Preparing Your BTC Market Taxes
Introduction
As the first step in your crypto tax process, you will need to upload all your transactions to CryptoTaxCalculator. For BTC Markets there are two ways to do so, through an API upload or through a CSV history file upload. Either will work and allow CryptoTaxCalculator to calculate your crypto taxes and specifically your BTC Markets tax obligation.
Using an API
The easiest way to transfer data is to generate an API and share the details with CryptoTaxCalculator.
On BTC Markets: 1. Login to BTC Markets 2. Navigate to API Key page 3. Make sure READ ONLY is selected on all options 4. Click the ‘Generate API Key’ button 5. To reveal the Secret Key, click the ‘Display’ button 6. Copy both the Public Key and the Secret Key
On CryptoTaxCalculator: 1. Once logged in navigate to the Import page and select BTC Markets from the dropdown menu 2. Paste in your API key, secret key, and passphrase used to create the API 3. The process might take a few minutes but in the meantime, you can upload data from your other exchange accounts and wallets
Using a CSV upload
The alternative to using an API is downloading your transaction data from BTC Markets and uploading the files to CryptoTaxCalculator.
On BTC Markets: 1. Login to BTC Markets 2. Navigate to Buy/Sell > Trade History 3. Click on Export to CSV 4. This is not the same as the Transaction History report
On CryptoTaxCalculator: 1. Once logged in navigate to the import page 2. Select BTC Markets from the dropdown menu 3. Click the import button and upload all the files you have downloaded from BTC Markets
Wrapping Up
Once you have uploaded all your crypto data CryptoTaxCalculator can calculate your portfolio breakdown and crypto tax obligation. If for some reason you can’t upload your transactions you can add them individually 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.
