9 Exchanges to Buy Bitcoin & Crypto in Germany (2020)

Taxes on bitcoins investments after 1 year hold in Germany

Hello all, as many of you might know about the german tax low of holding your bitcoins for at least one year and their capital gain should be tax exempted. My question is: does this include investing these bitcoins after one year or lending them for an interest after holding period will also exempt the interest from being taxed? Or this would on contrary extend the holding period to 10 years considering the bitcoins a source of income!?
Example, I have 1 bitcoin is September 2019 and kept it for on year. In say october 2020 I started to lend it for a monthly interest. Not selling it, just lending for whatsoever activity the loaner is performing on my lended bitcoins and sharing a monthly interest. Then should this profit I am getting be taxed?
Would appreciate sharing your experience on this. Regards.
submitted by mindminer20 to bitcointaxes [link] [comments]

how does taxes work for bitcoin in germany?

Sorry of this is the wrong thread but here is my question, i am currently thinking of starting to investing in bitcoin and maybe ethereum using kraken. I am currently based in germany hessen, and i would like to know if i get lucky and get a good profit and i want to withdraw that profit to my bank is there taxes on that?
https://www.nomoretax.eu/bitcoin-tax-haven-germany/
i read on this article that if i keep my bitcoin for one year and then sell it then i would be exempt from taxes but how would germany know? and does it have to in a crypto currecy or can i convert it to euro or other stable currency and keep it on the exchange for one year to avoid taxes?

the senario for the last question is lets say i got 10k from investing and i want to change it to something more stable and wait the year out
submitted by Mr_Tuffaha to Bitcoin [link] [comments]

Germany Recognizes Bitcoin as Legal Tender, Updates Taxes. Germany’s Ministry of Finance published a guidance report on February 27th stating that they won't be taxing crypto users for using cryptocurrencies as a means of payment.

Germany Recognizes Bitcoin as Legal Tender, Updates Taxes. Germany’s Ministry of Finance published a guidance report on February 27th stating that they won't be taxing crypto users for using cryptocurrencies as a means of payment. submitted by HarveyBirdman3 to btc [link] [comments]

How do taxes on bitcoin or crypto currencies in Germany work?

I want to look into bitcoin but I am afraid that I don't know how taxes for crypto currencies work here in Germany. Anybody can help me?
submitted by Bamganar to BitcoinBeginners [link] [comments]

Germany will not impose tax on users for using Bitcoin as a mode of payment

Germany will not impose tax on users for using Bitcoin as a mode of payment submitted by ev1501 to ethtrader [link] [comments]

Taxes on Bitcoin & Co. in Austria, Germany and Switzerland

Taxes on Bitcoin & Co. in Austria, Germany and Switzerland submitted by wunderwuzzi_ to Blockpit [link] [comments]

For all German speaking crypto traders, look what I found, there is a free guide about taxes on Bitcoin & Co. in Austria, Germany and Switzerland!

For all German speaking crypto traders, look what I found, there is a free guide about taxes on Bitcoin & Co. in Austria, Germany and Switzerland! submitted by SlanySorcha to cryptocurrencynews [link] [comments]

Germany won't tax you for coffee with bitcoin!

Germany won't tax you for coffee with bitcoin! submitted by gcarbide to Bitcoin [link] [comments]

Germany: A Surprising Bitcoin Tax Haven (WOW)

Germany: A Surprising Bitcoin Tax Haven (WOW) submitted by bidglide to Bitcoin [link] [comments]

Germany Recognizes Bitcoin as Legal Tender, Updates Taxes. Germany’s Ministry of Finance published a guidance report on February 27th stating that they won't be taxing crypto users for using cryptocurrencies as a means of payment.

