Buy Solana
in Hungary

To decide if buying solana is a good investment, first, take a look at its history. The official token of Solana, called SOL, was released in April 2020 with a price of $0.79 per coin. In only one year, its price mounted to $260 in November 2021. It was one of the most profitable investments for people who had bought this coin at its debut. However, like any other coin on the market, Solana had fluctuations too. Although it couldn’t reach higher than $260, it became stable for a while at the price of $30 in 2022. Solana had a drop to $12 in November 2022. 

Although no one can guarantee a positive future for any cryptocurrency, many experts believe that the updates on the Solana roadmap may affect its future. Analysts have predicted the future of Solana for upcoming years and believe this coin may reach $70 by the end of 2030. Most of the experts in this field also claim it is better to think about a long-term investment while buying Solana. However, you should be aware that any incident may affect the future of a coin. Therefore, if you are a beginner in this world, it’s recommended to avoid putting all your money on a coin.

Solana is the name of the blockchain created in 2017. Very soon after its release, it became one of the fastest blockchain networks with 2700 transactions per second. This feature made Solana very popular among people in the cryptocurrency world. To make the network more efficient, like the Cardano network, Solana also uses the proof-of-stake (PoS) technology, which also helps the network become more sustainable and scalable than the previous blockchains. Fast transactions, low fees, and low environmental impact are the benefits of the Solana blockchain.

According to the Finance Ministry of Hungary, investing, trading and mining cryptocurrencies are legal in Hungary. But note that a legal definition for cryptocurrencies is still developing. This means that cryptocurrencies are not an official form of legal tender yet. Legal tenders are anything recognized by law as a means to settle a public or private debt or meet a financial obligation. It is estimated that Hungarians own about 300 billion HUF (850 million EUR) worth of cryptocurrencies.

Yes. According to the new regulation of National Tax and Customs Administration (NAV), from 2022, 15% personal income tax will apply to cryptocurrencies. But note that you only need to pay taxes when you exchange your cryptocurrencies for traditional currencies such as euros. You do not have to pay tax for exchanging a cryptocurrency for another cryptocurrency. According to the new regulation mentioned above, investors can deduct their losses from their tax base. Also under the same regulation, you can have the option to deduct expenses related to trading from your tax base, such as fees of crypto exchanges. Although the new regulation will make the taxation of cryptocurrencies more transparent, Hungary still lacks detailed regulation on this topic.

Like any other coin in the cryptocurrency world, there are lots of ways you can consume your coins. You can use SOL to purchase something on the internet; nevertheless, the seller should accept your coin. Therefore, if you want to use SOL coins to buy something, check the brands and companies that support SOL. Additionally, you can trade your coins with an NFT. If you don’t want to spend your SOL tokens, you can keep them as an investment. SOL is assumed to be a great long-term investment.

Meanwhile, since the cryptocurrency world is so volatile, it’s better to consider an exit point for your investment. It can be a price that you consider the right price for selling the coin. Moreover, you should always keep an eye on the price of SOL, read its whitepapers, and check what experts and analysts say about it on their social media.

Every resident of Hungary can convert, buy, and sell cryptocurrencies with fiat. Some supported payment methods are: Bank Deposit and PayPal. Buying is pretty easy for residents of Hungary, choose our exchange, verify your ID, connect your payment method, and buy away.