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How to buy Loopring in Switzerland
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Frequently asked questions
The Loopring coin (LRC) is available on most exchanges. You can also buy this crypto from the Loopring
exchange itself. However, it would be a good option if you purchase this coin on a more affordable
exchange like Blocktrade. Since you don’t need to pay any processing fee on this platform, it would be
more cost-effective for you to buy LRC on Blocktrade.
According to the deadline settlement document of Swiss Federal Tax Service (SFTA), the tax year in Switzerland runs from January 1 to December 31 each year. Crypto holders are taxed depending on the rates published by the FTA by the end of the fiscal year (31 December). Your crypto taxes should be reported in your annual tax return where you also report ordinary income from employment.
According to the tax legislation by SFTA, income from cryptocurrency mining and staking is declared as taxable income for tax purposes. Mining considerations can qualify either as employment income or as income from self-employment.
The loopring is a Chinese-based company founded by a software developer called Daniel Wang.
However, the Loopring protocol was registered in Singapore.
There are two factors that affect the cost of cryptocurrency purchase. The price of the cryptocurrency itself and the exchange commission. Our exchange is practically one of the cheapest means to buy crypto since it does not charge any exchange fee.
Loopring is a protocol that makes it possible for its users to create their own exchanges on this network.