Hi.
i didn't traded so much of my crypto for FIAT so i didn't dealt with that question yet.
however i think it's an issue need to be dealt with.
1. do you use accounting services?
2.if so, do you keep documentation of all traded or bought coins?
3. what do you do in cases of profit from ICO's
WHAT SHOULD I DO??
For me though:
1 No, since it is impractical to avail of such services with the current value of crypto I have in my wallet.
2 I don't document becuase the wallet I'm using keeps a record of transactions I have made. But I am thinking of keeping an excel file for the trading (buy and sell) stuff's in the future. For now Im just holding on to what coins I have.
3 Hold and accumulate more coins and then trade them in trusted trading sites. It is very important to consider the transaction fee! Because you might not realize that the fee you are going to pay is much more expensive than the amount you are going to transfer. So just hold and acummulate and dont transfer if it's going to be a break even.