5 Crypto Investing Lessons I've Learned in 2019
Another year, another set of lessons learned.
In this video, I'll be sharing the lessons I've learned about cryptocurrency investing in 2019.
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Finland did a number on crypto-investors by first not taxing crypto-crypto trades at all and then declaring that all of them would be taxable after May 29 2018, which announcement came out on July 2 2018. When the new rule was announced, I stopped doing crypto-crypto trades completely for sake of my sanity. What I'm probably going to do come next bull market top is probably use the rule that if you have held a crypto for over a year or something (going to have to check the details), you can assume you purchased your asset at 40% of your selling price and pay capital gains tax based on that. In fact, I would've preferred crypto-crypto trades to have been taxable because I would've abstained from them from the start, which would've left me with a bigger portfolio than now. Trading is a negative sum game because of all the fees and taxes. Only a tiny percentage of pro traders can hope to make profit by trading.
Ouch - I'm sorry to hear that!
Fortunately, I don't hold any coins I could justify calling shitcoins (some projects are not doing great but my positions in those tend to be small) so holding them until I'm ready to cash out seems tolerable.
By the way something's up with Steem. It's now 77th on coinmarketcap.com. It's been going up quicker than the rest in the last couple of days.
Here's the chart for this year:
That looks like a rounding bottom - or at least the left side of one.
I really hope so. In terms of market cap VS actual adoption, Steem has to be the most undervalued of the alts IMO. But dang, 77th!? I didn't know it had fallen that much. Crazy.
It was close to 90th or something at worst.
I think the placement isn't as bad news as it sounds because new projects keep cropping up all the time.
Hi @louisthomas ,We have all learned from this crypto world, either because we want to learn or because we must learn.
My wish is that in your home there is happiness in these coming Christmas days, and many blessings in your home :)
Thank you so much Martha! I wish you a merry Christmas and happy new year too!
From this, I learnt that I need to learn technical analysis and to take profits.
Merry Christmas and a Happy New Year.