10 Crypto Loopholes The Rich Use To Get Richer
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00:00 - Introduction and Topic Overview
01:40 - Asset Protection Strategy for Crypto
03:34 - Charging Order Protection Entity (COPE) for Crypto
05:30 - Wash Sale Rule
07:30 - Hard Wallets in Crypto Trading
11:43 - The Charitable Remainder Unitrust (CRUT)
15:27 - Revocable Living Trust for Crypto Investors
17:55 - Diversification of Profits in Crypto
20:47 - Long-term Commitment in Crypto Investment
23:53 - Tracking Transactions and Reporting to IRS
26:02 - Blocker Entities for Ordinary Income Transactions
28:17 - Using a Roth IRA for Crypto Investment
Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!
Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life beause I invested early ahead this time .
Exactly ! That's my major concern and what lucrative investment can one venture into with the current rise in economic downturn
having an advisor solves this, i can testify personally
How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
Vivian Carol Gioia is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Successful investing is hard work because it means disciplining your mind to do the opposite of human nature. Buying during a panic, selling during euphoria, and holding on when you are bored and just craving a little action. Investing is 5% intellect and 95% temperament.
Government policy has thrown the future under the bus for decades. The day of judgment is near. I predict an 80% drop in the stock market. Investors will abandon stocks in favor of real estate. There will be no money in banks... You must devise a strategy for survival.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.
The advisor that guides me is Erik Heinz Lembcke, most likely the internet is where to find his basic info, just search his name. He's established.
@ERIK HEINZ LEMBCKE 💯 ..that's it
I realized that the secret to making a million is saving for a better investment. I always tell myself you don't need that new Maserati or that vacation just yet. That mindset helped me make more money investing. For example last year I invested 80k in stocks and made about $246k, but guess what? I put it all back and traded again and now I am rounding up close to a million.
Thanks for continuing updates I'd rather trade the stock market as it's more profitable. I make an average of $34,500 per week even though I barely trade myself.
I'm favoured financially, Thank you Jesus $32,000
weekly profit regardless of how bad it gets on the economy.
How
..? Am a newbie in crypto investment, please can you guide me through on how you made profit?
Thanks to Mrs Deborah Davis.
She's a licensed broker here in the states
I see Bitcoin ETF as a revolutionary move in finance. Bought a lot in October, recently sold $200,000 worth for cash. If you missed this, listening to bad news all year cost you some incredible profits.
ALT The Bitcoin ETF introduction marks a revolutionary step in finance. Buying significantly at the October low paid off as I recently sold $180,000 in cash. Apologies to those who missed out; listening to bad news throughout the year led to missed incredible profits.
This is why it is advisable to connect with a true market strategist in order to avoid missing such opportunity and maintain steady gains.
I agree. This is why I work with an investment advlsor, I currently have $630k in a well-diversified portfollo that has experienced exponential growth.
How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
Amber Dawn Brummit is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
Thank You for this update ! I read that Nvidia provides tech for crypto mining services/blockchain transactions. Could the current crypto pump be attributed to Nvidia’s great earnings and should I hold some crypto as well, cos tbh I’m having FOMO with the current crypto price at 70k.
Microstrategy CEO bought $155million worth of bitcoin, so yes BUY!
It’s going to be a wild yr for these sectors, so you should def. invest in crypto.
60% ofmy prtfolio is spread acrss tech stcks, crypto nd Crypto/Gold ETFs.
well the crypto market is expected to do way better than any other equity sectors this 2024 especially with the SEC crypto ETF approval but it’s a volatile market nevertheless and if you’re new to it, it’s best to reach out to an experienced adviser for proper guidance.
Yes, my asset manager advised I spread further into mutual funds and crypto Etf and boy am I glad I did. The whole idea is: Don’t get too greedy and also to exit at the right time, so generally I do find having an adviser very helpful, because what Avg. Joe really has time to watch and comprehensively analyse the market.
I had problem comprehending trading in general. I tried watching other YT trading channels, but they made the concepts more complicated. I was almost giving up until when I discovered your channel. I love the way you break down the content and explain everything in detail. The videos are easy to follow
I've been making a lot of losses trying to make profit trading. I thought trading on a demo account is just like trading the real market. Can anyone help me out or at least advise me on what to do?
