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GiveSafely.io Launches With Support for Various Accredited Charities

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GiveSafely.io, a blockchain-based donation platform, has launched today, according to a press release. The platform is supporting the following charities as of its launch:

  • Save the Children
  • Easterseals
  • Physicians Committee for Responsible Medicine
  • Population Media Center
  • RedRover
  • Wild Animal Sanctuary
  • Cure Alzheimer’s Fund
  • World Emergency Relief

Each listed charity is accredited by the BBB Wise Giving Alliance.

Essentially, GiveSafely.io exists as a space for donators to safely give money to their favorite charities, while protecting their information with blockchain technology. Built on the Ardor blockchain, those who do share their information will be rewarded with something called TrustTokens, the release notes. These tokens can be redeemed for all sorts of rewards and gifts.

Speaking on the matter is the CEO of the BBB Wise Giving Alliance, Art Taylor, who said:

“This platform will provide new forms of engagement with Millennials and Generation Z which we believe are critical audiences for the future growth of philanthropy. Even prior to the COVID-19 pandemic, charities were facing a wide variety of challenges in how their traditional fundraising model operated, we believe this new donation platform will help strengthen donor trust in charities while also providing a bridge to younger donors seeking new forms of engagement.”

Source: https://insidebitcoins.com/news/givesafely-io-launches-with-support-for-various-accredited-charities

Blockchain

MixMarvel Integrates Polygon to Improve Gaming Experience

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Polygon, an Ethereum scaling platform, recently MixMarvel, a blockchain game publishing platform and content community, has completed its integration with Polygon to enhance its immersive gaming experiences and provide play-to-earn opportunities. The two companies are also co-developing the most robust content platform in the NFT space.

MixMarvel will use Polygon to distribute its blockchain games, including its latest project, LeCube. Polygon will also help to create a decentralized platform for developers that optimizes resource allocation, which, in turn, will help incubate the creation of new NFT content.

The integration will allow Polygon and MixMarvel to use their respective expertise to create a comprehensive decentralized game distribution strategy in IP access, brand authorization, content creation, product distribution, and community operations.

MixMarvel will also join Polygon Studios – an NFT-centric gaming hub designed to facilitate access for web 2.0 game developers to integrate web 3.0 elements and NFTs into their platforms – to deliver immersive, play-to-earn gaming experiences to millions of players and launch customized digital collectables.

“MixMarvel is a great addition to our booming gaming and NFT ecosystem,” Polygon’s head of Gaming and NFTs Shreyansh Singh said. “We’re thrilled MixMarvel has chosen to take advantage of Polygon’s fast, easy, and economical technology to scale user adoption and make NFTs accessible to everyone.

“We also look forward to completing the development of our robust NFT content platform in collaboration with MixMarvel. It’s going to be a game-changer in the NFT space.”

“With Polygon as the backbone of our games, we’ll be able to explore exciting new opportunities for NFTs through Polygon Studios – without having to worry about high energy usage, exorbitant gas fees, and slow speeds,” MixMarvel co-founder and CSO Mary Ma said. “We’ll also be able to ramp up our growth by reaching millions of new players.”

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Source: https://www.crowdfundinsider.com/2021/09/180509-mixmarvel-integrates-polygon-to-improve-gaming-experience/

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Blockchain

MixMarvel Integrates Polygon to Improve Gaming Experience

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on

Polygon, an Ethereum scaling platform, recently MixMarvel, a blockchain game publishing platform and content community, has completed its integration with Polygon to enhance its immersive gaming experiences and provide play-to-earn opportunities. The two companies are also co-developing the most robust content platform in the NFT space.

MixMarvel will use Polygon to distribute its blockchain games, including its latest project, LeCube. Polygon will also help to create a decentralized platform for developers that optimizes resource allocation, which, in turn, will help incubate the creation of new NFT content.

The integration will allow Polygon and MixMarvel to use their respective expertise to create a comprehensive decentralized game distribution strategy in IP access, brand authorization, content creation, product distribution, and community operations.

MixMarvel will also join Polygon Studios – an NFT-centric gaming hub designed to facilitate access for web 2.0 game developers to integrate web 3.0 elements and NFTs into their platforms – to deliver immersive, play-to-earn gaming experiences to millions of players and launch customized digital collectables.

