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Questions tagged [cryptocurrency]

A cryptocurrency is a digital or virtual currency that uses cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership.

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Can I set GnuCash to denominate everything in a security (Bitcoin)?

I have all my personal finances in GnuCash. EUR is now my main currency. The menus allow me to set the main "currency" to, naturally, currencies. I have bitcoin as a security. Can I set my ...
Marnix's user avatar
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4 votes
0 answers
2k views

I know it's a scam, but what is it?

From time to time I receive a message on Twitter like the following: tavis Login URL...eth0033.c o m login name...Adam1986 password...1986Adam assets≈41BTC Help me transfer 0.7btc to your brother ...
SQB's user avatar
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3 votes
0 answers
73 views

Why less leverage is allowed for cryptocurrency Spot trading?

I realized brokers and exchanges allow high leverage for Futures, Options and Forex listings but not so much for spot listings. For example in Kraken Futures you can get 50x leverage for BTC-Perpetual,...
Ömer Kurttekin's user avatar
3 votes
0 answers
91 views

Do I need to declare capital gain when buying BTC to trade for another coin?

In 2017, I wanted to by XRP. There was no way to buy XRP with fiat, only with BTC. So I first bought 1 BTC for $20,000 I immediately sent that 1 BTC to an exchange so I can trade it for XRP. The ...
Ok_Selection_505's user avatar
3 votes
0 answers
52 views

Can I reduce the capital gain on which I have to pay taxes if the previous year I had big losses?

Suppose this year I have a capital gain of 200 thousand pounds, but last year I had a loss of 50 thousand pounds... this year can I pay taxes only on 150 thousand pounds of capital gain? And what if ...
user1883212's user avatar
2 votes
0 answers
25 views

Does asset custodian matter when determining which capital gains lot you sold? (USA)

Say you bought N shares of some company at broker X on Jan 1, 2021. You bought N more shares of the same company at broker Y on Feb 1, 2021. Then on March 1, 2021, you sell N shares with broker Y. For ...
tsj's user avatar
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2 votes
0 answers
44 views

Stepped-up Basis with a Revocable Living Trust

Scenario is this: son was trustee and invested extra savings in cryptocurrencies while father was alive and not able to make his own decisions. A few additional cryptocurrencies were purchased after ...
NealWalters's user avatar
2 votes
0 answers
214 views

OHLC anomalies on Yahoo Finance's data

While looking at BTC-USD data on Yahoo Finance, I was puzzled by the following: Date Open High Low Close* Adj Close** Volume Apr 06, 2017 1,129.87 1,201.55 ...
Rodrigo de Azevedo's user avatar
2 votes
0 answers
329 views

Tax rate of bitcoin trading for non-resident alien

I'm an international student holding F1 visa in the states. I find information on the IRS page which says non-resident aliens are subject to 30 percent flat rate for capital gains. Does this rate ...
Curran's user avatar
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2 votes
0 answers
209 views

Should non-citizens pay gift tax for sending bitcoin to non-citizen living abroad?

I am non-us citizen (an international student) but resident alien for tax purposes. If I send my bitcoins to my family living abroad, should I pay the gift tax? I read articles but they say 'us ...
SSS's user avatar
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1 vote
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New job turned out to be scam to use received money to buy then sell bitcoin-how do i fix when money is gone?

I accepted a remote secretary position recently, gave my bank information for direct deposit paychecks. It went from he's supposed to mail secretary office supplies to me to asking me to buy bitcoin ...
Jcr6334's user avatar
  • 11
1 vote
1 answer
286 views

Sending money from USA to Cuba or Russia via bitcoin

Suppose you an in a country (such as Cuba or Russia) where US credit cards and wire transfers don't work. You run out of cash and need money. Is it possible to transfer some money from a US bank or ...
Physiker's user avatar
1 vote
0 answers
126 views

Money sent to suspended cryptocurrency account at an exchange

I have a cryptocurrency account at Binance account. However, as Binance no longer supports SEPA transfers, I recently opened another cryptocurrency account at advcash. Before opening the account with ...
Ahmad Turani's user avatar
1 vote
0 answers
71 views

How to calculate the capital gains with cryptocurrencies, to be correctly taxed in France?

I have been investing recently in cryptocurrencies, and if I were to make any profit, the capital gains will have to be taxed. If I have losses, I must also declare them properly. I am located in ...
untreated_paramediensis_karnik's user avatar
1 vote
0 answers
59 views

Is me sending some Bitcoin to a Tor service a transaction? Or only when I buy something with those Bitcoin from the Tor service?

I've started recording all my money transactions, be them fiat or Bitcoin. Now I wonder how to record the following situation: I have an existing 0.05 BTC in my Bitcoin Core wallet running on my ...
Tomy's user avatar
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1 vote
0 answers
234 views

Algorithm to minimize capital gains tax

I've made thousands of cryptocurrency trades and have them in a CSV file with the necessary fair market values. I'd like to use the specific-shares cost basis method to minimize my gains. Is there a ...
ma11hew28's user avatar
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1 vote
0 answers
69 views

Daily spread measure for products in crypto exchanges?

