“Do I need a license to sell Bitcoin?” is one of the questions that I get asked daily by my friends who are interested in learning how they can profit from trading virtual currency. They are also looking for ways to invest in this fast-growing trend for the long term. I have been asked this question so many times; it has become a running joke in our social groupings. This article is a primer to help potential investors and entrepreneurs get a clear answer to this question penthouse for sale in Dubai.
Physical Commodity
You may be asking yourself, “Why do I need a license to sell Bitcoins for real estate? The first reason is that you are selling something with an intangible asset (like a computer hard drive or a membership site) in which there is no physical commodity. You are not selling the actual item that you purchased. Therefore, for Real Estate in Dubai, you are not subject to sales tax unless you purchase the item using your credit card.
Traditional Real Estate
Another reason that you don’t need a license to sell Bitcoins is that you are not selling anything, so you are not subject to the exact paperwork requirements that apply to the sale of traditional real estate. Unlike regular real estate, the IRS doesn’t have to worry about who gets the money in and out of your house. There are special rules that apply to individuals, but no rules for businesses. That leaves you free to choose whether you want to sell your possession monthly, quarterly or yearly, depending on your situation.
Sales Tax
Why would I pay a sales tax on the sale of my possession? Because you are technically in business, and the government has declared that it is OK to charge you a tax based on the value of whatever you are selling. If you sell something and take out loans against that sale, you are liable for that tax. This applies to all sales tax, not just to sales tax that applies to people.
Type of Service
Why do people call themselves “bitcoins merchants”? Because that’s what they claim to do. The only people who can legally serve as brokers on the Internet are people who have completed the necessary licensing through the appropriate authority in their state. Like a driver’s license and a passport, these licenses are easily attested by local authorities, and the process is painless. Of course, there are some minor hoops to jump through, but that is the general idea behind this type of service.
Type of Transaction
Do I need a license to sell a product or service? Again, you cannot legally sell anything in most states without one. The types of products and services that you can legally sell vary from person to person. You might decide to open a coffee shop if you wanted to. You can sell nothing at a fee that cannot be converted into cash, which is the backbone of this type of transaction.
Do I need a license to become a contractor? This kind of thing is pretty much a grey area. Some states require your contractor license before scheduling building works or remodeling, but this is not always true. The construction industry is a complicated one. The rules can change in an instant, and it can seem not very clear more articleecho.
Last Word:
Do I need a license to sell Bitcoins? No. As long as you have complete trust in both the buyer and the seller, there is no reason not to go ahead and use this method to exchange money. Of course, if you want to run your own business, you may feel more comfortable using a different method. However, remember that the significant benefit of trading with this method is that you don’t need a license to sell bitcoins!
