How to Tax Cryptocurrencies the Right Way

  Despite unpredictable and sometimes violent price fluctuations in Bitcoin, digital money finds buyers, especially those who discovered the power of Bitcoin360. But how do any profits have to be taxed? The good news: Capital gains on cryptocurrencies – also called virtual currencies – can be completely tax-free under certain circumstances. Investment in cryptos: no investment for tax purposes Whether Bitcoin, Ethereum, Ripple, or Cardano: What was once ridiculed as “play money” has long since become a serious alternative to stocks, bonds, or gold for many. But an investment in cryptos is not considered an investment for tax purposes, as …

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Tesla’s $1.5 Bitcoin Investment Sparked Greater Interest for Bitcoin Mining

In an SEC filing last Feb. 08, Elon Musk’s Tesla stated investing $1.5 billion in bitcoins, in line with the company’s future plans of accepting BTC payments. Naturally, Tesla’s move had further boosted bitcoin’s price, bringing it to a record high of $46,800. This new development has sparked greater interest in bitcoin mining, being a more affordable approach to increasing one’s crypto assets. However, those new to bitcoin are unaware that such development is also expected to further increase difficulty in mining the world’s most popular cryptocurrency. While learning to mine bitcoins may be easy, there is more to understand …

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Cryptocurrency Trends That Would Influence Cryptocurrency Transactions

In recent years, the cryptocurrency market has developed and gathered a great deal of attention from existing and potential users. Numerous trends have influenced and prompted the adoption of cryptocurrencies, such as making use of them for quick payments as well as to avoid huge transaction fees from intermediaries, whereas others make investments where they hope the values rise. Cryptocurrency Trends That Would Influence Crypto Transactions With the various cryptocurrency trends, even more people are now showing interest in cryptocurrency. As per Cambridge Centre for Alternative Finance, about 3 million individuals actively engage in cryptocurrency trading at any period. At …

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