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New traders often focus on entries and exits, but the real shock comes at tax time. Profits from spot trades are usually capital gains; staking, airdrops, or referral rewards can be treated as ordinary income when received. Keep meticulous records&mdash;date, asset, amount, fiat value, and fees&mdash;so you can calculate cost basis later. Mid-year is a good moment to review estimated payments and harvest losses to offset gains. A conciseTrading and taxes guide helps you decide on FIFO vs. specific identification and avoid rookie mistakes like forgetting network fees. Bottom line: plan taxes like you plan trades, not after the fact.</span>