These wallets can be hardware or software and they provide several other benefits to traders besides secure crypto storage.

In this guide, let us take a look at some of the best cryptocurrency wallets you can choose from in 2022.

Coinbase

Coinbase is a perfect crypto wallet for beginners for its security and intuitiveness. It offers two options to choose from depending on your level. If you are a beginner, you can store your crypto in a web wallet that can be accessed through your browser. The website is protected with multiple protocols including two-factor authentication for each login. Another option is to download the app to access a non-custodial wallet.

Coinbase app features an easy-to-navigate interface with a simple layout and clear functions. It serves over 100 countries and 35 million people and can store digital collectibles and NFTs. It supports over 500 crypto assets and can connect to almost any bank account for easy trading. With this wallet, you get in-app access to a decentralized exchange where tokens can be converted without intermediaries.

Binance

If you are in search of a secure place to store your cryptocurrencies but also want to access powerful trading features, Binance is a perfect choice. This wallet can double up as a centralized exchange that gives you access to more than 1000 markets covering virtually every digital currency from DeFi tokens to large caps. It offers some of the most powerful crypto trading features including staking, Options, and Futures.

The wallet app can be downloaded for free on Android as well as iOS devices and the app links to your Binance account. The platform implements security features like device and IP address whitelisting to prevent any unauthorized access to your wallet. You can use the app to buy and sell digital currencies at a commission rate of only 0.10%.

Kraken

If you prioritize convenience when looking for a cryptocurrency wallet, Kraken is a good option. The provider offers a crypto exchange platform that facilitates buying, selling, exchanging, and investing crypto assets. At any point, you can convert your assets to another token without having to send them to another exchange.

Kraken is one of the oldest Bitcoin exchanges and comes with support for over 120 coins in more than 150 countries. It also supports crypto futures and spot trading. It utilizes several security features like air-gapped cold storage, SSL encryption, 2FA withdrawal email confirmation, and strict surveillance.

Mycelium

A well-established crypto wallet focused on Bitcoin, Mycelium is one of the oldest in the market. It is a mobile-only software wallet that continues to be the perfect option for iOS and Android users. Mycelium has a simple user interface where you can quickly find all the options to manage your crypto tokens securely. The non-custodial wallet boasts powerful features like spending accounts and cold storage integration and gives you complete control over transaction fees.

The Mycelium app is open-source and has partnered with different providers to offer financial services. It also has a decentralized exchange where users can interact with one another and trade crypto securely. It uses several levels of PIN protection and strong security protocols to protect your digital assets against any intrusion. For advanced users, it allows setting custom transaction fees, supports QR codes, and facilitates compatibility with several hardware wallets.

Ledger Nano X

The second-gen cold storage wallet from Ledger, Nano X boasts an integrated Live platform supporting over 1800 tokens and coins including ether and bitcoin. The wallet supports USB cable and Bluetooth connection to work with computers and mobile devices. It has a sturdy build and features an LED screen. To get started, you set a PIN and a seed phrase which acts as your private key.

Ledger Nano X utilizes certified chips to store private keys so that they are protected against any theft. You can use the app on your mobile device to quickly view your balance from anywhere. Apart from trading, it allows lending and staking crypto to make some money.

Zengo

Designed to be one of the simplest crypto wallets in terms of setup, Zengo is an ideal choice for beginner and intermediate investors interested in making quick purchases. The non-custodial wallet employs next-generation security protocols to ensure the complete safety of digital currencies. The product comes from an innovative company that aims to solve the serious problem of passwords and private keys.

The keyless mobile wallet is built with an extreme level of security that makes it impossible for hackers to get access to your storage. It combines several technologies including facial biometrics to keep your wallet hack-free. Zengo lets you buy and sell crypto from within the wallet and even allows earning interest on holding.

Crypto.com

An excellent crypto wallet for users interested in using digital currency and not just holding it, crypto.com is one of the fastest-growing cryptocurrency exchange platforms. It comes with support for over 250 coins and allows buying, selling, and holding a variety of crypto with competitive trading fees.

The platform was established in 2016 and currently serves over 10 million users from more than 85 countries around the world. The site uses cold storage, a 2-step verification system, and a host of other security features. It boasts an easy-to-use interface and responsive customer support.

