To delete a wallet from Koinly, select the 3 dots next to the wallet, and select 'delete'.
Wallets are central to tracking your cryptocurrency transactions in Koinly. Proper management of your wallets ensures data accuracy and minimizes discrepancies in your tax reports.
Deleting a wallet not only removes all associated transactions permanently but also impacts manual adjustments made to those transactions. If a deleted wallet is re-added in the future, users will need to redo these manual adjustments.
This will delete the wallet and all transactions in it.
Keep in mind! Deleting a wallet cannot be reversed, so if you need to re-import the wallet/exchange again, you will need to select 'Add wallet / exchange' and import your data again. Additionally, for API-integrated wallets, deletion is permanent and cannot be restored. It is recommended to test significant changes in a secondary account to avoid accidental loss of critical data.
Once a wallet is deleted, any transactions that have been merged into transfers will be unmerged, as all transactions in a deleted wallet are removed.
What happens to transfers if I delete a wallet?
When you delete a wallet, all transfers and cross-wallet trades will be split. For example, if you have a transfer of 1 BTC from Kraken to Binance and you delete the Kraken wallet, the result will be a deposit of 1 BTC on Binance, while the withdrawal from Kraken will be deleted.
Please note this only applies when you delete an entire wallet, not when you bulk delete transactions from the Transactions page.
If you have lost access to wallets from the past, you can still add their data to Koinly. Use your public key (also known as a receive address) to import historical transaction data. Public keys are part of public blockchain data and can often be identified from other transactions in your account.
Archiving a Wallet/Exchange
If you want to remove your wallet from your view only, and want to retain all of your wallet's imported transactions, you can select 'Archive' instead of 'Delete'. The wallet will then be moved to the bottom of your wallet list, but it can still be unarchived, accessed, or synced if needed. As a best practice, double-check the need for deletion or archiving, as unnecessary deletion can lead to complications. Retaining unused wallets and utilising secondary accounts for testing changes are practical measures to ensure data integrity.