How to File Your NDAX Taxes with Koinly
NDAX is a popular Canadian crypto exchange, allowing Canadian investors to buy, sell, trade, and stake a wide range of cryptocurrencies, as well as offering a wealth OTC desk. Whatever your investments, Koinly can help you do your NDAX taxes.
Watch how to do your NDAX taxes
How to connect NDAX to Koinly automatically
Koinly has single-sign on with NDAX, making it easier than ever to import your crypto transaction history to Koinly to do your taxes. You can connect either from Koinly or from NDAX. Here's instructions for how it works from both sites.
On NDAX
Log in to your NDAX account
Go to settings and scroll down to the tax reporting area
Turn the toggle on for ‘connect account with Koinly’
Read and accept the terms and conditions by selecting acknowledge
You'll be taken to the Koinly site, where you can connect your NDAX account by selecting continue
Please note that the Koinly integration will only be visible to users who have enabled 2FA on their NDAX account. If you don't see the Koinly integration in your settings, then you may need to enable 2FA in order to connect from NDAX.
On Koinly
Log in to your Koinly account and go to wallets
Select add new wallet: NDAX
Select set up auto sync
Select continue to NDAX
You'll be taken to the NDAX site, where you can grant read-only permissions for your Koinly account
How to connect NDAX to Koinly via CSV
If you prefer to use CSV files, you can. All you need is your NDAX transaction history. Here's how to download your NDAX CSV file.
How to export NDAX transaction history as a CSV file
Log in to NDAX
In the menu on the left, select reports
Select create report
Select ledgers from the first drop-down menu
Select all currencies from the second drop-down menu
Select a date range that covers your entire account history
Select create
Select the download icon next to your generated report
How to upload your NDAX CSV file to Koinly
Sign up or log in to Koinly and go to wallets
Select add new wallet: NDAX
Select import from file
Upload your NDAX CSV file
Does NDAX report to the CRA?
Yes, NDAX may report to the CRA. NDAX is a FINTRAC-registered crypto service provider. In order to comply with FINTRAC regulations, NDAX may be required to share customer data with the CRA on request.
Your frequently asked questions
Does NDAX send tax forms?
No, NDAX does not issue users with tax forms. However, you can download a CSV file of your NDAX transaction history to create one, or connect to crypto tax software via API.
How do I get NDAX tax forms?
The easiest way to get your NDAX tax forms is to connect to Koinly via API. This automatically fetches your NDAX transaction history and lets Koinly calculate your gains, losses and income in minutes and generate your Canada crypto tax reports.
Is NDAX registered in Canada?
Yes NDAX is located in Alberta, registered as a Money Service Business, and regulated by the Financial Transactions and Reports and Analysis Centre of Canada (FINTRAC).
How do I download NDAX transaction history?
Just log into your NDAX account and go to reports, then select create report. Once your report is generated, you'll be able to download it by clicking the download icon next to it.
Do I have to pay tax on NDAX?
Yes - if you have capital gains from selling or trading crypto on NDAX, or income from staking crypto on NDAX, you'll be liable for tax on it. The CRA is clear crypto is subject to Income Tax and the penalties for crypto tax evasion are steep.
Does NDAX provide end of year or financial statements?
No, NDAX does not provide an end-of-year financial statement. But if you'd like a statement for a single year, you can pick a date range that reflects your financial year when exporting your NDAX CSV file.
