Even though crypto is relatively new to us, beyond the horizon, in the European and US part, it has seen many moons.
While we are still struggling to make a living out of it many crypto gods on American soil are preparing themselves to pay million in taxes.
Yes, the US is imposing taxes on the crypto similar to the mainstream fiscal matters.
Some weeks ago, at the voice meeting in the BD community, I came to know about the news. It was surprising to me, still, gave me a clear perception of how crypto is advancing despite odds.
However, I forgot the taxation issue completely only to be reminded again while attending the last day's voice meeting.
And honestly speaking, I regret not being present in the meetings although, after all the routine work throughout the week, I consider Friday as an ideal time for relaxation.
Fortunately, the time has changed.
Now I enjoy your day off on Sunday and like other days, Friday is a routine workday for me and I have designated the weekly voice meeting days as a must-join event.
And in just 3 weeks it paid off. Even though there were no opportunities to speak before the users, listening always helps.
So, I was talking about the taxation on crypto. But, for now, forget it.
Let's see the trading behavior of the US people (it's not a research post, just some stray thoughts). How they are making profits from the currency apart from multiplying it on the fluctuations.
Man, something huge is going on! You got to trust that.
They are not only using the balance for powering up and Binance trading. Instead, they have taken it to a new level— offline, to be specific.
In some cases, it has been designated as a successful alternative to the cash of the mainstream banking system. And to make it double, many are investing in real estate—which is quite lucrative. Independently, real estate is the first choice for wannabe millionaires. And involving it with the trend of crypto is making it more sensuous.
For example, in Miami, a penthouse has been sold using the crypto — costing around $22.5 million. It was back in June. The same property was listed again and sold for $28 million. Here, the benefits were made in two ways.
First, the payment was made in Bitcoin. So, an initial fluctuation made a fortune for the dealers. It's not certain if that was a fortune of the lifetime, still, something ought to come out of it. Then, the property itself made a whopping 5.5 million in just a few months.
Solid profits, well-done business.
You see, there wasn't real money involved here during the transaction.
Well, you may oppose. Bitcoin is a form of real money now. So, distinguishing between Bitcoin and other sources of cryptocurrencies and bank notes is just nonsense.
The money is real, no doubt.
The thing is, there are countless opportunities we may leverage from trading this form of currency. Many of us are making fortunes, and many of them have made them already.
So, instead of just withdrawing whenever there is some in the wallet, let's keep it for the bigger bounty.
And never stop dreaming.
