Looking to invest in digital assets? Look no further than CoinSpot, Australia's leading provider of cryptocurrency services, known for robust security. With over 360 coins listed and low fees, the exchange offers the best way to buy, sell and swap digital assets.
How does CoinSpot tax reporting work?
CoinSpot currently doesn’t issue tax documents and reports. So, if you want to know how much tax you owe on your CoinSpot transactions, Accointing can help. Our CoinSpot tax calculator and portfolio tracker can analyze your trades history, calculate your taxes, and produce a tax report in the format required by your country's tax authorities.
To get started, you'll need to connect your CoinSpot account with Accointing and import trades history and transactions. There are a few ways you can do this:
- API - an easy and automatic way to keep your CoinSpot and Accointing accounts in sync.
- CSV – export trades and transaction history from CoinSpot and import it into Accointing.
- Accointing template – Fill out our simple template, then upload it to Accointing.
Integrate with Accointing via the CoinSpot API
Connecting your CoinSpot account with Accointing via API is easy. Here are the steps to follow to achieve this:
- Sign in to your CoinSpot account.
- In the top right corner, choose My account.
- Click on the API tab from the dropdown.
- Choose Generate new API key.
- Specify Accointing as the API key name.
- Choose read-only under the API key type.
- Proceed with the 2F authentication process and enter the verification code sent.
- Click on Create new API key.
- Check your inbox for an email requesting you to confirm the API key.
- After verification, copy the displayed API key.
- Click on View secret then copy the secret key shown. Keep both the API key and secret key safe because they’re shown only once.
- Now proceed to log in to your Accointing account.
- Hover over the Wallets menu and select Add wallet.
- Search for CoinSpot in the search input and select it from the dropdown.
- Select the recommended Automatic option then click Continue.
- Enter CoinSpot as the wallet name
- Copy and paste the API key and the secret key into their respective input fields.
- Select All from the ‘Import from’ dropdown, otherwise, set the start date.
- Click the Save button to complete the integration.
API supported features:
- Trades and fees.
API unsupported features:
- Signup and referral program bonuses.
Integrate with Accointing via the CoinSpot CSV/XLSX file
If you don’t want to link your CoinSpot 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 guide to go about it.
Downloading CSV files from CoinSpot
- Login to your CoinSpot profile.
- Choose My account in the top right corner.
- From the dropdown, pick Order history.
- Download the buys/sells and the sends/receives CSV options.
Importing CSV files into Accointing
- Sign in to Accointing, then hover over Wallets’ menu to click on Add wallet.
- Search for CoinSpot in the search input and select it from the list.
- Click the File import option and click Continue.
- Specify CoinSpot as the wallet name.
- Then browse the CSV file and select it for import.
- Choose All under the “Import from” dropdown. You can also specify the date range as required.
- Click the Save button to initiate the import.
How to review and track your CoinSpot transactions in Accointing
- Once through with importing your CoinSpot trades data, go to your Accointing dashboard to view the summary of your portfolio.
- Pick the applicable dates to start analyzing your CoinSpot performance history, losses, and gains.
- Choose from the different crypto assets to view and analyze the buy and sell dates. You can also pick multiple assets at a time to compare the performance for the selected dates.
- You’re all set to start tracking your CoinSpot investments portfolio, distribution and spread. Also Learn where each asset is kept, whether in wallets or exchanges.
Common issues with importing transactions from CoinSpot
One issue you’ll notice when using the CoinSpot API is that it does not sync bonuses such as referral and signup bonuses. If they’re not that many, you can add them manually. Alternatively, you can use the CSV import option.
CoinSpot separates the transactions into buys/sells and sent/received. That means users have to do multiple CSV imports for all their data to produce accurate reports. Also, when importing your CSV files, you may experience problems with timestamps. To counter this, you can request CoinSpot to send you an updated CSV file of all your trades and transactions.