How to Export Your Transaction History from Ledger: Complete 2025 Guide

Ledger is the world’s most popular hardware wallet manufacturer, with millions of devices sold that securely store Bitcoin, Ethereum, and hundreds of cryptocurrencies. The combination of Ledger Nano S Plus, Nano X, or Stax devices with the Ledger Live app provides a complete digital asset management experience.

But when it’s time to prepare your income tax return or respond to a tax authority request, many users discover that exporting their tax history from Ledger Live is not as straightforward as it might seem.

An incomplete or poorly structured export can lead to:

• Tax returns with errors that result in penalties from the AEAT
• Inability to justify the origin of your cryptocurrencies during an audit
• Incorrect calculations of the FIFO method required in Spain
• Omission of staking rewards, swaps, or income that must be declared
• Loss of traceability in multichain operations

In this complete and up-to-date 2025 guide, we explain step by step how to correctly export all your Ledger Live operations, how to interpret the exported data, what additional information you need, and how to organize everything for your tax filing with the AEAT.

Before diving into the export process, it’s essential to understand what makes Ledger different from other wallets and why this affects how you should manage your tax history.

Ledger’s security architecture

Ledger is a hardware wallet (physical wallet) that stores your private keys in a secure chip isolated from the internet. Unlike software wallets like Metamask, your keys never leave the physical device, providing an additional layer of protection against hacks and malware.

Ledger Live is the desktop and mobile application that acts as an interface to:

• View your balances and transactions
• Send and receive cryptocurrencies
• Perform staking on supported assets
• Execute swaps between different tokens
• Interact with DeFi applications via Ledger Connect

Key differences between Ledger and other options

What Ledger Live actually records

Ledger Live synchronizes blockchain information for all the accounts you have added. This includes:

• Incoming transactions: Deposits received from exchanges, other wallets, or payments
• Outgoing transactions: Transfers to exchanges, other wallets, or payments
• Staking: Delegations, undelegations, and rewards received
• Internal swaps: Exchanges performed through Ledger Live’s swap service
• Network fees: Gas fees and transaction fees paid

However, there is information that Ledger Live cannot capture directly:

• Operations carried out in DeFi via WalletConnect that do not pass through Ledger Live
• The original acquisition price of your cryptocurrencies if you bought them elsewhere
• Interactions with complex smart contracts on certain networks

As a Ledger user in Spain, your tax obligations are identical to those of any other form of cryptocurrency ownership. It’s a common mistake to think that using an “offline” hardware wallet means nothing needs to be declared.

Capital gains and losses

Every time you sell, exchange, or swap cryptocurrencies, you generate a capital gain or loss. This includes:

• Selling Bitcoin for euros
• Exchanging Ethereum for another cryptocurrency
• Paying with cryptocurrencies for goods or services
• Performing swaps through Ledger Live

All these operations must be declared in the model 100 applying the FIFO method, which establishes that the first cryptocurrencies you bought are the first ones you sell for gain calculation purposes.

Model 721: cryptocurrencies abroad

Here is a point that causes a lot of confusion. Hardware wallets like Ledger are physical devices located in your home, but the cryptocurrencies are not on the device. They are on the blockchain, which is a global decentralized network.

For this reason, the AEAT considers cryptocurrencies held in non-custodial wallets (including hardware wallets) to be “located abroad” for the purposes of model 721. If the total value of your cryptocurrencies exceeds €50,000 as of December 31, you are required to file this informative return.

You can explore all formal obligations in more detail in our guide on models 100, 721, and 714 for cryptocurrencies.

Investment income

If you use Ledger Live’s staking feature for assets such as Ethereum, Solana, Cosmos, or Polkadot, the rewards you receive are investment income. They must be declared at the market price at the time they are received.

The same applies if you have received airdrops to addresses managed by your Ledger. Even if you did nothing to obtain them, they have tax implications you need to be aware of. Our DeFi taxation guide explains in detail how these returns are taxed.

To prepare a complete tax return, you need to identify and document all the types of operations you have carried out with your Ledger.

1. Deposits and receipts

These include transfers from centralized exchanges, transfers from your own wallets, transfers received from third parties, airdrops, and protocol rewards.

Tax implications:

• Deposits from your own exchanges or wallets do not generate taxation (internal movements)
• Transfers received from third parties as payment are taxable (gain or loss depending on original acquisition price)
• Airdrops must be valued at the market price at the time of receipt

2. Outgoing transfers

These include transfers to exchanges for sale, transfers to your own wallets, payments for goods or services, and donations.

