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wilbur

Is bitcoin being taxed in your country?

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How that's possible @wilbur i use localbitcoin as my trading platform... i have the minimal amount for buyers to buy... if they wanted to get more..they purchase the minimal.. and message me the other amount they want.. i have an external wallet that i keep my entire bits.. so i get separate payments.. customers get the face value... only mining fee is subtracted... i dont scam or loss any profit..only payment i accept is paypal and bank transfer... 

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Here in my countrt there's no tax, but in buying bitcoin versus selling ng it on our local wallet theres a huge gap. Also our local bitcoin wallet has huge,cash out or withdrawal fee

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On 2/27/2019 at 10:25 AM, KiXxnTRiXx said:

crypto should never ever be involved with banks.. 

But yet some banks allow users to send crypto to other wallets by exchanging their currency and hence they can tax it easily. 

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Yes, my government as far as I know taxes bitcoin, but only profits that you made from it.

 

by the way, they look at how much value the bitcoin had on January 1, 2018 if you have to pay tax for 2019.

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No it is not yet being taxed in Malaysia as of now. 

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I know a lot of people who also mine at these sites, and most of them are just complaining about the regret they've invested, because income and profit were very low compared to other investments they could have made, mining in the cloud was good for who started in the beginning, I do not have much experience, I can not give you a good answer. Good luck: D.

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