Yes, in the United States of America, if you realize gains from trading cryptocurrencies, you have to pay short-term or long-term capital gains taxes on your crypto gains.

The Internal Revenue Service (IRS) considers cryptocurrencies to be “property”, per an April 2014 bulletin.

For USA tax residents, if you sell your cryptocurrency at a gain within one year of buying it, then you will have to pay short-term capital gains tax. These short-term tax rates are typically your regular income tax rate. Hence, if your income is taxed at e.g. 33%, then so, too, will your short-term crypto gains be taxed at that same rate.

For USA tax residents, if you sell your cryptocurrency at a gain after one year of holding it, then you will have to pay long-term capital gains tax at tax rates of 0%, 15% and 20% depending on your tax bracket.

Please consult with a professional tax advisor several weeks ahead of the tax filing deadline as your professional tax advisor may be dealing with cryptocurrency taxation for the very first time.