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Google Maps ‘Immersive View And Live View’ Could Revolutionize Maps

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What Is Google Maps Immersive view?

Immersive View is the Google’s latest feature added to the Google Maps. Google Immersive View uses street views with aerial images to create a 3D model of the world.
This is possible due to the huge advancement in technology especially computer vision and in artificial intelligence that allow us to fuse together billions of Street View and aerial images to create a rich, digital model of the world.

Through the years Google Maps has grown to become handy companion for the users when they need to find the perfect restaurant or get information about a local business.
Google believes that the Immersive View will give the users a live like experience of a neighborhood, landmark, hotel, restaurants and other popular places. It will feel like you are live in those places-even before you set you visit them.

The goal of this feature is to help users and travelers be more informed about the places they want to visit. They will be able to see and experience them before their visit rather than basing their decision of a place on just the pictures they saw online.

How Does Google Maps Immersive View Work?

How Does Google Maps Immersive View Work?

The feature creates 3D model of the world by fusing together the billions of street views and aerial images Google have gathered through artificial intelligence through the years.

“Say you’re planning a trip to London and want to figure out the best sights to see and places to eat. With a quick search, you can virtually soar over Westminster to see the neighborhood and stunning architecture of places, like Big Ben, up close. With Google Maps’ helpful information layered on top, you can use the time slider to check out what the area looks like at different times of day and in various weather conditions, and see where the busy spots are. Looking for a spot for lunch? Glide down to street level to explore nearby restaurants and see helpful information, like live busyness and nearby traffic. You can even look inside them to quickly get a feel for the vibe of the place before you book your reservation.” writes Miriam Daniel, VP of Google Maps.

The best part of the announcement is that the Immersive View will work on just about any device and phone.

What Are The Key Features Of Google Maps Immersive View?

  • An additional time slider that gives users the ability to check out what a place or neighborhood looks like at different times of day and in different weather conditions. This element gives more information and enable users prepare even better before their visit.
  • Users can also take a tour into the interior of some of the restaurants and diners they are hoping to visit through the integrated aerial and 360° view.
  • This update also helps users find the most fuel-efficient route when they drive.
  • The use of Live View with third-party apps.

When Will Google Maps Immersive View Be Available?

When Will Google Maps Immersive View Be Available

“Google Maps helps over one billion people navigate and explore. And over the past few years, our investments in AI have supercharged the ability to bring you the most helpful information about the real world, including when a business is open and how crowded your bus is. Today at Google I/O, we announced new ways the latest advancements in AI are transforming Google Maps,” writes Daniel.

The New Google immersive view feature works on just about any phone and device. The feature starts rolling out in Los Angeles, London, New York, San Francisco and Tokyo later this year with more cities coming soon.

Is Google Immersive View Also available For iPhone Users?

Most times iPhone users are the last to receive a feature when a new Google Maps feature is released. But this time that will not be the case as Google have stated that the Immersive view will work on almost any phone and device, and that means your beloved iPhone inclusive.

What Does Live View Mean On Google Maps?

What Does Live View Mean On Google Maps

Google Live View assists you in finding your way when exploring or walking around in a place.

This is make possible using Augmented Reality (AR) to display helpful directions and arrows right on top of the user’s world. Google Live View mostly helpful when navigating indoor areas that might be tricky, like train stations, airports and malls.

Thanks to Google’s Artificial intelligence based technology called global localization. Google Maps can help you by pointing you to where you need to go in a matter of seconds. As part of Google’s efforts to bring the helpfulness of Google Maps to more places, they are now also making their technology available to developers at no cost with their new ARCore Geospatial API.

“Developers are already using the API to make apps that are even more useful and provide an easy way to interact with both the digital and physical worlds at once. Shared electric vehicle company Lime is piloting the API in London, Paris, Tel Aviv, Madrid, San Diego, and Bordeaux to help riders park their e-bikes and e-scooters responsibly and out of pedestrians’ right of way. Telstra and Accenture are using it to help sports fans and concertgoers find their seats, concession stands and restrooms at Marvel Stadium in Melbourne. DOCOMO and Curiosity are building a new game that lets you fend off virtual dragons with robot companions in front of iconic Tokyo landmarks, like the Tokyo Tower. The new Geospatial API is available now to ARCore developers, wherever Street View is available.”

What Is Google Eco-Friendly Routing?

What Is Google Eco-Friendly Routing

Recently Google also launched eco-friendly routing in United States and Canada in addition to making the exploration of places easier. Google wants to help you get to your destination more sustainably. With the eco-friendly routing. You get to choose the most fuel efficient route when driving therefore saving you time and money on gas.

“Since then, people have used it to travel 86 billion miles, saving more than an estimated half a million metric tons of carbon emissions — equivalent to taking 100,000 cars off the road. We’re on track to double this amount as we expand to more places, like Europe.”

How To Learn Cryptocurrency Trading In Nigeria

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How To Learn Cryptocurrency Trading In Nigeria

What Is Cryptocurrency And How Does It Work?

Cryptocurrency is simply a decentralized currency. It is a virtual currency and doesn’t rely on a centralized body or organization like the central bank. It exists on the Blockchain and are created cryptographic systems. This cryptographic systems secures the cryptocurrency making it difficult for theft to happen.

The name cryptocurrency can be said to have been coined from encryption which is one of the major attributes that sets cryptocurrency apart from the fiat money or other digital monies. Encryption algorithms and cryptographic techniques such as elliptical curve encryption, public-private key pairs, and hashing functions safeguards the system.

Cryptocurrency relies on a peer-to-peer system to execute transactions. When a transaction is initiated a new block is created. For a cryptocurrency transaction to go through. There must be an agreement among the nodes on the Blockchain network before a transaction is successful.

What Is Cryptocurrency Trading In Nigeria?

Cryptocurrency trading is simply the act of trading cryptocurrencies on a crypto exchange. The act of exchanging fiat for a cryptocurrency or exchanging one cryptocurrency for another cryptocurrency. A person who trades cryptocurrencies is referred to as a cryptocurrency or crypto trader.

