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2026-03-12

How Investing vs Trading impacts tax

In most cases of buying and selling cryptocurrency as a retail investor, you are participating in investing rather than trading. The two are treated differently for tax purposes.

  • Investing is subject to capital gains tax or income tax, depending on the nature of the transaction.
  • Trading in this case refers to self-employment which is subject to income tax and National Insurance Contributions.

The key difference between investing and trading – along with the different tax treatments, is how losses generated in the crypto-activity can be used.

In their guidance, HMRC have explicitly stated that they would expect it to be exceedingly rare that any crypto-activity constituting buying & selling crypto would be classified as “trading”.

If you are uncertain, speak to a tax advisor as there are always exceptions, including but not limited to, developing tokens and large scale mining.

How is crypto tax calculated in the United States?

You can be liable for both capital gains and income tax depending on the type of cryptocurrency transaction, and your individual circumstances. For example, you might need to pay capital gains on profits from buying and selling cryptocurrency, or pay income tax on interest earned when holding crypto.

CoinLedger

CoinLedger is an accessible crypto tax platform with over 1,000 exchange and wallet integrations.

Best for: Users who want a simple, straightforward experience without complex DeFi needs.

Key differentiator: Offers an unlimited transaction plan for high-volume traders at a fixed price.

Pricing: $49 (100 transactions) to $499+ (10,000+ transactions).

Limitation: Does not generate Schedule D forms - you will need to complete this manually or with other software.

Notable: Strong NFT support with OpenSea integration.

CoinTracker

CoinTracker is a portfolio tracker and tax calculator supporting over 30,000 cryptocurrencies.

Best for: Users who prioritize portfolio tracking alongside tax reporting.

Key differentiator: Direct integrations with TurboTax and H&R Block Desktop.

Pricing: $59 (100 transactions) to $599 (10,000 transactions), with full-service options up to $3,499.

Limitation: Customer support is limited on lower-tier plans - priority support requires the $599 Ultra plan.

Notable: Good security with end-to-end encryption and SOC 2 compliance.

ZenLedger

ZenLedger offers both DIY crypto tax reports and professional full-service accounting.

Best for: Users who want tax loss harvesting included at every pricing tier.

Key differentiator: Tax loss harvesting is available on all plans, not just premium tiers.

Pricing: $49 (100 transactions) to $399 (15,000 transactions).

Limitation: Only offers 400+ exchange integrations - significantly fewer than competitors. Some users report customer support issues with long wait times.

Notable: TurboTax integration and 14-day refund policy.

blog
Mar 12
,
 
2026
 - 
10
min read

Product Update: Kalshi, MegaETH, CoinRabbit, Bittensor, and WhiteBIT support now live

Summ now supports Kalshi, MegaETH, CoinRabbit, and WhiteBIT. Import your prediction market trades, Layer 2 transactions, lending activity, and exchange data for complete tax reporting.

Key takeaways
This tax guide is regularly updated: Last Update  

If you were gazing into your crystal ball last week, betting on who would win the Oscar for Best Director, picking a Survivor winner, or guessing the lowest temperature in New York City today, chances are you were doing it on Kalshi.

Good news. Here's your next win: Summ now supports Kalshi.

We've also added support for MegaETH, Bittensor, CoinRabbit (as a new Summ partner), and WhiteBIT. If you're active on any of these platforms, your transactions now import directly into your Summ tax reports.

Kalshi support added

Kalshi is a CFTC-regulated prediction market where you buy and sell contracts on real-world outcomes: sports, politics, economics, weather, culture. It's one of the fastest-growing platforms in finance right now, with trading volumes that have surged over the past year and availability in 140+ countries worldwide though some jurisdictions (including Australia and the UK) are restricted at the time of writing.

How to connect Kalshi to Summ:

  • API: Connect your Kalshi account via API to import your trade transactions automatically.
  • CSV: Download your transaction history from Kalshi and upload it directly into Summ.

Whether you made money predicting interest rate moves or lost a few bucks on a bold  Bitcoin price call, those trades have tax implications. Summ calculates your gains and losses across all of your Kalshi activity so you know exactly where you stand.

MegaETH support

Now here's some BIG news worth celebrating (see what we did there?).

MegaETH is an Ethereum Layer 2 blockchain built for real-time performance, targeting over 100,000 transactions per second with millisecond-level block times. If you're transacting on MegaETH, we now support two import methods:

  • Wallet address: Paste your public wallet address in the integrations section. Your transaction history pulls in automatically.
  • CSV upload: Download your transaction data from MegaETH and upload it directly into Summ.

Either method gives you full transaction coverage for accurate tax reporting.

CoinRabbit support

We've partnered with CoinRabbit, a crypto asset management platform that offers lending, swapping, earning, and trading across 400+ digital assets. If you're borrowing against your crypto or earning yield on CoinRabbit, those transactions can now flow into your Summ tax reports.

Summ supports CSV imports covering CoinRabbit's Dashboard, Loans, Savings, Exchange, Referral, and Transactions History exports. Download your CSVs from CoinRabbit and upload them into Summ. Step-by-step instructions are available in the app.

CoinRabbit users also get 25% off their first year with Summ.

Bittensor support

Bittensor is a decentralized blockchain network that creates an open marketplace for AI and machine learning models. Participants contribute compute, data, and AI services across specialized subnets and earn TAO, the network's native token. Summ covers TAO transfers (deposits and withdrawals), staking activity, and network fees.

