If you have been trading, staking, or earning crypto on Bitbank, you must also calculate your taxes for all transactions. Coinpanda makes calculating crypto tax for Bitbank quick and easy by following these steps:
Create a free account and connect Bitbank to Coinpanda safely and securely
Next, Coinpanda will import all your trades, deposits, withdrawals, and rewards from Bitbank
Wait for Coinpanda to automatically calculate capital gains and income for your Bitbank transactions
Download your Bitbank tax report
File your Bitbank taxes before the deadline
To calculate your taxes accurately, you must import all transactions from Bitbank to Coinpanda. Coinpanda supports the following transactions from Bitbank today:
CSV file upload
How to connect Bitbank 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 Bitbank account to Coinpanda with API:
Hover over the user icon in the top right and select ‘API’
Click on ‘APIキーの発行‘ (API key issuance)
Enter a name for your API key (ex: Coinpanda)
Select ‘参照‘ (Read/Reference-only)
Enter your 2FA code and click ‘Confirm’
Copy the API key and Secret key to Coinpanda
The Bitbank API does not currently provide access to deposits and withdrawal history. Please upload a CSV file with your transfer history to ensure accurate tax calculations. You can also contact Bitbank customer support and ask if they plan to update their API in the future.
How to connect Bitbank with CSV
Follow these steps to export your transactions from Bitbank:
Hover over the user icon in the top right and select ‘履歴‘ (History)
Select ‘取引所 取引履歴‘ (Exchange transaction history)
Choose a currency-pair – ‘通貨ペア‘ – Repeat for each currency you have
Choose a date range and click on ‘CSVダウンロード‘ (CSV download)
Upload the CSV file(s) to Coinpanda
How are Bitbank transactions taxed?
The exact tax implications on Bitbank 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 Bitbank.
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 Bitbank, 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 Bitbank transactions are taxed in your country, we recommend reading our in-depth guides to cryptocurrency taxes.
How do I file my Bitbank taxes?
First, you must calculate capital gains and income from all taxable transactions on Bitbank. 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 Bitbank. 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 Bitbank 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 Bitbank taxes
Sign up free today to calculate your Bitbank taxes
How do I troubleshoot the imported Bitbank transactions to Coinpanda?
While we strive every day to ensure the highest possible accuracy for importing transactions from Bitbank 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 Bitbank API
Updated CSV file format
Bitbank 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 Bitbank 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, Bitbank does not provide complete and ready-to-file tax documents. This is because Bitbank does not have knowledge of your transactions on other exchanges, platforms, or from your self-custody wallets.
How do I get Bitbank tax documents?
The easiest way to get tax documents and reports is to connect your Bitbank account with Coinpanda which will automatically import your transactions. After that, you can download complete tax reports for Bitbank.
Does Bitbank provide financial or end-of-year statements?
No, Bitbank 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 Bitbank?
Yes, all transactions on Bitbank 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 Bitbank taxable?
No, transferring cryptocurrency to Bitbank is not taxed as long as you transfer between your personal wallets or exchange accounts.
How do I avoid paying taxes on Bitbank?
It is impossible to avoid paying taxes completely on Bitbank 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 Bitbank calculate my taxes?
Bitbank 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 Bitbank your entire life, it could technically do so.
Is Bitbank safe?
Bitbank is generally considered to be a safe exchange. Although Bitbank 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 Bitbank.