Sirwin
Sirwin

Trading Crypto in Belgium

By elpis | Economics & Politics | 8 Feb 2021


This article focuses on the political & taxation of cryptocurrencies in Belgium. I will start exploring other European countries in my subsequent posts

A summary of individual taxation on gains from cryptocurrencies would be the classification of your activities & income based on whether it is a professional activity or speculative trading. For companies, however, crypto is treated like any other asset and follow the normal law. The below link provides a high-level overview of Tax implications.

https://www.taxpatria.be/how-bitcoins-are-taxed-in-belgium/

https://www.reddit.com/r/BEFire/comments/kqugjj/tax_on_crypto/ 

Website for fraud reporting in Belgium

Koinly provides both free & paid options to track & calculate your crypto taxes.

If you are looking at setting up a crypto company in Belgium then the below site should get you some insights.

https://tokyotechie.com/cryptocurrency-exchange-license-belgium/

Binance in Europe has been my favorite for both trading & wallets for trading purposes.

Crypto mining in Belgium: The economics of crypto mining using either ASICS or graphics card approach is not generally positive due to high energy costs i.e. around 28 euro cents per kWh. There are however some opportunities for those who have solar panels installed or use gas to produce electricity for their homes. In general cost of gas for electricity production would be around 4 euro cents per kWh + additional storage/conversion losses. You can install mini-power generation units for your home or office with some practical fuel cell solutions like BlueGen. But then with PoS coming in from Ethereum 2.0, why not shift to PoS? What about the economics of Bitcoin you may ask. When the supply of miners is high for bitcoin mining, will it ever be profitable? The only miners who use the cheapest electricity (near-zero cost) may edge the rest of the miners in the market. 

Crypto ATMs can be found at coinatmradar

altcoin.be provides information for gambling with crytpos 

Bit4you is a belgian crypto asset exchange platform. You can buy USDT using your bancontact.

 

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elpis
elpis

Hope 4 humanity


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