Crypto Investments By Betty: October 2022

Wednesday, 26 October 2022

Kraken Crypto Exchange Review

Kraken is a prominent cryptocurrency exchange that facilitates the purchase, sale, and swap of dozens of different crypto-currencies. It is a place where you can buy and sell digital currency at market prices. Still, it also gives users access to margin accounts and futures trading, two riskier products that might be handy for certain trading methods.

Its primary platform is the best entry point for inexperienced crypto traders. Kraken Pro, a cheaper active trading platform, may appeal to more professional ones who aren’t just in the bitcoin industry.

This is a detailed Kraken review, exploring the services offered and answering some of the most important questions about this crypto exchange.

Here’s a really useful review video to get things started….

How Kraken Works

Neither a savings account nor a lending product is promoted on Kraken. Users can keep their assets on the site, but they are strongly advised to back them up in a separate cryptocurrency wallet.

Kraken emphasizes that they are an exchange and not a wallet service. Nonetheless, you utilize its cold storage wallet because of the reasonable staking rates it provides. Kraken is a leading staking platform due to its extensive coin selection and generous incentives.

It’s a unified market that may be accessed through the web via a mobile app. Kraken’s margin trading, stop-order capabilities, and cryptocurrency short-sale offerings are all available to verified customers. Staking coins allows you to earn interest on uninvested cryptocurrency.

Your name, birth date, and physical address are required to create a fundamental account. There are age and background requirements (anywhere in the U.S. apart from Washington and New York).

Kraken Features

Kraken is a cryptocurrency trading platform that, in addition to being one of the first of its kind, offers a great deal of value to investors of all skill levels. The following are some of its most notable characteristics:

1. Security

Since their inception, cryptocurrencies have been prone to hacks that have resulted in the theft or loss of millions of dollars worth of coins. It would help if you didn’t risk having your cryptocurrency stolen by landing on a crypto exchange with poor cybersecurity since most hacked exchanges have refunded their customers for any lost value.

Kraken’s dedication to security is unwavering, as evidenced by the fact that it received a flawless score from the cryptocurrency exchange security review site CER. Since its trading activities began in 2013, Kraken has had no major hacking occurrences.

Not even Binance, a true industry leader on a global scale, can make that claim. However, there are reports of compromised accounts on internet discussion groups where users have complained about Kraken.

Kraken guarantees both user and platform safety, with 95% of customer deposits kept offline in cold storage locations worldwide. Its servers are protected around the clock by armed guards and video surveillance systems.

Kraken takes extra precautions to ensure the safety of your personal information by encrypting it at both the system and data levels and doing frequent vulnerability tests on its infrastructure. They were recently recognized with the CSO50 Award for their dedication to security.

2. Efficiency of Operation

Kraken’s Instant Buy platform may make it too expensive for a first excursion into cryptocurrency, but the exchange itself is free. Your account can undergo instant automated verification. Since the Pro level, which is the most thorough, requires some papers to be evaluated by hand, it might take several days to complete.

After your identity has been confirmed, you can load your account with fiat currency like U.S. dollars and begin buying cryptocurrencies.

To finance your account, you may use a credit card or a debt account, which the site supports. If you use your credit card to buy cryptocurrency, you’ll be charged 3.75 percent plus 25 cents. Trading fees for Kraken’s “Instant Buy” feature are a flat 1.5% or 0.9%, depending on the cryptocurrency being purchased.

Kraken assumes its customers have some expertise, which might be intimidating for new investors. However, the site provides helpful resources for learning about investing. Though Kraken is available to customers in the United States, its availability is limited. New York and Washington customers cannot use it at this time.

3. In-Depth Investment Opportunities

Kraken has several extra services that will appeal to more seasoned investors. The investors have access to speculative trading in addition to publicly tradable coins. It’s a high-stakes strategy that lets you use your existing investments as collateral to borrow money to make new acquisitions.

If you utilize excess, you may be able to double your profits by a factor of several. Still, you also make yourself vulnerable to margin calls, which may result in devastating losses if the market suddenly tanks.

As the federal government figures out how it will approach crypto, margin trading is less popular on currently accessible U.S. platforms. The maximum rate that can be charged for a margin loan is 0.2 percent.

Not only can you use margin trading, but you can also stake (and unstake) particular coins. You can stake several different cryptocurrencies, such as Ethereum (ETH), Cardano (ADA), and Solana (SOL). Kraken furthermore provides cryptocurrency futures trading.

Brief Description of Payment

The Kraken exchange is typical in that it charges fees to the maker and the taker of a trade. Those who regularly engage in high trade volumes receive discounts. Transaction fees for buying and selling cryptocurrencies vary amongst different cryptocurrencies. A minimum Bitcoin withdrawal fee of 0.00001 BTC applies.

Like other exchanges, Kraken’s instant buy feature will cost you a pretty penny in fees. Although the transaction fees on a debit card are high, you are allowed to use it since it does not reside in the United States.

Picking a Cryptocurrency

Kraken provides an excellent variety of cryptocurrencies for its customers. About 130 coins are listed for U.S. dealers out of a total of about 160. Bitcoin, Ethereum, and Cardano are just some renowned cryptocurrencies that fall within this category. It supports seven different fiat currencies and three stablecoins.

Is Kraken a safe place to store your cryptocurrency?

Keeping your data safe is one of Kraken’s primary goals. Since its inception in 2013, it has maintained its reputation as one of the safest places to trade cryptocurrencies since it has never been compromised. However, concerns about the safety of bitcoin exchanges have sparked much controversy. Learn more about Kraken’s security methodology below.

1. The Safekeeping of Coins: Kraken claims that 95 percent of its crypto holdings are stored offline in “cold storage” (essentially offline and protected against hacks). It has complete reserves and an independent audit of those reserves to verify their accuracy.

2. Protecting platforms and data: It constantly monitors all of its physical servers. System and data-level encryption protect sensitive information.

3. Testing for safety: The company’s in-house staff and a bug bounty program continuously test Kraken’s systems for vulnerabilities. B bug bounty schemes incentivize ethical hackers to seek and disclose vulnerabilities actively.

4. Instructional tools and measures for user safety: As stated on the Kraken website, “No amount of security on our end can make up for poor personal security.” There’s two-factor authentication, encrypted email, and locks. Furthermore, it enhances its security by instructing customers on the best practices for keeping their accounts safe.

One of Kraken’s favourite security features is the ability to assign unique two-factor authentication (2FA) credentials for various tasks, including logging in, making a deposit, or changing your password.

