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  • Bitcoin Halving – What’s it All About?

    Bitcoin Halving – What’s it All About?

    Miners Incentive Cut in Half

    Bitcoin’s big event, one which occurs every four years, recently transpired on May 11th, 2020 at about 4:00 PM Eastern Time. Essentially, the reward for mining Bitcoin transactions is cut in half, which in turn, also cuts Bitcoin’s inflation rate in half and new Bitcoins entering into circulation is also reduced by half. Some call it “the halvening”.

    It was the third such halving since Bitcoin came into being and the first two occurred on November 28, 2012, and July 9, 2016. In 2009 there were 50 coins mined every 10 minutes but that number dropped to 25 in November of 2012 and then 12 ½ in July of 2016. As of this recent halvening (or halving, take your pick) miners now get only 6.25 coins but the electricity it takes to run this expensive mining equipment has already caused the plug to be pulled on many of the older machines. Ultimately, no more than 21 million Bitcoins can be in distribution which means the last mining date will occur sometime in 2140.

    These quadrennial occurrences will ultimately make it less and less appealing to mine Bitcoin as the reward will cease to justify the cost.

    Philip Salter, chief of mining operations at Genesis Mining stated the following, “Miners turning off after the halving caused a hashrate reduction, which causes blocks to be found less often than every 10 minutes. So, the block times rose to something like 12min instead of the usual 10min but the capacity for transactions in each block stayed the same.”

    There is an interesting and illuminating video by sportsbookreview.com that clearly illustrates how all of this works and the potential ramifications because of it. Prior to the halving, approximately 1800 coins were mined per day but that will plummet to 900 and could increase demand as the supply will have slowed down. Obviously, that would be good news for hodlers or those who have purchased Bitcoin as an investment strategy.

    A byproduct of the halving of Bitcoin has been the surge in the price of transaction fees. Now, the fact that miners get half of what they were getting a few weeks ago should have no bearing on these fees but perception is reality and according to Poolin’s vice-president Alejandro De La Torre, “Fees have nothing to do with mining. There is no correlation between transaction fees and mining difficulty. Fees increase or decrease primarily because of the fee market created in entering the limited space in a block. If there is a continuous amount of transactions in the Bitcoin network then the fees will remain high. The block space is limited, this creates a fee market. Miners naturally choose the tx’s with the highest fees as this will increase the amount of Bitcoin they make.”

    Many believe Bitcoin’s increased publicity, due to the halving, is the real reason why transaction fees have spiked and not the reduced reward for miners. Chun Wang, the co-founder of BTC mining pool F2Pool, commented on the recent uptick in transaction fees: “I feel it (the increased fee level) is more likely driven by the increasing interest in Bitcoin, not because the halved block reward or slower block generation.”

    Mark D’Aria, CEO of crypto consulting firm Bitpro, was not surprised by the increase in fees, “Even though fees are high relative to the weeks before the halving, they are nowhere near their peak in 2017 and sit at about the range of the mid-2019 rally or the early days of the 2017 bubble. In the short run, I expect fees to quickly normalize back to previous levels, and then continue the slow increase in average fees over the past few years. There is nothing intrinsic about the halving that will lead to persistently higher fees going forward. All other things being equal, fees would drop back to pre-halving levels once the average block time has normalized down to 10 minutes. But of course, this is a multivariate problem and all other things are never equal.”

    As far as the impact the halving has had on the price of Bitcoin we can see that as on May 11, 2020, the price of Bitcoin was roughly $8500 to where it sat nearly three weeks later at over $9500. Many pundits believe the prospects for Bitcoin are bright but others are not completely sold on the digital currency market as a whole. Yet as of this moment, Bitcoin is trending upwards in the post-halving environment and in the midst of a global pandemic. Tough times but Bitcoin is on the rise nonetheless.

  • Impact of lockdown on online casinos during Covid-19 in the UK [In Collaboration]

    Impact of lockdown on online casinos during Covid-19 in the UK [In Collaboration]

    GAMSTOP, a national online self-exclusion service has documented the impact of lockdown on consumers. On the other hand, the UK Gambling Commission has implemented tighter measures to heighten user protection. In fact, any online gambling operator that needs to be licensed within the UK jurisdiction has to be a member of this self-exclusion scheme. This will go a long way to helping users self-exclude themselves from UK-licensed gambling sites for a period of choice from six months to five years. Direct radio and television advertisement have now been replaced with ads containing gambling messages.

