Simplified Employee Pension (SEP) IRAs Contributions

With extensive experience as an electrical/software/coding engineer along with having a diverse financial background, Thomas Wettermann’s areas of interest include Machine Learning (ML), artificial intelligence (AI), and Financial Technology (FinTech). For the past few years, Thomas Wettermann has focused on the underlying technologies that support and promote all phases of cryptocurrency, Web 3.0, and metaverse ecosystems.

Simplified Employee Pension (SEP): (source: retirementliving.com)

A Simplified Employee Pension (SEP) is a voluntary retirement plan that an employer can establish for employees and also for themselves. Each year, an employer can decide whether it wishes to make an annual contribution to each qualified employee through this retirement plan. These funds must be deposited into a traditional Individual Retirement Account or Annuity (IRA). The employee is then free to decide how these employer contributions should be allocated within their IRA. It is a “simplified” retirement plan since the employer (typically self-employed individuals) is not required to submit any type of form or paperwork to the IRS. In contributing to this plan, the employer must adhere to certain rules and requirements as spelled out in IRS form 5305-SEP, the contents of which are discussed below. In addition, some of the more important rules and regulations are summarized. These voluntary employer-sponsored retirement plans are also compared to other self-funded retirement plans, like traditional IRAs.

What are SEP IRA Rules?

Contribution eligibility and limits There are certain contribution limits that employers must adhere to when funding a SEP IRA. For example, in 2022, contributions for each eligible employee must be based only on the first $305,000 of compensation. Earlier years had lower contribution limits. In addition, the employer’s contribution must be the same percentage of compensation for each qualified employee. This SEP IRA contribution must be paid directly into the employee’s SEP-IRA. For 2022, contributions are limited annually to the smaller of $61,000 or 25% of the employee’s compensation. If the employer establishes a SEP, all eligible employees must be allowed to participate. An eligible employee is an individual (including a self-employed individual) who meets all of the following requirements: • Employee must be at least 21 years of age • Employee has been employed by the employer initiating the SEP plan in at least 3 of the last 5 years • During 2022, the employee has received at least $650 in compensation from the contributing employer These are merely the most restrictive eligibility requirements that an employer can establish. Therefore, the employer can establish less restrictive eligibility requirements if they so choose. For example, an employer may set the minimum age requirement to 19 or may decide that an employee only needs to have been employed with the employer for 2 of the last 5 years.

All opinions expressed on this site are owned by Thomas Wettermann and should never be considered as advice in any form. Thomas Wettermann is not an independent financial advisor. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as a general market commentary of Thomas Wettermann and does not constitute investment advice. Thomas Wettermann will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. Trading digital financial assets such as cryptocurrencies can carry a high level of risk, and may not be suitable for all investors. Before deciding to invest, purchase, and/or trade cryptocurrency you should carefully consider your investment objectives, level of experience, adversity to risk, and volatilities. You may possibly sustain a loss of some or all of your initial investment; therefore, you should not invest money you cannot afford to lose. You should be aware of all the risks associated with cryptocurrency trading, and seek advice from a qualified and independent financial advisor. All the views expressed on this site are those of Thomas Wettermann and do not represent the opinions of any entity with which Thomas Wettermann has been, is currently, or will be affiliated.

 

How Do Simplified Employee Pension (SEP) IRAs Work?

With extensive experience as an electrical/software/coding engineer along with having a diverse financial background, Thomas Wettermann’s areas of interest include Machine Learning (ML), artificial intelligence (AI), and Financial Technology (FinTech). For the past few years, Thomas Wettermann has focused on the underlying technologies that support and promote all phases of cryptocurrency, Web 3.0, and metaverse ecosystems.

Simplified Employee Pension (SEP): (source: retirementliving.com)

A Simplified Employee Pension (SEP) is a voluntary retirement plan that an employer can establish for employees and also for themselves.

Each year, an employer can decide whether it wishes to make an annual contribution to each qualified employee through this retirement plan. These funds must be deposited into a traditional Individual Retirement Account or Annuity (IRA).

The employee is then free to decide how these employer contributions should be allocated within their IRA. It is a “simplified” retirement plan since the employer (typically self-employed individuals) is not required to submit any type of form or paperwork to the IRS. In contributing to this plan, the employer must adhere to certain rules and requirements as spelled out in IRS form 5305-SEP, the contents of which are discussed below.

In addition, some of the more important rules and regulations are summarized. These voluntary employer-sponsored retirement plans are also compared to other self-funded retirement plans, like traditional IRAs.

How do SEP IRAs Work?

SEP IRAs must be established and set up by an employer.

To set up these plans, the employer must first choose a SEP IRA account provider like a brokerage or other financial institution that is authorized to administer IRAs. Then, the employer must develop a formal written agreement.

IRS Form 5305-SEP is a single page of instructions regarding what this written agreement must contain. Alternatively, the SEP IRA account provider can prepare this document. Then, if the employer has one or more employees, the employer must give all eligible employees information about the SEP IRA.

To meet this obligation, employees must also be given a copy of IRS Form 5305-SEP. The account provider can provide this information to each eligible employee as well.

Next, the employer needs to establish a separate SEP IRA account for each eligible employee with the selected account provider.

As a final step, the employer will deposit designated contributions with the account provider and then these funds will then be deposited in each of the employees’ accounts. Employees can then choose from the investment options that the account provider offers. These options commonly include stocks, bonds, mutual funds, and ETFs.

All opinions expressed on this site are owned by Thomas Wettermann and should never be considered as advice in any form. Thomas Wettermann is not an independent financial advisor.

Any opinions, news, research, analyses, prices, or other information contained on this website is provided as a general market commentary of Thomas Wettermann and does not constitute investment advice. Thomas Wettermann will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.

Trading digital financial assets such as cryptocurrencies can carry a high level of risk, and may not be suitable for all investors. Before deciding to invest, purchase, and/or trade cryptocurrency you should carefully consider your investment objectives, level of experience, adversity to risk, and volatilities. You may possibly sustain a loss of some or all of your initial investment; therefore, you should not invest money you cannot afford to lose. You should be aware of all the risks associated with cryptocurrency trading, and seek advice from a qualified and independent financial advisor.

All the views expressed on this site are those of Thomas Wettermann and do not represent the opinions of any entity with which Thomas Wettermann has been, is currently, or will be affiliated.

