When it comes to age groups, boomers spend 50% more time doing their own research and HODL for a longer time than the younger generations.
Some 12,000 new crypto wallets have bought the memecoin Shiba Inu according to research from analytics firm Nansen.
The post 12,000 New Wallets Bought $56 million SHIB for the Past Seven Days – Nansen appeared first on BitPinas.
Enjoy Buy Load vouchers when you activate and top-up your new GOMO SIM from GLife.
The post Get a GOMO SIM on GLife and enjoy Buy Load vouchers! appeared first on GCash.
Today’s top crypto jobs Philippines listings from Xurpas, Playdex, Cloudchain and more. Find out more web3 jobs and remote roles in BitPinas.
The post Crypto Job Listings | Xurpas, Cloudchain, Playdex | Jan. 24, 2023 appeared first on BitPinas.
The ETH/BTC currency pair has declined 8% since Jan 11, as the price increase in bitcoin has been more pronounced than ether’s; BTC hovers near $23K in Monday trading.
The move will make the Floor user experience more expansive by showcasing data to help educate traders.
Nearly one-fourth of ether burned stems from NFT trades over the past seven days, according to data from ultrasound.money.
The floor price of the collection on the secondary market fell below its minting price of 0.911 ETH in the hours after it opened to the public.
A pair of North Korean hacker groups were behind the June theft of $100 million in crypto assets from Horizon Bridge, the Federal Bureau of Investigation (FBI) said in a Monday statement.
Lawyers for Genesis Global told a New York bankruptcy court on Monday that they’ve been working with their creditors’ representatives and the U.S. Trustee’s Office “around the clock” for the past two months in order to reach a “consensual resolution” w…
FTX’s FTT token was up 8% for the day. Equities closed up.
Advertising-technology company Innovid Corp. CTV disclosed Monday afternoon that it intends to lay off roughly 10% of its staff. Innovid had 396 full-time employees as of Dec. 31, 2021, according to its most recent 10-K filing. The cuts come as Innovid…
It just saw one of the biggest movements of ETH ever, just as its corporate sibling filed for bankruptcy. Its big transfers tend to coincide with big events at the company.
Yext Inc. YEXT disclosed Monday that it plans to lay off about 8% of its staff as part of a restructuring plan meant to cut costs. Once the layoffs are complete, the company, which uses artificial intelligence in search, expects to have about 1,100 emp…
HighPeak Energy Inc. HPK shares rose, following a halt, halted late Monday after the oil and natural gas company said it was exploring strategic alternatives including a potential sale. HighPeak shares rose 10% after hours, following a brief trade halt…
In a month marred by job cuts seemingly everywhere in Silicon Valley, Agilent Technologies Inc. Chief Executive Mike McMullen pledged no layoffs this year in a meeting with employees last week. Shares of Agilent are up 15% over the last 12 months. The…
The crypto-focused venture capital firm is focused on transaction fees, liquidity and usability.
Google’s parent Alphabet Inc. GOOGGOOGL had a “standing interest” in buying Tesla Inc. TSLA, Chief Executive Elon Musk said in court Monday, referring to an earlier deposition. That factored into Musk’s decision to try to take Tesla private then, the C…
U.S. stocks finished at their highest level in a month on Monday as strong performances by consumer-technology giant Apple Inc. AAPL and chipmaker NVIDIA Inc. NVDA pushed the Nasdaq Composite COMP further into the lead. The Nasdaq gained roughly 223 po…
Tesla Inc. Chief Executive Elon Musk is now under cross-examination from his attorney Alex Spiro, saying late Monday that he had “never” tried to deceive shareholders but was fending off short sellers. “I thought it would be good for the shareholders t…
Sumo Logic Inc. SUMO stock soared Monday on a report that the data-analytics software company has been approached by private equity firms expressing interest in a possible buyout. Sumo Logic shares surged more than 30% to an intraday high of $10.25, in…
Rivian Automotive Inc. RIVN said Monday that Jim Chen, vice president of public policy, is planning to leave the EV maker, the latest executive departure at the company. A Rivian spokesperson told MarketWatch it was a “mutual agreement between Jim and …
Oil futures finished little changed Monday, down by just pennies, after ending last week at their highest since November. Oil bulls have been “drawing strength from rising demand hopes as China’s economy re-opens, while a softer dollar seems to be supp…
The miner gained compliance to continue listing on Nasdaq after the minimum bid for its stock surpassed $1 for the last 10 consecutive days.
The decision opens the way for MakerDAO to earn an estimated 2% annual yield on USDC stablecoin deposits.
Gold futures ended Monday with a slight gain, giving up early losses to hold ground at their highest price since April. “For now, gold seems to be able to brush off any bearish factors, such as the risk of recession fading a little and a more optimisti…
Vikasa SPAC Series I Acquisition Corp. VSSAU disclosed Monday that it was withdrawing its filing for its $200 million initial public offering. The blank check company, which was looking to go public, so it can buy a private company and take it public, …
Katherine Dowling, general counsel at the asset management firm, says that because stablecoins are a “narrower issue” lawmakers may be more inclined to tackle the crypto-related framework.
Shares of Hellbiz Inc. HLBZ soared 41.3% in midday trading Monday, and have more than doubled in two days, after the e-scooters and e-bicycles provider said it hired Shareholder Intelligence Services LLC (ShareIntel) to help it combat the alleged illeg…
Gemini has been swept up in the problems of crypto lender Genesis Global Capital, with whom it partnered on an interest-earning product.
A leaked proposal that faces a vote on Tuesday deems crypto assets to be the riskiest, in line with emerging international guidelines.
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In a new blog, Ethereum co-founder Vitalik Buterin outlines a stealth address system that can help overcome the blockchain’s lack of privacy protections.
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The popular new project by Jack Butcher has been embraced by the community through a number of derivative projects, and highlights the power of accessible mints.
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Crypto winter didn’t slow down stablecoin use in Latin America in 2022.
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After crypto exchange FTX’s bankruptcy proceedings revealed poor segregation of customer funds, the New York regulator is reminding service providers to keep clean records.
Following the FTX scandal, Washington is gearing up to regulate crypto with full force. Get all the latest here.
Short-bitcoin investment products saw inflows totalling $25.5 million.
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The crypto app startup was founded by a former Coinbase engineer.
U.S. stocks opened modestly higher Monday as investors await fresh economic data due out later this morning. The Dow Jones Industrial Average was up 0.1% soon after the opening bell, while the S&P 500 edged up 0.1% and the Nasdaq Composite rose 0.2%…
The first set of testing has commenced for the much anticipated Shanghai upgrade, expected in March, that will enable staked ether withdrawals. Some minor glitches were reported.
The so-called “Crypto King of Congress” blames over-centralization and old-fashioned fraud for FTX’s collapse (not crypto). As Congress considers new crypto legislation, can he persuade his colleagues – including the combative Elizabeth Warren – of the…
Price takers have been placing large market buy orders at the same pace as market sell orders, data from Kaiko Research show. However, overall liquidity remains thin, implying a high risk of sudden price crash.
