Nexo is a cryptocurrency platform popularized by its bank-like operation, like offering its users accounts that earn interest and loans on cryptocurrency. They also support quick deposits and withdrawals with an efficient security system and a simple UI.
How does Nexo tax reporting work?
Nexo doesn’t offer much when it comes to generating a comprehensive tax report. However, Accointing makes it easier to create your profits, losses, and transactions tax report. Through Accointing’s Nexo tax calculator and portfolio tracker, you can easily analyze your trading history, calculate taxes, and produce a tax report matching your country’s format.
To get started, integrate your Nexo account with Accointing and import your trade and transactions history. Here are a few ways to achieve that:
- API – Enable automatic connection and syncing with Accointing from your Nexo account.
- CSV – Export your Nexo trade and transaction history then upload it into Accointing.
- Accointing template – download and fill our simple template then upload the data into Accointing.
Integrate with Accointing via the Nexo API
Nexo doesn’t support integration to their platform via API at the moment. However, they’re working on it and soon you’ll be able to connect to Accointing via the API. Users can instead download their transactions history CSV and upload it into Accointing.
API supported features:
No API features are supported.
API unsupported features:
Integrate with Accointing via the Nexo CSV/XLSX file
Downloading CSV files from Nexo
If you don’t want to link your Nexo 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.
- Login to your Nexo account.
- Click on the Transactions menu.
- Filter the transactions by selecting a date range on the left.
- Under the Transaction Type dropdown, choose All types.
- Under the Asset dropdown, select All Assets.
- Nexo will filter and display the transactions in the Transaction History table.
- Manually copy the transactions and copy them in a CSV file.
- Save the file for later use.
Importing CSV files into Accointing
- Login to your Accointing profile.
- Hover over the Wallets menu and click on Add wallet option.
- Search for Nexo and select it from the list.
- Select the File import option and click Continue.
- Set the wallet name as Nexo.
- Browse the CSV file saved earlier and select it for import.
- Set the Import from option to All.
- Click the Save button to start the import process.
How to review and track your Nexo transactions in Accointing
- After your transaction history from Nexo is imported, navigate to your Accointing dashboard and view a summary of your portfolio.
- Specify the applicable date range to analyze the transaction history, gains, and losses.
- Click the different crypto assets to start analyzing your buy and sell dates. You can also select multiple assets at a go to compare performance for the chosen dates.
- You’re all set to start monitoring your Nexo investment portfolio, distribution and spread. You’ll also be able to know whether an asset is kept in a wallet or an exchange.
Common issues with importing transactions from Nexo
Since Nexo doesn’t provide API integration, users only have the option of CSV file download. When uploading your CSV file, some Nexo users may encounter upload problems. One of the issues reported is an upload error with the message, “failed to parse CSV.” This problem usually occurs when the column headers of the CSV file downloaded do not correspond to the requirements.
The best way to go about it is to contact Nexo support directly and request them to send you a complete CSV file of your transactions.