How to Report Your BitForex Taxes

What is BitForex?

BitForex is a centralized cryptocurrency exchange platform where users have traded spot markets and perpetual contracts, along with features such as MT5 and social trading. After a 2024 service interruption, the platform has kept trading and deposits suspended while processing withdrawals for eligible users. For anyone with past BitForex trades, transfers, or other account history, those transactions may still matter for tax reporting, and this guide explains how to handle them with Coinpanda.

How to do your BitForex taxes

You can easily report your BitForex taxes by uploading your BitForex transaction history to Coinpanda as a CSV file. Coinpanda automatically imports your transactions, calculates your capital gains and income, and generates ready-to-file tax reports for BitForex.

Does BitForex provide tax documents?

Typically, exchanges don't provide finalized tax documents for their customers, and BitForex is no exception. It's hard for an exchange to build tax logic that serves customers across many jurisdictions. Hence, it's more practical for a customer to use a tax platform like Coinpanda.

How are BitForex transactions taxed?

The exact tax implications on BitForex 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 BitForex.

• 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, in most cases, offset other gains.
• Income tax: Earned cryptocurrency on BitForex, such as staking, interest, bonuses, and referral rewards, is typically treated as taxable income and must be reported on your tax return.

To learn more about how BitForex transactions are taxed in your country, we recommend reading our in-depth guides to cryptocurrency taxes.

How to file your BitForex taxes

First, you must calculate capital gains and income from all taxable transactions on BitForex. 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 BitForex. 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 BitForex 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 2026, but you can also get help from a professional tax accountant to file taxes for you.

How do I troubleshoot the imported BitForex transactions to Coinpanda?

While we strive every day to ensure the highest possible accuracy when importing transactions from BitForex to Coinpanda, it may happen that not all transactions are imported or that some data is imported incorrectly. Some reasons for this can be:

• Changes in the BitForex API
• Updated CSV file format
• BitForex 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 BitForex 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.

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