Coinpanda integrates directly with BISON to simplify your tax reporting. Learn how to calculate your taxes and generate all required tax documents for BISON quickly.
If you have been trading, staking, or earning crypto on BISON, you must also calculate your taxes for all transactions. Coinpanda makes calculating crypto tax for BISON quick and easy by following these steps:
Create a free account and connect BISON to Coinpanda safely and securely
Next, Coinpanda will import all your trades, deposits, withdrawals, and rewards from BISON
Wait for Coinpanda to automatically calculate capital gains and income for your BISON transactions
Download your BISON tax report
File your BISON taxes before the deadline
Supported transactions
To calculate your taxes accurately, you must import all transactions from BISON to Coinpanda. Coinpanda supports the following transactions from BISON today:
Tx Type
API import
CSV file upload
Deposits and withdrawals
Spot trades
Import trades automatically with API
How to connect BISON with API
BISON does not support API connection at the moment. Please upload a CSV file with your transactions instead.
How to connect BISON with CSV
Follow these steps to export your transactions from BISON:
Log in to your account on BISON
Look for a page or button on BISON to export a CSV file containing your transaction data
Remember to export files for all your transactions:
deposits
withdrawals
trade history
interest payments
staking rewards
Upload the CSV file(s) to Coinpanda
How are BISON transactions taxed?
The exact tax implications on BISON 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 BISON.
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 BISON, 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 BISON transactions are taxed in your country, we recommend reading our in-depth guides to cryptocurrency taxes.
How do I file my BISON taxes?
First, you must calculate capital gains and income from all taxable transactions on BISON. 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 BISON. 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 BISON 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 BISON transactions to Coinpanda?
While we strive every day to ensure the highest possible accuracy for importing transactions from BISON 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 BISON API
Updated CSV file format
BISON 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 BISON 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, BISON does not provide complete and ready-to-file tax documents. This is because BISON does not have knowledge of your transactions on other exchanges, platforms, or from your self-custody wallets.
How do I get BISON tax documents?
The easiest way to get tax documents and reports is to connect your BISON account with Coinpanda which will automatically import your transactions. After that, you can download complete tax reports for BISON.
Does BISON provide financial or end-of-year statements?
No, BISON 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 BISON?
Yes, all transactions on BISON 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 BISON taxable?
No, transferring cryptocurrency to BISON is not taxed as long as you transfer between your personal wallets or exchange accounts.
How do I avoid paying taxes on BISON?
It is impossible to avoid paying taxes completely on BISON 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 BISON calculate my taxes?
BISON 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 BISON your entire life, it could technically do so.
Is BISON safe?
BISON is generally considered to be a safe exchange. Although BISON 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 BISON.
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.
