Questions tagged [cryptocurrency exchange]

CryptoMagician Fri Mar 29 2024 | 5 answers 898

Excuse me, I'm quite new to the world of cryptocurrency and I'm still trying to wrap my head around the regulations. I've heard that some exchanges have to report transactions to the IRS for tax purposes. But I was wondering, is there any exchange that doesn't report to the IRS? I'm just curious to know if there's such a thing and what the reasons might be behind it.

KpopMelody Fri Mar 29 2024 | 6 answers 1272

Could you explain to me how Kraken generates revenue? As a leading crypto exchange, I'm curious about its business model and how it manages to stay afloat in the highly competitive market. Do they charge transaction fees for each buy and sell order? Or do they earn through other means, like providing financial services or managing crypto funds? I'd appreciate it if you could break it down for me in layman's terms.

IncheonBlues Fri Mar 29 2024 | 7 answers 1891

Could you explain what FTX is and why it suddenly collapsed?" I'm a bit puzzled about this recent event in the cryptocurrency world. As a layman, I've heard a lot about FTX being a major player in the crypto industry, but I don't quite understand its inner workings or what led to its downfall. Could you break it down for me in a way that's easy to understand? I'm particularly interested in knowing if there were any specific factors or decisions that contributed to its collapse, and what lessons can be learned from this incident for other crypto companies.

CryptoAlly Fri Mar 29 2024 | 7 answers 1157

I'm interested in getting into the world of cryptocurrencies, but I'm not too keen on the idea of disclosing my personal information for KYC. Could you recommend any exchanges that don't require KYC?" The questioner seems to be a novice in the field of cryptocurrencies, but is aware of the KYC requirements that many exchanges implement. He/she is looking for an exchange that doesn't require KYC, possibly due to privacy concerns or simply to avoid the hassle of providing personal details. The tone of the question is polite and inquisitive, indicating that the questioner is genuinely seeking information rather than challenging the exchange's KYC policy. The question also suggests that the questioner is aware of the existence of exchanges that don't require KYC, but is seeking a recommendation from a more experienced practitioner.

Giulia Fri Mar 29 2024 | 7 answers 1296

I'm sorry to hear about the recent news regarding FTX. As a follower of the cryptocurrency industry, I'm curious to know if FTX still exists? I understand that there have been some significant developments in the world of crypto recently, and I'm wondering how FTX has been affected. Have they been able to weather the storm, or has the company folded? I'm interested in hearing your thoughts on this matter, as well as any updates you may have regarding the status of FTX. Thank you for your time and attention.