Germany Recognizes Bitcoin as Legal Tender, Updates Taxes. Germany’s Ministry of Finance published a guidance report on February 27th stating that they won't be taxing crypto users for using cryptocurrencies as a means of payment. submitted by rage_prone to CryptoCurrency [link] [comments]

Crypto Regulation News: US Congress schedules Sept 24 hearing with SEC, Germany plans to block private stablecoins, France will not tax crypto-to-crypto transactions, Bakkt exchange’s Bitcoin futures see slow start on first day of trading

Crypto Regulation News: US Congress schedules Sept 24 hearing with SEC, Germany plans to block private stablecoins, France will not tax crypto-to-crypto transactions, Bakkt exchange’s Bitcoin futures see slow start on first day of trading submitted by sasha_sh to Paradigm_fund [link] [comments]

Crypto Regulation News: US Congress schedules Sept 24 hearing with SEC, Germany plans to block private stablecoins, France will not tax crypto-to-crypto transactions, Bakkt exchange’s Bitcoin futures see slow start on first day of trading

submitted by cryptoallbot to cryptoall [link] [comments]

Crypto Regulation News: US Congress schedules Sept 24 hearing with SEC, Germany plans to block private stablecoins, France will not tax crypto-to-crypto transactions, Bakkt exchange’s Bitcoin futures see slow start on first day of trading

Crypto Regulation News: US Congress schedules Sept 24 hearing with SEC, Germany plans to block private stablecoins, France will not tax crypto-to-crypto transactions, Bakkt exchange’s Bitcoin futures see slow start on first day of trading submitted by sasha_sh to Crypto_Currency_News [link] [comments]

Selling bitcoin in the US and Germany, do I file taxes in both countries?

I'm an American citizen with an American registered business that sells bitcoin online, but I live in Germany. I sell bitcoin to American customers but I would like to sell to European customers as well. I have a business bank account in Germany. How do I go about paying taxes in Germany where my American business is earning income? Or do I not have to file taxes in Germany because its an American business? Am I perhaps even not allowed to sell bitcoin in Europe because my business is registered in the US? Thanks any advice is appreciated.
submitted by fuckueatmyass to AskLegal [link] [comments]

Paying bitcoin taxes as American living in Germany

I report my capital gains taxes on all cryptocurrencies to the IRS, but now live in Germany for graduate school. I understand that Germany and the US have tax agreements, but I am not sure if I also need to file these gains in Germany where cyrpto's are treated as a currency. Does anyone know how to report these gains? Thanks!
submitted by user3370 to Bitcoin [link] [comments]

Germany: Bitcoins tax-exempt after one year holding time! (link is in german)

Germany: Bitcoins tax-exempt after one year holding time! (link is in german) submitted by anxiousalpaca to Bitcoin [link] [comments]

Germany Won’t Tax you for Buying Coffee with Bitcoin.

Germany Won’t Tax you for Buying Coffee with Bitcoin. submitted by viraj_15 to CryptoCurrencyTrading [link] [comments]

Germany will not impose tax on users for using Bitcoin as a mode of payment | The Financial Express

Germany will not impose tax on users for using Bitcoin as a mode of payment | The Financial Express submitted by catzzilla to de_crypto [link] [comments]

How exactly to declare taxes on bitcoins in Germany?

Here is my situation: - I am not German but I work there right now - I am domiciled in Germany - have been living there for 7 months this year - I have two wallets, one is investment wallet and another one speculative wallet
Questions: - Can I sell my investment wallet this year and claim tax relief on those bitcoins as they were bought more than a year ago? - Or maybe it is better to wait until 2014 since this will be the year when I was not moving from abroad? - How exactly am I going to prove they were bought year ago? Show trade history from exchange? Show that there were no transfers going into my adress? - Is there any problem if, in the meantime, I was trading on my "speculative" wallet?
thanks in advance!
submitted by bitcoin_air to Bitcoin [link] [comments]

Germany Recognizes Bitcoin as Legal Tender, Updates Taxes. Germany’s Ministry of Finance published a guidance report on February 27th stating that they won't be taxing crypto users for using cryptocurrencies as a means of payment. https://goo.gl/xr1S9h - Crypto Insider Info - Whales's

Posted at: March 5, 2018 at 01:03PM
By:
Germany Recognizes Bitcoin as Legal Tender, Updates Taxes. Germany’s Ministry of Finance published a guidance report on February 27th stating that they won't be taxing crypto users for using cryptocurrencies as a means of payment. https://goo.gl/xr1S9h
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submitted by cryptotradingbot to cryptobots [link] [comments]

Bitcoins are now "legal tender" in germany. It can be used for "tax and trading purposes in the country."