Final Verdict

These are some of the most popular cryptocurrency wallets that facilitate storing and trading your crypto assets securely. While there are several other options available in the market, it is advisable to choose the one that employs state-of-the-art security features and suits your usage requirements.

The post Best Cryptocurrency Wallets of 2022 – Full Guide appeared first on TechInfoSite.

Bitcoin is the largest cryptocurrency by capitalization but is as volatile as others. Trading physical tokens forces the trader to exchange them at their present price.

However, like any other financial instrument, there is a way to hedge and speculate on the future prices of Bitcoin – in the form of Futures Contracts. In this post, let us try to understand what Bitcoin Futures are and whether they are an effective way of trading in cryptos.

What Are Bitcoin Futures?

A financial derivative product, futures is essentially a contract between two parties where they agree to buy or sell a digital asset at a price decided in the contract on an agreed date in the future.

The price of the contract keeps changing over the period from everyday trading activities. When talking about Bitcoin Futures, the underlying asset is Bitcoin. These futures have a selling price, a future price, and a maturity date.

Uses of Bitcoin Futures

Bitcoin Futures allow traders to hedge against volatility in the market and provide them a way to buy or sell the crypto at a predetermined price in the future. Rather than buying and selling Bitcoin which requires setting up a cryptocurrency wallet and using exchanges, futures lets traders gain exposure to the digital currency and benefit from the price movements.

Bitcoin futures allows tracking price movement of the crypto asset without using a digital wallet. They also let you hedge against the future price of the currency. Another benefit of futures is leveraging through margin account for higher potential gains. Moreover, bitcoin futures are tradable and hence quite liquid.

The primary job of Bitcoin futures is to allow speculating on the future price of the coin. This means you can buy a futures contract if you expect that the price of Bitcoin will be $50,000 after three months. If the price stated in the contract is $30,000, you would be able to buy Bitcoin at this price instead of the market price and thus earn money. Bitcoin futures contract is traded on the Chicago Mercantile Exchange (CME).

How Bitcoin Futures Work?

Futures work differently as compared to trading in funds, stocks, and other fixed-income vehicles. Bitcoin Futures involve no exchange of physical coins; you speculate on the price of the asset and not buy or sell the underlying asset itself.

There is also no need for a cryptocurrency platform or wallet. Futures contracts are settled on the expiry date or offset by traders as they exit their positions before the date.

If a trader holds a position in bitcoin futures and the market price of the coin increases the price in the contract, he receives the difference as profit; he bears the loss if the price moves otherwise.

The three primary components of a Bitcoin Futures contract are:

Expiration Date – This is when the futures contract should be settled. It is the agreed date on which the parties should buy and sell the asset at the pre-decided price. However, traders can sell their contracts to others before this date if they want.

Units per Contract – This varies between platforms and is a specification of how much Bitcoin a contract has. For example, a CME bitcoin futures contract equals five bitcoins.

Leverage – Traders are allowed to borrow capital and expand their trade size to increase the potential gains from their futures bet. Different platforms have varying leverage rates.

Traders can settle Bitcoin futures in one of two ways.

Physical Delivery – Upon settlement, the buyer can choose to receive physical bitcoins.

Cash Settlement – In this method, there is a transfer of cash between the two parties upon settlement.

Crypto-based futures products have gained massive popularity in the past few years. Today, you can find a number of traditional as well as crypto-based platforms that allow trading in bitcoin futures. Some of the most popular platforms in the market include CME, BitMEX, eToro, FTX, Kraken, Bybit, TD Ameritrade, Deribit, and more.

Risks of Bitcoin Futures Trading

While there are so many benefits of trading Bitcoin futures like leveraged trading to boost potential gain and indirect exposure to the currency, this trading method also has some risks associated with it that traders should be aware of. The primary risks are liquidation and margin calls.

Trading with leverage involves borrowing funds from the exchange you trade on to increase the size of your trade and your gain. A platform doesn’t let you borrow without putting in some kind of insurance in case the trade turns against you.

This is called the ‘initial margin’ a trader needs to set aside before entering a leveraged trade. The margin is kept in a margin account and a maintenance margin must be kept ready for deposit in case the initial margin runs out.

In case the market goes against the trader, the margin account gets quickly depleted and something called ‘liquidation’ takes place whereby the trader’s position is automatically closed by the exchange and the initial margin is taken up.

