How To Find A Reliable Bookkeeping Firm For Cryptocurrency

How To Find A Reliable Bookkeeping Firm For Cryptocurrency

How To Find A Reliable Bookkeeping Firm For Cryptocurrency

There are many different types of currency that exist in the world today. If you are in the United States, you use the US dollar. If you are in Europe, the primary currency is the euro. However, there is a new type of currency that was recently introduced by a cryptographer in the 1980s. Some people refer to this as electronic money. However, it is most commonly known as cryptocurrency. In its initial stages, it was thought to be no more than a fad. However, today, it is becoming a dominant way of paying for goods online. Let’s discuss what cryptocurrency is, and if you are using this to make money, it is highly recommended that you find a reliable bookkeeping firm that understands this nouveau type of currency.

The Origins Of Cryptocurrency

When David Chaum, an American cryptographer, came up with cryptocurrency, he likely did not know how big this would become. It was in 1995 that he first created an electronic money business that he called Digicash. Prior to the dominance of PayPal, this was one of the few ways that you could actually use money from your bank account to make payments online. As time passed, this subsequently became popularized through what is called bitcoin, something that took this to a whole different level.

What Is Bitcoin?

Arguably the most famous of all of the different types of cryptocurrency, bitcoin is well-known throughout the world. It has actually allowed people to become extremely wealthy, leading many to become multimillionaires. In the same way that currencies can be traded on the Forex marketplace, cryptocurrency offered a different way to make these investments. If you were to get into this, you would certainly need to consider finding a reliable bookkeeping firm that understood how to track all of your earnings and expenditures with cryptocurrency.

How To Find Cryptocurrency Bookkeepers

A bookkeeper is an individual that is similar to an accountant. Number Unlimited Bookkeeping would be a typical example of a regular bookkeeping company. They are able to track the money that you earn and spend. They are also capable of preparing your taxes for you. Even though this is a digital form of currency, it does have a monetary equivalent. Therefore, you must pay taxes on your earnings, regardless of where or how you earn the money. That is why many people do get into trouble now that cryptocurrency has become so prominent. Finding a reputable cryptocurrency bookkeeping firm should be one of your top objectives. To find them, you can search for cryptocurrency bookkeepers online and you will see many companies that do offer this service. You will want to ask them for estimates on how much it will cost to use their services, and subsequently, choose one of them to help you out.

How To Know You Have Found The Right One

if you were to have done this 10 years ago, it may have been difficult to discern who was actually the best person for the job. That was because this trend of making so much money with cryptocurrency is like bitcoin simply did not exist. Today, it is well-known that these digital currencies can generate substantial amounts of cash flow. There will be many of these bookkeepers that will have multimillion dollar clients. If you are currently making a lot of money with cryptocurrency, or if you would like to, simply choose the bookkeeper that has the highest amount of positive reviews from clients that are very happy with their services.

One final consideration to make when choosing a bookkeeper for cryptocurrencies is to consider the cost of this service. Some of them may offer to do this for you for substantially less than others, but they may not have the reputation that the others have built up. If you want to work with the best, sometimes you do have to pay more than you think you should. Based on their reputation, or perhaps a recommendation from a friend that is also using one of these professionals, you should start working with a cryptocurrency bookkeeper that can help you stay on the straight and narrow in this very lucrative industry.

Bitcoin And Blockchain In Malta

Bitcoin And Blockchain In Malta

The rise of cryptocurrency in today’s time has had a lot of people excited in the past few months. More and more businesses are also starting to accept it as a means for their customers to pay for goods. In addition to that, some countries are putting more and more effort in making cryptocurrency as a form of an additional source of income for their nation. Malta is without a doubt one of those countries. In fact, it has set itself to become the Blockchain Island of the world and it’s pretty determined to reach that goal.

One of the major proofs that Malta is doing a great job in achieving its goal is the recent announcement that Binance made. This company, which is known to be one of the biggest cryptocurrency exchanges in the world in terms of volume, has announced that it has chosen Malta as the location of its new headquarters. Favorable cryptocurrency regulations in Malta have been said to be one of the reasons for the company’s decision.

The Prime Minister of Malta confidently believes that Binance’s decision was because of what the country and its governments can offer in terms of cryptocurrency.


Why Did Binance Move To Malta?

