Recap has a comprehensive integration with Poloniex that makes it easy to manage your crypto tax calculations. Sign up for Recap and link your Poloniex 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 Poloniex. 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 Poloniex?
Poloniex is a cryptocurrency exchange that allows spot, margin and derivatives markets along with staking and automated grid trading.
Here's a breakdown of what Poloniex offers:
- Cryptocurrency Trading: Facilitates trading of a wide range of cryptocurrencies, including Bitcoin, Ethereum, and numerous altcoins.
- Spot and Margin Trading: Provides both spot trading for immediate transactions and margin trading for those looking to leverage their positions.
- Lending Services: Allows users to lend their digital assets to other traders and earn interest.
- Advanced Trading Tools: Offers advanced charting tools, order types, and real-time market data to support sophisticated trading strategies.
How to automate your Poloniex crypto taxes with Recap
You can make the process of calculating your taxes stress-free with our crypto tax software. Connect your Poloniex account to Recap, and our system will classify and value all transactions using our unique fair-market valuation engine and determine your tax liability.
Auto Sync with Poloniex How are Poloniex Transactions Taxed?
Tax implications on your Poloniex transactions differ based on transaction types and your tax jurisdiction. Here are the tax guidelines for the different transaction types on Poloniex:
| Transaction type | CGT | Income | Tracked 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.
