how do you cancel a bitcoin purchase when you didnt mean to buyit?

[mzlaineybug]

how do j cancel bitcoin transaction

[trna · Accepted solution]

I have bought and sold crypto on other platforms, and from my experience, you can't cancel a transaction.  You can however sell the crypto back for USD (or whatever original currency you bought it in).  Just click on the "Sell" button next to your BTC listing.  As with all commodity sales, this is a potentially taxable event, meaning you may have to report the gain or loss (which will be very small) to your tax authority.  Paypal will provide tax reports at the beginning of next year to help you with filing, according to my reading of the FAQ.  But you should of course consult a tax professional.

You can also hold the crypto indefinitely, or transfer it.  This does not require reporting.