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FAQ

Here you will find answers to the most common questions about taxes, residency, working with cryptocurrency, banking procedures and our services. We have collected key information to help you navigate quickly and find the solutions you need.

Here are the most frequently asked questions

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Is withdrawing cryptocurrency in the EU legal?

In most European Union countries, cryptocurrency operations are completely legal if:

  • you declare your profit from selling or exchanging crypto;
  • you use official channels — bank accounts, licensed exchanges, or payment providers.

In the EU, crypto is regulated by MiCA (Markets in Crypto-Assets Regulation) — a unified framework that came into force in 2024–2025.

👉 Withdrawal is possible through:

  • Binance, Kraken, Coinbase, Bitstamp;
  • crypto-fintech apps such as Revolut, N26, Wirex, Plisio;
  • P2P platforms, if both the counterparty and the source of funds are verified.

⚠️ Important: when withdrawing to a bank account, you must provide proof of funds (for example, an exchange report) — EU banks are required to verify the source of money.

How to transfer money from Ukraine to the EU through cryptocurrency?

This is one of the most popular ways in 2025 — especially because of currency restrictions in Ukraine.

🔹 Step-by-step:

  1. Buy cryptocurrency (USDT, BTC, ETH) on a Ukrainian exchange or via P2P.
  2. Transfer it to an exchange registered in the EU (Binance, Kraken, etc.).
  3. Sell the crypto for EUR.
  4. Withdraw funds to your European bank account.

💡 Choose exchanges with a European license and SEPA support — Binance, Kraken, Bitstamp.

⚠️ For large amounts (> €10,000), the bank may request proof of funds — provide screenshots of purchase, transfer, and sale.

What taxes does a crypto investor pay?

Each EU country has its own rules, but overall:

Operation type How it is taxed
Selling crypto at a profit Capital gains tax
Receiving income (staking, mining, airdrop) Income tax
Transfers between your own wallets 🚫 Not taxed

📊 Example tax rates (2025):

  • 🇩🇪 Germany — if you hold crypto for more than 1 year, tax = 0%.
  • 🇵🇱 Poland — around 19% on profits.
  • 🇪🇸 Spain — 19–26% depending on the amount.
  • 🇫🇷 France — fixed 30% (including social contribution).

💡 Tip: keep a full history of your transactions — EU exchanges are required to report client income to tax authorities.

How to open a bank account in Europe?

For Ukrainians, this is possible even without a residence permit, especially in Central and Eastern Europe.

🔹 Minimum required documents:

  • Passport (domestic or international);
  • Proof of address (rental agreement, utility bill, registration);
  • Sometimes — a tax number (NIF, PESEL, TIN).

🔹 Easiest countries to open an account:

  • 🇵🇱 Poland — PKO, mBank, Pekao, Santander;
  • 🇩🇪 Germany — N26, Commerzbank, DKB (remotely via video identification);
  • 🇪🇸 Spain — Sabadell, CaixaBank (available for non-residents).

💡 Fintech alternatives: Revolut, Wise, Monese, Paysera — opened online in 10–15 minutes and accept SEPA transfers from crypto exchanges.

How to avoid double taxation?

Ukraine and most EU countries have signed double taxation avoidance agreements. This means you pay tax only in one country — the one where you are a tax resident (usually where you live more than 183 days per year).

🔹 How to act correctly:

  1. Determine your tax residency (where you live most of the year).
  2. Submit your tax declaration in that country.
  3. If income was already taxed elsewhere, that tax can be credited.

💡 Example: if you live in France but sold crypto on a Ukrainian exchange, you declare income in France — Ukraine cannot tax it a second time.