... to Buy Cryptocurrency? To start using cryptocurrency, you first need to acquire it with regular money (fiat currency such as rubles, dollars, euros). There are several main ways to buy cryptocurrency from scratch, each with its own features: Through cryptocurrency exchanges (CEX). This is the most popular route. Centralized exchanges are online platforms for trading digital coins. Users register, go through the Know Your Customer (KYC) process as required by regulations, deposit fiat money (e.g., via banking card ...

... Pay Attention To Regulatory Changes: Keep an eye on new laws and decisions from the Bank of Russia regarding cryptocurrencies — they may significantly alter the market. Launch of Platforms: The emergence of the first legal platforms for the sale and exchange of cryptocurrency will be an important signal. Even if they are not accessible to all, the very fact of their launch will set a significant precedent for the market. Tax Reporting: Comply with FTS requirements — timely registration (when necessary) and ...

... to know that, as of now, there are no legal regulations or permissions for conducting such transactions in Russia. Thus, this method of exchange is illegal. In the event of issues, reclaiming funds can be nearly impossible. When choosing a method for exchanging cryptocurrency, it is necessary to weigh all the strengths and weaknesses. Newcomers are recommended to start with Forex. As they gain experience and increase their capital, they can transition to other exchange methods. It is essential to analyze as ...

... important to correctly calculate the taxable base. For example, if you bought Bitcoin for 1 million rubles and sold it for 1.5 million rubles, the profit constituted 500 thousand, and income tax of 13% should be paid on this difference. Transactions exchanging one cryptocurrency for another can also be viewed as a sale resulting in income. While legislation is evolving, failing to declare profits from cryptocurrency can lead to problems with tax authorities. Therefore, honestly fulfilling tax obligations is part ...

... the dollar. Unlike most cryptocurrencies, whose rates fluctuate constantly, Tether's price is fixed around $1. This allows USDT to be used for holding funds without the risk of volatility, facilitating the swift movement of dollars between different cryptocurrency exchanges and DeFi protocols, and for transactions where stability is required. Essentially, Tether has become a sort of bridge between traditional finance and the crypto industry: it’s easy to exchange Bitcoin or Ethereum for “dollars” and vice ...