Welcome back
A few days ago, Bybit published an article saying that Indian users will now be charged an extra 18 percent GST (Goods and Services Tax) on top of the transaction fees they already charge. For me, this is a big red flag for the country and clearly shows how we are moving away from crypto adoption.
Another news I came across was about the TON blockchain. It mentioned that people around the world can now apply for the Dubai Golden Visa by staking TON, and that too with an early return of 4 to 5 percent. The return is not very high, but also not too bad especially if it comes with a Dubai Golden Visa.
While reading this, I also found out that there is a processing fee charged on top of your staked TON. The criteria says you must stake 100k dollars worth of TON and pay a 35k dollars processing fee to get the Golden Visa in Dubai. Now, this 35k dollars fee is actually a lot especially when compared to traditional Golden Visa costs, where you only need to pay for things like a medical test, Emirates ID, visa application, and admin charges which are usually under 2000 dollars. However, in that case, you have to invest in real estate worth around 545k dollars. So maybe this 35k is being charged as your total fee for the Golden Visa through the TON staking route.
Some people may support it and some may be against it. I will leave that to the readers. You can share your thoughts in the comments about this 35k dollars fee on top of staking 100k USD worth of TON.
There is one more thing to keep in mind about the TON you will be staking for the Golden Visa. You will have to keep it staked for 3 years and during this time you will not be able to unstake it. This means you must have trust in the TON token because you are basically betting on it for the long term. After three years your locked TON will be released and you will be free to use or transfer it as you want.
However, another major issue right now is that UAE authorities have denied the claim that people can get a Golden Visa by staking TON for 3 years. So we still need to wait for clarity on whether this big announcement by the TON blockchain is true or not. As far as I have read, getting a Golden Visa just by holding any digital asset is not possible right now and this was confirmed by UAE officials a few hours ago.
It will be interesting to see what Durov says about all this because he is a big name and he cannot just go around making such claims without solid backing. It might even harm his image.
To end this blog, I just want to say if you are planning to get a Dubai Golden Visa, you should only go for it if you are a big investor. I would not suggest someone with just 500k to 600k dollars to go for it. Dubai is great for real estate investments, but you should also be aware of the risks because markets can go down for any asset in the world. Even though chances may be low, if you are investing 500k to 600k dollars, you should at least have double or triple that amount to stay on the safer side.
So what do you think about all this? Is the 35k dollars fee worth it? Can TON really be trusted for 3 years? Share your thoughts and views in the comments.
Thank You, stay careful when you choose where you have to invest your money, and Happy Trading Everyone.
