Name: Why is the IRS eyeing your digital wallet?
Uploaded: 2025-02-14T05:00:00+00:00
Duration: 43 min 19 s
Description: What does the Bible say about managing modern investments like cryptocurrency? In this episode of the Ask Ralph Show, Ralph breaks down the basics of cryptocurrency, explaining how it works and why th

10 months ago

Podcasts Faith and Religion

What does the Bible say about managing modern investments like cryptocurrency? In this episode of the Ask Ralph Show, Ralph breaks down the basics of cryptocurrency, explaining how it works and why the IRS is paying attention. He talks about Bitcoin mining, blockchain technology, and the tax rules for treating crypto as property. Ralph also highlights the risks—like scams, price swings, and security issues—and shares practical tips to stay safe. Grounded in biblical stewardship, this episode encourages listeners to handle these new investments wisely while staying true to Christian values. With the IRS eyeing your digital wallet, Ralph offers resources and professional advice to help you navigate this complex landscape responsibly.

Read today’s blog article: https://www.askralphpodcast.com/blog/is-your-digital-wallet-safe-from-the-irs/

https://www.askralphpodcast.com/IRS-eyeing-your-digital-wallet/

Podcast Timestamps:
00:00 Episode Overview
01:47 Listener Question: Understanding Cryptocurrency
03:21 Biblical Perspective on Financial Stewardship
04:31 Today’s Gratitude Statement
05:00 Basics of Cryptocurrency and Digital Wallets
07:43 Cryptocurrency Mining Explained
16:59 Where is Cryptocurrency Being Used?
17:47 Tax Implications of Cryptocurrency
18:35 Tim's Cryptocurrency Loss
23:48 Why is the IRS Interested in Digital Wallets?
24:54 Types of Digital Wallets and Their Security Features
27:24 Dangers of Cryptocurrency
33:28 Reducing Cryptocurrency Risks
34:50 Practical Steps to Manage Cryptocurrency and Avoid Tax Issues
37:55 Visit https://www.askralphpodcast.com/blog/ for Free Financial Resources
38:22 Reflection Questions
40:16 You Can Support the Show by Visiting https://askralphpodcast.com/support
41:33 Conclusion and Next Episode Preview