Rules · Guide
What Records to Keep From Your First Crypto Purchase: A Step-by-Step Guide for Beginners
Learn which crypto transaction records for tax to save after your first purchase, where to find each one and how long to keep them in the US, UK and Canada.
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- How2BuyCrypto Editorial
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- 7 min read
Written with AISources checked How our guides are made
At a glance
- Save the receipt, the matching bank or card statement and an export of your account history, then name the files and back them up.
- After a withdrawal, also save the transaction ID, the network and the addresses.
- Keep a coin's purchase record until you sell it, then for your country's retention period. Ask your tax authority if it is not listed.
- Keep recovery phrases and passwords out of the records folder.
On this page9 sections
To keep crypto transaction records for tax, save the receipt, the payment record and any transaction ID in your own folder straight away when you buy cryptocurrency, because an exchange's history can disappear if the platform closes or you lose access to your account. The steps below cover what to save, where each item lives and how long to keep it.
What you need before you start
- Your login for the platform where you bought, and the app or site open.
- Your bank or card statement for the payment.
- One private folder on your computer, plus a second place for a backup copy, such as an external drive.
- Two terms. A transaction ID (TXID) is an identifier that uniquely identifies one transaction (opens in a new tab). Cost basis is what you paid to get the coin; as one US example, the IRS counts fees (opens in a new tab) and commissions in it.
How to save your crypto purchase records, step by step
Save the receipt as soon as the order fills
Open the order history in the app or on the site and find the order you just placed. If you do not see it, check again before you buy a second time.
Check that the order page shows the coin, the amount of crypto, the price per coin, each fee and the total paid. Save it as a PDF or file if the platform offers one; otherwise take a screenshot that shows all those lines. If a fee or the total is missing, look in the help center for where it is listed, and ask support if you cannot find it.
Match the receipt to your bank or card statement
Find the payment on your statement and compare its amount with the total paid on the receipt. Before you decide something is wrong, check your statement for any charge your bank or card issuer added, and check whether the platform took a deposit fee. If the amounts still differ, ask support with both documents in hand. Save the statement page or its download next to the receipt.
Export your transaction history
Look in the account, settings or reports area of your crypto exchange for your transaction history, statement or report, and save it in whatever format the platform offers. In the UK, GOV.UK notes (opens in a new tab) that some exchanges provide reports of your transactions, so others may not; check the help center.
Canada's tax agency, the CRA, advises (opens in a new tab) exporting a history of your activity regularly, in case the exchange ceases operating, stops offering services in Canada or you lose access to your account. Export regularly wherever you live. Open the file and find your purchase, with its date, coin, amount and fees. If it is missing, rely on the receipt and ask support why. On Kraken, how to export your Kraken transaction history has the steps.
Save the TXID, network and addresses after a withdrawal
Skip this until you move crypto off the platform. Then open the withdrawal history and copy the TXID, the network used, the receiving address and the date, amount and any network fee.
Paste the TXID into a block explorer for that network (a public website that shows transactions on a blockchain) to confirm the transaction is public. In the UK, the tax authority, HMRC, treats (opens in a new tab) a link to an open source blockchain transaction, with acknowledgement of who owns the public key, as a record. If the explorer finds nothing, check the withdrawal status before you send again. How to send crypto to a wallet covers the sending checks.
Name your files and back them up
Use names you can sort, such as the date first:
2026-10-10_CoinX_buy_receipt.pdf. Put the receipt, statement page and export in one folder per year, then copy the folder to your second place. Open the backup copy once to check that it opens.Repeat after every buy, swap, transfer or sale
Save the same items each time. A swap, which trades one coin for another, is its own transaction and needs its own record. A transfer between wallets you own needs the TXID and both addresses. For a sale, follow records to keep when you sell crypto.
Example with made-up numbers
The coin, price and fees below are invented. Your platform may label and group these amounts differently.
- You deposit $100 by card. A $1 deposit fee is taken, so $99 arrives.
- You buy Coin X with it. A $1 trading fee is taken, leaving $98 to spend.
- The price per coin shown on the buy screen is $2.00, so $98 buys 49 Coin X.
- You paid $100 in total for 49 Coin X, which is about $2.04 per coin, against the $2.00 price shown.
- Your filled-in record: the date and time, Coin X, 49 units, $2.00 price per coin, $1 deposit fee, $1 trading fee, $100 total paid, the payment method and the matching statement line.
Your saved receipt holds the same two figures for a real purchase.
Checklist of fields to record
Fees are separate fields because each one is part of what you paid. How crypto exchange fees work explains each type.
| Field | Where to find it | Why it matters |
|---|---|---|
| Date and time | Receipt, order history | Fixes the price and your records order |
| Coin | Receipt | Names what you bought |
| Units | Receipt, order history | How much crypto you received |
| Price per coin and value in your currency | Buy screen, receipt | Value at the time of the purchase |
| Each fee | Receipt, deposit screen | Part of what you paid |
| Total paid | Receipt, bank or card statement | Your cost |
| Platform | Footer or terms of its site | Where to ask for history later |
| Payment method | Receipt, statement | Ties the order to your money |
| TXID | Withdrawal history | Finds a send on the blockchain |
| Network | Withdrawal screen | Which chain the TXID belongs to |
| Addresses | Withdrawal history, your wallet | Show where coins went |
Write the platform's legal name, not just its app name.
