December 2019
Beginner
368 pages
9h 46m
English
Content preview from Cryptocurrency Mining For Dummies
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Chapter 13
Running Your Cryptocurrency Business
IN THIS CHAPTER
Learning what to do with your cryptocurrency
Understanding mined cryptocurrency tax liabilities
Timing your entrances
Understanding the dollar cost average theory
Timing your exits
Determining when to scale up or upgrade equipment
Once you’re in business — you’ve determined what cryptocurrency to mine, deployed mining equipment, and have collected rewards back to your cryptocurrency wallet — the next issue to deal with is what you’re going to do with your cryptocurrency earnings.
In fact, you have a variety of things to consider. You need to watch the market conditions for the cryptocurrency you’re mining and others that you may consider switching to. You also need to understand the tax liabilities incurred during your mining adventure; both keeping your cryptocurrency as well as selling your earnings will have implications. ...
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