This article aims to show a brief definition of each cryptographic.
- Bitcoin (BTC)
- Binance Coin (BNB)
- Cardano (ADA)
- Tether (USDT)
- Polkadot (DOT)
- Litecoin (LTC)
- Bitcoin cash (BCH)
BITCOIN ($ BTC) had its origin as open source software (Open Source), presented by “Satoshi Nakamoto”, alias of a programmer or group of programmers whose motivation for its development was the economic crisis of 2008 – 2009, specifically the decision to print money for the rescue of banks after the credit and stock market crisis of the real estate bubble.
Bitcoin is known as the first cryptocurrency of the more than 2,000 that exist today, independent of any government authority (decentralization), its production is completely digital, subject to an issuance limited to 21 million Bitcoins .
Cryptocurrency is more than a trending investment vehicle. Since emerging, the crypto market has become a major market for investors seeking rapid appreciation. Those willing to deal with the volatility of a decentralized currency have found mammoth gains in the likes of Bitcoin and other such crypto assets. For many, however, crypto is still something of a mystery.
Crypto taxes are based on a 2014 IRS ruling that determined cryptocurrency should be treated as a capital asset (like stocks or bonds), rather than a currency (like dollars or euros). This decision has major ramifications for people who own crypto, as it opens them up to more complicated taxes.
Capital assets are taxed whenever they are sold at a profit. When you purchase goods or services with cryptocurrency, and the amount of crypto you spend has gained in value over what you paid for it, your spending incurs capital gains taxes.