Cold wallets (Ledger, Trezor) in Spain: do you need to declare what's in your hardware wallet?

Simply having crypto in a Ledger or Trezor doesn't generate taxes. But there are obligations many don't know about.

Equipo kointax·January 11, 2026·4 min read

Cold wallets in Spain: what to declare

Holding crypto in cold wallet = no tax event.

Model 172: Only for foreign exchange balances. Cold wallets are NOT exchanges. Cold wallet balances don't go in Model 172.

What you DO declare:

Import in kointax: Add wallet → select network → enter public address (NOT seed phrase/private key) → full on-chain history retrieved.

Acquisition cost of cold wallet crypto = original purchase price (not transfer price).

declaracrypto.es — FIFO, LIFO, HIFO or WAC method. 80+ compatible exchanges. Excel + PDF report ready for your tax return.

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