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Learn More about buying XLM in Poland
How to buy Stellar in Poland
Is XLM a good investment in Poland?
Like other cryptocurrencies, it’s hard to know if investing in XLM is profitable because it’s not predictable. However, some facts and data can help you analyze the performance of a token on the market. First, we can take a look at the history of XLM and its price in the past. XLM released in 2014 with the price of 0.002 USD. After a year, it reached 0.005 USD, which is almost twice its initial price. It means that if you had invested 1000 USD on buying Stellar or XLM, you could have 2500 USD after a year. Therefore, it would have been a profitable investment for one year. Additionally, the experts in this field believe that the coin might reach 10$ by 2030. This means it might be a valuable long-term investment.
Meanwhile, you should also know that like other cryptocurrencies, investing in XLM is risky too because any incident or news about this company or even other coins may affect the price of XLM. However, since Stellar is a practical network with fast and low-wage transactions, it is predictable that more and more people will start using this platform and its coin. The more this network grows, the more valuable it will get. Therefore, it’s more likely for it to be a successful investment than a failure. Furthermore, you don’t need to mine XLM like other coins; there are an exact number of this token out there that you can buy or sell.
What is Stellar ?
To learn more about XLM, we should take a deeper look at the Stellar network. Stellar is an open-source and decentralized network for digital currency that was created in 2014. Its process is so similar to ripple (XRP). While Ripple focuses on providing a solution for transfers between banks globally, Stellar aims to facilitate payments between people around the world. But the working method of both is almost the same. Stellar is a fast and cheap network, every transaction on this network is done in 6 seconds and will have a low fee of 0.0001 USD.
Learn more on Stellar official website.
Is Stellar 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 Stellar 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 Stellar in Poland
Lumen (XLM) is the money in your e-wallet. Any transaction you can do using physical money, can be done using XLM. Lumen is your asset; you can save it in your wallet and sell it whenever its price rises, or use it to buy different things. Even some people use this crypto as a payment of dollars or euros. For example, if you have to transfer money to your friend in Europe, you can use XLM instead of Euro. However, both of you should have the e-wallet that supports this token to be able to do this transaction. Stellar doesn’t have an official wallet, people can use different wallets from exchanges that accept this coin.
After buying XLM, if you want to hold it as an investment, it’s better to keep an eye on the rate of this crypto to trade it at the best time. If you want to use it, you need to check the projects or companies that accept this coin to see how you can spend it online.
Who can buy Stellar 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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Frequently asked questions
If you want to keep XLM as an investment, you need to know that XLM can be a good long-term investment. It is not recommended to think about a short-term profit while buying this coin.
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.
No, the minimum amount of Stellar XLM you should have in your account is 1 XLM. You can’t activate any wallet without 1 XLM.
It is estimated that over 900 thousand people, 2.50% of Poland’s total population, currently own
Different analysts have predicted the future of XLM up to 2030. They have positive opinions about the future of this coin. Some even believe that the price of XLM will reach $10 by 2030.