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Author: misamaliraza94

  • How tax authorities classify crypto

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    misamaliraza94
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    Any tax you are liable for on the sale of your crypto will depend on how your tax authority regards cryptocurrency. Some of the main differentiators classify crytpo as: Foreign Currency Though Bitcoin, and many coins that have followed, function as currency, their speculative nature and source of competition with national currencies, means that very…

  • A guide to paying tax on crypto

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    misamaliraza94
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    What you’ll learn Different tax classifications of crypto Capital Gains vs Income Tax Taxable crypto events What you should do now Please note that this article is not tax advice. Consult a qualified tax accountant/professional or contact your local tax authority for clarification of how rules on crypto taxation  may apply to you. At times…

  • Doing your bit

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    misamaliraza94
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    Full nodes are essential to ensure Bitcoin does as Satoshi intended, functioning as a decentralised peer-to-peer cash system.  There are no direct financial rewards for running a node but it is a great way to improve your knowledge of how Bitcoin works. You may benefit as a business that accepts bitcoin, or as a trader…

  • Instruction for running a Bitcoin Node

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    misamaliraza94
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    By running a Bitcoin node you can actively participate in the crypto revolution helping shape an alternative monetary system. Before you start with the process, you need to know the risks and requirements associated with running a Bitcoin node. Let’s dive into that- 1. Secure Your Wallet When running a Bitcoin node, you can store…

  • Benefits of Running a Bitcoin Node

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    misamaliraza94
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    Running a full bitcoin node doesn’t have any coin rewards, however, it comes with its intangible benefits. They include: Direct Access to Transaction Data: Running a full bitcoin node increases the security of a transaction. If you carry out multiple BTC transactions a day, you can access updated information regarding your transactions directly from Bitcoin’s…

  • What is a Node?

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    misamaliraza94
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    In the context of the Bitcoin blockchain, a Node is a program supporting the key functions of Bitcoin – validating transactions and blocks that store transactions. Validated blocks are added to  blockchain, which continues to grow. So running a Node helps support and grow Bitcoin. Nodes act either as a communication endpoint or as a…

  • How to run a node

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    misamaliraza94
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    What you’ll learn What a node is & why they are important The difference between a full & light node The basic technical requirements are for running a node A high-level step-by-guide to enable for running a node Learn Crypto’s section on using cryptocurrency has so far covered the basics from the perspective of someone…

  • Smart Contracts to Control the System

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    misamaliraza94
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    MakerDAO is a self-governing protocol, and the native MKR token allows token holders to make changes to the Maker Protocol through a voting process which is written in a smart contract. These changes include: What should be the stability fee (or the annual borrowing rate)? How much collateral should back a CDP? To shut down…

  • How to Use and Interact with Smart Contracts Effectively

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    misamaliraza94
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    Smart contracts on Ethereum platforms represent and manage tokens. The MakerDao protocol, for example, is the backbone of the DeFi sector. The project is a big part of the DeFi ecosystem because out of $1 billion of locked ETH in the DeFi market, 60% of ETH is held in MakerDAO. DAI is the primary product…

  • What is a Smart Contract?

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    misamaliraza94
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    Smart Contracts are self-executing programs running on a blockchain network,  with the terms of the contracts between two parties – such as a seller and buyer – written into lines of code, rather than a formal, legal document.  The goal is to simplify business and trade between both identified and anonymous parties without needing an…