Coinpanda integrates directly with MEXC Global to simplify your tax reporting. Learn how to calculate your taxes and generate all required tax documents for MEXC Global quickly.
If you have been trading, staking, or earning crypto on MEXC Global, you must also calculate your taxes for all transactions. Coinpanda makes calculating crypto tax for MEXC Global quick and easy by following these steps:
Create a free account and connect MEXC Global to Coinpanda safely and securely
Next, Coinpanda will import all your trades, deposits, withdrawals, and rewards from MEXC Global
Wait for Coinpanda to automatically calculate capital gains and income for your MEXC Global transactions
Download your MEXC Global tax report
File your MEXC Global taxes before the deadline
Supported transactions
To calculate your taxes accurately, you must import all transactions from MEXC Global to Coinpanda. Coinpanda supports the following transactions from MEXC Global today:
Tx Type
API import
CSV file upload
Deposits
Withdrawals
Trades
Realized P&L (Futures)
Trading fees (Futures)
Funding payments (Futures)
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How to connect MEXC Global 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 MEXC Global account to Coinpanda with API:
Give Read permission for your Isolated margin account:
Account
Trade
Give Read permission for your Futures account:
Account
Trade
Enter a name in the ‘Notes’ field (ex: Coinpanda)
Leave the ‘Link IP Address’ field empty
Click ‘Create’
Enter the verification code sent to your email address and 2FA if required
Click ‘Confirm’ to create the keys
Copy the Access key and Secret key to Coinpanda.
Your API keys are only valid for 90 days. You must create new API keys to run the API sync again after this period.
Several limitations with the MEXC API make it impossible to import all historical transactions in most cases. Only the following transactions can be imported today:
• Trades from the past 30 days • Deposits and withdrawals from the past 90 days • Futures transactions from the past 90 days
Because of these limitations, the best option will likely be to upload CSV files instead of using API import. Please read the instructions below for exporting the required CSV files from MEXC Global.
How to connect MEXC Global with CSV
Follow these steps to export your transactions from MEXC Global:
Repeat the previous steps to cover all years if required
Click ‘Download’ when the file is ready
Repeat the same steps also for ‘Withdraw’ and ‘Other’
Upload the CSV files to Coinpanda
How are MEXC Global transactions taxed?
The exact tax implications on MEXC Global 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 MEXC Global.
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 MEXC Global, 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 MEXC Global transactions are taxed in your country, we recommend reading our in-depth guides to cryptocurrency taxes.
How do I file my MEXC Global taxes?
First, you must calculate capital gains and income from all taxable transactions on MEXC Global. 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 MEXC Global. 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 MEXC Global 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 MEXC Global taxes
Sign up free today to calculate your MEXC Global taxes
How do I troubleshoot the imported MEXC Global transactions to Coinpanda?
While we strive every day to ensure the highest possible accuracy for importing transactions from MEXC Global 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 MEXC Global API
Updated CSV file format
MEXC Global 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 MEXC Global 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, MEXC Global does not provide complete and ready-to-file tax documents. This is because MEXC Global does not have knowledge of your transactions on other exchanges, platforms, or from your self-custody wallets.
How do I get MEXC Global tax documents?
The easiest way to get tax documents and reports is to connect your MEXC Global account with Coinpanda which will automatically import your transactions. After that, you can download complete tax reports for MEXC Global.
Does MEXC Global provide financial or end-of-year statements?
No, MEXC Global 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 MEXC Global?
Yes, all transactions on MEXC Global 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 MEXC Global taxable?
No, transferring cryptocurrency to MEXC Global is not taxed as long as you transfer between your personal wallets or exchange accounts.
How do I avoid paying taxes on MEXC Global?
It is impossible to avoid paying taxes completely on MEXC Global 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 MEXC Global calculate my taxes?
MEXC Global 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 MEXC Global your entire life, it could technically do so.
Is MEXC Global safe?
MEXC Global is generally considered to be a safe exchange. Although MEXC Global 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 MEXC Global.
