Hotbit Taxes: How to Import Your Historical Data & Generate Your Tax Report
Hotbit was a Hong Kong-based crypto exchange that suspended operations in May 2023. Closing does not erase your tax obligations — every trade you made on the platform remains a taxable event. CoinTracking accepts your Hotbit CSV export, calculates gains and losses across your full trading history, and generates a tax report ready for your accountant or tax authority.
How to Import Your Hotbit Transactions into CoinTracking
Watch how to upload your Hotbit CSV export into CoinTracking and generate your complete crypto tax report — even for historical data from a closed exchange.
Start Your Free Hotbit Import- Every crypto trade, swap, and disposal on Hotbit is a taxable event in most jurisdictions. Capital gains tax and income tax may both apply — regardless of whether the exchange is still operating.
- CoinTracking imports Hotbit transactions via CSV export (manual upload). Upload your Hotbit CSV file to import your full historical trading data.
- Transferring crypto between your own wallets or accounts is not a taxable event. Buying and holding crypto is not taxable until disposal.
- Hotbit suspended operations in May 2023. You can still import historical data via CSV. Your tax obligations for trades made on Hotbit remain in effect — all gains, losses, and income must be declared for the relevant tax years. CoinTracking supports CSV import for historical Hotbit data.
Hotbit and Your Crypto Tax Obligations
Hotbit was a Hong Kong-based cryptocurrency exchange founded in 2018, offering spot trading across hundreds of crypto pairs including many smaller altcoins and new token listings. At its peak, Hotbit served millions of users worldwide before suspending operations in May 2023. The exchange cited ongoing legal proceedings involving an employee as the reason for its closure.
As a non-EU exchange operating out of Hong Kong, Hotbit was not subject to EU DAC8 reporting requirements. However, your personal tax obligations for trades executed on the platform remain fully in force. Tax authorities in most jurisdictions can assess back-taxes for unreported crypto gains, often going back several years.
CoinTracking supports Hotbit via CSV import:
- Hotbit CSV: upload your Hotbit trade history export to import all trades, deposits, and withdrawals
- All spot trades, disposals, and deposit/withdrawal history are supported
- Historical data from closed exchanges is fully compatible with CoinTracking\'s tax engine
- Generate back-tax reports for prior years if you have not yet declared your Hotbit activity
Crypto Tax Basics: What Hotbit Users Need to Know
Hotbit served traders across many jurisdictions worldwide. The core tax principles below apply broadly — but always verify the specifics with your local tax authority or a qualified tax advisor.
Every disposal is a taxable event
In most countries, selling, swapping, or otherwise disposing of cryptocurrency triggers capital gains tax. The gain or loss equals the difference between your proceeds and your cost basis (what you originally paid, including fees). This applies to each individual trade made on Hotbit — even historical ones from previous tax years.
Tax obligations survive exchange closure
The suspension of Hotbit in 2023 does not eliminate your tax obligations for trades made while the exchange was active. Tax authorities in most jurisdictions can assess back-taxes for unreported gains, often going back several years. If you have not yet declared your Hotbit trading history, you should file retroactively using your historical CSV data. CoinTracking can generate tax reports for any prior year from your imported data.
Record-keeping with CSV exports
Since Hotbit is no longer operational, your CSV export file is the primary record of your trading history. Every trade is documented with the date, asset, quantity, cost basis, proceeds, and fees. Importing this data into CoinTracking converts it into a structured tax report with a full audit trail, formatted for your jurisdiction.
Hotbit Taxes by Country
Hotbit served traders worldwide. Crypto tax rules differ by market — below are the key rates, deadlines and filing rules for the countries where CoinTracking users most commonly report their Hotbit history.
