Bitcoin is a digital decentralised method of payment and even though users’ identities remain private, the transaction of every bitcoin can be traced using blockchain technology. This is a database that is shared by the bitcoin community. Bitcoin tax is completely dependent on the country, the IRS in the U.S said that they considered it as property, and they calculate each transaction as capital gains tax.
How to use Bitcoin to purchase property
The only thing needed for a transaction is for both parties to agree on this method. Bitcoin hopefuls are trying to purchase various things with Bitcoin like pizza, pay for doctor visits and even buy property. Continue reading