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Best Bitcoin Dice

Best Bitcoin Dice Sites

Bitcoin Dice is one of the most popular crypto gambling games, and even though these games are fairly simple, they are one of the most customizable forms of betting you can play with cryptocurrency. This is because Bitcoin dice sites typically allow players to set their own odds, alter risk and reward, and also determine […]

Best Bitcoin Dice was originally found on Blokt – Privacy, Tech, Bitcoin, Blockchain & Cryptocurrency.

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Go straight to our expert’s top pick. For the best all-around Bitcoin dice experience, Primedice is our top pick.

An Introduction to Bitcoin Dice

Bitcoin Dice is one of the most popular crypto gambling games, and even though these games are fairly simple, they are one of the most customizable forms of betting you can play with cryptocurrency.

Best Bitcoin Dice Sites
Our expert’s picks of the best Bitcoin dice sites and games available this year.

This is because Bitcoin dice sites typically allow players to set their own odds, alter risk and reward, and also determine the level of the house edge. Naturally, the lower house edge will mean less reward, but many players like the opportunity to tailor their gambling experience and therefore win more regularly and consistently with dice games.

Because of its simplicity, many crypto gambling players have come to regard Bitcoin dice and other dice games as one of the purest forms of wagering, changing little in their long history.

Here, we’re going to explore some of the best Bitcoin dice websites in the world, and also highlight some of the best Bitcoin faucets available. But first, let’s look at what a Bitcoin dice faucet is, and discover some of the most popular strategies for winning at Bitcoin dice.

What is a Bitcoin Dice Faucet?

In this article, we’re going to be looking at ‘Bitcoin Dice Faucets,’ but what are they, and why do Bitcoin dice players love them so much?

Certain Bitcoin Dice websites will give players a tiny amount of BTC, like a faucet would leak a little water, to try out Bitcoin dice games without risking their funds. Some Bitcoin dice faucets offer substantially more Bitcoin than others, or they dispense at more regular intervals – so some players like to maximize their free BTC through Bitcoin dice faucets!

This free BTC or other cryptocurrencies can either be saved up or used to bet on Bitcoin dice games to try and gamble up your crypto holdings.

In the article below, we’re going to look at some of the best Bitcoin dice faucets so that you can make the most of your dice experience.

Which is the Best Bitcoin Dice Strategy?

We should start by saying that Bitcoin dice is a game of chance – ultimately, it’s a gambling game, and the house always has a slight edge. However, players can follow strict strategies to improve their odds of winning and increase their takings over time.

Here are a few of the most popular strategies:

  • The Paroli Strategy – A method that helps players maximize winning streaks and minimize losses, the Paroli strategy sees players determine a base stake amount, then double their bet after each win until they achieve three consecutive wins.
  • The Martingale Strategy – A tried and tested strategy from the 1700s; Martingale strategy players gradually increase the amount they bet when they are in a losing streak. The idea behind this strategy is that the increased bets will recover the losses incurred during the losing streak when the player wins.
  • The D’Alembert Strategy – This easy to remember strategy simply increases your bet amount by 1x after each consecutive roll.
  • The Inverse Martingale Strategy – As you might have guessed, this is the opposite of the regular Martingale strategy. Players increase their wagering size during a winning streak rather than a losing streak, which maximizes the takings from a successful win.

Our Picks – The Best Bitcoin Dice Sites

Now you’re armed with some knowledge of the best Bitcoin dice strategies, let’s dive in and review some of the best places to play Bitcoin dice! Check out the table below for a quick overview of the top sites or scroll down to see a detailed review of each.

Site Noteworthy Features Play
1 Primedice Great design, easy to use, feature-rich, strong history, large range of crypto supported.
2 Trustdice Great user interface, top crypto and Bitcoin faucet, good competitions.
3 DuckDice Great looking site, user-friendly, many features..
4 OneHash Easy to use, good faucet, provably fair.
5 BitDice Easy to use, provably fair.

1. Primedice

Primedice is one of the longest serving Bitcoin dice websites.

Established in 2013, Primedice is one of the most popular Bitcoin dice venues where users can stake their Bitcoin bets. Primedice is owned and operated by Slice Media, the same company as popular crypto casino Stake.com – one of our top 10 best Bitcoin casinos for 2020.