 

Simplified Employee Pension (SEP) IRAs

With extensive experience as an electrical/software/coding engineer along with having a diverse financial background, Thomas Wettermann’s areas of interest include Machine Learning (ML), artificial intelligence (AI), and Financial Technology (FinTech). For the past few years, Thomas Wettermann has focused on the underlying technologies that support and promote all phases of cryptocurrency, Web 3.0, and metaverse ecosystems.

Simplified Employee Pension (SEP): (source: retirementliving.com)

A Simplified Employee Pension (SEP) is a voluntary retirement plan that an employer can establish for employees and also for themselves.

Each year, an employer can decide whether it wishes to make an annual contribution to each qualified employee through this retirement plan. These funds must be deposited into a traditional Individual Retirement Account or Annuity (IRA).

The employee is then free to decide how these employer contributions should be allocated within their IRA. It is a “simplified” retirement plan since the employer (typically self-employed individuals) is not required to submit any type of form or paperwork to the IRS.

In contributing to this plan, the employer must adhere to certain rules and requirements as spelled out in IRS form 5305-SEP, the contents of which are discussed below. In addition, some of the more important rules and regulations are summarized.

These voluntary employer-sponsored retirement plans are also compared to other self-funded retirement plans, like traditional IRAs.

All opinions expressed on this site are owned by Thomas Wettermann and should never be considered as advice in any form.

Thomas Wettermann is not an independent financial advisor. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as a general market commentary of Thomas Wettermann and does not constitute investment advice. Thomas Wettermann will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.

Trading digital financial assets such as cryptocurrencies can carry a high level of risk, and may not be suitable for all investors. Before deciding to invest, purchase, and/or trade cryptocurrency you should carefully consider your investment objectives, level of experience, adversity to risk, and volatilities. You may possibly sustain a loss of some or all of your initial investment; therefore, you should not invest money you cannot afford to lose. You should be aware of all the risks associated with cryptocurrency trading, and seek advice from a qualified and independent financial advisor.

All the views expressed on this site are those of Thomas Wettermann and do not represent the opinions of any entity with which Thomas Wettermann has been, is currently, or will be affiliated.

 

Cardano Price Prediction

With extensive experience as an electrical/software/coding engineer along with having a diverse financial background, Thomas Wettermann’s areas of interest include Machine Learning (ML), artificial intelligence (AI), and Financial Technology (FinTech). For the past few years, Thomas Wettermann has focused on the underlying technologies that support and promote all phases of cryptocurrency, Web 3.0, and metaverse ecosystems.

Cardano (ADA) is a third-generation blockchain that builds upon Ethereum - a second-generation blockchain.

Cardano Mini Logo (source: crowdwisdom.live)

As a third-generation blockchain, Cardano enhances those things that the second-generation blockchain Ethereum excelled at: scalability, efficiency, and security.

What Is Cardano’s Ecosystem?

The Cardano blockchain is an open source blockchain which means that its records are made public and are readily available. Cardano is also a decentralized blockchain network that, like Ethereum, supports self-executing computer programs by way of smart contracts.

The code and the agreements contained within the Cardano ecosystem reside in a distributed, decentralized blockchain network. With these smart contracts, the code controls the execution, and transactions are trackable and irreversible.

As such, Cardano was created to enable developers to build and publish smart contracts and distributed applications (dApps).

Smart Contract (Source: theengineeringprojects.com)

All smart contracts residing on the Cardano blockchain have certain similar traits.

For example, because smart contracts are coded into the blockchain, they have a status. This status or “state” is shared amongst every single blockchain node across the entire network. So, each node running this blockchain has a copy of the present status of every single smart contract residing on the blockchain.

Importantly, these smart contracts are also immutable. That is, they cannot be altered. Although there are ways to extend them or replace parts, there is no way to secretively manipulate the content of a smart contract without drawing the attention of the network.

In addition, the logic of a smart contract cannot be distorted. With a smart contract, there is no room for interpretation of the terms of the agreement. That is why these coded agreements are referred to as “contracts.” They act like an agreement between parties, but one which needs no third party to initiate, interpret, or oversee the results of the contract.

Cardano is structured so as to enhance these smart contracts making them easier to scale. With such a network, almost anyone – not just developers – can create their own decentralized applications.

What will Cardano be Worth in a Year?

Like every cryptocurrency, Cardano has its risks. But with Cardano, the potential reward is worth the risk.

Cardano hit an all-time high last September. Since then, it has struggled falling nearly 65% in value.

Yes, Cardano has struggled over the last couple of months as evident from its one-year graph reproduced above. After reaching an all-time high of $3.10 last September, Cardano has experienced a bit of a market dip.

But Cardano is not alone. Ethereum, the second-largest cryptocurrency, has dropped roughly 35 percent since November. And the total market value of all cryptocurrencies lost about $1.4 trillion in value over the last three months.

The US stock market has fared no better. For example, year to date, the S&P 500 Index is down 7.0% and the Dow Jones is down 4.4%. So, Cardano’s struggles are similar to those experienced in other financial markets.

Cardano is well positioned to see positive price action over the next year or so.

Scalability has been a major challenge for the biggest cryptocurrencies. Bitcoin processes about five transactions per second, and Ethereum processes about 15. That leads to slower transactions with higher fees. Visa, on the other hand, processes about 1,700 transactions per second. In tests, Cardano has processed 257 transactions per second.

And it's also planning to add another layer, called Hydra, to its blockchain. With this technology, it could potentially process 1 million transactions per second.

Development on the Cardano network continues to see significant growth and is showing signs that it is gaining in popularity amongst developers. As of December, there are over 1,000 smart contracts live on Cardano's mainnet, which are mainly focused on DeFi. And there are currently 2,300 more smart contracts just waiting to go live on the Cardano network.

Conclusion

Cardano is a decentralized blockchain that offers organizations an efficient platform to conduct smart contracts and dApps. As a third-generation blockchain, it has several advantages over older blockchain technologies, such as the first-generation Bitcoin and second-generation Ethereum. Cardano should experience continued growth over the next few years as its enhanced processing speeds will continue to attract DeFi developers.

All opinions expressed on this site are owned by Thomas Wettermann and should never be considered as advice in any form. Thomas Wettermann is not an independent financial advisor.

