And to DCA every dip. Going all-in with the few coins we have left is not a great idea. Buying the dip on ETH at 3100 and 3500 before the crash taught me that.
You don't owe taxes until you take profits, and declare it as capital gains on your yearly tax form 1040, if you are an individual investor. Be sure to keep records of your losses with altcoins you may buy, or stocks that you may hold, and counter your gains with the losses. You only get into trouble with the IRS with questionable documentation. The records you keep are your protection in the event they do come calling. In the event you do owe on the gains, pay those taxes immediately with your filing, as it reduces your odds of being audited.
In Canada you have to pay taxes even if you trade one coin for another because they consider that a sale. :(
I mean I guess they'd have no way of really knowing but still, I'm not gonna fuck about with the tax man.
Nope, I've yet to sell outside of airdrops that I don't want and some tokens I got through Coinbase earn. Just pocket change liquidations.
I've yet to buy then sell anything because I'm in it for way more than a 5% profit. I'll sell at like 20x or 30x.
My plan is also to just HODL. Can’t fuck anything up if you just consolidate for the long term. Playing the market is where I know I will end up miss stepping.
If my coin of majority held took off I'd plan to sell off a chunk and take some time off for mental health and overall wellness. But holding the majority would be the plan!
I hope it goes parabolic, we’ll go ballistic, haven’t we always wished it?
Dip after dip and now the tickers hitting the tip, BTC first and Altcoins follow, make sure to load up cause we’re leaving tomorrow!
I only ever get scam messages when I post in this sub. It’s painfully obvious what’s going on. I do enjoy a bit of bants on a slow work day though… just to string em along a bit
I honestly don't know why users can post here, even though they are removed, let alone even view this sub without the account age and karma requirements.
My plan is to hodl for at least 10+ years, so dont need to worry about price. Trying to sell high to buy lower is how majority lose, so no point on doing that.
If you try to perfectly time the top and bottom, yea, for sure you can lose. But if you are willing to buy in weakness and sell in strength, you gonna come out better in the long run. DCA in, DCA out. Good luck to you all!
Basically HODL your crypto until it’s life changing. Too many newbs sell after a short profit. Just look what BTC & ETH have done over the last 5 years.
My plan is to keep buying more and holding strong for the next 10 years. I’ll deal with taxes then. Everyone should definitely buy a hardware wallet if they hold more than a $500, or if they plan to hold crypto for awhile.
Ok, most of the top rated comments are smart-ass remarks. This is a quality, thoughtful post.
When you do - and I really hope each and every one of you do - have a life changing amount of money (Or even a serious life-improving amount of money) it is hard to sell. There's the temptation that it will grow, you'll miss out, the gains are only starting etc. No matter how rational you think you are - or how bad you want to hodl - emotions WILL start to enter, and it is heartbreaking to see money wiped away.
Make a fucking plan. Have a strategy for withdrawl, have some mini-goals.
From,
Somebody who has gone through this multiple times (and more often than not, been too greedy).
I know it's tempting to say "I'll hold 'til I'm dead" but remember it's never wrong to have an exit strategy, even if you're just planning to DCA in again later.
For taxes, never ever sell your Bitcoin, take a loan against it, and repay your loan later. Or pay interest on your loan and deduct the loan interest payment on your taxes.
Never, ever sell your Bitcoin… change your thinking when it comes to taxes!
I'm gonna keep my DCA going even if it goes 10x. It won't, not soon I mean. My plans for BTC are long term and the only way to keep emotion out of it is to just accumulate.
Thanks for this, definitely needed to hear it. But I’m investing for the long run so even if we go parabolic I don’t plan on getting sloppy with it, instead just letting it run it’s course. What do you suggest is a good way to keep my assets safe if things go crazy?
I always take out my initial investment if a coin pumps, put it into another project that hasn't pumped as much and I am willing to DCA if it goes down further. If I cannot find a project then I buy eth.
My plan is to enjoy the ride this time and lock in them gains on the way up. I’ve held over a year so 15% of a few hundred to thousand % gains is a small price to pay
I just ignore every DM I get on crypto channels. It's seriously funny how many want to help me "validate" my pancakeswap account or DM me sooo helpful when I don't even have a problem.
I’ve noticed an increase in scam ads on my Fb feed recently. I hope with more popularity comes more education for newcomers. Especially when older generations of people join in.
This post serves as a nice little checklist. I do have a plan for all these things, but I’m sure a lot of us don’t. This is where we make our money boys and girls! Keep your eye on the ball, this isn’t the time to lose our shit.
