Bitcoin in Belarus. Buying and selling bitcoins for Belarusian rubles. Bitcoin - a difficult situation in Russia

Bitcoins in Belarus have become a legal currency since December 22, 2017, when President A. G. Lukashenko approved a decree creating optimal conditions for the development of the blockchain network and cryptocurrency in particular. The state takes on the functions of a regulator in this area, including the issue of mining and circulation of virtual money. What are the subtleties of the innovation? How to buy Bitcoin in Belarus? What can you spend virtual money on? We will discuss these and other questions in the article.

Legalization of Bitcoin in Belarus - subtleties

The signing of the decree “On the development of the digital economy” was a truly historical event. The legalization of cryptocurrency makes Belarus the first state to open up great opportunities for the use of blockchain technology.

Essence and goals

The innovation implies the absence of prohibitions on the purchase, sale or exchange of virtual money. In addition, the operation of cryptocurrency exchange platforms is not prohibited, and Bitcoin mining is not a business activity. This means that the income received does not need to be declared. The government allows cryptocurrency mining until 2023, after which it plans to introduce taxation on this type of profit. In addition, according to the new decree, virtual coins can be used as an object for inheritance.

The purpose of the innovation is to attract new investments to the country and make the Belarusian market interesting for IT companies. It is planned that such structures will eventually fill the country and will create new products of interest to the whole world.

Another goal is to develop the economy through the introduction of new digital tools. The President of the Republic of Belarus is confident that the legalization of virtual currency makes Belarus attractive to large investors, and over time the country can become a regional center of competence in the field of blockchain and related technologies.

Thanks to innovations, Park high technology got the following options:

1. Providing services for the extraction and placement of virtual money, including promotion and solving related problems.
2. Operation of virtual money exchange services and cryptocurrency exchange platforms.
3. Other work related to the use of coins. This includes areas related to exchange activities, investing, and conducting operations to create and place newly created virtual coins.
4. Preparing teams for eSports tournaments. This includes work related to the preparation of participants, solving organizational issues, as well as broadcasting competitions.
5. Development of neural and other technologies in special departments.

Consequences of innovation

Experts are confident that the official legalization of virtual money in the Republic of Belarus will lead to a number of consequences for neighboring countries. In particular, bills to regulate the cryptocurrency market in the Russian Federation are planned to be temporarily “frozen.” Parliamentarians in Russia will try to study the experience of the neighboring country, and only after that make decisions regarding the future of virtual currencies. At the same time, the Russian government considers not only the experience of the Republic of Belarus, but also the practice of other countries. Attention is paid to the Japanese and Swiss cryptocurrency markets.

How to buy Bitcoins in Belarus - options

Exchange

A popular way to buy cryptocurrency, which is also available in the Republic of Belarus, is to use services (for example, Yobit or EXMO). Such services allow you not only to exchange virtual money, but also to make money on the difference in rates (if you have special knowledge). For clarity, graphs with the exchange rate price of virtual currencies are offered, which provides information about the cost of money online and helps make purchasing decisions.

When choosing an exchange platform, you should give preference to international services, for example, which was mentioned above. This is an accessible and reliable exchange where you can quickly and safely purchase Bitcoins. Before exchanging, you should do the following:

1. Understand the features of the service. For beginners, the most important concept is quotation. In our case, we are interested in the Bitcoin (BTC)/Russian ruble (RUB) pair. There is no direct purchase for the Belarusian currency yet, so the money entered into the account must be converted into one of the available monetary units, and then buy Bitcoin. Another tool is a price movement chart, which allows you to see changes in the Bitcoin rate over different time periods.
2. Complete registration. To get started, you need to register and then log in to the EXMO cryptocurrency exchange. Immediately after logging in, a wallet is created that can be used inside the site.