    Change in gambling patterns during the lockdown

    In light of the COVID-19 outbreak and consequent requirement from the government for people to stay at home, engagement of people in online gambling sites has increased steadily. As such, the UK gambling commission has advised all its licensed online gambling companies to set out protection measures and outline expectations regarding keeping users safe while safeguarding them from the negative effects of gambling. Consumers of gambling services are expected to understand that gambling sites feature inbuilt tools that help to set deposit limits. This assists the operator and player maintain spend at a manageable level.

    UK Gambling Commission observes gambling behaviour during lockdown

    The UK gambling regulator has quickly strengthened rules in the wake of COVID-19 pandemic. This has been attributed to the fear that unengaged minds are likely to turn on mass to the vice of online gambling. After the lockdown was announced by the UK Prime Minister Boris Johnson, the UKGC observed an increase in online poker, slots, virtual sports, and casino gaming. Although the current “climate” is unprecedented, the regulator has stepped up and insisted that online gambling operators have to play their part by ensuring that people stay safe.

    GAMSTOP continues to offer self-exclusion services during the lockdown

    With the lockdown effect in place, it has expressed fears of more consumers becoming vulnerable to risks associated with gambling. The chief executive of GAMSTOP, Fiona Palmer, highlighted that the scheme has continued to offer important support during this period. For anyone with Gambling issues, GAMSTOP provides a secure, free and simple solution to address these problems and create a breathing space. Once registered with the scheme, a consumer cannot prematurely withdraw from the scheme. This allows time to seek treatment from the NHS, charities or specialists to help them protect themselves more.

    This is only applicable on casinos using a UK-license, which means that non-uk casinos does not have Gamstop implemented. These casinos not connected to Gamstop have their license normally in Curacao and needs to be contacted manually to close your account.

    What is likely to cause gambling issues?

    It’s quite unclear what causes gambling problems. However, GambleAware, which is an independent government body offers information to help gamblers make informed betting decisions. GambleAware has established a relationship of gambling issues with family behaviours, winning experiences at an early age, and start of gambling at an early age. Health experts have established that gambling issues could be as a result of interaction between various biological, psychological, and social factors. Additionally, those affected by addiction in gambling-related issues tend to be addicts of drugs or alcohol. GambleAware emphasizes the use of GAMSTOP to avoid these menaces.

    How Gamstop is helping users to fight gambling-related issues during the lockdown

    GAMSTOP is a multi-operator self-exclusion scheme run by a non-profit organization, the National Online Self-Exclusion Scheme Limited (NOSES). The scheme excludes you from accessing all UK-licensed online gambling operators. This service provides users with the option of self-excluding themselves from online gambling for a period of once choice from six months, one year, or five years. There are also other self-exclusion schemes available, but they only exclude you from gaming products you’ve chosen as well as specific gambling sites. GambleAware comes in place to help people recognise and understand risks associated with excessive gambling.

    Conclusion

    Each other month brings post-apocalyptic situations. Just a few months ago, pondering the impact of a likely pandemic on various industries including the iGaming industry would have seemed absurd to most people. With people having ignored esoteric health studies, now here we are with the “real” menace. Experts have been searching for silver linings, hoping that something good could come out on the way of industry-handled COVID-19. A study was recently conducted by YouGov, which was commissioned by the UK gambling regulator. It generally established that more people had stopped gambling during the lockdown.


    The regulator has also observed an increase in session length for existing gambling customers. To ensure people remain safe, the UK Gambling Commission and GambleAware have come up with strict measures in a bid to protect players from negative effects of uncontrolled gambling. Having changed the terms of licensing, online gambling operators are now required to register with GAMSTOP scheme so that the service is available to their customers. Anyone with gambling issues can freely access confidential help and information through the National Gambling Treatment Service. Free up yourself today by self-excluding yourself from one place.

