in the UK
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Learn More about buying CEL in United Kingdom
How to buy Celsius in United Kingdom
Is CEL a good investment in United Kingdom?
CEL coin was released to the market in December 2018 with an initial price of $0.026. It didn’t have
many fluctuations for almost two years. It was in November 2020 when it finally could reach higher than
$1. Meanwhile, 2021 was a better year for CEL holders because the CEL price reached its highest value
of $8. As the numbers show, the CEL owners had increased their wealth eight times in one year, which
was a surprising profit. However, the CEL price dropped and ended the year at $3.82. CEL value had
many ups and downs in 2022, but it never rose more than $4 and ended the year at $0.5.
Investing in cryptocurrency is very risky. People would like to know if the future of the CEL token will be
profitable or not. The most important thing to know is that no one can forecast the future of a
cryptocurrency. Like everything else, it can’t be foreseen. But to make it easier for the investors to
decide on buying a coin, analysts and crypto experts usually give price predictions based on the analysis
they do. They think the price of CEL tokens might reach $13 by 2025. The analyses also predict that this
coin might have a price of $19 by 2030. However, you should still consider that these are just predictions
and you should not do any investment only based on these numbers.
What is Celsius ?
Celsius is a peer-to-peer lending platform launched in 2018. It is created to facilitate the process of
borrowing and lending using blockchain. In this network, users can put CEL tokens as collateral, receive
fiat currency, and pay back with a small fee. The lenders are rewarded with CEL tokens. Furthermore,
the Celsius network has an appealing loyalty program for its users. Members who reach a higher level in
this loyalty program will receive rewards or discounts on their loan interest.
Is Celsius legal to buy in United Kingdom
Yes. According to the definition of crypto assets provided by FCA (Financial Conduct Authority), crypto assets are cryptographically secured digital representations of value or contractual rights that use some type of distributed ledger technology (DLT) and can be transferred, stored or traded electronically. According to the consumers’ investment definition by FCA, buying, selling, investing and making payments through cryptocurrency is legal in the UK. But remember to check before you make a purchase, receive a payment or pay using crypto assets if the deployed crypto assets or services are regulated in the UK. An extensive report on UK’s crypto assets regulations is issued by the HM Treasury, Financial Conduct Authority and the Bank of England.
Is Celsius taxed in United Kingdom
Yes. According to the tax authority of the U.K. government (HMRC) Crypto Assets Manual, cryptocurrency is taxable in the UK. HMRC are clear that crypto may be subject to both Capital Gains Tax and Income Tax depending on the specific transaction. According to the above-mentioned manual, if you’ve sold your crypto for more than you bought it, you’ll likely pay capital gains tax on the profit. For capital gains from crypto tax-free allowance, you'll pay 10% or 20% tax. If you’re trading huge amounts of crypto, HMRC will think you are a trader and ask you to pay income tax on trading, rather than capital gains taxes. For additional income from crypto over the personal allowance, you'll pay between 20% to 45% in tax. The exact amount you'll pay will depend on the transaction you've made, the tax that applies and the Income Tax band you fall into. See UK’s Crypto Assets Manual for Individuals for more information.
After you've bought Celsius in United Kingdom
CEL is a lending token. It means people use these tokens on the Celsius Network as collateral to receive
fiat as a loan. They can also receive CEL as a reward for lending currency to others. The more CEL tokens
a member has, the cheaper loan payment they will get.
Like other cryptocurrencies, CEL crypto can be a good investment. However, there is no guarantee about
its future. But people still keep this crypto as an investment. If you want to invest in CEL crypto, we
recommend you read more about its news. Check its daily price for a while, read comments about its
probable future, and follow experts on social media. Consider several factors when you want to buy
cryptocurrency as an investment. Last but not least, you should have an exit point for your investment.
This way, if the price does not increase much, you will not lose a lot.
Who can buy Celsius in United Kingdom
Anyone can easily purchase cryptocurrencies in the UK through exchanges. There are different payment methods available in the United Kingdom. Some popular payment services are: Apple pay, Google pay, Credit Card, Debit Card, Bank Transfer and PayPal. Our exchange allows cryptocurrency handling through the mentioned services via secure, fast and free of charge transactions.
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Frequently asked questions
CEL tokens are available on most exchanges. If you are looking for a secure and trusted exchange with
zero processing fee, buy CEL from Blocktrade exchange, which is a cheap and cost-effective place to buy
Yes. You won't always pay tax on crypto in the UK. According to the UK government Tax Manual, transactions that are tax free include: When your total gains are under annual tax-free
allowance (£12,300), Gifting crypto-assets to your spouse, transferring cryptocurrency between your own wallets and donating cryptocurrency to charity.
According to HMRC guidelines, when you dispose of crypto-asset exchange tokens (known as cryptocurrency), you may need to pay Capital Gains Tax. Note that you pay Capital Gains Tax when your gains from selling certain assets go over the tax-free allowance.
The Celsius Network is a London-based company founded by Alex Mashinsky, S. Daniel Leon, and Nuke
Goldstein. Notably, Mashinsky who is an entrepreneur and engineer formerly contributed to creating a
Voice Over Internet Protocol foundation.
According to HMRC tax record guide, crypto investors must declare the following: Type of tokens, date you disposed of them, number of tokens you’ve disposed of, number of tokens you have left, value of the tokens in pound sterling, bank statements and wallet addresses, and records of the pooled costs before and after you disposed of them.
Like other coins, the future of CEL is also unpredictable. No one can guarantee that investing in Celsius
will be profitable. However, the price history of this coin showed several profitable moments, but it
doesn’t ensure it will happen in the future too. Consider several factors to decide if buying CEL might be
worth it for you.