# Trading Crypto to Crypto

![](/files/mXKvwqVtX1QiirH76e7e)

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The exchange (swap) of one cryptoasset for another cryptoasset is a taxable disposal subject to capital gains tax (unless treated as a ‘[financial trader](broken://pages/FN7Zc9JdZItfMamVq57g)’ in cryptoassets).
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{% hint style="warning" %}
Only in exceptional circumstances will a taxpayer be treated as a ‘[financial trader](broken://pages/FN7Zc9JdZItfMamVq57g)’ in cryptoassets. In which case these disposals are treated as business trading income, subject to income tax and national insurance.
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## Tax Treatment for Crypto to Crypto Trades 

The disposal proceeds for capital gains tax purposes are the sterling market value of the cryptoasset disposed of.

This same value is treated as the capital gains tax acquisition cost of the cryptoasset acquired in the exchange (swap) trade.

![](/files/AZ3hdb3DutWE3uF4Ncub)

## Crypto to Crypto Trades in [Recap](https://recap.io/)

Recap has been designed from the ground up to work out the capital gains impact of every crypto-to-crypto trade.

1. Simply connect your exchange accounts or wallets through our automated integrations or enter your data manually via the user interface or CSV file. 
2. Recap automatically generates a disposal for the asset being sold and an acquisition for the asset being bought. All GBP valuations of the assets are determined by Recap's own market valuation engine using both foreign and cryptocurrency exchange rates.
3. See the tax impact of every trade (example below) in the tax tab or download a PDF tax report 

![crypto-to-crypto trade](/files/UiiwyI8AUfJ3IsPpH01P)


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