If you believe it or not another year is coming to a closing. A wild year it has been. Regulations have started to show up on many exchanges, some coins died out while others have never been stronger! More than ever people want to get aboard the cryptocurrency train.

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Now is an important time to take a lookback, look forward, and review who you are currently conducting business with.

These are just some question to ponder to yourself about. Because these can contain sensitive information it is NOT ADVISED TO SHARE AN ANSWER. They are not an absolute or exact list of everything to take into account. Just some thoughts I had that I hope makes it easier when evaluating this year.

Lookback Period:

• Do you know the exact amount of all your cryptocurrency holdings and where they are located? Have you checked in with their current evaluation?

• Are you expected to pay any taxes for profits or losses during the year? If you are unsure and make a “decent” amount it might be a good time to talk to a local tax professional.

• What coins have done amazing in 2017 and what ones are massive sinkholes that you never want to deal with again?

• What things did you do very well in the cryptocurrency space in 2017, and what ones do you find yourself needing to invest time into doing better?

• Are you currently happy with your current wallet storage methods?

• How secure where your assets overall for the year?

Looking Forward

• Are there any ICO you plan on buying into for 2018.

• Are there any major players or influencers you plan on following more in 2018.

• What do you need to change that occurred in 2017 to make 2018 a great year in cryptocurrency for yourself?

• Will you need to be putting money aside for any major or minor cryptocurrency purchases?

• Are there any currencies you are expecting to hold strong into the future or any you plan on unloading soon?

• What changes do you need to make or research into for securing your cryptocurrency assets better in the coming year?

Re-Evaluating Exchanges You Do Business With:

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In case it’s not apparent this is your own personal reflection/ documentation and NOT a “leave answers to questions in comments below.” Many of these would be considered “sensitive” and therefore it’s not a bright idea to wilily give up this information in such a public place. If you do write things down for your own personal documentation make sure it’s secure.

• What Exchanges in 2017 have you done business with, and are there any new ones you plan on trying out in 2018?

• Do they or have they mentioned any plans for compliance with new or upcoming regulations? If so how will this affect you personally?

• How was their customer services?

• Where is the company incorporated and where is their headquarters located?

• Do they have any plans to change headquarters locations?

• Who is in charge of key positions within the company and have there been any major leadership changes? If so do you expect this to have any effect on you? (CEO, CFO, CSO, and so on.…)

• Has the exchanged announced any major currencies they are adding for the year 2018?

• Have they announced delisting any currency you currently hold or have plans to trade with?

• Have there been major or minor security breaches in 2017 that have negatively affected you as a customer?

• How do their fees match up compared to other exchanges?

• How has wallet maintained and transferring in and out of the exchange be? Have there been any major hold-ups that caused your money to be stuck for days or weeks on that exchange?

• Are transactions increasing in speed or did they slow down in 2017? If they slowed down is this the fault of the exchange or the limitations of that currencies blockchain?

• Have they done anything you find as unethical or immoral business practice? That makes you no longer wish to be a customer there?

• Do you need to move any large holdings off an exchange? Many currencies have increased exponentially over the year and you might find it unwise to hold such a large amount on an exchange.

Overall, will you still continue to do business with that exchange in 2018 or is it time to try others and move on? Now is a perfect time for you to personally take stock of what questions you can answer for, what ones you need to find more information about. Come up with a 2018 strategy that helps ensure you remain in control of your money and your ability to move it.

Make 2018 a great year by thinking about it and laying down some foundations to build on for later

Information

Written by @enjar all thoughts expressed are my own.

I am not a tax professional nor do I hold any licenses to practice tax. As such you should consult local tax professionals if the need arises.

I am not a personal financial adviser nor do I hold any licenses to practice. As such you should consult local professionals if the need arises.

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