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How to Trade Cryptocurrencies – The Basics of Investing in Digital Currencies

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Whether it’s the idea of cryptocurrencies itself or diversification of their portfolio, people from all walks of life are investing in digital currencies. If you’re new to the concept and wondering what’s going on, here are some basic concepts and considerations for investment in cryptocurrencies.

What cryptocurrencies are available and how do I buy them?

With a market cap of about $278 billion, Bitcoin is the most established cryptocurrency. Ethereum is second with a market cap of over $74 billion. Besides these two currencies, there are a number of other options as well, including Ripple ($28B), Litecoin ($17B) and MIOTA ($13B).

Being first to market, there are a lot of exchanges for Bitcoin trade all over the world. BitStamp and Coinbase are two well-known US-based exchanges. Bitcoin.de is an established European exchange. If you are interested in trading other digital currencies along with Bitcoin, then a crypto marketplace is where you will find all the digital currencies in one place. Here is a list of exchanges according to their 24-hour trade volume.

What options do I have to store my money?

Another important consideration is storage of the coins. One option, of course, is to store it on the exchange where you buy them. However, you will have to be careful in selecting the exchange. The popularity of digital currencies has resulted in many new, unknown exchanges popping up everywhere. Take the time to do your due diligence so you can avoid the scammers.

Another option you have with cryptocurrencies is that you can store them yourself. One of the safest options for storing your investment is hardware wallets. Companies like Ledger allow you store Bitcoins and several other digital currencies as well.

What’s the market like and how can I learn more about it?

The cryptocurrency market fluctuates a lot. The volatile nature of the market makes it more suited for a long-term play.

There are many established news sites that report on digital currencies, including Coindesk, Business Insider, Coin Telegraph, and Cryptocoin News. Besides these sites, there are also many Twitter accounts that tweet about digital currencies, including @BitcoinRTs and @AltCoinCalendar.

Digital currencies aim to disrupt the traditional currency and commodity market. While these currencies still have a long way to go, the success of Bitcoins and Ethereum have proven that there is genuine interest in the concept. Understanding the basics of cryptocurrency investment will help you go in the right direction.

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Need Cash? Here Are Some Solutions for Those With Poor Credit

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Those searching for a personal loan for poor credit have a few options to explore. Three of the most popular are credit cards, home equity loans and personal loans for poor credit. The obtained monies can be used for many reasons to include purchasing jewelry or upgrading a business. The type that’s best will depend on the intentions for use and personal financial state.

Here’s a bit about each type to help anyone make an informed decision when they decide to pursue a personal loan for poor credit.

Personal Loans

One can get a personal loan from most banks. As stated before, they can be used for most anything and are based on the ability to present proof of income as well as assets. Those assets have to bet worth the amount the person is borrowing. It’s a quick process for application when these things are present and accounted for and the applicant will find out within a few days tops if they are approved.

The main downfall is that interest rates are typically high around an average of 12%. The time limit for repayment varies but they’re usually no more than two years. Due to this, any very large amounts are not recommended to be financed this way as many have trouble paying them back in two years.

Credit Cards

Credit cards are another option when consumers are searching for a type of personal loan for poor credit. They are the same thing as securing a loan as they are also repaid later. The cards are easy to use because they are widely accepted for payment on most everything.

They are simple to apply for and can be upwards of $10,000. The application is reviewed fast, usually no more than two weeks. There are also those that are reviewed over the phone and approved in only minutes. It all depends on the card company. Terms vary greatly, so it’s important for whomever is applying to really look over all the fine print.

Within this print, there will be many things to take note of. At the top of the list are interest rate, yearly fees, overage fees and more. It’s been proven that debts pile up more quickly using credit cards than other types of loans because they are so available and easy to swipe at any retailer. For someone looking to a personal loan for bad credit, this may be an unwise decision and end up hurting credit not repair it.