  • The Impact of Coronavirus Outbreak on Global Film Industry [In Collaboration]

    The Impact of Coronavirus Outbreak on Global Film Industry [In Collaboration]

    The catastrophic effect of the coronavirus outbreak has shaken the world in every way. More than 4 lakh people have died and over 7 million people have affected across the globe. Secondly, it has turned down the global economy and the world has entered a global recession. In addition, many people have lost their job due to the shutdown of many businesses. Now they are looking for income opportunities. 

    Further, the outbreak has not spared the global cinema industry too. The film industry has also hugely impacted by the pandemic. In this article, we will focus on the effect of the coronavirus outbreak in the film industry. We will also shed some light on the future of the cinema business. 

    Impact of COVID-19 on Cinema Business

    The entertainment industry is one of the largest businesses. However, the business has greatly affected by the COVID-19. As the government of almost every country announced lockdown to maintain social distance, nobody is allowed to move outside. 

    As a result, many media companies have to bear a huge loss. Here are some of the highlights of the impact of the pandemic in different film industries across the world. 

    Impact on the Chinese Film Industry

    The Chinese government has announced the closure of the production of cinemas. Due to which many film projects have been delayed. The film industry went down severely between February and March.

    As this is the peak time for the cinemas, the collection of the box office has dropped to $4 million from $1.8 billion. China is second in the world box office, generating 67% of the world box office revenue. So, this is a huge loss in the film industry, as the Chinese box office has been hard hit by the outbreak.

    Impact on South Korean Film Industry

    Cinema production has been closed in South Korea. As the number of audiences has significantly decreased due to lockdown many movies have been postponed. Additionally, film promotion and award shows have been delayed. The media companies in South Korea have reduced the physical presence of staff to stop the virus from spreading. 

    Impact on the Italian Film Industry

    As Italy has greatly affected by the dangerous coronavirus, every social gathering including film promotion, cinemas, and all social events have declared to shut down. The Italian government has taken great measures to close all social events to maintain social distancing and avoid any gatherings. 

    Impact on the US studio

    As US studio releases cinema all over the world, it has greatly affected by the pandemic. The production companies have postponed all of their film projects. This has brought a huge loss to the film production companies and studios. 

    Apart from that, every film industry in various countries has also gone down in this pandemic. The Japanese film industry postponed the release of the famous title Doraemon. Kuwait has also announced the complete shutdown of cinema halls, social events, and cinema productions since further notice. 

    The Indian film industry (Bollywood) has also shut down due to the pandemic until further notice by the government. All cinema halls and media companies were ordered by the government to close all of their operations until the situation gets better.  If you want more information on the crypto trading then follow bitcoinfortress.com.

    Impact on Other Entertainment Events

    Outside the film industry, the world-famous Disney parks have also been closed in Hong Kong and Shanghai. 

    Conclusion

    Now it is very uncertain to say about the future of the film industry. Undoubtedly, it will recover, but it is hard to predict when everything will be in order. There is a strong possibility that many media companies may set into default.  Every media company is waiting for the global threat to pass. 

  • Self-Exclusion from casino websites in the UK [In Collaboration]

    Self-Exclusion from casino websites in the UK [In Collaboration]

    It is not news that the thrill and excitement that comes with gambling can be so intoxicating that you can lose yourself. Without a doubt, you can find yourself spending more time gambling than doing anything else. In this case, once you have realized that gambling is becoming a big problem and you are always craving the thrills it offers, self-exclusion is the best way to go. As it stands, there are various ways and systems you can use to self-exclude. One of them is Gamstop, which was created to help players ban or restrict themselves from online gambling platforms.

    How to Self-Exclude

    As it stands, self-exclusion is quite easy at most online casinos around the world. In the UK, you can easily self-exclude because currently, the UK Gambling Commission has allowed online casinos to offer self-exclusion options to players. So, in most cases, you can simply go to your player’s dashboard to start the process to self-exclude. In addition to that, you can choose to use third-party platforms to restrict yourself from all online gambling sites. For instance, you can choose to download the Gamban app, which will give you the chance to easily block all gambling apps and sites on all your devices.

