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Cryptocurrency Taxes 101: A Beginner’s GuideCryptocurrency Taxes 101: A Beginner’s Guide! As cryptocurrencies continue to gain popularity, the need to understand their tax implications has become crucial. While navigating cryptocurrency taxes may feel daunting, this guide aims to simplify the basics, helping you get a clearer picture of your tax obligations. In this beginner’s guide, we’ll cover key concepts and steps for handling your crypto taxes confidently. 1. How Are Cryptocurrencies Taxed? In most countries, cryptocurrencies are considered assets rather than currency, similar to stocks or property. This means they’re subject to capital gains tax, with tax obligations arising when you sell, trade, or otherwise dispose of them. Here are common taxable events for crypto: Selling Crypto for Fiat Selling Bitcoin, Ethereum, or other cryptos for USD, EUR, or any other fiat currency is a taxable event. Trading One Crypto for Another Swapping Bitcoin for Eth...

Following the January approval of the investment vehicles, Spot Bitcoin ETFs now hold more than 1 million BTC. Indeed, the total stash of the leading cryptocurrency is worth over $72 billion as the products continue to show their value and investment interest continues to trend upward. According to data from CoinGlass, Bitcoin ETFs saw October 30th inflows reach $896 million. That would indicate the second-largest single-day inflow in the ten-month history of the products, only to b. Leading the way in terms of crypto-based ETFs is BlackRock, whose IBIT has officially surpassed 1 million BTC in assets under management. JUST IN: Spot #Bitcoin ETFs now hold over 1 million $BTC worth more than $72 billion. — Watcher.Guru (@WatcherGuru) October 31, 2024 Also Read: Bitcoin: MicroStrategy Announces $42B Plan For BTC Purchase Bitcoin ETFs Continue to Thrive, Holding Over $72 Billion in BTC Throughout 2024, ETFs have been a key talking point within the crypto industry. The investment vehi...

Chainlink (LINK) creator Sergey Nazarov says that the blockchain industry could grow by hundreds of trillions of dollars due to one main catalyst. In a new interview at the Hong Kong Fintech Week 2024 conference, Nazarov says that Chainlink has developed a way to connect payments giant SWIFT with blockchain technology, opening the door for massive traditional finance (TradFi) adoption. “So the logical next step there is how do we get existing standards like SWIFT to be used for interactions with a blockchain. And that’s the body of work that we demonstrated in its pre-production form where we showed how it’s actually going to work in production. And how it would eventually be used in live trials and how it would be utilized by these big banks and institutions. So that was a really big event and a big milestone for us, because the next step beyond that will be live trials and usage and real adoption of that service. That’s what we’re ho...

Choosing the right token to invest in can be daunting, especially with the overwhelming number of options available. However, thorough research and a solid understanding of the fundamentals are essential for identifying projects that align with investment goals. In this context, four top gainers —Space ID, Sei, Akash Network, and IoTeX—are worth looking at in the market today. They showcase impressive growth potential and embody the innovation and promise that make investing an exciting venture.   Biggest Crypto Gainers Today – Top List A key indicator of a promising cryptocurrency project is its commitment to continuous innovation. In this regard, these top gainers excel. For instance, Space ID is transforming the Web3 domain sector by integrating its Web3 Name SDK into THENA’s Arena leaderboard, which boosts user engagement. Similarly, Sei has attracted over 800,000 new users in just a month, highlighting its growing appeal. Moreover, Akash Network is d...

One of the most popular companies in the world, Apple (APPL), has once again reestablished its dominance as it is set to report its largest revenue growth in two years. Indeed, the company is preparing to unveil its stronger quarterly revenue on Thursday, driven by its iPhone popularity. That earnings call should provide even more insight into what’s to come for the company. Investors will look for any indication of the demand for its recently unveiled iPhone 16 series. Moreover, it has officially launched its first batch of AI tools that could have the company poised to surge to start the year. Source: MacHash Also Read: Nvidia (NVDA) Outshines Apple, Stocks Rally Hard As Firm Targets $200 Apple Set to Make Waves With Earnings as AI Super-Cycle Talks Commence There are few companies with a history of dominance that can match what Apple has done. They were the first to break through the $2 trillion market cap threshold in 2020. Yet, they followed that up by breaking through the $3...