Providing Assistance to Clients

Live chat, phone, and email are all ways to contact Kraken’s helpful support staff, which is on hand around the clock. There was a slight hiccup when people tried to modify a setting in their account (mainly due to human error). Therefore they submitted a ticket. In a little over 20 minutes, Kraken’s support team arrived and had the issue fixed.

Customer support is excellent. However, some people have complained about the opposite. Because of hacking and difficulty persuading Kraken to release stored payments, several consumers are dissatisfied with the service.

Satisfaction of Needs

The fact that Kraken only has 2.1 ratings on Trustpilot shows that many consumers have had serious issues. Holding cash beyond the first security period and lengthy wait times for replies from customer care were the two most often cited causes of dissatisfaction.

These issues with customer support are cause for concern, but it’s crucial to weigh both positive and bad feedback when selecting a bitcoin exchange platform.

Invoicing and Collections

Kraken’s online and mobile app platforms provide extensive customer self-service for account administration. Account management may be simplified when viewed on a laptop or desktop computer with a larger screen.

Kraken’s control panel allows you to make changes to your account’s configuration, check your approval status, activate two-factor authentication, handle your API keys, and even secure your account.

Frequently Ask Questions (FAQ’s)

Some of the more frequent inquiries regarding Kraken are as follows:

Is Kraken a U.S.-based firm?

Kraken is headquartered in Golden Gate City and can be found in 48 of the 50 states.

Does Kraken offer a cryptocurrency loyalty card?

No, and no announcements regarding future cards have been made.

How much are Kraken’s margin trading costs?

The starting fee for traders using margin is 0.02%, and the rollover fee is 0.02% every four hours.

Does Kraken Accept Shiba Inu Coin?

On November 29, 2021, Kraken started accepting Shiba Inu deposits, and trading started the next day.

If you enjoyed this Kraken review then you should also check out our Gala Games review, our Koinly 2023 review our review of Tokentax and of course this review .

Via https://medium.com/@crypto_bits/kraken-crypto-exchange-review-c2b047f6e85f?source=rss-e787423ae68d------2

source https://cryptobits1.weebly.com/blog/kraken-crypto-exchange-review

Tuesday, 25 October 2022

Gala Games Review 2022Games And Coin In One Place!

Gala Games Review 2022 — Games And Coin In One Place!

Gala Games Review

Gala Games is a rapidly expanding service that caters to consumers by providing many games at once. Voting allows Founder’s Nodes to make educated decisions about the project’s future and how to allocate resources. Users can govern games in the ecosystem since they own non-fungible tokens (NFTs), which is the primary characteristic of the system.

The decentralized Gala Games ecosystem aims to throw open the floodgates and return power to the players. Because of decentralization, players not only have full control over the virtual goods they acquire while playing Gala Games but can also contribute to planning future content.

Keep reading this Gala Games review to learn more about this innovative web3 company.

How does Gala Games operate?

While the GALA token and game tokens are now kept on the Ethereum network, this will change once the Gala sidechain is live. Many users’ connections to the games and marketplace are now being powered by Gala nodes, also known as Founders Nodes. There seems to be some obscurity surrounding the details of this, though. One day, these nodes will fuel the Gala blockchain itself, currently being referred to as GYRI chain.

According to Jason Brink (aka Bitbender), the maximum number of nodes is 50,000, but every node can handle 100,000,000 transactions monthly. No one knows much about the Gala blockchain system because formal documentation hasn’t been released yet, however, the expected launch date is 31 October 2022 and they will be launching the chian with Spider Tanks being the first game.

There are about 21,000 working nodes, but only about 10,000 licenses are still available, per a conversation with Jason Brink. For 286k GALA ($85k), you can purchase a node license on the Gala Games website. Gala was introduced via a Coin Directorate film; for a short explanation, another YouTube clip suggests that node administrators may earn roughly $150 per day.

New nodes tailored to the game will be built on the original ones. These nodes pay out in-game tokens (such as TOWN coin) rather than the GALA tokens. Right now, Town Star is the only game with fully functional nodes, but more are expected for games like Spider Tanks and Mirandus. These nodes help to decentralise the Gala ecosystem by hosting the content between users rather than by a centralised entity.

Tokenomics of Gala Games

GALA coin is an ERC-20 coin with a Binance Smart Network equivalent, the BEP20 coin. You may use GALA to purchase NFTs and Founding Network licenses on their platform. GALA will likely be used as a payment method for Gala sidechain transactions.

While the Gala Games token economy is still shrouded in mystery, the company website hints at a maximum supply of about 50 billion. About 17 million GALA are divided daily between the Gala Games Conservatorship and the Founders Nodes so that the ecosystem can keep expanding.

In order to gradually bring it down to zero, the distribution amount will be halved every year.

The Definition of NFTs

The term “non-fungible token” (NFT) refers to a digital token that may be used to guarantee the originality and worth of intangible goods like video in-game or art purchases.

NFTs are employed to generate digitally verifiable artificial scarcity, digital ownership, and the potential for asset interoperability across numerous platforms.

In Gala Games, NFTs serve as crucial in-game items that may greatly benefit a player’s performance. They’re rare; therefore, they’re expensive (hundreds of thousands of dollars sometimes). Gala Games releases NFTs, which may be purchased from the game store and used or resold by the buyer or seller.

When a player earns or buys an NFT, it becomes their exclusive property; the game’s developer can’t take it away (it is any longer their property).

As a result, players may earn and own their valued gaming assets, which might constitute a huge redistribution of wealth. This is a big leap forward in the gaming world, where items are purchased but never truly owned (they can’t be traded, rented out, swapped etc). NFTs therefore bring a very interesting dynamic to the gaming world thanks to the power of blockchain technology.

Gala Games’ Roadmap

Exciting things are on the horizon for Gala Games, and they include;

1. At least 28 new games are being released.

2. By removing the central server, node owners may take charge of providing games to their local players.

3. All games will receive brand-new coins (which will be distributed to node owners).

4. A paradigm shift toward “free” nodes (these will probably be to support game hosting once that becomes decentralized).

5. There has been much anticipation for the forthcoming Gala Music, Gala Film, and possibly even Gala Theme Parks.

The Ultimate Video Game System Bundle

Right now, Steam, PlayStation Store, and Xbox Live offer video game distribution services. However, Gala Games is different since it focuses on P2E dynamics, NFTs, and decentralized financing in its projects rather than traditional video games (DeFi). Also, free-to-play models let players make real money via their hobby.

In addition, the site allows users to vote on new game additions for Gala Games. Any participant can organize a voting node on any Gala using a personal computer.

