Quote from: Kelward on Today at 02:24:12 PM

Quote from: pakhitheboss on Today at 01:32:27 PM

Quote from: Sayeds56 on May 05, 2024, 03:24:40 PM

It sounds good that most of the time you make investment in Bitcoin which is a prudent decision in view of leading its leading role in cryptocurrencies market with it distinguished features. As far Shiba Inu, whether to hold it or sell them in bullish market is ultimately your choice depending on your fincnail circumstances and risk tolerance level, however if were in your shoes, I would consider converting most of them into Bitcoin.

After I decided to keep those tokens on my local exchange, I discovered that my country's tax law requires me to pay a 30 percent tax on any capital gains and a 1 percent TDS (Tax Deduction at Source). This means that if I sell those coins, I will end up paying more in taxes than I would make from the airdrop. Therefore, I have decided to hold onto my Shiba Inu tokens until they have a USD value that is high enough to cover the taxable amount. In short, I am not going to do anything with these coins until I believe they are profitable for me after taxes.

You've pretty much summed up what you should do now, considering the tax law in your country, because it won't make financial sense to sale at a lose. As it is, it's best to hold on to your Shiba Inu, till it's value reaches what can be meaningful to sale and convert to fiat or reinvest in a reputable crypto like Bitcoin. Although I consider Shiba Inu, as a top altcoin that is worth holding, because it's not a scam project, people are however speculating that it's market cap, could make it not to be very bullish in this season. Your not left with much choice but to keep holding it, good luck.

What you are saying is what I realized after a day. The government will make my life hell even though it is a small amount of money. It is better for me keep it dormant unless those tokens are giving me a good multiplier, to which I am expecting somewhere around 10x or more. Already those tokens are again pumping due to sudden surge in Bitcoin price. I think it is evident for me to keep posting returns from those tokens for everyone here to contemplate whether meme coins can make them rich in some time or not.