Trading on a demo account can definitely feel similar to the real market, but there are some differences. It's important to remember that trading involves risks and it's normal to face losses sometimes. One piece of advice is to start small and gradually increase your investments as you gain more experience and confidence. It might also be helpful to seek guidance from experienced traders or do some research on different trading strategies.
I will advice you should stop trading on your own if you keep losing.
If you can, then get a professional to trade for you I think that way your assets are more secure.
I'd recommend Sina Ano Bubb, her profit is great even when there's a dip
Successful people don't become that way overnight. What most people see as a glance of wealth, a great career, and purpose is the result of hard work and hustle over time. I pray that anyone who is reading this will be successful in life
Wow thank you for your kind heart, I really find it difficult to trade myself am looking forward to find an Exprt to help me out when I ran into you
imagine investing in Btcoin earlier.... You could have been a multi millionaire precently
@@thylda7877You are right. Been thinking of going into gold and cyptocurrency
Assets that can make you rich
*FX
*Btcoin
*Stocks
*Gold
*Real estate
You’re right but a lot of people remain poor due to ignorance
Great content but losing your hardware wallet does not lose your crypto. Take your ledger and throw it in the ocean. Buy a new ledger, restore your private key, and your back in business.
Exactly! It’s all about your seed phrase.
Yes, lose your private key and you’re cooked.
Which shows you how pointless ledgers are and how they are a waste of money.
@@user-sq2ns6wo2f lol you clearly have never taken self custody of bitcoin with a dumb comment like this. Thats the point goofball. No worries if the device dies after 10 or 50 years. Or if the software is no longer available aka LEDGER LIVE. You can then go acquire ANY bitcoin cold storage device. type in the 12 or 24 word sha 256 seed phrase and have access to all the wealth sent to those private keys..& theyll even be in their specific folders that you put them in.
OP, pin this please
Your crypto is on the blockchain not the hard wallet or computer. You can lose the wallet and as long as you have your seed phrase, you can purchase a new wallet to access to your crypto.
Hit 200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with 14k in last month 2024
^^^^
Wow that's huge, how do you make that much monthly?
Devion Jane expertise is truly commendable.
She has this skill of making complex crypto concepts easy to understand.
Woah for real? I'm so excited. Devion Jane strategy has normalised winning trades for me also. and it's a huge milestone for me looking back to how it all started
I'm new at this, please how can I reach her?"
she often interacts on Telegrams
Nice video. Can you offer advice on how to make profits in Bitcoin or Forex investments? I've been dealing with continuous losses in my account.
Investing without a solid understanding of the market is ill-advised. I suggest seeking advice from Expert Rosie for guidance.
It's quite a coincidence. Rosie has also been overseeing my trades, and her strategies are truly remarkable.
When someone is direct and proficient in their work, others will always advocate for them. In my opinion, I would recommend giving expert Rosie Harley a chance, and you'll be glad you did.
Rosie has certainly established a strong reputation. Thanks to her strategies, I managed to purchase a comfortable apartment in the USA.
I'm not here to converse for her but to testify just for what I'm sure of, she's trust worthy and best option ever seen
I always wanted to trade crypto for a long time but the volatility in the price has been very confusing to me although I have watched many TH-cam videos about it but still find it difficult to understand.
Trading is easy, but trading the right coin without a time-tested strategy is incredibly hard.
How can someone know a professional broker when legit once are hard to find this days
Trading with Kate Herman trading analysis
Greetings from Australia
!!! Does she offer mentorship tutorials?
She carries out both orientation and mentorship tutorial
Bitcoin is on its way to breaking records, getting closer to hitting new high prices, showing that it's gaining more value and could go even higher than we've seen before. This could mean great things for people looking to invest, suggesting now might be a good time to get involved before it jumps even higher. It's an exciting moment that could change the game in general...managed to grow a nest egg of around 2.3B'tc to a decent 27B'tc....At the heart of this evolution is Francine Duguay, whose deep understanding of both cryptocurrency and traditional trading has been instrumental. Her holistic approach to investment and commitment to staying abreast of market trends make her an invaluable ally in navigating this new era in cryptocurrency investment.
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing....
What I appreciate about Francine is her ability to tailor strategies to individual needs. She recognizes that each investor has unique goals and risk tolerances, and she adapts her advice accordingly.
In a field as rapidly evolving as cryptocurrency, staying updated is crucial. Francine continual research and adaptation to the latest market changes have been instrumental in helping me make informed decisions.