With provably fair dice games, one of the lowest house edges in the industry of just 1%, and instant bitcoin deposits and withdrawals, Primedice is an incredibly easy-to-use Bitcoin dice website.

Primedice is open to players in most jurisdictions, but they restrict players from the USA, Australia, and other countries where online gambling is illegal.

Primedice Bitcoin Dice

Visually, Primedice has one of the best Bitcoin dice interfaces of any provider, with no fluff or unnecessary options – it’s a simple and easy to use game set-up which does precisely as bitcoin dice players would expect.

There’s a simple slider bar to change the wagering requirements, which makes it incredibly easy to change the win chance from 98% all the way down to just 2%. There are also options to quickly wager either half or the entirety of your Bitcoin holdings, and there are more options for automated betting – where players can simply set up their rolls and watch it go.

If you choose to play with automated betting, you can set your wagers to stop once a certain amount of profit or loss is reached, so if you’ve got a set amount of Bitcoin to spend, this is an excellent option for placing your bets while you do something else.

Primedice’s Bitcoin dice is provably fair and verifiable, providing both client and server seeds for each game.

Primedice Bitcoin Faucet

Unfortunately, Primedice doesn’t offer a Bitcoin faucet anymore.

However, they do let players try-out dice games by placing zero bets, which allows users to experiment with different game methods.

Supported Cryptos

Primedice lets players gamble in the following cryptocurrencies:

  • Bitcoin (BTC)
  • Litecoin (LTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Bitcoin Cash (BCH)
  • DogeCoin (DOGE)
  • Tron (TRX)

Primedice Additional Features

Become a VIP Primedice member for huge rewards and prizes.

Primedice has some exciting extra features which have contributed to its popularity, including a VIP status for regular players that awards unlimited rake backs, gifts and rewards, and exclusive bonuses.

VIP status is obtained through Primedice’s loyalty progression, the final level of which is ‘Diamond’ status for the highest wagering players. For VIP players, Primedice claims there are ‘limitless’ opportunities for rake backs, which refunds players some of the money they’ve wagered so they can continue playing.

There are also challenges tailored to each player, which are unique based on the kinds of wagers you place and the frequency you play on Primedice.

We also liked Primedice’s chat feature, which is a live community chat where players can exchange tips, pass the time while their automated wagers run, and share their big wins!

Our Verdict

It’s straightforward to see why Primedice has become one of the most popular Bitcoin dice sites, as it’s one of the best designed, easiest to use, and most feature-rich sites in the world. It’s also achieved veteran status among the crypto community, becoming highly respected during its seven-year history.

We liked the broad range of cryptocurrencies that Primedice supports, which is excellent for those who wish to gamble using altcoins. However, compared to some of the other sites we’ll be reviewing below, Primedice doesn’t have a Bitcoin faucet feature, which is disappointing for those who like to receive free BTC to bet with periodically.

Overall, Primedice is provably fair and highly trusted Bitcoin dice operator, which has a proven track record of delivering a fantastic crypto gambling experience.

2. TrustDice

TrustDice.Win is a newer arrival to the Bitcoin Dice scene, with some great features.

Trustdice are primarily a Bitcoin dice provider, but they also have a range of traditional crypto casino games, like Blackjack, Baccarat, and Roulette.

Established in 2018, TrustDice is licensed in Curaçao, and run by Satoshi Gaming Group. The site has almost 200,000 players worldwide, with 62 million total bets placed and nearly $185,000 paid out in prizes.

TrustDice supports players from most jurisdictions but excludes those from the USA, France, and the Netherlands.

TrustDice.Win Bitcoin Dice

TrustDice has an enjoyable and easy to use interface, which lets players place a wager in seconds. Like other sites on our list, there’s a slider bar that players can use to change their bets quickly.

Players can see all the bets other users are placing on the game, as well as what they’ve won and what they rolled – which is great for keeping track of how often the Bitcoin dice is paying out.

There are also quick-press buttons for placing a minimum bet, max bet, or half of your total holdings. It’s not easy to find information on how provably fair the games are within the gaming interface. However, digging a little deeper does reveal that games on TrustDice are provably fair.

TrustDice.Win Bitcoin Faucet

TrustDice has one of the most generous faucets of any Bitcoin dice website.

