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Spending small amounts of crypto is great, but it also entails quite a hassle when it comes to analyzing all the taxable events...
Yes, the tax question is a relevant one and not the clearest one, plus it might differe per country. Nevertheless, in our understanding, according to a European Union Court of Justice (ECJ) ruling in 2015, crypto should be considered as any other means of payments from a tax perspective, hence spending crypto through a Visa card should not be a taxable event. Taxation should only apply if you divest your holdings into FIAT or into another coin, making a capital gain (or a loss to deduct it). Please note this is no tax advice and we acknowledge it is a complex matter. It is definitely a taxable even as long as you realize a gain, there is no doubt about that. If you buy BTC for 8,000 and then use it when it is worth 9,000, you realize a gain that is taxable. What if you are in Europe, you buy pounds, you go to the UK in a couple of months, the pound increases in value and you spend it, would that be a taxable event? It wouldn´t, so that´s the point when you consider it a means of payment. Now, again, we are not prescriptive on this, that is our understanding today and we are studying day after day, considering the new information and positionings available. |
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Spending small amounts of crypto is great, but it also entails quite a hassle when it comes to analyzing all the taxable events...
Yes, the tax question is a relevant one and not the clearest one, plus it might differe per country. Nevertheless, in our understanding, according to a European Union Court of Justice (ECJ) ruling in 2015, crypto should be considered as any other means of payments from a tax perspective, hence spending crypto through a Visa card should not be a taxable event. Taxation should only apply if you divest your holdings into FIAT or into another coin, making a capital gain (or a loss to deduct it). Please note this is no tax advice and we acknowledge it is a complex matter. |
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Hello,
what about buy limits, last week I was able to purchase 100€ of BTC, this week it's telling me that the minimum amount of BTC I can purchase is 0.02, which is around 150€.
If this 0.02 limit continues, and BTC rises, it's going to be impossible to top-up my card with "small" amounts
Hello Shodan, thank you for your reply. This is a known issue, and we are working on improving that aspect of the service! Please send an email to support@2gether.global or shake your phone when you are in the app to send a report, it really helps! Already did, and on the Telegram channel (admin also confirmed it's a bug) Hi, this is Ramón, CEO of 2gether, I just bought 0,002 BTC (~€14) and it worked fine. Maybe you want to try again, make sure you have enough euro balance. Investigating a bit further, you can indeed buy any amount above 0,002 BTC. However, when you try to buy less, there is a typo on the error message in the English version, indicating that you cannot buy any amount lower than 0,02 BTC. We will solve it shortly. Let us know if you manage to buy the desired amount, and if not, please come back to us again. I hope this helps. Cheers! |
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Hello,
what about buy limits, last week I was able to purchase 100€ of BTC, this week it's telling me that the minimum amount of BTC I can purchase is 0.02, which is around 150€.
If this 0.02 limit continues, and BTC rises, it's going to be impossible to top-up my card with "small" amounts
Hello Shodan, thank you for your reply. This is a known issue, and we are working on improving that aspect of the service! Please send an email to support@2gether.global or shake your phone when you are in the app to send a report, it really helps! Already did, and on the Telegram channel (admin also confirmed it's a bug) Hi, this is Ramón, CEO of 2gether, I just bought 0,002 BTC (~€14) and it worked fine. Maybe you want to try again, make sure you have enough euro balance. |
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