One of the most important economic stories of the modern era is the alternative to traditional currencies. Commonly referred to as “crypto” and sometimes referred to as “digital currency”, its most popular examples are Bitcoin and Ethereum, but there are thousands of others. What is cryptocurrency, why do the authorities tax it, and how does it affect your financial situation?
As the crypto economy continues to grow, crypto mining is getting a lot of public attention. The COVID-19 pandemic has caused a colossal downturn that has led cryptocurrency traders to encourage mining as a new way to generate passive income. In addition, countries have begun to see an increase in the purchase of GPU cards, which are the main element for creating a cryptocurrency mining rig. Even in Abkhazia, where all cryptocurrency transactions have been banned for the past two years, it has been reported that citizens have recently spent about $500,000 on mining equipment. In addition, the ever-increasing prices of Bitcoin and Ethereum are another important reason for the increase in cryptocurrency mining activity.
2009 is truly a revolutionary year in the crypto space. This is primarily because it was the birth year of Bitcoin (a digital currency that competes with fiat money). As you all know, Bitcoin has done more than just create a virtual asset. He helped technological innovators realize the idea of blockchain technology. Using the same technology, Ethereum, an application development platform, emerged in 2014. Fast forward to 2021, there are hundreds of cryptocurrencies on the market, with Bitcoin and Ethereum topping the crypto asset chart. But, which of these cryptocurrencies is a good bet in 2021?
