Cryptocurrency has derived its name from crypto which means encoded and secretive, however, nowadays to make an account for a regular person and trade with these currencies it takes on average a week for the website and government to verify your account so you can safely buy and sell these currencies, and the latest news that was brought to most cryptocurrencies traders' attention was the government's taxation of these currencies as, following extensive discussion and debate, the IRS (Internal Revenue Service) had declared on the start of this year that bitcoin and all other cryptocurrecnies will be treated as property, and has given taxpayers until April, 27th of this year to pay their dues in taxes.
This move had pushed many people to give up their crypto-wealth and convert it back to fiat currency as a safe move to evade such surprising taxes, and this explains the massive drop of the value of most of these currencies including Steem that has reached an all time low since last year as the supply of these currencies has overturned the demand.
So in my opinion, this is not a good time to invest in these currencies and let's hope together that a new idea will come up and will encourage us to invest and make some extra dollars on the side without having to worry about these taxes.
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