Wednesday, September 8, 2021

Mining nicehash vs unmineable… which favors in terms of taxable events?

I mine on nicehash and get paid in bitcoin which i send to my coinbase account, which then in turn i exchange it to another coin.

So my questions are:

1) will a taxable event get triggered when i exchange from btc to another coin say ADA?

2) is a taxable event when i receive btc on nicehash?

3)Is it better to mine on unmineable and just get paid out in my desired coin , like will that trigger less taxable events?

Any input will be greatly appreciated as I’ve only been mining for about 3 months and just worried about tax time.

Thanks everyone


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