I'm now trying to trade in crypto, and I want to get a measure of the liquidity of products listed in exchange. Trading volume is a good measure, and easy to obtain. Spread is also a good measure, ...
ZK Zhao's user avatar
  • 111
1 vote
0 answers
64 views

Holding Period Algorithms and the Blockchain

According to this interview, taxation holding periods in the United States for cryptocurrency can be determined by FIFO (First In First Out), LIFO (Last In First Out), or a more flexible option called ...
user82252's user avatar
0 votes
0 answers
29 views

Tax Calculation for Liquidity Pool Transactions: Cost Basis Method and Procedures

I've been encountering difficulties in calculating taxes on transactions related to liquidity pools. Despite using Coinledger, I've found it doesn't support multiple transactions within a liquidity ...
Summer's user avatar
  • 103
0 votes
0 answers
68 views

52 week price range for USDC

I am looking at the 52 week price range for USD Coin and it shows 52 Week Range: 0.9874 - 2.3496 Since it is pegged 1:1 to USD, how did it go all the way to $2.3496?
Sandeep's user avatar
  • 109
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0 answers
29 views

How to submit self-competed 8949 form with TaxAct?

my wife and I are using TaxAct to file our US tax return for 2021. I have a handful of crypto transactions that I made last year - there are about 8 transcactions and the total volume is ~$600. I have ...
Time4Tea's user avatar
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0 votes
0 answers
36 views

Order Book ASK - which BUY orders are serviced first at cryptocurrency exchange

New to trading. I came across the concept of an "Order Book". MY UNDERSTANDING My understanding (when going LONG) is that a trade ONLY takes place if the BID Amount >= the ASK Amount - ...
Casey Harrils's user avatar
0 votes
0 answers
155 views

Are amounts of less than a cent legally valid amounts in currencies like EUR or USD?

The following can be applied to any currency but let's consider EUR/USD for simplicity. In the context of cryptocurrency exchanges, one can hold assets for the value of thousandths of a dollar or even ...
Jorge's user avatar
  • 101
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0 answers
76 views

Calculations for my Portfolio

First excuse my maths and limited finance knowledge. I am testing investing in crypto and trying to calculate my ROIs, Profit/Loss etc and getting stuck a bit and was wondering if anyone can help! ...
user3052526's user avatar
0 votes
0 answers
133 views

Cryptocurrency Exchange: Does coinbase charge you for gas fees?

I'm reading this article which says coinbase could charge you for gas fees. However, when Ethereum gets congested, Coinbase will charge you for gas fees too. When it comes to gas, Uniswap and ...
nz_21's user avatar
  • 201
0 votes
0 answers
74 views

What is the difference between Tether & USD Coin?

How are Tether (USDT) & USD Coin (USDC) different and what advantage is there to using one over the other or are they the same? Tether has a somewhat shady past & is no longer backed 1:1 by ...
jastako's user avatar
  • 101
0 votes
0 answers
90 views

Will employees paid in Bitcoin, etc be subject to capital gains upon transferring to fiat in the US?

A company is able to pay its employees either partially or at 100% in Bitcoin. The company reports and withholds the appropriate USD equivalent on the employee's tax return. If the employee holds the ...
Josh Hibschman's user avatar
0 votes
0 answers
51 views

Are uninsured financial institutions riskier places to keep my wealth, now that cryptocurrencies make embezzlement easier?

Suppose that one or more high-level officers at a stock brokerage, or other retail financial institution, decide to embezzle most of the assets held there. The embezzlers liquidate the assets into ...
NotAnAccountant's user avatar
0 votes
1 answer
338 views

Trading Crypto With My Bank Account

I want to be a crypto trader and trade cryptocurrencies with my bank account. How it works is the seller would put his coins into an escrow account, the buyer will transfer him the money, and then the ...
Benjamin2002's user avatar
0 votes
1 answer
221 views

Taxation of capital gains by USA from cryptocurrency of Russian student on an F-1 visa

I am from Russia and I currently study in the US on F-1 visa. Last year I did some cryptocurrency trading which is taxed as capital gains in the US. US-Russia tax treaty says that: Capital gains on ...
Ivan Ivanov's user avatar
0 votes
2 answers
210 views

Isolated Margin

This question about leverage mentions "Isolated Margin". A bit of googling leads me to think it is some crypto idea. The explanations I can find just states that the risk can be limited to ...
JenserCube's user avatar
-1 votes
1 answer
73 views

How do I determine the division of cost basis for multiple NFTs minted in a single transaction?

I understand (I think) how to assign cost basis (for income tax) to ordinary minted NFTs: Convert the minting price (including gas, fees, etc.) in cryptocurrency to dollars using the market rate at ...
Robert's user avatar
  • 499
-3 votes
1 answer
308 views

USDT Staking on Binance - the offer too good to be true? What could go wrong?

Binance is currently offering around 24-26% interest when staking USDT with daily payout. The offer looks extremely good to me, but I wonder if I am not seeing or underestimating the corresponding ...
Sybil's user avatar
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