The Better Barter Club is Here

Better Barter ClubThere is no doubt, Barter Club's are fantastic when the members embrace and use the process.  The challenge then is keeping the energy high and the exchange process vital.  Barter clubs thrive on energy and commitment to the cause; but in the busy and crazy world of business chores, people begin to neglect this very good idea.

CryptoBarter Makes Cryptocurrency Real

CrytobarterBasically, cryptocurrency is a digital currency.  The is no actual coin, even though there are pictures of various types of coin.  

There is no bank that holds or transfers your cryptocurrency.  Your coins are held in a digital wallet that is locked or unlocked by a unique security code.  When you hear the word "DeFi", it means "Decentralized Finance".  More and more people love the idea of non-bank controlled finances and non-cash assets that are no subject to inflation and government intervention or policies.

Tradable Cryptocurrency is a Gamechanger

Tradable CryptocurrencyTradable cryptocurrency is not what most people think.  You see, some cryptocurrency can be exchanged with other cryptocurrency.  So, it is possible for some crypto exchanges will let you switch Bitcoin to Ethereum or Dogecoin without first existing to the dollar.  The ability to exchange cryptocurrency is nice, but how often is that needed?

Tradable cryptocurrency is a special type of currency.  Instead of a "Proof of Work" coin that is earned by participating in a mining process, or a "Proof of Stake" coin that you buy as an investment, the "Proof of Use" coin is intended to be traded as a kind of alternative currency.

The Effect of Inflation and Buying Power

The Impact of InflationA little more than a year ago, I bought a 17' Mako skiff with a 75 hp outboard for not quite $19,000.   That was a big step at the time, but something happened recently that was surprising.  I returned to the very same Bass Pro Shop for various fishing items, and decided to see what was in the boat sales area.

As you can see from the pictures, something remarkable had happened to the price of the boat.   The very same boat that I bought in mid 2020 was now $32,010 in mid 2021.  You might say that I got a pretty good deal in 2020, but that isn't quite true.  My ability to buy the bought today was greatly reduced after just one year of inflation.

How to Use Troptions

Trading TroptionsAlthough Troptions are a cryptocurrency, they were created more than fifteen years ago as a trade asset. This fact explains in part how to use Troptions. The original purpose was that Troptions were a substitute for cash and should be used as a means of exchange.  For those familiar with barter systems, Troptions are a method of exchange that is more expansive than barter points.

Troptions Hits High after High

Cryptocurrency ProfitsTroptions is unlike most cryptocurrencies because their price is based on actual trades and participation.  If the valuation of Trotions were compared to an buying in an auction or a retail store.  In an auction, the price is a matter of buyer enthusiasm and whatever the price of the top bid.  The price may not be based on the actual value but on what speculators are willing to pay.  In the end, an auction sale may come in too low or too high.  

Potential Tax Considerations for Cryptocurrency

There are some interesting tax options when it comes to various forms of cryptocurrency.  For example, while you hold a cryptocurrency, it is treated like a stock.  Regardless of gain or loss you may enjoy while owning the cryptocurrency, there are no taxes due.  However, when you liquidate an investment into cash, the gain or loss is subject to taxation.  This is true for cryptocurrency as well.  You will need to know your initial investment and the ending value which you would include in your annual tax reporting.

The Rise of Digital Currency

Digital CurrencyIn the exploding world of robotics, artificial intelligence, self-driving cars, and digital currency; this generation is awash with life-changing innovations.  It is hard to imagine an era that has experienced such changes other than by a world war.  If you think in terms of things that impacted society, the discovery of electricity, the invention of television, or landing on the moon; seem dwarfed by what is happening at lightning speed in this explosion of digital innovations.

Start a Cryptocurrency Buyer's Club in Your Community

Cryptocurrency tradingAnyone jumping into the ocean of information and innovation of cryptocurrency will be instantly over their head in information and new ideas.  The speed of cryptocurrency inventions is like drinking from a firehose.  While it is one thing to "Buy and Hold" some types of cryptocurrency, this too is a volatile coaster ride that ranges from big profits to big losses in a single day.

Lextra Rewards has brought the high technology to everyday application that is intended to (1) improve your everyday spending power, and (2) provide simple steps to master the practical uses of trade exchanges and digital currency.  There is a third element that anyone can do which is buy and hold the cryptocurrency, but that isn't nearly as much fun.