Buy Ethereum Classic
in South Korea

Ethereum Classic (ETC) is a cryptocurrency that was created in July 2016 and as of 24th July 2016, its price was $0.752354. It then reached the $1 mark for the first time in July 2016 and in its first year of trading, the price of ETC fluctuated between $1 and $5. The ETC coin price reached the $10 mark for the first time in May 2017 and later that year, the price of ETC began to rise rapidly, reaching an all-time high of around $45 in December. 2018 and 2019 did not bring luck to ETC as its price was falling to around $5 by the end of 2019, but again by 2020, the price of ETC began to rise again, reaching a new all-time high of around $20 in August 2020. Ethereum Classic crypto price reached the $50 mark for the first time in April 2021 and then by May of that same year, the price rose again, reaching another new all-time high of around $70. ETC continued to experience a bullish market in 2021 as its value reached the $100 mark for the first time and touched its all-time high price of $176.16. Just as the overall market price fluctuates from time to time, 2022 was not an impressive year for many cryptocurrencies on the market and ETC was not an exception. But as 2023 started, the crypto market began to rise again and as a result ETC is also experiencing positive movements as it has been trading around the $20 mark and higher by the start of 2023. According to some crypto experts on the market, ETC price is forecasted to be worth around $107 in 2025. But note that before entering the crypto market, it's recommended to educate yourself and learn about the technology behind cryptocurrencies, their use cases, and the market. Also, this is by no means a financial advice. You should read up on the history and economics of different cryptocurrencies and discuss the market with a professional.

Ethereum Classic is a decentralized blockchain platform that allows people to build and use decentralized applications (DApps) that run on the blockchain. Like Bitcoin, no one controls and owns this network. Ethereum Classic is an open-source project and uses smart contracts that are managed by its community around the world. Unlike the Bitcoin protocol, ETC is designed to be adaptable and flexible; Therefore, it is easy to create new applications on the platform of Ethereum Classic. After the infamous DAO hack, the Ethereum Foundation implemented a new version of the Ethereum main net on July 20, 2016 with controversial events. In the new version, the hacked DAO was completely erased from the blockchain history. The Ethereum Foundation registered a new brand name and chose the code ETH. The old version also continued to work under the name of Ethereum Classic (ETC). It can be said that Ethereum is a fork of Ethereum Classic.

Ethereum Classic followed the original rules of the network and maintained the Ethereum line of thought. The people who continued ETC were defenders of the immutability of the blockchain and opposed Ethereum forks with the slogan "code is law". Since the creation of the project, many improvements have been made to the Ethereum Classic network. The main goal of this project is to become a global payment network using smart contracts. Contracts that operate without centralized governance. In addition, Ethereum Classic wants the network's coin to become a currency for storing value and the implementation of trading.

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.

Ethereum Classic token is used as a store of value and as a medium of exchange in the same way as other cryptocurrencies, it is an instrument to implement digital transactions and it can be used to pay for goods and services or be traded on cryptocurrency exchanges. Additionally, ETC can be used to develop decentralized applications on the Ethereum Classic blockchain.

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.