Any opinions, news, research, analyses, prices, or other information contained on this website is provided as a general market commentary of Thomas Wettermann and does not constitute investment advice. Thomas Wettermann will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.

Trading digital financial assets such as cryptocurrencies can carry a high level of risk, and may not be suitable for all investors. Before deciding to invest, purchase, and/or trade cryptocurrency you should carefully consider your investment objectives, level of experience, adversity to risk, and volatilities. You may possibly sustain a loss of some or all of your initial investment; therefore, you should not invest money you cannot afford to lose. You should be aware of all the risks associated with cryptocurrency trading, and seek advice from a qualified and independent financial advisor.

All the views expressed on this site are those of Thomas Wettermann and do not represent the opinions of any entity with which Thomas Wettermann has been, is currently, or will be affiliated.

 

Cardano versus Ethereum

With extensive experience as an electrical/software/coding engineer along with having a diverse financial background, Thomas Wettermann’s areas of interest include Machine Learning (ML), artificial intelligence (AI), and Financial Technology (FinTech). For the past few years, Thomas Wettermann has focused on the underlying technologies that support and promote all phases of cryptocurrency, Web 3.0, and metaverse ecosystems.

Cardano (ADA) is a third-generation blockchain that builds upon Ethereum - a second-generation blockchain.

Cardano Mini Logo (source: crowdwisdom.live)

As a third-generation blockchain, Cardano enhances those things that the second-generation blockchain Ethereum excelled at: scalability, efficiency, and security.

What Is Cardano’s Ecosystem?

The Cardano blockchain is an open source blockchain which means that its records are made public and are readily available. Cardano is also a decentralized blockchain network that, like Ethereum, supports self-executing computer programs by way of smart contracts.

The code and the agreements contained within the Cardano ecosystem reside in a distributed, decentralized blockchain network. With these smart contracts, the code controls the execution, and transactions are trackable and irreversible.

As such, Cardano was created to enable developers to build and publish smart contracts and distributed applications (dApps).

Smart Contract (Source: theengineeringprojects.com)

All smart contracts residing on the Cardano blockchain have certain similar traits.

For example, because smart contracts are coded into the blockchain, they have a status. This status or “state” is shared amongst every single blockchain node across the entire network. So, each node running this blockchain has a copy of the present status of every single smart contract residing on the blockchain.

Importantly, these smart contracts are also immutable. That is, they cannot be altered. Although there are ways to extend them or replace parts, there is no way to secretively manipulate the content of a smart contract without drawing the attention of the network.

In addition, the logic of a smart contract cannot be distorted. With a smart contract, there is no room for interpretation of the terms of the agreement. That is why these coded agreements are referred to as “contracts.” They act like an agreement between parties, but one which needs no third party to initiate, interpret, or oversee the results of the contract.

Cardano is structured so as to enhance these smart contracts making them easier to scale. With such a network, almost anyone – not just developers – can create their own decentralized applications.

Is Cardano Better than Ethereum?

There are three main advantages of the third-generation Cardano blockchain over the Ethereum blockchain.

First, Cardano’s blockchain network is a multi-layered blockchain that utilizes two layers: a Cardano Settlement Layer (CSL) and a Cardano Computation Layer (CCL). The CSL is used for token transfers.

The CCL supports the smart contract functionality that enables developers to create decentralized applications. Separated blockchain layers result in operations on both layers being more efficient, increasing scalability and TPS.

A bi-layered approach allows Cardano to upgrade one of the layers while leaving the other layer intact or performing two separate upgrades with independent design criteria.

By contrast, Ethereum is a single-layer blockchain where all token transactions and smart contracts are supported on the same layer. This leads to undesired congestion and high transaction fees or gas fees.

Second, Cardano utilizes a proof-of-stake (PoS) consensus algorithm, referred to as Ouroboros. This PoS system is more scalable and energy-efficient than proof-of-work (PoW) and claims to be the first provably secure system of its kind.

In a PoS blockchain, each node in the network stakes their assets in the PoS blockchain. These staking nodes, referred to as validators, operate similar to the miners in PoW blockchains.

One difference between PoW and PoS is that rather than executing energy-intensive computing calculations, PoS validators put up a stake as a form of collateral. This collateral often takes the form of ADA.

By staking ADA to the network, these nodes now have the opportunity to organize transactions into blocks and successfully write these blocks into the Cardano ledger. Validators act to “validate” or ensure that the transactions within a new block added to the blockchain are indeed true and accurate.

Staked ADA acts to guarantee that the validators’ entries into the ledger are performed according to the network’s predefined rules. For example, if a validator attempts to upload an incorrect block or is offline for a certain period of time, the validator may sacrifice the staked tokens.

Validators help achieve consensus amongst other validators while at the same time build upon the PoS network. Successful validators earn different types of rewards, depending on the network. These are typically provided by way of transaction fees that are paid by network users or by the issuance of new coins.

Each validator has a chance to write the next block to the blockchain. However, the larger the stake or staking power, the greater the possibility of earning the right to validate the next block. Therefore, instead of competing head to head with validators having a large amount of staking power, some validators will combine their staking power by joining staking pools.

PoS provides certain advantages over PoW networks, such as Ethereum. For example, PoS does not require energy-intensive data mining hardware to validate new blocks to the blockchain. In addition, PoS networks are faster and can process more transactions than PoW networks.

Third, Cardano is the first known blockchain to utilize a scientific peer-reviewed process prior to the release of any new service. Peer-review provides a heightened degree of confidence and assurance than is offered by other cryptocurrency projects. Initially, academic papers are written to detail new proposals and outline underlying technologies. These academic papers are made publicly available and are open for critique and comments for independent review by computer scientists and other interested academic parties.

All opinions expressed on this site are owned by Thomas Wettermann and should never be considered as advice in any form. Thomas Wettermann is not an independent financial advisor.

Any opinions, news, research, analyses, prices, or other information contained on this website is provided as a general market commentary of Thomas Wettermann and does not constitute investment advice. Thomas Wettermann will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.

Trading digital financial assets such as cryptocurrencies can carry a high level of risk, and may not be suitable for all investors. Before deciding to invest, purchase, and/or trade cryptocurrency you should carefully consider your investment objectives, level of experience, adversity to risk, and volatilities. You may possibly sustain a loss of some or all of your initial investment; therefore, you should not invest money you cannot afford to lose. You should be aware of all the risks associated with cryptocurrency trading, and seek advice from a qualified and independent financial advisor.

