Cryptocurrency Q&A
How long does it take to hold crypto?
How long does it take to hold crypto?
TaegeukChampion
Thu Dec 05 2024
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6
answers
1756
I'm wondering about the duration of holding cryptocurrency. Specifically, I want to know how long it typically takes or is recommended to hold crypto.
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6 answers
SumoMighty
Sat Dec 07 2024
Generally, if you keep your crypto for more than a year, you will be subject to a lower tax rate compared to selling it immediately.
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Alessandra
Sat Dec 07 2024
The tax rate for long-term gains is reduced, which is considered as capital gains tax.
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KatanaSword
Sat Dec 07 2024
The specific rate you pay for long-term capital gains tax depends on your income level.
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Tommaso
Sat Dec 07 2024
At the federal level, the tax rates for long-term capital gains can be 0%, 15%, or 20%.
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Moonshadow
Sat Dec 07 2024
Holding onto your cryptocurrency for an extended period before selling can lead to favorable tax implications.
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