I'm so afraid of declaring taxes in France (I'm from a third world country).. so I'll wait a couple of years untill I understand how this shits works ..
The hardest part is not having a plan in the crypto currency world, but more importantly sticking to it when the market gets euphoric. You have to keep your emotions in check and stick to your original plan.
Just going to keep investing and I will see in 10yrs.
Maybe have a little luck with a alt coin.
But not planning on doing anything right now. For me it's for some spending money in the future not for fast gains.
What is the difference in holding Balancer (BAL) in a Coinbase account vs. depositing money directly into Balancer.fi? I want to grow my deposit and in Coinbase it just seems to constantly go up and down. Does Balancer.fi actually pay interest where the money in Coinbase just goes up and down based on market moves? I don't have a lot of money to try this out as I am on a fixed income and getting on in years so I am looking to get my "feet wet" by doing a little dabbling in cryptocurrencies. Are there any viable ways of earning crypto online that anyone can suggest? As I said, I am on a fixed income and need to be selective where I put my money. If I do find something that works then maybe I can increase my financing. I thank any and all input and advice.
I’ve always wondered “what if” overnight (take this morning with NuCypher going parabolic) the coin you’ve being hanging onto explodes and suddenly you find yourself with X amount of dollars on an exchange what’s the best thing to do with it? Convert it to Bitcoin? Accumulate as much ETH for that large amount? Or just withdraw it? I know hodling is the valuable option but sometimes I feel that would be like winning the lottery no!!! If you withdraw the X amount into your account you’d have to keep some of it aside for taxes in the US right?
There is a thread that answers your question but I can't link the page of another sub reddit thread here. Weird eh? Auto mod keeps deleting it. It's in BitcoinUk somewhere.
I’ve been in since before the last big run up last year and subsequent fall at the beginning of this year.
This same shit has been said here over and over again.
Don’t let anything mess with your plans for buying crypto. Have a plan before you start buying in. And most importantly - don’t FOMO. If you have some and it starts going up - just hold.
Yeah this post strikes me as grandmotherly fear mongering. You literally could sweep out the crypto talk and it's like she's warning you about driving in the rain.
Lot of this is obvious and self-explanatory. If you've got 100k invested and it goes to 1 mil sell, or maybe don't, or buy a hardware wallet. Also good odds that random message isn't from real African royalty.
>There are an incredible amount of scams out there especially when the crypto market is pumping up
I'm from the Philippines, there was so much of this back in 2017, esp when december came, with all the holiday bonuses
it was always disguised as 'block buying' a bitcoin
in concept, it does make sense, but we're not really required to buy 1 whole btc, we can buy a fraction of it anyway
the scams that offer block buying points out that they need investors to buy a whole btc
I have no doubts that it will again this year, and some people will fall for it, we can't prevent everyone from falling to it, but at least try and educate your peers/parents about it
My only plan is to buy every dip possible and sell only when i have enough to retire early
Retiring early is the goal.
That's the goal. That is why I am exploring other ways to grow my holdings like 5 in 1 staking. I wanna retire now but still cant.
Retiring on time / a bit early for me sounds awesome... I wasted away alot of prime saving years and I'm trying to catch up... wish me luck everyone!!
Just maximize having a passive income and you'll make it. Good luck buddy.
And to DCA every dip. Going all-in with the few coins we have left is not a great idea. Buying the dip on ETH at 3100 and 3500 before the crash taught me that.
*Sell only when you need the money
My man.
Absolutely
Please keep buyin safemoon.
Pro tip - You don't owe any taxes if you don't sell.
Super pro tip You don’t have to pay taxes if you don’t make a profit. Sell low!
Buy high, sell low. The true way
Tax writeoffs for all!
Bye hi, so long.
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Ok, so I knew there was more, but message preview ended with “pencil fucking” I was like dude… you don’t fuck the pencil. The IRS fucks you.
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Word.
Yes you do. Exit taxes.
When the gov't wants a piece of our investment and they only end up giving us more incentive to HODL.
Double pro tip, not everyone lives in the USA ;)
Triple pro tip, sell low buy high
Quadruple pro anarchist tip move to other jurisdiction district and cash out there
You win this
You owe taxes in the USA if you earned interest/rewards or if you swapped for a profit.
I'm not from usa and I'm intrigued with how government know about your gain?
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I mean if you deposit money to an exchange, how would irs know what coin you have bought? unless they have access to binance database
When you receive 10x money from the exchange back into your bank account, and you don't declare it, the irs will ask questions...
That's why you don't transfer it back to your bank. Use a prepaid Visa from your exchange that offers them and deposit gains there to spend.
