Desperate to join the fun, I applied to MaxCoin.
I was rejected, seemingly because I’m from the UK. Has anyone else had this problem? Is there a way round it?
The Maxcoin helpdesk was prompt in replying to my request for reasons, but referred me to an EU website about data protection.
Who knows, I just want to have some fun with it. Seems ideal for gloating about one’s great wisdom in the case of a win and pretending nothing happened in the event of a loss. Life in miniature.
Many people aren’t aware that any exchange of cryptocurrencies is a taxable event. Crypto is taxed in the same manner as gold or property. The common misconception is that because crypto is anonymous, it’s not subject to taxation.
This couldn’t be further from the truth. Governments in many countries are clamping down on crypto markets and transactions by introducing new legal and regulatory frameworks that seek to increase the traceability of crypto-asset transfers.
There are programs (called “apps” these days) that will do all the tax calculations for you - look into Koinly and the like. Not that big a deal, really. They even provide you with the appropriate tax form to file with once the calculations are done. As long as you don’t hold your crypto across multiple platforms, you should be ok.