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I built a way to enable users to index the cryptocurrency market via exchange APIs and have been operating it for about 3 years now. We've done about 100M in t
by anthonyhodlbot 6y ago
I built a way to enable users to index the cryptocurrency market via exchange APIs and have been operating it for about 3 years now.
We've done about 100M in transactions. Some of the indices we built were a top 20 by market cap (10% cap), top 30 by squared root market cap.
If you guys want to check it out: https://www.hodlbot.io https://www.hodlbot.io
- safog 6y agoHey - this looks great. Couple of questions: - Does re-balancing create a taxable event? If so, given a bunch of these cryptos trade in BTC pairs, do you generate all the documents necessary to file taxes? - What do you feel about the top 10 currencies changing so rapidly over time? I think every month (or maybe two) the top 10 list significantly changes. Doesn't that accumulate a lot of trading activity and fees? Given the volatility, is there any point to holding the top 10 instead of just holding solid / consistent cryptos like BTC and ETH?
- gruez 6y ago>Does re-balancing create a taxable event? if the rebalancing involves selling something, then yes you have to pay capital gains on it. The only way to avoid this is wrapping your trading activity in a ETF.