TrustDice.Win uses the Coinbox faucet, which offers a vast range of free crypto to players, including Bitcoin, Ethereum, EOS, Tether, and other tokens. New players can claim from the Coinbox faucet every six hours, and for regular players, the faucet pays out more often.

All crypto claimed from TrustDice’s faucet can be immediately wagered on dice games with a minimum bet of just 10 Satoshi. As players can get 50 sats every six hours from TrustDice’s faucet, you can make 20 free wagers every day just from faucet crypto!

TrustDice.Win Supported Cryptos

TrustDice.Win lets players gamble in the following cryptocurrencies:

  • Bitcoin
  • Ethereum
  • EOS
  • Tether

TrustDice Additional Features

TrustDice.Win lets players access a range of other crypto casino games, but they also keep their dice players interested through contests and prizes.

For example, players can take part in TrustDice. Win’s weekly wagering contest, to be in with a chance of winning up to $3,000.

Our Verdict

TrustDice has one of the best user interfaces of any Bitcoin dice site, and it’s also got the best crypto and Bitcoin faucet hands down.

There’s a decent range of competitions, including level-up rewards and plenty of opportunities for rakebacks. Overall, TrustDice.Win is a great option for Bitcoin dice players who also want to explore betting with altcoins.

3. DuckDice

DuckDice is one of the best designed Bitcoin dice websites available.

A growing Bitcoin dice website, DuckDice.io is a well-designed site licensed in Curaçao. As a Crypto Gambling Foundation member, DuckDice provides provably fair dice games in a range of cryptocurrencies.

The site has implemented plenty of exciting features that have contributed to its popularity, and these have assisted in setting DuckDice apart from other Bitcoin dice operators in recent years. There’s a couple of different games on DuckDice, including their main Dice feature, and also some lottery games.

Signing up to DuckDice.io is one of the most effortless experiences in crypto gambling – you simply click ‘sign-up,’ and DuckDice generates a username for you. There’s no need to enter an email address, and you can get started straight away.

Users from the United States, the Netherlands, Russia, France, and Ukraine are not currently allowed to play on DuckDice.io.

DuckDice.io Bitcoin Dice

With a focus on design, DuckDice’s crypto dice games are well laid out and easy to play, with a fun ‘egg’ theme to show how much players have wagered.

There are auto modes if you’re the kind of player who likes to set up their games and watch them go, or a ‘Flashbet’ mode, which lets power-players place hundreds of bets per second.

Flashbet lets players set their wagering parameters and then executes hundreds of bets at the fastest speed possible. Once a Flashbet session is in play, there’s no way to stop it, unless one of your pre-set criteria is reached, or you run out of balance.

DuckDice’s Flashbet is an excellent way for regular players who like to wager a set amount per day to play, so if you’ve got limited time on your hands, check it out!

DuckDice.io Bitcoin Faucet

DuckDice has both a generous Bitcoin faucet feature and ‘rain’ events where cryptocurrency is distributed to certain players.

Their faucet feature allows players to collect free satoshis, which are immediately available to gamble on their dice games. It’s easy to collect BTC from DuckDice’s faucet – you either beat another player in a tic tac toe minigame or play three games in succession to win! However, the faucet feature is only available when you have no funds in your account.

Players can choose to make it ‘rain’ on other members of their chatroom by clicking the cloud icon at the top of the site. This will distribute small amounts of crypto to everyone in that room, so it pays to know some high-rollers on DuckDice!

DuckDice.io Supported Cryptos

DuckDice lets players gamble in the following cryptocurrencies:

  • Bitcoin
  • Litecoin
  • Dogecoin
  • Dash
  • Bitcoin Cash
  • Ethereum Classic
  • Ethereum
  • Bitcoin Gold
  • Zcash
  • Monero
  • Ripple
  • Tether

It’s incredibly easy to credit your account on DuckDice, only requiring a deposit address for your chosen asset.

DuckDice.io Additional Features

DuckDice’s Banking feature is a great way to minimize how much you spend.

In addition to their feature-rich dice games, DuckDice also has a currency exchange, a ‘bank’ feature, awards, and regular contests.

Users can transfer any supported crypto to any other cryptocurrency using DuckDice’s currency exchange feature, for instance, BTC to LTC, which takes just seconds and is great for quickly swapping the currency you’re betting with.

