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Cryptocurrency
Is there a legal way to avoid tax on cryptocurrencies in Australia?
January 09, 2023 03:18 PM AEDT| By Ankit SethiTax is due when a CGT event arises. CGT is not levied when donating a crypto asset to a DGR.
Is it possible for Bitcoin to drop to zero?
January 06, 2023 06:33 PM AEDT| By Ankit SethiBitcoin essentially derives value from backers who continue to believe that the cryptocurrency can one day find broader utility. Any severe blow to this belief can trigger heavy losses in value.
Crypto winter of 2022 and the road ahead
January 06, 2023 10:52 AM AEDT| By Ankit SethiThere are speculations that Bitcoin and altcoins might bounce back and fears that values may drop even further given the atmosphere of high interest rates.
Can Bitcoin work offline?
January 05, 2023 02:15 PM AEDT| By Ankit SethiFor now, no Bitcoin transfers can be made without recording changes in the underlying blockchain network, for which internet connectivity is a must.
How do stablecoins like Tether make money?
January 04, 2023 03:58 PM AEDT| By Ankit SethiSome say, Bitcoin could be a not-for-profit currency system, which exists only to provide a blockchain-supported digital currency to people.
Do Australian banks accept Bitcoin?
January 03, 2023 03:54 PM AEDT| By Ankit SethiMany top-ranking banking officials across the world have warned that Bitcoin and altcoins pose many risks to the financial landscape.
3 biggest setbacks of cryptoverse in 2022
December 30, 2022 02:37 PM AEDT| By Ankit SethiCryptocurrencies and NFTs did not have a good run in 2022, with Bitcoin losing more than half its value and assets like Jack Dorsey’s tweet NFT failing to attract a high bid.
Do you need to declare crypto investments to ATO?
December 29, 2022 03:29 PM AEDT| By Ankit SethiThe ATO mandates preserving the records of all crypto assets-related transactions. Besides, reporting any income that accrues from the disposal of any such asset is also mandated.
Is cryptocurrency real money? What is its road ahead in 2023?
December 23, 2022 05:00 PM AEDT| By Ankit SethiIn 2022, the market value of the cryptoverse declined sharply, which has further caused concerns over any crypto’s broader use as money.
Is there Web 3.0 now? Can it gain ground in 2023?
December 23, 2022 03:32 PM AEDT| By Ankit SethiWeb 3.0 is generally believed to be an ecosystem of decentralised internet-based platforms where blockchain and blockchain-based tokens would rule.
Bitcoin and 2023: More restrictions or increased adoption?
December 22, 2022 04:08 PM AEDT| By Ankit SethiRegulators of many countries, including the US, are also contemplating how to regulate cryptoassets and have proper laws around them.
Does Santa Claus rally phenomenon exist in Bitcoin?
December 20, 2022 07:19 PM AEDT| By Ankit SethiEven though December 2020 was overall good for Bitcoin in terms of price growth, December 2021 was a mixed bag.
Is Ethereum better than Bitcoin?
December 19, 2022 03:55 PM AEDT| By Ankit SethiEthereum’s blockchain network has broader use than that of Bitcoin’s. However, the blockchain world is yet to completely mature, and hence there is no certainty which would be the top blockchain network in the long run.
How does Bitcoin make money?
December 15, 2022 04:55 PM AEDT| By Ankit SethiOne theory is that the Bitcoin project does not make money, but it allows node operators to charge fees for their computing work.
Why is Tether cryptocurrency so popular?
December 14, 2022 03:22 PM AEDT| By Ankit SethiTether is popular because its USDT stablecoin commands the highest 24-hour trading volume. But popularity does not automatically mean protection against any failure.
How safe is Bitcoin?
December 13, 2022 03:27 PM AEDT| By Ankit SethiThe biggest risk is the fear of a sudden ban by a regulator or sovereign authority on any or all Bitcoin-related activities.
Does Bitcoin work in Australia?
December 12, 2022 02:34 PM AEDT| By Ankit SethiThe Australian Taxation Office (ATO) has clear guidelines on how crypto assets, including Bitcoin, altcoins (alternative cryptos like Ether), and non-fungible tokens (NFTs), are treated for tax purposes.
Is Ether (ETH) cryptocurrency available in Australia?
December 09, 2022 07:18 PM AEDT| By Ankit SethiIt is not clear whether the eventual CBDC of Australia would be based on Ethereum’s blockchain or not, but any progress in this regard would be closely watched by ETH enthusiasts.
All you need to know about Jurassic Shiba cryptocurrency
December 07, 2022 07:23 PM AEDT| By James PrestonThe project is headed by Kenneth Wilson, who acts as CEO & CTO. Wilson also operates under the moniker “Mr. Fly”.
What is Ether (ETH) cryptocurrency used for?
December 07, 2022 03:07 PM AEDT| By Ankit SethiEther is used as ‘money’ within Ethereum, but it cannot be compared with legal tender like the US dollar.
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