EOS is one of the top 50 largest cryptocurrencies by market cap. Trusted by EOSIO buyers, you can buy and trade EOSIO in Estonia and 100+ countries on Blocktrade without any fees easily.
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How to buy EOSIO in Estonia
Is EOS a good investment in Estonia?
Known as an "Ethereum killer"; EOS is one of the top 50 largest cryptocurrencies by market cap. EOS coin was released to the market in 2017 with the price of $1.52 per coin. It experienced the lowest price of $0.48 in October of the same year. Supporting smart contracts and the flexibility of this coin made it one of the top cryptocurrencies in 2018 when its price mounted to $22.89. It shows how profitable this investment was for its first year. However, it didn't last long, and the EOS price dropped to $2.15 at the end of the same year. The fluctuations in the price of crypto are normal; you can't always forecast the future based on its past. Other factors can help you analyze if it's the right time to buy EOS.
Crypto experts and analysts predict the future of a coin based on some analysis. Although this price prediction is not guaranteed, it can help you decide if EOS might have a bright future as an investment. Cryptocurrency experts believe that the EOS price may be between $19.07 to $22.91 in 2030. They also claim that EOS might be a profitable long-term investment. But in the short-term, it might be risky. However, no one can tell you if your investment is %100 profitable. It’s better to read more about the history of EOS, how you can use it and what top investors tell you about this coin. Furthermore, if you are a beginner, it’s better to have an exit point for your investment; so if the price of EOS dropped to that number, you sell it to prevent losing your money.
What is EOSIO ?
Although many know this blockchain by the name of EOS, the real name of the blockchain is EOSIO, which was designed by Block.one company. EOSIO is a decentralized blockchain network released in 2017. Its system is very similar to Ethereum, but faster, more flexible, and free of charge. These features made EIOSIO more popular than Ethereum, especially the speed of this network, which allows thousands of transactions per second (tps); compared to the 15 tps of the Ethereum system, EOSIO is really a winner. There are other benefits that the EOISIO system has that make it one of the top decentralized blockchains, including being user-friendly and supporting smart contracts and voting, which are predicted to become so useful in the near future.
Check out more information on EOS official website.
Is EOSIO legal to buy in Estonia?
Estonia was among the first countries that legalized cryptocurrency and related economic activities. It was in November 2017 when a law was introduced that accepted cryptocurrency as a payment method to keep up with the development of technology. Therefore, activities such as mining, crypto investment, adding cryptocurrency to a company balance sheet, and even establishing a cryptocurrency exchange or wallet are allowed in this country.
Is EOSIO taxed in Estonia
According to the Estonia Tax and Customs Board, cryptocurrency trading contains taxes in Estonia. People who buy cryptocurrency should pay tax in case of trading, converting to fiat, or paying the crypto to purchase something. They should declare all the transactions they have with cryptocurrency because the income from mining or trading any crypto is considered the business income of a person, which is included in the tax rules in Estonia.
The tax report should be declared once a year in March. Generally, if you keep the cryptocurrency as an investment and don’t do anything to it, you won’t need to pay taxes. For example, if you have kept the coins in a wallet for the whole year, you won’t need to mention it in your tax report. Only the profit you gain from selling or trading crypto is taxed. However, if you sell crypto at a lower price than you bought, you won’t need to pay tax for it. Only the profits from selling crypto are reported. Therefore, even if cryptocurrency assets are not tangible assets like a car or a house, that doesn’t bother tax authorities. The tax rate is 20% in Estonia.
After you've bought EOSIO in Estonia
Most people buy coins to keep as an investment. In case you want to buy EOS to sell in the future, you should always keep an eye on the EOS price. Read whitepapers and check the EOS website to know which projects they are working on and what updates they may have on their platform in the future. It’s also recommended to read EOS price predictions to analyze if the future is bright for this coin.
Apart from keeping EOS coins as an investment, there are other ways to use this token. You can trade it with other coins or use it as a payment. However, the seller should accept this coin on its transactions. Thus, if you want to use this coin to purchase something, make sure that it is accepted by the company or brand you are buying the products from. One of the uses of this token is to create decentralized apps. This token can be used in online games to purchase or trade different tools too. EOS also supports smart contracts, which means people can create coded contracts on the EOS platform or use its coin as a payment for that contract.
Who can buy EOSIO in Estonia?
Anyone can buy cryptocurrency in Estonia. Since cryptocurrency is taxed in Estonia, buying it requires you to prepare a couple of things including a passport or a national ID, a mobile phone to verify your identity, a bank account to make fiat currency deposits, and a crypto wallet to store your assets. However, that may depend on the exchange you use. Exchanges in Estonia ask you to verify your identity and address as part of the Know Your Customer (KYC) process. You can buy cryptocurrency anonymously too, but you should use other exchanges that might not be as user-friendly or secure as the ones that have been verified legally.
One secure and user-friendly way to buy cryptocurrency in Estonia is via Blocktrade exchange. This exchange doesn’t have any trading fees, and you can find a wide range of cryptocurrencies to buy here. You only need to sign up on the website, verify your account, and then start buying coins.
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Frequently asked questions
That depends on the reason you are buying EOS. If you want to keep it as an investment, check top analysts’ and crypto experts’ predictions of EOS. If you want to use it as a digital asset, check what projects and brands accept this coin.
Cryptocurrency exchanges have different fees; you need to check different Estonian crypto exchanges to find the one with the lowest fee. Blocktrade exchange is available in Estonia and doesn’t have any fee.
It is legal to buy cryptocurrency in Estonia. However, you should keep in mind that the profit you may get from any cryptocurrency will be taxed at the end of the year.
Analysts have predicted price growth for both the EOS and Cardano in the future. They are performing very close to each other as an investment. They both accept smart contracts and have the same usage. However, Cardano is a bigger network and the fifth largest cryptocurrency by market cap. Therefore, it may be one step ahead of EOS.
Since trading and exchanging cryptocurrency is allowed in Estonia, if you have any tokens, you can sell without any problem.
One of the points that EOS has among most of the decentralized blockchain networks is that all the transactions on this platform are free of charge.