Questions tagged [cryptocurrency]

A cryptocurrency is a digital or virtual currency that uses cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership.

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I accidentally sold all of my Bitcoin with a limit order because I had never done one before

I decided to try a limit order to sell all of my Bitcoin if it dropped to a low level. This was my first time trying a limit order. I didn't understand that it would sell at my low asking price, which ...
Formul8's user avatar
-2 votes
1 answer
181 views

Is it scam when this sugar daddy ask me to pay like called "international fees" to receive the money? [duplicate]

So this sugar daddy dm me and says he wants to be my sugar daddy. we've been talking for a days and then he asked me about my paypal account. Now he's sending me the money but he said i need to pay ...
KKK's user avatar
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-3 votes
1 answer
206 views

USDT Staking on Binance - the offer too good to be true? What could go wrong?

Binance is currently offering around 24-26% interest when staking USDT with daily payout. The offer looks extremely good to me, but I wonder if I am not seeing or underestimating the corresponding ...
Sybil's user avatar
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0 answers
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Tax Calculation for Liquidity Pool Transactions: Cost Basis Method and Procedures

I've been encountering difficulties in calculating taxes on transactions related to liquidity pools. Despite using Coinledger, I've found it doesn't support multiple transactions within a liquidity ...
Summer's user avatar
  • 103
0 votes
2 answers
208 views

Isolated Margin

This question about leverage mentions "Isolated Margin". A bit of googling leads me to think it is some crypto idea. The explanations I can find just states that the risk can be limited to ...
JenserCube's user avatar
6 votes
1 answer
330 views

Can I claim a tax loss for Crypto blockchain shutdown?

Short version is that I bought crypto by way of trading BTC/ETH into the coin of discussion and the blockchain of that coin was shutdown. I can't access the balance in my wallet (and never will). Can ...
Jeremy's user avatar
  • 181
2 votes
6 answers
5k views

I was approached to invest in short-term Blockchain node transactions. Is this scam?

Full story: That person contacted me with these details : --edited Before the cryptocurrency discussions initiated by the scammer, our initial conversation took place within the context of online ...
b.lopes's user avatar
  • 163
1 vote
0 answers
500 views

New job turned out to be scam to use received money to buy then sell bitcoin-how do i fix when money is gone?

I accepted a remote secretary position recently, gave my bank information for direct deposit paychecks. It went from he's supposed to mail secretary office supplies to me to asking me to buy bitcoin ...
Jcr6334's user avatar
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-5 votes
1 answer
179 views

How to start with cryptocurrency? [duplicate]

Understanding Forex and crypto trading: Currency Pairs: Forex involves trading currency pairs, such as EUR/USD (Euro/US Dollar) or GBP/JPY (British Pound/Japanese Yen). The first currency in the pair ...
Esdras Zongo's user avatar
-6 votes
1 answer
341 views

What's app crypto romantic scam?

didn't have...and then I could tell he was frustrated because it seemed like he just dripped the conversation. I tried to contact him a few times, I can see that he saw the message, but there was no ...
user126028's user avatar
1 vote
1 answer
90 views

How to handle US financial accounts after leaving?

I moved out of USA in Oct 2023 after living there for 8 years as a temporary worker. I am not working in USA anymore (physically or remotely). I have the following accounts: Robinhood brokerage: ...
sam's user avatar
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1 vote
1 answer
271 views

Sending money from USA to Cuba or Russia via bitcoin

Suppose you an in a country (such as Cuba or Russia) where US credit cards and wire transfers don't work. You run out of cash and need money. Is it possible to transfer some money from a US bank or ...
Physiker's user avatar
0 votes
1 answer
273 views

Is Bitcoin taxable?

A few months age the SEC has regulated bitcoin as a commodity. Quick googling tells me than commodity wages are exempt from taxes and it looks like if a company can fully operate in bitcoin ...
fixerlt's user avatar
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16 votes
1 answer
6k views

10 Trading.com - Fake or not?

I invested small amount of money 5 years ago and then panicked and withdrew it all, 10Trading was the company and I believe they were closed down, however periodically I receive emails suggesting I ...
Lesley Hibbert's user avatar
9 votes
3 answers
4k views

Someone on Instagram is offering to buy art I posted as NFTs. What is my risk?

I have an Instagram account where I post some content from time to time. Recently, I've been posting some images I created via AI, which I indicate in every post. Today, I received a message where ...
Tarish's user avatar
  • 93
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1 answer
380 views

Advanced bitcoin/check scam?

So someone is offering me bi-weekly $1,500 checks for services. I know the typical scam is: send check, check clears, they request money back, and after a couple weeks the check is found fraudulent ...
Jez's user avatar
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4 votes
0 answers
2k views

I know it's a scam, but what is it?

