Cannon shares 4 common pitfalls for beginner crypto investors to avoid.
Here are a few of the most common pitfalls for beginner crypto investors and how to avoid them, according to Cannon.
Not thinking about cryptocurrency tax implicationsSimilar to stocks, you'll need to pay capital gains taxes on crypto transactions.
If you purchase crypto on a crypto exchange, you'll typically be issued a cryptocurrency Form 1099 to fill out.
However, President-elect Trump also suggested eliminating capital gains taxes on crypto.
Persons:
Robert Cannon, Cannon, El, Donald Trump Bitcoin, —, cryptocurrency, Charles Schwab, Trump
Organizations:
Fidelity, Bitcoin, Franklin Bitcoin
Locations:
El Salvador, bitcoin