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Why Bitcoin Taxes and Regulations Are A Good Thing

Why Bitcoin Taxes and Regulations Are A Good Thing

Disclaimer: The information provided in this is only for educational purposes and does not constitute financial advice. The information is also updated only up to the article’s publication date. Some of the information may become outdated in the future. Consult a financial professional before making any investment decisions.

In 2008, Satoshi Nakamoto published the Bitcoin whitepaper. This document came at a time when the world was facing a major financial crisis triggered by some of the biggest banks. As people lost their homes, their trust in the banking system also diminished.

The launch of Bitcoin was meant to bring a new, decentralized financial system. A system that Satoshi envisioned would protect consumers from the whims and fancies of traditional financial institutions.

You can read more about this in the History of Bitcoin.

So, decades after the introduction of Bitcoin to the world – has Nakamoto’s goal been achieved?

Admittedly, there have been positive changes, and Bitcoin is continuing to gain traction as a global currency.

However, not everything has unfolded the way the creator intended. Bitcoin was supposed to be a censor-proof digital currency, free from any third-party control, whether that be by government or financial institutions.

The crypto landscape, as it stands today, suggests that regulation and taxation could help bring Nakamoto’s vision closer to reality. Let’s dive deeper into this.

 

What’s the Big Deal with Regulations, Bitcoin and Taxes?

Bitcoin and taxes are seldom used in a sentence together because several Bitcoin maximalists hold a negative opinion towards taxation. However, to stay compliant within a jurisdiction, honest tax reporting is crucial.

Bitcoin’s place as the top cryptocurrency has prevailed over the years. Many still think of it as the digital replacement of traditional currencies.

Increased usage and network maturity are usually cited as the top reasons for Bitcoin’s growth so far. However, this doesn’t mean it hasn’t shown drawbacks.

To start, global governments, with the exception of a few countries, have shown an open distrust towards Bitcoin. A primary reason for this has been a lack of regulatory clarity.

On top of that, Bitcoin has also been hit by numerous scams and thefts, which have seen more than $4 billion worth of BTC either lost or stolen since 2011.

Bitcoin has also been hit by numerous scams and thefts, which have seen more than $4 billion worth of BTC either lost or stolen since 2011

 

While authorities have focused on the need to regulate cryptocurrencies, the responsibility often falls on wallet providers and crypto trading platforms that act as intermediaries.

A lack of supervision of these intermediaries poses a real threat to investors, as it puts them at risk of fraud and scams.

For instance, a major crypto exchange’s founder passed away and took the private keys for the exchange’s wallets with him. This left thousands of users with nothing more than a cautionary tale to warn others with.

Taxation brings accountability and trust. It keeps the crypto market more organized, preventing money laundering and other illegal activities.

Regulations can also provide security to investors who are looking to invest in cryptocurrencies. These laws protect them from being exploited by malicious actors and help create a climate of trust within the community.

Robust regulations and diligent taxation play a pivotal role in safeguarding consumer interests and maintaining a clear and accountable financial framework.

It is imperative to acknowledge that cryptocurrency investments are not exempt from these crucial obligations; rather, they must fully align with the legal mandates of the specific jurisdiction in which they function.

By adhering to established financial regulations, the cryptocurrency space can foster transparency, mitigate risks, and ensure the well-being of both investors and the broader financial ecosystem.

 

Why Bitcoin Shouldn’t Be the Wild, Wild West

The lack of clear regulation has not only led to huge amounts of lost funds but also to illicit activity. In the digital age, criminal organizations host their work online and are often leveraging cryptocurrency’s pseudo-anonymity to engage in illegal activities. Here’s an example:

Elon Musks tweet about Why Bitcoin Shouldn’t Be the Wild, Wild West

 

Have you ever seen Ethereum giveaway posts on Twitter? Been asked to invest in an ICO for a company that will revolutionize the world (hint: Bitconnect)?

Some time back, a U.S. Senate Committee held a hearing on crypto regulations, focusing on whether current policies and regulations sufficiently tackle the crypto industry.

The committee heard how regulations that apply to traditional banks and funds could also be applied to the growing cryptocurrency sector.

While the initial reaction to cryptocurrencies is often negative, it is good news for crypto enthusiasts that lawmakers are trying to look at the wider picture instead of simply banning cryptocurrencies outright.

