Binance.US recently partnered with CoinTracking to help crypto traders track their crypto portfolios and do their taxes.
What is CoinTracking?
CoinTracking is a leading crypto portfolio tracker and crypto tax software in the market, available in 100+ countries, serving 1.1+ million traders and 25K+ corporate clients (e.g., hedge funds, tax firms).
What is Binance.US?
Binance.US is America's home to buy, sell, trade, convert, and stake digital assets. Ranked by Forbes as the Best Overall Crypto Exchange for 2021 and 2022, Binance.US offers some of the lowest fees in the industry and provides secure and reliable access to more than 120 of the world’s most popular cryptocurrencies, with some of the lowest fees in the U.S.
What can I do with the CoinTracking – Crypto Portfolio Tracker/Crypto Tax Software?
With CoinTracking, traders can track their crypto portfolio with 25+ advanced reporting features, including charts, coin trends, gains/losses, tax-free coins, and more.
After importing your crypto trades from hundreds of options, users can get their capital gains calculated and generate tax reports according to 13 accounting methods.
Why import Binance.US trades to CoinTracking?
Binance.US offers free Tax Reporting tools that allow customers to easily export their taxable crypto transactions to third party platforms. All Binance.US customers can use the Tax API Key tool to easily and securely share their transaction history with CoinTracking.
In addition, Binance.US offers an Export Statement tool that allows customers to download their transaction history and import their transaction history into CoinTracking by CSV.
Is it taxable to trade crypto on Binance.US?
If you want more information about crypto taxes in the US, please check this Binance.US taxes guide, prepared by CoinTracking. Please consult a crypto tax professional to assess your personal situation. This does not constitute any kind of legal/tax/financial advice. Conduct your own research before making any decision.
How to import Binance.US trades into CoinTracking by CSV
You can import your Binance.US trades with a CSV to track your crypto portfolio and calculate crypto taxes. Here’s how to do it:
Login into your Binance.US account and click on "Wallet", located in the navigation bar at the top of the screen
Click the Export Statement button on the right side of the screen
On the confirmation screen that pops up, choose Yearly Report and select the desired year
Next, click "Generate" to export your statement. Once the statement is generated, you will receive a notification via email
Upload the CSV file here
Please find all the information about importing restrictions from Binance.US here. If you have any questions, please check this support guide.
How to import Binance.US trades into CoinTracking by API
You can import your Binance.US trades with an API. Here’s how to do it:
Hover the account icon (top right corner) and select API Management
Enter a label for your API key and click on "Create"
Copy the "API Key" and the "Secret Key"
Paste it here and select "Save this Binance US job"
If you have any doubts on generating TAX API Keys on Binance.US, please check this guide.