Wednesday, February 10, 2021

Tax-free, inexpensive way to move Bitcoin from Paypal to hardware wallet?

Hello,

Long-time Bitcoin skeptic here. I finally started purchasing Bitcoin at 30k at Paypal ...since there were complications in setting up my Coinbase account. Now I have my Coinbase account setup and a hardware wallet. My latest Bitcoin purchases have been on Coinbase, but what should I do with my Paypal Bitcoin?

Is there a way to move my money from Paypal to my cold wallet that isn't expensive or a capital gains event? Of course I can sell in Bitcoin in Paypal and rebuy in Coinbase but both charge a lot and I don't want to pay capital gains tax on my sold Bitcoin.


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