{"id":2458,"date":"2024-03-22T06:56:53","date_gmt":"2024-03-22T06:56:53","guid":{"rendered":"http:\/\/localhost\/dpetkovski\/?p=2458"},"modified":"2024-07-03T18:53:00","modified_gmt":"2024-07-03T18:53:00","slug":"dividend-leakage-understanding-the-hidden-cost","status":"publish","type":"post","link":"http:\/\/localhost\/dpetkovski\/dividend-leakage-understanding-the-hidden-cost\/","title":{"rendered":"Dividend Leakage &#8211; Understanding the Hidden Cost"},"content":{"rendered":"<p>Dividend leakage is an expense that many investors accrue without even knowing.<\/p>\n<p>It\u2019s a hidden cost related to investing in international\u00a0<a href=\"https:\/\/dpetkovski.com\/etfs-exchange-traded-funds\/\">ETFs\/funds<\/a>\u00a0that\u2019s not reported in their factsheet or prospectus.<\/p>\n<p>In this post, I\u2019ll explain what is dividend leakage and how to calculate it yourself.<\/p>\n<p>I generally recommend against <a href=\"https:\/\/dpetkovski.com\/dividend-investing-is-for-suckers\/\">dividend investing<\/a>, but if you&#8217;re already living off of dividends, this post might save you hundreds of thousands in the long run.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_60 ez-toc-wrap-center counter-hierarchy ez-toc-counter ez-toc-white ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\" role=\"button\"><label for=\"item-66e419ea5080f\" ><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input aria-label=\"Toggle\" aria-label=\"item-66e419ea5080f\"  type=\"checkbox\" id=\"item-66e419ea5080f\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"http:\/\/localhost\/dpetkovski\/dividend-leakage-understanding-the-hidden-cost\/#Dividend_Leakage_Explained\" title=\"Dividend Leakage Explained\">Dividend Leakage Explained<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"http:\/\/localhost\/dpetkovski\/dividend-leakage-understanding-the-hidden-cost\/#An_Example_of_Dividend_Leak\" title=\"An Example of Dividend Leak\">An Example of Dividend Leak<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"http:\/\/localhost\/dpetkovski\/dividend-leakage-understanding-the-hidden-cost\/#Calculating_Dividend_Leak_for_VUSA\" title=\"Calculating Dividend Leak for VUSA\">Calculating Dividend Leak for VUSA<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"http:\/\/localhost\/dpetkovski\/dividend-leakage-understanding-the-hidden-cost\/#Calculating_the_Total_Cost_of_VUSA\" title=\"Calculating the Total Cost of VUSA\">Calculating the Total Cost of VUSA<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"http:\/\/localhost\/dpetkovski\/dividend-leakage-understanding-the-hidden-cost\/#Commentary_on_the_VUSA_Example\" title=\"Commentary on the VUSA Example\">Commentary on the VUSA Example<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"http:\/\/localhost\/dpetkovski\/dividend-leakage-understanding-the-hidden-cost\/#Can_Accumulating_Funds_Help\" title=\"Can Accumulating Funds Help?\">Can Accumulating Funds Help?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"http:\/\/localhost\/dpetkovski\/dividend-leakage-understanding-the-hidden-cost\/#Handling_Dividend_Leakage\" title=\"Handling Dividend Leakage\">Handling Dividend Leakage<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"http:\/\/localhost\/dpetkovski\/dividend-leakage-understanding-the-hidden-cost\/#Afterword\" title=\"Afterword\">Afterword<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Dividend_Leakage_Explained\"><\/span>Dividend Leakage Explained<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Let\u2019s say you\u2019re a non-US person looking to invest using the\u00a0<a href=\"https:\/\/dpetkovski.com\/stock-market-index-explanation-and-examples\/\">S&amp;P 500 as a benchmark<\/a>.