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RE: Best Investment Strategies in Crypto World for 2018
Thanks for the update @dobartim. I agree with the three different investment strategies you use, although my strategies are slightly different. I have about 6 main investments where the majority of my monetary investment is, then I have Steemit and a few other places where my time is what is invested.
All together, I like to diversify as much as possible to minimise risk.
The one thing you need to consider are taxes. Governments are meeting at the World Economic Forum in Davos now and I'd be shocked if they didnt discuss cryptos, taxation, and regulation. In the US, we get taxed on every crypto trade, not just when it is converted to fiat. And if you sell within 12 months of buying, you are taxed at a higger rate, making frequent trading a much less appealing strategy.
Yes taxes are important to consider. The simplest method is to try and find an accountant who is also interested in cryptos! I do think that taxes will help to bring about mass adoption more quickly though, as people will see cryptos as more permenant when they are taxed.
Agreed. Tax laws assume longevity in the taxed asset. You better believe the government will want to defend their sources of tax revenue, making cryptos far more permanent.
That being said, I still shy away from the short term trading strategies. Day trading is stressful and not very appealing when Short Term Capital Gains tax is factored in.
Main thing is focus
I agree. Would really appreciate any feedback you have on my posts.