Several senior executives have been arrested in Spain, Europol announced, following founder Anatoly Legkodymov’s arrest in Miami.
Clever Leaves Holdings Inc. CLVR stock fell 1.9% in premarket trades Monday after the cannabis company said it will eliminate 63 jobs as part of a wind-down of its operations in Portugal in the first quarter. Clever Leaves expects to disclose one-time…
Shares of Caesars Entertainment Inc. CZR were ahead about 3% in premarket trading Monday after the hotel and casino operator suggested that it expects revenue for its latest quarter to exceed the consensus view. Caesars anticipates that it generated $2…
There is no law that bans U.S. banks from issuing paper or digital private banknotes, American Institute for Economic Research economist Thomas Hogan argues.
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SBF was crypto’s number one influencer in Washington. Now the collapse of FTX is fueling a crackdown, says Jesse Hamilton.
Takeda Pharmaceutical Co. Ltd. TAKJP:4502 said Monday that it will acquire Hutchmed’s HCMHK:13 experimental cancer treatment outside mainland China, Hong Kong and Macau, with plans to develop and commercialize fruquintinib. Per the terms of the deal, T…
Shares of Western Digital Corp. WDC were rising 4% in premarket trading Monday after Bloomberg News reported that the memory company was “progressing” in its merger talks with Kioxia Holdings Corp. The companies are discussing a spinoff of Western Digi…
The latest price moves in bitcoin (BTC) and crypto markets in context for Jan. 23, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
Franklin Electric Co. said Monday it will raise its quarterly dividend to 22.5 cents per share, that represents a 15.3% increase from the prior dividend of 19.5 cents a share. The new dividend will be payable Feb. 16 to shareholders of record on Feb. 2…
Shares of Pliant Therapeutics Inc. PLRX soared about 75% in premarket trading on Monday, the day after the company said a high dose of its experimental treatment for idiopathic pulmonary fibrosis met the primary and secondary endpoints in a Phase 2a cl…
Verb Technology Co. Inc. VERB, a provider of interactive video-based sales apps, has become the latest small-cap company to announce plans to address naked short selling of its stock, among suspected trading violations. The Newport Beach, California an…
Recent gains are unlikely to presage a sustained advance, the report said.
Shares of PayPal Holdings Inc. PYPL were off more than 1% in premarket trading Monday after The Wall Street Journal reported that the big banks were working on a digital wallet meant to ease the process of purchasing online with debit and credit cards….
Enlight Renewable Energy Ltd. has filed an initial public offering to trade its stock on the Nasdaq under the symbol ENLT with underwriters JPMorgan JPM , BofA Securities BAC , Barclays, Credit Suisse, Wolfe/Nomura Alliance and Roth Capital Partners. E…
Community members staked over 20 million UNI tokens to cast their votes.
The country, which made bitcoin a legal tender in April, wants to pave way for greater crypto adoption.
The Philippine Stock Exchange, Inc. (PSE) ushered in the Year of the Water Rabbit with a lion and dragon dance at the PSE Tower. Directors and Officers of the PSE rang the opening bell on the first trading day in the lunar new year. “In the Chinese culture, the rabbit is known to be the…
Under the industry’s self-regulation code, advertisements must clearly warn users of investment risk and social media influencers shouldn’t offer trading advice.
CoinGecko noted that the number of stolen funds is relative to the market cycle, as the stolen funds peaked as the market started to fall.
The post Crypto Industry Lost $2.8B Due to Hacks in 2022, Highest in Decade appeared first on BitPinas.
Some 4.8 million AXS tokens, the equivalent of 1.8% of the cryptocurrency’s total supply, will be freed up later Monday.
A short-lived outrage that affected over 50% of the network was automatically solved within minutes on Sunday.
People always want to trade at the best price in a market as volatile as cryptocurrency. Choosing the best alternative after manually comparing the pricing provided by other DEXs is one approach to achieve this. However, it takes a long time to complete that process.
In this article, let’s learn more about Matcha and its financial prospects.
- Matcha is a child product of 0x Labs and functions as a decentralized exchange (DEX) aggregator that supports ERC-20 tokens.
- Matcha connects to at least 10 liquidity sources to find the best available market price as opposed to other DEXes using a single liquidity source.
- With arguably the best user interface among DEXes on Ethereum, Matcha makes it for newbies and OGs to navigate and trade easily on their platform.
- There’s no native token for the Matcha platform yet, but it supports over 20 ERC-20 tokens.
What Is Matcha Crypto?
As a decentralized exchange built on Ethereum, Matcha aggregates liquidity from exchange networks like Ox Mesh, Kyber, Uniswap, Curve, and Oasis to offer customers the best pricing when trading tokens.
Many decentralized exchanges run on Ethereum, and Matcha stands out as having DEX’s most straightforward user interface.
Matcha crypto trading platform powered by 0x Labs and utilizes the Ethereum smart contract infrastructure to enable tokens peer-to-peer exchanges for users. Since it’s a DEX, users maintain full custody of their tokens during every trading process.
To maximize the value users get from every deal, Matcha collects the best rates from an increasing number of liquidity sources. Matcha never retains the difference between quoted and realized prices, in contrast to certain other DEX aggregators, and transparently exposes all fees and costs related to trades.
There are no platform fees for trades at this time on Matcha. The transaction fee for each trade you make on Matcha is composed of an Ethereum gas fee and a 0x protocol fee (if 0x liquidity is used). Your total order fee will vary depending on which decentralized exchanges are used to generate the liquidity. For instance, the base price for each trade on most DEXs is 0.3%.
Who Are the Founders of Matcha Crypto?
Matcha is a product of 0x Labs. After developing the 0x protocol and assisting others in creating fantastic DeFi products for a few years, 0x Labs had a ton of fresh ideas for facilitating the entry of more individuals into interesting new markets. With this insight, 0x created Matcha, a straightforward decentralized crypto exchange made for everyone, to reinvent the exchange experience and lay the groundwork for onboarding the upcoming wave of cryptocurrency traders.
All types of value will be tokenized on open blockchains, according to 0x Labs’ vision. This includes fiat money, stocks, bonds, commodities, debt instruments, real estate, video game items, digital collectibles, software licenses, reputation, and a wide range of other things.
Why Was Matcha Crypto Created?
The continuous emergence of Automated Market Makers (AMMs) is one of the most revolutionary changes in the current decentralized financial landscape. However, due to the abundance of AMMs, aggregators like Matcha have become necessary.
At the moment, AMMs are the most widely used decentralized exchange. They trade token pairs using algorithms rather than order books and utilize smart contracts to build liquidity pools. Examples include Balancer, Uniswap, and Curve, all Ethereum-based.
There is often a price differential between the many decentralized exchanges at any given time since AMMs use liquidity pools to determine trading prices. Aggregators like Matcha have become very helpful because they combine all the networks to determine the best rate for the user.
Matcha was built to help users save money from multiple decentralized exchanges, find the best prices, and easily trade tokens peer-to-peer.
