BitPay is two products with very different tax shapes. There is a wallet, where you hold your own keys, and there is a payment service that businesses use to accept crypto.
There was also a card, and it ended in June 2023 when its issuing bank left crypto. A number of review sites still describe it as though it were available.
Both surviving products give you a proper export, which puts BitPay ahead of most services in this group.
What you get out of the box
Pick your import method.
In the BitPay wallet
- Open the wallet, go to Settings and select the wallet you want.
- Choose More Options, then Transaction History, then Export to file.
- Repeat for each wallet. The export covers one wallet at a time.
On Kryptos
- Log in to Kryptos.
- Go to Integrations.
- Click Add Integration, then search for and select BitPay.
- Click the BitPay icon and choose Upload CSV.
- Upload the file. Kryptos reads it and categorises the transactions for you.
Good to know
- The card was discontinued in June 2023 and has not been replaced, whatever some review sites say.
- The wallet keeps your keys on your own device, so BitPay does not hold your crypto.
- If you run a business that accepts crypto, the merchant side has its own export with the rate at settlement.
The card that ended in 2023, and why it matters anyway
BitPay's prepaid card stopped working in June 2023, when the bank issuing it left the crypto business. Funding ended on 1 June, spending ended on 15 June, and remaining balances were returned to holders. No replacement has launched since.
It is worth stating plainly because a number of sites carrying 2026 dates still review the card as a live product, complete with fees and rewards. If you go looking for it, you will find confident descriptions of something that does not exist. BitPay's own site now offers bill payments and gift cards instead, and its card page redirects to the homepage.
The reason it still matters is that anyone who used it before 2023 has that history to account for, and it works differently from every other crypto card.
On most crypto cards, including Wirex, the card spends directly from a crypto balance, so each purchase is a separate disposal. BitPay's worked the other way. You loaded the card by selling crypto, and that load was the disposal. After that the card held ordinary dollars, so buying things with it was a dollar transaction and not a further crypto event.
Getting this backwards is expensive in both directions. Treat every purchase as a crypto disposal and you invent hundreds of events that never happened. Miss the load and you skip the one disposal that did. For how disposals are treated where you file, see the USA crypto tax guide or the UK crypto tax guide.
Manage your BitPay portfolio with Kryptos.
Exporting a self-custody wallet
The wallet exports its history to a file, one wallet at a time, so multi-wallet users have several files to combine.
Running a business that accepts crypto
The merchant reports record what you received and the rate at which it settled, which is exactly what revenue recognition needs.
Sorting out old card activity
The card worked differently from most crypto cards, and getting it right avoids double-counting.
Audit-ready, automatically.
Once your wallets and exchanges are connected, generating a tax report takes a single click. Open Reports from the menu, choose your jurisdiction, and download.
The old card worked backwards from most
Loading the BitPay card was the disposal: crypto was sold at that point. Once loaded, the card held ordinary dollars, so spending it afterwards was not a further crypto disposal. That is the opposite of cards that spend directly from a crypto balance, and confusing the two double-counts everything.
Business receipts are revenue at the value received
Crypto received for an invoice is revenue at its value when it arrived, and that value becomes its cost. Settling to currency afterwards is a separate disposal against that cost.
Spending crypto on bills or gift cards is a disposal
Paying a bill or buying a gift card with crypto sells it at that moment, the same as any other purchase.
The wallet is self-custody, so nothing is held for you
There is no BitPay balance to reconcile. What the wallet shows is your own on-chain activity.
Read-only by design.
- A file upload is read-only. Nothing connects to your account
- Kryptos never asks for your password or login details
- Delete an import at any time and its data goes with it
- Keep the original file: it is your evidence if anyone asks later
If something doesn't sync.
The card programme ended in June 2023 and has not returned. Some review sites still describe it as available; they are out of date.
That is how it works. Export each wallet separately and combine the files.
The merchant ledger records the rate at which funds were received, which is what you need for revenue and cost.
Still stuck? Email support@kryptos.io or open live chat from the app.