Taken my first steps towards a bitcoin standard. I now transfer my monthly fiat pay to bitcoin and then sell on a monthly basis to pay off my credit card.
Still deciding on whether to use Koinly or Recap for UK tax.
Discussion
or my whether a tax. pay and bitcoin now steps monthly bitcoin to sell use monthly my UK transfer standard. fiat Recap for on I on towards basis pay then off Koinly
Still deciding credit to to Taken my card. first a
This is assuming Bitcoin will go up every month ? Personally I wouldn’t sell the Bitcoin or I would keep it for longer time period and use fiat for bills.
Very true. But for me it wasn’t about making fiat gains, but about being the change and doing my accounting in Bitcoin first. I did some historic modelling and over a four year cycle I would net both fiat gains and Bitcoin stack gains by adopting this approach.