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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1answer
76 views

Is the Gold precious metal undervalued (towards the end of 2021)? [closed]

At the moment, money is being printed on a massive scale. The money is flowing into the stock markets and the younger generation is investing it in Crypto. Am I correct in assuming that Gold is ...
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1answer
36 views

what does Yahoo Finance Open/Close price of bitcoin mean?

I have a question regarding the open and close price of historical bitcoin data. Do they make sense? The bitcoin market is 24/7 do we really have a close or open price. When does yahoo finance record ...
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1answer
134 views

What will be net profit/loss of all people if all people sell a given cryptocurrecy?

In crypto currency is another man loss is someone else gain and does sum of profit/loss of all person will be zero if every person decide to sell the crypto and no one hold any crypto currency (...
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1answer
104 views

Will IRS reimburse tax on interest earned from altcoin that looses it’s value?

Scenario. I have 100 of altcoins on Bl0ckFi. Every month, Bl0ckFi credits 1 additional altcoin in the form of interest. After a year I have 112 altcoins. Then the tax season comes. I pay dollars to ...
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1answer
142 views

Is it safe to share my id and a picture of my id with this website? [closed]

A website is asking me to take a picture with my id card and my id card to buy Bitcoin with it. Is it safe to do so? Not in the US.
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Is it possible to determine the outcome (Hi/Lo) of trading BTC on a 1 min scale?

So I can across this BTC trading website, where they offer different time frames 180,120,60s trading for various crypto coins. You'd basically enter your amount of bet and time frame, select whether ...
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1answer
145 views

Tax loss-harvesting with Crypto

There are headlines floating around about enforcing wash sale rules for crypto capital gains and losses, this prompted me to look into tax loss-harvesting, and it turns out I don't understand it at ...
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1answer
102 views

Do I pay taxes on BAT (basic attention token) when using brave wallet?

Basically the title. I'm using Brave Browser because I heard it pays you to view ads, and it does. I have 30USD worth of BAT right now. I just went through all the verification stuff in GEMINI, now it ...
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0answers
38 views

Stepped-up Basis with a Revocable Living Trust

Scenario is this: son was trustee and invested extra savings in cryptocurrencies while father was alive and not able to make his own decisions. A few additional cryptocurrencies were purchased after ...
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1answer
163 views

When I take a position in a perpetual future (e.g. 3x long), must there be someone holding the opposite position (3x short)?

When I take a position in a perpetual future (e.g. 3x long), must there be someone holding the opposite position (3x short)? If so, suppose I entered a long 3x position on an asset at $100 and you ...
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3answers
342 views

Is my sugar daddy a scam [duplicate]

I recently started talking to this guy few weeks ago and then he asked if I’m interested in being his sugar baby and then he wants my account number and routing so he can send me direct deposit then I ...
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0answers
31 views

How trading fee is calculated in exchanger?

I don't know whether it is the perfect place to ask questions or not, But my question is in DEX or CEX, from where the trading fee is deducted ? from the base or the quote currency ? if trading fee is ...
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7answers
11k views

How can I fairly give the option to be paid in Bitcoin?

I'm a freelancer who bills per hour and invoices my clients at the end of the month. The total amount is represented in my local currency. I also give the option for my clients to pay in Bitcoin at a ...
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2answers
181 views

What are the legal and tax implications of crypto lending?

With high interest rates for crypto loans, I'm currently thinking of lending out my cryptocurrency on a crypto lending platform like Celsius Network. However, I'm not too sure about the implications ...
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5answers
6k views

Can secret Bitcoin transfers cause the reported values to be completely off?

Is it possible to buy and sell bitcoin without any of the exchanges knowing about it? Since the price of bitcoin is determined by people buying and selling, could these secret exchanges cause the ...
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3answers
1k views

UK capital gains tax when I give asset to partner

I'm in the UK. My partner and I aren't married, and we live in separate houses. I'm in the higher tax bracket and he's in the normal bracket. I have a bunch of cryptocurrency, and I'd like to use it ...
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2answers
128 views

For this one case, would my Bitcoin-to-fiat conversion be tax free?

The situation: I currently have 1 BTC left. I originally had many more. Over the years, I have spent a total of $14,648 USD to buy Bitcoin every now and then. According to Swedish tax rules, I have to ...
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3answers
8k views

If my account only sells crypto, will I get taxed?

