How to do your Bitstack taxes with Koinly
Bitstack is a European app and card that allows you to buy, sell, and save Bitcoin.
If you're using Bitstack, you will need to pay taxes. Koinly can calculate your crypto taxes with your Bitstack transaction history. Here's how to upload it.
On Koinly:
- Create a free account on Koinly
- Complete onboarding until you get to the Wallets page and find Bitstack in the list
- Click on it and select "File import" in the import options screen
- Upload the files you downloaded from Bitstack (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!
- 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
What is Bitstack?
Bitstack is an app and card available across 18+ European countries, which can be used to buy, sell, transfer, and save Bitcoin. Its main feature automatically rounds up your everyday purchases and converts the spare change into Bitcoin. For example, a €4.60 coffee becomes a €5 charge, so that the €0.40 is invested in Bitcoin.
Is Bitstack safe?
Bitstack is considered relatively safe. They have several security measures in place, including a multi-sig key scheme, encrypted data, and Bitstack itself does not store your banking credentials; instead, these are stored with their partner Tink, a Visa subsidiary approved by the FSA. Make sure to DOYR around best security practices for using crypto cards to keep your data as safe as possible.
Does Bitstack provide tax documents?
No, Bitstack doesn't provide tax documents. If you're using the Bitstack app and/or card, you can sync your transaction history with Koinly, which will calculate your gains, losses, and income and provide specialized tax reports.
