How to do your Nexo taxes in 2022
Introduction to Nexo
Nexo was founded in April of 2017 by Antoni Trenchev, Georgi Shulev and Kosta Kantchev. Nexo is headquartered in Zug, Switzerland but has reached over 4 million users and over 200 jurisdictions around the world. They are focused on streamlining their product into an easy-to-use, efficient and secure product so that everyone can use it. Nexo is built upon the values of efficiency, transparency and inclusivity. Their products reflect this as they try to allow for their product to be used by anyone anywhere to grow their wealth.
Nexo has a unique rewards and loyalty system compared to other crypto exchanges. As their rewards come in a tier level system depending on how much of your wallet is made up of their own crypto token, NEXO tokens. The greater the amount of tokens you have lowers the interest rates on the loans you take out, increases it on the loans you make, and cashback. Other rewards can be earned by referring friends.
How to export your Nexo transaction history
File import
You can import transactions from Nexo 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.
Important
If you have taken loans through Nexo, please add these manually. Divly currently skips WithdrawalCredit, Repayment, Liquidation, and InterestAdditional transaction types.
Step by step guide:
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Sign in to Nexo.
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Navigate to the Transactions tab.
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Select the date range that spans your entire transaction history. Set the other options to All Types and All Assets.
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Click Export and the CSV file will download.
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Drag and drop the CSV file to where it says Upload CSV. Divly will import the transactions.
Common issues when calculating your Nexo taxes
- If you have been taking loans from Nexo, please add these manually in Divly.
If you have any issues with calculating your Nexo taxes, feel free to contact our support team which is available via the online chat on the bottom right hand corner 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.