Guides

Paying Taxes with Crypto Isn’t Yet the Norm, But It Should Be

Published

2 years ago

August 23, 2023

As Benjamin Franklin once said:” in this world nothing can be said to be certain, except death and taxes.” Taxes are a normal part of life. When the tax season comes, you must organize your information, fill out tax returns, and wait for tax refunds (if any). The aim of taxes is to generate revenue for the government, funding its operations and services. To build a strong nation, it’s important to have responsible citizens. There’s more than one way to make a payment, and some of the options might surprise you. If you want to tackle your tax bill differently, we suggest you stick to cryptocurrency. You can use Bitcoin, Ethereum, or any other cryptocurrency.

Colorado Is the First US State to Accept Payments in Crypto for State Taxes and Fees

In recent years, state legislatures have been exploring ways to regulate and capitalize on the growing interest in cryptocurrency. Several proposals have been made to include alternative payment methods for debts, public charges, taxes, and dues, yet they’ve faced legal and political hurdles. To exemplify, Ohio announced it would allow businesses to use Bitcoin to pay tax bills in 2018, a service that lasted less than 12 months before it was outlawed and activity ceased. Apart from Ohio, Colorado is the only state to have expressed an interest in allowing cryptocurrency to be used for tax payments. Since September 2022, Colorado citizens have been able to pay their taxes via cryptocurrency.

Eligible tax types are:

individual income tax
business income tax,
sales and use tax
withholding tax
severance tax
excise fuel tax

Attention needs to be paid to the fact that there’s a service fee of $1 and 1.83% of the total payment amount. Cryptocurrency payments need to be made through PayPal. Customers in the US and US territories can transact with four different digital assets, namely Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. To transfer your cryptocurrency from an exchange to PayPal, you must proceed in the same manner as transfers from an exchange to a MetaMask wallet. More precisely, it’s necessary to log into your account, select the currency you’d like to withdraw and copy and paste the wallet address.

A sufficient amount of cryptocurrency is required to cover tax, obligation, and fees. The digital money is converted to dollars and then remitted to the Department of Revenue to finalize the online transaction. Tax refunds aren’t issued in cryptocurrency. Since cryptocurrency is regarded as property by the federal government, people must pay taxes on their holdings prior to using cryptocurrency as a payment method. This might possibly deter some from using cryptocurrency to meet their tax obligations. Even if cryptocurrency is decentralized as far as transactions are concerned, there are instances where owners owe taxes on it, such as trading mining, using it to pay for goods and services, or receiving it as a payment or reward.

Should You Pay Your Taxes with Cryptocurrency? Why, Yes!

Taxes are essential to fostering economic growth and development, not to mention achieving a prosperous and functional society. Although we interact with taxes on a daily basis, we only think about them at the beginning of the year, when the tax season rolls in. Each government has its particular focus, with big-picture spending on things like Social Security. If you’re a citizen of the US, you must file taxes, even if you have no income. The tax year starts January 1 and ends December 31. Just because you have a tax obligation, that doesn’t mean you automatically owe something, as there are some tools the US provides to ease the tax burden.

Ethereum, rather than Bitcoin, will be at the forefront of crypto adoption because it’s a hub of innovation and activity. Polygon, a protocol and framework for building Ethereum-compatible blockchain networks, provides faster and more affordable transactions. Its popularity went up from 23% in 2022 to 41% in 2023, according to the data shared by Ryan Wyatt. Polygon helps build and scale decentralized applications and projects, fostering innovation and adoption. You can use a debit or credit card that’s connected to your exchange to realize numerous types of payments.

Nevertheless, there are certain aspects to take into account. To be more precise, think about the following:

Crypto Transactions Usually Cost. When you perform an action on the blockchain, transaction fees are paid. Bitcoin transactions are paid in Bitcoin (what else?), while Ethereum transactions are paid in Ethereum. Of course, cryptocurrency isn’t the most expensive payment option when it comes to paying your taxes.
It Doesn’t Fit A HODL Strategy. Iconic investors praise the buy-and-hold approach, as it offers long-term results. If you acquired Ethereum because you planned to hold it for the long term, using it to pay your taxes is counterintuitive. It’s much like dipping into your savings account.