Looking at the high volatility of the crypto market, it can be said that there is always a high risk of getting liquidated and losing all your capital. Investors can always keep refilling their margins to keep the positions open in a hope of getting the desired price movement, but this further adds to the risk.

Final Thoughts

Bitcoin is the biggest part of the growing cryptocurrency landscape. Bitcoin futures provide investors an opportunity to make a profit from future price movements of the asset without having to hold it physically. However, one should understand the obligations of a futures contract, volatility of crypto assets, and risks associated with this trading method before investing in Bitcoin futures.

The post What Are Bitcoin Futures & Should You Trade Them? appeared first on TechInfoSite.

In these years, several companies have offered crypto trading platforms to trade in digital currencies. One of the most popular names in the arena is Binance; it has grabbed investor attention with a lower fee compared to many other exchanges.

In this review, we cover everything you need to know about this cryptocurrency exchange to help you find out whether it is worth giving a try.

Binance Review – UPDATED 2022

Founded in 2017 in China, Binance is one of the biggest cryptocurrency exchanges in the world, offering more than 500 cryptos for trading at highly competitive prices. It is the largest platform by volume and accepts users from around the world.

With an advanced trading platform, a huge range of features, and the vast amount of transactions it supports, Binance impresses crypto investors of all levels.

Services Offered

Binance is a fully-featured trading platform that gives access to a wide variety of options and products to invest in cryptocurrencies.

Users can place trades through the website, mobile application, or desktop app and use the platform to view trade history and portfolio. Binance provides different trade types as well as charting tools to give you complete flexibility for your crypto trading.

Here are the primary services offered by Binance.

Exchange

The crypto exchange lets users exchange between cryptocurrency and fiat currency in several ways. One of the most impressive options is the peer-to-peer trading service that connects buyers with sellers and facilitates fiat payments with support for multiple payment options.

Binance also partners with Simplex to provide a brokerage service for credit/debit cards. With this service, you can buy different cryptos using a card and also use the card to deposit fiat currency.

Binance also has third-party integrations that facilitate users to buy digital currencies with SEPA and wire transfers.

This service is particularly impressive because bank and SEPA deposits cost no transaction fee. Lastly, a privacy-focused web browser named ‘Brave’ integrates a widget to allow in-browser trading with Binance with the ability to view and manage the crypto portfolio.

Trading Platform

Binance offers a simple way to trade in cryptocurrency with an impressive selection of trading pairs including Ether, Bitcoin, DOGE, BNB, DOT, and others.

You can also find a wide range of crypto-fiat pairs on the platform. Users can pick between the basic and advanced interface for spot trading. Binance also offers derivatives, margin, OTC, and P2P trading options.

Futures & Derivatives

This section of the trading platform lets traders speculate on the prices of popular cryptocurrencies with up to 20x leverage which means you can multiply profits by 20 times.

The user interface for futures and derivatives is quite similar to spot trading except for a few additional features for viewing open positions and controlling leverage.

Financing

Binance also offers several financing options as a part of its services. ‘Savings’ allows users to make a profit from their idle funds with two different types of accounts – Flexible and Locked. You get variable interest rates on flexible savings accounts while locked accounts pay higher rates on fixed-term deposits.

There is also a staking service where you can get returns on Defi and proof-of-stake coins without any prior knowledge of staking the coins yourself. Just like savings, the staking service also offers account options.

Binance also has a ‘Smart Pool’ where miners can contribute to a mining group and get a part of the rewards. Apart from these, you can find finance tools and services including loans, Visa card, and others to do more with your cryptocurrency.

Supported Countries and Currencies

Binance offers over 500 cryptocurrencies for deposit, withdrawal, and trading on the platform, including some of the most popular ones like Ripple, Litecoin, Ethereum, Bitcoin, Binance Coin, and more. It also supports a wide variety of fiat currencies including AUD, USD, EUR, INR, GBP, and others. You can trade crypto for fiat currency on the trading platform or purchase using a variety of payment methods.

The exchange does not clarify exactly which countries it supports and restricts but it is available in most parts of the world with a few exceptions. Users living in the United States should use the US version of the platform as the company has withdrawn its primary service from the country after regulatory issues.

Customer Support

Binance offers comprehensive customer support with a dedicated FAQ section where you can find answers and solutions to the most common problems you may face regarding the crypto exchange and trading. If the FAQs don’t help, you can use the automated bot to find the answer to your query. You can also choose to submit a request to have a live chat with a support representative if you need further assistance.