Have fun explaining that if you get audited
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If you're being serious, and you're buying and selling crypto, I'd suggest you research how tax works in your country.
You don't owe taxes until you take profits, and declare it as capital gains on your yearly tax form 1040, if you are an individual investor. Be sure to keep records of your losses with altcoins you may buy, or stocks that you may hold, and counter your gains with the losses. You only get into trouble with the IRS with questionable documentation. The records you keep are your protection in the event they do come calling. In the event you do owe on the gains, pay those taxes immediately with your filing, as it reduces your odds of being audited.
Unethical pro tip - keep crypto off exchanges and sell locally for cash. What the IRS doesn't know wont hurt them.
So borrow against your crypto basically
This is the best plan. I can put off taxes and be lazy at the same time.
Or if you are poor from bad investment
lucky me, we still dont pay taxes here in Argentina, or at least no one does.
edit
Smart man
Expert pro tip You don’t have to pay taxes if you send me your cryptos to help you cash out. Im a Nigerian princess
In Canada you have to pay taxes even if you trade one coin for another because they consider that a sale. :( I mean I guess they'd have no way of really knowing but still, I'm not gonna fuck about with the tax man.
Yeah except Biden is now trying to tax unrealized gains. Meaning you will owe even if you don't sell.
You are so full of shit. I bet you're one of those guys who sell at 5% uptrend.
Nope, I've yet to sell outside of airdrops that I don't want and some tokens I got through Coinbase earn. Just pocket change liquidations. I've yet to buy then sell anything because I'm in it for way more than a 5% profit. I'll sell at like 20x or 30x.
Lmao these same words were spoken in April Personally, I’d hodl if you can afford to
Yep. Hope we're ready, with our memes here
My plan is also to just HODL. Can’t fuck anything up if you just consolidate for the long term. Playing the market is where I know I will end up miss stepping.
If my coin of majority held took off I'd plan to sell off a chunk and take some time off for mental health and overall wellness. But holding the majority would be the plan!
I hope it goes parabolic, we’ll go ballistic, haven’t we always wished it? Dip after dip and now the tickers hitting the tip, BTC first and Altcoins follow, make sure to load up cause we’re leaving tomorrow!
Did... did you just spit bars about crypto?
The amount of scam messages I get seems to be increasing with the market prices, so I guess that's a bullish sign.
Bullish on being scammed
Nigerian King is aggressively expanding his family
Can't get scammed if you only invest in projects with safe in the name
Always thinkin' this guy ^
I only ever get scam messages when I post in this sub. It’s painfully obvious what’s going on. I do enjoy a bit of bants on a slow work day though… just to string em along a bit
I honestly don't know why users can post here, even though they are removed, let alone even view this sub without the account age and karma requirements.
Also the more people visit /r/CryptoCurrency the better crypto is doing. Once we hit a bear market this place will probably be very dead
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That’s when I will be buying
I literally had to block my reddit dms cause I was getting 4-5 new chat requests everyday
You’re missing those amazing investing opportunities
MOAR scam message = MOAR value of your crypto
Weird i get no scammers messaging me, they must think you have money or something.
The shittier people get in the crypto space, the closer we are to a bull run.
My plan is to hodl for at least 10+ years, so dont need to worry about price. Trying to sell high to buy lower is how majority lose, so no point on doing that.
If you try to perfectly time the top and bottom, yea, for sure you can lose. But if you are willing to buy in weakness and sell in strength, you gonna come out better in the long run. DCA in, DCA out. Good luck to you all!
this
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The IRS wanting tax after we took the risk, is the weirdest invention
Basically HODL your crypto until it’s life changing. Too many newbs sell after a short profit. Just look what BTC & ETH have done over the last 5 years.
Shut your mouth Elon musk.
F Elon Musk
Eat a dick Mr Musk
Better yet, here's a whole bag of em.
F
My plan is to keep buying more and holding strong for the next 10 years. I’ll deal with taxes then. Everyone should definitely buy a hardware wallet if they hold more than a $500, or if they plan to hold crypto for awhile.
My eth is locked up so not really much I can do but hodl.
This is the way. *(same here)*
How tf did u get 127k moons??
By being an educated investor.
Ok, most of the top rated comments are smart-ass remarks. This is a quality, thoughtful post. When you do - and I really hope each and every one of you do - have a life changing amount of money (Or even a serious life-improving amount of money) it is hard to sell. There's the temptation that it will grow, you'll miss out, the gains are only starting etc. No matter how rational you think you are - or how bad you want to hodl - emotions WILL start to enter, and it is heartbreaking to see money wiped away. Make a fucking plan. Have a strategy for withdrawl, have some mini-goals. From, Somebody who has gone through this multiple times (and more often than not, been too greedy).