<\/p>\n<p>So, you find an adequate (reputable &amp; low cost)\u00a0<a href=\"https:\/\/dpetkovski.com\/index-investing-index-funds-a-gentle-introduction\">index fund<\/a>\u00a0in your country. Assuming that it\u2019s a <strong>distributing fund<\/strong>, it means that the following will happen:<\/p>\n<ol>\n<li>The underlying companies will issue dividends, withholding US dividend tax<\/li>\n<li>The fund will receive the dividends and pay them out to you, withholding your country\u2019s dividend tax<\/li>\n<\/ol>\n<p><strong>Dividend Leakage\u00a0<\/strong>represents the taxes that \u201cleak\u201d while the underlying companies distribute dividends to the fund (step 1).<\/p>\n<p>Note that you don\u2019t have any bureaucratic burden because of this.<\/p>\n<p>It\u2019s just an extra (hidden) cost of international investing.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"An_Example_of_Dividend_Leak\"><\/span>An Example of Dividend Leak<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Let\u2019s use an actual ETF for an example: <a href=\"https:\/\/www.vanguardinvestor.co.uk\/investments\/vanguard-s-and-p-500-ucits-etf-usd-distributing\" target=\"_blank\" rel=\"noopener\"><strong>$VUSA<\/strong>\u00a0(Vanguard S&amp;P 500 UCITS ETF)<\/a>.<\/p>\n<p>Most of you are already familiar with it, so just a quick summary of its key characteristics:<\/p>\n<ul>\n<li>An ETF tracking the S&amp;P 500<\/li>\n<li><a href=\"https:\/\/dpetkovski.com\/total-expense-ratio-the-importance-of-keeping-it-low\/\">Total Expense Ratio<\/a>\u00a0of 0.07%<\/li>\n<li><a href=\"https:\/\/dpetkovski.com\/accumulating-vs-distributing-etfs\/\">Distributing fund<\/a> (pays out dividends to shareholders)<\/li>\n<\/ul>\n<p>And as you can see in the image below, its annual dividend yield is 1.29%.<\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-2460\" src=\"http:\/\/localhost\/dpetkovski\/wp-content\/uploads\/2024\/03\/DividendYieldVUSA-1024x240-1.png\" alt=\"dividend leak\" width=\"1024\" height=\"240\" \/><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Calculating_Dividend_Leak_for_VUSA\"><\/span>Calculating Dividend Leak for VUSA<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>We can calculate the dividend leakage using this step-by-step process:<\/p>\n<p>All the\u00a0<a href=\"https:\/\/dpetkovski.com\/dividend-investing-is-for-suckers\/\">dividend distributions<\/a> from the underlying companies add up to <strong>1.29% per share<\/strong>.<\/p>\n<p>As $VUSA tracks the US market only, we can easily check the <a href=\"https:\/\/taxsummaries.pwc.com\/united-states\/corporate\/withholding-taxes\" target=\"_blank\" rel=\"noopener\">dividend tax rates for non-resident investors<\/a>.\u00a0For most European countries,\u00a0<strong>the US corporate dividend withholding rate is 15%<\/strong>, which I\u2019ll use for this example.<\/p>\n<p>So,\u00a0<strong>15%<\/strong> (US withholding tax rate) of <strong>1.29%<\/strong>\u00a0(dividend yield) is\u00a0<strong>0.19%<\/strong>.<\/p>\n<p>This represent the total amount of dividend tax that will &#8220;leak&#8221; when investing in this ETF.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Calculating_the_Total_Cost_of_VUSA\"><\/span><span id=\"Calculating_the_Total_Cost_of_VUSA\" class=\"ez-toc-section\"><\/span>Calculating the Total Cost of VUSA<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>So, we have\u00a0<a href=\"https:\/\/dpetkovski.com\/cspx-vs-vusa-vs-iusa-my-thoughts\/\">$VUSA<\/a>\u00a0with its\u00a0<strong>TER of 0.07%<\/strong>.<\/p>\n<p>On top of that, we have the\u00a0<strong>dividend leakage of 0.19<\/strong><strong>%.<\/strong><\/p>\n<p>This means that the\u00a0<a href=\"https:\/\/dpetkovski.com\/investing-expenses-full-breakdown\/\">total cost<\/a> of holding $VUSA is the sum of the two: <strong>0.26% per year<\/strong>.