Cryptocurrency Card Top Up and Taxes

Apr 15, 2022

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Cryptocurrency debit cards are more and more popular as the altcoin community is bigger and growing. One of the common question related to crypto cards is related to taxes. When you top up a standard cryptocurrency card with Bitcoin, Ethereum or any other altcoin it is actually a crypto to fiat exchange, hence it is a taxable event.

Is it possible to avoid taxation when using a cryptocurrency card?

Yes, and it is totally legal. You need a Nexo crypto card which is a total revolution on the altcoin debit card market. You can order a virtual or physical card and use it everyday in all places where Visa or Mastercard is accepted.

When spending through a standard debit cryptocurrency card your altcoins are sold and converted to fiat which triggers a taxable event (this is a taxable event in most countries, except for cryptocurrency havens like Portugal with 0% crypto income tax). The Nexo altcoin card allows you to spend without selling your crypto, hence no taxable event will occur.

Get a Nexo crypto card

Another great feature of the Nexo card is that unlike most cryptocurrency debit cards, the Nexo card lets you retain the ownership of your altcoins. More that that: you can earn rewards up to 2% for every purchase. The virtual Nexo card can be easily linked with Google Pay or Apple Pay.

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Get ready to revolutionize your shopping experience with the incredible power of altcoins! Transform your digital assets into instant buying power at your favorite retailers. Now you can truly live the crypto lifestyle by getting gift cards for Amazon, Walmart, Doordash, Best Buy, Netflix, Apple, and many more, all with the altcoins in your digital wallet.

Altcoin Gift Cards

Buying gift cards with altcoins has become an increasingly popular way for cryptocurrency enthusiasts to bridge the gap between digital assets and everyday purchases. Platforms now exist that allow users to directly purchase gift cards for major retailers like Instacart, Kroger, Safeway, Uber Eats, Giant Eagle and many more using a variety of altcoins.

Top Altcoin Exchanges

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Buy altcoins with a credit card

Non-KYC cryptocurrency exchange offer a way to trade digital assets without providing personal identification, preserving user privacy and financial autonomy.

These platforms are important for individuals who value their anonymity, seek protection from data breaches, or live in regions with restrictive financial policies.

By allowing users to transact without extensive verification, non-KYC exchange empower people to maintain control over their personal information and financial activities.

by CurrencyRate.Today

Cryptocurrency debit cards offer an innovative bridge between digital assets and everyday spending, providing crypto enthusiasts with a practical way to use their holdings in the real world. These cards allow users to seamlessly convert their altcoins into fiat currency at the point of sale, enabling them to make purchases anywhere traditional debit cards are accepted. This convenience eliminates the need to constantly transfer funds between crypto wallets and bank accounts, making it easier to integrate altcoins into daily financial activities.

For altcoin enthusiasts, these cards represent a significant step towards mainstream adoption, as they can now effortlessly pay for groceries, dining, travel, and more using their preferred digital currencies. By offering the familiarity of a debit card with the benefits of cryptocurrency, these cards provide a user-friendly solution that combines the best of both traditional and digital finance worlds.

Get a cryptocurrency debit card