Corona Millionaire – Do I have to pay taxes?

Last Updated: 15 February 2024

In this day and age, many people have a lot more time on their hands due to Corona and want to use it wisely. If you decide to earn money in your free time, you can certainly do this very well with cryptocurrencies such as Bitcoin.

Most of us probably know Bitcoin because this currency is always in the media. The Bitcoin can be traded for many years and has since then taken an extreme course.

If you traded with the Bitcoin at the beginning, you could still buy them for 8 cents. In the meantime, the Bitcoin has already cracked the 50000 euro mark and has thus already created many millionaires.

How can you profit from Corona Millionaire?

Step 1: Click on the link to go to the official website of Corona Millionaire.
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 fast!

If you want to become a Corona Millionaire even in this day and age, however, it doesn’t make sense to invest in bitcoin, as the really big profits are no longer possible here. In this case, you should rather bet on currencies that are not yet so well known.

Behind the Bitcoin, there are many other currencies that are only worth a few cents. If you choose a currency to trade here, with a bit of luck you can catch one that also has a similar development.

If that’s the case, you may never have money problems again and you can live a different life after Corona. So if you actually decide to earn money with currencies in the Corona period and actually manage to do so, you also have to deal with the issue of taxes.

Corona Millionaire Benefits

Do taxes have to be paid on profits from currency trading?

Of course you have to pay taxes on the profits from trading. However, not from the first euro. You have to declare all profits on your tax return, even if they are very small. However, you do not have to pay tax on them in full.

Up to the limit of 600 euros, no tax is due on the profits. If you stay below this limit for a year, you have to declare the profits in your tax return, but you do not have to pay tax on them.

If, on the other hand, you are above this limit, you must also pay tax on the profits. However, you can also decide for yourself whether to request a payout from the provider or whether to wait until the following year.

If you postpone the payout to the following year, you will have a lower profit in the current year. In this way, you can possibly stay under the 600 euro limit and avoid paying taxes on the winnings.

Nevertheless, you will have to pay the profits in the coming year, so you should keep this in mind beforehand.

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.

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