How To Do Your MEXC Global Taxes With Koinly

Connect MEXC Global with Koinly to calculate your crypto tax

Formerly MXC, MEXC Global is a large crypto exchange, serving crypto investors around the world. The platform suits investors of all experience, with a huge product range including spot and margin trading, quantitative trading, futures, mining, staking, and ETFs. Whatever your investments, Koinly can help with your MEXC taxes.

How are MEXC transactions taxed?

Crypto tax varies depending on where you live and how your tax office views crypto assets and your investment activities. However, in general, two kinds of tax may apply to your MEXC transactions:

• Capital Gains Tax: Whenever you sell or swap crypto on MEXC, you'll pay Capital Gains Tax on any profits. This may also include any realized profit when you close your position in a margin trade or futures contract.
• Income Tax: If you're earning new tokens through MEXC Earn products - like staking, mining, or airdrops - then you'll pay Income Tax based on the fair market value of new tokens or coins on the day you receive them, in your fiat currency.

Want to learn more about crypto tax in your country? See our crypto tax guides.

Does MEXC provide tax documents?

No, MEXC does not issue tax documents for users. Instead, users need to download their MEXC transaction history and either calculate their MEXC gains and income themselves, or use crypto tax software to do it in a fraction of the time.

How to get your MEXC tax report with Koinly

MEXC and Koinly pair up to become your ultimate MEXC tax tool. You can connect MEXC with Koinly in one of two easy ways. Either use the MEXC API to connect to Koinly automatically and fetch your transaction data, or export a CSV of your MEXC transaction history and upload that to Koinly instead.

Once connected, Koinly will calculate your MEXC taxes based on your location and generate your crypto tax report, all within 20 minutes. All you’ll need to do at tax time is download the crypto tax report you need from Koinly and file it with your tax authority.

How to connect MEXC to Koinly via API

On MEXC

1. Log in to MEXC.
2. In the top right corner, select your profile icon.
3. From the drop down menu, select API.
4. Under Manage API/Create New API Key, check all the boxes with read permissions. Koinly only needs read only access.
5. Select create.
6. Enter your email verification code or 2FA verification code.
7. Select confirm.
8. Copy your API key (access key) and secret key.

On Koinly

1. Sign up or log in to your Koinly account and go to the Wallets page.
2. Select add new wallet: MEXC Global.
3. Select set up auto-sync.
4. Paste the API key and API secret into Koinly.
5. Select secure import.

How to connect MEXC to Koinly via CSV

There are quite a few CSV files you'll need to get your complete transaction history from MEXC, so we'll walk you through each.

On MEXC

Deposits & Withdrawals CSV files

1. Log in to MEXC.
2. In the top right corner, select wallets.
3. From the drop down menu, select history.
4. Select export wallet history.
5. Under type, select deposit.
6. Pick a date range. This should cover your entire trading history on MEXC, however long you've had the account. The maximum time period is 12 months, so you may need multiple CSV files.
7. Select generate.
8. Select confirm.
9. When the report is ready, select download.
10. Now under type, select withdraw from the drop down menu.
11. Select a date range. This should cover your entire trading history on MEXC, however long you've had the account. The maximum time period is 12 months, so you may need multiple CSV files.
12. Select generate.
13. Select confirm.
14. When the report is ready, select download.
15. You may also need to repeat these steps if you have transactions under the 'other' tab in this section.

Spot Trades CSV file

1. Log in to MEXC.
2. In the top right corner, select orders
3. From the drop down menu, select spot orders.
4. Select the trade history tab.
5. Select export trade history.
6. Under trading pair, select all.
7. Under side, select all.
8. Select a date range. This should cover your entire trading history on MEXC, however long you've had the account. The maximum time period is 12 months, so you may need multiple CSV files.
9. Select generate.
10. Select confirm.
11. When the report is ready, select download.

Margin Trades CSV file

1. Log in to MEXC.
2. In the top right corner, select orders
3. From the drop down menu, select margin orders.
4. Select the trade history tab.
5. Select export trade history.
6. Under trading pair, select all.
7. Under side, select all.
8. Select a date range. This should cover your entire trading history on MEXC, however long you've had the account. The maximum time period is 12 months, so you may need multiple CSV files.
9. Select generate.
10. Select confirm.
11. When the report is ready, select download.

On Koinly

1. Sign up or log in to your Koinly account and go to the wallets page.
2. Select add new wallet: MEXC Global.
3. Select import from file.
4. Upload your CSV file(s).

Does MEXC report to the IRS?

As a large centralized crypto exchange operating in the US and many other countries, it's highly likely MEXC Global has faced pressure from tax offices around the world to share customer data to ensure tax compliance. MEXC does have some KYC processes in place, though you can access many products without completing KYC.

How do I check if my MEXC import is accurate?

If you're having trouble connecting MEXC and Koinly, these resources might help:

• Try our help center for user guides.
• Search the FAQs in our discussion boards.
• Ask us - we’re on Twitter and Reddit.
• No luck? Contact us.

It's really helpful to use our Getting Started Guide before reviewing your transactions. This can help you identify and resolve any issues in no time at all.