Preparing Your Binance Taxes

CryptotaxCalculator supports two main options for uploading data from Binance so you can calculate your Binance taxes. Binance has an easy-to-use API which allows you to automatically upload data, they also offer CSV history downloads allowing you to upload the files manually.

On Binance:

  1. Login to your Binance account
  2. Hover over the my profile section in the top right corner and click API Management from the dropdown menu
  3. Give your API a name and click create, you will have to verify the creation with an SMS and email code
  4. Click Edit restrictions, uncheck enable trading and press save
  5. Copy your API and secret keys, save them somewhere secure

On CryptoTaxCalculator:

  1. Log in and navigate to the Import section of your account
  2. From the dropdown menu select Binance and Setup autosync
  3. Paste your API and Secret keys and click Import
  4. It can take up to five minutes to sync the data but you can continue uploading data from other exchanges during this time

On Binance:

  1. Login to your Binance account
  2. Hover over the Orders heading in the top right corner and select Spot Order
  3. On the left of the page select Trade History
  4. Click export complete trade history and select the time frame you have traded over
  5. The max time frame is 3 months so you might have to download multiple files
  6. You can also download your deposit and withdrawal history but this is optional

On CryptoTaxCalculator:

  1. Login to CryptoTaxCalculator
  2. Navigate to the import page and select Binance from the drop-down menu
  3. Import all the files you downloaded from Binance

That’s it, from the two options you can upload all your transactions from Binance to calculate your taxes using CryptoTaxCalculator. If you find for whatever reason you are missing some transactions you can upload transactions manually on the Review Transactions page.

All content in this article is general information only and does not constitute financial, tax or legal advice. It is not intended to be used by anyone for the purpose of financial advice, legal advice, tax advice, tax avoidance, promoting, marketing or recommending to any other party any matter addressed herein. For tax, financial or legal advice please consult your own professional.

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