All The Ways To Invest In Virtual Coins

Bitcoin is the world's first digital currency. After that, 400 virtual coins have sprung up, but it is still the leader, with 80% of the total volume of digital currencies. Bitcoin is a real revolution in the currency market, although there are still many open questions about it - renowned experts claim on the one hand that it is a legitimate and economic device that will change the perception that we see the existing financial system; Others argue that he has no right to exist.

It seems that the truth is somewhere in the middle - until it is established as an official product accepted by all the financial systems in the world, it will undergo technological changes and regulators, but in the meantime, there is no dispute that this is the best investment of recent years - the Bitcoin since its establishment in 2009 has produced tens of thousands of percent, . So is it a bubble?

If you decide to invest in Bitcoin, it turns out that there are several possibilities. It is possible to invest directly - buying and buying the currency itself in an internet trading arena. In the first stage you should open a private wallet and there are several sites through which you can open a virtual wallet (along with an application) including Blockchain.com. Next, you create an account in one of the virtual currency exchanges, including poloniex, bitfinex, kraken, and then you can buy and sell Bitcoin and transfer it to your e-wallet / e-wallet account.

It is important to know the arena and understand its information security capability, and its popularity. In the past there have been frequent burglaries, although they have decreased, but still exist.

More about Bitcoin

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While you slept: The Bitcoin jumped overnight to an annual peak of about $ 8,900.
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A basket fund on the Bitcoin

An indirect investment in Bitcoin is the purchase of options, Futures contracts. This exists in various trading arenas and it is also expected to enter the arena of forex and major contracts. This way can be dangerous if you leverage the investment, so here double caution is required.

Besides, you can buy Bitcoin with ATMs. In the meantime there is one ATM in Ahuzat Bayit. There you can buy Bitkons, and by Sunday evening there is a conference of investors and believers in the virtual currency - exchange of opinions, updates on developments and more.

The way it seems most convenient for investors to be exposed to Bitcoin is through a Bitcoin Investment Trust (GBTC) - the most convenient investment for most people, just as Mania, a mutual fund, buys another stock on the American stock exchange, The bank's adviser wants to make a deal to buy a basket fund on the Bitcoin, and the fund aims to achieve a yield similar to that of the Bitcoin, but it is not a guarantee, but usually it is close to it. And remember that the Bitcoin went up a lot, is one of the best investments of the last couple of years, and it's not at all certain that what's coming up Ic cost!

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Is the investment taxable?

Suppose you traded in Bitcoin and earned - is it taxable in Israel? This is an interesting question. In practice, many do not report these transactions and do not pay taxes, but according to the Tax Authority's draft, the virtual currencies, including Bitcoin, do not constitute a "currency" for the purpose of the Income Tax Ordinance, (As opposed to currency activity in a personal / private account). This draft has very large implications for the currency user community, since a large part of them are buying a currency, not a currency. Speculative investment, not stocks, some of them also uses the currency for current needs - restaurant seating, and so on '. So it's not just scoring.

Incidentally, the position of the Tax Authority is not legislation, and it is not backed by case law (there is simply no ruling on the matter), but it is of course important and is the guiding principle for investment activity in Bitcoin.

Perhaps before you are interested in trading and investing in Bitcoin, you should understand the currency trading (dollar, euro, pound, etc.) This trading is the basis for trading in Bitcoin, and it may not be as volatile as the Bitcoin, but it is also dangerous (if there is leverage) It's full of adrenalin.