Fees

Binance charges some of the most competitive fees in the landscape. Though US-based users pay a little higher on the dedicated website, the overall price is lower than what most other trading platforms charge. The exchange uses a maker/taker fee arrangement whereby the charges vary by trading volume. You can expect to pay lower fees for high-volume trades on the platform. Binance charges some other fees for different types of withdrawals and payment methods.

Pros

• Large number of tradable cryptocurrencies
• Wide selection of trading options
• Some of the lowest fees
• Educational material available on the website
• Tax statement portal for easy crypto taxing
• Well-designed platform with a plethora of features

Cons

• Can be difficult to learn for new users
• Faces concerns regarding safety and regulation
• Limited customer service options
• S. version is limited

Summary

Taking a close look at different aspects of Binance, it is easy to say that the pros far outweigh its cons. The low fees of the crypto exchange combined with the thoughtful design of the trading platform make it a leading player in the market. Binance certainly beats its competitors in terms of the daily trading volume; add to this the diverse offerings and advanced trading options and you can understand why it is a preferred choice for experienced global crypto traders.

The post Binance Review – The Crypto Exchange With The Lowest Fees appeared first on TechInfoSite.

However, this exchange is known to offer a smaller selection of cryptocurrency options and lower liquidity as compared to others.

In this review, let us cover the important aspects of Bitstamp from features, security, and trading fees to its merits, limitations, and more to help you determine if you should trade cryptos on the exchange.

Bitstamp Review – Updated 2022

Bitstamp has been around since the advent of cryptocurrencies themselves. It was founded back in 2011 and is currently based in Luxembourg. It operates in more than 100 countries and has a vast user base of over 4 million customers around the world.

Through this platform, you can trade in 54 of the most popular cryptocurrencies including Litecoin, Bitcoin, Ethereum, Ripple, and more. Users can trade crypto with its basic or active trading platform available on the web as well as mobile apps.

Though crypto trading is volatile and risky, Bitstamp does a great job at keeping users secure while providing them a user-friendly investing experience.

Traders can fund their accounts and withdraw their profits using a variety of methods including credit/debit card and bank account. The platform also offers an extensive collection of educational material, dedicated customer support, and powerful trading tools to enhance the experience.

Features

Here are some features the Bitstamp cryptocurrency exchange offers.

Ease of Use

Trading on Bitstamp is easy with its comprehensive platform that helps you learn quickly how to buy and sell cryptocurrency.

The user interface is designed to be simple and intuitive and makes it easy to navigate to instant funding options. The account registration process is simple, resembling most other exchanges.

Advanced Platform

Apart from the regular platform, BItstamp offers an active trading platform called Tradeview with more advanced trading forms, depth chart, live updated order book, and advanced charting features.

A great thing about the exchange is that the trading fee remains the same whether you use the regular or advanced platform.

Competitive Fees

Bitstamp offers best-in-class trading fees with a straightforward fee structure where your fees depend on your 30-day trading volume.

The highest fee you pay on the platform is 0.5% for those who have a trading volume under $10,000. Fees decrease if you trade more; high-volume traders can have their fees dropped to up to 0% on volumes of over $20 billion.

Support for Fiat Currencies

Bitstamp lets users buy cryptocurrencies with the use of fiat currencies like the British Pound, Chinese Yuan, US dollar, etc.

The exchange also serves as a fiat-to-crypto gateway for users in different parts of the world. You can use any fiat currency on Bitstamp for speculation.

Mobile App

Bitstamp offers mobile applications for the trading platform for iOS and Android devices.  On the app, you can view your account status and enjoy the convenience of trading directly from your smartphone.

The application supports most of the functions and options of the exchange so that traders can buy and sell crypto on the go.

How Bitstamp Works?

The crypto exchange facilitates buying and selling different cryptocurrencies and crypto investments. The platform comes with support for multiple payment methods including bank transfer, credit/debit card payments, and international wire transfer for deposits and withdrawals. The exchange can be accessed from a web browser or as a mobile application on smartphones.

While the standard platform offers features that cater to most investors, it also has an advanced platform for seasoned traders.

You can buy and sell on the exchange with the limit, instant, market, or stop orders. You can make a purchase from your account balance or a linked card. You can also access purchase forms, basic charts, buy and sell offers, and other trading tools.

