# Cryptocurrency question **URL:** \ **Category:** Discussion & Solutions\ **Tags:** solved\ **Created:** [January 8, 2021, 1:44pm UTC](https://onehack.st/t/cryptocurrency-question/168976 "2021-01-08T13:44:52Z")\ **Posts on this page:** 5\ **Page:** 1
**Author:** ![Havion-OL](https://onehack.st/user_avatar/onehack.st/havion-ol/32/81213_2.png) [@Havion-OL](https://onehack.st/u/Havion-OL)\ **Post date:** [January 8, 2021, 1:44pm UTC](https://onehack.st/t/cryptocurrency-question/168976/1 "2021-01-08T13:44:52Z")
Hi guys, the regulations and taxation in my country regarding cryptocurrencies are very obscure, and unclear, and they leave a lot of questions unanswered. So, for this reason, I want to ask you about this: Basically, if I go to an exchange ( Binance ) and buy several BNB tokens with FIAT, and then exchange those BNB tokens for some other tokens like EGLD or ADA or whatever, on the spot market ( basically exchange one currency for another market ), is that considered a transaction? Like, a transaction taxable in your country? I ask this because you don’t actually get something that has a real value, you get another crypto in return, you’re not exchanging that token for money. I am curious about the regulations your countries have on this. I am aware that the regulations in your country may be different from those in mine, but they are valuable and provide insight on this matter. I also asked this questions in some other groups here, but even regular investors in crypto didn’t know the answer. ---
**Author:** ![Karan\_Kumar](https://onehack.st/user_avatar/onehack.st/karan_kumar/32/43353_2.png) [@Karan\_Kumar](https://onehack.st/u/Karan_Kumar)\ **Post date:** [January 8, 2021, 3:08pm UTC](https://onehack.st/t/cryptocurrency-question/168976/2 "2021-01-08T15:08:31Z")
If you have **cryptocurrency tokens** anywhere, such as an exchange or private wallet, it is not taxable until you convert it to USD/FIAT and after **transferring USD/FIAT to the bank** then the withdrawal amount is **taxed** according to the law of your country. ---
**Author:** ![Havion-OL](https://onehack.st/user_avatar/onehack.st/havion-ol/32/81213_2.png) [@Havion-OL](https://onehack.st/u/Havion-OL)\ **Post date:** [January 8, 2021, 3:37pm UTC](https://onehack.st/t/cryptocurrency-question/168976/3 "2021-01-08T15:37:13Z")
Thank you very much, this is exactly what I was looking for. ---
**Author:** ![Aikon](https://onehack.st/user_avatar/onehack.st/aikon/32/26065_2.png) [@Aikon](https://onehack.st/u/Aikon)\ **Post date:** [January 8, 2021, 5:26pm UTC](https://onehack.st/t/cryptocurrency-question/168976/4 "2021-01-08T17:26:03Z")
@Havion-OL Can’t you apply for Binance VISA and use that? No need to actually convert to FIAT and fill up the pockets of the financial predators. ---
**Author:** ![Havion-OL](https://onehack.st/user_avatar/onehack.st/havion-ol/32/81213_2.png) [@Havion-OL](https://onehack.st/u/Havion-OL)\ **Post date:** [January 8, 2021, 5:31pm UTC](https://onehack.st/t/cryptocurrency-question/168976/5 "2021-01-08T17:31:31Z")
I will look into that, thanks for the suggestion.