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Celsius Network is a crypto exchange and trading platform offering high returns on legacy deposits and low-rate interests on cryptocurrency-backed loans. The platform offers simplicity to beginners whose focus is earning income through the lending scheme and interests.
How does Celsius Network tax reporting work?
Celsius Network does not provide a tax reporting mechanism to help traders file their taxes. If you want to retrieve your Celsius Network tax report, you can use the cost-free Accointing’s Celsius Network tax calculator and portfolio tracker. The tool allows you to keep tabs on your investment portfolio and produce comprehensive tax reports according to your country’s required format.
To achieve this, you have to link your Celsius Network account to Accointing and import your transaction history data. Here are the various ways to do that:
- API – grant Accointing an automatic connection and sync with Celsius Network.
- CSV - Export your Celsius Network transaction history and import it into Accointing
- Accointing template - Download our template, fill it with your data and upload it into Accointing.
Integrate with Accointing via the Celsius Network API
- Log in to your Celsius Network account.
- In the top right corner, click the profile icon and select ‘API.’
- Click the ‘Create new key’ button at the bottom of the page.
- Enable all the four toggle buttons to allow Accointing read-only access to your transactions data.
- Click the ‘Generate’ button to display the API key.
- Copy and keep the API key safe.
- Sign in to your Accointing account.
- Hover over the Wallets menu and click on ‘Add wallet.’
- Enter Celsius Network in the search input and select it from the list.
- Select the Automatic option and click Continue.
- Enter Celsius as your wallet name.
- Paste the API key into the public address input.
- Choose ‘All’ under the ‘Import from’ dropdown.
- Click the Save button to complete the API integration.
API supported features:
API unsupported features:
- Commission from the referral program.
Integrate with Accointing via the Celsius Network CSV/XLSX file
Downloading CSV files from Celsius Network
If you don’t want to link your Celsius Network account with Accointing using the API, you can also do so by importing a CSV file containing your history of trades, withdrawals, and deposits. Here is a simple step to go about it.
- Sign in to Celsius Network.
- Click the profile icon at the top right corner.
- Select ‘Download transaction history from the dropdown.
- Celsius Network will share the CSV file via your account email.
Importing CSV files into Accointing
- Log in to your Accointing account.
- Hover over the ‘Wallets’ menu and select ‘Add wallet.’
- Search for Celsius Network in the search input and select it from the list.
- Select the ‘File import’ option, and click Continue.
- Set Celsius Network as the wallet name.
- Click the file chooser to select the CSV file downloaded earlier.
- Select ‘All’ from the ‘Import from’ dropdown.
- Click the Save button to start the import process.
How to review and track your Celsius Network transactions in Accointing
- Once Accointing and Celsius Network are integrated, go to your Accointing dashboard and have a summary view of your trading portfolio.
- Create a date range as desired to evaluate your Celsius Network portfolio performance, gains, and losses.
- Choose any crypto asset and analyze your buy and sell dates. You can also choose multiple assets at a go and compare their performance for the set dates.
- All is set, start tracking your Celsius Network portfolio, distribution, and spread. You’ll also be able to determine where each asset is kept, whether in exchange or a wallet.
Common issues with importing transactions from Celsius Network
When connecting to the Celsius Network API, some users experience an error with the message “Failed to add account. Please check the values below.” The error may persist even after counterchecking your API key and everything is okay.
A workaround for this challenge is to delete the API from your Celsius account and recreate a new one. Ensure that read permissions for transactions, deposits, withdrawals, and balances are enabled. If the problem persists, you can contact Celsius Network’s support team.