How long to keep crypto records, by country
As of October 2026: periods and fields differ by country. If yours is not listed below, including Australia and EEA countries outside the EU, check your own tax authority for what to record and how long to keep it. For what each country taxes, read our crypto tax guide.
These periods count from a tax year or a return, not from your purchase date. For a coin you still hold, keep its purchase record until you sell it, and then for the period.
- United States: the IRS says (opens in a new tab) to keep records documenting your purchase, receipt, sale, exchange or other disposition of digital assets. Crypto is treated as property, and records relating to property are generally kept until the period of limitations expires (opens in a new tab) for the year you dispose of it. The general period is 3 years, with longer ones in some situations. Brokers report some digital asset transactions to the IRS on Form 1099-DA, starting with transactions on or after January 1, 2025, so keep your own records to check against theirs.
- United Kingdom: you must keep your own records (opens in a new tab), because HMRC will ask to see them if it carries out a compliance check. Its list (opens in a new tab) includes the type of cryptoasset, the date, the number of units, the value in pounds on that date and your bank statements. GOV.UK also suggests keeping wallet addresses. If you file a Self Assessment tax return on time, keep records at least 22 months (opens in a new tab) after the end of the tax year (15 months after sending a late return). If you are self-employed, it is at least 5 years (opens in a new tab) after the 31 January deadline. From 1 January 2026, exchanges and other providers must collect and record (opens in a new tab) customer details.
- EU: DAC8 rules for crypto tax transparency (opens in a new tab) apply from 1 January 2026. Retention periods are not covered here, so ask your national tax authority.
- Canada: the CRA says (opens in a new tab) to keep records for at least six years from the end of the last tax year they relate to. It lists the date and time, the value in Canadian dollars at the time, the number of units and the type, a description of each transaction and the other party (even if only their address), and the addresses of each wallet used.
Keep your records safe and private
Exports hold personal data, so keep the folder private and share it only with your tax adviser or authority. On public blockchains such as Bitcoin's, addresses and TXIDs are not secret: all Bitcoin transactions are public (opens in a new tab) and anyone can see the balance and transactions of any address. A file that links your name to those addresses shows your holdings, so do not post it. A tidy folder also helps family find your accounts, as what happens to crypto when you die explains.
Risks to understand
- A screenshot can cut off a fee or the total. Save the full receipt page, or the export, as well.
- In the UK, HMRC's GOV.UK guidance (opens in a new tab) notes that exchange reports are not tax calculations, so they do not replace your own records.
- Exchanges may keep transaction records only for a short period, or may no longer exist when you complete a tax return, as the UK's HMRC warns (opens in a new tab). Export while you still can.
Before you buy, read how to buy crypto step by step, which includes the registration check.
Frequently asked questions
Do I need records if I only bought and never sold?
Yes. Save the purchase record anyway, because it is the start of the paper trail for that coin. In the US, the IRS lists your purchase among the transactions to document. In the UK, the tax authority, HMRC, describes records like these as part of the audit trail from acquisition to disposal. Losing the purchase record now means rebuilding it later from bank statements and old emails.
What if my exchange closed and I lost my history?
Rebuild what you can from other places. Look for old confirmation emails, your bank or card statements, any exports you saved, and the addresses and transaction IDs of coins you moved. On public blockchains such as Bitcoin's, a transaction ID can be looked up in a block explorer. If the platform still answers, ask its support for a history export before the account is gone.
Should I record a very small purchase?
Yes, in the same way as a large one. The lists from Canada's tax agency (the CRA) and the UK's tax authority (HMRC) both refer to each transaction and name no size below which you can skip it. A small purchase is also part of what you paid for that coin, which you may need when you sell.
Sources
- Digital assets, Internal Revenue Service (IRS). Accessed .
- Frequently asked questions on virtual currency transactions, Internal Revenue Service (IRS). Accessed .
- How long should I keep records?, Internal Revenue Service (IRS). Accessed .
- CRYPTO10400 - Introduction to cryptoassets: record keeping, HM Revenue & Customs (HMRC), Cryptoassets Manual. Accessed .
- CRYPTO10410 - Introduction to cryptoassets: Cryptoasset Reporting Framework, HM Revenue & Customs (HMRC), Cryptoassets Manual. Accessed .
- Check if you need to pay tax when you sell cryptoassets, HM Revenue & Customs (GOV.UK). Accessed .
- Keeping your pay and tax records: How long to keep your records, GOV.UK (HMRC guidance). Accessed .
- Business records if you're self-employed: How long to keep your records, GOV.UK (HMRC guidance). Accessed .
- Keeping books and records of crypto-assets for tax filing, Canada Revenue Agency (CRA). Accessed .
- Glossary - Bitcoin developer documentation, Bitcoin Project (developer.bitcoin.org). Accessed .
- Protect your privacy, Bitcoin Project (bitcoin.org). Accessed .
- DAC8, European Commission, Directorate-General for Taxation and Customs Union. Accessed .
This guide was researched and written with AI using the sources above. It is general information, not financial advice. Cryptoassets are volatile and you could lose the money you invest. Check the rules in your country before you buy. Some links on this site may be affiliate links; they never change what we write. Spotted an error? Email contact@how2buycrypto.org.