What to Use to Trade Cryptocurrency (Is it Legal to Make Money Trading Cryptocurrency)

What to use to trade cryptocurrency? There are mainly two ways: the first method is to buy Bitcoin through trading. The second method is to buy and sell digital currency using futures contracts. The third method is to judge the price trend based on the market situation. In terms of the market, it is generally different from traditional financial stocks. Therefore, currently most investors are still very interested in various mainstream coins and altcoins. However, these altcoins often have certain bubbles and cause losses, so there are often situations of financial loss. This situation is very common in the market. If we study it carefully, we will find that many people do not agree, or they do not understand this knowledge, and some people have not even learned about the relevant knowledge in this field, so they choose someone who can master some technical knowledge to enter the market and participate in it.

What to use to trade cryptocurrency? In addition to understanding mainstream coins, the most important thing is to understand how to invest in digital assets and how to make money from them, because many projects have their own models and many innovative points. For example, today I will introduce a blockchain game called “Let’s Catch the Monsters”. This game is also a game based on blockchain technology. It allows players to access the latest hot concept sectors such as Defi and Polkadot, and can help everyone find star projects they like and provide good returns, thereby obtaining high returns.

Is it Legal to Make Money Trading Cryptocurrency

Is it legal to make money trading cryptocurrency? Recently, Beijing Haidian District People’s Court issued a judgment on the case of “buying and selling virtual currency, ICO fundraising funds”, sentencing the defendant to a term of imprisonment ranging from three years and six months to two and a half years. If you invest in a specific digital currency without substantial gains, you will be convicted and punished; if investors fail to take timely and effective stop-loss or take reasonable measures, they can appeal to relevant departments.

Regarding this issue, I have explored and demonstrated it from a legal perspective and provided corresponding answers.

The first point: Based on blockchain as the underlying technology, products and systems developed based on technologies such as big data and cloud computing are relatively mature technology products and platforms in China.

The second point: Regarding digital asset trading, according to the current regulatory framework in China, financial institutions are not allowed to engage in illegal token issuance and financing activities or participate in overseas ICO sales and circulation, nor can they engage in other businesses.

The third point: According to Article 16 of the “People’s Republic of China Individual Income Tax Law,” without the approval of the State Council, from June 1, 2021, any unit or individual engaged in various financial illegal activities within the scope of operation established by the state shall be disposed of in accordance with this law.

The fourth point: Regarding the issue of virtual currency exchanges and the solution:

1. In response to certain situations, according to the relevant regulations of the People’s Bank of China, ICOs are prohibited as a means of illegal fundraising; 2. Clearly state that virtual currency is not a currency and belongs to the category of money market fund management, and is not protected by law. (China Daily)