November 20, 2024

5 min

WhiteBIT Teams Up with KoinX to Simplify Your Crypto Portfolio Tracking

We’re thrilled to announce our partnership with KoinX, a leading platform in crypto tax calculation and portfolio management. This collaboration brings enhanced convenience and security, empowering our users to streamline their crypto management and focus on growing their portfolios.

What is KoinX?

KoinX simplifies the complex world of crypto taxation and portfolio tracking. This platform is trusted worldwide by both individuals and businesses for its ability to provide seamless, automated tax calculations by integrating with over 280 exchanges, blockchains, and wallets.

Key Benefits of KoinX

1. Accurate Tax Reports
   KoinX automatically calculates exchange rates for every transaction, ensuring that users can generate precise tax reports that comply with regulations in over 100 countries.
2. Seamless Integration Across Platforms
   By syncing transactions from multiple exchanges, blockchains, and wallets, KoinX provides a consolidated view of users’ entire portfolios.
3. Profit & Loss (P&L) and Capital Gain Reports
   Essential for tax filings, these reports give users an accurate snapshot of their crypto earnings.

Why Choose KoinX?

• Time-saving: KoinX automatically syncs and categorizes transactions, eliminating hours of manual work.
• Compliance-ready: With easy customisation generate reports aligned with local tax laws to help avoid penalties.
• Comprehensive Support: From modest portfolios to thousands of transactions, KoinX scales to meet any level of complexity.
• User-friendly: An intuitive interface makes managing both taxes and portfolios hassle-free.

Benefits for B2B Clients and Crypto Businesses

Our partnership with KoinX is especially valuable for B2B clients and crypto businesses. Here’s how it can benefit you:

• Effortless Compliance: Generate accurate, compliant tax reports to meet legal requirements across multiple jurisdictions.
• Enhanced Financial Transparency: Get a complete view of your crypto holdings, transaction history, and portfolio performance.
• Increased Efficiency: Automate crypto accounting, freeing up time for core business tasks.
• Robust Data Security: With advanced security protocols on both platforms, your financial data remains protected.

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KoinX and WhiteBIT Integration: What You Need to Know

With KoinX now integrated into WhiteBIT, managing taxes and tracking portfolio performance has never been easier. This new integration allows for:

• Simplified Tax Filing: KoinX automatically handles tax reporting.
• Comprehensive Tracking: Real-time performance monitoring across your crypto portfolio.
• Enhanced Security: Both platforms prioritize your asset security with state-of-the-art measures.

How to Generate Your WhiteBIT Tax Report with KoinX: A Step-by-Step Guide

Generating your WhiteBIT tax report with KoinX is straightforward. Follow these steps to get started:

Step 1: Log in to your WhiteBIT account.

Step 2: Go to your profile and click on “API” in the top-right corner.

Step 3: Generate a new API key by selecting “Generate a new key.”

Step 4: Log in to your KoinX account.

Step 5: In the navigation bar, click on “Integrations.”

Step 6: Search for WhiteBIT and select the exchange.

Step 7: Paste your API and secret keys, then click on “Import Now.”

Once your account is synced, here’s how to calculate your taxes:

1. Add all exchanges and wallets
   Connect all your accounts to KoinX and upload transaction data covering all years of your trading history for accurate tax reporting.
2. Review your transactions
   Check your transaction data for any gaps or errors.
3. Generate your tax reports
   Select the financial year and generate reports, categorizing trades as capital gains or business income based on your crypto activity.
4. File your taxes
   Download your tax reports in your preferred format and share them with your tax professional.

For better accuracy, ensure your API key has read-only permission and double-check your transaction data before uploading it to KoinX. If you need to update data manually, use the “sync now” feature on your KoinX dashboard.

With KoinX’s integration into WhiteBIT, managing crypto taxes and tracking portfolio performance has never been this easy. Start today and take full control of your financial future!