1. We deposit money into the site account in dollars, rubles, euros or other currencies. This can be done in different ways, including through WebMoney or Yandex.Money. If you only have on hand Belarusian rubles, they will have to be converted first, and only then listed on the exchange.
2. Select the direction for exchange (for example, BTC/RUB). This means that Bitcoins will be purchased for Russian rubles.
3. Go to the “Exchange” section (for novice users). The “Trading” section is more suitable for participants who make money on the difference in rates of virtual currencies and understand this issue.
4. We decide on the direction of exchange, and then indicate the number of rubles for exchange. The system automatically displays how many Bitcoins will be purchased for this amount.
5. We confirm the operation.
6. We go to the wallet and make sure that Bitcoin has appeared on the account. All that remains is to withdraw your cryptocurrencies to your Bitcoin wallet.

Exchange offices

If you are interested in the question of how to easily and quickly buy Bitcoin through an EPS wallet or other methods, you should pay attention to exchangers. In the CIS countries there are many services with the possibility of conversion, which can also be used by residents of Belarus. There are no complicated terms here, and the exchange process takes no more than 2–3 minutes. The exchange rate changes throughout the day, but within insignificant limits. Despite the legalization of Bitcoin in Belarus, there are still no exchangers with the ability to exchange Belarusian rubles for Bitcoins. The operation can only be carried out through preliminary currency conversion.

To buy Bitcoin in the Republic of Belarus through an exchanger, you need to do the following:

Another option is direct cooperation with other individuals who are ready to sell cryptocurrency. Using this method, you can buy Bitcoin in Belarus using a card, cash or EPS. The search for a transaction partner is done through special forums or websites (for example, Localbitcoins.com). The last option is more preferable, because you can find a seller from Belarus and check his reputation.

The purpose of the Localbitcoins.com service is to perform intermediary functions. It does not guarantee the success of the operation, but it offers an internal protection mechanism that allows you to carry out a transaction with less risk (the name of the escrow system). The method of transferring money depends on the agreement between the parties. For example, a buyer can transfer Belarusian rubles to the seller’s card, after which Bitcoins are credited to the cryptocurrency wallet.

Thanks to a direct agreement, you can avoid commission payments and negotiate convenient way transfer of money. In addition, unlike other options, here it is possible to directly exchange Belarusian currency for Bitcoin. Reverse side“medals” - the risk of running into a fraudster who will receive the agreed amount but will not transfer the money, as well as an unfavorable exchange rate for direct conversion. To reduce risks, it is important to work only with trusted private traders who have a high rating and a positive reputation.

Purchase via WebMoney

The WebMoney system has been operating in the territory of the Republic of Belarus for a long time and has an internal cryptocurrency Bitcoin (WMX). Essentially, this is the equivalent of 0.001 BTC. The guarantor of WebMoney in Belarus is Technobank, so the activities of the payment system are completely legal.

To buy for Belarusian rubles, you need to take the following steps:

1. Register in the WebMoney system.
2. We create an electronic wallet in national currency (WMB).
3. We top up the account with Belarusian rubles.
4. Change WMB to WMX.
5. We exchange the received funds for Bitcoins through a Bitcoin wallet.

Buying futures

In December 2017, another way to buy Bitcoin was added - through (CME and CBOE). This option is more suitable for investors who do not need cryptocurrency itself, but consider it as a tool for savings. You cannot directly buy futures on the mentioned exchanges - for this there are brokerage companies that act as intermediaries. If you want to purchase a contract for Bitcoin, you need to select a broker, register, deposit money into your account, and then make purchases and sell futures, making money on the difference in rates. To make a profit in this way, you need to know the principle of operation of exchange platforms and the essence of futures contracts.

Intermediary services

After the legalization of Bitcoin in Belarus, special services appeared (for example, bitok.by), offering services for buying/selling Bitcoin in different ways - through a bank card or WebMoney, as well as using cash. The client selects the appropriate option, then submits an application and agrees on the time of the transaction. In fact, this is one of the options for direct exchange with the difference that the counterparty is a service specially created for this purpose. The benefits and risks are similar here.

What can you buy with Bitcoins in Belarus?

1. Flower shop in Minsk- stability.by. The website says that payment is made using cash, by card and using any electronic money(including Bitcoin).
2. geoteplo.by- Nova Gros company, specializing in building engineering systems.
3. fasttech.com- online store household appliances and other goods, which has a representative office in Belarus.
4. lorenzo.by- online store of kitchen sets.

