What happens when we sell our crypto in profit

[TheRaed 1247]

That is not a problem because you originally paid the fee while withdrawing money from the platform and I don't think it will make you pay again.

[Moaz 7239]

Taxation of the profits of the cryptocurrency differs from one country to another according to the laws and regulations of cryptocurrencies in that country, and there are countries that have no position with regard to crypto and therefore do not impose any taxes

[Izeal 4404]

The rules are different for different country. If you make very high profit then you have to pay the tax otherwise you won't have to pay tax. I would rather suggest you to trade them with stable coin and hold them until you invest in next coin.

[Guru2050 8284]

That's is when you can progress and continue with your trading gaining profits but trading and loosing every time means you are not competent enough and it will get to an extent you will loose the capital and no more trading. So try to put necessary things in to consideration before to buy and hold, the main essence of every trading is to make profits not to loose

Edited August 6, 2020 by Guru2050

[Draven06 494]

Yes it may differ on every country if the amount you have in your transaction is big it is taxable. But selling your assets in crypto will have a great profit specially if your asset has a big amount in the market.

[koussai999 1986]

The bank will not know that the money came from selling your assets in encryption. I think it will not impose taxes on you of this type, but I do not advise anyone to sell at this time because its assets from cryptocurrencies can be multiplied several times in the future.

[Tunuu 2235]

I will take some profit and continue with the business! I will reinvest again and wait for another profit, or i can wait for sometimes for the price to drop so that i can not risk my money in the next trade.

[iloveyobit 6599]

I don’t know about Europe or America, but in Africa and exactly in Algeria, there are no taxes on the profits generated from the internet at the moment. For that, I can say we are good.

[Sugibengi 390]

On 12/23/2019 at 3:35 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 each country, some are taxed, some are not taxed, in my opinion it doesn't matter, the most important thing is that cryptocurrency transactions are not prohibited in our country, so we can still trade and invest in the cryptocurrency world.

[yato987 2811]

indeed, but you can avoid the huge taxes if you don't transfer a big amount of your money , this way you will be able to put part of your money in the bank and keep the other part in your wallet until you use all the money in the bank then transfer again , i see this the best way to avoid the huge taxes

[Sykkuno 2887]

The taxes are different for the country you live, isn't this something obvious that every country has differences in taxation. So you have to tell us where you live and maybe someone from your country knows and can answer this question, otherwise 99,9% here will answer something that will not be correct.

[percare 3192]

Europe does not have something standard and you can find different taxation between countries. In Malta for example there is no tax for crypto. It also depends on how much you have to deposit. If this is a million you will have to prove how you made it so much. So maybe you have to contact the exchanges you used and ask for your trading history.

[bogdanoff 3173]

Most probably you will have to pay taxes but this is depending if you made a lot or only withdraw 100 dollars. You have to consult an accountant that you know and ask him to find the law that is applicaple in your country about income from investments in cryptocurrencies.

[Hamidul1234 6]

I like So as much as my income from crypto results has not been taxed, the tax system related to income from cryptocurrency has not yet been implemented yet.

[Flying11Horse 45]

You have a point @Maxtron73.All the taxes will eventually decrease your money slowly.So to prevent it transfer your money to a secure online wallet Like Paypal ,Payoneer and many more .Withdraw the amounts that you need only to your bank account.In this way you will be safe  from the burden of taxes.

[williamjones 57]

I do believe Once we promote crypto income that is wonderful for myself and it's also best for my own upcoming. plus it all hangs about each and every region manages. when taxed sure we need to payout. nevertheless, the swap with crypto will be at the mercy of purchase charges which can be typical regarding miners. sure, in the event the extramarital relationships with the lender are determined by our personal region.

[Cryptic 0]

I think the huge the amount you are going to put on your bank the high the possibility that you will have to pay a tax, better to make a low amount of transfer so that the tax will also be low. You could also save some for future use, like you are gonna trade then you don't have to get some money in your bank.

[khan22 3478]

When we sell our coins in profit we make set our life through that money beacsue so many peoples will change their life through he crypto coins and i hoe that soon the crypto market will make a great bull and at that time we make huge profit through this market.

[Onden 2098]

That's right, once I make a profit from trading cryptocurrency, I will convert it to fiat and then withdraw it, in this case in my country, has a tax code on crypto income so I have to pay taxes. Maybe every country will be different, some have to pay taxes, some don't need to pay.

[Irungu 4299]

Nothing much happens just enjoy the profit , there is nothing more that happens , you just have to keep it simple and know what would be the best for you in what you are trading/

Consistency in making profit is so much very important and we all need to really be sure of what is what and that is really important for everybody the most of everybody is to know what would be the best thing to do with the profit you take in.

[Gluttony 1775]

I guess if I am going to be asked about this my answer would be about the transaction fee. Since that is the only reason of why I am trying to see a better way of getting paid with at least not costing me too much. It would be great if I somehow managed to get most of my assets since that is what I am looking forward to happen because of my hard working throughout the time of being patient enough to wait of getting paid out of this. It will really make people bored and frustrated if it happens to get a lot of fee to cut their asset that is about to withdraw to flat currency.

[Mike1515 2977]

Crypto trading is profitable and according to you , what happens is that you just make profit to it , there is nothing else to it and am so happy to enjoy the profits that come with the trading itself and the truth is there is a lot of good that we have to enjoy with profit, the growth that comes with it and the perfect satisfaction to it.

[danynini 4]

En Europe ,aucune taxe n'est perçu sur les transactions profitable à partir de 305 euros d'échange en cryptomonaies sur une année fiscale. Haut dessus de cette somme vous êtes taxés. sauf peut être quelques exceptions comme en Andore ou les seuls taxes ont sur les importations

[williamjones 57]

We all absolutely save themself from our own income directly into financial institutions. Normally you will have simply no income to your perform. When you obtain individual funds directly into lender they are going to absolutely issue an individual in regards to the purchases and also use any duty. Yet invest your cash simply by tiny sum next it could seem to be being a typical purchase and may even an individual prevent the duty.

[danynini 4]

In Europe, no tax is levied on profitable transactions from 305 euros of crypto exchange over a fiscal year. High above this amount you are taxed. except maybe some exceptions like in Andore where the only taxes have on imports.