Which exchanges does Crypto Tax support, and how is the history imported?

In brief

File or API key

Bit2C, Kraken, Coinbase

File only

Binance, Bybit, Bitget

API key only

Crypto.com Exchange, Gate.com

File types

CSV, and Excel for Bit2C

A period a file covers

The file is the record

Importing transactions

Free and unlimited

An unsupported exchange

Contact Crypto Tax on WhatsApp

What is supported on each exchange?

On Bit2C, Kraken and Coinbase you can upload the exchange’s export file or connect an API key. Binance, Bybit and Bitget are imported from their export files only. The files are CSV files, except for Bit2C, which exports a separate Excel file for each year.

Crypto.com Exchange and Gate.com have no official export format, so they are imported by connecting an API key only. On Gate.com the spot account is imported. The Crypto.com App, unlike Crypto.com Exchange, is not supported yet.

The history from every exchange is combined into one calculation, and a transfer of a coin from one exchange to another is recognized, so a coin bought on one exchange and sold on another is calculated from the original purchase.

What is the difference between a file and an API key?

The export file is the exchange’s complete record, and you import it once for each period. An API key imports the history when it is connected, then syncs once a day, so new trades come in without another export.

An API key is offered only on an exchange whose API returns the account’s whole history. Binance’s, Bybit’s and Bitget’s do not: Bybit and Bitget go back up to two years, and Binance’s and Bybit’s APIs leave out some activity. A key there would produce a report that looks complete and is not, so on those exchanges you upload the export file. The one exception is Crypto.com Exchange, which has no export file: its API goes back up to 180 days, and older activity there cannot be imported yet.

Within the period a file covers, the file is the record: the key imports only what falls outside it, and a file uploaded after the key is connected replaces, once you confirm, what the key imported for that period. That way no trade is counted twice.

Why is the whole history needed, not just the tax year?

According to the Tax Authority’s Q&A, the capital gain is the proceeds from selling the digital asset less its cost. So a sale in the tax year requires knowing when, and for how much, the coins sold were bought, even when that purchase was years earlier and on another exchange.

Income Tax Circular 05/2018 requires keeping documents that record the purchase, the sale and the holding period. The exchanges’ export files are that record, so it is worth keeping them after importing too.

After every API key sync, Crypto Tax compares the balances on the exchange with the imported history and shows any gap, so it is clear which period is missing. The comparison runs on every exchange except Coinbase and Crypto.com Exchange.

What if my exchange is not supported?

Transactions cannot be entered by hand or imported from a generic file format. For an exchange that is not supported, you can contact Crypto Tax on WhatsApp, and more exchanges are added regularly.

Importing itself costs nothing, so you can check that the whole history came in before a tax year report is used.

Sources

• Digital assets Q&A, Israel Tax Authority (opens in a new tab)
• Income Tax Circular 05/2018 - taxation of decentralized payment means, Israel Tax Authority (opens in a new tab)