Recap has a comprehensive integration with Binance Futures that makes it easy to manage your crypto tax calculations. Sign up for Recap and link your Binance Futures 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 Binance Futures. 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 Binance Futures?
Binance is the largest crypto exchange by trade volume and allows investors to buy and trade a wide range of crypto assets including Bitcoin, Ethereum and NFTs.
Binance Futures is a trading platform offered by Binance, one of the world's largest cryptocurrency exchanges, that allows users to trade cryptocurrency futures contracts.
Here's a breakdown of what Binance Futures offers:
- Futures Contracts: Enables trading of futures contracts for various cryptocurrencies, allowing users to speculate on the future price movements of digital assets.
- Leverage: Provides high leverage options (up to 125x on some contracts), enabling traders to amplify their gains or losses.
- Advanced Trading Tools: Offers a suite of advanced trading tools, including real-time charting, technical indicators, and various order types to support sophisticated trading strategies.
- Educational Resources: Offers educational materials and resources to help users understand futures trading and develop their trading skills.
How to automate your Binance Futures crypto taxes with Recap
You can make the process of calculating your taxes stress-free with our crypto tax software. Connect your Binance Futures 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 Binance Futures How are Binance Futures Transactions Taxed?
Tax implications on your Binance Futures transactions differ based on transaction types and your tax jurisdiction. Here are the tax guidelines for the different transaction types on Binance Futures:
| 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.