There are two main types of traders in crypto industry.

  1. The short-time trader
  2. And the long-term trader.

A short-term trader is also referred to as a day trader. Day traders trade the market everyday. They are those that takes the volatility nature of Cryptocurrency into account. They capitalize on that volatile nature and aim for steady gains from the market.

Though they most times don’t realize a lot of gain per trade but because they open multiple trades everyday, they make a big gains cumulatively.

A long-term trader is the opposite of short-term trader. They are also called cryptocurrency investors or holders. They don’t trade the market everyday or open multiple trades everyday. Rather they buy/invest in a number of Cryptocurrencies and hold them for a week to a month and even years.

The long-term traders are the ones that gains more with a cryptocurrency on the long run. Example are the early investors in Bitcoin in 2010 when it made its trading debut at a price of $0.0008 per token. If the y bought 1 bitcoin then. Now the value 1 bitcoins is check current price.

Those that bought it and held for a long time made a lot of profit. Even those that bought Eth, Axs, BNB and waited for a long time made huge profits. I recommend you read Proven ways even beginners makes money with cryptocurrency.

Is Cryptocurrency Legal In Nigeria?

For the fast few years there has been inconsistency in the status of Cryptocurrency in Nigeria. Before February 5th 2021 cryptocurrency had no status in Nigeria. There was no approval or ban from the government but on the 5th of February the Nigeria Central Bank released a statement barring banks in Nigeria from engaging in cryptocurrency transactions.

The banks were barred from allowing cryptocurrency transactions to take place through their platforms. The central bank introduced a penalty for the banks and individuals that engage in cryptocurrency transactions. The banks were to be fined and the individuals risk losing their bank accounts and even their funds.

On Wednesday April 6 2022 the central bank of Nigeria fined about 4 banks over #800,000,000 eight hundred million naira for their failure to close accounts that were involved in crypto transactions according to the February 5 2021 directives.

Did Cryptocurrency Ban In Nigeria Stop Cryptocurrency Activities?

Despite the threats and ban from the Central Bank of Nigeria. Nigerians have continued to carry out cryptocurrency activities. Even though the Nigeria Central Bank governor Godwin Emefiele stated through his deputy Adamu Lamtek on 21 March 2021 that the Central Bank of Nigeria didn’t ban the use of Cryptocurrency.

“What we have just done was to prohibit transactions on cryptocurrencies in the banking sector.” but the statement still meant ban to Nigerian based crypto traders and investors because they relied on the banks for their transactions.

After the ban was issued, Nigeria resulted to the use of peer-to-peer (P2P) form of transaction. The peer-to-peer platforms like Binance saw a huge increase in traffic and usage by Nigerians in Nigeria. Nigerians have continued to engage in cryptocurrency but not open with their transactions.

Will Central Bank Of Nigeria (CNN) Remove the Ban On Cryptocurrency?

This has been the question since 2021 by people that believe in cryptocurrency. Many people have spoken out on the need for the CBN to revisit and reconsider their position on the cryptocurrency. On March 11 2022 a leading Nigeria financial website published an article on the reasons why the ban should be lifted.

This has continued to be the dreams and wish of many in Nigeria but there seems to be a glimpse of hope for cryptocurrency in Nigeria. On May 14 2022 the Nigeria Securities and Exchange Commission (SEC) released a set of rules for cryptocurrency exchange.

These cryptocurrency rules are to be met by the cryptocurrency exchanges that operate in Nigeria before they can carry out their business. This has prompted the people to ask if the cryptocurrency is now legal in Nigeria. Currently, the position of the Central Bank Of Nigeria is still unclear but many believe that this is a positive sign. They believe that in no time, the ban will be lifted.

How Do I Start Learning Cryptocurrency Trading In Nigeria?

When it comes to learning crypto trading in Nigeria there are two ways to do it.

  1. Teaching yourself
  2. Learning from someone

You can learn from someone either through physical training or digital/virtual training. The virtual training can be enrolling to a school and joining live class or purchasing a pre-recorded tutorial.

Things To Consider Before Choosing How To Learn Crypto Trading In Nigeria

Time: Ask yourself ‘how much time do I have available to learn this?’. This question is important and it is crucial that you answer it honestly. Don’t think you will create 2 hours per week when you hardly have 5 hours awake time to yourself per week. This knowledge will help you identify the right firm and channel for learning.

Convenience: Is this channel convenient for me? Convenience is another factor to consider. Not everyone wants to go through the self-teaching path. Not everyone can deal with the loneliness though some others find it interesting and at the top of their preferred form of learning.

Even when it comes to digital/virtual learning convenience shouldn’t be neglected. Pre-recorded or live? If it is live training. What is the time for the training?

Cost: What is the total cost for learning trading through this channel? Whether self-teaching or learning from someone. There will always be a cost. Therefore, have find out and think about it when you’re making your decision.

3 Basic Things You Need For Learning Cryptocurrency In Nigeria

  1. A smartphone, Laptop or PC
  2. Access to power
  3. Internet access and subscription

Where Can I Learn Crypto Trading In Nigeria?

In this articles I will be focusing on digital/virtual means of learning. I will discuss some of the places where you can learn how to trade cryptocurrency in Nigeria.
Below is a list of courses that can take you from a novice in trading to advanced level.

  • Trade And Make Money Online Masterclass

daba.school Trade And Make Money Online Masterclass

This is a course from Chris Ani. He is the founder of Dana.school and Cryptohub.club. He has been in the crypto industry since 2017.

In this course you learn VALUABLE and PRACTICAL lessons on how to:

  • Analyse the market with different techniques.
  • Best fundamental analysis approach to different asset class.
  • You learn about different tools for effective fundamental analysis to improve your profitability in the market.
  • You’ll learn about trading psychology and best mindset positioning.
  • You’ll learn how to do technical analysis, different technical strategies to boost successful trades. Packed all together, you’ll get equipped on trading with technical indicators and everything you need to know about technical indicators.
  • Majority loose trades due wrong approach to technical indicators, in this course – you’l learn the best practices.
  • Inclusive, you’ll learn about price actions trading and pattern trading.
  • You’ll learn how to spot profitable trades using both fundamental and technical analysis.