Home Equity Line

The home equity line of credit is a smart decision. It allows homeowners the ability to borrow against the value of their home. It’s easy to figure how much someone can get. All they have to do is take the home’s market value against what is still owed on it. Many choose to not do this if they are planning on selling in the near future. However, if they are planning on staying there for the long haul it’s a great option.

Like other personal loans for poor credit the money can be utilized for whatever they please. Often they’re used for home improvements, consolidating debt and so much more. The interest rates are low to average and can be repaid over the course of up to 20 years in some circumstances. There aren’t many downsides to a home equity loan of credit; in some cases the interest is a tax deduction. That’s hard to beat!

The main negative to this type of personal loan for poor credit is that the person taking it on can sometimes get in a worse situation in regards to their mortgage. If there are two sources of income and they are well above the bills being paid each month the individual can probably repay the loan with ease. Otherwise, it may not be of any benefit. Especially of the consumer ends up losing a job or suddenly is unable to work. Plus, rates sometimes fluctuate.

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Top 5 Reasons To Choose Loans For Bad Credit With No Guarantor Option

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Long days of unemployment, unexpected expenses, medical emergency, and increasing debts can be the reasons why you have a financial problem in your life. It is a tough situation to be in and you have to find out a suitable financial alternative to combat it. Choosing a loan can provide you the desired funds but in most of the loan options, individuals should have a pleasant credit record to attract the funding. If you have a good credit rating, a lender is always ready to help you with quick financial assistance. Other than that, you need to search a lot for accessing a peace of mind.

Loans for bad credit with no guarantor can only protect you from a financial drench. These credits provide a way to get money quickly without credit check process and no obligation of having signature of a guarantor.

There are strong reasons to prove that why more and more people are inclining towards these loans. Here are the top five reasons:

Uncomplicated Registration Process

You do not need to follow a cumbersome application procedure when there is an urgent need of cash. In previous days, the loan applicants had to travel a lot at the lender’s office and provide many papers to seek approval of the lender. A lot has been changed now and the majority of loan companies have acquired an online registration method. Borrowers need to fill an online application form on lender’s website and submit it with mandatory details. Thereafter, the lender verifies all the details, and subsequently, transfers the cash to their registered bank account after a few hours of application submitted.

Credit Check is Not Involved

Applying for a bank loan require a pleasant credit record. The bad credit people do not have the financial credibility to show to their lender. Therefore, banks do not provide money to them because of the risk of losing repayments. On the other hand, the professional lenders are ready to provide the financial assistance without credit check procedure. Loans for bad credit with no guarantor are the best example in which there is no hurdle of a bad credit score.

No Need of A Guarantor

A bank loan always has the compulsion of bringing a guarantor to co-sign for the loan amount with the primary borrower. Sometimes, finding a responsible person to own the responsibility of loan repayments becomes tough, which is not the right thing to do during a financial emergency. Therefore, these no guarantor loans provide an opportunity to acquire money in a hassle-free way despite not having a co-signer.

Unsecured Option is Available

Do you not have collateral to secure the money that you have borrowed? You are still eligible for these bad credit loans because they are also available with an unsecured option. Borrowers do not require keeping their home, car or residential property as collateral to the lender. You may have to pay higher interest rates in comparison to the secured loans but the money you receive through unsecured loans helps you in a crucial time.

Relief from Hefty Repayments

You can only request a small amount to avail benefits of the loans for bad credit with no guarantor. People acquire these loans if there is a financial urgency in their life. The professional lenders understand the financial compulsions of these people and give them flexibility in the repayment schedules so that they can repay the borrowed sum as per the given schedule and improve their credit performance to attract more loans from the lenders.

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Federal Government Student Loans

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Federal government student loans are credit facility programs that have been put in place by the state to assist students in paying their fees. They are deemed useful as they have helped a lot of students get through their college education which they otherwise would have not without that money. The government gives this money through two programs which are the Federal Family Education Loan (FFEL) and the Direct Loan program.

