Am taxed se.ll my bitcoin on coinbase gdax account

Описание: Am taxed se.ll my bitcoin on coinbase gdax account
Good qution. There are literally hundreds of options. To answer this with any logic, you need to assess what your goals are and decide if you think BTC will be something you want to hold for the long term. You also need to calculate the cost of se.lling your BTC in relation to the tax issue. Se.lling is a taxable event. Timing is also of critical importance. I know I plan to capture some prots myself but I will probably not be se.lling any BTC for another 8 months at minimum. As you probably know, the BTC price chart follows a 4 year cycle peak to peak. The last peak was Dec. 2017. Add 4 years and that gives us Dec. 2021. Remember the 4th year of the cycle has always been the massive Bull run for BTC and the Cryo sphere in general. Historically the price corrects in a major way after the 4th year completes and the correction can last from 1 to 1.5 years. So getting the timing correct when you se.ll is going to determine just how well you do. Also remember that no one times it perfectly all the time. Buy the bottom and se.ll the top is a great coept, but no one always does it perfectly. The Idea of dollar cost averaging in and dollar cost averaging out has a lot going for it. To get an idea of when to make the moves, it is important to zoom out. Look at the long term log chart of BTC and wait for it to get into overbought territory on the monthly chart before you se.ll. Then keep some of those prots to buy back in sometime in 2022 when it gets over sold. Because if it follows history it will get oversold in 2022 and there will be another great buy the dip opportunity. Also, if you are on Coinbase and you are like me, you have probably purased other assets besides just BTC. Some of the assets on Coinbase, like Celsius for instance, specialize in lending programs. Now you have to be cautious with this idea because there are sms out there that will get you to loan them your BTC and you end up never being able to get it back. But there are reputable platforms as well. Do your hom.ewor.k before you move or se.ll or loan your Cryo. The good news is that transferring your BTC from one exchange to another or from an exchange to a wallet is not a taxable event. So you can move it and keep it safe in the mean time without owing Uncle Sam until you actually se.ll it. In my experience I would co.nsider the following exchanges, wallets, safe places to transfer your BTC to. Gemini, Exodus wallet, Atomic Wallet. Each of these are reputable and secure as far as I know. There are certainly others that would be good, but I have only tried these. I also have a Robinhood account but not only would I NOT want to put any more assets on Robinhood, I do not think it is possible to move a cryo to Robinhood with out first co.nverting it to cash, and the same goes for taking your wealth off of Robinhood. There is no easy way as far as I know. You just have to se.ll and then move the cash. Whatever you do make sure you completely check out the options you are co.nsidering and make an exit strategy so that you are not making hasty decisions when you get to the point where you think the Bull market is coming to an end. There are plenty of crazy videos out there that tell you what cryos to buy and how BTC is going to a Million. But there are few videos out there that even discuss exit strategy. This is something you really need to do some serious thinking. I am not the expert on this aspect and so I offer another source of information for you to co.nsider. Rob with Digital asset news is one of the most well rounded You tubers out there. He actually has a sight that gives you an awesome cryo education. Here is a link to his exit strategy on ETH which can apply to BTC as well. BTW. This is not financial advice. I write these answers because it makes me think more about how I will invt my hard ea.rned mon. ey. Please do your own hom.ewor.k and think hard before you invt in any thing or se.ll any of your invtments, and I hope this helps you think about it. Have a great day! Live long and prosper!