Buy Ripple
in Denmark

One thing you should check to find out if XRP is a good investment is checking its value over the years. In August of 2013, the first year after its release, each XRP was sold at 0.01 USD. Later in December 2017, it reached its highest price of 2.28 USD per unit. It shows the price of XRP rose more than 70,000 percent in only five years. Therefore, it was a great investment for people who bought even the minimum amount of this cryptocurrency. However, XRP had many ups and downs until it reached 0.42 USD in October 2022. Some investors believe that XRP may reach 100 USD per unit in the next 10 years, which is not impossible! The more the banks and financial institutions accept XRP in their transactions, the higher its price will get. 

*Remember, the world of cryptocurrencies is so volatile, the price of a coin changes each day. Nothing is 100% guaranteed in this world. However, most of the analysts recommend thinking  about a long-term investment while buying XRP. But you should still know that you are stepping into a risky world. As the price history shows, XRP had many ups and downs that shows the volatility of the cryptocurrency world. One day you may win and one incident in the world may affect the price of crypto and make you lose your investment. It is better to define an exit point for yourself. If the price of XRP went lower than that amount, sell your tokens.

XRP – also known as Ripple- is a cryptocurrency built on a global payments network called Ripple. In fact, Ripple is the company that was created as a replacement for SWIFT (a leading money transfer network). It is designed to provide a secure and decentralized communication and payment network for financial institutions around the world. As a company, Ripple is a trusted agent that can facilitate transactions between two parties. It is located in San Francisco, USA, and makes decentralized financial products for banks and financial institutions.

Yes. According to the amendment to the Danish AML Act (Directive 2018/843/EU), it is legal to
buy and sell cryptocurrencies; however, each transaction must be determined as financial
services, assets in investment, or as a form of payment. This ensures that the use of
cryptocurrency is under Danish laws to prevent cases of money laundering and untaxed
alternative investment funds.

Yes. According to The Danish Customs and Tax Administration (Skatteforvaltningen), profits
from selling or otherwise disposing of cryptocurrency attract income tax rather than capital gains
tax for Danish individuals. As mentioned by the above mentioned document, you are required to
pay income tax only if your intention with buying cryptocurrencies is to gain a profit when you
sell the coins later. The Danish Customs and Tax Administration lets you file a request for a
specific assessment to judge whether you are considered to have bought cryptocurrencies for
speculation and therefore required to pay income tax. But note that most Danish individuals are
categorized as speculators by the Danish Tax Agency and will need to pay income tax on their
gains.

You may wonder what happens after buying XRP and how you can use it. XRP is used like any other digital currency. It means, you can use it as an investment or to buy something. You can also exchange XRP with other currencies, the process should be done on the Ripple network. Moreover, Western Union, Travala, and Red Cross are among the most popular businesses that accept XRP. You can also use Ripple (XRP) for products you want to purchase from Microsoft, Amazon and many other major businesses. Therefore, sometimes there is no difference between your money and XRP.
As mentioned, one thing you can do after buying cryptocurrency is holding it as an investment until its price rises and selling it to profit. But you should know, that’s not the only benefit you can get from buying XRP. You can use this coin to trade with other currencies, such as USD or EUR, or spend it like money to buy an online product. You should also know that like other cryptocurrencies, XRP or Ripple can be stored in a wallet. XRP ledger is one of the safest wallets for you to store this coin.

Anyone. Purchasing cryptocurrencies in Denmark with the help of exchanges is an
unchallenging experience. Moreover, our exchange offers secure, fast and cost-effective
transactions through different means such as Apple pay, Google pay, Credit Card, Debit Card,
Bank Transfer and PayPal, all supported in Denmark.