If you have been trading, staking, or earning crypto on Digital Surge, you must also calculate your taxes for all transactions. Coinpanda makes calculating crypto tax for Digital Surge quick and easy by following these steps:
Create a free account and connect Digital Surge to Coinpanda safely and securely
Next, Coinpanda will import all your trades, deposits, withdrawals, and rewards from Digital Surge
Wait for Coinpanda to automatically calculate capital gains and income for your Digital Surge transactions
Download your Digital Surge tax report
File your Digital Surge taxes before the deadline
To calculate your taxes accurately, you must import all transactions from Digital Surge to Coinpanda. Coinpanda supports the following transactions from Digital Surge today:
CSV file upload
How to connect Digital Surge 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 Digital Surge account to Coinpanda with API:
Click the menu icon in the top right and select ‘API Key’
Click ‘Create a new API key’
Select ‘Read Only’ and click ‘Next’
Enter your 2FA code and click ‘Generate the API key’
Copy the API key to Coinpanda
How to connect Digital Surge with CSV
Follow these steps to export your transactions from Digital Surge:
Click the menu icon in the top right and select ‘Transaction History’
Click the ‘Export history’ button in the top right and choose ‘Transaction History’
Select a date range and choose CSV or Excel format
Click ‘Export History’
Upload the CSV/XLSX file to Coinpanda
How are Digital Surge transactions taxed?
The exact tax implications on Digital Surge 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 Digital Surge.
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 Digital Surge, 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 Digital Surge transactions are taxed in your country, we recommend reading our in-depth guides to cryptocurrency taxes.
How do I file my Digital Surge taxes?
First, you must calculate capital gains and income from all taxable transactions on Digital Surge. 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 Digital Surge. 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 Digital Surge 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 Digital Surge taxes
Sign up free today to calculate your Digital Surge taxes
How do I troubleshoot the imported Digital Surge transactions to Coinpanda?
While we strive every day to ensure the highest possible accuracy for importing transactions from Digital Surge 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 Digital Surge API
Updated CSV file format
Digital Surge 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 Digital Surge 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, Digital Surge does not provide complete and ready-to-file tax documents. This is because Digital Surge does not have knowledge of your transactions on other exchanges, platforms, or from your self-custody wallets.
How do I get Digital Surge tax documents?
The easiest way to get tax documents and reports is to connect your Digital Surge account with Coinpanda which will automatically import your transactions. After that, you can download complete tax reports for Digital Surge.
Does Digital Surge provide financial or end-of-year statements?
No, Digital Surge 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 Digital Surge?
Yes, all transactions on Digital Surge 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 Digital Surge taxable?
No, transferring cryptocurrency to Digital Surge is not taxed as long as you transfer between your personal wallets or exchange accounts.
How do I avoid paying taxes on Digital Surge?
It is impossible to avoid paying taxes completely on Digital Surge 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 Digital Surge calculate my taxes?
Digital Surge 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 Digital Surge your entire life, it could technically do so.
Is Digital Surge safe?
Digital Surge is generally considered to be a safe exchange. Although Digital Surge 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 Digital Surge.