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How to file your Binance taxes

What is Binance?

The largest crypto exchange in the world  - Binance helps millions of crypto investors buy, sell, and trade crypto every day... and much, much more. As well as being able to buy crypto with a credit or debit card, investors can also access a huge range of products including margin trading, P2P trading, futures trading, leveraged tokens, options, staking, earn products, liquidity farming, and DeFi staking. Users can also get a Binance Card to spend crypto, take out crypto loans, and buy, sell, and trade NFTs.

Is Binance safe?

Yes, Binance is widely regarded as a safe crypto exchange by its users. As the leading crypto exchange worldwide, Binance has excellent security measures including offline cold storage, real-time monitoring, and advanced data encryption. For user security, Binance offers features like IP and wallet whitelisting, sign-in protocols like 2FA, and opt-in security notifications. However, you should always follow best security practices and keep your crypto in an offline, secure wallet when you're not actively trading.

How to do your Binance taxes with Koinly

Koinly can help you do your Binance taxes safely, quickly, and accurately. Here's how it works:

  1. Sign up to Koinly and choose your country and currency
  2. Connect Binance with Koinly to import all your Binance trades safely and securely
  3. Koinly calculates your Binance gains, losses, and income
  4. Download your Binance tax report from Koinly
  5. File your Binance taxes online or with your crypto tax accountant

Watch how to do your taxes with a Binance CSV and Koinly FAST

Does Binance report to tax offices?

In short - yes. The majority of tax authorities around the world including the IRS are taking a similar hard stance on crypto tax evasion. They're working with major exchanges operating in their country to share KYC information and ensure taxpayers are paying their fair share. As Binance is the largest crypto exchange worldwide, it is very likely they have been contacted by multiple tax authorities to share customer information.

Does Binance send tax forms?

No - and for good reason. Binance serves millions of users worldwide, meaning the exchange would need to be able to generate a huge number of tax forms in order to serve all its users! However, you can use a crypto tax calculator like Koinly to get your Binance tax forms easily.

How do I get my Binance tax documents?

To include your Binance crypto investment activity in your annual tax return you'll need to calculate and report any income or capital gains - or losses - you made throughout the year. 

You can do this in one of two ways. You can either do it yourself, by identifying your taxable transactions, calculating your net capital gain or loss, and the fair market value of any crypto income.

Or, you can use a crypto tax calculator like Koinly. Koinly calculates your income and gains or losses for you and automatically generates your Binance tax report, ready to file with your tax office.

Koinly works by importing your Binance transaction data to analyze what's taxable, and what's not. Let's look at an example - here's some transactions in a Binance account.

Transactions in Binance

You can import your Binance transaction history via API integration or by uploading CSV files of your Binance transaction history. Once you've done this, you'll be able to see your Binance transactions in Koinly - like this.

Transactions in Koinly

Koinly lets you manage all your crypto transactions - from Binance and any other exchanges you use - from one single platform, making crypto tax simple. Here's how to connect...

If you're using Binance US - your steps will be slightly different. See our full guide on how to do your Binance US taxes.

How to connect Binance to Koinly automatically with API

On Binance

  1. Log in to Binance
  2. Go to the Binance API management page
  3. Select create tax report API - this is read-only by default
  4. Copy the API Key and API Secret

On Koinly

  1. Sign up or login into Koinly and head to the wallets page
  2. Add a new wallet: Binance
  3. Select set up auto sync
  4. Paste your Binance API key and API secret
  5. Select secure import


1. The Binance API does not give return data pertaining to the auto-invest feature. If you have auto-invest transactions, you'll need to add these to Koinly by uploading a CSV file.

2. The Binance API does not provide convert trades made before the 1st of January 2021.

3. Dust conversions more than 1-year-old are not provided by the API.

4. Binance API import normally takes around 50 minutes to complete.

5. If you've already used the API method, make sure you delete your existing Binance transactions from Koinly before you upload your CSV file. You can find this option on the troubleshooting Binance page, on the right. It's really important you do this as otherwise, you'll end up with duplicated transactions and an inaccurate tax report!

