How to do your MoonPay taxes with Koinly
MoonPay is a financial technology company that allows users to easily buy cryptocurrency with fiat currency using everyday payment methods such as Apple Pay, PayPal, Venmo, bank transfers, and credit and debit cards.
If you're using MoonPay to buy or sell crypto, you likely have a tax bill. Koinly can calculate your MoonPay taxes.
How to integrate MoonPay with Koinly
MoonPay operates as a non-custodial service, allowing users to transfer the crypto they buy directly to a non-custodial wallet of their choosing.
Due to this set-up, there are a couple of ways to upload your MoonPay data to Koinly:
MoonPay App: This covers the non-custodial wallets that you've added.
MoonPay Rails: This covers your fiat purchases and sales.
If you're unsure which integration method to choose, here are a few examples:
Add MoonPay App if you used the MoonPay App as a non-custodial wallet but never bought crypto with fiat or sold crypto.
Add MoonPay Rails if you bought crypto with fiat on the MoonPay website but never installed the MoonPay app.
If you did both, then add both integrations.
We recommend adding the MoonPay Rails integration for more accurate calculations.
MoonPay App
Follow these steps to sync your MoonPay App data automatically to Koinly:
Connect all the blockchains you store assets on MoonPay App using their respective integration and your public key ("receive" address).
Fiat purchases
Your fiat purchases will import as deposits. For more accurate cost reporting of your on-ramps, add the "MoonPay Rails" integrations to Koinly as well.
On Koinly:
- Create a free account on Koinly
- Complete onboarding until you get to the Wallets page and find MoonPay App in the list
- Select API > Paste the public address/key you copied above in the appropriate box
- Hit Import and wait for Koinly to sync your data. This can take a few minutes
- Review your transactions on the Transactions page to ensure everything is tagged correctly and no missing data
- Go to the Tax Reports page to view your tax liability!
- Head over to our help center
- Hit up our discussion boards - we might have already answered your question
- Ask us on social media - we're on Twitter and Reddit
- Contact us on email or live chat
- Got a feature request? Give us feedback on Canny
MoonPay Rails
Follow these steps to download your MoonPay Rails data:
Use MoonPay Rails wallet for more accurate reporting of your fiat purchases (using a credit card or bank wire). You still need to import wallets where you actually hold your assets, e.g. using our MoonPay Wallet integration.
Files needed:
- Trade activity
How to download your trade activity CSV
Trade activity is only available via website, not the app
- Go to https://buy.moonpay.com/v2/buy
- Click the cog icon ⚙️
- Sign in using your email
- Go to Settings > Trading activity
- Click the 3-dot icon (...) in top-right and select Export in CSV
- Import the file to Koinly
Ref. MoonPay Support - How can I view and export my transaction history in MoonPay?
On Koinly:
- Create a free account on Koinly
- Complete onboarding until you get to the Wallets page and find MoonPay Rails in the list
- Click on it and select "File import" in the import options screen
- Upload the files you downloaded from MoonPay Rails (one at a time) and click on Import
- Review your transactions on the Transactions page to ensure everything is tagged correctly and no missing data
- Go to the Tax Reports page to view your tax liability!
- Head over to our help center
- Hit up our discussion boards - we might have already answered your question
- Ask us on social media - we're on Twitter and Reddit
- Contact us on email or live chat
- Got a feature request? Give us feedback on Canny
FAQs
What is MoonPay?
MoonPay is a financial technology company that allows users to use everyday payment methods such as bank transfers, Venmo, PayPal, and cards to buy cryptocurrency. It functions as a non-custodial on- and off-ramp solution, so users can buy and sell their digital assets whilst remaining in control. As such, users can set up a wallet in their MoonPay account or designate an external wallet address to send the purchased assets to.
Is MoonPay safe?
Yes, MoonPay is considered safe and legitimate. It is fully licensed in the U.S. and regulated in the UK, EU, Canada and Australia, with several security certifications: SOC 2, ISO 27701, and PCI DSS 4.0. MoonPay is also non-custodial, meaning it never stores your crypto or your private keys, so that you remain in control of your assets and their security at all times. Never share your private key and always DYOR on the best security practices when handling crypto.
Does MoonPay provide tax documents?
No, MoonPay does not provide tax documents. You can use a crypto tax calculator, like Koinly, to do it for you. Add your read-only MoonPay data to Koinly, and it will calculate your gains, losses, and income for you and generate tax reports.
