taxes on bitcoin


Cash in on the Bitcoin boom with this cryptocurrency crash course

Watch your Bitcoin investments soar.

Aug 14, 2017, 1:36 pm*


Learn the ins and outs of Bitcoin before everyone else does with this cryptocurrency crash course. Your small investments will soon turn into piles of cash.

1) What is Cryptocurrency?

Cryptocurrency is just a fancy word for a type of digital money that pays for a variety of goods and services. And while you may be able to use cryptocurrency in the outside world, it’s far more common to see it online. That’s because the primary form it takes is data, in either peer to peer exchanges through an online service or a “wallet.”

2) Why buy Bitcoin?

While Bitcoin certainly is most dominant form of cryptocurrency on the market, other forms of digital currency exists. That’s because the appeal of cryptocurrency can be high, especially in a world as digital as our ours. Unlike your regular old form of currency, cryptocurrency can’t be stolen. By design its secure, using cryptography to convert legible information into a code that cannot be cracked. It’s that code that’s being used to make purchases and transfers. And it’s that code that, at the end of the day, makes the user totally anonymous.

Unlike banks, the fees to use cryptocurrency are low. Another benefit? You can’t counterfeit cryptocurrency. That makes transactions serious and accessible to anyone. In its best usage, cryptocurrency allows for an honest exchange of goods and services for a form of money that can’t be hacked.

3) How is Bitcoin going to make me rich?

The biggest boon to using cryptocurrency—it’s totally decentralized nature—is also its biggest downside. The cryptocurrency market can be downright volatile, resulting in anything from a crash to a surge. But like stock trading, the occasional big lows can make for some pretty extreme highs. And if you hedge your bets correctly, you’ll come away with huge wins. Currently, Bitcoin is trading for upwards of $4,000 a share. Last month, it was hovering around $1,500. Small investments become huge piles of cash.

Anyone who invests in Bitcoin can tell you a controversial breakaway from the company called Bitcoin Cash is the talk of the cryptocurrency town. Bitcoin Cash is breaking records since it came onto the scene August 1. It’s doing so well, competitors are threatening to sue the company for the way its impacting business. On the second day of trading, Bitcoin Cash already tripled its value — placing the newcomer as the third largest holder of all digital currencies.

Investors who don’t mind a bit of tightrope walking know that cryptocurrency trading can lead to huge profits. All it takes is a little market savvy and a sense of adventure. This crash course shows you strategies to invest in altcoins and find the best starting point in the market. This course contains 27 lectures and two and a half hours of content that you can access anytime.

The Beginner’s Guide to Cryptocurrency Investing is available on the Daily Dot Store for $15 (regularly $180).

Buy it here


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*First Published: Aug 14, 2017, 12:13 pm