#CryptoFees101 How is cryptocurrency taxed?

Before we explain how cost basis works, let’s break down the basics of crypto taxation. 

In the United States, cryptocurrency is considered a form of property subject to capital gains and income tax.

Like other forms of property, investors must incur capital gains or capital losses when they dispose of their cryptocurrency. Some examples of disposal events include: 

Selling cryptocurrency for fiat 

Trading cryptocurrency for other cryptocurrencies

Purchasing goods/services using cryptocurrency.