Will I get taxed if I do this? Purchase $1000 USDT on Binance Transfer to a crypto exchange outside the U.S., or transfer to a wallet address and use decentralized exchange. Buy bitcoin, earned $1000,...
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2answers
71 views

Calculating Liquidation levels with Margin

When using margin on an exchange, is there a function that one can run ( hopefully using python ) that can calculate the Liquidation Price Level when entering How much to spend and the Margin level ...
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1answer
240 views

Is this a Sugar daddy Bitcoin scam or not? [duplicate]

I’ve been talking to this acclaimed “sugar daddy” and I’m trying to figure out if it’s a scam. He hasn’t asked for any bank info or any other private information. He told me that my fee for receiving ...
39
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10answers
5k views

Why do NFTs have value?

I've seen dozens of articles on NFTs, and not comprehended a single one. So when someone made an NFT of the first Twitter posting, I didn't understand how that would be a means to generate any sort ...
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1answer
196 views

Why would a company buy and hold cryptocurrency as part of its strategy to accept payment in same?

News reports about companies buying and holding vast fortunes of a cryptocurrency because they will or might accept payments in the future in that cryptocurrency. I'm trying to understand why a ...
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2answers
252 views

How does the Robinhood app or any website know the price of Bitcoin at any given time?

How do they know the actual price if it's always changing every second? Is there an algorithm they use to calculate it, or is there an authoritative source that they all go to that tells them what it ...
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1answer
129 views

Open Interest vs Notional Value of Open Interest, what's the difference?

so in binance trading data, I came across with this where the open interest is falling but the notional value of OI is being steady. my understanding is that Open Interests represents the number of ...
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2answers
7k views

How do I avoid paying tax on a cryptocurrency gain that I have already lost?

I'm not sure if this question belongs here, but I'm super confused about how cryptocurrencies get taxed. I invested $10,000 at the end of 2020. I made about 30 or so short-term trades in 2021 and sold ...
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0answers
74 views

Calculations for my Portfolio

First excuse my maths and limited finance knowledge. I am testing investing in crypto and trying to calculate my ROIs, Profit/Loss etc and getting stuck a bit and was wondering if anyone can help! ...
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1answer
7k views

What is MNEB Token?

I've loaded up my Metamask wallet today and was surprised to see it's value at over $50,000. Almost all of that value was a token that I'd never heard of before and certainly didn't buy. There's a new ...
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2answers
769 views

Anyone hear of Aionbtc? How does this scam work?

I got this message below. I signed up for a lot of giveaways without thinking, but I don't remember this one specifically. Is it a scam? Their site looks pretty cool: [link redacted to minimise the ...
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2answers
329 views

Online Sugar Daddy and Bitcoin [duplicate]

I met a guy through Snapchat and he says he’s a sugar daddy. He claims he’ll pay me an allowance weekly through Cash App. But before he starts giving me an allowance he wants me to download and create ...
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4answers
351 views

What is the technological problem that cryptocurrency solves? How does overcoming that technological problem help in the real world?

I have read a lot about cryptocurrency and am yet to find a good explanation of why the technology does or even might someday provide an improvement over the current monetary system. So, what is the ...
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4answers
10k views

How do I report a gain in bitcoin that I received as reimbursement for buying a waffle iron?

In 2016 I was visiting a friend in another country and he asked me to bring him a waffle maker (~$35). He paid me back for the waffle maker in Bitcoin. I sold that Bitcoin in 2020 for ~$740. I believe ...
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3answers
74 views

How is the MACD positive in this example when the 12-day MA is below the 26-day MA?

I learned that the MACD for an asset will be negative when the 12-day moving average is below the 26-day moving average, so I was confused when I looked at the price of bitcoin a few months ago with ...
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1answer
69 views

What does this blip on a chart indicate?

I noticed this on a chart I'm looking at. I'm curious what if anything it might indicate. Could be as simple as someone mis-clicking, or perhaps a new trader misunderstanding what they're doing? We'...
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2answers
61 views

On balance volume indicator showing different signal on different time frames

I'm watching the OBV (tradingview) on my tickers, and I'm puzzled as to why it shows completely different trends and signals depending on the time frame I pick. I'm talking about forensics on a given ...
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1answer
173 views

What is the catch of getting 9.3% APY for USDC stacking?

