In the U.S., cryptocurrencies are taxed as property. The exact rates depend on how long you’ve held onto your crypto—if it's one year or less, profit is considered income, but if it's over a year, your profits are considered capital gains. Capital gains tax—which ranges from 0% to 20% depending on your tax bracket—is only due when you’ve sold your crypto and realized your gains. Income tax, on the other hand, is due when you’ve been paid in crypto, including compensation, incentives, airdrops, mining and staking rewards. Officially, the IRS has not formally designated whether NFT sales should be taxed at the capital gains or collectibles tax rate. But as a rule of thumb, NFT sales are subject to capital gains tax.