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
Yep. I don't really like having any sort of debt under my name so before I do any DCA'ing, I try to pay off whatever the hell it is that needs to be paid off. Losing a month or two of DCA cycling is I'd say worth it if I can have no debts under my name. In the first place most people would reconsider investing if they have debts so maybe plan that out after this cycle of payments so that you can avoid being in debt? 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
As for the taxes part, better to ask a lawyer in your area or someone similar. They'd probably know more than some random internet stranger