I’m sure there is a catch . How is it possible that one can earn over 9% APY on USDC? There are many platforms offering this. Just on example https://blockfi.com/rates/ This looks too good to be true. ...
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2answers
99 views

What happens if Nexo defaults?

My question is if I deposited some crypto or fiat currency to Nexo, and Nexo defaults. How can I get my money back? I looked at their site and googled for the info but couldn't find the answer. I ...
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1answer
138 views

Accidentally sent cryptocurrency to wrong address

I was exchanging cryptocurrency with Changelly when I noticed after the fact that I put in the wrong address. I know I'm probably out of luck, but is there anything I can do to get it back? I have ...
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1answer
109 views

Thoughts on the new announcement about reporting crypto transfers? [closed]

The Treasury Department announced today (5/21/21) that transfers of $10,000 USD or more to/from crypto accounts will have to be reported to the IRS, following the old pattern of requiring reporting of ...
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1answer
150 views

Is the cryptocurrency market determined by the market caps of each individual coin?

I think I simply saw outdated information, but I was curious whether or not the "cryptocurrency market" as in the total value of all cryptocurrencies on the market is equal to the sum of all ...
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0answers
23 views

How does Limit order book works in the following hypothetical scenarios? [duplicate]

I’m a beginner to trading and reading some stuff about Limit & Market orders. I’ve thought up some scenarios and I would like to confirm on how the underlying order book mechanism deals with them. ...
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1answer
70 views

How to exchange US stock shares for crypto in other country?

I have shares of stock with US Etrade, but I no longer live in the US and no longer have a US bank account. I want to cash out those shares and use that cash to invest in cryptocurrency and possibly ...
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1answer
95 views

0 commission Crypto exchanges? [closed]

I’ve been trying to find a cryptocurrency exchange other than Robinhood (because I don’t trust them) that has no commissions. I would also like it to be possible to not to give them my bank account ...
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2answers
71 views

What would qualify as capital gains to be taxed on in this scenario? [closed]

So I have recently gone into investing crypto and have made good money on it. However I recently started thinking about the taxes on my investments. I'm not a day trader but I do sell and buy the same ...
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1answer
186 views

How to calculate cryptocurrency future price required market capitalization?

How do I calculate if a selected crypto coin (Eg: Cardano) needs to reach USD X (eg USD 100), how much market capitalization required? I want to know this because of the quora.com following answer. ...
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3answers
176 views

Taxes on stocks/cryptocurrency day trading

I understand that stocks and crypto are treated as capital gains when a net profit is made, and taxed as such in the United States. My question is what happens when a particular stock or set of stocks ...
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3answers
293 views

How can such a thing as a "fully collateralized" Bitcoin loan exist?

Let's say I want to buy a house, but I don't want to spend any of my 10 BTC. So I want to borrow 1 BTC. In order for me to not be able to scam whoever lends me that 1 BTC, I have to "fully ...
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12answers
18k views

I bought my first shares in life and they dropped 25% in a very short time. What to do?

I bought Coinbase stocks shortly after IPO. Now my loss at 25%, however, I am in the fortunate position of not being dependent on the invested money. I would like to know in retrospect what I and ...
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1answer
149 views

Rapids (RPD) cryptocurrency: 3190500% increase in 1 hour

I noticed that the price of Rapids (RPD) cryptocurrency increased by 31,915,000% (market cap: $400bn) in 1 hour yesterday on 8th May. Shortly after (5-10 minutes), the price dropped by 99.6% (market ...
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1answer
210 views

Is it legal and possible for me to start a "tax haven" account in some distant country while still living in Sweden?

I have just realized that if I ever sell my Bitcoin for fiat, the Swedish government is going to tax 30% of it. Yes, it's "only" on the "gains", but since I primarily bought them ...
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1answer
2k views

Robinhood, daily buying and selling, and cryptocurrencies... What tax concepts to expect?

Robinhood has plenty of docs explaining the tax concepts with trading, and this is not particularly mysterious. But what I am wondering is what sort of documents to expect them to provide come tax ...

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