Is cryptocurrency taxed?
Well, that’s a complicated one. Coinmama serves customers in over 188 countries, so it depends on where you live and pay your taxes. Different countries have different rules and regulations.
In the USA, where many of our customers live, cryptocurrency is classified as property, and transactions are taxable just like transactions relating to any other property. So, if you sell your crypto and it has increased in value since you bought it then you owe tax.
We strongly recommend contacting an accountant or financial advisor local to your area for advice on how crypto is taxed in your region.
