The stock market has historically been one of the simplest ways to grow savings over the long term. Cryptocurrencies promise more, with far more risk. Here is how to get started methodically, and what changed in Belgium with the 10% capital gains tax in force since 1 January 2026.
Before investing: the three prerequisites
- No expensive debt: paying off a 12% loan pays more reliably than any investment.
- An emergency fund of three to six months of expenses, in a savings account.
- A long horizon: money invested in stocks should not be needed for at least five to ten years.
If any of these is missing, go back to the starter guide.
Stocks: owning a piece of a company
A share is a part of a company. You earn in two ways: dividends, a share of profits paid to shareholders, and capital gains if the price rises. Over the long term, stocks have historically returned more than savings and bonds, at the cost of sometimes brutal falls: −30 to −50% in major crises.
Individual stocks or ETFs?
| Individual stocks | ETFs (exchange-traded index funds) | |
|---|---|---|
| Principle | You choose each company | A single security tracking an index of hundreds or thousands of companies |
| Diversification | You build it yourself | Immediate |
| Time needed | A lot: analysis, monitoring | Little |
| Annual fees | None, apart from brokerage | Often 0.1 to 0.3% a year |
| For whom | Investors who like analysis | Most beginners |
A low-cost ‘world’ ETF, topped up every month by a scheduled order, without checking prices daily. Investing a fixed amount each month smooths your entry points and avoids looking for ‘the right moment’.
Crypto: an asset apart
Cryptocurrencies are digital assets whose value rests not on profits or rents but on adoption and trust. Bitcoin, the oldest, is often compared to digital gold. Thousands of other tokens exist, the vast majority of which have lost almost all their value.
- Extreme volatility: falls of 70 to 80% have happened several times, including for bitcoin.
- Platform risk: several large platforms have gone bankrupt with their customers' money. Since 1 July 2026, every crypto provider operating in the European Union must be authorised under the MiCA regulation: check it in the ESMA register.
- Custody risk: if you hold your crypto yourself, losing your recovery phrase means losing your funds. Never share it with anyone.
Only put into crypto an amount whose total loss would not change your life. For many investors, that is a small part of their wealth, a few per cent. And be wary of any platform promising a fixed return: see financial scams.
Some platforms offer to pay interest on your crypto. Before giving in, read our analysis of crypto yields with Nexo: where the yield comes from and what is not guaranteed.
Belgian taxation in 2026
The new 10% capital gains tax
The law, published in the Belgian Official Gazette on 21 April 2026, has applied since 1 January 2026 to gains realised on financial assets.
- Rate: 10% for normal management of private wealth.
- Exemption: €10,000 of gains per taxpayer per year (indexed). If you do not use it, you can carry forward €1,000 a year for up to five years, up to €15,000.
- Assets covered: listed and unlisted shares, bonds, funds and ETFs, derivatives, crypto-assets, some gold investments and some investment insurance products.
- The past is protected: for assets held before 2026, the value on 31 December 2025 serves as the starting point. You can prove a higher historical purchase price until 31 December 2030.
- Excluded: savings and term accounts, second- and third-pillar pension savings.
Transactions deemed speculative are still taxed at 33%, and trading of a professional nature can be taxed at progressive rates of up to 50%.
Other taxes to know about
- The 30% withholding tax on dividends and interest, with a small annual exemption on dividends to be reclaimed through your tax return.
- The stock exchange tax (TOB) on every purchase and sale. With a foreign broker, you often have to declare and pay it yourself.
- Foreign accounts, including some crypto platform accounts, must be declared to the National Bank's Central Point of Contact.
Since 2026, the European DAC8 directive also requires crypto providers to pass their clients' data to tax authorities.
In Europe and around the world
- Across the European Union, the MiCA regulation has governed crypto providers since 2024, with a transition period that ended on 1 July 2026.
- Taxation varies widely: France applies a flat tax on capital gains; Germany exempts individuals' crypto gains after one year of holding; Switzerland generally does not tax private capital gains but levies a wealth tax; the United Kingdom taxes gains above a small annual allowance.
- In the United States, spot bitcoin ETFs have been authorised since January 2024, opening crypto to ordinary brokerage accounts.
If you do not live in Belgium, check your own country's rules before investing.
A five-step starter plan
- Open a brokerage account with an authorised broker, comparing fees.
- Choose one or two broadly diversified ETFs.
- Schedule an automatic monthly investment.
- If you wish, allocate a small share to crypto, on a MiCA-authorised platform.
- Keep a record of your purchases and sales: you will need it to declare your capital gains.
To find out how much to invest each month to reach your goal, use the financial freedom calculator. The other big pillar of step 5 is rental property.
Where to find these services
- Bolero (KBC)Belgian online broker
- Keytrade BankBelgian bank and online broker
- DEGIROLow-cost European online broker
- SaxoInternational online broker
- CoinbaseMiCA-authorised crypto platform (Luxembourg)
- KrakenMiCA-authorised crypto platform (Ireland)
- BitvavoMiCA-authorised crypto platform (Netherlands)
- ESMA MiCA registerTo check that a crypto platform is authorised in the EU
Links provided for information, with no partnership. Always check a provider's terms and authorisation before committing.
Test yourself
4 questions to check what you remember. Click an answer: the explanation appears straight away.
Question 1 of 4What is the main advantage of an ETF for a beginner?
A single security tracks a whole index; market risk remains.
Question 2 of 4What share of crypto does the prudence rule recommend?
Falls of 70 to 80% have already happened, even for bitcoin.
Question 3 of 4You realise €12,000 of capital gains in 2026, with a €10,000 exemption. How much tax?
€12,000 − €10,000 = €2,000 taxable, at 10%: €200.
Question 4 of 4Are gains built up before 2026 taxed in Belgium?
The past is protected; you can prove a higher historical purchase price until 31 December 2030.
Frequently asked questions
How do you start investing in the stock market with little money?
Open a brokerage account with an authorised broker and invest a small fixed amount each month in a broadly diversified ETF. Many brokers let you start with a few tens of euros.
How does Belgium's 10% capital gains tax work?
Since 1 January 2026, gains realised on shares, ETFs, bonds and crypto-assets are taxed at 10% above an annual exemption of €10,000 per taxpayer. Gains built up before 2026 are protected by the reference value on 31 December 2025.
Are crypto gains taxed in Belgium?
Yes. Since 2026, they fall under the 10% tax for normal management of private wealth, after the annual exemption. Speculative transactions are still taxed at 33% and a professional activity can be taxed at up to 50%.
What share of crypto in a portfolio?
There is no single rule, but many cautious investors limit themselves to a few per cent of their wealth, an amount whose total loss would remain bearable.
Sources
This article is educational and is not personal investment, tax or legal advice. Figures change: check them with the sources cited or a licensed professional before deciding. Read the full disclaimer.