All the views expressed on this site are those of Thomas Wettermann and do not represent the opinions of any entity with which Thomas Wettermann has been, is currently, or will be affiliated.

 

Who is Behind Cardano?

With extensive experience as an electrical/software/coding engineer along with having a diverse financial background, Thomas Wettermann’s areas of interest include Machine Learning (ML), artificial intelligence (AI), and Financial Technology (FinTech). For the past few years, Thomas Wettermann has focused on the underlying technologies that support and promote all phases of cryptocurrency, Web 3.0, and metaverse ecosystems.

Cardano (ADA) is a third-generation blockchain that builds upon Ethereum - a second-generation blockchain.

Cardano Logo (source: crowdwisdom.live)

As a third-generation blockchain, Cardano enhances those things that the second-generation blockchain Ethereum excelled at: scalability, efficiency, and security.

What Is Cardano’s Ecosystem?

The Cardano blockchain is an open source blockchain which means that its records are made public and are readily available.

Cardano is also a decentralized blockchain network that, like Ethereum, supports self-executing computer programs by way of smart contracts. The code and the agreements contained within the Cardano ecosystem reside in a distributed, decentralized blockchain network.

With these smart contracts, the code controls the execution, and transactions are trackable and irreversible. As such, Cardano was created to enable developers to build and publish smart contracts and distributed applications (dApps).

Smart Contract (Source: theengineeringprojects.com)

All smart contracts residing on the Cardano blockchain have certain similar traits. For example, because smart contracts are coded into the blockchain, they have a status. This status or “state” is shared amongst every single blockchain node across the entire network.

So, each node running this blockchain has a copy of the present status of every single smart contract residing on the blockchain. Importantly, these smart contracts are also immutable. That is, they cannot be altered. Although there are ways to extend them or replace parts, there is no way to secretively manipulate the content of a smart contract without drawing the attention of the network.

In addition, the logic of a smart contract cannot be distorted. With a smart contract, there is no room for interpretation of the terms of the agreement. That is why these coded agreements are referred to as “contracts.” They act like an agreement between parties, but one which needs no third party to initiate, interpret, or oversee the results of the contract.

Cardano is structured so as to enhance these smart contracts making them easier to scale. With such a network, almost anyone – not just developers – can create their own decentralized applications.

Who Is Behind Cardano?

Charles Hoskinson is a co-founder of Ethereum along with Vitalik Buterin. During project development, Hoskinson advocated that Ethereum should be a commercial project. Buterin disagreed, thinking that Ethereum should be more of a nonprofit endeavor.

Due to their disagreement, Buterin removed Hoskinson from the Ethereum team in 2014. Having experienced the birth and initial evolution of Ethereum, Hoskinson set out to create a different type of blockchain. In 2015, he founded the Cardano ecosystem.

Unlike any other blockchain system, Cardano is the first blockchain that is based on peer-reviewed research, rather than just a Whitepaper.

All opinions expressed on this site are owned by Thomas Wettermann and should never be considered as advice in any form. Thomas Wettermann is not an independent financial advisor.

Any opinions, news, research, analyses, prices, or other information contained on this website is provided as a general market commentary of Thomas Wettermann and does not constitute investment advice. Thomas Wettermann will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.

Trading digital financial assets such as cryptocurrencies can carry a high level of risk, and may not be suitable for all investors. Before deciding to invest, purchase, and/or trade cryptocurrency you should carefully consider your investment objectives, level of experience, adversity to risk, and volatilities. You may possibly sustain a loss of some or all of your initial investment; therefore, you should not invest money you cannot afford to lose. You should be aware of all the risks associated with cryptocurrency trading, and seek advice from a qualified and independent financial advisor.

All the views expressed on this site are those of Thomas Wettermann and do not represent the opinions of any entity with which Thomas Wettermann has been, is currently, or will be affiliated.

 

Purchasing Cardano’s Native Token

With extensive experience as an electrical/software/coding engineer along with having a diverse financial background, Thomas Wettermann’s areas of interest include Machine Learning (ML), artificial intelligence (AI), and Financial Technology (FinTech). For the past few years, Thomas Wettermann has focused on the underlying technologies that support and promote all phases of cryptocurrency, Web 3.0, and metaverse ecosystems.

Cardano (ADA) is a third-generation blockchain that builds upon Ethereum - a second-generation blockchain.

Cardano Logo (source: crowdwisdom.live)

As a third-generation blockchain, Cardano enhances those things that the second-generation blockchain Ethereum excelled at: scalability, efficiency, and security.

What Is Cardano’s Ecosystem?

The Cardano blockchain is an open source blockchain which means that its records are made public and are readily available. Cardano is also a decentralized blockchain network that, like Ethereum, supports self-executing computer programs by way of smart contracts.

The code and the agreements contained within the Cardano ecosystem reside in a distributed, decentralized blockchain network. With these smart contracts, the code controls the execution, and transactions are trackable and irreversible.

As such, Cardano was created to enable developers to build and publish smart contracts and distributed applications (dApps).

Smart Contract (Source: theengineeringprojects.com)

All smart contracts residing on the Cardano blockchain have certain similar traits.

For example, because smart contracts are coded into the blockchain, they have a status. This status or “state” is shared amongst every single blockchain node across the entire network. So, each node running this blockchain has a copy of the present status of every single smart contract residing on the blockchain.

Importantly, these smart contracts are also immutable. That is, they cannot be altered. Although there are ways to extend them or replace parts, there is no way to secretively manipulate the content of a smart contract without drawing the attention of the network.

In addition, the logic of a smart contract cannot be distorted. With a smart contract, there is no room for interpretation of the terms of the agreement. That is why these coded agreements are referred to as “contracts.”

They act like an agreement between parties, but one which needs no third party to initiate, interpret, or oversee the results of the contract. Cardano is structured so as to enhance these smart contracts making them easier to scale. With such a network, almost anyone – not just developers – can create their own decentralized applications.

How Do You Buy Cardano Ecosystem Coins?

Among cryptocurrencies, Cardano presently has the sixth-highest market value at $35 billion, trailing behind Bitcoin's $750 billion, and Ethereum's second place market cap of $304 billion. In 2021, Cardano experienced a decent year-to-date market value gain of 200x, having reached an all-time high of $3.10 last September.