Users won’t just be able to choose which games they want. They’ll also have a say in how the platform evolves, from which features to prioritize to which directions to push developers regarding new games, streamlined navigation, and bug fixes. In fact, Gala Games players wanted a PUBG-style game, so in February 2022, they added GRIT.

Gala Gold

You pay a one-time payment to become a Gala Gold member. In exchange, you receive direct exposure to a private discord channel, early news and announcements, early access to NFTs, and free NFTs from time to time. It is all in addition to the other benefits of being a Gala Gold member.

The Galaverse

Gala Games hosts an event called Galaverse twice a year, specifically for its followers. It is not simply a convention but a completely immersive and thrilling event that includes live music, gaming, role-playing, introducing new game releases, and much more.

Dangers and Restrictions

Account creation and gameplay both cost less. However, there are potential downsides and restrictions to keeping the coins or running a node.

1. Exchanges of nodes are not intended to be used (although there is a refund policy). They will have value once they are “minted” into NFTs, but it is unknown when that will be or what they’ll be worth.

2. Only on authorized exchanges, such as https://opensea.io/, may NFTs be purchased. Gala Games may be negatively impacted if authorities significantly influence the bitcoin industry.

3. You’ll need to pay for some GAS if you want to load your wallet with coins.

4. Many people have more than one node, but you can’t manage them all on a single computer or virtual private server (VPS).

5. As demand decreases and supply increases, the remaining nodes fetch tens of thousands of dollars.

6. Although Gala Games give instructions for setting up a node, you will need to operate it on a virtual private server or dedicated computer.

Pricing of Gala Games

Over the previous year, the value of the GALA token has climbed more than 30 times. However, the vast bulk of these gains occurred since the excitement around the metaverse began in September of last year. Over fifty percent of GALA’s value has been wiped off since its all-time high.

Estimating how many opportunities for growth the token has may be difficult due to the problem with the market cap before. It makes a significant difference if the market cap is closer to $11 billion, as Etherescan reveals, or closer to $2–3 billion, as suggested by CoinMarketCap and Coingecko.

Tips on Purchasing a Gala Node

The purchase process for a Gala Node is outlined here.

1. Create your free account at Gala Games right now!

2. You may access the “Get Gala” button if you’re a member.

3. Just make a purchase and manage a node (point 2)

4. To view all available coins, go to “Select Payment Method:” and click on the Gala icon. Nodes are purchased with Ethereum because it is the most accessible cryptocurrency.

5. After choosing Ethereum as the payment method, click Buy Now to see how much Ethereum must be transferred.

6. To the necessary quantity of Ethereum, add a marginal surplus (to cover GAS fees).

7. If you want to send Ethereum, you may find your Gala Wallet address by clicking the “Buy Now” button.

8. You may purchase the node if you have Ethereum in your Gala wallet.

Frequently Ask Questions (FAQs)

Is Gala Game legit?

Gala Games, a corporation, develops games. In addition to not being a fraud, their games are available at no cost. The company’s cryptocurrency, known as Gala Coin, may be bought, sold, and traded like other digital currencies. As a result of their historical volatility, cryptocurrency investments are often seen as risky.

Binance, Coinbase Exchange, Kucoin, FTX, and Gemini are just a few cryptocurrency exchanges where you can buy or sell Gala tokens.

Are there ways to get money via gala games?

If you can climb the leaderboards in TOWN Star, one of Gala Games’ play-to-earn (P2E) games, you’ll be able to start generating real money. You may earn points by cultivating crops, constructing a town, and trading goods in this farming simulator played in a web browser and earning TOWN coin can be swapped for currencies such as Ethereum or even into US dollars.

What exactly is “play-to-earn” gaming?

To put it briefly, play-to-earn gaming is a system whereby users of a blockchain-based gaming platform may receive incentives simply by playing games.

Players may utilize their talents to win cryptocurrency in these blockchain games, and they can exchange it for fiat currency or another cryptocurrency. If and when blockchain technology’s widespread acceptance finally takes off, the gaming industry stands to benefit greatly.

What Games Are Coming To Gala?

There are 28 Games currently in development within the Gala Games ecosystem. Most of these games are being developed by separate game studios and we don’t know all of the titles that are to be released yet. However, according to Trade Wise, here are the games that have been announced so far;

Town Star

This is a free-to-play (AND play-to-earn) town-building and farming game. This type of game is very popular, with 600 million people thought to have played similar games in the past. It is already proving to the very popular and new gamers are joining in the fun all the time. It is the first play-to-earn game in the Gala Ecosystem and they are constantly learning and adapting the game and earning potential to keep it fun and sustainable. The in-game token is TOWN and can be earned in many different ways by playing the game. (https://coinmarketcap.com/currencies/town-star/) . TOWN coin can be used to buy new NFTs, swapped for Gala or sold and converted into fiat currency (USD, Euro etc) as a real income.

Mirandus (Currently in development)

Mirandus is an epic fantasy RPG set in a massive world ruled by five player-monarchs. In-game, players have absolute freedom of choice: they can set out into the wilderness alone to try their fortunes against the monsters of the deep woods and dungeons, join with one of the monarchs to serve as a knight in their court, or set up shop in one of the five great cities of the realm.

Not a huge amount is known about Mirandus yet as it’s still in development. There have been some exciting teasers though….

Fortitude (Currently in development)

Originally called Fortified, Fortitude is another game that Gala Games currently have in development. It looks like a very exciting tower defence game. It was originally due for release in 2021, but after getting a complete graphic overhaul is now due for release in late 2022.

Some NFTs have already been released for this game, and I own a couple of different defensive towers.

Gala Games describes this game as;

“Fortitude is a PvP tower defence game set in a dark fantasy world where players compete against one another to both invade and defend villages. As you build and grow your village, you must craft and strategically place a variety of defensive structures like cannon towers, arrow towers and powerful magic buildings, all designed to protect you from invasion. While defending your village, you may also train soldiers and heroes to form an army and invade other villages to plunder precious resources. The loot obtained in these invasions will create the foundation for your own village’s expansion and development. Make sure you’re well-fortified for this intense and action-packed strategy adventure! Coming in Q4 2022!”

Spider Tanks

Spider Tanks is a PVP brawler that’s fast-paced, fun to play and has play-to-earn capabilities. I’ve played this game many times and it’s a lot of fun. I also own a number of NFTs. The native token for this game is SILK although it isn’t released at the time of writing.

You can play Spider Tanks for free or buy NFTs and have a better chance of winning and earning more too. There is a huge range of NFTs available and it’s worth playing the game a little bit to see what kind of style you have before purchasing NFTs, although if you do buy one you no longer need you can easily sell it again on the secondary market. SOm interesting NFT’s for this game include almost invincible chickens, sharks, and Snoop Dogg Lowriders.

