Schlagwort-Archive: crypto

BitGo Confirms Tron Will Receive Institutional-grade Support

BitGo Confirms Tron Will Receive Institutional-grade Support

Most active service providers in the cryptocurrency space
– other than wallets and exchanges
– tend to focus on a handful of currencies at all times.

BitGo is one of those companies which primarily supported the top cryptocurrencies at first. In a new update, it seems Tron will be added to this platform. The current goal is to enable TRX support by November 2019. 

BitGo is Expanding

It is good to see a well-established service provider such as BitGo focus on expanding the support for additional cryptocurrencies. The company is best-known for providing cryptocurrency solutions that cater to institutional clients. Primarily those who seek secure storage solutions and multisignature solutions can benefit from what BitGo has to offer. Although it has been quiet on the company’s front lately, it seems their time has been well spent. More specifically, the company has officially confirmed they will add another cryptocurrency to its services in the near future. That currency will come in the form of Tron, or TRX. The choice for this particular currency is rather intriguing, primarily because Tron has not necessarily seen any institutional interest to date. Then again, there are more currencies than just Bitcoin, Ethereum, and XRP.

Custody Services Galore

It is evident BitGo has positioned itself in the world of cryptocurrency custody services. Their clients include exchanges, brokers, and futures contracts providers, among many other business models. They are also the oldest custody provider in the cryptocurrency space today. For Tron, this means they receive a proverbial nod of approval from a well-established company. According to the company, there has been a growing interest among clients who want to see custodial support for TRX. It remains to be seen which kind of use cases this will unlock over time, as there are many different opportunities to explore. The BitGo team had a previous collaboration with Tron’s developers, as they helped build the first institutional-grade mutisig wallet. The move to on-chain multisig is rather logical.

The Impact on TRX

When good news arises for any cryptocurrency, the asset in question will often see an artificial and orchestrated brief uptrend. Whether or not this will happen following the BitGo announcement, is a different matter altogether. While there is seemingly a demand among institutional clients regarding TRX, that would not necessarily result in a price increase across the different exchanges and trading platforms. 

Article Produced By
JP Buntinx

https://themerkle.com/bitgo-confirms-tron-will-receive-institutional-grade-support/

Heiko Closhen, Entrepreneur

ESports as a Growing Factor for Cryptocurrencies

ESports as a Growing Factor for Cryptocurrencies

After Satoshi Nakamoto mined the genesis block in 2009,

Bitcoin, and cryptocurrencies as a whole, struggled to achieve legitimacy and acceptance. Ten years later, there are over 1,600 unique cryptocurrencies worth billions of dollars. There are about 40 million blockchain wallets scattered throughout cyberspace and that number increases every day. Some purchase virtual cash as an investment. Crypto has made several savvy individuals immensely wealthy. For others, it is a secure and convenient way to pay for goods and services. Of course, Bitcoin is cryptocurrency’s gold standard.

So, who buys these cryptocurrencies? Cryptocurrency owners are typically males between the ages of 18 and 34. Coincidentally, this demographic is also the primary driver behind the growth of eSports and eSports betting. For those who aren’t familiar with the phenomenon, eSports is basically competitive video gaming. With so many crypto-friendly online bookmakers offering odds on eSports, it should come as no surprise that eSports betting with Bitcoin and other digital currencies is on the rise.

More and more of those between 18 and 34 are turning their backs on traditional sports and embracing eSports. In their infinite wisdom, bookies figured out that supporting cryptocurrency and putting eSports on their betting menus is an effective way of attracting this fickle age group. Interestingly, players aren’t the only ones to get a thrill out of League of Legends, Dota 2, and the dozens of other popular eSports. These competitive games also draw millions of spectators. ESports are expected to surpass MLB and NBA viewership by 2021. Again, most of these onlookers are between 18 and 34, and a lot of them own cryptocurrency. There will be over 10,000 eSports events with a total of $189 million worth of cash prizes up for grabs in 2020. That represents hundreds of thousands of betting opportunities. Not including skin betting, there are three main ways to bet on eSports using cryptocurrency.

  • Betting with eSports bookies just as you would bet on traditional sports. Most eSportsbooks present bettors with dozens of wagering options for each individual match.
    Fantasy eSports which is pretty much the same as playing traditional fantasy sports. Pick your dream eSports team and compete against other dream teams.
  • Head-to-Head betting in which eSports players bet against each other.