6. The Binance API now syncs your full futures transaction history! Users should however be aware that they may receive emails and SMS messages when Koinly is syncing the futures stating that their CSV export is ready. Another limitation to be aware of is that futures older than three months can only be synced once or twice per month so resyncing from the beginning may not always sync all of your futures transactions.

How to integrate Binance with Koinly using CSV

You'll need to start by downloading a CSV file with your full trading history from Binance before uploading it to Koinly - here's how.

How to download and export Binance CSV transaction history file

  1. From your Binance account, select wallet from the top navigation menu
  2. From the drop-down menu, select transaction history
  3. Now select export transaction records
  4. Under time, select customized. Enter your date range (maximum 12 months)
  5. Select generate. Your statement might take a moment to generate
  6. Repeat until your full trading history is covered

How to upload your Binance CSV to Koinly

  1. Sign up or login into Koinly and head to the wallets page
  2. Add a new wallet: Binance
  3. Select import from file
  4. Upload your CSV file(s)


1. If you're using the CSV file upload method make sure to import your deposits, withdrawals, and trades for ALL trading years and not just the current year. Binance lets you download a maximum of 1 year transaction history at a time, so you may need to export multiple CSV files to cover your complete Binance trading history. We have a great help article for common issues with Binance CSV full of troubleshooting tips.

2. If you're investing in Binance futures, you might be a little confused about your data import. On the transactions page, select label and then Realized P&L from the drop down menu to filter to only your futures transactions. Koinly imports the actual profit and loss from your futures trades and aggregates your P&L transactions, so you'll only have a few transactions a day as opposed to potentially hundreds.

3. Margin trades & P2P are not included in your transaction history CSV file.

How do I troubleshoot my Binance integration to Koinly?

Having issues with your Binance data import? We can help:

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What is the difference between Binance and Binance US?

Binance US launched after parent company Binance withdrew services for US investors following issues with regulatory requirements. Binance US looks and feels the same as Binance, but there are fewer products on offer and fewer cryptocurrencies available to purchase. As well as this, Binance US is required to report user transactions over a given amount to the IRS.

Who is the Binance CEO?

Wondering who owns Binance? Changpeng Zhao, also known as CZ, is the co-founder and CEO of Binance. CZ is considered an industry leader and regularly talks about crypto market news, issues, and more on his Twitter account.

Where is Binance located?

Binance was founded in China, but moved the HQ following the government ban on crypto trading, moving to Tokyo and then Malta. Binance also has offices all around the world.

How does Binance work?

Binance works much the same as any other crypto exchange - you can use the platform to access a variety of crypto investment opportunities depending on your needs.

All you need to do to use Binance is set up an account and get funded. Setting up an account is easy, you'll just need an email address, but you'll also need to complete KYC verification in order to start trading. This means providing certain personal details including your name, ID, and address. Once you're verified, you can fund your account. There are a lot of options for funding your account, but you can use a debit card, transfer crypto in or start buying crypto right away without a fiat deposit using a credit card.

What is Binance Coin?

Binance Coin is a crypto coin issued by the Binance exchange. The ticker is BNB. The coin is used to power the Binance Chain ecosystem, but you can also buy, sell and trade it like you would any other coin. Unsurprisingly, you can buy Binance Coin on Binance, as well as on all other major crypto exchanges.

Which should I use Coinbase vs Binance?

Both Binance and Coinbase are market-leading exchanges in terms of daily trading volume, the cryptocurrencies available, and the security practices the exchanges use. There is no wrong or right answer on which exchange to use. Instead, you should look at the cryptocurrencies and products available on each exchange and assess which is the best exchange for you. Bur can check out our best crypto exchanges guide for more information to help you choose.

Binance NFTs

Binance added NFT offerings back in 2021 and remains a popular NFT marketplace with huge collections like Bored Ape, Wrapped Cryptopunks, and more.

Can you import NFTs on Binance?

