Taxable Cryptocurrency Events Buying or Transacting in Cryptocurrency Any time someone makes a purchase using cryptocurrency — for example, purchasing concert tickets — it is considered a taxable event. Additionally, any type of cryptocurrency transaction in exchange for goods or services will trigger a taxable event in the eyes of the tax authorities. Any type of buying, selling, trading and transacting with cryptocurrencies are considered taxable events. Additionally, purchasing one type of cryptocurrency for another, such as buying ether with bitcoin, is also taxable.