I see different Grin price in coingecko, coinbase and coinmarketcap. Which one is the right one and why?
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It depends on the definition.
I would say a price is right, if you really can buy or sell for it, in the amount that you want. It is possible that different prices at the same time are right.
I would forget about the price on coinbase, because they don’t even tell the source of that number.
Coingecko and coinmarketcap show you prices of transactions that already happened. But they have a list with last prices of different exchanges. For grin the liquidity is often very low. So it is usual that prices differ. If an exchange has very different prices than an other, that may be an indicator that arbitrage is not possible. For example because deposit or withdraw actually don’t work. I would recommend https://tradeogre.com/exchange/BTC-GRIN
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The one is right which you can deposit- sell or buy- withdraw. So the real price is gate and tradeogre.com effectively.
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Generally I use tradeogre so I buy Grin in tradeogre price but I just wondered that there is a big price difference. Thank you for the information
So KuCoin has effectively shut down Grin trading on their platform, thus freezing their price.
What is the status of Grin trading on other platforms? (Gate.io & TradeOgre). I’m researching what is the most secure way to purchase Grin using dollars
I believe after 2023/01/01 all transactions over $600 need to be reported to the IRS (down from $10,000), and platforms like CoinBase is complying
Gate has actual Grin but their deposit/withdrawal system is outdated. Tradeogre is best.
Tradeogre.com is easier to transact with slatepack altough gate.io has higher liqudity with bots.
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I think coinbase would send tax info. regardless of the $20,000 thing (now $600).
The $600 mostly applies to Paypal/Venmo/etc. apps from the selling side. Lol I’ve already went way past $600 on Paypal sales… rip. Doubt the Republicans will do anything about it besides make a bunch of noise while secretly supporting it.
There is a small loophole where you can use Zelle transfers for selling through your bank. No automatic reporting. That will probably get hit in 2024 though.
And you have Crypto which will probably get more usage thanks to this law. The only bad thing about crypto is there is no dispute resolution system in place. With Paypal there is a strong level of buyer protection for goods&service sales, with crypto the buyer has zero protection. Maybe someone will do something about that
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This is no loophole. This is intentional maneuvering by feds to herd people back into the traditional banking system (Zelle is just a bank run wire service).
Maybe so, just saying for small “cash-like” business transactions, the seller can use Zelle and not trigger any automatic 1099s after $600 of use… for now.
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