Crypto Taxes in Switzerland: The Complete 2023 Guide
In this guide, we will discuss the principles of taxation of cryptocurrencies in Switzerland. We will explore how the Swiss Federal Tax Administration (FTA) treats topics such as DeFi, NFTs, and cryptocurrencies in general, as well as how they are handled from a tax perspective.
Last Updated: May 29, 2023
Crypto Taxes – FAQs
How are cryptocurrencies classified for tax purposes in Switzerland?
The FTA classifies all cryptocurrencies as assets. This is based on a report by the Federal Council in 2014, which explained the legal treatment, potential risks, and economic significance of cryptocurrencies. However, cryptocurrencies are a new digital type of asset that cannot be easily compared to traditional asset classes and cannot be treated equally for tax purposes.
Is trading cryptocurrencies tax-free in Switzerland?
Gains from trading cryptocurrencies in private assets are generally treated as tax-free capital gains in Switzerland. Accordingly, capital losses incurred from crypto trading are also not tax-deductible.
However, it is important to note that the assessment and classification of trading depend on whether it is private asset management or commercial trading. Commercial activity may be considered, according to the assessment of the competent tax authority, if certain criteria are not met. Therefore, trading cryptocurrencies in Switzerland can be subject to tax under certain circumstances.
Are you taxed for HODLing crypto in Switzerland?
Holding cryptocurrencies or digital assets in Switzerland is not directly taxable. However, it does have an impact on annual wealth tax. If the total value of assets exceeds the personal exemption for wealth tax on December 31st, a small tax amount is due each year on the value of the held cryptocurrencies. The holding period of cryptocurrencies does not matter, only the inventory on December 31st is relevant.
How do you report crypto taxes in Switzerland?
In general, you will receive your tax return from the cantonal tax administration and must also submit it there. In all cantons, it is possible to fill out the tax return electronically or directly online, with each canton having slightly different instructions and submission processes. More information can be found under "Crypto Tax Filing Guide 2023 - Switzerland".
If you would like to have your tax return filled out by a professional tax advisor, you are welcome to contact the tax experts at BDO Switzerland.
Why do I need crypto tax software in Switzerland?
Yes, it is possible to use crypto tax software in Switzerland to help with tax return preparation and submission. Software can help track crypto transactions, calculate gains and losses, and prepare tax returns accordingly. As a Swiss company and expert in tax matters related to cryptocurrencies, Accointing is an excellent choice for those who want to use crypto tax software in Switzerland, along with our local partner BDO.
Cryptocurrency Taxes – TLDR
Trading with cryptocurrencies (not subject to taxation)
Capital gains and losses from non-commercial trading are tax-free. Capital gains tax only applies when trading as a commercial trader or as a business.
Income with cryptocurrencies (subject to taxation)
Taxable income from cryptocurrencies can take many forms and designations, and the FTA (Federal Tax Administration) does not provide guidance for many of them. Income tax is levied on cryptocurrencies when it can be assumed that the cryptocurrencies were earned. All received crypto incomes are taxed based on the market value of the received coins/tokens. This is usually also the point at which the taxpayer gains control over the asset.
Cryptocurrencies as “wealth” (subject to taxation)
As an individual, an annual wealth tax is due, which is levied by the cantons and municipalities. This tax applies to all movable assets, such as bank deposits and securities, as well as immovable assets, including cryptocurrencies.
Principles of Wealth Tax Law
The value of your cryptocurrency holdings will be assessed based on the exchange rates published by the Swiss Federal Tax Administration (ESTV) as of December 31st, 2022. If an official exchange rate is not available, the value as of December 31st of the corresponding year will be determined based on the disclosed rates of a cryptocurrency platform (e.g. coinmarketcap.com).
The tax rate for wealth tax and the tax exemption threshold varies depending on the canton. Most cantons have a progressive tax rate for wealth between 0.3% and 1%, which means that individuals with higher wealth will pay a higher percentage of taxes. The tax exemption threshold for wealth tax is usually around 100,000 CHF per taxpayer. Further information on the wealth tax rates of the canton can be found here.
Principles of Income Tax Law
The principles for taxing various transactions and activities with cryptocurrencies can be summarized as follows. Where appropriate, regulations will be included for both individuals and businesses.
Gains and losses from trading cryptocurrencies in private assets generally qualify as capital gains from movable assets (assuming the underlying asset was sold and an alternative cryptocurrency was acquired as consideration). In principle, such transactions are treated as tax-free capital gains. Accordingly, capital losses from cryptocurrency trading in private assets are also not deductible for tax purposes.
