Coinbase is a cryptocurrency exchange where you can purchase famous currencies like Bitcoin, Ethereum, and Solana. There are around 120 distinct cryptocurrencies available for use on the platform. It is one of the internet’s most well-known and widely used cryptocurrency exchanges, with tens of millions of users.
Figuring out taxation related to your gains through Coinbase is now easy, as Koinx provides easy and hassle-free integration. The process is as easy as downloading the tax reports and uploading them to the Koinx platform. Below is a step-by-step guide to the same.
Coinbase
Step 1 – to log in to the Coinbase platform. For this, you can visit Coinbase on your computer or mobile phone. Click on the sign-in button in the upper right corner of the home page. Provide your credentials on the next page, and you will be logged in.
Step 2 – A dashboard will appear once you log in. First, find the profile option in the upper right corner (see the picture above) and click on the same.
Step 3 – In the profile section, click on ‘reports,’ the second option from the top.
Step 4 – In the ‘reports’ section, find the transaction history tab. Then, click on the generate button left to that.
Step 5 – In the next download report window, select ‘all assets’ and ‘all transactions’ to ensure you get a complete report. Ensure you choose the applicable time frame as well. Also, there will be two options for you to choose from here – PDF and CSV reports. Be sure to choose CSV, it’s the format that Koinx supports. Hence, click on the generate report option next to ‘CSV report.’
Once you click generate, the CSV report will be downloaded. Be sure to save it in a location on your computer or phone that you will remember, as you will need to upload this document later in the process.
With this, the steps in the Coinbase app are complete. Now let us go to the Koinx app and see how you can upload the same.
Steps you need to take at KoinX
Step 1 – Sign in on the KoinX website by visiting. Fill out the quick sign-up form if you don’t already have an account; it won’t take more than a few minutes.
Enter your phone number and the OTP you receive if you already have a Koinx account and want to login in.
Step 2 – Your entire KoinX dashboard will show up once you log in. First, select “Exchanges,“ the third item in the top navigation bar. After that, select “Add exchange.“
Step 3 – A list of the integrations is available on the next page. Each of the listed exchange integrations is supported by Koinx automatically. Select ‘Coinbase’ from the list to continue the tutorial.
Step 4– The next screen will be an upload page. Select the upload statement option indicated in the image above.
This will launch your system’s built-in file explorer. Next, navigate to the file’s storage location and upload it.
Step 5– Once you click the upload option, your operating software’s file explorer window will open. You must go to the location where you can save the file and choose the right CSV file.
Step 6 – In the final step, recheck the file name to confirm you have uploaded the right one and click on submit.
Voila – that’s it!
KoinX will compute your capital gains and generate a tax report for you that is ready to download and may be used for the purpose of reporting your cryptocurrency income.
