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ECB Rates: Impact of the Cut on Markets and the Economy

ecb rates

The ECB Cuts Rates for the First Time Since 2019

The European Central Bank (ECB) announced a rate cut on Thursday, 6 June, lowering the deposit rate from 4% to 3.75%, the benchmark rate from 4.50% to 4.25%, and the marginal lending rate from 4.75% to 4.50%. This hasn’t happened since 2019.

This decision was made despite inflation forecasts being revised upwards, indicating a slow and irregular path for rate reductions.

Future Interest Rate Decisions

Christine Lagarde, President of the ECB, emphasized that future rate decisions will be made “meeting by meeting” and warned of a bumpy path ahead. She added: “Today’s rate cut reflects the confidence we have in the growth path, but to continue this process, we must wait for analyses to confirm that we are in economic recovery.”

Despite the rate cut, the ECB provided no precise guidance on future moves, stressing that inflationary pressures remain high. Updated forecasts show average inflation of 2.5% for 2024, 2.2% for 2025, and 1.9% for 2026.

Impact on the Labour Market and Economy

The ECB revised its growth forecasts for 2024 upwards, now estimated at 0.9% compared to the 0.6% predicted in March. However, prospects for 2025 were slightly reduced to 1.4%, while those for 2026 remain unchanged at 1.6%. This scenario indicates moderate economic growth in the coming years, with inflation likely to stay above the 2% target until 2025.

Lagarde indicated that wage growth, although still high, is expected to slow down during the year, helping to reduce inflationary pressures. However, rate cuts are likely to slow, with inflation remaining above the ECB’s target for most of 2025. This implies that the ECB will closely monitor various economic indicators to determine future monetary policy.

Consequences of the ECB Rate Cut

The ECB’s rate cut will have several consequences:

  • Reduction in credit costs: Households and businesses will benefit from lower interest rates on loans, thus promoting access to credit and stimulating consumption and investment.
  • Impact on savers: Lower interest rates may penalise savers, reducing returns on bank deposits and government bonds.
  • Stimulus to economic growth: Lower borrowing costs should encourage spending and investment, supporting economic growth. However, the effectiveness of this measure will also depend on global economic conditions and domestic demand.
  • Inflation and wages: The rate cut could influence inflation and wage dynamics. Although Lagarde has signalled that wage growth will slow, inflation may remain high in the short term, further complicating the ECB’s future decisions.

Market Reactions

Financial markets had anticipated the rate cut, pricing in a 25 basis point downward move. Following the rate cut announcement, eurozone government bond yields rose significantly. In particular, the 10-year German bond yield increased by nearly 8 basis points to 2.573%, while the 2-year bond yield rose by just under 6 basis points to 3.033%. Yields on Italian and Spanish 10-year government bonds also rose by 9 and 7 basis points, respectively, to 3.893% and 3.299%.

International Comparison

Despite starting to raise rates later than other central banks, the ECB is now leading with the June cut. The US Federal Reserve, for instance, is still grappling with higher inflation. Other countries like Canada, Sweden, and Switzerland have already started to reduce interest rates in the current cycle.

The ECB has clarified that future moves will depend on economic data and that there is no predetermined path for further rate cuts. With inflation still above target and moderate economic growth, the future of European monetary policy remains uncertain, requiring constant attention and careful assessment of all variables at play.

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FED: Interest Rate Predictions for the June 2024 Meeting

FED

What is the FED’s stance on cutting interest rates? Here are analysts’ predictions.

The Federal Reserve (FED) is the central bank of the United States and plays a crucial role in the global financial system. Economists, analysts, and investors worldwide closely monitor every decision it makes, especially regarding interest rates.

But what can we expect from the upcoming FED meeting scheduled for 11-12 June 2024? Analysts predict that the FED will keep interest rates unchanged, but some signals could anticipate future cuts by the end of the year.

What is the FED, and why is it important?

The Federal Reserve, or FED, is the institution that serves as the central bank of the United States. Its role is to stabilise the economy through the management of money and interest rates. Its main functions are controlling inflation, regulating the banking system, and promoting economic stability. The interest rates set by the FED influence the cost of money, i.e., how much it costs to borrow or how much you earn by saving.

