BGROD

Know What You Are Getting Into

When it comes to cryptocurrency, the media has a tendency to hype up the market. This might cause consumers to make hasty judgments when it comes to investments. It’s critical not to get caught up in the buzz of things.

Koinly Review – Best Crypto Tax Software?

Koinly is an online crypto tax platform that keeps tabs on all your cryptocurrency transactions and helps you create tax returns that conform with applicable regulations. Generally, it streamlines the process of tracking your cryptocurrency transactions, such as buying, selling, mining, staking, lending, and receiving airdrops, allowing you to connect all your wallets in one place.

 

Keep reading this article for an overview of Koinly and its pricing.

How does Koinly Work?

Bring in your financial data first. Koinly supports the import of API keys from a user’s wallet. You may also import a CSV file from a wallet or an exchange into Koinly.

 

Koinly facilitates instant cryptocurrency trading and more. It computes numbers from mining, staking, margin trading, lending, and borrowing operations. Basically, it’s like a crypto tax Swiss army knife. All imported calculations must then be checked. No-cost synopsis. Keep tabs on your bitcoin holdings everywhere you may be using this handy tracking tool.

 

After purchasing one of Koinly’s tax report packages, you may export the reports to Excel and then file your taxes manually or with TurboTax. Koinly creates Schedule D of Form 8949. Additionally, Koinly can make tax forms for the US Internal Revenue Service (IRS).

Here’s a good Koinly review video about Koinly tax software

 

Pricing

Koinly’s crypto tax software prices vary depending on your version.

Free

There is no fee to use Koinly’s Free tier. The free version of Koinly offers all the features of the paid version except for the ability to generate tax reports. 

 

Your entire cryptocurrency holdings (up to 10,000 transactions) may be imported from exchanges and wallets. However, only a portion of your capital gains can be seen on the app. You can do your tax calculations with Koinly for free, but you’ll need to buy software to complete and submit them.

New Members May Join for Just $49 Per Year

Using Koinly for a year will set you back $49. The Newbie version of this program has in-app tax filing capabilities. Koinly’s free edition only allows you to keep track of up to 100 crypto transactions. 

 

The tax cost analysis and custom file imports for your cryptocurrency holdings are only available in the paid edition of the app. If you only make a handful of deals per year and prefer to have your taxes filed mechanically, this is the best option.

Price: $99 (Hodler) / $179 (Trader)

Koinly has two paid tiers: Hodler and Trader. Hodler has the same capabilities as Newbie, except that instead of 100, you may import 1,000 crypto transactions. The annual fee for Hodler is $99. Tracking trades is unlimited, as is the email help provided to traders. If you trade cryptocurrencies frequently, it may be worth the $179 per year to upgrade to Koinly’s Trader version.

Is Koinly legit?

Koinly is a legitimate company, but even if that weren’t the case, you wouldn’t have to worry about your money being stolen due to hacking assaults since you utilized Koinly. 

 

Generally, Koinly uses your API credentials to access your Exchange account data, but it cannot execute trades or withdraw funds on your behalf. Consequently, a hacker who intends to corrupt the Koinly platform does not have access to the same option.

We hope you enjoyed our Koinly review. You might also like BullionByPost review.…

What Is Blockchain Technology, And Why Is It Important To Understand Before Investing In Crypto?

When it comes to cryptocurrency, blockchain technology is the underlying infrastructure that allows for the secure transfer of digital assets. A blockchain is a decentralized, distributed ledger that records transactions in a secure and immutable way. The information on a blockchain is stored on a network of computers rather than in a central database. This makes it more resistant to hacks and fraud. Understanding how blockchain technology works is important for any investor, as it is the foundation upon which cryptocurrency is built.

Recording transactions and tracking assets on a blockchain are done through the use of digital signatures and cryptographic hashing. This makes it possible to verify the authenticity of a transaction and ensure that it has not been tampered with. Each block in a blockchain contains a hash of the previous block, as well as a timestamp. This creates a chain of blocks, or a blockchain, that can be used to track assets and transactions.

