How to do your BYDFi taxes in 2023
|Transaction type||File Import|
Introduction to BYDFi
BYDFi (previously Bityard) is a Singapore based cryptocurrency exchange serving customers in over 150 countries worldwide. In only three years BYDFi has amassed over 500,000 users. BYDFi offers a range of services such as crypto spot trading, derivatives trading, and a fiat gateway.
Do you need to pay taxes when using BYDFi?
Depending on the country you pay taxes in and the type of transactions you have made, you may need to pay taxes on your BYDFi crypto transactions. Both crypto to fiat and crypto to crypto trades are often seen as taxable events.
For more information regarding your country-specific crypto tax guidelines, please see Divly's crypto tax guides. These guides are regularly updated with input from our knowledgeable staff and local experts.
How to export your BYDFi transaction history
Currently the most practical method to export your trading activity is by downloading transaction history files from the BYDFi.
You can import transactions your transaction history into Divly using our drag and drop feature. Make sure to download the latest XLSX files from BYDFi every time you want to include the latest transactions.
Step by step guide:
Sign in to BYDFi.
Deposits: Navigate to Assets -> My Assets -> Funds History -> Deposit History. Select export and ensure to select dates that cover your entire deposit history on BitYard. Click the yellow Export button for your file to download.
Withdrawals: Navigate to Assets -> My Assets -> Funds History -> Deposit History. Select export and ensure to select dates that cover your entire withdrawal history on BitYard. Click the yellow Export button for your file to download.
Trades: Navigate to Orders -> Spot -> Trade History. Select export and ensure to select dates that cover your entire trading history on BitYard. Click the yellow Export button for your file to download.
In Divly, drag and drop all CSV files to where it says Upload CSV. Divly will import the transactions.
We have not currently encountered any common issues importing BYDFi deposits, withdrawals, or trades into Divly. If you have used the conversion feature or derivatives trading, you may need to import these transactions manually in the Divly interface.
Feel free to contact our support team if you require assistance importing your BYDFi transactions into Divly.
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.