Spending Bitcoin in Switzerland is becoming easier as more areas started to adopt cryptocurrency payments. In some cities, like Zurich and Geneva, many restaurants and luxury boutiques accept, for instance, Bitcoin. In Lugano, the largest city in the Italian-speaking region of southern Switzerland, Bitcoin is even considered legal tender as of lately.
How to spend and store Bitcoin in Switzerland?
Public
Metaverse
Author: Tara Nedeljkovic
Category:
Fiscal subject related
Views:
178
Content accuracy validation date:
30.08.2024
Content accuracy validation time:
08:10h
Across Switzerland, certain online merchants and service providers also accept Bitcoin and other cryptocurrencies. Additionally, there are many services available to help in converting between fiat currency and crypto-currencies. The country is home to a large number of Bitcoin ATMs, making it simple to exchange Bitcoin for Swiss francs and vice versa. Switzerland's supportive stance on digital currencies provides Bitcoin holders with various options for buying and using cryptocurrencies.
Storing Bitcoin securely is crucial to protect against theft, hacking, and various scams. Keeping your assets on exchanges can expose them to hacking risks, even if you spread them across multiple exchanges. So-called hot wallets, which are connected to the internet, are always vulnerable to hackers. For better security, consider using cold wallets, which are physical devices like USB drives or paper wallets that are not connected to the internet (also known as hardware wallets). This offline storage method offers greater protection against online threats and is a preferred choice for long-term storage of cryptocurrency assets in recent times as a recommended method of keeping owned cryptocurrencies safer.
Other news from Metaverse
New document was uploaded: Recorded webinar: E-invoicing for Global Retailers
Public
All countries
Author: Kristina Dosen
If you are struggling with complex e-invoicing implementations across multiple countries, and if you are concerned about mounting costs, potential delays, or compliance risks, our webinar will help you to learn how global retailers can streamline e-invoicing efficiently! With countries worldwide mandating e-invoicing, international retailers face unique challenges adapting to new regulations acros... Read more
VAT on cryptocurrency sales in Greece, yes or no?
Public
Author: Kristina Dosen
The Greek Tax Administration has determined that the sale of cryptocurrencies is subject to VAT (value-added tax). This decision is based on the fact that cryptocurrencies are not officially recognised by the state as a legal means of payment. Therefore, they do not benefit from the VAT exemption that applies to foreign exchange transactions, banknotes, and coins that are considered legal tender.... Read more
Top 5 European Crypto Exchanges in 2024
Public
Metaverse
Author: Kristina Dosen
Metaverse
Author: Kristina Dosen
Many European crypto exchanges operate under different regulations and offer various features and services. Below are the top 5 crypto exchanges in Europe for 2024, based on their popularity of usage, reputation, security, and functionality, not in order. OKX Bybit Binance Kraken Coinbase. OKX is a Seychelles-based platform that offers trading, earning, and growing crypto with 43+ fiat cu... Read more
What is crypto-bridging, and how does it work?
Public
Metaverse
Author: Kristina Dosen
Metaverse
Author: Kristina Dosen
Crypto-bridging is the process of connecting different blockchains and enabling the exchange of cryptocurrencies, digital assets, and data across them. Crypto bridges allow different blockchain networks to communicate with one another and exchange assets and information. But how can crypto-bridging be of help to currency owners? It can be of help to owners of these currencies because it enhances... Read more
How bitcoin core v26.0 enhances the security and functionality of the Bitcoin Network
Public
Metaverse
Author: Kristina Dosen
Metaverse
Author: Kristina Dosen
Cryptocurrencies are digital currencies that use cryptography to secure and verify transactions and control the creation of new units. Bitcoin is a type of digital currency that operates on a decentralized network without the need for intermediaries like banks or governments. Bitcoin transactions are recorded and verified on a public ledger called the blockchain, which ensures security and transpa... Read more
New document was uploaded: Tax treatment of mobile game sales and in-game purchases
Public
Metaverse
Author: Kristina Dosen
Metaverse
Author: Kristina Dosen
Today, the video game industry is worth more than music and video streaming combined, with a value of $130 billion in 2018 and expected to become a $300 billion industry by 2025. With the rise of mobile games and easy access to those games through platforms such as Google Play or the App Store, the gaming industry has shifted from traditional retail of physical units to digital distribution and ap... Read more