Posts tagged educational
The Cryptocurrency Research Tools Everyone Should Use

The purpose of this article will not be to cover everything you will need to know about cryptocurrency, but to provide resources that can help you better understand the market. Over 5,000 cryptocurrencies have been launched since 2009 when Bitcoin first came to life, so researching each and every asset is nearly impossible. However, with the tools we discuss throughout the remainder of this article, you will have a strong foundation for ways to gather information and make informed decisions.

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How to Invest in Bitcoin: 3 Easy Steps

Investing in Bitcoin is way easier today than it was just a few short years ago, or even last year! Bitcoin exchanges have made strides in softening up the user-experience from a hackery, hard to navigate one to a process on-par with using Amazon Prime.

Regardless of what technology the future brings, you can invest in Bitcoin right here, right now, by following the simple steps outlined in this guide.

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Bitcoin vs. Cash Inflation — Which Is Better?

Of the many things that can and have been said about money, there is one that is probably true for everyone: money should hold value.

On the surface, this seems like a self-evident statement. Money should hold value — who would disagree? However, there is another layer implying that to hold value money should not lose value.

As such, money should store value by either retaining the value it already has, or increasing in value, but certainly not losing it. That's where the chorus comes in, singing about how Bitcoin is a store of value, but let's not get ahead of ourselves.

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Know These Accounting Methods Before Filing Your Crypto Taxes

The Internal Revenue Service (IRS) allows individuals to use any accounting method for filing their crypto taxes in the United States. Just as important as it is to understand different algorithmic trading strategies to increase your profits, understanding different accounting methods decreases your tax bill on those profits.

To understand how to calculate your crypto taxes, you need to consider that the IRS treats crypto as property. You are taxed on your net profit, which is the sell price minus the buy price and fees (known as the capital gain/loss) for each trade.

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Threshold Rebalancing - The Evolution of Cryptocurrency Portfolio Management

In the Shrimpy Application, threshold rebalancing is a strategy which can be implemented by users to control for risk. Automating your portfolio has never been easier. In seconds, implement a dynamic cryptocurrency index fund which tracks the market or allocate a portfolio of your own design. Manage a diverse portfolio across numerous exchanges by linking each of your exchanges to the Shrimpy application.

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Crypto Tax Reporting Tips for High Volume and Algorithmic Crypto Traders

The U.S. tax filing deadline, April 15th, is right around the corner. For most people, getting their taxes filed for the year is a painful process. This is especially true for those investing in cryptocurrencies, as reporting gains and losses in US dollar terms is required for every trade. In this guide, we’ll discuss different tax reporting tips that those leveraging crypto trading bots and automated strategies can use to make their crypto tax reporting easier.

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How to Calculate Your Cryptocurrency Portfolio Performance

Due to the complexity of factoring deposits, withdrawals, and other situations into the performance calculation, we’ve put together a full outline of how to precisely evaluate your portfolio returns.

The time-weighted rate of return uses a more complex formula for calculating the performance of a portfolio over a time period. By factoring in deposits and withdrawals, we can accurately calculate the rate of return over a specific period of time.

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7 Tips for Getting Started with Cryptocurrency Trading

The bulls are once again starting to see the light of day in the crypto market. When the mainstream media outlets begin to turn their attention back to cryptocurrency, traders will flood into the space. The explosive growth will result in millions of incumbents looking for a quick buck, threatening another bubble for this volatile asset class. Start out with the correct foot forward by reading this article and taking these lessons to heart.

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