I have for a while now, been thinking about creating a store that accept $HIVE, $HBD and a set of hive-engibe tokens. I have actually already tested such setup. Just one question:
How is regulations in your country for taking crypto as a payment option?
You could sell anything. Dropshipping is hard because you need to find an item that is cool and is cheap to source.
I Austria regulations are clear you gotta put aside 20% VAT exception if it is B2B within the EU borders but from one country to another. Also you gotta pay income tax on the profit you make. If you only use HBD as a payment settlement you do not have to worry about price fluctuations.
As selling crypto is a taxable act you need to declare the time of purchase or in this case time of receiving the payment. If you hold HIVE and it goes up say 20% you have to pay an extra 27,5% on the profit you made with holding the asset and selling at a higher price. Similarly they would tax 27,5% on the HBD interest you make if you put it into savings...
I prefer dropshipping as I wouldn't need own warehouse and could pay as I sell for the items instead of paying for 1000 items and risking only selling 4.
I don't live in Europe, but I've heard that it's increasingly difficult to purchase there - or to be paid - without a bank account. So, in your situation, I would sell for Hive related tokens goods or services to bankless citizens (here in El Salvador, 70% of the people are bankless - myself included, of course 😊).
Here in Denmark I think everyone has a bank account. I haven't met one who doesn't, but your idea is great! Services that people might not want their banks to know about.
100%! Their banks, and in an apparently near future, the State. The European Central Bank has announced they'll impose a CBDC in the member States economies, hence having total control on what the citizens spend, at what time, for what amount, etc.
How is regulations in your country for taking crypto as a payment option?
You could sell anything. Dropshipping is hard because you need to find an item that is cool and is cheap to source.
Honestly I haven't been giving that much thought. There are probably some extreme regulations for it, but the idea of it is just so appealing.
I Austria regulations are clear you gotta put aside 20% VAT exception if it is B2B within the EU borders but from one country to another. Also you gotta pay income tax on the profit you make. If you only use HBD as a payment settlement you do not have to worry about price fluctuations.
As selling crypto is a taxable act you need to declare the time of purchase or in this case time of receiving the payment. If you hold HIVE and it goes up say 20% you have to pay an extra 27,5% on the profit you made with holding the asset and selling at a higher price. Similarly they would tax 27,5% on the HBD interest you make if you put it into savings...
I prefer dropshipping as I wouldn't need own warehouse and could pay as I sell for the items instead of paying for 1000 items and risking only selling 4.
I don't live in Europe, but I've heard that it's increasingly difficult to purchase there - or to be paid - without a bank account. So, in your situation, I would sell for Hive related tokens goods or services to bankless citizens (here in El Salvador, 70% of the people are bankless - myself included, of course 😊).
Here in Denmark I think everyone has a bank account. I haven't met one who doesn't, but your idea is great! Services that people might not want their banks to know about.
100%! Their banks, and in an apparently near future, the State. The European Central Bank has announced they'll impose a CBDC in the member States economies, hence having total control on what the citizens spend, at what time, for what amount, etc.
What to sell? t-shirts, mugs, or even handmade crafts
That is already possible through hivelist
Oh!? I had no idea
Have a look, it's pretty good 👍🏻
HODL.