Is trading crypto independently considered a business?

[Farma]

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.

[Eugenar]

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.

[teosanru]

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.

[suzanne5223]

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.

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.

[Rufsilf]

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.

[Razick]

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.

[cryptoknightt]

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.

[BitcoinHunt3r]

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.

[doomistake]

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?

Yes, it is a real business, anything that we do as our profession and we are earning money, we can call that a business, it doesn't matter how much you earn, money is still money. The only I like when you are a freelancer is that you don't have any boss that will shout at you when you showed up late in your work, you control your time when you are working, there is no due dates on submitting your paper works and other things that are related to your work, and so on.

Being a freelancer is like a bird that you can go wherever you want, whenever you want, you don't have to wrote a letter for vacation leave, and it is not tiring compare to a real job that is stressful because of too much work load.

[Willitivity]

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
Trading is not a considered as a business for me its a kind of strategic gamble that if you have a good skill you can take advantage in some stage but its still a gamble there is a chance that you will win or you will lose all your investment in one time.

In as much as you don't want to refer trading crypto as a business, but from your analysis above still applies to every form of business in one way or the other. Every business requires a skill set to be able to carry it out properly in order to make progress. Crypto trading has its own skill requirements too for the progress of the business.

[HarmonyA]

Trading crypto on your own, with no employees and no storefront, is categorized as a real business. Because the primary aim of every crypto trader is to make a profit. Business is a commercial or industrial enterprise and the people who constitute it, with the sole aim of transacting for profit of all parties. But the priority of individuals to make a gain. Therefore, trading is considered a business

[The Cryptologist]

Trading crypto on your own, with no employees and no storefront, is categorized as a real business. Because the primary aim of every crypto trader is to make a profit. Business is a commercial or industrial enterprise and the people who constitute it, with the sole aim of transacting for profit of all parties. But the priority of individuals to make a gain. Therefore, trading is considered a business

I completely disagree. Because if that is true then what about gambling? People there are betting and profiting without even paying nothing back the government if they won the jackpot. At least in some local exchanges, you pay your taxes when you convert your coins to cash. Just categorizing crypto trading as a business is so weird because we are not buying and selling products but only currencies.

[BlackFor3st]

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.

[FanEagle]

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.

In my country, we have this kind of business where you can approach someone that has cash to give you cash using their that travelling far to an ATM locator to use ATM, but you could see such person very close to your street with POS, they will debit your money and then give you the cash equivalent while you pay them their fixed service charge.

These people have product also, and their product is their money, they are selling their money to make profit and that I think is how trading is also, you out in your capital which serves as a product that you sell, and then buy again, and sell. Provided what you are into has to do with buying and selling, I think that this is the strictly going to be called business, so for me, trading full time should be regarded to as business also.

[AicecreaME]

in my opinion, cryptocurrency trading is not a real business, it is a digital business.

Real business, digital business or whatever business you want to call it, business is business, as long as you are earning money it is business, as long as it is your occupation it is business, or even your profession, it is still business.

I categorize real businesses like buying and selling physical goods, such as vehicles, food, medical devices, and others. that's the real business.

Maybe not, the only difference is that you only buy and sell tokens just like physical goods that you have mentioned, I don't why you use the term "real", it is like you are saying that Trading is a "fake" business or you are playing by Trading. I will consider Trading as a real business because it is more complex and the earnings in Trading is much bigger than what you have mentioned physical goods.

besides, business people don't always get profits. some business people also suffer losses in a year.

Just like in Trading. Traders doesn't always gain profits because like "real business" traders are also people that is not perfect and made mistakes, that is why they are losing profits sometimes.

[Dread Pirate Roberts]

Is trading crypto on your own with no employees and no storefront categorized as a real business?
Where does trading online take on all of the aspects of being a legitimate and identifiable business?

For professional traders. trading can be the main source for their life I am talking about for trading on the stock market. but for trading on the crypto market. Hard to predict market charts and price movements are not always as expected and based on a certain news or reason. even with no reason at all price can moving up or down unpredicatable. for me consider trading in bitcoin just as alternative income.

[Anonylz]

It could be for some, especially when you take it as a full time job or quit your job doing it, trading as we know is not easy, it takes those who have the TA knowledge to do it successfully and profit from it,
anyone who takes trading as a business is definitely a professional and have the full understanding of market trend, if you are good at trading or can consider yourself as a pro, i don't see why not take it as a business or full time job, you will have the comfort of working from where ever pleases you, plus you are answerable to yourself,
and if what you generate from your trade is higher than your monthly salary, why wasting time, just concentrate on what profit you most.

[bitcoin31]

I don't think we considered trading as a business because it is kind of investment that's I think. The good with that while you are doing a trading you do also a business but time management is really need for that. Even a trader earn more money in trading it is not good to consider it as business. But both of this two need hard work , plan and of course the good capital to buy coin for trading and to buy goods for the business.

[shield132]

I guess it depends on country, yeah? What if you are trading through bank? (Yeah, some banks offer bitcoin exchange services). So I guess this action is pretty similar of national currency / usd exchange, do you pay fees for that? Personally in my country there are no fees on it from buyer. So I think you don't have to pay anything when you trade with crypto but still, maybe it depends on country and rules will be different in your one.
Don't know exactly what happens when you use international exchanges but still consider that in some countries, you pay zero fee for profit from foreign country.

[Spaffin]

I guess it depends on country, yeah? What if you are trading through bank? (Yeah, some banks offer bitcoin exchange services). So I guess this action is pretty similar of national currency / usd exchange, do you pay fees for that? Personally in my country there are no fees on it from buyer. So I think you don't have to pay anything when you trade with crypto but still, maybe it depends on country and rules will be different in your one.
Don't know exactly what happens when you use international exchanges but still consider that in some countries, you pay zero fee for profit from foreign country.

Recently, news appeared in the media that bankers are demanding to tax activities on the cryptocurrency market.  In turn, the governments of certain countries expressed their opinion that cryptocurrency users can only be taxed if the cryptocurrency is converted into fiat currencies.  But if we are talking about those countries where cryptocurrency is prohibited, then the user can use international exchanges using VPN to bypass the restrictions of his state.  But in this case, there should not be any connections of the cryptocurrency market with its bank accounts.