Americans wagered about $5.5 billion on eSports in 2016. Experts predict that 6.5 million Americans will generate upwards of $13 billion in eSports bets by 2020. A significant portion of those wagers will be made using various cryptocurrencies. And let’s not forget how wildly popular eSports are in many regions of the world where payment options are limited. This doesn’t only affect crypto betting sites; it also has an effect on the bottom lines of game providers that rely on in-game purchases to make their money. Valve is one company that saw crypto as an ideal solution to this problem. They started processing Bitcoin payments for in-game purchases through BitPay in 2016.

Using Bitcoin, Ripple, Ethereum, and other cryptocurrencies to bet on eSports isn’t much different from using cash to wager on traditional sports. However, using virtual currency at online betting sites has some distinct advantages. Transactions are anonymous and fees are minimal if not non-existent. Deposits are nearly instant and withdrawals are often processed within minutes. A lot of eSports betting sites even offer nice bonuses to those who use crypto. It doesn’t matter if you are betting or buying in-game items; cryptocurrency gives users a better payment system.

ESports and cryptocurrency intersect in other areas too. Actually, cryptocurrencies have been fully integrated into several eSports ecosystems. Built on the Ethereum blockchain, FirstBlood is a popular crypto-based eSports platform through which players can bet without using middlemen. DreamTeam also offers blockchain-powered eSports competitions. These and other crypto-based eSports platforms only fuel the use of cryptocurrency. Ripple recently invested $100 million into the development of blockchain-based games. In fact, many game developers are using cryptocurrency to finance their projects. Reality Gaming Group used an initial coin offering to raise $3.5 million, which went into the development of their augmented reality shooter game.

Cryptocurrency and eSports were both once viewed as little more than passing fads. While both still have their share of detractors, they have become huge successes and they aren’t showing any signs of slowing down. They definitely have a symbiotic relationship and an influence on each other’s growth. Expect eSports to continue being a factor in the growth of cryptocurrency moving forward.

Article Produced By
Torsten Hartmann

Torsten Hartmann has been an editor in the CaptainAltcoin team since August 2017. He holds a degree in politics and economics. He gained professional experience as a PR for a local political party before moving to journalism. Since 2017, he has pivoted his career towards blockchain technology, with principal interest in applications of blockchain technology in politics, business and society.

https://captainaltcoin.com/esports-as-a-growing-factor-for-cryptocurrencies/

Heiko Closhen, Entrepreneur

EU Financial Services Chief Hints at Broad Cryptoasset Regulation

EU Financial Services Chief Hints at Broad Cryptoasset Regulation
                                 

During a parliamentary confirmation hearing, the European Commissioner for Financial Stability and Financial Services,

Valdis Dombrovskis, said that the E.U. is planning to regulate cryptoassets following the unanticipated wake-up call from Libra. Bloomberg reports that Libra has shocked global regulators into action, and the E.U. is determined not to be left behind, October 8, 2019.

Regulators Finally Open Their Eyes

Regulation is coming to cryptoassets in Europe as it has finally been confirmed that multiple agencies in the region are working on a framework for the treatment of virtual currencies and cryptoassets. While the organization has not said anything particularly negative, Dombrovskis believes that these currencies must be evaluated based on their risk to financial stability, monetary stability, data protection, and the ability to thwart money laundering.

Nearly one week ago, the European Commission sent Facebook a detailed questionnaire regarding their plans for Libra. The Libra Association and Facebook have yet to reply to the request. France and Germany have vehemently opposed Libra, even though the European Commission seems to be fairly open-minded. Germany went as for as vowing to stop Libra from entering the bloc, so this creates a fairly confusing situation. The primary fear with Libra is that regulators believe it will cause “financial instability”. What this really means is that Facebook has the firepower and resources to establish a private currency that can compete with traditional money.

Libra as a Driver of Fear

Regulators only started to care about cryptocurrency when Bitcoin peaked at $19,700 and started to fall. However, they only started to legitimately act once Libra was announced. Libra is now acting as a catalyst for global regulation of cryptoassets as well as an awareness generator. By dominating headlines in mainstream newspapers, the advent of cryptoassets is being projected to the masses. With Libra now at the forefront, people who have in crypto thus far are finally awakening to the real value proposition of Bitcoin. While “number go up” is fun rhetoric to watch, it is becoming abundantly clear that the censorship-resistant nature of Bitcoin is its most valuable trait. No regulator can shut it down or stop people from using Bitcoin.

