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Crypto is a blessing in so many ways. however The government always finds a way to get their hands in the pot. At least this pot is so big that they can't rob us blind this time around. The possibility to obtain high gains is very likely when getting involved with cryptocurrency. With financial gain comes taxation, at least in the united states. Every country has different laws, some countries are still yet to put laws into place. IF you are from outside the United states, i suggest you do your own research. Otherwise, the below information will be of use. There are methods to possibly avoid taxation, however if not done carefully your every crypto move is stored for everyone to see on the blockchain forever. 

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There are a lot of questions and misinformation circulating in our community about crypto & taxes. This is a great attempt to clarify some important points. I hope you find it helpful.

CoinTracking.info is your personal Profit / Loss Portfolio Monitor and Tax Tracker for all Digital CoinsAll Coins, all Analyzes, all Calculations, all Charts and all Prices for Bitcoin, Litecoin, Ethereum, Ripple, DogeCoin and over 5000 other Currencies. The number 1 for Tracking, Evaluating and Calculating your trades. From people who love Cryptocoins and Analyzes, for traders like you! CoinTracking analyze all your trades and generates in real time tons of useful information such as the profit / loss of your trades, the value of your coins, balances, realized and unrealized gains, reports for tax declaration, and much more.  With the current and historical prices for all 5113 existing currencies, you will get the complete overview.

CoinTracking.info is your personal Profit / Loss Portfolio Monitor and Tax Tracker for all Digital CoinsAll Coins, all Analyzes, all Calculations, all Charts and all Prices for Bitcoin, Litecoin, Ethereum, Ripple, DogeCoin and over 5000 other Currencies.
The number 1 for Tracking, Evaluating and Calculating your trades. From people who love Cryptocoins and Analyzes, for traders like you!

CoinTracking analyze all your trades and generates in real time tons of useful information such as the profit / loss of your trades,
the value of your coins, balances, realized and unrealized gains, reports for tax declaration, and much more. 

With the current and historical prices for all 5113 existing currencies, you will get the complete overview.