Do traders pay income taxes?

[delton22]

Yes crypro trading is taxable in many countries around the world, i know in usa there is a strict tax policy and you have to file tax returns on crypto gains every year, so you have to follow the tax policies in the country where you live.

cryptocurrencies normally fall into the capital gains tax category for casual users in the U.K., being considered investments. However, some traders might be liable to income tax, depending on how regularly they trade and the volume of those operations.

[Athanasios Motok]

At this point in time, I have not heard of traders paying tax on profits for trading. Of course , you may have already introduced rules in your country, but in my country, you can do everything as long as the law does not prohibit.

[banks38]

I'd like to start trading, but what happens when you get profit from a new coin? you pay taxes as individual (like capital gain) or you must open a registered company?

Why the hell would you pay taxes?  If you kept your privacy they have no idea who you are unless you cash out in some government run POS like Coinbase.  You did not sign up to pay taxes so why would you?  Your central bankers are printing fiat daily and then taking half your money.  This is done to keep you a slave and on the treadmill.  

Remember they are taking you work and using it to drop bombs and missile on countries with no central banks.  Innocent people are dying from your tax dollars.  Save a life and half your money by telling the government to fuck off.  

[helsing03]

large whales pay.

[Viscore]

At this point in time, I have not heard of traders paying tax on profits for trading. Of course , you may have already introduced rules in your country, but in my country, you can do everything as long as the law does not prohibit.

Maybe your country isn't imposing tax but it is already happen in other country. Of being unregulated form of investment, government isn't forcing crypto holder's and traders to include their income from crypto together with their real stock investment. That's is why, tax is just free for now.

[Prosperityforall]

Basicly traders have to pay taxes,but it refers to stock trading. As for crypto trading,it is not regulated yet,so there is no special rule to crypto trading,you aren't oblogated to pay

[Kemileye]

In this part of the world, crypto trader are not paying any tax. Trading in my country is without tax became cryptocurrency has not been regulated in my country.

[yogg]

Here, you don't have to pay taxes as long as you do not cashout from crypto.
If you get fiat, then you must declare it and you will be taxed on that fiat.

[adzino]

I'd like to start trading, but what happens when you get profit from a new coin? you pay taxes as individual (like capital gain) or you must open a registered company?

Depends on the country you are living. In the US, the law varies from state to state, but most of us who are subjected to US tax regarding gains  from trading crypto currencies will have to pay. The Internal Revenue Service (IRS) does not consider crypto currencies as a currency, but property. Exchanging of property with gain are subject to pay taxes. So, you will have to report your gains and file your taxes if you are trading.

[Open4lies]

I don't really know if all countries are the same or not but seem like traders come from few countries don't have to pay taxes for their crypto trading income cause their governments still dont' have clearly rule about cryptocurrency and cryptocurrency income but I think in the future when these governments have clearly rule for crypto and crypto income then these trading will be investigated and they'll have to pay taxes for their crypto trading income before.

[cryptomanspbmgdn]

cryptocurrency created for independence!we don't have to pay anyone anything!there are so many taxes in my country, but I don't see it as worthy of living. Recently, the retirement age has been increased and now the elderly have to work even more...

[Kittygalore]

Cryptocurrency traders are usually only required to pay taxes on their profits, however it is quite difficult to track how much profit these people are earning, therefore there is a lot of scope for underestimation of tax owed, whether intentional or otherwise. However, a lot of exchange actually report directly to the IRS, so it might not be long until they get an unpleasant surprise.

This is true. This is one of the advantage of cryptocurrency in which this kind of transactions cannot be identified or somewhat cannot be traced that is why it is much better earning profit into it. And also we can see the good side of it through knowing that the profit you will earn is tax free.

[sinkfish]

In my country, trading crypto is  on grey zone. traders here are on holiday. unless you want to make loans or dealing with banks, you can submit tax based on the profit you made, of course it can be manipulated.

[krassy]

Trading on centralized exchanges you will have to pay taxes, but if you just occasionally buy or sell something on decentralized exchanges,it will be difficult to find you to pay taxes, although it is possible if you wish. in our country, there is no legal regulation of this activity, but if you transfer cryptocurrency to fiat money in large amounts,you will be noticed and asked many questions))))

[happyme1818]

I'd like to start trading, but what happens when you get profit from a new coin? you pay taxes as individual (like capital gain) or you must open a registered company?

Paying tax in trading depends on the country you are residing. If there is no clear regulation about taxation of cryptocurrency in your country it is fine not to pay tax. If you reside in the US you have to pay your tax because they are very strict in taxation.

[Minusha]

I have never paid tax on my profits. Even I will tell honestly and I don't plan to do it. I don't see what I have to pay for.

I don't know which country you are from, but here in Germany you can easy come in prison, if you don't pay ur Taxes.
We must pay for everything here, not only for trading but even for incomes from POS

[lubah]

No traders do not pay profits from trading and I believe that it is wrong that traders would now pay profits from the sale of bitcoins. Today it is better to be engaged in accumulation of coins, than trade.

[Reid]

Well the trading platform is already taking something from you every time you make an order (buy or sell).

After that, it is their problem to pay the taxes. They do make a lot of money out of it so I think it wont be a problem for you.
The thing you should be thinking about is how are you going out with that profit that you made.
Remember, when a lot of money is getting out from the crypto world it is being questioned. Just do not use banks to avoid this.

[frchowe214]

There are 2 factors to consider when paying trading tax. What country you live in, and what coins you trade. If you like in the USA and trade on coinbase then you are likely to pay tax. In an undeveloped country where you can trade privacy coins - no taxes

[Troysen]

If I'm not wrong there was a quite detailed post about this in Reddit, it was about a lawyer who talked about how you should pay taxes on cryptos, I think the trick was when you change cryptos to fiat, there you had to pay taxes, and if I'm not wrong they enter the field of capital gains, a quick google search can give you better answers, remember to put reddit on the search bar.