Trading is then assessed and classified as either private asset management or commercial trading. A person who cumulatively meets the criteria of Circular 36 of professional securities dealers is not considered engaged in commercial activity. Once one of these criteria is no longer met, the competent tax authority may determine that commercial activity may exist.
The following criteria provide an initial indication (not an exhaustive list) of whether your activity as a trader is classified as commercial trading under Swiss tax law.
- Frequency: If the activity is carried out regularly and at short intervals, this is an indication of commercial trading.
- Duration: If the activity is carried out over a longer period of time, this is also an indication of commercial trading.
- Trading volume: If there is a high trading volume, this may indicate commercial trading.
- Profit-making intention: If the activity is carried out with the intention of making a profit, this is another indication of commercial trading.
- Organization: If the activity is carried out systematically and organized, this indicates commercial trading.
- Time expenditure: If a significant amount of time is spent on the activity, this may indicate commercial trading.
However, it should be noted that these criteria are not exhaustive and depend on the circumstances in each individual case, so a total assessment of all factors is necessary. Classification as commercial trading has tax consequences, as the profits earned must be taxed as income.
Mining Bitcoin or any other cryptocurrency results in taxable income, with the coins received valued at their fair market value at the time they were mined. The exact tax treatment depends on your location in Switzerland, as some cantons have thresholds at which mining is considered business income or income from self-employment, affecting tax and deduction treatment. When calculating the market value of the coins received, use the CHF value of the cryptocurrency at the time they were received.
Some cantons that set limits for mining are:
- Zug: In Zug, mining is considered a commercial enterprise if the annual income exceeds CHF 100,000.
- Basel-Stadt: In Basel-Stadt, mining is considered a self-employed activity if the annual income exceeds CHF 50,000.
- Schwyz: In Schwyz, mining is considered a commercial activity if the annual income exceeds CHF 50,000.
However, it is important to note that the exact regulations and thresholds for mining may vary in each canton and change over time. Therefore, it is advisable to contact the responsible tax authority of the respective canton to find out about the current regulations. Here you can find a complete list with links to the different cantons.
Staking rewards are treated similarly to mining rewards and are subject to taxation at the time of receipt. However, taxation depends on various factors, such as the taxpayer's place of residence, the type and extent of staking activities, and the classification as a private investor or as self-employed trader. Here you can find a complete list with links to the different cantons.
Crypto lending is usually carried out through various DeFi protocols that connect lenders and borrowers. These platforms allow lenders to deposit their cryptocurrencies into a pool from which borrowers can borrow the desired amount. The borrower repays the loan with interest over a certain period of time, and once the loan is fully repaid, the collateral is returned to the borrower. Interest income from lending cryptocurrencies is considered taxable income and is subject to income tax based on the current market value of the cryptocurrency at the time of receipt. If you earn interest income from lending cryptocurrencies, you must report it in your tax return and pay taxes on the income earned.
According to the Swiss Federal Tax Administration (ESTV), cryptocurrencies received via airdrops are subject to income tax and are to be considered taxable capital gains. The market value of the cryptocurrencies at the time of receipt or disposal is decisive for the valuation of an airdrop. If no value is available at the time of receipt, a value of zero may be assumed.
There are no direct guidelines from the ESTV regarding hard forks. However, given that airdrops are subject to income tax, it is very likely that hard forks are also subject to income tax. This is based on the market value of the new cryptocurrency at the time of receipt, thus, the value of the new tokens at the time of the hard fork is determined.
Salary payments in cryptocurrencies
An employee who has received bitcoins or other cryptocurrencies as wages and/or benefits should declare this as taxable income. The value of the received cryptocurrencies in Swiss francs at the time of receipt of the salary paid by the employee should be recorded on the salary statement.
Individuals who receive cryptocurrencies as part of self-employment can declare them as main or additional income. The value of the cryptocurrencies in Swiss francs at their receipt should also be recorded, just like the value of regular salaries.
In Switzerland, fees for the administration of cryptocurrencies can be deducted as administration costs for tax purposes. In some cantons, there is a flat rate for administration costs that can be deducted automatically without requiring receipts or proof. However, if the actual administration costs are higher than the flat rate, the actual costs can be deducted, provided they can be substantiated.