Oh! Let’s say you want everything simple… This course will give you a knowledge of simple and effective tools to analyse the market.

You’ll learn about

  • Exchange in crypto
  • Decentralized and centralized crypto.
  • The pros and cons of crypto and staying profitable with them.
  • How to use Binance, TrustWallet, and lots more packaged in this course.

That’s not all, in addition to the course you will also get

  • The Private Signal Room

You get a 1-year FREE access to the Cryptohub Signal Room where you’ll get calls with points of entry, profit, exit and stop loss. After one Year, you have the option of renewing your subscription.

  • The Private Exchange Group

One of the strongest indicators for early success in crypto is your network. We’re all about your success, so, we’ll provide you with access to a network of over 200 traders from Africa and beyond with whom you can trade your coins.

  • The Traders’ Chatroom

You’ll get to discuss, analyze, and monitor trends, updates, and issues among the market’s top traders.

View Training

  • Profitable Trading Signals and Training

waptutors.com Profitable Trading Signals and Training

The Waptutors Trading course is one of the most robust trading course in Africa, it focuses on training and educating new people on how to trade asset classes and make money with our signals being dropped inside the Academy website, Our various Whatsapp groups, Private telegram channels, SMS to your phone and even via email alerts..

The course comes with the following:

  • Unlimited Video training on Trading
  • Live tutor to guide you to get started
  • Private Whatsapp group for Discussion
  • Private Whatsapp group for Signals
  • Private Telegram Group for Signals
  • Signals are sent to your emails
  • Signals are sent to you as SMS
  • Zoom Meetings and trainings
  • Market Analysis and Overview
  • Monthly Crypto Challenge
  • Trading Spot & Futures.
  • Some of the videos inside the Academy are:
  • What are Cryptocurrencies
  • Explaining Blockchain Technology
  • How to Spot a coin that can 10x easily
  • How to Buy Cryptocurrencies
  • What every trader needs to know (10 Tips)
  • Crypto Assets Classification
  • How to diversify your portfolio
  • How to research into a potential GEM
  • Futures Trading & How to Avoid Liquidation
  • How to Spot coin that is in accumulation and may pump soon
  • How to Know the Satoshi Value
  • Explains Kinds of Exchanges
  • Explaining the Various Blockchain Networks
  • How to register and secure an Exchange Account (Binance)
  • How to Trade (Buy/Sell) on CEX
  • How to Farm tokens on Binance
  • How to get into a coin quickly on Binance (Launchpad)
  • How to Trade on a Decentralized Exchange
  • How To Deposit And Withdraw Crypto
  • How to Mitigate Risk & Scale profits with Stop Losses
  • Top 6 Hold Coins for every month – EOY
  • How to Calculate Profits and Losses (The Easy Way)
  • Picking Exit positions in Trades easily
  • Arbitrage Trading and How to make money with it
  • Various Order Types in A Centralized exchange
  • Fundamental Analysis in Crypto Trading
  • Technical Analysis in Crypto Trading
  • Easy Risk Management Strategy
  • What is DEFI and What are our top HODL Coin in DEFI
  • Various Abbreviation in the Crypto Space and Meaning
  • Non-Fungible Tokens (NFTs) and our TOP NFT Projects
  • Blockchain and Crypto Security Tips
  • Different types of Blockchain proofs and which is best
  • What Does Bitcoin Halving Mean?
  • Where and How to store your crypto assets (Safest place)
  • Differences between Futures Trading and Spot trading
  • What is Flash loan attacks and how to Avoid it
  • How to DCA Properly into Trades
  • How to Manually add tokens to your Wallets
  • How to Stake Coins in A DEX
  • How to Create a Decentralized Wallet
  • Complete Futures Trading Guide
  • Understanding Order book in a Centralized exchange
  • How to Make money in Blockchain without trading
  • How to Buy and Sell crypto using Binance P2P
  • Leverage tokens & Make money in Spot even when market is going down
    ..and many more..

View Training

Best Crypto Tax Software Solutions: Reviews 2022

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Best Crypto Tax Software Solutions: Reviews

How Does Cryptocurrency Tax Work?

Many people don’t know or believe that crypto can be taxed. These belief can be linked to the fact that cryptocurrency is a new technology and is yet to be widely accepted.

When crypto is sold at a profit just like every capital assets, you owe crypto tax. In the eyes of the Internal Revenue Service (IRS), cryptocurrency is like every other capital asset, just like your stocks and real estates.

Short-Term Capital Gains And Losses

How much you pay in taxes for cryptocurrency assets are determined by how long you have owned the assets before the profit sell. When you have owned them for a short term, that is less than 12 months, the profits are taxed based on short term capital gain’s rates, that is the same as your income tax rates.

When you have have sold the asset at a price lower than it was purchase. It is called short-term capital loss. This is subject to the same tax rates that are paid on ordinary income, like salaries and wages.

Short-Term Crypto Tax Rates

I have previously stated that the IRS taxes short-term crypto gains as ordinary income. Here are the income tax rates that will apply to gains on crypto you held for 365 days or less in 2022:

Tax Rate Single Married Filing Jointly Head Of Household
10% $0-$10,275 $0-$20,550 $0-$14,650
12% $10,276-$41,775 $20,551-$83,550 $14,651-$55,900
22% $41,776-$89,075 $83,551-$178,150 $55,901-$89,050
24% $89,076-$170,050 $178,151-$340,100 $89,051-$170,050
32% $170,051-$215,950 $340,101-$431,900 $170,051-$215,950
35% $215,951-$539,900 $431,901-$647,850 $215,951-$539,900
37% >$539,900 >$647,850 >$539,900

Data Source: IRS

Long-Term Capital Gains And Losses

In the other hand when you have owned the asset for 12 months or more before selling, it qualifies for long-term capital gains and losses taxes.

