Ripple : Tax and XRP

Ripple update: Tax and XRP

So obviously if you sell XRP you have to pay taxes on the money you make, but what if you don’t sell it and instead use it? Like what if instead of selling XRP I used it to buy things, would I still have to pay taxes? I wouldn’t right, because if I bought 1000 euros, and the value of the euro went up I could just spend it. I know that’s a bad example because they are so different but you know what I mean?

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About Ripple (XRP)

Ripple connects banks, payment providers and digital asset exchanges via RippleNet to provide one frictionless experience to send money globally. Banks and payment providers can use the digital asset XRP to further reduce their costs and access new markets. XRP is the fastest and most scalable digital asset today.

Author: SestoKnight

Score: 4

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