After all, when have bans and witch hunts ever succeeded in silencing the voice of the people?

 

Better regulations lead to more adoption

The number of companies accepting crypto as payment has shot up in the last few years. Behemoths like MicroStrategy and Tesla, among others, have begun including Bitcoin on their balance sheets.

Recent patterns show that more clarity on Bitcoin regulations, and especially taxes, has convinced companies that it is now relatively safer to invest in or accept crypto.

Moreover, clear regulations have also begun to streamline the crypto sector in several countries and jurisdictions around the world.

Companies are already finding it easier to set up businesses in countries with unambiguous regulatory frameworks related to cryptocurrencies.

One example is U.S-based Circle Financial, which used to own the Poloniex exchange (now sold to the Tron Foundation). The firm moved a part of its crypto exchange operations to Bermuda, to better provide its services to its users.

The fact is that, with better and more straightforward regulations in the U.S., Circle probably wouldn’t have had to do this.

Unlike the US, Japan is taking leaps of progress, as it has been doing a great job with its regulatory framework for Bitcoin.

But what made the headlines in recent times is the European Union’s Markets in Crypto-Assets Regulation (MiCA). The MiCA bill established the most clearly defined among developed countries for businesses and individuals dealing with crypto assets. This move could be considered the spark that ignited the fire for most countries to come up with their own regulatory frameworks while drawing inspiration from EU.

Read more about MiCA here.

 

Who Defines the Regulations?

Who Defines the Regulations

 

While each country has its own financial regulator that oversees banking and fin-tech sectors, the crypto sector has largely been the wild-wild west with little to no oversight.

Bitcoin will greatly benefit from a regulatory structure that clearly defines it at a national level. At present, there is no single source of truth when it comes to launching a crypto business. The same is true for investing in cryptocurrencies – you are largely at the mercy of your lawyers and CPAs.

Below is a detailed list of countries, government agencies and regulators that are involved in Bitcoin (and other cryptocurrencies) regulation around the world:

Country

Regulatory Authorities

Role

USA Securities and Exchange Commission (SEC) Regulates cryptocurrencies that are considered to be securities
USA Commodity Futures Trading Commission (CFTC) Regulates cryptocurrencies that are considered to be commodities
USA Internal Revenue Service (IRS) Taxes cryptocurrency transactions as property
China People’s Bank of China (PBoC) Has banned cryptocurrency trading and mining
India Reserve Bank of India (RBI) Is considering a bill that would ban cryptocurrencies or regulate them heavily
European Union European Commission Is in the process of developing a regulatory framework for cryptocurrencies
Canada Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) Requires cryptocurrency businesses to register with FINTRAC and comply with anti-money laundering regulations
Germany Federal Financial Supervisory Authority (BaFin) Regulates cryptocurrency exchanges and custodians
Japan Financial Services Agency (FSA) Regulates cryptocurrency exchanges and requires cryptocurrency businesses to register with the FSA
South Korea Financial Services Commission (FSC) Regulates cryptocurrency exchanges and requires cryptocurrency businesses to register with the FSC
United Kingdom Financial Conduct Authority (FCA)* Regulates cryptocurrency exchanges and requires cryptocurrency businesses to register with the FCA
Australia Australian Securities and Investments Commission (ASIC) Regulates cryptocurrency exchanges and requires cryptocurrency businesses to register with ASIC
Singapore Monetar Authority of Singapore (MAS) Regulates cryptocurrency exchanges and requires cryptocurrency businesses to register with MAS
Switzerland Swiss Financial Market Supervisory Authority (FINMA) Regulates cryptocurrency exchanges and custodians
Estonia Financial Intelligence Unit (FIU) Requires cryptocurrency businesses to register with the FIU and comply with anti-money laundering regulations
Malta Malta Financial Services Authority (MFSA) Regulates cryptocurrency exchanges and requires cryptocurrency businesses to register with the MFSA
Gibraltar Gibraltar Financial Services Commission (GFSC) Regulates cryptocurrency exchanges and requires cryptocurrency businesses to register with the GFSC
Luxembourg Commission de Surveillance du Secteur Financier (CSSF) Regulates cryptocurrency exchanges and requires cryptocurrency businesses to register with the CSSF
Brazil Brazilian Securities and Exchange Commission (CVM) Regulates cryptocurrency exchanges and requires cryptocurrency businesses to register with the CVM
Argentina Central Bank of Argentina (BCRA) Requires banks to block cryptocurrency transactions
UAE Virtual Asset Regulatory Authority (VARA) VARA is responsible for licensing and supervising cryptocurrency businesses, as well as enforcing anti-money laundering regulations.

