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Learn More about buying STORJ in Lithuania
How to buy Storj in Lithuania
Is STORJ a good investment in Lithuania?
STORJ token was released in July 2017 with an initial price of $0.52. After a huge rise and fall, it started
2018 with a surprising value of $3.13, which was great news for STORJ owners because they could triple
their capital in less than a year. However, it didn’t last long, and the price fell and ended the year at
$0.13. The STORJ price didn’t have any rise or notable fluctuations in 2019 and 2020. The average price
for these two years was $0.45. But 2021 surprised STORJ holders again with a price record of $3.98. Like
most cryptocurrencies, STORJ didn’t have a great year in 2022, and its price fell to $0.27.
STORJ had good days and bad days in its history. The future of this coin is not clear though. If you want
to invest in this coin, you need to have this mindset of how well this coin might perform in the next
years. That is something analysts do. Therefore, it is a good idea to check STORJ price predictions to
have something in your mind about its future. Although it is just a prediction, it can still be helpful. The
highest price predicted for STORJ by 2025 is $1.45. Crypto analysts also believe that STORJ might be a
good long-term investment and have predicted its price to be around $7 by 2030.
What is Storj ?
Storj is a cloud storage platform founded in 2014 as a decentralized alternative to the centralized cloud
storage that some companies like Amazon or Google had offered. Unlike the centralized platforms, on
Storj's decentralized platform, people share or rent the free spaces they have on their hard drives with
people who need somewhere to put their data. This storage can be used for video streaming or
software distribution. The Storj users can make money by sharing the free space on their computers.
However, they receive their rewards with Storj native tokens called STORJ.
Is Storj 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 Storj 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 Storj in Lithuania
As mentioned earlier, the main usage of the STORJ token is as a payment solution on its network. People
who want to rent a space to store their data should pay STORJ to the host who shares the space on their
computer. Therefore, people working on this system need to have STORJ tokens in their wallet to be
able to use this network.
Like other tokens, STORJ's price changes over time, which makes it an option for investment. You can
buy STORJ tokens, keep them in an e-wallet, and wait until the price goes up to sell or trade them with
other currencies. However, this process is not as easy as in theory. You need to be more cautious about
this world because cryptocurrencies are volatile and risky. You should always keep watching its price,
read its news, follow experts, and find out what analysts think about its future. Thus, you can have a
Who can buy Storj 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
STORJ tokens are available on most exchanges. Find a trusted and secure exchange to purchase STORJ
tokens. Blocktrade exchange is a great place to buy coins because it doesn’t have any processing fee,
which makes it cheaper than most exchanges. Furthermore, it is regulated by the EU, which guarantees
its protection and reliability.
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.
No one can tell if the price of crypto will definitely go up or down. However, analysts check different
factors to give predictions of coins like STORJ. Most of them think STORJ might go up and would be a
good long-term investment.
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.
People can make money on this network by sharing their excess storage capacity. They are paid in STORJ
coins. Therefore, being active in this system might be an excellent choice for most people.