One of the largest global exchanges, Huobi exchange offers crypto investors more than 364 different cryptocurrencies and 57 local currencies, as well as margin trading, futures trading, and more. Koinly can help you do your Huobi taxes safely, quickly, and accurately.
Huobi no longer operates in the United States so it's unlikely the exchange is reporting to the IRS - although Huobi may be facing pressure from other tax offices globally to share customer data.
Trades older than 4 months cannot be imported with Huobi API. If you have trades older than this, use the CSV file method below instead.
You'll need to start by downloading a CSV file with your full trading history from Huobi before you can upload it to Koinly - here's how.
1. Huobi only lets you export 4 months worth of transaction data at a time. If you have more transaction data, you'll need to export these in four month time frames and upload each to Koinly.
2. The lack of export capability on Huobi is bearable for those who don't trade regularly. However, for investors with old Huobi accounts or investors with hundreds of transactions, manually adding all this information is tedious to say the least! Thankfully, there is a way to get around this.
3. On the same page you find your deposit and withdrawal transactions, there should be some text that reads, "If you want to view more data, click here to file an application."
4. This link will take you to a page where you can request that Huobi create a CSV file of your complete transaction data. All you need to do is fill out the form letting Huobi know why you want the data, what data you'd like included and what date range to include. You'll also need to verify your account with ID to make this request. Huobi state they respond to these data requests within 5 business days.
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No, Huobi doesn't provide specific Huobi tax documents or tax reports. But as one of the biggest crypto exchanges going, Huobi has teamed up with some awesome crypto tax apps so you can use your Huobi transaction history report to generate a tax report for Huobi. The easiest way to do this is using the Huobi tax report API.
The easiest way to get your Huobi tax documents is to connect to crypto tax software via API or by uploading a CSV file of your Huobi transaction history. Your crypto tax calculator will then calculate your Huobi taxes for you and generate your Huobi tax documents.
No. Huobi shut down operations in the US as of December 15, 2019.
You can use your Huobi transaction history as an account statement. It has your complete Huobi trading history and you can use it to generate a Huobi tax statement. Once you've got your Huobi account statement - calculate your crypto taxes yourself or upload your Huobi financial statement to a crypto tax app to fetch a Huobi tax statement in a snap.
Yes, if you’ve made any capital gains or income as a result of your crypto investment activities on Huobi, you'll need to report these to your tax office and pay taxes on them. Your country tax regulations will specify what are the income and gains thresholds for paying taxes. Check out our tax guide for your country.
Huobi has some KYC verification procedures in place for users who wish to withdraw over a certain limit. The majority of small traders do not need to complete KYC to use Huobi.
Huobi has not suffered any major hacks and is generally considered secure. Huobi has however announced it is impacted by the FTX bankruptcy and the CEO Justin Sun has faced several controversies. Your crypto is always safest in a non-custodial, cold wallet.
Yes - Huobi has provided Proof of Reserves via a snapshot from addresses on the 12th of November 2022. Huobi was also recently acquired by About Capital in October 2022, and as part of this acquisition, Huobi performed a Merkle Tree Proof of Reserves audit. For more information about what Proof of Reserves are and why it matters - check out our blog post.