New York City coordinations is 40.7128° N 74.0060° W and has an estimated population of roughly 8 398 748 citizens. The city is known for the simple steps to purchase Bitcoin.
On this page you’ll find one of the most popular ways to get Bitcoin in New York City.
Most Popular Ways To Buy Bitcoin In New York City
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In New York City you can find around 499 Bitcoin ATM’s available. See the locations for them at Coin ATM Radar.
Unsure about how to account for your capital gains taxes on your Bitcoin purchase? Don’t worry, we’ve got you covered.
Capital gains are taxes that are levied by the government ONLY IF you make a profit when you SELL your Bitcoin (you don’t pay any capital gains taxens when you BUY Bitcoin).
You also need to know that there are 2 types of capital gains tax, depending on how long you’ve held your Bitcoins, namely:
- Short Term: If you’ve held your Bitcoin for less than 12 months, its classified as “Short Term Capital Gains”. Let’s say you bought Bitcoin for \$1,000 and sold it for \$1,500 3 months later. This $500 of profit will then be taxed at the same % rate as the rest of your ordinary income (at both the State and Federal Level). For 2023 ordinary income tax rates see here.
- Long Term: If you’ve held your Bitcoin for more than 12 months, it’s classified as “Long Term Capital Gains”. Let’s say you bought Bitcoin for $1,000 and solt it for $1,500 17 months later. This $500 of profit will then be taxed at the Federal Level at either 0%, 15% or 20% depending on your income. At the State Level, the long term capital gains tax vary substantially (see here for a full list).
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How To Buy Bitcoin In New York City
If you want to buy Bitcoin in New York City fast, there are a few steps you can take to get started. This guide will walk you through the process of buying Bitcoin from the River.com.
Following these steps will ensure that you can purchase Bitcoin quickly and safely.Follow our fast instructions to get your Bitcoin privately and hassle-free:
- Create an account on the River.com’s site: To buy Bitcoin on River.com you have to to create a verified user account. Go to to their registration link. Enter the essential details and create a private password to complete the account setup process.
- Verify your ID: In order to comply with anti-money laundering (AML) laws, you will need to verify your identity before purchasing Bitcoin. To start, click on the link that are sent to you by SMS. You will need to upload a valid driver’s license or passport and photo ID.
- Select how much Bitcoin you would like to obtain: As soon as your id has been green marked, you can select how much Bitcoin you want to obtain. Enter the amount in USD on the River.com’s homepage and click “Buy Now”.
- Complete the purchase: On the checkout page, you will be able to review all of the details of your purchase. If everything looks correct, click “buy now” and you will receive an email confirming your purchase. Your Bitcoin will be visible to your wallet after a short while.
Congratulations, you have now got your Bitcoin in New York City!
Now that you are an expert in buying Bitcoin in New York City easily, you can start using Bitcoin directly.
About River Bitcoin
Description:
[mpg_spintax project_id=”3″ block_id=”446″]River.com is a {full service|all-in-one} Bitcoin {app|application} that allows everyone from newbies to {high net worth individuals|serious investors} the {ability|opportunity} to {custody|hold|take care of} their Bitcoin with a {regulated|licensed|legal} custody {provider|service}.[/mpg_spintax]
[mpg_spintax project_id=”3″ block_id=”939″]{Benefits|Pros}:
Convenience, Trust, Regulatory Clarity
{Drawbacks|Cons}:
Lacks {Bitcoin lending|lending of Bitcoin}
{Trust Score|Score}:
9/10
{HQ|Headquarter}:
USA[/mpg_spintax]
Buy Bitcoin In Other American Cities
Below, you will find a whole list of cities in America where you can purchase Bitcoin. Whether you intend to buy and sell or HODL, you can be sure that you will have a lot of plenty of options here. With this list, you will always be able to find the perfect place to obtain, store and utilize your Bitcoin.
Tax Regulation For Buying Bitcoin
According to the Internal Revenue Service (IRS), all capital gains from buying and exchanging Bitcoins are taxable. People who live in New York City should do the math for their capital gains precise as taxes have to to be paid on the financial gains made from Bitcoin exchanging.
Additionally, it is important to look up local and state laws to ensure that all taxes and other legal requirements are met.