While Bank of Ireland does not support direct crypto transactions or provide digital asset custody solutions, its customers can still access crypto markets by transferring EUR to regulated exchanges. A popular option is Bitcoin Purchase Ireland, which offers a wide range of crypto assets for trading as well as more traditional financial instruments like stocks and ETFs. eToro’s transparent fee structure and various deposit methods make it a convenient choice for Bank of Ireland clients looking to invest in crypto.
Bitcoin Purchase in Ireland: A Complete Beginner’s Guide
Whether you’re buying or selling, it’s important to understand how tax works when investing in crypto. In Ireland, cryptocurrency is subject to both income and capital gains taxes, depending on how you dispose of your coins. To learn more, read our guide to cryptocurrency taxes in Ireland.
Stablecoins are designed to track the price of fiat currencies, making them more stable than traditional cryptocurrencies. However, they’re still taxable as a normal cryptocurrency when disposed of, so you’ll need to consider the fair market value in EUR on the date of disposal. If this is over your personal exemption amount, you’ll need to pay capital gains tax at 33%.
To simplify your crypto tax calculations, use a cryptocurrency tax calculator like Koinly. You can select your tax residence (Ireland), base currency (EUR) and cost basis method, then let Koinly crunch the numbers for you!