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What are some of the opportunities and challenges associated with DeFi?
March 13, 2023 09:00 PM AEDT| By Manu ShankarHighlights • DeFi enables distributed access to financial services without any central intermediaries. • One of the core premises of DeFi is that unlike CeFi or centralized finance, there is no centralized authority to dictate or control operations...
Is Ethereum bears in control at the moment?
March 08, 2023 10:50 PM AEDT| By Manu ShankarHighlights,Ethereum, just like Bitcoin, took a tumble following the recent unsettling reports involving Silvergate Capital.,ETH has lost about -5.7% over the past 14 days, according to CoinGecko.,Ethereum on 8 March was trading at US $1,557.06 with a...
Are NFTs taxable in Australia?
January 16, 2023 06:03 PM AEDT| By Ankit SethiIn some countries, the tax implications of crypto assets is a hazy subject, but not in Australia. Assets, including NFTs, attract a CGT levy, and the ATO mandates proper record-keeping.
Can you withdraw cryptocurrency in Australia?
January 13, 2023 02:44 PM AEDT| By Ankit SethiCryptocurrency assets can be liquidated in Australia using intermediaries’ services like an exchange or an ATM provider.
Are NFTs available in Australia?
January 12, 2023 01:42 PM AEDT| By Ankit SethiNFT assets are available in Australia, but there is a possibility that a particular asset like CryptoPunks might not be listed on all exchanges.
Who invented Bitcoin and why?
January 11, 2023 04:55 PM AEDT| By Ankit SethiInvented by Satoshi Nakamoto, the purpose of Bitcoin was to be developed as an ‘electronic cash system’
Is Dogecoin available in Australia?
January 10, 2023 06:22 PM AEDT| By Ankit SethiDogecoin, considered the world’s first joke or meme crypto, is available in Australia.
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.