The current interest rate situation

FED interest rates have been steady between 5.25% and 5.5% since July 2023. After a year of stability, the FED decided not to increase rates further despite mixed signals on inflation. According to FED Governor Christopher Waller, some inflation reports in the early months of 2024 temporarily cooled expectations of a rate cut. Still, recent consumer price index (CPI) data suggest that inflation is not accelerating.

Analysts’ predictions for the FED June meeting

According to the CME’s FedWatch Tool, the probability of a rate cut at the June meeting is just 0.1%. The forecasting site Kalshi also indicates a 99% probability that rates will remain unchanged. However, analysts predict the FED might signal potential rate cuts later in 2024. During the meeting, the “Summary of Economic Projections” will be updated, where monetary policymakers will outline their forecasts for the end of the year.

Impacts on everyday life

The FED’s decisions on interest rates have a direct impact on people’s daily lives. Higher interest rates mean more expensive loans for homes, cars, and businesses and higher returns for savers. Conversely, lower rates make loans cheaper but reduce earnings on savings. For example, 30-year mortgage rates reached an annual high of 7.79% in 2023, then fell to 7.03% by the end of May 2024.

When might a rate cut occur?

According to bond markets, the first rate cut could happen in September 2024, with a 50% probability. A second cut might follow in December. However, these predictions are subject to rapid changes in response to economic data. For example, there is still a 15% probability that there will be no cuts in 2024.

The June FED meeting is highly anticipated, but it is unlikely to bring immediate changes in interest rates. All eyes are on the updated economic projections and the statements from FED Chairman Jerome Powell. The possibility of rate cuts during 2024 will depend on the strength of the labour market and progress in controlling inflation.

The FED’s decisions will continue to have a significant impact on the global economy and the daily lives of millions of people. Monitoring these decisions helps us better understand economic dynamics and make more informed financial decisions.

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The Richest Countries in the World: The 2024 Ranking

The Richest Countries in the World: Updated Ranking

Which are the richest countries in the world? Discover the ranking.

To compile the ranking of the world’s richest countries, the GDP (Gross Domestic Product) per capita is one of the most effective and widely used parameters to measure a country’s wealth. This indicator represents the total value of goods and services produced in a country in a year, divided by the number of inhabitants. A high GDP per capita indicates greater economic productivity and a higher standard of living for the citizens of that country.

In the global economy, wealth is distributed unevenly, with some countries boasting an extremely high GDP per capita. The economies of these states are often characterised by advanced industrial sectors, strong technological innovation, and a high level of education.

But let’s get back to the central theme of this article: which are the richest countries in the world? Here is the updated ranking for 2024.

The Richest Countries in the World Ranking

Here is the ranking of countries with the highest GDP per capita in 2024, based on data from the International Monetary Fund (IMF). Some advanced economies have long been active in the cryptocurrency and blockchain technology sector. Luxembourg and Singapore, for example, are known for being innovative financial hubs that are actively exploring this world. Knowing Bitcoin and other major cryptos could be an opportunity to emerge in an increasingly digitalised global economic context.

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1. Luxembourg ($140,000)

With a GDP per capita of about $140,000, Luxembourg ranks first among the richest countries in the world. A robust financial sector and a significant and constant influx of foreign capital characterise its economy.

2. Ireland ($110,000)

Ireland is in second place, with a GDP per capita of around $110,000. Its success is largely due to the presence of the headquarters of European tech and pharmaceutical multinationals. This country has attracted many successful companies in recent years thanks to a favourable tax situation.

3. Switzerland ($106,000)

Switzerland is known for its high quality of life and the efficiency of services provided by both public entities and private companies. Additionally, the country excels in the finance and industrial sectors.

4. Norway ($96,000)

In fourth place among the richest countries in the world is Norway, primarily due to the natural resources present in the territory, particularly oil and gas. Norwegian companies are also highly developed and leading worldwide in several fields, thanks partly to the significant work done by Norwegian researchers.

5. Qatar ($90,000)

Qatar owes its wealth to its enormous oil and natural gas reserves, accounting for about 13% of the world’s reserves.

6. Singapore ($87,000)

Singapore is a global financial and commercial hub with a strong economy based on financial services, advanced technologies, and international trade. Many underestimate the impact of the city-state’s shipping industry, favoured by its geographical position at the centre of important East-West routes.

7. United States ($84,000)

The United States is seventh among the richest countries in the world, with a GDP per capita of $84,201. The US is still one of the most powerful economies in the world, driven by its enormous domestic market fueled by the largest tech, financial, and industrial companies.