Superior

Superior is from game developer Drifter, and is a co-op, roguelite, third-person shooter.

In a world where superheroes have become mutants and gone over to the dark side, you must battle for your life to take down these abominations and free the world.

Some game demo’s have been released for this but the game is not expected to go live until Q4 2022.

The Walking Dead: Empires

This is an official Walking Dead Game from AMC (the game developer is Ember Entertainment though). The game follows a similar storyline to the TV show as well as featuring some of the main characters. This game is a battle for survival against a seemingly unlimited number of zombies.

I’m excited to play this game and I already own a number of NFTs. There is an element of the third-person shooter in this game as you battle against zombies and collect resources. There is also a base-building element, and you can seek refuge and build defences on your own NFT base or help an NFT owner build in exchange for safe lodgings.

I cannot wait to play this game! I expect it to be released in late 2022.

Legends Reborn: Age Of Chance

Legends Reborn is a strategic card game from Kung Fu Factory. The aim of the game building decks of cards and take on all challengers. Amass is a collection of cards and creatures which allows you to build, re-build, and tweak decks to meet any challenge that comes your way.

Each card has special powers/abilities and the stronger your hand the better your chances of winning.

Although I’ve never played this type of online card game before there is a huge market for them and the NFT’s fit in nicely too.

Legacy

From the renowned game developer Peter Molyneux (creator of Theme Park and Sims) comes Legacy — a game that celebrates creativity. Players must build their own businesses within the game and in order to be successful must create the best products they can and showcase them to other players.

The game includes all aspects of running a business from sourcing raw materials, to designing and manufacturing products and then selling and trading them in an in-game marketplace.

I’m intrigued by this idea and it could be a huge hit, although it does seem somewhat of a new concept and maybe it will be like going to work rather than having lots of fun. It’ll be interesting to see how this game develops and how the gaming community responds to this one!

Last Expedition

Of all the games currently in development in the Gala Games ecosystem, this could be the one that really puts them on the map. Last Expedition is a survival first-person shooter. There are a lot of games like this on the market, but they are also HUGELY popular. What gives this game so much potential is that it’s being created by Certain Affinity, who have helped to create hugely popular games in the Halo and Call OF Duty series. This is the first title that they’ve developed for themselves, and they promise to make this their best game yet.

It’ll be interesting to see how NFTs feature in this game, but I love the idea of being able to buy weapons as NFTs and customize and upgrade them.

Echoes Of Empire

It’s fair to say that I’m excited about all of the games coming to Gala Games, but this one for me is a cut above the rest. An epic sci-fi 4x strategy game, Echoes Of Empire looks like it will be a vast game with huge potential. I love space exploration games anyway, and the graphics and gameplay in this look simply gorgeous. NFTs are already available for this game and I already own a couple of planets that I can mine for resources, and earn from as other players also do the same. NFT’s seem to fit this game better than any other I’ve seen and there will be spacecraft NFTs soon in addition to the stars and planets you can buy.

You can play this game solo, or join a guild and fight to rule the Universe.

The storyline for this game is rich in detail, and I can see gamers becoming obsessed with this game. It could be the type of game that players enjoy for many years, and this is quite an exciting prospect and possibly a first in the play-to-earn sector.

Here’s a little more detail from the game developers;

“Factions warring against one another on a galactic scale, setting the stage for an upstart hero (you the player) and your meteoric ascent to power! You will recruit Heroes and Knights to your banner while building, upgrading, and owning a fleet of starships all in an effort to bring glory to your house and control to your sector of the galaxy. Go solo or join up in massive guilds to mine or fight over resource-laden star systems. Once your coffers are flush with riches and resources, muster and master all aspects of your Command Station where you can upgrade warships, craft new weapons, and repair and refit your fleets. Player ownership of in-game assets is a core mechanic, and you will have the ability to own major sectors of the galactic system and the resources that go along with it. What will you leave behind as your legacy? Find out in Echoes of Empire!”

Due to be released in Q4 2022, I’m hoping that this one will have an open beta in Q2.

Town Crush

Originally planned just as a test game to test Gala’s new blockchain, town crush is a simple but fun match 3 game.

It has the same theme as Town Star with similar characters and graphics. This game would be ideal for app stores and younger gamers.

Fuzzles

Fuzzles are NFTs with personalities. Specifically, they’re cute-looking aliens, but don’t let their appearance fool you — they are here to overthrow humanity on be our masters! They’re cheeky and fun, and I was tempted to buy one for my kids but quite honestly they’re not suitable for youngsters.

Betwixt

Betwixt — The Story of You is a novel game idea aimed at improving mental health, described as “play-to-thrive”. Explore the game, and your inner-self in this fun and unique game. You might have fun and you could possibly even earn while playing this game, but an unexpected benefit might just be increased mental wellness and resilience.

GRIT

Grit is a Western-style Battle Royale. Its winner takes all in the shooting arena set in the times of gun slinging and horseback riding. Have you ever wanted to be a gunfighter? You can choose and customize your cowboy to suit your shooting style.

That pretty much wraps up this Gala Games review. Please let us know if you think that web3 gaming companies such as Gala are the future of gaming in the comments below!

Thursday, 6 October 2022

Koinly Review 2022The Best Crypto Tax Software?

Koinly Review 2022 — The Best Crypto Tax Software?

Koinly is a software app that can handle your cryptocurrency tax reports used by crypto investors or their accountants. For those with large portfolios, it can process multiple data and manage across several cryptocurrency exchanges.

This review will tell you what Koinly features can match your needs regarding cryptocurrency transactions, such as creating tax reports, tracking your portfolio, and exchanging cryptos. Before we get started, here’s a useful review video for those that are completely new to this tax software;

About Koinly

Koinly was founded in 2018. It provides simple navigation for complex tax reporting and crypto portfolio tracking calculations. Generally, these generated tax reports can be exported to supported tax filing software such as TurboTax Online and TaxACT.

The app lets you choose from the multiple cost basis methods and then generate several tax reports:

Average Cost Basis (ACB)
First In First Out (FIFO)
Last In First Out (LIFO)
Highest In First Out (HIFO)
Average Cost
Share Pooling
Spec ID

With the huge expansion of the usage of cryptocurrency, apps are built to sustain and be able to make transactions. Koinly contributes to making cryptocurrency easy to use and accessible. The app’s crypto portfolio tracker would be able to:

1. Automatically track cryptocurrency across exchange accounts like Coinbase, Binance, and more.

2. Identify transferred funds as a single transaction within your exchange account or wallet.

3. Switch between investment mode and tax mode:

Investment mode — you can keep track of your original acquisitions when exchanging cryptos (e.g., BTC to ETH) where it wouldn’t be considered as gains
Tax mode — gains would be calculated when cryptos are exchanged for another

Koinly Cryptocurrency Tax Software Overview

Through Koinly’s features, other than tax reports, you can sync your wallet transactions in your app’s dashboard. As a result, your cryptocurrency exchanges and other transactions are consolidated, which makes it easy to prepare your tax reports and forms.

