Selling Ethereum

[virasisog]

It is best to consult a tax accountant about that rather than posting it here in this forum. Each country has their own tax rule especially in crypto and most users here might have just googled their answer to share their opinion. The only one who can assist you better here will be an expert.

[wajik-tempe]

I wonder how tax in crypto works, does it have tax every trades that we got profits ? how if we take another trades with the profits we made before and at the end we loss, does the tax is still charged ? i think it's more fair to calculate all the profits by the end of the year rather than taxed every trades

[lepbagong]

I don't think this is the right time to sell your ETH, but holding or buying is a very good decision right now, because the price of the eth is dropping drastically, I am sure that in the next few months etherem will rise again and be able to touch its new ATH, hopefully  you are not wrong in making decisions,,,,,

right, the action that should be done, because ethereum has just reached its ATH must experience a very sharp decline even to reach 40% of the ATH that was recently received.
Of course this is definitely a big blow from ethereum because the upgrades received are not too long. I agree if you really want to buy it is the best option because renewable ATH will be created again.

I think he is doing goods. I guess he wants to get back his initial investment for safety reason and left the remaining funds to hold or trade it. I think it's a smart choice as ETH are not stable right now.
I do this sometimes when my profit is like x2 or x3. I withdraw my initial investment and left the remaining funds to invest in another altcoin.

it's true what you said that ethereum is unstable at the moment, but not just ethereum but all of them have had a very deep correction and all are experiencing it. so it's a natural thing because everything is at its lowest point.
whatever you do may be right but right now everything is down and so are altcoins, but if you want to move to altcoins there is nothing wrong because the same will also increase when bitcoin, ethereum increases.

[sumant]

Every coin who has it's own blockchain we should keep some of these coins for future transfer from their wallet because these types of coins will definitely will gain in prices. Ethereum has its own blockchain with real use case. We can sell some part of Ethereum if anyone holding many Ethereums. Eth has been a great coin in past time and I hope this will be much more in future. So its up to traders or investors want to sell or hold.

[RussianEnglishTranslation]

If I invested 30k in Ethereum and when my investment goes up to 60k, and I sell 30k just to get my initial investment back, will I be taxed on that? I live in the United States and just bought Ethereum this year.

I sold some ETH and will likely sell more during the ETH 2.0 hype. I used the funds to buy NEAR.

[anatolij.shishkin]

Of course, everyone has to pay taxes. However, the cryptocurrency space is free. And there are no regulators. So why pay taxes in a decentralized environment?  I am more than true that there are companies in the USA that are willing to pay cash for cryptocurrency.

Of course, if you are making a big return on investment, you should better study your country's legislation. That would not break the laws. 

[jjdub7]

If I invested 30k in Ethereum and when my investment goes up to 60k, and I sell 30k just to get my initial investment back, will I be taxed on that? I live in the United States and just bought Ethereum this year.

In each country the regulations and taxes for different things are different mate. If you are not sure what to do, you better consult a professional accountant.

This can save you a lot of headaches and even tax trouble, which are very sensitive to the crypto world these days.

[Lantind]

From what I have heard from crypto people in the US, you have to pay for capital tax gains if you purchased crypto and made profits from it then you should really try and get it done as quickly as possible so they don't come to you later on. In other countries filing for capital isn't that necessary or not even required but in US, its mandated. I know there's a way to waiver it or reduce it but I'm not sure how. Maybe someone in crypto based in US can clarify more

Unfortunately I don't have friends in the US, so I can't find out more about this, and if it's something that crypto players have to obey, then it's okay to follow the rules that have been made, because in my country, it does not apply.