Fees, Statements & Tax Reporting for Crypto

What fees apply to my crypto transactions?#

Each crypto transaction has a transaction fee, which will be displayed on the confirmation screen before you submit your order. 

In addition, we may include a spread (a mark-up or mark-down) in the conversion rate quoted for cryptocurrency trades. The spread helps manage market volatility and maintain service.

Depending on market conditions, the spread may range from 0% to 1% and is included in the price shown on the confirmation screen before you complete your transaction. This means the price you see already includes this cost, so you won't need to do any extra calculations when you place your order.

Transaction fees are excluded from performance calculations in your Portfolio and Asset Details pages.

You can see the breakdown of transaction fees here.

Do I have to pay taxes on my crypto gains?#

Yes. When you sell crypto for a profit, those gains may be taxable and need to be reported when you file your taxes.

• Selling cryptocurrency for more than you paid may result in a capital gain.

• Selling for less than you paid may result in a capital loss, which could offset other gains.

• Your tax rate depends on how long you held the crypto and your personal tax situation.

OnePay doesn’t provide tax advice. If you have questions about your specific situation, we recommend speaking with a tax professional.

Where can I learn more about taxes on cryptocurrency?#

For official guidance, the IRS provides an FAQ section on virtual currency transactions, which covers how crypto is taxed in the U.S. You can view it directly on the IRS website.

OnePay does not provide tax advice. If you have questions about your specific tax situation, we recommend speaking with a licensed tax professional.

How does OnePay determine my Crypto performance?#

OnePay measures performance using your average cost and the net money flowing in and out (buys vs. sells). Fees are not included in your performance calculation. For example, if you buy $10 of BTC and receive $9.51 after fees, your performance will be calculated based on the $9.51 actually invested.

How do I view my statements and tax forms?#

OnePay Crypto does not provide monthly account statements; instead, you’ll receive email confirmations for each trade. You can review your year-end tax forms (such as Form 1099-MISC or 1099-DA) will be available by the end of March in the OnePay app.

To view your crypto tax documents:

• Open the OnePay app

• Select Profile, then tap Documents

• Choose Tax Documents

• Select Crypto to view your available forms

When will I receive my tax forms?#

You can view your year-end tax forms for Crypto will be available in the OnePay app by the end of March. These forms typically include Form 1099-MISC or 1099-DA for reporting your crypto sales. 

To view your tax forms:

• Open the OnePay app

• Select Profile, then tap Documents

• Select Tax documents, then select Crypto