Tax implications:

• Transfers to your own exchanges or wallets are not taxable if you can prove you control both
• Payments made with crypto do generate a capital gain or loss
• Donations have their own specific tax treatment

3. Staking and rewards

Ledger Live allows direct staking of several assets such as Ethereum (ETH), Solana (SOL), Cosmos (ATOM), Polkadot (DOT), Tezos (XTZ), Near Protocol (NEAR), among others.

Tax implications:

• The initial delegation for staking is not taxable (no swap)
• Rewards received are investment income
• Undelegation is not taxable if you recover the same asset
• If you sell the rewards, the gain or loss is calculated from their value when received

4. Swaps through Ledger Live

Ledger Live integrates swap services that allow you to exchange cryptocurrencies directly within the app, working with providers such as Changelly, 1inch, or Paraswap.

Tax implications:

• Each swap is a taxable exchange that generates a gain or loss
• Even swapping BTC for ETH is taxable
• Swap fees are deductible expenses
• It is crucial to correctly classify each type of operation to avoid mistakes

5. DeFi operations via Ledger Connect

If you have connected your Ledger to DeFi protocols via WalletConnect or Ledger Connect, you may have performed operations including DEX swaps like Uniswap, liquidity provision, lending and borrowing, and NFT minting or trading.

Tax implications:

These operations have the same treatment as if you had performed them from any other wallet. The difference is that they may not appear fully in the Ledger Live export, so you will need to supplement with data from the relevant blockchain explorer.

If you frequently operate with DeFi, we recommend reviewing our guide to the taxation of DEXs and protocols like Uniswap to understand all the implications.

Let’s move on to the concrete process. Ledger Live offers a history export function, although it has some limitations you should be aware of.

Prerequisites

Before starting, make sure you have:

• Ledger Live updated to the latest version (always download from ledger.com)
• All your accounts synchronized and up to date
• Your Ledger device connected (optional but recommended for verification)
• Storage space for CSV files
• A spreadsheet (Excel, Google Sheets) to process the data

Step 1: Update and synchronize Ledger Live

1. Open Ledger Live on your computer
2. If an update is available, install it
3. Wait for all your accounts to synchronize
4. Verify that the displayed balance matches your expectations

Important: An incomplete synchronization can result in an incomplete exported history. If you notice missing recent operations, force a resynchronization from each account’s settings.

Step 2: Access the export function

1. In Ledger Live, go to Settings (gear icon in the top right)
2. Select the "Accounts" tab
3. Look for the "Export operation history" option
4. You can also access it from the File → Export operations menu

Step 3: Configure the export

Ledger Live allows you to choose:

• Accounts to export: All or selected accounts
• Date range: Full history or a specific period
• Format: CSV (the most useful for tax processing)

Recommendation: For tax filing, export all accounts and the full year you need to declare (for example, 01/01/2024 to 31/12/2024).

Step 4: Download and verify the file

1. Click "Export"
2. Choose the location to save the file
3. Save it with a descriptive name: Ledger_History_2024.csv
4. Open the file to verify that it contains data

Step 5: Export by individual account (alternative)

If you prefer more granular control:

1. Go to Portfolio in Ledger Live
2. Select a specific account (e.g., "Bitcoin")
3. In the account view, look for the download or "Export" icon
4. Download the CSV for that account
5. Repeat for each account

This method allows you to have separate files by cryptocurrency, which makes organization and review easier.

Once the file is downloaded, you need to understand its structure in order to process it correctly.

Typical columns in the Ledger Live CSV

Interpreting operation types

Ledger Live uses different labels for operation types:

Information that may be missing from the export

The Ledger Live CSV has some important limitations:

• Original purchase price: If you transferred crypto from an exchange, Ledger Live does not know the price you paid
• Complex DeFi operations: Smart contract interactions via WalletConnect may not be fully reflected
• Multiple derived addresses: Some accounts (especially Bitcoin) generate multiple addresses that can complicate tracking

To have a complete tax history, you will likely need to supplement Ledger Live data with other sources.

Blockchain explorers

For each blockchain where you hold assets, you can consult the corresponding explorer:

How to obtain your public address:

1. In Ledger Live, select the account
2. Click "Receive"
3. Confirm on your Ledger device (recommended)
4. Copy the displayed address
5. Paste it into the corresponding explorer

If you need a more detailed guide on using explorers to supplement your history, our Metamask export guide explains the process for Etherscan and other EVM-compatible explorers.

Exchange histories

If you transferred cryptocurrencies from exchanges to your Ledger, you need those histories to know the original acquisition price.

For example, if you bought 0.5 BTC on Binance at €25,000 and transferred it to your Ledger, you need the Binance record to know your acquisition cost was €12,500. Ledger Live will only see an incoming 0.5 BTC without price information.

Our complete guide to exporting Binance history explains exactly which sections to export and how to consolidate the data.

