Buy Balancer
in Switzerland

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.

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 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.

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. 

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.