We’ve compiled a short list of the best cryptocurrency related Black Friday and Cyber Monday deals. Whether you need a new hardware wallet to protect assets from failing exchanges or a new password manager to help stop you from reusing your dog’s name as your most secure password–we’ve got you covered.
There will be updates to this page as Black Friday and Cyber Monday progress.
Now more than ever you should be comfortable with using hardware wallets to move funds on and offline. As we’ve recently seen with the collapse of FTX and its contagion. We like both of these hardware wallets.
Get a $20 BTC voucher when you buy a Ledger Nano S Plus or a $30 BTC voucher when you buy a Ledger Nano X.
We’ve all heard of Robinhood, the popular retail trading app, which has for better or worse reshaped trading trends for the masses, including zero fee trading. The zero fee trading trend is spreading like wildfire among powerhouse exchanges looking to keep volume on their platforms–and traders are benefiting.
We have compiled a short list of zero fee crypto exchanges that are currently offering no fees for maker, taker, or both on spot and derivative markets for API and algorithmic traders using HaasOnline TradeServer Cloud.
It should also be noted that several exchanges including ones in this no fee list have their own tokens and/or VIP programs which can make trading on their platform free or nominal.
Death and taxes are said to be the only things you cannot escape in life. When the latter is mixed with the world of cryptocurrency trading and investing, things can quickly become confusing and unclear.
In this article, we break down the fundamentals of cryptocurrency taxes for our traders that reside in the U.S. We discuss how the asset class is treated from a tax perspective and also outline the process for properly reporting the gains, losses, and income associated with your crypto trading activity.
Contrary to what their name suggests, cryptocurrencies are not currently treated as currency in the eyes of some governments. The IRS (the tax collecting agency of the U.S) makes clear in its official virtual currency tax guidance that cryptocurrencies are to be treated as property for tax purposes.
What does this mean?
This means that all cryptocurrencies such as Bitcoin, Ether, XRP, and other altcoins need to be treated similarly to any other form of property like stocks, real-estate, or bonds from a tax reporting perspective.
In other words, capital gains and losses tax reporting rules apply to cryptocurrencies just like they do for stocks and bonds.
Craig purchased 1 Bitcoin for $10,000 in April. Five months later, Craig sold that Bitcoin for $12,000.
In this example, Craig realizes a taxable event when he disposes of his Bitcoin by selling it for fiat. He realizes a $2,000 capital gain upon disposal (Sale Price – Purchase Price). Depending on what personal income tax bracket Craig falls under, he will pay a percentage of tax on this capital gain.
John also purchased 1 Bitcoin for $10,000. However two months later, John traded 0.5 of that Bitcoin for 30 Ether. At the time, the 30 Ether was valued at $6,000.
In this example, John is disposing of his Bitcoin by trading it for ETH. This incurs a taxable event, and John realizes a capital gain or capital loss.
John’s cost basis for the 0.5 Bitcoin that he traded was $5,000 (0.5*10,000). The 30 ETH John traded for was worth $6,000 at the time of the trade, so John incurs a $1,000 capital gain on the transaction (6,000 – 5,000).
As you might have realized from these examples, calculating gains and losses can become quite tedious for high volume cryptocurrency traders—especially when you are actively trading crypto with on our automated trading products. This challenge stems from the fact that your crypto trades are most often quoted in other cryptocurrencies while your capital gains and losses need to be reported in your home fiat currency (US Dollar).
To effectively calculate your gain or loss from each trade, you need to know what the fair market value was in US Dollar for your cryptocurrencies at the time of the trade.
Data aggregators like CoinMarketCap can be used to track down this data by hand. Alternatively, cryptocurrency tax software products like CoinLedger.io can automate the entire crypto tax reporting and calculation process.
Yes! While capital gains increase your taxable income, capital losses lower it—meaning you’ll pay less to Uncle Sam by filing your losses.
In the U.S., you need to report each taxable event whether it is a capital gain or a capital loss. One common misnomer amongst traders is that if they lost money overall, they do not need to report. This is not true, and they will actually miss out on large tax savings by not reporting losses!
Capital gains and losses get reported on Form 8949. Simply report each taxable event (disposal) that you have within the tax year on a separate line of 8949. Once all disposals are entered, add them up to arrive at your net capital gain or loss.
For each row on 8949 you will need to include:
A description of the property sold
Original purchase date
Proceeds from the sale (in USD)
Cost basis in the property (in USD)
Gain / Loss
Below is an example of a filled out 8949 from a trader who was disposing of Ether.
Once you have your net capital gain or loss from all of your cryptocurrency disposals reported on 8949, you simply transfer this number to Schedule D of your tax return. Include both of these documents with your holistic tax return.
If you are looking for an easy way to automate your crypto tax reporting, it may be helpful to checkout some of the tools that have been specifically developed to help crypto traders with their tax reporting.
HaasOnline has teamed up with CoinLedger.io to help enable a more streamlined tax reporting for our U.S. traders.
CoinLedger integrates with most of the major exchanges we support to allow you to import your historical crypto transactions directly into their app. You can then generate your capital gains and losses tax forms based on this data with the click of a button.
HaasOnline users can use the discount code HAASONLINE to receive 20% off any CoinLedger.io report.
