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What are API Keys and how do they help with crypto tax?

What is an API Key?

An Application Programming Interface (API) key is a secure, unique code that allows authorised tax software to view your transaction data automatically. Think of it as a digital read-only pass that shares your transaction history with your tax platform so you do not have to upload files manually.

 

API Connections vs. CSV Uploads

When preparing your end-of-financial-year reporting, you can either export your transaction history as a CSV spreadsheet or connect your account automatically using an API key.

  • Reduces Mistakes: Manual CSV downloads require you to select precise date ranges. Missing a single day or uploading duplicate files can distort your calculations.

  • Prevents Formatting Errors: Spreadsheet layouts can change. If a platform updates its system, an old CSV format may fail to upload, whereas API connections update automatically to ensure a consistent data flow.

  • Continuous Tracking: A CSV file is a static snapshot of the past. An API connection allows your tax platform to continuously update your portfolio values throughout the financial year.

  • Simpler Collaboration: If you work with an accountant, an active API connection allows them to access your formatted data instantly, eliminating the need to email spreadsheets back and forth.

 

Supported Tax Partners

Wealth99 maintains data compatibility with the following four crypto tax platforms.

  • CoinTracking: A comprehensive global platform ideal for complex portfolios, providing in-depth analytical tools and historical tracking.

  • Koinly: A user-friendly, popular platform that simplifies data aggregation and offers seamless integration for independent lodgements or accountant sharing.

  • Summ (formerly Crypto Tax Calculator): A precise tool designed to unravel intricate transaction histories and produce ready-to-file tax reports.

  • Syla: Purpose-built for Australian tax law, offering a highly optimised framework for local investors and SMSF structures. 

 

Is it safe to use API Keys?

Yes. To safeguard your account, Wealth99 API keys are strictly restricted to "Read-Only" permissions. This means they can only view transaction data and can never be used to execute trades or initiate withdrawals. To maintain security, never paste your API keys into unverified or unapproved software.