Pragmatic Cryptocurrency

What is cryptocurrency and how is cryptocurrency different that other currencies?
How do I buy and trade cryptocurrency?

USA – crypto as property

The latest guidance from the IRS instructs crypto to be treated as property. Much like other kinds of property, you will need to pay capital gains on money made from a sale.

However, the IRS does not tax cash rebates on items you purchase. I highly recommend staking some CRO to get access to the higher cash back rates of the Crypto.com cash back debit card. All CRO paid out as cash back rewards I pay no income tax on.

What hasn’t been explicitly specified is how to treat interest from cryptocurrency lending. Most in the crypto space send out 1099-MISC forms for reporting the interest income: