Do traders pay income taxes?

[chayskie04]

I'd like to start trading, but what happens when you get profit from a new coin? you pay taxes as individual (like capital gain) or you must open a registered company?

Share your thoughts, about this. I hope some people will help me to make these things clear.

[zenbook]

Cryptocurrency traders are usually only required to pay taxes on their profits, however it is quite difficult to track how much profit these people are earning, therefore there is a lot of scope for underestimation of tax owed, whether intentional or otherwise. However, a lot of exchange actually report directly to the IRS, so it might not be long until they get an unpleasant surprise.

[Speaker]

Now I do have not earned in order to sell something, and especially to pay taxes. We do not have the official status of cryptocurrencies, the laws are still being developed.

[ayatoslaw]

if I am in your position, I will buy another coin that has a good future, and with that profit I can also trade, so I can do both without leaving one. because in cryptocurrency you can make money without having to spend money. How to? follow the airdrop and bounty, then you can trade the results, or make an investment into another coin.

[hyipmentor]

i think you should give taxes from your profit .currently crypto is not regulated so far so u dont need to pay taxes

[Noobaru]

Depends on the country, really. Some have legislations that allow traders to not pay any taxes and some try to enforce paying for "capital gains" as they call it. I think mining is pretty much everywhere taxed, but as I said, trading is not.

[DogeTalk]

Tax will not make us poor. if the trader has gotten a profit, there will be no problem paying taxes. it is in accordance with the regulations in each country.

[Bolasodok86]

currently traders have not paid taxes, and this is a very good opportunity to trade or invest in the long term.

[mahadev]

I'd like to start trading, but what happens when you get profit from a new coin? you pay taxes as individual (like capital gain) or you must open a registered company?

Share your thoughts, about this. I hope some people will help me to make these things clear.

I think You should pay taxes from your profits as a trader. It is good way to be good citizen

[skjude001]

I'd like to start trading, but what happens when you get profit from a new coin? you pay taxes as individual (like capital gain) or you must open a registered company?

Share your thoughts, about this. I hope some people will help me to make these things clear.

However, a lot of exchange actually report directly to the IRS, so it might not be long until they get an unpleasant surprise. it is in accordance with the regulations in each country.so it might not be long until they get an unpleasant surprise.

[Meysa123]

I think until now the traders have never paid taxes, and this is what many people like to do in trading crypto currencies.