Connect with us

Crypto News & Updates

Tesla Will Accept Dogecoin | Weekly Crypto updates – Dec 20, 2021

Published

on

Crypto Updates

After the FED made a statement, the crypto market went up. Tesla will accept Dogecoin, and you can give crypto as a gift this holiday season. These crypto updates and more are in this week’s crypto updates.

After the FED made a statement, the crypto market briefly rose but fell back down again.

Crypto Updates

Immediately after the Federal Reserve said it would speed up the process of cutting back on asset purchases, crypto prices rose for a short time. This could have been because traders were worried about an even more aggressive policy change.

Jerome Powell, the head of the Federal Reserve, said that he is not worried about crypto from a financial stability point of view. However, he also said that he thinks stablecoins could be helpful if properly regulated.

Elon Musk Moves Dogecoin Price

Crypto Updates

The price of Dogecoin rose by 28% in an hour after a tweet from Elon Musk said that Tesla would accept Dogecoin for merchandise.

The news came just one day after Time Magazine named Elon Musk its Person of the Year. Musk said that Dogecoin is better for transactions than bitcoin.

For more information on dogecoin, you can look into our articles right here:

90% of Bitcoins have been mined.

As of last week, 90% of all bitcoins have been mined, so some are still left. However, coins from the maximum supply of 21 million are now used. 18.9 million of them are currently in use. The first milestone was reached just 12 years after the first bitcoins were mined. However, because of the bitcoin halving schedule, it will be another 100 years before the rest of the bitcoins can be mined.

The governor of Florida wants to use crypto payments.

People in the state of Florida will be able to pay their taxes and other fees with crypto through a new department that will be set up. This is what the governor of the state, Ron DeSantis, said.

Advertisement

He said that he wants Florida to be a place where people can do business with cryptocurrencies, which he thinks will help the state grow economically down the road.

The mayor of Miami switched his 401(k) to crypto.

Francis Suarez, the mayor of Miami, said that he plans to put some of his 401k money in Bitcoin.

A public advocate for bitcoin has been Mayor Suarez this year. Suarez is working to make it possible for the city’s municipal workers to be paid in bitcoin.

Kraken wants to build an NFT marketplace.

Crypto Updates

The crypto exchange Kraken has said that soon, it will be able to accept non-fungible tokens. This will give investors a chance to invest in the growing NFT market.

Not all of Kraken’s NFT services are known, but it will help move some NFT activity off the blockchain, which will help keep both minting and transaction fees low for both NFTs and other coins.

Advertisement

Amazon has bought a stake in NFT Collectibles from the company.

Recently, Amazon bought a sports trading card market called Dibbs. The platform lets people list collectible trading cards and then mint them into NFTs that can be bought and sold in small amounts on the Wax blockchain. This is how much Amazon has invested, but how much money they have isn’t clear.

Source

Millennial Millionaires Heavily Invest in Crypto

A new CNBC survey found that 83 percent of millennial millionaires have much money in crypto and plan to keep investing in crypto in 2022.

This is very different from the baby boomer millionaires who were surveyed. Only 4% of them own any cryptocurrency.

Source:

Advertisement

Christmas is coming, and you can give cryptocurrency as a gift.

Crypto Updates

If you want to give someone the gift of crypto this holiday season, you can do it through Coinbase’s digital gifting service. Your unique gift is sent through the digital card with the crypto of your choice and an NFT-themed piece of art by a tan up-and-coming artist. But, of course, because the best gift is one they can keep for longer-term/HODL.

Conclusion on this week Crypto Updates

That’s what happened this week in crypto. We’ll see you next week. Thanks for coming by. To ensure you don’t miss a review or news update about Bitcoin or cryptocurrencies, sign up for our cryptocurrencysimple.com newsletter. Happy Holidays to you, too, Mom!

Bitcoin

Crypto News in Russia & Ukraine War Invasion Conflict !🚀 Bitcoin New Digital Gold in War in 2022?

Published

on

Russia &Amp; Ukraine

This crypto news update is regarding the Russia & Ukraine war conflict, how cryptocurrency plays an essential role in bypassing sanctions, and much more! So let’s go!

As you guys know, with the Russia and Ukraine conflict going on, crypto has been in the spotlight lately because there are so many sanctions out; therefore, the Russian government wants to use crypto as a loophole. So basically, crypto is becoming more popular than ever. We will address some of the significant issues described in this article. And the overall crypto market guys have been a little bit shaky. 

Lately, the crypto market has been going up and down at the time of the recording, bitcoin is going down again six percent at about 39040, ethereum is down 2686, and Binance coin ( BNB ) is 378. 

It seems like this war conflict will be going on for a while because, as you guys know, Putin and the French president had a long one-hour discussion, and it seems like Putin is not giving away, and he’s going to make this a long-term conflict. 

So can crypto be used to avoid sanctions during Russia & Ukraine

That is an excellent question because, as you guys know right now, many Russian banks are sanctioned, and portions of the swift system are also sanctioned. So this has led to a debate on whether cryptocurrencies, especially bitcoin, can evade the restrictions because cryptocurrency is decentralized. There’s no way to enforce cryptocurrency restrictions.