    UK Casino Self-Exclusion Options

    Currently, there are various options you can use to self-exclude from gambling platforms. Some of the self-exclusion options include doing so on at the casino, on third-party sites and systems such as Gamstop, Netnanny, Gamban, and the like. The most efficient is Gamstop, and this is because all licensed UK casinos are registered on Gamstop. As a result, if you choose to self-exclusion, you will not be able to access any licensed UK online casino. You can go on ahead to visit the Gamcheck site so that you can see the full list of online casinos licensed under the UK Gambling Commission.

    UK Casino Self-Exclusion – Comparing the Options

    When you choose to self-exclude and you decide to do so on the casino site, you might be required to provide a means of verification, which can be discouraging. In this case, during the process of self-exclusion, you can decide to change your mind because the process is not instant. For this reason, using third-party websites such as Netnanny to self-exclude may be the better option. However, if you use third-party sites, you will still have access to independent online casinos that are not recognized by the platform. Nonetheless, the best way to self-exclude completely is by combining the various options.

    UK Casino Self-Exclusion – What’s More

    In any case, if you have a friend or family member who is showing signs of gambling addiction, you can as well opt-in for exclusion on behalf of the person. You can use the third-party site option if you do not have access to the person’s online casino account. However, you need to note that when you restrict access through Gamstop, all casinos not on Gamstop can still be accessible. If the online casino is not listed on Gamstop, you can still also contact the casino support to find out how you go through with the self-exclusion process to help your addiction.

    UK Casino Self-Exclusion – Final thoughts

    Gambling, especially online, can be addictive and this is mainly because it is easy to wager on games. Nowadays, you can even play on the go thanks to the advancement in web and mobile technologies. For this reason, self-exclusion is very important and before you join any casino, you need to confirm they are ambassadors of responsible gambling. That way, you can easily opt-in for self-exclusion on the casino site. Notwithstanding, as we have already pointed out in the article, you can self-exclude using third-party self-exclusion apps and websites such as Gamban. But note that, casinos not on Gamban will still be accessible.

  • Do You Need to Pay Taxes on Crypto? [In Collaboration]

    Do You Need to Pay Taxes on Crypto? [In Collaboration]

    By now, you probably already know some of the biggest advantages surrounding crypto, which might be why you invested in it in the first place. But, like any other form of income, you do need to pay taxes on it. According to the IRS, there are two ways in which you’d have to pay. 

    Let’s say you buy Bitcoin and keep it for a year or longer. You’ll have to pay long-term capital gains on that Bitcoin when you decide to sell. These long-term capital gains will show up on your Schedule D and will be taxed at a certain percentage based on your income. 

    If you’ve held onto your Bitcoin for less than a year, you’ll have to pay if the realized value of the Bitcoin is greater than it was when you first acquired it. 

    Of course, the idea of paying taxes on crypto hasn’t come without its hiccups. In 2019, for example, Reddit exploded with confusion, frustration, and even anger over the idea of taxing cryptocurrency, with one user suggesting that the IRS’ was “going crypto fishing” and only had bad data to work with, which meant they didn’t know how much money people actually owed in crypto taxes. 

    While it can seem confusing (and even frustrating), it’s important to know how crypto taxes work and how they’re calculated, so you can be in the know about your Bitcoin. 

    How Are Crypto Taxes Calculated?

    An easy way to think about the taxation of cryptocurrency is to consider it a piece of property. That’s exactly the way the IRS looks at it. So, it’s taxed in a similar way to a stock. If you have any experience buying and trading in the stock market, you’ll probably be more familiar with crypto taxation. 

    Simply put, you will be taxed on any gains you make with your crypto between the time you acquire it and the time you choose to sell it or exchange it. Your taxes will be calculated on your gains or losses within a period of time. 

    As far as the rate, cryptocurrency taxation is based on which tax bracket you fall into. For example, if you’re in the 10-15% income bracket, your long-term capital gains tax rate would be 0%. If you’re in a higher bracket, you could be taxed at up to 20%. 

    So, what will you need to calculate your crypto taxes? 

    The most important thing is to have a record of your transaction history in order for you to track your tax lots. In addition to that history, you’ll need specific information from each sale, including: 

    • The date of sale
    • Fiat value at the time of sale
    • Date of acquisition
    • Fiat value when you acquired it
    • The amount of the token sold

    Obviously, keeping track of all of your exchanges in such detail, one by one, can start to get a bit overwhelming, especially if you tend to make a lot of transactions (hence, people’s frustration and outrage on platforms like Reddit). That’s where a program like CryptoTaxCalculator can help. 

