TaxBit

Payment provider company PayPal has lifted the purchase limit of bitcoin and other cryptocurrencies to $100,000 per week for eligible customers in the United States and removed annual limits altogether. The company is also getting rid of its yearly purchase limit of $50,000. PayPal's weekly crypto purchase limit was $20,000 in February. The payments giant first let customers buy, sell, and hold cryptocurrencies — bitcoin, ethereum, bitcoin cash, and litecoin — directly from their PayPal accounts in October 2020, following…

Tax authorities worldwide try to benefit from the wealth in cryptocurrency with varying degrees of success. Countries like the UK, Israel, Denmark, Switzerland, Argentina, and Bulgaria all have crypto taxation laws in different classifications. However, other countries allow their citizens to trade cryptocurrency with zero taxation. These include Portugal, Germany, Singapore, Malta, and Malaysia.  While countries have made milestones in cryptocurrency taxation, understanding the process is still complicated. Some guidelines are vague or sophisticated, which frustrates crypto users who wish…