Why Is Matcha Popular?
The homepage has a search area and token shortcuts, which is the first thing you’ll notice. On some exchanges, accessing the markets entails selecting the desired assets from two different dropdown boxes. Any token or combination you’re looking for may be easily entered using Matcha search, allowing you to enter the market and start trading immediately.
At some point, you’ll be able to trade thousands of possible pair combinations over hundreds of different assets. Therefore, Matcha optimized the platform so that traders may identify and move to any markets they’re interested in as quickly as possible with fewer interactions.
Token Shortcuts and a Search Field
To begin trading on other exchanges, users must navigate the trading website and select one or more tokens from two dropdown menus. However, the default search box on Matcha’s home page allows users to enter the assets they wish to trade and immediately be taken to the relevant trading market.
For newcomers to the DeFi landscape, technical words while using DeFi services can be a barrier. Matcha recognizes this and converts each technical term into a user-friendly language. Users benefit from a better trading experience, avoiding any losses brought on by misunderstandings.
What Is Matcha Token?
At the time of writing, it has yet to be confirmed that Matcha has released a token. Although, there are rumors about a possible airdrop.
How Does Matcha Crypto Work?
We must examine three of Matcha’s internal ingredients to understand how Matcha works. Matcha searches all decentralized exchange (DEX) networks and individual market makers first to determine what price is best for you at that precise moment. Matcha uses intelligent order routing to ensure your trade is carried out quickly and effectively after the best price has been determined. Finally, we leverage meta transactions and gas tokens to further lower transaction costs for traders, saving you money on Ethereum gas fees.
Matcha collects liquidity from increasing sources, including 0x, Uniswap, Balancer, Curve, Kyber, Oasis, and others, in contrast to other exchanges that only employ one source of liquidity. Matcha gathers pricing information from all liquidity sources at the time of your trade, much like a media aggregator would (for instance, Google News or HuffPost for news, and MetaCritic or Rotten Tomatoes for reviews).
To give you the best price/least amount of slippage, Matcha divides your transaction among various sources of liquidity via an automated procedure known as “smart order routing.” Larger trades benefit the most from smart order routing, where a single source is unlikely to provide you with the best value.
DEX Aggregation & Smart Order Routing
To find the most affordable pricing, Matcha combines all of these networks. As soon as the optimal rate is found, Matcha’s order routing algorithm automatically distributes transactions throughout these several DEXs to maximize the overall return for traders. Smart order routing is the name of this procedure.
To help travelers find the greatest offers, Matcha goes one step further by executing a transaction instantly after the best price is identified, relieving customers of the burden of worrying about price shopping when they wish to trade.
Meta Transactions & Gas Tokens
For traders to trade without being concerned about Ethereum network congestion, 0x Labs has been experimenting with a number of various techniques to lower fees. Meta transactions, commonly referred to as gas-less deals are the first.
Meta transactions make it possible for traders to communicate with Ethereum without paying gas fees, which results in a seamless trading experience since customers no longer need to comprehend how blockchains operate or the workings of the fee market. To help traders pay their gas fees, Matcha can sign and authenticate transactions on their behalf.
The use of gas tokens, which enables Matcha to harvest tokens and lock in low gas prices to be used when gas prices rise, has also been investigated by 0x Labs. Matcha does not apply these methods to every deal — it is important to keep this in mind.
Is Trading on Matcha Safe?
It is quite safe to trade on Matcha. The 0x v4 smart contracts Matcha employs have undergone auditing by ConsenSys Diligence and comprehensive testing by 0x Labs.
Additionally, when you do a deal on a decentralized exchange like Matcha, as opposed to a centralized exchange, where your tokens may be mismanaged or lost, you maintain full custody of your tokens throughout the whole trading process.
Matcha makes the process simple, even if decentralized finance can be intimidating for some individuals, especially when trying to ensure you’re receiving the best bargain possible. Finding the best trading price on Ethereum is now achievable with just a few clicks, thanks to Matcha’s integration of the top decentralized exchanges on one straightforward interface.
Matcha wants its users to always feel knowledgeable and in charge when using the platform. In addition to protecting you and your money, Matcha ensures full transparency about fees and the current state of the market.
NFT markets on Aptos are seeing growth among Crypto Twitter community users.
SEC has issued a warning to the public regarding FDMS Business which is allegedly soliciting investments without the necessary license.
The post Promising Earnings of Up To 50% Per Month, SEC Flags FDMS Business appeared first on BitPinas.
According to eToro, while the rise in the number of retail investors was in 2020, 2022 was the “initiation test” because of the bear market.
The post ‘NOT WORRIED’: 2/3 of Retail Investors Still Positive Amid Crypto Winter — Report appeared first on BitPinas.
Today’s top crypto jobs Philippines listings from Investa, GCash, Plerk and more. Find out more web3 jobs and remote roles in BitPinas.
The post Crypto Job Listings | Investa, GCash, Plerk, nXscale, Infinit-O | Jan. 23, 2023 appeared first on BitPinas.
Oriental Peak Mining promises a guaranteed 5% daily profit, or a total profit of 300% for 60 days, 225% for 45 days, or 100% for 15 days.
The post 5% Daily Profit? SEC Flags Down Oriental Peak Mining’s Online Investment Scheme appeared first on BitPinas.
Nowadays, being connected and immersed in the digital world is part of everyday life. From hours of trawling through the internet, watching cat posts on Instagram or Ask Me Anything (AMA) Videos on YouTube, and stalking well-known celebrities’ Facebook or Twitter accounts, we’re all living our lives behind a screen. However, whilst the internet helps us stay connected with friends, make money online, or enjoy our free time, sometimes we genuinely want to step away from the screen of our mobile phone or iPad for a little bit of digital detoxing, helping us pursue our life goals, enjoy our relationships, and much more. Moreover, we often face lengthy app interruptions or internet connection problems forcing us to re-imagine life without our smartphones or other tech devices.
So, the next time you’re faced with the impossibility of staying productive when dealing with these difficulties or you have no clue how to kill time when your Wi Fi is down, don’t worry or feel lost, instead check out our backup plan for staying on top of your game when your favorite apps go down.
So without further delay, let’s look into fun things to do on your phone or other devices while waiting for the Internet connection to be back!
- Whilst the internet helps us stay connected with friends, make money online, or enjoy our free time, sometimes we genuinely want to step away from the screen of our tech devices for a digital detoxing.
- We often face lengthy app interruptions or internet connection problems forcing us to re-imagine life without our smartphones or other tech devices.
- You can do so many fun things and focus on real-life social interactions while refraining from using tech devices for a while.
1. Read Articles Offline
If you enjoy reading articles, you can prepare by installing Pocket, which allows you to save your favorite articles, tweets, recipes, etc., to read later. While coming across an item on your smartphone that you might want to read later, select Pocket from the share option and store it. Additionally, you can use the app’s Discover feature to access a curated selection of articles depending on your interest. Download Pocket’s browser extension if you’re working on a PC.