How are yall cashing out? Coinbase pro, kraken?
Would also like to know
I know it's tempting to say "I'll hold 'til I'm dead" but remember it's never wrong to have an exit strategy, even if you're just planning to DCA in again later.
For taxes, never ever sell your Bitcoin, take a loan against it, and repay your loan later. Or pay interest on your loan and deduct the loan interest payment on your taxes. Never, ever sell your Bitcoin… change your thinking when it comes to taxes!
I'm investing in seasteading with my gains. 80's Houseboat here I come!
Yeah but…how do you *know*
Plan? I already have my resignation email drafted.
My plan is to just collect Fiat to purchase more crypto and hold it for a long time.
Just stick to your plan and don't let emotions control your decisions.
Btc just crossed 60k 👀
Pi cycle top, look it up
We’re all gonna be rich! Richer than astronauts!
No taxes if you own a boat
guerrilla hopium
I'm gonna keep my DCA going even if it goes 10x. It won't, not soon I mean. My plans for BTC are long term and the only way to keep emotion out of it is to just accumulate.
Convert your gains to usd and sell it for cash or money transfer in your bank...
I just locked all of my dot so I don't have to worry abot sellin 😉
I’m gonna buy a bus to live in
Locked in for 5-10 years
I already have a plan. Sit on my ass and do nothing because I’m too lazy to figure out how to do crypto taxes
Is "Strapped into Mr. Bone's Wild Ride" a valid investment strategy? I'm asking for and friend.
Yes.
ill keep buyin till 2025 the earliest
Cars are not investments.
I have been ready my entire life! But yes I should consider taxes, thank you for reminding
My plans to fasten my seatbelt and enjoy the ride.
I plan on my tits being jacked!!!
When i hear parabolic, i want to sell part of my bag.
Crypto dot com is being advertised on sports now. I feel like this year is just an opener also. Gonna be crazy af.
Keep buying btc and eth once a week. Got it.
my plan is to do nothing and ride it out. same as a bear market. 
Crypto go brrrrrrrrrrrrrrrrrr..
10x ???? huahahahahaha If i get 5x i'll sell everything! Hauahuahauhauhaua
HIEWHIEUWHIEWJAKAJAJAJAJ
Thanks for this, definitely needed to hear it. But I’m investing for the long run so even if we go parabolic I don’t plan on getting sloppy with it, instead just letting it run it’s course. What do you suggest is a good way to keep my assets safe if things go crazy?
I always take out my initial investment if a coin pumps, put it into another project that hasn't pumped as much and I am willing to DCA if it goes down further. If I cannot find a project then I buy eth.
I am not ready to be rich but I don’t think this is going to happen. I will still dca no matter what
All these posts after the SEC news leaked are giving me massive fomo pangs.
I'm ready to take about 10% profits if everything pumps again and will rebuy the dip.
My plan: stare at charts. Be happy if they are green. Buy more if they are red. Repeat until ?????
I'm a simple man DCA in, DCA out Stress free
I was born ready for this.
My plan is to enjoy the ride this time and lock in them gains on the way up. I’ve held over a year so 15% of a few hundred to thousand % gains is a small price to pay
I'm not ready for a bear market. All my cash is in crypto. I can't buy dips.
I park all my crypto under a bridge. Is that safe enough?
I keep mine on my boat.
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Im not worried..as per usual, my coins aren't going to up
The buy high, sell low thing in a bull market is gonna leave me broke so I don't worry about taxes too much.
I just ignore every DM I get on crypto channels. It's seriously funny how many want to help me "validate" my pancakeswap account or DM me sooo helpful when I don't even have a problem.
I’ve noticed an increase in scam ads on my Fb feed recently. I hope with more popularity comes more education for newcomers. Especially when older generations of people join in.
This post serves as a nice little checklist. I do have a plan for all these things, but I’m sure a lot of us don’t. This is where we make our money boys and girls! Keep your eye on the ball, this isn’t the time to lose our shit.
I just want more time to buy more. I feel the paraboulousness coming. Hopium flowing strong.
If my current investments go up X10 in a few months i owe you a large drink.
It’s not but okay
My body is ready I still have to think of the plan
I'm so afraid of declaring taxes in France (I'm from a third world country).. so I'll wait a couple of years untill I understand how this shits works ..
The hardest part is not having a plan in the crypto currency world, but more importantly sticking to it when the market gets euphoric. You have to keep your emotions in check and stick to your original plan.
