BTCC has been running since 2011 and now focuses on derivatives. Its own page describes it as a leveraged futures exchange.
It offers contracts in two flavours, and the difference matters more for tax than for trading. Some settle in a stablecoin. Others settle in bitcoin or ether.
The second kind makes every funding payment and every settlement a disposal of crypto in its own right, which is considerably harder to account for.
What you get out of the box
Elige tu método de importación.
On BTCC
- Open the help centre section for downloading fund history and transaction reports.
- Download your records for spot and for futures separately. They are produced as different reports.
- Where you use an API key instead, give it read permission only.
On Kryptos
- Go to Kryptos.io and sign up with your Google account.
- From the menu, click Integrations.
- Click Add Integration and search for BTCC.
- Choose Import using API Keys, paste your key and secret, then click Import Your Transactions.
- To pull a specific date range instead of everything, open Advanced Options before importing.
Good to know
- Coin-margined contracts settle in the coin, so funding and profit arrive as crypto rather than as a stablecoin.
- Leverage here goes very high, which makes liquidation an ordinary outcome rather than a rare one.
- Copy trading executes in your own account, so the resulting trades are yours even though somebody else chose them.
Why coin-settled contracts are so much harder
Most derivatives venues settle everything in a dollar-pegged stablecoin. BTCC offers that, and also offers contracts settled in bitcoin or ether, which is where the accounting gets difficult.
Take a stablecoin-settled position first. You make a profit, you receive dollars-worth of a stable token. You pay funding, dollars-worth leaves. The amounts move in and out but the asset itself barely changes value, so the accounting is close to cash and each entry is uninteresting on its own.
Now settle the same position in bitcoin. Your profit arrives as bitcoin, at whatever bitcoin was worth that moment, which is an acquisition with its own cost. Your funding payments leave as bitcoin, each one a disposal of bitcoin at that moment, measured against whatever you originally paid for the coins being used.
So a single position held for a few weeks can generate dozens of small crypto disposals and acquisitions, each at a different price, on top of the profit or loss on the trade itself. The trading result and the settlement asset both move, and they move independently.
This is genuinely one of the harder things in crypto tax and almost nobody writes about it. It is not a reason to avoid coin-settled contracts, but it is a reason not to assume the accounting works the same way as the stablecoin version. For how disposals are treated where you file, see the USA crypto tax guide or the UK crypto tax guide.
Gestiona tu portafolio de BTCC con Kryptos.
Trading coin-settled contracts
Profit, loss and funding all arrive in the coin rather than in a stablecoin, so each settlement is a disposal of crypto at that moment.
Following somebody else's trades
Copy trading places real trades in your own account. They are your disposals even though you did not pick them.
Recording a liquidation
A liquidation is a sale you did not choose to make. When a position is closed against you, the assets are disposed of at whatever price the market gave, and the gain or loss is as real as any trade you placed deliberately. It is the most commonly missed event on any venue offering leverage.
Listo para auditoría, automáticamente.
Una vez conectadas tus wallets y exchanges, generar un reporte fiscal es cuestión de un clic. Abre Reportes desde el menú, elige tu jurisdicción y descarga.
Coin-settled contracts dispose of crypto constantly
When a contract settles in bitcoin rather than a stablecoin, every funding payment and every settlement moves actual crypto in or out of your balance. Each of those is a disposal or an acquisition at that day's price, which is far messier than the stablecoin case where the amounts are effectively cash.
Liquidations are disposals you did not choose
A liquidation is a sale you did not choose to make. When a position is closed against you, the assets are disposed of at whatever price the market gave, and the gain or loss is as real as any trade you placed deliberately. It is the most commonly missed event on any venue offering leverage.
Copy trading produces your own disposals
The trades execute in your account under your ownership. That somebody else decided them does not move the tax consequence to them.
Yield products pay income
Interest-style returns are income when received, whatever rate is advertised.
Very high leverage changes the odds, not the rules
Trading at extreme leverage makes liquidation likely rather than exceptional, so the forced disposals are a regular feature of the account rather than an edge case.
Solo lectura por diseño.
- Create the key with read permission only, never withdrawal
- A read-only key can see your history but can't move funds
- Kryptos never asks for your password or login details
- Revoke the key on the exchange at any time and the connection stops
Si algo no sincroniza.
That is a coin-settled contract. Funding and profit arrive in the coin, so each is a disposal or acquisition of crypto.
They are produced as different reports. Download both.
If you use copy trading, trades execute automatically in your account. They are still your disposals.
¿Sigues atascado? Escribe a support@kryptos.io o abre el chat en vivo desde la aplicación.