Thursday, February 4, 2021

Is it worth getting a cryptocurrency debit card in the United States with capital gain tax implications?

I would love to be able to use a cryptocurrency debit card in the United States and use it for many of my purchases that I may make on a daily basis. My concern is that each time you made a transaction it would initiate a taxable event where capital gains would have to be calculated during the tax season. Sure you could put dollars in USDC or other stable coins but what if you want to utilize Bitcoin or Ethereum coins?

Is there anyone who is currently using such a debit card? Would you recommend it, is there a particular card you would recommend in the United States? How do you address the tax issues as stated above?


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