BitMart Tax Guide 2025
Capital gains or income from BitMart transactions are taxable.
Investors must report any taxable profits to their tax office.
A crypto tax calculator can automatically calculate BitMart gains, losses, and income, and generate BitMart tax documents.
How are BitMart transactions taxed?
Crypto tax rules depend on your country (so read our crypto tax guides for more info) and how your tax authority classifies digital assets and investment income. That said, most BitMart users typically face two types of tax:
Capital Gains Tax: If you sell, trade, or swap crypto (including NFTs or stablecoins) on BitMart and make a profit, that gain is usually taxable. This also generally includes profits from closing futures or margin positions.
Income Tax: If you earn crypto through BitMart features like staking, savings, or referral rewards, you may owe income tax based on the token's market value at the time you received it, converted to your local currency.
Does BitMart automatically deduct taxes?
No. BitMart does not deduct taxes on behalf of users. It's your responsibility to set aside any tax due from your profits and pay it to your tax office.
Does BitMart report to the IRS?
As BitMart operates in the US, it’s likely the exchange has faced pressure from the IRS to share customer data in order to ensure tax compliance. The IRS is able to request KYC data from centralized crypto exchanges. The best way to remain tax compliant is to report your BitMart transactions accurately.
Does BitMart provide tax documents?
No. As a global exchange, BitMart is unable to generate the many tax documents users may need. However, BitMart users can download their BitMart transaction history and use this to calculate their BitMart taxes, or use a crypto tax calculator like Koinly to do it in a fraction of the time.
Do you get a 1099 form from BitMart?
Although BitMart operates in the US, they have not been known to send 1099 forms to users or the IRS historically. Many derivative and earn products on BitMart are not available to US users.
How to do your BitMart taxes with Koinly
Whatever your BitMart investments, Koinly can help with your BitMart taxes and generate BitMart tax documents automatically. Just import your transaction history via API or upload a CSV file of your BitMart transaction history, and Koinly handles the rest.
Follow these steps to sync your BitMart data automatically to Koinly:
- Log in to BitMart.
- Select your account name in the top right corner.
- Select API Management from the drop-down menu.
- Under create new API, write a name in the memo box.
- Make sure that under authority, only read-only is selected.
- Complete 2FA.
- Select submit.
- Copy your API key - store it somewhere safe, you won't be able to see it again.
- Select confirm.
- Paste your API key into the field in Koinly.
On Koinly:
- Create a free account on Koinly
- Complete onboarding until you get to the Wallets page and find BitMart in the list
- Select API > Paste the API keys 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!
- This API can only provide the 200 most recent trades. If you have more trades than this then you will need to use CSV files instead
- Rebates are only provided for the last 6 months. Older rebates need to be imported using CSV files
- 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
How do I get BitMart tax documents?
The simplest way to get your BitMart tax documents is to connect Koinly to BitMart automatically, or upload a CSV file of your BitMart transaction history. Koinly will then calculate your BitMart taxes and generate your BitMart tax documents.
Does BitMart provide financial or end of year statements?
No, BitMart doesn’t supply a financial or EOFY statement. But you can use the CSV file of your BitMart transaction history instead to calculate your crypto taxes.
Do I have to pay taxes on BitMart?
Yes, if you have capital gains or income as a result of your crypto investment activities on BitMart, you'll need to report these to your tax office and pay taxes on them, or face steep penalties.
Does BitMart have KYC?
Yes, you’ll need to complete KYC verification in order to use BitMart. Like many other exchanges, they have different levels of verification, and these different verification levels have their own withdrawal limits.
Does BitMart report to other tax offices?
BitMart is a global exchange that operates in 180 countries… in other words, it’s highly likely BitMart reports to other tax offices like HMRC, the ATO, and the CRA. Your customer data may be requested by these tax offices in order to ensure tax compliance.
