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Learn More about buying XTZ in Portugal
How to buy Tezos in Portugal
Is XTZ a good investment in Portugal?
Tezos has introduced itself as the first self-correcting platform among digital currencies. The Tezos smart contract platform is similar to Ethereum and allows the creation of decentralized applications, except that it uses a proof-of-stake consensus algorithm. In July 2017, Tezos was able to attract about 232 million dollars in initial coin offering (ICO), which made Tezos the second digital currency in the world of cryptocurrencies. The fame and popularity of Tezos digital currency made large companies such as PolyChain Capital show interest in investing in the native token of Tezos (XTZ). Finally, on June 30, 2018, the first test net of Tezos was released.
Participants or shareholders in the Tezos blockchain, can vote on the changes they want to achieve through a collective consensus on the proposed plans. Smart contracts can always be created using the Tezos platform. Through smart contracts, there will be no manipulations by a third party. In addition, Tezos is a platform to improve the safety of secure contracts, which means if this technology is widely used in the future, any costly and controversial bugs can be totally avoided.
What is Tezos ?
Tezos coin is the native token of Tezos blockchain. Tezos digital currency is known in the digital currency market with its own symbol XTZ. The symbol XTZ is generally used on exchanges in order to address Tezos currency.
Learn more on Tezos official website.
Is Tezos 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 Tezos 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 Tezos in Portugal
The XTZ cryptocurrency can be used for holding, spending, sending, and baking (means signing and publishing blocks to the Tezos blockchain). It is essential to the up-keep and operation of the Tezos network. Users can vote on network upgrades by owning and baking XTZ, and each vote is based on the quantity of XTZ they bake.
XTZ is mainly used to interact with dApps, pay for fees, and secure the network. If the Tezos platform develops further, there will be more demand which may put XTZ in the position of a profitable event for investments as well.
Who can buy Tezos 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
Tezos has the characteristic of self-amendment. This is important because it can prevent society from becoming fragmented, stakeholder motivations changing, and network disruption over time. Due to the self-amendment feature of Tezos, the costs of updating its protocol and implementing innovations in the future are reduced. This can increase the further growth and development of this digital currency in the future and at the same time, it has attracted the attention of many people currently.
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 established minimum amount assigned for purchasing Tezos. Through our exchange, you can begin buying Tezos for a minimum of $10 using the payment method of your choice. The transaction will be processed and added to your collection of cryptocurrency assets.
It is estimated that over 240 thousand people, 2.37% of Portugal’s total population, own some
form of crypto assets.
In order to keep your Tezos investment secure, you can either use cold storage wallets, which are typically encrypted devices that store Tezos users’ assets offline and add an extra layer of security against the constantly changing risks associated with being online. Or, you could keep your XTZ cryptocurrency tokens in online wallets. Additionally, you can use the wallet provided by our exchange, which makes trading Tezos much simpler because it can quickly connect to a number of protocols.