Article Produced By
Ashwath Balakrishnan

Ashwath is a financial market and technology junkie. He is a cryptocurrency investor, trader, and enthusiast. He has expertise in market psychology and explaining complex technology in a simple way. He aims to battle misinformation in the cryptocurrency space.

https://btcmanager.com/eu-financial-services-chief-broad-cryptoasset-regulation/?q=/eu-financial-services-chief-broad-cryptoasset-regulation/&

Heiko Closhen, Entrepreneur

IRS Offers Fresh Guidance for Cryptocurrency Holders

IRS Offers Fresh Guidance for Cryptocurrency Holders
                                

The IRS has released its first cryptocurrency taxation guidance since 2014,

when it ruled that all virtual currencies are property and taxed as such. According to Bloomberg, several notable accountants and lawyers see this is a great move, as it gives investors more clarity and paves the way for reasonable regulation, October 9, 2019.

Treatment of Cryptocurrency

The IRS has released a ruling and a Q&A document to help investors in the space understand what the tax agency expects from them. To call the ruling cumbersome would be an understatement. Tax assessees are expected to report each and every transaction they make in order to prove that the price and tax rate they are paying for their cryptocurrency is justified. Holdings that have been accumulated for over a year are charged as per the rate for long term capital gains, while trades under a year are subject to short term capital gains. If an investor transfers cryptocurrencies from one wallet of theirs to another, they have to prove that fresh cryptocurrency wasn’t sent to a particular account by showing the transaction between the two addresses.

If unable to prove this through requisite transactions, the assessee will be double taxed. Thus far, the IRS has grappled with how to tax and treat cryptocurrencies. The first sign of their intent to bring stringent regulation to the space came in the form of warning letters to investors who used Coinbase. It was further revealed that the agency is building tax evasion cases against several entities that deal with cryptoassets. One of the more important takeaways is that hard forks and airdrops are considered taxable events.

Reception of IRS Guidance

Professional tax auditors and accountants are, on the whole, satisfied that the IRS has helped offer some amount of clarity. However, they do acknowledge that there is still a lot left unanswered and this is just the first step to better taxation. One fairly common criticism is that the IRS expects this guidance to be retroactively applied. This means investors could be hit with a penalty for the mistreatment of cryptocurrency during 2018. Although tax professionals aren’t really concerned about this, clients are getting incredibly anxious due to the mixed signals from various regulators. Most professionals in the space acknowledge that while the IRS can issue tax guidance, they don’t have much other power. Before setting up a detailed framework for the treatment of cryptocurrency, Congress and the Treasury must decide the course of action.

Article Produced By
Ashwath Balakrishnan

Ashwath is a financial market and technology junkie. He is a cryptocurrency investor, trader, and enthusiast. He has expertise in market psychology and explaining complex technology in a simple way. He aims to battle misinformation in the cryptocurrency space.

https://btcmanager.com/irs-guidance-cryptocurrency-holders/?q=/irs-guidance-cryptocurrency-holders/&

Heiko Closhen, Entrepreneur

Why Should You Invest In Cryptocurrencies

Why Should You Invest In Cryptocurrencies 

                               

A cryptocurrency is a digital medium of exchange for goods and services

created to ease the transaction and also aid the cashless transaction. These currencies use decentralized devices against the popular central banking system and centralized digital currency. Transactions through cryptocurrencies are highly secured through cryptography which controls, monitor and verity every initiated transaction. Cryptography can also be used to create new coins, which can make it difficult for hackers to forge coins.

Although Bitcoin is the most popular cryptocurrency, other currencies are also striving in the market, currencies such as Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Dash and Bitcoin Cash (BCH) to mention a few. Cryptocurrencies can be a bit risky as the price is not stable, the market price fluctuates and it is unpredictable. Generally, cryptocurrency trading and investment are for people who are risk-takers and looking into investing in a highly profitable investment. Over a couple of years now, cryptocurrencies have been doing well in the market, though there have been little bumps along the road, several currencies have pulled through.