Newsstand app, available for both iOS and Android, is another good app for downloading newspapers and magazines, which you can read when you don’t have an internet connection. It’s a single place where you can keep your free and paid subscriptions. Moreover, it saves entire publications and downloads new content when you have internet for offline reading later.
2. Go for a Walk
Going for a long walk may sound obvious, but it’s basically one of the simplest (and cheapest) things you can do when you want to give up your mobile phone, computer, and other devices for a brief time. Getting outside for some fresh air, whether it’s a leisurely stroll around your neighborhood park or a fast walk to a friend’s house nearby, will be helpful for letting go of the stress that stems from constant connectivity. Moreover, you can go for a walk with your mom or friend and take advantage of real-life social interactions while simply talking or discussing ideas with them. Some other great digital detox ideas are to play with your dog in the nearby park or go for a bike ride to get lost in nature or the city.
3. Make Some Phone Calls
Consider all the calls you need to make but haven’t had the time to prioritize. Do you need to book a haircut? A doctor’s visit? A veterinary examination for your dog? When was the last time you called your parents? Surprise your friend with a call and talk about your next meet-up or lend an ear and listen to what they have to say instead of DM-ing or tweeting them. If your internet is down, but you still have cell service, take a few minutes to cross a couple of these numbers off your list.
4. Make a To-Do List
You may be disconnected right now, but your internet connection will, of course, be restored sooner or later. So, this is a perfect moment to grab a pen and a piece of paper and make a to-do list of tasks to complete, including effectively organizing and prioritizing the tasks. You can also plan a get-together to never forget, such as a party with friends or a picnic or a meal plan for the week.
Alternatively, several to-do-list applications, such as Google Calendar and Evernote, can still be used while you are offline. You simply need to be logged in to Evernote before you lose your internet connection, and whatever you enter while offline will be synchronized the next time you connect.
Any.do is another task management app that provides the best tools for perfectly organizing to-do lists and managing your calendar. It has a great offline productivity app that makes any tasks you’ve already synced with your phone or computer available, and any changes you make will be uploaded to your account whenever you next have a connection. So make it a point to take control of your to-dos by keeping track of them.
5. Listen to Podcasts Offline
Podcasts are one of the most popular ways to get information or entertainment these days, as you can listen to them in the car, at the gym, etc. However, if you don’t have an internet connection, you can still listen to podcast episodes; it just requires a little planning.
Individual podcast episodes can be downloaded (or “saved”) to your iOS device using Apple’s Podcasts app (which you can get through iTunes if it isn’t already on your device). This allows you to listen to podcasts even when you’re offline. So, to prepare for your commute or other times with no access to the internet, we recommend downloading a large number of podcast episodes in advance.
To store an episode on the Podcast app, follow these steps: Find your podcast episode, click the three dots to the right of the title, and select “Save episode.” The download may take a few minutes to complete. Once the podcast is downloaded, you can listen to it online or offline from the “My Podcasts” tab.
If you have an Android smartphone, you can listen to podcasts both online and offline with the Stitcher app. To listen to previously downloaded podcast episodes without an internet connection, use the “offline mode.” You can either download these episodes individually or configure Stitcher to download new episodes of podcasts you’re subscribed to whenever you have internet access.
Interested in What Is Decentralized Finance (DeFi), but short on time? You can listen to it on the CoinStats blog while on the go and boost your knowledge about DeFi.
6. Take a Break
Why not take a break and relax when you don’t have internet access? Taking breaks has been proven to increase productivity by enhancing alertness, focus, and work speed.
Take a stroll, nap, meditate, spend a little time reading, or meet a coworker for coffee and speak about something other than work. We propose the free software Headspace (available for iOS and Android), which will walk you through the fundamentals of meditation in just 10 minutes.
During detoxing from digital devices, you can also cook new things, write a blog post on paper, practice your forgotten skills, learn a new language, or how to play the piano, etc.
7. Hold an Unscheduled Staff Meeting
Did your internet go down when everyone was at work? If you enjoy engaging with other people but want to keep things work-focused, an internet outage might be the ideal moment to gather the team to brainstorm, check up on the progress of everyone’s projects, or discuss scheduling or concerns that you might not usually have time to catch up on.
8. Download Apps to Watch Offline
When it comes to entertainment, video games aren’t your only option. You can also download apps to your phones for practically every streaming service available to watch your favorite shows wherever you are. Some services will allow you to download episodes of your favorite series to your device so you can watch them without internet connectivity or after exhausting your data plan.
By temporarily forgoing digital devices, you can let go of the stress that stems from constant connectivity.
9. Write Thank-You Notes
While you’re disconnected, why not be thankful for all the beautiful things in your life or handwrite a few thank-you cards to folks who’ve made a difference in your life?
Even if you don’t have any stationery on hand, you can write down the thank-you notes on a piece of paper to transcribe into a finer piece of stationery once you get it. Here’s a Hallmark thank-you note template to get you started.
10. Organize Your Space
What better opportunity than now to finally get that cluttered drawer under control or look through old stuff and donate old clothes to charity? Keep your mind (and hands) busy for at least an hour by cleaning out and arranging your room/drawer, kitchen, etc.
No matter how well-organized you are, chances are you still have a mountain of outdated documents cluttering up your home office/office desk. Pull out your paper shredder and help yourself by decluttering your desk (and mind). Unsubscribe from mailing lists to free yourself from the burden of deleting emails, update your contact list and delete listings you don’t ever contact, connect your email accounts to send and receive email from your smartphone, etc.
11. Make a Playlist
Many of us listen to music while working because it helps us stay “in the zone.” When we listen to music we enjoy, the nucleus accumbent of our brains activates, releasing dopamine: the incentive and pleasure neurotransmitter.
While you may not be able to access the songs individually when you’re offline, depending on how you listen to music, you can still create a playlist to enjoy when the internet is down. If you use iTunes and have already downloaded the music you wish to listen to, you can create a new playlist at any time, whether you’re connected or not. Spotify’s “offline mode” function available to premium customers enables you to create and listen to playlists offline; however, you must connect to the internet at least once every thirty days to save your offline music preferences.
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Are you ready to take control of your crypto investments and make the most out of them, even during the crypto winter? Cryptocurrency investing can be stressful during market downturns, but understanding tax-loss harvesting may help you reach the next…
More than 10 years have passed since the introduction of Bitcoin. During these years the segmented cyberpunk and cryptographic movements evolved into the Crypto community. Nowadays, the Crypto community has a prophet – Satoshi Nakamoto – symbols and slang – a specific language generated by crypto supporters.
Words such as mooning, shilling, funding, “pump and dump”, FOMO, and DYOR – the list goes on – are commonly used as the slang of crypto enthusiasts. However, HODL is by far the most common of these terms and one to which almost all crypto traders can relate.
“Hodl – slang in the crypto community for holding the coins rather than selling it.”
