Small adjustments
This commit is contained in:
parent
1d53bba033
commit
a03e82f880
|
@ -16,10 +16,12 @@ Make sure you read up on [the tax effects of
|
||||||
cryptocurrencies](https://skat.dk/borger/aktier-og-andre-vaerdipapirer/skat-paa-krypto-kend-reglerne-saa-du-undgaar-et-skattesmaek)
|
cryptocurrencies](https://skat.dk/borger/aktier-og-andre-vaerdipapirer/skat-paa-krypto-kend-reglerne-saa-du-undgaar-et-skattesmaek)
|
||||||
yourself.
|
yourself.
|
||||||
|
|
||||||
|
This article is written by me personally, and is not authored or authorized by Partisia or Partisia Blockchain Foundation.
|
||||||
|
|
||||||
## Overview
|
## Overview
|
||||||
|
|
||||||
Assuming a scenario where you want to sell your MPC tokens ASAP for money
|
Assuming a scenario where you want to sell your MPC tokens ASAP for fiat
|
||||||
in the bank, you are probably looking on a flow of:
|
currency in the bank, you are probably looking on a flow of:
|
||||||
|
|
||||||
1. MPC Tokens are moved to your MPC account.
|
1. MPC Tokens are moved to your MPC account.
|
||||||
2. Transfer MPC tokens to Exchange A (Kucoin or gate.io)
|
2. Transfer MPC tokens to Exchange A (Kucoin or gate.io)
|
||||||
|
@ -29,17 +31,18 @@ in the bank, you are probably looking on a flow of:
|
||||||
6. Withdraw fiat to bank account.
|
6. Withdraw fiat to bank account.
|
||||||
|
|
||||||
Most steps above occur within exchanges and financial institutes, but step
|
Most steps above occur within exchanges and financial institutes, but step
|
||||||
2 happens directly on Partisia Blockchain, which requires BYOC
|
2 happens directly on Partisia Blockchain, which requires [BYOC
|
||||||
(Bring-Your-Own-Coin) for transferring MPC tokens. There exists several BYOC,
|
(Bring-Your-Own-Coin)](https://partisiablockchain.gitlab.io/documentation/pbc-fundamentals/byoc/introduction-to-byoc.html) for transferring MPC tokens. There exists several BYOC,
|
||||||
all of which must be transferred from another blockchain, with the easiest to
|
all of which must be transferred from another blockchain, with the easiest to
|
||||||
acquire being MATIC, the native coin of Polygon Proof-of-Stake. I recommend
|
acquire being [MATIC](https://coinmarketcap.com/currencies/polygon/), the native coin of Polygon Proof-of-Stake. I recommend
|
||||||
buying enough to cover your entire token grant period:
|
buying enough to cover your entire token grant period:
|
||||||
|
|
||||||
1. Buy BYOC through exchange or payments processor. Around 40-50 USD worth
|
1. Buy [BYOC](https://partisiablockchain.gitlab.io/documentation/pbc-fundamentals/byoc/introduction-to-byoc.html) through exchange or payments processor. Around 40-50 USD worth
|
||||||
should be enough for the entire period.
|
should be enough for the entire period.
|
||||||
2. Transfer to MetaMask-accessible account.
|
2. Transfer to [MetaMask](https://metamask.io/)-accessible account. This can
|
||||||
3. Deposit into your MPC account using the Browser's built-in BYOC bridging
|
be either a Ledger Hardware Wallet account visible to [MetaMask](https://metamask.io/), or a [MetaMask](https://metamask.io/)-native account (though I do not recommend the last option, see next section.)
|
||||||
page.
|
3. Deposit into your MPC account using the [Browser's built-in BYOC bridging
|
||||||
|
page](https://browser.partisiablockchain.com/assets?tab=coins).
|
||||||
|
|
||||||
## Setting up accounts
|
## Setting up accounts
|
||||||
|
|
||||||
|
@ -54,7 +57,7 @@ There are three primary ways for setting up accounts:
|
||||||
3. Using a private key. Not easy, but can be made somewhat secure.
|
3. Using a private key. Not easy, but can be made somewhat secure.
|
||||||
|
|
||||||
These accounts will be used for receiving MPC tokens, transferring them, and
|
These accounts will be used for receiving MPC tokens, transferring them, and
|
||||||
acquiring BYOC.