Yes. You can import your NFTs and NFT collections to Binance. Just go to Binance NFT and log in, then follow these steps:

  1. Select profile
  2. Select collected
  3. Select deposit
  4. In the side panel, pick a network (Binance supports Binance Chain, Ethereum, and Polygon)
  5. Connect your wallet
  6. Follow the prompts in your wallet to verify the connection
  7. You should now be able to see your NFTs, so select the NFT(s) you want to import to Binance
  8. Select deposit now
  9. Approve the NFT(s)
  10. On the page verifying access and transfer, select confirm (you will need to pay a gas fee to approve this)
  11. Confirm the gas fee approval in your wallet
  12. You should see a deposit in process window which will show your progress and when your NFT(s) is successfully deposited

How to create an NFT on Binance

Wondering how to mint an NFT on Binance? Easy! Here's how.

  1. First, you'll need to create an NFT collection. See steps on how to make a collection
  2. Once you have a collection, go to the Binance NFT marketplace and select profile
  3. Select created
  4. Select create NFT
  5. Accept the terms and conditions
  6. Enter the details for your NFT including a name, description, network, and collection
  7. Add properties for your NFT
  8. Check the minting fee, agree to the minting rules, and select create
  9. Once complete, you'll see a minting completed pop up

How to buy an NFT on Binance

It's easy to buy an NFT on the Binance NFT marketplace, just find the item page you want to buy and select buy now. If you want to bid on an NFT instead, just find the item page and you can make an offer to the seller instead.

How to sell an NFT on Binance

Wondering how to list an NFT for sale on Binance? Easy. Once you've created or imported your NFT, just follow these steps:

  1. Go to the page for the NFT you want to sell by selecting view item
  2. Now select list NFT
  3. Select your sell method - you can pick from set price (buyers can instantly purchase) or highest bid (auction to the highest bidder)
  4. For set price, simply enter the crypto you want to receive and the sale price of your NFT
  5. For highest bid, select the cryptocurrency you'd like to receive and the minimum bid amount for your sale, and a minimum markup percentage
  6. Set a date and time for your sale
  7. Select submit
  8. NFTs are assessed automatically before going on sale to ensure it meets Binance standards - this takes about 10 minutes
  9. Once your NFT is listed, you'll receive a listing completed pop-up

Does Binance have tax documents?

No, Binance doesn't provide a specific Binance tax report - but it is partnered with a variety of excellent crypto tax apps (like Koinly) that can take your Binance transaction report and use it to generate a tax report for Binance.

How do I get Binance tax documents?

There are two ways to generate a Binance tax form - manually or using a crypto tax app. The easiest way is to use the Binance tax reporting API and a crypto tax software like Koinly. Or, alternatively, you can export Binance transaction history in a CSV and manually calculate your tax obligations.

Do you get a 1099 from Binance? stopped operating in the US due to regulatory issues with the IRS, subsequently launching as a solution. Binance US complies with the IRS to share customer information based on the KYC identification and issues 1099 forms.

Does Binance provide financial or end of year statements?

Technically no, but you can use your Binance account statement which contains your complete transaction history. You can then use this statement to generate a Binance tax statement.

Do I have to pay taxes on Binance?

Yes - if you have capital gains or income as a result of your crypto investment activities on Binance, you'll need to report these to your tax office and pay taxes on them or face steep penalties.

Can you use Binance in the US?

No, US users have been blocked from Binance due to US regulations. However, Binance has launched an American version, Binance.US, that US-based users can use. Some products are not offered to US users though.

Is Binance.US the same as Binance?

No and are not the same. is specifically for US residents and citizens. In order to comply with US regulations, some of the products of the international Binance exchange are not permitted.

Does Binance have Proof of Reserves?

Yes - Binance has provided Proof of Reserves via a snapshot, with a Merkle Tree released for Bitcoin, with more tokens and networks to be added over the coming weeks. Binance’s snapshot covers blockchains including BTC, ETH, BSC, BNB & TRX. For more information about what proof of reserves are and why it matters - check out our blog post.