RE: MONACO BULLISH TREND CONTINUES!! Are we headed for $50 ?
Anyone into crypto in the first place wants to bypass the bank when spending their money to avoid all kinds of complications with tax etc...
I don't know about other countries, but here in Ireland the government claim 33% in tax of deposits over €3000, which is a shit ton.
One of these crypto cards is gonna take off like crazy, and after following the markets for weeks & carefully reading whitepapers etc, at the moment it looks like Monaco is the winner. Following the slack group, I found out they have already signed an agreement with Visa but it has not yet been officially announced which is why the logo is not on their website yet.
The reason for the rise right now is the official app being released this Thursday. We'll see how this plays out🙈
Wow! That's great news on the app and Visa agreement.
And yes, 33% is rough. Is that only taxed when you turn it back into fit?
I think I'm going to continue to hold MCO with all these updates coming.
Yes, exactly. Once a deposit to an Irish bank account is over 3k, the revenue office get notified & claim the 33%. Rough enough! & yeah, same here. I'd suggest at least holding till the 31st, and see where it takes you then.