Hello,
I am planning to open a bank account in the US from abroad. I would like to know if the following process is considered taxable by the US tax system or not:
- I Buy 1 ETH for 1.000 E$ (Let's assume $E is the currency in my country) when the market price of it in USD is 3.000USD at that time.
- I sell 1ETH for 3.000 USD.
- I transfer 3.000 USD from selling this asset to my US bank account.
Will I have to pay any taxes even though I didn't make any gains? (basically, I am just using crypto to transfer money from one country to another timely and cheap).
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