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Taxes arent that bad, it’s only considered a capital gain when you sell or exchange. So not really any worse than crypto generally although potentially annoying
by jrsj 5y ago
Taxes arent that bad, it’s only considered a capital gain when you sell or exchange. So not really any worse than crypto generally although potentially annoying if you don’t keep it in mind.
As for the legality, I don’t think there’s much risk of them being declared illegal or anything. Eventually the space will be more regulated etc and most likely yields will decline but it’s still better than you’re going to get in a money market account or with bonds or something like that
- vineyardmike 5y agoI meant the taxes from dealing with usdc et Al. If it’s a security, then any trade of usdc for another coin is a taxable event, and all “interest” payments are… what? Not sure if that’s just considering income like mining or what.