Crypto tax for HitBTC trader

Tax calculation and portfolio tracking for cryptocurrencies

Functions of the crypto app Blockpit

What advantages does Blockpit offer HitBTC trader?
Portfolio Management
Downloadable tax report
Automatic import

About the cryptocurrency exchange HitBTC

Fees, security, functions & cryptocurrencies for HitBTC

The HitBTC cryptocurrency exchange was founded in 2013. In 2015 the exchange was even registered by the Financial Supervisory Authority in Great Britain. At HitBTC, users can trade the most popular cryptocurrencies such as Bitcoin, Ethereum & Co and use both US dollars, British pounds and Euros as fiat currencies. Especially for beginners the crypto exchange can be interesting, because HitBTC offers a demo trading. This leads to the conclusion that HitbBTC attaches great importance to addressing even beginners. The exchange does not only offer its services to private traders, but also to traders and institutions.

Security at HitBTC

Security is a top priority at HitBTC. All trading activities are logged and a two-factor authentication exists. Among other things a Cold-Wallet is used. This is a digital exchange outside the trading platform in which most of the existing crypto coins are stored. The cryptos for the current trade are stored on the website in a hot wallet. If a hacker attack were to occur, in the worst case only the hot wallet would be attacked.

Fees at HitBTC

There are fees per transaction and these depend on the assets used or the trading volume of the last 30 days and on purchases or sales. A principle with Kraken is that the higher the assets used, the lower the fees to be paid. In summary, Kraken’s payout and deposit fees are very low compared to other crypto exchanges. However, operators charge higher transaction fees.

HitBTC vs. Coinbase vs.Kraken vs. Bitfinex vs. eToro

Especially crypto beginners are faced with a question at the beginning: Which exchange should I use? When making this decision, it is particularly important to get an overview of the various functionalities. Exchanges are, for example: HitBTC vs. Kraken, HitBTC vs. Coinbase, HitBTC vs. KuCoin, HitBTC vs. Bitfinex, HitBTC vs. Binance and many more.

HitBTC Review & Experience

It should be noted that HitBTC charges low trading fees. The Exchange is a comprehensive trading platform where Altcoins can also be traded. There is also no minimum deposit required. Unfortunately, there is only a limited number of cryptocurrencies.

How do I get my HitBTC API key?

Easy import of your transactions via API import from HitBTC
  1. Login into your HitBTC account and go to “Settings”
  2. Click on API Key
  3. Enable both checkboxes “Order book, History, Trading balance” and “Payment information”
  4. Enter your key and your secret at Blockpit. You’re all set now!
  5. Find more information in our Help Center.

Enter crypto taxes from HitBTC

How do I enter my HitBTC trades in my tax return?

Cryptocurrencies and taxes on Bitcoin are a complex issue. Unfortunately, there is hardly any information collected. HitBTC traders and owners of cryptocurrencies know that they have to pay taxes on Bitcoin & Co. A crypto tax tool that offers tax reporting & portfolio management around cryptocurrencies is Blockpit. Use Blockpit’s webapp or mobile app to track your crypto portfolio development in real time and to monitor realized and unrealized gains/losses. The advantage of Blockpit’s crypto control software is that transactions are automatically synchronized via API access. Benefit from smart error handling. Our software helps HitBTC traders and other cryptocurrency owners to ensure complete documentation of their crypto trades.
In addition to the webapp, our users can also keep an eye on their portfolio on the go, thanks to the mobile app for Android and iOS.

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