@esmeesmith
Do you get taxed for the crypto that you convert into local currency? How is tax percentage in your nation? Singapore has 8-12%. What about your coountry?
@esmeesmith
@esmeesmith
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In Canada / US, crypto is treated similar to an asset or security, so when you convert to fiat, you have to file capital gains on your tax return. The percentage of 8-12% is similar for working class people, although the calculation on the tax return is a bit more complex.