Buy Ocean Protocol
in Latvia

Ocean Protocol is a decentralized data exchange platform designed to allow data providers to securely and privately share valuable data and artificial intelligence models while maintaining control over their data. It enables users to discover, access, and use data through a marketplace while ensuring data privacy, security, and compliance with data sharing agreements. Through this protocol, publishers can earn money from their data while maintaining privacy and have control, and along with this, users or data consumers will have access to a set of data that was previously unavailable or difficult to find. These datasets can be found on Market Ocean, a place to buy, use and sell them. 

The main idea of Ocean Protocol is to make data available to startups and researchers without leaving the ownership of their custodians. The Ocean platform is built with the goal of facilitating the exchange of data, and connecting users who need this data, or cannot afford to store it, with users who have data to sell. In return, data providers of the Ocean Protocol cryptocurrency are rewarded.

OCEAN is the native token of the Ocean Protocol blockchain. Crypto traders use the symbol "OCEAN" to refer to the Ocean Protocol token (OCEAN), which is commonly traded on different platforms. The symbol is used to distinguish it from other crypto assets and to make it easier for users to identify and trade the token. The symbol is standardized and is widely recognized by the cryptocurrency community, making it easier for users to trade OCEAN on different mediums.

Yes. According to the explanation of the virtual assets document by the Latvian Financial and
Capital Market Commission, a virtual asset or cryptocurrency is a digital representation of value
not issued or guaranteed by a central bank or any other public authority, that may be digitally
transmitted, stored, or traded, and that may function as a medium of exchange for payment of
goods or services with persons who mutually agree to accept the virtual currency.

Yes. According to the Latvian Income Tax Act, there are two types of income that come from
selling cryptocurrencies: 1. Capital gains and 2. Income from economic activity.
According to the above-mentioned Income Tax law, capital gain from selling crypto assets is the
difference between the purchase cost and the disposal cost of the crypto assets. If it is not
possible to determine the purchase price of virtual currency, the purchase price is considered to
be 0. As stated in Latvian Income Tax Act, income from economic activity is triggered when the
virtual currency is sold as part of an economic activity or it is generated or received as payment
for goods, services or an occupation. In this case, economic activity must be registered and
personal income tax must be paid in total. Both capital gains and income from economic activity
are subject to a personal income tax rate of 20%.

The OCEAN token has several uses within the Ocean Protocol network, including: Access to data and services provided by the network, Staking to secure the network and earn rewards, Governance through voting on protocol upgrades and other important decisions, Payment for data and compute services provided on the network. The OCEAN token can also be used outside of the Ocean Protocol network as a form of currency or asset for: Trading on cryptocurrency exchanges, Payment for goods or services from merchants who accept OCEAN, and for investment or speculative purposes.

Anyone can buy, sell, and hold cryptocurrency by the use of cryptocurrency exchanges in
Latvia. This is specifically because it is easy and quick to start an account and buy your desired
crypto assets through an exchange service. Popular and secure payment services such as
Apple pay, Google pay, Credit Card, Debit Card, Bank Transfer and PayPal are also accessible
in Latvia if your exchange supports payments by these methods. Our exchange offers fast, legal
and safe cryptocurrency transactions through the stated payment services. Our exchange is
also one of the cheapest ways to buy cryptocurrency as we charge no fees for cryptocurrency
transactions in Latvia.