Learning about the ins and outs of the cryptocurrency industry can be daunting. The industry is new, and its processes are still growing and changing. Checkpoint, along with the crypto experts at Ledgible, have put together some basic terms and tax issues to help your clients navigate this new world. Checkpoint Federal Tax Update subscribers can download a PDF of this Cryptocurrency Primer at this link.
Basic Crypto Terms
Bitcoin
A digital currency created for use in peer-to-peer online transactions. One of the largest
cryptocurrencies in the market, Bitcoin can be used as an alternative payment method,
accepted by several major companies such as Microsoft, Whole Foods, and Home Depot.
Blockchain
A digital database containing information (such as records of financial transactions) that can be simultaneously used and shared within a large decentralized, publicly accessible
network. The sequence of the blocks periodically grouped together in a block of recent
transactions in the...
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...