An asset can be tangible, like gold or land, or intangible, like a stock or a cryptocurrency. Blockchain technology can be used to track any type of asset. When it comes to cryptocurrency, blockchainis used to track the ownership and transfer of digital assets. Each transaction is recorded on the blockchain, and each block is verified by the network of computers that make up the blockchain.

Blocks & Miners

The Bitcoin network is made up of nodes, which are computers that store a copy of the blockchain. These nodes work together to verify and validate transactions. When a new transaction is broadcasted to the network, it is collected into a block by miners. Miners are computers that compete to solve a cryptographic puzzle in order to add the next block to the blockchain. The first miner to solve the puzzle is rewarded with a newly minted Bitcoin.

Mining is how new Bitcoin is created. It is also how transactions are verified and added to the blockchain. Miners are like the accountants of the Bitcoin network, making sure that all the transactions are valid and that no one is double-spending their Bitcoin.

Nodes & Full Nodes

A node is a computer that stores a copy of the blockchain and helps to keep the Bitcoin network secure. Nodes help to verify transactions and prevent fraud. There are two types of nodes, full nodes and lightweight nodes.

Full nodes store the entire blockchain and validate all transactions. They enforce all the rules of the Bitcoin protocol. Full nodes also help to keep the network secure by rejecting invalid blocks from miners. In order for a block to be added to the blockchain, it must be valid according to the rules of the Bitcoin protocol. If a block is invalid, it is rejected by full nodes and is not added to the blockchain

Lightweight nodes do not store the entire blockchain. They only store the headers of blocks and a small amount of data about each transaction. Lightweight nodes cannot validate transactions on their own and must rely on full nodes to do so.

Why Is Blockchain Technology Important?

Blockchain technology is important because it is the foundation upon which cryptocurrency is built. It allows for the secure transfer of digital assets and provides a way to track ownership and verify transactions. Understanding how blockchain works are essential for any investor interested in cryptocurrency.

If you enjoyed this article you might also like our Koinly Review.…

BullionByPost Review 2022 – Is It A Good Gold Service?

BullionByPost.com, headquartered in the heart of Birmingham, is a bullion dealer in the United Kingdom. They are a subsidiary of Jewellery Quarter Bullion Limited, the largest bullion trader in the UK. 

 

The goal behind the creation of BullionByPost was to provide UK investors with an easy and safe option to purchase bullion at competitive rates. Their offerings are now available in the United States as well.

 

There are approximately 3000 items available on BullionByPost.com. These include gold and silver bars and coins, platinum and palladium, and other precious metals. In addition, they are pleased with the wealth of resources provided on their website for novice and seasoned investors.

 

If you’re debating whether or not to do business with BullionByPost, you’ll find a thorough evaluation of the company here. Continue reading if you’re curious.

BullionByPost Overview

All of the company’s procedures are straightforward. Creating an account is the first step; it takes around five minutes of the customer’s time. After clicking the link, it will redirect users to the manufacturer’s website, where they may make their metal preference selection.

 

In addition, the buyer can select from several metals and pay simply the going market rate for any of them. Metal purchasers can have their purchases delivered or keep them in storage at the company’s facilities.

 

BullionByPost operates very seriously and especially in the business. Consider the company’s history, the punctuality of their deliveries, and the value of their customers’ comments. Some recent online reviews have criticized the company’s customer service. However, this is an easily solvable issue that may be attributable to the current surge in gold demand.

 

BullionByPost Price

The BullionByPost platform facilitates the delivery of precious metals to clients’ doorsteps. Shipping costs are determined by factors such as the customer site and the total weight of their item.

 

BWP is available to all customers as a hassle-free delivery method for purchasing precious metals. To purchase bullion, you must interact directly with a trader. To draw in new customers, several shops now provide free delivery.

 

Several options exist for reducing the cost of buying bullion. Users may also try to get the lowest feasible price by doing some research. Potential buyers may shop at several bullion dealers to find the best bargain.

BullionByPost Product and Services

BullionByPost is an online retailer that offers a wide selection of coins, bars, and other desirable precious metals such as platinum and palladium. Every pricing is reasonable, and they even offer an assurance that theirs is the lowest available.