Connect via API or upload your CSV to import your Bittensor activity

WhiteBIT support

WhiteBIT is one of the largest European crypto exchanges, offering spot trading, futures, margin, and staking. If you're trading on WhiteBIT, connect via API or upload your CSV to bring your full trading history into Summ.

Getting started

More integrations means more complete data. When your transactions import automatically across all of the platforms you use, you spend less time chasing down CSVs and more time understanding your actual tax position.

All five integrations are live now. Log in or sign up to connect your accounts and see the tax impact of your trades.

The information provided on this website is general in nature and is not tax, accounting or legal advice. It has been prepared without taking into account your objectives, financial situation or needs. Before acting on this information, you should consider the appropriateness of the information having regard to your own objectives, financial situation and needs and seek professional advice. Summ (formerly Crypto Tax Calculator) disclaims all and any guarantees, undertakings and warranties, expressed or implied, and is not liable for any loss or damage whatsoever (including human or computer error, negligent or otherwise, or incidental or Consequential Loss or damage) arising out of, or in connection with, any use or reliance on the information or advice in this website. The user must accept sole responsibility associated with the use of the material on this site, irrespective of the purpose for which such use or results are applied. The information in this website is no substitute for specialist advice.

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Product Update: Kalshi, MegaETH, CoinRabbit, Bittensor, and WhiteBIT support now live

Summ now supports Kalshi, MegaETH, CoinRabbit, and WhiteBIT. Import your prediction market trades, Layer 2 transactions, lending activity, and exchange data for complete tax reporting.

Team Summ

This tax guide is regularly updated: Last Update 

....

March

12

2026

If you were gazing into your crystal ball last week, betting on who would win the Oscar for Best Director, picking a Survivor winner, or guessing the lowest temperature in New York City today, chances are you were doing it on Kalshi.

Good news. Here's your next win: Summ now supports Kalshi.

We've also added support for MegaETH, Bittensor, CoinRabbit (as a new Summ partner), and WhiteBIT. If you're active on any of these platforms, your transactions now import directly into your Summ tax reports.

Kalshi support added

Kalshi is a CFTC-regulated prediction market where you buy and sell contracts on real-world outcomes: sports, politics, economics, weather, culture. It's one of the fastest-growing platforms in finance right now, with trading volumes that have surged over the past year and availability in 140+ countries worldwide though some jurisdictions (including Australia and the UK) are restricted at the time of writing.

How to connect Kalshi to Summ:

  • API: Connect your Kalshi account via API to import your trade transactions automatically.
  • CSV: Download your transaction history from Kalshi and upload it directly into Summ.

Whether you made money predicting interest rate moves or lost a few bucks on a bold  Bitcoin price call, those trades have tax implications. Summ calculates your gains and losses across all of your Kalshi activity so you know exactly where you stand.

MegaETH support

Now here's some BIG news worth celebrating (see what we did there?).

MegaETH is an Ethereum Layer 2 blockchain built for real-time performance, targeting over 100,000 transactions per second with millisecond-level block times. If you're transacting on MegaETH, we now support two import methods:

  • Wallet address: Paste your public wallet address in the integrations section. Your transaction history pulls in automatically.
  • CSV upload: Download your transaction data from MegaETH and upload it directly into Summ.

Either method gives you full transaction coverage for accurate tax reporting.

CoinRabbit support

We've partnered with CoinRabbit, a crypto asset management platform that offers lending, swapping, earning, and trading across 400+ digital assets. If you're borrowing against your crypto or earning yield on CoinRabbit, those transactions can now flow into your Summ tax reports.

Summ supports CSV imports covering CoinRabbit's Dashboard, Loans, Savings, Exchange, Referral, and Transactions History exports. Download your CSVs from CoinRabbit and upload them into Summ. Step-by-step instructions are available in the app.

CoinRabbit users also get 25% off their first year with Summ.

Bittensor support

Bittensor is a decentralized blockchain network that creates an open marketplace for AI and machine learning models. Participants contribute compute, data, and AI services across specialized subnets and earn TAO, the network's native token. Summ covers TAO transfers (deposits and withdrawals), staking activity, and network fees.

Connect via API or upload your CSV to import your Bittensor activity

WhiteBIT support

WhiteBIT is one of the largest European crypto exchanges, offering spot trading, futures, margin, and staking. If you're trading on WhiteBIT, connect via API or upload your CSV to bring your full trading history into Summ.

Getting started

More integrations means more complete data. When your transactions import automatically across all of the platforms you use, you spend less time chasing down CSVs and more time understanding your actual tax position.

All five integrations are live now. Log in or sign up to connect your accounts and see the tax impact of your trades.

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Foire aux questions

Les transactions "cryptos à cryptos" sont-elles imposables ?

Les transactions "crypto à crypto" ne sont pas imposables ; le fait générateur est la cession de l’actif numérique ayant pour contrepartie: 1.Une monnaie ayant un cours légal dit FIAT (Dollars, Euro, Ariary,); 2.L’achat d’un bien ou d’un service (exemple : paiement d’une consultation fiscale en actif numérique).

Quelle fiscalité pour les airdrops ?

La manière dont les cryptomonnaies sont imposées dans la plupart des pays signifie que les investisseurs peuvent toujours être tenus de payer des impôts, qu'ils aient réalisé un bénéfice ou subi une perte globale. En fonction de votre situation, les impôts sont généralement réalisés au moment de la transaction, et non sur la position globale à la fin de l'exercice financier.

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