One suggestion I’ll make is keep records of all your transactions involving crypto (even crypto-crypto transactions or use of crypto to purchase goods/services). Because of crypto tax rules everything is relevant to tax calculations you might have to do in the future.
Many people have the impression that only transactions between crypto and fiat are tax-relevant, but this is a misconception.
HMRC’s guidance on crypto is absolute garbage to be honest; should only be between fiat/crypto. But oh well.
My firm belief is if you strike big on crypto, wait for a new tax year and don’t go over the 12k capital gains tax for the year that you’re currently in. That way there’s no need to declare anything.
Unless you make it like, big big (millions) then you can just hire an accountancy firm and go sit down with them for a few weeks to make sure you’re compliant. + you’ve probably lost some on crypto to offset too haha
Markets are pretty much stabilised now and in some cases a number of coins have gone back to usual values.
All the sell off panic will more than likely have been those who’ve not got the nerve to weather a small storm. I suspect a fair few people will have sold at a loss.
I treat my investments as just something small scale, which I can’t afford to put it and leave for x amount of time. I don’t need access to the cash for anything, so it’s fine to just sit and see what happens.