BitMart was founded by former employees of top-tier tech firms who aimed to create a cost-efficient trading platform with low entry barriers. Users can trade up to 1500 crypto assets with significant leverage, which opens up numerous possibilities for investors and traders alike.
Being a popular, user-friendly platform, numerous users prefer BitMart as their preferred trading exchange. However, it does not offer tax reports for tax filing and reporting. This is where BitMart’s partnership with KoinX comes in. KoinX lets you seamlessly integrate your trades from BitMart and get a detailed tax report in a few easy steps.
Go through this comprehensive guide to learn how.
A step-by-step guide on How to Integrate BitMart with KoinX
Step 1: Log in to your Bitmart account.
Step 2: On the top right corner of the settings section, please click on the API management button.
Step 3: Make sure you’ve selected Read-only under Authority, and then click on the Add button to create your API and secret keys.
Step 4: Log in to your KoinX account.
Step 5: Please click on the Integrations section in the navigation bar.
Step 6: In the search bar, search for Bitmart and select the exchange.
Step 7: Paste your API and secret keys and click on the Import Now button.
How to Easily Calculate & File Your BitMart Taxes using KoinX
Step 1: Add all the chains and exchanges where you have an account
With KoinX, it is possible to integrate all your transactions on one platform as we offer support to all leading exchanges and wallets around the world.
Step 2: Review your transactions
Profits and losses on your trades are calculated and categorised according to the latest regulations on KoinX. Review your transactions and refer to this article if you see any warnings on your dashboard.
Step 3: Generate your tax reports for the selected financial year
KoinX prepares and presents your tax reports in an easy-to-read format with an option to categorise your trades as Capital gains or as Business Income.
If trading is your passive (secondary) investment, select the Capital Gains option, and if your trades are your active (primary) source of investment, select Business Income.
Step 4: File your taxes
File your crypto taxes after exporting the tax reports. You can take help from KoinX’s tax professionals or refer to any of our partnered tax calculating websites.
Frequently Asked Questions
Do I need BitMart reports for tax filing?
Yes, all your BitMart trades are subject to a flat 30% crypto tax as per Government of India’s regulations. Therefore you need a comprehensive BitMart report when you file your taxes.
How does BitMart integrate with KoinX?
You can effortlessly integrate your BitMart trading accounting and generate detailed tax reports for your portfolio. KoinX syncs your transactions and produces downloadable tax reports that can be used to file taxes or shared with tax professionals.
Does BitMart provide tax reports?
No, BitMart does not provide tax reporting on its website. You can upload your BitMart trades and generate your tax reports from a trusted website like KoinX.
How do I troubleshoot my BitMart and KoinX integration?
If you are still facing any issues after reading the article, our customer support team will always be there to assist you. You can reach out to us on Twitter or email at support@koinx.com.
More Integrations
Ethereum
USDT
XRP
MATIC
