Taxes on Bitcoin & Co.: Tax crypto profits correctly

2023-11-29 13:00:00

Profits made from mining Bitcoin or other cryptocurrencies are generally subject to tax from the moment they are exchanged for a conventional currency such as euros or dollars. Even if other cryptocurrencies are purchased with the proceeds, this is a taxable transaction. In this particular case there is no set exemption limit. Accordingly, the first euro earned is taxable and must be stated accordingly in the tax return. However, if you hold the Bitcoin from mining for more than a year, the profits are tax-free because the holding period also applies here. However, if you do not plan to sell the mined Bitcoin, these unrealized profits are not taxable.