Selling Bitcoin Privately: What Tax Applies in Austria

Selling Bitcoin Privately: What Tax Applies to Direct Sales in Austria

Bitcoin does not have to be sold through a crypto exchange. Buyer and seller can also agree directly and move the coins from one private wallet to another.

For tax purposes in Austria, however, that generally makes no difference. Anyone who disposes of bitcoin for euros or another legal currency generally realises a taxable event, regardless of whether a crypto exchange sits in between.

The Gain Is Taxed, Not the Sale Price

What matters is the difference between the sale proceeds and the acquisition cost for tax purposes.

Example:

• bitcoin bought for 15,000 euros
• later sold directly to a private buyer for 30,000 euros
• taxable gain: 15,000 euros

For bitcoin acquired after February 28, 2021, the special tax rate of 27.5 percent generally applies. In the example, that would generally come to 4,125 euros in tax.

Cash Changes Nothing About the Bitcoin Tax

Payment in cash does not make the transaction tax-free either.

Whether the buyer:

• transfers euros,
• hands over cash,
• pays in another legal currency,

generally makes no difference to the fact that bitcoin has been disposed of for fiat money. A swap for goods or services can likewise constitute a taxable realisation event.

How a Private Sale Differs From Selling on an Austrian Exchange

The decisive practical difference lies in the tax deduction. Where a domestic crypto service provider is involved, the tax is in many cases withheld automatically as capital gains tax and paid over to the tax office. In a direct private sale, by contrast, there is regularly no party obliged to withhold it.

The seller therefore has to:

• determine the sale proceeds,
• establish the acquisition cost,
• calculate the gain,
• account for the taxable income in the assessment.

Worked Example: Tax on a Private Bitcoin Sale in Austria

Written Proof Matters Especially Here

Private bitcoin sales should be documented in detail.

The following are particularly worth recording:

• date of the sale
• BTC amount
• agreed euro price
• proof of payment
• transaction ID
• sender and recipient address
• original acquisition cost
• any fees

Where payment is made in cash, a written receipt should be drawn up as well. Years later the blockchain will still show that the bitcoin was transferred, but not automatically which purchase price was agreed and actually paid.

What Happens When You Swap Bitcoin for Other Cryptocurrencies?

A direct private sale has to be distinguished from a swap into another cryptocurrency. Swapping bitcoin for another cryptocurrency that qualifies for tax purposes is generally not a taxable disposal in Austria. The existing acquisition cost carries over to the cryptocurrency received instead. Bitcoin for euros and bitcoin for ether can therefore have completely different tax consequences.

Legacy Holdings Can Still Be Free of Bitcoin Tax

Bitcoin acquired up to and including February 28, 2021 generally counts as a legacy holding and does not automatically fall under the current crypto tax regime. For legacy holdings held privately, a sale can generally be tax-free under the earlier rules once the speculation period that applied back then has expired. Anyone selling old bitcoin privately in 2026 should therefore document the original date of acquisition with particular care.

Selling Bitcoin to Friends Counts as a Sale Too

Whether buyer and seller are related or friends is generally not decisive for the question of a disposal for consideration. Anyone who sells bitcoin to a friend at the market price has made a sale.

Where bitcoin is genuinely transferred without consideration, it is a gift. The Austrian rules on reporting gifts can then become relevant in place of the taxation of a sale.

Documentation deserves particular care where bitcoin is transferred well below its market value. Depending on how the transfer is arranged, it can be partly for consideration and partly without.

Conclusion

For tax purposes in Austria, a direct bitcoin sale between private individuals generally has to be taken just as seriously as a sale through a crypto exchange. For bitcoin acquired after February 28, 2021, a realised capital gain is generally taxed at 27.5 percent.

The key difference: in a private sale there is regularly no Austrian crypto service provider that handles the capital gains tax deduction automatically. The seller therefore has to document the taxable gain and, where applicable, declare it through the income tax assessment.

(As of August 28, 2026. This article is not investment advice. Prices and fee structures change; check the terms with the provider before you buy.)