|
acquiring [BYOC](https://partisiablockchain.gitlab.io/documentation/pbc-fundamentals/byoc/introduction-to-byoc.html).
|
||||||
|
|
||||||
I will only be covering Ledger, as that is what I will be using.
|
I will only be covering Ledger, as that is what I will be using.
|
||||||
|
|
||||||
|
@ -72,8 +75,7 @@ Setup guide:
|
||||||
4. Install [MetaMask for Chrome](https://metamask.io/).
|
4. Install [MetaMask for Chrome](https://metamask.io/).
|
||||||
5. [Connect MetaMask to your Ledger](https://support.ledger.com/hc/en-us/articles/4404366864657-Connect-your-Ledger-to-MetaMask?docs=true).
|
5. [Connect MetaMask to your Ledger](https://support.ledger.com/hc/en-us/articles/4404366864657-Connect-your-Ledger-to-MetaMask?docs=true).
|
||||||
|
|
||||||
You are now ready for using your Ledger Hardware Wallet for acquiring BYOC and
|
You are now ready for using your Ledger Hardware Wallet for acquiring [BYOC](https://partisiablockchain.gitlab.io/documentation/pbc-fundamentals/byoc/introduction-to-byoc.html) and for transferring MPC Tokens.
|
||||||
for transferring MPC Tokens.
|
|
||||||
|
|
||||||
## Selecting exchanges
|
## Selecting exchanges
|
||||||
|
|
||||||
|
@ -172,6 +174,8 @@ Contrast with a theoretic value of `10000 MPC * (0.4 USDT/MPC) * (0.91 USDT/€)
|
||||||
|
|
||||||
## Discussion: Letting it ride
|
## Discussion: Letting it ride
|
||||||
|
|
||||||
|
This section assumes the second tax interpretation above, and makes the case that you should prioritize your personal financial situation over HODLing.
|
||||||
|
|
||||||
It might be tempting to letting your MPC possessions "ride", e.g. paying off
|
It might be tempting to letting your MPC possessions "ride", e.g. paying off
|
||||||
your tax burden by selling half, and keeping the rest in MPC. While this is
|
your tax burden by selling half, and keeping the rest in MPC. While this is
|
||||||
definitely a possibility, you should not be blinded by greed or by emotional
|
definitely a possibility, you should not be blinded by greed or by emotional
|
||||||
|
@ -185,12 +189,14 @@ and you should consider the consequences of this.
|
||||||
3. If you have already decided to invest, consider that there might be other
|
3. If you have already decided to invest, consider that there might be other
|
||||||
investments which have better characteristics. Crypto investment can be
|
investments which have better characteristics. Crypto investment can be
|
||||||
rough.
|
rough.
|
||||||
4. From a [diversification point of view](https://en.wikipedia.org/wiki/Diversification_(finance))
|
4. Consider this scenario: Instead of getting MPC tokens, you got the
|
||||||
|
equivalent amount in fiat currency. Would you in that case choose to invest in MPC tokens?
|
||||||
|
5. From a [diversification point of view](https://en.wikipedia.org/wiki/Diversification_(finance))
|
||||||
consider that you are possibly possessing an incredibly lopsided portfolio,
|
consider that you are possibly possessing an incredibly lopsided portfolio,
|
||||||
due to the MPC grant.
|
due to the MPC grant.
|
||||||
5. Also regarding diversification: You are already heavily invested in the
|
6. Also regarding diversification: You are already heavily invested in the
|
||||||
well-being of Partisia and Partisia Blockchain, due to working there.
|
well-being of Partisia and Partisia Blockchain, due to working there.
|
||||||
The price of MPC and the financial situation of Partisia will most likely
|
The price of MPC and the financial situation of Partisia is likely to
|
||||||
correlate.
|
correlate.
|
||||||
|
|
||||||
|
|
||||||
|
|
Loading…
Reference in New Issue
Block a user