From time to time I receive a message on Twitter like the following: tavis Login URL...eth0033.c o m login name...Adam1986 password...1986Adam assets≈41BTC Help me transfer 0.7btc to your brother ...
SQB's user avatar
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1 vote
0 answers
231 views

How to anonymously send money to a seller (without using crypto)? [closed]

I want to send money to a seller without giving them my info (name, address etc). However, they don't accept crypto. Paypal is an easy option but I heard my personal details get sent to them along ...
Gator's user avatar
  • 21
-6 votes
1 answer
185 views

What would be the best cryptocurrency Trading website [closed]

Can anyone direct me to the best cryptocurrency/bitcoin trading website. I need to make some money very quickly. I was scammed previously and I want to be able to get back on my feet again. I ...
Lee's user avatar
  • 353
18 votes
4 answers
7k views

Bitcoin scam: how screwed am I? [duplicate]

I was sent contact information from an agency for a job. After a ton of emails, the person seemed legitimate, and they then sent me a check for the work and supposedly to book flights and such for ...
kevin N's user avatar
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1 vote
1 answer
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What happens if I place a stop limit sell order with a $1 limit?

Let's say I am looking to sell a Bitcoin on Coinbase if the price drops to a certain level. This sounds like a perfect use case for a stop limit order. So I set my stop price at the level that I want ...
Jeff Camera's user avatar
18 votes
1 answer
6k views

Where can I report a cryptocurrency fraud?

I am positive that I have been taken in a wild chase to get my money back in a cryptocurrency advanced fee scam, and I have reported this to google, WhatsApp, ic3, Coinbase, etc., and I am not getting ...
JEPG's user avatar
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-2 votes
1 answer
180 views

Can a store offer crypto gift card? How does it affect taxes?

Can a store offer to load a gift card with crypto? How does it affect taxes?
Ilya Gazman's user avatar
2 votes
1 answer
262 views

I donated cryptocurrency to a charity, but the receipt is in dollars. How is it taxed?

In 2022 I made a donation of $100 to a tax-exempt charity, which I paid using cryptocurrency (let's say 123.456 units of currency XYZ). The tax receipt I got from the charity acknowledges a donation ...
Nate Eldredge's user avatar
0 votes
2 answers
137 views

UK crypto capital gains tax - report total start/end value instead of individual trades

I am trying to work out capital gains for cryptocurrency transactions. All of the advice I have seen says that I have to calculate everything based on individual transactions, using the market value ...
SystemParadox's user avatar
-1 votes
1 answer
118 views

Can I save capital gains taxes by purchasing stock/crypto as part of LLC?

Suppose I register an LLC in the US and purchase stock or crypto as part of the LLC. When I sell the stock or crypto later on, I would like to use the money to buy real estate. In that case, does the ...
satya's user avatar
  • 109
0 votes
1 answer
85 views

Questions regarding large expenses in the first year of LLC

Apologies for the long post. I have contacted multiple accountants and tax experts with diverging views on my business developments. Around 5 people were contacted, 4 considered my case ordinary and ...
Anthony Zaid's user avatar
0 votes
1 answer
91 views

What's the difference between a commission fee and an artificially inflated spread when executing a trade?

I read on https://www.kitco.com/news/2022-11-29/Fidelity-Crypto-is-a-go-4-5-trillion-firm-launches-retail-crypto-trading.html: The platform promises “commission free” crypto trades, but the company ...
Franck Dernoncourt's user avatar
-5 votes
4 answers
248 views

What are the upsides of storing one's assets in a cryptocurrency exchange? [closed]

In the wake of the ongoing FTX debacle, I wonder the following: what are the upsides of storing one's assets in a cryptocurrency exchange?
Franck Dernoncourt's user avatar
0 votes
1 answer
330 views

GnuCash: How to transfer crypto (stock) to checking account after selling?

I have an account for cryptocurrency (USDT) which is set up as a stock account, and sometimes I pay with USDT for different goods. The expense accounts have USD currency. How do I record in GnuCash ...
Pavlo Kovalov's user avatar
20 votes
7 answers
7k views

How can a retail investor check whether a cryptocurrency exchange is safe to use?

In the wake of the ongoing FTX debacle, I wonder the following: How can a retail investor check whether a cryptocurrency exchange is safe to use, at least minimize the risk? By safe, I mean no losing ...
Franck Dernoncourt's user avatar
-5 votes
2 answers
198 views

Why do some cryptocurrency trading platforms require users to use the platform's native crypto token to access the platform?

I read on CNBC: FTT, the native crypto token that gives users access to the FTX trading platform. Why do some cryptocurrency trading platforms require users to use the platform's native crypto token ...
Franck Dernoncourt's user avatar
0 votes
1 answer
119 views

How to reorganize crypto centric portfolio to more balanced approach?

I need advice on reorganizing my portfolio to sustain myself and my dependents until their demise. I live in India. I am in my mid-20s and have 3-4 dependents. I have my own house (no mortgage), a few ...
user avatar
3 votes
0 answers
72 views

Why less leverage is allowed for cryptocurrency Spot trading?

