How to do your Binance taxes in 2025

What is Binance?

Binance, established in 2017, quickly ascended to prominence in the cryptocurrency world. It's renowned for being one of the largest and most versatile crypto exchanges globally, offering a wide array of services to users. These services include cryptocurrency trading, digital wallet facilities, and a platform for trading various digital assets.

Does Binance have taxes?

Yes, trading on Binance will for most people trigger taxable events that need to be declared. Binance offers a wide range of crypto services that have different tax consequences and reporting requirements.

There are too many transaction types and countries to cover in this guide, so please check with your specific country's guide on Divly or contact your tax authority for specific questions.

Does Binance report earnings?

Yes it is likely that Binance reports customers crypto activity to select tax authorities. For EU citizens this will become a certainty starting 1st January 2026 due to the new directive called DAC8. Other tax authorities like the HMRC are adopting similar standards that require crypto exchanges to report customer data.

Step 1: How to export your history from Binance

If you are planning to declare you crypto taxes, the first step required is to export your transaction history. Binance allows customers to export data via their API or by downloading a CSV file. We strongly recommend downloading the CSV file as our experience has shown that it is more complete and accurate.

Automatic import

You can import transactions from Binance into Divly by using our API integration. After you have provided the API keys, Divly will be able to fetch your latest transactions anytime you click "Import Transactions" in the wallet page.

1. Sign in to Binance.

2. Navigate to the API Management page.

3. Click the Create Tax Report API button.

4. Pass the security verification by providing your phone and email verification codes.

5. Copy the API Key and API Secret into Divly.

File import

You can import transactions from Binance into Divly by downloading and importing a CSV file. Make sure to download the CSV file every time you want to include the latest transactions.

1. Sign in to Binance.

2. In the navigation bar at the top click on the Wallet icon and select Transaction History from the dropdown.

3. In the top right click on the Export icon and select Export Transaction Records from the dropdown.

4. Select the time frame for which you would like to download your transaction history and make sure All is selected under Account and Coin. You can then click on the button Generate. Binance will start generating a statement. This may take some time and you will be notified by email when it is ready.

5. Repeat the above process until you have created statements for all your transaction history on Binance. Each file can contain up to 1 year of transactions.

6. Unzip the file if it is in a tar.gz or zip file. If it is in a .tar format and you're unable to unzip it, consider using a free third-party service like Createzip. Please note that we have no affiliation with Createzip. Please use third party services at your own discretion.

7. In Divly, drag and drop the CSV files to where it says Upload CSV. Divly will import the transactions.

If you can't find the right file using the above instructions, feel free to follow the instructions provided by the images below:

Step 2: How to calculate your crypto taxes

Once you have downloaded your transaction history, you will need to calculate your taxes and submit it in a format accepted by your tax authority. To be able to do this you have three options.

• Calculate your taxes in Excel

• Use a tax platform like Divly to automate the calculations for a small cost.

• Pay a tax lawyer by the hour to do it for you.

Each option has its pro's and con's and you will need to decide what price point and expertise you require. Each country has differing tax rules and difficulty levels associated with declaring taxes. This will affect your choice.

Step 3: How to declare crypto to your tax authority

Once you have finalized your calculations, you need to submit the numbers in a format accepted by your local tax authority. Formats and files differ between countries.

If you have used Divly, simply download your automated and localized tax report and follow the instructions provided in the file. It will lay out exactly where and what needs to be declared to your specific tax authority based on the country you selected when creating your account.

If you have any questions about declaring your Binance taxes feel free to reach out to our knowledgable support team by clicking on the chat icon in the bottom right of our website. Good luck!

Any tax-related information provided by us is not tax advice, financial advice, accounting advice, or legal advice and cannot be used by you or any other party for the purpose of avoiding tax penalties. You should seek the advice of a tax professional regarding your particular circumstances. We make no claims, promises, or warranties about the accuracy of the information provided herein. Everything included herein is our opinion and not a statement of fact. This article may contain affiliate links.