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Learn More about buying ANKR in Switzerland
How to buy Ankr in Switzerland
Is ANKR a good investment in Switzerland?
ANKR debuted on the market in March 2019 and was trading at about $0.012. Prior to the price increase becoming more pronounced in August of 2020, prices grew gradually. ANKR reached its peak at $0.019 at that time. ANKR's value increased by 500% by the end of 2020 to $0.0084. The biggest change to date for ANKR came in 2021. By the end of January, prices had risen to $0.012 and in February, they quickly surpassed $0.02 and $0.03 as well. When Ankr's market cap first surpassed $1 billion in March, the growth became exponential. On March 28, 2021, ANKR reached an all-time high of $0.22, marking the peak of the rapid increase. Ankr's market cap was over $1.3 billion at that point. The first week of April saw a price retracement and a drop below $0.12, followed nine days later by a retesting of $0.21. ANKR was able to recover $0.18 by the end of the month despite experiencing a further pullback of more than 50% in the second half of April. This represented over 2,000 percent gains for the year as a whole.
According to some cryptocurrency experts, the price of Ankr is expected to range between $1.15 to $1.32 in 2030 with the average price of around $1.23. But keep in mind that this is not a buy signal or a financial advice. We suggest buying into the cryptocurrency market after doing some research and consulting a professional.
What is ANKR ?
The history of the Ankr platform dates back to 2017. This platform aims to create an efficient blockchain framework that provides distributed cloud computing. In general, if we want to define the Ankr platform in a simple phrase, we can say that Ankr is a blockchain-based cloud infrastructure project. The purpose of blockchain infrastructures is to enable resource providers and end users to easily connect to blockchain technologies and DeFi applications. Ankr's proprietary cloud infrastructure operates independently of public providers and is powered by a distributed database to increase flexibility and stability.
Ankr uses blockchain technology as an essential part of the infrastructure to facilitate payments on the platform, measure globally distributed resources, process information from users or resource providers, and data center algorithmic suggestions through smart contracts.
Is Ankr legal to buy in Switzerland
Switzerland is one of the most well-known banking and financial centers in the world. The country is progressive on the development of cryptocurrencies. In January 2018, Swiss Economy Minister Johann Schneider Ammann stated that he sought to make Switzerland a “crypto nation”. According to the Swiss Financial Market Supervisory Authority (FINMA) and the Switzerland Federal Tax Administration (SFTA), cryptocurrencies and virtual currencies are legal and classified as assets or property.
Is Ankr taxed in Switzerland
Yes. According to the established tax legislation defined by The Swiss Federal Tax Service (SFTA), cryptocurrencies are assets. This means that they are subject to Swiss wealth, income and capital gains taxes and must be declared in annual tax returns. The mentioned tax legislation treats crypto assets similar to stocks, bonds and real estate in Switzerland. According to the mentioned document above, if you are a private crypto investor, your crypto profits will be completely exempt from Capital Gains Tax. This is as long as you fulfill these five criteria:
- transaction volumes should not exceed five times the original capital
- holding period of crypto assets should be six months or more
- capital gains should be less than 50% of overall taxable income
- minimal usage of third-party financing (buy assets with your money)
- derivatives only used as a hedging tool
Note that as stated by the tax legislation document, if you violate two or more criteria, chances are that you may not be considered a private investor but a self-employed trader instead. If you are not sure that you will be considered a private investor or a self-employed trader, we recommend consulting a tax professional in Switzerland or the SFTA directly.
According to the tax legislation document, private investors don’t have to pay tax on their trading profits, but you might still need to pay Income Tax on cryptocurrency. Having your salary from a job being paid in a cryptocurrency, getting paid in crypto in exchange for services if you are a freelancer, or receiving crypto from activities such as mining will be considered income by the FTA.
After you've bought Ankr in Switzerland
The native utility and governance token of Ankr platform, ANKR, has many uses, including paying for goods and services within the Ankr ecosystem and staking to generate passive income. ANKR is a utility token with a variety of applications. In addition to its use for staking, it can be used for protocol and dApp deployment, as well as voting on governance proposals. ANKR also serves as a reward for network participants.
Who can buy Ankr in Switzerland
All citizens of Switzerland can convert, buy, and sell cryptocurrencies with fiat. Cryptocurrencies are accepted as legal tender in certain cities. Many traditional banks in Switzerland are partnering with digital asset banks to allow their customers to purchase crypto assets. These Swiss banks accept cryptocurrency and enable individuals and businesses to convert it into fiat. A more efficient and quick way to buy crypto in Switzerland would be through crypto exchanges. Our service authorizes fast and secure transactions through different means such as Apple pay, Google pay, Credit Card, Debit Card, Bank Transfer and PayPal.
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Frequently asked questions
Ankr's cost-effectiveness, decentralization, personalization and compatibility with the environment are among the advantages of Ankr digital currency that make this digital currency popular among people. Also, ANKR has a capped max supply of 10 billion making it a scarce asset, like Bitcoin. After the maximum amount is reached, no new tokens will be released, meaning any increase in demand will drive up ANKR’s price. Plus, note that this is by no means a financial advice or is trying to encourage you for a purchase.
According to the deadline settlement document of Swiss Federal Tax Service (SFTA), the tax year in Switzerland runs from January 1 to December 31 each year. Crypto holders are taxed depending on the rates published by the FTA by the end of the fiscal year (31 December). Your crypto taxes should be reported in your annual tax return where you also report ordinary income from employment.
According to the tax legislation by SFTA, income from cryptocurrency mining and staking is declared as taxable income for tax purposes. Mining considerations can qualify either as employment income or as income from self-employment.
There is no established minimum amount assigned for purchasing Ankr. On our exchange, the minimum order size for buying ANKR is $10. Also, you have a variety of payment options to choose from. The transaction will be completed and displayed on your portfolio of cryptocurrency assets.
There are two factors that affect the cost of cryptocurrency purchase. The price of the cryptocurrency itself and the exchange commission. Our exchange is practically one of the cheapest means to buy crypto since it does not charge any exchange fee.
ANKR currency can be stored in all kinds of hardware and software digital wallets. As you know, wallets in the world of cryptocurrencies are like your bank account, which you can safely store cryptocurrencies using the address provided by the wallet. Hardware wallets are among the wallets that are able to store Ankr's cryptocurrency. These wallets have high security, but due to their high price, fewer users work with these wallets. Another option is to keep your ANKR tokens safe through software wallets. You can also use the wallet offered by our exchange, which greatly simplifies trading ANKR cryptocurrency because it can connect to numerous trading options quickly.