Hello, community! I'm new to Bitcoin self-custody and would like some help to better understand some issues.
I currently use the Bipa app to buy Bitcoin BTC and then transfer it to my personal wallet (BlueWallet), as I believe that "neither your keys nor your coins". However, with the new 17% tax rule on cryptocurrency profits in Brazil, I'm concerned.
My questions are:
Self-custody vs. Taxation: Does keeping BTC BTC in my own wallet really protect me from being tracked by the IRS?
Legal strategies: Are there ways to not declare or structure transactions to reduce impacts, since the government already collects a lot of money and it all goes to politicians' pockets?
Privacy: Should I migrate to wallets like Wasabi or Samourai (CoinJoin) to increase anonymity?
I appreciate any guidance or experience you can share!
1. Self custody is a way to protect account ownership (bitcoin), not a tax obligation. While many people store Bitcoin in personal wallets that allow them full control and access to the assets, this doesn't exempt you from tax, even though your country may have recently lifted the tax cap. You can read about it here:
https://www.ccn.com/education/crypto/brazil-crypto-tax-explained/?utm_2. The safest strategy, legally speaking, is to hold Bitcoin itself, possibly for the long term.
3. Privacy wallets, such as Wasabi or Samourai, can actually increase anonymity, but they are not a solution for tax avoidance. There is a lot of controversy surrounding this, which you can read about here:
https://arxiv.org/abs/2109.10229?utm_