Colorado Follows in The Footsteps of Other States to Bring Crypto Into The Mainstream

Various states in the US have made attempts to attract crypto investors and businesses. Wyoming, for instance, has introduced crypto banks to support companies in the sector. It has no state income tax. Arizona plans to make Bitcoin legal tender and allow state agencies to accept Bitcoin. Back in 2022, New York City’s mayor, Eric Adams, received the first paycheck in cryptocurrency, converted to Ethereum or Bitcoin. Colorado has been laying the groundwork to be a hub for cryptocurrency and blockchain innovation, and the fruition of that groundwork is here. Colorado is the only state to have made the move to accepting crypto payments for state taxes and fees.

As opposed to other States, Colorado has a state income tax, which translates into the fact that income from wages, not to mention cryptocurrencies, are subject to tax. In the old days, anyone who wanted to pay their taxes using cryptocurrency had to go to an exchange, facilitate payment through that exchange, and convert the cryptocurrency to cash. At present, it’s possible to pay with the cryptocurrency in your wallet. Not everyone is sold on the idea, but there are always going to be skeptics.

Conclusion

Colorado, the first state to use blockchain technology for government infrastructure, enables residents to pay taxes via cryptocurrency, which carries lower fees than credit card payments. It might just be what the cryptocurrency movement needs to go mainstream.

Guides

TechInsiderz.com Gadgets: A Hub for the Latest Gadgets and Technology Trends

Published

1 month ago

February 5, 2025

Charles Brown

In today’s fast-paced digital world, staying updated with the latest gadgets and technology trends is essential. TechInsiderz.com serves as a one-stop destination for tech enthusiasts, providing in-depth reviews, news, and insights into the ever-evolving tech landscape. Whether you’re looking for the newest smartwatch, the best home automation devices, or the latest advancements in AI-driven gadgets, TechInsiderz.com Gadgets keeps you informed with reliable and well-researched content.

The Most Exciting TechInsiderz.com Gadgets on the Market

Technology is evolving rapidly, and new gadgets are constantly being introduced to enhance our daily lives. Some of the most exciting categories of gadgets include:

Wearable Technology

Wearable devices have become an integral part of modern life, offering a combination of convenience, health monitoring, and smart connectivity. Innovations in smartwatches and fitness trackers have made it easier to track fitness goals, monitor heart rates, and even detect irregularities in health conditions. Additionally, augmented reality (AR) glasses are transforming industries by integrating virtual elements into real-world environments, opening doors to new possibilities in gaming, education, and professional fields.

Smart Home Devices

Smart home technology is revolutionizing the way people manage their living spaces. From voice-controlled assistants like Amazon Alexa and Google Home to advanced security systems with AI-powered facial recognition, smart home devices provide enhanced convenience and safety. Home automation tools such as smart thermostats, lighting systems, and robotic vacuum cleaners further streamline daily tasks, making homes more energy-efficient and user-friendly.

Entertainment & Audio Gadgets

The demand for high-quality audio and visual experiences continues to grow. The latest wireless earbuds and noise-canceling headphones now offer crystal-clear sound, while advancements in home theater systems are bringing cinematic experiences to living rooms. Innovations in 8K televisions, portable projectors, and surround sound systems ensure that entertainment lovers can enjoy immersive experiences with the best technology available.

Key Factors to Consider Before Buying a TechInsiderz.com Gadgets

With so many gadgets on the market, choosing the right one can be challenging. Here are some key factors to consider before making a purchase:

Identifying Personal Needs

Understanding your specific requirements is crucial before investing in a new gadget. Are you looking for a smartwatch to monitor your fitness, or do you need a powerful laptop for work? By clearly defining your needs, you can narrow down your options and select a gadget that best fits your lifestyle.

