You are viewing a single comment's thread from:
RE: 📈 Blockfolio: If you are investing/trading cryptocurrency and aren't using this yet, you should! Best and easiest tool for tracking your investments! 📱
I think i answered my own question. It is basically a tax and accounting problem. Anything you earn that is reinvested should be recorded at its market value as earnings. That way the earnings are taxable at current value but your portfolio cost basis gets recalculated so that the capital gains cost basis is correct. This avoids you getting taxed twice.
Ah yes, for tax purposes I am not sure this program really helps. There doesn't seem to be any way to export the data in any way. Though it would be rather handy if it were possible, so you can easily do taxes too at the same time!
I think though that as long as you don't sell for dollars, you don't actually get your fiat money back out of it. USDT is US-Tether, which is not dollars but also a cryptocurrency. So as long as you keep it in cryptocurrencies, even Tether, you have not really sold? I'm not sure though.. it's vague