Why Invest In Cryptocurrencies

Below are reasons to invest in cryptocurrencies:

  • Blockchain Technology Is The Future

With blockchain technology serving as a database for cryptocurrencies, transactions are safe and secured. Hassle-free transaction from anywhere around the globe. Many users believe this technology is going to redefine the world economy. Recently, Blockchain has been gaining massive adoption across the world. With this ongoing growth, there are possibilities of a long-term high profit.

Cryptocurrency An An Alternative Mode of Payment

With stress involved in the conventional currency, Cryptocurrency is offering a stress-free transaction method to users. Cryptocurrency authorizes borderless transactions between people which is safe and secured, there is zero need for third party and details are highly confidential. Crypto Investors and traders are hoping for worldwide adoption of cryptocurrency across vendors, ATMs, and banks, thus increasing the market value and profit.

  • Underrated Asset

Currently, people are not looking into investing in cryptocurrency due to the risk of an unstable and unpredictable market price. Sadly, cryptocurrencies are undervalued by those who are not into trading. According to recent predictions by some analysts, by the year 2024, there is the possibility of cryptocurrencies hitting $5 trillion marks. Thus, opening the window for long-term profit as there is going to be a surge in market value in the future.

  • Store of Value 

Though Gold is popularly known as the best store of value, with the invention of new technology, digital currencies are taking shapes in becoming a store of value for people. With the security and privacy attached to cryptocurrency, it can replace Gold in the future.

  • Government Support

Recently, many financial institutions have shown interest in the cryptocurrency market. This is because they foresee great profit opportunities in the crypto space. Since the beginning of this year, prominent people in the finance sector have started trading with cryptocurrency, people like JP Morgan, and Goldman Sachs. Of recent, Fidelity, the sixth-biggest fund manager in the world started offering digital trading services to big institutional investors. So far, Government agencies are also looking into incorporating cryptocurrencies and implementing blockchain technology. Example of such agencies are the China and Japan Government, the Japan Government has embraced cryptocurrencies as a legal means of digital payment, while the China Government has permitted blockchain transactions to be used as proof of transaction in a court of law.

Article Produced By
Max Mayer

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

https://smartereum.com/62427/why-should-you-invest-in-cryptocurrencies/

Heiko Closhen, Entrepreneur

Crypto-Derivatives Could Become Illegal in the UK Next Year

Crypto-Derivatives Could Become Illegal in the UK Next Year

                             

Various governments around the world aren’t too sure how to tackle Bitcoin.

Numerous aspects of this particular industry need to be treated very differently from one another. Crypto-derivatives are getting some unfavorable attention in the United Kingdom. So much even that these vehicles may be considered illegal in the near future. 

Crypto-Derivatives are Appealing

Although a lot of people would love to speculate on the Bitcoin price, most of those traders have no intention of physically owning cryptocurrency. New solutions need to be found to cater to these people. The introduction of crypto-derivatives offers a remarkably viable solution. It allows traders to “gamble’ on the Bitcoin price movements without buying cryptocurrency directly. 

Service providers have noted there is a genuine demand for these vehicles. The fluctuations of Bitcoin are notorious. It is this price volatility that makes crypto-derivatives a gambling operation, to some extent. That particular aspect has now drawn a lot of criticism from some UK government officials. They want to see this market be deemed illegal once and for all. That could hinder the growth of cryptocurrency in the UK, although nothing has been decided as of yet. 

The Proposal

One has to keep in mind the crypto-derivatives industry is quite vast. It spans options, futures contracts, and other similarly oriented trading vehicles. As Bitcoin is not officially regulated in the UK at this time, it is only normal investors with an appetite for risk explore these options. That being said, these products do not adhere to strict derivatives guidelines present in this region, which creates a fair bit of friction. 

Under the current proposal, the Financial Conduct Authority seeks to introduce a blanket ban on crypto-derivatives sold to retail investors. This would make any Bitcoin-related trading vehicle – except for BTC itself – illegal in the United Kingdom. A bit of an odd choice as regulating this industry should have more beneficial long-term effects for all parties involved. A blanket ban is never the answer in any financial sector. For now, the proposal has yet to be voted upon. A decision is expected to be made public by Q2 2020 at the latest.

