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OKX, formerly known as OKEx, is a cryptocurrency exchange platform offering numerous financial services to investors through blockchain. It’s an excellent platform for traders after low trading fees with high yields for staking. It also supports fiat currencies with no deposit and withdrawal charges.

How does OKX tax reporting work?

OKX investors looking for a tax report can’t get it from the platform because OKX doesn’t issue any. However, Accointing’s OKX tax calculator and portfolio tracker make it possible to generate detailed tax reports according to your country’s specified format. The free portfolio tracker also lets you monitor your OKX investment portfolio in real-time.

To achieve this, you need to connect your OKX account to Accointing and import your transaction history through the following methods:

1. API – Let Accointing access your OKX account automatically and sync your transaction history data.
2. CSV - Export OKX transaction history to CSV file and import it into Accointing.
3. Accointing template - download and fill our template then upload it into Accointing.

Integrate with Accointing via the OKX API

1. Log in to your OKX account.
2. Hover over your profile icon in the top right corner, and click ‘API.’
3. Click on ‘Create V5 API Key.’
4. Set Accointing as the API key and specify a passphrase.
5. Ensure the ‘Read’ checkbox is selected while the ‘Trade’ and ‘Withdraw’ checkboxes are unchecked.
6. Click on ‘Get code’ and complete the 2F authentication.
7. Click on ‘View’ and key in your passphrase and the code received via SMS to access the API key.
8. Copy the API key, secret key, and passphrase for safe keeping.
9. Log in to your Accointing account.
10. Hover over the ‘Wallets’ menu and choose ‘Add wallet.’
11. Search for OKEX in the search input then select it from the list.
12. Select the ‘Automatic’ option recommended and click ‘Continue.’
13. Enter OKX as your wallet name.
14. Copy and paste the API key, secret key, and the passphrase into their respective inputs.
15. Click the ‘Import from’ dropdown and select ‘All.’
16. Click the Save button to start the integration.

API supported features:

• Deposits
• Withdrawals
• Trades
• Margin trades.

API unsupported features:

• Commissions from the referral program.

Integrate with Accointing via the OKX CSV/XLSX file

Downloading CSV files from OKX

If you don’t want to link your OKX 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.

1. Sign in to your OKX account.
2. In your account’s top header menu, hover over the ‘Trade’ menu and select ‘Spot.’
3. Click on ‘Download’ and then set the relevant date range.
4. Click the ‘Export’ button, and give it some time for the file to be prepared.
5. Once ready, click on ‘Download’ to generate the CSV file.

Importing CSV files into Accointing

1. Log in to your Accointing account.
2. Choose ‘Add wallet’ by hovering over the ‘Wallet’ menu.
3. Enter OKX in the search input and select it from the dropdown list.
4. Choose ‘File import’ and click ‘Continue.’
5. Set ‘OKX’ as the wallet name.
6. Click the file chooser, browse to the CSV file downloaded, and select it for upload.
7. Select ‘All’ from the ‘Import from’ dropdown.
8. Click the ‘Save’ button to start the data import.

How to review and track your OKX transactions in Accointing

1. Once the Accointing account is linked to OKX, go to your Accointing dashboard for a summary view of your portfolio.
2. Pick the applicable date range and start analyzing your OKX transactions, gains, and losses.
3. Choose a crypto asset to view and analyze its buy and sell dates. You can also choose multiple assets at one time to compare their performance for the chosen dates.
4. You’re all set; track your OKX portfolio, distribution, and spread. It’s also possible to know where each asset is kept, whether in an exchange or a wallet.

Common issues with importing transactions from OKX

The OKX API syncs transaction history data for three months only. Also, the deposits and withdrawals data are limited to 100 entries per year. If you have a rather busy trading history, using the API integration might not produce comprehensive tax reports as required. Instead, the best option is to use the CSV import method.

If you opt for the CSV option, you may also experience errors with the CSV column header mismatch. That’s because OKX makes changes to its CSV file structures from time to time.  In such a case, you should write an email to support requesting the latest CSV file version.