We will discuss about crypto swaps and particularly Atomic Swaps, a new way to do cryto swaps today. New developments in the atomic swap space: Early decentralized exchanges were restricted by slow adoption, limited liquidity, and a small order book size. Newer decentralized exchange platforms provide users with an exchange functionality that is on par with current centralized exchanges who are now using atomic swaps to execute trades. In its nascent stage, the atomic swap ecosystem allows traders to leverage the security, a low fee structure; whilst at the same time, benefit from the same services that centralized exchanges provide. The space for atomic swaps is increasingly becoming competitive.
The digital market is relatively new, so countries and governments are scrambling to bring in cryptocurrency taxes and rules to regulate these new currencies. If you’re not aware of these before you start trading, you may find yourself in a spot of expensive bother further down the line. Many governments are unsure of what to class cryptocurrencies as, currency or property. The U.S in 2014 introduced cryptocurrency trading rules that mean digital currencies will fall under the umbrella of property. Traders will then be classed as investors and will have to conform to complex reporting requirements. Details of which can be found by heading to the IRS notice 2014-21. On top of the possibility of complicated reporting procedures, new regulations can also impact your tax obligations. The U.S, the ‘property’ ruling means your earnings will now be deemed as capital gains tax (15%), instead of normal income tax (up to 25%). Each countries cryptocurrency tax requirements are different, and many will change as they adapt to the evolving market. Before you start trading, do your homework and find out what type of tax you’ll pay and how much.
Atomic Swaps has the potential of completely revolutionizing the money transfer system in the crypto world. To put it in simple terms, atomic swaps will enable people to directly trade with one another wallet-to-wallet. Since 2012, the concept of a trustless, peer-to-peer cryptocurrency has been a pretty hot topic. In July 2012, a developer by the name of Sergio Demian Lerner created the first draft of a trustless exchange protocol. The idea was pretty appealing, however, it wasn’t really fleshed out. See more details on Swap Crypto.
Changelly was founded in 2015 and supports over 150 cryptocurrencies, taking a 0.25% fee for all swaps. You’ll need an email address to use the service though, and Changelly reserves the right to apply AML/KYC to certain users, addresses and particular transactions, which may deter privacy absolutists. Like Changenow, Changelly enables credit card purchases of crypto thanks to a partnership with Simplex. Another very good pick is Atomiic.io.
Our service provides two exchange types: floating rate and fixed rate. You can always choose the most suitable one for you. We make the cryptocurrency exchange process simple as a daily shopping trip. All in order for you to exchange what you want, when you want and as much as you want. A user-friendly and easy-to-use platform for cryptocurrency exchanges. It works without registration and limits. Source: https://atomiic.io/.