Bitcoin in the UK

It is not easy for cryptocurrencies to gain any form of mainstream traction. That situation is no different in the UK, despite it being a more open-minded region regarding such innovative tools. One does have to wonder if a blanket ban on crypto-derivatives would have real effects on the Bitcoin price. After all, appeasing retail investors has never been a high priority among the Bitcoin faithful. 

Article Produced By
JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers.

https://nulltx.com/crypto-derivatives-could-become-illegal-in-the-uk-next-year/

Heiko Closhen, Entrepreneur

Zimbabwe Bans Mobile Money and Foreign Pricing

Zimbabwe Bans Mobile Money and Foreign Pricing

                                 

Numerous countries find themselves in major financial peril these days.

Zimbabwe is one of the many African countries in dire need of a change. Recent regulations imposed by the central bank continue to limit financial options for both companies and individuals alike. These new guidelines do not bode well for Bitcoin adoption in the country either, as the currency won’t be welcome, by the look of things. 

Zimbabwe Needs Help

To most people, African economies are of little concern. Everyone knows most of these regions are very poor and there is a severe lack of financial stability. Several countries have tried to remedy the situation through various means, but they often fall short. Even Zimbabwe‘s venture of introducing a domestic dollar has not seen great success whatsoever. The situation goes from bad to worse on a monthly basis, resulting in unfavorable regulatory measures.

More specifically, the largest industry of sending money in the country has now been banned. Consumers and corporations can no longer use mobile money in any shape or form. All operators of mobile money services have been shut down effective immediately. No one is allowed to pay out cash at this time, and it seems unlikely that the situation will change later this year. It is a stop-gap measure which will potentially do a lot more harm than good. 

FX Rates and Foreign Pricing

The crackdown on mobile payments is only part of the problem in Zimbabwe today. The reserve bank has also made it illegal for corporations to price goods and services in any foreign currency. While that decision could make sense in a twisted way, it will make the country less appealing to foreign investors. It is a very strange measure which has been in effect for several days now, albeit it is met with a fair bit of criticism.

Regarding the foreign exchange rates in the country, the reserve bank introduced an artificial spread ceiling. More specifically, dealers and bureaux de change can offer an exchange rate for the Zimbabwe dollar which deviates by up to 5%. This is down from the 7% spread which was introduced by the same institution just two weeks ago. This further confirms the Zimbabwe dollar is a failed effort to stabilize this economy under the current circumstances. Effectively making life more difficult for everyone is not a solution either, yet that will be the result of the current measures.

What About Bitcoin?

As the Zimbabwean central bank continues to clamp down on anything that isn’t domestic currency, it seems unlikely that Bitcoin will make any sort of impact in the future. In fact, it seems to be a matter of time until Bitcoin and other cryptocurrencies are officially banned in this country. Not the development enthusiasts have been looking for, but it is entirely to be expected. 

Article Produced By
JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers.

https://nulltx.com/zimbabwe-bans-mobile-money-and-foreign-pricing/

Heiko Closhen, Entrepreneur

SimpleFX adds Monero and Ethereum Classic accounts

SimpleFX adds Monero and Ethereum Classic accounts

                              

The award-winning global mobile-friendly trading platform now offers accounts in 22 different currencies

(including seven cryptocurrencies). SimpleFX has just released Monero and Ethereum Classic transfers. Just like other crypto accounts, they are available free of charge. Now SimpleFX traders can deposit and withdraw money using seven different cryptocurrencies: Bitcoin, Bitcoin Cash, Dash, Ethereum, Ethereum Classic, Litecoin, and Monero.

Broker for the new generation of traders

SimpleFX was one of the first CFD brokers that offered cryptocurrency accounts and has been supporting cryptocurrency projects for years.

SimpleFX wrote in a statement,

“Our mission is to make the most of the cryptocurrency and blockchain opportunities. We believe in the community and want to give the users a broad choice of transfer services. This is the cryptocurrency spirit we have always believed in.”

The fast-growing broker with over 200,000 active traders worldwide aims at being the go-to app for the new generation of mobile-first traders. SimpleFX launched a completely new version of the WebTrader application and since then has introduced several groundbreaking features focusing on social trading, financial education and services for their affiliate marketing partners.