To ensure that you will be able to easily report your crypto taxes at year end, make sure you are keeping track of the various exchanges and platforms you are using to trade. If you are a heavy user of multiple exchanges, it can be easy to lose track of everything you did over the course of the year. To avoid this, make sure to keep clean records.
Once year end comes around, you will easily be able to account for all of your trades and transactions with these records and get your tax reporting done in no time.
We’ve come a long way from the beginning of cryptocurrencies. We now have the option to HODL crypto in high-yield savings accounts on BlockFi, Coinbase, Gemini, and many others.
BlockFi has solidified themselves as one of the best crypto interest earning products available. At the time of writing this you will earn 4.5% APY on $BTC and the highest is 9.5% on $USDT.
Hold OKEx OKB and earn big
We’ve partnered with OKEx to create exclusive promotions for our community. Although we’re biased to active trading, we know there’s more than one method to increase your crypto portfolio.
This time it pays to hodl.
It’s simple. When you hold 20 $OKB for only 7 days, you earn 15% interest. That’s it and best of all it’s deposited directly to your account in $OKB.
As an active trader you can use $OKB to reduce your trading fees while deploying active OKEx trading bots across their markets. The more OKB held, the lower your trading fees–up-to a 40% reduction. You also get access to other programs and features on their platform when you hold their token.
To participate, login to your OKEx account and simply follow the link below:
Terms & Conditions apply. 20 OKB required, level-1 KYC required, one-time use, offer expires 31/12/2020, other terms and conditions may apply. See official OKEx promotion page for additional information.
Compete against other Kraken Futures traders to win over rewards, merch, and more!
We’ve partnered with Kraken Futures to bring you a trading competition. Compete against other Kraken Futures users to claim your stake from over $10,000 in rewards, Kraken merch, HaasOnline licenses, and more.
You must be logged into your HaasOnline account in order to begin the registration process.
We will be awarding the top 5 most profitable Kraken Futures traders with a total of $5,000 in Bitcoin. Rewards will be sent to the wallet address used during registration.
$5,000 in Bitcoin for the First 50 Traders
Be among one of the first 50 traders to execute trades during the Kraken Futures competition to secure $100 in Bitcoin. Rewards will be sent to the wallet address used during registration.
Official Kraken Futures Merch
The Kraken Futures team will be giving out merch throughout the competition. Leave a comment on our latest YouTube video with your intended trading strategy and you may get a surprise.
Official XRP Merchandise
The XRP organization has graciously donated branded baseball caps and stickers. We will be giving these items out during the trading competition to Kraken Futures traders who make trades with XRP and win them on our Twitter.
HaasOnline Trade Server Licenses
We’ll be giving out HaasOnline Trade Server licenses during the registration period. Be sure to follow Kraken Futures and HaasOnline on social media for your chance to grab one if you don’t already have an active license!
Get your License
If you’re already a Kraken Futures user, complete the registeration and we will provide you with a license for the competition. Promotional code expires 04/20/2020.
We’ve also included up-to $100 in credit for you to install HaasOnline Trade Server on a high-performance virtual private server of your choice. See details once your order is complete.
Create your Kraken Account
If you don’t already have an Intermediate or Pro Kraken account, you will need to create an account. The Kraken team will expedite your registration, however please be aware that it can take up-to 36 hours to verify your details. Do not wait till the last day!
Do you need help registering for this competition? Are you having issues that require either HaasOnline or Kraken Futures?
Join Kraken Future’s official Telegram group for direct support with setting up your account.
Join our Discord server and head into the #competitions channel for help getting configured for this event.
During our Cyber Monday sales event we’re offering, for a limited time, a 40% discount on all HaasOnline Trading Server licenses. You can now finally get your hands on the #1 trusted crypto trading bot platform on the market, including an advanced license, for as little as 0.016 BTC* a month. If you’re already an existing HaasBot customer this may be the perfect time for you to upgrade your license(s) to an advanced license using this deep discount.
During our Black Friday sales event we’re offering, for a limited time, a 40% discount on all HaasOnline Trading Server licenses. You can now finally get your hands on the #1 trusted crypto trading bot platform on the market for as little as 0.006 BTC* a month. If you’re already an existing customer this may be the perfect time for you to upgrade your license(s) using this deep discount.
Oh, hey looks like it’s time for a surprise trading bot giveaway. This time around we’d like to know what your favorite cryptocurrency exchange is! To enter all you have to do is: retweet our contest tweet with your favorite crypto exchange tagged and subscribe to our YouTube channel.
You must meet all of the listed requirements below to be eligible, no purchase necessary. We will announce the winners via Twitter on September 24, 2018 to gather your details, confirm your YouTube subscription, and activate your 3-month Beginner license* for HaasOnline Trade Server.
Yeah, yeah, we know… another crypto trading bot giveaway. However, we honestly want to know which of our cryptocurrency trading bots are your preferred tools to work with. To enter all you have to do is: follow our Twitter account and retweet our tweet with your answer. You must meet all three of the listed requirements to be eligible, no purchase necessary. We will inform the winners via Twitter DM or Reply on August 5, 2018 to gather your details and activate your 3-month Beginner license* for HaasOnline Trade Server.
* You may not resell or trade promotional licenses, if in violation they will be terminated immediately.
** If you’re a current customer we will add the additional term length to an active license.