Cryptocurrencies are taxed in a lot of countries. Taxable events are usually trading, spending, and selling your cryptocurrency. Your taxes will vary depending on where you live, how long you've had your cryptocurrency, what you're doing with it, and other variables. Furthermore, you have to consider your capital gains and losses when calculating your taxes. If you get cryptocurrency as payment, you may be required to pay income taxes as well.

Cryptocurrency taxes aren't always straightforward. Crypto laws are still being developed by tax authorities worldwide. If your country hasn't established specific crypto taxation rules, you might expect your crypto revenues to be taxed according to their official classification. In this case, it is your own obligation to keep track of your taxable profits and losses and pay the right amount of tax in accordance with the regulations in your country. In order to be sure about your taxes, we recommend you to get advice from a tax professional who works in your country since every tax judgement is different. Tax authorities usually collaborate with cryptocurrency exchanges to trace crypto transactions. If you try to avoid paying taxes, you may face financial fines as well as heavier consequences.