Cryptocurrencies you can Trade on Bitstamp

Though Bitstamp doesn’t feature the broadest selection of cryptos, it offers some of the most popular and the largest coins available. Some of the currencies you can find on the platform include:

• Ether
• Bitcoin
• Tether
• Litecoin
• Gemini dollar
• Chainlink
• Uniswap
• USD coin
• Bitcoin cash
• Stellar
• Ripple

Security

The platform is quite serious about user security after the hacking attack in 2015 that resulted in a huge loss. Bitstamp currently utilizes a two-factor authentication for the trader account and email confirmation for withdrawals. On the server-side, the company holds most of its funds in cold storage which is insured. It also uses the latest encryption standards to establish connections with the server. Bitstamp also gets periodic audits from reputed accounting firms to maintain its security.

Customer Support

Bitstamp offers users an easy way to report concerns through a ticketing system where you can expect a response in 24-72 hours. Though the company does not offer a live chat facility, users can use phone or email to contact the support team in case of any query or concern.

Pros

• Competitive pricing
• Easy to use
• Highly rated mobile app
• Available in a large number of countries
• Support for various payment methods
• Dedicated customer support
• Choice of charting tools
• Best-in-class verification and security practices

Cons

• Live support not available
• Expensive trading and deposit fees
• Limited cryptocurrency selection
• No margin trading or lending features

Final Thoughts

Overall, Bitstamp is the perfect solution for those who are looking for a regulated, licensed, reliable exchange for trading cryptocurrencies. The platform ticks all the boxes in terms of safety, security, and the availability of tools a crypto trader would require.

Some of the most impressive aspects of Bitstamp are low withdrawal fees for high-volume investors, a good market reputation, and fast execution. If you are an active trader focused on crypto assets, this platform can prove to be an excellent choice for you.

The post Bitstamp Review: Should You Trade Cryptos On This Exchange? appeared first on TechInfoSite.

In this review, let us take a closer look at the exchange to learn more about its offerings, benefits, and limitations. We discuss all you should know about Changelly before getting started with it.

Changelly Review – Updated 2022

Changelly is a cryptocurrency brokerage and exchange platform where you can buy, sell and convert between a large number of cryptocurrencies. It was introduced in 2015 with a focus on providing a streamlined, fast experience for crypto investors.

The company has since then expanded to serve over 2 million users per month and support more than 170 crypto assets. With an easy-to-use platform and a wide range of supported tokens, this exchange offers you an opportunity to trade profitably in cryptocurrencies.

Features

Ease of Use

Changelly’s intuitive interface and straightforward functionality make it easy to get started, even if you have never used exchange in the past.

You just need to enter the cryptocurrency you have in the wallet and the crypto you want to exchange it with. Changelly displays how many tokens or coins you receive after the swap and the exchange rate.

Once you fill out the order form, you can also see the network fee and the exchange fee to track how much you are spending before initiating the conversion. The service even provides you an estimated completion time based on the network condition and congestion.

Wide Range of Cryptocurrencies

With support for almost 200 types of cryptocurrencies, the exchange provides you with a simple way to buy and sell cryptos of your choice. It supports a huge range of coins and tokens ranging from smaller offerings like Komodo and Ravencoin to more popular Bitcoin and Ethereum.

It also comes with support for fiat currencies ranging from Egyptian Pound to USD to appeal to those who are new in the market. You simply choose your currency, specify the amount you want to invest, and receive the best market rates available and where you can use them.

Integration

Changelly integrates with a wide range of third-party wallet services including Edge, Exodus, Trezor, Jaxx, and Ledger.

Users who want a convenient way to control their keys for cryptocurrency would find this exchange ideal. You can securely exchange cryptocurrencies directly from the wallet without losing control of keys.

Mobile App

The crypto exchange offers a responsive mobile app available for download on iOS and Android devices.

The app has a user-friendly, intuitive design that allows users to convert between cryptos on the go. It even comes with options for fixed and floating exchange rates as found on the website.

Payment Options and Currencies

Changelly supports more than 140 cryptocurrencies, making it easier to exchange any two currencies quickly without any hassle.

While traditional platforms generally have a limited selection of trading pairs which requires users to make a number of transactions at times to get the desired crypto.