 

*The UK’s Financial Conduct Authority (FCA) is central to regulating cryptocurrency exchanges and businesses in the country. Cryptocurrency enterprises in the UK are obligated to register with the FCA and comply with anti-money laundering (AML) and know-your-customer (KYC) regulations, reinforcing security, consumer safeguarding, and responsible industry practices.

 

Crypto Companies Already Know How to Toe the Line

No one should think that cryptocurrency is totally averse to regulations.

Cryptocurrency-related companies in the U.S. and abroad have taken action to comply with rules governing other financial institutions. These include Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations.

Adhering to these standards and processes does not affect Bitcoin’s core principles of decentralization. Additionally, it is these same checks that have allowed Bitcoin to expand its reach beyond the shady darknet and forums in which its life began.

 

How Do Cryptocurrency Taxes Impact the Common Man?

One of the biggest debates in the crypto community regarding regulations is the issue of taxes on crypto.

Taxation has one fundamental objective: to help authorities raise the money needed to build and maintain a country’s infrastructure: hospitals, schools, roads, etc.

There is often an instinctively negative reaction to any kind of taxes on crypto.

A common misconception among many taxpayers is that tax regulation brings with it psychological torment, bureaucracy, and big chunks of lost money they would rather keep.

This general feeling hits a fever pitch when new laws that raise tax rates come into effect.

However, there needs more information about the importance and overall benefits of the policy. These will help people understand the reason why taxing Bitcoins can be both necessary and positive.

 

How to File Bitcoin Taxes?

If you have ever interacted with Bitcoin, be it as an investor or a miner, then you owe taxes (or at least report your financials to regulatory bodies).

That’s right; there are tax regulations related to cryptocurrencies. But how do you file for these cryptocurrency taxes?

As tax regulations for cryptocurrencies are still in their rudimentary stages in most countries around the world, you might feel slightly overwhelmed if you’re trying to figure it out all by yourself.

The process of how to file Bitcoin taxes varies across regions. Some commonalities may include the following:

  • Recording all your transactions/trades
  • Calculating your gains or losses
  • Filing the appropriate crypto tax forms with government agencies
  • Submitting tax payments, if applicable
  • Keeping records as proof of taxes paid if you’re audited.

In addition to that, many countries are also actively investing in blockchain technology and providing financial incentives for cryptocurrency startups. This is a good sign that governments are embracing cryptocurrencies and digital assets, which should make filing taxes easier with time.

 

What Happens if You Don’t Report Cryptocurrency on Taxes?

One of the most asked questions is “What happens if you don’t report cryptocurrency on taxes?”

In general, failure to report income is considered tax evasion and is a criminal offense in many countries. In the United States, for example, taxpayers who fail to report virtual currency transactions may be subject to civil penalties or even criminal prosecution.

Simply put, not paying your taxes is punishable by law. You must report all gains (and losses) from crypto trading to your tax agency.

This means you have to keep records of transactions that result in a taxable event, such as when you trade, sell, or trade Bitcoin for other cryptocurrencies.

As tax laws may differ from country to country, it is best to look at your local tax register to find out more about the taxes you’ll need to pay.

Furthermore, many tax agencies around the world have begun to focus on crypto traders. In 2019, a Swedish trader was penalized 300% of his actual profits for not properly filing his taxes.

The US has also been active, and at the moment, thousands of people are receiving notices concerning unpaid taxes on their Bitcoin holdings.

As a crypto holder, you should know that failure to pay Bitcoin taxes is engaging in tax fraud. Not paying your deeds could see you risk time in jail or heavy financial penalties.

Ignorance is never an acceptable excuse when it comes to matters of the law. So, claiming you ‘did not know’ is unlikely to hold up.

If you feel overwhelmed by the whole tax issue, it is advisable to consult a crypto tax accountant who can help navigate you through the puddle. Alternatively, you can try using crypto tax software.

Whichever route you take, it is important that you pay the taxes due on your Bitcoin investments.

