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Offers may be subject to change without notice. Opinions expressed in this article are the author's alone, not those of a third-party entity, and have not been reviewed, approved, or otherwise endorsed. This article originally appeared on and may contain affiliate links for which Money receives compensation. Get useful tips, expert advice and cute animals in your inbox every week.Ĭoinbase for Beginners: A Complete Guide to Buying and Selling Cryptocurrency on a Popular Exchange Still learning the basics of personal finance? Let us teach you the major money lessons you NEED to know. Experts say you may also want to stick with the more well-known, established cryptos like Bitcoin and Ethereum when getting started, rather than buying random altcoins. Still, if you want to invest in cryptocurrency, financial advisors tend to recommend keeping it to a small percent of your overall investment portfolio - no more than 5%. “Your $100 might not necessarily be $100 by the time it’s cashed in,” Daniel Rodriguez, chief operating officer at Hill Wealth Strategies, told Money for our guide to gifting cryptocurrency. Bitcoin’s price hit an all-time high near $68,000 per coin in November and now sits near $39,000.

Should you get your tax refund in cryptocurrency?Ĭryptocurrency is a risky, volatile asset, which has been proven by its dramatic price swings. Buy and sell your assets commission-free today! Coinbase helps you manage your cryptos with confidence 24/7. Join Coinbase and gain the tools and confidence to start trading cryptocurrencies, stocks and other top markets.

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Coinbase has a full list of instructions in its blog post. dollar, if you want to trade later or spend the money via Coinbase Visa Card - in which you want to get your refund. Then, you’ll select the cryptocurrency - or U.S. Once you’ve filed your tax return, you’ll be asked to enter your account details or set up an account. Coinbase doesn’t charge a fee to create an account or deposit tax refunds into an account, but there are fees for trading cryptocurrency. You do need to have a Coinbase account for this to work.

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(FYI: An estimated 70% of taxpayers are eligible to file taxes for free through an IRS initiative TurboTax no longer participates in.) Coinbase customers can also get a $20 discount when using TurboTax. TurboTax customers who want to receive their refunds in cryptocurrency can file their returns via the company’s Coinbase section of the website.

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How to get your tax refund in cryptocurrency Have you started filing your 2021 Taxes? Select your state to begin the process of filing your taxes with TurboTax. Last year’s average tax refund was $2,815, which could get you about 1/14th of one Bitcoin at its current price. (He picked a particularly bad day to do so, though, as the crypto market tanked soon after.) In January, New York City’s Eric Adams announced that his first paycheck as mayor would be automatically converted to Ethereum and Bitcoin via Coinbase. The news comes as cryptocurrency is making inroads into various aspects of our financial lives, like credit card rewards and paychecks. Users can choose from more than 100 different cryptos, including Bitcoin and Ethereum, according to Coinbase.

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