My Crypto Currency Blog

  https://www.investopedia.com/news/bitcoin-safe-storage-cold-wallet/ After reaching a peak in price late 2017 and subsequently fading from popularity, cryptocurrencies like Bitcoin have experienced a more another significant surge through 2019 and 2020, surpassing their previous all-time highs. As this has taken place, so too have the number of  publicized hacking events  increased as well. Given that many investors are new to the system and may not know how to keep their investments secure, hackers are coming up with ingenious ways of stealing funds. Some of the most prominent thefts have been those that have taken place in plain sight: some hacks even blatantly reroute tokens bound for one wallet for another. The victims watch as their tokens are stolen away from them, with nothing they can do about it. KEY TAKEAWAYS Users can lose bitcoin and other cryptocurrency tokens as a result of theft, computer failure, loss of access keys, and more. Cold storage (or offline wal...

  Many people often ask, ‘how many hardware wallets or Bitcoin wallets do I need to have’? The answer is simple. You should have many. Diversification in terms of storage of cryptocurrencies is vital. You cannot rely on one wallet. Your one wallet can be the unlucky one to get destroyed or be lost. And in such a case, your other wallet can be helpful for you to recover your crypto funds. But if you cannot have many wallets, then you should have atleast two wallets to store your cryptocurrencies safely. In this guide, I am going implore you to have a second or even maybe a third wallet with logical reasoning. Remember: This is for your safety, so make sure to read it till the end. .... https://themoneymongers.com/multiple-wallets/

  https://www.nbcboston.com/lx/how-to-make-money-with-cryptocurrency-like-bitcoin/2366645/

  Hi i am looking for a place to buy/sell Ethereum in AUSTRALIA. What is the difference between BTCmarkets.com and independent reserve? Which one is cheaper and more effective? Which one is more trusted? Are they both easy to buy and sell Ethereum? Do i need any other programs with either? First reply There isn't really much difference overall. They both are effectively the same thing, Australian based P2P crypto exchanges. BTCMarkets fees start at 0.85% (they do decrease with volume pretty quickly though). IR fees start at 0.5% (they decrease with volume, but you need a lot of volume). BTCMarkets overall is much more popular, maybe 3 times more volume. So it is more liquid/stable. A slight annoyance I have with Independent Reserve is it takes a lot more confirmations for your coins to clear. i.e. when I send ether to IR it took 30mins until I could use them, where as with BTCm it was only 10mins. (I'm not sure, but I think bitcoins are similar). You don't need other progra...

  There’s been a lot of hype about Bitcoin, and if it’s piqued your interest you might be wondering how on earth to start trading in this digital currency. Here is a roundup from Canstar on how to buy bitcoins in Australia. If you’re starting out navigating the world of cryptocurrency it can be difficult to know where to start. Below is a breakdown of what Bitcoin is and a step-by-step guide to buying and using it in Australia. ... Read the whole article here, https://www.canstar.com.au/investor-hub/how-to-buy-bitcoin/

Sales and purchases of digital currency are not subject to GST from 1 July 2017. This means that you do not charge GST on your sales of digital currency and similarly, you are not entitled to GST credits for purchases of digital currency. You do not have any GST consequences in relation to buying or selling digital currency, or using it as a payment, if you are not carrying on a business. If you are carrying on a business in relation to digital currency, or as part of your existing business, or if you are accepting digital currency as a payment in your business, you need to consider any GST consequences that may arise. https://www.ato.gov.au/business/gst/in-detail/your-industry/financial-services-and-insurance/gst-and-digital-currency/

 Australian Taxation Office article, The term cryptocurrency is generally used to describe a digital asset in which encryption techniques are used to regulate the generation of additional units and verify transactions on a blockchain. Cryptocurrency generally operates independently of a central bank, central authority or government. The creation, trade and use of cryptocurrency is rapidly evolving. This information is our current view of the income tax implications of common transactions involving cryptocurrency. Any reference to 'cryptocurrency' in this guidance refers to Bitcoin, or other crypto or digital currencies that have similar characteristics as Bitcoin. If you are involved in acquiring or disposing of cryptocurrency, you need to be aware of the tax consequences. These vary depending on the nature of your circumstances. Everybody involved in acquiring or disposing of cryptocurrency needs to keep records in relation to their cryptocurrency transactions. If you have tra...