What happens when we sell our crypto in profit

[MARAMBEN 278]

There are many people who sold their digital currencies as soon as the epidemic appeared. We in Africa there are banks and banks that we could not withdraw from them, but I naturally do not put my money in banks I keep it at home whenever I need it I find it in front of me

[muniral4422 185]

I am sure that crypto world can handle huge sells and still not affect the price. There are people at every point who are buying crypto currencies. As long as there are buyers you do t have to worry about that, the price wouldn't fall.

[The Game 2059]

Actually it depends on your country and how they will charge you on tax issues. But in my own ideology after selling my crypto in profit I will invest in another currencies instantly, when the price have hit up then I will put it for sell and add another profit again.

[wassim19 645]

I think that the digital currency was created in order not to be encouraged by the banks because you can convert it into US dollars and keep the profits in the portfolios and you are not exposed to any legal liability or taxes on your profits, and you can withdraw through various electronic banks

[yonkii 3205]

On 12/22/2019 at 10:35 PM, Maxtron73 said:

Wondering what will happen after we decide to sell our crypto assets after a strong rally and we put back our money on bank account ? Who knows what taxes we will pay or if we will pay. Obviously this depends on each state that has their own laws and regulations. I live in europe and so my earnings could be taxed in a different way from another state .

I wonder the same but the taxes shouldn't be too much if you don't have other income and if your withdrawals are limited and not like $100k euro. If it is like that then you should declare income tax from internet activities or trading.

[mahdititus16 216]

when we sell our crypto in profit a lot of things will happen for example i will explain about that just read my comment First of All i did not see a rally after 2017. Most of us are waiting too much for bitcoin rally or alts rally. So just to have some little money earned from airdrops i am happyvto have it. And amountvi earning is not in the range of taxable income , so that all i have about what yo asked brother so good luck .

[Raven 7817]

On 12/23/2019 at 4:35 AM, Maxtron73 said:

Wondering what will happen after we decide to sell our crypto assets after a strong rally and we put back our money on bank account ? Who knows what taxes we will pay or if we will pay. Obviously this depends on each state that has their own laws and regulations. I live in europe and so my earnings could be taxed in a different way from another state .

Actually, the transaction can be tracked but if you used exchange site for it then it will be traced. If you used exchange for the withdrawal of your bitcoin then it will be traced on it. All transactions has fees so you need to choose what coin has the smallest withdrawal fee for you to save money.

[Sarahden111 1231]

This matter would have remained, but in this year a lot of things changed, for example the most famous digital bank in the world began to add the feature of storing, selling and buying through it to cryptocurrencies, and there is the Perfect Money Bank and Payeer as well.

[Nicole018 4548]

This is an important piece of information that each user need to know when they make huge transactions involving huge funds into their bank account. When you have good amount of cryptocurrency is in your possession it won't it be taxable. Where as when these cryptocurrencies are transferred into to local currency and deposited in the bank account chances are this might be taxable.

[Nila2020 393]

Everyone trades in the hope of making a profit. We get a lot of money from this cryptocurrency. If you want to work in this forum, you can't have any greed. You also have to be honest and work hard. You must respect this forum.

[Teminali69 1081]

5 hours ago, Corybarlog said:

First of All i did not see a rally after 2017. Most of us are waiting too much for bitcoin rally or alts rally. So just to have some little money earned from airdrops i am happyvto have it. And amountvi earning is not in the range of taxable income.

I do not know how you missed it but there was a big rally at 2017 that took bitcoin to the price of 20k, a record that was not broken till now 3 years have passed, so 2017 deserves some credits.

[Lokeloke 576]

On 12/22/2019 at 9:35 PM, Maxtron73 said:

Wondering what will happen after we decide to sell our crypto assets after a strong rally and we put back our money on bank account ? Who knows what taxes we will pay or if we will pay. Obviously this depends on each state that has their own laws and regulations. I live in europe and so my earnings could be taxed in a different way from another state .

Definitely it's varies based on respective countries, because some countries is yet to acknowledge the existence of cryptocurrency, not because they haven't heard about it but because they felt threatened considering when it comes to the currency of their nations and some acknowledged but yet to approve them officially

[Ryken8 545]

On 12/23/2019 at 4:35 AM, Maxtron73 said:

Wondering what will happen after we decide to sell our crypto assets after a strong rally and we put back our money on bank account ? Who knows what taxes we will pay or if we will pay. Obviously this depends on each state that has their own laws and regulations. I live in europe and so my earnings could be taxed in a different way from another state .

Yes it depends on the regulations in your country of origin. However, currently these regulations for cryptocurrency in most countries are still in the works or does no exist hence it depends on how you declare these gains or profits in your filling of income tax.

[mzk7736 1592]

If you were profit is small then I don't think it's going to be a problem for you because there is less tax on small transactions. but if you were profit is huge then I  recommend you to keep it in your exchange or crypto wallet.

[Amir bhai 464]

When we sell our crypto in profit then we earn lots of money and then we ready to invest lots of money on crypto trading and this is best way to invest and this gives lots of profit due to which we can earn lots of earning. This is best and easy way to earn 

When crypto currency  is sold at profit then it gives us happiness and lots of profit due to which we invest it again to earn lots of profit so this is easy and best way to earn lots of money

[Malik9532 1276]

According to your topic  when we sell our crypto in profit . Exactly everyone feel happy when they get  profit . I think there are no person who don't feel happy getting on profit from anywhere .

[Mohammad Feyaz 615]

Well there is advise for you is that make transactions but in short amount as if u have been caught being in such huge amount then no doubt u would be accountable for that. So avoid them otherwise u would be in a big difficult

[Pranto1 40]

Of course it depends entirely on the control of all countries.  If the tariff is OK we compromise to pay.  However in crypto the discussion is subject to transaction fees which are usually for miners.Until then, you should take advantage of the puppet government of malnourished honor, as well as make it mandatory to give the impression of income authority.

[teebasas 3018]

I believe this depends on the region in which you live. I sell my currencies when their price increases and converts them into real money. When the price falls again, I buy and store more digital currencies and thus win the money.

[Serbberq 724]

When ever we buy and sell and make profits we become happy and also make another purchase because the previous transactions motivate us to do more and trading will become part of us and life changes with trading crypto transactions. 

[Wanderdark 2178]

Many countries are on the final phase of the regulations and taxation of the cryptocurrencies.

 

Recently South Korea announed their new taxing system and it caused some commotion because it was way too high. (%20-25)

 

Many more countries are follow to tax your profits. If these rates are determined as high too, I think many people will start looking for ways to avoid these taxes. 

[Sir Lyman 399]

Selling our crypto and making profit is a good idea actually but converting our money into fiat and leaving it our various bank account will attract more tax and the government does not care about how much you have they will still remove their tax as long as the money is in the account.

[MK AHMAD 1134]

It's depends on the amount of profits you earn at that particular time and it also depends on amount of tax been paid then the type of place or country in which you live, like most of us who are making trading and investment with little income or capital I don't think it has a huge impact to us 

[David miller 420]

Personally my point of view if they are selling cryptocurrencies in profit there are the situation that's we be appreciated, and most important new comer is a trading big and small profit and only start like and not. 

[Abideen 659]

Well said mate, infact you have came up with a right decision. But to my seen, I think no matter how high a tax is in Europe, you will end up having something good to go about with because taxes alone cannot exhaust the whole money you have earn from cryptotalk. That is my take.