I have been doing some research since I was trying to learn portuguese, it seems there is a Youtuber in brasil doing some videos on Bitcoin, this may have helped Bitcoin to be spread among the common folk who isn't familiar with it. He's got 50K followers:
https://www.youtube.com/watch?v=1n_9gzwlpZU
Unfortunately I can't understand most of what's being said on there but it's definitely good news and he's pro Bitcoin.
Topic: Brazilian exchanges hit all-time volume high in October - page 2. (Read 2225 times)
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.
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?
According to the website http://bitvalor.com the exchanges in Brazil hit a new monthly volume record at R$ 12.7 M (US $3.3M), a 34% increase of the prior record achieved in July.
Monthly volume record highs were achieved in 4 of the 7 exchanges that work with Brazilian Reais.
There is a full report in English available: http://bitvalor.com/relatorios
Direct PDF link: http://bitvalor.com/files/Report_bitValor_Bitcoin_Market_in_Brazil_October2015.pdf
Monthly volume record highs were achieved in 4 of the 7 exchanges that work with Brazilian Reais.
There is a full report in English available: http://bitvalor.com/relatorios
Direct PDF link: http://bitvalor.com/files/Report_bitValor_Bitcoin_Market_in_Brazil_October2015.pdf
These data and values are the most significant facts that show the importance or regulation of bitcoin within a country and the power that this regulation have in the spread and the use of bitcoin in that country where is regulated. The above data must make to think every lawmaker in every country which hesitates in making the needed actions to regulate bitcoin in him's country and every bitcoiner here in bitcointalk which is against the regulation giving as reason of him's behavior the most various fears about its privacy or other kind of fears.
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?
Thanks for the share, Brazil is not an exchange that I focus my attention on it is an important exchange.
That said it's good to hear trading volume is rising as it is a large market for money in Latin America and assuming all is going well higher volumes means increased incentive to improve and develop more bitcoin services as more users are attracted to the ecosystem so it's good to see a positive feedback loop
.
That said it's good to hear trading volume is rising as it is a large market for money in Latin America and assuming all is going well higher volumes means increased incentive to improve and develop more bitcoin services as more users are attracted to the ecosystem so it's good to see a positive feedback loop
.
this should be true for every exchange that is operating with bitcoin, because if the price increase the volume also must follow, so nothing extraordinary, people see the bubble and jump-in
new fresh money are always welcome, unless this can prove that this isn't only manipulation
new fresh money are always welcome, unless this can prove that this isn't only manipulation
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.
So the BTC price in Brazil is 30% higher. So its really not nice... and that does not mean sellers get 30% more, sellers get about the same as selling here and the tax take the 30%.
I didn't say that. I said that local currency purchasing power was reduced by that much.
BTC USD .vs. BTC BRL (at the USD BRL Rate) has been stable around -1% to 5% difference.
So seller gets something around this much. The spread used to be much higher 6 months ago and 12 months ago.
Now it responds quite fast to whatever the rates are in USD.
Check the exchange rate on their exchange website. My friend was unable to get Bitcoin because the price was +30%. If you know a way to get bitcoin in Brazil at normal price, please let me know. We been looking for a while for a way.
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.
If you sell BTC for 320, they need to pay huge tax since its considered an income. So he was not able to do it, since 30% was too much. If there are exchanges that just let you do it anonymously so you don,t need to declare it as taxable income, then sure. I gave him the link he'll check it out.
It would be legal from his side since he would be purchasing, not selling. On the other exchange, there was a tax added to the BTC price of 30%.
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.
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
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.
So the BTC price in Brazil is 30% higher. So its really not nice... and that does not mean sellers get 30% more, sellers get about the same as selling here and the tax take the 30%.
I didn't say that. I said that local currency purchasing power was reduced by that much.
BTC USD .vs. BTC BRL (at the USD BRL Rate) has been stable around -1% to 5% difference.
So seller gets something around this much. The spread used to be much higher 6 months ago and 12 months ago.
Now it responds quite fast to whatever the rates are in USD.
Check the exchange rate on their exchange website. My friend was unable to get Bitcoin because the price was +30%. If you know a way to get bitcoin in Brazil at normal price, please let me know. We been looking for a while for a way.
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.
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.
So the BTC price in Brazil is 30% higher. So its really not nice... and that does not mean sellers get 30% more, sellers get about the same as selling here and the tax take the 30%.
I didn't say that. I said that local currency purchasing power was reduced by that much.
BTC USD .vs. BTC BRL (at the USD BRL Rate) has been stable around -1% to 5% difference.
