Category: Cryptocurrencies
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What is XRP and how does it work?
Ripple is one of the big boys in the cryptocurrency space, heavily recognized for its contrarian approach towards cross-border payments and financial transactions. The project, which started back in 2012, had but one purpose: to disrupt the manner with which money moves around the world. Its focus is essentially on instant, cheap international money transfers;…
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Top most eco-friendly cryptocurrencies
Climate change has unequivocally emerged as one of the most significant and pressing challenges confronting the global community today. This issue has catalyzed a widespread imperative for businesses across various sectors to embrace and integrate sustainable and eco-friendly practices into their operational frameworks. The cryptocurrency industry is no exception to this broader trend. In recent…
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Cryptocurrency and taxes; what you need to know
The IRS (Internal Revenue Service) incorporates cryptocurrency within its tax framework, delineating that income and capital gains derived from cryptocurrency transactions are subject to taxation. This regulatory stance underscores that while profits and earnings in the crypto realm face tax obligations, certain liabilities associated with cryptocurrencies may enjoy a tax-free status, reflecting a nuanced approach…
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How to protect your cryptos against scammers?
Scammers continually seek innovative methods to exploit financial systems, and the rapid expansion of cryptocurrencies has presented numerous opportunities for fraud. In 2021, cryptocurrency-related crimes reached unprecedented levels, with scammers absconding with $14 billion in digital assets. As an investor considering participation in the cryptocurrency market, it is imperative to be aware of these potential…
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What is Ethereum and how does it work?
Following Bitcoin, Ethereum (ETH) is the next most widely used digital currency. Established in 2015 by Vitalik Buterin and Gavin Wood, Ethereum’s valuation now accounts for around 20% of the $1.1 trillion worldwide digital currency market. Ethereum is, in the description of the cryptocurrency, “a worldwide, decentralized system for money as well as new kinds…
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Bitcoin vs Ethereum; which one is better?
Bitcoin (BTC) and Ethereum (ETH) are the two of the fastest-growing cryptocurrencies, and they have significantly aided the development of the industry. Bitcoin was the very first cryptocurrency to be formed and is referred to as digital gold or “gold 2.0,” whereas Ethereum is regarded as a global decentralized system. These two are…
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What is Cryptocurrency and how does it work?
A guide through Cryptocurrency… Cryptocurrency is a type of digital or virtual money that use algorithms for encryption to safeguard and authenticate transactions as well as to govern the generation of new units. Cryptos, as opposed to traditional currencies, have no centralization and function independently of any central authority. The phrase “cryptocurrency” means the use…