Tax-Loss Harvesting

Tax-loss harvesting involves offsetting your capital gains to save money when filing taxes. For example, you can sell securities and consider them lost assets, which you can apply against your capital gains.

Yet, you can get back these lost assets by purchasing similar assets, and Koinly records your capital gains and losses per asset. You’ll be able to track which coins you sold and the losses.

However, the app doesn’t have a standalone tool of a tax-loss harvesting calculator. It only offers its feature of putting your unrealized gains and losses on your dashboard.

Crypto Tax Reports

Koinly has a tax report tab where you can see the overview of your cryptocurrency activities, such as your capital gains and profit losses. Other tax reports can also be generated depending on the country and the applied tax laws.

Income Reports

Create income reports from sources such as Airdrops, Forks, Staking Rewards, DeFi, and other crypto savings accounts or income transactions.

Capital Gains and Margin Trading Summary

You can see your unrealized capital gains, margin trades, options, and futures. The app will provide a breakdown of long or short-term gains, assets you’ve sold, and the original cost.

Koinly can also detect margin and futures trading such as BitMEX and income transactions from lending or staking platforms such as Celsius, Compound, or Nexo.

Form 8949 And Schedule D

US taxpayers fill out Form 8949 for the Sales and Dispositions of Capital Assets needed for filing crypto taxes. Generally, Form Schedule D includes net capital gains and losses.

Other international tax reports are available and supported in over 20 countries, including:

Australia
Brazil
Canada
Denmark
Finland
France
Germany
Japan
Norway
South Korea
Spain
Sweden
United States

This involves changing currency figures or other additional tax reports asked or required from the following countries:

Form 8949 and Schedule D (USA)
HMRC Capital gains summary (UK)
K4 report (Sweden)
RF1159 (Norway)
Valuation Report (Switzerland)
Lomake 9 (Finland)
Schedule 3 (Canada)
ATO summary (Australia)
Formulaire 2086 (France)

End-of-Year Holdings

The app can provide end-of-year holdings, giving you outlines of your cryptocurrency holdings for every year.

Gifts, Donations, and Lost Assets

Outgoing transactions like gifts, donations, lost assets, and even stolen crypto can be tagged as capital loss and be generated into a formatted report.

Cryptocurrency Exchanges and Wallets

Koinly can support the following:

Over 350 cryptocurrency exchanges
Over 6000+ coins, more than 50 wallets
10 other crypto services

These are synced automatically. Some of the popular exchanges are:

Binance
Coinbase
Crypto.com
FTX
Gate.io
Gemini
Kraken
KuCoin

Among the 50+ wallets supported by Koinly are the following:

BlockFi
Celsius
Exodus
Ledger
Nexo
Trezor
Trust Wallet
Yoroi

Import Crypto Wallet Data

You can connect your wallets through API keys to the app. While for BTC wallets, you can connect using x/y/zpub keys and your ETH tokens with a public address.

The app can also import NFTs from most EVM-based blockchains like the following:

ETH
BSC
FTM
AVAX
Poly
Cronos

However, there are NFTs that Koinly doesn’t support, so you must add them manually.

Once you have a new wallet on your Koinly account, the app can import all your trades and liquidities from the following platforms:

Uniswap
Sushiswap
Cream
Value
Balancer
PancakeSwap
DeFi

Cryptocurrency Tax Accountant

Even with the ease of using the tax software app, you may still be looking for an accountant. Koinly can provide a certified cryptocurrency tax accountant to deal with tax reports and requirements during the filing season.

Currently, Koinly has 2 CPAs from the US and 8 from Ireland. The onboarding process of a more certified accountant is still ongoing.

Portfolio Tracking

In your dashboard, you get an overview of your portfolio and total holding, which you can monitor the growth over time.

The app’s minimalist look lets you spot discrepancies and familiarize yourself based on the assigned colors, charts, and designs. Your actual ROI and invested fiat also appear here, and the breakdown of all your assets is on a pie chart.

For your income overview, you can get an overview of your mining, staking, lending, and other crypto income sources.

So, you can keep track of your portfolio in a universal pool shared across your wallets or monitor them individually.

Error Reconciliation

Generating tax reports in Koinly will help you look for errors and make the calculations accurate:

1. Spot missing transactions with the highlighted errors that make your balances result below zero.

2. With its double ledger system, the changes in the asset balances are backed by an entry for easy debugging.

3. Your API ensures that the data are correctly imported.

4. Skips duplicate transactions from API or the imported CSV files, so there’s no need to keep track of the imported files and the new ones.

Setting Up Your Koinly Account

To get started on importing your wallets on your Koinly account, follow these steps:

1. Sign Up

2. Connect Crypto Wallets

Once signed up, you can connect your crypto wallets, exchange accounts, and DeFi services. You’ll be able to have a free account within a few minutes since the app doesn’t use KYC requirements.

On adding a new wallet, look for their Wallets page and tap “Add Wallet.”

You can look for your wallet on the Exchange, Blockchains, Wallet, and Service. Generally, you can look for your wallet in the search box on the right side, along with the tabs.

3. Select On Importing Methods

After you find your wallet, importing methods will appear. Most of the cryptocurrency exchanges on Koinly have in them a Setup auto-sync option with their API keys that does the following:

Downloads transaction history
Automatically syncs imported data

You may also upload by clicking “Upload CSV files” if the setup auto-sync option is unavailable for that wallet or if you prefer importing such files.

4. Calculate Capital Gains

If the importing process is complete, which takes 15–20 minutes, Koinly will get down to the following:

Calculate your capital gains
Get the market prices
Match transfers across your wallets

These calculations may vary from country to country, and choose from multiple cost basis methods accordingly.

5. Export Tax Reports

After the calculations, start refreshing your page. Then you can go to tax reports to see your capital gains and income overview.

Then you can choose from several tax reports, such as the following:

Complete Tax Report
Transaction Report
Capital gains Report
Income Report
Expenses Report
Gifts, Donations & Lost Assets
End of Year Holdings Report
Turbotax Report
Localized Tax Reports

You can then export these reports in different formats such as CSV, excel, and pdf files.

