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Is converting crypto the same as selling

Is converting crypto the same as selling

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Moving Profits To Your Bank (Turning Cryptocurrency into CASH)
When you convert crypto to another crypto or FIAT, you'd have a taxable event, while simply transferring is not. How is crypto taxed in the US? If you sell one cryptocurrency and buy another, and the one you bought grows in value faster than the one you sold in order to buy it - you make. bitcoinmega.shop � blog � otc � 3-reasons-why-traders-use-binance-conve.

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Btc casino no deposit bonus

Crypto like Bitcoin has gained strong momentum because people see it as a revolutionary form of payment. Given the huge array of cryptocurrencies that now exist, and the need for enough buyers and sellers, most exchanges will only offer exchange pairs where there is the greatest demand. Key Takeaways about the taxation of sending crypto. With Binance Convert, users can instantly convert their crypto holdings with one click and zero fees.