To purchase bitcoin in Belarus, you will need to leave a request for home page site.
Creating an application

The application must include the following information.

When paying online, all payment information will be provided automatically in the application you create. For a cash transaction, we will contact you using the contact information you left to discuss the details of the transaction.

We accept applications from 10-20 Minsk time.

2. Ways to buy Bitcoin and other cryptocurrencies in Belarus

Let's talk about each method in more detail.

1. Buying Bitcoin with cash

This method is the most popular and convenient for residents of large cities. All you need to do is submit an application in advance and agree on the date, time and location of the transaction.
Our courier will arrive at the appointed place and top up your Bitcoin account in front of you.

2. Bank payment

We accept bank payments from all CIS and EU countries. To purchase Btcoin through a bank, you will need to transfer funds to our account. After submitting an application for purchase, we will notify you of the amount and details for the transfer. The agreed terms are valid for 24 hours from the moment of their approval. That is, if you submitted an application to purchase 1 BTC today at 12:00, you must pay for the order no later than 12:00 the next day. Otherwise, the payment may be rejected by us upon receipt. Once you have made the payment, you can provide a photo/printout of the funds transfer receipt. From now on, we reserve funds for you. As soon as your transfer is credited to our account, we will transfer the funds to the account you specified.
*Commission for bank transfer paid by the client

3. ERIP

The ERIP payment system is very popular in Belarus and we could not help but include it in the list possible ways payment. If you have an online bank or kiosk nearby, this is an ideal way to purchase cryptocurrency. On our website there is detailed instructions how to buy bitcoin through ERIP

For clients with bank accounts in European Union countries, it is possible to purchase cryptocurrencies for EUR transfer via payment system SEPA. This payment is a regular bank transfer and is completely similar to the purchase process from a bank payment via SWIFT, described in paragraph 2. Key Difference in the speed of transactions and the low cost of this operation.

5. Visa/MasterCard

To pay via Visa and Mastercard, you can use your online bank, ERIP, or online services and TUT.by When working with cards, you will need to undergo simple identification due to the increased risks of such operations.

3. Bitcoin deposit

And so, you have paid for the application and we are ready to transfer you bitcoins.

First, you create a wallet in Bitcoin and tell us its address. Wallet address example 32GWgJsnKwdS7tphdeKbkfFQgShnHNAtqz
If you are not familiar with the Bitcoin system and plan to use these funds as a user with the function of receiving and sending, then the best option is to open an account in the Blockchain.info system. This method will not require specific knowledge from you, and will also allow you to use the system as a PC and smartphone. Your wallet will always be with you. If the account has already been created, you give us the wallet address and we replenish it with the agreed amount. If the Bitcoin network is busy (lots of transactions taking place), then confirmation of the funds transfer chain may take several hours. Often the transfer is confirmed within an hour. You see the translation itself immediately after it is sent. If you have any questions, we will be happy to help you figure it out.

Officially, only in 2017, the first company in Belarus provided its customers with the opportunity to buy goods for bitcoins. In fact, according to the Coinmap map, there are many more places where you can pay with bitcoins. For cryptocurrency you can already purchase several types of goods and services and even order roof cleaning. If you're looking for where to spend your Bitcoin, check out our list.

What can you buy with bitcoins in Belarus?

Exchange

Cafe

Hookah bar “Altair” (Brest, Masherova Avenue 96/1) Cafe Mezzanin (Molodechno, Prititsky St. 21)

Services

• Altop Media LLC – Ready-made websites and online stores on 1C-Bitrix. Development and promotion services
• LLC "Production Enterprise "Steel Technologies" - Gates, cabins, screw piles and other metal structures
• OOO "RegulEnergoStroy" – Production of electrical panel equipment, low-voltage switchgear, design, supply of electrical products, electrical installation work
• ODO "Mobil Auto Help Company" – Issue of discount and bonus plastic cards
• Roof Cleaning Discount when paying with bitcoins (Brest region, Glinyanki, Tsentralnaya str. 64)
• BELBURSTROY – Construction company(Grodno, Zbozova str. 21)
• Bestbuilding – Construction and repair (Brest region). Email:

What is Bitcoin?

