How to do your BloFin taxes with Koinly
BloFin is a popular crypto exchange, with features like spot and futures trading, copy trading, and rewards. But if you have BloFin transactions, you may have a tax bill. Connect to Koinly to calculate your tax liability easily. Here's how.
Follow these steps to sync your BloFin data automatically to Koinly:
Create a read-only API key and sync the wallet with Koinly, providing your API key, secret and passphrase you set for the key.
On Koinly:
- Create a free account on Koinly
- Complete onboarding until you get to the Wallets page and find BloFin 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!
Blofin's API does not provide your complete transaction history:
❌ Not imported (not provided by Blofin’s API):
- Funding fees
- Trading competition and lottery rewards
These transactions will need to be added manually. If you had a lot of futures trades, it may be better to use Blofin’s CSVs instead
- 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 BloFin?
BloFin is a centralized cryptocurrency exchange offering over 350 USDT-M perpetual contracts and 250+ spot trading pairs, including BTC, ETH, and SOL. It provides up to 150x leverage in futures trading, copy trading for beginners, and a demo mode for practice. Security is enhanced through partnerships with Fireblocks and Chainalysis, along with insurance coverage. The platform also offers educational resources via BloFin Academy, ensuring a user-friendly and simple trading experience.
Is BloFin safe?
BloFin appears to be a relatively secure exchange, utilizing Fireblocks for asset protection, Chainalysis for compliance, and offering insurance coverage. It supports two-factor authentication (2FA) and likely employs cold storage for funds. However, as a newer platform, it lacks the long-term reputation of industry leaders, and regulatory uncertainties could pose risks. While no major security breaches have been reported, users should take extra precautions, such as enabling 2FA and storing assets in personal wallets for long-term safety.
Does BloFin provide tax documents?
No, but you can use a crypto tax calculator like Koinly to get your BloFin taxes calculated and your tax documents generated. Just import your BloFin transaction history through your API key or CSV file to Koinly and it'll do the rest.
