So I've been investing in cryptocurrencies for a few months now and want to do a little bit of swing/day trading. I'm only thinking about doing it with $1,000 for some fun "on the side" cash, not to get rich.
Got a couple of questions for you guys:
1.) Where would you do day/swing trading? A regular exchange likely has too high of fees. IE: Coinbase.
2.) How do you keep track of all of your trades for tax purposes?
I think that one of the best exchanges for introday trading is binance. Actually, such kind of traders are very beneficial for exchanges, so they encourage those, who trade every day and give them discounts.
What comes to taxes, I haven't ever withdrawn my money from crypto, but as I know, none of my friends has payed taxes as well, only fees of banks and exchanges.