One of the biggest reasons why Binance has decided to move to Malta because it wants to be able to provide fiat-to-cryptocurrency deposits and withdrawals, which will help it improve its overall liquidity and will allow them to open up their platform to a new set of investors through fiat purchases. As of the moment, only a few exchanges offer this kind of option, which has forced a lot of investors to look for other kinds of hedging alternatives like the stable token Tether so that they can protect themselves from the effects of the massive volatility and correlation of the cryptocurrency markets.

Malta has welcomed Binance well into its island. The company is aiming to start good relationships with different local Maltese banks so that it can start offering fiat-to-cryptocurrency deposits and withdrawals at the soonest possible time. In addition to that goal. Binance also decided to build their headquarters in Malta so that they can mitigate the risks brought about by their centralized system and so that they can offer their customers a trustless and decentralized solution so that they won’t have to worry about transparency and security, which are two things that are rapidly increasing in demand these days.

Ian Gauci, who is the known legal expert of the National Blockchain Strategic Task Force under the office of the Prime Minister said that operators who wish to open up a branch in Malta often look at the entire ecosystem and assess the country’s ultimate potential from that perspective. From the DLT front, Malta has without a doubt a great reputation and track record when it comes to financial, maritime, and gaming services. With that, we can say that value is already existing and is further improved by the country having a predisposition to DLT and also different innovations that help make it a suitable environment for bitcoin and blockchain businesses. All of these things are quite telling that Malta has indeed the capacity to turn itself into the Blockchain Island of the world.

Gold, Silver, Hyperinflation and More

Gold, Silver, Hyperinflation and More


As money printing sees a significant decline for the past few years and with annual deficits getting out of control, it will just be a matter of time before hyperinflation takes place. While no one hopes for such a scenario to happen, it is expected that the laws of economic cause and effect are not going to spare any nation that ignores them. It will not be long before China reduces its purchases of US debts and the budget crises of most American state governments are going to hit critical mass. The moment this bubble bursts, the dollar is going to worth less and less quickly. A mere recall in history can reveal this probability.

If your wealth is being measured in paper dollars, which are currently losing their value as printing presses churn out more and more of them, sooner or later, you might end up losing your wealth. Good alternatives are real estate, stocks, and of course, precious metals.

Considering the uncertainty of the government regarding new tax havens and with the continuous worsening of the present economy, it could get extremely hard to identify the best stocks to choose. Real estate may be a great way of preserving wealth yet their prices are also dropping like rocks and no one can even guess when it will hit the bottom. This is not to mention that taxes in real estate are rising as well as more rises are expected to fund local governments which are being driven in case of a financial collapse. Finally, income from real estate won’t be as attractive soon as the rents won’t be able to rise fast enough to cover the rising taxes on real estate and the dropping dollar.

This leaves everyone with precious metals in 2017 With the history and tons of facts to back up gold and silver investment many people believe that the winning strategy is to invest in silver and gold as the bubble inflates and when it’s looking that bubble is ripe and nice for bursting, buy real estate, and bail out. The main reason behind it is that real estate will surely bottom out as the precious metals top out.

Where to Store Your Silver?

Paying for the vault charges just to let some companies store your silver isn’t always a good idea. It is always wise to store your silver on your own. A lot of people think of considering a bank safety deposit box, yet some are skittish. If there’s an economic meltdown, history will show you that a bank holiday would be declared and you cannot retrieve your silver from the bank that’s closed. In addition to that, when banks fail, there will be cases where it wasn’t reopened immediately under one’s ownership. In this case, it might take a long time getting any possessions from the safety deposit box. But, depending on your choice, it’s up to you where you want to store your silver.

Welcome to 2017!

Welcome to 2017!

Welcome to 2017!  Now, what are you going to do with it?  As the famous quote says, time is the great equalizer.

The new year is a great time to contemplate what’s ahead, but it’s also a trap.  With everything fresh a euphoric feeling of the possible sets in.  But, the reality is that the actions you take, and how you take those actions will have far more impact in determining where you are at the beginning of 2017, than any vision, plan or goal.

And, the reality is that you don’t have that much time to do it.  When you factor in time off, the administrative issues you must deal, and general tasks you need an address to keep things moving, half of your year is already gone.

So, I ask you again…what are you going to do with it?  How disciplined will you be to ensure that you bring purpose, discipline and focus to the actions you take?

While time is the great equalizer, choice is the great differentiator.  Strive to make better choices this year, and the results will take care of themselves.

Looking to get a jumpstart?

  • You can watch our webinar: The 5 Secrets To Getting Your Year Off To A Fast Start.
  • You can download our workbook:  Developing a quick, easy and effective strategic plan.