Crypto Cash – Do I have to pay taxes?

Crypto Cash is a provider that you can use to trade currencies like bitcoin. Bitcoin has been in the news a lot in recent months and weeks, as these currencies have been setting new records over and over again.

Many banks are now also investing in the Bitcoin, so that the confidence of the population in the Bitcoin and other cryptocurrencies has also increased as a result.

Via Crypto Cash, you can not only trade the Bitcoin, but also the currencies that are traded in the background of this currency. Many of these people who are also becoming more and more interested in the topic now also want to try out their own luck and become active on the market.

If this is the case, Crypto Cash is probably a very good partner. If you manage to make a profit in the long run, you will have to ask yourself at some point how to handle the profits with Crypto Cash.

The question of how to tax the winnings is very important, as you should not make any mistakes, especially in Germany.


Crypto Cash - Do I have to pay taxes?

When do you have to pay tax on the profits from Crypto Cash?

First of all, you have to distinguish between paying taxes and declaring the income in your tax return. The profits you make on Crypto Cash must always be declared on your tax return, but this does not mean that you necessarily have to pay tax on these profits.

Taxes are only due when you have earned a profit of more than 600 euros within a calendar year. Everything below this amount does not have to be taxed in the end, so you can pay out a small profit within the year without any problems.

Especially if you are a beginner, this is very important, so that you know beforehand that you can deal with Crypto Cash and don’t have to pay tax on every cent directly when you manage to get profits.

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What exactly counts as profit?

Wins at Crypto Cash are calculated from deposits and withdrawals in a calendar year. If you have received more payouts than you deposited, this is the profit you have to declare on your tax return.

Because the calendar year is counted, you can also decide for yourself when to pay tax on the profit. If you have made a large profit on your Crypto Cash account towards the end of the year, you are not obliged to pay it out.

If you wait until the new year to pay it out, you can postpone the tax burden until the next year. There are reasons here and there where it can make sense to postpone the payout to the coming year.

  • Luke Handt

    Luke Handt is a seasoned cryptocurrency investor and advisor with over 7 years of experience in the blockchain and digital asset space. His passion for crypto began while studying computer science and economics at Stanford University in the early 2010s.

    Since 2016, Luke has been an active cryptocurrency trader, strategically investing in major coins as well as up-and-coming altcoins. He is knowledgeable about advanced crypto trading strategies, market analysis, and the nuances of blockchain protocols.

    In addition to managing his own crypto portfolio, Luke shares his expertise with others as a crypto writer and analyst for leading finance publications. He enjoys educating retail traders about digital assets and is a sought-after voice at fintech conferences worldwide.

    When he's not glued to price charts or researching promising new projects, Luke enjoys surfing, travel, and fine wine. He currently resides in Newport Beach, California where he continues to follow crypto markets closely and connect with other industry leaders.