Brazilian exchanges hit all-time volume high in October

TheIrishman

legendary

Activity: 1049

Merit: 1006

Quote from: dive on November 01, 2015, 08:38:05 PM

Quote from: VirosaGITS on November 01, 2015, 06:17:04 PM

No its not VAT. Vat is a Europe thing. That doesn't mean that rip off tax doesnt exist outside the Eurozone, what they call it does not matter. Brasil has a huge tax on sale of Bitcoin and it really kill the deal.

I'm not sure what you are referring to or what are your sources. Today there is no tax on sale of Bitcoin in Brazil.
There is capital gain taxes as part of regular income, but the purchase/sale of bitcoin is not taxed.

I live in Brazil and, like dive said, there is no "tax" on each purchase or sale of bitcoin. Bitcoin is NOT regulated in Brazil. The exchanges each have their own transaction fees but THERE IS NO BITCOIN-SPECIFIC GOVERNMENT TAX.

justbitcoins

member

Activity: 76

Merit: 10

Quote from: mirana12345 on November 10, 2015, 04:07:38 PM

Well, if the interest is growing and exchanges are at ath volume, it wouldn't surprise me if the coverage also spreads to some more merchants and services there,
but however, i doubt there will be bitcoin logos related to Olympics.
In regards to op, maybe it isn't a local thing after all, because all exchanges are showing insane rise in volume, which is spreading from china to other exchanges..

The volume rises in exchanges outside China is very large. It indicates a higher general interest in bitcoin. The blockchian transaction also rose recently.

mirana12345

hero member

Activity: 630

Merit: 500

PM me to buy traffic for your site!

Quote from: Possum577 on November 09, 2015, 04:38:40 PM

Great for Brazil!

I wonder if there will be a boom in activity and "bitcoin accepted here" signs leading up to the Olympics next summer. Anyone know?

Well, if the interest is growing and exchanges are at ath volume, it wouldn't surprise me if the coverage also spreads to some more merchants and services there,
but however, i doubt there will be bitcoin logos related to Olympics.
In regards to op, maybe it isn't a local thing after all, because all exchanges are showing insane rise in volume, which is spreading from china to other exchanges..

knowhow

hero member

Activity: 560

Merit: 500

Well the financial problems are affecting most of the countries ,politicians is rich and we are paying for the bad management made by them.And yes dollar as other currencies as eur and pound are growing too much,soo we are loosing in the long road and i think this is what goverment wanna to panic the people,because Brazil has plenty of resorces.

DarkHyudrA

legendary

Activity: 1386

Merit: 1000

English <-> Portuguese translations

Quote from: justbitcoins on November 10, 2015, 09:55:27 AM

Quote from: Possum577 on November 09, 2015, 04:38:40 PM

Great for Brazil!

I wonder if there will be a boom in activity and "bitcoin accepted here" signs leading up to the Olympics next summer. Anyone know?

I would like to see the "bitcoin accepted here" sign in Brazil. That will give enormous publicity to bitcoin and help its adoption.

Some rare places accept it. And of course, the tickets for entering Olympics games won't accept Bitcoin.
Although it got a new all-time high here on Brazil, remember 2 things:
-There's a crisis going on here. Last year 1 USD = 2.50BRL, now its over 1 USD = 3.80 BRL
-Rise in the value of BTC

So it's not that all good news.

justbitcoins

member

Activity: 76

Merit: 10

Quote from: Possum577 on November 09, 2015, 04:38:40 PM

Great for Brazil!

I wonder if there will be a boom in activity and "bitcoin accepted here" signs leading up to the Olympics next summer. Anyone know?

I would like to see the "bitcoin accepted here" sign in Brazil. That will give enormous publicity to bitcoin and help its adoption.

knowhow

hero member

Activity: 560

Merit: 500

Im from Brazil i dont use exchanges there is some members here buying our coin,can be a small or a high ammount just need to let know before and trust on the person.I had sold my bitcoins for a 30 dollars fee everytime i buy or sell it to him,soo its a 10% im sure he trades bitcoin and buy and sell at some exchange but he can have his clients or well he can be collecting bitcoins.

Possum577

sr. member

Activity: 434

Merit: 250

Loose lips sink sigs!

Great for Brazil!

I wonder if there will be a boom in activity and "bitcoin accepted here" signs leading up to the Olympics next summer. Anyone know?

justbitcoins

member

Activity: 76

Merit: 10

The higher volume is an indication of people's interest in bitcoin. The inflation is quite high in South America, bitcoin can protect people from high inflation.

christycalhoun

sr. member

Activity: 378

Merit: 250

Quote from: Blue_Tiger73 on November 02, 2015, 04:18:28 AM

It is nice too see that more and more countries are getting involved in Bitcoin. Those figures are also amazing, a 34% increase is quite a lot. Hopefully these figures will continue to rise. This is great for us, Bitcoin owners, Bitcoin and Brazil. Also, do you think that the US will get these kind of figures in the near future?

I think the US will increase sharply if the nation faces a currency crisis much like Brazil is facing.

