How To Do Your OKEX Exchange Taxes?
OKex Exchange, situated in Belize and founded in 2014 by Star XU, is a crypto and digital asset exchange. The business, whose activities are centered in Hong Kong, has substantial funding support. The OKex exchange provides both fiat to cryptocurrency trading and the typical crypto-to-crypto trading seen on cryptocurrency exchanges. Sadly, at this stage, only the Chinese Yuan is accepted. However, with the continual addition of new alternatives, the exchange offers well over a hundred coins and tokens.
Let us take a look at how you can get your OKEX tax report with the help of crypto software.
The OKEX Tax Report Exchange
The United States is one of several nations that consider cryptos such as bitcoin to be property. Other forms of the property include stocks, bonds, and real estate, which you may be familiar with.
Similar to other forms of property, cryptocurrencies are subject to limits on capital gains or losses, and you must report any revenues, losses, and earnings from crypto assets on your taxes.
Will OKEX Exchange Provide me with a Tax Report?
Nearly all cryptocurrency exchanges follow identical tax reporting standards to OKEX.
Owing to the peer-to-peer nature of cryptocurrencies, investors generally shift their assets to different exchanges and wallets. However, exchanges are unable to provide correct tax reporting since they do not have access to consumer transactions that take place between platforms. The same is true for OKEX.
Fortunately, there is another option for investors to appropriately submit their taxes. ZenLedger easily calculates your OKEX taxes and also finds opportunities for you to save money and trade smarter. Let’s find out how to do your OKEX taxes with the help of ZenLedger.
Connecting Your OKEX Exchange To ZenLedger For Your Crypto Tax Report
As one of the most comprehensive cryptocurrency tax software options on the market, we have import instructions for well over 400+ exchanges.
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, (OKEX Exchange, in this case) and instructions will be provided for that specific exchange!
The Bottom Line
The well-funded exchange OKex has big aspirations for the world market. Apart from the fact that it only supports CNY at the moment and that some of its services have mixed reviews, here’s why the OKEX exchange is a great option to consider:
- A wide variety of professional trading choices, including futures
- Support for fiat and cryptocurrencies
- A platform for high-level trading
- Trading with leverage
- Support for a wide variety of 100+ coins
- Affordable fees