One can only apply for either of the two. There is need to understand how the two programs work, since the repayment plans may differ slightly from each other. However, eligibility rules and regulations are all the same for both programs. A direct credit facility is usually funded strictly by the state. The FFEL on the other hand is offered by banks and other credit lending institutions that are in the private or the public sectors.

The FFEL has its own advantages in that, the money can be used to do other personal stuff. The direct one, as the name suggests, goes directly into tuition fees. The question that many students are faced with is how to access either type of the credit facility. Well, it begins by obtaining a FAFSA form, which you fill out and send back for processing.

Before the money gets to you, your school has to approve your eligibility. You then sign a promissory note, which is a legal document and which must be honored in due time. On this note, you can find the terms, rules and regulations under which the credit facility is extended to you.

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Pre-Qualified or Pre-Approved?

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Before any professional real estate agent or broker even LOOKS at you, they’re going to want (Nay require) you to have your financing already in place. The seller they represent, whether that be an individual, couple, bank, trust, or investor, your offer WON’T even be looked at without a letter from a lender. That means, bank, mortgage banker, mortgage broker, credit union or other acceptable source of funding. (Trust funds, annuity, insurance settlement, etc.)

Which brings us to the answer to the question: “Pre-Qualification” or “Pre-Approval”.

Best answer for you to be taken seriously – Pre-Approval trumps ALL other forms. This means you’ve actually APPLIED for and received loan approval. It means a formal application and all supporting documentation relative to your job, residence and savings have been verified. It means your full credit report has been retrieved and analyzed by an underwriter for layers of risk associated with carrying a mortgage. In essence, it means you have a “credit card” with a predetermined limit. It means you are a “cash buyer”. It means, you’ve done your homework and are considered GOLD in the eyes of anyone you present an offer to purchase to. You have reversed the tables and are now in control. NOT the seller, NOT the agent and NOT anyone else. You have the “thing” everyone wants. When you have what everyone wants, you’re the boss.

So, what then is “Pre-Qualification”? AKA a “PQ”.

Toilet paper. Garbage. Refuse. $1.00 a gallon gasoline.

A PQ is nothing more than a piece of paper issued by who knows, which states you’ve been interviewed by a “lender” or “Loan officer” and they’ve looked at your income and you’ve told them of your expenses and based on their calculations, you qualify for a loan of “X” dollars. No credit report. No job or savings verifications. No professional underwriter.

So, if you’re serious about buying a home, which should you have in your hand?

If you’re a home seller, which buyer are you going to take seriously?

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TA: Ethereum Regains Strength, Why $3,200 Is The Key For More Upsides

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Ethereum

Ethereum started a steady increase above $3,000 against the US Dollar. ETH price must clear the $3,200 to continue higher in the near term.

  • Ethereum started a strong increase from the $2,750 support zone.
  • The price is now trading above $3,000 and near the 100 hourly simple moving average.
  • There was a break a major declining channel with resistance near $2,925 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair must surpass $3,175 and $3,200 to continue higher in the near term.

Ethereum Price Is Gaining Momentum

Ethereum found a strong support near $2,750 and started a fresh increase, similar to bitcoin. ETH broke the $2,880 and $2,950 resistance levels to move into a positive zone.

There was also a break a major declining channel with resistance near $2,925 on the hourly chart of ETH/USD. The pair settled above the $3,000 zone and near the 100 hourly simple moving average. It gained traction and climbed above the $3,100 level.

Ether price is now facing resistance near the $3,175 zone. It traded as high as $3,165 and is currently correcting lower. An immediate support sits near the $3,065 level. It is near the 23.6% Fib retracement level of the upward move from the $2,740 swing low to $3,165 high.

Source: ETHUSD on TradingView.com

On the upside, an immediate resistance on the upside is near the $3,165 level. The first major resistance is near the $3,175 level. The main breakout zone could be near the $3,200 zone. A close above the $3,200 resistance could push the price further higher. In the stated case, the price could rise towards $3,320.

Dips Supported in ETH?