Investing has proven to be an incredibly beneficial decision. My cryptocurrency profits continue to play a substantial role in growing my overall wealth, reducing my reliance on my salary…
Reason i invest in the crypto market; to make my money work for me, to prevent inflation from eroding my savings.
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Michelle Stewart.
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
She is my family's personal Broker and also a personal Broker to many families in the United states, she is a licensed broker and a FINRA AGENT in the United States.
I'm new at this, please how can I reach her?
The first time we had tried, we invested $1000 and after a week we received $4,830. That really helped us a lot to pay our bills.
You trade with Michelle Stewart too? Wow that woman has been a blessing to me and my family.
Hit 200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with 14k in last month this 2024 investing with Rebecca Hickman.
She is my family's personal Broker and also a personal Broker to many families in the United states, she is a licensed broker and a FINRA AGENT in the United States.
You trade with Rebecca Hickman too? Wow that woman has been a blessing to me and my family.
SHE'S MOSTLY ON TELEGRAMS, USING THE USERNAME
Hickman109 💯 ..that's it
when someone is straight forward and good at what she does best. People will always speak for them. For me I can would say give Rebecca Hickman of finance education a try and you be happy you did
I lost over $80k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Kimberly Smith
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
She is my family's personal Broker and also a personal Broker to many families in the United states, she is a licensed broker and a FINRA AGENT in the United States.
You trade with Kimberly Smith too? Wow that woman has been a blessing to me and my family.
I'm new at this, please how can I reach her?
she's mostly on Telegrams, with the user name.
I’ve been making a lot of losses trying to make profit trading. I thought trading on a demo account is just like trading the real market. Can anyone help me out or at least advise me on what to do?
I will advice you should stop trading on your own if you keep losing.
If you can, then get a professional to trade for you I think that way your assets are more secure.
I’d recommend Trisha Davis, her profit is great even when there’s a dip
you dont need to be shocked haha because i'm also a huge beneficiary of her
I've seen a lot of positive reviews about this professional, she must be exceptional for people to talk about her goodness
My wife and I net-worth was 62k April 2020.
Just hit 550k this week
Where did you invest? I'm just trying to learn where or how do I begin so I can start the journey of compound interest. I am 24 and have saved some money, I just do not know clearly where everyone seems to know to put their money. It just says S&P 500 but I don't understand what that
means
I'm 33 just got out of debt I might be behind compared to my peers I'm not happy but satisfied that I’m debt free only want to focus on investing I would appreciate if you recommend your advisor for the right knowledge
Have you not heard of Amelia Jason !
You know her too ? I'm also a proud beneficiary of her superb platform. There are the biggest custodians. After this I also would not be asking investing advice in the TH-cam comments. 80% are scammers.
In reality, Bitcoin crashes and rises with the tech Market. Crypto has opened doors for global financial inclusion. It's time for more equitable world!❤
This feels like a 30 min infomercial for their tax services. They talk a lot, but the only thing they really say is “hire us” 😂
As always, a great analysis. Newcomers often wonder if it's too late to navigate the financial market, but the market is always unpredictable. Trading has more advantages than simply holding, so it's important to learn before diving in. Active trades are necessary to ride the market's waves. Thanks to Michelle Stewart insights, daily trade signals, and my dedication to learning, I've been increasing my daily earnings, managed to grow a nest egg of around 127k to a decent 632k. Kudos to the journey ahead!
I'm surprised that this name is being mentioned here, I stumbled upon one of her clients testimonies on CNBC news last week...
Michelle Stewart strategy has normalised winning trades for me also. and it's a huge milestone for me looking back to how it all started
YES!!! That's exactly her name (Michelle Stewart) so many people have recommended highly about her and am just starting with her 😊 from Brisbane Australia🇦🇺
I'm new at this, please how can I reach her?
Their
...services are very genius and experienced in the market for over a decade and counting, they changed my life from a poor plumber to a better and middle class family man with 2kids.
This seems like the worst period.
Even the market are now very unpredictable. Started investing recently when the market prices were a bit high,today I am more than 60% down!
I agree just reached my goal of $500k monthly trade earnings. Setting realistic goals is an essential part of trading
Please educate me, i'm willing to make consultations to improve my situation,
Yeah, 123k from catherine adriana. , looking up to acquire a new House, blessings
...
Please how do I find this financial counselor?
