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How to buy Enjin Coin in Italy
Is ENJ a good investment in Italy?
Enjin is an IT company in Singapore that was founded in 2009. This company is one of the biggest gaming platforms. Enjin helps more than 20 million gamers create communities around their favorite games. Enjin Coin is a blockchain-based cryptocurrency designed to facilitate contracts in the video game industry. This platform is built on the Ethereum blockchain by Enjin. This video game community and platform enables the development and exchange of digital goods. The forum is broadly aimed at the decentralized video game industry and has been able to engage a lot with founders who are looking to get seriously involved in the video game industry. The Enjin ecosystem acts like a software through which users can develop and expand virtual products on the Ethereum network. Moreover, users can create digital assets for themselves and transfer it to other apps or games. These assets are even customizable. This ecosystem has a native cryptocurrency so that users can employ this token in order to use platform services. The name of this token is Enjin Coin (ENJ).
What is Enjin Coin ?
The abbreviation symbol of a digital currency is the symbol by which the cryptocurrency is traded in the digital currency market. The abbreviation of Enjin Coin is ENJ, you can easily search this coin by typing this symbol in the cryptocurrency search bar on any exchange.
Is Enjin Coin legal to buy in Italy
There is no doubt that Italy is grossing in the global economic field by expanding its horizons on digital investment. However, the laws and regulations regarding cryptocurrencies are not fully developed yet. According to the public authority responsible for regulating the Italian financial markets (CONSOB), the ownership and trading of cryptocurrencies are not considered illegal in Italy. But you should keep in mind that there are no definite regulations about taxation. While crypto-assets do not have a specific regulatory status in Italy, the only Italian laws and regulations that provide a definition applicable to them are those concerning anti-money laundering regulations. It is estimated that 2.3% of the Italian population, which is approximately 1.3 million people, own crypto assets in Italy.
Is Enjin Coin taxed in Italy
The Italian Tax Administration, also known as Agenzia Delle Entrate, is still developing official tax guidance on the topic of cryptocurrency taxation. However, two resolutions issued by Agenzia Entrate in the past are currently being used to form the basis for how cryptocurrencies are taxed in Italy.
According to Resolution no. 72 /E/2016, profits from trading cryptocurrencies are not considered taxable income due to the lack of speculative nature. However, in Resolution no. 788/2021 it is mentioned that if the person’s total wallet or account balance exceeds €51,645.69 for a minimum of seven consecutive days during the tax year, the profits from selling, exchanging, or disposing of cryptocurrencies are taxed as capital gains at a flat rate of 26%. This is good news for all Italian crypto investors considering you are not paying taxes on your profits as long as your total portfolio value does not exceed €51,645.69 for seven or more consecutive days.
After you've bought Enjin Coin in Italy
Generating blockchain assets with ENJ token has various benefits for creators and users, including: injecting a store of value into assets, ensuring transparency and scarcity, providing instant liquidity, application in games and apps, and anti-inflation. Enjin Coin allows users to manage and store virtual gaming products such as character accessories or in-game currencies. Users can also earn ENJ tokens by selling their NFTs. Enjin Coin is used as a currency to buy, sell and trade non-equivalent tokens. This currency is also used to create, manage and destroy in-game items. Developers can issue custom tokens, unique items, or reward tokens powered by Enjin Coin.
Who can buy Enjin Coin in Italy
The requirements for anyone to buy cryptocurrency in Italy are a mobile phone to verify identity using two-factor authentication (2FA), a bank account or credit card to make fiat currency deposits to purchase cryptocurrencies and crypto wallet to store the assets. Our exchange authorizes fast and secure transactions through different means such as Apple pay, Google pay, Credit Card, Debit Card, Bank Transfer and PayPal. In conclusion, it is possible for almost everyone to enter the world of crypto assets and our website provides a safe and secure beginner-friendly experience.
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Frequently asked questions
The Enjin project has provided developers with the ability to build and manage virtual products on the Ethereum blockchain. The purpose of this platform is to manage items in games. Enjin has achieved this goal by reducing transaction fees, overcoming duplication and copying of content, and eliminating fraud. Millions of transactions are done monthly in the marketplace of this platform and by providing real ownership of virtual products to their holders, it has brought users a seamless experience of working with ENJ digital currency. In both the cryptocurrency and NFT industries, Enjin is a pioneering project. Enjin Coin is a cryptocurrency with a smart and promising future. It can dominate the cryptocurrency market as it rides the crypto wave, giving it a long reign as a form of payment.
Your crypto taxes should be reported in your personal tax return where you also report ordinary income from employment. According to Agenzia Entrate, a tax return must be submitted every year, by the following deadlines: 30 September and 30 November of the year following the tax year.
First, calculate your capital gains and income for all transactions during the tax year. Then, report your crypto taxes in your personal tax return before the deadline in the following year. You must file your tax form online via the dedicated website of Italy’s tax office. If you have further questions about how to file your taxes, we recommend contacting Agenzia Entrate or a tax advisor in Italy directly.
Enjin Coin can be purchased for less than a dollar. In this situation, the minimum purchase quantity that your exchange permits will likely determine the minimum amount of Enjin Coin you can purchase. In our exchange, the smallest payments start at $10.
As a general rule, you should keep records of the following details for each transaction as a minimum: the date of the transaction, the cryptocurrencies involved in the transaction, the type of transaction, how much was bought, sold, or exchanged, the value of the cryptocurrency in euro at the time of the transaction, exchange records and other similar cases.
The Enjin team has developed their own wallet in order to ensure user security. Enjin Wallet is a digital currency wallet with high security and simple user interface, developed for the safe keeping of your Enjin Coin assets. Enjin Wallet uses two layers of encryption to protect users' data and a safe keyboard. In this wallet, special codes are considered to prevent the penetration of hackers through the breach of processors with ARM architecture. Therefore, ORU's security team did not find any loopholes in this wallet that could allow hackers to steal users' private keys and assets. Furthermore, Enjin Wallet supports Samsung Blockchain Keystore under Samsung's Knox military-grade security system to protect private keys.