 

Where Can You Find The Best Crypto Tax Software?

If you’re looking for the best crypto tax software, there are many great crypto and Bitcoin taxes calculator options available to you. Many have features such as auto-calculating gains and capital loss from trading activity, handling multiple exchanges, and preparing required IRS documents. Here are some good examples:

  • TurboTax Premium
  • Koinly
  • CoinTracker
  • TaxBit

Many good crypto tax software solutions allow you to connect the platform where you trade cryptocurrencies, like Binance, Huobi, etc., and automatically get all the required data to calculate your tax liability.

However, the best Bitcoin (and other crypto) tax software for you depends on several factors. Some of these variables are:

  • Is the software configured for the country where you owe taxes?
  • Can the crypto exchange you are using be connected with the crypto tax tool?
  • Does the software offer a portfolio tracker?
  • Does it automate tax calculations?
  • Is the user interface intuitive and easy to use?
  • How much does using the software cost?
  • Does to software have your country’s crypto tax form template?

Consider all of these factors (and others that may matter to you) before you finalize your Bitcoin taxes calculator.

But, how to not pay taxes on Bitcoin at all? Is that possible?

 

How to Not Pay Taxes on Bitcoin – Reduce Taxable Income

Many jurisdictions around the world offer ways for citizens to reduce their taxable income through legal tax breaks and incentives.

Depending on where you are located, it is possible not to pay taxes on your Bitcoin holdings. In most applicable cases, this is possible only up to a certain limit.

For example, short term capital gains (under 365 days) are taxed at 28%. However, long term capital gains (more than 365 days) from cryptocurrencies (including Bitcoin) are exempt. Therefore, by holding your Bitcoin for longer, you can potentially avoid paying any tax on it.

Further, since many countries have not fully regulated cryptocurrencies, there are several legal loopholes for investors to avoid taxation. However, governments are working to minimize such loopholes. Biden’s Wealth Tax Proposal is an example.

 

Bitcoin Mining Taxes – Capital Gains Tax or Income Tax?

In most countries, Bitcoin mining activities are considered to be a taxable event. This means that if you mine Bitcoin for profit, then profits generated from the activity will be subject to taxation according to regular income tax rules.

In cases where miners use special hardware and consume electricity to perform their work, they may be able to deduct costs associated with those items from their total reported income on taxes. This makes you eligible for tax returns or reduces tax liability.

That said, there are some exceptions to Bitcoin mining taxes. For example, if you live in a country with tax laws that classify Bitcoin mining as an investment activity (as opposed to a business), you may be able to deduct capital gains taxes from your total taxable profits.

If you are mining Bitcoin, consult a tax professional in your jurisdiction for more clarity on how you should report your earnings (or capital losses).

Note that some countries, like China, have a complete ban on Bitcoin mining.

Read where is Bitcoin illegal here.

 

