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Crypto Holdings Review January 2021

avatar of @revisesociology
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Zebedee
@revisesociology
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2 min read

I had thought to stop reviewing my Crypto holdings for fear of the UK taxman tracking me down, but having looked into Crypto taxes in the UK, I've really nothing to worry about - as long as I don't make more than £12 300 a year from crypto trades I have 'nothing to declare' and I'm no where near that since I don't really trade crypto much - I tend to buy and hold.

And even if I do tip over that £12 300, I learnt last week that I only pay 10% on the next £10K or so profit, because my income is relatively low (there's an almost £40K threshold of capital gains + income before you hit the dreaded 20% tax bracket.

So until I 'realise' >£20K (NB that's in pounds, so about 30% more for dollars) in gains, I've nothing to worry about.

If it comes to it, I'll just need to be careful about how much I trade coming towards to the end of any given tax year if I want to minimise the amount of tax I'm going to have to pay, which is perfectly legal.

Eventually I'll change my tax based to Portugal so this won't be a problem!

Main crypto holdings in January 2021 (>$1000)

I am very happy with this balance - with 40% in BTC and then around the same split across Hive/ Leo and Splinterlands.

And then 20% spread across ETH and with smaller amounts in Rune and AVA, and less Litecoin that i use to have.

The main changes from my last review are that Hive has reduced in price (so that's no tax to pay there!) and I've bought more Rune and AVA with mainly my LTC - this is a big win for LEO - I got both of those tips from leofiance and they've both done very well!

NB This has changed a bit since my last review at the end of November , when my spec was to show my largest holdings >$200!

Holdings < $200

The rest is barely worth $1000, but you know crypto, there is a reasonable chance that any one of these below with 10 times in 2021, in which case that's either some BTC or doughnuts.

A lot of these are my bags from 2017, but the one's I'm most optimistic about are....

  • BAT
  • RFOX (behind Koggs)
  • MANA

I do have a few other bits and pieces, but insignificant amounts of just a few other Cryptos. I just need some people more stoopid that I was in 2017 to pump them so I can consolidate.

And I have a lot of faith in the unending stupidity of humanity, so I'm sure that'll happen at some point over the next few years!

Posted Using LeoFinance Beta