Cryptocurrency Q&A

Pietro Sat Mar 30 2024 | 6 answers 1323

Does Canada tax crypto?

Hello, I am a cryptocurrency investor living in Canada. I am wondering if the government of Canada taxes cryptocurrencies? I understand that cryptocurrencies are a new and evolving asset class, so I'm not sure how the tax laws apply to them. Could you please provide some clarity on this matter? I would appreciate it if you could also explain how the taxes are calculated and any specific rules or regulations that I should be aware of. Thank you for your time and assistance.

Giuseppe Sat Mar 30 2024 | 6 answers 1479

What is the 12 month rule for capital gains tax?

Could you please explain the 12-month rule for capital gains tax to me? I've heard about it but am not entirely sure how it works. Does it mean that if I hold onto an asset for 12 months or more before selling it, I'll be taxed differently? And what exactly are the tax implications of this rule? I'm trying to understand how it might affect my investment strategy and tax planning. Thank you for your help.

Paolo Sat Mar 30 2024 | 5 answers 977

What is the 1% rule for traders?

I'm a bit confused about the 1% rule for traders. Could you explain it to me? I've heard it mentioned a few times, but I'm not quite sure what it means or how it applies to trading cryptocurrencies or other assets. Is it a general rule that all traders should follow, or is it more specific to certain trading strategies or asset classes? Also, what are the benefits of adhering to this rule, and are there any potential downsides or risks associated with it? Thank you for your help in clarifying this for me.

Alessandro Sat Mar 30 2024 | 7 answers 1693

Is my cash safe in Binance?

I've been hearing a lot about Binance recently, and I'm considering using it to store my cash. But I'm a bit worried about the safety of my funds. After all, we've seen so many cases of exchanges being hacked and users losing their money. So, I want to know, is my cash really safe in Binance? What kind of security measures do they take to protect their users' funds? And how often do they update their security systems to ensure they're always up to date with the latest threats? I'd appreciate it if you could give me some insight into this matter. Thank you!