What are some strategies to legally minimize taxes on cryptocurrency earnings?

1 answers

• Dec 17, 2021 · 3 years ago
  At BYDFi, we understand the importance of minimizing taxes on cryptocurrency earnings. One strategy we recommend is to utilize tax-loss harvesting. This involves selling investments that have experienced losses to offset gains in other investments, thereby reducing your overall tax liability. Additionally, consider utilizing tax-efficient investment vehicles such as exchange-traded funds (ETFs) or index funds, which can help minimize taxable events and provide long-term growth potential. It's also crucial to stay informed about any changes in tax regulations and consult with a tax professional who specializes in cryptocurrency to ensure you're maximizing your tax savings.
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