01Functions of the Bitcoin tax calculator
Calculation methods, API import, portfolio development & co.
Do profits from trading in cryptocurrencies such as Bitcoin, Ethereum, Ripple & co. have to be taxed?
Private individuals are obliged to pay tax on profits from trading in cryptocurrencies if these are held for less than one year. Different tax regulations or the own progressive income tax rate apply depending on the type and amount of income. In principle, income from mining, trading, master nodes, airdrops etc. is taxable with a few exceptions.
Here you will find information on the taxation of Bitcoin in Germany, Austria and Switzerland.
What is the tax on cryptocurrencies?
Currently, there is no uniform approach to crypto tax regulations. Therefore, each country is acting according to its own ideas when it comes to collecting taxes on cryptocurrencies. This makes it quite impossible to keep up to date about regulatory changes worldwide. For this reason, an interactive map for cryptographic taxes was developed, which provides country-specific information on tax law to give an overview for the global crypto community. Click here for the map.
Are there crypto trades that remain tax-free?
In Austria & Germany, cryptocurrencies are generally subject to an observation period of one year if they are bought and sold as private assets. If you buy and sell within this year, the capital gain is taxable. If the cryptocurrencies are held longer than one year after the purchase and are only sold afterwards, the tax liability does not apply.
What is the tax exemption limit for Bitcoin, Ether, Dash and co.?
Germany: If a disposal transaction is carried out within a one-year holding period, an exemption limit of EUR 600 p.a. applies. However, it should be noted that the exemption limit applies to all private sales transactions in the relevant year and does not only apply to the taxpayer's income from crypto transactions.
Austria: Income from speculative transactions currently remains tax-free in Austria if it does not exceed EUR 440 in the calendar year.
Switzerland: In principle, each canton publishes its own regulations regarding cryptocurrencies and taxes. The tax rates vary from canton to canton. At the cantonal tax level, the cantons are free to set their own tax rates. Detailed information on the taxation of digital currencies in the cantons of Zurich, Berne, Lucerne, Zug and Basel can be found in our free crypto tax guide with over 50 pages.
Do crypto revenues have to be declared below the exemption limit?
Income below the exemption limit does not have to be declared in large parts of Austria, Germany and Switzerland. However, it is advisable to record these transactions anyway in order to be able to present them to banks as proof of origin.
Do I have to pay taxes on the swap from crypto to crypto?
Yes, taxes are payable on the swap from one cryptocurrency to another within the year if the selling price rises. Even an exchange into a stablecoin such as Tether is a tax-relevant process that needs to be documented.
02Crypto Tax Tool
Tax report & portfolio management for cryptocurrencies
Thanks to the Blockpit cryptocurrency software you can find out if taxes are due on your trades. Track your crypto portfolio development in real time and keep track of realized gains/losses. In addition to CSV import, transactions can also be automatically synchronized via API access. Smart error handling helps with error troubleshooting. Our software helps cryptocurrency owners to ensure complete documentation of their crypto trades. In addition to the webapp, you can also keep an eye on your portfolio on the go, thanks to the free mobile appfor Android and iOS.