Germany
- Disposal tax: Personal income tax rate (up to 45%); gains are tax-free if held longer than 1 year (Haltefrist)
- Annual exemption: Gains up to €1,000/year are tax-free
- Cost basis: FIFO per wallet
- Authority: Finanzamt
- Forms: Anlage SO, Anlage KAP
United Kingdom
- Capital Gains Tax: 18% (basic rate) or 24% (higher rate) from October 2024
- Annual exempt amount: £3,000 (2024/25 onward)
- Cost basis: Section 104 pool (HMRC rules)
- Authority: HMRC
- Forms: Self Assessment SA100, SA108
Austria
- 27.5% capital gains tax: Since March 2022, crypto is taxed like shares — a flat 27.5% KESt applies to gains.
- Old coins grandfathered: Crypto acquired before 28 February 2021 is tax-free on disposal.
- Business income: Professional trading activity may be taxed as business income at progressive rates.
- Authority: Finanzamt Austria. Report via Einkommensteuererklärung (E1 / E1kv).
Switzerland
- Capital gains: Generally tax-free for private investors; professional traders are taxed as self-employed income
- Wealth tax: Crypto holdings subject to wealth tax at cantonal rates based on year-end market value
- Business trading: High-frequency or leveraged trading may be classified as professional activity and taxed accordingly
- Authority: Cantonal tax authority (varies by canton)
Spain
- Savings income (IRPF): 19% up to €6,000; 21% up to €50,000; 23% up to €200,000; 27% up to €300,000; 28% above
- Foreign crypto disclosure: Modelo 721 required if portfolio exceeds €50,000 abroad
- Authority: Agencia Tributaria (AEAT)
- Forms: Modelo 100 (IRPF), Modelo 721
Poland
- Flat rate: 19% on all crypto gains (no holding period exemption)
- Loss carryforward: Up to 5 years
- Cost basis: FIFO
- Authority: Urząd Skarbowy
- Form: PIT-38
Italy
- Flat rate: 26% on gains exceeding €2,000/year (from 2023)
- Foreign holdings disclosure: Quadro RW required if portfolio exceeds €15,000
- Authority: Agenzia delle Entrate
- Forms: Quadro RT (gains), Quadro RW (foreign holdings)
France
- Flat 30% tax (PFU): Gains from crypto disposals are subject to the prélèvement forfaitaire unique (PFU) — 12.8% income tax + 17.2% social charges.
- No exemption for holding period: Unlike Germany, there is no tax-free threshold after 1 year.
- Professional traders: High-frequency trading may be classified as BNC (non-commercial income) at progressive rates.
- Authority: Direction générale des Finances publiques (DGFiP). Declare via Formulaire 2086.
Portugal
- Disposal tax: 28% on gains from crypto held less than 1 year (from 2023)
- Long-term holding: Tax-free on disposal if held 1 year or longer
- Authority: Autoridade Tributária (AT)
- Forms: Modelo 3, Anexo G or Anexo J
Tax rules change frequently. This overview is for general information only and does not constitute tax advice. Consult a qualified advisor for your specific situation.
Are Hotbit Transactions Taxable?
In most jurisdictions, crypto is treated as an asset: disposing of it triggers capital gains tax. These rules apply to your historical Hotbit trading data — even after the exchange has closed. Use this as a starting reference — exact rules vary by country.
Taxable Events
- Selling crypto for fiat (USD, EUR, etc.)
- Swapping or trading crypto for crypto
- Using crypto to pay for goods or services
- Staking rewards and trading bonuses received
Not Taxable
- Buying and holding crypto
- Transferring crypto between your own accounts
- Depositing fiat to Hotbit
- Receiving crypto as a personal gift
Tax treatment varies by country. CoinTracking applies the rules for your selected jurisdiction automatically.
How to Calculate Your Hotbit Taxes
Even if Hotbit has closed, you still need to account for every trade you made on the platform. Hotbit was known for listing a large number of altcoins, which means many users accumulated hundreds or thousands of trades across numerous assets. Calculating cost basis, holding periods, and gains for each transaction — potentially spanning multiple years — is impractical without dedicated software.
CoinTracking imports your complete Hotbit trade history via CSV, applies your chosen cost-basis method (FIFO, LIFO, HIFO, and others), calculates gains and losses for every disposal, and produces a jurisdiction-specific tax report. Historical data from prior tax years is fully supported — you can generate back-tax reports for any year covered by your Hotbit CSV file.