There are regular contests, such as daily wagering contests for dice players with prizes up to 0.01 BTC.

DuckDice’s bank feature is an exciting way to make sure you’re setting aside a portion of your winnings rather than leaving them all on the table. Players can deposit their crypto into DuckDice’s bank, which removes it from the available funds when placing a bet.

Our Verdict

A great-looking Bitcoin dice site, DuckDice is leading the way in terms of innovation and user-friendliness.

They are jam-packed with features that other Bitcoin dice sites don’t have, like banking features, huge bonuses, and crypto exchanges, which transform DuckDice into more than just a standard Bitcoin dice site.

Overall, we think DuckDice.io is one of the best choices for Bitcoin dice players regardless of skill level or wager amount.

4. OneHash

OneHash’s Bitcoin dice game is very easy to play.

OneHash is a Bitcoin dice, casino, slots, and sportsbook casino based in Curaçao. Its Bitcoin dice game is one of the most popular in the industry, and it’s also one of the easiest to use.

OneHash is open to all players that are legally allowed to gamble online in their jurisdiction.

OneHash Bitcoin Dice

OneHash’s Bitcoin dice is an easy to play game, with a well laid out interface and plenty of customization for your wagers. Like other Bitcoin dice games we’ve reviewed, there’s a simple slider to change the odds, and auto roll features to set up games.

Each game contains ‘seed settings,’ where players can view the SHA256 hash of the game’s server seed to verify that the game is provably fair. Users can also change the seed to one of their choosing if they want more control over their game.

Overall, OneHash’s Bitcoin dice has most of the same features as other sites, but its interface is a little cleaner and easier to navigate.

OneHash Bitcoin Faucet

Players will be pleased to find out that OneHash does have a Bitcoin faucet, which pays out 0.000001 BTC. The faucet button can be found in the top right corner of the Bitcoin dice gaming interface.

There’s no information as to how many times users can claim free Bitcoin from OneHash’s faucet, but it’s definitely available to new players.

OneHash Supported Cryptos

At the moment, OneHash only accepts Bitcoin deposits and payments.

There’s no information about any new cryptocurrencies coming to One hash.

OneHash Additional Features

OneHash has daily wagering contests to reward their top players.

OneHash has regular dice wagering contests, where the most frequent players are rewarded with cash prizes. Contests run every day from midnight, and the top 10 users all receive a reward. The top player takes home 0.015 BTC!

There’s 24/7 live chat support for customers, and users can suggest upcoming events to wager on, which the OneHash team will review and potentially let players bet on them.

Our Verdict

The Bitcoin dice game at OneHash offers everything crypto gamblers would need from a dice game, and it’s also simple and easy to use.

We liked how easy it was to see verification for the fairness of each roll on One hash, and likewise how quickly players can receive free Bitcoin through their faucet feature.

It’s not quite as feature-rich as TrustDice.Win or DuckDice.io, but it’s still going to be a great choice for most Bitcoin dice fans.

5. BitDice

BitDice has a simple and easy to use Bitcoin dice interface.

Established in 2014, BitDice is a long-running Bitcoin Dice website that’s remained popular among crypto enthusiasts for many years.

Licensed in Curaçao, BitDice offers other games for crypto gambling, too, including blackjack and slots. BitDice is best known for its exciting leveling system, generous rake backs, and it’s loyalty token.

BitDice Bitcoin Dice

A nice feature of BitDice is their’ session stats’, where players can quickly see their wins and losses, the amount in BTC they’ve won, and how much total BTC they’ve wagered in that session. You can also see who is placing the largest bets and who is getting the biggest winnings on the leader board.

BitDice also has a handy feature where players can see if a game is provably fair at the touch of a button. This is at the bottom of the dice interface, and clicking the button displays the secret hash and client seed of each game.

BitDice Bitcoin Faucet

BitDice does have a Bitcoin faucet, but it’s limited to BTC and only gives out small amounts. Its primary use is to let players try out games without first depositing crypto to the casino.

Although it’s not as generous as some of the other casinos we’ve reviewed here, it’s still a nice feature, and if you’re dedicated enough, your faucet rewards can build up over time.

BitDice Supported Cryptos

Bitdice supports the following cryptocurrencies:

  • Bitcoin
  • DogeCoin
  • Litecoin
  • Ethereum

BitDice Additional Features

BitDice has a massive range of levels that players can reach – all with unique bonuses.

