Income tax: Profits and losses from cryptocurrency transactions must be shown in a non-incorporated business’s accounts and are taxable/allowable under conventional income tax laws.
MoneyNews MoneyMOON MONEY SafeMoon price prediction 2021: Can the cryptocurrency reach $1?
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Cryptocurrencies like Bitcoin have traditionally had little price correlation with the stock market in the United States, so owning some can help diversify your portfolio. If you believe that cryptocurrency usage will grow in popularity over time, it's probably a good idea to invest in crypto as part of a balanced portfolio. Make sure you have an investment thesis for each cryptocurrency you buy. This will help you understand why the currency will stand the test of time.
Elon Musk’s announcement that Tesla would no longer be accepting Bitcoin as payment on environmental concerns was followed by China issuing a crypto crackdown.
Indeed, following its nearly $20,000 peak, bitcoin in early 2018 dropped to around $10,000 and hovered there for a while.
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The launch of the SafeMoon (SAFEMOON) wallet ran into unexpected technical issues, shortly following its release.
According to Cointelegraph business editor Sam Bourgi, Bitcoin is viewed by many as the best “hard money” alternative to sovereign currencies and:
Turning to the relationships between different cryptocurrencies, significant coherence is observed in the medium and long term between Bitcoin and Litecoin, which it is believed is due to their similarity. It is seen that short term correlations between the cryptocurrencies considered here are dependent again on news items and market wide events. We want your feedback. Do these Subject Areas make sense for this article? Click the target next to the incorrect Subject Area and let us know. Thanks for your help!
Buying interest in options tracking cryptocurrency ‘exploded’ after launch of bitcoin exchange traded fund
“You can’t ever determine how long or how far up a speculative investment can go, and you tend to be very shocked at how much it falls,” she said.
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In the meantime, cryptocurrency users (and nonusers intrigued by cryptocurrency’s promise) need to remain ever-mindful of the concept’s practical limitations.
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The recent trading frenzy over a digital token called Shiba Inu — commonly billed as a “meme” or joke coin — has vaulted the canine-themed cryptocurrency into the top ten most valuable digital assets by market value, hitting $40 billion and surpassing its cousin and apparent inspiration, Dogecoin.
Safemoon is a member of the group of tokens known as memecoins. Memecoins are crypto tokens or coins based on internet memes. Specifically, Safemoon derives its name from a popular slang term in crypto discussion forums—’going to the moon’. This expression refers to the price of a crypto asset rising very high over a very short period.
SafeMoon Protocol is a decentralized finance (DeFi) token. The protocol launched in March 2021 and has already more than 1 million users. SafeMoon stands for "Safely to the Moon", a phrase that was adopted by Redditors about DogeCoin which refers to the price going upwards "as high as the Moon". SafeMoon protocol is a combination of RFI tokenomics and an auto-liquidity generating protocol. According to the SafeMoon website, SafeMoon has three functions that take place during each trade: Reflection, LP Acquisition and Burn. SafeMoon plans to develop a non-fungible token NFT exchange, as well as charity projects and crypto educational apps.