Crypto Tax Rates Across All Countries

Below is the crypto tax rate for 200+ countries.**

Country

Capital Gains Tax Rate

Income Tax Rate

Afghanistan 20% 20%
Albania 15% 10%-23%
Algeria 25% 20%-35%
Andorra 0% 0%
Angola 25% 20%
Antigua and Barbuda 25% 15%-30%
Argentina 21% 20%-35%
Armenia 18% 10%-23%
Australia 0%-47% 0%-45%
Austria 27.50% 0%-50%
Azerbaijan 18% 20%
Bahamas 0% 25%
Bahrain 0% 0%
Bangladesh 25% 0%-30%
Barbados 20% 30%
Belarus 13% 13%
Belgium 33% 0%-50%
Belize 12.50% 0%-25%
Benin 20% 0%-35%
Bhutan 22% 0%-32.5%
Bolivia 3% 0%-30%
Bosnia and Herzegovina 15% 0%-40%
Botswana 0% 0%-25%
Brazil 15%-22.5% 0%-27.5%
Brunei 0% 0%
Bulgaria 10%-15% 7%-15%
Burkina Faso 30% 0%-35%
Burundi 15% 0%-30%
Cambodia 0% 0%-20%
Cameroon 35% 0%-35%
Canada 0%-50% 0%-50%
Cape Verde 25% 0%-28%
Central African Republic 30% 0%-30%
Chad 35% 0%-35%
Chile 10%-27% 0%-40%
China 20%-30% 0%-45%
Colombia 19% 0%-35%
Comoros 25% 0%-32.5%
Democratic Republic of the Congo 20% 0%-35%
Republic of the Congo 0% 0%-30%
Costa Rica 15% 0%-25%
Côte d’Ivoire 20% 0%-35%
Croatia 12% 0%-40%
Cuba 0% 0%
Cyprus 20% 0%-35%
Czech Republic 19% 15%-23%
Denmark 27% 0%-56
Djibouti 10% 0%-35%
Dominica 20% 0%-33.3%
Dominican Republic 27% 0%-27%
East Timor 0% 0%
Ecuador 22% 0%-25%
Egypt 22% 0%-25%
El Salvador 0% 0%
England 0%-20% 0%-45%
Equatorial Guinea 30% 0%-40%
Eritrea 25% 0%-35%
Estonia 20% 20%
Eswatini 15% 0%-30%
Ethiopia 20% 0%-35%
Federated States of Micronesia 0% 0%
Fiji 20% 15%-25%
Finland 30% 25%-53%
France 30% 11%-45%
Gabon 35% 0%-35%
Gambia 25% 0%-35%
Georgia 15% 0%-20%
Germany 0%-45% 0%-45%
Ghana 25% 0%-35%
Greece 15%-45% 0%-45%
Grenada 20% 25%
Guatemala 20% 0%-35%
Guinea 25% 0%-35%
Guinea-Bissau 20% 0%-35%
Guyana 25% 0%-30%
Haiti 30% 0%-35%
Honduras 15% 0%-25%
Hungary 15%-35% 15%-40%
Iceland 22% 23%-46%
India 30% 0%-30%
Indonesia 0%-30% 0%-30%
Iran 20% 0%-25%
Iraq 15% 0%-35%
Ireland 33% 0%-40%
Israel 25% 10%-50%
Italy 26% 23%-43%
Jamaica 25% 0%-25%
Japan 30% 5%-45%
Jordan 20% 0%-35%
Kazakhstan 10% 10%-30%
Kenya 30% 0%-35%
Kiribati 0% 0%
Kuwait 25% 0%-35%
Kyrgyzstan 10% 0%-15%
Laos 0% 0%
Latvia 20% 20%
Lebanon 15% 5%-22%
Lesotho 20% 0%-35%
Liberia 25% 0%-35%
Libya 20% 0%-25%
Liechtenstein 12% 13%
Lithuania 20% 20%
Luxembourg 20% 15%-45%
Macedonia 10% 0%-15%
Madagascar 20% 0%-35%
Malawi 30% 0%-35%
Malaysia 0%-30% 0%-30%
Maldives 0% 0%
Mali 25% 0%-35%
Malta 15% 0%-15%
Marshall Islands 0% 0%
Mauritania 20% 0%-35%
Mauritius 0%-30% 0%-30%
Mexico 1.9%-35% 0%-35%
Micronesia 0% 0%
Moldova 18% 7%-20%
Monaco 0% 0%
Mongolia 25% 0%-30%
Montenegro 0% 0%
Morocco 20% 0%-40%
Mozambique 25% 0%-35%
Myanmar 0% 0%
Namibia 25% 0%-35%
Nauru 0% 0%
Nepal 25% 0%-30%
Netherlands 20% 37.10%
New Zealand 0%-33% 0%-33%
Nicaragua 15% 0%-25%
Niger 30% 0%-35%
Nigeria 20% 0%-30%
North Korea NA NA
Northern Mariana Islands 0% 0%
Norway 22% 22%
Oman 20% 0%-35%
Pakistan 25% 0%-30%
Palau 0% 0%
Palestine 15% 0%-35%
Panama 0%-25% 0%-25%
Papua New Guinea 30% 0%-30%
Paraguay 10% 0%-28%
Peru 5%-29.5% 0%-50%
Philippines 20% 20%
Poland 19% 18%-32%
Portugal 17% 14.5% – 48%
Qatar 0% 0%
Romania 16% 10%-55%
Russia 20% 13%-35%
Rwanda 30% 0%-30%
Saint Kitts and Nevis 25% 0%-25%
Saint Lucia 17.50% 0%-30%
Saint Vincent and the Grenadines 25% 0%-25%
Samoa 20% 0%-25%
San Marino 7.50% 17%-24%
Sao Tome and Principe 25% 0%-35%
Saudi Arabia 20% 0%-35%
Scotland 20% 20%
Senegal 25% 0%-35%
Serbia 15% 10%-20%
Seychelles 0% 0%
Sierra Leone 30% 0%-35%
Singapore 0% 0%
Slovakia 19% 19%
Slovenia 20% 15%-50%
Solomon Islands 30% 0%-30%
Somalia NA NA
South Africa 40% 18%-45%
South Korea 24% 6%-42%
South Sudan 0% 0%
Spain 20% 19%-45%
Sri Lanka 20% 0%-30%
Sudan 20% 0%-30%
Suriname 30% 0%-35%
Swaziland 30% 0%-30%
Sweden 30% 32.01%-56.99%
Switzerland 0%-11.5% 0%-40%
Syria 25% 0%-35%
Taiwan 40% 4%-40%
Tajikistan 20% 0%-13%
Tanzania 30% 0%-30%
Thailand 15% 5%-35%
Togo 20% 0%-35%
Tonga 0% 0%
Trinidad and Tobago 25% 0%-25%
Tunisia 20% 0%-35%
Türkiye (Turkey) 30% 15%-40%
Turkmenistan 15% 0%-10%
Tuvalu 0% 0%
Uganda 30% 0%-30%
Ukraine 18% 18%
United Arab Emirates 0% 0%
United Kingdom*** 10%-20% 0%-45%
Uruguay 12% 0%-30%
Uzbekistan 14% 0%-12%
Vanuatu 20% 0%
Vatican City 0% 0%
Venezuela 30% 0%-35%
Vietnam 20% 5%-35%
Wales 20% 20%
Yemen 20% 0%-35%
Zambia 30% 0%-30%
Zimbabwe 25% 0%-35%
Åland (autonomous region of Finland) 20% 20%