    Tracking Your Taxes

    Though it may sound confusing, it’s so important to track your crypto taxes, and it doesn’t have to be as complicated as you think. 

    When working with a platform like CryptoTaxCalculator, you can do everything from uploading transactions to reviewing data all in one place. That allows for an easy generation of tax reports that are simple to understand even if you don’t have extensive experience with cryptocurrency. We’ll automatically categorize your transaction history to make it easy to know where your exchanges have taken place. 

    In the final report of your taxes, we will include a full breakdown of your transaction history that allows you to clearly see each capital gain event. Some of the information you can expect on your report includes: 

    • Cost of trade
    • Currency breakdown
    • Fees
    • Total gross and net gains
    • Long-term gains
    • Amount remaining

    Once you receive the report, you can download it in CSV form to make it easy to share with your accountant or to do your taxes on your own. 

    If you need more information or have any questions about how CryptoTaxCalculator works or how it can help you to keep your exchanges organized and your data well-documented for your accountant, feel free to contact us via the live chat feature on the app. Crypto taxes don’t have to be as complicated as they might seem. It starts with organization and tracking, and we pride ourselves on making that part easy for you with fast and secure reports, and support whenever you need it most. 

  • Crypto Asset Management – Can it be The Next Big Thing? [In Collaboration]

    Crypto Asset Management – Can it be The Next Big Thing? [In Collaboration]

    Internet has played an important role in revolutionizing communication. It was due to the internet that people all around the world were able to communicate among themselves smoothly. Apart from this major role, it was the internet that brings in the concept of online investment.

    Internet was able to break down the barrier that was between traders and international trades. And was able to bring all the traders on one platform. With the subsequent increase in the internet use, it was able to expose the common audiences to the trade market. This made normal people interested in the international trade market.

    Since then, online platforms have become very common for the traders. These online platforms have not only given the traders access to traditional assets, but it has also helped them to increase the asset classes.

    The best part of these online platforms is that they provide easy liquidity function from multiple exchange platforms. If you also want to enjoy online platforms with easy liquidity, then you can visit the crypto engine website.

    What is Crypto asset Management?

    Cryptocurrency trade is already flourishing in the world. There are nations that have accepted the use of Cryptocurrencies in their nation. Applications like robo-advisors and Nutmeg are among some of the most used online platforms for the Crypto trade market. Recently, the collective trade evaluation of the robo-advisors and the Nutmeg reached a milestone after completing $1 billion in Crypto trade.

    Cryptocurrencies are being used rigorously in the trade market. Hence, it has increased the demand for the tools for managing the Crypto assets. These Crypto asset management tools are getting quite popular due to its assistance with Crypto Asset Management.

    With over $400 billion markets, Cryptocurrency is sure a heaven place to invest your capital.

    How does Crypto Asset management work?

    The regulation of the cryptocurrency in the market has improved quite a lot. But it is still a complex process to buy a cryptocurrency. The Cryptocurrency trade market is attracting new traders every day. This has created a need for managing tools to manage the Cryptocurrency trade portfolios.

    Today, for the new traders, the first step of the trade is to find a Crypto wallet or e-wallet that can store the Cryptocurrencies they wish to trade. Then the next step is to find the best Crypto exchange route that allows Crypto exchanges of your Cryptocurrencies.

    Once the trader is in the market with its Cryptocurrencies holdings, they need to aware other traders about their intention to make Crypto exchanges.

    The companies have understood the importance of Crypto Asset Management tools. And have started working hard to prepare the most convenient tools for the traders. There are some companies that have come up with tools that can manage multiple wallets and accounts.

    Tools like these have made the traders work easier. They can now manage all their portfolios from a single platform.

    Sorting out Crypto Exchanges

    The value of the Cryptocurrency transaction can only be authenticated with the transactional information. Once the transactional information is lost, the transaction becomes invalid. When the Crypto asset management tools were introduced to the market, it was a laborious job to keep tabs on each and every transaction. But after the Crypto asset management tools have been introduced in the market, it has become easier to keep tabs on your cryptocurrency transactions. With the help of the Crypto asset Management Tools, you can easily sort out your transaction and data in one place.

