In the best case, recipients will even avoid taxation. The important thing here is whether chance or a random element decides on the amount of the airdrop or whether the amount of the rewards to be received has already been precisely defined from the start. If chance comes into play, then this element overrides the connection between performance and reward. You enter an airdrop sweepstakes. Can win rewards ranging from 5 to 200€. These types of airdrops are not taxable when received.

The terms “exchange” and “swap” are often used interchangeably. The spending of cryptocurrency for goods (e.g., a computer) or services constitutes a sale transaction. A swap is thus tax neutral, unlike an exchange. This is incorrect. A swap actually means an exchange of coins within a project, such as temporarily issued ERC20 tokens that are “swapped” into the project’s native blockchain token. Accordingly, crypto gains are also taxable if the crypto was held for less than a year.

The advantage of this is that larger positions can be traded even with little capital. Instead, investors speculate on the rise or fall of an asset in the future. Futures trading does not involve buying or selling crypto assets. The classification as a forward transaction means that income from margin trading is subject to a flat rate of 25% capital gains tax. As a rule, interest also accrues here. However, the tax-advantaged one-year holding period cannot be applied to capital income.

Crypto Trading Chart Pattern Books

Should this change, we will of course let you know here. When all users agree on it, the new version replaces previous ground rules of the currency. Examples of hard forks are Bitcoin Cash and Bitcoin Gold, which were created by a fork from the Bitcoin blockchain and henceforth exist independently. A fork describes a change or fork in a blockchain protocol. With hard forks, the so-called footprint theory comes into play. Soft forks are more comparable to software upgrades. In principle, a distinction is made between directional hard forks and more modifying soft forks.

The so-called passive staking is in principle not seen as a commercial activity. If a stock exchange price is available, this is to be taken as the market price. “The acquisition costs correspond to the market price at the time of acquisition of the units of a virtual currency or other token (derived from Section 6 (6) sentence 1 EStG). All further details and changes brought by the BMF letter can be found in our detailed Blockpit article BMF Letter Cryptocurrencies. Rewards from Lending are defined as acquisition transactions in the BMF letter.

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