When you are paying for a long-term capital gains and losses, you pay less than what you would have possibly paid for a short-term capital gains and losses tax.

Long-Term Crypto Tax Rates

Here is the cryptocurrency tax rates for long-term in 2022. This rates are effective at the filing of 2022 tax return next year. This data is from IRS.

Tax Rate Single Married Filing Jointly Head Of Household
0% $0-$41,675 $0-$83,350 $0-$55,800
15% $40,676-$459,750 $83,351-$517,200 $55,801-$488,500
20% >$459,750 >$517,200 >$488,500

Data Source: IRS

What To Look For In A Crypto Tax Calculator Software

I know the shock the mention of crypto tax calculation and sorting can send down the spine. This process can be complex and tiring.

From keeping track of your transactions to figuring out the applicable tax rates and calculating the tax on every transaction. This is where a crypto tax software comes to rescue.

With the steady growth that have been seen in the cryptocurrency industry and the large inflow of new users, traders and the adaptation by different government, society and organizations, the need for tax software has been on the increase.

When trying to choose a tax software for personal or cooperate use, there are basic features that should be looked out for.

Below are the 5 features to look for.

Flexibility

If you are a heavy user and a big fan of smooth user experience, having to add cryptocurrencies manually or finding yourself in a situation where the software you have chosen doesn’t integrate with the popular cryptocurrencies that you deal with.

Flexibility is essential, the tax software has to support at least the popular cryptocurrencies, that way you won’t have to shuttle between software to sold your needs.

Automated Data Input

What is the use for a software if you still have to do everything manually? Like the input of dates, transaction time, price of the crypto at the time of transaction, the duration of time the crypto was with you.

Doing all these manually is not only time consuming but can be ambiguous task for a big trader who makes a lot of transactions daily. Absolutely that defeats the primary idea of a software.

You need to make sure that your chosen software has some level of data input automation. A software that integrated with wallets and that can input data from the wallets any time a transaction is made.

Reliability

You don’t want to use a software that will be sane today and tomorrow is acting all weird. Mistakes are not tolerated while calculating your taxes and any mistake can result to heavy penalties.

In case the IRS notices any discrepancies in the reports you submit, you could even face taxes charges like evasion charges and I know that you won’t want to find yourself in that kind of situation.

Choosing a reliable tax software is very important. You should check out the users experience reviews online or ask users directly if possible. This will help you understand how reliable the software is and if it is something you want to invest in.

Accurate Ready-To-Use Paperwork

Life for a trader is simplified when pre-filled forms are provided. Therefore, most softwares provide users with pre-filled paperwork that the user can easily download and file.

While pre-filled forms are helpful, accuracy is important. Make sure that the calculations from the software is 100% accurate before you fully rely on the forms that it provides.

A major attribute of a good tax software provides well detailed paperwork that comes with gains and losses, audit track, etc.

Price

Your money is involved here and I think you should pay keen attention to the cost. Different software charge differently, some charge based on factors like the number of transactions you make, the range of integrations, bandwidth, etc.

It is not advisable to pay a lot for less but if the premium plan of a software would offer a better service and make things a lot easier, it is smart to go for it.

What Is The Best Cryptocurrency Tax Calculator?

This question is why this list was made. I have reviewed these software staring with the one that ticked most of my boxes. They are number 1 – 10, with 1 being the highest and 10 the least.

Koinly

Koinly is not only the most known crypto tax calculation software but also a robust tax tool. Not only does Koinly pride in accurate report provision, it also have great features that allows you to manage all your crypto holdings in one place.

Koinly is also a fast-crypto tax calculation software. It can also report a missing transaction and able to delete duplicate entries.

Key Features

  • Connects with 353 crypto exchanges, 74 wallets, and 14 blockchain addresses.
  • Creates the appropriate crypto tax reports and also produce the required crypto tax reports for both self-filing and working with an accountant.
  • Downloadable tax reports
  • Accurate tax reports.
  • Double-entry ledger system that keeps track of every transaction made to make error tracking and debugging in the future easy.

Pricing

Koinly is a freemium software. It has a free plan and paid plans.

  • Free plan : Offers up to 10,000 free transactions, portfolio tracking, capital gain review.
  • Newbie plan: $49 per tax year
  • Holder plan: $99 per tax year
  • Trader plan: $179 per tax year

Free Trial: Yes

Coinledger

Formerly cointrader. Coinledger is a product of Kansas City based company also known as CoinLedger. Founded by David Kemmerer, Lucas Wyland, and Mitchell Cookson in 2018 exclusively for the United States crypto users and traders but later it started expanding and now it is accommodating the world. You can use coinledger anywhere you are in the world.

Coinledger has been able to win over 100,000 loyal customers who trust their service. It supports over 2,500 cryptocurrencies. Coinledger automatically keeps track of your portfolio, calculates them and converts them into tax reports which can be submitted to Internal Revenue Service (IRS) saving you money and time.

Key Features

  • Instant tax report provision through instant tax form and allows you to download the completed tax forms.
  • Free 14-day trial where you can test out the software.
  • Easy import of data from different cryptocurrency platforms.
  • Works with TurboTax and TaxDirect, and supports over 2,500 cryptocurrencies.

Pricing

Coinledger doesn’t have a free plan but it does provide free trial, which is fair and provides the customer enough time to make an informed decision.

  • Hobbyist: $49
  • Day Trader: $99
  • High Volume: $199
  • Unlimited: $299

Free Trial: Yes (14 days)

Tokentax

TokenTax is another great crypto tax software you can entrust with handling your taxes. Tokentax has experts with in-depth knowledge and years of experience in Defi, Nft, crypto industry.

Tokentax is more than just a crypto tax calculator software. It’s also a full-fledged crypto tax accounting firm and this makes its services more reliable, accurate and comprehensive.