Cardano One-Year Pricing Chart (source: coinmarketcap.com)

Here are the steps to buy Cardano ADA.

Select A Crypto Exchange

As the sixth most popular cryptocurrency, Cardano can be purchased on a number of different trading platforms or cryptocurrency exchanges. Crypto exchanges allow you to act as a buyer and/or seller by exchanging your fiat money (US dollars) for cryptocurrencies like Bitcoin or Cardano.

Some popular crypto exchange choices to purchase Cardano ADA include Binance, Coinbase, Kraken, SoFi, and eToro.

In considering a crypto exchange, you should investigate whether you want to use a fiat exchange or a crypto-to-crypto exchange.

A fiat exchange will accept your fiat or ordinary currency as a deposit which can then be used to purchase your ADA. A crypto-to-crypto exchange allows you to deposit your existing crypto coins, which you can then exchange for ADA.

In identifying the desired trading platform, you should also research the transaction fee structures as fees charged against your account can vary from one exchange to another.

Create an Exchange Account

Create a trading account once you have selected an exchange. To create a trading account, you will need to provide certain personal information, like your name, address, social security number, and perhaps one or more forms of identification. The exchange will then proceed to verify your personal information so that you can finalize your trading account.

Deposit a Balance into Your New Account

After verification, you can deposit a balance into your account. If your account is on a fiat exchange, you can link your account directly to an existing bank account, a credit card, or a debit car. Fiat or ordinary currency can then be directly deposited into your account so that you can begin trading.

If your established account is on a crypto-to-crypto exchange, depositing your existing cryptocurrency can be a little more complicated. To deposit your cryptocurrency into these accounts you must send the code for the coins that you want to be deposited. This may take longer than an hour or two to deposit, depending on the type of cryptocurrency and the type of exchange.

Begin Trading

Now that you have a verified account with a balance, you can begin purchasing Cardano ADA. Depending on the amount of your purchase and the current market price (today’s current price of $1.02), you will probably be buying one or more ADA tokens.

Store Your ADA

You can use your exchange account to store your purchased ADA. Alternatively, you can use a digital wallet to store and manage your ADA.

A digital wallet is a location where you can securely store your ADA. You actually do not store your ADA as a physical coin, but rather you store the keys that provide access to your ADA on the blockchain.

There are different types of crypto wallets such as a “hot” wallet (software) or a “cold” wallet (hardware).

There are two types of "hot" wallets. There are software wallets and online wallets. These two types of wallets require an internet connection that allow you to gain access to your ADA stored in your online wallet, hence the name “hot” wallet. Perhaps the most secure type of wallet is called a "cold" wallet.

A “cold” wallet is a digital wallet that stores your privacy keys offline on a physical device, such as a USB drive. Cold wallets are referred to as “cold” as they are, unlike a “hot” wallet, not actively linked to the internet.

Trezor Cold Wallets (source: trezor.io)

Wallets that can be used to store your Cardano ADA include:

1. Trezor

2. Binance

3. Kraken

4. Chain Wallet

5. Ledger

All opinions expressed on this site are owned by Thomas Wettermann and should never be considered as advice in any form. Thomas Wettermann is not an independent financial advisor.

Any opinions, news, research, analyses, prices, or other information on this website is provided as a general market commentary of Thomas Wettermann and does not constitute investment advice. Thomas Wettermann will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. Trading digital financial assets such as cryptocurrencies can carry a high level of risk, and may not be suitable for all investors.

Before deciding to invest, purchase, and/or trade cryptocurrency you should carefully consider your investment objectives, level of experience, adversity to risk, and volatilities. You may possibly sustain a loss of some or all of your initial investment; therefore, you should not invest money you cannot afford to lose. You should be aware of all the risks associated with cryptocurrency trading, and seek advice from a qualified and independent financial advisor.

All the views expressed on this site are those of Thomas Wettermann and do not represent the opinions of any entity with which Thomas Wettermann has been, is currently, or will be affiliated.

 

Cardano’s Native Token

With extensive experience as an electrical/software/coding engineer along with having a diverse financial background, Thomas Wettermann’s areas of interest include Machine Learning (ML), artificial intelligence (AI), and Financial Technology (FinTech). For the past few years, Thomas Wettermann has focused on the underlying technologies that support and promote all phases of cryptocurrency, Web 3.0, and metaverse ecosystems.

Cardano (ADA) is a third-generation blockchain that builds upon Ethereum - a second-generation blockchain.

Cardano Logo (source: crowdwisdom.live)

As a third-generation blockchain, Cardano enhances those things that the second generation blockchain Ethereum excelled at: scalability, efficiency, and security.

What Is Cardano’s Ecosystem?

The Cardano blockchain is an open source blockchain which means that its records are made public and are readily available. Cardano is also a decentralized blockchain network that, like Ethereum, supports self-executing computer programs by way of smart contracts.

The code and the agreements contained within the Cardano ecosystem reside in a distributed, decentralized blockchain network. With these smart contracts, the code controls the execution, and transactions are trackable and irreversible.

As such, Cardano was created to enable developers to build and publish smart contracts and distributed applications (dApps).

Smart Contract (Source: theengineeringprojects.com)

All smart contracts residing on the Cardano blockchain have certain similar traits.

For example, because smart contracts are coded into the blockchain, they have a status. This status or “state” is shared amongst every single blockchain node across the entire network. So, each node running this blockchain has a copy of the present status of every single smart contract residing on the blockchain.

Importantly, these smart contracts are also immutable. That is, they cannot be altered. Although there are ways to extend them or replace parts, there is no way to secretively manipulate the content of a smart contract without drawing the attention of the network.

In addition, the logic of a smart contract cannot be distorted. With a smart contract, there is no room for interpretation of the terms of the agreement. That is why these coded agreements are referred to as “contracts.” They act like an agreement between parties, but one which needs no third party to initiate, interpret, or oversee the results of the contract.

Cardano is structured so as to enhance these smart contracts making them easier to scale. With such a network, almost anyone – not just developers – can create their own decentralized applications.

What is the Native Token of the Cardano Ecosystem?

The Cardano ecosystem supports peer-to-peer transactions using its cryptocurrency ADA. This token is named after Ada Lovelace, a 19th-century mathematician and who is recognized as the first computer programmer.