DeFi operation records

If you have used your Ledger with DeFi protocols via WalletConnect:

1. Identify your Ledger addresses on each network
2. Check each address in the corresponding explorer
3. Export token operations and internal transactions
4. Cross-reference the data with the Ledger Live export

Once all the data is exported, you need to process and structure it for your tax return.

Step 1: Consolidate all sources

Create a master spreadsheet that includes:

• Ledger Live export
• Blockchain explorer exports
• Exchange histories where you originally purchased
• Records of any DeFi operations

Step 2: Unify date formats

Ledger Live exports dates in ISO format (YYYY-MM-DD HH:MM:SS) in UTC. Make sure to:

1. Convert all dates to the same format
2. Adjust to Spanish time if necessary (UTC+1 in winter, UTC+2 in summer)
3. Verify operations close to year-end (they may belong to a different tax year)

Step 3: Classify each operation

Each operation must be classified into a tax category. This is where many users make mistakes that can be costly. Proper operation classification is essential.

Main categories:

Step 4: Establish acquisition cost (for FIFO)

To calculate gains using the FIFO method, you need to know the acquisition cost of each unit:

Practical example:

1. 01/03/2024: You buy 0.1 BTC at €40,000/BTC on Binance = €4,000
2. 15/03/2024: You transfer 0.1 BTC from Binance to Ledger (cost: €4,000)
3. 01/06/2024: You buy 0.05 BTC at €60,000/BTC on Kraken = €3,000
4. 10/06/2024: You transfer 0.05 BTC from Kraken to Ledger (cost: €3,000)
5. Total in Ledger: 0.15 BTC with a weighted average cost of €46,667/BTC

If you sell 0.08 BTC on 01/09/2024 at €55,000/BTC:

• Sale price: 0.08 × €55,000 = €4,400
• FIFO cost: 0.08 × €40,000 = €3,200 (first purchased)
• Capital gain: €1,200

Step 5: Calculate investment income

For staking rewards:

1. Identify each reward received in the CSV (REWARD type)
2. Find the market price of the token at that exact moment
3. Calculate the EUR value: amount × price
4. Sum all returns for the year

Example:

• 15/04/2024: You receive 0.5 SOL from staking (SOL at €120) = €60
• 15/05/2024: You receive 0.5 SOL from staking (SOL at €150) = €75
• 15/06/2024: You receive 0.5 SOL from staking (SOL at €140) = €70
• Total Q2 returns: €205

Step 6: Document deductible expenses

Network fees (gas fees, transaction fees) are deductible expenses:

• Add up all fees paid in EUR
• Group by operation type if necessary
• Fees from exempt operations (internal movements) are not deductible from gains

Multiple accounts of the same asset

Ledger Live allows you to create multiple accounts for the same cryptocurrency (for example, several Bitcoin accounts). This is useful for organizing funds but complicates FIFO calculation.

Tax treatment:

The AEAT considers all your cryptocurrencies of the same type together, regardless of which account they are in. FIFO applies to the total.

Recommendation:

If you have multiple accounts, consolidate the entire history into a single chronologically ordered spreadsheet before applying FIFO.

Firmware updates and missing history

Some users report that after updating Ledger firmware or reinstalling Ledger Live, the history appears incomplete.

Solution:

• The history is on the blockchain, not on the device or the app
• Fully resynchronize each account
• If older operations are missing, use blockchain explorers as a backup
• Always save copies of your CSV exports before updating

Ledger Recover and tax considerations

Ledger Recover is an optional seed phrase recovery service. From a tax perspective, using or not using this service does not change your obligations: the cryptocurrencies remain on the blockchain and are still considered abroad for model 721 purposes.

Migration from another device

If you migrated from an older Ledger Nano S to a Nano X or Stax, or from another hardware wallet brand:

• The addresses are the same if you used the same seed phrase
• The full history remains on the blockchain
• Ledger Live will display the history when adding the accounts
• There is no tax implication from the physical migration of the device

Based on our experience processing hundreds of wallets, these are the most common errors.

Mistake 1: Assuming Ledger Live contains the full history

If you have used DeFi by connecting your Ledger to dApps, those operations may not appear fully in the Ledger Live export.

Solution:

• Identify all networks you have used
• Check your addresses in the corresponding explorers
• Cross-reference the data with the Ledger Live export
• Document any discrepancies

Mistake 2: Not considering the origin of cryptocurrencies

Ledger Live records incoming transactions but does not know the purchase price if you acquired crypto elsewhere.

Solution:

• Keep records of all your original purchases
• Link each Ledger deposit to its corresponding purchase
• Retain exchange histories even after transferring

Mistake 3: Confusing staking with savings without returns

Some users believe staking is like “having money in the bank” and is not taxable. Wrong: staking rewards are investment income.

