Coinpanda integrates directly with Bilaxy to simplify your tax reporting. Learn how to calculate your taxes and generate all required tax documents for Bilaxy quickly.
If you have been trading, staking, or earning crypto on Bilaxy, you must also calculate your taxes for all transactions. Coinpanda makes calculating crypto tax for Bilaxy quick and easy by following these steps:
Create a free account and connect Bilaxy to Coinpanda safely and securely
Next, Coinpanda will import all your trades, deposits, withdrawals, and rewards from Bilaxy
Wait for Coinpanda to automatically calculate capital gains and income for your Bilaxy transactions
Download your Bilaxy tax report
File your Bilaxy taxes before the deadline
Supported transactions
To calculate your taxes accurately, you must import all transactions from Bilaxy to Coinpanda. Coinpanda supports the following transactions from Bilaxy today:
Tx Type
API import
CSV file upload
Deposits
Withdrawals
Trades
RECOMMENDED
How to connect Bilaxy with API
We are only requesting view permissions. This does not give us access to your private keys or the ability to move your funds.
Follow these steps to add your Bilaxy account to Coinpanda with API:
Bilaxy suffered a hot wallet hack on August 28, 2021. The API is currently offline due to this, but you can still upload old CSV files. If you have questions regarding if/when Bilaxy will be operational again, please contact Bilaxy support.
Note that Bilaxy only allows for data export for the past 3 months from their API. If you have transactions from before that date, you will need to upload a CSV file with older transactions as well.
How to connect Bilaxy with CSV
Follow these steps to export your transactions from Bilaxy:
Bilaxy does not allow exporting your trade/order history as a CSV file from the web interface. You need to contact Bilaxy customer support to request a full historical CSV file of your transactions.
How are Bilaxy transactions taxed?
The exact tax implications on Bilaxy transactions depend on which country you live in and the type of transactions you have made. In general, you must pay either capital gains tax or income tax on your cryptocurrency transactions on Bilaxy.
Capital gains tax: Whenever you sell a cryptocurrency for more than you purchased it for, you generate a capital gain. On the other hand, if you sell the cryptocurrency for less than you paid initially, you have a capital loss, which can offset other gains in most cases.
Income tax: Earned cryptocurrency on Bilaxy, such as staking, interest, bonuses, and referral rewards, is typically seen as taxable income from a tax perspective and must be reported in your tax return.
To learn more about how Bilaxy transactions are taxed in your country, we recommend reading our in-depth guides to cryptocurrency taxes.
How do I file my Bilaxy taxes?
First, you must calculate capital gains and income from all taxable transactions on Bilaxy. When you have this information ready, you can report capital gains and income together with other forms of income such as employment and dividends in your annual tax return.
To calculate your capital gains, you must first export a complete history of all transactions made on Bilaxy. Once you have this data, you can calculate your capital gains or losses by determining the price at which you bought the cryptocurrency (your cost basis) and the price at which you sold it (your proceeds). Luckily, Coinpanda can help you with this and generate ready-to-file tax forms quickly and easily.
After downloading your Bilaxy tax statements from Coinpanda, the last step is to report the capital gains and income on your tax return before the deadline. Most countries allow you to self-declare taxes online in 2023, but you can also get help from a professional tax accountant to file taxes for you.
How do I troubleshoot the imported Bilaxy transactions to Coinpanda?
While we strive every day to ensure the highest possible accuracy for importing transactions from Bilaxy to Coinpanda, it can happen that either not all transactions are imported or that some data is imported incorrectly. Some reasons for this can be:
Changes in the Bilaxy API
Updated CSV file format
Bilaxy does not provide a complete record of all transactions
To get the best help from Coinpanda support, you must first identify which transactions are missing or incorrectly imported. To do this, we recommend comparing your transaction history on Bilaxy with the transactions imported into your Coinpanda account. See also our help article with an overview of known exchange API limitations.
The quickest way to get help from our dedicated support team is to send a message in the Live Chat.
No, Bilaxy does not provide complete and ready-to-file tax documents. This is because Bilaxy does not have knowledge of your transactions on other exchanges, platforms, or from your self-custody wallets.
How do I get Bilaxy tax documents?
The easiest way to get tax documents and reports is to connect your Bilaxy account with Coinpanda which will automatically import your transactions. After that, you can download complete tax reports for Bilaxy.
Does Bilaxy provide financial or end-of-year statements?
No, Bilaxy does not provide a complete financial or end-of-year statement for your crypto transactions. However, you can get this using a crypto tax calculator.
Do I have to pay taxes on Bilaxy?
Yes, all transactions on Bilaxy involving the disposal of a crypto asset are in most cases taxable. You must also pay income tax on earned crypto such as staking, interest, or referral rewards.
Is transferring to Bilaxy taxable?
No, transferring cryptocurrency to Bilaxy is not taxed as long as you transfer between your personal wallets or exchange accounts.
How do I avoid paying taxes on Bilaxy?
It is impossible to avoid paying taxes completely on Bilaxy legally if you live in a country that taxes cryptocurrency. However, there are several ways you can reduce your taxes, such as tax loss harvesting.
Can Bilaxy calculate my taxes?
Bilaxy cannot calculate your taxes since it does not have knowledge of your transactions made on other exchanges or platforms. However, if you have only interacted with crypto on Bilaxy your entire life, it could technically do so.
Is Bilaxy safe?
Bilaxy is generally considered to be a safe exchange. Although Bilaxy follows industry best practices for safety and to prevent malicious attacks, there is always a risk associated with keeping your crypto on centralized third-party exchanges including Bilaxy.
