<\/div>\n
What is a cryptocurrency, and what advantages does it have?<\/h2>\n
To start from the beginning, the first thing you should know is what cryptocurrency is. A cryptocurrency is a virtual currency that can be exchanged for other traditional currencies and used as a means of payment or investment<\/strong>. The best-known cryptocurrency is Bitcoin, born in 2009, but later, others such as Litecoin, Ethereum, Ripple and Bitcoin Cash, among others, have appeared.<\/p>\nThe characteristics<\/strong> of cryptocurrencies are the following:<\/p>\n\n- They can be used as a payment system or as an investment.<\/li>\n
- They are not subject to the control of a government or a financial institution.<\/li>\n
- They work through the technology called Blockchain or chains of blocks, designed to avoid modifications.<\/li>\n
- The security and integrity, and balance of your account statements are guaranteed.<\/li>\n<\/ul>\n
<\/div>\n
Why use cryptocurrencies?<\/h2>\n
The use of Cryptocurrencies has several advantages,<\/strong> such as the following:<\/p>\n\n- The costs of each transaction are reduced since there are no intermediaries.<\/li>\n
- Online payments are faster since when paying with a Cryptocurrency, the payment is received by the seller in a few minutes.<\/li>\n
- There is no need for financial agents or third parties to carry out the operation.<\/li>\n<\/ul>\n
Therefore, with cryptocurrencies, we can obtain a profit whether they pay us with them or buy them as investors, and that benefit will have to be taxed.<\/p>\n
<\/div>\n
Crypto taxes in the Income Tax Return (IRPF)<\/h2>\n
If you sell or buy bitcoins or other cryptocurrencies and make a profit or suffer a loss, it is considered a capital gain or loss for the personal income tax declaration. You will have to add it to the rest of the capital gains and losses you have, for example, self-employment or pensions, among others.<\/p>\n
The profit will be obtained by calculating the difference between the price you have paid for the cryptocurrencies and the price you sell them. You will have to add that amount to the rest of the earnings and apply the corresponding percentage according to the personal income tax tables.<\/p>\n
In the case where, for example, you have bought Bitcoins as an investment and have lost money, you can subtract the loss from other gains you have had.<\/p>\n