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Cryptocurrency Taxation in Ireland

  • 14-05-2021 9:05pm
    Registered Users Posts: 2 jimmyjoe98
    Registered User

    Hi all,
    Recently considering dabbling in cryptocurrency but in a bit of a quandary and hoping you might be able to help!

    Long story short, I have two questions:
    1. I'm on Jobseeker's Allowance. Will that in any way have an impact on my engaging in purchasing (and hopefully profiting from) crypto?
    2. As far as I know, tax allowance is €1650. Does that mean that if I make a profit above that, I need to make a tax report, or does it mean that I need to report it regardless, but just won't pay any tax below that rate? Considering that I'm on Jobseekers, will filing taxes affect that?

    Would love advice from anyone in a similar situation or who knows the craic.

    Thanks a lot.