Vote here if you would like Accounting to track Binance staking automatically.
It would be great indeed
Thanks Djief! Don’t forget to vote by clicking on the blue vote button at the top,
Staking is one of the easiest ways to get some free money out of your holdings. So I have a quite large amount of my assets in fixed stakings and other products. Without these amounts accointing is rather useless and doesn’t provide anything better than binance’s own overview page wich includes all sorts of holdings.
This is really required I feel as widley used
Thanks Saraslug! Don’t forget to vote by clicking on the blue vote button at the top.
It would great to have this feature. Without staking my portfolio overview is not showing an accurate picture.
Yes yes yes and yes yes yes yes yes yes yes yes yes and yes , oui,
Binance Earn integration would be awesome and IMO this is a must for a product like Accointing.
yes, since I have started staking, my staked coins have disappeared from Accointing, unable to track them anymore. It would be great if staked coins were visible on Binance aswell as on Accointing to have a clear picture of my portfolio Thank you.
Hey guys, I just double-checked, sadly Binance does not send their staked data via their API and that is why you guys do not see it tracked on Accointing. We were never sent the data from Binance, so sadly this needs to be tracked manually. Once Binance starts sending this data through their API, Accointing will certainly implement it
Hey guys! I understand your frustration with the staked and staking classifications so just to clear this out from our standpoint:
all tokens that were staked=do not classify
all tokens that came as a reward for staked tokens=staking
The reason why we don’t have more strict guidelines is because there aren’t any and they are subject to the interpretation of the different jurisdictions. That bein said, here is an article from Bloomberg providing further context on the matter:
Now, the lender could be considered to have converted their crypto for another crypto when they “stake” their money into the liquidity pool and received another token they can sell elsewhere. That is a taxable event, so in this example, just as dividends are taxable, so are tokens generated from staking activities.
However, it’s not as straight-forward as that because this transaction can also be viewed in another way; in that what the lender deposited in the liquidity pool is still their money and the tokens they receive in exchange is nothing more than a receipt. That means it is not a taxable event.
Meanwhile, on the borrower’s side, it can be argued that depositing collateral and receiving a loan in a different token form is akin to an exchange transaction, so a taxable event. Of course, usually taking a loan is not a taxable event. However, the transaction on a DeFi is unique. Unlike conventional loans, it includes depositing one currency as collateral to receive a loan in another.
If you need any tax assistance with your crypto taxes, make sure you visit ACTAN in the Hub where any of our crypto tax professionals can help you out.
Below is a link to a blog post about the topic, staking pools would be handled the same way as liquidity pools. How to Import Liquidity Pool Transactions to ACCOINTING.com - Accointing Blog - Cryptocurrency Portfolio Tracking & tax Software
Consider this: Importing Binance CSV Transactions on ACCOINTING.com
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