Question 1

Can I operate with coin XYZ?

Accepted Answer

We only support crypto-assets that have demonstrated substantial trading volumes over an extended period. Additionally, to ensure operational continuity, we only select coins listed on multiple exchanges. If you're interested in a particular coin and the amount you wish to trade is significant, please contact our support team (either via email at support@checksig.com or WhatsApp WhatsApp): we'll do our best to accommodate your request.

Question 2

What percentage should I invest in crypto?

Accepted Answer

It's hard to say, also because we don't provide financial advice. The CFA Research Institute Foundation (the research foundation of certified financial analysts) suggests 2.5% in Bitcoin, recognizing that the diversification benefit is extremely important: adding Bitcoin to any portfolio raises the expected return for the same level of risk, and lowers the risk for the same expected return. Of course, 2.5% is purely indicative: it makes clear that staying at zero percent is unreasonable from a diversification standpoint; the appropriate level depends on time horizon, risk appetite and absolute size of assets.

Question 3

Which crypto-assets should I invest in?

Accepted Answer

It's hard to give advice and we don't provide financial advice. Bitcoin (BTC) is certainly the most important crypto: described as the digital equivalent of gold even by Jerome Powell (chairman of the Federal Reserve), it has won the race as a scarce digital asset. It is also quantitatively the most important crypto by market capitalization, trading volumes, derivatives market relevance and ETF assets under management. By these quantitative criteria, Ethereum and Solana follow Bitcoin. These are platforms that, in addition to their native crypto (ETH and SOL respectively), enable the creation of other digital assets, tradable automatically via smart contracts: this realizes the delivery vs settlement paradigm, meaning that delivery of the asset occurs only simultaneously with its payment and payment only simultaneously with delivery of the asset. CheckSig offers the possibility to invest in all crypto with significant trading volumes, while recognizing that they may have speculative value but their reliability degrades quickly. Of course, the vast majority of the tens of thousands of existing crypto is just crypto-junk 🙂.

Question 4

Can I set up an accumulation plan?

Accepted Answer

Absolutely! An accumulation plan is a smart strategy to minimize the risks of market timing and mitigate volatility. Many investors underestimate its power in long-term saving and investment strategies. To set up an accumulation plan, in the CheckSig app, select Buy, Recurring as order type, and choose the frequency. And if you're living off your crypto holdings, you can also set up a decumulation plan to sell crypto and withdraw EUR/USD funds systematically!

Question 5

How are profits and losses calculated?

Accepted Answer

As required by Italian regulations applicable to intermediaries, the tax cost basis is determined according to the average purchase cost method. If you are tax resident in Italy and have opted for the administered tax regime, this tax cost basis is used by CheckSig, in its role as withholding tax agent, to calculate taxable capital gains and losses. On realized capital gains, CheckSig applies and withholds the substitute tax, taking into account any capital losses accumulated over the previous four years for offsetting purposes.

Question 6

What tax cost basis applies to crypto-assets purchased through other providers and subsequently deposited with CheckSig?

Accepted Answer

For crypto-assets purchased through other providers and subsequently deposited with CheckSig, the purchase cost is assumed to be zero, unless you provide complete, verifiable, and consistent documentation regarding the acquisition date, purchase price, and the trading venue used. Any documentation received will be verified against historical market data; where necessary, additional supporting documents may be requested. With respect to the adequacy of the documentation provided, CheckSig's assessment is final and not subject to challenge. For complex portfolio situations in which CheckSig considers the documentation to be insufficient or problematic, you may request from the Digital Gold Institute the Crypto Portfolio Report.

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Buy and sell crypto the right way.

Trade all major crypto-assets.

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