FAQ: Transaction Type Examples
TL;DR: Different crypto actions require different transaction types in CoinTracking. This FAQ shows real-world examples—such as trading, mining, and transferring assets—and how they should be recorded to ensure accurate tracking and tax reporting. Whether it's a deposit, withdrawal, spend, or income, choosing the right type is essential.
1. Transferring Euros from Bank or Card to Coinbase
Type: General Deposit (on Coinbase)
Note: Fiat deposits and withdrawals are not always recorded—it depends on your portfolio tracking strategy. If following the recommended "overall" method, skip this step.
2. Buying BTC with Euros on Coinbase
Type: Trade (on Coinbase)
You’re trading fiat for crypto.
3. Transferring BTC to a Wallet
Type: General Withdrawal (from Coinbase) and General Deposit (to wallet)
4. Buying Hash Power (e.g. Genesis Mining)
Type: Spend
This counts as a capital gains event.
5. Receiving BTC Payments from Genesis Mining
Type: Income or Mining
These appear in your income report.
6. Transferring BTC from Wallet to Coinbase
Type: General Withdrawal (from wallet) and General Deposit (to Coinbase)
7. Selling BTC for Euro
Type: Trade (on Coinbase)
You’re buying fiat using crypto.
See: Deposits and Withdrawals | Explanation of Transaction Types
8. Transferring Euros to Bank Account
Type: General Withdrawal (optional)
Skip if using the recommended method.
9. Receiving Coins as Gift or Airdrop
Type: Gift
Can also be used for forked coins. These are listed under income in the tax report.
10. Buying Goods or Services with Crypto
Type: Spend
Triggers a capital gains calculation for the spent coin. The value isn’t shown separately in the tax report.