Do you have to pay crypto taxes this year? Find out with Blockpit!

Keeping track of your crypto transactions

Filing your crypto tax returns can be a challenging and time-consuming task. This is why we’ve teamed up with Blockpit again to make the process easier, just in time for the end of year. Blockpit was founded in 2017 and is based in Linz, Austria. They set out to make filing your taxes for your crypto transactions a lot easier.

If you’re a crypto investor, you need to consider that transactions with cryptocurrencies are taxable events. Such events include selling your crypto for various fiat currencies, such as EUR, USD, paying for a purchase in crypto, using your assets for transactions with your Bitpanda Card and more. 

Your personal tax situation

However, your tax situation depends on the gains you made, as well as on the holding period (how long you have been holding your crypto) and other factors. You should only be paying taxes on gains. Losses can offset gains.

Ready to save yourself quite some time handling your crypto taxes? The Blockpit Cryptotax tool takes care of the hassle of calculating holding periods across numerous assets and various depots for you, so you have more time doing what you do best: investing and enjoying life!

Blockpit helps you calculate your crypto taxes

Users of Blockpit can use Bitpanda API connections which import Bitpanda transactions into Blockpit automatically. Blockpit covers all assets and transactions taking place on Bitpanda applying to the following jurisdictions with a country-specific tax framework: Austria, France, Germany, Spain and Switzerland. Blockpit shows you exactly which of your assets fall under “tax-favourable status”. And as always, we advise you to consult your trusted tax advisor to assess your individual situation. 

Get your Blockpit licence

If you create a Blockpit account via Bitpanda, you’ll get a 25% discount on all licences for all tax years, including 2021 and the pre-purchase of the 2022 tax year. But there is more - all new Blockpit users, who sign up through Bitpanda between November 24 and December 17 2021 will get between €5 and €200 in BEST! 

You’ve already opened up a Blockpit account via Bitpanda, perhaps during our promotion in May? Don’t worry, this discount applies to you too, regardless of all previous purchases.

Who is eligible to participate in the BEST airdrop? 

To be eligible for the BEST airdrop, you have to meet the following conditions:

• You must be a verified user on the Bitpanda Broker;

• You must have traded on the Bitpanda Broker at least once in 2021;

• You must reside in either Austria, France, Germany, Spain or Switzerland;

• You must have signed up on Blockpit for an account for the first time through Bitpanda’s “History” section between the 24th of November and the 17th of December 2021;

• You must agree to the terms and conditions of the giveaway.

...and only the best for our BEST

Finally, all Bitpanda BEST VIP Level 3 will receive a professional Blockpit licence for free, even if you have already received one during previous promotions. If you are not a Level 3 user yet, you have time until December 17 2021 (23:59 UTC+1) to become one and be eligible. 

And no, we’re still not done: 10 professional Blockpit licences will go to randomly-selected winners who haven’t previously received a licence. All licences will be distributed two weeks after the end of the promotion period. 

Create an account on Blockpit

Create your Blockpit account following this link on Bitpanda, or by going into the “History” section on your Bitpanda verified account. Happy trading!

Please note: This promotion is open to users of Bitpanda but not Bitpanda Pro. As tax issues involving cryptocurrencies can be complex and every country has its own legislation and Bitpanda is not giving you any tax advice, we still suggest you to contact your personal tax adviser for further information about your individual situation. You can find the terms and conditions of the BEST airdrop powered by Blockpit here.