The most popular and well-known cryptocurrency is Bitcoin. Cryptocurrency is a type of digital currency. The term cryptocurrency has been assigned to Bitcoin in 2011 after the publication of an article about Bitcoin in Forbes magazine. This system is decentralized, and currency is issued through mining and forging. The most common method is the so-called Bitcoin mining. The procedure is that Bitcoin is mined using the available computing power of your computer. That’s why they are now buying up quite powerful video cards for computers in order to mine cryptocurrency, including Bitcoin.

Bitcoin and legislation

At the moment, the concept of cryptocurrency (digital currency) is not in the legislation. Back in early 2014, the Deputy Chairman of the Board of the National Bank of Belarus said that Bitcoin has no legal basis for its use in the territory of the Republic of Belarus. The government warns that the use of cryptocurrency carries increased risks for individuals using this digital currency. Previously, the Ministry of Internal Affairs recommended refraining from transactions with bitcoins as individuals, and legal. The main thing that confuses the authorities is the lack of regulation at the legislative level in this area.

Why is Bitcoin not covered by our legislation?

Our legal experts are faced with a problem: how best to identify Bitcoin. If you look at our legislation, then legally there is no definition that covers the concept of cryptocurrency, which means that Bitcoin cannot be defined. Article 141 of the Civil Code defines what money is. money means the Belarusian ruble, which is legal tender, and foreign currency. Next, let us turn to the concept of foreign currency. In accordance with paragraph 4 of Article 1 of the Law “On Currency Regulation and Currency Control,” foreign currency means banknotes in the form of banknotes, treasury notes, coins, as well as funds in bank accounts in foreign currency units. It turns out that cryptocurrency does not fall under these concepts given in the legislation.

Exists similarity cryptocurrency and electronic money:

• The very fact of existence on the Internet
• Electronic money must be denominated in Belarusian rubles or foreign currency
• Possibility to pay for goods (services).

Main difference electronic money from cryptocurrency-el. money is issued by a bank accredited in the country, in accordance with the legislation of the Republic of Belarus, but cryptocurrency is not

Is it possible to use cryptocurrency as a means of payment?

In general, yes, it is possible, but there are a number of peculiarities. It is necessary to introduce the concept of cryptocurrency at the legislative level. Then establish the legal status. People will gradually get used to this species means of payment. The peculiarity is that there is no body in the country that is the issuer of this currency or somehow controls it. In addition, as we know, Bitcoin is growing (falling) by incredible steps in comparison with any currency or security. For example, in some countries of the European Union, Bitcoin and other cryptocurrencies are already used as a means of payment. China has introduced a ban on the use of legal bitcoins in circulation. persons, but individuals do not have this prohibition.

Taxes and cryptocurrency in the Republic of Belarus

Since this currency does not belong to cash and does not exist in kind, in accordance with the legislation of the Republic of Belarus, then the issue of cryptocurrency and transactions with it (crediting to one’s e-wallet) are not subject to taxation. This is because only income is subject to income tax. It is known from civil norms that income is an economic benefit expressed in cash or in kind. It turns out that when you mine Bitcoin you do not fall within the legal framework. It follows that income tax will be subject to income tax when you exchange Bitcoin for money or property.

The future of cryptocurrency in Belarus

Hooray! It's finished!

It became known that the draft decree “On the development of the digital economy” signed by the President of the Republic of Belarus.

This decree allows a lot to be done with cryptocurrencies: individuals are allowed to own, mine (mine), buy, sell, exchange for Belarusian rubles and foreign currency. It is also possible to give and bequeath digital currency. There is even an exchange for electronic money. Here the state provides ample opportunities for the development of cryptocurrency, which is good news.

Very important information!

In accordance with the decree, all transactions with cryptocurrency they won't be taxed! At least until January 1, 2023 it will be this way.

The above means that soon it will be possible to pay with bitcoins everywhere and the list of organizations will be replenished. However, there are already a couple of such organizations that accept cryptocurrency as a means of payment. One of the first to start accepting it was the tire network service centers TYREPLUS.

