Cryptocurrency Q&A

Federica Fri Mar 29 2024 | 7 answers 1334

Hello, I am interested in investing in cryptocurrencies and would like to know if there is any capital gains tax applicable to crypto assets in Australia. Could you please provide me with some information about the tax implications of crypto transactions in Australia? I would appreciate it if you could also explain how the tax is calculated and any specific rules or exceptions that may apply. Thank you for your assistance.

BlockchainBaron Fri Mar 29 2024 | 6 answers 1407

I'm quite confused about the legality of Poloniex in the UK. As a cryptocurrency exchange platform, Poloniex has attracted a large number of users in the UK, but I'm not sure if it's operating legally in this country. Could you please provide me with some clarification? Is Poloniex registered and licensed in the UK? Or is it subject to any specific regulations or restrictions? I would appreciate it if you could share some insights on this matter. Thank you very much!

lucas_clark_artist Fri Mar 29 2024 | 6 answers 1668

Excuse me, could you possibly elaborate on why you require a sum of $25,000 for day trading? I'm genuinely curious about the specifics of this matter. Given the volatile nature of the cryptocurrency market, wouldn't a smaller initial investment be more prudent? Or is there a particular strategy or technique that necessitates such a significant amount? I'd appreciate it if you could shed some light on this matter for me.

Federico Fri Mar 29 2024 | 7 answers 1518

I'm quite interested in the cryptocurrency market, and I'm particularly curious about the largest crypto exchange in Australia. Could you please provide me with some information about it? I'm wondering which exchange has the highest trading volume and the most users in Australia. Additionally, I'd like to know about the security measures and regulatory compliance of this exchange, as well as any unique features or services it offers. Thank you for your help!

KimonoGlory Fri Mar 29 2024 | 6 answers 1411

Could you please explain the 30-day rule for TFSA? I've heard it mentioned a few times, but I'm not quite sure what it means or how it applies to my investments. I understand that TFSA stands for Tax-Free Savings Account, but what's the significance of the 30-day rule? And what happens if I don't follow it? Is there a penalty or does it affect my ability to contribute to my TFSA in the future? Could you provide a real-world example or scenario to illustrate how this rule works? Thank you for your help!