However, there are many reasons you should use centralized and registered exchanges. First, too many investors have been fooled by fake exchanges. Second, without knowing where the exchange is based, you won’t have a good sense of the legal ramifications of your investments. Third, should your...
As the owner holds the private key, they have the unique code to access it. Transactions can’t be changed once they are recorded. Limited supply –most cryptocurrencies have a limited and pre-determined supply. How does cryptocurrency work? Cryptocurrencies are designed to work in different ...
How is the Price of Gold Determined? Put simply, all asset classes have one thing in common – the underlying value of the asset is driven by market forces. That is to say, if there are more buyers than sellers, then naturally, the price will go up. Similarly, if there are more sell...
Mining is the process of creating new cryptocurrency tokens. This process involves using software to verify the block on the blockchain to decentralize and form the token. To verify the blockchain, participants need to use computing power and solve transaction-related algorithms. However, there is ...
A crypto wallet is an application that functions as a wallet for your cryptocurrency. It is called a wallet because it is used similarly to a wallet you put cash and cards in. Instead of holding these physical items, it stores the passkeys you use to sign for your cryptocurrency transaction...
Adjusting your withholding will ensure that you don't have too much (or too little) federal income tax withheld from your paycheck. Use Form W-4 to let your employer know how much you want them to withhold.
To understand what NFT games are, best to brush up on your knowledge ofnon-fungible tokens(NFTs). NFTs are digital assets that are unique and verifiable on the blockchain. That is to say; no two NFT tokens are the same; NFTs can be cryptographically associated with real-world items such...
Fidelity examined several theories related to bitcoin, the oldest and currently the largest cryptocurrency by market cap. In a recent study, we compared bitcoin's historical data to that of stocks, bonds, and gold in various contexts. Below is a summary of the key findings. Keep in mind they...
2. Selling cryptocurrency Selling cryptocurrency triggers a taxable event. Your tax liability is determined by several factors: Profit.Your capital gain, or how much profit you earn from selling your cryptocurrency, plays a major role in determining the tax liability. Your profit from a crypto tra...
One of the largest sources of revenue from “crypto crime” is fraud, revenue from which totalled $7.8 billion last year. The FCA has even gone so far as to say that investors in cryptocurrency “should be prepared to lose all their money”. Why are fraudsters targeting cryptocurrency? Fra...