Coinpanda integrates directly with Bybit to simplify your tax reporting. Learn how to calculate your taxes and generate all required tax documents for Bybit quickly.
If you have been trading, staking, or earning crypto on Bybit, you must also calculate your taxes for all transactions. Coinpanda makes calculating crypto tax for Bybit quick and easy by following these steps:
Create a free account and connect Bybit to Coinpanda safely and securely
Next, Coinpanda will import all your trades, deposits, withdrawals, and rewards from Bybit
Wait for Coinpanda to automatically calculate capital gains and income for your Bybit transactions
Download your Bybit tax report
File your Bybit taxes before the deadline
Supported transactions
To calculate your taxes accurately, you must import all transactions from Bybit to Coinpanda. Coinpanda supports the following transactions from Bybit today:
Tx Type
API import
CSV file upload
Deposits and withdrawals
Spot trades*
Earn history
Airdrops/rewards/bonuses
Realized PnL (futures)
Funding costs (futures)
Trading fees (futures)
Classic and unified account
* Spot history is only available from the last 6 months from API
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How to connect Bybit 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 Bybit account to Coinpanda with API:
Keep the ‘API Transaction’ option selected, give your key a name (ex: Coinpanda), and select ‘No IP restriction’
Select all the options below for ‘Permission’ and click ‘Submit’
Enter the email verification code and 2FA code, then click ‘Confirm’
Copy the API Key and API Secret to Coinpanda
January 17th: A brand new Bybit integration has been released today. Because there are several limitations with the Bybit API, we highly recommend reading the new Bybit article to ensure maximum accuracy of your imported transactions.
The API keys created will automatically expire after 90 days. To avoid creating new API keys every three months, click “Edit” and “Submit” to reactivate the existing API keys. If you get an error after syncing, please check that the API keys are still active before contacting Coinpanda support.
Spot trades can only be imported from the last six months (183 days). If you are importing from API, you must also upload a CSV if you have older spot trades than this.
How to connect Bybit with CSV
Follow these steps to export your transactions from Bybit:
Please read the Bybit tax guide carefully before you import transactions from CSV files. Bybit lets you export many CSV files that should NOT be uploaded. Only the required files are supported today.
If you still have questions after reading the blog article linked above, you can message us in the live chat.
Select a custom date range up to six months, such as 2023-07-01 -> 2023-12-31
Click ‘Export Now’ and download the file when it’s ready
Repeat the previous steps to export files containing transactions from all years
Upload the CSV file(s) to Coinpanda
How are Bybit transactions taxed?
The exact tax implications on Bybit 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 Bybit.
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 Bybit, 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 Bybit transactions are taxed in your country, we recommend reading our in-depth guides to cryptocurrency taxes.
How do I file my Bybit taxes?
First, you must calculate capital gains and income from all taxable transactions on Bybit. 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 Bybit. 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 Bybit 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 Bybit transactions to Coinpanda?
While we strive every day to ensure the highest possible accuracy for importing transactions from Bybit 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 Bybit API
Updated CSV file format
Bybit 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 Bybit 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, Bybit does not provide complete and ready-to-file tax documents. This is because Bybit does not have knowledge of your transactions on other exchanges, platforms, or from your self-custody wallets.
How do I get Bybit tax documents?
The easiest way to get tax documents and reports is to connect your Bybit account with Coinpanda which will automatically import your transactions. After that, you can download complete tax reports for Bybit.
Does Bybit provide financial or end-of-year statements?
No, Bybit 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 Bybit?
Yes, all transactions on Bybit 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 Bybit taxable?
No, transferring cryptocurrency to Bybit is not taxed as long as you transfer between your personal wallets or exchange accounts.
How do I avoid paying taxes on Bybit?
It is impossible to avoid paying taxes completely on Bybit 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 Bybit calculate my taxes?
Bybit 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 Bybit your entire life, it could technically do so.
Is Bybit safe?
Bybit is generally considered to be a safe exchange. Although Bybit 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 Bybit.
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