Ethereum 2 Support

Dear Koinly,

Was wondering if you had any plans to support Ethereum 2? I am thinking about staking, so if my ethereum was sent to a deposit contract, and burnt, then recreated on eth2, I will be earning validator rewards, so would be good to track this income in Koinly.

Seeing eth2 ethereum is the same asset, “ethereum” I would also expect there would be no capital gains for moving the ethereum it would just be seee as moving it from one wallet to another?

Kind Regards

Where would you earn these validator rewards? On your eth address or a different eth2 address?

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So from my understanding, you deposit eth into a depesit contract which burns the eth on the current chain and recreates it on the eth2 beacon chain, you then earn eth as rewards to your address on the eth2 beacon chain.

Eventually, in 1-2 years the eth1 and eth2 chains will merge, so all ethereum on both chains is the same asset.

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Missing this feature as well. How can I add my Ethereum 2 validator account?

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I am running a validator node and indeed, It would be great if we had a feature that tracks how much ETH2 we have staked on the beacon chain, and how much staking reward we are receiving. One validator = 32 ETH(2) so it can be a significant portion of one’s portfolio. If we won’t be able to realize any capital gains until ETH2.0 becomes tradeble (1 or 2 years from now), validators do receive staking income every ~6.2 minutes, which should be reported as a taxable income. If we don’t consider the technological risk of Ethereum2.0, then we can consider that 1 ETH1.0 = 1 ETH2.0 from a tax perspective.

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Yes, this is also my understanding. One must keep in mind though that if converting ETH1 to ETH2 is possible, converting ETH2 to ETH1 is not possible. But from a tax perspective that should not matter.

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I wonder if this is the case also with staking services, like ETH2.S from Kraken which you get by staking.

However you can also get it by trading as it is allowed in both directions (with ETH2.S - ETH pair), lido.fi, soon Coinbase and others…

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You’d think koin.ly could just read the validator information from beaconcha.in

It’s honestly a bit concerning that nothing has been implemented to address this

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Missing this feature also. Any updates on this?

It is nice that Koin.ly sees the deposits as part of the portfolio, there just isn’t any revenue accounting for validator rewards. 2020 only saw 1 month of eth2 validating IIRC, so the liability isn’t huge, but it is a concern.

Three and a half months of ethereum staking and i don’t think ANY crypto tax software tracks a personal validator setup via the beacon chain

What gives?

Hello, i also need it :S

Need this too, or is there a way to import the info into Koinly? I have a sheet with my earnings.

Until Koinly software is updated to properly understand the swap, I have manually added the transaction as such.

  1. Add the first Manual transaction as ‘Trade’ and change the topmost drop box on the menu to ’ Swap ’ as shown below.

  1. Second make another manual transaction for ’ Withdrawal ’ as below

  1. Tag this withdrawal transaction as " Sent to pool ". ( FYI if you have duplicate transactions making the falsely high or low balance of ETH, you will have to soft delete all that so Koinly does not get confused)

Also, Date and time stamp is important as it tells Koinly how to sequence the transaction. You have to look up the actual date and time of staking and put it as close to those transactions as you can to maintain the proper flow of transactions.

I know this is a hassle if you have two many small transactions going into pool but for at least this works for me appropriately for time being.

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Thanks, I’ll go with the same approach for now. Although as this is now an “official” swap, capital gains will apply here, right?

And then rewards have to be manually added (or imported via Kraken .csv), as this doesn’t seem to be synced through the API, like other Kraken staking rewards?

@koinly any word on an update, to support ETH staking / ETH2 support via Kraken API?

I also need this feature. I am staking ETH on kraken.

+1 vote for ETH2 support
I have a validator public key, I would like to be able to add this & have koinly track the rewards as income.

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Just to add, the competition (I won’t name them, but I’ve tried a few) now have ETH2 staking figured out, and they can also properly import the ETH2 interest tx through the Kraken API.

I would hate to have to switch to another service because of this, because I invested my time in Koinly and I think its UX is still superior, but in the end it might not be worth the hassle if this isn’t fixed.

Can we get any word from Koinly on this? This is a really important feature for me as I would like to track my validator income and have the transfer into the eth2 deposit contract be recognized as my eth balance.

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Hi All,

Any update on this one? Raised the case over 6 months ago now. Is it a priority? As the Merge (eth1 and eth2 chains merging) is going to happy early next year, so best to prepare for that now.

Cheers
Nick