Tokentax provides tax-loss harvesting service and offers margin trading support. The software makes tax reporting easy and simple through its automation feature.

Key Features

  • Tokentax gets rid of manual data entry using its automated wallet and syncing with exchange like coinbase, Binance, and BitMEX with a single click.
  • Real time tax liability tracking.
  • Audit assistance, automatic form fill out using TurboTax.
  • Experts assistance. The Tokentax experts can assist you if you have complex needs like a higher number of transactions, missing data.
  • Tax loss harvesting

Pricing

Unfortunately, Tokentax doesn’t offer a free trial or free plan. They have basic, premium, pro and VIP plan.

  • Basic: $65 every tax year
  • Premium: $199 every tax year
  • Pro: $799 every tax year
  • VIP: $2,500 per tax year

Free Trial: No

Cointracking

From one dashboard Cointracking gives your the ability to track your profit and looses. From the same dashboard you can discover your unrealized and realized gains.

Cointracking has 930K+ active users. It offers you the details of market trends for over 12,033 coins and it also comes with an automation features for importing your crypto transactions.

With Cointracking, you have access to 13 tax methods, like the FIFO, LIFO, HIFO, and LOFO methods and reports for 100+ countries. You can pay your subscriptions through BTC coins.

Key Features

  • Cointracking allows you to share your data with crypto tax advisors.
  • Provides you tools to study the trends in coins for trading.
  • Cointracking FAQ provides you with answers and they equally offer video tutorials.
  • The application is not only for individual traders. They service is also available for companies.
  • It supports importing of data from 110+ exchanges.

Pricing

Cointracking has a free trial and also have a free plan.

  • Free: $0
  • Pro: $10.99 per month
  • Expert: $16.99 per month
  • Unlimited: $54.99 per month
  • Corporate: Contact them for prices.

Free Trial: Yes (7 Days)

Taxbit

Taxbit is another big player in the crypto tax software market. Founded by CPAs and tax attorneys, so you are assured of best services and accurate reports from Taxbit. It also holds SOC 2 certificate which guarantees 100% data safety.

Taxbit API integrates with 500+ crypto exchanges, wallets, and DeFi platforms without issues. It automatically sync your data from the exchanges and then generate tax reports.

Taxbit is tailored to the crypto demands of the taxpayers in United States with its native support but it claims to serve anyone from anywhere in the world that has similar regimes with that of United States.

Key Features

  • Trusted by industry’s most reliable exchanges. This shows the how reliable its reports are.
  • Most exchanges are compatible with Taxbit API. This offers seamless usage across different exchanges.
  • Holds SO2 certificate from independent auditors, showing safety of data.
  • Tax loss harvesting and portfolio performance analysis features.
  • Taxbit doesn’t use bots, every process is executed by a real expert with experience.

Pricing

Taxbit does offer free trial and it comes with a free plan, which covers unlimited transactions and offers enough features to get your taxes done.

  • Free: $0
  • Basic: $50 per year
  • Plus: $175 per year
  • Pro: $500 per year

Free Trial: Yes

Zenledger

This is another great software that caters for your cryptocurrency tax needs. If you need a software that will keep an eye on your crypto activities. A software that integrates with over 400 Exchanges, over 30 De-Fi protocols and over 50,000 satisfied users, then Zenledger isn’t below the belt.

Zenledger covers all the forms you will encounter. It is important to highlight the fact that it is compatible with LIFO, HIFO & FIFO reporting methods. So, you are completely covered.

Zenledger is highly regarded for its simplicity, fastness and being user-friendly. It has a great customer support department filled with experts and are ready to assist you via chat, email, and phone calls, 7 days for the week.

Key Features

  • Presents transactions history in a spreadsheet. This helps you to keep track of your multiple transactions. It also calculates your profits and losses using your transactions history.
  • When it comes to security of data, Zenledger uses two-factor authentication for every user.
  • Offers professional tax suite, which empowers professionals looking to render tax services to their clients.
  • Zenledger allows you to report number of crypto income, like mining, DeFi, NFTs, donations staking.
  • Supports integration with over 400 exchanges through an API.

Pricing

Zenledger offers a free plan which allows less than 25 crypto transactions.

  • Free: $0 per year
  • Starter: $49 per year
  • Premium: $149 per year
  • Executive: $399 per year

Free Trial: Yes

Accounting.com

From supporting over 300 exchanges and over 7,500 currencies to being user-friendly, Accounting is a tax software that cannot be ignored.

Based in Switzerland, Accounting provides you with the tools and support to enable you keep track of your crypto transactions and to be able to submit your crypto taxes by yourself.

Through their CPA expert and crypto advisers, they guide you through filing of your taxes to avoid making serious tax mistakes and in return you save more money. You also get IRS compliant cryptocurrency tax calculator along with other top-notch crypto tax tracking tools.

Key Features

  • Provides country based tax calculator for Switzerland, the UK, Australia, Austria, Germany based users in agreement with the countries’ regulations.
  • Tax-loss harvesting and a downloadable tax reports.
  • All plans of Accointing.com give you access to a crypto tracking dashboard from there you can monitor your portfolio using its crypto tracker.
  • Accounting.com offers simple and easy to comprehend crypto tax reports.
  • Android and IOS applications.

Pricing

Accounting.com offers a free plan. This plan can handle 25 tax reports and for most beginners, this would be a good starting point.

  • Free Tax: $0
  • Hobbyist: $79
  • Trader: $199
  • Pro: $299

Free Trial: Yes

Cointracker

Cointracker is a beautiful tax software which give you a great visibility into your portfolio. It shows you real-time changes in your investments market values. This helps you to make an informed decision because they are shown as they happen.

This beautiful tax software also comes with a free plan that can handle up to 25 transactions. It currently supports over 300 exchanges and over 8000 cryptocurrencies.

With Cointracker you can share your tax reports with professionals. It currently serves over 500,000 customers.

