Recap supports direct integration with Binance via read-only APIs pulling in your transaction history and creating a real-time connection to your account. We have outlined the process for you below...
Please note - this isn't a fully automated process if you have Staking Rewards, Referral Commission, OTC trades (Conversions), Leveraged tokens redemptions and Dust exchanges. For this activity, due to the restrictions of Binance's API, you will have to download Binance statement files and upload them into Recap as explained in Steps 3/4 below.
Step 1 - Create a new API Key in Binance
Log in to your Binance account and find the "API Management" tool in the User dropdown.
Type a label for the key, e.g. 'Recap', and click 'Create'.
Check your emails for verification from Binance and confirm you made the API request.
Back in Binance, you will see your new API and Secret keys.
💡 Ensure you record the 'Secret Key' as it will only be accessible once.
Step 2 - Connect to your Binance account within Recap
In the Recap app head to "Accounts" and click the "Add Connected Account" button, in the top right.
A modal appears, select Binance from the dropdown list of exchanges and then click next.
Type a name for the account and click next.
Fill in the fields with the API Key and Secret Key you created in step one then click next.
The modal closes and you'll be back at "Accounts" where a Binance card has been added and you'll see your data is syncing. Depending on the volume of data this may take a few minutes.
Step 3 - Upload your historical Binance statements
Unfortunately, as mentioned above the Binance API is limited so you'll find that your staking rewards, referral commission and leveraged token redemptions are missing - you will need to add this separately as it cannot be retrieved automatically. (We are in contact with Binance and hope they'll address this in the future).
You need to download Binance statement files that document your transaction history and upload the CSVs directly to Recap. You should do this now (when first connecting your Binance account) for all of your historical data and at regular intervals in the future for transactions you are yet to make (more advice on this in step 4). Here is how...
In Binance head to the "Wallet" dropdown and select "Fiat and Spot (Deposit and Withdraw)".
Click "Deposit Withdraw History" and you'll be led to Transaction History.
Next, click "Generate All Statements".
In the pop-up that appears in "Range" choose "Customize" and use the calendar to select the date range for your historical data.
Click the "Generate" button. You'll notice your request appear in the submission list - when your data is ready you will be sent an email containing a link to download it.
💡 You may have to download multiple files as Binance has a limit of three months of data per CSV. They are also restrictive with the number of files you can download, so you may be unable to complete this process in one session. Be sure to leave yourself plenty of time when filing your tax return!
So, when you receive your data head back to Recap. In the Accounts page hover over the settings cog on your Binance card, then click "Manage Statements".
The Binance Statement Manager will open. Here you can see all the files you have already uploaded and add more.
Click "Browse" to locate your CSV and then click "Import". The modal will close taking you back to Accounts where you will see your data is loading; this may take some time depending on the number of transactions.
Step 4 - Keeping your Binance account updated
You will need to continue adding this data for future transactions and should do this by following Step 3, changing the date range within the Binance CSV generator to the period required. It is entirely up to you how to keep on top of this and how often you choose to do it, but your data and therefore your tax report will not be truly accurate until you do.
For efficiency and to avoid errors try to get into a routine and stay consistent. We recommend creating one CSV per calendar month, as this makes selecting a date range simple so there is less chance of overlap and incorrect (duplicate) data.
If you use Recap regularly and want to keep your account more up to date you may decide on smaller date ranges, adding data more frequently.
💡 Name your CSV's appropriately. If you import a new CSV that shares the name as an existing CSV, Recap assumes there is duplication and automatically deletes the old file replacing it with the new one.
What about Binance Futures?
Futures can be added by creating another connected account (Step 2) using the same API keys. Simply select Binance Futures when you reach the exchange dropdown. The Binance Futures support is fully automated, Recap will retrieve all of your fiat currency transactions.