HODL is a term used by crypto investors which means they’re holding Bitcoin or other digital assets for an extended period, focused on the long-term outlook and regardless of the short-term market fluctuations. If you’re wondering whether HODL is a rewarding investment strategy helping you navigate extreme fluctuations in the crypto market, we’ve got you covered. This article will give you an in-depth understanding of the HODL meaning and answer such questions as “what does HODL mean” and whether you should use it as an alternative to profiting from short-term trades.
Let’s get right to it!
- The term HODL originated in 2013 out of a typing mistake.
- It has since become an investment strategy for digital currencies and means holding Bitcoin or other digital assets for an extended period, focused on the long-term outlook and regardless of short-term market fluctuations.
- HODLing crypto has proven to be very profitable for long-term gains in popular cryptocurrency tokens such as BTC, ETH, etc.
What Is HODL?
HODL originated from an almost decade-old typing mistake. On 18th December 2013, a user with the name “GameKyuubi” posted on the Bitcointalk online forum titled “I AM HODLING.” In the crypto forum, GameKyuubi described what a bad trader he was and how he planned to “hold” his Bitcoin (BTC) investments. He concluded that the best course was to hold since “You only sell in a bear market if you are a good day trader or an illusioned noob. The people inbetween hold. In a zero-sum game such as this, traders can only take your money if you sell.”
This four-letter typo embodies the idea that blockchain and crypto will transform society and unlock huge resources for the people who continue to trust in crypto even during the moments of difficulties. The term “HODL” now jumps up whenever the crypto market drains and sends the message to holders not to sell.
In no time, the HODL meme spread among crypto traders throughout crypto markets. The HODL community encourages other investors not to sell their crypto when prices rise or even when crypto prices fall during a bear market. As the Bitcoin price in 2013 was notoriously volatile, Bitcoin investors found the buy-and-hold strategy rewarding. New investors are the ones most likely to profit from this type of crypto strategy, giving them enough time to explore the crypto industry.
Crypto enthusiasts have taken what was clearly a misspelling of the word “holding” and described it as an acronym for “hold on for dear life,” referring to the cryptocurrency strategy of not selling your digital assets even amid market volatility. While this is not how the term originated, this explanation expresses the real investment strategy HODL represents.
It’s also worth noting that HODLing works the same way it has traditionally worked for investing in the stock market when the guideline is to HODL stocks for at least five years to benefit from your investments.
Is HODL A Good Investing Strategy?
Now that we have a good idea of what HODL means let’s discuss whether it’s the right approach for you. Investing in digital currencies is risky due to their price volatility, and the risk becomes even greater because the crypto market is unregulated. In this sense, HODLing crypto has proven to be very profitable for long-term gains in popular cryptocurrency tokens such as BTC, ETH, DOGE, etc.
However, this isn’t the case for most cryptos with no long-term prospects. No matter how hard crypto investors might hold on for the dear life of these tokens, they might still end up becoming worthless, generating a loss for investors who employed the HODL strategy.
Additionally, many crypto investors apply the HODL strategy toward their trades because they believe that blockchain technology and blockchain assets will eventually replace fiat money — and that HODLing their assets will lead to value appreciation in the long term.
As you can see, HODLing crypto is not a one size fits all investing strategy, and you must make a well-informed decision about which tokens to invest in and whether to HODL tokens or sell them when the price increases.
When Should Crypto Investors Use HODL Strategy?
Whether HODLing is a promising approach for you depends on your experience and goals as an investor. If you’re a day trader hoping to profit from the rapid price swings in short-term trades, then HODLing will mean missing the opportunities to benefit from short-term price fluctuations in the crypto market.
However, we’ll suggest HODLing if you wish to build wealth in the long term, given you choose the right cryptocurrency tokens for long-term investment. Moreover, you can HODL based on the belief in the cryptocurrency’s mass adoption.
HODLing also has several benefits if you’re new to the cryptocurrency market. It will save you from the risks of short-term investing strategies that might make money faster but at the cost of a steep learning curve. It will also help you make money from your crypto investments while taking your time to get trading experience.
The disadvantage of HODL is the amount of time needed to make a profit and the fact that the investors miss the opportunities to benefit from short-term price fluctuations in the crypto market.
What Is the Best Crypto Investment Strategy?
The high volatility of cryptocurrency prices and the recent collapses of LUNA, FTX, etc. make crypto investment a risky endeavor, so what investment strategy is best for cryptocurrency investors to adopt?
The answer is investing in a diversified portfolio to mitigate risks and reduce losses. Once you build your portfolio, you can lend your crypto to a liquidity pool to earn more tokens, earn rewards through staking, etc. HODLing will also give you time to get investing experience required for short-term trading. And, in case you decide to simply HODL, thoroughly research the token you’re investing in and ensure it has long-term value.
Crypto Acronyms You Need to Know
Here are some of the acronyms widely used by the crypto community and associated with HODLing:
FUD: Fear, Uncertainty, and Doubt. HODL investing can help investors control the emotions associated with FUD.
FOMO: Fear Of Missing Out refers to people jumping into trades when a crypto price is at its highest. HODL investing can help investors control the emotions associated with FOMO.
Diamond Hands: Extreme form of HODLing.
Paper Hands: Refers to people without diamond hands.
HODL strategy helps crypto investors to escape from the crypto market’s high volatility and not move with the market sentiment.
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In the cryptocurrency market, prices alone can be a misleading indicator for evaluating a project’s true potential and value. Cryptocurrency prices may rise and fall dramatically based on factors such as changes in circulating supply, public enthusiasm, etc. This is why investors use market capitalization as a crucial measure for evaluating and ranking assets and determining their growth potential. Larger market caps generally indicate more investors, relatively more stability, and more influence in the crypto space.
This article will delve into the question of “what is crypto market cap” and how to use it to compare the total value of one cryptocurrency with another to make more informed investment decisions.
Let’s get right to it!
- Market cap indicates data on any given cryptocurrency, including its market position and dominance compared to other cryptocurrencies. That’s why it’s considered a more precise metric than the cryptocurrency price and is used when ranking cryptocurrencies.
- Cryptocurrency market cap measures the market value of a cryptocurrency and is determined by the current market price of a token or coin multiplied by its circulating supply.
- Larger market caps generally indicate more investors, relatively more stability, and more influence in the crypto space.
- Low market cap coins are considered speculative yet potentially lucrative projects.
What Is Crypto Market Cap?
Cryptocurrency market cap measures the market value of a cryptocurrency and is determined by the current market price of a token or coin multiplied by its circulating supply. Investors can rely on the market cap as a reliable and crucial piece of data that can significantly increase their chances of success.
Market cap indicates data on any given cryptocurrency, including its market position and dominance compared to other cryptocurrencies. That’s why it’s considered a more precise metric than the cryptocurrency price and is used when ranking cryptocurrencies.
High market cap cryptocurrencies are more reliable and give you more confidence, while low market cap coins are seen as speculative and risky, yet potentially lucrative projects.
Pro-tip: It’s crucial to differentiate whether one uses FDV or circulating supply as a metric. FDV, or a fully diluted market cap, is calculated based on the total number of coins, not just the ones in circulation.
