The easiest way to use CryptoSkat is by uploading your transactions via an API.

When you connect your CryptoSkat account with your exchange and wallet accounts via API, we make sure to automatically upload all your transaction data from all exchanges and wallets connected via API.

All it requires on your part is setting up an API key in your exchange or wallet and a few clicks in CryptoSkat.

CryptoSkat then takes care of retrieving all your transaction data from all transactions.

Some exchanges only store your transaction data, for transfer via API, for a few weeks, other exchanges store it for 3 months.

CryptoSkat solves this potential problem by automatically retrieving your transaction data once a week from the time you have connected your exchange account via API. In this way, CryptoSkat ensures that you can always document and calculate your transactions – without you having to do anything other than connect your exchange account with CryptoSkat once.

A challenge in trading crypto is that there are still few standards in the field. There are e.g. no standards for which data the various exchanges send via API connections.

It therefore happens that some of the data we receive via your API connections is incomplete.

In case transaction data from an API transfer is missing, e.g. USD value of a fee paid with 0.01 ETH, CryptoSkat loads the missing data from CryptoCompare. CryptoCompare is a recognized and market-leading provider of historical data for digital assets across all exchanges and can provide historical data accurate to 1-minute interval levels.

This ensures that you always have accurate data for your trades – either retrieved from your exchange via API or retrieved from CryptoCompare.

It all happens automatically and continuously every week, once your exchange and wallet accounts are connected to CryptoSkat via API.