Profitable trades for everyone

SimpleFX demo accounts are fully functional and the live accounts can be funded with any amount as there are no minimum deposits. Thanks to easy and secure payments that can be performed in both fiat money and cryptocurrencies, everyone can access and benefit from trading with low spreads. SimpleFX offers an attractive 1:500 leverage, which opens profit opportunities to the less affluent traders. At the same time, easy stop-loss feature and negative balance protection make SimpleFX a secure tool for both experienced and novice traders.

The Best Trading App 2019

SimpleFX WebTrader won the competition for the best trading app during the Finance World Expo Summit 2019 that took place in Switzerland. The experts appreciated SimpleFX WebTrader for:

  • Great usability on mobile devices
  • Remarkable speed and reliability
  • Responding to the user needs with new features
  • The strong and growing community of users.

SimpleFX growth accelerated at the end of 2018 despite the downtrend in cryptocurrency markets thanks to the enthusiastic reception of the SimpleFX WebTrader 2.0 and the partnership with Unilink.io affiliate marketing software.

Article Produced By
The Editorial Staff

https://www.investinblockchain.com/simplefx-adds-monero-and-ethereum-classic-accounts/

Heiko Closhen, Entrepreneur

Investing In Cryptocurrencies 101: A Beginner’s Guide

Investing In Cryptocurrencies 101: A Beginner’s Guide

                                Investing In Cryptocurrencies

Investing In Cryptocurrencies 101

Before talking about investing directly, we need to talk about the historical perspective of cryptocurrencies that will help you more in appreciating this invention.

History Of Cryptocurrencies

This goes back to the global 2008 Financial Crisis and when you talk about it, you can’t avoid without mentioning Bitcoin. In the month of October 2008, a paper was published on The Cryptography mailing list by an anonymous guy under the pseudonym “Satoshi Nakamoto“. Until today, the real identity of Satoshi Nakamoto is unknown but there are some fun facts on Satoshi Nakamoto which you can read here. Bitcoin was invented to put a full stop to insidious modern day banking and to create an alternative for people who wanted to opt out of the banking system. It was not a mere coincidence that Satoshi created and announced Bitcoin just after the financial crisis of 2008. In my opinion, and in the opinion of several other tech-economists, it was an all-out attack on the central banking system, a system that has become incompetent as well as insidious.

Satoshi Nakamoto-labeled text on the Bitcoin genesis block clearly indicated that after the 2008 bailout of banks, the crisis would hit soon again. The text of the label was “03/Jan/2009 Chancellor on brink of the second bailout for banks”. Bitcoin was actually created to provide people the alternative to modern day banking and saving them from the inflationary policies of corrupt governments. It was also created to show the world that decentralized trust can be created if backed by solid mathematical models – cryptography. Hence, Bitcoin, the world’s first cryptocurrency, was created. Since then, this space has progressed by leaps and bounds. Today, we have more than 1500 cryptocurrencies around us. If you don’t trust me, take a look at the number of coins listed on CoinMarketCap.

Get Your Mind Set For A Roller-Coaster Ride

Important: Crypto isn’t for the weak hearted. Don’t blame me later for not warning you. If you are getting into the crypto world, be prepared for a roller-coaster ride because it is a wildly volatile asset class. If you can’t handle a drop of 80% and then ride a wave up to 200-300%, this is not the place for you. Also, if you think you will reap benefits to the tune of 300-400% on your investment in a matter of days, you are grossly mistaken. There are no guarantees, and a lot will depend on your knowledge, risk appetite, and luck.But you know what, I deliberately missed one year: 2014. In that year, Bitcoin prices plummeted, incurring a 62% loss to investors. Also, at the Ever since the start of 2018, Bitcoin has lost its 69% value. This is just to give you a fair idea of what you are getting into.

Never Invest More Than What You Can Afford To Lose

That is the basic rule of any investment. Never invest more than what you can afford to lose. I am saying this because I have witnessed first-hand the wild volatility of this market and know quite a few people who have a lost a lot by investing more than what they can afford to lose. If you don’t follow these basic investing principles, you may end up like some of these people: This all not to scare you. Instead, this is to warn you about the wrong mindset people have which results in losing a lot of money.

