How to File Your MyBTC.ca Taxes with Koinly
MyBTC.ca is a non-custodial Bitcoin trading platform based in Canada, that allows users to trade Bitcoin while maintaining complete control of their own keys and crypto. Whatever your MyBTC.ca transactions, Koinly can help with your Bitcoin taxes in Canada. Here's how it works.
Follow these steps to download your MyBTC.ca data:
- Log in to your MyBTC.ca account
- Go to the transactions history page
- Export/download your transaction history for ALL years of trading (check with their support if you can't find this)
- Manually check that the file contains all your deposits, withdrawals and trades
- Create a free account on Koinly
- Complete onboarding until you get to the Wallets page and find MyBTC.ca in the list
- Click on it and select "File import" in the import options screen
- Upload the files you downloaded from MyBTC.ca (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!
Does MyBTC.ca report to the CRA?
MyBTC.ca is a regulated Canadian money service business (MSB). As such it must adhere to KYC and AML obligations report to FINTRAC and potentially share data with other authorities like the CRA as required.
Your frequently asked questions
Does MyBTC.ca have tax documents?
No. MyBTC.ca does not issue tax documents for users. Instead, you can download a CSV file of your MyBTC.ca transaction history and either calculate your Bitcoin taxes yourself, or use crypto tax software like Koinly to do it for you.
How do I get my tax report from MyBTC.ca?
The easiest way to get a tax report from MyBTC.ca is to export a CSV file of your MyBTC.ca transaction history and upload this to a crypto tax calculator like Koinly. Koinly can calculate your taxes according to the CRA rules and generate your CRA crypto tax reports in no time at all.
Do I have to pay taxes on MyBTC.ca?
Yes. You have to pay taxes on your MyBTC.ca transactions. The CRA is clear that Bitcoin and other cryptocurrencies are subject to Income Tax. You can learn more in our Canada crypto tax guide.
Does MyBTC.ca provide financial or end of year statements?
No. My BTC.ca does not issue financial or end of year statements, but you can export your MyBTC.ca transaction history as a CSV file to get accurate records of your transactions.