At the end of last week, the launch of the first Belarusian cryptocurrency, the thaler, was publicly announced in Minsk. The name of the cryptocurrency was given in honor of the monetary unit that was in circulation on the territory of modern Belarus during the time of the Grand Duchy of Lithuania and the Polish-Lithuanian Commonwealth. Thaler is based on blockchain technology and a slightly improved Bitcoin algorithm (SoW), that is, it is a distributed (decentralized) cryptocurrency that does not have a single emission center and centralized control. The viability and integrity of the thaler system, transactions within the system and the issuance of new coins are ensured computer network thaler users.

The fact that Thaler was created from the very beginning as a distributed network classifies it as a so-called true cryptocurrency, that is, based on the same principles as Bitcoin, Litecoin, Ethereum and many others. And in this regard, the Thaler turned out to be the first such cryptocurrency in the post-Soviet space. Although in Russia and other countries of the former USSR there have already been attempts to issue private cryptocurrencies (the most famous is the Russian BioCoin), there has been an issue of digital tokens (digital coins) from single center, that is, their creators turned everything on themselves and conducted an ICO (placed tokens), simply calling their brainchild “cryptocurrency.” Thaler does not have a single center, and thus fully complies with the principles of a peer-to-peer monetary network.

It is known that the first transactions on the Thaler network took place on September 13. But for several weeks the network operated in closed mode. Now everyone can download the “wallet” program from it in order to use the thaler themselves, as well as start mining it on their own computers.

The announcement of the emergence of a Belarusian cryptocurrency caused a stir in the Belarusian segment of the Internet and in social networks. According to the authors of the project, they receive email many offers to “sell thalers”.

“We have to explain that we ourselves do not issue thalers, much less trade them,” explain the creators. “We have no goal at all to make a profit in this project.”

Excursion into history

In the past, the thaler was a large silver coin minted by various European monarchs from the late Middle Ages through the Renaissance. Thalers were very common in the Old World, and even the word “dollar” came from the word “thaler”.

In Russia, the thaler was well known under the name “efimok”.

• “Efimok with a sign” (countermarks of 1655 on the Brabant thaler of 1637)
• Wikimedia

Efimki, for example, are mentioned in Alexei Tolstoy’s novel “Peter I”.

In Poland, the first thaler was issued by King Sigismund I the Old in 1533 in Toruń; in the Grand Duchy of Lithuania - Sigismund II Augustus in 1547. Thalers were also minted in Tykocin and Vilna. Regular minting of thalers in the Polish-Lithuanian Commonwealth (which included Belarusian lands) was started by Stefan Batory (1576-1586). The weight of the coin was 28.5 g, the silver content was 24.3 g. The Grand Duchy of Lithuania minted a thaler - half a kopeck. The last thaler was minted in 1794 in Belarus, at the Grodno mint.

The talers of the last Polish king, Stanisław August Poniatowski (1764-1795), after the monetary reform of 1766, had the designation X EX MARCA PURA COLONIEN on the reverse, half talers, respectively, XX EX MARCA. Thus, the weight of the thaler was reduced compared to previous issues to 1/10 of the Cologne mark (28.07 g with a silver content of 23.38 g; 833rd hallmark). Thaler was equal to 8 zlotys, and was also equal to 240 copper groschen.

The last time the thaler was issued by the Grand Duchy of Warsaw was in 1814. It was minted weighing 23.9 g from 720-carat silver. The obverse depicted a portrait of King Frederick Augustus I of Saxony, appointed Grand Duke of Warsaw by Napoleon, and the denomination TALAR was minted on the reverse. The Grand Duchy of Warsaw also minted coins of 1/3 thaler and 1/6 thaler.

In 1991, after the collapse of the USSR, the word “thaler” became very popular among the nationally oriented Belarusian intelligentsia. It symbolized some ideal, “classically Belarusian” money. Many opposition activists have repeatedly proposed issuing a new Belarusian currency called “thaler”; sketches of it were even drawn.

Now the thaler is experiencing a rebirth in the form of the first Belarusian cryptocurrency.

