How Do I Prove Crypto Transactions If I Used Multiple Exchanges

Crypto investors often move assets between platforms for better prices, staking rewards, liquidity, or trading opportunities. This creates convenience at the time but a headache later when you try to calculate gains, prove losses, or respond to HMRC. The question many people ask is how to prove crypto transactions when assets have passed through multiple exchanges, wallets, DeFi platforms, or even exchanges that have since collapsed.

The good news is that HMRC does not expect perfection for crypto record keeping. What they expect is a clear, logical, verifiable trail that shows where an asset came from, when it was bought, when it was sold, and what the value was at each disposal. In my opinion proving crypto transactions is manageable even across multiple exchanges as long as you understand what HMRC wants and gather the right records early.

This guide explains how to prove crypto transactions when using multiple exchanges, what records you must keep, how to reconstruct missing data, how to handle collapsed platforms, how to track wallet to wallet transfers, and how to present everything clearly if HMRC asks questions.

What HMRC Actually Wants When Checking Crypto Records

HMRC’s core requirement is that you must be able to justify every disposal. They want to see:

• When you bought crypto

• When you sold crypto

• How much you received

• How much you paid

• What your allowable costs were

• What your gain or loss was

HMRC also wants to understand:

• Transfers between your own wallets

• Movement between exchanges

• Lost or inaccessible crypto

• Any staking, airdrops, forks, or rewards

If your records provide this story clearly then you have met your requirement.

Why Proving Crypto Transactions Is Harder Across Multiple Exchanges

Using multiple exchanges creates several challenges:

• Each platform stores data differently

• Export formats are inconsistent

• Some exchanges disappear or block access

• Wallet to wallet transfers do not show cost basis

• Off-exchange activity like DeFi staking is not tracked automatically

• Swaps are treated as disposals but produce no GBP figure

• Records get lost when people switch devices or lose login access

In my opinion all these problems are solvable with proper reconstruction.

What Records You Should Collect From Every Exchange

Every exchange usually allows you to export transaction history even years later. The records you should collect include:

1. Full transaction history

Buy orders, sell orders, swaps, conversions, fiat deposits, fiat withdrawals.

2. Trade history

Typically includes price per coin, quantity, fees, and timestamps.

3. Deposit and withdrawal history

Very important for proving wallet to wallet transfers.

4. Exported CSV or XLS files

Most exchanges offer CSV exports which HMRC accepts.

5. API export (optional)

Some platforms allow API key exports that feed into portfolio software.

6. Email confirmations

If an exchange has closed, email confirmations may be your only evidence.

7. Screenshots of your balances

Used when exchanges close or restrict access.

8. Bank statements

To verify fiat on-ramp and off-ramp activity.

9. Blockchain explorer links

These prove on chain transactions but do not prove cost basis on their own.

10. KYC documents

To prove the account belonged to you.

Gathering these early prevents problems later.

How To Prove Wallet To Wallet Transfers

One of the most common concerns is proving that a transfer between your own wallets is not a disposal.

HMRC does not treat internal transfers as disposals but you must be able to prove:

• The sending wallet is yours

• The receiving wallet is yours

• No sale took place in between

• The same coin was transferred

To prove wallet to wallet transfers you should keep:

• Exchange withdrawal records

• Exchange deposit records

• Blockchain explorer transaction IDs

• Wallet addresses linked to you

• Screenshots from your wallet interface

• Notes explaining which wallets you control

If the amounts match and the timestamps align, HMRC will accept that no disposal took place.

How To Reconstruct Records From Closed or Inaccessible Exchanges

Many crypto platforms have collapsed, frozen withdrawals, or limited access. If you cannot export your history you must reconstruct your records using any evidence you can find.

Useful sources include:

• Old email confirmations

• Wallet addresses that received withdrawals

• Blockchain explorer logs

• Screenshots saved earlier

• Bank account deposit or withdrawal history

• Trading statements from other exchanges showing matching transfers

• Support emails from the platform

• Transactions recorded in third-party portfolio apps

You can also make a negligible value claim if the crypto still exists but is permanently inaccessible. This can crystallise a loss.

In my opinion the more sources you gather, the stronger your evidence.

How To Handle Swaps, Liquidity Pools, and DeFi Transactions

Swaps, staking rewards, yield farming, and liquidity pool transfers all count as disposals for Capital Gains Tax. To prove these you need:

• The date of the swap

• The amount of asset given

• The amount of asset received

• The market value in GBP at the time

• Any fees paid

• The protocol used

DeFi platforms rarely provide exportable records, so you may need:

• Blockchain explorer transaction details

• Screenshots

• Third-party apps like Zapper or DeBank showing history

• Notes explaining the activity

• Manual valuations from a price tracker at the time of the swap

The disposal value for a swap is the GBP value of the asset received, even though no cash was involved.