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Commentary_on_the_VUSA_Example\"><\/span><span id=\"Commentary_on_the_VUSA_Example\" class=\"ez-toc-section\"><\/span>Commentary on the VUSA Example<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>An important thing to keep in mind is that\u00a0<strong>this amount is not fixed<\/strong>.<\/p>\n<p>It\u2019s actually changes over time because it depends on\u00a0<strong>the current<\/strong>\u00a0<strong>dividend yield\u00a0<\/strong>of the underlying companies.<\/p>\n<p>But unless the dividend yields drastically change, you can\u00a0<em>estimate<\/em>\u00a0your dividend leak expense as:<\/p>\n<ul>\n<li>0.2% for US ETFs<\/li>\n<li>0.12% for global ETFs (such as\u00a0<a href=\"https:\/\/dpetkovski.com\/iwda-vs-vwce-and-vwrl-for-european-investors\">VWRL, IWDA, VWCE<\/a>, etc.)<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Can_Accumulating_Funds_Help\"><\/span><span id=\"Can_Accumulating_Funds_Help\" class=\"ez-toc-section\"><\/span>Can Accumulating Funds Help?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As you should already know, an\u00a0<a href=\"https:\/\/dpetkovski.com\/accumulating-vs-distributing-etfs\/\"><em>accumulating fund<\/em><\/a>\u00a0reinvests the dividends instead of distributing them to investors.<\/p>\n<p>This means that the following would happen:<\/p>\n<ol>\n<li><em>(Between the companies and the fund)<\/em>\u00a0The fund would receive the dividends with US taxes withheld<\/li>\n<li><em>(Between the fund and the investor)<\/em>\u00a0The fund will reinvest these dividends instead of paying them out to the investor<\/li>\n<\/ol>\n<p>As you\u2019ve probably noticed, accumulating funds only affect the step <em>\u201c2. B<\/em><em>etween the fund and the investor\u201d<\/em>. The investor never received any cash payments, so he doesn\u2019t bear a burden of reporting any taxes.<\/p>\n<p>But the step <em>\u201c1. B<\/em><em>etween the companies and the fund\u201d\u00a0<\/em>is still present \u2013 the dividend tax was paid out to the fund with US dividend taxes withheld.<\/p>\n<p><strong>Buying an accumulating ETF doesn\u2019t mean that you\u2019ll avoid dividend leakage.<\/strong><\/p>\n<p>The funds still receive the dividends with dividend taxes withheld. And only after they proceed to reinvest them instead of paying the dividends out to you.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Handling_Dividend_Leakage\"><\/span><span id=\"Handling_Dividend_Leakage\" class=\"ez-toc-section\"><\/span>Handling Dividend Leakage<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Some brokers and funds offer a (partial) recovery of these withheld taxes. If applicable, you\u2019ll need to fill out a form and they\u2019ll take care of recovering the amount.<\/p>\n<p>This depends on your country of residence and its relationship with the country that\u2019s distributing the dividends. So we can\u2019t talk about this in global context.<\/p>\n<p>However,\u00a0<strong>the first step<\/strong>\u00a0is to make sure to understand your exposure to dividend leakage.<\/p>\n<p>Then, one needs to understand that even removing it completely doesn\u2019t mean that the option costs less in the grand scheme of things. You need to see it in the greater context of\u00a0<strong><a href=\"https:\/\/dpetkovski.com\/investing-expenses-full-breakdown\/\">all expenses<\/a><\/strong>. For example, you don\u2019t want a fund with TER of 1% to help you recover 0.2% of dividend leakage.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Afterword\"><\/span><span id=\"Afterword\" class=\"ez-toc-section\"><\/span>Afterword<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>I know all of this can be overwhelming for a beginner, but give it some time\u2026<\/p>\n<p>It becomes second nature after a couple of months.<\/p>\n<p><strong>Or!<\/strong><\/p>\n<p>Simply accept that a part of the dividend distributions will be lost and don&#8217;t worry about it.