Bitcoin Pro – Do I have to pay taxes?

Bitcoin Pro is a provider that you can use to trade currencies like Bitcoin on the internet. Most of us should be familiar with Bitcoin by now.

As it has continued to rise in recent weeks, you can read new good news about Bitcoin in the internet almost every day. If you’ve always wanted to get your share of Bitcoin, you can now do the same.

Bitcoin Pro is a good provider to fulfil this wish. But if you don’t only want to bet on Bitcoin, you can still use the software.

Other currencies are also offered here, which you should also take a closer look at, because here too there is still a lot of potential for a large increase.

Compared to bitcoin, it is perhaps even the case that significantly higher profits can be made here if you trade the right currency. So if you have made it in the end and left the trade with a profit, you have to ask yourself how to pay tax on it. You can find out more about this in the following text.


Bitcoin Pro - Do I have to pay taxes?

How do you have to pay tax on Bitcoin Pro profits?

In general, you have to pay tax on all profits you make in this area. However, it is not the case that you have to pay taxes directly from the first cent. To make it clear, you have to declare the profits in your tax return as soon as they have been made.

However, if they are less than 600 euros per year, they will not affect the tax burden for that year. If the profits exceed this limit, taxes will also be due here. You should therefore think carefully about when to have your winnings paid out.

Now you can find out why this is important.

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When should you cash out Bitcoin Pro profits to your account?

The profits that you have earned with Bitcoin Pro can be paid out to your account at any time. The decision here lies solely with the customer. Nevertheless, from a tax point of view, it can be important at which point in time one applies for the payout.

For example, if you apply for and receive a payout in December of this year, you must declare the winnings in your tax return for that year as well.

At this late point in the year, however, you can also think about postponing the payout a little and making it in January. In this case, the taxes on the profits will not be due until this year.

There are reasons why it can make sense to postpone the payout until next year.

  • 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.