Cryptocurrency is a virtual currency, as well as a mutual transfer mechanism with decentralized emission and accounting system. The operation of the system is limited to a distributed computer network, and the overwhelming majority of information about transfers does not pass through encryption, but is open. There is no external or internal administration, and government agencies, private organizations, financial corporations and other market participants cannot influence the operation of this mechanism, unlike “traditional” payment systems.
In America, cryptocurrencies are not prohibited, and a variety of financial services are actively working there. Moreover, they have been working successfully for several years, collecting positive reviews, so finding an American exchanger will not be difficult.
The principle of their operation is approximately the same for all of them. America, in particular New York, has been in a fever over the adoption of BitLicense. According to this “license”, the right to work with digital currency and bitcoin in particular can be obtained only by those New York companies that have been accredited, submitted documents and reports on their activities, officially registered and received a patent.
For us, as users who just want to find LTC to BTC chart or to exchange the money for BTC and vice versa, this means that every New York exchanger we deal with has a patent and is monitored. This means that the risk of fraud on the part of the service is practically excluded.
How to cash out cryptocurrency in the USA?
The United States of America is probably one of the countries with the toughest cryptocurrency tax policy. Almost any transactions with digital assets are taxed there. Even if you do not exchange your coins for US dollars, you will have to pay tax, because in accordance with the legal framework of the country, cryptocurrency is considered property.
Actually, the only way to cash out cryptocurrency in the United States without taxes is to pass the profit through offshore companies. Very often, American citizens register companies in countries with a zero taxation system and withdraw income in the form of salaries.
Of course, it is possible to cash out cryptocurrency without paying taxes, using various bypass channels, services, etc., but such machinations can lead to the most dire consequences, up to a prison term.
Cryptocurrency exchange works so that an experienced trader can spend quite a bit of time to look at the chart of the BTC or other asset rate and immediately understand all the information he needs. In order to learn how to decipher data from the price chart, you need to be able to understand the essence of the main charts that can be found on any crypto exchange.
Price charts are a very important part of the crypto community:
- These charts make it easier to see and understand the ups and downs of cryptocurrencies.
- It is much easier than reading texts and articles and much faster.
Japanese candlestick chart. This chart is the most common method in the data market. It was created by a Japanese merchant several centuries ago.
It is not very convenient to follow the usual price chart, therefore, to draw Japanese candlesticks, the time is divided into periods, for example, 10 minutes. This division into periods makes the overall picture clear, which helps to judge the trend.
So, to trade and make money, you need to learn, understand the charts and have patience.