Cryptocurrency Q&A
What is the tax on bonk coins?
What is the tax on bonk coins?
Davide
Mon Nov 25 2024
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5 answers
852
I am trying to understand the tax implications of bonk coins. I want to know what kind of tax applies to these coins and how it is calculated. Is it similar to capital gains tax or is there a special tax for cryptocurrencies?
5 answers
ethan_thompson_psychologist
Wed Nov 27 2024
A token tax of 5% is imposed on all buy and sell transactions.
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Starlight
Wed Nov 27 2024
This tax is not retained by the exchange or any intermediary but is instead redirected to the holders of the tokens.
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SolitudeNebula
Wed Nov 27 2024
The purpose of this mechanism is to incentivize holding and reduce the circulation of tokens in the market.
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amelia_miller_designer
Wed Nov 27 2024
Additionally, a 1% token tax is applied specifically to buy transactions.
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Eleonora
Tue Nov 26 2024
This tax has a unique feature: it buys and burns BONK tokens from the market.
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