How can you import crypto trades from unsupported exchanges to BearTax and be done with the tax calculations?
We remember the time when BearTax had only a handful of exchanges. And now we support more than 50 exchanges. This did not happen suddenly and there was a lot of work that went into this module.
Our exchange support roll out process usually follows the below steps:
- starts with our customers posting questions about an exchange,
- Aggregate the exchange frequency from all the communication channels to rank them.
- Calcualte the weighted rank based on the upcoming tax season for the list of countries we support.
- Development process for the Exchange.
It is common for us, cryptocurrency traders, to trade on multiple exchanges to get access to several coins depending on their fundamental analysis or volatility or various other factors.
If you have traded on multiple exchanges, consolidation is a pain when calculating taxes. To help with this, there is software like BearTax to help you import crypto trades seamlessly from every possible exchange.
In a remote case, if an exchange is not supported on our platform, there is another way you can import your trades from unsupported exchanges.
Scroll down to learn how…
Ways to import crypto trades from unsupported exchanges to BearTax
We provide two ways to import your trades from unsupported exchanges.
1. Manual Import
One is to manually import crypto trades using a simple form where you specify your transaction details in plain English. There’s another helpful way if you have a bunch of trades to be imported and can’t be added individually. Here, you can use a generic file that we provide in a certain format and upload it to BearTax.
2. Generic File Upload
- Download the sample file.
- Add your trades using the sample entries provided in the file.
- Remove the sample entries.
- Make sure the date formats are DD-MM-YYYY HH
- Save it and upload it on to the same popup.
As soon as you drag and drop on upload the file, those entries will be processed and shown to you on the popup window. Go through them and when you are sure about the transactions in the list, click the “Confirm Transactions” button.
All your transactions will be available in the list of uploaded transactions. Here’s a detailed guide on how to view the list of uploaded transactions.