Random question, but say you put in around 10k to cryptos and take out 40k for example a few months later after a good few months, how much of that 40k would you receive in the end once you've paid tax on it?
Random question, but say you put in around 10k to cryptos and take out 40k for example a few months later after a good few months, how much of that 40k would you receive in the end once you've paid tax on it?
Depends on your other earnings as well, but say you earn £30k pa you'd have to pay £1.8k in CGT. £40k pa would be around £2.5k CGT. Top end would be around 3.5k if you earn 51k pa. So on 30k profit, minimum would be 26.5k take home.
Must thank you all for highlighting Zil. Went in last month and it’s landed a healthy profit for now. Would love for it just to get to £0.30p to be honest
What's the current zil top end expectations for the year now ? Trying to leave mine staked until October.
If all goes well, I'll be unstaking early September, flogging the lot two weeks later for $1.20 and contemplating retiring @ 36!
Bear market hits in Q3, give it a year then go again.
Not gonna short the market all the way back down again?
Actually meant Q4 but either way, depends on how much the rest of my portfolio is worth.
I should have around 200 GZIL by then which will be worth a good amount. However, I really want to HODL those for a good few years as they are not expected to hit total max supply (722K) and minting ends in October. Pillar coming soon as well which will burn them up.
What's the current zil top end expectations for the year now ? Trying to leave mine staked until October.
If all goes well, I'll be unstaking early September, flogging the lot two weeks later for $1.20 and contemplating retiring @ 36!
Bear market hits in Q3, give it a year then go again.
Not gonna short the market all the way back down again?
Actually meant Q4 but either way, depends on how much the rest of my portfolio is worth.
I should have around 200 GZIL by then which will be worth a good amount. However, I really want to HODL those for a good few years as they are not expected to hit total max supply (722K) and minting ends in October. Pillar coming soon as well which will burn them up.
Yeah you're definitely in a completely different league than me 😂.
What's the current zil top end expectations for the year now ? Trying to leave mine staked until October.
If all goes well, I'll be unstaking early September, flogging the lot two weeks later for $1.20 and contemplating retiring @ 36!
Bear market hits in Q3, give it a year then go again.
Not gonna short the market all the way back down again?
Actually meant Q4 but either way, depends on how much the rest of my portfolio is worth.
I should have around 200 GZIL by then which will be worth a good amount. However, I really want to HODL those for a good few years as they are not expected to hit total max supply (722K) and minting ends in October. Pillar coming soon as well which will burn them up.
Yeah you're definitely in a completely different league than me 😂.
I picked up most of my ZIL when it was sub half a cent, that's the biggest reason I have so many. Caught it at the perfect time (more luck than judgement).
Staking has added a lot and dabbled in liquidity mining for a month which gave me a great return.
As a relative Crypto newbie, currently holding bags in BTC, ETH, ZIL, ADA, DOT. (Thinking of investing in ALGO as everyone on reddit seems to talk about it)
When the next bear market hits what should I be looking to do. My plan is to HODL these long term so do I just continue to DCA into them, or do I look to convert to a stablecoin, or do I take profit and ride it out?
As a relative Crypto newbie, currently holding bags in BTC, ETH, ZIL, ADA, DOT. (Thinking of investing in ALGO as everyone on reddit seems to talk about it)
When the next bear market hits what should I be looking to do. My plan is to HODL these long term so do I just continue to DCA into them, or do I look to convert to a stablecoin, or do I take profit and ride it out?
I wouldnt just sit on it... last time bear market hit the vast majority of alts were 90% down from highs... I dont think it will be that bad this time around, but if youre wanting to hold long-term, if it really starts going tits up I would be going into tether and then trying to re-enter as low as possible
As a relative Crypto newbie, currently holding bags in BTC, ETH, ZIL, ADA, DOT. (Thinking of investing in ALGO as everyone on reddit seems to talk about it)
When the next bear market hits what should I be looking to do. My plan is to HODL these long term so do I just continue to DCA into them, or do I look to convert to a stablecoin, or do I take profit and ride it out?
I wouldnt just sit on it... last time bear market hit the vast majority of alts were 90% down from highs... I dont think it will be that bad this time around, but if youre wanting to hold long-term, if it really starts going tits up I would be going into tether and then trying to re-enter as low as possible
Awesome, thanks.
So I have the majority of my crypto on a ledger, and my ZIL currently staked through Zillet.io. If I was worried and wanted to go into a stablecoin would the process be something like transfer all that back to Binance where I purchased it, then trade it into Tether. Or is there a better way to avoid the fees?
I'm still reeling from the the amount of BTC I lost putting it on my ledger in the first place ha ha.
