How to Cash Out Crypto in Ireland Without Paying Taxes

Understanding how to cash out crypto in Ireland without paying taxes or with lower tax obligations is important. As it stands, cryptocurrency profits are subject to capital gains tax (CGT), and it’s currently levied at a rate of 33%, under Ireland’s tax policy.

In today’s ever-growing digital age, government intervention in the crypto space has caused many people not to participate in blockchain transactions because individuals want seamless transactions without any legal requirement by the government. It’s critical to understand that it is not only feasible but also essential to convert cryptocurrencies into cash without the interference of external parties like the government. Come along on this insightful adventure with me as we learn how to make your way through the Irish crypto industry and convert your digital assets into fiat money without paying taxes.


Legal Ways to Reduce Taxes

Make Use of the Capital Gains Tax Exemption

In Ireland, capital gains up to €1,270 are free from capital gains tax (CGT). This gives smaller crypto investors a tiny buffer. Not only are gains from crypto transactions free from this tax; but it also applies to all capital gains realized by an individual during a certain tax year. A person’s total capital gains, including those from the sale of stocks or real estate, may be excluded from tax up to €1,270 if they have any further capital gains. As a crypto holder seeking how to cash out crypto in Ireland without paying taxes, you can leverage this exemption.


Offset Income with Losses

Generally, capital gains in the same or a later tax year can be offset by losses on the sale of cryptocurrencies. This may lessen the overall tax liability. Investors can determine their net capital gains or losses by closely monitoring the prices at which they bought and sold their cryptocurrency holdings. They can then utilize any losses to reduce their taxable gain. Those who have seen volatility in their cryptocurrency portfolios may find this very helpful.


Make Contributions to a Pension

Individuals can lessen their taxable income and, consequently, their income tax burden on any gains related to cryptocurrencies by making contributions to a qualifying pension scheme. A person might save €990 in taxes if they contributed €3,000 to a pension, for instance, and their taxable profits would have only been €7,000 instead of €10,000, which would have been subject to the 33% CGT rate. For investors who would otherwise be exposed to the higher CGT tax and have substantial cryptocurrency gains, this technique may be advantageous and help them avoid paying taxes in Ireland on the €3000 due to the contribution made to an authorized pension body.


Apply the “Bed and Breakfast” Principle

Investors are permitted to sell cryptocurrency and then buy it back right away, realizing a loss of capital that can be applied to future gains. Investors who have suffered losses on their crypto holdings and wish to crystallize those losses for tax purposes may find this technique especially helpful. Through the realization of losses, investors can lower their overall tax liability by using the losses to offset any capital gains in the future.


Take Crypto Mining as a Trade

Should a person’s crypto mining operations be classified as a trade, any gains would be liable to income tax instead of the higher 33% CGT rate. If the person’s marginal income tax rate is less than the CGT rate, this may be advantageous. Revenue, the Irish tax body, will evaluate each case’s unique facts to decide if the person’s crypto mining operations qualify as a trade.


Utilize Crypto Taxation Software

Investors may ensure they pay the right amount of tax and take benefit of all possible exemptions and reductions by accurately calculating their gains and losses with the use of sophisticated crypto tax software. The process of recording transactions, correlating transfers, and preparing the required tax forms may be automated with tools like CoinLedger and Koinly, which makes it simpler for investors to adhere to Ireland’s digital currency tax regulations.

When cashing out your crypto assets, Irish cryptocurrency investors may be able to lower their overall tax liability by utilizing these options. It’s crucial to remember that each person’s unique situation may determine the precise tax implications and eligibility for these strategies, so it’s always a good idea to conduct in-depth independent research and consult a tax expert.



Services that Offer the Conversion of Crypto to Cash

Many crypto exchanges can be used in the conversion of cryptocurrency to cash, below are the outstanding ones among them:


One of the best platforms for exchanging crypto for fiat money is PlasBit. It helps people get out of the traditional financial system and be in charge of their own money without the government being able to mess with the money they worked hard to save, which also provides customers with a simple and safe option to convert their digital assets into fiat money. PlasBit supports cryptocurrencies like Bitcoin, Ethereum, Litecoin, and others. Customers have easy access to their web platform and mobile app, which they can use to start transactions. It is a reliable option for turning cryptocurrency into cash since it guarantees transparency and adherence to laws.


