70% Incorrectly Believe Only Centralized Crypto is Taxable
70% Incorrectly Believe Only Centralized Crypto is Taxable
🤔 Tax Man Sees All
A concerning trend shows that 70% of people mistakenly believe only centralized cryptocurrency activities are subject to taxation.
Key Facts:
- All crypto activity is taxable, regardless of centralization
- This misconception could lead to significant tax compliance issues
- MetaMask's Tax Hub offers tools for proper crypto tax reporting
For detailed insights, check out CryptoTaxHQ's report on common tax misconceptions.
Need help? Visit MetaMask's Tax Hub to properly calculate your crypto taxes.
taxes can be difficult to figure out, but we made it easier portfolio.metamask.io/tax-hub
so it’s my first time having to pay like real taxes post college this year just ran the numbers on what i owe wtf are taxes a legit scam???
describe crypto to an accountant in one sentence
70% of people think that only *centralized* crypto activity is taxable. oof. 😬 The reality is that all crypto activity is taxable, whether it's centralized or decentralized. Don't be part of the 70%. Do your due diligence now so it doesn't potentially bite you later. 👇
Phishing Alert: New Sophisticated Attacks Targeting Crypto Users
Crypto phishing attacks are evolving with increasing sophistication. Here are key threats to watch for: - **Fake Websites**: Clone sites mimicking legitimate crypto platforms - **Email Scams**: Fraudulent messages impersonating exchanges and wallets - **Mobile App Fraud**: Counterfeit wallet and exchange applications - **Social Engineering**: Impersonators posing as support agents or influencers **Protection Steps**: - Enable 2FA authentication - Use unique passwords - Verify URLs carefully - Download apps only from official stores - Never share private keys Learn more about phishing prevention at [MetaMask Support](https://support.metamask.io/search/?q=phishing)
MetaMask Card Funding Process Simplified
MetaMask has streamlined the process of adding funds to their Mastercard-powered MetaMask Card. The update aims to improve user experience and accessibility. Key updates: - Direct fund transfers now available - Simplified user interface - Integration with existing MetaMask wallet features The MetaMask Card, launched in partnership with Mastercard, continues to bridge traditional finance with Web3 technology. Users can access the new funding features through the [MetaMask Portfolio platform](https://portfolio.metamask.io/card). *Note: This service combines the security of MetaMask with the global acceptance of Mastercard.*
MetaMask Rolls Out Major Updates Including Gasless Token Swaps
MetaMask has launched several significant upgrades to both Extension and Mobile versions: - **Gasless Token Swaps**: Users can now swap tokens without requiring ETH for gas - **Automatic Network Switching**: Seamless network changes when interacting with dapps - **Smart Transactions**: New feature protecting users from MEV - **Built-in Bridging**: Direct bridging functionality added to Extension - **Mobile Improvements**: Enhanced portfolio view and ETH staking capabilities - **Batched Transactions**: Combined token approvals and swaps in single action Future roadmap includes native Bitcoin and Solana support, and UI/UX improvements.
Phosphor xyz Concludes Holiday Calendar with 9dcc Black Box Giveaway
Phosphor xyz's Holiday Calendar reaches its finale on Day 25 with their most significant offering yet - a 9dcc Black Box giveaway. The Black Box contains: - Various collectibles - Tokens - Chance to win a CryptoPunk **How to Participate:** 1. Mint a ticket on MetaMask Portfolio 2. Follow @phosphorxyz for winner announcements This concludes their month-long holiday campaign featuring daily NFT and memecoin giveaways.