How does one spend their earnings. Do they money it out to their financial institution? Do they money somewhat bit out and hold the bulk of their crypto pockets? I discover it troublesome to get easy helpful info. And what about taxes?
I talked to somebody who informed me they take a mortgage from the financial institution, and pay that off with their crypto earnings through paypal.
That’s up to you homeslice. Whatever gains you have, you have to pay taxes on it, less if you’ve held it for over a year. Other than that, it’s up to you. Buy a house or car if you want, or just sit on your stack.
I wouldn’t do any silly loans like your friend I would just cashout pay my taxes and use some of it to reinvest, that is, unless you need to build credit for a bigger loan in the future home/car
Fooey on your fiat profit! I’m using Bitcoin to live free.
> they take a loan from the bank, and pay that off with their crypto earnings via paypal
Sam and Caroline use that strategy, works really well
You can find local retailers who accept bitcoin as payment. You would have to pay capital gains tax on the asset appreciation.
You can use them to collateralize a loan. This has the benefit of not triggering a capital gains taxable event but you have to repay the loan with interest.
You can sell them man exchange and pay capital gains tax.
Great question!
If you investment was in Bitcoin, you now have money that no one can take away from you, steal secretly through inflation or prevent you from using. Congratulations! 🙂
If you investment was in Bitcoin, you now have money that no one can take away from you, steal secretly through inflation or prevent you from using. Congratulations! 🙂
If you investment was in Bitcoin, you now have money that no one can take away from you, steal secretly through inflation or prevent you from using. Congratulations! 🙂
depends how you see bitcoin.
if you think it s a shitcoin to gamble with, then sell it “at the top”.
if you use bitcoin for what it s intented, as a store of value and as a currency, then you can exchange it for goods when you need them.
or just make up your own usage. some just have it to brag. that s fine. bitcoin doesnt break. it doesnt care
you want to buy and sell bitcoin a million times a day? do it.
you want to ignore bitcoin? do it.
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tax stuff depends on the country in which you got to pay your taxes.
Whatever you do, don’t look at your investments go all the way up and then do nothing and watch it ride all the way down.
“Nobody ever went broke taking profits”. Sounded silly when I first read that. But it’s true.
Cash out. Invest in some fiat producing assets. Rebuy bitcoin from the fiat output. Repeat at the next top. Sounds so easy. But timing and emotion control is everything.