Another alternative method includes the maximum supply, where market capitalization is calculated by multiplying an asset’s current price by the maximum number of coins that could ever exist. However, not only a higher circulating supply does affect the price of cryptocurrencies, but also some coins have no upper limit.
Factors Affecting the Market Cap
The factors that affect market capitalization are supply and price.
The cryptocurrency market cap is affected by the supply of the given cryptocurrency. When demand increases faster than supply, the price increases, potentially impacting its overall market cap. Bitcoin, for example, has a fixed supply of 21 million bitcoins – its supply is scarce, and this scarcity drives its value up. Others, like Ethereum, don’t have a fixed total supply, but some ETH is burnt or sent to an unrecoverable address on the blockchain to prevent the circulating supply from growing too large. As a result, the supply of Ethereum in circulation is now declining. Some other cryptocurrencies created by companies have an unlocking schedule. To create scarcity and maintain value, only a portion of their total supply goes into circulation at the time of their initial coin offering, and the rest will unlock over a set period.
Even when a small number of coins is in circulation for a given cryptocurrency, its market cap will rise significantly if the price is high. A cryptocurrency’s high price, even with a low circulating supply, leads to a large market cap. Conversely, if a cryptocurrency has a high circulating supply but its price is low, it may not have a large market cap.
A weighted market cap strategy means you put a proportional investment into each asset based on market cap.
How to Use Crypto Market Cap as an Investment Tool?
Now that you know everything about the crypto market cap let’s understand how to use it to your advantage to make well-informed investment decisions.
Cryptocurrency Market Cap Classification
If you’re looking to invest in a relatively stable cryptocurrency, then select the ones with the highest market cap. We can break down cryptocurrency market cap sizes into three categories:
Digital currencies with a market cap of more than USD 10 billion are considered large-cap cryptocurrencies. These are considered low-risk investments because they’ve demonstrated sustainable growth and have higher liquidity. Their prices are also less likely to rise or fall drastically. Some examples are BTC, ETH, USDT, BNB, USD Coin, etc.
These are cryptocurrencies with market caps between USD 1 to 10 billion. The medium-cap segment is considered high-risk and high-reward due to its untapped potential. Some examples include Polygon (MATIC), Internet Computer (ICP), Axie Infinity (AXS), Stellar Lumen (XLM), VeChain (VET), Dogecoin (DOGE), Shiba Inu (SHIB), Litecoin (LTC).
These are cryptocurrencies with market caps of less than USD 1 billion. While these projects carry the highest levels of risk, they can also be extremely rewarding. eCash (XEC), NEO, USDD, Bitcoin Gold (BITG), and Nord Finance (NORD) are some of the exciting small-cap cryptocurrencies.
Crypto Weighted Market Cap Strategy
A weighted market cap strategy means you put a proportional investment into each asset based on market cap. So, for example, to invest $100 in the two biggest cryptocurrencies, Bitcoin and Ethereum, you must take the total market capitalizations of both, then divide out the percentages each crypto holds in that total (71% Bitcoin and 29% Ethereum). Accordingly, you’d invest about $71 in Bitcoin and $29 in Ethereum.
A crypto market cap is an important metric that indicates the asset’s market value and the investors’ trust in the project. Along with such basic parameters as the cryptocurrency’s price, circulating supply, hashrate, and trading volume, a market cap enables you to assess the cryptocurrency’s performance before investing.
Please compare the total value of cryptocurrencies, the market trends, a cryptocurrency’s stability, and your own financial situation when weighing the risks of any investment. Cryptocurrency is a highly volatile market sensitive to secondary activity, do your independent research, obtain your own advice, and practice due diligence before interacting with smart contracts.
You can find the current price, charts, price statistics, market cap, total supply, max supply, circulating supply, 24h trading volume, etc., of different cryptocurrencies, including new coins, and get updates in real-time on CoinStats, one of the best crypto platforms around.
You’re welcome to visit our CoinStats blog to get a broader perspective on decentralized finance and how it seeks to empower people. You can also read our articles, such as What Is DeFi, explore our in-depth buying and staking guides on various cryptocurrencies, such as What Is DeFi Staking, How to Stake MATIC, How to Stake Ethereum, How to Buy Cryptocurrency, and learn more about wallets and exchanges, portfolio trackers, etc.
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The crypto industry is continuously gaining popularity due to such notable advantages over traditional money as decentralization, privacy, security, accessibility, fast transaction speed, low charges, and more. You might be engaging with cryptocurrencies as a vehicle for exchange or a store of value; or benefiting from DeFi’s transparent, secure, and inclusive financial services. Whether you’re receiving cryptocurrency as payment, exchanging different cryptocurrencies, selling assets, staking, trading, and mining crypto to make life-changing money, achieve financial freedom, and earn passive income, or simply collecting NFTs, understanding your crypto taxes is paramount for avoiding an IRS audit and substantial fines related to tax fraud. The taxation policies differ depending on your location, the type of digital assets you’re holding, your profit and losses, etc.
For example, U.S. law deems cryptocurrencies as capital assets subject to capital gains and capital losses, just like stocks or bonds.
So how much is crypto taxed? If you’re wondering which transaction is considered a taxable event and trying to figure out the complex tax landscape marked by digital currencies, we’ve got you covered. This article will tell you everything you need to know about your crypto taxes, how your gains and losses in crypto transactions affect your taxes and demonstrate how to navigate cryptocurrency tax implications successfully.
Let’s get right to it!
- The IRS treats virtual currencies as property and classifies cryptocurrency transactions as taxable by law.
- To determine if you must pay taxes, you need the cost basis, i.e., the total amount paid to purchase your crypto, and compare it to the crypto’s sales price.
- Crypto tax rates depend on your income, tax filing status, and the length of time you owned your crypto before selling it.
What Are Crypto Taxes?
The crypto economy achieved a market capitalization of more than US $3 trillion in 2021, i.e., more significant than Microsoft’s market valuation at $2.52 trillion and Apple’s $2.47 trillion market cap. DeFi introduces decentralized low-cost, high-speed transactions, but it also makes it difficult for tax authorities to come to grips with the exponential growth in digital assets. While precise guidelines on crypto taxes on the purchase, ownership, and sale vary widely between jurisdictions, in the U.S., the IRS treats virtual currencies as property and classifies cryptocurrency transactions as taxable by law. Therefore, users must report any taxable event, with failure to do so resulting in penalties.
You owe taxes when you sell, trade, exchange virtual currency, or make a profit through crypto in any way. The different types of taxable events for cryptocurrency transactions are purchasing goods or services using crypto, trading different kinds of cryptocurrency, or selling crypto for fiat currency. Additionally, if you send crypto to your friends, family, or loved ones as a gift, you’ll need to file a gift tax return if it exceeds $15,000 per recipient. However, these are only considered taxable income if your crypto’s value has increased. To determine if you must pay taxes, you need the cost basis, i.e., the total amount paid to purchase your crypto, and compare it to the crypto’s sales price. If you recognize a loss, you can deduct that to lower your taxable income by a maximum of $3,000, with additional losses to be carried over to future years. You can also offset your capital losses against your capital gains to reduce your overall tax bill.