The result is a tax report — PDF or Excel — that your accountant or tax authority will accept, with a full audit trail for every transaction.
How to Import Hotbit into CoinTracking
Three steps to upload your Hotbit CSV and generate your tax report.
- 1
Log into CoinTracking and open Imports
After logging in, click the Import icon in the left navigation. This is where you connect all your exchanges, wallets and blockchains.
- 2
Search for Hotbit in the import list
Type "Hotbit" in the search field. CoinTracking will show the Hotbit import option — select it to proceed with your CSV upload.
- 3
Upload your Hotbit CSV file
Upload your Hotbit trade history CSV export. CoinTracking will import all your historical trades, deposits, and withdrawals automatically and calculate your tax position.
"CoinTracking can handle just about any complex transaction you can throw at it and the automation is a real lifesaver. Of all the tax software tools we've reviewed, CoinTracking is the most detail-oriented and has more accuracy checks in place than the competition."
How to Create Your Hotbit
Tax Report with CoinTracking
Three steps from CSV upload to a tax report your accountant will accept.
Upload your Hotbit CSV
Download your Hotbit trade history CSV and upload it to CoinTracking via the Hotbit import. CoinTracking imports all historical trades, deposits, and withdrawals automatically.
Review your transactions
Open Reports → Validate Transactions. CoinTracking flags missing cost basis entries, duplicate imports and price gaps so your final report is accurate — essential for historical data from closed exchanges.
Generate and export your tax report
Select your country and tax year. CoinTracking generates a report formatted for your jurisdiction: PDF or Excel, ready to file or hand to your accountant.
No. Hotbit was a Hong Kong-based crypto exchange that suspended operations in May 2023. It did not generate a ready-to-file tax report. If you still have your Hotbit CSV export, you can import it into CoinTracking. CoinTracking then calculates gains, losses, and income across your full trading history and generates a compliant tax report for your jurisdiction.
You can still import your historical Hotbit trading data into CoinTracking using a CSV file. If you exported your trade history from Hotbit before it suspended operations, navigate to CoinTracking → Import Data → search for "Hotbit" and upload your CSV file. CoinTracking will parse all your historical trades, deposits, and withdrawals automatically. If you no longer have the CSV file, recovery may be limited since the exchange platform is no longer accessible.
Yes. Every sale, swap, or disposal of cryptocurrency through Hotbit is a taxable event in most jurisdictions. Capital gains tax applies to the difference between your cost basis and the proceeds at the time of each trade. Income received — such as staking rewards or referral bonuses — is also typically taxable. These obligations remain in force even now that Hotbit has closed: all transactions you made on the platform must still be declared for the relevant tax years.
Yes. The closure of Hotbit does not change your tax obligations for trades executed while the exchange was active. Tax authorities in most jurisdictions require you to report all crypto disposals for the relevant tax years, regardless of whether the exchange still operates. If you have not yet declared your Hotbit trading history, you should do so retroactively — CoinTracking can process historical CSV data to generate back-tax reports for past years.
Hotbit was a Hong Kong-based exchange and was not an EU-regulated CASP, so EU DAC8 reporting rules did not apply. However, depending on applicable regulations and any ongoing legal proceedings, user data may have been reported to relevant authorities. Regardless of any exchange-level reporting, you remain personally responsible for declaring your crypto gains, losses, and income from your Hotbit activity in your annual tax return.
The correct cost-basis method depends on your jurisdiction. In Germany, FIFO per wallet is the recognised method and gains are tax-free after a one-year holding period (Haltefrist). In the UK, HMRC's Section 104 pooling rule applies. In Australia, the ATO recommends FIFO or specific identification for private investors. CoinTracking supports FIFO, LIFO, HIFO, and other methods — you can switch between them and instantly recalculate your Hotbit tax report to find the most tax-efficient outcome for your situation.
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