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Frequently asked questions
Some experts predict that the price of this coin will get higher when more banks and financial institutes accept and start working with XRP and Ripple networks. If you are thinking about investing in a cryptocurrency, XRP can be a good choice. However, before buying XRP you should do more analysis and read more reviews to make sure it is worth buying.
According to the deadline settlement document of Swiss Federal Tax Service (SFTA), the tax year in Switzerland runs from January 1 to December 31 each year. Crypto holders are taxed depending on the rates published by the FTA by the end of the fiscal year (31 December). Your crypto taxes should be reported in your annual tax return where you also report ordinary income from employment.
According to the tax legislation by SFTA, income from cryptocurrency mining and staking is declared as taxable income for tax purposes. Mining considerations can qualify either as employment income or as income from self-employment.
No. You should buy at least 20 ripples to activate the XRP wallet.
There are two factors that affect the cost of cryptocurrency purchase. The price of the cryptocurrency itself and the exchange commission. Our exchange is practically one of the cheapest means to buy crypto since it does not charge any exchange fee.
Chris Larsen and Jed McCaleb are the founders of Ripple network and its token “XRP”.