The growth in the prominence of cryptocurrency and the shifting perceptions and acceptance of cryptocurrency over the years among individuals, entrepreneurs, as well as corporations has fostered the recognition of cryptocurrencies as an asset or property by the IRS, the implication being that your cryptocurrency is taxed just like assets such as stocks. Crypto taxation… Read More »
One of the strategies towards incorporating cryptocurrency in your business is through partnering with third party vendors. There are two primary paths that a business can select in cryptocurrency usage namely; a hands-on or a hands-off approach. While a hands-on approach entails the adoption of cryptocurrency in a business’ entire operations, a hands-off approach entails… Read More »
The high volatility and uncertainties surrounding cryptocurrencies make them inherent to myriad risks. Further the increasingly high growth in terms of the value of cryptocurrencies has increased their level of vulnerability to thieves and hackers. Since cryptocurrencies are decentralized and thus not regulated by governments or frameworks, they are more susceptible to criminals. In essence,… Read More »
The cryptocurrency market has been following an upward trajectory over the years amidst the accompanying price volatilities. Essentially, many businesses, individuals, entrepreneurs, as well as corporates are joining the cryptocurrency bandwagon. Renowned companies such as Tesla and PayPal are allowing payments for products and services using cryptocurrency. Further, cryptocurrencies are being used globally for operational,… Read More »
Cryptocurrency trading is a strategic approach for a business to incorporate cryptocurrency into its business. Cryptocurrency trading entails the buying and selling of cryptocurrencies on an exchange platform with the intent of making profits or speculating on the price movements of specific cryptocurrencies by opening a CFD trading account. In order to be an effective… Read More »
Obtaining real-time market data when trading cryptocurrencies is crucial to avoid making losses. However, while drawing market data is instrumental in understanding the trajectory of specific cryptocurrencies, it is essential to integrate it with other components of trading such as network statistics and charting tools in order to minimize trading related errors. A market data… Read More »
Cryptocurrency exchange, also referred to as a digital currency exchange (DCE) is a platform that facilitates the exchange of cryptocurrencies either through crypto trading or through exchange of crypto to other assets, as well as fiat currency. There are several cryptocurrency exchange platforms in the market with differing features and offerings. In order to choose… Read More »
Creating your own cryptocurrency especially if your business leans more towards the block-chain related business is a good strategy of incorporating cryptocurrency into your business. Many block-chain related startups are leaning more towards creating their own cryptocurrencies as an option in support of a virtual product or as an option towards monetizing their ideas. Creating… Read More »
Cryptocurrency is the future of currencies and as such, many business are embracing the use of different coins in their everyday business transactions. Advantages associated with crypto such as immunity from geographical restrictions, as well immunity from government regulations are among the factors that are fueling the increasingly high penetration of cryptocurrencies’ use especially among… Read More »
As a result of economic uncertainties coupled with higher inflation rates, many entrepreneurs, businesses, companies, as well as organizations are often on the lookout for viable ways of hedging their funds from inflation-related fluctuations. However, while cryptocurrencies are also subject to high levels of volatility, they are strategic alternatives for hedging your money against inflation… Read More »
The increase in usage and value attached to cryptocurrency has fostered a subsequent increase in theft, hacking, and fraud cases, which makes it increasingly challenging for cryptocurrency holders to address as a result of the relatively vague or non-existent regulatory frameworks that surround cryptocurrencies. The most common or readily available wallets or storage options are… Read More »
Nodes refer to internet connected devices that provide support, efficiency, and security to a blockchain platform. Nodes perform myriad functions including verifying transactions, processing data, processing transactions, acting as a point of communication by connecting with other nodes, and storing and encrypting information in a block. Characteristically, nodes are used by developers in the development… Read More »
A cryptocurrency wallet refers to a virtual wallet that stores your cryptocurrencies and is characterized by a private key that validates transactions made using cryptocurrency. In essence, a wallet not only provides secure storage and safe transactions but further manages your cryptocurrencies. Cryptocurrency wallets are categorized as hardware, desktop, mobile, paper and software wallets. There… Read More »
Cryptocurrencies can be acquired or transferred without the need for third party mediation. There are myriad acquisition methods for cryptocurrency such as cryptocurrency exchanges, payment processors and brokerages. The requirements for acquiring cryptocurrency vary with the type of acquisition method selected. For instance, some cryptocurrency exchange platforms that implement the Know Your Client (KYC) policies… Read More »
The capabilities associated with cryptocurrency, and more so the blockchain technology are endless. Cryptocurrency is futuristic and as such, it is strategic both financially and investment-wise to implement cryptocurrency in your business transactions. However, before implementing the technology into your business activities, it is essential to conduct an analysis of your current business infrastructures to… Read More »