Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: MaMooN on August 29, 2018, 04:31:34 PM
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1. The cryptocurrency market is volatile
The first and most important thing one must understand before investing in an cryptocurrency is to realize the fact that this market is highly volatile. It is not surprising that the price of an cryptocurrency is reduced by between 10 and 20% in one day.
Many believe they are willing to take the risk of investing in the cryptocurrency, and all it takes is a bad day to figure out how much volatility they can actually afford.
2. There are multiple options
Most people only talk about Bitcoin, but its only one of the many cryptocurrencies available on the market today. Bitcoin may be the dominant at the moment, but there are multiple options.
If you want to continue using Bitcoin it is your business, but there are other options available such as :
Ethereum, Ripple , Litecoin , Monero
3. Security
Since the cryptocurrency is a digital currency; there are always safety risks, most notably piracy. It is best to save and store the cryptocurrency by yourself instead of using exchange services.
A backup can be created and stored on a USB key if needed, and a free program can be downloaded to store the cryptocurrencies. In this regard there are many options available.
4. Hide identity
Cryptocurrency by nature is based on anonymity. This means that each recorded process is encrypted so that no one could know who actually holds a large amount of cryptocurrencies.
This makes investing safe online and tax free in most countries around the world. You can record a fourfold increase in your investment and withdraw your money without being responsible for paying one cent to the government.
5. Best time to invest
There is no such rule when it comes to investing in cryptocurrencies. cryptocurrencies are the best investments at the moment, but it is advisable not to buy during the peak of the bubble.
The best time to invest is when the price is stable at a relatively low level. Understand the fact that cryptocurrencies bubbles do not look like traditional financial bubbles, so think about your decisions accordingly.
This was a comprehensive list of the five things that one has to know before investing in the cryptocurrencies. Good luck!
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This makes investing safe online and tax free in most countries around the world. You can record a fourfold increase in your investment and withdraw your money without being responsible for paying one cent to the government.
Not really good advice to be giving out to people. Profits on crypto are most definitely taxable in many parts of the world, and attempting to hide any profits could get you in serious trouble, financial or otherwise. Whether people choose to report profits is their business, but advising them not to is bad advice.
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This makes investing safe online and tax free in most countries around the world. You can record a fourfold increase in your investment and withdraw your money without being responsible for paying one cent to the government.
Not really good advice to be giving out to people. Profits on crypto are most definitely taxable in many parts of the world, and attempting to hide any profits could get you in serious trouble, financial or otherwise. Whether people choose to report profits is their business, but advising them not to is bad advice.
Agreed. This is one of the main reason governments became more strict on cryptocurrencies.
Profits in whatever form are taxable and it is highly advisable to declare them.