Binance Square
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Poda
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#AntiFraudChallenge

#AntiFraudChallenge

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Binance Square Official
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Tip $10 to get 1 BTC? That's a scam alert!⚠️

Recently, some users have claimed they’ll give something in return when users transfer a certain amount. To promote further education about scams, how to identify and prevent fraud, and protect your wealth, we have launched the Anti-Fraud Challenge. Answer the three questions below correctly and stand a chance of winning rewards.

Question 1: Is "pay now, profit later" scheme highly risky?
Question 2: Is "follow or tip first" a reasonable request?
Question 3: Does Binance Square support any requests for transfers?

For more information, please refer to the Binance Square Community Management Guidelines . #AntiFraudChallenge
Disclaimer: Includes thrid-party opinions. No financial advice. May include sponsored content. See T&Cs.
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Bitcoin ETFs and direct Bitcoin purchases: Bitcoin ETFs: Pros: Tax Efficiency: ETFs can be held in tax-sheltered accounts like TFSAs, potentially saving on capital gains taxes. Convenience: Trades on traditional exchanges like stocks, simplifying the investment process. Security: Investors don’t need to worry about the safekeeping of Bitcoin, as the ETF provider manages it. Cons: Management Fees: Some Bitcoin ETFs charge management fees, which can reduce returns. No Direct Ownership: Investors do not own the actual Bitcoin, only shares in the ETF. Price Discrepancy: There might be a difference between the ETF’s price and the actual Bitcoin price. Direct Bitcoin Purchases: Pros: True Ownership: Direct buyers own the actual Bitcoin, giving them full control over their assets. Use as Currency: Bitcoin can be used for purchases where accepted, even as legal tender in some places. No Management Fees: There are no ongoing fees associated with direct ownership. Cons: Security Risks: Owners are responsible for the security of their Bitcoin, which can be complex. Tax Implications: Direct ownership may lead to higher capital gains taxes when held outside of tax-sheltered accounts. Complexity: Buying, storing, and using Bitcoin directly can be more complex than purchasing an ETF. For new users, the choice between Bitcoin ETFs and direct purchases depends on their comfort with technology, desire for direct asset control, and tax considerations. ETFs offer ease and tax efficiency, while direct purchases offer control and utility as a currency. It’s essential to weigh these factors based on individual investment goals and risk tolerance. 🚀 #ETFvsBTC $BTC
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