The increase
in cryptocurrency ownership and value has also seen the amount stored in digital wallets at cryptocurrency exchanges grow significantly.
To get started with the basics of how the US tax authority
treats cryptocurrency ownership, how the capital gains tax works and how to calculate your crypto taxes in just three steps, plus other frequently asked tax questions, check out our guide to cryptocurrency taxes.
According to Bryce Boland, chief technology officer for FireEye in the Asia Pacific region, many victims are purchasing cryptocurrency to pay the criminals; but a rush in new entrants
into cryptocurrency ownership is also thanks to the surge in value of Bitcoin.
As one Redditor puts it, China is suffering from massive whale (people who have a lot of cryptocurrency) manipulation via fake news, exchanges have no official accounts or audits so all fiat payments of citizens end up directly in the pockets of the site owners, with mere numbers
simulating cryptocurrency ownership remaining on screen, exchanges change their fees at will, they add or remove trading pairs as they see fit to manipulate the market or stop withdrawals, etc..
To get started with the basics of how the US tax authority
treats cryptocurrency ownership, how the capital gains tax works and how to calculate your crypto taxes in just three steps, plus other frequently asked tax questions, check out our guide to cryptocurrency taxes.
A joint survey by Global Blockchain Business and Survey Monkey used the weighting scheme mentioned above in a research conducted in January 2018 and were able to produce statistics regarding
the cryptocurrency ownership and sentiments of the American Population with a + / - two percent margin of error.