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How to buy 1inch Network in Poland
Is 1inch a good investment in Poland?
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.
What is 1inch Network ?
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. For more information and updates about this coin, check out 1inch network official website.
Is 1inch Network legal to buy in Poland?
Yes. According to an official statement by the Polish Financial Supervision Authority (KNF)
which was published to clarify the status of cryptocurrency activities and trading, the authorities
of KNF stated that exchange in cryptocurrencies, as well as trading in cryptocurrencies are not
prohibited and is therefore legal in Poland. The KNF office also warned entities operating in the
cryptocurrency space that they will have to abide by anti-money laundering and terrorism
Is 1inch Network taxed in Poland
Yes. According to the details of settlement of Personal Income Tax by the Polish Government,
in line with the Article 30B(1A) of the Income Tax Act, gains from selling virtual currencies are
classified as revenue from property rights and are subject to 19% rate taxation under the Polish
Personal Income Tax Act. According to the above-mentioned settlement, transactions resulting
in the creation of tax revenues are (1) exchange of a virtual currency into a legal tender (fiat
currency), (2) payment of virtual currency for a good, service or property, where this property
rights do not have the form of a virtual currency.
After you've bought 1inch Network in Poland
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.
Who can buy 1inch Network in Poland?
Anyone. The choices are endless in Poland, including crypto ATMs, over-the-counter brokers,
P2P marketplaces and the easiest of them all, crypto exchanges. All you need to do is create an
account, meet the conditions required to start trading, and start your crypto transactions. With
the help of an exchange and the many payment services that are accessible in Poland you can
purchase crypto assets easily. Such payment services include: Apple pay, Google pay, Credit
Card, Debit Card, Bank Transfer and PayPal. Our exchange supports all of the mentioned
payment methods and provides you with quick, secure and free of charge cryptocurrency
transactions in Poland.
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Payment methods to buy 1inch Network in Poland
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Frequently asked questions
The future of a cryptocurrency is not predictable. However, cryptocurrency experts and analysts believe that 1inch would be a good investment if you want to keep it for the long-term. The price of this token has been predicted to rise to $7.76 by 2040.
Yes. You can easily sell your crypto assets by the help of exchanges in Poland. Also note that
according to the details of settlement of Personal Income Tax by the Polish Government, your
annual tax return should include your sale records of cryptocurrencies in a given year.
Yes. Buying cryptocurrency is possible through the exchanges in Poland. Yet note that
according to the details of settlement of Personal Income Tax by the Polish Government, the tax
return should be filed even if you only bought cryptocurrencies.
Sergej Kunz and Anton Bukov are the founders of the 1inch network. They were both crypto lovers before creating 1inch. Sergej was a famous YouTuber that worked on creating videos about analyzing the future of cryptocurrencies. Therefore, he was very familiar with this world.
It is estimated that over 900 thousand people, 2.50% of Poland’s total population, currently own
Since the 1inch platform operates as a decentralized exchange, it is considered safe because on this type of network the user’s funds are not held directly on the platform, and they don’t require a third party to connect traders.