How To Present Your Crypto Transactions To HMRC

Whether you complete a Self Assessment or HMRC asks questions during an enquiry, the key is clarity. HMRC prefers to see the following:

1. A spreadsheet summarising all disposals

Include:

• Date acquired

• Date disposed

• Cost

• Proceeds

• Fees

• Gain or loss

2. Attachments showing full transaction histories

Keep both the full raw data and your summary.

3. Wallet movement logs

Highlight internal transfers separately so they are not treated as disposals.

4. Detailed notes of reconstruction

Explain how you rebuilt missing records if a platform collapsed.

5. Evidence bundle

Attach screenshots, emails, blockchain explorer links, bank statements, and anything else relevant.

In my opinion clarity matters more than perfection. HMRC understands the crypto world is messy. They want transparency and a logical audit trail.

Using Software To Prove Crypto Transactions

Crypto tax software can help enormously when you have multiple exchanges.

Popular tools include:

• Koinly

• CoinTracker

• Accointing

• CryptoTaxCalculator

• Recap (UK based)

• Coinpanda

These tools:

• Import exchange CSVs

• Sync wallet transactions via public address

• Identify internal transfers

• Apply UK share pooling rules

• Calculate gains and losses

• Produce exportable HMRC-ready reports

You must still review everything manually because software can mis-categorise transactions.

How To Prove Stolen, Lost, Or Scammed Crypto

You may still need to prove:

• When the crypto was acquired

• When you lost access

• That the loss was not recoverable

• That the token or asset now has negligible value

Acceptable evidence includes:

• Police crime reference numbers

• Blockchain explorer showing irreversible transfer

• Correspondence with the exchange

• Documentation from administrators in insolvency cases

• Screenshots of wallet errors

• Emails about phishing attacks

You may be able to make a negligible value claim which allows HMRC to treat the crypto as disposed of for zero and crystallise a loss.

How To Handle Transfers Between Multiple Exchanges

If you used several exchanges your job is to link withdrawals and deposits.

Example process

You withdraw BTC from Binance at 13:05.
You deposit the same amount in Coinbase at 13:15.
Blockchain explorer shows the same transaction ID.

This acts as proof of continuity.

If the platforms do not show timestamps, use:

• Blockchain explorer for timing

• Email withdrawal confirmations

• Screenshots

• Wallet logs

The goal is to show HMRC that the movement was not a disposal.

Step By Step Method To Prove Multi-Exchange Transactions

Step 1: Export every history you can find

CSV is best.

Step 2: Gather blockchain explorer proof

Search every wallet address you used.

Step 3: Identify internal transfers

Mark them clearly so your spreadsheet does not treat them as disposals.

Step 4: Apply the share pooling rules

This ensures cost basis is consistent.

Step 5: Create a disposal-only summary

HMRC does not need to see every deposit and withdrawal, only disposals and cost basis.

Step 6: Prepare an evidence folder

Group by exchange and by wallet.

Step 7: Prepare explanations for unusual activity

Such as:

• Tokens from forks

• Rewards

• Collapsed platforms

• Hard to trace swaps

Clear explanations reduce HMRC questions.

Real UK Examples

Example 1: Multiple exchange user

Sarah used Binance, Coinbase, and Crypto.com. She downloaded all CSVs, linked each movement with blockchain explorer proofs, and used Koinly to create an HMRC report. HMRC accepted her summary without further enquiry.

Example 2: Lost access to exchange

Tom used FTX before it collapsed. He could not export history so he relied on old emails, bank deposits, and blockchain logs. He made a negligible value claim for trapped assets. HMRC accepted his evidence.

Example 3: DeFi activity

Emily staked ETH across several platforms. She used blockchain explorers and screenshots to reconstruct swap values. HMRC required clarification but accepted her records.

Example 4: Hard wallet transfers

James moved crypto to a Ledger wallet. He matched exchange withdrawal records with the Ledger address. HMRC accepted the internal transfer and treated it as non disposal.

Final Thoughts

Proving crypto transactions across multiple exchanges is entirely possible. HMRC does not demand perfect data. What they want is a credible record of your trading activity backed by reasonable evidence. With a combination of CSV exports, blockchain explorer logs, screenshots, bank statements, and clear explanations you can reconstruct a complete and accurate history.

In my opinion the easiest way to manage this is to maintain records as you go and use tax software for organisation. Regardless of how many exchanges you used, you can always prove your transactions with the right approach and clear documentation.