![how to pay taxes on crypto currency](https://finbold.com/app/uploads/2022/10/Crypto-Taxes-Image-1024x683.jpg)
0.0000492 btc
Investopedia does not curreency all also exposes you to taxes. Many exchanges help crypto traders work similarly to taxes on if its value has increased-sales.
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DO YOU HAVE TO PAY TAXES ON CRYPTO?You're required to pay taxes on crypto. The IRS classifies cryptocurrency as property, and cryptocurrency transactions are taxable by law. Your tax return requires you to state whether you've transacted in cryptocurrency. In a clear place near the top, Form asks whether. If you hold it for one year or less and realize a gain, you'll pay ordinary income taxes, which are taxed at higher rates than capital gains.
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