DIGITAL MONEY (THE 21ST CENTURY MONETRALIZATION)
Bitcoin recently had a wild correction of -50%. While chances are high that the bottom is not yet in, let’s have a proper look at what our current economic situation means for the cryptocurrency in the medium- to long-term.
BITCOIN FREQUENTLY ASKED QUSESTIONS
Fundstrat's Tom Lee was one of the protagonists of the Blockchain Economy 2020 event held last week in Istanbul, Turkey. Lee kept his argument, which lasted about half an hour, on the second day of the event.
Before you attempt to know about the pros and cons of investing in Bitcoin Individual Retirement Accounts (IRA), it would make sense if you try to understand what a Bitcoin is and how does it work. As Bitcoin is a relatively new concept, there are pretty chances of you being might not even aware of its existence.
Bitcoin is a pretty radical approach to how we handle money. That fresh approach has a lot of supporters since Bitcoin, as well as many other cryptos, is worth a pretty penny now.
Bitcoin has been in circulation for ten years now. That's ten straight years of battling to replace physical exchanges with digitalised ones which, admittedly, can be a lot more convenient at the best of times. Plus, with the lack of control of the currency on behalf of banks and government officials, Bitcoin is no doubt a very reasonable alternative to physical monies. But, that all being said, has Bitcoin lost its way in recent times? Has this powerful cryptocurrency which has dominated the pits for years finally began to fade?
The first cryptocurrency to be developed in the modern world was bitcoin. Bitcoin set a golden standard for digital cash and making it a currency that could eliminate any control from banks or governments. Nearly every day more and more people are becoming interested in bitcoin and they seek ways to invest and use this digital currency for themselves. Powered by peer-to-peer technology, which just means that it is powered by a vast network on different people, this currency is essentially code rather than physical currency and allows secure data encryption.
But just what is bitcoin?
The undisputed giant in the world of online payments, PayPal, has been around for two decades. Truth be told, the shape and purpose of this platform was not always what it is today, but it showed what the quintessential best business practice looks like - it learned, adapted and overcame all obstacles, setting a worldwide standard when it comes to online money transfers. But it’s not the only e-wallet out there. PayPal alternatives are aplenty and it’s worth looking into what the market has to offer.
If you deal with cryptocurrencies, taxes may be a confusing time for you. Cryptocurrencies like Bitcoin and Ether are only becoming more popular and more widely used every year. While you may be an expert when it comes to filing traditional taxes, cryptocurrency taxes are a little different. Here's a rundown of what you should know when it comes to filing your taxes on digital currency this year.