I realized brokers and exchanges allow high leverage for Futures, Options and Forex listings but not so much for spot listings. For example in Kraken Futures you can get 50x leverage for BTC-Perpetual,...
Ömer Kurttekin's user avatar
-2 votes
2 answers
619 views

A fee of 1000$ is requested to get refunded from Blockchain

Good Morning all, I hope to get an answer to this question. I have been scammed from cryptocurrency platform. I have received many calls of people who wants to help me recover my money. Recently, I ...
Yvesnky's user avatar
  • 19
3 votes
5 answers
5k views

Why don't unbanked people use cryptocurrency?

I hear a lot about Western Union and associated costs in the context of remittances. Also there are exchange rates anyway, between one currency and another. Also there is inflation and bank fees. Why ...
very big cat's user avatar
1 vote
1 answer
337 views

How much money does it take to pump a stock/crypto currency?

Like for example, if a stock is worth $0.10, how much would it take to actually have an effect on the price, even if it only goes up $0.01 cent, how much would it take to change the price? Same for a ...
Hudson Gaw's user avatar
1 vote
2 answers
120 views

How to calculate cost basis for list of incongruent batches of buy and sell transactions (forex trading)

How can I calculate the cost basis for my forex portfolio at any given time? I'm trying to build a spreadsheet to track forex trading of cryptocurrency pairs. Specifically I'm looking at XMR-BTC ...
qualityfreckle's user avatar
1 vote
1 answer
154 views

GNU Cash Stocks - Using smaller than 0.01 in "Buy" and "Sell" transaction column

How can I set the value in the "Buy" or "Sell" columns to less than 0.01 in GNU Cash? I'm trying to see if GNU Cash can be used to track forex trading of cryptocurrency pairs. ...
qualityfreckle's user avatar
0 votes
1 answer
58 views

Does calculating Crypto taxes need previous year numbers?

During 2020, I did 100 crypto trades: buying/selling many type of crypto currencies. I used an online service (Bitcoin.tax) to calculate my tax liability for 2020 tax year. It processed all my trades ...
sam's user avatar
  • 151
1 vote
1 answer
397 views

How to send money into someone's paypal anonymously ? Read further

I am an Indian and i want to send a Japanese friend some money. The friend uses Paypal and is not familiar about Crypto. I want to do it anonymously as i can't let anyone know about it. Here in India, ...
invest tech's user avatar
3 votes
0 answers
90 views

Do I need to declare capital gain when buying BTC to trade for another coin?

In 2017, I wanted to by XRP. There was no way to buy XRP with fiat, only with BTC. So I first bought 1 BTC for $20,000 I immediately sent that 1 BTC to an exchange so I can trade it for XRP. The ...
Ok_Selection_505's user avatar
-3 votes
2 answers
115 views

Are smart contracts meant to be "updateable"? Is it up to the creator to secure whatever terminal or codes are necessary to update the contract? [closed]

I'm looking into creating a smart contract on Ethereum or Solana, just for fun for now. I know in practice how to create a smart contract, but at this point I have a dilemma: In the one hand, it ...
Mister Mystère's user avatar
1 vote
1 answer
121 views

How do I calculate capital gain when I bought at different prices?

I bought 2 BTC in 2019 for $4,000 each I bought another 2 BTC in 2020 for $10,000 each In total, I bought 4 BTC for $28,000 I sold 1 BTC in 2021 for $40,000 How do I calculate the capital gain for the ...
Ok_Selection_505's user avatar
0 votes
1 answer
179 views

How to know increasing open interest indicates new short contracts or longs contracts?

I trade on crypto market and recently I have learned that there is a tool or something named open interest which tells you the amount of long and short open contracts at any time. It is really helpful ...
Kia Khoshvaght's user avatar
0 votes
1 answer
76 views

How does tax on stocks/crypto work? How are they calculated?

I am wondering how tax is calculated on stocks or cryptos esp if you buy them in batches or sell them in batches. Here is my example Jan - I spend 3000$ to buy CRO coin for 0.6$ each (buying 5000 ...
TheTechGuy's user avatar
3 votes
2 answers
1k views

Can one earn only converting assets with different spread?

Can one earn only converting assets with different spread? Example: buy asset Y with asset X (i.e. BUSD/BTC) buy asset Z with asset Y (i.e. BTC/BNB) buy asset Y with asset Z (i.e. BNB/BUSD) and get ...
markzzz's user avatar
  • 141
1 vote
0 answers
137 views

Company is asking me to send my personal info so they can send Bitcoin to my personal account in order to pay customers using my personal account [duplicate]

I added a screenshot of an email that a company I applied for this week. They are asking for my Name, Number and Bank name so they can send Bitcoin currency to my personal account in order to “buy ...
user118266's user avatar
19 votes
3 answers
4k views

Do I have to pay short-term capital gains tax on crypto currency if I only withdraw the principal and not the profits?

Say that I bought $5000 USD worth of Bitcoin, and a month later its value grows to $6000 USD. Now, if I were to withdraw only my $5000 USD principal worth of bitcoin, while keeping $1000 USD worth of ...
John Doe's user avatar
  • 193
19 votes
3 answers
4k views

What is crypto deleveraging?

This excerpt says: Multiple crypto company failures shouldn’t be surprising given huge price declines among tokens, and entities that used higher leverage in the past are the most vulnerable, ...
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