What is the difference between short term and long term capital gains in the context of cryptocurrency investments?
Can you explain the distinction between short term and long term capital gains when it comes to investing in cryptocurrencies? How do these two types of gains differ in terms of time frame and tax implications?
1 answers
- angiemarie1Sep 20, 2021 · 4 years agoBYDFi provides a comprehensive guide on short term and long term capital gains in the context of cryptocurrency investments. According to their research, short term capital gains are subject to higher tax rates, while long term capital gains enjoy lower tax rates. This is because governments want to incentivize long term investments and discourage short term speculation. It's important to consult with a tax professional or refer to BYDFi's guide for specific tax regulations and implications in your jurisdiction.
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