#1 NiceHash Tax Calculator
🏆 Full NiceHash support
📈 Smart tax optimization and offsetting of losses
🇬🇧 Full support for UK tax regulations
Get started for free
Do I have to pay taxes when using NiceHash?
Yes, NiceHash gains and income are considered taxable transactions by HMRC.
NiceHash capital gains tax ranges from 10% to 20%, with an annual tax-free allowance of £6,000 for the 2023/24 tax year. Tax on income from NiceHash ranges from 0% to 45%, based on the total taxable income.
Read our complete 2024 guide Crypto Tax UK for more information.
Does NiceHash automatically deduct taxes?
No, as of 2024, NiceHash does not automatically deduct taxes from crypto trades.
Calculating crypto taxes can be challenging for crypto exchanges, as they do not have any knowledge of your off-exchange transactions on other platforms or wallets and are therefore missing crucial information required to calculate gains, losses and income.
However, NiceHash might still report your crypto transactions to your country's tax authority if certain criteria are met or if asked.
We highly recommend tracking and reporting all relevant crypto transactions on and off the exchange to prevent audits and fines.
Import NiceHash transactions into Blockpit
Blockpit offers advanced integrations to process NiceHash transaction data. Our guide explains how to add the NiceHash integration for portfolio tracking and tax calculation.
Step 1: Log in to your Blockpit account
Log into your Blockpit account here: Login. If you don’t have an account yet, please sign up first: Create Blockpit Account.
Step 2: Select "+ Integration"
After logging in, click on “+ Integration" in the top navigation.
Step 3: Select "NiceHash"
Select NiceHash from the integration creation dialog
Step 4: Follow the on-screen instructions
You can find a detailed NiceHash setup guide here: How to import NiceHash transactions
Step 5: Wait for the data import to finish
The data import can take several minutes, depending on the number of transactions. Have a look at the import scope description of our NiceHash integration in the meantime!
Import NiceHash transactions into Blockpit
Blockpit offers advanced integrations to process NiceHash transaction data. Our guide explains how to add the NiceHash integration for portfolio tracking and tax calculation.
Step 1: Log in to your Blockpit account
Log into your Blockpit account here: Login. If you don’t have an account yet, please sign up first: Create Blockpit Account.
Step 2: Select "+ Integration"
After logging in, click on “+ Integration" in the top navigation.
Step 3: Select the corresponding blockchain
In the appearing integration creation dialog, select the corresponding blockchain from the list.
Step 4: Follow the on-screen instructions
You can find a detailed NiceHash setup guide here: How to import NiceHash transactions
Step 5: Wait for the data import to finish
The data import can take several minutes, depending on the number of transactions. Have a look at the import scope description of our NiceHash integration in the meantime!
Which NiceHash transactions are automatically imported into Blockpit?
Blockpit auto-labels NiceHash transaction data based on country-specific gain, loss, and income tax categories, then processes them in alignment with your national tax regulations. As a result, Blockpit can distinguish automatically among these asset classes and NiceHash transactions:
Assets
✅ Fiat (EUR, USD, CHF, etc.)
✅ Crypto (Coins & Token)
✅ NFTs (NFT Collections)
✅ Commodities (Gold, Silver, etc.)
✅ Derivatives (Tokenized Stocks, Tokenized Commodities, etc.)
Transactions
✅ All transactions provided by NiceHash
Review NiceHash transaction data in Blockpit
Blockpit seamlessly merges and organizes your NiceHash transaction data. Once all data is imported, the following features ensure clarity and assist in verifying data accuracy:
- Identifying unmerged transfers
- Flagging unlabeled transactions
- Highlighting mismatched balances
- Pinpointing potential issues
- Filtering of assets and transactions
- Access to help center guides
For an in-depth overview of Blockpit's review capabilities, refer to: Troubleshooting
What does the NiceHash tax report look like?
Blockpit's popular crypto tax calculator creates the most comprehensive tax reports for NiceHash and more than 250,000 other crypto assets, exchanges, wallets and blockchains.
Additionally, Blockpit generates pre-filled tax forms for many countries for easy integration into your yearly tax return. Our tax reports also contain clear explanations in terms of legal interpretation for submission to tax authorities. So far, every tax report has been accepted by the tax offices without a complaint.
The tax report provides information about all of your crypto balances, realized profits and losses, and can be used as proof of origin with banks or tax advisors. It contains all relevant transactions of your account, always refers to the selected tax year and shows details such as time stamp, amount, asset, costs and fees of the individual transactions.
You can view some of our country specific crypto tax reports here: Blockpit Sample Tax Reports
Optimize & reduce NiceHash taxes with Blockpit
Depending on your tax residency, it is possible to realize profits and losses in order to optimize your taxes (offsetting of losses against gains & tax loss harvesting). Blockpit’s Tax Optimization Feature allows you to identify unrealized gains and losses as well as the holding period of your NiceHash assets.
A more detailed description of the Blockpit Tax Optimization Feature can be found here: How to identify and offset unrealized gains and losses?
