#TrumpBitcoinEmpire How to invest in cryptocurrencies from the U.S. without issues with the IRS.

$BTC $ETH $BNB

For Latinos residing in the United States looking to invest in cryptocurrencies, the first step is to understand the current tax framework. The IRS (Internal Revenue Service) considers digital assets as property, which means that all transactions must be reported, even if they do not generate direct profit.

Since 2023, Form 1040 - the most common tax declaration document - includes a specific box regarding digital assets. This section requires a response to whether, at any point during the year, you received, sold, exchanged, or simply held financial interest in cryptocurrencies. Failing to mark it correctly can result in penalties for omission of information (IRS Form 1040, 2023).

#BTCvsETH Which exchanges are safer for residents?.

Not all international exchanges are authorized to operate in the U.S., and some have state-specific restrictions. However, there are regulated and reliable platforms for Latinos looking to start or expand their crypto investments:

✨Coinbase: Backed by state licenses, offers tax reports and support in Spanish.

✨Kraken: Strong reputation and tools for experienced traders.

✨Binance.US: Operates in several states with competitive fees, although with fewer features than its global version.

A good practice is to verify that the exchange provides 1099-type reports, which facilitates compliance with the IRS.

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Preferred cryptocurrencies by Latinos in the U.S.

According to recent data from firms like Chainalysis and Kaiko, many Latinos residing in the U.S. prefer to invest in:

USDT and USDC: as an alternative to traditional bank accounts and for sending remittances.

Bitcoin and Ethereum: for their liquidity, institutional acceptance, and greater legal clarity.

Artificial Intelligence (AI) Tokens: such as FET, AGIX, or RNDR.