There are substantial rake backs available for BitDice players, which you can earn by progressing through the levels – made by playing regularly on the site. Other bonuses for regular players include daily chests that contain huge bonuses and random bonus wins of either free spins or extra funds.

Every bet you make on BitDice will award a small amount of the casino’s loyalty token, ‘BitDice Tokens.’ These tokens can be converted to Bitcoin at the rate of 1,000 BitDice Tokens to 1 BTC. However, players can only spend this inside the BitDice casino, either by wagering or on raffles and competitions.

Our Verdict

Overall, BitDice is a decent site to play Bitcoin dice games, and it’s simple and easy to use, as well as being a very trustworthy site.

However, compared to some of the other sites we’ve reviewed, BitDice is a little dated looks-wise, and it’s Bitcoin faucet is also somewhat limited – essentially only functioning as a way to try out games without committing your funds.

Nevertheless, BitDice is a great Bitcoin dice site overall, and we think their easy-to-view secret hash and client seed for each game is a very important feature for those concerned with fairness.

Best Bitcoin Dice Faucets

With up to 20 free wagers per day, Trustdice’s faucet is definitely one of the best ways to claim free Bitcoin, and a range of other cryptocurrencies.

We were impressed with how many different types of crypto could be claimed through TrustDice.Win’s faucet, which is considerably more than any other Bitcoin dice site we’ve reviewed here.

Which Is The Best Bitcoin Dice Game?

Overall, we liked DuckDice’s gaming interface and range of features the most. Its Flashget system is perfect for those who play dice games regularly, as you can get all your daily bets done in an instant.

DuckDice’s banking feature is also a great way to limit how much you wager, so if you’ve had a decent winning streak you can easily take these winnings off the table without transferring them to an external wallet.

TrustDice is also a great choice, and its faucet for multiple cryptocurrencies is a perfect option for those who like to collect free Bitcoin. We recommend TrustDice for beginner players who don’t want to commit a high level of funds to a Bitcoin dice site and want to try out some new games with free crypto.

Nevertheless, for an all-round excellent Bitcoin dice experience, DuckDice is one of the best and most feature-rich Bitcoin dice sites!

Disclosure: Blokt strives to provide transparent, honest reviews, and opinions. The writer of this article is a user of the product(s) or service(s) mentioned in this article and was not influenced by the respective owners.

We rarely run ads, but sometimes earn a small commission when you purchase a product or service via a link on our site. Thank you kindly for your support.

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Source: https://blokt.com/guides/best-bitcoin-dice

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Grayscale eyes alts such as Cardano, Aave, Chainlink for new investment products

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Over the last few months, Grayscale Investments has become one of the most important participants in the cryptocurrency market. Now, in light of the growing competition in the field and the success of its existing products, the asset manager is eyeing new ones to bring to its clients.

To keep up with the expanding market, Grayscale Investments has announced that it is looking into at least 23 different digital assets for “potential new product offerings.” According to the same, the firm is looking at altcoins such as AAVE, BAT, Cardano [BAT], Chainlink [LINK], EOS, Cosmos [ATOM], MakerDAO [MKR], Polkadot [DOT], Tezos [XTZ], Synthetix [SNX], and Yearn.Finance [YFI], among others.

Here, it’s worth noting that the present development came a month after it was reported that Grayscale had filed to register new trusts for a set of digital assets (Including Cardano, Aave, and Polkadot) in the state of Delaware, USA.

The timing of the said announcement is interesting, especially since Grayscale’s consideration of new altcoins corresponds to the market-wide price rally coming to a halt. Bitcoin’s value fell under the $50k-level recently, with BTC trading at around $47,000, at press time.

Similarly, the market’s correlated alts were also witnessing a similar drawdown in value. And yet, much of the altcoin market has been showing strength, despite some sell-offs, due to which Grayscale has taken the step to consider turning some of the aforementioned assets into one of its investment products.

According to CEO Michael Sonnenshein,

“…as a firm that has been on the vanguard of connecting the legacy financial system with the new, digital currency-driven financial system, we view it as our responsibility to introduce investors to more diversity in this space.”