Plans and Pricing

Koinly has plans and pricing available according to the features you want to use. The plans are paid per tax year.

The free account lets you have the essential features, such as:

10,000 transactions
Unlimited wallet and exchange accounts
Portfolio tracking
Capital gains preview
DeFi, Margin trades, Futures
FIFO, LIFO, Average Cost, and more
Wallet-based cost tracking (Spec ID)
Avalanche Trades

Newbie

For $49, Newbie accounts would also get the essential features but for only 100 transactions, plus the following tax reports:

Form 8949, Schedule D
International tax reports
Comprehensive audit report
Export to TurboTax, TaxACT

HODLer

For $99, HODLer accounts would have the essential features plus the tax reports for 1000 transactions.

Trader

For $179, Trader accounts would have the essential features plus the tax reports for 3000 transactions.

Safety And Security

Aside from importing and automatically syncing your wallets using API keys, it also secures your transactions. The app encrypts the imported data and won’t store any of your payment details.

Customer Support

You can contact Koinly’s customer support via:

Live chat
Email (hello@koinly.io)
Email support from experts (for Trader account only)

In fact, Koinly has a 4.6 rating for reviews on Trustpilot, where complaints are mostly errors from import transactions. That’s an impressive score for software such as this!

We hope you enjoyed our Koinly review. You might also like our TokenTax review and our Yieldnodes review.

Via https://medium.com/@crypto_bits/koinly-review-2022-the-best-crypto-tax-software-aefd57a2115f?source=rss-e787423ae68d------2

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Wednesday, 5 October 2022

TokenTax ReviewThe Best Crypto Tax Software 2022?

TokenTax Review — The Best Crypto Tax Software 2022?

TokenTax has shown itself as the top crypto tax software solution by automatically calculating crypto taxes and generating crypto tax forms for its users. The TokenTax platform is great for newcomers since it is simple to use, and the interface is well-organized and straightforward.

Newcomers won’t be overwhelmed by an abundance of options and text. Connecting to different exchanges and wallets is a breeze with TokenTax because of their streamlined and consistent onboarding process. You should have no trouble integrating your other cryptocurrency services after you’ve connected one exchange or wallet.

If you wish to learn more, continue reading this TokenTax review. Before we begin, here’s a useful video explaining exactly how TokenTax works;

The TokenTax Overview: How does it operate?

TokenTax is not only a tax filing program for cryptocurrencies like Bitcoin or Ethereum. All aspects of submitting your cryptocurrency taxes will be made easier with the support of the product’s dedicated staff of accountants.

TokenTax’s accountants have assisted clients with cryptocurrency tax filings in 18 countries, and the firm’s products and services are applicable in every country. When it comes to your tax files, TokenTax doesn’t stop at just keeping track of your cryptocurrency holdings. It’s a full-fledged tax accounting program that may help you save a lot of money in addition to the crypto you already own.

In addition to supporting every cryptocurrency exchange in the market, TokenTax also provides sophisticated crypto users with automated tax filing capabilities for use with decentralized finance (DeFi) use cases.

Pricing

Compared to other crypto tax accounting services, TokenTax provides more customizable options for its clients. However, the cost of every plan is more than that of competing crypto tax reporting providers’ comparable plans.

There’s also the question of whether or not consumers want to utilize TokenTax for all of their annual tax filing demands or to figure out their crypto earnings and losses. All of TokenTax’s paid plans come with a 30-day money-back guarantee. However, there is no free trial available.

1. Basic

Users may get started with TokenTax for free with the Basic account. This account type can only import trade data automatically from Binance and Coinbase exchange accounts. However, Coinbase Pro activity is also included.

This severe restriction on a basic account is unusual among crypto tax calculation software providers. On top of that, whereas other services may charge you $50 or more for a basic account each tax year, TokenTax’s Basic account is $65 a year.

This TokenTax account type simultaneously supports the import of up to 500 transactions and features full TurboTax integration. However, due to its expensive price and a limited number of supported cryptocurrency exchanges, TokenTax is not a good choice for those on a tight budget.

2. Premium Account

There is some logic to upgrading to a premium TokenTax account. It works with every cryptocurrency exchange worldwide and can process up to 5,000 transactions per second. Additionally, this TokenTax account tier features automatic interfaces for DeFi-related operations, including margin trading on BitMEX, Deribit, and By bit.

Tax loss harvesting is a feature available to account holders that may be used to look for ways to reduce a person’s yearly tax liability. This account level costs an extra $99 compared to the average crypto tax accounting platform’s intermediate account level, but it has a more robust feature set.

3. VIP Account

If you’re a big roller who trades a lot of cryptos each year, you might consider upgrading to a TokenTax VIP account. You may import up to 30,000 crypto transactions, and this will support all available DeFi projects.

Aside from the standard fare offered to both Basic and Premium users, VIPs also have access to sophisticated crypto reconciliation. This is useful when tax has been overlooked or employing more intricate trading techniques.

Those upgrading to the VIP tier of TokenTax may also use two 30-minute meetings with a tax professional to answer their crypto taxation issues. Finally, it is important to mention that VIP members of TokenTax receive support throughout an IRS examination.

Benefits

Since the platform does not demand any comprehensive information, the procedure as a whole is pretty straightforward. Token taxes also have the following benefits:

1. Includes full remittance support. TokenTax only supports 85 exchanges. However, its team will ensure that your trades are recorded in your account if you supply a CSV from an unsupported exchange.

2. Saving money on taxes by making use of past losses. To those with Premium and above plans, TokenTax offers advice on how to minimize their tax burden.

3. Accepts both the DeFi and NFT protocols. Specific DeFi protocols and NFT markets are integrated within the Premium and Pro tiers. In addition, the VIP plan incorporates all of the extras.

4. Is willing to take cryptocurrency as payment. Only a few crypto tax apps, like TokenTax, will take tokens as payment. You can make your payment in USDC, DAI, BTC, or ETH.

Drawbacks

TokenTax also has several disadvantages.

1. It is pricey. Although the price of its Premium plan is comparable to other cryptocurrency tax software. Coinbase customers access the company’s most economical plan, which costs $65 per month. Its VIP subscription costs $3,500.

However, it only covers 30,000 transactions, which pales in contrast to competitors like ZenLedger and Taxbit, which allow limitless transactions.

2. No returns. No refunds are available through TokenTax since the company will do all it takes to ensure that your cryptocurrency tax data is accurate.

3. Included in this package is only Form 8949. You are responsible for completing any additional tax forms that may be necessary, such as Schedule D.