Singapore and the United States are also effectively integrated into the cryptocurrency sector. To delve into this innovative finance branch, download the Young Platform app!

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8. Iceland ($80,000)

The strength of the Icelandic economy derives primarily from tourism, fishing, and renewable energy production. This state is among the best places to live, ranking high in almost all quality-of-life indices.

9. United Arab Emirates ($76,000)

The United Arab Emirates is one of the most dynamic economies in the Middle East. Its wealth comes primarily from oil but also from the significant development of tourism and the financial sector in recent years.

The ranking of the richest countries in the world provides an interesting snapshot of how global wealth is distributed. These countries boast a high GDP per capita and often offer a high quality of life, with access to advanced services, modern infrastructure, and economic opportunities.

If you want to learn more about the global economy and the factors that influence a country’s wealth, follow us for insights.

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Spot ETF on Ethereum: trading has begun

Ethereum: Spot ETFs Approved!

Trading has just started for spot ETFs on Ethereum. Discover everything about these new financial instruments in the crypto world.

Spot ETFs on Ethereum approved exactly two months ago on May 23, are finally available on the market. After more than two months of discussions between the Securities and Exchange Commission (SEC) and American investment funds, these long-awaited financial instruments are tradeable from 12:30 PM UTC. 

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What are the main predictions for capital inflows in the coming months and the price of Ethereum? Find out in the article!

The launch of Ethereum ETFs 

The approval of spot ETFs on Ethereum, which seemed quite unlikely at the beginning of the year, came on Thursday, May 23, 2024, while the SEC gave the green light for trading today, Tuesday, July 23. The investment funds issuing them are BlackRock, Fidelity, VanEck, ARK Invest, 21 Shares, Grayscale, Hashdex, and Invesco. These players, already issuers of spot ETFs on Bitcoin, can now offer their clients these brand-new financial instruments as well.

Those following the issue would have noticed the differences compared to the launch of b instruments on BTC, which were immediately available after approval. The main reason behind these differences concerns the event’s credibility. Few expected the approval of Ethereum ETFs, while Bitcoin’s approval seemed almost certain before it was officially confirmed by the SEC.

Capital inflows and price impact

After the launch of Ethereum ETFs, we can confirm that 2024 marks a new era for the cryptocurrency sector, characterised by a radical change in perception compared to past years. Additionally, the time interval between the launch of Bitcoin ETFs and ETH ETFs allows us to analyse likely future developments and make data-supported predictions.

Bitcoin ETFs have attracted about $17 billion to the market since January 10, 2024, with Bitcoin’s price increasing by over 50% since the approval day. What will happen to Ethereum?

Of course, it is difficult to imagine this level of adoption for these financial instruments on Ethereum, but it is worth noting that the crypto’s market capitalisation is about one-third of Bitcoin’s. Therefore, the ETFs may significantly impact the price even if the inflows are lower.

In this regard, Crypto.com expressed its views in a report published a few days ago. The Exchange believes that if the performances of these two ETFs are similar, Ether could reach the $6,000 level within 60 days of trading.

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And the capital inflows? Various predictions have been made on this aspect. For example, Standard Chartered, one of the leading banks in the United Kingdom, predicts that Ethereum ETFs will record inflows between 52% and 155% compared to Bitcoin ETFs. Conversely, analysts from Bloomberg and JP Morgan are a bit more pessimistic, expecting inflows of 20%- 25% and 7%- 21%, respectively, compared to BTC ETFs.

Finally, suppose these reflect the difference in market capitalisation between the two cryptos. In that case, we will see inflows at a ratio of 1 to 3, meaning about $6 billion could flow into Ethereum over the next seven months.

Bitwise donates part of profits to Ethereum developers

We conclude this article with an interesting fact about Ethereum ETFs. Bitwise, one of the eight investment funds issuing a spot ETF on Ethereum, will donate 10% of the profits from trading these financial instruments to Ethereum developers.

According to the recent announcement, the donations will be divided between two organisations: Protocol Guild and PBS Foundation. Protocol Guild supports over 170 developers dedicated to Ethereum’s “research and development” segment. PBS Foundation is a non-profit organisation that funds Ethereum’s open-source development and related research.Today, it will be long remembered by enthusiasts in this sector. The first months of 2024 have kicked off a new chapter in the history of this innovative technology, also thanks to the arrival of Ethereum ETFs. Compared to last year, the status quo has completely changed: Ethereum is not a security, and for the first time, a crypto other than Bitcoin will be tested in the traditional investor market.


