Like other investments taxed by the IRS, your gain or loss may be short-term or long-term, depending on how long you held the cryptocurrency before selling or exchanging it. Launched in early 2009 by an anonymous creator who goes by the pseudonym of Satoshi Nakamoto, Bitcoin is the largest cryptocurrency measured by market capitalisation. Only approximately 21 million bitcoins will ever be created, which explains its scarcity and high price.
It grew from almost $0 at the beginning of 2017 and reached $2.4 in December 2017 — as you can see in the following chart. The price of Bitcoin changes a lot every day, and has seen many highs and lows over the last few years. Take a look at the following chart and you will see just how much the price changes. The following chart from CoinMarketCap shows the growth of cryptocurrencies over the years. But first, let’s talk you through the recent growth of cryptocurrencies. Harsh has experience of 12+ years in Fintech and 7+ years in Blockchain and Bitcoin.… Read More View More Consumer Protection in the World of Cryptocurrency Regulation