Get help reporting chainlink on your taxes

We’re with you all the way when you’re trading chainlink and other cryptocurrencies - including when the time comes for the annual tax report to Skat. Remember, all crypto trading involves great risks.

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MAKE YOUR TAX REPORT TO SKAT EASY WITH LUNAR BLOCK

You need to report your crypto-trades, including chainlink, to Skat every year.

When it’s time to report, we’ll send you a simple guide that will tell you how to report your crypto-trades step-by-step. We’ll also send you an overview of any crypto-trades you’ve made in the past year with the guide.

You need to be aware that you yourself are responsible for correctly reporting your taxes to Skat. You can find further information about that on Skat’s website.

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CHAINLINK: PERSONAL INCOME IN CASE OF GAINS - DEDUCTIBLE EXPENSE IN CASE OF LOSSES

When you earn money by selling cryptocurrency, you need to pay taxes on gains. The tax rate is the same as you would pay for personal income - so 37-52% depending on your tax bracket.

Due to the current taxation laws for chainlink and other cryptocurrencies, you cannot deduct losses from any gains, when you lose money on selling cryptocurrency. Here, you will get a deductible expense, corresponding to a tax value of about 25%. 

This means that you will be taxed with 37-52% in case of any gains, while you will get 25% in deductible expenses in case of any losses. If you were to earn 1,000 on chainlink, and you pay 37% in taxes, you would have to pay 370 DKK in taxes. And if you’ve lost 1,000 DKK on chainlink in the same year, you would “get” 250 DKK back.

An overall result of -120 DKK, even if you’ve technically broken even. This is called asynchronous taxation, which you can read more about here .

REPORT YOUR TAXES CORRECTLY

A lot of people have a hard time understanding the current taxation laws regarding cryptocurrencies. A whopping 67% of Danes do not report their gains and losses on cryptocurrency correctly, a study from the Danish Tax Agency shows.

Reporting taxes seems to be a challenge when it comes to cryptocurrency. We want to make crypto as easy as possible so everyone can join in. That’s why we’re sending you an overview over all your crypto-trades every year, along with a guide that explains which boxes to fill out in your annual tax report, so you can correctly report your information to Skat.

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HOW DO I INVEST IN CRYPTOCURRENCY?

Do you want to invest in cryptocurrency - without investing all your time?

Then Lunar Block is the platform for you. Our app is easy to use and you can complete purchases and sales with a few swipes. The prices are transparent and easy to see through - and the platform is Danish with language options in Danish, English and Swedish.

If you’re looking for a user-friendly, transparent and Danish platform to trade cryptocurrency, Lunar Block is the perfect solution for you.

When you sign up to Lunar Block, you need to complete a quiz before you’re able to trade crypto. The quiz is supposed to ensure that you understand the risks connected to trading cryptocurrency.

Once you’ve completed the quiz, you can quickly and easily trade and sell chainlink and other popular cryptocurrencies directly from your phone.

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SET TRADING PRICE WITHOUT UNFAIR FEES

You’re getting set, low trading prices with us. The price depends on your subscription type, and looks like this:

Standard: 2,5% of your purchase and sale

Premium: 1,5% of your purchase and sale

Pro: 1% of your purchase and sale

When you trade via Lunar Block, you’re also avoiding pointless fees such as exchange and deposit fees.

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Your questions - answered

Cryptocurrencies can rise and fall

When you trade cryptocurrencies, you need to be aware that it carries a large risk. The value of your cryptocurrency can both rise and fall, and you can risk losing the entire amount you’ve invested in cryptocurrencies.

Cryptocurrency trading is done through Lunar Block. Lunar Block is not regulated by the Danish Financial Supervisory Authority (Finanstilsynet). That means you won’t have the same protection as when trading e.g. stocks or other regulated assets.

We do not counsel

We do not advise on currencies and do not make recommendations for either buying or selling. We can provide factual information about the different currencies, but past price developments are not an indication of future developments.

No information from Lunar Block should therefore be considered as recommendations and all decisions are up to you alone.