How to Buy Cryptocurrency in Belgium
Buying cryptocurrency in Belgium
According to the Belgium Court, trading in any non-traditional currency such as bitcoin still counts as a valid financial transaction. Thus, the use of bitcoin is not banned or frowned upon in Belgium. However, the country has not made any proactive steps toward making cryptocurrencies a larger part of people's lives. They failed to provide clear guidance on cryptocurrency taxation and all the legal aspects behind its use.In other words, Belgium is not as invested in cryptocurrencies as Belarus, although they are not banning the use of Bitcoin and similar currencies online. Thus, cryptocurrencies still remain unregulated in Belgium, which is why their Financial Services and Markets Authority, along with The National Bank of Belgium, have warned the citizens of potential risks when it comes to using these digital currencies. When it comes to tax regulations, any income that's related to cryptocurrency sales is still classified as “miscellaneous income” and, as such, it is subject to tax.
As of 20/03/2021
Exchanges Info
These exchanges all accept customers from Belgium. While they broadly offer the same services and you can buy cryptocurrency at all of them, there can be differences in transaction fees, security, verification requirements, deposit methods and features, as shown below
Binance
Binance is one of the largest crypto exchanges with low fees, 100s of coins, and high trading leverage. It is one of the easiest & cheapest exchanges for crypto trading.
Hundreds of coins and pairs
- Very low fees
- High liquidity
No US residents
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Bybit
Based in Singapore and registered in the British Virgin Islands, Bybit is a P2P cryptocurrency exchange offering perpetual futures products with 100:1 leverage. Bybit can process 100k transaction per second which is a great feature for leveraged trading.
- Advanced and secure technology
- Anonymous accounts
- Attractive trading bonuses
- Very low fees
- Limited asset coverage
- No option instruments
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Kraken
Kraken has a good reputation for security and protection of your funds and operates across the USA (except NY), Canada, the EU and Japan
- It can be used to trade against fiat options
- Robust security measures
- Free SEPA deposits in Europe
- Not a very beginner-friendly interface.
- No card deposit options
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Uphold Disclaimer: Asset availability on the Uphold platform is subject to region. All investments and trading are risky, and may result in the loss of capital. Cryptoassets are largely unregulated and are not subject to protection
Uphold
Based in Charleston, South Carolina. Serves over 184 countries and has done over $4 billion in transactions. Offers convenient options to swap between crypto, fiat, equities, and precious metals.
- Open to US residents
- Integrated with Brave Browser
- Over 50 different coins
- Also offers precious metals and equities
- Convenient and cheap deposit/withdrawal methods
- High trading fees
- Smaller coin selection compared to some
- No Paypal withdrawal option
- No instant debit card withdrawals
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