cradmin Summary of modules – Crash Course for Professionals Module 1: Talk Crypto Blockchain overview: Types of blockchains: Consensus mechanisms: Blockchains by layer: Cryptocurrency basics: Module 2: Crypto Use Cases and Ecosystems Decentralized finance (DeFi) vs Centralized finance Use cases: Benefits of digital currencies: DeFi tools: Wallet types: Web3 ecosystems: Data security practices: Module 3: The … Read more
Crypto services plan for professionals. Steps to incorporate crypto into your practice Determine your direction Decide how crypto will be tackled; 3 primary options: The following is a unique option for those who are on the fence about crypto and may be looking at retirement within the next 3-15 years: Hire a junior to handle … Read more
Private Key Storage Recovery phrase vs private key Managing the security of your private keys is critical in the world of cryptocurrency. Private keys are what give you access to your crypto assets, and if you lose access to them, you lose access to your funds. Storing your keys in a single location increases the … Read more
CARF: The Tax Man Has Arrived in the Cryptosphere The upset Big changes are coming, and few are prepared: Overview of CARF CARF is a game-changer; delivering usersʼ crypto data right to the front door of the tax authority: The 3 components of CARF CARF encompasses key areas that define its operation: The tax man … Read more
Staking & Yield Farming Uber summary Staking overview Staking is depositing crypto assets to earn returns, referred to as ‘rewardsʼ. Some staking platforms are flexible, allowing the depositor to withdraw at an time. Others offer a variety of terms, with the longer durations offering a higher yield. From a taxation perspective, staking a coin which … Read more
Common Crypto Tools Blockchain explorers View a wallet, research transaction details Coin prices & performance Coin rankings, screeners, market volume, charts, exchange information Dex tools, rankings, search DeFi related tools, commonly used to find pairs and to check a coinʼs market cap or exchange volumes News Disclosure: Use these tools at your own risk. Crypto … Read more
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What Your Bookkeeper Needs to Know About Digital Assets in Order to Help You Navigate the Crypto Maze Commodities have carved out their own niche in the ever-changing world of finance, functioning outside the limitations that are typically associated with traditional financial institutions. You’ve probably already learned that handling these digital assets is similar to … Read more
Unmasking Crypto Tax Fraud: How Tax Authorities Utilize Cutting-Edge Technology to Track Online Transactions Cryptocurrency has transformed the finance sector by offering a decentralized and secure method for executing transactions. Nevertheless, the burgeoning popularity of virtual currencies has surfaced new challenges for tax authorities globally, particularly concerning tax evasion. In response, tax watchdogs are leveraging … Read more
Navigating Tax Authority Pressure on Crypto Taxes: Why Hiring CryptoRecords.ca Can Save the Day The world of cryptocurrency has come a long way since the early days of Bitcoin. What was once a niche interest for tech enthusiasts has exploded into a global phenomenon, with everyone from individual investors to large institutions jumping on the … Read more