Bitcoins are now submitted by type_your_name_here to Bitcoin [link] [comments]

Putting $400M of Bitcoin on your company balance sheet

Also posted on my blog as usual. Read it there if you can, there are footnotes and inlined plots.
A couple of months ago, MicroStrategy (MSTR) had a spare $400M of cash which it decided to shift to Bitcoin (BTC).
Today we'll discuss in excrutiating detail why this is not a good idea.
When a company has a pile of spare money it doesn't know what to do with, it'll normally do buybacks or start paying dividends. That gives the money back to the shareholders, and from an economic perspective the money can get better invested in other more promising companies. If you have a huge pile of of cash, you probably should be doing other things than leave it in a bank account to gather dust.
However, this statement from MicroStrategy CEO Michael Saylor exists to make it clear he's buying into BTC for all the wrong reasons:
“This is not a speculation, nor is it a hedge. This was a deliberate corporate strategy to adopt a bitcoin standard.”
Let's unpack it and jump into the economics Bitcoin:

Is Bitcoin money?

No.
Or rather BTC doesn't act as money and there's no serious future path for BTC to become a form of money. Let's go back to basics. There are 3 main economic problems money solves:
1. Medium of Exchange. Before money we had to barter, which led to the double coincidence of wants problem. When everyone accepts the same money you can buy something from someone even if they don't like the stuff you own.
As a medium of exchange, BTC is not good. There are significant transaction fees and transaction waiting times built-in to BTC and these worsen the more popular BTC get.
You can test BTC's usefulness as a medium of exchange for yourself right now: try to order a pizza or to buy a random item with BTC. How many additional hurdles do you have to go through? How many fewer options do you have than if you used a regular currency? How much overhead (time, fees) is there?
2. Unit of Account. A unit of account is what you compare the value of objects against. We denominate BTC in terms of how many USD they're worth, so BTC is a unit of account presently. We can say it's because of lack of adoption, but really it's also because the market value of BTC is so volatile.
If I buy a $1000 table today or in 2017, it's roughly a $1000 table. We can't say that a 0.4BTC table was a 0.4BTC table in 2017. We'll expand on this in the next point:
3. Store of Value. When you create economic value, you don't want to be forced to use up the value you created right away.
For instance, if I fix your washing machine and you pay me in avocados, I'd be annoyed. I'd have to consume my payment before it becomes brown, squishy and disgusting. Avocado fruit is not good money because avocadoes loses value very fast.
On the other hand, well-run currencies like the USD, GBP, CAD, EUR, etc. all lose their value at a low and most importantly fairly predictible rate. Let's look at the chart of the USD against BTC
While the dollar loses value at a predictible rate, BTC is all over the place, which is bad.
One important use money is to write loan contracts. Loans are great. They let people spend now against their future potential earnings, so they can buy houses or start businesses without first saving up for a decade. Loans are good for the economy.
If you want to sign something that says "I owe you this much for that much time" then you need to be able to roughly predict the value of the debt in at the point in time where it's due.
Otherwise you'll have a hard time pricing the risk of the loan effectively. This means that you need to charge higher interests. The risk of making a loan in BTC needs to be priced into the interest of a BTC-denominated loan, which means much higher interest rates. High interests on loans are bad, because buying houses and starting businesses are good things.

