Uniswap Tax Guide
Uniswap is a decentralised finance (DeFi) protocol that allows users to exchange cryptocurrencies. Uniswap runs on the Ethereum blockchain using smart contracts, which allow for safety, speed and transparency through open-source software. Unlike centralized exchanges, Uniswap utilizes liquidity pools whereby individuals and bots can provide liquidity to Uniswap by adding a ‘pair’ of tokens to smart contracts, which can subsequently be traded with by other users. The native cryptocurrency is called UNI, and these UNI coins (or ‘tokens’) are used as a governance token, so that holders can engage in decisions about how the platform is run.
CryptoTaxCalculator is proud to introduce tax support for Uniswap. Although the exchange is gaining increasing attraction, a key issue which Uniswap users often encounter is how to properly tax their DeFi transactions. Fortunately, CryptoTaxCalculator has developed an integration with Uniswap to automate this process of recognizing tax events and calculating the taxes on your Uniswap transactions. Simply follow the below steps to automate your Uniswap taxes.
- Locate and copy your Ethereum wallet address used for Uniswap transactions (generally found on your wallet manager)
- Log in to CryptoTaxCalculator, and navigate to the ‘import data’ section. Here, you can enter Uniswap into the search field or scroll down to find it manually
- Enter your address here, provide an optional nickname and click ‘Add Wallet’
4. Once your Wallet has synced, you will see a green tick indicating that CryptoTaxCalculator has successfully pulled in the transaction history associated with this wallet address from the blockchain.
Once you have imported your data, CryptoTaxCalculator can calculate your portfolio breakdown and tax obligations. If for some reason you can’t upload your transactions you can add them individually on the review transactions page.
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