Changelly is different as it allows you to make your own trading pairs using the cryptocurrencies supported on the platform, in a single transaction.

Though the provider offers a host of options for making deposits and withdrawals between cryptocurrencies, it is quite limited when it comes to making transactions in fiat money.

Changelly has recently added support for fiat currency with the inclusion of credit/debit cards. This means you can make card purchases from any country in any currency but the transaction is done in USD or Euro.

Limits and Liquidity

With Changelly, there is no limit on the exchange of cryptocurrencies. You can convert one crypto to another as often and as much as you want; this creates a highly liquid market. However, there are limitations when buying crypto with fiat currency varying by nation and region.

For example, residents of Canada, US, and Australia can make the first transaction under $50 and the next purchase can be made in 4 days (less than $100) and for $500 after 7 days. While there is no monthly limit, you can’t make more than 3 payments in the first week.

People living in the CIS region, on the other hand, are limited to $200 for their first transaction. They can purchase after 24 hours with a limit of $2000 for the first week and $10,000 for the first month.

Users from the EU and other nations are limited to $100 for the first transaction. They can make another purchase of under $200 after 4 days and $500 after 7 days. There are no limits after this.

Supported Countries

Changelly accepts users from all the countries around the world and accepts payments in any currency but it gets converted into USD or Euro.

However, users from certain countries like North Korea, China, Bangladesh, Iran, Guam, and others cannot use the exchange for trading due to regulations surrounding cryptocurrencies. It is also not licensed to operate or regulated in the United States.

Privacy and Security

Changelly is an attractive option for those who like maintaining anonymity. The exchange does not require any verification or ask for any government documents like some other platforms.

You just need to provide your email that is never shared with third parties. The absence of verification steps ensures your identity is always safe.

As the company is backed by the MinerGate team, you can expect it to guarantee complete safety and security. The exchange gets the tokens to and from the user wallet and does not store them anywhere. To add an extra layer of security, user accounts are protected with a two-factor authentication system.

Customer Support

Changelly offers pretty impressive customer support as compared to others in the industry. You can get in touch with customer service in several ways including email and a support ticket system.

It is also one of the few crypto exchanges to offer round-the-clock live chat support that gets you an instant response on any concern you may have.

The platform also has an informative FAQ section that provides answers to some of the most common questions. Moreover, the website gives clear instructions on how to use different services.

Pros

• Low crypto-to-crypto exchange fees
• Easy to use
• Wide selection of cryptocurrencies
• 24×7 live chat support
• Beginner-friendly
• Integration with wallets
• Impressive liquidity and limits
• Intuitive interface
• Safe and secure

Cons

• No phone support
• Limited payment options
• Not regulated in the United States
• High fiat-to-crypto fee
• High minimum trade amount

Final Thoughts

With an intuitive interface, an impressive selection of crypto assets and fiat currencies, and a lot of options to customize the experience, Changelly makes an excellent platform for the purchase and exchange of cryptocurrencies.

Whether you are a beginner looking to get started with crypto investing or a seasoned investor interested in plenty of coin offerings and high buying limits, Changelly is sure to appeal to you.

The post Changelly Review – Things to Know Before Using Changelly appeared first on TechInfoSite.

However, with such a huge number of coins and tokens traded actively in the online landscape, it can be challenging to keep a tab of your investments. Moreover, if you tend to trade digital currencies regularly, you can find it difficult to understand your tax obligations.

Cointracker is a solution that claims to help you with both these issues with its portfolio manager and tax calculator. The platform provides you with an easy way to connect your cryptocurrency exchanges with your wallets to keep you on top of your investment data in real-time.

In this review, we discuss the ins and outs of CoinTracker, how it works, what it offers, and how effective its services are to help you find out if it is actually the best crypto portfolio manager and tax calculator.

CoinTracker Review – Updated 2022

Ever since its inception in 2017, CoinTracker has aimed to wow its users by taking the crypto offerings to another level.

It is an online portal that allows linking more than 8000 cryptocurrencies and up to 300 crypto markets to a single account. By giving you a way to connect third-party wallets and exchanges, it lets you see in real-time how your investments are performing, making it easy to adjust as needed.

CoinTracker not only lets you check your balances and other data in real-time but also helps keep a tab on transactions. This makes it particularly appealing to full-time traders interested in automating reconciliation. It is also useful for people living in countries where cryptocurrency profits are taxed as capital gains.

