HOME INSIGHTS KNOW HOW TO INVEST IN CRYPTO CURRENCIES: TAXES & LAW | #5 INVESTMENT-GUIDE
Disclaimer: We are not lawyers, attorneys, tax consultants or the like. This means that all information contained in this article does not constitute advice and is purely an account of experience.
If you understand the possibilities, it is just as important that you can put the concrete steps into practice. Unfortunately, this sometimes includes the unpleasant things in life, such as tax and legal aspects.
Because the topic of crypto investments is so young, there are only a few sources of information that investors can rely on. Therefore, we cannot provide you with any advice at this point either. It is much more important to draw your attention again to the importance of both aspects.
Tax aspects about the Bitcoin news
As a rule, you trade in crypto investments with the intention of making a profit, otherwise you would not read this Bitcoin news. Since in the best case you also make profits, you have to take care of the correct taxation. Keep all the receipts of your transactions so that you can track all necessary purchases and sales more easily in the end. We recommend that you always consult an expert, as the self-made version could prove to be very difficult. Plan your visit to your tax advisor in good time, as the less than favourable visit should not turn your balance sheet into a negative one.
Bitcoin news about the legal aspects
Once again, be aware that with crypto investments you are traveling in a virtual area according to onlinebetrug.de. Always be aware that this type of business is not comparable to buying from domestic companies. You often don’t know who is really behind the Bitcoin news. Maybe the person disappears after only a short time with all the money collected? Or does he pay out the promised coins, which remain worthless because the project is never implemented and the coins are therefore not usable?
Don’t rely too much on your rights, which you are used to from other situations. Crypto investments can hardly be compared to securities trading on stock exchanges. In the first case the legislator regulates most processes very strongly and you can rely on a relatively good rights management.
You bear full responsibility for crypto currencies. If you lose your private key, a „Forgot password“ function or a „Request new PIN“ function will not help you.
We have arrived at the end of the Crypto Investment Guide. It is certainly tempting to want to get started right away and take advantage of the many „unique“ opportunities. But: Act with caution. And keep reminding yourself what advantages/disadvantages a certain investment category promises you and what it doesn’t offer you. Because those who are after your money will not always tell you the truth.