Buy 1inch Network
in New Zealand

The 1inch token was released to the market in late 2020 with an initial price of $1.60. 2021 was a great year for this token because very soon, its price mounted to $7.87, which was the highest value of all time; and a fabulous profit for investors on this coin. However, it didn’t last long, and the price started to fall again until it ended the year with a value of $2.39. 2022 was disappointing for the crypto world, almost all the cryptocurrencies experienced a downhill. The price of 1inch dropped to $1.19 at the beginning of 2022 and crashed to its lowest price of $0.5178 in June of the same year.  

1inch was a profitable investment at the beginning and could bring a high profit to its investors for one year. But how to know if it’s still a good investment? Although a coin’s history can’t guarantee a profit in the future, it still can give investors some predictions about its future. First of all, everything depends on your risk tolerance because the cryptocurrency world is volatile. However, analysts and experts on this field check different stats and give predictions about the future price of a coin. Bear in mind, these predictions are not 100% guaranteed. Nevertheless, the predictions can be useful. The analysts believe that the price of 1inch won’t rise so much until 2025, which might be around $1.53. But it will have better performance for the next 5 years and might reach $3.61 by 2030.

1inch is a cryptocurrency platform that was released in 2019 as a decentralized exchange aggregator. The main goal of this platform is to find the lowest cryptocurrency price for traders. In the 1inch platform, you can easily connect Ethereum-based coins (known as ERC-20 tokens) to ETH or any other cryptocurrency that works on Ethereum. The transaction fee on 1inch is significantly lower than Ethereum.

Yes, buying and owning cryptocurrency is legal in New Zealand. The country has taken a
supportive approach to cryptocurrencies and has set guidelines for the use and exchange of
digital assets. The Inland Revenue Department considers cryptocurrencies to be a form of
property for tax purposes and requires individuals to pay taxes on any gains made from their
sale.

Yes. According to The Inland Revenue Department (IRD) of New Zealand’s provided guidance
on the tax treatment of cryptocurrencies, cryptocurrency is considered property for tax
purposes. This means that any gains made from the sale or exchange of cryptocurrency are
subject to capital gains tax. Additionally, in New Zealand, if you acquire cryptocurrency with the
intention of selling it in the future, your gains from the sale or exchange of these assets are also
considered taxable income and are subject to the same tax rates as your other income. This
applies to profits from trading, exchanging, selling, or disposing of cryptocurrency, as well as
income received from cryptocurrency mining, staking, and airdrops. The tax rate for
cryptocurrency gains in New Zealand is based on a progressive tax system, with rates ranging
from 10.5% to 39% depending on your total taxable income.
The Inland Revenue Department of New Zealand has also provided information on how to
report and pay taxes on cryptocurrency transactions. It is advisable to seek professional tax
advice if you have questions about how your cryptocurrency transactions are affected by New
Zealand tax laws.

While buying crypto, always consider its uses because there are several ways you can take advantage of cryptocurrency. 1inch can be used for staking, spending, trading, or keeping as an investment. One of the major uses of 1inch is voting inside the network for an update to its protocols. You can also swap 1inch with other coins on the exchange. It can be done if you think the future of another token might be better than 1inch. Furthermore, 1inch can be used as a payment inside games.

One reason that most people would like to buy a coin is to keep it as an investment. 1inch might be a good investment too. However, after buying 1inch, you should always check its price to ensure you are not losing money. It is better to consider an exit point for your investment to avoid any loss. Additionally, you should know that the cryptocurrency world is risky. Thus, never invest money you can’t afford to lose, especially if you are a beginner in this world.

In New Zealand, anyone over the age of 18 and who has a valid government-issued ID can buy
cryptocurrency. There are no restrictions on who can buy cryptocurrency in New Zealand, but it
is important to note that all cryptocurrency transactions are subject to anti-money laundering
and counter-terrorism financing laws. This means that individuals and businesses must comply
with certain identification and verification requirements. Plus, when it comes to purchasing
cryptocurrency, using a cryptocurrency exchange is the most convenient option. Our exchange
specially allows you to exchange fiat currencies for cryptocurrencies through various payment
methods, such as Apple Pay, Google Pay, credit card, debit card, bank transfer, and PayPal.
Our exchange also offers these payment options with no exchange fees while ensuring secure
transactions.