The platform’s capital gain tax calculator tool is supported in Canada, US, Australia, and UK. The platform claims to have handled over $20 billion of transactions and more than $600 million of claimed capital losses.

Features

CoinTracker offers you several useful features that together make your cryptocurrency trading, investment, and tax reporting more manageable and streamlined.

Wallet Integration

CoinTracker allows you to link any number of crypto wallets to a single account. Those who have multiple crypto sources would find the service quite useful as you can combine all the information for easy tracking and reporting. All the transactions and balances from different wallets can be viewed through a single portal.

Cryptocurrency Tracking

With CoinTracker, you can use more than 300 of the best cryptocurrency markets to see how your investments perform.

You can keep track of the latest trends in the market you can benefit from and stay updated on the current values. Based on these reports, you can quickly make adjustments and maximize gains.

Transaction Tracking

CoinTracker offers an exchange and wallet tracking feature. It allows connecting all your cryptocurrency wallets to keep track of transactions.

It can monitor more than 300 wallets including TrustWallet, Ledger, Binance, and Coinbase. It also keeps you on top of your coins stored on different exchanges and their real-time values.

Fee Tracking

Crypto traders can often find the fees expensive. CoinTracker helps you see the fees you pay for any exchange or transaction.

With this information, it is easy to make necessary adjustments to lower the fees as you trade your crypto assets.

Mobile App

You can use the solution on your desktop as well as mobile devices with dedicated apps available for iOS and Android.

The mobile apps let you check in with your portfolio and real-time prices on the go so that you don’t need to stay tied to your desk to use the service.

Tax Reporting

Staying compliant with tax reporting is one of the most critical aspects of your cryptocurrency portfolio. It can be daunting to track all the details by yourself; this is where CoinTracker proves useful.

The service helps you compile tax reports quickly for any country you live in and import the data to your tax filing application.

Capital Gains Reporting

The calculator tool gets you the profit/loss on the basis of the buying/selling price of the assets. You can view and download a report outlining every transaction you made during the specified time frame.

However, it is often difficult to understand the accounting process as different countries use different standards of reporting.

CoinTracker lets you specify the accounting standard you want to use to prepare your report in compliance with the country you live in.

The report gives you a detailed insight into what you need to submit to the tax body and how much you pay based on the tax rate of the respective country on capital gains.

Pros

• Amazing cryptocurrency and transaction tracking
• Tax reporting and compliance
• Support for a large number of cryptocurrencies
• Unlimited crypto wallet integration
• Updates and syncs for exchanges
• Useful mobile application

Cons

• Limited high-end tools
• Dated interface
• Can get expensive

Who Should Use CoinTracker?

CoinTracker, with all its integrations and tax calculation capabilities, is suitable for crypto investors of different sizes and shapes. The platform can be easily customized to suit the needs of anybody interested in investing in cryptocurrencies.

The Free plan, for example, is ideal for those who are getting started in the landscape while the Custom plan lets you add features that help you with all your complex transactions.

While CoinTracker may not help traders practicing futures and derivatives trading, it is suitable for anybody interested in adding cryptocurrencies to his portfolio.

It comes packed with useful features that should help an investor looking for a convenient way to keep track of crypto wallets. It can also be beneficial for those trying to figure out their tax obligations for crypto profits.

Final Thoughts

Overall, CoinTracker is a valuable tool for cryptocurrency investors, regardless of their experience level and trading volume. It provides a simple way to stay on top of all your crypto transactions and assets across wallets and exchanges.

It also offers powerful tax reporting and compliance tools to simplify your crypto capital gain taxes. It is certainly one of the best crypto portfolio managers and tax calculators available.

The post Cointracker Review – Is This The Best Crypto Portfolio Manager & Tax Calculator? appeared first on TechInfoSite.

BlockFi is one of the most powerful cryptocurrency exchanges that stands out from others for its valuable loan and interest tools among other things to benefit crypto traders.

In this review, we take a closer look at the BlockFi offerings to see how effective and useful its interest-generation and trading tools are.

BlockFi Review – Updated 2022

A cryptocurrency custodian founded in 2017 with an aim of expanding banking access to areas that traditional services didn’t serve, BlockFi has grown into a global cryptocurrency exchange and platform that features crypto-backed loans, crypto trading, wallet, and crypto rewards credit card.