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US FOMC: no rate cut in April. How did the market react?

US Inflation: Today’s CPI Data

The FED and its president, Jerome Powell, have decided that interest rates will remain unchanged. When will we see the first cut?

The situation on interest rates has changed dramatically compared to last month. Chairman Jerome Powell announced the Federal Reserve’s (FED) decision of 1 May 2024, which ruled out a rate hike in the coming months. 

This statement denotes a change of course on the part of the US central bank, as its president had announced his intention to make at least three rate cuts during 2024 in past meetings.

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The Fed’s decision

The FOMC (Federal Open Market Committee) meeting on 1 May ended like the four previous ones, i.e. with nothing. The Federal Reserve decided not to change interest rates, which remain fixed in the range of 5.25% to 5.5%. What weighed on the decision, which was taken by a unanimous vote of all meeting participants, was mainly inflation. According to the latest Consumer Price Index (CPI) data, published on 10 April 2024, inflation in the US stands at 3.5%, still well above the 2% target.

In short, the current scenario is very different from the one assumed at the beginning of 2024. At that time, experts predicted six or seven downward adjustments in interest rates, in the grip of the wave of optimism that had swept through the investment sector. In March, then, after revising expectations, Powell announced his intention to make at least three cuts during 2024 starting in June.

The labour market also falters

In April, the US labour market was also less buoyant than in previous months. According to the report released in early May, the unemployment rate rose and new jobs were fewer than analysts had expected.

The ‘Nonfarm Payrolls‘ figure, i.e. payrolls excluding the agricultural sector, returned +175,000 instead of the +240,000 expected, while the unemployment rate rose from 3.8% to 3.9%. These figures are particularly harmful compared to those of March (around 300,000 new jobs and the unemployment rate at 3.8%), reflecting the market’s optimism.

The reaction of the markets

Although, in theory, the postponement of the interest rate cut should not be exactly positive news for the markets, the major US indices reacted well to the FOMC decision.

On the same day, the S&P 500, the index tracking the performance of the five hundred most capitalised American companies, lost about 1.5%, only to recover in the following days. It is currently in the 5,185 area, thanks to a bullish movement that started the day after the meeting of about +3.5%. The NASDAQ and the Dow Jones also performed well over the past week. They rose by 4.7% and 3% respectively. 

In recent months, the performance of the US stock market seems increasingly decoupled from the country’s monetary policy. The leading indices are close to all-time highs and do not suffer from the periodic postponement of interest rate cuts.

What will the Federal Reserve decide in the coming months? The central bank’s main objectives remain the same as in March: to control inflation and promote employment, although the situation has worsened compared to two months ago. Will inflation go back down, and will this allow the US central bank to proceed with the first, long-awaited interest rate cut? Or will the FOMC and Jerome Powell change their minds again, and the cost of money remains unchanged throughout 2024? 

If we were to see the first scenario, interest in the crypto sector could also grow as government bond yields decrease. You can prepare for this possible scenario by buying Bitcoin on our app!

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The Halving of Bitcoin 2024 has just happened. Why set up a recurring purchase now

Bitcoin's halving has happened: what to do?

Bitcoin’s halving was successful. What to do? Historical data predicts rises in the months following the event, so why set up a recurring buy now?

What should we do now that Bitcoin’s halving has happened? After the rewards for miners have halved, many wonder what will happen to cryptocurrency’s price.

Historically, this event has established a market cycle that seems to repeat itself at similar intervals. Where do we stand now? Could the recent cryptocurrency retracement be an opportunity to buy Bitcoin at a lower price?

Halving Bitcoin, what to do: analysis of the BTC price in 2024

For the price of Bitcoin, 2024 has been an interesting year. At the beginning of the year, BTC was in the $40,000 price range, while today, it orbits around $56,000 after the crypto recorded a new all-time high at $73,000 in March. Just comparing historical data might be the right way to get an idea of its future price targets.

In the days following the 2020 halving, which occurred on 11 May of that year, Bitcoin’s price was in the $8,000 zone. In January 2021, it broke to its current all-time high at $20,000, while less than 12 months after the event, it recorded a new one at $64,000.

