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Learn More about buying BAL in Portugal
How to buy Balancer in Portugal
Is BAL a good investment in Portugal?
Balancer (BAL) was introduced to the crypto market in June 2020, initially trading at $20 USD. However, its value declined to below $10 by mid July and recovered to over $10 by the end of the month. In August, prices rose to near $30 before experiencing a 42% drop to $17 and eventually reaching a high of $38.50 in September. Despite reaching almost $19 in November, Balancer ended the year at $13.74. The following year, Balancer's prices rose, doubling in January and reaching a peak of $58 in February. The next few months saw significant price fluctuations, reaching highs of $67 and $73 in March and April, respectively, followed by drops of over 30%. Balancer hit its all-time high of $76.68 on May 4, 2021, showing year-to-date gains of 460%. At that time, its market cap was around $500 million, outperforming 62% of the top 100 crypto assets in just one year. The year 2022 was bearish for most of the crypto market as many crypto tokens experienced drastic falls, BAL too was not an exception. It ended 2022 on around $5.3 mark and started to rise as 2023 started ranging from 6 to 7 USD early on 2023. The price predictions for this cryptocurrency token have forecasted an average of $22.59 USD for BAL in 2025 and a promising average value of $140.69 USD by the year 2030. But please bear in mind that this is by no means a buying signal or a financial advice. We strongly advise you to seek further information from crypto market experts and study the movements of the market before deciding to invest in Balancer tokens or any cryptocurrency tokens at all.
What is Balancer ?
Balancer is an automated market maker and decentralized exchange platform that was launched in March 2020 on the Ethereum blockchain network. This platform is designed as an open and accessible alternative to centralized exchanges and allows users to trade Ethereum (ETH) and assets based on the ERC-20 standard in a trustless and permissionless environment. An automated market maker is a decentralized exchange that uses a mathematical formula to price assets. In other words, unlike traditional exchanges that use an order book and bid/ask system, in automatic market makers, asset prices are determined based on a price algorithm.
Balancer allows users to exchange supported tokens, create a liquidity pool in order to add liquidity to the balancer protocol, and also invest in existing pools for yield farming of transactions. The Balancer cryptocurrency network has been developing since 2018 and its bronze version was launched in 2020. Since then, Balancer has become one of the top 15 decentralized exchange platforms on the Ethereum network in terms of transaction volume and one of the top 10 largest decentralized applications (DApps) running on the Ethereum network in terms of total asset value locked.
Is Balancer legal to buy in Portugal
Yes. According to the Financial Action Task Force (FATF) document provided by Banco de
Portugal (Central Bank of Portugal) which was published to provide a definition for
cryptocurrency, virtual currency or cryptocurrency is a digital representation of value that can be
digitally traded and functions as a medium of exchange; and/or a unit of account; and/or a store
of value. According to the mentioned document, virtual currencies are the wave of the future for
payment systems and users can purchase cryptocurrencies and engage in specific activities
that involve virtual currency payments.
Is Balancer taxed in Portugal
According to the taxation of cryptocurrencies official ruling form by the Portuguese Tax Authority
(Autoridade Tributária e Aduaneira), in line with the personal income tax regulation process No.
5717/2015, the Portuguese Tax Authority examined the possible classification of
cryptocurrencies within certain types of income that are subject to tax, like capital gains, capital
income and income from business activities. According to the above-mentioned document, the
tax authority decided that natural persons should not be taxed on their crypto gains from selling
cryptocurrencies. The Tax Authorities confirmed that the income from this type of assets is
presumably not taxable, unless the income arises from the performance of constant, regular and
After you've bought Balancer in Portugal
Balancer (BAL) is used as a governance token to give holders the power to propose and vote on changes to the Balancer protocol. BAL is also used to pay for transaction fees on the platform, provide liquidity to pools, and access premium features. Additionally, BAL can be used as an investment and as a means of payment or as a trading asset with its value increasing based on supply and demand dynamics in the market.
Who can buy Balancer in Portugal
Anyone. The safest and simplest way to buy cryptocurrency in Portugal is through crypto
exchanges, specifically if you are a beginner entering the crypto-world. All you need to do is to
make an account, fund your account through a variety of payment methods, search for your
intended cryptocurrency and buy your crypto assets. Portugal authorizes payment services such
as: Apple pay, Google pay, Credit Card, Debit Card, Bank Transfer and PayPal. Our exchange
provides you with secure and fast cryptocurrency transactions through such payment services
whereas you pay no exchange fees for your transactions in Portugal.
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Frequently asked questions
The Balancer (BAL) project is significant in the decentralized finance (DeFi) space as it provides a solution for automated portfolio management and liquidity provision. The Balancer protocol allows users to create and manage multi-asset pools that can be traded on the platform, providing increased liquidity and reducing the need for manual rebalancing. Additionally, the BAL token is used as a governance token, allowing token holders to participate in decision making for protocol upgrades and changes. The Balancer project has been praised for its user-friendly interface and the potential to improve the efficiency and accessibility of DeFi. Overall, the Balancer project is significant in the DeFi space as it provides a solution for better asset management and adds to the growth and development of the decentralized finance ecosystem. These factors can all contribute to its added value over time. please note that this is not a financial advice.
Yes. According to taxation of cryptocurrencies official ruling form by the Portuguese Tax
Authority, selling your cryptocurrency is allowed and tax-free in Portugal if it isn’t used as a
source of income.
No. According to taxation of cryptocurrencies official ruling form by the Portuguese Tax
Authority, there are no reporting obligations in case of cryptocurrency transactions above a
certain threshold, other than suspicious activities covered by Portuguese AML Law.
There is no official minimum amount to buy Balancer (BAL) tokens. The minimum order size required to buy BAL tokens in accordance to our exchange's terms and conditions would be $10 USD.
It is estimated that over 240 thousand people, 2.37% of Portugal's total population, own some
form of crypto assets.
To keep your BAL crypto investment safe, you should follow these best practices: 1. Use a hardware wallet or a software wallet that provides robust security features to store your BAL tokens. 2. Enable 2FA on your wallet or exchange account to add an extra layer of security to your investment. 3. Regularly update your wallet software to ensure you have the latest security features and patches. 4. Store backup copies of your seed phrase or private key in a safe place to protect against loss or theft. In addition to external wallets, our exchange also has an internal wallet for you to store your cryptocurrency tokens after purchase. A key benefit of using the wallet on our platform is that if you aim to buy and sell your BAL cryptocurrency on our exchange, the speed of the transaction will be quicker when using the internal wallet.