At this stage, you may agree that automating your taxes is the way to go. But automation seems complicated, so how do you get started? We have broken it down into simple steps below.
Generate your Gate.io API Keys
Log in to Gate.io.
Click the API Key Management button.
In the API Key Remark, choose a name that identifies the API key, e.g. Cryptiony API.
For IP Permissions select Later.
From API Key Type select APIv4 Key.
From Account Type select the default option, Classic Account.
In the Permissions section, toggle on Spot/Margin Trade and select Read Only.
Click Submit then read and accept Risk Reminder and complete Security Verification.
Save your API key and API secret for the Cryptiony integration.
Import your Transactions
Sign up for Cryptiony.
From the Cryptiony dashboard, click transactions, then add transactions.
Select Gate.io, then integrate with the exchange API.
Input your Gate.io API keys into Cryptiony and click integrate.
Once your transactions are imported, you can either import transactions from another exchange or head over to the Taxes section to generate a report.
While we recommend the API method, sometimes you might need to import your transactions as a CSV – mainly if you cannot import certain transactions with the API.
Follow the steps below to get started with the CSV method.
How to Download Gate.io Transactions
Log into your Gate.io account.
Click wallet, then account statement.
Enter your date range and click download.
How to upload Gate.io transactions to Cryptiony
Log in to Cryptiony.
From the dashboard, select transactions, then add transactions.
Click integrate the exchange on the top right of the screen.
Select Gate.io, then import the transaction file.
Select your Cryptiony transactions CSV files and hit import.
The first step in reporting your Gate.io taxes is calculating what you owe. The easiest way to do that is by following this guide. Then you can download a tax report from our app and a Self Assessment sheet from HMRC. Finally, attach your tax report to your Self Assessment sheet and file it to HMRC online or in the post.
Gate.io is not regulated in the UK. This means it is less likely that Gate.io would report taxes to HMRC than other exchanges. Nonetheless, Gate.io has been compliant with government authorities in the past, so they would likely comply if HMRC launched an investigation into you. That said, reporting all your crypto income is essential to avoid serious legal trouble in the UK.
To access the full range of tools and services that Gate.io offers, they require you to complete KYC verification. Generally, all fiat-on-ramp crypto exchanges require KYC verification. However, there are some tools on the platform you can use without KYC, but you still have to verify your identity to withdraw your crypto.