I'd love to know this mentor of yours
I'll always be grateful to you because you completely transformed my life. I also preach about you to everyone I know, telling them that you prevented me from incurring enormous debt with a mere little expenditure. Regards, Mrs Ann Elizabeth Messer
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
She is my family's personal Broker and also a personal Broker to many families in the United states, she is a licensed broker and a FINRA AGENT in the United States.
You trade with Elizabeth Messer too? Wow that woman has been a blessing to me and my family.
Please let me know how to contact her as I'm new to this.
I was skeptical at first till I decided to try. Its huge returns is awesome. I can't say much
I usually look up your videos for updates! Our government has no idea how people are suffering these days. I feel for people with disabilities not getting the help they deserve.
Thank you mrs Lauren Hopkins, imagine investing $12,000 and received $305,500.
Crypto Bull run is making waves everywhere and I have no idea on how it works. What is the best step to get started please?
Wow, that's more than a mouthful of profits you're making. How do you achieve this feat consistently? You must be a genius in trading.
Have you not heard of Mrs. Lauren Hopkins?
She has this skill of making complex crypto concepts easy to understand and is truly commendable
You know her too? I'm also a proud beneficiary of her superb platform.
Loved "Crypto Grandma" 😃 I particularly enjoyed the importance of educating future generations about financial opportunities like Roth IRAs and crypto investments. Thankyou for offering a clear roadmap for long-term success in the crypto space while also highlighting the importance of staying informed, compliant, and strategic.
Thank You for this update ! 😎😎😎
Minute 09:00. If you lose your hard wallet you haven't lost your crypto, just the device. You can buy a new cold wallet device and use your seed. The seed is the crypto.
I love this. Both of you seem incredibly knowledgable in this space and I appreciate the advice and may use this service.
Thank you for making this video , please make more videos like this !!
Thank you very much gentlemen.
You guys are freakin’ amazing!!! Many thanks for this invaluable content! Love the self directed ROTH IRA LLCs- incredibly vehicle!!!!
Thank You !
Mark J. Kohler's videos are a treasure trove of invaluable insights and wisdom! His multifaceted expertise in tax, legal, and wealth management makes him a go-to resource for navigating the complexities of personal and small business finance. Mark's engaging delivery and practical advice have significantly enhanced my understanding of wealth-building strategies
You mention your advisor & that caught my attention. I'm eager to learn more and potentially seek her guidance. Could you share how I can get in touch with her???.
Thanks so much. I was able to find her page and I already leave her a message!|
Great information and Great Video..😮 thank you
Can you attach a link for a copy of the Top 10 list?
Correction.... You don't need your wallet when you have your 25 word phrase.😂 Great vid tho.
Great video. So much information to learn
I see conflicting information about wash sales on crypto which would not allow for the loss to be taken if immediately repurchased.
Is there a change anticipated for 2024 that make crypto wash sales the same as stocks?
Great alpha. Thank you gentlemen.
Great info guys
Do you have representatives in the UK?
Would love to hear a Canadian version of this advice
I definitely want a consult when am ready .. but I swear I was thinking about this today and your video popped up..
You’re great attorneys
Would you all recommend opening a business account to trade crypto short or long term ?
How can I make more profit from crypto market? 🤔
I would suggest holding, but there are better options like day trading
Do you guys cover Uk
Great advice, thanks!! I need to start a crypto IRA ASAP!!
for the nano ledger you can lose your thumb drive and still have access to your crypto… ask long as you have your keys written down u can access from a different ledger.
Chat gpt is about to make their pricing a lot more competitive 😂
I’d just hold and sell at a long term capital gain, buy some real estate in the same year and take all the deductions you can. IMO
someday if you hold bitcoin i guess you can use it slowly to eat somewere
Think not. When I did my taxes a question is do you have money in a crypto account
How would they seize your crypto if it’s in a decentralized wallet with no social or id connected?
you are talking about illegal activity and committing purgery in court to try and hide your assets. how is that protecting yourself?
I’m just asking how they would be able to find it
and i told you how they would seize it. that was your actual question.t here are also other ways. how are you gonna transfer it to a bank account so you can actually spend it? also, it depends on the crypto. bitcoin is on a public ledger that anyone can access. the transfers can be traced. what about exchanges that are being reglulated now. any decent exchange is going to be tracked by a government and any exchange that wont comply to release those private records isn't worth doing business on and is shady as fuck and more capable of going out of business like ftx. there are many ways. your keys your crypto...yea until the law is involved and wants it. then, technically you can still hide it....but most people aren't smart enough. you know how many dumb criminals there are in jail right now? ALL OF THEM.