Comparing Features and Specifications

Every gadget comes with unique features and specifications. Before making a decision, it’s essential to compare different models and brands. For example, when buying a smartphone, factors such as battery life, camera quality, processing speed, and display technology should be considered.

Budget vs. Value

Price is an important factor, but it’s also crucial to assess the value of a gadget in relation to its features. A higher price does not always mean better quality. Many budget-friendly gadgets offer excellent performance and reliability without breaking the bank. Look for a balance between affordability and functionality.

Checking Expert Reviews and User Feedback

One of the best ways to determine a gadget’s reliability is by reading expert reviews and user feedback. TechInsiderz.com provides detailed reviews based on hands-on testing, helping consumers make well-informed decisions. Additionally, checking customer reviews on e-commerce platforms can give insight into real-world experiences with a particular gadget.

Emerging Trends in the Tech World

Technology is constantly evolving, with new trends shaping the future of gadgets. Some of the key emerging trends include:

The Role of Artificial Intelligence in Gadgets

AI-powered gadgets are becoming increasingly sophisticated, offering smarter solutions for everyday use. From AI-driven personal assistants to smart cameras with facial recognition, AI integration is enhancing automation, personalization, and efficiency in various devices.

Eco-Friendly and Sustainable Tech

As environmental concerns grow, the tech industry is shifting towards sustainable and eco-friendly gadgets. Many companies are now focusing on developing energy-efficient devices, using recyclable materials, and reducing e-waste. Solar-powered gadgets and biodegradable tech accessories are gaining popularity among environmentally conscious consumers.

Health and Wellness Innovations

Health-focused technology is on the rise, with smart wearables playing a crucial role in monitoring physical and mental well-being. Devices with features like blood oxygen monitoring, stress tracking, and sleep analysis are helping users take proactive steps towards a healthier lifestyle. In addition, AI-powered diagnostic tools and remote healthcare devices are making healthcare more accessible and efficient.

Conclusion

TechInsiderz.com is a valuable resource for anyone looking to stay ahead in the world of technology. By providing comprehensive gadget reviews, insightful articles, and expert recommendations, the platform helps consumers make informed decisions about the latest tech products. With continuous advancements in AI, sustainability, and health-focused technology, the future of gadgets is more exciting than ever. Whether you’re a tech enthusiast, a casual user, or someone looking for the best gadgets to enhance your daily life, TechInsiderz.com ensures you stay updated with the latest innovations in the industry.

Guides

Blackjack: Need to Know

Published

1 month ago

February 4, 2025

Olivia

Whether you know this simple but highly entertaining card game as Blackjack, 21, or Pontoon, the chances are high that you’ve played at least once in your life. The most widely played casino banking game in the world, Blackjack has become synonymous with the glitz and glamour of the casino, while the contentious act of card counting in the game has been dramatized in countless Hollywood releases. Readers will likely have some understanding of the basics of the game. However, many will be unaware of the more complex strategies that can be employed to increase their chances of success at the table. Here, let’s start from the beginning and lay out all you need to know to enhance your skills and transform from a novice to a pro.

Basic rules

When compared to many other casino card games, the concept of Blackjack is incredibly straightforward. The basic premise of the game is for the players at the table to make a hand that beats the dealer’s hand – the only caveat being that the hand cannot exceed a total value of 21. If a player exceeds 21, they go bust and lose the game. To understand how to make sure you don’t bust out, a guide to Blackjack card values is helpful:

Number cards – the value of all number cards (2 through to 10) corresponds to the number on the face of each card. For example, the two of hearts will have a value of 2.

Face cards – the Jack, Queen, and King all have a value of 10.

Ace – the ace has two possible values dependent on which better benefits the current hand of the player. An ace can have a value of 1 or 11.

