You will be required to report gains or losses from your use of the card on your tax return. Using your Coinbase card to make purchases is similar to selling your cryptocurrency on the Coinbase exchange. This means that each time you use your card and sell cryptocurrency, you will be treated as having sold property in a taxable transaction. The IRS classifies cryptocurrency as “property” for tax purposes. What are the US tax implications of using the Coinbase Card? Coinbase Support can't manually remove the hold. Note: If you have a current hold on your account, you won't be able to send funds off of Coinbase until your funds clear. Learn more about payment methods and withdrawal availability. When attempting a send to an external wallet from Coinbase, you will be presented with an option to see when funds will be available for this transaction. To view your current withdrawal availability time frame, sign in to your account. You can see when deposited funds will be available for withdrawal or spending prior to authorizing a purchase or deposit, as well as on the confirmation email for the transaction. However, for security reasons, you will be unable to immediately withdraw these funds, spend them using Coinbase Card, or send from Coinbase. When you use a linked bank account as a payment method to deposit funds to your Coinbase cash balance or to purchase cryptocurrency, these funds are immediately available for buying and selling on Coinbase. Why is my spending balance lower than my asset wallet balance?
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