tax and crypto.... uk...
You hold 1 $BTC at a buy price of £50k.
You hold 1 $Eth at a buy price of £1k
You bought 100,000 $KAS at a total cost of £1,000.
1) #Bitcoin is holding £20k unrealised losses
2) #Ethereum has £500 unrealised losses
3) #KASPA is holding £9,000 unrealised gains.
you could
1) Realise 6k gains from $KAS and utilise your capital gains tax-free allowances
2) Realise losses from #Bitcoin by selling for $WBTC and Realise gains from $Kas. This would leave an £11k loss to carry forward into the next tax year
3) Realise losses on $ETH and some $BTC move into $KAS and carry the loss into the next tax year to offset future gains
my only question to this strategy is, how comfortable are you moving btc to a wrap btc in any chain....i am not confy ar all. i consider #btc too precious ... THOUGHTS??