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How to buy Maker in Netherlands
Is MKR a good investment in Netherlands?
Maker coin (MKR) was created in 2015 but officially released to the market in January 2017 with a price of $22.10. It didn’t have many fluctuations until August of the same year when it suddenly reached $288 and continued to grow until it ended the year with a price of $959. That was a surprisingly profitable investment for someone in only one year. The first months of 2018 were even better for Maker owners because its price mounted up to $1,369.99, which was again a record for this token. But it didn’t last long, and the MKR price dropped and ended the year at $449. 2019 and 2020 passed with almost stable prices between $500-$700. MKR again surprised the market in 2021 and reached its highest price of $4,341 in April. For the second time, Maker showed its holders that it could be a profitable investment if they have more tolerance.
The price of Maker coin was shocking all these years and always seemed to be a good investment. But it doesn’t mean it will be a %100 good investment in the future. If you want to invest in this token, MKR price predictions may be helpful, especially for beginners. But you should still read more about its news and experts' opinions the moment you decide to purchase this coin. Crypto analysts and experts expect MKR price to reach $6,000 by 2025. They believe its price could rise to $40,000 in the next ten years. Therefore, they think buying Maker tokens might be a good investment. However, predictions are just predictions, and the future might not be exactly the same as these expectations.
What is Maker ?
Maker is an open-source Ethereum-based blockchain created in August 2015. It is known as one of the most popular and oldest Ethereum-based platforms available. The Maker project is known as MakerDAO, which is an open-source project whose operation is based on the Decentralized Independent Organization (DAO) system. A DAO is considered an organization that is defined based on clear and codified rules, the control of this organization is in the hands of its members. Maker was created as a lending platform. People can use Ether as collateral in a smart contract called Collateralized Debt Position (CDP) to create DAI stable coin through MakerDAO.
Is Maker legal to buy in Netherlands
According to The Dutch National Bank (DNB) all cryptocurrency transactions are legal in the Netherlands. However, cryptocurrencies are still not accepted as digital money. The Dutch National Bank is in charge of cryptocurrency regulations in the Netherlands. They prevent cryptocurrency from being used for illegal purposes such as money laundering or funding of criminal or terrorist activities. It is estimated that over 520 thousand people, 3.04% of Netherlands’ total population, currently own cryptocurrency.
Is Maker taxed in Netherlands
Yes. According to Netherland’s Money Laundering and Terrorist Financing Prevention Act (Wwft), all crypto assets of a private individual count as salary or income. There is no crypto capital gains tax in the Netherlands. Rather, crypto is taxed as an asset. According to the same document, if the taxable base value of your assets (crypto and non-crypto) is more than 50,000 EUR, you are subject to the net worth tax of 31%. This is a fixed percentage return assumed by the government.
After you've bought Maker in Netherlands
Maker coin (MKR) is mostly used as a governance token. MKR holders can propose upgrades to the system, leverage collateral assets, create smart contracts, or simply use their coins as payment for purchasing something online or inside games. DAI coins can be used in the same manner, but since their price is stable, it is not considered an option for investment. However, MKR can still be used as an investment because its price changes over time. People who want to keep this digital asset as an investment should check different factors, from its history to MKR price predictions; there are many things you need to consider while buying Maker coins as an investment.
Who can buy Maker in Netherlands
Anyone with a bank account or credit card. You can use fiat currency deposits to purchase cryptocurrencies in the Netherlands with the help of a trusted exchange. Plus, secure and easy transactions with zero transaction fees are provided by our exchange and through different pay methods such as Apple pay, Google pay, Credit Card, Debit Card, Bank Transfer and PayPal.
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Frequently asked questions
The Maker coins have experienced many ups and downs during its history, but most of the time it was considered a good investment. Most experts and analysts also predict a bright future for this token.
According to the website of the Dutch Government, if you submit your tax return too late or not at all, the Tax and Customs Administration will see this as undisguised capital and impose a fine. Before you receive a fine, the Tax and Customs Administration will send you a reminder and later probably a final notice. If you cannot submit your tax return in time, you can ask for a deferment.
Yes, you do. The Netherlands is different from many countries where cryptocurrency is only taxed when you sell, trade, spend or gift it. This is based on the Dutch tax office statement which assumes you make a return from your assets and tax you on this assumed return.
Almost 100 exchanges support MKR tokens. Since they may have different fees, check their information and find the right exchange. We can suggest you the Blocktrade exchange which doesn’t contain any trading fee.
According to Dutch tax office you are not charged tax for simply buying or selling crypto. Contrary to most other countries, you are not taxed when buying, selling, exchanging, or otherwise disposing of a cryptocurrency. It is taxed as an asset, so you are charged tax on the amount of savings and investments you hold at the beginning of the tax year.
The MakerDAO protocol was founded by Rune Christensen. After being introduced to Bitcoin in 2011, Christensen sold his business and invested in Bitcoin, then became interested in stablecoins and eventually founded MakerDAO.