Advertisement

It seems like one of the big things that they’re planning to do is that cryptocurrency exchanges will be on high alert to enforce the sanctions, and it goes on to say that every u.s business has to follow the law. So be up to like us entities like Binance, coinbase, and whichever cryptocurrency exchange out of the u.s or any countries that have those sanctions it’ll be up to them to enforce it.

And they’ll be doing this with global watch lists and blocking transactions from different IP addresses from Russia & Ukraine. So it is saying that it will definitely try to enforce it, but there is no guarantee because, as you guys know, people can use VPNs and different things like that.

And then the second issue, guys, is if bitcoin isn’t the digital goal, and I love bitcoin. As you see right now, if you guys had bought into bitcoin like before the pandemic started, you would know that you’re doing pretty well. Bitcoin has a market capitalization of 748 million, along with ethereum. It’s like the biggest or has the most market share globally. So I think it’s definitely a digital goal. It’s going to be around for a long time. So it’s hard to put sanctions around bitcoin.

Just because it has to be enforced, kind of like at the cryptocurrency exchange level, because cryptocurrency costs will be stored like in a wallet or metamask, and there’s no way to implement things like that.

Russia &Amp; Ukraine
Russia & Ukraine

 And then the third major issue that this article talks about is that blockchain technology is proven, and just recently, guys, for the war efforts, Ukraine is now accepting dogecoin and other cryptocurrencies for donation. They have managed to raise 35 million dollars already!

So as you see, cryptocurrency is making a significant impact, and I think as long as you’re dealing with cryptocurrencies like in the top 10 or the top 20, as you see right here, bitcoin, ethereum, TESLA, BNB, & XRP things like that. All of these cryptocurrency guys, they’re proven!

Advertisement

 okay, there’s like no loopholes, there are no scams, there are no things like that, but some of the other cryptocurrencies, such as smart contracts or meme tokens that people start with smart contracts are very dangerous just because the person that creates the smart contract owns all the tokens but as long as they’re trading with the top 10 or top 20 cryptocurrencies such as dogecoin and so forth I think it’s going to be okay

 I think this is an exciting time to be in crypto; even though the crypto market is not doing too well recently just because of the war efforts and the overall stock market is down, the Crypto market is here to stay going to be a way for people to use as a different way to stash their income stash their assets.

So if you guys enjoy this crypto news update regarding the Russian & Ukraine conflict. With all our informative articles are just for entertainment purposes, I’m not a financial advisor. It’s not financial advice. Please make sure you do research, so thank you guys for reading and having me your time!

Do check out more articles on cryptocurrencysimple.com.

Advertisement
Continue Reading

Blockchain

TERRA, LUNA & Polygon, (MATIC) PRICE DROP, BITGERT SURGE TO BULLISH price move in 2022

Published

on

Luna &Amp; Polygon

The cryptocurrency market is now bearish, with most cryptocurrencies experiencing price decreases in the last 24 hours. However, a few cryptocurrencies are defying the trend and posting significant gains. When terra and polygon prices were falling, Bitgert was one of the few cryptocurrencies that remained bullish. Read on to learn more about the Bitgert pricing increase:

Bitgert

Terra, Luna &Amp; Polygon, (Matic) Price Drop, Bitgert Surge To Bullish Price Move In 2022

Even when the market is gloomy, the Bitgert price has been soaring. Even while the cryptocurrency market was plummeting, Bitgert was rising throughout the last two weeks of February. This is due to Bitgert’s remarkable quickness in delivering products. The Bitgert team unveiled a game-changing BRC20 blockchain in mid-February, which has taken the crypto world by storm.

The Bitgert BRC20 blockchain is a zero-gas chain with a transaction cost of $0.0000000000001. The crypto community is excited about it because it is currently the cheapest gas in the industry. After passing Solana 65k, the Bitgert chain now has a TPS of 100k, making it the fastest chain. With so many new projects hitting the market, including Brise CEX, more investors flock to $BRISE. That is why the price of Bitgert is rising in a gloomy market.

Centcex

Terra, Luna &Amp; Polygon, (Matic) Price Drop, Bitgert Surge To Bullish Price Move In 2022

The Centcex team is completing the roadmap on schedule and within budget. Furthermore, the team has put a lot of effort into building items for the network. The product development has already begun, demonstrating the team’s dedication to this project. This is one of the most recent things the team has said. The Centcex exchange has finished a lot of important parts.

But the Centcex team is working on many more products, in fact, an infinite number. dApps, staking programs, and various other items will be available. The Centcex staking reward is a 100 percent APY with all of these products. These are the leading causes for Centcex’s price stability.

This is a polygon (MATIC)

Terra, Luna &Amp; Polygon, (Matic) Price Drop, Bitgert Surge To Bullish Price Move In 2022

Polygon (MATIC) is one of the major cryptocurrencies that has seen its price fall today. Although the market is generally pessimistic, polygon is seeing a considerable decline in cryptocurrency prices. However, the price decline in Polygon could be influenced by increased competition from other initiatives like Bitgert.

