Cryptocurrency investment in self-custody requires care and specialized accounting.

Crypto asset investors are already aware that the asset's taxation underwent changes in 2024, such as the elimination of the exemption for sales up to R$ 35,000 monthly (capital gains). However, many prefer to keep their investments in self-custody, which can be advantageous in some aspects but dangerous in others. The issue of tax control is precisely where problems may arise, potentially leading the investor to losses. Luis Fernando Cabral, an accountant specializing in investments and partner at Contador do Trader, explains that correct taxation can help maximize profits.

“Those who enjoy investing in crypto assets are seeking to multiply their profits and achieve above-market returns. To make this happen, many investors prefer to handle everything themselves, from the applications to the accounting. While this helps investors have greater control over their investments, on the other hand, the exact opposite can occur, meaning they could lose their initial investment and overlook some detail in the accounting,” states the expert.

Firstly, by keeping crypto assets in self-custody, one runs the risk of losing passwords and access keys, compromising data storage. Experts on the subject recommend creating a backup and writing down passwords on paper, in the most traditional style. However, potential issues are not limited solely to accessing the cryptocurrencies but also extend to taxation. “Declaring crypto assets as property in Income Tax returns and paying the due tax is mandatory; however, deadlines can be missed if the self-custody investor is unaware of the details for each type of investment,” emphasizes Luis Fernando.

According to the expert, the end of the year is an excellent opportunity for crypto asset investors to put everything on paper and calculate all gains and losses incurred throughout the year, in order to start the new fiscal year up-to-date with their investment information. “And this is the caveat for those who invest using self-custody: the risk of missing some information or a deadline. After all, a specialized accounting firm focused on this subject will have kept this information since the beginning of the year,” explains the accountant.