Users can open an interest account with the platform to earn interest on their crypto assets. You can also borrow money against your tokens and coins instead of selling them out.

Currently, BlockFi offers 13 digital assets available for trading along with a plethora of other useful products to help crypto traders maximize their crypto investments.

BlockFi Wallet

The wallet this exchange offers allows users to buy, sell and hold digital currencies. The wallet also lets you store your rewards earned from the Bitcoin Rewards Credit Card.

However, you can’t earn interest for assets stored inside this wallet. To be eligible for interest generation, the tokens should be kept in an interest account.

Crypto Loans

With BlockFi, you can avoid selling your crypto assets when in need of money. You can borrow US dollars against your coins with affordable interest rates.

Supported coins include LTC, BTC, and ETH. The minimum loan amount is $10,000 while the loan-to-value ratio is 50%. You can take a loan for a duration of 12 months at a 4.5% interest rate.

Borrowing instead of selling cryptocurrency means you can save on taxes as there is no need to report capital gains. Moreover, the interest can be tax-deductible, bringing down your tax bill further. However, it is worth noting that you can easily lose your coins when prices drop.

When the price goes down and assets fall outside the loan-to-value ratio, you need to deposit more collateral to maintain it.

Rewards Visa Card

BlockFi is the first-ever platform to introduce a Bitcoin Rewards Credit Card that earns you rewards in Bitcoin on your purchases.

The card gets you rewards at a rate of 1.5% in Bitcoin on all your purchases without any annual fee.

The rewards are automatically added to your interest account. You also earn 3.5% rewards with the card for the first three months.

Interest Account

This is the interest-bearing account with which you can earn 3-8.6% compounded interest for your crypto holdings.

The account doesn’t require maintaining any minimum balance and has no hidden charges. The rate of interest you can earn depends on the type of currency and varies with the market condition. It accrues daily and gets deposited into your account every month.

The interest is paid out monthly in Ether, Bitcoin, USD coin, Litecoin, or Gemini Dollar. You get the option to choose the currency you get paid in. The advantage of choosing the payout coin is that you can easily diversify your crypto portfolio. The account is available to non-US residents only.

User Experience

BlockFi offers an online dashboard and a dedicated mobile app for Android and iOS devices. The platform provides an intuitive and simple way to trade with cryptocurrencies.

On the dashboard, you can find the asset selection right on the top to select and make a quick trade. Interest account holders can also set up recurring trades on a daily or weekly basis or specific dates of the month.

The trading experience is quite straightforward for those who are well-versed with online brokerage accounts or financial applications.

Safety and Security

BlockFi is one of the few US-based crypto exchanges and its custodian, Gemini is regulated by the NYSDFS. A BlockFi account does not keep your funds as safe as a bank.

The exchange is not insured but takes some measures and uses some practices to keep users safe and protected.

To prevent any occurrence of fraudulent activity on the platform, BlockFi requires users to verify their identity when opening an account.

You must submit a government-issued identity proof and provide some personal information to sign up for a BlockFi account.

The platform also uses two-factor authentication to protect user accounts. It is currently optional but encouraged.

BlockFi considers holding its funds in cold storage which means the storage doesn’t connect to the internet and secures the funds better. The platform also sees that client funds are placed ahead of any employee or equity funds in any unexpected event of a loss.

Customer Support

BlockFi lets you contact customer service through a variety of methods including a ticket system, chat, or phone call. You can reach out to the support team through the chat facility or phone for any questions or assistance.

Apart from these options, you can use the help centre to find answers to common queries about the platform and features. Loan borrowers have a dedicated portal they can use to get in touch with the loan department.

Pros

• Fully featured crypto platform
• Useful help centre
• Interest earning capability
• Ability to borrow against crypto
• No monthly fees or minimum balance
• Free monthly withdrawals

Cons

• Not beginner-friendly
• Limited number of cryptocurrencies
• No video explainers
• No insurance
• Interest account not available to US users

Final Thoughts

While there are several platforms that facilitate cryptocurrency trading with support for a large number of digital currencies, BlockFi provides you a centralized hub for trading crypto assets, generating interest on your holdings, and borrowing funds.

It is a valuable solution for beginners as well as intermediate-level cryptocurrency investors looking for some extra ways to earn from their crypto investment.

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