Key Features

  • Integrates with TurboTax and TaxAct.
  • Supports over 300 exchanges and over 8000 cryptocurrencies.
  • Has a mobile app that is well rated both on Google Play Store and Apple Store.
  • Offers a personalized CPA when you are subscribed to the unlimited plan.
  • You can easily find a specific transaction using the calendar format for transaction review.

Pricing

Cointracker offers a free plan and a free trial for the paid plan.

  • Free: $0
  • Hobbyist: Starts at $59
  • Premium: Starts at $199
  • Unlimited: Priced individually

Free Trial: Yes

Cryptotaxcalculator

Accuracy is the word. CryptoTaxCalculator does a great job at calculating your crypto tax, it also integrates effortless with most cryptocurrency exchanges out there.

It sync with the exchanges and gather your transactions data, classifying transaction history, and processing the data to offer a well detailed calculations.

This is a robust software that also recognizes Defi staking rewards, NFT, Airdrops, ICO participation and even mining, there presenting you a clean outline of your gains and losses.

CryptoTaxCalculator doesn’t only support US, it also supports many countries like the UK, Japan, Portugal, Greece and many more and it promises more addition in the future.

Key Features

  • Supports data upload through API keys and CVS uploads.
  • Offers 30-day free trial
  • Supports over 20 countries and over 400 platforms.
  • You can import data, calculate taxes, and review transactions with its free trial.
  • You can effortlessly import the generated data into your tax software or forward it to your accountant.

Pricing

Cryptotaxcalculator doesn’t have a free plan but it has a 30-day free trial. All the features work in during the free trial period.

  • Rookie: $49 per tax year
  • Hobbyist: $99 per tax year
  • Investor: $189 per tax year
  • Trader: $299 per tax year

Free Trial: Yes

Bear.tax

An excellent software for figuring out your cryptocurrency taxes. It is equipped with the need features for a smooth experience. From its ability to import transactions data from all the supported exchanges, to automatically computing them into a report that you can send to your CPA or your tax software.

This software has one of the most accurate historical data feature. It also intelligently identify your taxable and non-taxable transactions.

Bear.tax is a great software not only to the professional traders but to accountants that wants to offer more excellent and efficient service to their clients.

Key Features

  • You can import from any crypto exchange using API keys or CSV uploads.
  • Bear.tax enables you to classify crypto income from categories like mining, staking, gifts etc.
  • Perfect for individuals and accountants rendering professional services.
  • Automatically computes documents and turn them into reports that you can send to your CPA or your tax software.
  • 24/7 customer support by experts.

Pricing

Bear.tax doesn’t have a free plan but it offers a free trial.

  • Basic: $10 per tax year
  • Intermediate: $45 per tax year
  • Expert: $85 per tax year
  • Professional: $200 per tax year

Free Trial: Yes

List Of Countries That Tax Crypto

If you live in one of these countries. You are bound to pay taxes on your crypto assets. Terms and Conditions apply to some of them.

  • United States
  • United Kingdom
  • Netherlands
  • Italy
  • Australia
  • Canada
  • Germany
  • Japan
  • India
  • Spain
  • Sweden
  • France
  • Ireland
  • South Africa
  • Switzerland

(Discover: How Cryptocurrency assets are taxed in these countries)

Countries That Don’t Tax Crypto

In these countries you don’t have to worry about taxes in your cryptocurrency assets. Terms and Conditions apply to some of them.

  • Belarus
  • Cayman Islands
  • El Salvador
  • Germany
  • Malaysia
  • Malta
  • Portugal
  • Puerto Rico
  • Singapore
  • Switzerland

(Discover the terms and conditions of crypto tax free countries).

Trezor Model T vs Ledger Nano X full comparison

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Trezor Model T vs Ledger Nano X full comparison

From the Trezor One being the only crypto hardware wallet in the market to the release of Ledger Nano s. Truly the cryptocurrency industry has continue to experience steady growth. In this article, I am comparing Trezor Model T vs Ledger Nano X.

Which Is better Trezor Model T Or Ledger Nano X?

It depends, each wallet has its own uniqueness and features. Factors like price, functionality, your needs, etc plays a big role here. In this article you will see the two wallets go head-to-head and by the end of this comparison, you will have enough information to market the right decision for you.

Features Trezor Model T Ledger Nano X
Type Of Wallet Hardware (Cold Wallet) Hardware (Cold Wallet)
Size 64.0mm x 39.0mm x 10.0mm 72.0mm x 18.6mm x 11.75mm
Weight 16g 34g
Currencies 1816 5,500
Bluetooth No Yes
Battery No Yes
Mobile App No Yes (IOS/Android)
Open Source Yes Yes
CPU 168 MHz embedded ARM processor (Cortex-M4) running a custom developed system, the Trezor Core. ST33J2M0 (secure) + STM32WB5

What Is Trezor Model T

Released Date: February 26, 2018

Company: SatoshiLabs

Country: Prague, Czech Republic

Trezor Model T is the second hardware wallet from SatoshiLabs, one of the major players in the cryptocurrency hardware wallet market. The Trezor Model T was released on February 26, 2018 succeeding the Trezor One which was released on July 29, 2014.

Trezor Model T Key Features

  • Passphrase Support
  •  Affordable
  •  Open-Source
  •  Color Touchscreen
  •  Quick & Easy Setup
  •  Multisig Support

What Is Ledger Nano X

Released Date: May 28th, 2019

Company: Ledger

Country: Paris, France

Manufactured in France by Ledger. Ledger is one of the top companies that manufactures cryptocurrency hardware wallets. The Ledger Nano X was released on May 28, 2019. The Ledger Nano X is preceded by Ledger Nano S which was released on June 20, 2016.

Ledger Nano X Key Features

  •  User friendly
  •  USB-C cable
  •  Bluetooth Enabled
  •  Improved display
  •  Multi-signature Support
  •  Passphrase support

Battery

The Ledger Nano X has a 100mah battery, which can be charged when you connect it to your laptop or PC. The battery is estimated to last to 3 months when not in use and can last 8 hours when in steady use.