“MixMarvel is a great addition to our booming gaming and NFT ecosystem,” Polygon’s head of Gaming and NFTs Shreyansh Singh said. “We’re thrilled MixMarvel has chosen to take advantage of Polygon’s fast, easy, and economical technology to scale user adoption and make NFTs accessible to everyone.

“We also look forward to completing the development of our robust NFT content platform in collaboration with MixMarvel. It’s going to be a game-changer in the NFT space.”

“With Polygon as the backbone of our games, we’ll be able to explore exciting new opportunities for NFTs through Polygon Studios – without having to worry about high energy usage, exorbitant gas fees, and slow speeds,” MixMarvel co-founder and CSO Mary Ma said. “We’ll also be able to ramp up our growth by reaching millions of new players.”

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.crowdfundinsider.com/2021/09/180509-mixmarvel-integrates-polygon-to-improve-gaming-experience/

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Blockchain

Shiba Inu Price Racing Ahead Of The Market, Primed To Clinch Massive Gains

shibprice

The post Shiba Inu Price Racing Ahead Of The Market, Primed To Clinch Massive Gains appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

Shiba Inu Price is Competing Against Big Players?  The Ethereum based token has seen an $870 million pump in the ecosystem as the coin goes live on CoinBase. The Shiba Inu price is $0.000008391, while the 24-hours trading volume is up by 1220.52%. And the return on investment is jaw-dropping 518470.09%. The market cap is …

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Shiba Inu Price is Competing Against Big Players?

 The Ethereum based token has seen an $870 million pump in the ecosystem as the coin goes live on CoinBase. The Shiba Inu price is $0.000008391, while the 24-hours trading volume is up by 1220.52%. And the return on investment is jaw-dropping 518470.09%. The market cap is at $3.4 billion, and the trading volume is at $2.5 billion at the press time.

Shiba Inu’s website invites dog-inspired creators to bring up the movement termed as “Artistic Shiba Movement”. The makers aim to bring their community into the NFT space. With the growing interests of NFTs, we can expect the canine-based coin to prosper.

Also Read: Investors Making Huge ADA Purchases Prior to Cardano Summit! Will ADA Hit $10?

Avalanche, The Next Solana?

Substantial reports suggest that Avalanche is the fastest smart contracts platform in the blockchain industry, in terms of time-to-finality. The ecosystem reportedly has the most validators, securing the platform using the Proof-of-Stake method. 

The native token of the platform is AVAX, the price is $62.50, while the 24-hour volume is up by 54.52%, the coin hit its ATH of $68.84. The main reason behind the surge is an investment of about $230 million in the platform by Polychain Capital, Three Arrows Capital, and Dragonfly Capital. The statistics are from press time. The investments could help De-Fi of the platform, similar to what we have seen with SOL.

Avalanche Mainnet was launched on September 21, 2020. The platform has grown considerably since then with securing over 200 individual projects, 1000+ individual block-producing validators, to name a few. The return on investment by the digital asset is over 12000% at press time.

Summing up, analysts and traders are optimistic about Avalanche in the long run as a worthy Altcoin to follow SOL’s trend. Altcoins are leaving no stones unturned in the rally towards supremacy. While sections of netizens believe the Shiba Inu to perform well in the NFT space.

Also Read: With New Ventures On Cards AVAX, FTT, ATOM Price Could Gain Massive Profits!

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
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Source: https://coinpedia.org/price-analysis/shiba-inu-price-racing-ahead-of-the-market/

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Blockchain

Guide To Crypto Taxes: How Do Crypto Taxes Work?

The post Guide To Crypto Taxes: How Do Crypto Taxes Work? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

With the expansion of cryptocurrency throughout the globe, more and more investors are diving into the crypto space. Also, as the IRS brings out new tax compliances, it is very easy for investors to get confused. So a clear understanding of crypto taxes becomes all the more important. Taxability Of Cryptocurrency In 2014, the Internal …

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With the expansion of cryptocurrency throughout the globe, more and more investors are diving into the crypto space. Also, as the IRS brings out new tax compliances, it is very easy for investors to get confused. So a clear understanding of crypto taxes becomes all the more important.

Taxability Of Cryptocurrency

In 2014, the Internal Revenue Service (IRS), in their Notice 2014-21, made a decision that Bitcoin and other cryptocurrencies will be treated as an asset similar to ‘property’, rather than currency. This simply means that similar to traditional stocks and assets, even crypto earning will qualify as capital gains and income gains, depending on the activities these digital assets undergo.