Key Advantage of TokenTax

The greatest strength of the TokenTax platform is that it is designed to do much more than merely simplify the yearly tax filing process. To support the program, CPAs are ready to answer any questions regarding crypto taxes and advise you on money-saving strategies to reduce your overall tax liability.

Hiring a crypto tax accountant is more expensive than utilizing tax preparation software, but it is worth it for people anticipating a large crypto tax bill for the year. TokenTax’s universal compatibility with cryptocurrency exchanges and tax jurisdictions is another major selling factor.

TokenTax has thought of everything, so any crypto user, no matter where they are in the globe, may use it to keep track of their tax filings. While TokenTax’s interfaces with the largest cryptocurrency exchanges are more robust, trade data from any exchange that exports to a CSV file may be entered into TokenTax.

Additionally, the platform’s support for all tax jurisdictions worldwide is evidence of its commitment to serving the requirements of all cryptocurrency investors. The homepage of TokenTax also features several testimonials from well-known crypto industry figures.

Having high-profile figures like Messari’s CEO Ryan Selkis and CoinShares’ CSO Meltem Demirors vouch for TokenTax will reassure potential customers that they’re safe. Compared to other crypto tax reporting platforms, TokenTax has received far more endorsements from well-known figures in the crypto community.

Finally, it’s worth noting that TokenTax may serve as a replacement for all of your current tax account software needs. TokenTax isn’t only focused on the cryptocurrency industry; it also provides a comprehensive plan for individuals who want to utilize it for all their tax demands.

Obstacles to a Possible Agreement

Although TokenTax appears to have the most functionalities, there are a few drawbacks to consider before deciding to use this platform as your crypto tax software solution.

To start, there is the question of the platform’s high price. Furthermore, the Basic account only supports two exchanges, which is $20 more expensive annually than other high-quality crypto tax applications on the market.

People with many cryptocurrencies in their portfolio would likely benefit from the extra features available with a Premium or Pro subscription. Still, those who need a simple, low-cost solution for their crypto taxes should seek elsewhere.

TokenTax’s lack of features as a cryptocurrency portfolio tracker is another possible drawback. Many cryptocurrency investors would benefit from being able to monitor their crypto holdings and file tax returns using a single app, but this is not an option with TokenTax. However, if you have a Pro or Enterprise account with TokenTax, you may easily import your Blockfolio crypto portfolio data.

Frequently Ask Questions (FAQ’s)

The following are the questions that are asked the most commonly about Tokentax:

Which country is supported?

TokenTax stands out among similar services since it can assist cryptocurrency investors in any jurisdiction. TokenTax can provide its full suite of products and services for calculating the taxes related to your crypto capital gains and losses over the past year, regardless of location. It includes long-time bitcoin holders in the United States and new crypto traders in Southeast Asia.

In contrast to the majority of competing crypto tax software solutions, TokenTax supports every scenario without specifying which nations are covered on the website.

Is it risk-free to utilize TokenTax?

TokenTax encrypts your data using TLS, so it is not visible to anyone else. The only information it gathers is your transaction data and email address. Suppose you are particularly worried about the privacy of your data. In that case, you should join TokenTax with a “burner email address,” which is an email account used just for TokenTax, and pay with cryptocurrency.

We hope you enjoyed our Tokentax review. You might also like our Yieldnodes review!

Via https://medium.com/@crypto_bits/tokentax-review-the-best-crypto-tax-software-2022-1d6016ebc09a?source=rss-e787423ae68d------2

source https://cryptobits1.weebly.com/blog/tokentax-reviewthe-best-crypto-tax-software-2022

Yieldnodes Review [2022] 2500% Returns But Is It Just A Scam?

YieldNodes offers a sophisticated, tiered masternode renting model in the future blockchain-based economy. The interplay of master-noding, price increases, and complementary services within the same ecosystem derives profits. Not only has YieldNodes expanded rapidly since its beginning 3 years ago, but it has branched out into other sectors to more reliably and effectively generate income.

The platform has a cryptocurrency that is traded on an exchange (several actually), a decentralized marketplace where users may buy and sell cryptocurrency, and a cryptocurrency-based payment system. The development of new services, partnerships, and commercial opportunities are ongoing.

>> Join Yielnodes Today HERE <<

YieldNodes Overview

Using a mathematical technique that includes masternoding, Yieldnodes is a ‘pay-for-service’ system that generates income for its users.

It was originally conceived as a masternode project, but it has since evolved into a hybrid combining masternoding and staking elements. Whilst masternoding tokens is something that anyone can do (assuming you have enough capital to buy these expensive nodes), Yieldnodes take responsibility for this making it very easy to earn high yields with only a minimum investment of €500. All earnings are pooled and distributed monthly: 85% to participants and 15% to Yieldnodes.

The Yieldnode platform removes users’ need to have any masternode experience to profit from this type of yield. Despite the complexity involved in setting up and maintaining a node, Yieldnodes takes care of everything and splits the earnings with its investors.

The creators of Yieldnodes have been entirely upfront with all the operations since they launched the network in 2019, and the results are publicly posted each month.

Masternoding

Every cryptocurrency has a predetermined maximum supply that will be released into circulation. The release of these coins occurs over several years rather than all at once.

Bitcoin was created with the capacity to generate 21,000,000 tokens, but as of this writing, only about 18.4,000,000 are in circulation. The coins were distributed over several years, with the final few coins maybe not coming out until 2040. But the newly minted coins aren’t merely given away for free. You have to work for them.

There are two methods for acquiring currency. These are POW (Proof of Work) and Proof of Stake systems. Let’s go into the inner workings, as they are crucial to understanding how Yieldnodes produce their returns.

Average Monthly Return For YieldNodes

Yieldnodes typically generate a monthly return of around 7%. This is made possible because masternodes may earn a very high return on investment in a proof-of-stake network.

Recent yearly returns have been in excess of 101% and those who opted for monthly compounding earned a staggering 265%.

Users have even claimed significant gains of around 20% each month during the previous months of the crypto market’s ‘bull run’ phases.

On the other hand, if the market falls and cryptos drop in value, investors might see much smaller gains. According to reports, despite Bitcoin’s 40% drop from its all-time high in May 2021, investors still saw a 7.9% profit.

You can discover a comprehensive list of currencies and their predicted ROIs on their official website, and the rewards vary widely depending on whatever currency you lock in a masternode.

Key Features and Benefits of YieldNodes

A few of the best things about YieldNodes are outlined here.

1. Financial projections and historical data show that masternodes generate 5–15% monthly returns.

2. Eighty-five percent of profits go to the participants and fifteen percent to the program (the rental payment).

3. Capital will be refunded in full, including any interest or other accumulated earnings, if the yield falls below 5% for three consecutive months.

