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Learn More about buying LINK in Greece
How to buy Chainlink in Greece
Is LINK a good investment in Greece?
LINK crypto was released in 2017 with an initial price of $0.11. Its price didn’t have a salient change until mid-2019 when it finally could reach $1 per token and continued to grow and ended the year with a price of $4. 2020 was more surprising for this coin because it could mount up to $14 and become a wonderful investment for its owners. LINK could reach its highest price of $37 in February 2021. Although it might seem that LINK didn’t have a great beginning, its price suddenly surprised everyone. However, 2022 wasn’t a great year for this crypto because the LINK price dropped to $19.60 in January, and ended the year at $7.
Like many cryptocurrencies, LINK also had fluctuations. People who want to invest in this crypto would like to know if it will end up profitable. No one knows the answer to this question, but some factors can help investors decide on buying this crypto. One of them is LINK price predictions. Some crypto analysts believe that LINK price may continue to fall until 2027, but then it might increase to $70 and may continue to grow and be around $169 in the next ten years. Therefore, they expect LINK to be a good long-term investment. However, predictions are just some expectations that might not come true. It is better to check the news about this crypto, read its whitepaper, and investigate the price of the day to decide whether it is the best time to buy LINK.
What is Chainlink ?
Chainlink is a decentralized oracle network announced in 2017. It runs on the Ethereum blockchain and is used to support advanced smart contracts. Generally, smart contracts are automated agreements on blockchain. But, sometimes, they need to connect to the real world to make some processes possible. Chainlink makes this possible and acts like a bridge between blockchains and external data sources or what is known as off-chain.
Is Chainlink legal to buy in Greece
Yes. According to the Law 4734/2020 which is the basis of the applicable Greek institutional framework on preventing money laundering and terrorist financing, cryptocurrency is a digital representation of value that is not issued or guaranteed by a central bank or a public authority, is not necessarily attached to a legally established currency and does not possess a legal status of currency or money, but is accepted by natural or legal persons as a means of exchange and which can be transferred, stored and traded electronically.
Is Chainlink taxed in Greece
Yes. According to the strategic plan by the Independent Public Revenues Authority (IAPR) of Greece, the taxation of income that results from cryptocurrency transactions are accounted as income from investments. Therefore, as stated in IAPR’s declaration, the income from the cryptocurrency transactions would be taxed as capital gains tax. According to Article 42 (3) of the Greek Income Tax Code (Law 4172/2013) capital gains means the difference between the purchase price paid by the taxpayer and the sale price received. For individuals, the capital gains tax would be at a rate of 15% according to Articles 42 and 43 of the above-mentioned Greek Income Tax Code.
After you've bought Chainlink in Greece
LINK coin is mainly used on the Chainlink network as a payment fee or for voting on different processes. It can’t be used as a payment method outside this network. Therefore, it is not possible to use it as a real currency to purchase goods or transfer money. However, this might be possible in the future. You can trade or swap the LINK coins with Eth or XRP and then use it to purchase goods or even use it in gaming or other processes.
Meanwhile, most people buy a cryptocurrency for investment. In this case, the usage is not that important because you only need to keep your coins in a wallet and wait until the right time to sell. Investment needs you to be aware of the crypto market and check the coin price every day. If you are new to this world, we recommend you choose an exit point for your investment. Thus, if the price of LINK reaches that amount, you can easily sell it to get a profit. In the end, we also suggest investing as much as you can afford to lose because cryptocurrencies are volatile, and nothing is predictable in this world.
Who can buy Chainlink in Greece
In Greece, anyone can buy cryptocurrency with the help of licensed cryptocurrency exchanges. There are some easy, secure, and private ways to pay for your crypto purchase in Greece such as: Apple pay, Google pay, Credit Card, Debit Card, Bank Transfer, and PayPal. It is important that the exchange service also provides these payment methods as means of transaction when buying crypto assets in Greece. We are glad to declare that our exchange offers fast and safe access to these payment methods without charging any exchange fees for the high-standard transaction services in Greece.
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Frequently asked questions
The Chainlink network is one of the first networks that make it possible to link blockchain with off-chain or the world outside of the blockchain. Therefore, it is very useful, especially when working with advanced smart contracts. It is believed that this network and its coin will act as well in the future.
Yes. According to the Greek Income Tax Code (Law 4172/2013), the tax for natural persons would be at a rate of 15% pursuant to Articles 42 and 43 of the Greek Income Tax Code and the tax for legal persons would be applicable as corporate income tax rate according to Articles 47 and 58 of the Greek Income Tax Code.
Yes. One of the easiest ways to buy crypto assets in Greece is through cryptocurrency exchanges. There are also ATM machines in Greece through which you can purchase cryptocurrency using cash. But know that most of them require a telephone number for verification.
LINK tokens are available on most exchanges. Blocktrade is one of the exchanges that support this crypto. This exchange has the lowest trading fee and is regulated in the EU. Therefore, you can simply sign up on this exchange and buy the crypto you want.
It is estimated that 8.6% of the citizens in Greece have some form of cryptocurrency in their possession.
Sergey Nazarov, a Russian entrepreneur is the founder of Chainlin and Steve Ellis is the CTO at this company. The headquarters of Chainlink is in the Cayman Islands.