Bitpanda teams up with Blockpit to help you save money this tax season + win €1,000 in BEST!

In an uncertain market, where important regulations and legal frame-works can change very quickly, using Blockpit can help you understand how to save when doing your crypto taxes. Read on for invaluable advice and also find out how you can claim your Blockpit discount and enter our BEST raffle. 

Understanding crypto and taxes

It’s important to remember the regulatory framework for crypto and your tax responsibilities vary from country to country. Most countries consider buying and selling crypto, for example by selling your crypto for a fiat currency like EUR or USD, a taxable event, just like any other transaction involving a commodity. To know exactly what applies in your country and in your individual situation, we strongly recommend that you contact your personal tax advisor and you can take a look at detailed tax guides for Germany, France and more on the Blockpit website.

Don’t let your tax deadline sneak up on you

Understanding your tax deadlines is key to making sure you’re able to make any applicable tax savings and to balance your crypto losses. Depending on your country of residence, there are numerous deadlines including the submission of tax returns, the payment of taxes, and the disclosure of crypto transactions.

Calculating and offsetting your losses

It’s important to generate a tax report to accurately file your tax return and manage any potential losses. Blockpit can help you with: 

• Knowing your gains, losses and taxable income ahead of time
  
  
• Automatically benefiting from best-practice, legally compliant evaluation methods
  
  
• Tax optimization within the legal means

Register with Blockpit for discounted licences and our BEST raffle 

A licence from Blockpit will help you keep your books in order and save money on taxes. But if you need more encouragement we’ve got some amazing incentives, too. Sign up to Blockpit via your Bitpanda link between 9 May, 2023 at 00:00 CET and 23 May, 2023, at 23:59 CET to unlock

• Discounted Blockpit licences
  The Bitpanda community can benefit from a 25% discount on all paid licences.
  
  
• Enter our BEST raffle to win €1000
  Don’t miss your chance to be one of three lucky winners to receive €1,000 worth of BEST if you purchase a Blockpit licence between 9 May, 2023 at 00:00 CET and 23 May, 2023, at 23:59 CET. Terms and conditions apply.

Plus, BEST VIPs can benefit from even larger discounts. VIP Level 5 will get a 90% discount on licences, VIP Level 4 will get 75% discount, and VIP Level 3 can enjoy 50%. 

Blockpit is the easiest way to track your crypto and generate tax reports

With Blockpit, you can monitor your transactions and generate tax reports in just a few clicks. All you need to do is sign up to Blockpit via Bitpanda and then sync your trading account with your Blockpit account via the API import function. Blockpit imports your transaction data and automatically classifies it in accordance with the law, giving you a real-time overview of your tax liabilities. When you’re ready, you can generate a tax report that can be filed along with the rest of your tax documents.

How to purchase a Blockpit licence

Step 1: Create your Blockpit account following this link or by going into “My account” > “History”. To deal with your taxes:

• mobile app: click “Export” and then on “Sign up to Blockpit”

• web: click the button “Export” and then choose“ Tax report by Blockpit”.

Step 2: Register on the landing page and activate your Blockpit account via email. 

Step 3: Switch back to Bitpanda and select “API key”. Create an API key without an expiry date and select all checkboxes. Click on “Generate new API key”. 

Step 4: Confirm and copy the API key from your Bitpanda email.

Step 5: Switch back to Blockpit and click on “Add Depot” and choose “Bitpanda” from the list. Enter your copied API key and click on “Create”. Now all your Bitpanda transactions get displayed.

Step 6: Go to “Reports” and click “Calculate Report”. Purchase a licencse to download your tax report and the 25% discount will be applied at checkout. After purchasing a Blockpit licencse you are automatically eligible to win the raffle.  

Disclaimer

This article does not constitute investment advice, nor is it an offer or invitation to purchase any digital assets.

This article is for general purposes of information only and no representation or warranty, either expressed or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of this article or opinions contained herein.

Investing carries risks. Make sure to conduct your own research before making any investment.