How to Do Your CEX.io Taxes?
CEX.IO was founded in 2013 as a certified multi-functional crypto exchange. It is a licensed worldwide cryptocurrency exchange that allows users to purchase, trade, borrow, and earn cryptocurrency.
Experienced cryptocurrency traders will find what they're searching for on CEX.IO, with its vast choice of tradable assets and comprehensive trading options. Beginners, on the other hand, may find the platform's numerous features daunting.
Let’s take a look at CEX.io taxes and how you can report them using a crypto tax reporting software.
Many countries across the globe, including the United States, see cryptocurrencies like bitcoin as property. Stocks, bonds, and real estate are examples of other types of property that you may be familiar with.
Cryptocurrencies are subject to capital gains and losses restrictions, just like other types of property, and you must record any profits, losses, and income from crypto holdings on your taxes.
Will CEX.io Provide me with Tax Forms?
Apart from CEX.io, crypto investors may use a number of crypto exchanges, crypto wallets, and other platforms. For instance, you might also trade on Kraken or make money with Celsius.
But there’s one problem with CEX.io's tax reporting. It is limited to the CEX.io platform itself. Also, it is unable to offer complete gains, losses, and income tax information if you have used external DeFi protocols, crypto wallets, exchanges, or different platforms apart from CEX.io.
Fortunately, there is another option for investors to appropriately submit their taxes. ZenLedger easily calculates your crypto taxes and also finds opportunities for you to save money and trade smarter. Let’s find out how to do your CEX.io taxes with the help of ZenLedger.
Connecting Your CEX.io To ZenLedger For Your Crypto Tax Forms
Within ZenLedger, on the Import Transactions page and Exchanges tab, select the Exchange you want to import. Then you'll see a table that outlines the possible methods. For many centralized exchanges, we support a direct API code import, while others may require a CSV import. Decentralized exchanges may require a wallet address.
To import your transactions from an exchange, simply navigate to the [Exchanges] tab of the [Imports] page. Select the exchange that you are looking to import, (CEX.io, in this case) and instructions will be provided for that specific exchange!
The Bottom Line
CEX.IO has evolved to become a regulated worldwide cryptocurrency exchange. It now provides a variety of crypto products and services to clients all around the world.
Due to the abundance of goods and services available, the exchange may be a little intimidating for first-time investors. On the other hand, the platform fulfills all of the crypto demands of experienced traders and investors.