Avoid Bitcoin’s High Tax Trap 🪤 | Cryptocurrency Tax Planning Guide

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Looking at cryptocurrency tax strategies, you may think it has nothing to do with you. But if I ask these two two of the most common questions asked by cryptocurrency investors - if I just bought the cryptocurrency but didn't sell it to make any money, do I still need to pay taxes? In other words, if my earnings are always stored in the exchange and are not withdrawn to the bank, will the tax payment mechanism be triggered?

Today we will talk about the tax issues of cryptocurrency. Whether you are a novice who has just started investing or a veteran with some experience, we will use the simplest and clearest language to help you figure it out.
Imagine this time last year, you invested $10,000 in some Dogecoin. One year later, your investment has doubled and you could have earned $10,000 back, but you found out that you need to pay 40% in taxes! In the end, I could only earn $6,000. No matter how I think about it, I feel a little bit shortchanged. However, today we will use the simplest and easiest-to-understand language to explain to you how to save some crypto tax.

0:00 Beginning
1:42 Problem Overview
3:29 Analysis of basic common sense issues regarding cryptocurrency taxation
6:56 How can you use your losses to deduct taxes?
12:01 How to pay taxes on Staking dividends
13:57 How to use CRT?