4 Things Canadian Crypto Investors Need To Know For Tax Season
By Daniel Zunenshine
2017 was marked by numerous historical events, but one of them stands out in particular: the rise of cryptocurrency. Bitcoin, an anonymously founded digital currency, primarily discussed on the margins of mainstream media by techies, suddenly shot up without warning, followed by a seemingly endless stream of “altcoins”. These alternative digital currencies — notably Ethereum, Litecoin and Ripple — started attracting attention after increases in trading volume in the cryptocurrency market in the latter months of 2017.
As an asset with no intrinsic value, Bitcoin became highly controversial. Public opinion was divided between those who believed in its worth and others who chalked it up to another looming bubble, to join the historically famous cases of the 17th century Tulip-mania and the Dotcom bubble of the 90s. Whether cryptos are here to stay or just a passing fad, only time will tell.