News • 5 min read
Bitpanda and Blockpit have joined forces once again to offer all Bitpanda users free tax reports to make filing your taxes easier than ever before. And that’s not all: If you recently registered on Blockpit via Bitpanda, you can also get between €5 and €200 worth of BEST as part of our airdrop.
Doing your taxes can be a complicated process. It’s time-consuming and can leave you feeling frustrated and confused. Keeping track of what is considered a taxable event under which circumstances is difficult enough without the uncertainties of often-changing legal frameworks. If you trade and invest in cryptocurrencies like Bitcoin, Ethereum, Dogecoin or even one of the Bitpanda Crypto Indices, there can be an added layer of complexity.
We’ve teamed up with Blockpit to help ease some of the stress that often comes along with tax season. Read on below to learn more about taxable events, the best way to track your crypto transactions, how you can easily generate free, compliant tax reports with Blockpit - and how you can get free BEST!
When it comes to investing in crypto and taxes, an important thing to keep in mind is that the regulatory framework for cryptocurrencies varies from country to country. Generally speaking, 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 read the excellent tax guides on the Blockpit website.
Regardless of where you live, keeping track of all the crypto you have bought and sold is considered a best practice to make sure you have an accurate record of all your transactions. Things become difficult when you are a trader with tens, hundreds or even thousands of transactions. One option for tracking your crypto is to create a spreadsheet and manually input each sale or purchase. You can also download a .csv file of your trade history on your personal Bitpanda profile and then enter those numbers into the spreadsheet.
However, manually tracking all of your transactions can take up a lot of your time and leave room for error. This is why we partnered with Blockpit, a provider of an easy software solution that tracks and automatically calculates your tax liability and optimises your tax reporting, so that you can rest assured that your filing is correct.
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.
To get started with Blockpit via the Bitpanda App, go to the “History” section in your account settings and:
To get your investment tax report, sync your Bitpanda trading account with your Blockpit account via the API import function. When you’re ready to file your taxes, simply export your Blockpit tax report - and voilà!
Just in time for tax season, Blockpit and Bitpanda are offering you something special: If you sign up to Blockpit via Bitpanda, you can start creating free tax reports for unlimited Bitpanda transactions, even if you already registered during our previous Blockpit promotions. While Blockpit previously offered free tax reports up to just 25 transactions, you can now generate free tax reports that cover all your activity on Bitpanda. The best part? This deal doesn’t expire. Create free tax reports for the 2021 and 2022 tax years and beyond with Blockpit.
And that’s not all! Participate in the BEST Airdrop between 2nd and 23rd of May, 2022 to get between €5 and €200 in BEST. If you are new with Blockpit, your registration counts. If you already have a Blockpit account, all you need to do is to generate a tax report.
You can create your Blockpit account when you follow this link to get your free tax report and to participate in the BEST Airdrop.
Please note: As tax issues involving cryptocurrencies can be complex and every country has its own legislation, we still advise 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.
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.
Bitpanda’s Response to the War in UkraineRead more
Bitpanda GmbH ve grup şirketleri (Bitpanda) Türk Parasının Kıymetini’nin Korunması Hakkında 32 sayılı Karar’ın 2/b maddesine göre Türkiye’de yerleşik sayılan hiçbir kişiye yönelik olarak 6362 sayılı Sermaye Piyasası Kanunu başta olmak üzere Türkiye Cumhuriyeti Devleti mevzuatı hükümleri gereği Türkiye’de faaliyet izni gerektiren hiçbir sermaye piyasası faaliyetine dair hizmet sunmamaktadır. Şayet Bitpanda’nın yabancı sermaye piyasalarında vermiş olduğu hizmetlerden Türkiye’de yerleşik kişilerin faydalandığı tespit edilecek olursa tüm zararları kullanıcıya ait olmak üzere bu hizmetler ivedilikle sona erdirilecektir.
As the name would suggest, some cookies on our website are essential. They are necessary to remember your settings when using Bitpanda, (such as privacy or language settings), to protect the platform from attacks, or simply to stay logged in after you originally log in. You have the option to refuse, block or delete them, but this will significantly affect your experience using the website and not all our services will be available to you.
We use such cookies and similar technologies to collect information as users browse our website to help us better understand how it is used and then improve our services accordingly. It also helps us measure the overall performance of our website. We receive the date that this generates on an aggregated and anonymous basis. Blocking these cookies and tools does not affect the way our services work, but it does make it much harder for us to improve your experience.
These cookies are used to provide you with adverts relevant to Bitpanda. The tools for this are usually provided by third parties. With the help of these cookies and such third parties, we can ensure for example, that you don’t see the same ad more than once and that the advertisements are tailored to your interests. We can also use these technologies to measure the success of our marketing campaigns. Blocking these cookies and similar technologies does not generally affect the way our services work. Please note, however, that while you’ll still see advertisements about Bitpanda on websites, the adverts will no longer be personalised for you.