Crypto Trading at Its Best

The declaration form for digital asset accounts has been posted online. By digital assets is meant cryptocurrencies such as Bitcoin or ether. This statement concerns people who opened, owned, used or closed a crypto-active account in 2019 with a platform located outside of this country. This is, for example, the case of Kraken, Poloniex or Coinbase. If you have your private keys, you are not affected. This form is, in fact, an adaptation of the declaration of a bank account abroad. If the persons concerned do not complete this form, they will be liable to a fine of 750 dollars per undeclared account or 125 dollars for omission or inaccuracy, up to 10,000 dollars per declaration, as specified in article 1736 X of the General Tax Code. From you can have the best choices now.

The form for declaring capital gains or losses from the sale of cryptocurrencies and other digital assets has not yet been published. As provided for by the decree published in June 2019, crypto capital gains or losses are included in the 2019 income declaration.

Definition of Bitcoin

Bitcoin is a virtual currency created in 2009 by an unidentified person whose pseudonym is Satoshi Nakamoto. Unlike conventional currencies also called fiat currency, Bitcoin is not issued and administered by a banking authority. It is issued on the blockchain protocol of the same name. This technology makes it possible to store and transmit information in a transparent, secure manner and without a central control body. Bitcoin, like many other cryptocurrencies, is brought into circulation through mining. “Miners”, people spread all over the world, perform mathematical calculations with their computer hardware for the Bitcoin network in order to confirm transactions and increase their security. In exchange, they receive bitcoins. They can then be converted into fiat currency or exchanged for other cryptocurrencies on exchange platforms.

The issuance of bitcoins is limited to 21 million units, as provided for in the initial code. This amount should be reached in 2140. In early 2018, the number of Bitcoin issued passed the 17 million mark or 80% of the total. Due to the difficulty of growing calculations, Bitcoin is created at a decreasing rate: 12.5 bitcoins every ten minutes today compared to 50 bitcoins in 2009.

Bitcoin price in dollars

There is no official value for Bitcoin. This indicator is only an average of the price of Bitcoin usually in dollars on all of the world’s cryptocurrency exchange platforms. There are several sites that use this method, the most famous of which is CoinmarketCap. How is the price of Bitcoin determined? The answer is quite simply by the law of supply and demand. On February 1, 2020, the price of Bitcoin amounted to 8,443 dollars.

Since its creation, the price of Bitcoin has experienced great variations. 2017 was a particularly eventful year for the cryptocurrency star. After having passed the 1,000 dollar mark in early 2017 and gradually increasing over several months, its price reached a historic level last December: 19,000 dollars It then collapsed at the end of December 2017 and then continued to decrease gradually in the first half of 2018, reaching around 5,500 dollars.

Bitcoin price history

The price of Bitcoin began to be listed in early 2011, two years after its creation. It is most often expressed in dollars or dollars but it can also be found in yen or Yuan because Asians are very fond of cryptocurrencies.