BitMart is a global crypto exchange offering spot, margin and futures trading, as well as staking, NFTs and more. Whatever your BitMart investments, Koinly can help with your BitMart taxes.
As BitMart operates in the US, it’s likely the exchange has faced pressure from the IRS to share customer data in order to ensure tax compliance. The IRS is able to request KYC data from centralized crypto exchanges. The best way to remain tax compliant is to report your BitMart transactions accurately.
1. The BitMart API only returns transaction data for your last 200 trades.
2. If your account has more than 200 trades, use the CSV file method below instead.
You'll need to start by downloading a CSV file with your full trading history from BitMart before you can upload it to Koinly - here's how.
BitMart don’t offer a simple CSV export option within their platform - but you can request a CSV file of your BitMart transaction history by submitting a request. Please note, it may take up to 15 days for you to receive your CSV file from BitMart - so don’t leave it until the tax deadline is looming!
Once you've got your CSV file, here's how to upload it to Koinly.
When requesting your CSV file, check that the file covers your full trading history, for however long you’ve had your BitMart account.
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No. BitMart does not provide users with tax documents. The easiest way to get your BitMart tax documents is using crypto tax software like Koinly.
The simplest way to get your BitMart tax documents is to connect Koinly to BitMart automatically, or upload a CSV file of your BitMart transaction history. Koinly will then calculate your BitMart taxes and generate your BitMart tax report.
Although BitMart operates in the US, they have not been known to send 1099 forms to users or the IRS. Many of the earn products on BitMart are not available to US users.
No, BitMart doesn’t supply a financial or EOFY statement. But you can use the CSV file of your BitMart transaction history instead to calculate your crypto taxes.
Yes, if you have capital gains or income as a result of your crypto investment activities on BitMart, you'll need to report these to your tax office and pay taxes on them - or face steep tax evasion penalties.
Yes, you’ll need to complete KYC verification in order to use BitMart. Like many other exchanges - they have different levels of verification and these different verification levels have their own withdrawal limits.
Yes. BitMart has a reputation for being a safe and secure crypto exchange. However, in the wake of the collapse of large exchanges recently, the best practice is always to store your crypto in a cold, non-custodial wallet when you’re not actively trading.
BitMart is a global exchange that operates in 180 countries… in other words, it’s highly likely BitMart reports to other tax offices like HMRC, the ATO and the CRA. Your customer data may be requested by these tax offices in order to ensure tax compliance.