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How to Report Your BTC Direct Taxes

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

CSV File Upload
Connect to BTC Direct

How to connect BTC Direct with API

BTC Direct does not support API connection at the moment. Please upload a CSV file with your transactions instead.

How to connect BTC Direct with CSV

Follow these steps to export your transactions from BTC Direct:

  1. Log in to your account on BTC Direct
  2. Look for a page or button on BTC Direct to export a CSV file containing your transaction data
  3. Remember to export files for all your transactions:
    • deposits
    • withdrawals
    • trade history
    • interest payments
    • staking rewards
  4. Upload the CSV file(s) to Coinpanda

How are BTC Direct transactions taxed?

The exact tax implications on BTC Direct 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 BTC Direct.

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

How do I file my BTC Direct taxes?

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

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How do I troubleshoot the imported BTC Direct transactions to Coinpanda?

While we strive every day to ensure the highest possible accuracy for importing transactions from BTC Direct 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 BTC Direct API
  • Updated CSV file format
  • BTC Direct 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 BTC Direct 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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Other options for contacting support:


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Frequently asked questions

Does BTC Direct provide tax documents?

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

How do I get BTC Direct tax documents?

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

Does BTC Direct provide financial or end-of-year statements?

No, BTC Direct 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 BTC Direct?

Yes, all transactions on BTC Direct 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 BTC Direct taxable?

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

How do I avoid paying taxes on BTC Direct?

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

BTC Direct 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 BTC Direct your entire life, it could technically do so.

Is BTC Direct safe?

BTC Direct is generally considered to be a safe exchange. Although BTC Direct 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 BTC Direct.

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