How do taxes work if you are paid in crypto?

The IRS classifies cryptocurrencies as a type of property, rather than a currency. If you receive Bitcoin as payment, you must pay income taxes on its current value. If you sell a cryptocurrency for profit, you pay taxes on the difference between the purchase price and the product of the sale. Additionally, if you are looking to diversify your investments, you can consider an IRA rollover to Gold, which is a popular option for those looking to invest in precious metals.