AltcoinInvestor

sr. member

Activity: 294

Merit: 250

Quote from: jaberwock on November 01, 2015, 09:39:52 PM

Quote from: Mickeyb on November 01, 2015, 02:45:32 PM

Don't they in Brazil have to pay a VAT as well when they are buying bitcoins? This sucks since this makes Bitcoin about 20% more expensive for the Brazilians.

Nevertheless, I am not surprised that Bitcoin purchases are exploding in Brazil if we take into consideration crazy volatility of their national currency.

Not, at least from consumer side.

There is no finantial regulation about Bitcoin in Brazil, so Bitcoin transaction and buys/sell won't pay special taxes, like happens in Eurozone and other places where Bitcoin is regulated

Brazil is also not sophisticated about enforcing any sort of taxes regarding online purchases anyway. That could change soon though.

GetClams.com

full member

Activity: 179

Merit: 250

As they say in Brazil Tudo bem! Its all good.

Luqman

sr. member

Activity: 826

Merit: 263

It's mean that more people more known about Bitcoin, such a great news.

okae

legendary

Activity: 1401

Merit: 1008

northern exposure

that's a pretty good news, but in general don't forget that in last month's ( i mean this have been doing slowly ) almost all of them have been increasing their volumen, not only brazilians, with brazilians have been increased not only on his exchange volumen, they open lot of new bitcoins stores too.

seems like things are going pretty good on brazil for bitcoin users;)

n2004al

legendary

Activity: 1134

Merit: 1000

Quote from: tom555 on November 07, 2015, 06:20:35 AM

its an immpressive volume,and really corious what make this happen. is this have any connection with bitcoin raises?or they realize that bitcoin or cryptocurrency have a good potential,so they decied to trade as many as they can,i know that brazil one of the most many people using bitcoin there. but why it happen just this month?lets see what gonna happen next month.

I don't think so. Maybe I can tell even no. This increase of volume, as it was reported and told in the article (or in my post) was reached during several months and not immediately. I think that the last increase has to do with the big demand came from China. This enormous market can have the power to make those kind of changes in so few time.

tom555

full member

Activity: 210

Merit: 100

its an immpressive volume,and really corious what make this happen. is this have any connection with bitcoin raises?or they realize that bitcoin or cryptocurrency have a good potential,so they decied to trade as many as they can,i know that brazil one of the most many people using bitcoin there. but why it happen just this month?lets see what gonna happen next month.

n2004al

legendary

Activity: 1134

Merit: 1000

Quote from: Timeline on November 05, 2015, 07:14:03 AM

Great to know there are active BTC exchanges in Brazil I didn't know that.

Bitcoin is booming there. Over the last few months, the volume of all bitcoin trades have risen from 1.65 million us dollar to 2.6 million us dollar, showing a 158 percent monthly increase in trading volumes across all exchanges. This was happen although the reputation of bitcoin there is not good. But even with this reputation bitcoin is regulated by the brazilian Authorities since 2013. Anyone can understand easy with this case the power which have the process of regulation for bitcoin. Everything which happen there related with bitcoin (including the above facts) is a direct consequence of its regulation in this country.

See for more here: http://www.newsbtc.com/2015/09/04/bitcoin-trades-undergo-surging-volumes-in-brazil/ and here: https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country

Timeline

legendary

Activity: 924

Merit: 1000

TokenHouse decentralized cryptocurrency exchange

Great to know there are active BTC exchanges in Brazil I didn't know that.

VirosaGITS

legendary

Activity: 1302

Merit: 1068

Quote from: justbitcoins on November 02, 2015, 08:57:55 AM

Quote from: dive on November 01, 2015, 09:28:22 PM

Here you can check the price on all Brazilian exchanges: http://bitvalor.com

Right now available for sale at: R$ 1,240.00
Exchange rate now: = R$ 3.86
So, available for sale right now at USD 321.24
Bitstamp right now = USD 324.3
Bitfinex = USD 329.6

So... it's even cheaper.

So maybe the exchange is cheaper, but if you want to take bitcoin out of the exchange, you have to pay tax? Can anybody confirm that?

You must be talking about the tax i mentioned? The tax is on receiving fiat from selling Bitcoin, which is improperly tagged in Brazil, as a good of sort. So if they sell 1k worth of Bitcoin they need to pay 300$ which completely kill the deal. Hence why some exchanges had the price at a huge markup.

dive

full member

Activity: 194

Merit: 180

Quote from: justbitcoins on November 02, 2015, 08:57:55 AM

Quote from: dive on November 01, 2015, 09:28:22 PM

Here you can check the price on all Brazilian exchanges: http://bitvalor.com

Right now available for sale at: R$ 1,240.00
Exchange rate now: = R$ 3.86
So, available for sale right now at USD 321.24
Bitstamp right now = USD 324.3
Bitfinex = USD 329.6

So... it's even cheaper.

So maybe the exchange is cheaper, but if you want to take bitcoin out of the exchange, you have to pay tax? Can anybody confirm that?

No - you do not have to pay tax to get bitcoin out of the exchange.

Topic: Brazilian exchanges hit all-time volume high in October (Read 2225 times)