Recap supports direct integration with Kraken Futures via read-only API access and accountLog CSV file. Once set up, the Recap's application will categorise all of your transaction history and calculate your tax position.
As there is no explicit cryptocurrency futures tax guidance from the IRS or HMRC, Recap has excluded the futures net gains or losses for a tax year from the capital gains tax summary, leaving it to your tax advisor or accountant to make a determination of how this should be treated.
For your security and privacy, the integration with Recap and Kraken is a direct connection between the Recap app and Kraken. Recap as a service does not hold any credentials that would allow us to connect to your accounts. . We also use end-to-end encryption to ensure that the only person who can see your data is you.
Step 1 - Log in to Kraken Futures
Login to Kraken Futures as you normally would.
Step 2 - Navigate to Settings
Navigate to your profile (top right) then choose Settings.
Step 3 - Generate a new API Key
Create a new API key with General API set to "Read Only" and Withdrawal API "No Access".
Step 4 - In Recap connect your Kraken Futures Account by Entering the API Key and Private Key
In Accounts click the Add Account button, then select Exchange API and select Kraken Futures.
Copy and paste (or very carefully type) the Public and Private keys you created into the fields.
Step 5 - Download Account Logs
Head over to the Logs section of the Kraken Futures website.
At the bottom of the page. Select Download All. Save the file to disk.
Step 6 - Upload Account Logs to Recap
In Recap select the Account Log file you have just downloaded and click next.
Congratulations Kraken Futures transactions are now in Recap!
We are currently working with Kraken to make this process quicker.
In the meantime, please continue to keep your account updated by periodically uploading new account logs into Recap. To do this click the Settings cog on your Kraken account card then select Upload New Account Log.
As soon as Kraken support a better way we'll upgrade Recap to support it.
Click Support in the bottom left of the app to talk to us directly or join our telegram group to chat to other users.