Thanks for the explanation. I'll have another look into Coinbase, but it might work differently in the UK - crypto withdrawals and conversions, as well as buying goods and services with crypto, are subject to Capital Gains tax. Do you use the Coinbase exchange as well as the wallet?
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Yes. The exchange does the work. The wallet holds my cryptos on chain.
The capital gains tax is a certainty. The expectation of the Bitcoin Standard is that you will have to pay capital gains, but it also means you are escaping inflation, which is the hidden tax.
Thanks for the additional info.