Cryptocurrency such as Bitcoins, Ethereum and others, is a form of decentralised digital money. They function on the principle of blockchain technology connected to a network of computers. People around the globe are taking interest in cryptocurrency. If you are one of those interested in cryptocurrencies, you need to understand the various aspects of it. And the question of how cryptocurrencies can attract tax is as much valid if you are looking at investing. So, have you ever thought about how the government can tax your cryptocurrency investment? Find out the various ways in which it can be done.
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The hype surrounding popular memecoin Dogecoin had appeared to diminish recently as new altcoins took centre stage.
The Binance Smart Chain has emerged as a strong contender. Gas fees on the Binance Smart Chain were 14 times lower than on Ethereum at the end of March, according to DappRadar. While Ethereum relies on an open and decentralized community of miners solving complex algorithms (proof of work), the Binance Smart Chain is more centralized and uses a system of closed and prevetted validators (permissioned “proof of staked authority”), which allows it to achieve a higher throughput.
It’s clear now that this bull run isn’t over. Not by a long shot. In our most recent Weiss Crypto Portfolio issue, we said that Bitcoin (BTC, Tech/Adoption Grade “A-”) has entered into a... When it's sunny, you can actually see the ants frantically collecting and storing food, because they know that...
SafeMoon has announced on its website that it’s making moves to be available on Binance and Mandala by the end of 2021, but for now, the crypto is available via PancakeSwap. If you do decide to invest, just remember to do so at your own risk and remember, never invest what you can’t afford to lose.
The blockchain thus prevents double-spending, or the manipulation of cryptocurrency code to allow the same currency units to be duplicated and sent to multiple recipients.
WARREN DAVIDSON: The industry is basically pleading, give us some regulatory clarity.
Investing in cryptocurrency can be as easy as a few taps on your phone, and with crypto all over the news and coming up in conversations with friends, it’s tempting to dive right in. However, depending on your financial situation and appetite for investing risk, crypto might not be an appropriate investment for you right now — or ever.
Bitcoin (CCC:BTC-USD) saw new all-time highs in October, surging more than 24% over the past month. The world’s most valuable cryptocurrency boasts a market capitalization exceeding $1.15 trillion. Now, Bitcoin is hovering above $61,000, up almost 108% year-to-date (YTD). By comparison, the S&P 500 gained 24.4%, and NASDAQ Composite returned 23.4% so far this year. Recent metrics indicate that the global cryptocurrency market was “valued at USD 1.49 billion in 2020 and is projected to reach USD
Scrutiny comes as growing number of investors are looking to tap fast-growing digital asset market
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U.S.-based users could continue to use the service by browsing the site with a VPN. Binance allows its users to sign up for a limited account without KYC — i.e. providing verification documents like a passport copy — which allows trading but limits withdrawals to two Bitcoin per day. That won’t satisfy more professional traders — most of whom you’d imagine would already have an account on Binance by now — but it does leave a loophole for others.
Based in San Francisco, Binance.US is operated by the U.S.-registered company BAM Trading Services which acts as its official partner. Its relationship with the international Binance franchise is strong enough for Binance.US to be designated as its “arm”, yet the Binance CEO Changpeng Zhao claims that he has no "legal titles" or an "operational role" in it. Binance.US is headed by Catherine Coley, a former executive at Ripple.
‘TradFi’ groups say they are investing in digital asset expertise for defensive reasons
The law also states that tax contributions can be paid via Bitcoin and exchanges in the cryptocurrency will not be subject to capital gains tax.
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