Coinpanda integrates directly with BKEX to simplify your tax reporting. Learn how to calculate your taxes and generate all required tax documents for BKEX quickly.
If you have been trading, staking, or earning crypto on BKEX, you must also calculate your taxes for all transactions. Coinpanda makes calculating crypto tax for BKEX quick and easy by following these steps:
Create a free account and connect BKEX to Coinpanda safely and securely
Next, Coinpanda will import all your trades, deposits, withdrawals, and rewards from BKEX
Wait for Coinpanda to automatically calculate capital gains and income for your BKEX transactions
Download your BKEX tax report
File your BKEX taxes before the deadline
Supported transactions
To calculate your taxes accurately, you must import all transactions from BKEX to Coinpanda. Coinpanda supports the following transactions from BKEX today:
Tx Type
API import
CSV file upload
Trades
Deposits
Withdrawals
BKEX requires trading access in order to provide data for your historical trades from the API. Because of this, we do NOT recommend using this API. However, if you decide to do, you must be aware that all your funds will be at risk and you should delete the API keys after importing all transactions to Coinpanda. Requiring trading access is a bug in BKEX’s API software and you can contact their support so that they can fix this in the future.
RECOMMENDED
How to connect BKEX 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 BKEX account to Coinpanda with API:
It does look like BKEX has deactivated the functionality for exporting CSV files of deposits, withdrawals, and trade history. We recommend contacting BKEX customer support and requesting a CSV export if you need this.
How are BKEX transactions taxed?
The exact tax implications on BKEX 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 BKEX.
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 BKEX, 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 BKEX transactions are taxed in your country, we recommend reading our in-depth guides to cryptocurrency taxes.
How do I file my BKEX taxes?
First, you must calculate capital gains and income from all taxable transactions on BKEX. 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 BKEX. 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 BKEX 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 BKEX transactions to Coinpanda?
While we strive every day to ensure the highest possible accuracy for importing transactions from BKEX 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 BKEX API
Updated CSV file format
BKEX 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 BKEX 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, BKEX does not provide complete and ready-to-file tax documents. This is because BKEX does not have knowledge of your transactions on other exchanges, platforms, or from your self-custody wallets.
How do I get BKEX tax documents?
The easiest way to get tax documents and reports is to connect your BKEX account with Coinpanda which will automatically import your transactions. After that, you can download complete tax reports for BKEX.
Does BKEX provide financial or end-of-year statements?
No, BKEX 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 BKEX?
Yes, all transactions on BKEX 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 BKEX taxable?
No, transferring cryptocurrency to BKEX is not taxed as long as you transfer between your personal wallets or exchange accounts.
How do I avoid paying taxes on BKEX?
It is impossible to avoid paying taxes completely on BKEX 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 BKEX calculate my taxes?
BKEX 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 BKEX your entire life, it could technically do so.
Is BKEX safe?
BKEX is generally considered to be a safe exchange. Although BKEX 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 BKEX.