**Note that the aforementioned tax rates are subject to change. They are as latest as August 2024 and are not updated in real time.

***Tax obligations for individuals and businesses in the UK are established and overseen by Her Majesty’s Revenue and Customs (HMRC). Adhering to UK tax laws and ensuring precise tax reporting is of paramount significance, as it not only upholds the integrity of the country’s revenue system but also fosters a fair and equitable distribution of financial resources, vital for maintaining public services and economic stability.

 

Conclusion

Cryptocurrency has been a disruptive force in global economic policies, shaking up paradigms established over centuries. It’s no wonder, then, that regulators worldwide have taken steps to bring crypto under their purview.

For Bitcoin to continue its meteoric rise, it needs to abide by the same rules as conventional financial systems. Regulators must see cryptocurrency businesses acting with compliance and due diligence in order to maintain trust.

So, if you’re a crypto enthusiast, it pays to stay current on legislative updates and understand the regulations that govern your everyday dealings with cryptocurrencies.

By understanding the regulations and their implications, you’ll be well-equipped to handle any changes that come your way. You can remain in compliance without sacrificing the fundamental principles of Bitcoin, which make it so revolutionary in the first place.

By doing this, we ensure that cryptocurrency is here to stay both now and in the future.

Cryptocurrency is here to stay, but it needs to be regulated and compliant. By understanding the regulations that govern our everyday dealings with cryptocurrencies, we can maintain trust and keep Bitcoin’s revolutionary principles intact.

Ensuring the enduring success of cryptocurrency hinges upon robust regulation and unwavering compliance. These safeguards not only foster investor confidence and market stability but also curb illicit activities within the realm of digital finance. It’s worth noting that the present article has been adapted to adhere to the UK’s stringent financial promotions regulations, underlining our commitment to ethical dissemination of information. It remains paramount, however, that readers exercise prudence and consult with financial and tax experts to make well-informed decisions tailored to their individual circumstances.

 

Keep Up with All-Things Crypto on Paybis

At Paybis, we strongly advise individuals to act according to the laws governing their jurisdiction – that includes reporting profits and losses to file taxes diligently and voluntarily.

On Paybis, you will find ample resources to learn more about cryptocurrencies, regulations, and some tools like crypto tax software to help you navigate the web3 space better.

Consider starting on your crypto investment journey with as little as $4 today with Paybis. Buy or sell crypto directly using your preferred payment method.

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