Ripple update: A couple of questions.
Hello, I’ve been reading (lurking) on here, and other subreddits, for about 10 months now. Over the last 8-9 months I’ve been (very slowly) investing in a few different crypto currencies.
There are a couple of things I have questions about though. I have searched around, but either couldn’t find an answer, or didn’t understand the information (this specifically regarding my second question).
I’m not looking for “x exchange is better”.
But if your answer suggests a more efficient way by USING a different (just as fast) exchange/coin/process, I’m open to suggestions.
In this scenario, I’m using Coinbase, Binance, and Bitcoin as my examples..
I’ve seen posts about buying Bitcoin through coinbase, transferring to Binance, then setting a limit order “x Satoshi > XRP”.
But in this scenario, if the price of Bitcoin changes, (to my understanding) that affects your price of “x Satoshi”.
Wouldn’t I “take less of a hit” if I sell my Bitcoin for Tether, THEN set a limit order for “XRP” (assuming Tether’s price doesn’t change)?
I’m a visual learner, so it’s a little difficult for me to wrap my head around this.
My second question is regarding taxes ( I live in the U.S.)
If I invest $100, then sell at $1000; is the tax on $1000 or $900?
Thank you for your help.
About Ripple (XRP)
Ripple connects banks, payment providers and digital asset exchanges via RippleNet to provide one frictionless experience to send money globally. Banks and payment providers can use the digital asset XRP to further reduce their costs and access new markets. XRP is the fastest and most scalable digital asset today.
Author: mai0f
Score: 6
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