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How to Report Your Bittrex Taxes

Coinpanda integrates directly with Bittrex to simplify your tax reporting. Learn how to calculate your taxes and generate all required tax documents for Bittrex quickly.

API Import
CSV File Upload
Connect to Bittrex

Supported transactions

To calculate your taxes accurately, you must import all transactions from Bittrex to Coinpanda. Coinpanda supports the following transactions from Bittrex today:

Tx TypeAPI importCSV file upload
Depositscheck solid greencheck solid green
Withdrawalscheck solid greencheck solid green
Tradescheck solid greencheck solid green
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How to connect Bittrex 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 Bittrex account to Coinpanda with API:

  1. Go to ‘My Account’ and then click on the ‘API Keys’ tab
    (https://global.bittrex.com/Manage?view=api)
  2. Click ‘Create New API Key’
  3. Enable only the ‘Read info’ permission, enter the 2FA code, and click ‘Continue’
  4. Copy the API Key and Secret Key to Coinpanda

How to connect Bittrex with CSV

Follow these steps to export your transactions from Bittrex:

  1. Click on ‘Orders’ in the top header to see your Bittrex transaction history
    (https://global.bittrex.com/history)
  2. Click the ‘Download History’ button – Remember to export CSV files for all years!
  3. Upload the CSV file(s) to Coinpanda

Bittrex does not support the export of the deposits and withdrawals history. If you don’t import using API, you will need to add these manually.

How are Bittrex transactions taxed?

The exact tax implications on Bittrex 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 Bittrex.

  • 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 Bittrex, 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 Bittrex transactions are taxed in your country, we recommend reading our in-depth guides to cryptocurrency taxes.

How do I file my Bittrex taxes?

First, you must calculate capital gains and income from all taxable transactions on Bittrex. 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 Bittrex. 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 Bittrex 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 Bittrex taxes

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How do I troubleshoot the imported Bittrex transactions to Coinpanda?

While we strive every day to ensure the highest possible accuracy for importing transactions from Bittrex 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 Bittrex API
  • Updated CSV file format
  • Bittrex 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 Bittrex 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.

Start Live Chat!

Other options for contacting support:

01
Forum

Find answers in our community forum

02
Email

Create a support ticket by email

03
Twitter / X

Ask or send us a message on Twitter

04
Discord

Chat with our support team on Discord

Frequently asked questions

Does Bittrex provide tax documents?

No, Bittrex does not provide complete and ready-to-file tax documents. This is because Bittrex does not have knowledge of your transactions on other exchanges, platforms, or from your self-custody wallets.

How do I get Bittrex tax documents?

The easiest way to get tax documents and reports is to connect your Bittrex account with Coinpanda which will automatically import your transactions. After that, you can download complete tax reports for Bittrex.

Does Bittrex provide financial or end-of-year statements?

No, Bittrex 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 Bittrex?

Yes, all transactions on Bittrex 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 Bittrex taxable?

No, transferring cryptocurrency to Bittrex is not taxed as long as you transfer between your personal wallets or exchange accounts.

How do I avoid paying taxes on Bittrex?

It is impossible to avoid paying taxes completely on Bittrex 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 Bittrex calculate my taxes?

Bittrex 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 Bittrex your entire life, it could technically do so.

Is Bittrex safe?

Bittrex is generally considered to be a safe exchange. Although Bittrex 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 Bittrex.

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