Topic: Is trading crypto independently considered a business? - page 2. (Read 518 times)
Maybe something that can make us earn money is kind of business. No matter we are offer service or maybe sell something. Maybe business is like kind of something that we do for ourself. And not like works, we manage our own income and can control it as much as we want.
some people consider trading as a job but in my opinion if trading is made as a job I think it is not enough because the need for human money when you have a family is very much and if you only rely on trading then it is very unsuitable if it is used as your main job.
I don't know if it's a business but technically crypto trading is relevant to the government. If you haven't registered a business, then it is not considered as a business, but it is still considered as income if you profit from trades,.and you need to report it to your government.
Well, I do consider trading as a business but not entirely. Business is not all about buying, selling goods, product and service. For me business is getting a benefits or simply profit for your own good and for other as well. Some other says that business runs by multiple number of people but the truth is there is sole proprietorship which run by single person and just like other it sells product and service. Now if we were going to apply it in crypto trading, a single person buy and sell his/her coins to public(refers to fellow traders). It is more likely as long as there is transaction involved it CAN be considered as a business.
It is clearly stated here https://www.expowest.com/en/register/business-categories.html where trading belongs to and definitely it was a business. I don't think we have to put in doubts. As everything we do around that involves money are to be considered another form of business even though we benefited from this or not. But most likely we do business just to have profit and that is what we do in trading.
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Not entirely.
A business is where you have products and with trading I dont think it is a product but more of just money circulating and decision making.
With business you let it flow and you can do marketing strategies to make it sell to the public.
I want you to know that a business is what ones do regularly to earn money or get pay either by selling of product, trading or offer service which I believed crypto trading also fall the exact category.A business is where you have products and with trading I dont think it is a product but more of just money circulating and decision making.
With business you let it flow and you can do marketing strategies to make it sell to the public.
I dont think that is the same with trading. You are on your own and it is more like gambling your money. It is too far for a comparison.
Every aspect of life or selling product is a form of gambling until ones get require bullish result. An example is the owner of KFC which risk his reputation by creating a new chicken recipe. Is trading crypto on your own with no employees and no storefront categorized as a real business?
If you profit $300 per year from this stuff, is that considered a business?
How about profiting $3,000 per year?
Or profiting $30,000 per year?
Where does trading online take on all of the aspects of being a legitimate and identifiable business?
As far as legitimacy of a business is concerned you can consider any activity which you are doing as business until and unless that thing is legal in your country. Which means even trading is considered as a legitimate business. From a legal standpoint you are a sole proprietor carrying on his trades all on his own and enjoying the profits and bearing losses all on its own. This is a identifiable business model however your business is not a separate entity in eyes of Law. This is how sole proprietorship works in all the countries. Moreover it absolutely doesn't depends upon what you are earning. Infact, it's a business if you are not earning anything. If you profit $300 per year from this stuff, is that considered a business?
How about profiting $3,000 per year?
Or profiting $30,000 per year?
Where does trading online take on all of the aspects of being a legitimate and identifiable business?
Well, I do consider trading as a business but not entirely. Business is not all about buying, selling goods, product and service. For me business is getting a benefits or simply profit for your own good and for other as well. Some other says that business runs by multiple number of people but the truth is there is sole proprietorship which run by single person and just like other it sells product and service. Now if we were going to apply it in crypto trading, a single person buy and sell his/her coins to public(refers to fellow traders). It is more likely as long as there is transaction involved it CAN be considered as a business.
in my opinion, cryptocurrency trading is not a real business, it is a digital business. I categorize real businesses like buying and selling physical goods, such as vehicles, food, medical devices, and others. that's the real business.
other than that, whatever the benefits, it will still be categorized as a business, even if you work alone. besides, business people don't always get profits. some business people also suffer losses in a year.
other than that, whatever the benefits, it will still be categorized as a business, even if you work alone. besides, business people don't always get profits. some business people also suffer losses in a year.
It may differ in some ways on how people interpret or perceive independent trading.
Some may see it as a business but I think it's more of a source of income if your making
and earning a reasonable good amount from it. I believe it's more like a progressive
investment in a rapidly volatile yet lucrative market. It's hard to tell though, since
when your talking of business it is a discerning concept that implies money making on
a regular basis, both a long term and a short one in that aspect.
Some may see it as a business but I think it's more of a source of income if your making
and earning a reasonable good amount from it. I believe it's more like a progressive
investment in a rapidly volatile yet lucrative market. It's hard to tell though, since
when your talking of business it is a discerning concept that implies money making on
a regular basis, both a long term and a short one in that aspect.
I consider crypto trading by myself as a business, but I don't know what will people called it. As long as we can make money from what we did, it is called the business. Maybe people will not call that business because they see that business will need employee or place and have a product as you said. But with the growth of the technology, we break that because we can have an online store on the internet, we can sell some product in our website, we can work as a freelance and other else.
A business is something that we can do, and we can earn money from time to time so that it will give some return to us. I think that will be the same as what people did in their office.
A business is something that we can do, and we can earn money from time to time so that it will give some return to us. I think that will be the same as what people did in their office.
Is trading crypto on your own with no employees and no storefront categorized as a real business?
If you profit $300 per year from this stuff, is that considered a business?
How about profiting $3,000 per year?
Or profiting $30,000 per year?
Where does trading online take on all of the aspects of being a legitimate and identifiable business?
If you profit $300 per year from this stuff, is that considered a business?
How about profiting $3,000 per year?
Or profiting $30,000 per year?
Where does trading online take on all of the aspects of being a legitimate and identifiable business?
For tax purposes? The IRS does not consider trading to be a business activity. Trading income is unearned income, not business income subject to self-employment taxes.