Don’t Fall For Scams

Usually, people are lured by the fact that crypto is a get-rich-quick scheme and there would be LAMBOS (a funny acronym used for Lamborghinis in crypto space). But is that really true? Yes, it is. Early investors have already made a huge amount of money. And out of these super rich guys, some will launch their own crypto MLM scams just like Amit Bhardwaj, who scammed many people of millions of dollars. That’s why you need to learn how to discern common cryptocurrency scams and invest only in good coins. (Read: 7 Most Common Types Of Cryptocurrency Scams & Tips to Avoid Them) This brings us to the next topic of finding coins that have a use case as well as decent chances of price appreciation.

Only Invest In Unicorn Coins

Do you know our habit?

We don’t invest in coins that we haven’t researched. Having said that, we don’t gamble and always do a thorough fundamental analysis of prospective coins that we think are worth buying/selling. And so far so good, all the coins that we have covered on CoinSutra are doing pretty well. That doesn’t mean you should blindly follow us as we are not your investment advisors. But we can give you a head start in the right direction. So far we have covered more than 20 cryptocurrencies that we believe have a good use case. Here they are:

Find Out Reliable Exchanges If You Don’t Want to Lose Your $$$

Fake and unreliable crypto exchanges are the most common cryptocurrency scams you will see happening in this space. Also, you will find that exchanges without proper security measures are sure to get hacked sometime or the other. Here are the testimonials of the top 5 Biggest Bitcoin Hacks Ever that speak for themselves.

Confused?

Well, anyone would be because exchanges are the first point of contact from where we buy/sell cryptocurrencies. That is why one needs to pick them carefully. For this task, you can rely on CoinSutra completely as we thoroughly vet crypto exchanges before using them ourselves and recommending to our audience. Here is the recommended list of exchanges:

  1. Binance: Offers mobile app and probably the fastest growing exchange. If you need to pick only one, this is the best and #1 in 2019.
  2. Bitmex: The whale of cryptocurrency exchanges. You can do margin trading if that’s your thing.
  3. KuCoin: One of the strongest exchanges that also offers a mobile app. They have been constantly updating their mobile app to make it one of the best in the industry.
  4. Gate.io: Many new cryptos can be found here. Unique approach and something you should sign up for in 2018. Also offers mobile app just like KuCoin and Binance.
  5. Changelly: Perfect for quick crypto exchange. Easy to use and great for beginners.
  6. Bittrex: Another high-quality exchange with lots of coins.

For Buying cryptocurrencies using credit/debit card.

  1. CEX: My favorite
  2. Changelly: Reliable
  3. CoinMama: Old but gold

Now that you know where you can get your cryptocurrencies, it makes sense in talking about what you can do with these to maximize your profits.

Profit Making Strategies In Crypto

Once you get hold of your cryptocurrencies depending upon its category you can do a lot many things to maximize your profits. Some of these strategies are:

#1. Buying & HODLing

#2. Buying & Holding Cryptocurrencies For Dividends

#3. Stake Cryptocurrencies

#4. Run Masternodes

# 5. Day Trading Cryptocurrencies

# 6. Airdrops: Cryptocurrencies Airdrops- Everything You Need To Know

#7. ICOs (beware of ICO scams): 5 Tips For Beginners Before Investing In ICOs

#8. Mining (Not feasible, initial investment high)

There are various methods of earning profits by investing in cryptocurrencies, and the same has been discussed in detail in our guide Top Ways To Earn Money From Cryptocurrencies.

Last Rule:

Lazy Enough To Ignore Crypto Security: Better Don’t Invest

If you are too lazy to follow the basic standards of online digital security, crypto isn’t your field.

  • Have good HD wallets
  • Use Hardware wallets like Ledger Nano X and Trezor
  • Have 2-FA authentication On Mobile Always
  • Password Managers like Dashlane
  • Firewalls & Antivirus
  • Seed key back-up
  • PIN code and Passphrase protection etc…

Also, always use the best wallets that allow you to control your funds and avoid using hosted wallets where you don own your private keys. It is so because:

If you don’t own your private key, you don’t own your cryptocurrencies.”

Also, learn about basic security tenants here, here and here because we have written these only for you. Portfolio Management Is A MUST In Crypto!!

All set:

Now, you have picked the winning projects, learned the security measures and picked the right wallet. But one thing is still left… Any guesses? Well, no prizes for this, as now the only thing left is how to track your investments and get insights on your profit/loss status as the market is always moving. That’s where you will need a crypto portfolio management tool.

