How to do your Bitbuy taxes with Koinly
Bitbuy is a safe and trusted crypto exchange for Canadian investors, with a range of product options for investors of all experience including express, pro and private wealth OTC trading. Whatever your Bitbuy investments, Koinly can help with your Bitbuy taxes.
- Sign up to Koinly and choose your country (Canada) and currency (CAD)
- Connect Bitbuy with Koinly to import all your Bitbuy trades safely and securely
- Koinly categorizes Bitbuy transactions into gains, losses and income
- Koinly calculates your Bitbuy Capital Gains Tax and Bitbuy Income Tax
- Download your Bitbuy tax report from Koinly
- File your Bitbuy taxes with the CRA online or with your crypto tax accountant.
Watch how to do your Bitbuy taxes fastÂ
How to connect Bitbuy to Koinly via API
On Bitbuy
- Log in to Bitbuy
- Scroll to the bottom of the page and select API from the footer
- Email [email protected] Bitbuy will then set you up a read only API key for your account. They may ask why you require an API key. You need a read-only API key for tax purposes
- Once you have your API key details, copy your API key and API secret
On Koinly
- Sign up or login into Koinly and go to the wallets page
- Add a new wallet: Bitbuy
- Select set up auto sync
- Paste the API key and secret
- Select secure import
Important
1. The API import may take a few minutes which is normal.
2. Spot a yellow circle in your Koinly Wallet? Koinly has calculated your balances based on the imported transactions but the balances reported by the API aren't quite matching up. Don’t worry, this is easy to fix! See our support article here for quick troubleshooting steps.
How to integrate Bitbuy with Koinly using CSV
You'll need to start by downloading a CSV file with your full trading history from Bitbuy before you can upload it to Koinly - here's how.
How to download and export your transaction history CSV file from Bitbuy
- Log in to Bitbuy
- Select profile in the top right corner
- From the drop down menu, select settings
- Scroll down to end of year reports
- Select the report you'd like to download. You'll need to download a report for every year you've been trading using Bitbuy to get your complete transaction history to upload to Koinly
How to upload your Bitbuy CSV to Koinly
Now you've got your Bitbuy CSV file, here's how to upload it to Koinly.
- Sign up or login into Koinly and head to the wallets page
- Add a new wallet: Bitbuy
- Select import from file
- Upload your CSV file(s)
Important
1. You may need multiple CSV files from Bitbuy to cover your entire trading history. You may only export one year's worth of data at a time.
2. Don't forget to tag your airdrops and forks. This will ensure that they show up correctly as income on your Bitbuy tax reports.
How do I troubleshoot my Bitbuy integration to Koinly?
Something still doesn’t look right on your report? Not to worry - there’s plenty of help available:
- 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 or Reddit
- Contact us on email or live chat
- Got a feature request? Give us feedback on Canny
Calculate your Bitbuy taxes
Sign up free today to calculate your Bitbuy taxes.
Does Bitbuy have tax documents?
No, Bitbuy doesn't provide a ready to go Schedule 3 or Income Tax Report - but you can use your Bitbuy transaction history to calculate your Bitbuy taxes in minutes with crypto tax software like Koinly.
How do I get Bitbuy tax documents?
The easiest way to get your Bitbuy tax documents is to connect Bitbuy to Koinly via API. Your API fetches your Bitbuy transaction history automatically and Koinly can then calculate your taxes and generate your Bitbuy tax documents.
Is Bitbuy taxable?
Yes. If you have capital gains or income from crypto investments on Bitbuy, then you have a tax liability. You need to report these to the CRA in your annual tax return. Failure to report may result in steep penalties from the CRA, including heavy fines.
How do I file taxes with Bitbuy?
Once you've connect Bitbuy to your crypto tax calculator, just download the tax report you need and file how you usually prefer - whether that's with paper forms, using self-filing tax software or via your accountant. Koinly can help with all 3!
Is Bitbuy regulated?
Yes. Bitbuy is registered and regulated by the Financial Transactions and Reports Analysis Center of Canada (FINTRAC), the Ontario Securities Commission (OSC) and the Canadian Securities Administrators (CSA).
Does Bitbuy provide financial or end of year statements?
Yes! You can download your end of year report from Bitbuy. This includes your complete Bitbuy transaction history for a given financial year. You'll be able to see multiple reports if you have been using Bitbuy for multiple years.