Cardano currently has a circulating supply of 33.5M ADA coins. The maximum supply of the ADA is limited to 45 billion tokens which are to be released over time through minting. This limit is put in place by the Cardano blockchain's code and represents the absolute maximum ADA that can be minted.

Much like the Bitcoin coin supply hard cap, ADA’s hard cap acts like a deflationary attribute to this token. ADA can be exchanged for fiat currencies such as the United States dollar and stored securely in hot and cold wallets.

ADA runs on Ouroboros which is a proof-of-stake-styled consensus protocol.

All opinions expressed on this site are owned by Thomas Wettermann and should never be considered as advice in any form. Thomas Wettermann is not an independent financial advisor.

Any opinions, news, research, analyses, prices, or other information on this website is provided as a general market commentary of Thomas Wettermann and does not constitute investment advice. Thomas Wettermann will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.

Trading digital financial assets such as cryptocurrencies can carry a high level of risk, and may not be suitable for all investors. Before deciding to invest, purchase, and/or trade cryptocurrency you should carefully consider your investment objectives, level of experience, adversity to risk, and volatilities. You may possibly sustain a loss of some or all of your initial investment; therefore, you should not invest money you cannot afford to lose. You should be aware of all the risks associated with cryptocurrency trading, and seek advice from a qualified and independent financial advisor.

All the views expressed on this site are those of Thomas Wettermann and do not represent the opinions of any entity with which Thomas Wettermann has been, is currently, or will be affiliated.

 

What Is Cardano?

With extensive experience as an electrical/software/coding engineer along with having a diverse financial background, Thomas Wettermann’s areas of interest include Machine Learning (ML), artificial intelligence (AI), and Financial Technology (FinTech). For the past few years, Thomas Wettermann has focused on the underlying technologies that support and promote all phases of cryptocurrency, Web 3.0, and metaverse ecosystems.

Cardano (ADA) is a third-generation blockchain that builds upon Ethereum - a second-generation blockchain.

Cardano Logo (source: crowdwisdom.live)

As a third-generation blockchain, Cardano enhances those things that the second-generation blockchain Ethereum excelled at: scalability, efficiency, and security.

What Is Cardano’s Ecosystem?

The Cardano blockchain is an open source blockchain which means that its records are made public and are readily available. Cardano is also a decentralized blockchain network that, like Ethereum, supports self-executing computer programs by way of smart contracts.

The code and the agreements contained within the Cardano ecosystem reside in a distributed, decentralized blockchain network. With these smart contracts, the code controls the execution, and transactions are trackable and irreversible.

As such, Cardano was created to enable developers to build and publish smart contracts and distributed applications (dApps).

Smart Contract (Source: theengineeringprojects.com)

All smart contracts residing on the Cardano blockchain have certain similar traits.

For example, because smart contracts are coded into the blockchain, they have a status. This status or “state” is shared amongst every single blockchain node across the entire network. So, each node running this blockchain has a copy of the present status of every single smart contract residing on the blockchain.

Importantly, these smart contracts are also immutable. That is, they cannot be altered.

Although there are ways to extend them or replace parts, there is no way to secretively manipulate the content of a smart contract without drawing the attention of the network. In addition, the logic of a smart contract cannot be distorted. With a smart contract, there is no room for interpretation of the terms of the agreement. That is why these coded agreements are referred to as “contracts.”

They act like an agreement between parties, but one which needs no third party to initiate, interpret, or oversee the results of the contract. Cardano is structured so as to enhance these smart contracts making them easier to scale.

With such a network, almost anyone – not just developers – can create their own decentralized applications.

All opinions expressed on this site are owned by Thomas Wettermann and should never be considered as advice in any form. Thomas Wettermann is not an independent financial advisor. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as a general market commentary of Thomas Wettermann and does not constitute investment advice.

Thomas Wettermann will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.

Trading digital financial assets such as cryptocurrencies can carry a high level of risk, and may not be suitable for all investors. Before deciding to invest, purchase, and/or trade cryptocurrency you should carefully consider your investment objectives, level of experience, adversity to risk, and volatilities. You may possibly sustain a loss of some or all of your initial investment; therefore, you should not invest money you cannot afford to lose. You should be aware of all the risks associated with cryptocurrency trading, and seek advice from a qualified and independent financial advisor.

All the views expressed on this site are those of Thomas Wettermann and do not represent the opinions of any entity with which Thomas Wettermann has been, is currently, or will be affiliated.

 

Staking with Binance

With extensive experience as an electrical/software/coding engineer along with having a diverse financial background, Thomas Wettermann’s areas of interest include Machine Learning (ML), artificial intelligence (AI), and Financial Technology (FinTech). For the past few years, Thomas Wettermann has focused on the underlying technologies that support and promote all phases of cryptocurrency, Web 3.0, and metaverse ecosystems.

Binance Logo (Source: Binance Twitter)

Founded in 2017, Binance is now the world’s largest cryptocurrency exchange when one considers trading volume. Indeed, Binance’s trading volume is more than three times larger than its nearest crypto exchange competitor Coinbase Exchange.

In 2019, Binance stated that it was “unable to provide services to any U.S. person" and that it would partner with a U.S. company called Binance.US.

US-based investors trying to access the Binance.com website are now provided the following warning: “Binance is unable to provide services to U.S. users. Binance.US (BAM Trading Services) is a US-regulated cryptocurrency trading platform.”

Binance.US Logo (source: Binance.US)

Binance.US is an online service that offers US-based investors the opportunity to buy, sell, and store cryptocurrencies. In just three years, Binance.US has already become the tenth largest cryptocurrency exchange when one considers trading volume.

How do you Stake on Binance.US?

Staking is a way of earning rewards while you allow Binance.US to utilize certain of your digital assets. Binance.US allows staking for certain cryptocurrencies including VET, XTZ, ATOM, EOS, ONE, and ALGO.

To stake your coins on Binance.US, follow the following steps.

Step 1: Go to Staking Page

Sign in to your account and then select the New tab. From the drop-down menu, select the Binance Earn option.

Binance Earn (source: Binance.com)

Step 2: Go to Locked Staking

Next, select Locked Staking option by clicking on the Go to Staking link.

