OP 01 December, 2021 - 05:52 PM
you can Get many AirDrops FREE on Crypto
Airdrops
Of all the methods for earning free crypto, airdrops carry the most risk —
more than we believe is worth the benefit for most investors.
Developers perform airdrops when they want to gain traction for their new cryptocurrency.
Put simply, they give away coins to try and garner adoption.
You can look online to find when airdrop projects are happening; they’re often promoted
on the company’s website as well as by users on social media platforms and some crypto news sites.
If you qualify, the developers often send the specified amount of coins straight to your digital wallet address.
It’s important to be cautious with any new cryptocurrency projects.
Fake airdrops and ICOs— initial coin offerings — are common scams used by hackers.
Even when they are real, many of the coins issued in airdrops are not a great investment store of value.
Experts recommend sticking with the most well-known cryptos, Bitcoin and Ethereum, especially for beginners. If you follow that recommendation, then pass on airdrops.
Any crypto you earn through airdrops is also taxable income. You’ll be responsible for reporting it as such based on its fair market value on the date it was recorded on the distributed ledger (in most cases, when you receive the airdrop into your digital wallet), according to the IRS.
Airdrops
Of all the methods for earning free crypto, airdrops carry the most risk —
more than we believe is worth the benefit for most investors.
Developers perform airdrops when they want to gain traction for their new cryptocurrency.
Put simply, they give away coins to try and garner adoption.
You can look online to find when airdrop projects are happening; they’re often promoted
on the company’s website as well as by users on social media platforms and some crypto news sites.
If you qualify, the developers often send the specified amount of coins straight to your digital wallet address.
It’s important to be cautious with any new cryptocurrency projects.
Fake airdrops and ICOs— initial coin offerings — are common scams used by hackers.
Even when they are real, many of the coins issued in airdrops are not a great investment store of value.
Experts recommend sticking with the most well-known cryptos, Bitcoin and Ethereum, especially for beginners. If you follow that recommendation, then pass on airdrops.
Any crypto you earn through airdrops is also taxable income. You’ll be responsible for reporting it as such based on its fair market value on the date it was recorded on the distributed ledger (in most cases, when you receive the airdrop into your digital wallet), according to the IRS.
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