Game run-through

Now the values of the cards are understood, let’s run through a game:

If playing for money, the first thing players will do is place their bets into the betting circle on the table.

After bets have been placed, the dealer then deals each player at the table two cards, as well as dealing two for himself – one card face up and the other face down.

At this point, each player must make a decision. Do they:
– Hit – take another card and increase their current total.
– Stand – if a player is happy with their total, they can pass on an extra card and end their turn.
– Double down – if a hand looks strong but requires an additional card, a player may choose to double their bet before being dealt an extra card and standing.
– Split – if a player happens to be dealt a pair, they may choose to increase their wager, and in turn, the dealer will split their cards into two hands. This can also be done with differing face cards, such as a Queen and King, as they have the same value.

Once all the players have made their move, the dealer will then reveal their face-down card. If their total value is below 17, they must continue hitting until at least 17 is reached. If their total is 17 or higher, they must stand.

Therefore, a player wins either if they have a total higher than that of the dealer or if the dealer exceeds 21. If a player is dealt an Ace plus a card with a value of 10, otherwise known as a Blackjack hand, they will also win so long as the dealer does not also have a Blackjack.

Strategies to employ

As with all types of games, from the simplest card games all the way to complex video games like Elden Ring and Dark Souls, having an effective strategy is essential for maximizing your chances of success. Blackjack is no different, with experienced players employing several strategies when at the table.

If dealt a pair of Aces or eights, players should opt to split their hand. The value of two aces is 12, which is a weak hand in Blackjack; however, by splitting up the aces, a player can transform one weak hand into two potentially strong hands. With a high chance of drawing a card with a value of 10, a total of 21 can be achieved. Similarly, the value of two eights is 16, which is widely seen as the worst total in the game due to it being hard to improve without risking bust. By splitting the eights up, a player gets the chance to start fresh and try and build a good hand with less risk.

Knowing when to double down is also a key aspect of the game, providing the player with the potential for larger winnings. The technique is risky, however, and should only really be used with certain hands. If a player has a total of 11, they have a very high chance of hitting 21, with only one card, the Ace, causing them to bust. In this scenario, choosing to double down would be advantageous. In the same vein, a total of 10 would give a player a high probability of achieving 20, which would be a strong hand. If the dealer has a low-value face-up card, the edge swings toward the player, so doubling down would be a suitable move.

If a player has a low-value hand (8 or less), they should always consider hitting. At this value, there is no chance they can bust, and with such a low value, it is very unlikely they will win the game. Alternatively, a player should stand if their hand is 17 or higher. At this value, it is unlikely to increase without busting, so players should stand and hope the dealer’s hand is worse.

Ultimately, Blackjack is a game of math, and so having an understanding of the probabilities involved in certain scenarios is the best route to success on the table. And while it may first seem daunting, concentration and plenty of practice will allow anyone to gain the skills required. Remember these tips the next time you play.

Guides

Why Reviews on ThinkOfGames.com Are Shaping the Future of Gaming Opinions

Published

1 month ago

January 30, 2025

Charles Brown

In the ever-evolving world of video games, where new titles are released almost daily, gamers rely heavily on reviews to make informed decisions. Among the plethora of review platforms, ThinkOfGames.com has emerged as a trusted source for honest, in-depth, and insightful game critiques. This article explores why reviews on ThinkOfGames.com are becoming a cornerstone for gamers worldwide and how they are shaping the future of gaming opinions.

The Rise of ThinkOfGames.com in the Gaming Community

The gaming industry is booming, with millions of players seeking reliable information before purchasing or downloading a game. Amidst this demand, ThinkOfGames.com has carved out a niche for itself by providing comprehensive reviews that cater to both casual and hardcore gamers. Unlike other platforms that may focus solely on scores or brief summaries, reviews on ThinkOfGames.com delve into gameplay mechanics, storylines, graphics, and even replayability.

