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re: Safemoon crypto currency up 4783% in a month
Posted on 4/20/21 at 10:20 am to Shameless
Posted on 4/20/21 at 10:20 am to Shameless
Depends on how quickly you convert. The price of BnB coin doesn't matter if you quickly convert it to safemoon. And vice-versa, when you want to sell, you can convert it to a stable coin like tether,which is always $1.00
1
Posted on 4/20/21 at 11:03 am to zzgobucky
quote:This is correct.
Depends on how quickly you convert. The price of BnB coin doesn't matter if you quickly convert it to safemoon. And vice-versa, when you want to sell, you can convert it to a stable coin like tether,which is always $1.00
And everyone needs to note that anytime you jump from USD to Coin X to Coin Y back to Coin X to USD, each jump is a taxable event.
For example: buying BNB, converting to Safemoon, converting back to BNB and then converting to USD is 3 taxable events.
This post was edited on 4/20/21 at 11:05 am
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