What Are Some Of The Taxable Events In The United States?

As mentioned above, some of the activities involving digital assets are considered capital gains, whereas some are considered as income.

Capital Gains Tax

Capital gain tax is the federal fee you pay on the profit that you have earned on an asset whose value has appreciated over the holding period. Profits on cryptocurrency can be earned in the following taxable events:

  • Sell cryptocurrency (Bitcoin, Ethereum, Ripple, etc.) for fiat currency (Dollars, Euro, Yen, etc.)
  • Trading one crypto for another, either P2P directly or on an exchange
  • Purchasing goods and services using cryptocurrency

Income Tax

When an individual earns an income from cryptocurrency. Some of the taxable events under income tax are:

  • Receive crypto via airdrops
  • Crypto earnings from DeFi lending
  • Bug bounties received for carrying out work
  • Earnings from stakings and liquidity pools
  • Block rewards and transaction fees from crypto mining

How Much Tax Do You Have To Pay?

The next important question is how much tax do you have to pay in a financial year. The answer to this question depends on two factors:

  1. How long have you held your crypto assets or your holding period?
  2. Which income tax bracket do you fall under?

The crypto holding period is calculated from the next day of your cryptocurrency assets purchase or you make a cryptocurrency transaction, and it continues till the day you send, sell, trade, or exchange your capital asset. This is what decides whether your gains are short-term or long-term capital gains and losses.

Short-Term Capital Gains

Your crypto assets will be considered as taxable ordinary income if you retain them for a year or less, that is, 365 days or fewer. As a result, this income will be considered a short-term capital gain.

At present, the short-term capital gains tax rate ranges from 10% to 37% depending on the income of the household.

Long-Term Capital Gains

When your crypto assets have been held for more than a year or 366 days, it will qualify as a long-term capital gain.

At present, the long-term capital gains tax rate ranges from 0% to 20% depending on the income of the household.

What If You Incur Losses?

If you incur any loss from selling, trading, or exchanging your crypto assets, you can offset your capital gains with your crypto losses. Since the Internal Revenue Service (IRS) considers cryptocurrency as capital assets, you can deduct up to $3,000 in a year from your ordinary income. Any further losses will be carried forward to the next year. However, if you are married and filing a separate tax return, $1,500 will be deducted from your ordinary income.

In this aspect, it is important to note that you have to report your loss on a specific asset class to be eligible for a capital gains deduction.

The Bottom Line: How To Prepare For The Tax Season?

Now that we have discussed everything about how crypto taxes work, we must understand how to prepare ourselves for the tax season. 

Here are some of the important things you need to know when preparing your crypto taxes:

  • Record all your crypto activities: You must keep a detailed record of all the crypto transactions you make, including buying, trading, airdrops, and every taxable event as mentioned in the list above.
  • Calculate your capital gains and losses: Now that you have a record of all your crypto activities, you can manually calculate your gains and losses, or take the help of a number of services and tax calculators to estimate your taxes.
  • Filling your tax documents and forms: There are various tax forms for various types of transactions. For reporting your cryptocurrency capital gains or losses you have to file Form 8949 and attach it to Schedule D form, which is the primary tax form for overall taxes. 

For crypto income taxes you must file Schedule 1 Form 1040 and in case of self-employed crypto earning, you must add Schedule C.

  • Submit forms and pay taxes: Now that you have calculated and filed all your tax documents, all you need to do is submit these forms and pay your taxes on time, unless you want to file for an extension. In that case, you must file for an extension before October 15, 2021.

Calculation and preparation of crypto taxes can be a complicated process. You can take the help of a number of crypto tax-related services, such as Zenledger, to help you easily calculate your crypto taxes. These crypto-tax services will also help you find options for tax-loss harvesting.

FAQs

  1. Should I pay taxes on crypto mining?

Yes, crypto mining is also taxable on the basis of the crypto’s fair market value (FMV) at the time of mining. 

  1. Are crypto donations taxable?

Crypto donations and gifts are non-taxable as per U.S tax laws. However, there are tax implications for donations above $15,000.

  1. What are the tax rates on short-term and long-term capital gains?

At present, the short-term capital gains tax rate ranges from 10% to 37% and the long-term capital gains tax rate ranges from 0% to 20%, depending on the income of the household.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
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Source: https://coinpedia.org/guest-post/how-do-crypto-taxes-work/

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