Crypto taxes vary widely by country, but the core ideas are surprisingly similar. This guide covers the principles that apply in most places, so you can ask the right questions and keep the right records. Always check local rules or speak to a tax professional.
Crypto taxes: what is usually taxable
| Action | Typical treatment |
|---|---|
| Selling crypto for cash (USD, EUR, MAD…) | Capital gain or loss |
| Swapping one crypto for another | Often a disposal (but not everywhere) |
| Spending crypto (including with a card) | Often a disposal |
| Staking, mining, lending rewards | Often income when received |
| Being paid in crypto | Income |
| Airdrops | Varies; often income |
Usually not taxable
- Buying crypto with cash and holding it.
- Moving crypto between your own wallets (keep records to prove it was yours).
- Gifts below local thresholds, in some countries.
Example of differences: in the U.S., the IRS treats digital assets as property, and crypto-to-crypto swaps are taxable (IRS digital assets page). Greece’s new draft law would not tax crypto-to-crypto swaps and would tax gains at 10% with a €500 exemption (our report).
How a gain is calculated
Gain = what you received − your cost basis
Your cost basis is what you paid, including fees. Example:
- You buy 0.01 BTC for $650 (including fees).
- Months later you sell it for $828.72 (0.01 × $82,872, bitcoin’s price at 15:25 UTC on Oct. 9, per CoinGecko).
- Gain: $828.72 − $650 = $178.72.
If you bought at different prices over time, your country’s rules decide which coins you “sold first”: FIFO (first in, first out), average cost (as in Greece’s draft) or specific identification. That choice can change your tax bill significantly.
Holding periods and rates
Many countries tax short-term and long-term gains differently. In the U.S., assets held over a year qualify for lower long-term rates. Germany currently exempts crypto held over a year, though it has proposed ending that for coins bought from 2027. Some countries charge a flat rate. Others treat crypto as ordinary income.
Losses can help
Selling at a loss often creates a capital loss that can offset gains, and some countries let you carry losses forward. Greece’s draft allows five years, for example. Rules on “wash sales” (selling and quickly buying back) differ by country.
Crypto taxes reporting is getting stricter
Tax authorities now get more data directly from platforms:
- EU, DAC8: crypto service providers must collect and report user and transaction data, with automatic exchange between member states starting in 2026.
- OECD, CARF (Crypto-Asset Reporting Framework): a global standard for exchanging crypto tax information that dozens of countries have committed to.
- U.S., Form 1099-DA: brokers report digital asset sales to the IRS, starting with 2025 transactions.
The days of crypto being “invisible” to tax authorities are ending. Several countries, including Greece, are pairing new rules with voluntary-disclosure windows for past gains.
Records to keep for crypto taxes
For every transaction:
- date and time,
- asset and amount,
- value in your local currency at that moment,
- fees paid,
- the platform or wallet involved,
- the purpose (sale, swap, payment, transfer to yourself).
Export your history from every exchange regularly. Platforms close, merge or delete old data. Crypto tax software can import exchange files and wallet addresses to do the calculations.
Common mistakes
- Forgetting that swaps or card spending may count as disposals (crypto cards explained).
- Not recording staking rewards when received (staking explained).
- Losing the cost basis for coins moved between wallets.
- Ignoring small transactions. They add up and are now reported.
- Falling for “tax refund” or “crypto tax recovery” scams (how to spot scams).
CryptoVank’s take on crypto taxes
You don’t need to be a crypto taxes expert, but you do need good records. Most crypto tax pain comes from reconstructing years of history at the last minute. Export your data monthly or quarterly, understand the three or four rules that matter in your country, and get professional help if your activity includes DeFi, staking or many swaps.
Crypto taxes FAQ
Do I pay tax if I just buy and hold crypto?
In most countries, no. Tax usually applies when you sell, swap, spend or earn crypto.
Is moving crypto between my own wallets taxable?
Generally no, but keep records proving both wallets are yours.
Are staking rewards taxed?
In many countries, yes, usually as income when you receive them.
Do exchanges report to tax authorities?
Increasingly, yes, through DAC8 in the EU, the OECD’s CARF framework and Form 1099-DA in the U.S.
Sources
- IRS: Digital assets
- OECD: Crypto-Asset Reporting Framework
- The Crypto Times: Greece’s draft crypto tax law and DAC8
- CoinGecko market data, Oct. 9, 2026, 15:25 UTC
This article is for information only and is not tax, legal or financial advice. Rules differ by country; consult a qualified tax professional.
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