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six
@six
1Mo·

Bitcoin question

Hello everyone,

I recently disposed of all my $BTC (+0,71 %) and realized the profits tax-free after >1 year.

The main reason for this was that I don't want to deal with all the regulations that are now necessary (proof of ownership, Satoshi test, etc.).


Is there another way to participate in the Bitcoin price without having to comply with the regulations?

Is it possible, for example, to leave my Bitcoin with a broker (e.g. Bison - hopefully reputable enough to store it on the exchange)?

Or would it be better to invest in a Bitcoin ETN such as $VBTC (-3,21 %) invest?

If neither is the case, Bitcoin is no longer an option for me.


I'll highlight the "Bitcoin Ollis" on Getquin here @DonkeyInvestor
@Testo-Investor
@stefan_21

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23 Commentaires
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Alexander_Bitcoin@Alexander_Bitcoin
1Mo
you can also buy $MSTR as an alternative.
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Testo-Investor@Testo-Investor
1Mo
Of course. Don't trade on such junk exchanges. Buy on Binance, Bitget etc ... still incomprehensible to me how you buy coins on Bisons, bitpanda etc ... and the fees are 15x higher ...
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six@six
1Mo
@Testo-Investor It's not primarily about buying, but about storing. I don't really want to transfer to the ledger anymore because, as I mentioned, I don't want to deal with the regularities.
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Testo-Investor@Testo-Investor
1Mo
@six not everyone who uses a cold wallet has to break it down... at least that's how I understood it... only if you trade on the weird exchanges - as mentioned. NO EXCHANGE is safe ... and certainly not your weird EU stock exchanges.... sorry... they certainly aren't.BingX, Binance, Bitget etc... have the shares all insured etc... But you don't leave your crypo holdings on the exchange.
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Marcel@Mcl1991
1Mo
@Testo-Investor For some, however, independent storage is too complicated and too risky. Therefore, these people prefer to leave the cryptos on the exchange.
At Bison, the cryptos are held in trust offline at blockknox GmbH.

How are the coins secured at Binance?
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six@six
1Mo
@Mcl1991 I also had the previous coins on my ledger. That wasn't a problem for me. I just don't want the new rules.
@Testo-Investor I also tried Strike, but it's the same problem with the regularities.
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Testo-Investor@Testo-Investor
1Mo
@Mcl1991 Binance has set up the "Secure Asset Fund for Users" (SAFU). This is an emergency fund that was launched in 2018. A portion of trading fees (usually 10%) goes into this fund to cover users' losses in the event of a hack. Binance was hacked in 2019, with 7,000 BTC (around USD 40 million at the time) stolen. Thanks to the SAFU fund, all users were compensated. This shows that Binance is taking security measures, but a residual risk remains.
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Testo-Investor@Testo-Investor
1Mo
@six I have no idea. I don't do anything where I have to adjust anything. Done... That speaks exactly against my attitude of crypto.... If I want and have to pay taxes then I do that, but I don't disclose my wallets. That's it. That's why I use exchanges where this -currently- doesn't play a role.
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Stefan21@stefan_21
1Mo
The regulation is mainly aimed at self-custody... if you simply leave your Bitcoin on the exchange, you won't have any problems in this regard. The same goes for an ETN.

If the exchange goes bust or is hacked, you would probably be out of luck - just like if the ETN provider goes bust, as these do not count as special assets.

I understand that the regulations annoy you - it's the same for me. For my part, I will buy more P2P in the future and sell them if necessary.
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six@six
1Mo
@stefan_21 What do you personally see as "safer" - stock market or ETN (in my youthful recklessness, I would have considered the ETN to be safer). And if the stock market, then most likely Bison (even if it goes against @Testo-Investor 😂).
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six@six
1Mo
@stefan_21 By P2P, you probably mean something like you posted in your post the other day?
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Stefan21@stefan_21
1Mo
@six I personally get a stomach ache when I hear "leave Bitcoin on the exchange"😅
On the other hand... with the ETN too😂

Purely for the participation in the price but then maybe the ETN... although there is also the question of what would happen in the event of a hack, for example. Would it be a total loss or would you be protected?

Since only self custody comes into question for me, I have never really dealt with the issues...
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Stefan21@stefan_21
1Mo
@six Yes, exactly. Then you buy and sell from and to private individuals :)
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six@six
1Mo
@stefan_21 I downloaded it once (Peach) and of course used your ref code.
I'll have a look at the app, but that might be an alternative.
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Stefan21@stefan_21
1Mo
@six Yes, take a look at it at your leisure :)
Over the last few days, offers at 0% surcharge kept coming in - yesterday there was even one with a -0.5% surcharge - i.e. cheaper than the market price. But I was too slow😅

Of course, it's not as convenient as on an exchange, as you always have to wait for good offers. Many offer their Bitcoin 7-10% above the market price and I personally wouldn't buy them.
But at least you don't have all the regulations :)
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Thomas@WolfofNersingen
1Mo
I have no idea which regulations you mean. I've been buying and selling BTC on various exchanges for years, hold it and have savings plans in place.
Never had a problem.
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six@six
1Mo
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six@six
1Mo
@WolfofNersingen valid from December 30, 2024
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six@six
1Mo
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Thomas@WolfofNersingen
1Mo
As long as you only trade on an exchange, the whole thing doesn't affect you.
Only if you want to send something from a ledger or send it to a ledger.
As long as you are not planning to do anything illegal, this is not a problem.
You can easily provide the required proof.
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Carsten@Carsten1970
1Mo
@WolfofNersingen I buy by pocket and also sell by pocket. Debit from the account Credit to the account. uncomplicated and very fast.

I like it uncomplicated. I used to trade on coinbase, but the fees are too high for me.
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Sasha S.@ziqs
1Mo
Bitcoin always belongs in a cold wallet 😅
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KoenigsRasse@KoenigsRasse
1Mo
$MSTR 🚀
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