Questions tagged [crypto]

SamsungShine Fri Mar 29 2024 | 7 answers 1837

I'm sorry, I'm not sure if I understand your question correctly. Cryptocurrency itself is not illegal in Australia, but its use and trading may be subject to certain regulations and compliance requirements. For example, the Australian Taxation Office (ATO) requires taxpayers to declare any income related to cryptocurrencies. Additionally, some cryptocurrencies may be considered securities and therefore subject to the Corporations Act. It is important to consult with a legal professional or financial advisor to understand the specific legal and tax implications of cryptocurrency in Australia.

EthereumLegend Fri Mar 29 2024 | 6 answers 981

Hello, I am a cryptocurrency investor and I have some coins stored in a cold wallet. I've been hearing a lot about the benefits of cold storage, but I'm still a bit confused about how it works. I want to know, will my coins continue to grow in value while they're in a cold wallet? Or do I need to move them back to a regular wallet to participate in any potential gains? I'm also worried about the security of my coins while they're in cold storage. Can you provide any reassurance or advice on this matter? Thank you very much for your time and help.

Luca Fri Mar 29 2024 | 7 answers 1832

I'm a bit confused about the crypto world. I've been hearing a lot about cryptocurrencies lately, and I'm considering investing. But before I do, I want to know if Australian banks accept crypto? I'm not sure if it's a smart move to keep my crypto assets in a traditional bank account, or if I should look for other options. I'm also curious about the legalities of crypto in Australia. Is it legal to buy and sell cryptocurrencies here? And if so, are there any specific regulations or tax implications I should be aware of? I'd appreciate it if you could provide some clarity on these matters. Thanks!

Elena Fri Mar 29 2024 | 7 answers 1505

Good day, I am an interested investor seeking to delve into the world of cryptocurrency. I have been doing some research and I have narrowed down my options to Australian crypto exchanges. However, with so many options available, I am finding it difficult to decide which one is the best. Could you please assist me in this matter? What would you consider to be the top Australian crypto exchange, based on factors such as security, ease of use, transaction speeds, and customer service? I would greatly appreciate your expertise in this matter.

Daniela Fri Mar 29 2024 | 7 answers 1655

I'm a bit confused about taxes and cryptocurrencies. If I invest in cryptocurrencies and end up losing money, do I still need to pay taxes on those losses? Or is it only when I make a profit that I have to report it to the authorities? I understand that taxes are a necessary evil, but I want to make sure I'm doing everything correctly when it comes to crypto investments. Could you please clarify this for me?