BKEX is a cryptocurrency exchange co-founded by JM in 2018. The exchange provides a platform where users can buy and sell over 1200+ cryptocurrencies, including popular ones like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and many others. It has advanced trading tools and features such as perpetual trade, derivatives copy trade, staking and express mining.
BKEX exchange offers many trading tools, and users often have to hassle managing their transactions for tax filing. It has become essential to have an automated tool that will solve this problem. KoinX is a powerful tool that categorises transactions and provides an overview of the transaction data to fill tax.
If you are a BKEX user, you can easily integrate your account with KoinX to enjoy the seamless tax calculation and filing process. This article will provide a detailed guide to integrating your BKEX account with KoinX.
Now you no longer have the hassle to collect and organise your crypto transaction data for tax filing. All you have to do is connect with KoinX, which will provide you with error-less tax reports in just a few clicks.
A step-by-step guide on how to generate your BKEX tax report with KoinX
Step 1: Log in to the BKEX account
Step 2: On the top right corner, click on the API management option.
Step 3: Click on Add New API to create a new API
Step 4: Make sure Check Assets and Query Assets are selected and click on Create an API Key.
Step 5: Now, log in to your Koinx account.
Step 6: In the Integrations page, please select BKEX exchange.
Step 7: Paste your API key and secret key and click on Import Now.
Watch how to generate your BKEX tax report with KoinX.
Discover the best way to generate your BKEX tax report with KoinX to file your crypto taxes appropriately.
How To Easily Calculate & File Your BKEX Taxes with KoinX
Step 1: Add all the chains and exchanges where you have an account
You can easily connect all the chains and exchanges you use for the crypto transactions in KoinX. The process of integration is relatively easy. You have to make an API connection between your exchange account and KoinX.
Step 2: Review your transactions
KoinX has a user-friendly interface, and after you provide the transaction data, it categorises the data in order. It helps you to visualise the data better to identify any irregularities and avoid any errors in the generation of tax reports.
Step 3: Generate your tax reports for the selected financial year
KoinX provides you with all the necessary tax forms with all the regulations on the calculation and filing of taxes. You can choose the KoinX service to manage transactions according to your trading and investment approaches. It will provide you with an errorless tax report of your crypto portfolio.
Step 4: File your taxes
After successfully generating and previewing the tax reports, you can download them in any format that suits you. You can easily share the tax reports to get a piece of professional advice on the process of filing crypto taxes.
Important Things to Consider While Generating Your BKEX Tax Report with KoinX
KoinX will help users calculate their crypto tax comfortably while they use the saved time to upgrade their portfolio and knowledge. A few important things to consider:
- KoinX will need your complete transaction history from BKEX to correctly calculate your transaction history; for the best result, you must provide the data from when you started your account in BKEX.
- If you want KoinX to sync with your latest transaction data automatically, you can turn on the sync now option in your dashboard. Then KoinX will collect your real-time transaction data and generate tax reports.
- KoinX provides you with a preview of your transaction data and tax report to check for any errors or gaps in the reports. It will save you from getting penalised by the authorities.
Frequently Asked Questions
Do I need to report my BKEX for tax purposes?
Yes, if you engage in crypto activities to earn a profit, you must report your tax to the concerned authorities. The reporting regulations around crypto differ according to the country.
Does BKEX report to the Income Tax Department?
No, BKEX does not report the tax matter of users to the Income tax department. It is a cryptocurrency exchange that provides a platform to buy and sell various cryptocurrencies. However, the company may have its legal entity obligation to the Income Tax Department.
Does BKEX provide tax reports?
No, BKEX does not provide tax reports. It is a cryptocurrency exchange that allows users to trade various cryptocurrencies and help build a crypto portfolio. KoinX is a crypto tax calculation tool that smartly calculates taxes and provides errorless tax reports for filing.
How are BKEX transactions taxed?
Yes, BKEX transactions are crypto transactions that are facilitated to earn profit. Hence, they are taxed under the tax regulations provided by the concerned authority of the country.
How does BKEX tax reporting with KoinX work?
Using KoinX, you can quickly generate tax reports for your BKEX crypto portfolio by integrating your account with KoinX. You can follow the above-given step to integrate your BKEX account with KoinX seamlessly.
What are the most common issues with importing transactions from BKEX to KoinX?
While making the API on your BKEX account and transferring the transaction data, you must select all the transaction types carefully to avoid any gaps in the data. Ensure the “Check assets” and “query assets” options are selected before creating a new API.
How do I troubleshoot my BKEX integration with KoinX?
If you are having any issues while following the steps or any technical issues, you can contact KoinX user support. You can connect with the support through live chat, social media (Twitter), or email at firstname.lastname@example.org. The active help support of KoinX will help you throughout the issues.