Locked Staking Option (source: Binance.com)

Step 3: Identify Coin to be Staked

In the Locked Staking window reproduced below, click the Display available only. This will display a list of currently available cryptocurrency staking options.

Currently Available Staking Options (source: Binance.com)

Now, identify the coin that you want to stake and then click the Stake Now button. In this example, we selected the coin LUNA to stake. You will now be presented with the following Locked Staking screen.

Locked Staking Screen (source: Binance.com)

Under the Locked Staking heading, you can see that the selected staking coin is “LUNA.”

Under the heading Duration, select the stake duration that you are seeking: 15, 30, 60, or 90 days.

In addition, you can select a Lock Amount to lock. A Locked Amount Limitation minimum and maximum may also be provided.

On the right-hand side of this screen, you will find a summary of staking information including Stake Date, Value Date, Interest Period, Redemption Date, Estimated APY, and Estimated Interests.

If you agree to this summary information, tick the box that you agree to the Binance Staking Service Agreement and then finally click the Confirm button.

You have now successfully staked the LUNA coin.

Conclusion

Several investment activities offered through either Binance or Binance.US have been summarized. Keep in mind, if you are an investor that resides outside of the US, you need to utilize the features offered by Binance. Otherwise, use Binance.US.

As the crypto investment market is constantly changing and evolving, visit the website for these respective currency exchanges to make sure that you have the most updated information regarding your investment trading strategies.

All opinions expressed on this site are owned by Thomas Wettermann and should never be considered as advice in any form. Thomas Wettermann is not an independent financial advisor. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as a general market commentary of Thomas Wettermann and does not constitute investment advice.

Thomas Wettermann will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.

Trading digital financial assets such as cryptocurrencies can carry a high level of risk, and may not be suitable for all investors. Before deciding to invest, purchase, and/or trade cryptocurrency you should carefully consider your investment objectives, level of experience, adversity to risk, and volatilities. You may possibly sustain a loss of some or all of your initial investment; therefore, you should not invest money you cannot afford to lose. You should be aware of all the risks associated with cryptocurrency trading, and seek advice from a qualified and independent financial advisor.

All the views expressed on this site are those of Thomas Wettermann and do not represent the opinions of any entity with which Thomas Wettermann has been, is currently, or will be affiliated.

 

Binance IRS Reporting

With extensive experience as an electrical/software/coding engineer along with having a diverse financial background, Thomas Wettermann’s areas of interest include Machine Learning (ML), artificial intelligence (AI), and Financial Technology (FinTech). For the past few years, Thomas Wettermann has focused on the underlying technologies that support and promote all phases of cryptocurrency, Web 3.0, and metaverse ecosystems.

Binance Logo (Source: Binance Twitter)

Founded in 2017, Binance is now the world’s largest cryptocurrency exchange when one considers trading volume. Indeed, Binance’s trading volume is more than three times larger than its nearest crypto exchange competitor Coinbase Exchange.

In 2019, Binance stated that it was “unable to provide services to any U.S. person" and that it would partner with a U.S. company called Binance.US.

US-based investors trying to access the Binance.com website are now provided the following warning: “Binance is unable to provide services to U.S. users. Binance.US (BAM Trading Services) is a US-regulated cryptocurrency trading platform.”

Binance.US Logo (source: Binance.US)

Binance.US is an online service that offers US-based investors the opportunity to buy, sell, and store cryptocurrencies. In just three years, Binance.US has already become the tenth largest cryptocurrency exchange when one considers trading volume.

Does Binance Report to the Internal Revenue Service (IRS)?

As previously noted, Binance.com has stopped supporting US based investors and directs these investors to Binance US.

As called for by the IRS, Binance US provides customer information based on the KYC identification data that each user provides when they establish a Binance US account.

Previously, it was Binance’s practice to send out a 1099-K form to US-based investors and the IRS.

However, Binance has now changed its practice and will now no longer send these forms out.

Here is Binance’s explanation of this change:

"Previously, Binance.US took the position that it was a Third Party Settlement Organization (“TPSO”) under Section 6050W of the Internal Revenue Code and accordingly, filed Forms 1099-K for certain transactions settled on the exchange. After further evaluation and general indications from the IRS on the intended direction for future reporting, Binance.US has decided not to issue Forms 1099-K for customers on the exchange for the tax year 2021 and beyond."

Please note that the IRS can demand that US crypto exchanges turn over your investment and trading information. For example, the IRS has successfully legally compelled US exchanges such as Coinbase to turn over user data through the use of John Doe summonses.

All opinions expressed on this site are owned by Thomas Wettermann and should never be considered as advice in any form. Thomas Wettermann is not an independent financial advisor. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as a general market commentary of Thomas Wettermann and does not constitute investment advice.

Thomas Wettermann will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.

Trading digital financial assets such as cryptocurrencies can carry a high level of risk, and may not be suitable for all investors. Before deciding to invest, purchase, and/or trade cryptocurrency you should carefully consider your investment objectives, level of experience, adversity to risk, and volatilities. You may possibly sustain a loss of some or all of your initial investment; therefore, you should not invest money you cannot afford to lose. You should be aware of all the risks associated with cryptocurrency trading, and seek advice from a qualified and independent financial advisor.

All the views expressed on this site are those of Thomas Wettermann and do not represent the opinions of any entity with which Thomas Wettermann has been, is currently, or will be affiliated.

 

Binance Transfers

With extensive experience as an electrical/software/coding engineer along with having a diverse financial background, Thomas Wettermann’s areas of interest include Machine Learning (ML), artificial intelligence (AI), and Financial Technology (FinTech). For the past few years, Thomas Wettermann has focused on the underlying technologies that support and promote all phases of cryptocurrency, Web 3.0, and metaverse ecosystems.

Binance Logo (Source: Binance Twitter)

Founded in 2017, Binance is now the world’s largest cryptocurrency exchange when one considers trading volume. Indeed, Binance’s trading volume is more than three times larger than its nearest crypto exchange competitor Coinbase Exchange.

In 2019, Binance stated that it was “unable to provide services to any U.S. person" and that it would partner with a U.S. company called Binance.US.

US-based investors trying to access the Binance.com website are now provided the following warning: “Binance is unable to provide services to U.S. users. Binance.US (BAM Trading Services) is a US-regulated cryptocurrency trading platform.”