  • Investors can use something as simple as CoinTracking 

There are plenty more, but these two will serve your purpose well. However, if you are extra choosy, don’t forget to take a look at our exclusive list of Best Cryptocurrency & AltCoins Portfolio Management Apps of 2019.

Self-Eduction Is The Key To Monetary Sovereignty

Crypto is all about your own monetary sovereignty by being your own bank. If you are not up for it yet, educate yourself more on this until you get it. Because if you get hacked or lose your money, no one else is to be blamed other than you. But that doesn’t mean you should get scared and do nothing. Instead, I would say start small and try to grow from there.

  • Be Up to Date

Always keep a tab on news and rumors because the crypto market is highly influenced by that. Doing this will help you make better strategies for buying/holding/selling particular crypto.

  • Don’t Over Do

Don’t spoil your health by sticking to your laptop for 24 hours. Instead, stick to a model and follow that regularly for successful investment habits.

  • Teach Others

Going back to why it started: It started to free people from the banks and traditional financial system. So if people don’t learn about this new approach to money, i.e. cryptocurrencies, it would probably fail. Therefore, extend a hand to help people learn about it so that cryptos can thrive.

  • Bonus****

Last, but not least, there are some bonus tools and services that will help you in monitoring price, development status, news, the potential of a coin, and volatility of various coins throughout your investment journey. And for this we have listed 6 Tools Every Cryptocurrency Investor Must Have From Day One, so go through it and share it with your friends.

Article Produced By
Harsh Agrawal

An award-winning blogger with a track record of 10+ years. An international speaker and author who loves blockchain and crypto world.After discovering about decentralized finance and with his background of Information technology, he made his mission to help others learn and get started with it via CoinSutra.Join us via email and social channels to get the latest updates straight to your inbox.

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Heiko Closhen, Entrepreneur

EU Crypto Victim Claims Expand

EU Crypto Victim Claims Expand

                                 

Today a third and find Request for Consultation requesting that at least €10 billion

in a compensation fund be set aside for victims of cryptocurrency related crime and fraud was lodged by crypto lawyer Dr. Jonathan Levy with the European Union Commission. The claim is on behalf of over 30 named victims with losses now totaling over €20 million. The EU’s position is that the fix for crypto crime and fraud is that all crypto currency wallets will be regulated by the beginning of 2020.  But not a penny set aside for victims who have lost billions of Euros to organized crime syndicates.

The victims’ lawyer lead counsel, Dr. Jonathan Levy rejects the EU position:

“Billions of Euros in crypto assets and cash are now in the hands of organized gangs of crypto criminals.  This is a national security issue.  The European Union Commission is ignoring its own rules on data protection, anti-money laundering and payment processing. Currently, 10-20 billion Euros in crypto assets are within reach and may be lawfully seized by the EU to compensate victims.  This is our immediate goal.”

Dr. Levy in today’s communication to the EU expanded the cryptocurrency victims claim process to include ICOs, crypto casinos, and cloud mining frauds. Levy also called the EU and UK government for ignoring previous complaints about ongoing frauds and bitmixing. He suggested the EU was deliberately ignoring its own laws and that the UK was aiding and abetting crypto crime through nonregulation and permitting the .IO top level domain (British Indian Ocean Territory) to become the world’s largest offshore money laundering center by volume. More importantly, Levy reminded the EU Commission that individual Bitcoin and Cryptocurrency “Full Nodes” were operating as unlicensed payment processors and transfer agents and thus personally liable for Bitcoin related claims. If the victims’ claims are not addressed, Dr. levy promises legal action against the EU Commission before the hard Brexit date of October 31, 2019.

Article Produced By
Dr. Jon Levy

Dr. Jon Levy is a solicitor who specialises in transnational law and private international law. He has represented the former president of the Republic of China, Chen Shuibian, the former Deputy Prime Minister of Yugoslavia, and numerous African entities and political figures. He has been engaged by clients against the US Office of Foreign Asset Control (OFAC), CIA, US Army, and UK Cabinet. As a litigator he specialises in transnational asset recovery and has taken up cases against the Vatican Bank, UBS AG, the Swiss National Bank, Emaar Corporation, and many others.

https://thebitcoinnews.com/eu-crypto-victim-claims-expand/

Heiko Closhen, Entrepreneur