So seller gets something around this much. The spread used to be much higher 6 months ago and 12 months ago.
Now it responds quite fast to whatever the rates are in USD.
Check the exchange rate on their exchange website. My friend was unable to get Bitcoin because the price was +30%. If you know a way to get bitcoin in Brazil at normal price, please let me know. We been looking for a while for a way.
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.
So the BTC price in Brazil is 30% higher. So its really not nice... and that does not mean sellers get 30% more, sellers get about the same as selling here and the tax take the 30%.
I didn't say that. I said that local currency purchasing power was reduced by that much.
BTC USD .vs. BTC BRL (at the USD BRL Rate) has been stable around -1% to 5% difference.
So seller gets something around this much. The spread used to be much higher 6 months ago and 12 months ago.
Now it responds quite fast to whatever the rates are in USD.
I bet bitcoin will grow a lot more in the rest of South America as well, espeicially argentina. The exchange rates of these coutries are horrible.
It can't, really. Most of south America is under the huge Tax, which prohibit any sensible amount of volume that would let BTC grow in that region. Until the status of Bitcoin is changed there, they are pretty doomed there.
And the cost of ASIC there is also prohibitive with their 100-200% markup from importing it.
I bet bitcoin will grow a lot more in the rest of South America as well, espeicially argentina. The exchange rates of these coutries are horrible.
The currency and economy is going to heck so this is no surprise to me. Everybody is focusing on greece but I see a bigger currency crash in Brazil in the future.
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.
VAT is general is scam tax to be honest. How can you tax something which was already taxed before - I am talking about real goods here: like groceries or electronics.Nevertheless, I am not surprised that Bitcoin purchases are exploding in Brazil if we take into consideration crazy volatility of their national currency.
With bitcoin - which is digital currency taxing it with VAT is is PURE scam, and I am wondering why there are no black market exchanges in Brazil yet.
but still their volume is low. At best some hundreads of BTC by day, while the biggest exchanges have at least some 1000's of volume even in the most boring days
I think their problems with the Brazilian Real is making them see cryptocurrencies in a different way, much like what happened (and is still happening) in Venezuela.
I agree. The Brazilian Real lost between 30% and 40% of its value in 2015 compared to the US Dollar.
Don't they in Brazil have to pay a VAT as well when they are buying bitcoins?
As far as I know, VAT-type tax is not applied to any bitcoins sales in Brazil. Prices have been around 4-8% above US prices during the first half of the month and equivalent to US prices over the second half.I believe exchanges pay taxes only on top of the trading/deposit/withdraw fees they collect.
Buying someone who does not live in Brazil, do they still have to pay VAT or are free of charge?
No VAT.
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.
So the BTC price in Brazil is 30% higher. So its really not nice... and that does not mean sellers get 30% more, sellers get about the same as selling here and the tax take the 30%.
I think their problems with the Brazilian Real is making them see cryptocurrencies in a different way, much like what happened (and is still happening) in Venezuela.
I agree. The Brazilian Real lost between 30% and 40% of its value in 2015 compared to the US Dollar.
Don't they in Brazil have to pay a VAT as well when they are buying bitcoins?
As far as I know, VAT-type tax is not applied to any bitcoins sales in Brazil. Prices have been around 4-8% above US prices during the first half of the month and equivalent to US prices over the second half.I believe exchanges pay taxes only on top of the trading/deposit/withdraw fees they collect.
Buying someone who does not live in Brazil, do they still have to pay VAT or are free of charge?
No VAT.
Congrats to them! I hope every bitcoin exchange around the world doubles their previous all time highs soon! It should happen fairly soon with the way bitcoin has been moving lately.
Its not that good. BTC exchange is taxed like 30%, so its not even worth for my Brazilian friend to sell the BTC to FIAT. He has to spend it. But he still get raped on import tax which is completely ludicrous.
So cool we all got a price increase, but the Brazilians are still boned...
Do the lucky ones who live near a border with another more Bitcoin friendly country make trips there to buy Bitcoins, then smuggle them back to Brazil and sell them for VAT free fiat profit? Is bringing Bitcoins without declaring them classed as smuggling in Brazil, and are you supposed to pay tax on face to face sales?
Well you don,t really "move Bitcoin into Brazil" so its all nonsense anyways. The problem is its very hard to buy bitcoin this way since its not something you physically buy.
You still need to use your Brazilian credit card, unless you move to another country, open a bank account etc, which you typically can't do without being long into the emigration process.
Very interesting. Hard to anticipate that this volume will dissipate. Seems like this ball is rolling....onward!
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