Abhinav Soomaney’s newest book “CRYPTOCURRENCY IN A NUTSHELL: Unlocking the Decentralized” pretty much sums up all that you need to know about cryptocurrency. It’s recent and highly successful worldwide release has given people a very clear understanding of just what cryptocurrency is, how it works and why millions of people are investing in it. Abhinav Soomaney takes the mystery out or this innovative and commonly misunderstood currency and points out all its aspects in easy to grasp, down to earth explanations.
He tells us about blockchains and how they act as decentralized ledgers for all cryptocurrency transactions without the need for a central authority like a bank. He goes on to clarify that blockchains are the electronic keepers of cryptocurrency information in digital format and how they play a crucial role in controlling the security and also the maintenance of records of all cryptocurrency transactions.
“CRYPTOCURRENCY IN A NUTSHELL: Unlocking the Decentralized” effortlessly gives its readers a complete overview of the types of crypto wallets, factors that can affect cryptocurrency values, comparisons between the stock market and cryptocurrency market and how to safeguard your crypto investments. Abhinav also gives answers to questions such as, what about taxation on cryptocurrency and what is the difference between tokens and coins?
What about stake rewards versus bank interest rates? What is the taxation on staking rewards? How do people make investing tax efficient? What about NFTs why are they now being accepted around the world? How are crypto credit cards different from traditional credit cards? What is the importance of the white paper? What should we know about p2p trading? What do you need to know about crypto and illicit activities? What about coin company failures? All these questions and many, many more are answered in Abhinav’s splendid and well written book.
Mr. Soomaney CFI, MBA, MCOM, BMS has over five year’s experience in helping investors understand and invest wisely in cryptocurrency along with assisting them with tax calculations and investing management. he is the Co-Chief Financial Officer at Crypto Bank and manages the Accounting and Tax aspects of the company.
He is the managing partner at crypto tax international which is a multinational, India’s first crypto tax consultancy firm having its footprints in Dubai and USA. He works on an international and local level in the fields of finance and accounting, and he is the Co-Chief Financial Officer at Crypto Bank and manages the Accounting and Tax aspects of the company.
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