The main difference from that market cycle concerns the new all-time high. Bitcoin recorded a new all-time high about a month before the important event.

If you have been with us in the crypto market for a few years, you may remember that BTC rose in a similar move during the bear market of 2018-2019. At that time, the rise was 100%, but then it quickly subsided. Due to the market shake-up over the last few weeks, we are again below the ATH, but given Bitcoin’s performance during 2024, we might reach it again soon!

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How long until the next upturn? 

Looking at Bitcoin’s past bear market performance, we can see that after the bottom, the crypto took some time to recover. Indeed, it has been “water under the bridge” since November 2022, the month in which Bitcoin hit the low point at $15,000. Should it move as it has in the past, that area of the chart will never be reached again.

Still referring to past movements, buying Bitcoin regularly over the next few months could bring great satisfaction. Indeed, one could put the crypto aside at bargain prices, waiting for the explosion that usually occurs a few months after halving.

Of course, one cannot look at the past to predict the future, but knowing historical data is indispensable for making decisions.

What to do? Focus on recurring purchase

What could stimulate the price rise? In the past, Bitcoin’s halving has jump-started crypto. In fact, the halving of rewards has always been the starting point of a new bullish cycle. 

Contrary to what one might think, these price movements and the consequent reaching of new all-time highs never occur suddenly. Above all, the initial phases are usually very slow and gradual and become more explosive after new highs are reached. 

It must also be said that the experts’ forecasts for BTC at the end of 2024 are decidedly optimistic: according to Standard Chartered analyst Geoff Kendrick, the price of Bitcoin, after halving, will easily touch $100,000. For TechDev, the outlook is at $160,000.

Setting up a recurring purchase in pre-halving Bitcoin only takes a few minutes. Go to the Piggy Bank section of the Young Platform app, choose the amount and frequency you want and start saving your cryptos by taking advantage of the bear market!

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*The information in this article is for educational purposes and is not an incentive to invest. It is based on historical and objective Bitcoin market data, and the charts do not represent future predictions. The performance of any cryptocurrency portfolio is always subject to market conditions and volatility.

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Halving Bitcoin: the complete list

Historical Halving Bitcoin: complete list and dates

Bitcoin halving: here’s the history and dates to keep in mind. When did they occur, and what happened to Bitcoin issues?

There have been three halvings of Bitcoin in history so far, and the dates of each have always been closely monitored. This mechanism, internal to the system, regulates the gradual decrease in rewards given to miners who validate blocks. It reduces crypto in circulation and thus maintains scarcity, and it is one of the most anticipated moments for the entire crypto market.

In this article, we will look at the history of Bitcoin’s halving by specifying the dates on which these halvings occurred and try to understand their effect on the price. So far, during the halving market cycles, Bitcoin’s price growth has been more than exponential.

You will find a complete guide to the upcoming 2024 Bitcoin halving at the following link.

Halving of 2012

The first Bitcoin halving in history took place on 28 November 2012. This event marked a crucial turning point for the crypto world, as this mechanism was activated for the first time. 

In the months that immediately followed, the price of BTC was not positively affected by the event. However, from the beginning of 2013 onwards, the value of the crypto began to rise steadily, reaching a high of over $1,100 in April. This figure, which seems derisory to this day, was impossible to predict at the time and was reached from the $8 level, thanks to a bullish movement of 12,000%.

  • Date: 28/11/2012
  • Block number: 210,000
  • Rewards per block: 25 BTC
  • Price: $12
  • Price one year later: $964

Halving of 2016

The second halving in Bitcoin’s history took place on 9 July 2016. Because of BTC’s incredible performance in the months following the first halving, many expected the price to rise, which indeed came in May of that year. A few days before, the rewards for miners halved. However, the value plummeted from $750 to $450. In the following months, digital gold literally exploded to the upside, its value orbiting around the $20,000 mark a year and a half later.

  • Date: 09/07/2016
  • Block number: 420,000
  • Rewards per block: 12.5 BTC
  • Price: $663
  • Price one year later: $2550

The halving of 2020

The pandemic’s start strongly influenced Bitcoin’s price action at the third halving in history (May 2020). After the disastrous performance in 2018, Bitcoin’s price returned strongly in early 2019. However, the arrival of Covid-19 also strongly influenced digital gold, which lost more than 60% of its value from January to April.

