First I want to lead with how helpful the majority of this community has been, the laughs on the weekends, the insane DD people manage, just good stuffs!
Ok questions, I gots a few...
Feel free to make fun of me for not knowing, try and guide me a touch in the correct way though too if you could as well haha.
- Is moving your coins from an exchange to your own wallet ever a taxable event?
- When I stake a coin, is this a taxable event?
- I can't figure out how to link my Blockfolio with my ledger Nano X, is this supported?
- For a complete beginner, what is the simplest way to passively earn money on your own coins? Is it just staking (think KISS method, seriously I am dumb lol).
- If my wallet address gets made public, the one that you would use to deposit Bitcoin to let's say, is my "account" compromised now?
- What are the most simplest and user-friendly ways for novice to have a tangible way to interact with the crypto universe, I want to feel like I'm participating in a meaningful way. I use Brave browser, I think that counts?
- Have another question about staking, let's say I have 500 coins of ADA and I stake all of it. After all has been staked I buy 1,000 more coins and it goes to the same wallet as my previously 500 staked ADA, does this new 1000 coins get staked automatically?
- If I participate in a staking pool am I helping out the person that owns it way more than I'm helping out myself, am I just making some YouTuber rich? Full disclosure I went and used digital asset news to stake my ADA, hope this was not a dumb choice?
- From the literature angle, are there any physical books related to all things crypto that people should read and educate themselves with? Follow up why do you make that recommendation for this book too?
- Okay possibly really stupid question here, does it matter that I'm an American when I'm looking to buy Monero XMR I don't know if the feds will be stopping by since a potential percent of my portfolio could be XMR, anything else I should be aware of concerning this?
- is there a way to hold your "cash emergency funds" inside the cryptoverse without suffering capital gains when you need to withdraw and use it should the emergency come up?
- If I put some of my money into a stable coin to diversify and for safekeeping is there any way I can lose my money or is it super safe?
If I used the wrong terminology, please correct me so I can be on point next time I speak on this subject.
Understanding these questions will help me out so much everyone! I have some memory problems so keeping questions clumped up and in one space helps me navigate back to it when I will inevitably need to reference it.
You peeps really are awesome, thank you tons!
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