<\/p>\n<p>Just make sure to fill out a\u00a0<a href=\"https:\/\/www.investopedia.com\/terms\/w\/w8form.asp\" target=\"_blank\" rel=\"noopener\">W-8BEN<\/a>\u00a0form if your broker offers it.<\/p>\n<hr \/>\n<p><em>For more intermediate posts on investing from Europe, visit: <a href=\"https:\/\/dpetkovski.com\/eu-investors-handbook\/\"><strong>EU Investors Handbook<\/strong><\/a>.<\/em><\/p>\n<p><em>If these concepts are too advanced for you, visit: <a href=\"https:\/\/dpetkovski.com\/how-to-start-investing-a-complete-beginner-series\/\"><strong>How to Start Investing: A Complete Beginner Series<\/strong><\/a>.<\/em><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dividend leakage is an expense that many investors accrue without even knowing. It&rsquo;s a hidden cost related to investing in international&nbsp;ETFs\/funds&nbsp;that&rsquo;s not reported in their factsheet or prospectus. In this post, I&rsquo;ll explain what is dividend leakage and how to calculate it yourself. I generally recommend against dividend investing, but if you&rsquo;re already living off&nbsp;&hellip;<\/p>\n","protected":false},"author":1,"featured_media":2459,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,17,22],"tags":[],"ppma_author":[4],"class_list":["post-2458","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing","category-stocks-etfs","category-taxes"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Dividend Leakage - Understanding the Hidden Cost - D. 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Prepare yourself by learning what it is and how to manage it.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"http:\/\/localhost\/dpetkovski\/dividend-leakage-understanding-the-hidden-cost\/","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"http:\/\/localhost\/dpetkovski\/dividend-leakage-understanding-the-hidden-cost\/#article","isPartOf":{"@id":"http:\/\/localhost\/dpetkovski\/dividend-leakage-understanding-the-hidden-cost\/"},"author":{"name":"D. Petkovski","@id":"http:\/\/localhost\/dpetkovski\/#\/schema\/person\/ce4d9bf1ba43635723c9d1b513b58049"},"headline":"Dividend Leakage &#8211; Understanding the Hidden Cost","datePublished":"2024-03-22T06:56:53+00:00","dateModified":"2024-07-03T18:53:00+00:00","mainEntityOfPage":{"@id":"http:\/\/localhost\/dpetkovski\/dividend-leakage-understanding-the-hidden-cost\/"},"wordCount":851,"publisher":{"@id":"http:\/\/localhost\/dpetkovski\/#\/schema\/person\/ce4d9bf1ba43635723c9d1b513b58049"},"articleSection":["Investing","Stocks &amp; ETFs","Taxes"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"http:\/\/localhost\/dpetkovski\/dividend-leakage-understanding-the-hidden-cost\/","url":"http:\/\/localhost\/dpetkovski\/dividend-leakage-understanding-the-hidden-cost\/","name":"Dividend Leakage - Understanding the Hidden Cost - D. 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Prepare yourself by learning what it is and how to manage it.","breadcrumb":{"@id":"http:\/\/localhost\/dpetkovski\/dividend-leakage-understanding-the-hidden-cost\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["http:\/\/localhost\/dpetkovski\/dividend-leakage-understanding-the-hidden-cost\/"]}]},{"@type":"BreadcrumbList","@id":"http:\/\/localhost\/dpetkovski\/dividend-leakage-understanding-the-hidden-cost\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"http:\/\/localhost\/dpetkovski\/"},{"@type":"ListItem","position":2,"name":"Dividend Leakage &#8211; Understanding the Hidden Cost"}]},{"@type":"WebSite","@id":"http:\/\/localhost\/dpetkovski\/#website","url":"http:\/\/localhost\/dpetkovski\/","name":"D. 