Buy Enjin Coin
in Austria

Enjin is an IT company in Singapore that was founded in 2009. This company is one of the biggest gaming platforms. Enjin helps more than 20 million gamers create communities around their favorite games. Enjin Coin is a blockchain-based cryptocurrency designed to facilitate contracts in the video game industry. This platform is built on the Ethereum blockchain by Enjin. This video game community and platform enables the development and exchange of digital goods. The forum is broadly aimed at the decentralized video game industry and has been able to engage a lot with founders who are looking to get seriously involved in the video game industry. The Enjin ecosystem acts like a software through which users can develop and expand virtual products on the Ethereum network. Moreover, users can create digital assets for themselves and transfer it to other apps or games. These assets are even customizable. This ecosystem has a native cryptocurrency so that users can employ this token in order to use platform services. The name of this token is Enjin Coin (ENJ).

The abbreviation symbol of a digital currency is the symbol by which the cryptocurrency is traded in the digital currency market. The abbreviation of Enjin Coin is ENJ, you can easily search this coin by typing this symbol in the cryptocurrency search bar on any exchange.

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.

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.

Generating blockchain assets with ENJ token has various benefits for creators and users, including: injecting a store of value into assets, ensuring transparency and scarcity, providing instant liquidity, application in games and apps, and anti-inflation. Enjin Coin allows users to manage and store virtual gaming products such as character accessories or in-game currencies. Users can also earn ENJ tokens by selling their NFTs. Enjin Coin is used as a currency to buy, sell and trade non-equivalent tokens. This currency is also used to create, manage and destroy in-game items. Developers can issue custom tokens, unique items, or reward tokens powered by Enjin Coin.

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.