Cryptocurrency

Mastering Cryptocurrency Trading: A Beginner's Guide

Wednesday. October 30 at 2:00 AM

1 min. read

Cryptocurrency trading requires thorough research and strategic planning. Understanding the fundamentals of each coin, developing a suitable trading strategy, and managing risk are crucial steps. Utilizing stop-loss orders and diversifying investments can help mitigate losses. Staying informed about market trends and news is essential due to the market's volatility. Trading involves buying and selling digital assets to profit from price fluctuations. Different trading styles like day trading, swing trading, scalping, and HODLing offer various approaches. Conducting market analysis through fundamental and technical analysis is vital. Knowing the difference between going long and short, bull and bear markets, and the distinctions between crypto and stock trading is essential. Beginners should choose between stablecoins and altcoins based on risk tolerance. Tips for becoming a better trader include research, risk management, emotional control, continuous learning, and tracking trades. Additionally, exploring other profit-making methods like staking, yield farming, airdrops, NFT trading, and mining can enhance earnings potential.

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OKX Partners with Standard Chartered for Crypto Custody Services

Wednesday. October 30 at 3:00 AM

OKX has teamed up with Standard Chartered to have the banking giant serve as the official third-party crypto custodian for the crypto exchange's institutional clients. This collaboration aims to challenge the norm and pave the way for future developments. By partnering with @StanChart, OKX enhances its services for institutional clients, focusing on security and innovation in the crypto sphere. OKX's chief commercial officer, Lennix Lai, views this partnership as a strategic move towards solidifying the exchange's position among the top global crypto companies. Standard Chartered's involvement will provide a secure platform for institutional customers to venture into the digital assets market. The collaboration enables clients to separate trading from custody, offering a seamless integration of digital assets into the traditional financial system. Standard Chartered's expansion in the crypto space includes a digital asset custody solution in the UAE, catering to institutional clients for Bitcoin and Ethereum custody, with plans for more assets in the future.

Cryptocurrency

Mastering Cryptocurrency Trading: A Beginner's Guide

Wednesday. October 30 at 2:00 AM

Cryptocurrency

Understanding Cryptocurrency Taxation: Key Considerations

Wednesday. October 30 at 1:30 AM

Cryptocurrency is considered taxable property by the IRS and other tax authorities, with failure to report gains resulting in audits, fines, or criminal charges. Back taxes and interest may apply to unreported crypto earnings, while missed opportunities for tax benefits can arise from not reporting transactions. The IRS treats Bitcoin as property, requiring reporting of gains or losses regardless of holding size. Various countries tax crypto as an asset, with tax implications varying globally. Capital gains tax applies to profitable crypto sales, while ordinary income tax covers staking rewards and mining. Each crypto transaction is a taxable event, necessitating accurate reporting to avoid penalties. The IRS provides guidelines on crypto taxation, including reporting processes and penalties for non-compliance. Seeking professional advice can aid in accurate reporting and compliance with tax laws, ensuring responsible investing in the cryptocurrency market.

Cryptocurrency

Skepticism Towards Canadian Digital Dollar Adoption

Tuesday. October 29 at 11:30 PM

Canadian consumers have shown skepticism towards the early adoption of the Bank of Canada's concept of a digital dollar. Despite growing support for a digital Canadian dollar, a recent research paper by the Canadian central bank revealed that Canadians still prefer traditional fiat-based payment systems. A Bank of Canada survey indicated that the majority of Canadians favor cash and card payments over cryptocurrencies for day-to-day purchases. While some participants had favorable impressions of a digital Canadian dollar, concerns about reliability, privacy, and security were raised. The survey also highlighted that users facing payment challenges may be late adopters of a digital currency. The Bank of Canada recognizes the need for significant investment and awareness campaigns to drive adoption. Additionally, the bank is shifting its focus from retail CBDCs to broader payments system research and policy development, following similar decisions by Australia and Colombia.

Cryptocurrency