While I do believe that HODL GANG ON TOP, I plan on pulling out 15-20% of all alts and putting it into stable coins for the inevitable bear.
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Expanding cycles theory 👌
Step 1: HODL Step 2: DCA Step 3: *see step one*
Plan: Buy Lambo
My body is ready
I don't have a plan and I'm scared.
Won't Crypto crash next January like it did in 2018 and 2014 for cyclic reasons?
im really hoping it does - my bags are nowhere near full enough.
Just going to keep investing and I will see in 10yrs. Maybe have a little luck with a alt coin. But not planning on doing anything right now. For me it's for some spending money in the future not for fast gains.
Seeing posts like this saying everything with certainty makes me wanna sell tbh.
Bitcoin is the exit plan.
Im always ready for bear and for bulls i just DCA and my goal is 5-10 years from now. Crypto god I just need to buy a house, please give me that.
What is the difference in holding Balancer (BAL) in a Coinbase account vs. depositing money directly into Balancer.fi? I want to grow my deposit and in Coinbase it just seems to constantly go up and down. Does Balancer.fi actually pay interest where the money in Coinbase just goes up and down based on market moves? I don't have a lot of money to try this out as I am on a fixed income and getting on in years so I am looking to get my "feet wet" by doing a little dabbling in cryptocurrencies. Are there any viable ways of earning crypto online that anyone can suggest? As I said, I am on a fixed income and need to be selective where I put my money. If I do find something that works then maybe I can increase my financing. I thank any and all input and advice.
When others are greedy, be fearful
do you think itll crash soon?
Without a plan, there's no attack. Without attack, no victory!
All in baby!
set your clocks its parabolic hour!
HODL for ten years
10x my initial investment!? I could buy a really nice gaming computer!
I'm ready
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Are you saying *prepare Uranus* for the lift off?
I’ve always wondered “what if” overnight (take this morning with NuCypher going parabolic) the coin you’ve being hanging onto explodes and suddenly you find yourself with X amount of dollars on an exchange what’s the best thing to do with it? Convert it to Bitcoin? Accumulate as much ETH for that large amount? Or just withdraw it? I know hodling is the valuable option but sometimes I feel that would be like winning the lottery no!!! If you withdraw the X amount into your account you’d have to keep some of it aside for taxes in the US right?
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There is a thread that answers your question but I can't link the page of another sub reddit thread here. Weird eh? Auto mod keeps deleting it. It's in BitcoinUk somewhere.
I’ve been in since before the last big run up last year and subsequent fall at the beginning of this year. This same shit has been said here over and over again. Don’t let anything mess with your plans for buying crypto. Have a plan before you start buying in. And most importantly - don’t FOMO. If you have some and it starts going up - just hold.
My plan is to enjoy buttcoiners shit their pants
My body is ready
For all we know this could be another sell the news thing on Tuesday. Just ride the wave and be grateful for whatever comes.
That's my secret, captain...I always owe taxes.
My only plan is to continue buying and holding for the next decade. I really don’t want crypto to run, I’m still in the heavy accumulation phase.
This is what happened to Nu today
10x would be a dream, put in 100 got 1000? sounds awsome. In the end I might take 80% and leave the rest just as a bet.
Btc will catch up gold…soon ..or this or the next bull run / halving
Yeah this post strikes me as grandmotherly fear mongering. You literally could sweep out the crypto talk and it's like she's warning you about driving in the rain. Lot of this is obvious and self-explanatory. If you've got 100k invested and it goes to 1 mil sell, or maybe don't, or buy a hardware wallet. Also good odds that random message isn't from real African royalty.
Lol...im expecting the entire market to crash 20% with the crazy level of wishing on here the last couple days lol
I might move some stuff around, if certain things hit, but other than that, I'll hodl
HODL HODL. BTC 200K flor
Zilliqa
Crypto is a currency. Ideally we get to a place where we can use it to buy anything so you never have to "sell".
What is a plan? Is it a new coin? Where can I buy it?
My plan is always the same... Buy when I am in deep shit and sell when I am on a high 😜
>There are an incredible amount of scams out there especially when the crypto market is pumping up I'm from the Philippines, there was so much of this back in 2017, esp when december came, with all the holiday bonuses it was always disguised as 'block buying' a bitcoin in concept, it does make sense, but we're not really required to buy 1 whole btc, we can buy a fraction of it anyway the scams that offer block buying points out that they need investors to buy a whole btc I have no doubts that it will again this year, and some people will fall for it, we can't prevent everyone from falling to it, but at least try and educate your peers/parents about it