Coinpanda integrates directly with BloFin to simplify your tax reporting. Learn how to calculate your taxes and generate all required tax documents for BloFin quickly.
If you have been trading, staking, or earning crypto on BloFin, you must also calculate your taxes for all transactions. Coinpanda makes calculating crypto tax for BloFin quick and easy by following these steps:
Create a free account and connect BloFin to Coinpanda safely and securely
Next, Coinpanda will import all your trades, deposits, withdrawals, and rewards from BloFin
Wait for Coinpanda to automatically calculate capital gains and income for your BloFin transactions
Download your BloFin tax report
File your BloFin taxes before the deadline
Supported transactions
To calculate your taxes accurately, you must import all transactions from BloFin to Coinpanda. Coinpanda supports the following transactions from BloFin today:
Tx Type
API import
CSV file upload
Deposits
Withdrawals
Trades
Futures/perps
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How to connect BloFin 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 BloFin account to Coinpanda with API:
Enter a name in the ‘API Key Name’ field (Ex: Coinpanda)
Enter a passphrase
Confirm creating the API keys
Copy the API keys, incl. your passphrase, to Coinpanda
BloFin requires KYC to create API keys.
BloFin API is currently in beta. Please contact us in the Live Chat if you have questions about this API integration. Note that beta integrations might not always sync properly.
How to connect BloFin with CSV
Follow these steps to export your transactions from BloFin:
Select a date range that covers your trading history
Click ‘Export’ and download the file when ready
Upload the CSV file to Coinpanda
Futures order history
Follow the same steps above, but select ‘Futures’ instead
Select a date range that covers your trading history
Click ‘Export’ and download the file when ready
Upload the CSV file to Coinpanda
BloFin does not allow you to export your deposit and withdrawal history. You can use the generic file as a workaround or contact BloFin support to request a complete account export.
How are BloFin transactions taxed?
The exact tax implications on BloFin 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 BloFin.
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 BloFin, 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 BloFin transactions are taxed in your country, we recommend reading our in-depth guides to cryptocurrency taxes.
How do I file my BloFin taxes?
First, you must calculate capital gains and income from all taxable transactions on BloFin. 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 BloFin. 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 BloFin 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 BloFin transactions to Coinpanda?
While we strive every day to ensure the highest possible accuracy for importing transactions from BloFin 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 BloFin API
Updated CSV file format
BloFin 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 BloFin 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, BloFin does not provide complete and ready-to-file tax documents. This is because BloFin does not have knowledge of your transactions on other exchanges, platforms, or from your self-custody wallets.
How do I get BloFin tax documents?
The easiest way to get tax documents and reports is to connect your BloFin account with Coinpanda which will automatically import your transactions. After that, you can download complete tax reports for BloFin.
Does BloFin provide financial or end-of-year statements?
No, BloFin 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 BloFin?
Yes, all transactions on BloFin 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 BloFin taxable?
No, transferring cryptocurrency to BloFin is not taxed as long as you transfer between your personal wallets or exchange accounts.
How do I avoid paying taxes on BloFin?
It is impossible to avoid paying taxes completely on BloFin 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 BloFin calculate my taxes?
BloFin 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 BloFin your entire life, it could technically do so.
Is BloFin safe?
BloFin is generally considered to be a safe exchange. Although BloFin 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 BloFin.
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