BTC has a fixed supply, so these problems are built in

Some people think that going back to a standard where our money was denominated by a stock of gold (the Gold Standard) would solve economic problems. This is nonsense.
Having control over supply of your currency is a good thing, as long as it's well run.
See here
Remember that what is desirable is low variance in the value, not the value itself. When there are wild fluctuations in value, it's hard for money to do its job well.
Since the 1970s, the USD has been a fiat money with no intrinsic value. This means we control the supply of money.
Let's look at a classic poorly drawn econ101 graph
The market price for USD is where supply meets demand. The problem with a currency based on an item whose supply is fixed is that the price will necessarily fluctuate in response to changes in demand.
Imagine, if you will, that a pandemic strikes and that the demand for currency takes a sharp drop. The US imports less, people don't buy anything anymore, etc. If you can't print money, you get deflation, which is worsens everything. On the other hand, if you can make the money printers go brrrr you can stabilize the price
Having your currency be based on a fixed supply isn't just bad because in/deflation is hard to control.
It's also a national security risk...
The story of the guy who crashed gold prices in North Africa
In the 1200s, Mansa Munsa, the emperor of the Mali, was rich and a devout Muslim and wanted everyone to know it. So he embarked on a pilgrimage to make it rain all the way to Mecca.
He in fact made it rain so hard he increased the overall supply of gold and unintentionally crashed gold prices in Cairo by 20%, wreaking an economic havoc in North Africa that lasted a decade.
This story is fun, the larger point that having your inflation be at the mercy of foreign nations is an undesirable attribute in any currency. The US likes to call some countries currency manipulators, but this problem would be serious under a gold standard.

Currencies are based on trust

Since the USD is based on nothing except the US government's word, how can we trust USD not to be mismanaged?
The answer is that you can probably trust the fed until political stooges get put in place. Currently, the US's central bank managing the USD, the Federal Reserve (the Fed for friends & family), has administrative authority. The fed can say "no" to dumb requests from the president.
People who have no idea what the fed does like to chant "audit the fed", but the fed is already one of the best audited US federal entities. The transcripts of all their meetings are out in the open. As is their balance sheet, what they plan to do and why. If the US should audit anything it's the Department of Defense which operates without any accounting at all.
It's easy to see when a central bank will go rogue: it's when political yes-men are elected to the board.
For example, before printing themselves into hyperinflation, the Venezuelan president appointed a sociologist who publicly stated “Inflation does not exist in real life” and instead is a made up capitalist lie. Note what happened mere months after his gaining control over the Venezuelan currency
This is a key policy. One paper I really like, Sargent (1984) "The end of 4 big inflations" states:
The essential measures that ended hyperinflation in each of Germany,Austria, Hungary, and Poland were, first, the creation of an independentcentral bank that was legally committed to refuse the government'sdemand or additional unsecured credit and, second, a simultaneousalteration in the fiscal policy regime.
In english: *hyperinflation stops when the central bank can say "no" to the government."
The US Fed, like other well good central banks, is run by a bunch of nerds. When it prints money, even as aggressively as it has it does so for good reasons. You can see why they started printing on March 15th as the COVID lockdowns started:
The Federal Reserve is prepared to use its full range of tools to support the flow of credit to households and businesses and thereby promote its maximum employment and price stability goals.
In english: We're going to keep printing and lowering rates until jobs are back and inflation is under control. If we print until the sun is blotted out, we'll print in the shade.

BTC is not gold

Gold is a good asset for doomsday-preppers. If society crashes, gold will still have value.
How do we know that?
Gold has held value throughout multiple historic catastrophes over thousands of years. It had value before and after the Bronze Age Collapse, the Fall of the Western Roman Empire and Gengis Khan being Gengis Khan.
Even if you erased humanity and started over, the new humans would still find gold to be economically valuable. When Europeans d̶i̶s̶c̶o̶v̶e̶r̶e̶d̶ c̶o̶n̶q̶u̶e̶r̶e̶d̶ g̶e̶n̶o̶c̶i̶d̶e̶d̶ went to America, they found gold to be an important item over there too. This is about equivalent to finding humans on Alpha-Centauri and learning that they think gold is a good store of value as well.
Some people are puzzled at this: we don't even use gold for much! But it has great properties:
First, gold is hard to fake and impossible to manufacture. This makes it good to ascertain payment.
Second, gold doesnt react to oxygen, so it doesn't rust or tarnish. So it keeps value over time unlike most other materials.
Last, gold is pretty. This might sound frivolous, and you may not like it, but jewelry has actual value to humans.
It's no coincidence if you look at a list of the wealthiest families, a large number of them trade in luxury goods.
To paraphrase Veblen humans have a profound desire to signal social status, for the same reason peacocks have unwieldy tails. Gold is a great way to achieve that.
On the other hand, BTC lacks all these attributes. Its value is largely based on common perception of value. There are a few fundamental drivers of demand:
Apart from these, it's hard to argue that BTC will retain value throughout some sort of economic catastrophe.