    Conclusion

    Crypto asset management tools are like a boon to the traders. These tools are helping the Cryptocurrency to increase their credibility. It might happen that with improved tools, Cryptocurrency may come close to the mainstream fiat currency.

  • PrimeXBT Review: Easy To Use, Professional Trading Tools [Sponsored]

    PrimeXBT Review: Easy To Use, Professional Trading Tools [Sponsored]

    PrimeXBT is a trading platform suitable for professionals, as well as novice traders, developed with a foundation of experience in traditional markets, which are currently experiencing record-breaking volatility.

    Open Account on PrimeXBT

    Because of the platform’s roots deeply connected to the traditional market, although it got its start as a cryptocurrency exchange, it features a wide list of traditional assets, and the tools offered are more commonly found across traditional trading platforms.
    This makes PrimeXBT a unique proposition for traders, especially during the current economic environment. Let’s find out if the trading platform is worth signing up.

     

    What is PrimeXBT?

    PrimeXBT, the trading platform is registered and based in Seychelles but caters to all global traders. And with so many assets to choose from, including forex, commodities, stock indices, and cryptocurrencies, the platform attracts all types of traders from all types of markets also.

    The platform is safe, secure, and recently took home a number of Forex Awards and the ADVFN awards for Best Bitcoin Margin Trading Platform.
    However, the platform is far more than just Bitcoin margin trading. Here’s all that PrimeXBT offers.

    PrimeXBT Trading Tools

    High leverage is among the main features of the platform. Up to 1000x leverage can maximize profits generated on forex, gold, and silver.

    100x leverage maximum is supplied for crypto, commodities, and stock indices. Leverage lets traders gear their trades, turning tiny positions into large ones. 1000x turns the 0.001 BTC deposit into 1 BTC worth of trading power, for example. 

    Leveraged positions can be taken across long or short trades, depending on which direction the market is trending. Stop-loss protection orders and take profits further maximize profit potential while keeping risk at bay.

    The user interface is customizable via widgets and features multi-monitor support for professionals. Built-in charting software is also included with specialized trading studies available such as RSI, MACD, and more.

    PrimeXBT Assets

    The first assets the platform listed were cryptocurrencies Bitcoin, Ethereum, Litecoin, EOS, and Ripple trading against USD. Later, BTC trading pairs were added.

    Following that, PrimeXBT took its traditional market experience and brought CFDs for stock indices, commodities, and forex currencies to the platform, adding so much more value to the overall offering.

    Now, traders no longer need to log into multiple platforms to trade such a large variety of assets. Incredibly diverse portfolios are also now possible – an experience that is rare to find elsewhere.

     

    More than 25 major forex currency trading pairs are included. This includes FX pairs for AUD, CAD, CHF, JPY, NZD, USD, EUR, SGD, RUB, and TRY

    CFDs for stock indices include DOWJ, EUR50, FRANCE, GER30, SP500, SPAIN, NASDAQ, HK-HSI, AUS200, JAPAN, and UK100.

    Commodities offered include BRENT, CRUDE, and NAT.GAS. Gold and silver are also available.

    Registration, Deposits, Withdrawals, Fees, and Customer Support

    PrimeXBT doesn’t require any KYC process to keep your personal details private. When you sign up for an account, the only requirements are to confirm your email address and make a minimum deposit of 0.001 BTC in order to start. 

    Making a deposit is easy and secure. The platform generates a Bitcoin address for you to transfer BTC to. PrimeXBT also works with Changelly so that you can deposit in fiat currencies like EUR, USD, and even other cryptocurrencies. However, it all gets covered into BTC for trading, which is used for leverage collateral.

    Before you can withdraw Bitcoin, each BTC address must be added to a whitelist prior to making the withdrawal. When you are done setting up the whitelist, you can withdraw Bitcoin to any address that has been confirmed during the whitelist process, preventing the funds from being transferred to an accidental or unwanted address. 
    The platform also provides a 24/7 live customer support chat, a help center, and a company blog filled with useful information, updates, and guides.

    Referral Program

    PrimeXBT offers multiple referral programs.

