- Oct 1, 2008
no its not cgt its income tax if you buy and sell short term its income tax long term cgt can only then be argued and we talking 1-3 years not 1 monthJust to make it super clear. If you are trading BTC/ZAR or BTC/USD or any CRYPTO/ZAR pair that the moment you sell BTC back to ZAR and then buy with ZAR back into BTC the value moving from BTC to ZAR is taxable on capital gains if any gains were achieved on the movement.
Anyone trading longterm in BTC should consider derivative platforms where their capital remains in a crypto asset at all times to avoid capital gains at least until/if they decide to make Crypto directly taxable in itself which would be incredibly hard to do so i doubt this would ever happen.
If you have no interest in leveraged trading then just stick to 1x leverage if you decide to "buy" ie. go long. If you decide to not be in a position then just exit the Long and sit on the BTC balance until you feel you need to go Long again. If you get more experience then you can also start to work on going the sell direction ie. 1x Short. This is the safest non capital gains way to increase your BTC holdings without dealing with taxable fiat.