Coinpanda integrates directly with Binance to simplify your tax reporting. Learn how to calculate your taxes and generate all required tax documents for Binance quickly.
If you have been trading, staking, or earning crypto on Binance, you must also calculate your taxes for all transactions. Coinpanda makes calculating crypto tax for Binance quick and easy by following these steps:
Create a free account and connect Binance to Coinpanda safely and securely
Next, Coinpanda will import all your trades, deposits, withdrawals, and rewards from Binance
Wait for Coinpanda to automatically calculate capital gains and income for your Binance transactions
Download your Binance tax report
File your Binance taxes before the deadline
Supported transactions
To calculate your taxes accurately, you must import all transactions from Binance to Coinpanda. Coinpanda supports the following transactions from Binance today:
Tx Type
API import
CSV file upload
Spot trades
Deposits and withdrawals
Staking/Airdrops/Rewards/Distributions
Dust to BNB conversion
Binance Liquid Swap (BSwap)
Binance Leveraged Tokens (BLVT)
Convert History
Buy/Sell Crypto History (fiat)
Fiat deposits/withdrawals
C2C Trades
Binance Pay (Binance Card)
Commission rebates
Referral kickbacks
BUSD Auto-Conversion
Futures trading (realized pnl, funding, fees)*
Margin trading (Cross)*
Margin trading (Isolated)*
* Binance (All Accounts) lets you import transactions from all your Binance accounts into a single wallet. If you use the standard Binance integration instead, you will need to create separate wallets for Binance Futures, Binance Cross Margin, and Binance Isolated Margin.
RECOMMENDED
How to connect Binance 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 Binance account to Coinpanda with API:
The Binance API has several limitations that are important to be aware of. Please refer to this list for more information and guidance on how to proceed.
How to connect Binance with CSV
Follow these steps to export your transactions from Binance:
Only the relevant transactions will be imported into each wallet, so you do not need to edit any files. Duplicate transactions will not be imported.
While the Transaction History file is the recommended option, you can also upload other CSV or XLSX files exported from Binance. Below, we mention the other files you can export from your Binance account.
Trade history (spot):Trade History > Spot > Trade History
Order history (spot):Trade History > Spot > Order History
Deposits:Asset History > Deposit History
Withdrawals:Asset History > Withdraw History
C2C history:Asset History > C2C History
Referrals:Asset History > Referral History
Futures transaction history:Trade History > Futures > Transaction History
Futures position history:Trade History > Futures > Position History
Binance API limitations
Both the Binance API and file export functionality (web interface) have several limitations which are very important to be aware of.
Trades made with delisted coins cannot be synced from API. You have essentially two options to get around this if you have traded any delisted coins:
Select the Start import from: Now option in the modal where you add API keys and upload your historical transactions with CSV/XLSX files instead
Add trades with delisted coins using the Coinpanda generic file or uploading a CSV/XLSX file from Binance that ONLY contains trades for delisted coins to avoid duplicate transactions with data already imported from API
Only dust to BNB conversions from December 1, 2020, can be imported
Internal Binance transfers between your Spot, Futures, and Margin wallets can only be imported from the past 6 months. This limitation was introduced by Binance in November 2021. Unfortunately, we don’t have any control over what changes Binance decides to make now or in the future.
We recommend using the Coinpanda generic file whenever you import transactions manually.
How are Binance transactions taxed?
The exact tax implications on Binance 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 Binance.
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 Binance, 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 Binance transactions are taxed in your country, we recommend reading our in-depth guides to cryptocurrency taxes.
How do I file my Binance taxes?
First, you must calculate capital gains and income from all taxable transactions on Binance. 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 Binance. 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 Binance 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.
Calculate your Binance taxes
Sign up free today to calculate your Binance taxes
How do I troubleshoot the imported Binance transactions to Coinpanda?
While we strive every day to ensure the highest possible accuracy for importing transactions from Binance 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 Binance API
Updated CSV file format
Binance 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 Binance 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, Binance does not provide complete and ready-to-file tax documents. This is because Binance does not have knowledge of your transactions on other exchanges, platforms, or from your self-custody wallets.
How do I get Binance tax documents?
The easiest way to get tax documents and reports is to connect your Binance account with Coinpanda which will automatically import your transactions. After that, you can download complete tax reports for Binance.
Does Binance provide financial or end-of-year statements?
No, Binance 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 Binance?
Yes, all transactions on Binance 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 Binance taxable?
No, transferring cryptocurrency to Binance is not taxed as long as you transfer between your personal wallets or exchange accounts.
How do I avoid paying taxes on Binance?
It is impossible to avoid paying taxes completely on Binance 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 Binance calculate my taxes?
Binance 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 Binance your entire life, it could technically do so.
Is Binance safe?
Binance is generally considered to be a safe exchange. Although Binance 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 Binance.
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site.
Functional
Always active
These cookies are essential for the proper functioning of the website and cannot be disabled.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Analytics
These cookies collect information about how you use our website. All of the data is anonymized and cannot be used to identify you.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