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Petkovski \ud83d\udcd3 The Author\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Husband &amp; Father Software Engineer\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0StrengthCentric Bitcoin Hodler\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0DeFi Veteran \u00a0 \ud83c\udf0d Everything Enthusiast \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\ud83d\udd25 Optimist Revolutionizing ideas. Simplifying complexity. Sharing knowledge.","sameAs":["https:\/\/facebook.com\/dpetkovski","https:\/\/www.instagram.com\/strengthcentric\/","https:\/\/twitter.com\/petkovskix"],"url":"http:\/\/localhost\/dpetkovski\/author\/petkovski\/"}]}},"authors":[{"term_id":4,"user_id":1,"is_guest":0,"slug":"petkovski","display_name":"D. Petkovski","avatar_url":"http:\/\/0.gravatar.com\/avatar\/?s=96&d=mm&r=g","user_url":"","last_name":"","first_name":"","description":"<span style=\"font-size: 23px\">D. Petkovski<\/span> <br> <br>\r\n\r\n\ud83d\udcd3 The Author\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0  \u00a0 \u00a0 \u00a0 \u00a0<span class=\"css-1qaijid r-bcqeeo r-qvutc0 r-poiln3\"><img class=\"emoji\" role=\"img\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/14.0.0\/svg\/1f46a.svg\" alt=\"\ud83d\udc6a\" \/> Husband &amp; Father <\/span>\r\n<br>\r\n<span class=\"css-1qaijid r-bcqeeo r-qvutc0 r-poiln3\"><img class=\"emoji\" role=\"img\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/14.0.0\/svg\/1f5a5.svg\" alt=\"\ud83d\udda5\ufe0f\" \/> Software Engineer\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 <\/span><span class=\"css-1qaijid r-bcqeeo r-qvutc0 r-poiln3\"><img class=\"emoji\" role=\"img\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/14.0.0\/svg\/1f4aa.svg\" alt=\"\ud83d\udcaa\" \/><\/span><span class=\"css-1qaijid r-bcqeeo r-qvutc0 r-poiln3\">\u00a0StrengthCentric <\/span>\r\n<br>\r\n<span class=\"r-18u37iz\"><img class=\"r-4qtqp9 r-dflpy8 r-zw8f10 r-10akycc r-h9hxbl r-9cviqr\" src=\"https:\/\/abs.twimg.com\/hashflags\/Bitcoin_evergreen\/Bitcoin_evergreen.png\" alt=\"\" width=\"20\" height=\"20\" \/> <\/span> Bitcoin <span class=\"css-1qaijid r-bcqeeo r-qvutc0 r-poiln3\">Hodler\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0   \u00a0                            \u00a0 \u00a0 \u00a0<\/span><span class=\"css-1qaijid r-bcqeeo r-qvutc0 r-poiln3\"><img class=\"emoji\" role=\"img\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/14.0.0\/svg\/1f4c8.svg\" alt=\"\ud83d\udcc8\" \/><\/span>\u00a0<span class=\"r-18u37iz\">DeFi<\/span><span class=\"css-1qaijid r-bcqeeo r-qvutc0 r-poiln3\"> Veteran <\/span><span class=\"css-1qaijid r-bcqeeo r-qvutc0 r-poiln3\">\u00a0<\/span>\r\n<br>\r\n\ud83c\udf0d Everything Enthusiast              \u00a0 \u00a0 \u00a0 \u00a0   \u00a0 \u00a0 \u00a0              \u00a0   \u00a0\ud83d\udd25 Optimist <br><br>\r\n\r\nRevolutionizing ideas. Simplifying complexity. Sharing knowledge. \r\n"}],"_links":{"self":[{"href":"http:\/\/localhost\/dpetkovski\/wp-json\/wp\/v2\/posts\/2458"}],"collection":[{"href":"http:\/\/localhost\/dpetkovski\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/localhost\/dpetkovski\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/localhost\/dpetkovski\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/localhost\/dpetkovski\/wp-json\/wp\/v2\/comments?post=2458"}],"version-history":[{"count":11,"href":"http:\/\/localhost\/dpetkovski\/wp-json\/wp\/v2\/posts\/2458\/revisions"}],"predecessor-version":[{"id":3452,"href":"http:\/\/localhost\/dpetkovski\/wp-json\/wp\/v2\/posts\/2458\/revisions\/3452"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/localhost\/dpetkovski\/wp-json\/wp\/v2\/media\/2459"}],"wp:attachment":[{"href":"http:\/\/localhost\/dpetkovski\/wp-json\/wp\/v2\/media?parent=2458"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/localhost\/dpetkovski\/wp-json\/wp\/v2\/categories?post=2458"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/localhost\/dpetkovski\/wp-json\/wp\/v2\/tags?post=2458"},{"taxonomy":"author","embeddable":true,"href":"http:\/\/localhost\/dpetkovski\/wp-json\/wp\/v2\/ppma_author?post=2458"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}