Coinpanda integrates directly with WOO Network to simplify your tax reporting. Learn how to calculate your taxes and generate all required tax documents for WOO Network quickly.
If you have been trading, staking, or earning crypto on WOO Network, you must also calculate your taxes for all transactions. Coinpanda makes calculating crypto tax for WOO Network quick and easy by following these steps:
Create a free account and connect WOO Network to Coinpanda safely and securely
Next, Coinpanda will import all your trades, deposits, withdrawals, and rewards from WOO Network
Wait for Coinpanda to automatically calculate capital gains and income for your WOO Network transactions
Download your WOO Network tax report
File your WOO Network taxes before the deadline
Supported transactions
To calculate your taxes accurately, you must import all transactions from WOO Network to Coinpanda. Coinpanda supports the following transactions from WOO Network today:
Tx Type
API import
CSV file upload
Deposits
Withdrawals
Trades
RECOMMENDED
How to connect WOO Network 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 WOO Network account to Coinpanda with API:
Hover over your username in the top-right and select ‘Subaccounts and API’
Click on ‘Create API’
Select the account (Default: Main)
Enter a name in the Description box (ex: Coinpanda)
Enter your 2FA code and click ‘Create API’
Copy the API key and Secret key to Coinpanda
WOO Network provides only trade history for the past three months through their API. If you have older trades, you will need to contact WOO Network support to get your complete transaction history sent as a CSV file to your email address.
How to connect WOO Network with CSV
Follow these steps to export your transactions from WOO Network:
Hover over the user icon and select ‘Orders’
Click the ‘Download History’ button
Select a date range
Select ‘All instruments’ and ‘All sides’
Click on ‘Generate’
Upload the CSV file(s) to Coinpanda
How are WOO Network transactions taxed?
The exact tax implications on WOO Network 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 WOO Network.
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 WOO Network, 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 WOO Network transactions are taxed in your country, we recommend reading our in-depth guides to cryptocurrency taxes.
How do I file my WOO Network taxes?
First, you must calculate capital gains and income from all taxable transactions on WOO Network. 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 WOO Network. 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 WOO Network 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 WOO Network taxes
Sign up free today to calculate your WOO Network taxes
How do I troubleshoot the imported WOO Network transactions to Coinpanda?
While we strive every day to ensure the highest possible accuracy for importing transactions from WOO Network 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 WOO Network API
Updated CSV file format
WOO Network 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 WOO Network 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, WOO Network does not provide complete and ready-to-file tax documents. This is because WOO Network does not have knowledge of your transactions on other exchanges, platforms, or from your self-custody wallets.
How do I get WOO Network tax documents?
The easiest way to get tax documents and reports is to connect your WOO Network account with Coinpanda which will automatically import your transactions. After that, you can download complete tax reports for WOO Network.
Does WOO Network provide financial or end-of-year statements?
No, WOO Network 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 WOO Network?
Yes, all transactions on WOO Network 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 WOO Network taxable?
No, transferring cryptocurrency to WOO Network is not taxed as long as you transfer between your personal wallets or exchange accounts.
How do I avoid paying taxes on WOO Network?
It is impossible to avoid paying taxes completely on WOO Network 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 WOO Network calculate my taxes?
WOO Network 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 WOO Network your entire life, it could technically do so.
Is WOO Network safe?
WOO Network is generally considered to be a safe exchange. Although WOO Network 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 WOO Network.
