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Stocks are getting off to a weak start on Wall Street led by drops in technology and health care companies.
Chipmaker Nvidia slumped 2.2% in early trading Wednesday and drugmaker Bristol-Myers Squibb gave up 1.6%.
Canada Goose Holdings, which makes high-end winter coats, plummeted 21.3% after giving…
Altran Technologies S.A. (EPA:ALT) Investors Should Think About This Before Buying It For Its DividendMay 18, 2019 | dailybusinessnews
U.S. stock futures and Asian shares fell on Monday on growing anxiety over whether the United States and China will be able to salvage a trade deal, after Washington sharply hiked tariffs and Beijing vowed to retaliate. The United States and China appeared at a deadlock over trade negotiations on Sunday as Washington demanded promises of concrete changes to Chinese law and Beijing said it would not swallow any “bitter fruit” that harmed its interests.
Mike Walsh was busy trying to manage his doomed software company in 2009 when he agreed to take a 15 minute meeting with a little-known figure in the tech industry named Ryan Graves.
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Rising cryptocurrency markets may once again arouse the interest of new investors. The crypto space has its specifics and it takes some effort to acquaint oneself with the terminology. Decryptionary has been created to impart the basic information you need to start understanding Bitcoin better.
Also read: How to Generate QR Codes for Crypto Payments
Get a Handle on Crypto Buzzwords
Decryptionary provides concise definitions of many terms that are widely used in the crypto industry. You have the option to look up a specific word or phrase relating to cryptocurrencies and distributed ledgers using the site’s search bar. Alternatively, you can access the full contents of the online dictionary where entries are listed by first letter or number.
You’ll be able to understand the meaning of terms such as blockchain explorer, total supply, peer to peer, proof of work, public key, decentralized exchange, escrow, zero confirmation, and many more. If you can’t find a word you are searching for, you can also suggest new entries.
The website offers thematic word lists as well. For example, the “25 Common Cryptocurrency Words You Should Know” page has been prepared for beginners and it explains mining, hashing, wallets, keys, and addresses. There’s also the “20 Blockchain Words You Should Know” list which contains definitions for block, sidechain, fork, and node.
Decryptionary doesn’t stop there. If you want to dive deeper into digital asset trading, it will help you learn the characteristic slang including words like hodl, fud, fomo, and jomo. Mooning, flippening, shilling and shitcoin are some of the other notable entries. The platform explains what a bull trap is as well as what’s common between the Byzantine generals problem and Bitcoin.
If you have more questions, you can also refer to Bitcoin.com’s Knowledge Base which provides an extensive library of Bitcoin resources. There you’ll find out how to get started with cryptocurrencies by downloading a wallet and buying your first bitcoin cash. The portal will also help you choose a cryptocurrency exchange, avoid fraud, set up cold storage, understand bitcoin mining, and much more.
Can you recommend other sources of basic information about the crypto space? Let us know in the comments section below.
Disclaimer: Readers should do their own due diligence before taking any actions related to third party companies or any of their affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any third party content, goods or services mentioned in this article.
Images courtesy of Shutterstock, Decryptionary.
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Andrew Henderson is the founder of Nomad Capitalist, a company which helps people from around the world move to different countries while minimizing their tax obligations. In recent years the company has created plans for dozens of people who made their wealth from the cryptocurrency sector, including business owners, traders, investors and consultants. News.Bitcoin.com interviewed Henderson to learn about the process and specifically how it relates to U.S. citizenship.
US Citizenship Is Costly and Toxic
What makes the plight of Americans stand out is that the U.S. applies its own taxation system on its citizens no matter where in the world they live, which includes its ever-changing rules in on cryptocurrencies. This is in contrast to most countries where taxes are linked to residency.
The Trump tax reform made the taxation of cryptocurrencies worse according to Henderson. So if you’re an American living overseas with crypto income you can’t pay zero taxes. “Basically, there is no way to escape tax if you’re in crypto. Even if you live outside of the US 365 days a year, you will probably pay a substantial amount of tax of your crypto,” he lamented. Obviously, some people in this situation will just not report their cryptocurrency earnings to the IRS, but that opens them up to legal problems.
Beyond the tax issues, U.S. citizens are also facing limitations on who they can work with due to companies’ fears of dealing with American regulations. In the crypto space there were many ICOs, for example, that banned U.S. citizens from investing, but some banks around the world are also banning U.S. citizens from opening accounts with them. “There’s a lot of financial institutions around the world that view US citizens as toxic, and I think that the US may make regulations more difficult for people in the future,” Henderson explained.
Where Do They Go and How Long Does It Take?
For people who want to sell as little of their crypto as possible, it makes sense to go with a citizenship by investment program, according to Henderson. “The Caribbean is generally good enough so there’s no need to go to Malta. Dominica, St Lucia, Antigua, are basically the cheapest ones. There are minor differences between them,” he explained. “There are many different passport options but I think that if you have any decent amount of crypto you should do citizenship by investment because you get the immediate effects and you reduce your opportunity cost.”
As for cryptocurrency investors selecting a new residency, it’s all over the map. Some people even become perpetual travelers, taking a Dominican passport and then traveling around the world. However, people generally want to go to a country that is tax-friendly. “What I recommend is the trifecta approach. My fiancé and I live in Malaysia for four months, we live in Montenegro for four months, four months somewhere else,” Henderson gave as an example.
