Here’s how to keep your crypto safe during uncertain times.
Also, if the developer chooses to remain anonymous or the project seemingly appeared out of nowhere, this could be because the developer is malicious and trying to execute a rug pull as a quick money-grab scheme.Cryptocurrency platforms make for appetizing targets for a handful of reasons — many of which align with other financial cyber crimes, such as targeting banks and their customers.
There’s also a particular type of individual who chooses to invest in cryptocurrencies, especially less established ones, to take on higher risk for potentially higher reward. This opens the door for aggressive social engineering and [the creation of] fake apps that either look real or promise higher returns and more real-time data.
Despite the “Wild West” regulatory environment, crypto investors can face severe penalties should they be found to be non-compliant with their tax obligations — so, keeping your tax affairs in order is essential to protect your hard earned funds. Suppose you live in a residential tax country, like Germany, Canada, Australia, or pretty much every Western country other than the U.S. In that case, that is where they tax you based on your residence, and they tax you based on your worldwide income.
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