Gold

With BullionByPost, buyers have a wide variety of options for purchasing gold in the form of bars and coins. You may buy gold bars in increments of one gram up to one kilogram.

 

The most popular size of gold bar is the one-ounce bar. Gold coins may be found in denominations ranging from 1/10 to 1 ounce. Additionally, quantities as little as 1/20 ounce and as large as 10 ounces are available for purchase.

Silver

Silver is a highly valued metal used for a long time in industries as diverse as finance and the arts. In fact, silver continues to be prized for its beauty and practical worth in the modern world.

 

Silver purchased from BullionByPost’s online store is not subject to VAT, and many of the company’s coin offerings qualify for SIPPs.  Those wishing to buy 999 pure silver have the greatest interest in the silver coin.

Palladium and Platinum

Two of the rarest metals on Earth are palladium and platinum. These two items are also popular buys for BullionByPost customers. Products range from exchange-traded funds (ETFs) and shares in mining companies to physical palladium and platinum bars.

 

They will assist you in choosing the most suitable item for your inventory, regardless of your level of market knowledge. These are two metals that have been used for a very long period. In addition, palladium and platinum are commonly utilized in high-end accessories like jewelry and timepieces. These metals are excellent long-term investments because of their scarcity and high market value.

 

BullionByPost’s Pros and Cons 

Customers of BullionByPost don’t have to visit a bank or exchange to invest in precious metals, making the process more convenient than before. However, there are certain risks involved with it as well.

Pros

The BullionByPost service is widely used by those interested in purchasing precious metals. Understanding their advantages can help consumers make the most of them.

 

  • Consistent pricing
  • Account creation is easy and quick
  • Quick delivery with home pickup
  • Britain and Europe are reliable
  • Simpler website navigation
  • Solid support system
  • Repurchase
  • Simple payment

Cons

Even though it offers services with substantial development opportunities, it does not have all of the essential information, which has led to a few strict regulations.

 

  • Few things are offered
  • Online evaluations indicate various client complaints
  • Customer service is lacking
  • No IRA services are offered+

 

We hope you enjoyed our BullionByPost review. Check out our Koinly review next!…

Important Investment Rules You Should Know Before Investing In Cryptocurrency

Cryptocurrency has been widely accepted for the previous several years. Cryptocurrencies are digital assets, payment systems, and legal tender in a few isolated cases. They are ever-changing, with new applications being created on a regular basis. What are the important cryptocurrency investment rules that you should know before investing? Below are a few key points to keep in mind.

Not Getting Caught Up In The Hype.

When it comes to cryptocurrency, the media loves to hype up the market. This can create a lot of FOMO (fear of missing out) and cause people to make irrational decisions when investing. It’s important to do your own research and not get caught up in the hype.

Diversification

When investing in cryptocurrency, it’s important to diversify your portfolio. This means investing in a variety of different coins and not putting all your eggs in one basket. By diversifying, you reduce the risk of losing everything if one coin goes down in value.

Have A Long-Term Strategy

Cryptocurrency is a volatile market. Prices can go up and down very quickly. It’s important to have a long-term strategy and not get caught up in the short-term volatility.

Be Patient

Rome wasn’t built in a day, and neither is a successful cryptocurrency portfolio. It takes time to see results. Be patient, and don’t give up if you don’t see immediate results.

Learn About The Different Currencies

There are hundreds of different cryptocurrencies out there. It’s important to learn about the different coins before investing. Not all coins are created equal, and some are riskier than others.

Get A Feel For The Industry

When it comes to cryptocurrency, the industry is still in its infancy. Things are constantly changing and evolving. It’s important to keep up with the latest news and trends in the industry to have a successful investment strategy.

Read Cryptocurrency White Papers

When researching different coins, it’s important to read the white paper. The white paper is a document that outlines the coin’s objectives, how it works, and the team behind it. This is a great way to get an in-depth look at a coin and see if it’s something you want to invest in.

These are just a few of the important investment rules to keep in mind when investing in cryptocurrency.