The Trezor Model T doesn’t have a battery. It derives its power from your laptop or PC

Software

The Trezor Model T comes with android and IOS app, a windows and MacOS, while the Ledger Nano X comes with all the apps and software as Trezor, but with addition of Linux software. The Trezor Model T can send, receive, store and trade but Ledger is missing the trade feature. The two wallets are built using an open source framework.

Features Trezor Model T Ledger Nano X
Wallet Software Windows Software
MacOs Software
Android App
iOS App
Android App
iOS App
Windows Software
MacOS Software
Linux
Software Functions Receive
Send
Store
Trade
Receive
Send
Store
Transaction Fee Control Yes Yes
Password Manager Yes Yes
Open-Source Yes Yes
Customer Support Yes Yes

Connectivity

When it comes to connectivity, the two are not a lot different. The only different is that the Ledger Nano X comes with bluetooth and wifi connectivity but Trezor Model T comes with only the USB.

Features Trezor Model T Ledger Nano X
Wallet Connectivity USB Bluetooth
USB
Wifi
Wallet Control Mobile
Dekstop
Mobile
Dekstop

Supported Cryptocurrencies

There is a significant gap between the number of cryptocurrencies the two wallets support even though they both support ERC20. Trezor Model T supports 1,816 cryptocurrencies while Ledger Nano X supports a whopping 5,500 cryptocurrencies.

Trezor Model T is compatible with Exodus + 40 more wallets/exchanges and the Ledger Nano X is compatible with MyCelium, Exodus + 48 more wallets/exchanges.

Features Trezor Model T Ledger Nano X
Number of Supported Crypto/Token 1,816 5,500
ERC20 Support Yes Yes
Compatibility With Wallets/Exchanges Exodus + 40 more MyCelium, Exodus + 48 more
Bech32 Yes Yes
Legacy Addresses Yes Yes
SegWit Yes Yes

Security

Features Trezor Model T Ledger Nano X
Multi-signature Yes No
Pin Code Yes Yes
2FA Two-factor Authentification Yes Yes
Private Key Owner You You
Anonymity Level Great Great
Backup Type 24-word Recovery Phrase 24-word Recovery Phrase
Full Wallet Control Level Great Great
Security Level Great Great

Setup Process

The initial setup process of both the hardware device is identical.

Ledger Nano X Setup:

  • Start the device by plugging it in a desktop or mobile or connect using Bluetooth.
  • Download and install the Ledger Live app
  • Initialize the device and write down the seed words it shows.
  • Confirm those seed words.
  • Set a PIN & you are ready to use the device through the Ledger Live app

Trezor Model T Setup:

  • Download and install the Trezor app.
  • Connect the device to a desktop and install the firmware as  Trezor comes without it.
  • Once the firmware is installed, remove and replug your device.
  • Select ‘Create a new wallet’ and take the backup of the recovery seed.
  • You are set to use your Trezor Model T.

Note: The two wallets have a C-type port and also provide a USB-C connector in its toolkit for connecting to your desktop or mobile phone.

Price

Pricing Trezor Model T Ledger Nano X
Base Price See Price See Price
Money Back Guarantee 14 Days 14 Days
Service Fees No No

Payment Methods

Payment Methods Trezor Model T Ledger Nano X
Wire Transfer No Yes
Credit/Debit Card Yes Yes
Paypal No Yes
Cryptocurrency Yes Yes

FAQ

What Types Of Cryptocurrency Wallets Are There?

There are four (4) types of cryptocurrency wallets, they are hardware, online, software(App) and paper wallet.

Each of these types of wallets have their pros and cons, and are therefore going to be perfect for different types of people, for different needs and preference.. Security-wise, paper wallets are seen as the best alternative, while convenience-wise, software and online ones should be your go-to options.

What Is The Best Cryptocurrency Wallet Type?

Paper and Hardware wallets still remain the best though the choice of wallet can be personal based on preference but since wallets are for safeguarding cryptocurrencies, meaning that security is of utmost importance, these two wallets remain the best since they give you full control.

Are Hardware Wallets Worth Investing In?

There is no definite answer to this question since choice of wallet is large determined by personal needs, capacity and preference, therefore it depends. Still in most cases it is worth investing in. If you’re new in cryptocurrency trading and investing, a hardware wallet might be too over board for you – it is generally considered that hardware wallets should be purchased once you have a significant amount of crypto, and want to keep it safe. If you’re an active trader, that can also dissuade the matter even further – trading-wise, software and online wallets are much more convenient.

What Are “Cold” And “Hot” Wallets?

Cold wallets are hardware devices that are able to store cryptocurrencies offline, while Hot wallets are those storage pieces of software that keep a constant connection to the internet. Safety-wise, cold wallets are considered the best option – since they are always offline, you don’t need to worry about some sort of a hacker stealing all of your cryptocurrency assets.

Which Is Easier To Use Trezor Model T Or Ledger Nano X?

The Trezor Model T earns slightly higher ratings for ease of use over the Ledger Nano X due to the color touchscreen. Although the Nano X is slightly larger than the Nano S, with a bit more spacing between the physical buttons, the screen is still harder to read than the Trezor.

Has Ledger Been Hacked?

Yes, In July 2020, the cryptocurrency hardware wallet manufacturer known as Ledger was hacked. About 272,000 customers were affected by the data breach with approximately one million email addresses leaked. Personal information such as postal addresses and first and last names were exposed, the company stated.

Has Trezor been hacked?

No, though a white-hat hacker had in January 2022 gone on Youtube to show how he was able to recover his cryptocurrency assets worth over $2 million from his wallet when he lost the PIN by hacking the Trezor One.

Does Trezor Support More Coins Than Ledger?

No.

Trezor Model T currently support about 1,816 coins, whereas Ledger Nano X supports about 5,500 coins currently.

