Is trading crypto independently considered a business?

[nelson4lov]

It cannot considered a business even if you are earning more than 30,000$ per year.

It will be considered as business only if in case you will hire some employees to manage your trading and you will process a legal papers like business permit and etc. but if you are doing it by yourself then it cannot be considered as business.

In my opinion, That's wrong. We are well aware that forex trading, Stock trading etc are regarded as businesses. So why not Crypto trading? If you're serious about taking your crypto trading to the next level, You can turn it to a Full Fledged business. It's possible. It'll shock you to know that there are folks that take their trading as a business. Don't forget taxes are charged in some countries on capital gains. So to get past this, You need to start thinking of crypto trading as a business.

Business is the activity of making one's living or making money. – Simply put, it is "any activity or enterprise entered into for profit

[1715202402]

1715202402

[1715202402]

1715202402

[1715202402]

1715202402

[1715202402]

1715202402

[1715202402]

1715202402

[KnightElite]

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?

You can't consider it as a business. Your perception is wrong, just because you can earn profit from trading it is not mean that it is a business. There is a high risk that you  may face in trading of cryptocurrencies.

[nydiacaskey01]

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 its not, because you don't have a product to sell or exchange. You can't add personal profits and make sell it. You don't have the power to control the price. Even if you take investments from others, create a pool and trade yourself, I don't think you can consider that as a business unless you have it registered as an investment company then you have a business.

[Oasisman]

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?

I don't think you can consider that as a business unless you have it registered as an investment company then you have a business.

This answers everything.
Theres a legal difference between "business" and some personal activities that generates income. Regardless, of the effort and the features that resembles to a real business, its still not considered as business if it wasnt registered to legally operate. Another thing, business is taxable.

[panganib999]

No, because you can lose money in trading and you can even hit rock bottom when you are going to trade, but if you win large you should enjoy it and take all the profit.
Business is providing of service or having a customer. Trading is a personal earned money and should not be considered as a Business, and also in trading the business part there is the trading website, but the traders will be called as a customer.

[gabbie2010]

There are professional crypto traders who trade cryptos as a full job thus trading it independently as a business having resigned from their daily job they took to trading as a full time trader having acquired a lot of skills with a huge investment portfolio while risking maximum of 5% per trade invariably trading with a strategy which has a high risk to reward ratio while reasonable amount of profits is made monthly which the trader withdraws to pay bills, buy stuffs etc.