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How to buy Maker in Greece
Is MKR a good investment in Greece?
Maker coin (MKR) was created in 2015 but officially released to the market in January 2017 with a price of $22.10. It didn’t have many fluctuations until August of the same year when it suddenly reached $288 and continued to grow until it ended the year with a price of $959. That was a surprisingly profitable investment for someone in only one year. The first months of 2018 were even better for Maker owners because its price mounted up to $1,369.99, which was again a record for this token. But it didn’t last long, and the MKR price dropped and ended the year at $449. 2019 and 2020 passed with almost stable prices between $500-$700. MKR again surprised the market in 2021 and reached its highest price of $4,341 in April. For the second time, Maker showed its holders that it could be a profitable investment if they have more tolerance.
The price of Maker coin was shocking all these years and always seemed to be a good investment. But it doesn’t mean it will be a %100 good investment in the future. If you want to invest in this token, MKR price predictions may be helpful, especially for beginners. But you should still read more about its news and experts' opinions the moment you decide to purchase this coin. Crypto analysts and experts expect MKR price to reach $6,000 by 2025. They believe its price could rise to $40,000 in the next ten years. Therefore, they think buying Maker tokens might be a good investment. However, predictions are just predictions, and the future might not be exactly the same as these expectations.
What is Maker ?
Maker is an open-source Ethereum-based blockchain created in August 2015. It is known as one of the most popular and oldest Ethereum-based platforms available. The Maker project is known as MakerDAO, which is an open-source project whose operation is based on the Decentralized Independent Organization (DAO) system. A DAO is considered an organization that is defined based on clear and codified rules, the control of this organization is in the hands of its members. Maker was created as a lending platform. People can use Ether as collateral in a smart contract called Collateralized Debt Position (CDP) to create DAI stable coin through MakerDAO.
Learn more on MakerDAO official website.
Is Maker 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 Maker 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 Maker in Greece
Maker coin (MKR) is mostly used as a governance token. MKR holders can propose upgrades to the system, leverage collateral assets, create smart contracts, or simply use their coins as payment for purchasing something online or inside games. DAI coins can be used in the same manner, but since their price is stable, it is not considered an option for investment. However, MKR can still be used as an investment because its price changes over time. People who want to keep this digital asset as an investment should check different factors, from its history to MKR price predictions; there are many things you need to consider while buying Maker coins as an investment.
Who can buy Maker 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 Maker coins have experienced many ups and downs during its history, but most of the time it was considered a good investment. Most experts and analysts also predict a bright future for this token.
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.
Almost 100 exchanges support MKR tokens. Since they may have different fees, check their information and find the right exchange. We can suggest you the Blocktrade exchange which doesn’t contain any trading fee.
It is estimated that 8.6% of the citizens in Greece have some form of cryptocurrency in their possession.
The MakerDAO protocol was founded by Rune Christensen. After being introduced to Bitcoin in 2011, Christensen sold his business and invested in Bitcoin, then became interested in stablecoins and eventually founded MakerDAO.