The Proven Ways Even Beginners Make Money With Cryptocurrency

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hilibon bitcoin cryptocurrency

It is not a news anymore that lives are been changed financially through cryptocurrency. You possibly know someone directly or indirectly whose live changed through cryptocurrency. That may be what motivated you to get started. Whatever the good reason is, I will be discussing about how to make money with cryptocurrency even as beginners.

Can Cryptocurrency Make You Rich?

The success stories of people are out there. You may have heard some of these stories from ‘the horse’s mouth’ but somehow you keep asking ‘can cryptocurrency make you rich’. The simple answer is yes, cryptocurrency can make you rich even as a beginner in the cryptocurrency market but there is a very important thing you must know about crypto. That is:

Cryptocurrency Is Volatile

Cryptocurrency is highly volatile, the price fluctuates because it is influenced by supply and demand, investor and user sentiments, government regulations, and media hype. All of these factors work together to create price volatility. This volatility is the main factor that makes it possible to achieve financial success with cryptocurrency within a short time but just as cryptocurrency can make your life better, it can also make it worse, if care is not taken. [Here Is Why Cryptocurrencies Are So Volatile]

Can You Live Off Cryptocurrency?

Yes, you can live a comfortable life off cryptocurrency. To make money with cryptocurrency and achieve financial stability even as a beginner is one of the great realities about crypto.

But to achieve this you need the right information and skills. You can checkout this article [Can You Make A Living From Trading Cryptocurrencies?] In this article, I treated this question in depth.

How Do You Make Money With Cryptocurrency?

I have discussed some of the good reasons why getting into cryptocurrency market is a beautiful way to financial freedom and some of the realities of the market you should bear in mind. So now I will address the question ‘how do you make money with crypto?’.

There are different ways you can make money with cryptocurrency and I will discussion some of these ways here but if you want to read more elaborate explanation, then you can read [Ways to Make Money With Cryptocurrency].

5 Strategies For Making Money With Cryptocurrency

  • Investing in projects early
  • Holding
  • Trading
  • Staking and Lending
  • Mining

Investing In A Project Early

This is the easiest ways to make money with cryptocurrency even for beginners. This entails discovering projects (coins) in their early stages. Bitcoin (BTC), Ethereum (ETH), Binance coin (BNB) started of selling for cents or a few dollars.

Bitcoin (BTC) was launched at a zero price in 2009. On July 17, 2010, its price jumped to $.09.

make money cryptocurrency new coins

Ethereum (ETH) was launched In August 2014 at the price of $0.31 per coin.

Binance Coin (BNB) was launched was launched through an Initial Coin Offering (or ICO) that took place from June 26th to July 3rd, 2017. According to coinmarketcap BNB sold for $0.1078 on 29th July 2017.

We have seen this scenario play out over and again on and the good news is that it is still happening and will continue to happen as long as new cryptocurrency projects are been created.

Holding

If you’re not a technical person. You don’t like seeing those lines in the charts, this is a another way you can make money with cryptocurrency.

Holding is an investment strategy in cryptocurrency known are buy-and-hold, whereby you buy a coin and just hold it for a while before selling. This is a long term strategy and the best for beginners in cryptocurrency because it is not capital intensive, you can start with any amount you have.

This investment strategy demands that you discover cryptocurrency coins that are with stable projects. This increases the chances of the coin staying around for the long term and the chances that it will be profitable in the future.  This is because, having a solid projects linked to it shows that the team behind it are dedicated.

And in holding, you don’t need to worry about short-term price fluctuations – especially when investing in solid and established cryptocurrencies. In the chart below, in August 2021, AXS was priced at $77.88, but it started dropping and sold for $51.29 in September 2021.

make money with cryptocurrency chart

Had you panicked and sold your AXS tokens, you would have sold in loss of approximately 34%. Nevertheless, had you engaged in HODLing – by October of the same year, AXS was trading at nearly $136.25 per token. That is approximately a 75% increase from $77.88.  This is just one example of many. The key point here is that the most effective way to invest in cryptocurrency and make money is through a long-term strategy.

Day Trading

This is the most popular way people make money with cryptocurrency. Unlike holding, staking that are profitable in long term, Day trading take daily advantage of the volatile nature of cryptocurrency.

To be a good day trader you need to posses at least the basic understanding of the market operation and to have the proper analytical and technical skills.

binance home page cryptocurrency

With this skills you will analyze the chart for the market performance and the possible future move, so that you can arrive at an accurate predictions for your trade. Day traders lookout for short term opportunities in the market and capitalizing on the volatility of cryptocurrency to make money.

Experienced traders would hardly hold onto a trade for more than 24 hours. The idea is to enter multiple trades, then make small fraction of their trade capital in profit but then more frequently.

When trading cryptocurrencies, you can enter a long or short position trade based on your predictions from analyzing the market. This shows that you can trade cryptocurrency in any direction of the market and make profit.

Staking And Interest

Cryptocurrency staking is one of the ways to earn passive income with cryptocurrency. Staking cryptocurrency coin means locking your coin away in a proof-of-stake blockchain network for a certain duration.

cryptocurrency Staking And Interest

When you stake your cryptocurrency coin you are contributing to the blockchain through the proof-of-stake network because the network uses your coins to validate transactions and in return you receive rewards.

In a simpler terms you are lending your cryptocurrency coins to the network. Staking enables the network to manage security. The Proof-of-Stake algorithm appoints the transaction validator depending on the number of coins you have staked.

Mining

The final method to consider from our list of some of the strategies for making money with cryptocurrency is through mining.

When you mine a cryptocurrency like bitcoin, you are rewarded with new coins. To be capable of mining a cryptocurrency, you need technical expertise and upfront investment in specialized hardware.

cryptocurrency Mining

Mining is one of the oldest ways to earn money with cryptocurrencies. And an important part of the consensus mechanism of Proof of Work (PoW), which is the process of validating transactions and securing a PoW network.

There are many cryptocurrency projects that need miners and in many cases, competition is slim on the ground. Overall, you just need to ensure that the rewards from the mining are worth more than you what you invested.