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Tax Software Integration

Setting Up API Keys on Binance for Tax Software

Complete guide to connect Binance with your crypto tax software

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Why You Need API Keys for Tax Software

Cryptocurrency transactions are taxable events in most countries. Tax software helps you automatically calculate your gains, losses, and taxable income from crypto trading. To do this, the software needs access to your transaction history.

With API Connection

  • Automatic transaction import
  • Real-time sync for new trades
  • Complete history with minimal effort
  • Accurate cost basis calculation

Without API Connection

  • Manual CSV exports needed
  • Time-consuming data entry
  • Risk of missing transactions
  • Higher chance of errors

Security Best Practices

Follow these practices to keep your Binance account safe when using API keys.

Read-Only Permissions

CRITICAL

Only enable "Enable Reading" - never enable trading or withdrawal permissions for tax software.

IP Whitelisting

Restrict API access to your tax software's known IP addresses when possible.

Unique API Keys

Create separate API keys for each service. Never reuse keys across platforms.

Regular Rotation

Delete and recreate API keys annually or if you suspect any compromise.

Never Share Secrets

CRITICAL

Your API secret is like a password. Never share it via email, chat, or support tickets.

Monitor API Activity

Check your API Management page regularly for any unauthorized access attempts.

Step-by-Step API Key Creation

Follow these steps carefully to create a secure, read-only API key for your tax software.

1

Log in to Binance

Access your Binance account

Binance login page with email/phone and password fields
  • Go to binance.com and click "Log In"
  • Enter your email or phone number
  • Complete 2FA verification if enabled
  • Make sure you are on the official Binance website
2

Navigate to API Management

Find the API settings page

Account menu showing API Management option
  • Click on your profile icon in the top right
  • Select "API Management" from the dropdown
  • Or navigate directly to: Account > API Management
  • You may need to verify your identity again
3

Create New API Key

Generate a new API key pair

API Management page with "Create API" button
  • Click "Create API" button
  • Choose "System generated" API key type
  • Enter a descriptive label (e.g., "Koinly Tax")
  • Complete email and 2FA verification
4

Configure Permissions

Set read-only permissions

API permissions settings with checkboxes
  • Enable ONLY "Enable Reading" permission
  • DISABLE "Enable Spot & Margin Trading"
  • DISABLE "Enable Futures" permission
  • DISABLE "Enable Withdrawals" - CRITICAL!
5

Set IP Restrictions (Recommended)

Add IP whitelist for extra security

IP restriction settings with input field
  • Click "Restrict access to trusted IPs only"
  • Add your tax software's IP addresses
  • Koinly IPs: Check their documentation
  • Or select "Unrestricted" for easier setup
6

Save Your API Credentials

Copy and store your API key and secret

API key and secret display screen
  • Copy your API Key (public)
  • Copy your Secret Key (shown only once!)
  • Store both securely - you cannot view the secret again
  • Click "Save" to confirm API creation

Required Permissions (Read-Only)

Tax software only needs READ access to your account. Never enable trading or withdrawal permissions when creating API keys for tax purposes.

Enable Reading

ENABLE

Required for tax software to read your transaction history, trades, and deposits/withdrawals.

Enable Spot & Margin Trading

DISABLE

NOT needed for tax software. Keep disabled to prevent unauthorized trades.

Enable Futures

DISABLE

NOT needed for tax software. Keep disabled even if you trade futures.

Enable Withdrawals

DISABLE

NEVER enable this for tax software. Critical security risk if enabled.

Connecting to Popular Tax Software

Once you have your API key and secret, connect them to your preferred tax software.

K

Koinly

Free - $279/year

  • Supports 800+ exchanges
  • DeFi & NFT tracking
  • Tax-loss harvesting
  • Multiple country support
Countries: US, UK, Canada, Australia, 65+ more
Visit Website
CT

CoinTracker

Free - $199/year

  • Portfolio tracking
  • Real-time prices
  • TurboTax integration
  • Cost basis methods
Countries: US, UK, Canada, Australia
Visit Website
CTC

CryptoTaxCalculator

$49 - $299/year

  • Advanced DeFi support
  • Margin trading
  • Smart contract analysis
  • Professional reports
Countries: US, UK, Australia, Canada, 65+ more
Visit Website
TT

TokenTax

$65 - $3,500/year

  • Full-service option
  • CPA review available
  • Audit support
  • NFT support
Countries: US, International
Visit Website

IP Whitelisting (Optional but Recommended)

IP whitelisting adds an extra layer of security by only allowing API access from specific IP addresses. If your tax software provides their IP addresses, add them to your API key restrictions.

IP Restricted (More Secure)

Only specified IP addresses can use the API key. Best for services with static IPs.

Unrestricted (Easier)

Any IP can use the API key. Acceptable with read-only permissions, but less secure.

Finding Tax Software IPs

Check your tax software's documentation or support pages for their IP addresses. Most providers list them in their help center under "API setup" or "Integration" guides.

Common Errors and Solutions

Invalid API Key

Cause: API key was entered incorrectly or has been deleted

Solution: Double-check for spaces or typos. Regenerate the key if needed.

API Key Expired or Revoked

Cause: Binance has disabled your API key due to inactivity or security

Solution: Create a new API key and update your tax software.

IP Not Whitelisted

Cause: Your tax software's IP is not in the allowed list

Solution: Add the software's IP addresses or set API to "Unrestricted".

Insufficient Permissions

Cause: "Enable Reading" permission is not enabled

Solution: Edit your API key and enable the "Enable Reading" checkbox.

Rate Limit Exceeded

Cause: Too many API requests in a short time

Solution: Wait 5-10 minutes and try syncing again.

Missing Transaction History

Cause: API only shows recent history or certain transaction types

Solution: Manually export CSV for older transactions from Binance.

Frequently Asked Questions

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