A label tells Blockpit what a transaction is for tax purposes: a purchase, a Transfer between your own wallets, a staking reward, a Fee. Without the right label Blockpit cannot calculate correctly. Integrations set most labels automatically, you add the rest yourself.
How do labels work?
Every transaction starts as one of two basic types: deposit (incoming) or withdrawal (outgoing). As long as it has no more specific label, Blockpit shows the tip Unlabeled (In) or Unlabeled (Out) so that nothing slips through.
If a withdrawal and a deposit belong together, for example with a swap or when moving between two wallets, they are connected (merged) into one transaction: a Trade, Transfer or Token Migration.
Can I create transactions without a label manually?
No. If you create a deposit or withdrawal manually, you choose a label right away. For example, you create a deposit of fiat or crypto with unknown origin directly as Non-Taxable (In).
Unlabeled can only occur for transactions that an exchange, wallet or CSV/Excel integration has imported.
Which labels are there?
ℹ️ Good to know: Since 14.07.2026 all labels are in German in accounts with the German language setting. Older articles and screenshots partly still show the other names, so the German name is listed here as well.
📥 Incoming transactions
English | German |
Non-Taxable (In) | Steuerfrei (Ein) |
Other Income | Sonstiger Ertrag |
Hard Fork | Hardfork |
Airdrop | Airdrop |
Gift (In) | Geschenk (Ein) |
Bounty | Bounty |
Receive Loan | Kreditaufnahme |
Staking | Staking |
Mining | Mining |
Masternode | Masternode |
Interest | Zinsen |
Cashback | Cashback |
Derivative Profit | Derivate-Gewinn |
Security Token Income | Security-Token-Ertrag |
Withholding Tax Refund | Quellensteuer-Erstattung |
Margin Profit | Margin-Gewinn |
Stock Sale | Aktienverkauf |
Prediction Profit | Prediction-Gewinn |
Close Perp | Perp schließen |
Auto-Balancing (In) | Auto-Korrektur (Ein) |
Unlabeled (In) | Fehlendes Label (Ein) |
📤 Outgoing transactions
English | German |
Non-Taxable (Out) | Steuerfrei (Aus) |
Payment | Zahlung |
Gift (Out) | Geschenk (Aus) |
Lost | Verloren |
Fee | Gebühr |
Derivative Loss | Derivate-Verlust |
Derivative Fee | Derivate-Gebühr |
Repay Loan | Kreditrückzahlung |
Withholding Tax | Quellensteuer |
Margin Loss | Margin-Verlust |
Margin Fee | Margin-Gebühr |
Stock Purchase | Aktienkauf |
Prediction Loss | Prediction-Verlust |
Open Perp | Perp öffnen |
Auto-Balancing (Out) | Auto-Korrektur (Aus) |
Unlabeled (Out) | Fehlendes Label (Aus) |
🔄 Incoming and outgoing connected
English | German |
Trade | Trade |
Transfer | Transfer |
Token Migration | Token-Migration |
Margin Trade | Margin-Trade |
Stake Transfer | Stake Transfer |
DeFi Transfer | DeFi Transfer |
▸ Stake Transfer and DeFi Transfer move staked assets or assets bound in DeFi into a sub-integration so that they stay visible in your portfolio.
What does Blockpit do automatically?
Exchange and wallet integrations recognize most labels themselves, for example Trade, Transfer, Staking, interest or Airdrop. Simple trades are also connected automatically.
🔗 Transfer is the most important label here: It carries your cost basis from one integration to the other. Blockpit usually connects matching withdrawals and deposits between two integrations automatically to a Transfer (auto-merged):
🔎 What Blockpit cannot assign clearly, it shows with the tip Unlabeled (In/Out). You label these transactions yourself, as described below.
Label and connect transactions yourself
You find all transactions without a label in Transactions with the filter Tip: Unlabeled Incoming/Outgoing:
💡 Tip: Additionally set the filter Asset Type, for example to crypto. This way you separate crypto movements from fiat deposits and withdrawals.
Label one or many identical transactions
▸ One transaction: via the quick menu on the label or in the sidebar
▸ Many identical transactions: select them and choose the label in the action bar (bulk labeling)
💡 Bulk labeling in Account Health
You also find all transactions with Unlabeled bundled in Account Health. There you filter similar transactions and label them with one click.
Connect or edit?
For trades, transfers and token migrations there are two ways. Which one fits depends on whether both sides are present in Blockpit:
Situation | Way |
Withdrawal and deposit are both in Blockpit | Merge: select both and connect them |
Only one side is in Blockpit | Edit: extend the existing transaction to a trade or transfer |
Connect two transactions (merge)
In brief
Select both counterparts via the checkboxes, choose Trade, Transfer or Token Migration in the action bar and click Merge. You undo it with Split Transaction.
Add one side (edit)
In brief
If the second side is missing, open the existing transaction via Edit, choose Trade, Transfer or Token Migration as the label and add integration, asset and amount of the counterpart.
⚠️ Warning: First check whether the counterpart is perhaps already there. Otherwise you create a duplicate.
AI Explanation: help with unclear on-chain transactions
✨ Blockpit Plus: For complex on-chain transactions, the AI Explanation analyzes what happened on the blockchain and helps you classify it. Available for Arbitrum, Ethereum, Solana, Polygon, BNB Smart Chain (BSC), Base and Optimism with Blockpit Plus.
How to use it
1️⃣ In Transactions, open the on-chain transaction and switch to the Details tab.
2️⃣ Click AI Explanation.
3️⃣ The AI writes a summary into the notes field, for example the breakdown of a swap or a bridge or a warning about dust attacks. An existing note is overwritten in the process.
4️⃣ If the assignment is clear, a button for the matching action appears below:
▸ Apply label suggestion: sets the recommended label, for example Staking or Airdrop
▸ Mark as Spam: removes suspicious transactions and scam airdrops
▸ Resync Transaction: loads a fresh version directly from the chain
ℹ️ Good to know: If the operation is not clear, the AI only writes the note, without an action button. Check every suggestion before you apply it.
Common mistakes
✗ Labeling a bank deposit as Trade → Blockpit calculates with a sale that never took place
✗ Labeling a Transfer between your own wallets as outgoing and incoming → a transfer becomes taxable events, the cost basis is lost
✗ Adding a missing side via Edit although it is already imported → duplicate, wrong balance
✗ Selecting incoming and outgoing mixed for bulk labeling → the label selection does not appear
Frequently asked questions
Which label do I use for money from my bank account?
Non-Taxable (In) for deposits, Non-Taxable (Out) for withdrawals to your bank account.
Why was my transfer not connected automatically?
Usually the time or amount differs too much, for example because of fees, or one of the two sides is missing. Then connect both sides yourself or add the missing side.
Can I still change a label later?
Yes, at any time. After the next calculation Blockpit calculates with the new label.
Blockpit does not provide tax advice. For specific legal questions, please contact a tax advisor.