Derrick V. Apple, CPA
Email: email@example.com | Direct: 843.203.2759
The latest crypto bull market brought many new market participants. This brought opportunists, fueled by ego and greed, who ran centralized exchanges to take advantage of the markets and retail investors. They championed themselves as market makers, deciding winners and losers. They also tried to control governmental crypto policy by having a hand in crafting it for their benefit while ignoring the concepts of responsibility and asset security.
Our response as crypto supporters and market participants should be swift and decisive. We have a responsibility to safely store our assets. Holding your keys to your assets by using a non-custodial wallet is the only solution to the unfriendly actors in the crypto space. Centralized exchanges have their limited use case as the on-ramp and off-ramp for fiat transfers, but the only secure way to hold your investments is to remain decentralized.
The current bear market has caused many participants to shift strategies. Crypto investments in a loss position present a tax planning opportunity for many investors. Our firm understands tax reporting for all types of crypto market participants, from investing and trading to mining and staking. Please schedule an appointment today to take advantage of our offerings.