Binance.US Logo (source: Binance.US)

Binance.US is an online service that offers US-based investors the opportunity to buy, sell, and store cryptocurrencies. In just three years, Binance.US has already become the tenth largest cryptocurrency exchange when one considers trading volume.

How to Transfer from Binance to Binance US

As noted previously, Binance is now blocking US-based investors from using Binance.com. However, Binance has launched a partner US-based platform. If you are a US-based user, you will want to transfer your assets from Binance.com to Binance.us. Provided below are instructions on how to complete this transfer.

Step 1: Visit Binance US

First, visit Binance US and click Sign Up Now button.

Binance.US Homepage (source: Binance.US)

Enter your email address and password. Then, click the Create Account button.

Step 2: Deposit Funds

After you create your account, Binance US will send you a verification email. Click the confirmation link in the email and then go ahead and log in again.

Click the Deposit link. This will start the process of moving your assets from your Binance account to your new account at Binance.US. 

Binance.US Deposit (source: Binance.US)

Step 3: Verification Step

Your identification verification is mandatory before an exchange like Binance US will allow you to deposit and withdraw funds.

Click Basic Verification to proceed. Fill out the basic verification datasheet and then click the Submit button.

Once you go through the above steps, you will finally be able to access your Binance US dashboard.

All opinions expressed on this site are owned by Thomas Wettermann and should never be considered as advice in any form. Thomas Wettermann is not an independent financial advisor.

Any opinions, news, research, analyses, prices, or other information contained on this website is provided as a general market commentary of Thomas Wettermann and does not constitute investment advice. Thomas Wettermann will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.

Trading digital financial assets such as cryptocurrencies can carry a high level of risk, and may not be suitable for all investors. Before deciding to invest, purchase, and/or trade cryptocurrency you should carefully consider your investment objectives, level of experience, adversity to risk, and volatilities. You may possibly sustain a loss of some or all of your initial investment; therefore, you should not invest money you cannot afford to lose. You should be aware of all the risks associated with cryptocurrency trading, and seek advice from a qualified and independent financial advisor.

All the views expressed on this site are those of Thomas Wettermann and do not represent the opinions of any entity with which Thomas Wettermann has been, is currently, or will be affiliated.

 

Binance Verification

With extensive experience as an electrical/software/coding engineer along with having a diverse financial background, Thomas Wettermann’s areas of interest include Machine Learning (ML), artificial intelligence (AI), and Financial Technology (FinTech). For the past few years, Thomas Wettermann has focused on the underlying technologies that support and promote all phases of cryptocurrency, Web 3.0, and metaverse ecosystems.

Binance Logo (Source: Binance Twitter)

Founded in 2017, Binance is now the world’s largest cryptocurrency exchange when one considers trading volume. Indeed, Binance’s trading volume is more than three times larger than its nearest crypto exchange competitor Coinbase Exchange.

In 2019, Binance stated that it was “unable to provide services to any U.S. person" and that it would partner with a U.S. company called Binance.US.

US-based investors trying to access the Binance.com website are now provided the following warning: “Binance is unable to provide services to U.S. users. Binance.US (BAM Trading Services) is a US-regulated cryptocurrency trading platform.”

Binance.US Logo (source: Binance.US)

Binance.US is an online service that offers US-based investors the opportunity to buy, sell, and store cryptocurrencies. In just three years, Binance.US has already become the tenth largest cryptocurrency exchange when one considers trading volume.

Where in the US is Binance Available?

As noted previously, the crypto services of Binance are not available to any US-based investor. On the other hand, Binance.US is available to US based investors but only those investors residing in certain US States. For example, Binance.US is currently not available in the following seven states: New York, Connecticut, Texas, Hawaii, Idaho, Vermont, and Louisiana.

The reason for this restricted availability has mainly to do with hostile and stifling state regulatory laws. For example, one reason crypto exchanges like Binance.US would not make their services available in a given state is that the state may have issued certain rules and regulations regarding cryptocurrencies.

New York is a primary example. New York’s crypto regulatory agency issued licensing requirements for cryptocurrency businesses called the "BitLicense." The BitLicense requires operations related to transactions involving any form of digital currency to obtain a license from the state.

However, before being granted a license, applicants must have strict compliance and supervisory policies and procedures in place, including anti-money laundering, know-your-customer, and cybersecurity programs. It is estimated that it costs roughly $100,000 to apply for such a license including time allocation, legal fees, and other related expenses.

Moreover, the license requires a 30-page application, a $5,000 application fee, thousands of man-hours, and the presentation of accounting and records from the last seven years.

Rather than jump through these types of regulatory hoops, cryptocurrency exchanges like Binance.US will seek out more crypto-friendly states like Wyoming, Nevada, and Florida.

How long does Binance Verification Take?

Binance is a centralized exchange and must therefore comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. As a Binance user, you must therefore undergo identification verification procedures.

The Binance verification process is a timed process where you are required to submit all your information within a 15-minute window after you initiate this process.

These steps are summarized below:

Step 1: Sign in to your account

Step 2: Select Intermediate/Identity verification

Step 3: Select Nationality/Country of Origin

Step 4: Fill in basic personal identification

Step 5: Select ID document

Step 6: Submit photo(s) of your documentation

Step 7: Upload self-portrait

Step 8: Complete facial verification

Step 9: Personal verification

Step 10: Address verification

This verification process usually only takes one to two days. The best way to reduce how long does Binance verification take is to make sure that all the images and pictures of your documents are clear and legible.

All opinions expressed on this site are owned by Thomas Wettermann and should never be considered as advice in any form. Thomas Wettermann is not an independent financial advisor.

Any opinions, news, research, analyses, prices, or other information contained on this website is provided as a general market commentary of Thomas Wettermann and does not constitute investment advice. Thomas Wettermann will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.

Trading digital financial assets such as cryptocurrencies can carry a high level of risk, and may not be suitable for all investors. Before deciding to invest, purchase, and/or trade cryptocurrency you should carefully consider your investment objectives, level of experience, adversity to risk, and volatilities. You may possibly sustain a loss of some or all of your initial investment; therefore, you should not invest money you cannot afford to lose. You should be aware of all the risks associated with cryptocurrency trading, and seek advice from a qualified and independent financial advisor.

All the views expressed on this site are those of Thomas Wettermann and do not represent the opinions of any entity with which Thomas Wettermann has been, is currently, or will be affiliated.