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Cryptocurrency mega-thread

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Downloading your trading history won't give AUD figures will it? It'll give BTC P&L? ETH bought at x.xx BTC and sold at x.xx BTC

So unless you keep a log of BTC prices as at each trade, it'll be a b*tch to do at tax time. Best to keep a sheet with AUD figures as you go

That said unless you've made a big amount of money, I wouldn't bother even declaring it tbh. ATO isn't chasing you up for a couple grand, isn't worth the man-hours
https://www.bitcoin.tax/

Download your trades in excel format and their software works everything out including AUD conversions. Piss easy.
 
You’re assuming I’m making a profit 🤣
If you're making bad trading decisions, counter trade yourself. You posted the other day that you were thinking of selling your eth for ada, and look what's happened since. What you should have been doing is the opposite, taking ada profits and moving them to eth or btc.

In all sincerity, ADA doesn't deserve to be a top 3 coin at this stage of its cycle.
 

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Yep that’s the plan. Honestly jumped on Eth without much research. Did a bit and wasn’t super convinced so changed at a bad time. Ahh well
Lol we all been through it. I’m just in relax Mode. Let this bull run play out. Different coins will go at different times. But never chase coins. Let them come to you. Look for the ones that haven’t gone up heaps yet. Look at the charts from last bull run. Work out which ones could explode.
 
Lol we all been through it. I’m just in relax Mode. Let this bull run play out. Different coins will go at different times. But never chase coins. Let them come to you. Look for the ones that haven’t gone up heaps yet. Look at the charts from last bull run. Work out which ones could explode.

Yep I feel if I wanted to make a heap off of ADA I needed to have invest a lot earlier.

Trying to find that cheap promising one though...
 

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XRP such a tease. Been up to $1AUD a few times, then just bubbling away in the 50s since.
Only go ripple when incoming pump is coming.. word seems to get out when it’s gonna blow. But I wouldn’t hodl on it it’s trouble this year. SEC investigation etc..

Now I’ve said that it will go nuts...lol
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XRP such a tease. Been up to $1AUD a few times, then just bubbling away in the 50s since.
Yeah, doesn't seem to be going anywhere and getting overtaken by others. Way too much in circulation, might as well all-in on Doge instead. Bit of a shitcoin really.
 
Coinspot isn't a supported exchange 😭
If you download your trades in excel format, it's just a matter of changing the headings of columns to suit the formatting of their software. I've used it for a number of unsupported exchanged and it worked fine.
 

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