One of the reasons Polygon (MATIC) is underperforming is the arrival of the Bitgert chain. Bitgert’s adoption rate may begin to decline due to its faster speed and lower gas fee than Polygon. As a result, the price may drop even faster.

 Terra (LUNA)

Luna &Amp; Polygon

Terra (LUNA) has had one of the best price performances in the crypto market. This is one of the cryptocurrencies that performed exceptionally well during the fourth week of February. Terra’s population has been rapidly expanding. However, the price of Bitgert has dropped in recent days, although it is skyrocketing.

The Terra (LUNA) hasn’t released many game-changing products like Bitgert or the BRC20 blockchain. Moreover, the Terra team hasn’t yet said whether or not they’re going to build their blockchain yet. As a result, Bitgert may keep beating Terra.

Advertisement

This was all about referring you what cooking inside Luna & Polygon, for simple ad quick information do checkout another articles on terra and matic:

I am done. I will see you in a bit. Until then, keep simplifying your learning through cryptocurrencysimeple.com.

Continue Reading

Bitcoin

{ LEGIT } Why You Don’t Have to Pay Crypto Taxes anymore in 2022

Published

on

Crypto Taxes

I told my accountant that I was not paying crypto taxes this year. Earlier in the year, I was so happy. I had made some good money buying and selling Bitcoin.

And I generally know that when you buy and sell an asset like crypto, you have to pay capital gains tax on it. But I didn’t want to give the government even more of the money I needed to live. So when I told my accountant that I was not paying crypto taxes, she said I had to. However, she also said, “Hey, Pushkar, if you don’t wanna take my word for it, why don’t you speak to an accountant who specializes in crypto taxes?” So that’s what I did.

Crypto Taxes

Do You Have to Pay Taxes on Your Crypto Earnings?

Do I have to pay taxes on your crypto gains? – So, the answer is yes, you do have to pay taxes on your crypto gains. And it’s even asked as one of the first questions on page one of your tax return. 

How Much in Crypto Taxes Do You Owe?

if you have to pay income tax on your crypto gains, how much do you have to pay? – So the amount of tax you have to pay depends on your circumstances. It largely depends on whether you’ve made money or lost money and whether you’ve held the asset, the cryptocurrency, for more than one year or less than one year. 

If you’ve held your Cryptocurrency for less than one year, any gains that you have will be taxed at your ordinary-income tax bracket. This is the amount and percentage of tax you would pay on your wages from your employer. 

But if you’ve held your Cryptocurrency and then sold it after one year, then you get a favorable tax rate, which is called the capital gains rate. That ranges from zero to 20% based on your taxable income level, with most of America being taxed at 15%. 

Advertisement

Do You Need an Accountant or CPA to Do Your Crypto Taxes?

All this sounds complicated. let’s jump to another question; Do I necessarily need to hire an accountant to help me pay my taxes on my crypto? – The answer there is, no, you don’t have to. What you need are good books and records.

 For all of your crypto activity, you need to know four dates, the date you bought the Cryptocurrency, how much you paid for it, the date you sold the Cryptocurrency, and how much you received. I will say that if you’ve got 50 or 100 transactions, or if you’re in the lucky group of crypto millionaires, then I would suggest having someone look at your books and records to make sure it’s accurate. Of course, you’re taking advantage of all the favorable tax brackets available, but it’s not a complex calculation.

Crypto Tax Strategies for 2022

Now I got a question for you that I think you’re prepared for. And that is, how do we crypto thousandaire prepare for paying for taxes in 2022? – So, of course, everyone’s goal here is to pay as little tax as possible. So there are a few things that you can plan for to minimize the check that you’re going to have to write to the IRS. 

  1. You kept good books and records and chose the ones with the highest price you paid to minimize the gain. 
  2. Secondly, keep a real close eye on the date that you bought your Cryptocurrency to decide which ones were sold. Because that favorable tax rate only applies if you’ve held the Cryptocurrency and then sold it after one year. 
  3. And then lastly, I would say the IRS looks at all of your property as one bucket of gains and losses. So if you have gained on your Cryptocurrency, but you may have losses in some of your other investments, let’s say you invested in Home Depot or other publicly traded stock. You can sell that other stock that may be in a losing position, which offsets the gains you have in your Cryptocurrency. And then again, the IRS only looks at the net total. 
Crypto Taxes
crypto taxes

Bottom Line

The point of this informative article is that you may not have to. Before you ever invest in anything, it’s imperative to read up on it and to speak with knowledgeable people about your investment. If I had talked to Financial Expert before I invested in Bitcoin, I bet my taxes would have been a lot lower, and maybe, I wouldn’t have had to pay any tax at all!

My name is Pushkar. If you want to learn more about Cryptocurrency in a straightforward explanation, then do check out our most viewed articles only on cryptocurrencysimple.com.

Advertisement
Continue Reading

Trending