Kanga Exchange is a cryptocurrency exchange offering a wide range of investment products. On the platform, you can buy, sell, or trade cryptocurrencies and other crypto assets, such as real estate and tokenized real-world assets. This makes Kanga Exchange one of Europe’s most formidable exchanges.
But the issue is that calculating your taxes becomes complicated with such a wide range of earning opportunities available. So we put together this guide to show you how to calculate your Kanga Exchange taxes.
Kanga Exchange is a cryptocurrency exchange located in Poland. The platform offers a wide range of ways users can earn, including various investment opportunities, staking and affiliate commissions.
Cryptiony automated tax software pulls users’ transaction data from the website and calculates their crypto taxes in tax reports. This can save time and money while giving the users peace of mind that their crypto taxes will be done correctly.
Import your taxes from Kanga Exchange to Cryptiony, where we will automatically allocate and calculate what you owe based on current crypto tax rules and regulations.
But if you are still unsure, here are your other options: do it yourself or hire an accountant.
The issue with both of these is that crypto tax is highly complicated. Because it is an emerging industry, regulations are constantly being released and updated, making it challenging to keep up – even for accountants!
Not only that, but in the UK and some other countries, cryptocurrency swaps are taxable events, meaning you must calculate the fair value at the time of the swap and attribute that to your profit or loss. At best, this is time-consuming; at worst, it might make you punch your PC!
Luckily, our software is up to date with regulations and automatically calculates everything in minutes. Better yet, it is far cheaper than hiring an accountant.
To start with Cryptiony, you first must import your Kanga Exchange transactions.
An API is the best way to import your Kanga Exchange taxes to Cryptiony. To do this, you need to start by generating your API keys.
Generate your Kanga Exchange API keys
Log in to Kanga Exchange.
Visit the taxes section.
Select Cryptiony and then hit generate.
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 Kanga Exchange, then integrate with the exchange API.
Input your Crypto.com API keys into Cryptiony.
Click integrate. Congratulations, you have imported your transactions.
Next, you can import transactions from a different exchange or visit the taxes section to generate a report.
To unlock the full functionalities of Kanga Exchange, you need to verify your identity with KYC.
You can withdraw either fiat or cryptocurrency from Kanga Exchange. Kanga stores fiat as stablecoins on the platform. But when you deposit or withdraw, it is automatically converted.
To withdraw crypto, you just need to input your crypto wallet address into the withdraw section of Kanga Exchange. Just be sure your wallet supports that specific cryptocurrency.
Kanga Exchange is located in Gdansk, Poland. It serves a large part of the Polish cryptocurrency community but can be used worldwide. Also, the exchange has crypto exchange points in countries such as Czechia and the United Arab Emirates.
Yes, any profits generated from the platform are subject to taxes. If you are within the United Kingdom, you may be subject to either Capital Gains or Income Tax. To learn more about these taxes, check out our crypto tax in the UK guide to learn more about these taxes.