People can get citizenship by investment, passport in hand, in about five to six months depending on how organized they are with the paperwork according to Henderson. His company’s cases process a little faster than people who do it on their own because Nomad Capitalist know how to fill out the large amount of paperwork involved. Going through naturalization can take two to five years.
How Much Do You Need to Make It Worth Renouncing Your US Citizenship?
Asked how much a person needs to have to make it worth the investment, Henderson replied: “Look at it as an insurance policy. How much you need to have before you take out more car insurance limit to avoid being sued if you hit somebody? It’s a personal decision. I think if you have a million dollars, you should have a second passport. If you don’t want to renounce to avoid the tax issues, you should at least find a country where you can work towards the second passport through naturalization.”
He also recommended people try applying for two or three of those countries to make sure that one or two come through. And if you’re paying $ 100K in tax, buying citizenship by investment will give you a 100% return on investment according to Henderson, in addition to freeing you from the system.
“The equation is different for everybody, there are some people who would say ‘Listen, I don’t care if I can save 10 million dollars, my US citizenship is worth more.’ No doubt, there are people in China, etc. who would pay 10 million dollars for US citizenship. That’s a personal discussion. My goal is: if I can make an ROI in six months or less, it’s worth it. If you look how much you’re going to save in the long run, you save the money every year, [and] you’re freeing yourself from what I call ‘a psycho ex-girlfriend’,” Henderson opined.
As for client reactions to being told they should renounce their citizenship, Henderson said it gave him a lesson on human behavior. “People, especially men, it’s hard for men to be vulnerable. They say ‘Yeah, I’ll renounce! Yeah, I’ll buy a passport!’ and then when they talk with the rest of the team who is about to help them proceed with the plan we hear: ‘Well, I’m concerned about it…’ When we say that renouncing is the best thing, most people get concerns or they delay the process. The problem is, you don’t know how it works until you do it, and once you do it – you can’t undo it.”
Would you consider renouncing your citizenship? Share your thoughts in the comments section below.
Images courtesy of Shutterstock.
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As the global recession deepened in 2008, Tom Barrack was in his element. Over the course of two decades, the chief executive of Los Angeles-based Colony Capital had carved out a reputation as a real estate investor who placed winning bets when others ran scared. So, at the bidding of a longtime…
A new study reveals surging investments in cryptocurrencies by institutional investors, with almost half of them viewing crypto assets as having a place in their portfolios. “Institutional investors are overwhelmingly favorable about the appealing characteristics of digital assets,” Fidelity Investments described.
Institutional Investors See Crypto’s Potential
Fidelity Investments released the results of its new survey and study on institutional investors’ crypto asset investment strategies on Thursday. Noting a significant rise in interest among intermediaries and institutions, the company wrote:
Institutional engagement is here … institutional investors are overwhelmingly favorable about the appealing characteristics of digital assets. Nearly seven in ten respondents cited certain characteristics of digital assets as appealing.
The survey finds 47% of respondents “appreciate that digital assets are an innovative technology play” while 46% are attracted to their low correlation to other assets. Meanwhile, 27% like their high upside potential and 25% favor their decentralization aspect. Among respondents, financial advisors (74%) and family offices (80%) view the characteristics of digital assets most favorably.
The survey was conducted between Nov. 26 last year and Feb. 8 by Greenwich Associates on behalf of the Fidelity Center for Applied Technology. Participants were 441 U.S. institutional investors, including pensions, family offices, crypto and traditional hedge funds, financial advisors, endowments and foundations.
Fidelity Investments is one of the world’s largest financial services providers. The company claims to have more than $ 7.3 trillion in client assets under administration. Its subsidiary, Fidelity Digital Assets, offers a platform for securing, trading and supporting digital assets.
Fidelity’s study shows that “Institutional investors are finding appeal in digital assets and many are looking to invest more in digital assets over the next five years,” elaborating:
About 22% of institutional investors already have some exposure to digital assets, with most investments having been made within the past three years … Four in ten respondents say they are open to future investments in digital assets over the next five years.
Out of all respondents, 47% view digital assets as having a place in their investment portfolios. 32% see them as part of an alternative asset class, while 15% believe they have their own independent asset class. Among the 47%, 72% would buy investment products that hold digital assets, 57% would buy crypto assets directly, and 57% would buy investment products that hold crypto companies.
“We’ve seen a maturation of interest in digital assets from early adopters, like crypto hedge funds, to traditional institutional investors like family offices and endowments,” Tom Jessop, President of Fidelity Digital Assets, detailed. “More institutional investors are engaging with digital assets, either directly or through service providers.” The survey also noted:
Among the obstacles to digital asset investments cited by respondents were price volatility, lack of clarity around regulation, the limited track record and lack of fundamentals.
Funds and Endowments
A report by Morgan Stanley published in October last year reveals a growing number of crypto funds and crypto assets under management. According to Cryptofundresearch, an estimated 220 crypto funds were created last year and crypto assets under management amounted to approximately $ 7.11 billion in July.
In addition, according to a survey of 150 endowments conducted by Global Custodian, The Trade Crypto and Bitgo in the fourth quarter of last year, 94% stated that they invested in crypto assets either directly or through a fund. Jonathan Watkins, Managing Editor of Global Custodian and The Trade Crypto, commented:
Despite the widely-publicised concerns around regulation, custody and liquidity, endowments have been factoring crypto-related investments into their allocations, and very few are showing intentions of stepping away.
Do you think institutional investors should hold cryptocurrencies in their portfolios? Let us know in the comments section below.
Images courtesy of Shutterstock and Morgan Stanley.
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