Questions like “what are my tax liabilities?” and “is my loan’s interest expence tax deductable?” are all common questions we see from borrowers. To help clear up some of the confusion, we’ve put together a blog post on crypto lending and taxes, including our attempt to answer some of your most frequently asked questions.*
Crypto Lending and Taxes. What you need to know
* Due to the complexity of tax law and changing legislation, you should consult with your tax professional regarding your specific circumstance. The information contained on this site does not constitute tax advice.
Hold and Borrow against your digital assets
A PERSONAL LOAN MAY BE RIGHT FOR YOU IF:
- You are a long-term holder of bitcoin and don’t want to sell more than you already traded.
- You need cash for taxes and other expenses.
- A huge part of your personal net worth is held in Bitcoin.
- You trade often in Bitcoin or between Bitcoin and other cryptocurrencies.