How to connect KuCoin API to Koinly for tax calculation?

Setting Up KuCoin API Credentials

1. Log into your KuCoin account via the official website or desktop application.

2. Navigate to the Security Center under Account Settings and select API Management.

3. Click “Create API” and assign a descriptive name such as “Koinly Tax Sync”.

4. Enable read-only permissions only—never grant trade or withdrawal access for tax tools.

5. Confirm creation using your two-factor authentication method and securely store the API Key, Secret Key, and Passphrase.

Configuring KuCoin Integration in Koinly

1. Sign in to your Koinly account and go to the Wallets section.

2. Click “Add Wallet” and search for “KuCoin” in the list of supported exchanges.

3. Select KuCoin and choose “API Import” instead of manual CSV upload.

4. Paste the API Key, Secret Key, and Passphrase exactly as generated—case sensitivity matters.

5. Click “Connect Wallet” and allow Koinly to fetch transaction history including deposits, withdrawals, trades, and staking events.

Verifying Data Accuracy and Coverage

1. After syncing completes, review the Transactions tab to confirm all asset movements are present.

2. Cross-check recent trades against KuCoin’s Trade History page to ensure timestamps, prices, and fee entries match.

3. Look for missing entries related to margin activity, futures settlements, or internal transfers between KuCoin sub-accounts.

4. If discrepancies appear, manually export KuCoin’s full CSV report from the Spot Trading History and Futures History sections and import them into Koinly as fallback data.

5. Ensure Koinly correctly identifies fiat deposits and withdrawals by matching bank transfer references or stablecoin network tags.

Handling KuCoin-Specific Tax Scenarios

1. Koinly automatically detects KuCoin’s native token KCS fee discounts and treats them as cost basis reductions on applicable trades.

2. Staking rewards from KuCoin Earn products are classified as income with fair market value at distribution time.

3. Margin interest payments appear as expense line items, while liquidation events trigger capital gains or losses based on net position settlement.

4. Futures funding rate payments or receipts are logged separately and assigned appropriate tax treatment depending on jurisdictional rules.

5. Internal wallet transfers between KuCoin sub-accounts (e.g., from main to margin) are excluded from taxable events unless they involve asset conversion.

Frequently Asked Questions

Q: Does Koinly support KuCoin’s trading fee rebates in KCS?Yes. Koinly recognizes KCS deductions applied during trade execution and adjusts the effective cost basis accordingly.

Q: Why are some KuCoin futures positions missing in Koinly?Koinly relies on KuCoin’s public API endpoints which do not expose open position metadata. Only closed trades, funding payments, and settlements sync automatically.

Q: Can I import KuCoin’s NFT marketplace transactions?No. KuCoin’s NFT platform operates independently and does not expose its transaction log through the standard exchange API used by Koinly.

Q: What happens if I regenerate my KuCoin API key after connecting to Koinly?Koinly will lose access and stop fetching new data. You must re-enter the updated credentials manually in the wallet settings.