Deribit is among the prominent crypto exchange platforms, known for allowing traders to perform derivatives trades for Bitcoin and Ethereum. It also supports perpetual swaps, futures, and options. The platform also has low latency, and deep liquidity, and supports Bitcoin deposits only.
How does Deribit tax reporting work?
Deribit traders looking to file their taxes can use Accointing to generate their tax reports since the exchange platform doesn’t offer any. Accointing lets Deribit investors track their investment portfolios through the zero-charge portfolio tracker. As a trader, you can also generate comprehensive tax reports matching your country’s required format.
To get started, link your Deribit account to Accointing and import your transaction history.
The following are different ways to do it:
- API – Let Accointing connect to your Deribit account automatically and auto-sync your transaction data.
- CSV - Export your Deribit transaction history and import it into Accointing.
- Accointing template – Fill out our simple template and upload your data into Accointing
Integrate with Accointing via the Deribit API
- Sign in to your Deribit account.
- In the top right corner, point to your account’s username and select ‘My Account’ then ‘API.’
- Click the ‘Add a new key’ hyperlink.
- Enable read-only for all options.
- Set the API name as Accointing.
- Click the ‘Add new API key’ button to generate the API key.
- Copy the API key and secret key.
- Sign in to your Accointing account.
- Select the ‘Add wallet’ option under the ‘Wallets’ menu.
- Enter Deribit in the search input and select it from the list.
- Select the recommended Automatic option and click Continue.
- Enter the wallet name as Deribit.
- Copy and paste the API key and secret key into their respective inputs.
- Choose ‘All’ under the ‘Import from’ dropdown.
- Click the Save button to start the integration.
API supported features:
- Profit and loss.
API unsupported features:
Integrate with Accointing via the Deribit CSV/XLSX file
Downloading CSV files from Deribit
If you don’t want to link your Deribit account with Accointing using the API, you can also do so by importing a CSV file containing your history of trades, withdrawals, and deposits. Here is a simple step to go about it.
- Sign in to your Deribit account.
- In the top right corner, hover over your account’s username and select ‘Transaction Log.’
- Above the list of transactions, click the ‘Download logs’ button.
- Ensure you’ve downloaded CSV files for Ethereum and Bitcoin by selecting the applicable filter in the left corner.
Importing CSV files into Accointing
- Log in to your Accointing account.
- Hover over the ‘Wallets’ menu and click on ‘Add wallet.’
- Search ‘Deribit’ in the search input then select it from the list.
- Choose the ‘File import’ option and click Continue.
- Enter ‘Deribit’ as the wallet name.
- Click the file chooser to browse the location of the CSV file downloaded and select it for upload.
- Select ‘All’ from the ‘Import from’ dropdown.
- Click the Save button to start the import process.
How to review and track your Deribit transactions in Accointing
- Once Accointing and Deribit are connected and transaction data synced, go to your dashboard for your portfolio summary view.
- Set the desired date range to start evaluating the transaction history, gains, and losses for your Deribit portfolio.
- Choose the different crypto assets to view and evaluate your buy and sell dates. You can also pick multiple assets at one go to compare the assets’ performance for the chosen dates.
- You’re all set to start monitoring your Deribit portfolio, distributions and spread. You can also find out where each asset is stored, whether in an exchange or a wallet.
Common issues with importing transactions from Deribit
Deribit API will only sync deposits, withdrawals, and profit and loss data. If you notice that your trades and swaps data isn’t available, just note that the API doesn’t support this. As such, the best option is to use the CSV import option.
While downloading the CSV file, Deribit provides the transaction data for Bitcoin and Ethereum separately. Users must therefore download two CSV files for each crypto asset. Also, for those with very active trading history data, it may take longer if you try to download the entire data all at once. Instead, download separate files for each month of the year you’re trying to file taxes for.