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How to file your BTC Markets taxes with Koinly

How to do your BTC Markets taxes with Koinly 

BTC Markets is an Australian crypto exchange that's particularly popular with large-scale investors thanks to its fee tier and API trading capabilities. If you're using BTC Markets to invest in Bitcoin and other cryptocurrencies, the ATO will want their cut of your profits by the 31st of October. If you need to learn how to calculate and file your BTC Markets taxes with the ATO, you're in the right place. Here's how:

  1. Sign up to Koinly and choose your country (Australia) and currency (AUD)
  2. Connect BTC Markets with Koinly to import all your BTC Markets trades safely and securely
  3. Koinly categorizes BTC Markets transactions into gains, losses, and income
  4. Koinly calculates your BTC Markets Capital Gains Tax and BTC Markets Income Tax
  5. Download your BTC Markets tax report from Koinly
  6. File your BTC Markets taxes online with the ATO or with your crypto tax accountant

Watch how to do your BTC Markets taxes fast

How are BTC Markets transactions taxed?

The tax you’ll pay on your BTC Markets transactions all depends on how long you’ve held your asset, how much you earn, and the specific transactions you’ve made - as well as where you live. You can learn all about it in our  Australia crypto tax guide, but in brief, you’ll pay Capital Gains Tax or Income Tax, depending on your specific transactions: 

  • Capital Gains Tax: If you sold or swapped crypto on BTC Markets, you’ll pay Capital Gains Tax on any gain. For short-term gains on assets held less than a year, you’ll pay between 0% to 45% in tax depending on how much you earn. For long-term gains on assets held more than a  year, you’ll receive a 50% discount. 
  • Income Tax: Meanwhile, if you earned new tokens from your investment activities on BTC Markets, the ATO generally views this as additional income and you may need to pay Income Tax upon receipt.

Outside Australia? Check out our other crypto tax guides to learn more!

Does BTC Markets report to the ATO?

Yes, BTC Markets may report to the ATO. As an AUSTRAC registered exchange, BTC Markets may be required to share customer data with the relevant government authorities including the ATO.

How do I file my BTC Markets taxes?

The ATO is very clear that if you're selling or swapping crypto on exchanges like BTC Markets - you'll need to pay Capital Gains Tax on any gains, as well as Income Tax on any additional income from crypto.

If you're a busy investor with a lot of transactions - it's a lot of work. But fortunately, a BTC markets tax calculator can help. To get started, you'll need your BTC Markets transaction history. Here's how to get it using API or by getting a CSV file of your transaction history.

How to connect Koinly and BTC Markets automatically using API

The easiest way to do your Independent Reserve taxes is to connect to crypto tax software via API. Just log in to Independent Reserve and head to settings, then API. Create a read-only API key and copy your API key and secret, then paste this into your crypto tax calculator when adding a new wallet. Done!

On BTC Markets

  1. Log in to BTC Markets
  2. Select account
  3. Select API key
  4. Create a read-only API key
  5. Copy your API key and secret

On Koinly

  1. Sign up or log in to Koinly and go to wallets
  2. Select add new wallet: BTC Markets
  3. Select set up auto-sync
  4. Paste your API key & secret
  5. Select secure import


You only need a read-only API to connect Koinly & BTC Markets. So don’t worry about Koinly having trade access or other access to your BTC Markets account. 

How to integrate BTC Markets with Koinly using CSV

You'll need to start by downloading a CSV file with your full trading history from BTC Markets before you can upload it to Koinly - here's how.

How to download and export your transaction history CSV file from BTC Markets 

  1. Log in to BTC Markets
  2. Select account from the top navigation bar
  3. Select transaction history
  4. Select export to CSV

How to upload your BTC Markets CSV to Koinly

Now you've got your CSV file, here's how to upload it to Koinly.

  1. Sign up or log in to Koinly and go to wallets
  2. Select add new wallet: BTC Markets
  3. Select import from file
  4. Upload your CSV file


Don’t forget to tag your transactions according to the ATO’s crypto tax rules.

How do I troubleshoot my BTC Markets integration to Koinly?

Problems connecting BTC Markets and Koinly? No worries - there's help at hand:

Calculate your BTC Markets taxes

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Does BTC Markets have tax documents?

No, BTC Markets don’t provide a tax report, but you can get one using crypto tax software.

How do I get BTC Markets tax documents?

BTC Markets offers 2 easy ways to export your transaction history:

1. If you're using crypto tax software - the BTC Markets tax API is quicker and automatically fetches your transaction history. To connect, just log in to BTC Markets and select account then API key. Create a read-only API and copy your API key and secret, then paste these details into your crypto tax tool when you're adding a new wallet.

2. Prefer to use a CSV file? No problem. Log in to BTC Markets and select buy/sell, then trade history to export to CSV. Use your CSV file to calculate your crypto taxes yourself or upload it to a crypto tax calculator.

Does BTC Markets provide financial or end of year statements?

No, BTC Markets doesn't issue users with a financial or EOFY statement. Instead, you’ll need to get your BTC Markets transaction history, via CSV or API.

Do I have to pay taxes on BTC Markets?

Yes - you’ll pay tax on any capital gains or income from your BTC Markets transactions. And if you’re thinking of avoiding your taxes? Think again -  the penalties are steep!

Is BTC Markets safe?

Yes. BTC Markets is regarded as a safe and secure crypto exchange with best security practices and has not been hacked to date.

Does BTC Markets have KYC?

Yes, BTC Markets is an AUSTRAC registered Digital Currency Exchange and requires users to complete KYC verification in order to use the platform.

Has BTC Markets published proof of reserves?

BTC Markets has not released a Merkle Tree proof of reserve, but the exchange may do so in the future to reassure customers their assets are safe. BTC Markets does state on its site that the exchange manages a full reserve and processes reconciliations regularly.

Which countries can use BTC Markets?

BTC Markets currently only allows Australian residents over the age of 18 to create an account.