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Learn More about buying FTM in Ireland
How to buy Fantom in Ireland
Is FTM a good investment in Ireland?
FTM (Fantom) is a cryptocurrency that was first introduced in 2018. The price of Fantom in the ICO was $ 0.04 and the token sale ended on June 17, 2018. Since then, FTM's value has risen 11.88 times compared to the US Dollar, increased by a factor of 3.61 when compared to Ethereum, and gone up 3.26 times versus Bitcoin. FTM's price was initially listed on various cryptocurrency exchanges in late 2018 at a price of around $0.03. Over the next year, FTM's price remained relatively stable and only saw slight fluctuations. In 2020, FTM's price started to gain traction as more people became aware of the project's innovative technology and growing partnerships. By the end of the year, FTM's price had increased to around $0.18, a six-fold increase from its initial price. In early 2021, FTM's price continued to soar as demand for the token increased. At its peak in April 2021, FTM's price had reached an all-time high of $0.66. Therefore, Fantom's best year was 2021, when the price of FTM rose 13,172.55% from $0.016957 to $2.25. The average annual growth of Fantom over the past 6 years has been 2,630.02%. In the year 2022, the whole crypto market was experiencing difficulties. Even the biggest and most popular cryptocurrencies were dropping dramatically but again, by the start of 2023, the prices are showing positive rises eventually. Many experts have predicted a good future for the FTM token as they forecasted the price would hit the $6.40 mark by 2025. Please keep in mind that this is not meant to be taken as a buying signal. It is recommended for you to research information on the crypto market and receive professional advice from the market experts before attempting to invest in FTM cryptocurrency.
What is Fantom ?
Fantom is a smart contract platform based on directed acyclic graph (DAG) technology that provides developers with decentralized financial services (DeFi). By using its proprietary consensus algorithm, Fantom aims to solve problems related to smart contract platforms, especially transaction speed. According to the Fantom developers, they have been able to reduce the transaction time to less than two seconds. The Fantom Foundation, which oversees the launch of Fantom products, was established in 2018, and the launch of the platform's main network, Opera, dates back to December 2019.
As an open source, customizable and scalable platform that is developed to overcome the limitations of previous generation blockchain networks, Fantom’s main goal is to build a better and more efficient future and to create an infrastructure in order to help people improve their quality of life through the latest developments in the world of technology. Fantom is part of the digital revolution, with its influence on all aspects of life, including: the adoption of digital assets on a global scale, digital economy and payments, as well as digital identity and medical records.
Is Fantom legal to buy in Ireland
Yes. According to a press release by the Director of Financial Regulation which was published
by the Central Bank of Ireland, blockchain and cryptographic technology have the potential to
bring significant benefits to the economy and to the users of financial services, since
cryptocurrency is being deployed in different situations and for various purposes such as
supporting smart contracts, engaging in payment services, investment activities or, as is often
the case, speculation.
Is Fantom taxed in Ireland
Yes. According to the Irish Tax and Customs Agency (Revenue), if an Irish resident sells a
crypto asset and gains profit from it, any gain would be treated as capital gain and could be
subject to capital gains tax (currently 33%). According to the above-mentioned document, if an
Irish individual was carrying on a ‘trade’ of dealing in cryptocurrency, any profit on the selling of
crypto assets would be subject to income tax, the income tax rates can be up to 55% (including
universal social charge and social insurance). According to the above-mentioned Irish Tax
Agency reference, a trade in crypto-assets would be similar in nature to a trade in shares,
securities, or other assets. Where a person makes a trading profit or loss on crypto-asset
transactions this must be reflected in their accounts and will be taxable in accordance with
normal Income Tax rules.
After you've bought Fantom in Ireland
By using your FTM (Fantom) crypto tokens, you can engage in the following activities: You can have transactions done: FTM is used as a medium of trade for goods and services within the Fantom network. You can use it in Staking: FTM can be staked so that you can participate in the network’s consensus mechanism and earn rewards. Governance: you as an FTM holder, can participate in the governance of the network by voting on protocol upgrades and other important decisions. Dapps: FTM can be used as a means of exchange within decentralized applications built on the Fantom network so the future of FTM owners is bright in regards to the wide-spread usage of Dapp technology.
Who can buy Fantom in Ireland
Anyone. You are able to easily perform cryptocurrency transactions such as buying, selling,
holding and managing by the help of cryptocurrency exchanges in Ireland. There are also a
varying range of payment services available in Ireland for your cryptocurrency purchase
including: Apple pay, Google pay, Credit Card, Debit Card, Bank Transfer and PayPal which are
highly convenient and secure if your exchange allows these means. Our exchange presents
safe and fast cryptocurrency transactions by such service and is one of the cheapest exchanges
out there to buy cryptocurrency in Ireland, as we charge zero fees for all cryptocurrency
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Frequently asked questions
There are several reasons that make FTM tokens valuable. These factors are: Utility: FTM tokens are used as a means of payment within the ecosystem, to access products and services. Demand: As the usage and adoption of the platform increases, demand for FTM tokens also increases, leading to an increase in value. Scarcity: FTM tokens have a limited supply, making them scarce, which can drive up their value. Governance: FTM tokens give holders the right to participate in the platform's decision-making processes, such as proposals for protocol upgrades and new feature developments. Network effects: As more users and developers join the platform, the value of the network grows, driving up the value of FTM tokens.
Certain types of activity are more likely to be in the nature of an investment rather than a trade.
The Irish Tax and Customs Agency has released a document in conjunction with section 21 of
the Taxes Consolidation Act, which in detail explains what constitutes trading in Ireland.
Yes. According to the Irish Tax and Customs Agency, purchasing cryptocurrency will generally
not arise taxable events.
For the purpose of buying Fantom tokens, there is no set minimum price officially. The minimum order amount to purchase FTM on our exchange is $10. There are as well numerous payment methods available for your consideration.
According to RTE, the national Irish news service, 18% of Irish people currently own or have
previously owned cryptocurrency.
Get a safe and reliable wallet if you want to store your FTM tokens a bit more securely. The Fantom Wallet, which can be accessed via their website, would be the ideal substitute. As far as the Fantom ecosystem is concerned, the organization promotes the wallet as the most secure and reliable way to keep your FTM. These types of wallets can be downloaded on your computer, tablet, or phone. In addition, our exchange also provides a secure digital wallet with added features and convenient access to a variety of trading options and payment methods, which will make your trading experience easier.