Right now the markets are rising in our favours. Too bad the worlds markets are in FIAT.
Right now i wish to pay off some credit card debts i have. All in FIAT of course and yes i know i will have to pay tax on the capital gains.
Would i be making an ok choice to sell off some ETH right now to CAD to pay some debt off. as where markets are im in the position.
just wondering on the tax i have to pay, would i be paying more tax then what i will be writing off in credit card debt? thanks
Only resposible answer anyone could give you is, yes, if you have money to pay your debt, maybe you should do that.
I might not do that though, but i am someone who is risking a lot by not doing that. Also it depends if i had still some in crypto or if i had to cash out everything to pay that debt.
Because if that's just part of your investments, it's a no brainer that you should pay it, i would too.
Also you don't mention if that's only way you can pay your credit card debts, can you sell something else to pay it, or can you save money to pay it? Because i have a feeling that ETH is going way higher later on, so i might leave some eth for that. So ask yourseld would you be ok if it did and you didn't hold any eth at the moment