I’m sure everybody loves paying taxes, but I am no expert but say with this current drop In price if I moved bitcoin outside of the US and to an El Salvador wallet, would that be saving on the future sale of bitcoin or what would that look like for capital gains?
I’m asking for a friend, I already lost all my bitcoin in a boating accident.
Bitcoin in El Salvador is still being developed as well as other cryptos. Stuffs like bitcoin wallet doesn't give off much benefit yet because things are yet to be settled there. Someday, maybe it would save us from fees and taxes whenever we use a wallet pinned in El Salvador but for now, it's not ideal yet. If you want a better outcome or services in crypto, move to El Salvador yourself and enjoy the benefits such as free citizenship and proper treatment for crypto enthusiasts. Also, let us hope it would work well for El Salvador so the world will have an idea on how great crypto really is.