After touching the low point on 20 April 2020, it resumed strongly, using the following month’s halving as a ‘launching pad’. The bullish market cycle of the third halving in history culminated in the current ATH at $69,000.

  • Date: 11/05/2020
  • Block number: 630,000
  • Rewards per block: 6.25 BTC
  • Price: $8,740
  • Price one year later: $58,000

Want to prepare for the next halving coming? Consider accumulating some Satoshi through recurring buying. That way, you won’t suffer too much from market volatility.

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Halving 2024: Where can Bitcoin go from here?

  • Date: 20/04/2024
  • Block number: 840,000
  • Rewards per block: 3,125 BTC
  • Price: $64,500
  • Price one year later: N/A

Now that the halving of 2024 is behind us, one might wonder whether this event will make history in the crypto sector as it has in the past. It has to be said that Bitcoin and the entire cryptocurrency sector are very different from when its predecessors took place. By now, BTC has become a recognised asset even by institutional investors, especially after the approval of spot ETFs issued by large US funds.

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Therefore, it can be useful to compare it with other assets to try and predict how it will behave. For instance, there are those who see BTC as the digital store of value par excellence and, therefore, believe that its price can grow tremendously. Today, the market capitalisation of gold (the most important physical store of value) is twelve times larger than that of BTC. 

Some instead think that crypto will become the native currency of the Internet. According to the scenario, there is still a lot of room for expansion of this market; the adoption of Bitcoin is still very limited compared to that of the network.

In short, from a historical perspective, the halving of Bitcoin has always positively influenced prices. Of course, one cannot say that the bullish phases of the past were caused solely by these events, but they certainly contributed to a positive narrative.


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Bittensor (TAO) is available on Young Platform

TAO is available on Young Platform

Starting today, you can purchase a new crypto on Young Platform Pro: find out all the information about Bittensor (TAO)!

From now on, you can buy and sell Bittensor (TAO) on Young Platform! A blockchain protocol dedicated to artificial intelligence models. Deposits and withdrawals are not available for this cryptocurrency. For more information, read our Terms and Conditions.

Bittensor (TAO): what do you need to know?

Bittensor (TAO) aims to decentralize and democratize access to artificial intelligence. This protocol enables collaborative, decentralized AI models and thus aims to overcome the limitations of centralized ones. The active consensus mechanism on this network is managed by a Proof-of-Intelligence algorithm composed of nodes that evaluate each other’s contributions according to utility and quality standards.

How to use TAO on Young Platform Pro

Here are all the features available for Bittensor (TAO) on Young Platform Pro:

  • Buying and selling with USDT

What are you waiting for? Access the app or the web version of Young Platform to purchase this innovative cryptocurrency!
Attention! Bittensor (TAO) can only be bought and sold but not withdrawn or deposited to and from Young Platform.


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Tax and Reports: Young Platform’s new feature for cryptocurrency tax reporting

Comprehensive guide to 2024 tax return services, including tax report preparation, accountant advice, and third-party exchange, wallet, and blockchain integration to regularise your position from 2016.

One of the leading causes of ‘headaches’ for cryptocurrency enthusiasts is tax returns. This is not because crypto enthusiasts want to behave non-compliantly with current regulations but precisely because of their complexity, which often needs to be clarified.

Moreover, experienced users who navigate this universe in depth are used to making a large number of transactions that then become very difficult to trace and reconstruct. Using different exchanges, DeFi platforms, Metamask or collecting NFTs complicates things further. 

Last year, to remedy this problem, we launched the Tax Report, which was well received by our community. The aim was to ‘simplify life’ for our users and make declaring cryptocurrencies a breeze.

However, the Italian Budget Law 2023 and the Agenzia delle Entrate have changed the game for the 2024 tax declaration. The changes introduced concern many aspects, including revising the 730, Form RW and Form RT. 

Therefore, we have created a new section on our platform dedicated to the tax declaration of cryptocurrencies. The initiative is aimed at Young Platform users and anyone wishing to use a comprehensive service to declare their cryptocurrencies without spending a fortune. 

Let’s discover together all the services of the new Tax & Reports functionality:

  • the Young Platform Tax Report updated for the 2024 declaration 
  • The Tax Report Integrated with Okipo (exchange, wallet and third blockchain) 
  • the Young Platform Transaction Report
  • Stamp duty 
  • the consultancy service with our accountants.