BTC is really risky

One last statement from Michael Saylor I take offense to is this:
“We feel pretty confident that Bitcoin is less risky than holding cash, less risky than holding gold,” MicroStrategy CEO said in an interview
"BTC is less risky than holding cash or gold long term" is nonsense. We saw before that BTC is more volatile on face value, and that as long as the Fed isn't run by spider monkeys stacked in a trench coat, the inflation is likely to be within reasonable bounds.
But on top of this, BTC has Abrupt downside risks that normal currencies don't. Let's imagine a few:

Blockchain solutions are fundamentally inefficient

Blockchain was a genius idea. I still marvel at the initial white paper which is a great mix of economics and computer science.
That said, blockchain solutions make large tradeoffs in design because they assume almost no trust between parties. This leads to intentionally wasteful designs on a massive scale.
The main problem is that all transactions have to be validated by expensive computational operations and double checked by multiple parties. This means waste:
Many design problems can be mitigated by various improvements over BTC, but it remains that a simple database always works better than a blockchain if you can trust the parties to the transaction.
submitted by VodkaHaze to badeconomics [link] [comments]

Bitcoin Not a Financial Instrument in Germany  What does it means? Bitcoin drive gains currency in Germany BITCOIN TAXES!! Bitcoin Bites: Germany recognizes digital currency as 'private money' Germany Won't Tax Bitcoin Users For Using The Cryptocurrency As A Means Of Payment

Germany’s capital, Berlin, was dubbed as the Bitcoin Capital of Europe by British publication The Guardian back in 2013 thanks to the widespread acceptance of the cryptocurrency in the city. Not surprisingly, Germany is a leader in Bitcoin adoption as various developments suggest. For instance, over 25% of the young Germans surveyed by the German Consumer Center were willing to invest in ... Germany. If you hold bitcoin for one year or more in Germany, you won’t have to pay any taxes. Regardless of how much money you make selling your BTC, you do not pay capital gains as long as you ... Few updates of Germany regarding the Cryptocurrency taxation and Bitcoin regulation in Germany. The cryptocurrency market is a very fluctuating one hence a number of countries have still not been able to classify them into any of the financial categories. In fact, cryptocurrencies are still banned in some of the countries whereas it is highly taxed in some of the other. VAT Treatment of Bitcoins in Germany On February 27, 2018, the Federal Ministry of Finance (BMF) has clearly expressed its legal position on the VAT treatment of Bitcoins. Referring to the ECJ’s judgment, the tax offices will – from now on – have to treat transactions in Bitcoin and other cryptocurrencies as VAT exempt. Which Crypto Taxes Apply in Germany? Germany’s tax authority, the BZSt, does not treat Bitcoin and other forms of cryptocurrency as legal tender or e-money. Instead, they are viewed as intangible assets – at least, for taxation law purposes. Germany has a vague stance when it comes to their cryptocurrency taxation scheme – meaning that cryptoassets do not have their own set of ...

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Bitcoin Not a Financial Instrument in Germany What does it means?

Welcome to our video aboutt crypto taxes 2020. We'll discuss your crypto tax, your bitcoin taxes, and everything you need to know about cryptocurrency taxes ... Germany Won't Tax Bitcoin Users For Using The Cryptocurrency As A Means Of Payment - Duration: 4:50. crypto 832 views. 4:50. Bitcoin supporters promise banking 'revolution' - Duration: 2 ... BITCOIN TAXES!! LET'S TALK!! I said 3,000 percent possible deduction when I was referring to possibly 3,000. My apologies.. Not Financial Advice! Entertainment only! For more information, Checkout our Complete 2020 Guide To Cryptocurrency Taxes: https://www.cryptotrader.tax/blog/the-traders-guide-to-cryptocurrency-taxes T... Germany Treads Lightly on Bitcoin Taxation Germany Treads Lightly on Bitcoin Taxation Germany is taking a lead within European Union established economies, deciding upon slow regulation when it ...

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