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Learn More about buying XLM in Belgium
How to buy Stellar in Belgium
Is XLM a good investment in Belgium?
Like other cryptocurrencies, it’s hard to know if investing in XLM is profitable because it’s not predictable. However, some facts and data can help you analyze the performance of a token on the market. First, we can take a look at the history of XLM and its price in the past. XLM released in 2014 with the price of 0.002 USD. After a year, it reached 0.005 USD, which is almost twice its initial price. It means that if you had invested 1000 USD on buying Stellar or XLM, you could have 2500 USD after a year. Therefore, it would have been a profitable investment for one year. Additionally, the experts in this field believe that the coin might reach 10$ by 2030. This means it might be a valuable long-term investment.
Meanwhile, you should also know that like other cryptocurrencies, investing in XLM is risky too because any incident or news about this company or even other coins may affect the price of XLM. However, since Stellar is a practical network with fast and low-wage transactions, it is predictable that more and more people will start using this platform and its coin. The more this network grows, the more valuable it will get. Therefore, it’s more likely for it to be a successful investment than a failure. Furthermore, you don’t need to mine XLM like other coins; there are an exact number of this token out there that you can buy or sell.
What is Stellar ?
To learn more about XLM, we should take a deeper look at the Stellar network. Stellar is an open-source and decentralized network for digital currency that was created in 2014. Its process is so similar to ripple (XRP). While Ripple focuses on providing a solution for transfers between banks globally, Stellar aims to facilitate payments between people around the world. But the working method of both is almost the same. Stellar is a fast and cheap network, every transaction on this network is done in 6 seconds and will have a low fee of 0.0001 USD.
Is Stellar legal to buy in Belgium
Yes. According to the press release by Belgium’s Financial Services and Markets Authority (FSMA) and the National Bank of Belgium (NBB), and the definition of virtual money offered by FSMA, cryptocurrencies are popular digital investments that can be traded and sometimes can be used as means of payments but since they are not recognized as legal tender, they are not widely accepted like money. According to the mentioned press release, FMA and NBB state that crypto currencies can be bought and sold like assets and stock.
Is Stellar taxed in Belgium
Yes. According to the Belgian Tax Code cryptocurrency gains are either subject to professional income tax (in accordance to Article 23 of Income Tax Code) or miscellaneous income (Article 90, 1° of Income Tax Code).
According to the Article 23 of above-mentioned Income Tax Code, if a person's professional occupation is trading cryptocurrencies, the profits generated from this occupation will be taxed as professional income, and will therefore be subject to the progressive tax rates that range between 25 and 50 percent in Belgium.
According to the Article 90, 1° of above-mentioned Income Tax Code, if a Belgian individual earns gains on cryptocurrency transactions not as a professional activity, they will benefit from a tax exemption on those gains, but only on condition that the transaction is realized within the boundaries of the normal management of their private wealth. According to the same Article 90, 1° of Income Tax Code, if an individual makes transactions in a very short timeframe by repeatedly selling at a high point and buying at a low point, they will be accounted as a trader. The trader is not engaged professionally, but these types of transactions will fall outside the normal management of private assets and are accounted as speculative capital gains and will be taxed at a flat rate of 33%.
After you've bought Stellar in Belgium
Lumen (XLM) is the money in your e-wallet. Any transaction you can do using physical money, can be done using XLM. Lumen is your asset; you can save it in your wallet and sell it whenever its price rises, or use it to buy different things. Even some people use this crypto as a payment of dollars or euros. For example, if you have to transfer money to your friend in Europe, you can use XLM instead of Euro. However, both of you should have the e-wallet that supports this token to be able to do this transaction. Stellar doesn’t have an official wallet, people can use different wallets from exchanges that accept this coin.
After buying XLM, if you want to hold it as an investment, it’s better to keep an eye on the rate of this crypto to trade it at the best time. If you want to use it, you need to check the projects or companies that accept this coin to see how you can spend it online.
Who can buy Stellar in Belgium
Anyone. Owning cryptocurrency is possible in Belgium by the assistance of different cryptocurrency exchanges. You can use several payment services accessible in Belgium in order to buy, trade, sell and manage your crypto assets. Such services include Apple pay, Google pay, Credit Card, Debit Card, Bank Transfer and PayPal. But note that for you to be able to use these services, your chosen exchange must offer payment through these services. Our exchange provides fast and secure transactions by the mentioned services and is free of charge for crypto transactions in Belgium.
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Frequently asked questions
If you want to keep XLM as an investment, you need to know that XLM can be a good long-term investment. It is not recommended to think about a short-term profit while buying this coin.
No. According to the European Court of Justice, in case C-264/14, virtual money is considered currency, which means, according to article 44, §3, 9° of the VAT Code, the purchase or sale of a cryptocurrency is VAT exempt.
In Belgium, the Federal Public Service of Finance offers conciliation service, through which they will examine your assets in accordance with federal tax authorities’ perspective. This helps to avoid a long and costly procedure, with an uncertain outcome, since this is a free and official service.
No, the minimum amount of Stellar XLM you should have in your account is 1 XLM. You can’t activate any wallet without 1 XLM.
It is estimated that 1.98% of Belgium's population, which is about 230,693 people, own some form of crypto assets in their possession
Different analysts have predicted the future of XLM up to 2030. They have positive opinions about the future of this coin. Some even believe that the price of XLM will reach $10 by 2030.