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Over the last five years, South Africa has emerged as one of the world’s most notable cryptocurrency adopters, and an estimated 13% of its internet users owning or using cryptocurrencies. With the South African Bitcoin/ZAR weekly trading volume – to name just one – currently standing close to R30million, there are various manners in which the South African Revenue Service (SARS) can track the gains made by South African taxpayers who trade cryptocurrencies. This is according to Wiehann Olivier, Partner at the Audit Division of Mazars in South Africa, who says that there are various techniques SARS could apply for the direct taxing of cryptocurrencies. “To start, the fact that cryptocurrencies were created to allow for anonymous, frictionless and trusted peer-to-peer transaction to be condu...
Sourced from Hacker Noon. The COVID-19 pandemic has brought the global economy to a standstill and put millions of people under financial stress. Understandably, people from all walks of life started looking for alternative income streams. Not only are these side jobs providing women with additional income, but they are also giving individuals an opportunity to develop new skills in the bitcoin and blockchain space. Blockchain skills are in high demand internationally and may unlock new career opportunities or set the ground for running a successful business in the future. Beyond speculative activities, bitcoin already drives a whole range of entrepreneurial ventures including arbitrage, remittance, e-commerce and educational projects, to name a few. /* custom css */ .tdi_3_b38.td-a-...
Cryptocurrencies are garnering interest across the globe, and have been for the last decade, but it is in Africa in which many are starting to think that these new digital currencies will take off with vigour. The reason for this could well be that Africa finds itself in a rather unique monetary situation, along with an equally unique technological one. Mobile and crypto, the perfect combination Whereas in Europe and North America Internet connectivity took off mainly through fixed-line broadband, Africa has been at the forefront of truly mobile-first Internet infrastructure. While cities are indeed rolling out fixed-line broadband, the vast majority of Africans get online through their data connection solely on their mobile phone. This has lead to a situation where 5G is expected to...