Zebpay is a cryptocurrency exchange that is based in Singapore. Before launching its exchange in 2014, the firm operated as a worldwide wallet service. Zebpay stopped serving Indian consumers in 2018 because of regulations in the country, but it relaunched in India in 2020. Zebpay now has an average trading volume of over $500,000 daily and is considered the fastest-growing cryptocurrency exchange.
There are two main steps in this process.
First, you will need to download a tax file from Zebpay, and second, you will need to upload it to KoinX. Let us break down the process to make it easier for you.
Steps in the Zebpay platform
Step 1 – Go to Zebpay’s official website and click on the login button shown in the above image. Enter your credentials and log in to your account on the next screen.
Step 2 – A dashboard will open once you log in. In the window’s top right corner, you will see a profile option (see the image below). Click on the same.
Step 3 – You will see your profile-related options in the next window. Find the statements options there and click on the same. See the image below for reference.
Step 3 – You will see a window similar to the picture below once you enter the statements section. This window helps you choose and download different types of statements. You can also see a tax invoice statement here. But don’t download it alone. Rather tick all the boxes and download the complete statement. This is because KoinX will be able to analyze the whole document and compute your taxes better this way.
Also, choose the timeframe you want the statement for in this window. Here, ensure you choose a timeframe that covers the whole financial year. Once you have done that, click on the submit option, as shown in the below picture.
The statement will be sent to the registered email account with Zebpay. If you cannot find the statement even after a couple of hours, be sure to check the spam section of your inbox as well. Once you get the file, save it in a location you will remember.
Steps in the KoinX platform
Step 1 – Go to the KoinX website at https://www.koinx.com and sign in. If you do not have an account yet, complete the simple sign-up process, which will hardly take a few minutes.
But if you already have a KoinX account and just want to sign in, fill in your phone number and enter the OTP you receive.
Step 2 – When you log in, your complete KoinX dashboard will appear. First, click on the third item in the top navigation bar, ‘Exchanges.‘ Then choose the ‘Add exchange‘ option.
Step 3 – On the following page, you will find a list of the integrations. Integrations with each of the listed exchanges are supported automatically by KoinX. For this tutorial, choose ‘Zebpay.’
Step 4 – Once you click on Zebpay, an ‘upload page’ will appear. Then, click on the ‘upload statement’ option.
This will open the default file explorer of your system. Next, navigate to where the file was stored and upload the same.
Step 5 – In the last step, you will need to double-check the uploaded file to ensure that you have chosen the correct one before clicking the submit button.
That’s all there is to it! KoinX will now calculate your capital gains and provide a tax report that you can download and use to declare your cryptocurrency income.
