How to Sell Crypto in Finland in 2022

Crypto Regulations in Finland

Finland is among the global leaders in crypto adoption, having settled on regulating crypto through Finland’s Financial Supervisory Authority (FIN-FSA). A country with clear crypto regulations is typically a welcoming one when it comes to crypto investment, signaling that the government accepts crypto as an asset and is willing to work with the community.

FIN-FSA expects that service providers register their firms to ensure transparent, secure, and convenient services for crypto investors. It’s important to know that as a crypto investor in Finland, you will be subject to 30-34% capital income tax deductions. If you undergo any losses, you are exempted from the same amount while filing your income tax return.

Where to Sell Crypto in Finland

As a crypto enthusiast in Finland, there will come a time when you will probably need to sell your crypto. You got to evaluate the options you got on the table. The following are the most favorable places to sell crypto in Finland:

• Crypto Exchanges: Exchanges have been in the picture for a long time now, mostly a few years after the inception of bitcoin. Depending on your needs, exchanges have different properties and a variety of aspects to offer. You have an option between centralized exchanges and decentralized ones.
• OTC Brokers: Brokers are parties who manage crypto assets for users and perform all trading activity in their stead.
• Crypto ATMs: Crypto ATMs make the work easier for those who need fast cash and have no time to deal with exchanges and the rest. However, one significant downside to using crypto ATMs is higher fees standing above 7% of your total transactions.
• P2P Exchanges: P2P exchanges are a decentralized and anonymous path where crypto traders communicate and transact directly.

How to Sell a Large Amount of Crypto

Recently, Finland had plans to sell 1981 bitcoins seized from illegal activities within the country. The country’s law enforcement authority is now taking time to review the best cryptocurrency exchange services, as going with the wrong provider could result in millions worth of lost funds due to slippage and other selling costs.

How then do you follow in the footsteps of your country as an investor? It goes without saying that selling a vast amount of crypto is a delicate endeavor requiring a professional level of care. How do you go about this without risking a significant portion of your investment? Here are directions to follow to avoid an unnecessarily tedious venture:

• The safety of your investment is the first thing you should work on. Always consider using cold storage instead of online wallets, which are more vulnerable to attacks.
• Have a clear target and expectations during and after the sale of your assets; you know best what you can offer and what you cannot spare.
• You need to meet all the legal requirements expected for the crypto sale, including banking arrangements, KYC/AML procedures, and taxes.
• Be careful with your final choice of where to sell your crypto to avoid scammers and financial risk within the crypto space; focus on research to weigh your options.

How to Choose the Best Way to Sell Crypto

Assuming that you have followed all the above-stated pointers, how do you settle for your best option? There are factors surrounding crypto exchange that you should put into consideration, including:

• Security: You need the safest way to dispense your large investment above all else. Make sure you go with the best security features available in the market.
• User interface: If you struggle getting around the features or processes of a platform, avoid it. After all, you do not wish to undergo a stressful trade.
• Withdrawal limits: How soon and how much do you need to get from the trade you are making? Settle for an option that does not inconvenience you.
• Fees: Whether it is a deposit, withdrawal, conversion, or trading, you need to think about how much you will spend on the fees.
• Legal status: You do not want to be on the wrong side of Finland’s law enforcement. So, ensure that everything you do is per all the regulations put in place to govern crypto trade.
• Trading features: Are you a beginner, an intermediate, or a pro trader? What trading features do you need in your ultimate choice of selling crypto?
• Privacy: Do you want total anonymity, or are you okay with releasing a few documents? This point will eventually sway your decision depending on what you would rather go with.

Other points to stress are speed, currencies offered, deposit options, withdrawal options, etc. It would be best to do a thorough search for the most suitable pathway for you and your goals.