How to do your Fold taxes with Koinly
Fold is a financial services app and Visa debit card that lets you earn Bitcoin rewards on purchases and buy and sell Bitcoin.
If you use Fold, you likely have a tax bill. Koinly can calculate your Fold crypto taxes with just your Fold transaction history. Here's how to upload it.
Follow these steps to download your Fold App data:
Files needed
- Bitcoin transaction statement
How to download Bitcoin transaction statement
- Open your Fold app
- Switch to the Bitcoin tab
- Scroll down to Transaction History
- Tap See All
- Tap Download Statement in the top right corner
- Set the year you want to download a statement for
- Fill the email address to send the statement to
- Tap the Email Statement button
- Once you receive the email, click the download link to download the CSV
- Import the file to Koinly
On Koinly:
- Create a free account on Koinly
- Complete onboarding until you get to the Wallets page and find Fold App in the list
- Click on it and select "File import" in the import options screen
- Upload the files you downloaded from Fold App (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 Fold?
Fold is a financial services app and a Visa debit card. It is basically a bridge between traditional banking and cryptocurrency. It allows users to earn Bitcoin as a reward for everyday purchases and bill payments, provides a platform to buy, sell, and manage your Bitcoin, and can be used to withdraw physical cash from ATMs.
Is Fold safe?
Fold is considered safe. Itâs a legitimate and official Visa card, in partnership with Sutton Bank and powered by Stripe. It provides a regulated platform for earning, buying, and holding Bitcoin, and it offers FDIC insurance for USD (up to $250,000 through Sutton Bank) and BitGo insurance for BTC. Although the value of USD is protected by the FDIC, BTC is not, and it fluctuates in value. It's always best to DOYR on the best security practices for handling crypto, and it's advised to move your Bitcoin rewards into your own cold wallet to help keep your assets secure.
Does Fold provide tax documents?
No, Fold does not provide tax documents. But you can upload your Fold transaction history to Koinly, where it will calculate your crypto gains, losses, and income, and provide country-specific tax reports.
