How to calculate your BitMEX taxes

  • Automatic Sync
  • Recap CSV
1 min read
Last updated:
Sam Adams
Samantha Adams
Head of Content

Recap has a comprehensive integration with BitMEX that makes it easy to manage your crypto tax calculations. Sign up for Recap and link your BitMEX account to securely monitor each transaction, manage your cryptocurrency portfolio, and effortlessly automate your taxes.

*Disclaimer: The information provided in this content does not endorse BitMEX. Furthermore, it does not constitute tax advice. If you are uncertain about any financial or tax-related matters, we strongly recommend seeking guidance from a qualified tax professional. Additionally, you may utilise our accountant and professional advisor sharing features.

What is BitMEX?

BitMEX is a cryptocurrency exchange and derivative trading platform registered in the Seychelles. Founded in 2014, they offer perpetual contracts, futures contracts, and options contracts.

Here's a breakdown of what BitMEX offers:

  • Derivatives Trading: Provides trading of cryptocurrency derivatives, including perpetual contracts and futures, allowing users to speculate on the price movements of digital assets.
  • Leverage: Offers high leverage options (up to 100x on some contracts), enabling traders to amplify their gains or losses.
  • Advanced Trading Tools: Equipped with sophisticated trading tools and features, such as real-time market data, advanced charting, and various order types.

How to automate your BitMEX crypto taxes with Recap

You can make the process of calculating your taxes stress-free with our crypto tax software. Connect your BitMEX account to Recap, and our system will classify and value all transactions using our unique fair-market valuation engine and determine your tax liability.

bitmexAuto Sync with BitMEX

How are BitMEX Transactions Taxed?

Tax implications on your BitMEX transactions differ based on transaction types and your tax jurisdiction. Here are the tax guidelines for the different transaction types on BitMEX:

Transaction typeCGTIncomeTracked in Recap
Deposits
Withdrawals
Buying crypto with fiat
Crypto to crypto
Selling crypto for fiat
Earning staking rewards

Refer to our tax guides for a more detailed look at crypto tax rules.

Automate your BitMEX tax reporting - takes 5 mins.

  • 1

    Sign up to Recap

  • 2

    Set up auto sync with our step by step guide

  • 3

    Generate your tax report ready to self-file or share with your accountant

FAQs

Do I need to pay tax on my BitMEX transactions?

Yes, you may need to pay tax on your BitMEX transactions. Tax obligations vary depending on your country’s tax laws and the nature of your transactions. Common taxable events include selling cryptocurrency, trading between coins (crypto to crypto), and making purchases with crypto.

What is the benefit of using a crypto tax calculator?

A crypto tax calculator automates the process of calculating taxes on your cryptocurrency transactions, providing accurate tax liability figures and ensuring compliance with tax regulations without manual calculations.

Will my crypto in my BitMEX account be taxed?

No, crypto in your BitMEX account will not automatically be taxed, but if you have generated any taxable events, you may need to report and pay tax. To understand how crypto is taxed, take a look at our comprehensive tax guide.