Crypto tax rates depend on your income, tax filing status, and the length of time you owned your crypto before selling it. If you held it for 365 days or less, then you generally pay short-term capital gains taxes, which are equal to income taxes, i.e., the same tax rates you pay on all other income – 10% to 37% for the 2022-2023 tax filing season, depending on your income level. If you have owned it for longer, you pay less, i.e., long-term capital gains taxes ranging from 0% to 20%, depending on your income level.
Since 2021, IRS Form 1040 asks recipients if they have received, sold, exchanged, or disposed of another financial interest through virtual currency at any point throughout the year. It has also been clarified to specify only taxable events, including receiving cryptocurrency as payment, airdrops, exchanging different cryptocurrencies, selling assets, and earning from mining and staking. It’s important to note that if you’re self-employed and running a crypto mining business, you’ll also need to pay Self Employment Tax to cover your Medicare and social security contributions.
What Is Crypto Income?
Crypto income is taxed as ordinary income at its fair market value on the date the taxpayer receives it. You must keep records of all your cryptocurrency transactions, including how much you paid for crypto, how long you held it, and how much you sold it for, as well as receipts for each transaction and note the fair market value of the cryptocurrency when it was used to get an idea of how much tax you owe. While buying cryptocurrency isn’t a taxable event, selling it is considered a taxable transaction. Here are the most common examples of what is considered crypto income:
- Mining or staking rewards.
- I am receiving crypto as a mode of payment for goods or services.
- Earning through play-to-earn games.
- Financial interest earned through lending pools.
- Earning through liquidity pools, etc.
Use tax loss harvesting. If you’ve had gains and losses on different cryptocurrencies, you can sell both and use the losses to offset your gains.
Crypto Transactions That Will Not Incur a Tax Liability
While you must pay taxes on personal income, capital gains, and business income from crypto, here are a few crypto transactions that will not incur a tax liability:
Buying Cryptocurrency Using Fiat Currency
Purchasing virtual currency using fiat currency and keeping it within the crypto exchange doesn’t incur a tax liability. You don’t have to file crypto taxes based on the guidance listed on your Form 1040 tax return. Unless you sell or trade the virtual currency, no cryptocurrency taxes must be paid.
Moreover, even if the virtual currency you’re hodling goes up in value, you’re not liable to pay taxes on your crypto gains unless you sell it for fiat currency or trade it for another crypto.
To keep your tax burden to a minimum, hodl successful crypto investments for over a year before selling or using them.
Transferring Crypto to Another Wallet
Hodling your digital asset in custodial wallets provided by crypto exchanges or non-custodial wallets, like hardware or software wallets, is not taxed. Moreover, you can transfer your crypto between the wallets you own without worrying about paying taxes on them.
If you choose to donate a crypto asset to a qualified charity or non-profit organization, then the transaction does not incur a tax. You must simply record the transaction at the fair market value of the coins at the time of the donation. However, the donation can also be tax deductible, so it’s essential to take note of your donations’ cost basis properly.
Gifting or Receiving Crypto as a Gift
In 2021 alone, according to a survey by BlockFi, one in 10 people received crypto as a gift during the holiday season. There is no tax on cryptocurrency gifts under $15,000. If you decide to sell a crypto gift valued over $15,000, you will use the same cost basis as the person who originally purchased it.
Capital Gains Tax
Capital gains is a tax on the profit made from buying and selling property or assets like stocks, and real estate, including crypto. A capital gain occurs if you sell a cryptocurrency for more than your initial investment. Capital gains taxes are considered short-term if held for less than a year and long-term gain if held for more than a year. Short-term capital gain tax rates correspond to an individual’s ordinary income tax bracket, while long-term rates also depend on an individual’s filing status and taxable income.
Additionally, you’re taxed on net capital gains, i.e., the difference between gains and losses.
The type of activity will determine which tax forms you may need. The tax forms include Form 1040, Form 8949, Schedule C, Schedule D, and Schedule SE. If you find it confusing to calculate capital gains on your own, you may use crypto tax software such as CoinTracker or TokenTax to generate crypto tax reports.
Here are cases when you must report cryptocurrency trades on your tax return:
- Trading Cryptocurrencies
You must pay capital gains tax when you use crypto as a means of exchange, including selling your crypto for fiat currency such as U.S. dollars or swapping crypto for another. You must also pay tax for paying for goods and services with crypto.
- Trading or Minting NFTs
If you’re creating or minting NFTs, knowing what events are taxable and how they’re taxed is essential. The specific tax implications of an NFT depends on whether you’re an NFT creator or investor and if you’re interacting with NFTs as a hobby or a business. Once you sell an NFT for crypto or swap it for another NFT, that triggers another taxable event. Any royalties you earn for an NFT you created would also be taxed as income.
Short-Term Capital Gains Tax Rates
Short-term capital gains tax rates are given below:
For the year 2022:
|Tax Rate||Single||Head of Household||Married filing jointly||Married filing separately|
|10%||$0 – $10,275||$0 – $14,650||$0 – $20,550||$0 – $10,275|
|12%||$10,276 – $41,775||$14,651 – $55,900||$20,551 – $83,550||$10,276 – $41,775|
|22%||$41,776 – $89,075||$55,901 – $89,050||$83,551 – $178,150||$41,776 – $89,075|
|24%||$89,076 – $170,050||$89,051 – $170,050||$178,151 – $340,100||$89,076 – $170,050|
|32%||$170,051 – $215,950||$170,051 – $215,950||$340,101 – $431,900||$170,051 – $215,950|
|35%||$215,951 – $539,900||$215,951 – $539,900||$431,901 – $647,850||$215,951 – $323,925|
For the year 2023:
|Tax Rate||Single||Head of Household||Married filing jointly||Married filing separately|
|10%||$0 to $11,000||$0 – $15,700||$0 – $22,000||$0 – $11,000|
|12%||$11,001 – $44,725||$15,701 – $59,850||$22,001 – $89,450||$11,001 – $44,725|
|22%||$44,726 – $95,375||$59,851 – $95,350||$89,451 – $190,750||$44,726 – $95,375|
|24%||$95,376 – $182,100||$95,351 – $182,100||$190,751 – $364,200||$95,376 – $182,100|
|32%||$182,101 – $231,250||$182,101 – $231,250||$364,201 – $462,500||$182,101 – $231,250|
|35%||$231,251 – $578,125||$231,251 – $578,100||$462,501 – $693,750||$231,251 – $346,875|
You can use the data given above to calculate your short-term capital gains tax.
Long-term Capital Gains Tax Rates
The tax rates on long-term capital gains are shown in the table down below:
For the year 2022:
|Tax Rate||Single||Head of Household||Married filing jointly||Married filing separately|
|15%||$41,676 – $459,750||$55,801 – $488,500||$83,351 – $517,200||$41,676 – $258,600|
For the year 2023:
|Tax Rate||Single||Head of Household||Married filing jointly||Married filing separately|
|15%||$44,626 – $492,300||$59,751 – $523,050||$89,251 – $553,850||$44,626 – $276,900|
Using the data given above, you can easily calculate your capital gains and losses and file your federal tax returns.