It is important to keep receipts and proof for all costs related to the administration of your cryptocurrencies to ensure that you can deduct the correct amounts. The exact rules and maximum amounts for the deduction of administration costs may differ from canton to canton, so it is important to check the specific regulations of the respective canton.
Income Tax Rate
Income taxes are levied at three different levels:
- Federal level
While the tax rates at the federal level are the same throughout Switzerland, each canton has its own tax laws and tax rates. Municipalities generally adhere to the tax legislation of the canton in which they are governed, but they have the right to set their own municipal tax rate within certain parameters. Therefore, the income tax rate on your cryptocurrency can vary significantly depending on where you live and how much you earn.
The tax rates at the federal level are progressive, meaning the more you earn, the higher the tax rate. Most cantons have also introduced a progressive tax system, but some have recently introduced lump-sum taxation.
The following are the income tax rates at the federal level for the year 2023:
Purchasing Cryptocurrencies with Fiat (i.e CHF, EUR, USD)
Purchasing crypto (or any other digital asset similar to cryptocurrencies, such as NFTs) with fiat is not a taxable event. This is true whether the crypto is purchased through a bank account or a credit card transaction. However, considering that you will have to pay taxes when you sell or "dispose" of your crypto, it is crucial to keep an accurate record of the purchase to determine the cost basis of the transaction. Fortunately, Accointing.com will automatically keep track of all this information.
The cost basis of acquired crypto = amount paid for crypto in CHF + fees for the acquisition
Purchasing Cryptocurrencies with Crypto
As long as you are considered a private investor by the FTA, purchasing crypto (or any other digital asset similar to cryptocurrencies, such as NFTs) with crypto or another digital asset is not a taxable event.
If, on the other hand, you are considered a self-employed trader, capital gains tax is applied:
Taxable gain or loss = proceeds from the sale (fair market value of acquired crypto) - cost basis of crypto given up.
Proceeds from the sale (fair market value of acquired crypto) = cost basis of acquired crypto (relevant for future dispositions)
The acquisition of the new crypto (coin, token, NFT, etc) is not itself taxable, but using another asset to purchase this is the taxable event. This is basically a barter transaction. Using crypto to purchase another crypto is the same as if you sold the first crypto at its fair market value and immediately used those funds to purchase the new asset. The first transaction would be a taxable disposition in which a gain or loss has to be recognized, and the second transaction would be an acquisition for fiat. With crypto-to-crypto, you are essentially doing both of the above in one transaction. Therefore a gain or loss has to be reported on the asset given up.
Transfers between two Wallets
Transferring cryptocurrencies to your own wallet, whether it is a hot or cold wallet, is not a taxable transaction. Be careful - without precise classification as an internal transaction, some tax reports assume that transfers are taxable and assume a sale. At Accointing, we have decided not to make assumptions about what is internal for a user. We find possible matches for internal transfers and have them verified by the user in one of our review steps. All you need to do is confirm the proposed transactions as internal transfers, and they will be recorded as internal transfers.
Each canton has different rules and tax rates for giving away crypto assets - ranging from 2% to 36%, depending on the amount and type of assets given away. Some cantons have special provisions for gifts exempt from taxation or can be taxed at a reduced rate. For example, in some cantons, there is a tax exemption for gifts between spouses, parents, and children, or grandparents and grandchildren. In other cantons, there is a threshold for gifts below which no taxes are due.
The ESTV has not provided specific guidance on the tax deductibility of crypto donations. In Switzerland, cryptocurrencies can be used as donations to qualified charities based in Switzerland. The tax implications of cryptocurrency donations depend on various factors, such as the tax rate, the type of organization receiving the donation, and the amount of the donation. The market value of the cryptocurrencies at the time of the donation is crucial, so the current market value of the donation at the time of the donation must be determined.
Scams, Theft, and Losses
If one becomes a victim of cryptocurrency fraud (scams) or if cryptocurrencies are stolen, this can have implications for the tax situation. The Swiss Federal Tax Administration (ESTV) has not issued specific guidelines regarding lost or stolen cryptocurrencies. However, as a private investor, one does not have to pay taxes on capital gains and losses. Therefore, the loss of coins would only be relevant for the valuation of the crypto portfolio for the determination of wealth tax. The lost coins, with corresponding proof, no longer count as part of the crypto portfolio and can be written off under the given circumstances. For complex issues, it is recommended to consult a tax expert in Switzerland to clarify specific questions regarding one's personal situation.