Solution:

• Identify all rewards received (REWARD type in the CSV)
• Value them at the market price at the time of receipt
• Declare them as investment income

Mistake 4: Ignoring swap operations

Swaps performed within Ledger Live are taxable exchanges that generate a gain or loss, even if you never converted to euros.

Solution:

• Review all SWAP-type operations
• Calculate the gain or loss for each
• Include them in your capital gains declaration

Mistake 5: Not saving transaction hashes

The transaction hash is irrefutable proof on the blockchain. Without it, it can be difficult to demonstrate details to the tax authority.

Solution:

• The Ledger Live CSV includes hashes; keep it
• You can verify any operation by pasting the hash into the explorer
• Keep these records for at least 4 years (preferably 6)

Mistake 6: Not filing model 721 because you use a hardware wallet

The most dangerous mistake. Some users believe that because their crypto is “at home” on their Ledger, they do not need to file model 721.

Reality:

Cryptocurrencies are on the blockchain, not on the device. They are considered abroad. If they exceed €50,000 as of December 31, you must file model 721. Penalties for not filing are severe, as we explain in our guide on mistakes when declaring cryptocurrencies.

Once all data is processed, structure a clear report for your tax filing.

Recommended report structure

1. Executive summary:

• Tax period: 01/01/2024 - 31/12/2024
• Devices: Ledger Nano X (or the one you use)
• Accounts analyzed: Bitcoin, Ethereum, Solana, etc.
• Total operations: XXX transactions

2. Capital gains:

3. Investment income:

4. Deductible expenses:

5. Balance as of December 31:

6. Model 721 obligation:

• Total balance as of 12/31: XXX,XXX€
• Exceeds €50,000?: Yes/No
• First filing or variation > €20,000?: Yes/No
• Obligation to file 721: Yes/No

Supporting documentation

Keep for at least 4 years (recommended 6):

• Original Ledger Live CSV files
• Supplementary explorer exports
• Source exchange histories
• Screenshots of the export process
• Spreadsheets with processing and calculations
• Historical price sources used
• Final tax report with detailed operations

Exporting and processing Ledger history is manageable for users with simple activity: few transactions, mainly holding and some staking.

But there are situations where the complexity justifies a professional portfolio analysis service:

Scenarios requiring specialized expertise

• High transaction volume: More than 100 transactions per year
• Active DeFi activity: You used your Ledger with multiple protocols
• Multiple blockchains: You operate on more than 3–4 different networks
• Incomplete history: You lost records from closed exchanges
• Complex operations: Liquidity pools, yield farming, bridges
• Tax authority request: You need documentation to respond to the AEAT
• Regularization: You want to declare previously undeclared years

What a professional service provides

At Cleriontax, we offer specialized services that include:

• Portfolio analysis: Importing and consolidating all your Ledger, exchange, and DeFi data
• Tax settlements: Accurate calculation of gains using the FIFO method in compliance with AEAT regulations
• Portfolio tracking: Ongoing monitoring to keep tax information always up to date
• Specialized tax advisory: Resolving doubts and optimized tax planning

Our team uses proprietary data engineering methodologies that allow us to process large volumes of transactions with precision. Each report includes full operational detail with blockchain hashes for maximum traceability.

Correctly exporting your Ledger history is a fundamental step to meeting your tax obligations without surprises. The key lies in:

• ✅ Exporting from Ledger Live regularly: Don’t wait until year-end
• ✅ Supplementing with explorers: Especially if you use DeFi
• ✅ Keeping source histories: The exchanges where you bought
• ✅ Correct classification: Each operation type has a different treatment
• ✅ Applying FIFO rigorously: First purchases are first sales
• ✅ Valuing rewards when received: Not when sold
• ✅ Documenting everything: Hashes, screenshots, price sources
• ✅ Filing model 721 if applicable: Hardware wallets do not exempt you

Your next step

If you have followed this guide and exported your data but feel overwhelmed by processing, classification, or FIFO calculations, contact us.

Our team of cryptocurrency tax experts can process your Ledger history and generate a complete, verified tax report ready for your filing.

Request your Ledger portfolio analysis

Comply with the tax authority with the peace of mind that everything is properly documented.

You may also be interested in: Explore our blog for more practical guides, including how to clean and prepare your datasets before filing or the best tools to track your crypto portfolio.

Disclaimer: This article is for informational and educational purposes only. It does not constitute personalized tax advice. Tax regulations are subject to change and each personal situation is unique. Always consult a licensed professional tax advisor before making tax decisions. Cleriontax is not affiliated with Ledger SAS.

Last updated: December 2025

Published by: Cleriontax Team - Experts in Crypto Taxation and Data Analysis