Crypto-asset transfers are irreversible by nature, so always make sure before making a transfer that:
You are using the correct wallet address
You are using the correct network (blockchain) supported by Kvarn X
You include all required identifying information (e.g. Tag/Memo)
Tip: If you are transferring crypto-assets for the first time or transferring a larger amount, make a small test transfer first to verify that the address works correctly.
How to make a crypto transfer to Kvarn X (crypto deposit):
Mobile application:
Go to Transfer in the bottom menu
Select Deposit crypto
Select the crypto-asset you want to transfer from the list
Read the instructions and confirm that you have read them
Copy the displayed wallet address and any additional information (Tag/Memo)
Go to the external service (e.g. Coinmotion, Binance, Ledger, etc.) and make the transfer according to the instructions and confirmation steps provided there
Web application:
Go to Transfer in the menu
Select Deposit crypto
Select the crypto-asset you want to transfer from the list
Copy the displayed wallet address and any additional information (Tag/Memo)
Go to the external service (e.g. Coinmotion, Binance, Ledger, etc.) and make the transfer according to the instructions and confirmation steps provided there
Collecting sender information
Before the transfer can be confirmed in your Kvarn X portfolio, you must provide the required sender information (this will typically appear under Transactions approximately 20 minutes after the transfer has been sent):
Who is sending the funds?
Myself
Another third party (for example, a family member or company)
Where are the funds coming from?
My own wallet (Ledger/Trezor/MetaMask/Phantom)
A crypto service (e.g. Coinmotion, Binance, Kraken, etc.)
Complete the information carefully and select Submit. Once all required information has been successfully provided and the transfer has received the necessary confirmations, the deposit will be credited to your portfolio.
⚠️ Taxation (remember to update the acquisition cost):
When making a crypto deposit, it is important to check and add the following transaction details:
Basic transaction details (date, amount, crypto-asset)
Acquisition cost (this is set to €0.00 by default – the return calculation will show ∞)
You can enter the acquisition cost of the crypto-assets you have transferred directly in connection with the transfer transaction in Kvarn X. This enables:
More accurate tracking of gains and losses
Maintaining the correct accounting sequence (FIFO)
Easier reporting to the tax authority
The user is responsible for reporting capital gains and losses to the tax authority.
How to update the acquisition cost (web application only):
The ability to update the acquisition cost will also be added to the mobile application soon!
Go to the Kvarn X web application (Kvarn X website > Log in)
Sign in to the service and open the web application home view
Go to Transactions in the menu
Select the crypto deposit ("Transfer in") you made
Select Edit and add the acquisition cost to the transaction.