Easily connect your Exchanges to a Cryptotax Tool (USA)

  1. How to connect your APIs to www.accointing.com, a crypto tax tool that offers more than JUST a crypto taxation software.
  2. What do I need to get from my exchanges and in what format in order for me to do report my taxes
  3. How should my output look like and how do I give this to my accountant
  1. How do you handle Margin Trading?
  2. How do you deal with Airdrops that you didn’t want?
  3. What do you report if you lost your keys?
  4. How about DeFi transactions?

Create an Account in a Crypto Tax Tool

Why? Well, on the one hand, it will save you tons of money on CPA hourly fees and on the other hand it will save you tons of time to spend on whatever you like doing. How? You’re either keeping track of all your buy/sell dates with their cost basis in an Excel sheet right now or you will request a CSV from your exchange and transform that into another Excel file which you’ll have to manipulate to add it to a tax tool which then your CPA will have to try to figure out if you have all the data needed or not. I suggest you start now (try www.accointing.com -we make it fairly simple)

Onboarding to Accointing

Import your Exchanges, Wallets or Whatever other Transaction Files You Might Have

Just download your CSVs and directly import them to the platform. Sounds easy, but it’s not. I’ll tell you right now that it’s not. All exchanges work differently: they will provide different date formats, cost basis, column name, description type, fee handling, and the list can go on. There are some exchanges that will only provide a transaction of history of 3 months back and you have to make direct requests to get them. We offer you the option to import CSVs, Excel Files, do manual transactions, etc, but we suggest that you import your APIs. Are you concerned about your data security? Don’t worry-we are based in Switzerland and you can read about our security policies here.

Importing a Bitcoin wallet in Accointing
Importing Kraken to Accointing-API and CSV upload
Importing our Excel Template to Accointing (download it once you’ve signed up)
Importing a Manual Transaction (Order or Transfer) to Accointing

Getting my Report

Once you have done all of this, you’ll need to classify all your trades and transactions. How? We have created a Full Data Set Page where you can review all your different trades and transactions you’ll be able to classify each of them accordingly, but first, you need to make sure that your import data makes sense. Here’s how:

Transactions in the Needs Review Page in Accointing
  1. Differences between the balances reported by the exchange and the balances calculated with the trades provided by the exchange and about trades
  2. Transfers where you attempt to sell more Coins than you own at the time of the transaction.
Generating a Tax Report and Other Documents with Accointing
  1. User data is encrypted using user-specific keys generated by the AWS Key Management System (KMS), which are also rotated accordingly to industry standards.
  2. The system is ongoingly checked (among other things) for all points of the OWASP Top-10. As far as possible, data minimization and partitioning of the data is applied. The purchase information, for example, is only available in Shopify and at no time in connection with the user’s crypto-portfolio.
  3. Passwords are never received, thanks to the integration with Auth0. Users also have the possibility to use the widely used 2-factor authentication.
  4. For API keys we explicitly ask for read-only access and encrypt this data also user-specific. The users can delete the whole account including all collected data at any point.
  5. Out of respect for data sovereignty, users can export their data from the system at any time without restriction. As a data center, we have made a conscious decision to operate on (dedicated) cloud machines and benefit from the experience of AWS as an operator.
  6. The company headquarters is located in Switzerland, so our customers’ data is correspondingly secure against legal queries.

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Accointing by Glassnode

Accointing by Glassnode

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Connecting Crypto: Track, Manage, and Report all Your Crypto Platforms in One Place.