Crypto Taxes for Dummies
This post explains taxes for cryptocurrencies via 3 examples, and introduces the difference between FIFO & LIFO. These are artificial examples, and not advice.
Understanding the basics of taxes is important not just for paying taxes, but also to inform your trading strategy and to avoid unpleasant surprises. I hope this post gives you some new insights into how taxation works, and the next time you’ll buy or sell crypto something will click in your head, and you’ll be thinking about taxes, too.