Holding cryptocurrencies or digital assets is not directly taxable. However, HODLing has an impact on the annual wealth tax. This means that if the total value of assets, including cryptocurrencies, exceeds the personal exemption limit for wealth tax as of December 31st, one pays a certain amount of tax every year on the value of the held cryptocurrencies. The holding period of the cryptocurrencies is not relevant; only the inventory as of December 31st is decisive.
Crypto Trading: Futures vs. Margin Trading
In Switzerland, profits from futures and margin trading with cryptocurrencies are treated as taxable investment income. If one makes profits with futures or margin trading, this is subject to tax. However, if one has more losses than gains from futures or margin trading at the end of the tax year, the loss from margin trading cannot be claimed in one's tax return.
Just like the acquisition of cryptocurrencies, the disposal of cryptocurrencies in Switzerland is completely tax-free as long as the ESTV considers you a private investor.
However, if you are considered a professional trader or a business, the sale or exchange of cryptocurrencies is a taxable disposal, and you must pay capital gains tax. Taxpayers must report the realized gain or loss from such transactions in their annual tax return.
What is considered a taxable disposal of cryptocurrencies for Swiss professional traders or businesses?
- Selling a cryptocurrency for fiat (CHF, USD, Euro, GBP, etc.)
- Selling a cryptocurrency for a stablecoin (USDT, USDC, DAI)
- Exchanging one cryptocurrency for another
- Exchanging a stablecoin for another stablecoin
- Buying an NFT with cryptocurrencies
- Purchasing goods or services with cryptocurrencies
In any case, when making a taxable disposal of a crypto asset, you must calculate and report your gain or loss:
Taxable gain or loss = Proceeds from sale - Cost basis
Proceeds from sale: The amount of fiat you received for the sold crypto asset or its market value or the crypto asset received in the transaction.
Cost basis: The cost of the disposed of cryptocurrency - the cost in fiat or cryptocurrency or the market value at the time of acquisition if it was exchanged for another cryptocurrency.
Every time you trade, sell, or dispose of cryptocurrencies as a professional trader, it is a taxable disposal. Even exchanging one cryptocurrency for another or trading with stablecoins is considered a taxable disposal.
DeFi - Taxation
DeFi refers to the ecosystem of blockchains, coins, tokens, and decentralized apps (dApps) that offer peer-to-peer services to their users through smart contracts. So far, the Swiss Federal Tax Administration (SFTA) has not issued any formal guidelines. The best method to ensure compliance with regulations is to review your specific transactions and determine whether they constitute a sale of your token or a change of ownership and/or income flow. There is no difference between the taxation of DeFi transactions and CeFi transactions (centralized finance - anything that runs through an exchange or broker). Receiving income from a platform will certainly lead to income tax, while for those considered professional traders or businesses, the sale of a crypto asset will almost certainly result in capital gains tax.
Income tax or taxable asset income:
- Earning interest from DeFi Lending protocols
- Staking on DeFi protocols
- Yield farming DeFi protocols
- Earning liquidity tokens from DeFi protocols: (depends on whether you are earning new coins or increasing the value of an asset)
- Earning through play/engaging in to-earn DeFi protocols
Capital Gains Tax (applies only to self-employed traders or businesses)
- Selling or swapping NFTs.
- Profits from DeFi margin trading and options protocols
- Rewards from liquidity pools
Non-fungible Tokens (NFTs)
As with DeFi taxes, the FTA has not issued clear guidelines for NFTs and their taxation. However, we can assume that NFT taxation by the FTA will work the same way as the taxation of other cryptocurrencies for the time being. Since NFTs are simply another type of token running on a blockchain, it makes sense to apply the same principles as the taxation of other cryptocurrencies.
NFTs are taxed as private investors with a wealth tax, and only professional traders or businesses must declare profits or losses from the sale of NFTs. Each NFT is considered a unique asset for tax purposes.
The purchase of an NFT is a non-taxable transaction, as you are acquiring an asset. If you are a professional trader or business and purchase the NFT with a cryptocurrency such as ETH or SOL (as is common with OpenSea and Magic Eden), you likely have a taxable gain or loss from the sale of the cryptocurrency used to purchase the NFT - this works the same way as exchanging one cryptocurrency value for another.
