How to delete your Koin account

About deleting your Koin account

Koin is a dedicated cryptocurrency tax and portfolio tracking platform that integrates directly with various exchanges, wallets, and decentralized finance (DeFi) protocols. By aggregating your transaction history from multiple platforms, Koin calculates your tax liabilities, identifies capital gains or losses, and generates necessary tax forms. Users often choose to utilize Koin to simplify the complexity of reporting crypto transactions to tax authorities.

However, users may choose to delete their Koin accounts for several specific reasons related to their financial privacy. If you are migrating to a different tax reporting tool, have ceased crypto trading activities, or are concerned about the security of linking your exchange APIs to a third-party aggregator, removing your account is a prudent step in managing your digital footprint. Key reasons for deletion include:

• Minimizing the attack surface by removing active API keys associated with your exchange accounts.
• Discontinuing the storage of highly sensitive financial and transaction data on third-party servers.
• Decluttering your digital life after moving away from specific DeFi protocols or custodial exchanges.

What happens to your data

When you submit a deletion request for your Koin account, the platform initiates a process to purge your historical transaction logs, calculated tax reports, and user profile information. Because Koin processes tax-related data, it is important to understand that your information is handled according to their internal privacy policies and prevailing financial data protection regulations.

Specific data types collected and subsequently processed for deletion include:

• API connection credentials for linked exchanges and wallets.
• Full historical transaction data imported from blockchain addresses or exchanges.
• Tax calculation history, including realized and unrealized gain/loss reports.
• Personal account identifiers, such as email addresses and account settings.
• Metadata regarding your interactions with the Koin dashboard and platform tools.

While Koin removes your active data from their primary database, note that certain transactional records may be subject to legal data retention requirements mandated by financial oversight authorities in your jurisdiction, which might influence their data disposal timeline.

Privacy considerations

Using a platform like Koin involves providing granular access to your financial history. Even when you delete your account, it is critical to verify that you have revoked the API permissions you previously granted to Koin from within your respective crypto exchanges (e.g., Coinbase, Binance, Kraken). If you do not explicitly revoke these tokens, the exchange may still technically recognize an external connection.

Privacy tips for Koin users:

• Always audit your exchange settings to ensure all 'Read-only' API keys generated for Koin are fully deleted from the exchange side.
• Download all your generated tax reports and transaction backups from Koin before requesting account deletion, as these will become inaccessible.
• Use a dedicated, unique email address for financial management tools to isolate your data from marketing or social tracking.

Frequently Asked Questions

Will deleting my Koin account also delete my history on the exchanges I connected?

No. Deleting your Koin account only removes the data stored within the Koin ecosystem. Your actual exchange accounts and their internal transaction histories remain completely intact.

Do I need to empty my wallet before deleting my Koin account?

While Koin does not hold your actual crypto assets, it is highly recommended to have a zero balance or clear status within the Koin tax dashboard to ensure the system processes your final tax reports correctly before closure.

Can I recover my tax data after I request deletion?

No. Once your Koin account is deleted, your historical tax reports and calculated data are purged. Ensure you have downloaded all necessary files for your records prior to initiating the request.

How long does it take for Koin to finalize the account deletion?

After submitting your request through the contact form, Koin typically verifies the status and initiates the purge. You should receive a confirmation email when the process is complete, though timing can vary based on support volume.

Is it enough to just delete the account, or should I revoke API keys too?

It is essential to do both. Deleting your Koin account removes the data from their platform, but revoking API keys directly inside your crypto exchange accounts ensures that no external service can continue to read your wallet data.