A curious phenomenon in the crypto industry is affecting media coverage of the US presidential election. For four weeks, prediction markets that accept crypto bets like Polymarket and Kalshi have broadcasted decisive and strengthening odds for Donald Trump ahead of Kamala Harris. However, many traditional polls display tighter or Harris-favoring odds over the same time period. Protos has created a side-by-side comparison of election odds on Polymarket and Kalshi versus New York Times (NYT) and Nate Silver since October 1. Their divergence is unmistakable. Click to enlarge. Read more: Pro-Trump whale Fredi9999 is shifting Polymarket odds Is this year’s new crop of ‘real money at stake’ prediction markets providing the media with a more accurate prediction of the November 5 election? Or are these thinly traded and mostly offshore markets easily swayed by pseudonymous traders with a few million dollars? Landslide or sub-1% odds, depending on the citation Trump...

Bitcoin’s surge to $68,000 has caught the attention of major investment firms and billionaires. Bernstein’s ambitious $200,000 price prediction signals strong confidence in cryptocurrency’s future growth. This forecast has sparked increased interest from hedge fund managers and tech entrepreneurs. The potential post-election rally is influencing investment decisions across the cryptocurrency market. New cryptocurrency projects are launching rapidly to capitalize on Bitcoin’s growing momentum. The positive market sentiment is encouraging both institutional and retail investors to explore digital assets. New Cryptocurrency Releases, Listings, & Presales Today After announcing the launch of their app, Sentra is distributing revenues generated through Sentra directly to holders with no staking required. Flockerz has successfully raised $1 million in its presale, attracting massive attention from investors.  1. Lufina ($FINA) Lufina emerges as a revoluti...

The Moonwell price surged 10% in the last 24 hours to trade at $0.0998 as of 00:27 a.m. EST on trading volume that plunged 36% to $23 million. Moonwell Price Could Continue Soaring The WELLUSD chart shows a breakout from a rising channel pattern around mid-October, where the price surged above the upper trendline with increased volume. The breakout from this pattern typically signals strong bullish momentum as traders enter to catch the breakout rally. Meanwhile, the support zone around $0.057 allowed the bulls to push the price of Moonwell through a parabolic surge, according to data from GeckoTerminal . WELL price now trades above both the 50-day and 200-day Simple Moving Averages (SMAs), affirming the sustained bullish trend. The Relative Strength Index (RSI) is currently at 65.67, near the overbought threshold of 70. While the price of Moonwell is not yet in the overbought zone, it’s approaching it, indicating that momentum is strong. The Moving Average Convergence Dive...

The decentralized oracle network Chainlink (LINK) is once again the top-ranked ERC-20 project in terms of recent development activity, according to the crypto analytics platform Santiment. Santiment notes on the social media platform X that Chainlink registered 649.03 notable GitHub events in the past 30 days, nearly double the number of the second-ranked project, Ethereum (ETH), which clocked 342.2. The decentralized oracle project also topped the list in June, July and September. The web3 project Status (SNT) ranked third in the past 30 days, registering 270.57 events. Status aims to offer users a secure messaging app, crypto wallet and web3 browser via an open-source, peer-to-peer protocol and end-to-end encryption. Source: Santiment/X An ERC-20 project is a standard that developers use to issue tokens on the Ethereum blockchain and virtual machine. Santiment notes that it doesn’t count routine updates and utilizes a “better methodology” to collect data for...

Paul Otellini, the former CEO of Intel (INTC) reportedly wanted to buy Nvidia for as much as $20 billion two decades ago. However, the Tech pioneer company ended up not following through with the purchase, seemingly missing out on billions worth of investment. According to a New York Times report, Intel’s former chief executive wanted to buy Nvidia in 2005. At that time, the chipmaker was mostly known for making computer graphics chips. However, Intel’s board did not approve of the $20 billion acquisition. Thus, the purchase never went ahead. Instead, the board was reportedly more interested in an in-house graphics project called Larrabee. Now, Nvidia has become one of the biggest names in the tech sector, thanks to its computer chips used in AI technology development. The company has a market cap of $3.4 trillion market cap, competing with some of the biggest Mag-7 stocks. Intel, on the other hand, has seen its shares fall around 53% so far this year. The company is now worth less tha...

A widely followed cryptocurrency analyst and trader is turning bullish on a memecoin built in the Solana (SOL) ecosystem. The analyst pseudonymously known as Bluntz tells his 286,900 followers on the social media platform X that Popcat (POPCAT) is “about to go parabolic.” Bluntz says that Popcat has stayed “insanely strong” amid a correction in the crypto market over the past few days. “Strength during marketwide pullbacks usually turns into undeniable outperformance during market-wide strength.” Based on a four-hour chart by the pseudonymous analyst who regularly applies the Elliott Wave theory in his technical Analysis , it appears that Bluntz is suggesting that Popcat could surge to above $2.30 in a five-wave pattern. The Elliott Wave theory states that the main trend of the price of an asset moves in a five-wave pattern while a correction occurs in a three-wave pattern. Source: Bluntz/X The pseudonymous analyst also says that Popcat, which had e...