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How to buy Decentraland in Austria
Is MANA a good investment in Austria?
Decentraland is a decentralized metaverse (virtual world). This metaverse operates on the platform of the Ethereum blockchain and was created to support the creation, development, hosting and sale of virtual property. Virtual worlds that provide this feature, lead users to a fascinating digital world where they can buy, sell, and build anything they can think of. Decentraland also provides its users with the possibility to purchase virtual property. Users of this metaverse can develop their property as an online and virtual business and a source of income. They can create different buildings and attractions in their virtual land and earn money through them. In addition, users also get good profits by selling their built properties.
Decentraland platform is supported by MANA which is an ERC-20 token that serves as the system's primary currency. Members of the Decentraland community can purchase virtual parcels of the VR platform with MANA. The entire virtual reality ecosystem, which has no central authority, is run and governed by users of Decentraland. The world serves as an alternative VR ecosystem where users can buy and sell virtual goods and real estate, play games, and do whatever they want with their land as long as the network's features permit it. Users are able to interact, manage, monetize, and develop the Decentraland metaverse, which simulates reality in a virtual setting.
What is Decentraland ?
MANA is the symbol and the main in-game currency of Decentraland. It is an ERC-20 token that lets users purchase, trade or develop virtual lands in a decentralized manner.
Is Decentraland legal to buy in Austria
In Austria, cryptocurrency is accepted as an intangible asset. According to Global Legal Insight website, there is no specific regulation against buying or trading crypto in this country. Therefore, it is considered legal. However, the country’s financial authorities announced in 2020 that it has set a fine of up to 200,000 Euro for individuals or businesses related to cryptocurrency who don’t follow anti-money-laundry laws. By 2022, almost 2% of Austrians had at least one cryptocurrency as their digital assets. They also have stated in the digital currency laws in Austria that these cryptocurrencies are not considered a means of payment or supported by this body. Businesses related to digital currencies must obtain a license from the financial organization.
Is Decentraland taxed in Austria
According to the Federal Ministry, Republic of Austria Finance, dgital currencies are exempt from value-added tax (VAT). But, if these cryptocurrencies are used as a payment method or in exchange for a product, they will be taxed and dealt with according to the laws of payment instruments.
Crypto tax laws were reformed on March 1, 2022. Previously, crypto owners in Austria only had to pay income tax on short-term crypto gains. This means that if they sold, spent or traded the cryptocurrency in less than a year, they would have to pay income tax. But if they kept this digital currency for more than a year, even if they made a profit by selling it, they would not pay any tax. New laws changed this situation. From now on, all crypto transactions will be subject to a 27.5% tax rate, whether the crypto owner sells it for less than a year or holds it for a long time. However, the new rules only apply to coins purchased after February 28, 2021. Any digital currency purchased before this date will be operated with the previous rules.
After you've bought Decentraland in Austria
Decentraland (MANA) token holders are important members of the Decentraland platform; Because they are known as part of the network governance (DAO) in each region. Using MANA tokens, they can vote on issues affecting these regions. The total amount of mana tokens held by each member determines the weight of his vote.
MANA tokens are the power behind this platform. In fact, everything on this platform gets its power and value from this token. In addition to its governance use in this game, MANA can also be used to buy LAND or any number of other virtual assets and services in Decentraland.
Who can buy Decentraland in Austria
Everyone can buy cryptocurrency in Austria. However, people need to have a valid identity and bank account while buying cryptocurrency on any exchange. They will be authenticated, then they can start buying coins. Although people can buy cryptocurrency anonymously, it is not recommended to people, especially beginners because it is not a secure way of buying cryptocurrency, and people will be more prone to be hacked or losing their assets. If you want to buy cryptocurrency in Austria, sign up on Blocktrade and select the coin you want to buy. It is a safe and cheap way of purchasing cryptocurrency in Austria.
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Frequently asked questions
What ensures the survival and future of digital currencies is a strong development team, functional services and an attractive platform to attract users. Fortunately, Decentraland (MANA) has all these features. In 2021, Metaverse was one of the hottest topics in the cryptocurrency world. The future of MANA currency mostly depends on how long people are interested in the metaverse. According to Mark Zuckerberg the CEO of Meta, the future is going to be all about the Metaverse market and we are still at the beginning point. Most experts believe that if Decentraland can maintain its appeal to users with timely and correct updates, it has a bright future and buying it at its current price might be a profitable and reasonable investment.
Lots of exchanges are available in Austria that support lots of cryptocurrencies. You can easily find the right platform for buying your preferred coin. Blocktrade is one of the best exchanges regulated in the EU. You can find several coins on this exchange and trade with zero fees.
There is no rule against buying, investing in, selling or even mining cryptocurrency in Austria.
You can purchase Decentraland (MANA) for less than a dollar. Therefore, the least amount of Decentraland (MANA) that you can likely purchase is dependent upon the minimum purchase offered by your exchange. Our exchange allows a minimum of $10.
It is allowed to buy and sell cryptocurrency in Austria, but you need to know that this country has strict rules against money laundering. Therefore, check the rules to prevent any fines regarding selling crypto.You can sell your coins on the BlockTrade exchange easily and quickly.
As an ERC-20 token, Decentraland (MANA) can be safely stored in any Ethereum compatible wallet. It is usually recommended to use a Metamask wallet to connect to the Decentraland platform. To use personal wallets, be sure to back up your wallet so that you can restore your assets in case of any software or device issues.