Depending on the number of Nexo tokens you hold, there’s the possibility of earning higher interest rates as part of their loyalty reward program. This way, you can become eligible for an interest rate of up to 5% on crypto coins at the highest level of loyalty and up to 10% on stablecoins. Based on your loyalty level, you can also receive higher APY if you choose for your crypto interest to be paid in NEXO tokens instead of your original coin. For example, instead of receiving interest on your USDT, if you choose your interest to be paid in NEXO token, you can get an additional 2% APY at the highest loyalty level. Another way to increase the interest rate is by locking your coins in for 1 month to receive an extra 1% APY. Under current conditions, if an additional 8M USDC is supplied to Aave’s lending pool, this portion would represent ~0.3% of the total current USDC supply on Aave’s Core market.

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Please note that the availability of the products and services on the Asset Harbour App is subject to jurisdictional limitations. Asset Harbour may not offer certain products, features and/or services on the Asset Harbour App in certain jurisdictions due to regulatory restrictions. It’s legal to buy, sell, trade, spend and gift crypto in the UK – as well as many other investments.

How to Pick Quality Crypto Brokers for the UK?

However, your cost basis from any coins received from a hard fork is derived from your existing tokens from the previous blockchain – not the fair market value of the coin on the day you received it. Now that we’ve covered everything there is to know about crypto capital gains, let’s move on to crypto income and income tax. The crypto tax you’ll pay depends on the specific transactions you’re making with your crypto.

• Old-school DEXs like Uniswap, PancakeSwap, and Meteora are still earning well.
• Whilst the bullmarket will probably end this year and complete its cycle, I don’t think the pullback will be the same this time now we have the institutions and big money involved.
• I understand the reasoning for the 50% cut and can see how it will benefit the ecosystem.
• Connect your wallet and utilize SOL, USDT, or USDC to initiate the purchase.

So as you can see, you’ll pay either 10% or 20% tax on any crypto gains, depending on what band you fall under. When we deposit our hard-earned money, we assume it just sits in our account, waiting for us to use it. The bank immediately puts that money to work, lending it out, investing it, and earning far more than they ever give back to us. First and foremost, they must verify the regulatory compliance of the company. Based on the markets brokers/exchanges operate in, they will comply with the regulatory requirements of different financial monitoring bodies. They are usually mentioned in the footer of their home pages, USDT savings with links to the respective regulatory authority.

Another great wallet for newbies is Luno which is very simple to use. You can open a profile within minutes on a mobile device or computer. The only downside of it is that it supports not too many cryptocurrencies at the moment. However, it offers great features such as low fees, secure storage, and interest on crypto savings.

• There’s no economic sense in retaining your stake to preserve your multiplier if the rewards get cut by 50%.
• The fact that it has over 5 million active users shows that people have faith in this crypto wallet.
• Unlike conventional mining methods, BTCMTX offers a seamless process where staked ERC20 tokens are exchanged for non-tradeable mining credits, subsequently burned.

TR ENERGY allowed us to integrate via API and fully automate energy rental across thousands of wallets. Previously, we had to manually monitor limits and top-up balances – now the whole process is optimized and requires no staff involvement. This not only simplified the technical side but also drastically reduced TRON fee expenses. My plea is simply that we all make the most of the time given to us to plan for the impact of off payroll working.