Bitcoin Union – Do I have to pay taxes?

Last Updated: 19 May 2024

When trading currencies such as bitcoin over the internet, it is possible to make high profits. If this is the case, you also have to deal with the issue of taxes. Nevertheless, you should first consider which currency you want to trade.

Bitcoin Union offers a variety of currencies that can be traded. If you don’t want to focus only on Bitcoin, there are some currencies that are very popular for trading.

The Bitcoin itself has such a high value that you can no longer make very high profits here. With the smaller currencies, on the other hand, it is different. Since the value here is still very low, you can still expect much higher profits.

How can you profit from Bitcoin Union?

Step 1: Click on the link to go to the official website of Bitcoin Union.
Step 2: Fill out the form to get a FREE licence to trade.
Step 3: Follow the instructions on the platform to profit from bitcoin quickly!

But in this case, it is also possible to lose all the money here. The risk is of course very high, so everyone has to decide for themselves whether it is worth taking the risk. If you want to be on the safe side, it’s best to stick with bitcoin.

Here you can assume that it will continue to develop well in the future and that you can at least make small profits. Once you have done that and made a profit via Bitcoin Union, you will also have to deal with the issue of taxes.

How to pay taxes on Bitcoin Union profits is explained below.

 

Bitcoin Union - Do I have to pay taxes?

How are Bitcoin Union profits taxed?

The profits of Bitcoin Union must always be declared in the tax return. It does not matter how high the profits were this year. However, if the profit is less than 600 euros, you do not have to pay tax on the profits.

The profit is calculated by looking at how much you have deposited with Bitcoin Union in a year and comparing this with the withdrawals you have requested.

So if you still have a withdrawal open towards the end of the year, you can postpone it to the next year. If you do that, you can put the profit into the next year.

This makes sense, for example, if the payout at the end of the year exceeds the limit of 600 euros. In this way, you can determine for yourself how high your profit will be in the current year.

If you can stay below the limit, you can avoid paying taxes in the current year. However, since the profit is only deferred, you have to keep in mind that you will have to pay taxes in the coming year.

Author
  • Luke Handt

    Luke Handt is a seasoned cryptocurrency investor and advisor with over 7 years of experience in the blockchain and digital asset space. His passion for crypto began while studying computer science and economics at Stanford University in the early 2010s.

    Since 2016, Luke has been an active cryptocurrency trader, strategically investing in major coins as well as up-and-coming altcoins. He is knowledgeable about advanced crypto trading strategies, market analysis, and the nuances of blockchain protocols.

    In addition to managing his own crypto portfolio, Luke shares his expertise with others as a crypto writer and analyst for leading finance publications. He enjoys educating retail traders about digital assets and is a sought-after voice at fintech conferences worldwide.

    When he's not glued to price charts or researching promising new projects, Luke enjoys surfing, travel, and fine wine. He currently resides in Newport Beach, California where he continues to follow crypto markets closely and connect with other industry leaders.

error: Alert: Content is protected !!