There can be tax benefits to treating it like a business though. They are listed in the article I linked. The primary ones being
- You can deduct business expenses (like computer, trading software/subscriptions, internet access)
- In losing years, you can deduct more than $3,000 per year in net capital losses
I'm not a US citizen but it's great to know that you can deduct some money per year in net capital losses, for me that sounds amazing.
And also the benefits of treating trading as a business, I'm the kind of guy that thinks trading has only capital gains taxes, or that's considered investing?
Not entirely.
A business is where you have products and with trading I dont think it is a product but more of just money circulating and decision making.
With business you let it flow and you can do marketing strategies to make it sell to the public.
I dont think that is the same with trading. You are on your own and it is more like gambling your money. It is too far for a comparison.
A business is where you have products and with trading I dont think it is a product but more of just money circulating and decision making.
With business you let it flow and you can do marketing strategies to make it sell to the public.
I dont think that is the same with trading. You are on your own and it is more like gambling your money. It is too far for a comparison.
Anything you do and you have the intentions of making profit or having gain either in a short term or a long term can be considered as a business.
So I will think trading cryptocurrency as a business
So I will think trading cryptocurrency as a business
If you profit $300 per year from this stuff, is that considered a business?
How about profiting $3,000 per year?
Or profiting $30,000 per year?
-You can consider crypto not as business, but as an additional source of income. If you can make enough money, yes, but when you want to meet your needs based on the earnings that come from crypto trading, you may starve for several months. IMO there should be the source of the fixed income, and the money coming from the trade should be seen as an additional. But if you think you are a professional in this business and can handle these risks properly, it is the best that you can do.How about profiting $3,000 per year?
Or profiting $30,000 per year?
-How much you want to earn depends on how you want to live and where you live.
Is trading crypto on your own with no employees and no storefront categorized as a real business?
If you profit $300 per year from this stuff, is that considered a business?
How about profiting $3,000 per year?
Or profiting $30,000 per year?
Where does trading online take on all of the aspects of being a legitimate and identifiable business?
If you profit $300 per year from this stuff, is that considered a business?
How about profiting $3,000 per year?
Or profiting $30,000 per year?
Where does trading online take on all of the aspects of being a legitimate and identifiable business?
Depends on your definition of real business. Lots of people make money selling things online, trading stock and Foreign currencies without employees and no storefront. I guess you don't consider this online businesses as real businesses as they can be done without employees and storefront . I really don't understand why alot of people think that online business aren't real business.
Is trading crypto on your own with no employees and no storefront categorized as a real business?
If you profit $300 per year from this stuff, is that considered a business?
How about profiting $3,000 per year?
Or profiting $30,000 per year?
Where does trading online take on all of the aspects of being a legitimate and identifiable business?
No that wouldn't be considered as a business. Just making profit doing something does not mean it is business. If you go by this definition of making profit, then gambling would also be considered as a form of business. But do we consider gambling as a business? Nope. Again, a business should have an organization that is engaged in commercial activity, but there aren't any when you are trading to make profit. If you profit $300 per year from this stuff, is that considered a business?
How about profiting $3,000 per year?
Or profiting $30,000 per year?
Where does trading online take on all of the aspects of being a legitimate and identifiable business?
I can consider that as your business because you are earning money but make sure that you don’t need much money for your daily needs because trading can’t give you fix profit everyday. If you gain a lot of money from trading, treat it as your business and make a good decision for you to stay on that business.
You can treat it as a good business since you are already using it to generate earnings, there's different opinions about to this but the important thing is how you consider this venture. For people who can afford to generate bigger income from this field they can consider that it is an freelance business where you are the boss of your own income generating business.
How to Start a Bitcoin Exchange in 10 Simple Steps
1. Obtain proper legal counsel to ensure licensing requirements are met.
2. Attain funding for venture.
3. Find a cryptocurrency exchange software solution provider.
4. Connect your exchange with others for added liquidity.
5. Partner with a payment processor.
6. Implement best security practices.
7. Go live via beta testing.
8. Start marketing & PR campaign.
9. Offer customer support.
10. Maintain a legal team for ongoing compliance.
1. Obtain proper legal counsel to ensure licensing requirements are met.
2. Attain funding for venture.
3. Find a cryptocurrency exchange software solution provider.
4. Connect your exchange with others for added liquidity.
5. Partner with a payment processor.
6. Implement best security practices.
7. Go live via beta testing.
8. Start marketing & PR campaign.
9. Offer customer support.
10. Maintain a legal team for ongoing compliance.
It can be considered as a good business even if you don't gave employees or other co workers.
If you are doing it alone, sooner enough, you can have other or employ additional hand.
On the other hand, earning only 300 dollars per year or 3000 dollars per year to me is not a good business or right earning.
If you are doing it alone, sooner enough, you can have other or employ additional hand.
On the other hand, earning only 300 dollars per year or 3000 dollars per year to me is not a good business or right earning.
Is trading crypto on your own with no employees and no storefront categorized as a real business?
If you profit $300 per year from this stuff, is that considered a business?
How about profiting $3,000 per year?
Or profiting $30,000 per year?
Where does trading online take on all of the aspects of being a legitimate and identifiable business?
If you profit $300 per year from this stuff, is that considered a business?
How about profiting $3,000 per year?
Or profiting $30,000 per year?
Where does trading online take on all of the aspects of being a legitimate and identifiable business?
When we say business, it is very long explanation. Lot of people all around the world are earning without owning
their business. Because if you own a business, it means that business must supposed to be register under your name.
Therefore, if we are a crypto trader, while we do profit in trading, it means we are buying and selling under the business
of any exchange platform that owning by other people not our own business.
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