The cost basis of the NFT = the amount paid for the NFT in CHF (regardless of whether fiat or the CHF equivalent of cryptocurrency was used to purchase the NFT) + acquisition fees
Taxable gain or loss = sales proceeds - cost basis
Sales proceeds = the amount of fiat or cryptocurrency (in CHF) received for the sold NFT
Cost basis = cost of the sold NFT
Tax Planning and Tax Compliance
For professional traders and businesses, it is important to proactively plan crypto taxes in order to achieve a lower tax burden. Whether one wants to proactively reduce the tax burden for the current year or simply plan ahead, it is important to be aware of the tax implications and ensure that appropriate reserves are held for the payment of taxes when due.
As a private investor, it is advisable to review one's portfolio carefully before the end of the year and check the market values of individual cryptocurrencies. Adjustments may need to be made if the displayed market value does not correspond to the current market value. If in doubt, cryptocurrency or NFTs without a clear market value can be sold before December 31 to realize gains or losses tax-free.
Contrary to popular belief, cryptocurrency transactions are rarely private and anonymous. Anyone with a blockchain explorer like blockchain.com can see all of your transactions. Even wallets without KYC must eventually perform transactions with KYC-verified accounts, which establishes the connection to the taxpayer's identity. Tools like AnChain, Chainalysis, Coinfirm, and Crystal can provide forensic data to track almost any transaction on the blockchain.
Cryptocurrencies are not private, and cryptocurrency income is taxable as ordinary income, just as profits from trading cryptocurrencies are taxable and subject to capital gains tax for professional traders and businesses. The Swiss Federal Tax Administration (ESTV) collects data, and it is always better to err on the side of caution. Remember that intentional tax evasion is a criminal offense.
If you are considered a self-employed trader or business, you are free to choose which of the following methods to apply:
- FIFO (first-in-first-out)
- LIFO (last-in-first-out)
- HIFO (highest-cost-in-first-out)
During 2019 and 2020, Max made the following purchases of Bitcoin.
- 1 for CHF 6,000 – May 2019
- 1 for CHF 5,500 – June 2019
- 1 for CHF 9,800 – August 2019
- 1 for CHF 12,500 – January 2020
- 1 for CHF 6,000 – March 2020
- 1 for CHF 12,000 – August 2020
- 1 for CHF 9,000 – September 2020
He sells 3 BTC in 2022, each for CHF 25,000 for CHF 75,000. His gains, with each method, would be calculated as:
He is assumed to have sold his first acquired Bitcoin first. Therefore May 2019, June 2019, and August 2019 Bitcoin are deemed sold.
- Taxable Gains total CHF 53,700
- CHF 25,000 – CHF 6,000 = CHF 19,000
- CHF 25,000 – CHF 5,500 = CHF 19,500
- CHF 25,000 – CHF 9,800 = CHF 15,200
He is assumed to have sold his most recently acquired Bitcoin first. Therefore September 2020, August 2020, and March 2020 Bitcoin are deemed sold.
- Taxable Gains total CHF 48,000
- CHF 25,000 – CHF 9,000 = CHF 16,000
- CHF 25,000 – CHF 12,000 = CHF 13,000
- CHF 25,000 – CHF 6,000 = CHF 19,000
He is assumed to have sold his highest-cost Bitcoin first. Therefore January 2020, August 2020, and August 2019 Bitcoins are deemed sold.
- Taxable Gains total CHF 40,700
- CHF 25,000 – CHF 12,500 = CHF 12,500
- CHF 25,000 – CHF 12,000 = CHF 13,000
- CHF 25,000 – CHF 9,800 = CHF 15,200
The Swiss tax year corresponds to the calendar year, which means that the annual tax calculation includes the period from January 1st at 12:00 a.m. to December 31st at 11:59 p.m. Generally, you must submit your taxes for the tax year by March 31st of the following year, but this may vary depending on the canton.
Most cantons grant you a free extension of the deadline if you are unable to submit the application on time.
The FTA requires that detailed records of crypto transactions must be kept for at least 5 years. We recommend keeping the following records indefinitely:
- Hot or cold crypto wallet addresses containing the taxpayer's crypto transactions.
- Other records, such as transaction history data from exchanges (and wallets).
- Account statements or other records showing deposits and withdrawals of fiat currency.
- Transaction history with all of the following information:
Fortunately, this information is automatically saved in your portfolio through your import data from Accointing. You should keep a copy of your tax report, all other provided files (e.g., the complete dataset), and a copy of all CSV or Excel files that you uploaded to Accointing.com. If you used API and blockchain connections, keep the blockchain address and API keys. If you are ever audited, you must be able to restore the results.
