Forex reserves as of September 2024

1. China - $ 3288 billion
2. Japan - $ 1236 billion
3. Swiss - $ 802 billion
4. India - $ 705 billion
5. Russia - $ 625 billion

#india #china

Recently, the Reserve Bank of India (RBI) has taken action against Paytm Payments Bank, owned by One 97 Communications. The RBI has put sanctions on the bank due to regulatory worries. This crackdown might also impact India's crypto market, as Paytm is widely used for buying cryptocurrencies.

Although Paytm doesn't let you invest directly in crypto, you can still use it to pay on approved crypto exchanges in India. But the recent crackdown on Paytm Payments Bank might make buying crypto harder. After February 29, people won't be able to add money to their bank accounts, so they'll have to rely on whatever balance they have if they want to invest in crypto.

Crypto users may need to look into alternative banking services to overcome the deposit limits at Paytm Bank. Additionally, they'll need to think about factors like whether the bank works well with their chosen crypto exchanges, how dependable it is, and any fees involved. This could be challenging for those who have been using Paytm Payments Bank for their crypto dealings.

#TrendingTopic #Write2Earn #CryptoGuidance

that happy moment when you made your first profit 😁 (even though it is very small )

How much you made during your first trade?

#Write2Earn #BTC

There are lot of confusion around crypto currencies and tokens. Many crypto users and traders doesn't understand the basic difference. Below image try to highlight the difference between them at a high level .

#Write2Earn #BTC #ETH #CryptoGuidance

There's a new "Dry January" called the Digital Detox Program by siggi, an Icelandic yogurt company. Participants who successfully lock up their smartphones for a month can win $10,000.

are you ready to lock up your smartphone for a month?

#WRITE2EARN #Smartphone #GiveawayTime

Web3 is redefining tech industry, most of our day to day apps will be soon replaced by web3 apps.

here the list of web 2 applications with its corresponding web3 products. hope to see more get added to this list ❤️

#WRITE2EARN #Web3PlatformSuccess #MetaverseTrends

Most economists criticize crypto currencies for being volatile and instability in the price movement. here is the list of major world currencies performing against US dollar in last 10 years.

There are many currencies which last more than 50% of their value in last 10 years. imagine someone retired 10 years ago and had all of their savings in their home currencies as we most of us do the same.

#BTC #crypto #USDOLLAR #EconomicInsights #WRITE2EARN

The Reserve Bank of India is looking into making government bonds and securities into tokens. They're also checking if regular people can use their digital currency to invest in these securities. There are early discussions about turning fixed deposits in banks into tokens too. This is all part of creating a whole system for CBDC.

Top 5 countries which has zero tax on crypto trading gains

1. Singapore - Individual investors who are holding crypto as long term investing not required to pay any on their gains. Individuals who mine crypto through mining process doesn't require to pay tax if it is a hobby.

2. Hong Kong - As a prominent economic centre of Asia, Hong Kong doesn't levy any tax on long term crypto investments.

3. Germany - Investors doesn't has to pay tax on their crypto gains if the holding period is greater than one year.

4. Slovenia - As one of the early adapter of Bitcoin, Slovenia doesn't levy any tax on crypto gains through trading but people has to tax gains made through mining .

5. Switzerland - Only qualified individuals who trade Bitcoins and other crypto currencies doesn't have to pay tax in the country.

Top 5 Major economics which are very crypto friendly. The list ordered mostly based on the size of the economy and it's role in geopolitics.

Switzerland: Boasting the largest economy on the list and a well-established financial system, Switzerland is increasingly adapting to the crypto world. Its favorable capital gains tax and established legal framework attract investors.

United Arab Emirates: With Dubai emerging as a major crypto hub, the UAE's rapidly growing economy presents exciting opportunities. The government's supportive stance and innovative initiatives are fueling rapid adoption.

Singapore: This financial powerhouse with a developed regulatory framework remains a top destination for crypto businesses and exchanges. Its clear regulations and stable environment offer security for investors.

Portugal: While Portugal's economy ranks smaller than the others, its crypto-friendly tax policies and welcoming approach to digital nomads make it an attractive option for individuals and startups.

Slovenia: As a rising star in the crypto scene, Slovenia's supportive government and favorable tax regulations are attracting blockchain entrepreneurs and fostering innovation

#CryptoEconomics #Singapore #UAE