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There are close to 17,000 cryptocurrencies, and there are some essential details to know if you made any crypto investments in 2021. Tax professionals and consumers have more than ten years of experience to guide them in taxing decisions, but things can change. Although the official tax classification is not public regarding cryptocurrencies, the IRS is aware of investors’ profits in 2021. How can you avoid a tax nightmare? An investor should assume all[…]
This article will uncover Litecoin facts you probably didn’t know about. From the beginning, there have always been doubts and confusion regarding cryptocurrency. There are many aspects to consider, like which crypto to invest in and its reliability and stability. It is the first altcoin, created by the former Google engineer Charlie Lee. It was made two years after Bitcoin, and the name connects to how it will be “lighter” than Bitcoin. Here are[…]
The benefits of Litecoin are many. Let’s discuss some benefits that we believe make Litecoin special. One of the most common reasons cryptos have become popular is to transfer money with low transaction rates. The faster and more efficiently a crypto network works, the better for the user. What are the Benefits of Litecoin: Its Speed While Litecoin is not considered the fastest digital currency among all the networks, it is an excellent option[…]
There are several types of cryptocurrencies. However, some may have more potential for growth. Let’s get a feel of which cryptocurrencies have a future. Most popular types of cryptocurrencies: What are the key factors to consider when evaluating different types of cryptocurrencies? When evaluating different types of cryptocurrencies, various factors should be considered. Some of the most important factors include: What are some notable use cases or real-world applications of cryptocurrencies beyond investment? Crypto[…]
Regarding the two cryptocurrencies, Bitcoin and Litecoin, people are often in a dilemma as to which one to use. In this article, we are going through the use cases of both these assets, ad we will break them down, explaining which is better for everyday use and why? While Bitcoin is the most popular and often considered the original cryptocurrency and has been around since 2009, Litecoin was introduced in 2011 as a “lite”[…]
Here are some general rules to follow when building a well-balanced crypto portfolio. Investing in cryptocurrencies can be a successful way to diversify your portfolio and potentially earn valuable returns. However, it is also known to be a complex and volatile market. The key to crypto success is to build a well-balanced crypto portfolio that aligns with your investment goals and risk tolerance. Here are six steps to follow when creating a well-balanced crypto[…]
Smart contracts are a form of automated agreement between the contract creator and the recipient. The agreement is written in code format and stored in the blockchain system. When locked into the blockchain system, it cannot tamper with; therefore, the recipient can rest assured that the smart contract remains irreversible. Smart contracts, popularized by Ethereum, the world’s second most popular blockchain, have led to many decentralized apps (DApps) and other use cases on the[…]
Let’s learn a little bit about the three Litecoin features. If you didn’t know already, Litecoin is an open-source platform with binaries and source codes that can be independently verified. Litecoin Features – Blockchain The first of the Litecoin features is the blockchain, which is programmed to handle many transactions easily. The network works on high volume and does not require a software update because it operates under frequent block generation, lightning, and segregated[…]
You’ve probably heard about the term volatility if you’re a crypto investor. Cryptocurrency is highly volatile; on the same note, it can create significant short-term gains. Volatility is measured in various ways. First, let’s go into the first measurement method, Historical Volatility. This refers to observing past changes in the market and, therefore, the asset’s price within a period. Second, we have Implied volatility, predicting the movements within a market. The term implied is[…]
After Saturday’s Bitcoin plunge of 21%, investors are promoting “Fear and Greed.” Posting on Twitter and other social media platforms, they claim that this plunge is an opportunity for people to get on the Bitcoin bandwagon. What is a Fear and Greed Index? Fear and Greed is a way to measure volatility, momentum, and demand in the traditional market. However, the crypto version of this idea goes as follows. It can establish if traders[…]