    The four-level system gives 20% back in commissions of direct referrals, however, what makes the program unique is that any new users the original direct referral makes also generate a commission on the original referrer’s referrals, up to four levels of earnings.
    Direct referrals offer 20% commissions, while level 2, 3, and 4 earn 15%, 10%, and 5% respectively. Top earners have already made over 51 BTC according to the platform’s affiliate leaderboard. 
    Attractive CPA offers range from a 70% rev share, up to $1,250 per trader signed up.

    PrimeXBT Turbo

    Turbo is a new product offered by PrimeXBT. It offers profits of as much as 90% in just 30 seconds. These short-duration Bitcoin contracts range from 30 seconds, 1 minute, and 5 minutes.


    Incredible profits are possible in even just a day, however, a complete loss of capital is also possible. Be certain to practice using the free 1 BTC demo account before trying with your own capital at risk.

    Is PrimeXBT Safe?

    PrimeXBT has a solid reputation across the trading community, has partnered with many top traders for Q&As and other educational material, and has even won awards for the platform’s benefits.

    Highly regarded platforms that win awards are always the safest bets, making PrimeXBT among the safest platforms. Bank-grade security and a number of protections keep client funds secure.

    And with no KYC process, no personal data is never put at risk.

    Margin Trade on PrimeXBT

    Final Thoughts

    PrimeXBT has a feature for everyone and the largest variety of trading assets all on one platform. The advanced trading tools cater to professionals, while the easy to understand user interface is ideal for novices just getting started.
    With more ways to make money beyond just trading, PrimeXBT is among the fastest ways to become profitable.
    And with up to 1000x leverage across long and short positions on forex, commodities, stock indices, and cryptocurrencies there’s money to be made at nearly every turn. Register for PrimeXBT today – it takes less than 60 seconds and offers free demo accounts.

  • How COVID-19 is Affecting Tax Season [In Collaboration]

    How COVID-19 is Affecting Tax Season [In Collaboration]

    COVID-19 has caused a lot of important conversations and concerns over the past few months. Between government legislation, schools and universities closing, and workplaces changing procedures nearly every week, filing your taxes may be fairly low on your list of things to keep track of. However, as is the case with most industries having experienced rapid changes, so has important information in regards to filing your 2019 taxes.

    This guide will help you stay up-to-date on important ways that the COVID-19 virus has affected taxes, such as HSAs, IRAs, and deadlines. While there are a lot of important things to keep in mind during the global pandemic, your crypto taxes are something you don’t want to forget about.

    1. Federal Tax Deadline

    Arguably the most important update to remember is the federal tax deadline for individuals and those that are self-employed has been moved. Instead of the typical deadline of April 15, 2020, the IRS will allow for deferment without interest or penalty up to 90 more days. That means July 15, 2020 is the new deadline to submit your 2019 federal income taxes.

    According to the IRS, “Taxpayers do not need to file any additional forms or call the IRS to qualify for this automatic federal tax filing and payment relief.” That means no additional paperwork is required and no need to worry if you weren’t able to file in time for the original April deadline.

    While government officials have been considering other extensions for potential deadlines, July seems to be the one you need to know for now. As with all other topics during the pandemic, it is important to keep an eye out for any additional updates that may come as more information is gathered by officials.

    2. State Tax Deadlines

    Federal tax deadlines were not the only deadlines to be affected by COVID-19. Many state deadlines have been altered as well. State officials, of course, have reacted differently to the crisis in various states. So as you might expect, states’ individual tax policies often reflect those differences.

    The state of California announced its state deadline will be the same as the updated federal deadline and will also postpone taxes and fees for 2020 LLCs. New York is also in line with the federal deadline. The state of Hawaii has extended their state tax deadlines beyond the federal date to July 20, 2020. 

    To check how COVID-19 has affected your state’s tax policies you can refer to this list of state tax agencies. 

    3. What About My IRA?

    Overall, 2019 was not a bad investment year, however, if you didn’t get as much saved for retirement as you would have liked, there’s no need to worry! Along with the extension of the tax deadline comes the extension for 2019 IRA contributions. July 15, 2020 is also the date to remember for your contributions.

