Slow week this week with the damn international breaks.
Has anyone invested in any bitcoin or cryptocurrency?
How did you go about it and how do keep it secure?
I'm not really worried about it fluctuating in price but before I invest I want to make sure that my details are not leaked as they seem to want every thing about your life on coinbase.
Crypto Thread-Bitcoin/ethereum/litecoin
posted 3 weeks, 3 days ago
comment by Bats Uncensored (U18355)
posted 31 seconds ago
Last time the $20k ATH was broken, Bitcoin dumped 9% on the same day
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I remember this
posted 3 weeks, 3 days ago
Stock market and NASDAQ is making crazy moves as well.
posted 3 weeks, 2 days ago
That shook out all the leverage buyers!
posted 3 weeks, 2 days ago
Next few days looks set to be very volatile
posted 3 weeks, 2 days ago
comment by Bats Uncensored (U18355)
posted 54 minutes ago
Next few days looks set to be very volatile
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What are you basing this on out of interest?
posted 3 weeks, 2 days ago
My brother put £100 in some coin called render about January last year. It’s worth about £1,600 now !
posted 2 weeks, 1 day ago
For those that have been lucky enough to make such profits, how difficult is the tax declaration process with crypto?
posted 2 weeks, 1 day ago
It depends what you are looking to take profits on and how much profits you are taking. If you do it in dribs and drabs, you could probably get away with evading tax all together. I have for the last 3 years anyway I know plenty of people who bought ‘crypto’ on Revolut too and were never pulled up for not paying taxes when they sold.
BUT if you want to do it legally, you would have to show revenue every transaction you have made leading up to the profit you are taking. And you get taxed on each of those transactions. If the profits are from leverage trading then you have to pay 50% tax. 33% capital gains tax for taking profits the old fashioned way.
I just withdraw my profits onto my Crypto.com card so none of the Irish banks I use even know I have crypto, never mind made money from it. Hopefully I’ll be living in a tax free haven before the government find out.
posted 2 weeks, 1 day ago
In the U.K. it depends on the way you invest really.
If it was a one off punt and you put, say £100 in ten years ago then the Inland Revenue would probably look at that as just a gamble that paid off.
If you have traded though - bought on a regular basis - then they tend to look at you as a trader and you will need to declare it.
But if you keep your gains within the CGT limits you can get away with taking some profit without paying tax.
posted 2 weeks ago
comment by Bats Uncensored (U18355)
posted 15 hours, 50 minutes ago
It depends what you are looking to take profits on and how much profits you are taking. If you do it in dribs and drabs, you could probably get away with evading tax all together. I have for the last 3 years anywayI know plenty of people who bought ‘crypto’ on Revolut too and were never pulled up for not paying taxes when they sold.
BUT if you want to do it legally, you would have to show revenue every transaction you have made leading up to the profit you are taking. And you get taxed on each of those transactions. If the profits are from leverage trading then you have to pay 50% tax. 33% capital gains tax for taking profits the old fashioned way.
I just withdraw my profits onto my Crypto.com card so none of the Irish banks I use even know I have crypto, never mind made money from it. Hopefully I’ll be living in a tax free haven before the government find out.
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Regarding transferring profits to crpyto.com card, that's what I plan to do this time around. Surely that can't be traced?