Phoenix coordinations is 33.4484° N 112.0740° W and has an estimated population of roughly 1 660 272 people. The city is known for the simple ways to acquire Bitcoin.
Below you’ll find one of the most popular ways to secure Bitcoin in Phoenix.
Most Popular Ways To Buy Bitcoin In Phoenix
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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 Phoenix
If you want to buy Bitcoin in Phoenix fast, there are several steps you can take to get started. The following instructions will show you the process of buying Bitcoin from the River.com.
Following these steps will ensure that you can purchase Bitcoin quickly and safely.Follow our easy instructions to buy your Bitcoin privately and without any problems:
- Create an account on the River.com’s site: To buy Bitcoin on River.com you have to to register a verified account for buyers. Go to to their registration link. Fill in the required information and create a strong password to finish the account setup process.
- Verify your ID: In order to comply with anti-money laundering (AML) laws, you have to proof your identity to start obtaining Bitcoin. To do this, click on the link that are sent to your phone by message. You will need to upload a valid driver’s license or passport and photo ID.
- Select the amount of Bitcoin you want to purchase: Once your id has been verified, you can select the amount of Bitcoin you want to purchase. 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 added to your wallet after a short while.
Congratulations, you have now bought your Bitcoin in Phoenix!
Now that you are an expert in buying Bitcoin in Phoenix quick, you can start using Bitcoin confidently.
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 multiple cities in the United States where you can purchase Bitcoin. Whether you intend to buy and sell or store your coins, 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 purchase, 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 Phoenix should do the math for their capital gains precise as taxes will need to be paid on the profits made from Bitcoin trading.
It’s also very important to understand the local and state laws to not risk that all taxes and other legal requirements are met.