IT strategy of Belarus

The creators of the thaler say that their brainchild is not intended to compete with the Belarusian ruble as legal tender on the territory of the republic. From their point of view, the task of the thaler is to help eliminate the shortcomings of the existing monetary system, help attract investment into the Belarusian economy and help the development of small and medium-sized businesses.

The project was approved at the launch stage by the “father of the Belarusian banking system,” the first head of the National Bank of Independent Belarus, Stanislav Bogdankevich. In his opinion, “denationalization of money, decentralization of its issue based on the latest breakthrough electronic technologies will eventually be implemented to benefit the economy, although not in the near future.”

However, economists see the future of the thaler as far from rosy, and its prospects for becoming a competitive cryptocurrency are more than vague.

“Thaler will have to do the impossible to become in demand. Firstly, to prove its advantages over all other cryptocurrencies - and whether they exist at all, these advantages,” Belarusian economist Andrei Aksyonov noted in a conversation with RT. — Secondly, to overcome the traditional and very strong conservatism of Belarusians. Try to explain to a simple collective farmer from the outback what cryptocurrency is, he will decide that you are swearing at him! And thirdly, make sure that the republic’s monetary authorities come to terms with the thaler. And they don’t need competitors to the Belarusian ruble.”

The creators of the thaler still remain anonymous. It is known that this is a group of Belarusian economists, IT specialists and journalists.

They planned to talk about themselves at a press conference on Monday, October 9. But at the last moment the press conference was postponed.

A presidential decree is currently being prepared in Belarus, the task of which is to provide maximum opportunities for the development of IT business, turn Belarus into a “center of gravity” for the world’s major IT companies, and at the same time stimulate the growth of their own.

This spring, speaking to the people and parliament, Alexander Lukashenko announced the need to turn Belarus into an “IT country.”

And this transformation should not happen out of nowhere: the High Technology Park (HTP) has been operating in Belarus for more than 10 years - a technology park where the most favorable conditions for the work of IT companies have been created, and which as a result brings colossal economic returns by the country’s standards.

• Hi-Tech Park in Minsk
• RIA Novosti

Now, as the creators of the thaler write in their comments, they have become aware that the authors of the presidential decree paid great attention to blockchain technology, extremely liberalizing developments based on it. And the press conference was postponed until the decree was signed in order to “combine our development with the new reality.”

At the same time, the Thaler system continues to operate, and more and more new users are connecting to the network. But the authors of the project have already stated that they are ready to cooperate in everything with the National Bank of the Republic of Belarus, which in recent months has been taking measures to implement blockchain technology in the country’s banking system.

• National Bank of the Republic of Belarus, Minsk
• Reuters

But while cryptocurrencies are not allowed or prohibited in Belarus, they do not have any legal status and are outside the legal field. That, however, does not prevent many people from using them.

Private money

The main idea of ​​the creators of the thaler, as they themselves designated it, was to “untie” money from the state. According to the authors of the project, the implementation of the thaler in the Belarusian economy and its widespread use will lead to the stabilization of the financial system, a reduction in inflation, the elimination of the problem of mass non-payments and cheaper loans, facilitating (and reducing the cost of) money circulation in general.

From the point of view of monetary theory, the thaler is based on the ideas of economists such as Friedrich August von Hayek and others who created the theory of “private money”. The idea of ​​the possibility of denationalizing money and eliminating the state from issuing and controlling the banking industry, first expressed by von Hayek in the book “Private Money” in 1975, eventually formed the basis of first Bitcoin, and then other cryptocurrencies.

Due to the blockchain technology underlying the thaler system, decentralization of emission is provided. Simply put, emissions are limited by complex mathematical formula, and the issuers at first are the users of the created new cryptocurrency themselves. What emerges is a semantic paradox: the Thaler is private money, since it does not belong to the state represented by the central bank, which organizes and regulates the issue, but at the same time it is public money, since it is issued by the users of this money themselves, and not by the initiators of the project.

One of the advantages of such a scheme is the impossibility of inflation. In the case of the thaler, there is no conditional government that could print and throw into the economy an arbitrary amount of unbacked money. In addition, the total issue of coins will be limited: the maximum quantity is 23,333,333 thalers.