Meanwhile, with the value of BTC dropping in the spot market, the Grayscale BTC fund is seeing sell-offs too since many investors have chosen the way out. According to data, Grayscale Bitcoin trust dropped by 21% this week, a figure much higher than BTC’s 16% drop in the market. For GBTC, the once-massive premium has also fallen, suggesting that investors are choosing to exit the market since it has come to a halt. At the time of writing, the firm held over 655,750 BTC equivalent to $31 billion.

Such a shift in strategy can help Grayscale expand its hold on the altcoin market.


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Source: https://ambcrypto.com/grayscale-eyes-alts-such-as-cardano-aave-chainlink-for-new-investment-products

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Crypto can be lucrative, but make sure you’re ready for the taxman

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Hindsight is 20/20, but when money is on the line, being prepared can give investors better foresight. Just over a year and a half ago, Investopedia reported on the panic among many crypto investors who’d found themselves on the wrong side of the taxman. The article read, “Online forums like Reddit are abuzz with posts citing possible scenarios by worried investors about pending tax liabilities for their past dealings in cryptocoins, which may now leave them poorer.”

As Bitcoin’s (BTC) price soars and investors flock to crypto to cash in, legislators and regulators around the world are taking notice. Most recently, the Organisation for Economic Co-operation and Development announced a plan to release a ubiquitous tax standard for its member states, partly intended to curb base erosion and profit shifting. Although announcements like these serve as positive signs of intergovernmental collaboration, economic unity and progress, to the average investor, they feel rather distant. Yet it is crucial for investors in the United States to understand the digital asset tax regulations because, in some cases, it may mean the difference between prosperity and five years in prison with fines up to $250,000.

Related: Parents, it’s time for ‘the talk’: Did your kid trade crypto in 2020?

A handful of libertarian, crypto torchbearers might be inclined to believe that the built-in anonymity privileges of blockchain may save them from government scrutiny, but after all, the Internal Revenue Service isn’t quick to let go of these matters.

The U.S. tax code and crypto

Digital currencies and tokenized assets tend to be a mixed bag under the U.S. tax code. Many investors think of Bitcoin as a digital currency, like fiat currencies used regularly by consumers to buy goods. However, under the U.S. tax code, Bitcoin is actually considered “property” and is taxed under capital gains tax when either sold or used to purchase items or transferred for other digital currencies, such as trading Bitcoin for Ether (ETH). For example, purchasing a house with Bitcoin in the U.S. would trigger a taxable event on capital gains, and the exchange of Bitcoin for any other type of asset is considered a sale in the same way you might sell security like a stock.

Related: Crypto taxes, reporting and tax audits in 2021

It’s difficult to pinpoint why Bitcoin is classified differently from fiat currencies, but precedent in how Bitcoin is utilized by investors may tell us the answer. The IRS likely recognizes Bitcoin as a property asset because the popular crypto asset serves most users as an investment utility and not as a functional currency in the same way the fiat U.S. dollar does. More importantly, because these types of assets are not issued by a central bank, the U.S. government will not recognize them as such until further notice. Understanding crypto taxation also means digging into the little details.

Unlike centralized financial systems, decentralized systems require investors to take a far more active role in diligently tracking their investments from the moment of purchase to sale or exchange for commodities.

At the most basic level, the onus falls more on the investor to track the purchase date, purchase price and what was received in exchange for the Bitcoin in the case of a sale. In contrast, investment history in traditional, non-digital assets, such as stocks or commodities, is fairly easy to track because of the diligent records that brokerages maintain for clients and how readily accessible they are.

Crypto investments and taxation

Basics aside, there is one area in particular in which many accredited investors miss the mark.

Crypto hedge funds are reputed for offering lucrative crypto opportunities. While some crypto hedge funds are considered risky due to questions about crypto-market liquidity, they can be the better route to invest instead of buying individual units of Bitcoin. And as of late, they have proven themselves increasingly popular over the last year. According to Big Four audit firm PricewaterhouseCoopers, assets under management with crypto hedge funds rose from $1 billion in value in 2018 to over $2 billion in value in 2019. Despite piquing the interest of investors, buyers beware.

