Bitfinex is a centralised cryptocurrency exchange that provides a professional trading experience to its users. Trades can enjoy advanced charting tools, futures, indices and much more. There are also staking and lending programs on the platform too.
Here at Cryptiony, we have teamed up with Bitfinex to allow you to calculate your crypto taxes automatically.
Bitfinex is a leading trading platform that facilitates retail, professional and institutional-grade trading. The exchange offers over 200 cryptocurrencies and over 60 futures contracts. The platform also offers an affiliate program, lending and borrowing, and a payment gateway for vendors.
Due to the many transactions Bitfinex users carry, calculating their crypto taxes is challenging. You could do it yourself or use an accountant. But there are many issues you might come up against, such as lack of industry expertise or high cost and time consumption.
Instead, the best way to calculate your Bitfinex crypto taxes is via the Cryptiony automated tax calculation software.
To get started, you need to import your Bitfinex transactions to Cryptiony.
We suggest you import your Bitfinex transactions to Cryptiony via our integrated API. To get started, you need to generate your Bitfinex API keys.
Generate your Bitfinex API Keys
Log in to Bitfinex.
From the Bitfinex dashboard, hover over the profile icon, then click API Keys.
Select create new key and leave the read-only permissions unchanged.
Enter a label for the API key and select generate API.
Visit your email and confirm the API key creation, then save your API key and API secret for the Cryptiony integration.
Import your Transactions
Sign up for Cryptiony.
From the Cryptiony dashboard, click transactions, then add transactions.
Select Bitfinex, then integrate with the exchange API.
Input your Bitfinex API keys into Cryptiony.
Click integrate. Congratulations, you have imported your transactions.
Next, you can import transactions from a different exchange or head over to the Cryptiony taxes section to generate a report.
Although we recommend importing transactions via an API, there are circumstances you may need to import via a CSV file. In these instances, follow the instructions below.
How to download Bitfinex Transactions
Log into your Bitfinex account.
Hover over the user icon, then select reports.
Next, click the calendar, then choose a date range.
Confirm the dates, then click export.
Keep ledgers selected, then click export. Bitfinex will then send the CSV to your email.
How to upload Bitfinex transactions to Cryptiony
Log in to Cryptiony.
From the dashboard, select transactions, then add transactions.
Click integrate the exchange on the top right of the screen.
Select Bitfinex, then import the transaction file.
Select your Cryptiony transactions CSV files and hit import.
Transactions before 2022 must be imported as a CSV.
Double-check each transaction has been imported in the correct order. Sometimes Bitfinex makes errors in this regard. If any errors occur, you can use a CSV file to solve the issue.
Yes, on Bitinex, it is possible to withdraw your currency as crypto or fiat.
Bitfinex is a regulatory-compliant exchange requiring users to verify their identity to access the platform's full functionality.
Binance offers a broader selection of coins than Bitfinex, but Bitfinex provides better prices and more attentive customer support.
Tax evasion is a crime, and doing it could lead to prosecution. However, you can legally reduce your Bitfinex taxes by taking advantage of things such as tax allowances and HODLing (therefore, not initiating any taxable events).