Do you have to pay taxes on cryptocurrencies?

[Yohanna]

I do not pay taxes in cryptocurrency because it is restricted in my country.

The government of my country has also kicked against crypto related activities.

 

[Shortie]

In my country, any money that you earn whether it be through PayPal, CashApp, Stripe or even Cryptocurrency has to be declared when you declare your earnings. Not doing so and being found out that you may have not declared a specific income could land you in a lot of trouble so it is always wise to declare all earnings you make.

 

[Yohanna]

In my country, any money that you earn whether it be through PayPal, CashApp, Stripe or even Cryptocurrency has to be declared when you declare your earnings. Not doing so and being found out that you may have not declared a specific income could land you in a lot of trouble so it is always wise to declare all earnings you make.

It is better to always follow the policies of the government so that it would not put yourself into trouble.

 

[Hate2Wait]

Yes we need to pay 30% taxe on our crypto even if we are not making any profit and that's why I am little scared of crypto

 

[Yohanna]

Yes we need to pay 30% taxe on our crypto even if we are not making any profit and that's why I am little scared of crypto

That's a huge amount of money and it seems the government are charging too much.