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The cryptocurrency market has risen following announcements of new features and an exclusive Twitter interface for next year. The project is currently being developed by the NaaS blockchain. The platform believes that these advances are important for cryptos. Check it out below. 

Cryptocurrencies soar after announcements of exclusive Twitter interface and more news for next year 

A NaaS blockchain project is betting on Web3 for the development of a social media platform, as well as other changes. Since the news was announced, the cryptocurrency has risen by 164%. 

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In principle, the forecasts for the crypto market are not at all favorable for investors, but there is no reason to despair. This is because some markets tend to ignore the bear market altogether. To try to get around this problem, new projects have been announced. 

To illustrate this, we can mention QLC Chain, a project that has been presented as a blockchain network. The model's main objective is to transform the next generation of NaaS. However, during the month of November 2022, this project underwent some changes, such as migrating to another network.  

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An ecosystem token, known in the market as Ticker QLC, is one of the main reasons for investors switching from QLC investments to the new token. This change came about due to the projects carried out on the Ticker QLC platform. 

Kepple is betting on a large audience of people on the platform next year. At least that's the narrative the service believes. In addition, there is the belief that the market will be driven by the community and investors. 

To understand how these advances have come about in recent months, it's important to bear in mind that the price of QLC in August was 0.0098. It was at this point that the token experienced a monthly rise of 382%.

In principle, even if the numbers are favorable for the token, the project is no exception to the risk rule, but it can be minimized by monitoring the fundamentals. It's worth noting that bad projects favor the critics. 

About Cryptocurrency

Cryptocurrency is a form of digital payment, but it doesn't depend on any bank to confirm and verify transactions. The system works peer-to-peer, allowing users to receive and send payments from anywhere. 

These digital currencies can be used to pay for digital services and products. In other words, cryptocurrencies work like ordinary money. However, unlike cash, no government or body is responsible for issuing them. 

There are many terms within the world of cryptocurrencies, such as blockchain. This term basically refers to a database with all the transactions that take place on the internet. In other words, information such as serial numbers and wallet balances are stored in the system. 

Another term often mentioned in the world of digital currencies is cryptography. This system is related to security. Its main objective is to protect the data contained in the blockchain from possible cyber attacks, as well as scams or fraud. 

Last but not least, cryptocurrency mining is another term mentioned within this payment system. Its function is to validate and include the transactions that take place within a blockchain network. 

Cryptocurrency uses

There are several companies that accept payment via cryptocurrencies for their products and services. However, this type of transaction is more common in European countries, as well as in the United States. 

In Brazil, payments with cryptocurrencies are in their infancy, but it is possible to find some establishments that offer this option to consumers. In short, there are various products and services traded with digital currencies, such as:

  • Cinema;
  • Meals;
  • Air tickets;
  • Cars;
  • Aesthetic procedures;
  • among others. 

Cryptocurrencies can also be used as an investment diversification strategy. In this way, investors have more resources to "hold on" to losses during periods of crisis, for example. 

In other words, if a stock is falling, investments in cryptos may not suffer from this type of movement. This means that cryptocurrencies are a type of investment, even if most people don't think so. 

In principle, if the investor studies the concepts of this market well, it is possible to make good profits. However, as with any investment, there are risks. In this sense, before buying cryptocurrencies, it is important to bear the following in mind: this is a high-risk investment. 

Investing in Cryptocurrencies

If you want to invest in the world of cryptocurrencies, even if you understand the risks, there are three ways to do it: 

  • Negotiating directly with people;
  • Through exchanges, brokers or asset specialists;
  • and through the cryptocurrency funds available from traditional brokers. 

When the transition is direct, the entire negotiation takes place independently, i.e. no additional fees are charged. On the other hand, this type of negotiation is more prone to scams, which is why many investors avoid it. 

Finally, to avoid possible headaches in digital currency transactions, you can buy cryptos from specialized brokers. This procedure is the most suitable for investors, as it is safe. 

Income Tax Return

According to income tax rules, investors who buy R $5,000.00 or more in cryptocurrencies and sell more than R $35,000.00 per month need to file a tax return. Check out the step-by-step instructions:

  1. First, with the IR declaration program open, select the "Assets and Rights" option;
  2. Select the "08 - Crypto Assets" category and then choose your investment code;
  3. Then enter the amount of your purchase;
  4. Finally, fill in the "Breakdown" data, as well as the cryptoasset data such as: quantity, category and the company's CNPJ.

Finally, now that you understand more about the world of cryptocurrencies, remember to study the market before you start buying. That's the first step to success in the investment world. 

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