Wallets are repositories for all your addresses.
A wallet can contain one or multiple addresses, and in order to provide a comprehensive report, you would need to export all your public addresses from your wallets and paste them into the designated pane in the “New Public Keys” screen.
Please take care to NOT provide your private keys.
There are three ways to share your Address(es) with us:
1. Upload your XPUB (Recommended)
2. Manually Upload your personal Address(es).
3. Upload TXIDs and manually label the address(es) at the “My Transactions” screen.
If you choose to use TXIDs you will have to manually complete the data in our system. Identifying addresses on the blockchain can be tricky, so manual completion is is only recommended in cases of exchange to exchange transactions. To avoid complications and provide the most accurate results, we recommend using xPUBs or manually uploading your Addresses.
An address given to you by an exchange to deposit funds is not a personal address.
Public Addresses VS. Master Public Addresses (xPub)
Public Address – every wallet stores a separate log of all of your incoming and outgoing transactions. Every transaction linked to your wallet will be stored to give users an overview of their full activity. Most wallets would allow users to access and export the information as a CSV file that contains all used public addresses.
In order to import the information to Bittax, please copy all relevant addresses and paste them into the designated pane. It is important to note that some cryptocurrencies work in such a model that generates change addresses and requires you to distinguish between the different addresses which might be an opening for mistakes.
Master Public Address (xPub) – HD Wallets, or Hierarchical Deterministic wallets, can generate an unlimited number of addresses using a single master seed. Each wallet has a master public key (xPub) that would give access to all the public addresses related to a specific wallet.
IMPORTANT: IRS Circular 230 Disclosure
Any tax-related information contained in this Site, the Services, or any deliverables thereof, is not tax advice, and not intended or written to be used or be relied upon, and cannot be used or relied upon, by you or any taxpayer for the purpose of avoiding penalties imposed under the United States Internal Revenue Code or any other applicable law or for promoting, marketing, or recommending to another person any transaction or matter addressed herein or to provide tax advice or any tax-related matter. You should seek the advice of a tax professional regarding your particular circumstances notwithstanding the use of our Site, Services or any deliverables thereof.
Bittax makes no claims, promises, or warranties about the accuracy of the information provided herein. Tax advice cannot be provided on a general basis and must be specifically tailored for each individual by his or her representative. Everything included in this Site, the Services, or any deliverables thereof, is nothing more than our opinion and is not, and should not be relied upon as, a statement of fact.
YOU ACKNOWLEDGE AND AGREE THAT NOTHING IN THE SITE, THE SERVICES, OR ANY DELIVERABLES THEREOF, NOR ANY INFORMATION CONTAINED THEREIN, ARE INTENDED, OR SHOULD BE RELIED UPON, TO REPLACE INDIVIDUAL TAX ADVICE, TO MEET THE TAX AUTHORITIES POSITIONS OR REQUIREMENTS, TO GUARANTEE AN ACCURATE OR TRUE TAX OBLIGATION, TO BE APPROVED OR ACCEPTED BY THE TAX AUTHORITIES, OR IN ANY WAY TO OBLIGATE THE TAX AUTHORITIES.