Filing Crypto Taxes
When submitting a tax return in Switzerland as an individual or on behalf of an individual, there are two options: online or via paper forms. Regardless of the method, the Accointing tax report contains all the information required for your tax return. More information can be found under "Crypto Tax Filing Guide 2023 - Switzerland".
Accointing by Glassnode
Connecting to Accointing by Glassnode
To create an accurate tax report, you must connect all your wallets and exchanges, including cold wallets, to Accointing. Your crypto taxes depend on all your transactions, so without connecting to your wallets, we cannot identify non-taxable transfers, and you will not be able to track the tax basis of your crypto. To connect your wallets, go to the Wallet tab in the web app dashboard, and you will see an "Add" button. From here, you can upload data from your exchanges, external wallets, or even complete data sets.
By connecting wallets, exchanges, or services through the API key, future transactions can also be integrated into the Accointing platform. This prevents you from going back and forth to connect wallets and ensures that the data you see on the platform is up-to-date and current.
After importing all wallets and exchanges, we will provide a step-by-step guide. Here, Accointing will show all missing data and ensure that the portfolio accurately reflects reality, so that you can create an accurate tax report.
- Unknown Currencies: New cryptocurrencies are constantly being introduced to the market, but many of them are not tradable or legitimate projects. Therefore, it may be necessary to manually identify certain coins and assign them to the correct currency. This step allows you to identify such coins and assign the correct currency.
- Identifying Internals: Internal transactions that occur between two of your own wallets are not subject to taxation. We automatically identify these transactions through the transaction hash on the blockchain and will ask for your confirmation before proceeding. This type of transaction is classified as internal and has no tax relevance.
- Classify Transfers: It is important to correctly categorize your transactions in order to obtain an accurate tax report. We can usually determine the type of deposit or withdrawal (such as mining, staking, swap, payment, liquidity pool income, etc.) based on the available data. However, if the information is incomplete, we will not make assumptions and instead require manual classification by the user. Some classifications may have different tax consequences depending on the country in which you file your taxes. For country-specific guidance on which classifications trigger a taxable event, click here.
- Missing Funds: This step shows all incomplete data in your trade history. There are two functions involved. The first section compares our computer balances with live balances. If there is a discrepancy, we will ask the taxpayer to verify it. Otherwise, users can vote on this transaction based on the missing value. The second function relates to individual trades or coin withdrawals. If information about the purchase is missing, we will ask the taxpayer to verify it. "Fix for me" balances it by creating a deposit with the missing amount.
Downloading Your Report
Everything will be set once you have completed the review steps, and you’ll be ready to download your tax report. You can always go back and correct any potential errors in your report if you're unhappy or find that something is wrong. If you have paid to generate a tax report for that financial year, you can amend the data and redownload it as many times as necessary to ensure it is 100% accurate.
How Does Accointing Simplify my Crypto Taxes?
If, like many crypto investors, you use multiple exchanges and wallets to buy and sell cryptocurrencies; your tax position will depend on each wallet and exchange you use. Therefore, in order to accurately calculate your taxes, you must keep records of every single transaction in all of your wallets and exchanges.
As you can imagine, manually capturing this data would be a logistical challenge. Even then, you would have to provide this data to your accountant so that they can determine any gains or losses.
Accointing can automate all of this, as everything is recorded on the blockchain. By connecting your wallets, our crypto tax calculator can create a complete tax report in accordance with FTA guidelines and provide a complete breakdown of all your transactions.
How Can Accointing Help Me Save Money On My Taxes?
To further the information above, the platform’s automation will save you from gathering your transactional data and paying someone else to make sense of it.
On top of this, the ‘overview’ page will give you a wealth of insight into your portfolio and its performance, all of which can be tracked at any time online or on the go using our mobile app.
You’ll also see a breakdown of each asset’s current profit and loss status and how well your portfolio has performed over time. All of these can be combined to maximize the return on your investments and legally minimize your tax liability.
When the time comes to figure out your tax liability, our 4-step review process will ensure that each transaction is classified correctly, avoiding any of your transactions being taxed unnecessarily. We will also identify and iron out any internal transactions (transfers between your own wallets) to ensure you are not getting taxed for moving your crypto off of exchanges.
Which Classifications are Taxable
For a breakdown and explanation of each transaction type, visit our main classifications guide. To see which specific classifications are taxable in Switzerland, refer to our Swiss classifications guide.