Crypto volatility can create headaches for tax preparers trying to account for all the variables. But crypto owners can make their accountants’ lives a bit easier by following a handful of best practices, says Bitwave CEO Pat White.
At its best, crypto taxes are easier said than done, especially as the ecosystem and use cases evolve. Four years ago, decentralized finance was barely a thing. Now, seasoned DeFi traders are moving their assets from Layer 1 to Layer 2 protocols, liquid staking, yield farming, moving assets between different blockchains, and more. The DeFi ecosystem has about $68 billion in total value locked.
Those who are holding and dollar cost averaging as they add to their portfolios during periods of volatility aren’t free from ridicule or non-fungible token collectors—especially the latter. It is extremely difficult to price NFTs accurately.
Every single transaction has accounting and tax implications. Do you know how hard it is to track cost basis across...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...