Compared to traditional assets, when onboarding investors for crypto assets, it’s a whole different ball game. Unlike traditional assets, it’s imperative that digital asset hedge funds ask deeper questions about tax considerations. Some questions regarding crypto investments should include: What kind of property is cryptocurrency x? or Can staking assets on proof-of-stake networks, which offer rewards for staking, be classified as unique income? These are just the basics, but questions like these can easily slip the mind when in the moment and can trigger unintended tax events.

On the other hand, when joining a hedge fund, it’s standard procedure to sign a standard legal entity fund structure, which is often as lengthy as 500 pages. Included are taxation clauses in the contract that explain the implications of investing with the fund. But with hundreds of pages of details, investors may not pay close attention to the little details, inadvertently putting them at serious risk of conflict with the IRS at a later juncture. That’s where a tax advisor should come in, who is accustomed to a more passive role.

Because of crypto’s unique properties, the tax advisor’s role has to become more active rather than passive, as it usually is. Rather than take a backseat, tax advisors should be summoned to provide consultation on investments before they’re undertaken and play a proactive role in educating investors every step of the way. As a result, investors would find themselves better prepared to provide a comprehensive and abiding tax return, rather than find themselves on the short end of the stick, playing catch up with the IRS.

When the taxman comes knocking, it’s better to be safe than sorry and know the regulations; otherwise, the consequences could be much graver. More importantly, the tax advisor must be in the passenger seat, not the back seat, when investors sign on the dotted line.

The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Derek Boirun is an entrepreneur with institutional experience in commercial real estate development, EB-5 capital investments and blockchain-based investing. Derek is the founder, CEO and director of Realio. He previously founded, and currently acts as a managing member of, the American Economic Growth Fund, an EB-5 investment platform focused on sourcing overseas capital for U.S.-based real estate projects.

Source: https://cointelegraph.com/news/crypto-can-be-lucrative-but-make-sure-you-re-ready-for-the-taxman

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Bitcoin’s market may have seen its strongest bull signal since fall below $50k

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At the time of writing, Bitcoin’s price was yet to fully recover from the massive depreciation that followed its ATH of $58,640. However, while BTC was valued at just under $48,000 at the time, it is worth noting that there have been significant Coinbase outflows since 25 February and these outflows seemed to be signaling an upcoming trend reversal.

Significant Coinbase outflows were observed when Bitcoin’s price was trading around $48,000 on the exchange. What does this entail? Well, this is evidence that U.S investors are still buying Bitcoin. Interestingly, the last time Coinbase outflows increased significantly, they were a precursor to Bitcoin’s price hitting its previous ATH above $52,000.

US investors are still buying Bitcoin, what about you?

Source: CryptoQuant

In the current macro environment, there are several factors that have led to a drop in Bitcoin’s price. The hike in inflows of Bitcoin to spot exchanges led to increased selling pressure and the dip, one that was triggered by miners. When GBTC’s premium dropped to register a negative figure, institutional demand was low, relatively lower than what it has been all along in the current market cycle.

Finally, 10-year U.S Treasury yields surged past 1.6% and this was alarming for risky asset classes, with Bitcoin still considered by many as one of the riskiest asset classes.

US investors are still buying Bitcoin, what about you?

Source: Woobull Charts

On the 25th of February, 13,000 BTC flowed out from Coinbase, with the BTC hitting multiple custody wallets on Coinbase and private wallets. This supports the notion that U.S institutional investors are still buying Bitcoin at the $48,000-price level. This is also one of the strongest bull signals since the dip from the ATH of $58,640.

In the short-term, institutional buying is expected to take the price above $48,000 on top exchanges, with the price of the crypto-asset likely to eventually cross $50,000.

However, it must be pointed out that there may be slow price movement in the short-term. Further, an interesting social metric that seemed to support the aforementioned conclusion was new Twitter followers of crypto-exchanges. Based on data from IntoTheBlock, the number is at par with what it was in 2017.

US investors are still buying Bitcoin, what about you?

Source: Twitter

Social metrics have often predicted changes in volatility and the price trends of Bitcoin and altcoins during previous legs of the current market cycle and previous bull runs as well. In light of the fact that U.S investors are still buying and more specifically, institutional investors are still buying, buying from both retail and institutional investors and demand is expected to push Bitcoin’s price above $50,000 in the short-term.


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Source: https://ambcrypto.com/bitcoins-market-may-have-seen-its-strongest-bull-signal-since-fall-below-50k

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