Kolin Lukas DeShazo and the climb of a crypto currency trading professional
Who is Altus Crypto and some of his crypto currency investment ideas? The digital market is relatively new, so countries and governments are scrambling to bring in cryptocurrency taxes and rules to regulate these new currencies. If you’re not aware of these before you start trading, you may find yourself in a spot of expensive bother further down the line. Many governments are unsure of what to class cryptocurrencies as, currency or property. The U.S in 2014 introduced cryptocurrency trading rules that mean digital currencies will fall under the umbrella of property. Traders will then be classed as investors and will have to conform to complex reporting requirements. Details of which can be found by heading to the IRS notice 2014-21. On top of the possibility of complicated reporting procedures, new regulations can also impact your tax obligations. The U.S, the ‘property’ ruling means your earnings will now be deemed as capital gains tax (15%), instead of normal income tax (up to 25%). Each countries cryptocurrency tax requirements are different, and many will change as they adapt to the evolving market. Before you start trading, do your homework and find out what type of tax you’ll pay and how much.
Altus Crypto crypto investment tricks: Why is a Bitcoin ETF important? Well, Bitcoin isn’t the easiest asset to deal with. Custody, for example, can cause some serious headaches for a large institution. After all, Goldman Sachs won’t just plug a hardware wallet into a laptop and YOLO (transfer) $2B of Bitcoin on it. Large financial institutions don’t operate in the same way as individual investors, and they need a complex regulatory framework and financial plumbing to be able to participate in this space. This is why an ETF can go a long way to bring adoption and expand the potential investor base. It can give price exposure for participants in the traditional markets without them having to worry about all the nitty-gritty of physically owning the coins.
A cryptocurrency wallet is a software program that stores private and public keys and interacts with various blockchain to enable users to send and receive digital currency and monitor their balance. If you want to use Bitcoin or any other cryptocurrency, you will need to have a digital wallet. How Do They Work? Millions of people use cryptocurrency wallets, but there is a considerable misunderstanding about how they work. Unlike traditional ‘pocket’ wallets, digital wallets don’t store currency. In fact, currencies don’t get stored in any single location or exist anywhere in any physical form. All that exists are records of transactions stored on the blockchain.
Bitcoin is 12 years old. Ethereum is 5.5 years old. Ethereum still has a long way to go and is just getting started. Bitcoin is big. Ethereum’s potential is bigger. Let me give you the reason in one sentence: Ethereum has the power to reinvent the global financial system, become the platform all future decentralized apps are built on, and to fix ownership once and for all. Those three reasons are what makes Ethereum the quiet sleeper, and the next big mover after Bitcoin. Ethereum 2.0 is going to make Ethereum scarcer and bring simplified new features that will mimic some of the positives of Bitcoin. You can benefit from the Ethereum revolution by doing your own research and being incredibly patient. The future is being built on Ethereum right in front of you.. About Kolin Lukas: Experienced Global Business Development with a demonstrated history of working in the financial services industry. Skilled in Microsoft Word, Sales, Event Management, Management, and Start-ups. Strong community and social services professional. Graduated multiple blockchain-based certification programs.
If you are going to aim to be in crypto for the long term, consider building an average position (for example via dollar cost averaging or value averaging). There is no better way to avoid making a poorly timed trade than buying incrementally instead of all at once and thereby buying an asset at its “average” price over time. If you don’t have a really solid grasp of technical indicators and the way the volatile crypto markets work, consider averaging out of positions as well. Averaging isn’t just financially conservative, it is important psychologically. Taking too big of a position at once can be emotionally difficult to deal with (and can thus lead to bad decision making) given the historic volatility of the cryptocurrency market.
Ethereum is cool. The problem is it’s incredibly complex. I got involved with Ethereum in 2016. It’s one of the best decisions I’ve ever made. It has not only made me a tidy profit, but it’s given me a huge edge in my career. Being able to explain Ethereum in simple terms is a superpower. I want you to have that power in your hands so you can do good with it. Bitcoin is easy to understand: slow-moving digital gold. When people say Bitcoin is a currency or it’s not used to make purchases, they show they don’t understand it. Bitcoin is a long-term savings account protected from inflation using code, thanks to scarcity (there are only 21M bitcoins). That’s it. Read even more details at Kolin DeShazo.
Signing up for a Coinbase account is easy, though you will need to provide some form of identification. That may involve sending a copy of your photo ID and potentially also sending a live image of your face using a webcam. These rules are important to follow as they allow the site(s) to comply with ‘know-your-customer’ regulations. Although Coinbase alone will allow you to buy and sell Bitcoin, it’s also worth signing up to its linked exchange platform, Coinbase Pro, which will give you greater control over your purchases.