Buy Aave
in South Korea

When the Aave coin was called LEND, its initial price was $0.01 per token. When the name changed to Aave in October 2020, every 100 LEND tokens were swapped to 1 Aave, and the price was around $50. Very soon, the Aave price rose to $87, which was due to the release of the new version of the protocol in December 2020, which made using the platform easier and more efficient. At the beginning of 2021, Aave continued to grow and reached $100, and only in a few months, it set a record of $638 per token in February of 2021. It showed that it was an excellent investment for Aave owners. Nevertheless, 2022 wasn’t that good for this coin because from the beginning of the year, it dropped to $256 and ended the year with a price of $62.

There are ups and downs in the history of all cryptocurrencies. Aave is not an exception. It was a good investment sometimes, but the price failure might make people rethink whether to buy this coin. First, no one can tell you if your investment will be profitable because the cryptocurrency world is volatile. However, crypto analysts and experts can give you hints about how the future might be for Aave. Most of them believe that the Aave price would rise to $180 by 2025 and might reach the highest value of $606 in 2030. Please note that these are only predictions and might not be %100 guaranteed.

Aaave is a decentralized Ethereum-based lending platform launched in 2017 to give this opportunity to crypto owners to receive loans. The process is based on smart contracts, which means every step of borrowing and lending crypto is automated. The borrower should keep cryptocurrency assets as collateral and receive 80% of that amount as a loan. All the processes of calculating the loan terms and giving the loans to the borrower are done automatically via smart contracts. Therefore, no one has access to this process as a third party. The process of lending and borrowing is also done from liquidity pools. Thus, the borrower and the lender won’t know each other either. Aave network was called Ethlend but it was renamed to Aave in 2020.

Yes, cryptocurrency is legal to buy in South Korea. The South Korean government has taken a
cautious but supportive approach to the development of the cryptocurrency industry, and has
implemented a number of regulations to promote the growth of the sector while protecting
consumers and investors. The legality of trading cryptocurrency in South Korea is governed by
the Virtual Currency Act. The mentioned act defines virtual currency as a type of electronic
asset that can be used as a medium of exchange, but does not have legal tender status.
According to the same act, in South Korea, individuals and businesses can legally buy, sell,
trade, and hold cryptocurrencies such as Bitcoin, Ethereum, and others. However, the use of
cryptocurrency as a means of payment for goods and services is still limited.
It is important to keep up to date with the latest developments and regulations in the
cryptocurrency sector in South Korea, as the legal and regulatory framework for cryptocurrency
may change over time.

Yes. According to the the Virtual Currency Act, in South Korea, cryptocurrency is taxed as
income under the Income Tax Act and the Corporate Tax Act. According to these laws, profits
derived from the sale or exchange of cryptocurrency are considered taxable income and are
subject to both personal income tax and corporate income tax. The tax treatment of
cryptocurrency in South Korea depends on the individual's or company's status and the purpose
of the transaction. For individuals, cryptocurrency gains are taxed at a flat rate of 20% for short-
term gains (held for one year or less) and a graduated rate for long-term gains (held for more
than one year). For companies, cryptocurrency gains are subject to corporate income tax at the
standard corporate tax rate.
It is important to note that individuals and companies are responsible for reporting their
cryptocurrency-related income on their tax returns. Failure to accurately report and pay taxes on
cryptocurrency-related income can result in penalties and fines. Also, the regulation and
taxation of cryptocurrency in South Korea is subject to change, and it is advisable to stay
informed of the latest developments and seek professional advice on tax matters related to
cryptocurrency.

Aave tokens are called utility and governance coins. The main use of this token is for voting on the system to propose new features and ask for updates. Since Aave is a lending platform, its tokens are mostly used as collateral. Although borrowers can use different crypto as collateral on this platform, if they use AAVE they will get a discount. You can swap a limited amount of Aave coins with any other crypto. But it is not usable for purchasing goods. However, it might be possible in the future.

Meanwhile, most people buy Aave coins to receive a loan on the Aave network or keep the coins as an investment. The price history of the Aave coin showed it could be a profitable investment in the past. If you want to hold these coins as an investment, be patient and keep watching their price. If you are a beginner, only invest as much money as you afford to lose because the future of cryptocurrency is unpredictable.

In South Korea, any individual or entity, including residents and non-residents, can buy
cryptocurrency as long as they have a valid bank account and comply with the applicable laws
and regulations. There are no restrictions on who can buy cryptocurrency in South Korea, and
anyone with the necessary resources and knowledge can participate in the market. The best
way to buy cryptocurrency in South Korea depends on your specific needs and preferences but
the most common way to buy cryptocurrency in South Korea is through a cryptocurrency
exchange. Our platform allows you to buy, sell, and trade cryptocurrency using Euros. In
addition, our exchange is a trustworthy and safe choice for buying cryptocurrency in South
Korea. It operates within the law and offers a range of convenient payment options, including
Apple Pay, Google Pay, credit card, debit card, bank transfer, and PayPal, without any
transaction fees to keep costs low.