How does Binance US work with koinly?

Connect Binance US with Koinly to import all your Binance US trades safely and securely Koinly categorizes Binance US transactions into gains, losses and income Koinly calculates your Binance US Capital Gains Tax and Binance US Income Tax File your Binance US taxes online with the IRS or with your crypto tax accountant

How does koinly work?

Koinly calculates your income and gains or losses for you and automatically generates your Binance tax report, ready to file with your tax office. Koinly works by importing your Binance transaction data to analyze what's taxable, and what's not. Let's look at an example - here's some transactions in a Binance account.

How do I import a Binance wallet into koinly?

For example, if you bought or sold using fiat. To start your Binance import, sign into Koinly and go the Wallet page. Add new wallet: Binance. Label the API key Koinly and hit Create. Enter the email verification and 2fa codes here. Hit Submit. Now, copy your newly generated API key and secret key and paste these into Koinly.

How long does it take to sync Binance & koinly?

This sync process may take longer than a few minutes. That is normal. Once Koinly and Binance are connected you'll notice yellow circle next to the Binance icon in your Koinly Wallet. Why? Koinly has calculated certain assets from the imported data and it's not matching what the API is reporting on the exchange.