in New Zealand
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Learn More about buying MKR in New Zealand
How to buy Maker in New Zealand
Is MKR a good investment in New Zealand?
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 New Zealand
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
Is Maker taxed in New Zealand
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.
After you've bought Maker in New Zealand
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 New Zealand
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
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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.
Yes. According to the Tax Guidance information provided by The Inland Revenue Department
(IRD), In New Zealand, if you use cryptocurrency to purchase goods or services, it is considered
a barter transaction and is subject to goods and services tax (GST). The GST rules apply to the
value of the goods or services being provided, regardless of whether they are paid for in fiat
currency or cryptocurrency. This means that the same amount of GST is payable on a
cryptocurrency transaction as on a transaction conducted in fiat currency. It is the responsibility
of the seller to charge and collect the correct amount of GST on the sale of goods or services,
and to report and pay the GST to the Inland Revenue Department (IRD). The buyer is also
required to keep records of cryptocurrency transactions for tax purposes.
The cheapest way to buy cryptocurrency in New Zealand may vary depending on a number of
factors, such as the amount you want to purchase, the type of cryptocurrency you want to buy,
and the payment method you choose. One of the most convenient ways to buy cryptocurrency
in New Zealand would be through our cryptocurrency exchange. Our exchange allows you to
buy cryptocurrency using various payment methods, such as bank transfer, credit card, Apple
pay, Google pay, Debit Card and PayPal. Some exchanges charge fees for their services but
our exchange has zero fees for buying and trading your cryptocurrency.
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.
The exact number of people who own crypto assets in New Zealand is not publicly available.
However, various reports indicate that the adoption of cryptocurrency is growing in the country,
with more and more individuals and businesses investing in and using digital currencies.
According to a survey conducted by the New Zealand Reserve Bank in 2020, around 5% of the
adult population in the country owns cryptocurrency. This represents a significant increase from
previous years, and suggests that the popularity and use of cryptocurrency is continuing to grow
in New Zealand. However, it is important to note that these figures may not reflect the actual
number of people who own crypto assets, as some individuals may not have disclosed their
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.