Finally, we will look at the discounts provided for our Clubs! 

Keep these essential aspects in mind:

  • All reports include data from both exchanges, Base and Pro. 
  • The “Tax & Reports” section is available from the Young Platform web (desktop) version. It will be integrated into the app in the coming weeks.
  • Those who have already purchased the Tax Report during the pre-sale can now download it!

Please note: the Tax Reports (both Young Platform report and Okipo) have been created to comply with Italian tax regulations. Therefore, purchasing the Tax Report still needs to be enabled for other countries. If you are a tax resident in Italy, access Young Platform by setting the language to Italian to purchase the Tax Report. If you cannot do so, please open a support ticket.

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The new Young Platform Tax Report 

If you only use Young Platform – either Basic or Pro – this is the service for you. By purchasing this report, you can download a handy PDF with a clear and straightforward outline of everything you own in cryptocurrencies and the data you need to complete your tax return. 

In addition, to help you with the compilation, you will see a facsimile of Form RW and Form RT attached. The former must be filled in for stamp duty, and the latter if you have generated gains in 2023 that exceed EUR 2,000. If, on the other hand, you have suffered any losses, you can recover them over the next four years by entering them in Form RT. 

The main advantage of this report lies in the price. Let’s see why.

First of all, the Tax Report is retroactive. If you started buying cryptocurrencies on Young Platform in 2019, your PDF includes an overview of your portfolio for tax reporting from 2019 to the present. Unlike other exchanges or services, you pay a single report to regularise your tax position from the first year you invest in cryptocurrencies. 

Secondly, the price is calculated on the number of transactions made. As a result, you get a fully customised pricing plan and only pay for your actual activity level. Suffice it to say that the basic plan costs €9.99. 

This policy responds to an elementary desire: to allow all our users to comply with their tax obligations and take advantage of this market with peace of mind without affecting their budget.

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The Okipo Integrated Report on Young Platform 

This integration was made for Young Platform users who use other exchanges, own NFTs, have cryptocurrencies in DeFi platforms, or simply store their crypto assets in wallets outside of Young Platform. 

Due to its flexibility, it is also ideal for those who do not use Young Platform as an exchange but are looking for a cost-competitive solution. For these, simply register and access the ‘Fees and Reports’ section. 

Thanks to the cooperation between our company and Okipo, we can offer a unique retroactive report and a discounted pricing plan on their price list, which costs €229 per fiscal year. Young Platform users will be entitled to discounted prices as follows. 

PLEASE NOTE: To obtain this benefit, you must use the Okipo service from the Young Platform ‘Tax and Reports’ section. 

  • For Young Platform users who are not members of a Club, the Okipo Report has a total cost of €59 (instead of €229 per fiscal year).
  • Club Bronze: €54 (instead of €229 per fiscal year).
  • Club Silver: €49 (instead of €229 per fiscal year).
  • Club Gold: €44 (instead of €229 per fiscal year).
  • Platinum Club: €39 (instead of €229 per fiscal year).

Thanks to this collaboration, you will also have access to these benefits: 

  • Full annual coverage*: unlike other services that require payment for each fiscal year, our price includes coverage of all transactions made since you started using cryptocurrencies.  
  • Priority support: as a Young Platform user, you are entitled to priority customer service. 

*If the number of transactions exceeds 10,000 per year, it will be necessary to request the addition of a further 10,000 transactions for each year in which the limit was exceeded.

How does it work?

Okipo allows you to integrate all wallets, exchanges and blockchains to import all transactions from 2016 to date. 

Through a highly intuitive system, users can connect their crypto wallets and exchanges via CSV files, with detailed guides available to facilitate each type of connection. 

At this point, Okipo imports all transactions automatically, eliminating the need for manual entries and significantly reducing the time spent on tax management. Upon completing the import, users can easily download all necessary tax documentation from 2016 to date, already compiled and ready to be submitted to the tax authorities.

 If you are not a Young Platform user and need more information, you can fill out this form to be contacted by our team, who will help you find the best solution.

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The Transaction Report

The Young Platform Transaction Report records every movement and order made on the platform. This document, which is always available for download in the Fees & Reports section, acts as an accurate statement of account, providing a detailed overview of activity on the exchange. It allows you to track, export and archive your entire transaction history, including deposits, withdrawals and buy, sell and exchange order details. Although it does not directly provide the data required for tax returns, the report is an excellent complementary tool for documenting your activities. It offers a clear and organised view that facilitates the reconstruction and detailed analysis of all transactions.

