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HEALTH, WEALTH, AND HAPPINESS

June 8, 2022

"I think organized labor is a necessary part of democracy. Organized labor is the only way to have fair distribution of wealth."

- Dolores Huerta

New Investor Scorecard: With the recent instability of the stablecoin market, our analysts took a fresh look at Binance USD (BUSD), the official stablecoin of the top-rated crypto exchange Binance.

Is BUSD a stable place to store money? Paid members can click here to download our new BUSD Investor Scorecard.

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PayPal Users Can Now Transfer Crypto (PayPal): This is a big one. While the payments company has supported crypto purchases for some time, PayPal users will now be able to do much more:

• Transfer supported crypto into PayPal (BTC, ETH, BCH, LTC);
• Move crypto from PayPal to external crypto addresses (including Web3 wallets like MetaMask);
• Send crypto to other PayPal users, with no fees or network charges.

This cements PayPal as one of the leading fiat-to-crypto gateways, making it incredibly easy to buy the top tokens, then transfer them to family, friends, or DeFi apps.

Once again: crypto transfers between PayPal users can be made without fees. This will be an incredible competitive advantage during times of network congestion on Ethereum, as users can bypass gas fees entirely.

Not only is PayPal eating into the business of big banks, but this move will eat market share from crypto exchanges like Coinbase (which also offers fee-free exchanges between users, but PayPal accounts are far more common than Coinbase accounts).

Investor takeaway: Like many tech stocks, PayPal stock is well off its all-time highs. If you believe that crypto is the future of payments, PayPal could be one of the great stock bargains of the year (see below).

Compared with just a year ago, PYPL stock is on sale at deep discounts:

Investor takeaway: From a high of $308.53 last July, PYPL is now selling for $87.54. You can see the stock forecast and price target here; as always, do your own research before investing.

Where else is bitcoin or crypto tax-free?

Other places in the world are known as "tax havens" for crypto, either with certain loopholes or different ways of collecting taxes, such as through a sales tax instead of an income tax.

According to Koinly, here are a few crypto tax-friendly locales:

• Belarus
• El Salvador
• Portugal
• Singapore
• Malaysia
• Malta
• Cayman Islands
• Puerto Rico 
• Switzerland

That's nice and fine, but what if I am not going to move around the world? Glad you asked. Here is my favorite way to save on taxes with bitcoin. 

Bitcoin meets the individual retirement account

This is my favorite and most boring tip.

One of the most common ways to save for retirement in the US is through an IRA. Similar plans exist in Canada, Australia, the UK and other countries. 

There are two basic types and both require following specific regulations:

Traditional IRA: The money you deposit is tax-free. You are taxed on the gains when it is paid out in retirement.

Roth IRA: You pay taxes on the money you deposit. Gains are tax-free upon withdrawal. 

Tens of millions of Americans avail themselves of this. Now there are bitcoin and crypto-related custodians that allow people to deposit crypto into their IRAs. 

I personally use one, the Choice App, which allows you to contribute to your retirement account and buy and trade bitcoin as well as 25 other cryptocurrencies. As a note, I am not being paid to say this - I am a happy customer!

Another well-known service is Bitcoin IRA. They state on their website that they offer this service for 60+ cryptocurrencies. Per the data I was able to pull from Google, they are the oldest crypto IRA service on the market.

iTrust Capital is another service. They boast over 150,000 accounts created.

Other similar services may exist in other countries as well.

If you plan to hold bitcoin and Eth for the next 10-20 years (I do), it's almost foolish not to look into this.

Sincerely, 

Alexandre Lores

Opportunity Analyst

Bitcoin Market Journal is a daily newsletter that makes you a better crypto investor. It is created by Evamarie Augustine, Charles Bovaird, Mati Greenspan, John Hargrave, and Alexandre Lores.

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