Questions And Answers
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When do I start paying tax on cryptocurrency?
I bought three bitcoins in April 2019 and paid around £10,000. I decided in November 2021 to exchange my bitcoins for other crypto currency and I think they were worth around £145,000 at the time. The new crypto currencies have sent me airdrops of new tokens and some have allowed me to stake my holding to receive new tokens. I assume that since I haven’t converted any of my crypto currency to sterling, I don’t need to pay any tax yet?
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