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Showing 2 of 2 results by Forexgdp20
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Re: BITCOIN FOREX EXCHANGE FOR INDEPENDENCE FROM ANY CURRENCIES
by
Forexgdp20
on 24/06/2020, 08:34:52 UTC
I think the problem of converting BTC to local currency has been solved. Sell bitcoin on a cryptocurrency exchange, such as Coinbase or Kraken. This is the easiest method if you want to sell bitcoin and withdraw the resulting cash directly to a bank account. To make sure brokers do not break money laundering laws, you will need to withdraw to the same bank account that you deposited with. It’s simple, easy and secure, but it’s not the fastest method. For the U.S., the average time for money to reach your account is about 4-6 days but it varies by country. Any associated fees also depend on the country that your bank is located in. Coinbase https://www.forexgdp.com/is the most popular broker exchange for buying and selling bitcoin. They process more bitcoin transactions than any other broker and have a massive customer base of 13 million.
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Board Bitcoin Discussion
Re: Taxes on Bitcoins: Unreasonable or essential?
by
Forexgdp20
on 20/06/2020, 12:48:49 UTC
Government have always been wary of Bitcoins as a whole. They are never ready to accept that cryptocurrencies have made a significant improvement in the lives of many. Unfortunately if you search online about the taxation on Bitcoins , in many countries it's very unreasonable.

It's not a government owned platform.One might be aware of the fact that the government is tracking down people who owns Bitcoins. Taxes on cryptocurrencies are always a matter of debate , in a country like India 30-20% of the Tax is supposed to be paid by the handler who is using the cryptocurrencies like Bitcoins and earning more than a fixed number.

20-30% is not at all a reasonable tax price.

At the same time there are countries where taxation is not considered regarding the cryptocurrencies.

Portugal
Germany
Singapore
Malaysia
Belarus
Slovenia
Malta
Switzerland

(https://news.bitcoin.com/eight-countries-that-dont-tax-your-bitcoin-gains/)

What do guys think ?
Should the government place taxes on Bitcoins or should they let it be? Since they are not helping cryptocurrencies in any way, I do think they should stop making profits out of people. A reasonable tax percentage should be applied ofcourse, but it does not give them the right to label the cryptocurrencies as free money . They should understand that it's a serious issue and if some money is coming from cryptocurrencies, they should at least use 1% of it to educate people about cryptocurrencies.

How much is the taxation on Bitcoins in your country ? Is it reasonable or government is just trying to make profit out of it ?


It is 0% for those in the 10-15% income bracket, 15% for those in the 25-35% income bracket, and 20% for those in higher brackets