How to trade cryptocurrency in Belarus and is it legal to do so?
I have heard more than once that cryptocurrency is prohibited in Belarus and if you perform any operations with these assets, your bank account will be blocked.
This statement is true, but only partly true; in fact, not everything is so sad if you know Decree No. 367 “On the circulation of digital signs (tokens),” which today regulates cryptocurrencies in the Republic of Belarus.
Based on this decree, the circulation of cryptocurrencies is not prohibited at all, it’s just that all transactions with cryptocurrencies must go through “Residents of the Hi-Tech Park”
That is, you can buy and sell cryptocurrency in the territory of the Republic of Belarus only through companies located in this list - Residents for trading cryptocurrencies in the Republic of Belarus .
Today there are ten such companies:
- ImEx Global
- Alterpay
- Brightum
- Dzengi
- Dzengi Com
- DFS
- ERPBEL
- Pixel Internet
- White Bird
- Finex
If you need real cryptocurrency or want to sell existing tokens, then it is recommended to carry out all transactions through these companies. Since bank accounts are actually blocked if money goes to the address of a crypto exchange or arrives in your account after the sale of crypto.
How to trade cryptocurrency in Belarus without unnecessary formalities
It’s another matter if you don’t need cryptocurrencies for payments, but just want to make money on changes in the rate of Bitcoin or another coin.
In this case, everything is much simpler, since it is possible to trade cryptocurrency without receiving it in your wallet, but simply by opening a buy or sell deal with one of the brokers.
This method has a lot of advantages: firstly, you do not violate the existing law, and secondly, specialized brokerage companies have much lower commissions than residents of a high-tech park.
To start making money on cryptocurrencies, you will need to open an account with one of the cryptocurrency brokers .
Then, download the free software and top up your account with the required amount. In this case, you do not have to worry about blocking your account after you withdraw the profits to your bank account.
You will find all the necessary information on this issue in the section – Cryptocurrency trading