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Use Binocs to make your Binance tax reporting easy. It imports your data and helps you create the right tax forms to submit.
To Connect with Binance , you require a pair of keys - an API key and a secret key. These keys allow our system to read your account history to generate portfolio and compute taxes.
How to create an API key and Secret Key in Binance ?
Before you create the API key and secret, please take note of the below points:
STEP 1: Log in to your Binance account using your login credentials.
STEP 2: Once you have successfully logged in, navigate to the https://www.binance.com/en/my/settings/api-management.
STEP 3: Select the "Create API" option. This will set the “Read-only” option by default for you.
STEP 4: Select the system-generated API key type and click Next.
STEP 5: In the Description box, enter a name for your API key, such as "Binocs API".
STEP 6: Next, complete the security verification process, which involves entering the email verification code and SMS verification code.
STEP 7: Once the security verification is complete, click on “Submit”. You will be presented with your “API and “Secret Key”.
STEP 8: Copy both the API and Secret Keys and paste them in the Binocs Application.
STEP 9: Store the keys in a separate file that you can refer to in case you need them again.
Note that, you should not use the same pair of key and secret keys anywhere else as it may result in API errors in the application.
Before uploading it to Binocs, you must first download a CSV file from Binance containing your complete trade history.These csv allow our system to read your account history to generate portfolio and compute taxes.
Note -
How to download and export your transaction history CSV file from Binance?
STEP 1: Log in to your Binance account using your credentials.
STEP 2: From the top navigation menu, select "Wallet."
STEP 3: From the dropdown menu, select "Transaction History."
(Link - https://www.binance.com/en/my/wallet/history/deposit-crypto)
STEP 4: Click on "Generate All Statements" to generate your transaction statements.
STEP 5: Choose "Customized" under the "Time" dropdown.
STEP 6: Enter a date range within the past 12 months for which you want to generate the report.
STEP 7: Click on "Generate" to initiate the report generation process.
STEP 8: Please note that it may take a while for your statement to be generated, depending on the amount of data being processed.
STEP 9: To ensure a smooth downloading process, please note that the status will transition from "Generating" to "Download" once your Binance CSV file is ready to be downloaded. At that point, you will be able to successfully download your Binance CSV file.
STEP 10: Repeat this process until you have generated reports to cover your complete trading history.
STEP 11: Your csv will look like this ,when you open the Binance csv.
STEP 12: Save all the downloaded CSV files to your device for future reference.
No credit card required