The platform’s rise to prominence can be attributed to its commitment to transparency and quality. Gamers trust ThinkOfGames.com because the reviews are written by passionate players who understand the nuances of the gaming world. This authenticity has made ThinkOfGames.com a go-to destination for anyone looking for reliable gaming insights.

What Makes Reviews on ThinkOfGames.com Stand Out?

So, what sets reviews on ThinkOfGames.com apart from the competition? Here are a few key factors:

In-Depth Analysis: Each review on ThinkOfGames.com goes beyond surface-level observations. Whether it’s a AAA title or an indie gem, the platform provides detailed breakdowns of what works and what doesn’t.
Unbiased Opinions: Unlike some review sites that may be influenced by sponsorships or partnerships, ThinkOfGames.com prides itself on maintaining impartiality. This ensures that gamers get honest feedback.
Community Engagement: ThinkOfGames.com encourages its readers to share their thoughts and opinions, creating a vibrant community of gamers who can discuss and debate their favorite titles.
Regular Updates: The platform consistently updates its reviews to reflect patches, updates, and DLCs, ensuring that the information remains relevant long after a game’s release.

How ThinkOfGames.com is Influencing Gaming Trends

The influence of reviews on ThinkOfGames.com extends beyond individual purchasing decisions. Game developers and publishers are increasingly paying attention to the feedback provided on the platform. Constructive criticism from ThinkOfGames.com has led to improvements in games post-launch, as developers strive to address issues highlighted by the community.

Moreover, the platform’s emphasis on indie games has helped smaller studios gain visibility. By shining a spotlight on underrated titles, ThinkOfGames.com is playing a pivotal role in diversifying the gaming landscape.

The Role of ThinkOfGames.com in Building a Trustworthy Gaming Ecosystem

In an era where fake reviews and paid promotions are rampant, ThinkOfGames.com stands as a beacon of trustworthiness. The platform’s dedication to authenticity has earned it a loyal following. Gamers know that when they read reviews on ThinkOfGames.com, they are getting an honest assessment free from external influences.

This trust is crucial in building a healthy gaming ecosystem. When players can rely on accurate reviews, they are more likely to support developers who deserve recognition and avoid titles that fail to meet expectations.

Why Gamers Keep Coming Back to ThinkOfGames.com

The success of ThinkOfGames.com can be attributed to its unwavering focus on the needs of its audience. Gamers return to the platform because they know they will find:

Comprehensive Reviews: From gameplay mechanics to technical performance, reviews on ThinkOfGames.com cover every aspect of a game.
Diverse Perspectives: The platform features reviews from a wide range of contributors, ensuring that different playstyles and preferences are represented.
User-Friendly Interface: Navigating ThinkOfGames.com is a breeze, making it easy for users to find the information they need quickly.

The Future of ThinkOfGames.com and Gaming Reviews

As the gaming industry continues to grow, so too will the importance of reliable reviews. ThinkOfGames.com is well-positioned to remain a leader in this space, thanks to its commitment to quality and authenticity. The platform is constantly evolving, incorporating new features such as video reviews, live streams, and community polls to enhance the user experience.

Looking ahead, reviews on ThinkOfGames.com will likely play an even bigger role in shaping gaming trends and influencing player decisions. Whether you’re a seasoned gamer or a newcomer to the scene, ThinkOfGames.com is a resource you can’t afford to ignore.

Conclusion: ThinkOfGames.com – A Game-Changer in the World of Reviews

In a world where the quality of gaming reviews can make or break a title, ThinkOfGames.com has proven itself to be a game-changer. With its in-depth analysis, unbiased opinions, and commitment to community engagement, the platform has earned its place as a trusted authority in the gaming world. As the industry continues to evolve, reviews on ThinkOfGames.com will undoubtedly remain a vital resource for gamers everywhere.

So, the next time you’re debating whether to buy a new game, remember to check out reviews on ThinkOfGames.com. Your next favorite game might just be a click away!