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How Tax on Cryptocurrency Applies to Miners & Traders

Capital gains tax reforms for 2018 have changed how the Internal revenue Service applies tax to cryptocurrency. Traders and cryptocurrency miners need to be aware of how tax on cryptocurrency applies to their specific situation. For day traders, short-term capital gains tax will apply to every trade. For miners, cryptocurrency is taxed as income.

Cryptocurrency Tax Explained – How to Calculate Capital Gains Tax

In 2014, the U.S. Internal Revenue Service categorized all forms of cryptocurrency as property. By being classified as property, capital gains tax applies whenever cryptocurrency profits are realized. A 2017 amendment to the U.S. tax code, makes capital gains tax applicable whenever digital assets are traded for like amounts of other cryptocurrencies.

Decred Review

Developed and launched in 2016, this cryptocurrency has its primary focus on open governance, community input, sustainable financing and development. This altcoin makes use of a hybridized consensus mechanism that enables the creation of balance between miners and users, in turn enabling one of the most powerful altcoins.

Siacoin Review

The cloud storage industry is a massive industry that was estimated at exactly $178 billion as of 2017. Companies like Microsoft, Dropbox and Amazon are key players in the cloud storage industry. The term “cloud storage” basically refers to the storing of data. The Siacoin network seeks to disrupt the cloud storage industry.

Bitshares Review

Developed by Dan Larimer and launched in July 19 2014, Bitshares is an open source platform which has its primarily aim of exchanging various cryptocurrencies with the platform itself based on blockchain technology. This blockchain based network was built on the Graphene which in itself is an open source blockchain implementation.

Zilliqa Review

The Zilliqa network seeks to offer a solution to the scaling issue that plagues the crypto sphere. The Zilliqa network happens to be the only network that makes use of “Sharding”. This enables the network’s blockchain to become fast as the size of the network grows.

0x Review

0x is basically an open protocol that seeks to enhance the operations of decentralized exchange of the Ethereum based tokens. Third Party developers could make use of the 0x token to build their own specially designed decentralized applications with tons of user features. The 0x token is used by takers and makers to pay for transaction fees.

Real Time Cryptocurrencies Arbitrages with Crossd.io – Full Review

Arbitrage trading is a strategy which sees traders take advantage of different coin prices listed on different cryptocurrency exchanges. Arbitrage trading is possible thanks to coin prices differing among exchanges in different geographic locations and timezones. Arbitrage cryptocurrency trading is high-risk. However, new platform Crossd.io makes arbitrage trading altogether easy.