    To avoid confusion, it is recommended that you contact the brokerage firm handling your IRA to let them know any contributions you make are for the 2019 fiscal year. 

    If you aren’t sure what an IRA is or whether you have/want a traditional or Roth IRA, check out this article! Both are great options and despite the seemingly endless volatility on Wall Street, it is important to continue to think about retirement and what kind of investments will be best for you.

    4. Health Savings Account (HSA)

    HSAs have widely grown in popularity over the years and provide many Americans with the freedom of choosing how much they contribute each year towards future medical expenses. For many, an HSA is an excellent choice for a health insurance plan.

    COVID-19 has been a reminder to many that saving for medical expenses is becoming increasingly important. Typically the maximum annual contribution for an HSA is $3,500 for a single individual. If you have dependents, your contribution limit will be higher of course. If you have not reached your limit for 2019 contributions you may continue those contributions until the new tax deadline of July 15.

     5. Time to File!

    There is no doubt that the unprecedented nature of the COVID-19 crisis has caused unprecedented changes in almost every aspect of life. Now that you know how the virus has affected your taxes, it’s time to get them done. Make them as easy on yourself as possible. There’s no need to complicate your time more than you have to.

    Here are a few suggestions and resources to help you simplify your taxes:

    • FileThis helps keep track of your financial documents throughout the year.
    • MileIQ can track your miles if you are self-employed.
    • Mint.com can help you prepare to submit your investment portfolio.
    • If you’ve diversified into cryptocurrencies, try TaxBit to weed through new crypto tax law.

     

    Whatever you do, start sooner rather than later. You’ve got other things to think about other than your taxes.

  • The Five Most Common Uses for Cryptocurrencies [In Collaboration]

    The Five Most Common Uses for Cryptocurrencies [In Collaboration]

    Cryptocurrency is commonly used by many people for a number of different things. We will all have our own ways to use it, and the advantages that it brings when completing them. But what are the most common uses for cryptocurrency? 

    Here we take a look at five common ways in which people spend using their cryptocurrency. 

    #5 Low-Cost Money Transfers

    The business world feels a lot smaller, with people from all over the globe connecting with each other. Anyone involved in this will know that bank fees are high for international payments, especially when currency is being changed over. Cryptocurrency takes all of that away. 

    The fees when using crypto are tiny compared to the bank fees on international money transfers and if you are sending and receiving a lot of money then this will really add up over the course of a year. Using cryptocurrency completely eliminates that and saves you vital funds. 

    #4 Storing Your Wealth

    There will be stories from the business world you have heard about this. Traditional assets and accounts such as bank accounts can be frozen and investigated by authorities if they want to look into something further. 

    This can cause real problems to your business flow, but with cryptocurrency you can avoid this. No one can access your crypto wallet without the key that you have, if you want to keep funds safe then this is how to do it. Providing you keep an eye on the latest cryptocurrency price predictions, you can manage funds properly and keep them safe. 

    #3 Travel the World

    Travelling, whether it is for business or pleasure, can all be paid for by cryptocurrency and many people are jumping onto this bandwagon. From hiring cars to booking flights and hotels, there are many agents who will accept Bitcoin and other types of cryptocurrency from you as a payment method for these items. 

    This means no worrying about paying in other currencies, and if you already deal a lot in cryptocurrency, then you can simply use your earnings to pay for your next trip. 

    #2 Private Transactions

    Sometimes you may need to send a private transaction that you want to keep away from banks. This means no questions need to be answered and the best way to do that is to send the transaction using cryptocurrency. 

    If you do this, there is no bank involved in any part of the process, and the funds can be sent and received between the two parties without anyone asking any questions. For privacy and security this is sometimes needed, and it is great that cryptocurrency allows it. 

    #1 Gambling

    There are many industries that have supported cryptocurrency since inception, and the gambling industry is one of them. Many sports betting sites accept cryptocurrency from players, and we now even have gambling sites that only accept cryptocurrency as is grows further. 

    The relationship between gambling and crypto has always been very positive, it is simple and easy to use when betting and that makes it a great way to spend any crypto you have if you like to bet. From placing bets on the big sporting events to casino gaming and other forms of gambling, there are many ways to spend your crypto with a betting site.