How to do your Wasabi Wallet taxes with Koinly
Wasabi Wallet is a privacy-focused and non-custodial Bitcoin wallet with a custom TOR integration, but if you have Bitcoin transactions, you might have a tax bill. Koinly can help. Here's how.
FAQs
What is Wasabi Wallet?
Wasabi Wallet is a free, open-source, non-custodial Bitcoin wallet designed for privacy-conscious users. It routes all traffic through Tor, uses BIP-158 block filters to avoid unnecessary data exposure, and features CoinJoin (via the WabiSabi protocol) to anonymize transactions by mixing coins with others. The wallet supports full coin control, labeling, and integration with hardware wallets like Trezor and Ledger. It gives users complete control of their private keys through a 12-word recovery phrase. Though Bitcoin-only and desktop-based, it stands out for its advanced privacy tools and transparency, making it ideal for users seeking strong anonymity and self-custody.
Is Wasabi Wallet safe?
Wasabi Wallet is considered safe when used correctly, offering strong privacy through features like Tor routing, CoinJoin (WabiSabi), and non-custodial control of private keys. It's open-source and supports hardware wallets, enhancing transparency and security. However, safety depends on user practices. Losing your seed phrase, using an infected device, or mismanaging privacy settings can expose funds or identity. While it provides excellent privacy tools, it's best suited for users who understand Bitcoin basics and how to securely manage their wallets.
Does Wasabi Wallet provide tax documents?
No, but you can use a crypto tax calculator like Koinly to do it for you. Just add your Wasabi Wallet address, and Koinly imports your Bitcoin transaction data and does the rest.
