Do traders pay income taxes?

[BTCreward]

I do not pay taxes for the income that comes from my cryptocurrency, but it all depends on what country you live in and how you withdraw your funds.

[sumangs]

Traders using cryptocurrencies on pay tax when they use fiat money (dollar) as payment. If they use bitcoin then NO, there is no income tax. So I think using altcoin as payments could get rid of those tax that are too unfair in some countries and maybe cryptocurrencies could do some little help. I also think that it is a reason why government like to put tax on crypto because they think that crypto-users are evading tax in a legal way but once there is tax then it is illegal.

[Nnedaddy1]

No. Traders do not pay tax for the incomes.
Cryptocurrency has not gone 100% mainstream and so not that recognized by most counties to the extent of collecting tax on cryptocurrency trades .

[oudekaas]

It depends on the country where you are living. all of them have different laws. As for me, I don't pay any taxes. It's only my profit, I wouldn't share it with the government.

[Riki31]

Personally I do not pay taxes for trading on the exchanges in case I get the profit, I pay the taxes after I cash up and I think that this is enough.

[ubercool]

In my country it depends on the capital gains.. How much you invested and how much you cashed out in a year. Based on that you will be a particular tax bracket and you will have to pay taxes accordingly.

[MilaNOV]

If you mean taxes like taxes that are regulated by the governmental institutions in lots of countries, so to my mind not, traders do not pay. They pay for fiat that they get after converting the crypto currency into their fiat money that are regulated by the governments. After crypto became the official financial asset so traders will have to pay taxes may be.

[Samkol26]

Since you are not registered as a company I don't see why you will pay tax to anyone and there is no government body that is in charge of taking and calculating crypto tax for now.

[heritage35]

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?

Since cryptocurrency is decentralized, traders can't be pinned down directly by any government agencies, to get taxes from them. Except the exchange they are using decides to charge them indirectly, because exchanges can still be charged the government agencies.

[Fedots83]

Fees on most of trading portals are so high, and if I would need pay taxes, I will not make any profits at all. There should be no crypto taxing at all.

[baronandr]

In Japan there are several regulated exchanges, but it easy to find a broker, which is not controlled by any government. Crypto helps to forget about taxing.

[ginobitcoiner]

I have never paid taxes on the income from the crypto currency that I got. because of being attacked I have not implemented regulations on bitcoin.
if it is actually implemented, I really agree, if bitcoin is taxed

[atrmill]

I think that most traders do not pay taxes because they trade on anonymous exchanges. But it is against the law. I think we should not deceive the government.

[paynercash]

In Japan there are several regulated exchanges, but it easy to find a broker, which is not controlled by any government. Crypto helps to forget about taxing.

It is more difficult to tax on the income of electronic money, and the more the government intervenes and seeks to tax personal income, they are anonymous, they have many ways to withdraw. and the government will not be able to intervene in their income

[myohmy81]

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?

I think it needs a law to implement the collection of taxes from the earnings of cryptocurrency. If that will happen how the government know if we earn on this technology as we also lose our funds in a bearish market. Anyway here in my country we are free to do crypto transaction without any issue from government. They just reminded us that investing in crypto is high risk due to volatility.

[acholagi]

I will always refuse, if the government imposes taxes on traders as long as the government has not contributed positively to the future of traders
the government does not want to bear losses, from the cut loss made by traders, then why do they want to ask for the profits we get? are they thirsty vampires going to a cryptocurrency fighter?

[DeltaX]

In Japan there are several regulated exchanges, but it easy to find a broker, which is not controlled by any government. Crypto helps to forget about taxing.

It is more difficult to tax on the income of electronic money, and the more the government intervenes and seeks to tax personal income, they are anonymous, they have many ways to withdraw. and the government will not be able to intervene in their income

Lol it's so easy to do that remember a lot of funds in the crypto still get concentrate on the centralized exchange site and that means if the government will try to put the more restriction and these centralized exchange will be automatically follow all of compliances that will have issued by regulators.

[FirstCryptic]

For traders they must create conditions for earning enough big money to talk about removing taxes from these incomes. Question number one: how to find out and fix this income. If someone in the crypto does it, then we can talk about the future.

[Amberum]

I think that blockchain paradigm must be free of income taxes, we can pay income taxes when we convert cryptocurrency to fiat currency.

[Ubrfeh]

Probably none of the traders cryptocurrency does not pay taxes because it is impossible to track , and I'm not a supporter of what we would pay taxes , it's just theft!