@@breezybandztvI think using your IP address unless you use vpn which can also be detected depending
@@anwiii55
True but what he's asking is how can they seize it? (all the stuff you mentioned are just ways they can track your crypto but unless you keep all of your crypto on a centralized exchange "like coinbase" there is no way they can seize your crypto) yeah sure , the cops can take your hard wallet or your phone or lap top but once you buy a new one and set up your wallets again with your seed words, BOOM, all your crypto is back in your new wallet.
Mark Kohler aka the Robert Downey Jr. of tax advice.
Do you guys have offices in either Jacksonville, FL, or Savannah, GA?
What if someone lost their bitcoin Ethereum in BlockFi interest account can the gain from bitcoin be use for tax write off purpose on this year
Will this work in Australia
coordinate with exit tax?
The John Wick bit earned my 'Like'
Mark, the SEC is going after coinbase, I heard they're in a law suit, what are your thoughts?
Question about Itrust capital.. At 59 1/2 when I can cash out, is it all tax free or is it just no capital gains but I have to pay Income tax on what is pulled that year?
Where can I find your book?
It would be great if you had a deep dive on the AMX98K
What about a compensation funded like if you are investing with funds coming from disability? Is there something to protect for that?
Crazy good luck today. I accidentally touched the thumbnail of this video while scrolling through my feed and am very happy I did.
Wow you know the term "node operator". I officially trust you sir.
What about Liqudity Farming? Is that treated like staking? basically earing fees for providing liquidity.
❤ this show😂🤩
Hey Mark, I want to set up a trust to hold my house and crypto.. can you help me?
If I use a collateralized loan on my crypto will that shield me from taxes?
If i sent USDC to my brother how is an American citizen and lives in USA, will he have to pay tax when he off ramp to US dollar?
Also if my brother sends me USDC does he has to pay tax the moment he sends?
How can I open a Roth IRA if I don't live in the United States?
What an incredible 🎉
If I move to Ohio as a green card holder in July, will my crypto investments be taxed?
Awesome !
Can you do this with Kraken or Coinbase?
CRUT question :
Let's say we put 1mil in to this trust . charity gets 10% you have 900000 to pay yourself in 20 years but you are paying ordanary income tax on this 900000k distribution which could be up to %37 tax. WHY NOT pay long capital gains instead ??? I'm also assuming nothing grows in that 20 years
you are forgetting the tax write off you will be getting which will be reducing your tax liabilities. also you aren't getting paid in one lump sum. this is over many years if that's the only ordinary income you have, you are going to be in one of the lower income tax brackets. i don't understand it fully myself but that's the jist i get...
@Mark kohler, i would also mention, keep your crypto wallet in its original box, and wrap it in multiple layers of aluminum foil, and store inside a EMP sheilded anti-static bag in side the safe. That way if a serious EMP goes off, your crypto wallets protected.
Great Video! "Trading is the hardest way to make easy money! But once you learn the skill you can and will change your life!"
I'm favoured, $60k every week! With the help of TRAVIS SAMANTHAI channel, so now I can give back to the less privilege in my state and also support God's work and the church. God bless America.🇺🇸
I agree that there are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors with experience.
TRAVISSAMANTHA1 goes deeper than just looking at surface-level trends. She explores technical, fundamental, and sentiment analysis, offering a comprehensive perspective on the market..
TRAVISSAMANTHA1 strategy has normalized winning trades for me and it's a huge milestone for me looking back to how it all started.
A major distinction between winning and losing is using the right strategy and of course with signals like those of TRAVISSAMANTHA1 , profit is assured.
just to correct what you said about someone who lost their hardware wallet, that doesnt actually hold any crypto in it. it merely holds the keys. your seed is the more important part, bc you can reload the wallet as long as you dont lose that. your crypto never leaves the blockchain, so it never actually goes into a hardware wallet. minor misunderstanding
Ok, I'm 60 years old and only have social security to retire on and I have 1/2 of a bitcoin I bought in December of 2023.
I am praying this bull run will be a God send to help in the next couple of years.