Download Trasaction Report

Stamp Duty 

Italian legislation introduced several new features, one of which is the 0.2% tax, also known as ‘Stamp Duty’. This tax is linked to completing the RW Form. 

Many Young Platform users have the advantage of already paying for it. The exchange automatically calculates and pays tax on what you own on the Base and Pro exchanges. Simply go to the ‘Tax and Reports’ section to check your balance. If you must pay all or part of the tax, simply deposit Euro in your account by bank transfer or card. 

It is essential to download the payment receipt and attach it to your tax declaration. You can download it from the section free of charge. Please note that other exchanges have introduced this policy to simplify user tax compliance. Therefore, if you use several exchanges, check that they still need to pay the tax for you. In this case, download the payment receipt and attach it to your declaration.

Download the receipt

Club Young Platform discounts 

Club members enjoy fixed discounts when purchasing the Young Platform Tax Report. Here is an overview of the discounts: 

  •  Club Bronze: 10%.
  •  Club Silver: 20%.
  •  Club Gold: 40%.
  •  Club Platinum: 80%.

Discounts are applied in the purchase phase for the report integrated with Okipo and are visible on the partner interface. On the screen, a banner indicates the activation of the discount relative to the Club membership.  

  • Club Bronze: €54 
  • Club Silver: €49 
  • Club Gold: €44 
  • Platinum Club: €39   

We want to draw attention to the fact that these discounts are only applied to the purchase of reports rather than to consulting with accountants.

Subscribe a Club

Consulting with accountants experienced in cryptocurrencies

Many people may have a challenging situation or, more simply, feel more secure if an accountant familiar with crypto regulations is in charge of them. 
You can request an appointment through the dedicated banner. Please note that our accountants’ network has its own pricing plan, which they will inform you about according to your situation. Again, the price will be set according to your specific situation so that you pay in full for what you really need.

Vai a Young Platform Web


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Young Platform and TradingView: the partnership is renewed!

Trading View and Young Platform: Partnership Renewal

Young Platform has renewed its partnership with TradingView, the platform that has revolutionised the way markets are analysed. 

We are proud to announce that our partnership with TradingView, the most widely used platform for analysing the charts of major assets, including cryptocurrencies, has been renewed.

What does this mean in a nutshell? On Young Platform Pro, our dedicated crypto trader exchange, you have all the most popular tools of this powerful, sophisticated and comprehensive platform at your disposal. Indicators, tools, sliders and drawing tools, you have everything you need to fulfil your potential and become a better trader!

What, in short, is TradingView?

TradingView is the world’s most widely used technical market analysis platform. It is an essential resource for traders wishing to consult charts and carry out in-depth analysis to find the right entry and exit points for a position.

TradingView has conquered the market thanks to two key features, especially when dealing with a discipline as complex as trading: ease of use and customizability.

In this sense, it is the perfect tool for novice traders who want to follow the price of a particular asset, such as Bitcoin. It is also perfect for experienced traders who need professional tools, which the platform itself provides.

TradingView and Young Platform: a trading experience without limits 

Another great strength of TradingView concerns its ability to adapt to trading platforms and exchanges, in the case of the crypto world. 

Thanks to this feature, and the resulting collaboration between Young Platform and Trading View, you will find all the indicators and tools you need for in-depth analysis on our exchange Pro. In other words, you can study the charts in one virtual space, finding your setups every time you log in.

You can plot trendlines or use an exponential moving average, for example, to find the perfect time to buy your favourite crypto. No matter how long this scenario takes to play out, once you log in, you will find everything as you left it.

Here are, in detail, the main advantages of integrating TradingView on Young Platform Pro:

  • Enhanced crypto charts: use the many trading indicators at your disposal to perform your technical analysis;
  • All your tools in one place: draw lines or geometric figures, draw, colour certain sections and write your notes directly on the chart;
  • Your drawings and analyses remain there, where you left them;
  • You can view all your open orders directly on the chart and keep track of your trading strategies.

Now that you know how the collaboration between Young Platform and TradingView works and what benefits it brings, you just have to start trading in a, truly, professional manner.
Keep following our blog so you don’t miss upcoming updates to Young Platform Pro to test the indicators, drawing tools and tools by TradingView.