Yes, the calculation you've got is correct. If you're satisfied with that return for that token, then you let it stake there and just take your profits afterward. But, the thing in staking is despite the percentage for your return, the value of that token might go lower or higher. So that's the pros and cons that you have to take before doing it, lucky if the value goes higher.

On mycointainer.com, they've got a few assets that are higher than 18%. And for other platforms, like pancakeswap, they've got assets for staking that are actually more than 18% APY and can reach more than 100+%.

I am quite surprised that you started just in February and you did not panic or sell when the plunge/crash began, it is a very good choice, but not one that newcomer investors take quite often, many newbie investors are into the get rich quick reverie, and thus they can't handle a plunge/correction phase, either they sell or they fall seriously sick over the dump. It is pretty much good you did not of that, considering the fact you have also invested a large sum of money, at least to me. Bear periods are pretty much a favorable time to accumulate more Bitcoins, but sadly quite a lot of people are always too scared to capitalize on the opportunity.

You could download and install Ledger Live, so it is read to go once your hardware wallet arrives: https://www.ledger.com/ledger-live

If it is a token, then you'll need the app of the coin it is based on (so ERC20 tokens will use the Ethereum app). Coins like Bitcoin will have their own app.

You can type each one in here, and then click on "More details": https://www.ledger.com/supported-crypto-assets

Be very careful following YouTube tutorials. I'm sure many of them will be just fine, but there will certainly be a few malicious ones thrown in which encourage you to enter your seed phrase on a fake website or something similar. It is fairly trivial for scammers to generate thousands of fake views and fake comments on their videos to make them look legit.

Make sure that everything you do is part of the guide I linked above, make sure you only download software form the official Ledger website, don't enter your seed phrase anywhere except on the hardware device itself, and don't follow any links in YouTube video descriptions.

the locked period is not the only thing you have to consider there are other things for example the 3rd party where you stake the coin is hacked then you will also lose your coins, why force yourself to stake the coin keeping it private is much safer where you have it control

Yes.

Once you have your device, simply follow the set up guide I linked you to before: https://support.ledger.com/hc/en-us/articles/4416927988625-Set-up-your-Ledger-Nano-S-Plus. This will involve booting the device up, setting a PIN code, writing down your seed phrase back up, and then connecting it with Ledger Live to update to the latest firmware and install the software for the coins you are interested in.

Once you've done all that, then you can open the relevant coin - bitcoin, for example - and generate a receiving address.* Head over to Coinbase, look for the option to withdraw or send bitcoin to an address, and copy in your receiving address from your Ledger (double check everything, especially that you have copy/pasted the address accurately!) This will send your bitcoin from the exchange across to your hardware wallet.

The very first time you do this, lots of people like to send a small "test" transaction of a few bucks worth of bitcoin to make sure they have done everything properly before sending across their full balance.

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*At this point, some people like to reset their device to factory settings, and then recover from their seed phrase back up they've just created, and ensure they generate the exact same address. This allows you to be doubly sure that you correctly copied the seed phrase without making any mistakes.

Since you couldn't find those altcoin on Coinbase (which has wide selection of those) I guess that your plan is to buy some utter shitcoins. Do yourself a favor and stick to BTC during bear market.


+1

This is a common newbie misconception, thinking that just because some altcoin went down 90% it makes it a good buy opportunity, not realizing that very same altcoin can (and most probably will) go down 99% more while majority won't even survive the bear market. That recent LUNA fiasco was a perfect example of that, and caused many people losing shit load of money.

Let me first congratulate you for investing on bitcoin instead of other cryptocurrencies that have higher risk than you could think of, should in case you're not told, bitcoin is the only digital cryptocurrency that deserves an investment with but that does not mean that there's no risk at all in doing so, it is a volatile currency that can move up or down in price, and how you study and understand the timing to when to enter the market, buy, sell or hold determines your chances of high profitability you stand to derive and this is only the digital currency whose reputation has a great value over time for an investment against other cryptos.


This time is an opportunity to add up to your experience in learning to know when to sell and hold, you have to understand the bullrun and bearish implication considering the history of the past events along with it, definitely bitcoin will rise and you will have the better opportunity to make profit when that time comes, i hope you had enough patience to hold till then.

It's difficult to explain but I'll try to make it simple using some assumptions.

Let me first correct my previous answer. It's not just based on the your taxable income for the year but also on the taxable gains you made from selling other assets.

taxable income comes from your salaries less deductions
taxable gains comes from profit selling cryptocurrencies less deductions

Aside from crypto investing, let's assume you also have a job and your taxable income is £30,000.

Using your first example of selling at a £40,000 profit. That will be your taxable gains assuming you have no deductible losses.

To determine what income band you belong, taxable income + taxable gains - capital gains allowance
£30,000 + £40,000 - £12,300 = £57,700. This is above £50,270 which means the rate applicable to your capital gains is 20%.

Capital Gains Tax:
£40,000 - £12,300 = £27,700
£27,700 * 20% = £5,540

Once again, I suggest that you consult an accountant. Taxation can be complicated and you could miss other details that affects the computation. Even my example could be inaccurate.