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How to cash out crypto without paying taxes

Do you pay taxes on crypto if you reinvest it? However, they can also save you money. Crypto uses a technology called blockchain, which is a decentralised processing and recording system that is thought to be more secure than traditional payment methods. Related Articles.

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If you consciously use this to your advantage, this is called tax-loss harvesting. The simplest way to minimize your tax burden is to wait 12 months or longer to dispose of your crypto. Do you pay taxes on crypto losses? Additionally, any gains on your cryptocurrency before moving and establishing bona fide residency in Puerto Rico are still taxable in the United States at the applicable tax rates. New Zealand.