Do I need to convert to a Roth IRA to avoid capital gains if I need to withdraw in the next couple of years?
Also do you have a crypto tax advisor in orange county California?
You'll pay the taxes upfront if converted to a roth. I would highly advise you do it before the price runs up in the comming weeks to months. Itrust is a reuputable online one but they charge about a 1.2% fee for each buy/sell. Fidelity crypto has a bit better rate and especially spread.
@@CL-gv2fx thank-you for replying. Truly appreciate it
BIG QUESTION HERE: WHAT CRYPTO are we purchasing with a Roth IRA??
Why doesn't the 1031 exchange apply when trading one crypto for another....... Why does it trigger a "Sale"
Great video guys. I have a Solo401k Trust and would like to start buying some crypto. Can't I just set up an account at a crypto exchange with the trust (using the trust name and EIN number) and buy crypto DIRECTLY with the trust? Or should the trust own an LLC that purchases from the exchange? Besides assets protection, is there ANY advantage to buying crypto through an LLC versus the more direct method of buying it through the trust? And does the LLC need to be in place first - or could I set it up later once I've built up some assets?
the crypto part was interesting but im more interested in the statement he made "we're not all gonna live forever"....so some people are? who? how? this i must know
I’m new in crypto..How often do you pay crypto taxes after selling any assets over $10,000?
What IRS regulation governs crypto??? Give me a law and number that can be researched.
Yea you were not exactly right on #8 hardware wallet. You don’t need your hardware wallet to access the crypto there. As long as you have the seed phrase you can restore the content of a hardware wallet to a new one without needing physical possession of that hardware wallet - the key is the 12, 14, 20 or 24 word seed phrase.
Dear Attorneys Sørensen & Kohler, may I hire either of you to be my crypto tax lawyer? Just kidding, all my crypto earnings would go to pay your fees! 🤣 Great professional advice! All crypto lovers should use *_all possible means_* to pay Uncle Sam as little as is *_legally_* possible. 💕☮🌎🌌
one can restore your bit coin wallet to any compatible wallet as long as you know your 12 or 25 word key words… even if you completely loose the original wallet
If crypto has not been regulated yet then who’s making these rules??
seriously sounds like they want to create bullsht
Recognizing that you’re trying to simplify the situation but seems like most of your target market would understand that you can loose your hardware usb and still recover your keys/crypto fr a hardware wallet. so long as you retain the seed phrases-you imply that if you lose the usb your out of luck - less true than an encouragement to make sure you don’t lose your recovery phrase that comes w the ledger -obvi yuu guys know this but just putting it out there for newer folks to the space
Love the legal advice but the tech explanations are flat wrong. See 09:30, you don’t need the actual hardware wallet to retrieve your crypto as long as you still have your seed phrase. You can literally download any wallet, put in that seed phrase, and instantly have full access to the crypto in that old wallet. Protect your seed phrases at all costs!
Can you do Crypto in 529’s?
Depends on your finances . 1000$ in Solana is 4000 AMC200F$ if it goes to 50% of ath in 2024 thats a 600% gain. If it goes equal to ath . Its a 1200% gain.
Just a comment @ 9:23"If you don't have your hard wallet, you don't have your crypto"
That is inaccurate as you can setup another hard wallet with your recovery phrase, making the lost or stolen hard wallet inactive. (Although there is a risk of someone guessing the pin if it is stolen - 8 digit pin, not the seed phrase)
Also... "it's in there, it's in the computer"
This statement is somewhat misleading if taken literally. Cryptocurrency funds are not stored "inside the computer" OR on the hardware wallet. Instead, they exist as entries on the blockchain.
It's not so much "the little thumb drive thing" that is important as it is the seed phrase which needs to be stored securely and can be used to setup another device to manage your funds.
Somewhat disappointing coming from said professionals.
What? Lost a hardware device and can't get crypto? Did they lose their seed phrase?
Im holding around 90k usd in crypto and in india unfortunately the government doesnt let you offset your losses against your gains like in stocks 😢 so just hodling instead of trading.
Taxes suck!! Thank you!❤
Slothana is the future of DeFi, mark my words!🌟🎇🎆
Thank you for the video ! Do you believe that AMX98K will be the main pump in 2024? I mean they prepared it for a long time and the vision is beyond greatness
If you lose or damage your hardware wallet. You can still recover your crypto on a new device using your seed phrase.