How to Calculate Crypto Taxes Automatically Using Koinly

✅ Step 1: Create an Account

Go to Koinly’s website and sign up using email or Google
Choose your country (important for correct tax rules)

🔗 Step 2: Connect Your Exchanges & Wallets

Koinly works by importing your transaction data.

You can connect:

Exchanges like Binance, Coinbase
Wallets like MetaMask
Blockchains like Ethereum

How to connect:

Use API keys (recommended for exchanges)
Or upload CSV files
Or paste wallet addresses

👉 Once connected, Koinly auto-imports all transactions.

📊 Step 3: Let Koinly Sync Your Transactions

Koinly will fetch:
- Buys & sells
- Transfers
- Staking rewards
- Airdrops

📌 It automatically categorizes most transactions.

🛠️ Step 4: Review & Fix Errors

Sometimes data needs small corrections:

Mark transfers between your own wallets
Label income (staking, mining, gifts, etc.)
Fix missing cost basis

👉 Koinly highlights issues so you can easily fix them.

💰 Step 5: Check Your Tax Summary

Koinly calculates:

Capital gains & losses
Crypto income
Total tax liability

You’ll see a dashboard with:

Net profit/loss
Taxable events

📄 Step 6: Generate Tax Reports

Download reports like:
- Capital Gains Report
- Income Report
- Complete Tax Summary

These reports are ready for:

Filing yourself
Sharing with your accountant

🌍 Step 7: Use Country-Specific Rules

Koinly applies tax rules based on your country (e.g., India):

Flat tax on crypto gains
No loss offset (as per current rules)

⚡ Bonus Tips (Extra Value)

Sync regularly to avoid last-minute stress
Double-check DeFi/NFT transactions (can be complex)
Use Koinly year-round, not just at tax time
Keep API keys read-only for safety

🧠 Example (Simple)

Buy Bitcoin at ₹1,00,000
Sell at ₹1,50,000

👉 Koinly calculates:

Profit = ₹50,000
Applies tax rules automatically

🎯 Final Thought

Using Koinly turns a complex, manual process into a fully automated system—saving time, reducing errors, and helping you stay compliant with crypto tax laws.