Schengen countries, or European countries, are highly active in crypto trading. Slovakia, a country in the heart of Europe, is famous for its history and landscapes, and it is now making waves in the world of cryptocurrency. Slovakia has successfully positioned itself as a leading crypto region in Europe, with a booming industry bigger in size compared to other countries.
To achieve financial freedom, read this blog until the end to learn about how to invest in crypto in Slovakia.
Before we discuss how to invest in crypto in Slovakia, let’s get a quick overview of crypto tax regulations.
Crypto tax Slovakia
Slovakia follows EU guidelines for cryptocurrency regulation, focusing on anti-money laundering (AML) and counter-terrorism financing (CFT) rules. While specific laws are still developing, the National Bank of Slovakia uses EU directives to manage crypto activities. Profits from crypto transactions, such as trading or using crypto for goods and services, are taxable. Recent EU rules require customer identity checks for transactions between regulated digital wallet providers, but personal wallets are not included.
Popular crypto in Slovakia
In Slovakia, cryptocurrencies like Bitcoin, Ethereum, and others have gained popularity among investors. According to a study, Slovakia ranks 6th in terms of crypto popularity in the European Union, with 12% of Slovakia’s population having invested in cryptocurrencies, while 25% have invested in traditional assets. The Cryptocurrencies market in Slovakia is projected to grow by 7.81% (2024-2028), resulting in a market volume of US$63.9m in 2028.
The National Bank of Slovakia does not oversee Virtual Asset Service Providers (VASPs) within its jurisdiction, leading to an intriguing density anomaly: Slovakia hosts almost ten times more VASPs than France.
Here are some of the popular crypto investments in Slovakia:
- Optimus AI: Optimus AI is a cryptocurrency that focuses on modular blockchain solutions that aim to simplify blockchain development and integration. It is one of the most popular crypto in Slovakia, along with Kaspa (KAS) and Dimitra (DMTR).
- Bitcoin (BTC): Bitcoin (BTC) is the most well-known and widely used cryptocurrency globally. It is a decentralized digital currency that maintains value due to its limited supply of 21 million units. Bitcoin is often considered a long-term option to invest crypto in Slovakia due to its features, such as decentralization and limited supply. In Slovakia, Bitcoin is legal to buy and is subject to income tax.
If you are looking forward to Bitcoin crypto investment in Slovakia, Millionero can be your go-to platform!
- Catgirl: Catgirl is a community-driven meme token that has captured the hearts of crypto enthusiasts. It is one of the lesser-known gems in the Slovakian market, but it is gaining popularity due to its one-of-a-kind approach to the crypto market.
- Artrade: Artrade is a platform that connects the worlds of art, offering a unique opportunity for artists and collectors.
- Ethereum: Ethereum (ETH) is a widely known open-source blockchain platform that enables the creation of decentralized applications (dApps). Ethereum’s popularity in Slovakia is due to its potential and versatility for innovation in various industries.
To buy ETH crypto in Slovakia, hit up Millionero today!
How to invest in crypto in Slovakia in 2024
In this section, let’s see how to invest in crypto in Slovakia safely.
Crypto exchanges are a widely used method for trading cryptocurrencies in Slovakia, functioning like stock exchanges where you can trade various crypto tokens. Millionero, a rapidly growing and well-liked exchange, offers a user-friendly platform for crypto trading in Slovakia, allowing you to convert fiat currency into crypto and vice versa easily. Millionero’s referral program benefits users by sharing up to 55% of the fees earned from one’s referrals, making it an ideal choice for
crypto investments.
How to invest in crypto in Slovakia through Millionero:
Step 01: Download the Millionero app on your mobile phone or access the official Millionero website.
Step 02: Sign up and create your account by providing the necessary details. Click on ‘Register’ to complete the process.
Step 03: Once registered, access your dashboard to view your account details. On the top-right, choose between spot crypto trading or perpetual trading.
Step 04: If you go for spot trading, choose the crypto you want to trade.
Step 05: Decide on a market or limit order, input the order value, and click ‘Buy’ to execute your trade.
Bottomline
Crypto investment in Slovakia can be a lucrative opportunity, but it’s crucial to prioritize safety and security. Remember to choose a reputable exchange, such as Millionero, which offers a user-friendly platform and a wide selection of cryptocurrencies.
So why wait? Invest crypto in Slovakia today with Millionero and get ready to take your first easy step towards financial freedom!
Disclaimer: Cryptocurrencies are an inherently volatile asset class, and investments can carry substantial risks. This information is for educational purposes only and should not be construed as financial advice. Always do your research and conduct due diligence before investing in crypto projects.