What Exchange To Choose When Cryptocurrency Trading In Germany?
The downsides of trading crypto in Germany is that it’s not legal and you’re also obliged to pay taxes for it. The tax depends on what kind of an investor, or trader you are and isn’t an exact number.
The main perks are that the country allows some big exchanges, like Binance to work on its territory. That way, you can use proven by time brokers for selling, buying, or even storing your crypto assets.
Crypto regulations in Germany
Trading Bitcoin isn’t considered legal tender, but people still make money with it, since transactions with the digital currency still can’t be tracked. However, Germany seems to be accepting crypto in the future according to their plans about it.
Also, exchanges already can exist and provide services to their users from Germany. The presence of the license is checked by Germany’s Financial Supervisory Authority, or BaFin. For example, Binance works in Germany thanks to the CM-Equity custody license with BaFIN.
Best exchange to use in Germany
The best exchange in Germany to use for crypto is Binance with a large gap between its quality and the quality of other platforms. Binance is a worldwide famous organization that offers tons of crypto assets for trading or investing.
It has a user-friendly support team with a fast response time of about 1 hour. Moreover, the company has an academy where you can learn the basic concepts of trading crypto, technical analysis, and other useful things.