Blog.
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Complete Guide to Crypto Taxes for 2023
How to determine crypto gains or losses Whether you have a gain or loss on the disposal of a digital asset depends on the value of the asset at the time of disposal measured against the cost basis of that asset. In late 2019, the IRS issued guidance on acceptable cost-basis methods for calculating gains and losses on cryptocurrency. The IRS guidance specifically allows for only two cost-basis assignment methods: First in First Out (FIFO)…
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Best Crypto Tax Software For 2023
Why Do We Need Crypto Tax Software? Best Crypto Tax Software September 2023 We spent hours analyzing various crypto tax software. We then rated our experience with each of them. The table below summarizes our overall experience calculating our taxes on crypto with each tool. Below the table, we walk through our methodology and how we went about testing each of these crypto tax tools. SoftwarePlan & CostOverall ExperienceAccuracyAutomationUser ExperienceAwakenCoinTrackerCrypto Tax CalculatorCoinLedgerKoinlyAccointingTokenTax Methodology: Comparing Crypto…
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Introduction to smart contracts
What is a smart contract? A “smart contract” is simply a program that runs on the Ethereum blockchain. It’s a collection of code (its functions) and data (its state) that resides at a specific address on the Ethereum blockchain. Smart contracts are a type of Ethereum account. This means they have a balance and can be the target of transactions. However they’re not controlled by a user, instead they are deployed to the network and…
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8 Best Crypto Wallets of September 2023
Why you should trust us: Reviews at Money are based on our collective knowledge of personal finance and company data, chiefly from primary sources. To create these reviews, we conducted an analysis of 25 hardware, software and web crypto wallets that took into account 20 distinct criteria, some of which varied based on the type of wallet. We spent around 72 hours researching and comparing crypto wallets, reaching out to experts and writing a guide…
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Cryptocurrency Investing Tips
53 Simple Tips that Will Help You Trade Bitcoin (and Other CryptoCurrencies) Without Making Rookie Mistakes Here are some basic tips and tricks for investing in and trading Bitcoin (and other cryptos). We cover how to avoid fees, what orders to use, and more. TIP: The tips and tricks below shouldn’t be mistaken for professional investment advice; instead this is basic friendly advice to mull over. If you want professional investment advice, consult a fiduciary.…