In supporting your financial independence, PlasBit is a cutting-edge cryptocurrency exchange that puts your security and privacy first. It provides a frictionless experience by empowering users and embracing decentralization, guaranteeing that you always have control over your finances. For those in Ireland looking to achieve financial independence, this platform is highly recommended due to its user-friendly design and strong security features. Every customer should pay their taxes, as PlasBit is not going to be accountable for any tax-related actions that the customers may undertake.



An established cryptocurrency exchange on the market, Bitstamp is renowned for its dependability and liquidity. Individuals can use Bitstamp’s marketplace to convert their cryptocurrency holdings into fiat money. This gives users freedom when cashing out their cryptocurrency holdings by supporting a variety of fiat currencies and offering withdrawal options like bank transfers and SEPA transfers.



Coinbase well-known cryptocurrency exchange that lets users purchase, sell, and swap virtual currencies for fiat money like USD, EUR, and GBP. To withdraw money, users can use additional payment options or link their bank accounts. To protect consumers’ money, the Coinbase interface is very friendly for users’ experience along with several security features.



Binance is one of the biggest cryptocurrency exchanges in the world, which provides a huge selection of digital assets for trading. Users can use Binance’s fiat-to-crypto gateway to exchange their cryptocurrency holdings into fiat money. In addition to offering alternatives for bank transfers and other payment methods for cash withdrawals, It accepts several fiat currencies.



Kraken is a trustworthy cryptocurrency exchange with a large assortment of digital assets and strong security measures. With Kraken’s platform, users may exchange their cryptocurrency holdings for fiat currencies like USD, EUR, CAD, and so on. Bank transfers are among the various withdrawal options that Kraken provides, making it easy for customers to cash out crypto assets.



Gemini is an authorized cryptocurrency trading platform where customers may swap their digital currencies for fiat money such as USD, EUR, GBP, and so forth. Gemini provides a safe environment allowing crypto-to-cash transfers by guaranteeing compliance with laws and offering an intuitive interface. Through bank transfers or other accepted payment options, users can withdraw money.



A peer-to-peer platform called LocalBitcoins links Crypto buyers and sellers. Users can directly exchange their digital currencies for fiat money with anyone locally or globally. To guarantee security, LocalBitcoins offers escrow services. It also makes a variety of payment options for cash transactions possible, such as transfers from banks, deposits of cash, and digital payment platforms.



Coinmama is a digital currency trading platform where users may purchase and sell digital currencies such as Ethereum and Bitcoin. Through the website, users can exchange their cryptocurrency holdings for fiat money and withdraw the proceeds to their bank accounts or other accepted payment methods. Both novice and seasoned traders can benefit from Coinmama’s simple method for turning cryptocurrency into cash.


PlasBit is a unique cryptocurrency exchange that places a high value on its users’ security and privacy. In contrast to traditional exchanges, PlasBit is committed to enabling people to handle their own money independently of governments and other third parties. It places a high priority on privacy, ensuring that user information and transactions are secure and kept private. The platform offers a platform that allows users to exchange their cryptocurrencies for cash while maintaining their independence, satisfying the needs of those who want more control over their money. PlasBit provides customers with a secure environment to conduct crypto-to-cash transactions without worrying about security or privacy.


You might be wondering if there are ways to go about cashing your crypto without taxes. Let us take a look at the different ways below.


How to Cash Out Crypto Without Taxes

Digital ATMs

Easy Access at the Tipping Point Crypto ATMs have become a popular way to quickly Exchange Cryptocurrencies for Cash. It’s now easier than ever to access your digital assets thanks to the growing number of ATMs in Ireland. With the help of these machines, you can quickly sell your cryptocurrency holdings and withdraw fiat money without having to go through lengthy verification procedures. Although some ATMs might charge for their services, cryptocurrency aficionados seeking tax-free conversion methods frequently choose them because of their simplicity and privacy.


Direct and Decentralized Peer-to-Peer (P2P) Platforms

Peer-to-peer networks offer a decentralized marketplace where people may purchase and sell cryptocurrency without going through middlemen. Secure escrow services are provided by some crypto-exchanging platforms, guaranteeing confidence and openness in transactions. This is one of the easiest ways how to cash out crypto in Ireland without paying taxes because the networks allow you to convert cryptocurrencies to cash without interference from the government by easily linking buyers and sellers, with that, avoiding paying taxes is made possible. P2P systems, with user ratings driving the process, provide a dependable way to convert money in Ireland tax-free.