As a relative Crypto newbie, currently holding bags in BTC, ETH, ZIL, ADA, DOT. (Thinking of investing in ALGO as everyone on reddit seems to talk about it)
When the next bear market hits what should I be looking to do. My plan is to HODL these long term so do I just continue to DCA into them, or do I look to convert to a stablecoin, or do I take profit and ride it out?
I wouldnt just sit on it... last time bear market hit the vast majority of alts were 90% down from highs... I dont think it will be that bad this time around, but if youre wanting to hold long-term, if it really starts going tits up I would be going into tether and then trying to re-enter as low as possible
Awesome, thanks.
So I have the majority of my crypto on a ledger, and my ZIL currently staked through Zillet.io. If I was worried and wanted to go into a stablecoin would the process be something like transfer all that back to Binance where I purchased it, then trade it into Tether. Or is there a better way to avoid the fees?
I'm still reeling from the the amount of BTC I lost putting it on my ledger in the first place ha ha.
Apologies for the newb questions.
You could go down that route. I don't think the fees would be too bad. Other option would be to get a ZilPay wallet, transfer it there and use ZilSwap to get XSGD which is the Singapore dollar stablecoin.
As a relative Crypto newbie, currently holding bags in BTC, ETH, ZIL, ADA, DOT. (Thinking of investing in ALGO as everyone on reddit seems to talk about it)
When the next bear market hits what should I be looking to do. My plan is to HODL these long term so do I just continue to DCA into them, or do I look to convert to a stablecoin, or do I take profit and ride it out?
Rotate to Stable coin and stake, you can get 10% apy on usdc lending on protocols like AAVE, these rates held up even during the huge dip black swan event last February when the pandemic hit. The dca into that (almost like a savings account) - you’ll likely outperform the market. You’ll then be in a great position to rotate back into Bitcoin when it bottoms out.
Alternatively you could look to short coins like doge that will crumble down quite significantly.
As a relative Crypto newbie, currently holding bags in BTC, ETH, ZIL, ADA, DOT. (Thinking of investing in ALGO as everyone on reddit seems to talk about it)
When the next bear market hits what should I be looking to do. My plan is to HODL these long term so do I just continue to DCA into them, or do I look to convert to a stablecoin, or do I take profit and ride it out?
I wouldnt just sit on it... last time bear market hit the vast majority of alts were 90% down from highs... I dont think it will be that bad this time around, but if youre wanting to hold long-term, if it really starts going tits up I would be going into tether and then trying to re-enter as low as possible
Awesome, thanks.
So I have the majority of my crypto on a ledger, and my ZIL currently staked through Zillet.io. If I was worried and wanted to go into a stablecoin would the process be something like transfer all that back to Binance where I purchased it, then trade it into Tether. Or is there a better way to avoid the fees?
I'm still reeling from the the amount of BTC I lost putting it on my ledger in the first place ha ha.
Apologies for the newb questions.
Yes, probably the cheapest option in terms of fees.
Regardless, probably best to find an accountant who specialises in crypto assets if you do think you're liable.
Cheeky fuckers.
its built to make trading as unprofitable as possible. That combined with outlawing uk companies to offer crypto derivatives trading makes it a hostile country for crypto. If i ever make it "big" in crypto i'll just move to somewhere like vietnam which has really friendly crypto laws and live like a king there for a bit.
Comments
$1 puts it 10bio marketcap at p20... Just behind Tron. I dont think it's undreasonable to think that is possible.
for now. Would love for it just to get to £0.30p to be honest
I should have around 200 GZIL by then which will be worth a good amount. However, I really want to HODL those for a good few years as they are not expected to hit total max supply (722K) and minting ends in October. Pillar coming soon as well which will burn them up.
Staking has added a lot and dabbled in liquidity mining for a month which gave me a great return.
Perfect retest... now send it!
As a relative Crypto newbie, currently holding bags in BTC, ETH, ZIL, ADA, DOT. (Thinking of investing in ALGO as everyone on reddit seems to talk about it)
When the next bear market hits what should I be looking to do. My plan is to HODL these long term so do I just continue to DCA into them, or do I look to convert to a stablecoin, or do I take profit and ride it out?
I wouldnt just sit on it... last time bear market hit the vast majority of alts were 90% down from highs... I dont think it will be that bad this time around, but if youre wanting to hold long-term, if it really starts going tits up I would be going into tether and then trying to re-enter as low as possible
So I have the majority of my crypto on a ledger, and my ZIL currently staked through Zillet.io. If I was worried and wanted to go into a stablecoin would the process be something like transfer all that back to Binance where I purchased it, then trade it into Tether. Or is there a better way to avoid the fees?
I'm still reeling from the the amount of BTC I lost putting it on my ledger in the first place ha ha.
Apologies for the newb questions.
Which includes trading into a stablecoin.
Regardless, probably best to find an accountant who specialises in crypto assets if you do think you're liable.
Still a laugably long way from doing that though!