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How to buy Matic in Germany
Is Matic a good investment in Germany?
Matic became a popular coin in 2021, which was a bad year for most cryptocurrencies, especially Bitcoin. Unlike most of the cryptocurrencies that were experiencing a decline, Matic could stay stable; and in a short time, its price increased. That’s why most people started buying Matic, and this token became one of the best tokens on the market. Matic's initial price in 2017 was $ $0.013. The fluctuations of the Matic price weren’t that much until 2021 when the price rose to $1 for the first time in its history. It recorded the highest price of $2.874 at the end of 2021 and then started to fall under $1 again. MATIC was trading for around $0.75 as of September 2022.
Investing in crypto is not possible if you can’t imagine what may happen in the future. However, it’s not clear for any of the cryptocurrencies, and no one can guarantee any predictions for its future. But analysts and crypto experts can give you hints about the future of a coin like Matic. Most experts and top investors believe that MATIC's price will increase in the long term. Therefore, they think this crypto might be a profitable long-term investment. They have expected the price of MATIC to be between $1.97 to $2.27 until 2027.
What is Polygon ?
Polygon is a cryptocurrency network that runs as a sidechain alongside Ethereum. It was launched in 2017 under the name of the Matic network. Later in February 2021, Matic was rebranded to Polygon. Now the Polygon is known as the network name, and its token is called Matic. Polygon was created by a group of Indian developers to help Ethereum expand in size, and increase its security and usefulness. Furthermore, Polygon is the home to a range of decentralized apps. People can participate in different actions on this platform, such as playing games, joining virtual worlds, creating smart contracts, and participating in various financial services. The aim of creating such a platform was to improve the speed of Ethereum-based platforms and reduce the costs of transactions on this network.
Learn more on Polygon official website.
Is Matic legal to buy in Germany?
Germany is one of the countries where not only the buying and selling of cryptocurrencies is legal, but it also recognizes exchange providers and wallets in the category of financial services companies. From the moment that virtual currencies like Bitcoin emerged in the world, the German Financial Regulatory Authority accepted that as a legal trade. Furthermore, purchasing cryptocurrency is much easier in Germany compared to most countries, because people can buy Bitcoin and other valid digital currencies via bank, credit card, debit card, and even electronic payment. That shows how popular cryptocurrency is in this country. Almost 90% of people in Germany know what cryptocurrency is, and 25% of them own at least one coin as their digital asset. Therefore, Germans won’t face any legal rules or problems while buying digital currencies
Is Matic taxed in Germany
The German Federal Central Tax Office has recognized cryptocurrencies as private money, which means it is a legal asset that is not property or foreign currency. According to taxfix, cryptocurrency is considered tax-free, but there are some conditions. The first condition is the duration of ownership. If a crypto owner holds the tokens for one year and then sells them, this trade is tax-free if the sale profit is 600 EUR. Therefore, if they sell the tokens and gain even one euro higher than 600 EUR, they should pay tax for the entire profit. The sale profit of tokens holding more than one year is tax-free. Meanwhile, if they sell the coins for less than a year (11 months) and gain profit from selling them, they should pay its tax, which is the same as the regular income tax rate of 45% plus the 5.5% Solidarity Tax.
After you've bought Matic in Germany
To keep Matic as an investment, you should choose a wallet to keep it safe and protected. Furthermore, you should always check the price. We recommend you consider an exit point for your investment to prevent losing money while investing in crypto. Moreover, investing is not the only thing you can do with MATIC. You might be able to use it in other ways, such as voting on network upgrades, creating smart contracts, trading with NFTs, buying art, or playing games. As mentioned earlier, MATIC can’t be used to buy regular products online. Until now, none of the brands and companies have accepted this coin on their website or as a payment.
Who can buy Matic in Germany?
Anyone with a valid identity and bank account can buy cryptocurrency in Germany. Many platforms and exchanges in Germany accept buying cryptocurrencies with a debit card or even Paypal. Therefore, consider which payment method you want to choose before purchasing any cryptocurrency and select the platform that accepts that method. Always choose a legal cryptocurrency exchange, such as Blocktrade, and a secure wallet to buy and keep your preferred coins.
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Frequently asked questions
MATIC coins can be used as a payment, especially in games or purchasing NFTs. Furthermore, MATIC coin owners can stake matic tokens to vote for an upgrade to the network.
As mentioned, people can purchase bitcoin from banks. However, it is not the easiest and cheapest way to buy cryptocurrency in Germany. It is better to find a valid exchange that has the lowest trade fee. We offer you the BlockTrade, which is regulated in the EU and allows you to trade with zero fees.
Owning, buying, selling, trading, or purchasing goods with any type of cryptocurrency is legal in Germany. However, there are some rules about taxes that crypto owners should know.
Many experts and crypto investors are optimistic about the future of MATIC. Although nothing will be 100% guaranteed., it is believed that MATIC can be a good long-term investment.
Trading is allowed in Germany, people can easily buy and sell cryptocurrencies in this country.
New protocols were added to the Polygon network, and more users started buying it. High-speed transactions and low transaction fees are other reasons why Polygon became popular among investors.