Quick answer
- Selling for euro, swapping tokens and spending crypto are all potential disposals.
- Buying and merely holding usually do not create a gain calculation at that point.
- Moving assets between wallets you own should be evidenced so it is not mistaken for a disposal.
- Rewards, DeFi, NFTs and gifts need fact-specific classification and euro valuations.
On this page
Crypto event map for an Irish individual
| Event | Likely starting point | Record to keep |
|---|---|---|
| Buy crypto with euro | Acquisition, not usually a gain at purchase | Euro cost, fees, date/time and asset quantity |
| Hold crypto | No disposal merely because price changes | Continuing ownership and cost record |
| Transfer between your own wallets | Not normally a change in beneficial ownership | Both addresses, transaction hash and ownership evidence |
| Sell crypto for euro | Potential disposal | Euro proceeds, fees and matched acquisition cost |
| Swap one token for another | Potential disposal of the token given up | Euro value of both sides at the timestamp |
| Spend crypto on goods or services | Potential disposal | Invoice, euro value and crypto amount |
| Receive crypto for work | Potential income/payroll event | Euro value at receipt and contract or payslip |
| Gift or inherit crypto | CGT/CAT questions may arise | Relationship, market value, date and transfer evidence |
Taxable vs usually non-taxable
Selling to euro, swapping tokens, spending crypto, gifting crypto, or disposing of NFTs.
Buying crypto, holding it, or transferring assets between wallets you own.
Selling, swapping and stablecoin conversions
A sale for euro is the clearest disposal. A crypto-to-crypto exchange can also be a disposal because you give up one asset and acquire another. Converting Bitcoin to a stablecoin is not automatically ignored simply because the proceeds stay on the platform or the stablecoin aims to track a currency.
At the swap timestamp, record the euro market value of the asset disposed of, the new asset acquired, both quantities and all fees. That value supports the disposal proceeds and becomes part of the acquisition record for the new asset.
Spending crypto and paying fees in crypto
Revenue’s manual treats using crypto to buy goods or services as a disposal. If an asset bought for €500 is worth €900 when used to buy a laptop, the tax calculation starts from the €900 euro value even though no cash was received.
Fees can create two record questions: whether the fee is an allowable cost of the main transaction, and whether paying the fee with a separate crypto-asset is itself a disposal. Export the gross transaction and itemised fee data rather than relying on the net balance shown afterwards.
Buying, holding and own-wallet transfers
Buying crypto with euro establishes an acquisition cost. Merely holding it while the market price changes does not normally crystallise a gain or loss. A transfer between wallets that you beneficially own does not normally change ownership, but poor records can make it look like a payment to someone else.
Keep the sending and receiving addresses, platform withdrawal record, transaction hash, fees and evidence that both accounts or wallets belong to you. If the network deducts a fee in crypto, record that separately.
Rewards, staking, mining, airdrops, DeFi and NFTs
These labels cover different legal and economic arrangements, so a single answer is unsafe. A reward may be income when received, part of a trade, an acquisition with no immediate charge, or connected with a disposal or service. DeFi deposits can involve transfers of rights, new receipt tokens, loans, liquidity positions or disposals. NFTs can represent different rights and uses.
Record the contract or protocol, what rights were given up, what was received, whether ownership changed, the euro value and how the reward arose. Material or complex cases should be reviewed on their actual terms rather than categorised solely by an app label.
Gifts, inheritances and crypto received as pay
Giving crypto away can be a disposal for the giver, while the recipient may need to consider Capital Acquisitions Tax depending on the relationship, thresholds and circumstances. A transfer between spouses or civil partners can have specific rules, so do not treat every gift identically.
Crypto received as salary, contract payment or business consideration is valued in euro for the relevant income and payroll rules. If the recipient later sells or swaps it, that later event can create a separate capital gain or loss. Link the receipt value to the later acquisition-cost record.
Frequently asked questions
Is buying crypto a taxable event?
Buying with euro normally establishes the acquisition record rather than creating a gain at that moment.
Is holding crypto taxable?
A market value increase while you continue to hold is not normally a disposal, but income-type rewards received while holding may need separate treatment.
Is swapping Bitcoin for Ethereum taxable?
It can be a disposal of Bitcoin. Record the euro value and acquisition details for the Ethereum received.
Is converting to a stablecoin taxable?
A stablecoin conversion can still be a crypto-to-crypto disposal; remaining on the same app does not make it invisible.
Is moving crypto to my hardware wallet taxable?
A transfer between wallets you beneficially own is not normally a change of ownership, but retain evidence and record network fees.
Is spending crypto with a card taxable?
If the card service sells or transfers crypto to fund the purchase, that can be a disposal.
Are airdrops always tax-free?
No universal answer applies. How and why the asset was received and any conditions attached need to be examined.
Do NFTs use different tax rules?
The token label does not decide the result. Acquisition, disposal, income, business use and the rights represented must be examined.
Sources & references
Related calculators
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