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
You are talking about credit card debts which has to be cleared of on time no matter what, so just sell if ETH is the only possible way to generate money at the moment. Credit cards should be used wisely cause it can make a dent in our credit score and they will last for decades and in every future loan application so try to avoid using credit cards if you don't have a stable source of income.