Creating a CoinW API key is simple. Follow this step-by-step guide to generate one effortlessly:
- Log in to your CoinW account. Click on your profile icon in the top-right corner and select API Management from the dropdown menu.
- Click on the Create API button to start setting up your API key.
- Select the Read-Only mode to ensure your API key can only access data without making transactions. Click Confirm to proceed.
- Follow the security steps, such as entering a verification code or confirming through email, to secure your API key.
- Once verification is complete, CoinW will generate your API Key and Secret Key. Make sure to store them securely, as you won’t be able to view the secret key again.
How Cryptocurrency Tax Software Helps You Calculate Your CoinW Taxes?
1. Automatic Data Sync with CoinW API: Once you connect Catax to the CoinW API, it automatically imports all your trading data. This eliminates the need to manually enter every buy or sell transaction, reducing errors and saving time.
2. Tracking Your Crypto Costs: Catax fetches your purchase price data from CoinW to calculate your capital gains accurately. It determines the exact price you bought your crypto for and compares it to your selling price to ensure precise tax reporting.
3. Real-Time Market Value Updates: The CoinW API provides real-time market data, allowing you to track your crypto’s current value. With this up-to-date information, you can make informed investment decisions and plan for potential tax savings.
4. Tax-Ready Reports for Easy Filing: Using your CoinW transaction history, Catax generates detailed tax reports that comply with Indian tax regulations. When tax season arrives, all your transactions will be organized and ready for filing, making the process stress-free.
How to Use Your CoinW API Key and Secret Key Securely?
To ensure a safe and smooth integration, follow these security measures:
1. Keep Your API Keys Secure
Treat your CoinW API Key and Secret Key like confidential passwords. Store them securely in a password manager or write them down and keep them in a safe place.
2. Link Your CoinW Account to Catax
After securing your API keys, log in to Catax, navigate to the exchange connection section, and enter your CoinW API Key and Secret Key to establish a secure connection.
3. Let Catax Handle Your Taxes Automatically
Once linked, Catax will automatically fetch your transaction history and calculate your crypto taxes based on Indian tax laws. This ensures accuracy and compliance while allowing you to focus on your investments.