How To Calculate Cost Basis?
There are multiple ways to calculate the cost basis for your capital asset and use that to figure out your tax liability. If you hold multiple assets, then finding the most suitable cost basis for your holdings will decide whether you end up paying higher taxes or a fair amount. Four cost-basis methods are allowed by the IRS, and you can only use one during one financial year. The methods are as follows:
- FIFO (First In, First Out): The first asset bought is the first asset being sold.
- LIFO (Last In, First Out): The last asset bought by you is the first one to be sold.
- HIFO (Highest In First Out): The asset bought at the highest price is sold first.
- Specific Identification (Spec ID): Choosing the assets sold by you along with the complete records.
The tax season is right around the corner, and it would be wise for you to start filing your taxes for your crypto trades. Remember to include all your capital gains and losses, including the capital loss you might have had during the crypto winter of 2022, to claim a tax deduction. It’s also important to know that you can’t deduct losses for lost or stolen crypto on your return. You can simply write those off and disregard them from your tax calculations.
In summary, cryptocurrency trading is considered a taxable event, and failure to file taxes can attract penalties.
Are you from a country that requires you file crypto taxes? Or even NFT taxes? Don’t fret, we have it all covered.
Crypto tax report generation can be, as the song goes, better, faster, stronger – okay, in this case easier, faster, and more secure. Luckily for all overwhelmed tax filers, CoinStats has partnered with CoinLedger to bring you effortless crypto tax reporting at a 10% discount.
Let’s go over the why and the how of the process!
Why Is It Easier to Generate Your Taxes on CoinStats?
Here are a few reasons why you should consider doing your taxes on CoinStats via CoinLedger:
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Wanna finish your crypto taxes before you finish your coffee? That’s what we thought. Since most CoinStats users have already connected their portfolios to CoinStats, they won’t have to connect APIs anew to generate their tax reports. And the fastest way to handle your crypto taxes is the best one for sure!
🔒 You do your crypto taxes securely via the best 3rd party provider
We thought that CoinLedger is the perfect partner if we wanna bring you secure & easy tax report generation: Trusted by over 300,000 crypto enthusiasts all around the world, CoinLedger prioritizes simplicity and user-friendliness every step of the way. Plus, both CoinStats and CoinLedger get only read-only access to selected portfolio items, so your transaction data will never be compromised.
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Have you lost some money on crypto or NFTs this year? Who hasn’t. Although it is quite unpleasant, capital losses come with tax benefits. You can take full advantage of this loophole when you do your crypto taxes with us.
How to Generate Your Crypto Tax Report With CoinStats?
Follow these steps if you want to generate your tax report on desktop 💻
- Open your portfolio on coinstats.app and click the Report Taxes button in the lower left corner. Note that if you don’t have connected portfolios yet, you will need to connect them first.
- In the pop-up window, you need to select the portfolio items you want to include in your crypto tax report. For example, you might only select MetaMask and Kraken.
- Add a checkmark in the box below to authorize giving CoinLedger read-only access to the selected items and then click Go to CoinLedger.
- Then finish generating your tax report at 10% OFF on CoinLedger.
And here are the instructions if you want to do your crypto taxes on mobile 📱
Note: Make sure you have updated your CoinStats app, otherwise it might not have this new feature.
- Open the CoinStats app, tap on More in the right corner below, and then tap on Report Taxes.
- Tap on the items in your portfolio that you want to include in your crypto tax report and check the box below to allow CoinLedger read-only access to the selected data.
- Tap on Go to CoinLedger to finish generating your crypto tax report there with a 10% discount.
As crypto gains wider adoption, more and more countries around the world introduce legislation requiring crypto taxes where cryptocurrency is treated like any other digital asset, such as stocks or bonds. Soon enough crypto taxes – or even NFT taxes – will inevitably become the norm.
Foreseeing this development, we have partnered with #1 crypto tax tool on the market CoinLedger to facilitate tax reporting for all CoinStats users. Stay tuned for more updates because at CoinStats crypto expansion never stops!
XTZ, the native token on the Tezos blockchain is now available to buy, sell, and trade on local platform PDAX.
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Ben Kritz stressed that a research by an international bank showed that 81% of investors had already lost more than they had earned in crypto.
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According to BSP Gov. Medalla, Project CBDH aims to allow any Southeast Asian native in the country to make wholesale transactions.
With this, the U.S. regulators promised to take a careful and cautious approach to crypto activities and exposure at banking organizations.
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Pi Network explained that they are still under an “Enclosed Mainnet Period” and trading of $Pi on exchanges is explicitly prohibited.
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Participating artists will learn how to mint NFTs, represent themselves in virtual worlds, and build a community through the incubator.
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Authorities have not yet brought charges against the company, which has faced intense scrutiny following competitor FTX’s collapse in November.
Will the “Motorverse” change the face of backseat entertainment?
Officials with the U.S. Department of Justice’s Eastern District of New York and the Securities and Exchange Commission are examining transfers between Digital Currency Group and Genesis, one of its subsidiaries, a report late Friday said.
CEO John Crain said the company overhired during the market upswing and could not sustain its growth in recent months.
The company behind the popular NFT project Moonbirds hopes to expand its partnerships and grow its brand beyond a Web3-native audience.
Two additional promoters of the Forcount Ponzi scheme – a Brazil-based crypto scam that defrauded Spanish-speaking investors around the world of a collective $8.4 million – have been arrested and charged with fraud for their role in the alleged grift.
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DeLabs, the company behind the NFT projects, received a “$3M non-equity grant” from the layer 2 chain to fund its expansion.
The company’s former custodian, Wyre, is scaling back its services.
Friday morning’s reports on job and wage growth and the service industry gave hope that the Fed may further slow the pace of monetary tightening.
FTX’s U.S. leadership and the company’s Bahamas wing’s court-appointed liquidators have formed a cooperation agreement addressing how assets may be inventoried and disposed of, among other issues, a press release Friday said.
By definition, stablecoins are tethered to the real economy. But whatever links they have should be minimized, until their applications are fully proven, says Dan Kuhn.
An Ohio family now has not one but two felons facing potentially lengthy prison sentences for crypto-related crimes.
Live from CES 2023 in Las Vegas, the software development company is standing firm on why crypto’s future will be based on self-custody following the implosion of FTX.
A new study by Ren & Heinrich suggests that Binance’s emergence as the dominant global crypto exchange might mean that its individual token listings are now getting a lot more attention – at least among speculators.
Web3 features are just beginning to appear on smart TVs, but they could become an on-ramp for general consumers.
Poolin had issued I-owe-you tokens in exchange for its users’ crypto deposits. A Singapore judge said that’s not okay.
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The jobs market remained strong/began to show signs of weakening to close out 2022.
The latest price moves in bitcoin (BTC) and crypto markets in context for Jan. 6, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.