Over-the-counter (OTC) Trading

Looking for how to cash out your crypto, customized responses to your R=requirements Over-the-counter (OTC) trading centers provide individualized solutions for turning huge amounts of cryptocurrencies into cash for financial institutions and high-volume traders. Its desks allow its clients discretion and flexibility by functioning outside the regular exchanges. OTC trading offers competitive pricing and low slippage, meeting the specific requirements of affluent investors looking for tax-efficient conversion strategies in Ireland. OTC trading makes sure that those navigating the cryptocurrency market have a smooth experience, with committed account managers leading the way.


Vouchers and Gift Cards

Getting value-worth gift cards is an additional way to exchange cryptocurrency for real products or services is through gift card exchanges. You can use your digital assets to buy popular retailer gift cards with Bitrefill and other platforms. Gift cards provide a flexible way to obtain cash equivalents without paying taxes, be it for groceries or electronics. Although there could be costs associated with purchasing gift cards, their ease of use and adaptability make them a strong choice on how to cash out crypto in Ireland without paying taxes.


Cryptocurrency Taxation Policies in Ireland

Every user who needs knowledge on how to cash out crypto in Ireland without paying taxes must know the related tax policies that surround cryptocurrency. Regarding cryptocurrency taxation, Ireland has adopted a comparatively progressive stance, considering cryptocurrencies as assets instead of legal cash. This indicates that several tax systems, such as income tax, capital gains tax, and in certain situations, corporation tax, apply to the taxation of crypto assets such as Bitcoin, Ethereum, Dogecoin, and so on in Ireland.


Capital Gain Tax (CGT)

Any profits made from the sale or disposition of cryptocurrencies by persons who reside in Ireland are typically liable taxable rate of 33%, which is capital gains tax. This covers trading one crypto for another, selling cryptocurrencies, and using cryptocurrencies to pay for products and services.

The difference between the cryptocurrency’s purchase price (cost base) and sale price is used to calculate the capital gain. Investors can lower their overall tax bill by offsetting any losses on the sale of cryptocurrency against their capital gains.


The fact that capital gains up to €1,270 are free from capital gains tax (CGT) is a significant benefit that protects smaller crypto investors.


Income Tax

Any profits from cryptocurrency trading activities carried out by those living in Ireland are subject to income tax at the individual’s marginal rate, which may be as high as 55% (inclusive of the Universal Social Charge and Pay-Related Social Insurance).

This situation can occur if the person is aggressively purchasing and selling cryptocurrency frequently to turn a profit. Revenue, the Irish tax office, will evaluate each case’s unique facts to decide if the person’s cryptocurrency-related actions qualify as a trade. When disclosing annual tax return, this type of income must be referred to as “employment income”

Any cryptocurrency sales proceeds for businesses with Irish residents would normally be liable to corporation tax. Profits would be subject to taxation at the ordinary corporation tax rate of 12.5% if the activity is deemed to be a trade. Nevertheless, the proceeds would be liable to the higher corporation tax rate of 33% if the action is regarded as a capital gain.


Other Related Taxes on Cryptocurrency in Ireland

Although income tax and capital gain tax are the main taxes that apply to cryptocurrencies in Ireland, Irish cryptocurrency owners should also be aware of the following additional taxes:

Stamp Duty
In Ireland, stamp duty is typically not applied to cryptocurrency purchases. This is because stamp duty is normally applied to the electronic transfer of ownership of specific assets, while cryptocurrency purchases are almost always made electronically without a physical transfer of ownership.


Value-Added Tax (VAT)
In Ireland, value-added tax (VAT) is not applied to cryptocurrency purchases, much like stamp duty is not. This is compliant with directives from the European Union Court of Justice, which decided that cryptocurrency exchanges should be free from value-added tax (VAT).


Mining Cryptocurrencies
Income from mining projects on crypto asset operations is not fully clear in Ireland in terms of tax treatment. The common consensus is that, depending on whether mining is regarded as a form of investment or a trade, this revenue may be liable to a corporate tax or income tax.

If cryptocurrency mining is recognized as a trade, any gains would be at 12.5% of corporation tax for firms based in Ireland, or income tax at the individual’s marginal rate.

In addition, any profits could be subject to capital gains tax at the standard 33% CGT rate if the mining operation is viewed more as an investment.


