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Learn More about buying MANA in Lithuania
How to buy Decentraland in Lithuania
Is MANA a good investment in Lithuania?
Decentraland is a decentralized metaverse (virtual world). This metaverse operates on the platform of the Ethereum blockchain and was created to support the creation, development, hosting and sale of virtual property. Virtual worlds that provide this feature, lead users to a fascinating digital world where they can buy, sell, and build anything they can think of. Decentraland also provides its users with the possibility to purchase virtual property. Users of this metaverse can develop their property as an online and virtual business and a source of income. They can create different buildings and attractions in their virtual land and earn money through them. In addition, users also get good profits by selling their built properties.
Decentraland platform is supported by MANA which is an ERC-20 token that serves as the system's primary currency. Members of the Decentraland community can purchase virtual parcels of the VR platform with MANA. The entire virtual reality ecosystem, which has no central authority, is run and governed by users of Decentraland. The world serves as an alternative VR ecosystem where users can buy and sell virtual goods and real estate, play games, and do whatever they want with their land as long as the network's features permit it. Users are able to interact, manage, monetize, and develop the Decentraland metaverse, which simulates reality in a virtual setting.
What is Decentraland ?
MANA is the symbol and the main in-game currency of Decentraland. It is an ERC-20 token that lets users purchase, trade or develop virtual lands in a decentralized manner.
Learn more about this cryptocurrency on Decentraland official website.
Is Decentraland legal to buy in Lithuania?
Yes. According to the AML/CTF Law, the Lithuanian government allows legal financial transactions with cryptocurrency and offers transparent authorizations for the use of virtual currencies. According to the Bank of Lithuania (LB), cryptocurrency also known as virtual currency is non-regulated digital money that can be used as means of payment, and this money is issued and guaranteed by a non-central bank. It is estimated that over 70 thousand people, 2.58% of Lithuania's total population, currently own cryptocurrency.
Is Decentraland taxed in Lithuania
Yes. According to Art. 2 (14) of Lithuania Law on Personal Income Tax (PITL), the Lithuania State Tax Inspectorate (VMI) states that virtual currency is considered as property; therefore, when income from sales of a virtual currency is received, it is taxable the same as other income from sales of assets or other transfer into ownership. In this case, the difference between sales and the acquisition price is taxed, and the Personal Income Tax rate is 15% on such an income. Also, VMI indicates that according to Art. 17 (1) (27) of Personal Income Tax Law, if taxable profit received from a non-regular sale of cryptocurrency during 12 months is less than EUR 2500, Personal Income Tax is not applied on such a profit.
After you've bought Decentraland in Lithuania
Decentraland (MANA) token holders are important members of the Decentraland platform; Because they are known as part of the network governance (DAO) in each region. Using MANA tokens, they can vote on issues affecting these regions. The total amount of mana tokens held by each member determines the weight of his vote.
MANA tokens are the power behind this platform. In fact, everything on this platform gets its power and value from this token. In addition to its governance use in this game, MANA can also be used to buy LAND or any number of other virtual assets and services in Decentraland.
Who can buy Decentraland in Lithuania?
Anyone. Buying cryptocurrency in Lithuania is much faster and more convenient with the help of exchanges. In Lithuania, different purchase means such as Apple pay, Google pay, Credit Card, Debit Card, Bank Transfer and PayPal, are supported. Our exchange provides safe and fast transactions with no transaction fee through all the mentioned methods.
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Frequently asked questions
What ensures the survival and future of digital currencies is a strong development team, functional services and an attractive platform to attract users. Fortunately, Decentraland (MANA) has all these features. In 2021, Metaverse was one of the hottest topics in the cryptocurrency world. The future of MANA currency mostly depends on how long people are interested in the metaverse. According to Mark Zuckerberg the CEO of Meta, the future is going to be all about the Metaverse market and we are still at the beginning point. Most experts believe that if Decentraland can maintain its appeal to users with timely and correct updates, it has a bright future and buying it at its current price might be a profitable and reasonable investment.
When buying cryptocurrency, there are two factors that could affect the cost: 1.The price of the cryptocurrency itself, and 2.The exchange commission. Our exchange is practically one of the cheapest means to buy cryptocurrncy in Lithuania since it charges no exchange fees for the transactions.
Yes. But note that according to Lithuania Personal Income Tax Law, if the taxpayers generate income from the sale of cryptocurrencies, the difference between sales and the acquisition price is taxed and they are obliged to file a personal income tax return. If you are selling your crypto asset in Lithuania, keep in mind that our exchange charges no fees for transactions.
You can purchase Decentraland (MANA) for less than a dollar. Therefore, the least amount of Decentraland (MANA) that you can likely purchase is dependent upon the minimum purchase offered by your exchange. Our exchange allows a minimum of $10.
According to the Finance Minister Gintarė Skaistė, the Lithuanian Ministry of Finance and the Bank of Lithuania are taking proactive steps to strengthen regulation at national level in preparation for subsequent decisions at EU level.
As an ERC-20 token, Decentraland (MANA) can be safely stored in any Ethereum compatible wallet. It is usually recommended to use a Metamask wallet to connect to the Decentraland platform. To use personal wallets, be sure to back up your wallet so that you can restore your assets in case of any software or device issues.