Bitfinex is a well-established digital asset and cryptocurrency exchange platform with enormous support for cryptocurrency products. Common trading options on this platform include margin accounts, spot trading, paper trading, and derivatives. Bitfinex suits both veteran and novice traders.
How does Bitfinex tax reporting work?
If you’re looking for a Bitfinex tax report, then you’re in the right place. There’s no way to get such a tax report directly from Bitfinex. However, you can use Accointing’s Bitfinex calculator and Bitfinex portfolio tracker to analyze your transaction history, calculate your Bitfinex taxes and generate a tax report in the format specific to your country’s requirements.
First, you need to connect your account and import your Bitfinex transaction and trade history into Accointing; there are several ways to do it:
- CSV - export of transaction history from Bitfinex and import into Accointing
- Accointing template - download our template, fill, and upload your data
Integrate with Accointing via the Bitfinex API
Bitfinex offers a simple API with which other crypto platforms can integrate with. However, Accointing is still in the process of implementing the support for Bitfinex API. In the meantime, you can connect your Bitfinex account with Accointing by manually importing a CSV file with transaction history.
Integrate with Accointing via the Bitfinex CSV file
Accointing offers a simple way to integrate with Bitfinex via a CSV file. Follow the procedure below to download your transaction history data and import it into Accointing.
Downloading CSV files from Bitfinex
- Login to your Bitfinex account.
- On the top right corner, hover over to the Account icon and select Reports from the menu list.
- Next, go to Trading, the Trades, and click the Export button at the top. Specify the time frame.
- In the export window popup, confirm that the date format is DDMMYY and click the Export button to download your trades history CSV file.
- Follow the same procedure to download your deposits and withdrawals. Select Movements from the left-hand side menu. Then select the start and date for which you want the data.
- The files will be sent to your account email.
Importing CSV files into Accointing
- Login to Accointing and select the “Add wallet” option from the “Wallet” menu.
- Click the “Exchange” option, search for “Bitfinex” then click it from the search result.
- Click the file import option and then continue.
- Click the respective file import option for trades, deposits, and withdrawals, each time select the required CSV file.
- Under the “Import from” option, select all and set the desired start date.
- Click save to start importing the data.
How to review and track your Bitfinex transactions in Accointing
- After importing Bitfinex transactions, proceed to the Accointing dashboard to view your portfolio summary.
- Select the relevant start and end dates to analyze your Bitfinex performance history, profits, and losses.
- View and click the various cryptocurrency assets to analyze your buy and sell dates. You’ll also be able to pick more than one asset concurrently to make a performance comparison for selected dates.
- You can now keep track of your Bitfinex investments portfolio, distribution, and spread. Also, find out which assets are in what wallets or exchanges.
Common issues with importing transactions from Bitfinex
When doing a manual import via a CSV file, Bitfinex does not provide a single source for download. The deposits and withdrawals are downloaded separately from the Trades history.