4. Return on investment of 1,167.09% compounded annually (since inception in Sept 2019)

5. The past 26 months of average yield was 11%, which works out to a yearly yield of 132% (or 249.85% compounded).

6. There is a 500 Euro ($565) minimum and a 250,000 Euro ($281,000) maximum. Six-month commitment minimum

7. Payments may be made from any nation using Bitcoin, US Dollars, Euros, Visa, Mastercard, SAPP Vouchers, Bank Wire, or Bank Transfer.

8. Yields are compounded weekly and paid out in bitcoin or withdrawn after the first 6-month term.

9. There are no setup costs or monthly dues to join. Yields displayed are after deducting 15% of income as management fees to YieldNodes.

Decenomy

The future of Yieldnodes and their continued success depends heavily on the concept of decenomy, which is their vision for bringing crypto into real-world economies. Initially, they are doing this with a partnership with a small company, Sao Tome and Principe. Here they intend to support the entire economy of this country with their tokens. It’s an interesting use case for crypto assets but very much an experiment.

Here is an overview of the project;

Starting With YieldNodes

YieldNodes offer deposits in US dollars and Euros by Visa, Mastercard, and bank transfer, so you can get started without worrying about whether or not you understand how cryptocurrencies work. If you deposit dollars or euros, YieldNodes will turn them into bitcoin and automatically add them to your portfolio. You have the option to make bitcoin deposits if you want to.

You can receive interest payments every month (after a 6-month minimum term) or have it compounded, in which case the interest will be added to your principal (after the first month).

The minimal time frame for investing any amount of money is six months. YieldNodes needs that commitment to stake the money associated with your investment allocation.

Don’t put any money from the bank that you’ll need for the next few weeks into that account. Bitcoin is used for monthly dividend payments. You have the option of either withdrawing or letting your money multiply after 6 months. Another option for maximizing your profits is to raise your monthly investment, increasing your share and the amount of interest compounding on that investment.

Methods Of Payment

To start with the Yieldnodes platform, you don’t need to own any cryptocurrency or have any prior expertise working with cryptocurrencies. It is one of the many fantastic aspects of this platform. Users of Yieldnodes can make investments using fiat currencies such as the United States Dollar (USD), the British Pound (GBP), the Euro (EUR), and many more.

It can be accomplished through several different payment methods, such as a Visa card, a credit or debit card, a Mastercard, or a bank wire. Once the funds have been sent from your bank, the platform will automatically make the necessary cryptocurrency trades and investments on your behalf.

Additionally, you may make deposits via Coinify or Walleteze, and you can do it with Bitcoin or any other cryptocurrency (the latter has lower fees). After Yieldnodes have been credited with your deposit, it will take approximately one week for the money to be transformed into masternodes. You will be able to start earning rewards after this.

Frequently Ask Questions (FAQ’s)

The following are some of the most commonly asked questions about YieldNodes:

Do Yieldnodes Work, or is it a Scam?

Many people have used Yieldnodes without complaints, and the company’s leadership is open and honest. TrustPilot and other review sites corroborate this. The Yieldnodes team has stated time and time again that maintaining a “clean name” is a primary goal, and they haven’t wavered from that stance yet.

The audits mostly confirmed the company’s assertions of financial health, finding that its compounds and deposits are in harmony with its working capital.

Where and How Safely are the Funds Kept?

When the user’s money enters the system, they are instantly transformed into masternode coins. The proof-of-stake paradigm demands that coins be locked up when a masternode is created.

The money is transferred to a new investor pool worth over $10 million. Every month, customers receive a return proportional to the money made. That’s why masternodes are so important; they’re one of the greatest methods to keep your money safe from hackers.

Can I Get My Hands on My Money Whenever I Want?

Your money will be held for a period of six months if you use Yieldnodes. After that period has passed, you will have full access to your funds at any time; however, you will first be required to submit a withdrawal request, which will take about one month to complete (since that is how long it takes to dissolve masternodes).

Do I Have the Option to Multiply My Earnings?

Yes. There is an option to automate the compounding of monthly profits, so you may leave your investment alone to increase over time. If you don’t want your returns compounded, the platform may be set to pay them out monthly instead. Or you can choose to have a portion of your returns compounded while the rest are paid out regularly.

Does Changes In The Price Of Bitcoin Affect My Investment?

Yield nodes benchmark investments against the Euro; hence, if you invest 1,000 Euros, this is the amount they refer to, even though you are investing Bitcoin. Let’s imagine that your investment yields a return of 10%, and you decide to take it all out.

You would get Bitcoin worth 1,100 Euros in exchange for your payment. Price swings in cryptocurrencies affect the tokens being a controller node, and a severe downturn in the cryptocurrency market as a whole would be terrible for Yieldnodes. On the other hand, when the market is steady or growing, it would mostly enhances returns.

Is Yieldnodes Audited?

Yes. Yieldnodes has been audited several times. Each year the company invites members to attend an in-person audit to check that funds are being used in the way they suggest on their website. These audits are important in making sure invested funds do in fact flow into the coins listed on their homepage.

Still confused? Here’s a detailed Yieldnodes review explaining more about exactly how this investment works;

Conclusion

Yieldnodes has a good track record of consistently paying monthly returns for over 3 years. They also have a good number of 5-star reviews on reputable review sites such as trust pilot. The investment is a very high risk though, and even the Yieldnodes team themselves admit that what they’re doing is very experimental. Taking the time to really understand the risks is vital with such an investment where 100% of invested capital is at risk.

Read more from this author here. Articles by this author may contain referral links.

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Monday, 3 October 2022

Yieldnodes Review [2022] 2500% Returns But Is It Just A Scam?

>> Join Yielnodes Today HERE <<

YieldNodes Overview

Using a mathematical technique that includes masternoding, Yieldnodes is a ‘pay-for-service’ system that generates income for its users.

The creators of Yieldnodes have been entirely upfront with all the operations since they launched the network in 2019, and the results are publicly posted each month.

Masternoding

Every cryptocurrency has a predetermined maximum supply that will be released into circulation. The release of these coins occurs over several years rather than all at once.

Average Monthly Return For YieldNodes

Yieldnodes typically generate a monthly return of around 7%. This is made possible because masternodes may earn a very high return on investment in a proof-of-stake network.

Recent yearly returns have been in excess of 101% and those who opted for monthly compounding earned a staggering 265%.

Users have even claimed significant gains of around 20% each month during the previous months of the crypto market’s ‘bull run’ phases.

You can discover a comprehensive list of currencies and their predicted ROIs on their official website, and the rewards vary widely depending on whatever currency you lock in a masternode.