Ledger does collect Know Your Customer (KYC) information from customers who trade cryptocurrency through Ledger Live. However, Ledger does not collect information from customers who simply use the company’s hardware wallet.
It’s important to remember that transactions on blockchains like Ethereum are publicly visible and permanent. Tax agencies around the world analyze blockchain transactions to match ‘anonymous wallets’ to known investors.
Yes. In the United States, your transactions on Ledger and other platforms are subject to income and capital gains tax.
If you’ve earned or disposed of (ex. Sold or traded away cryptocurrency) during the year, you’ll have a tax liability to report to the IRS.
For more information, check out our complete guide to cryptocurrency taxes.
Hardware wallets like Ledger are legal in the United States.
Moving cryptocurrency between wallets you own is not considered a taxable event.
You can download a csv file containing your transaction history from Ledger Live. However, it’s important to note that you’ll need a complete record of your gains, losses, and income to accurately report your crypto taxes.
CoinLedger can help. The platform can connect to your wallets and exchanges and help you generate a complete crypto tax form in minutes.