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Day 16: Crypto as an Asset - Part 5
If you're an Indian resident, then you will have to pay 30% tax on your income.
Stocks are also taxed but at a lower rate
Income = sale price - cost of an asset
Unlike stocks, you can't set off losses in crypto.
#100DaysOfCrypto #Tweeseries
Day 15: Crypto as an asset - Part 4
Trading in crypto is similar to stock.
You can either "buy or sell" at a market price or "bid or ask" to stop the loss.
In the stop loss, when the price matches then trade is settled, called the trade price.
#100DaysOfCrypto #Tweeseries
Day 14: Crypto as an asset - Part 3
Buy cryptos for INR or USD it's similar to buying shares in the stock market.
That's your stepping into crypto. You may call it #OnRamp This is one way of earning money in crypto.
[Check Thread]
#100DaysOfCrypto #Tweeseries
Day 13: Crypto as an asset - Part 2
#CryptoFD is similar to #BankFDs where you deposit & lock an amount for a time period to earn interest.
The rate of interest is comparatively high in CryptoFD You can deposit one time or do SIP (a.k.a #CIP)
#100DaysOfCrypto #Tweeseries
Day 10: To start using cryptocurrency, you do not need to have a degree or certification. Not everyone is a builder or developer.
You, with basic education and awareness, as needed to use the banking system, can use the crypto & its products.
#100DaysOfCrypto #Tweeseries
Day 9: Which wallet'd you use?
You don't feel safe depositing money in a bank that controls the account. Most banks are custodial
Should you keep crypto at the address (a/c) owned by a platform? No right
Cryptos are safe with non-custodial wallet
#100DaysOfCrypto #Tweeseries
Day 8: Private Keys?
Consider private keys your pwd to crypto wallet
You use a pwd for "Netbanking Account"
Similarly, you need "Private Keys" to unlock or transfer #crypto between parties.
Not your keys, not your crypto.
Don't share your keys.
#100DaysOfCrypto #Tweeseries
Day 6: Crypto Wallets?
Used PayTM wallet?
Crypto Wallets are also the same. No difference!
They are basically a medium to transfer money between parties. That's it.
A unique address is used like PayTM uses a mobile number or UPI to send money.
#100DaysOfCrypto #Tweeseries
Day 5: Price of cryptos
Initially, cryptos are issued at 0 value.
They're sold in private & public sales at an ask set to raise funds for the product.
If product does well, and so does the token, this creates high demand & price goes ↑ else ↓
#100DaysOfCrypto #Tweeseries
Day 4: What are #Tokens?
Unlike #cryptocoin, tokens are issued by the other platforms. These platforms can be org. Or individuals.
Technically coins & tokens are different, but they function in the same way.
Eg. Coin: $BTC, Token: $USDT
#100DaysOfCrypto #Tweeseries
Day 3: What is #Bitcoin?
Bitcoin is beyond money, not a blockchain.
BTC is its symbol, not a logo.
$FIAT currencies such as ₹, $, € have borders.
But $BTC is borderless.
Unlike $FIAT, you can invest in $BTC
Spend online/offline
#100DaysOfCrypto #Tweeseries
Day 2: What is #Blockchain?
It’s like a bank’s database with Credit & Debit records stored securely forever, and no one can delete these records
You send money with a private key here as you do with OTP for Bank.
Money is called Cryptocurrency here
#100DaysOfCrypto #Tweeseries
Day 1: What is #Cryptography?
A method to secure information or hide the real meaning and vice versa.
Eg. Msg: "I AM LAXMAN" 🙋🏻♂️
Let's hide real meaning by applying a rule: Replace letters with 2nd successive letter.
Secured Msg: J BN MBYNBO
#100DaysOfCrypto #Tweeseries
Hey guys, I'm starting a #100DaysOfCrypto #Tweeseries (Tweet Series).
Purpose: Awareness & Education
Theme: Short & Simple
Scope: Basic to Advance
All of the tweets will be here, chronologically.
Share with your friends and Colleagues!
Shame:
Mumbai is drowning But Guess What seems that The Administration is still Sleeping at Home
Leaders whos Handles are active at 7.00 am for RT on PR campaign Have Not even tweet once the the Failure of BMC preparedness in Water logging..
@jitengajaria
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