Capital Acquisition Tax (CAT)
Cryptocurrency gifts and inheritances in Ireland can be liable to Capital Acquisitions Tax (CAT)134. The recipient of the gift or inheritance is subject to CAT, which has a maximum 33% tax rate.

For CAT purposes, the cryptocurrency’s valuation can be complicated because it depends on several variables, including the kind of cryptocurrency, the date of the gift or inheritance, and the market price at the moment.


Reporting and Compliance

All cryptocurrency-related income and capital gains must be reported by Irish citizens on their yearly tax returns. Giving specifics like the dates of the buy and sale, the prices of the buy and sale, and the total gain or loss are all part of this.

Exchanges that deal in cryptocurrencies must register as Virtual Asset Service Providers (VASPs) and abide by laws against money laundering in Ireland. On request, these exchangers might have to give the Irish tax authorities and revenue, details on their customers’ transactions.

Revenue is keeping a close eye on crypto transactions and can find any unreported gains or revenue by using data-matching tools. Inaccurate tax reporting and payment on cryptocurrency-related activity may lead to fines and even criminal prosecution.

It’s crucial to keep in mind that tax rules and regulations are subject to change, and the exact tactics that are most effective for you will rely on your unique financial circumstances. Always seek advice from a knowledgeable tax expert to be sure you’re abiding by all relevant rules and laws.


Crypto-to-Crypto Transactions and Capital Gains Tax

The capital gains tax (CGT) is levied in Ireland on cryptocurrency trading platforms as well as sales of cryptocurrencies for fiat money. This implies that you will be liable for capital gains tax (CGT) on any profits you make from trading, say, Bitcoin for Ethereum.

You must manually keep track of all of your cryptocurrency transactions and the values associated with them at the time of each exchange to accurately calculate your CGT. Documenting your transaction history will require you to consult blockchain records, which can be a laborious and time-consuming task.

Many Irish cryptocurrency investors utilize Koinly, or cryptocurrency tax software, to streamline this process. Koinly gathers and organizes your cryptocurrency transactions from several wallets and exchanges automatically. After calculating your capital gains and losses, it produces an extensive tax report that you may use to file your taxes electronically or give to your accountant.
You may save a ton of time and make sure you are correctly reporting to the Irish Revenue Commissioners your financial gains and losses related to cryptocurrencies by using a service like Koinly.


Important Disclaimer

It is important to note before continuing that the information contained herein is intended solely for general educational purposes. Cryptocurrency taxation can be complicated and varies based on certain situations. You must speak with a licensed tax expert who can counsel you on the particular tax ramifications that apply to your particular circumstances.
Inadequate tax reporting and payment on gains and income connected to cryptocurrencies can have major repercussions, including fines, interest, and possibly even legal action. Each taxpayer must comprehend and abide by any relevant tax rules and regulations.

The information provided here is not meant to provide expert tax advice; rather, it is meant to offer a high-level understanding of possible ways to cash out your crypto in Ireland by reducing your taxes legally. Always make sure to do your due diligence and properly declare any cryptocurrency-related activity in compliance with Irish tax regulations.



In Ireland, taxes on cryptocurrency ownership and transactions cannot be totally avoided, but there are legal tactics that can lower your overall tax burden. It is important to realize, nevertheless, that the precise tax ramifications can differ significantly based on your unique situation.

The most important thing to remember is that it is your duty as the taxpayer to fully investigate and comprehend the tax laws and rules about cryptocurrencies in Ireland. It is insufficient to rely only on the data here or any other broad resource. You should speak with an experienced tax expert who can guide you toward the best course of action for minimizing your crypto-related taxes given your particular financial circumstances.

As you are aware of how to cash out crypto in Ireland without paying taxes, you should know that inaccurate disclosing and failing to pay the taxes due on your crypto activity might have detrimental effects, including fines, interest, and possibly even legal action. It’s getting harder to evade compliance as the Irish government steps up its attempts to improve monitoring and transparency of the crypto sector.

To make sure you are fulfilling all of your tax duties legally, you must take the opportunity to educate yourself, keep detailed records of your transactions, and consult with a tax professional frequently. While there might be ways to lessen your crypto tax liability, meeting your tax obligations should always come first.

By BitcoinsInIreland Editorial Team

A staff writer at who covers a range of topics on the site.