What are the tax implications of using the Bitcoin Ordinals Marketplace?

submitted 3 weeks ago by auroragrace to bitcoin

When using the Bitcoin Ordinals Marketplace, it is essential to understand the tax obligations associated with your transactions. In many jurisdictions, Bitcoin is considered taxable property, subject to capital gains tax. Each time you buy or sell Bitcoin on the marketplace, you may incur tax liabilities. It's advisable to consult with a tax professional or research the tax laws applicable in your country to ensure compliance and avoid any legal complications.

source: https://www.blockchainappfactory.com/bitcoin-ordinals-marketplace-development