Have you been receiving, sending, or holding crypto on Crypto.com App? If yes, you may also need to calculate and report taxes for the transactions. Coinpanda can help you with calculating crypto tax for Crypto.com App by following these steps:
Create a free account and add your Crypto.com App addresses to Coinpanda safely and securely
Next, Coinpanda will import all your transactions from Crypto.com App
Wait for Coinpanda to calculate capital gains for your Crypto.com App transactions automatically
Download your Crypto.com App tax report
File your Crypto.com App taxes before the deadline
How to connect Crypto.com App with API
Crypto.com App does not support API connection at the moment. Please upload a CSV file with your transactions instead.
How to connect Crypto.com App with CSV
Follow these steps to export your transactions from Crypto.com App:
Log in to the app and go to ‘Accounts‘
Click the transaction history icon in the top-right corner
Click the export icon in the top right corner
Select ‘Crypto Wallet‘ in the first menu dropdown
Select a start and end date that includes your entire transaction history
Click ‘Export to CSV‘
Repeat the previous steps also for ‘Fiat Wallet‘
Upload both CSV files to Coinpanda
Some transactions will be included in both CSV files, but Coinpanda will not import duplicate transactions if the timestamp is identical. However, in some cases, the exported CSV files will have a slightly different timestamp which may result in duplicates imported. You can correct this by comparing both CSV files and adjusting the timestamp if necessary.
Crypto.com App does not return all transactions correctly, especially concerning fees. Dust conversions can only be imported as Send + Receive instead of a single Trade transaction. Please check your imported transactions carefully.
How are Crypto.com App transactions taxed?
The exact tax implications on Crypto.com App 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 using Crypto.com App.
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 using Crypto.com App, such as staking, interest, and airdrops, is typically seen as taxable income from a tax perspective and must be reported in your tax return.
To learn more about how Crypto.com App transactions are taxed in your country, we recommend reading our in-depth guides to cryptocurrency taxes.
How do I file my Crypto.com App taxes?
First, you must calculate capital gains and income from all taxable transactions from Crypto.com App. 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 using Crypto.com App. 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 Crypto.com App 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 Crypto.com App taxes
Sign up free today to calculate your Crypto.com App taxes
How do I troubleshoot the imported Crypto.com App transactions to Coinpanda?
While we strive every day to ensure the highest possible accuracy for importing transactions from Crypto.com App 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 Crypto.com App API
Updated CSV file format
Crypto.com App 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 any block explorer with the transactions imported into your Coinpanda account. See also our help article with an overview of known wallet API limitations.
The quickest way to get help from our dedicated support team is to send a message in the Live Chat.
No, Crypto.com App does not provide complete and ready-to-file tax documents. This is because Crypto.com App does not have knowledge of your transactions on other exchanges, platforms, or self-custody wallets.
How do I get Crypto.com App tax documents?
The easiest way to get tax documents and reports is to connect Crypto.com App with Coinpanda which will automatically import your transactions. After that, you can download complete tax reports for Crypto.com App.
Does Crypto.com App provide financial or end-of-year statements?
No, Crypto.com App 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 for using Crypto.com App?
Yes, all transactions using Crypto.com App involving the disposal of a crypto asset are in most cases taxable. You must also pay income tax on earned crypto such as staking, airdrops, or interest.
Is transferring to Crypto.com App taxable?
No, transferring cryptocurrency to Crypto.com App is not taxed as long as you transfer between your personal wallets or exchange accounts.
How do I avoid paying taxes on Crypto.com App?
It is impossible to avoid paying taxes completely for Crypto.com App 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.