Do you have to pay taxes to buy Bitcoins through Nubank?

Estimated reading time: 3 minutes

Since June, Nubank customers can buy Bitcoin through the financial application. Thus, in addition to Bitcoin, it is also possible to purchase Ethereum from R$ 1.00 on the platform. In addition, these cryptocurrencies are known for the wide variation of values ​​in the same day.

Therefore, Bitcoin purchases are registered on the Blockchain, a system responsible for tracking, sending and receiving information about transactions with the virtual currency, available on the internet. Thus, all purchases made on Nubank are safe and are registered on the Blockchain.

What are Bitcoin taxes?

In summary, anyone who acquires cryptocurrencies in amounts above R$ 5 thousand must declare it in the Income Tax. In this way, cryptocurrencies must be declared as an asset, just like a house or car. Thus, profits from sales of digital currencies that exceed BRL 35,000 are subject to capital gain tax, so they must be paid in the month following the sale of the crypto asset.

In addition, to carry out the Income Tax declaration, the Federal Revenue has developed a group of codes for cryptocurrencies (08-Cryptoactive), allowing the taxpayer to inform which currency they have.

Cryptocurrency codes

01 – Bitcoin (BTC);

02 – Alternative cryptocurrencies, the altcoins: Ether (ETH), Binance Coin (BNB), XRP (Ripple), Bitcoin Cash (BCH), Litecoin (LTC), Cardano (ADA), Solana (SOL), Dogecoin (DOGE), between others;

03 – Stablecoins, such as Tether (USDT), Brazilian Digital Token (BRZ), USDC, Binance dollar (BUSD), TrueUSD (TUSD), DAI, Paxos Gold (PAXG), Gemini dollar (GUSD), among others;

10 – NFTs (Non-Fungible Tokens);

99 – Cryptoassets not included in other codes, such as: Fan Tokens, Precatório Tokens, Consortium Tokens, Carbon Credit Tokens, receivables, among others.

How to buy cryptocurrencies on Nubank?

Therefore, the service is now available to all Nubank customers. For users who have not yet had access to the functionality, it is worth updating the application. Check out how to buy cryptocurrencies through Nubank:

  • Access the Nubank app (available for Android and iOS);
  • Click on “Crypto”;
  • Choosing between Bitcoin and Ether;
  • Read the Terms and Conditions and accept;
  • Enter the password;
  • Fill in the amount you want to invest;
  • Check the amount of cryptos;
  • Confirm the purchase;
  • Enter the password again and you’re done!

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Image: Diego Thomazini / shutterstock.com

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