If ethereum fails to continue higher above the $3,165 and $3,200 resistance levels, it could start a downside correction. An initial support on the downside is near the $3,065 level.

The next major support seems to be forming near the $3,000 level and the 100 hourly simple moving average. Any more losses might call for a test of the 50% Fib retracement level of the upward move from the $2,740 swing low to $3,165 high at $2,950. If ether fails to stay above $2,950, it could resume its decline in the near term.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is slowly losing pace in the bullish zone.

Hourly RSIThe RSI for ETH/USD is now well above the 50 level.

Major Support Level – $3,065

Major Resistance Level – $3,175

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Finally! WallStreetBets Indulges in Bitcoin (BTC), Ethereum (ETH) and Other Cryptos!

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Finally! WallStreetBets Indulges in Bitcoin (BTC), Ethereum (ETH) and Other Cryptos!
  • Despite a long wait, finally WallStreetBets enters into the cryptocurrency industry.
  • Discussions to be mainly focused on Bitcoin (BTC), Ethereum (ETH) and other prominent coins.
  • Discussions regarding scams, predictions and crypto fanning are not allowed. 

Even a random novice into the stock market industry will be knowing the WallStreetBets! The WallStreetBets is a subreddit platform which is vividly into all discussions regarding the stock market. In addition, the WallStreetBets are a vital reason for the stocks of GamStop to spike up profusely, recently. 

However, almost everyone who is into the WallStreetBets so badly wanted them to start discussions upon the cryptocurrencies too. Yet, the WallStreetBets has been avoiding it and once even strictly announced that crypto discussions wouldn’t take place. 

On the contrary, a few days back on September 22, the WallStreetBets (WSB) finally gave out officially regarding their crypto discussion entity.

WallStreetBets Views

In spite of their much awaited and epic entry into the crypto industry, many are eagerly on what crypto the discussions would start. Moreover, the expectations on WSB into cryptocurrencies is extreme though. 

Furthermore, WSB terms that their new crypto entity will be by the same team, by the same people and by the same system and protocol as that of their stocks. 

Amidst all this, WSB does put up certain limits and restrictions regarding what to be discussed and what not too. They tend that these rules and regulations are necessary for them to maintain their standards. 

On the other hand, people are expecting so much on WSB when it comes to cryptos. This is because the GameStop was in fact absolutely nothing at start , but with the WSB, it is now at its all time high. This in fact, no one ever even dreamt of!

Crypto Rules of WSB

Besides the expectations, the WSB is so strong in maintaining their standards. Accordingly, they have devices with certain rules and regulations upon the cryptocurrency discussions. 

In addition, one of their rules depict not to discuss any sorts of market bear or bull, scams and smart contract schemes etc. 

Moreover, they tend to stick to their discussions with renowned coins such as the Bitcoin (BTC), Ethereum (ETH), the Dogecoin (DOGE) and so on. 

Furthermore, they tend to concentrate more upon recent hot trends like the China crypto ban, developments of Solana (SOL), and further on. 

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TA: Bitcoin Forms Bullish Pattern, Why BTC Could Rally above $45K

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Bitcoin

Bitcoin price stayed above the key $40,750 support zone against the US Dollar. BTC is rising and it could soon rally above the $45,000 resistance.

  • Bitcoin started a recovery wave above the $42,800 and $43,000 resistance levels.
  • The price is now trading above $43,000 and the 100 hourly simple moving average.
  • There was a break above a connecting bearish trend line with resistance near $42,400 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could accelerate higher once it clears the key $45,000 resistance zone.

Bitcoin Price Starts Fresh Increase

Bitcoin price struggled below the $43,000 level for a few sessions. BTC declined below $41,000, but the bulls protected the $40,750 zone. There were two attempts to clear $40,750, but the bears failed.

As a result, the price started a fresh increase and it seems like it has formed a double bottom pattern near the $40,750 level. It is rising and it has cleared the $42,000 and $42,800 resistance levels. There was also a break above a connecting bearish trend line with resistance near $42,400 on the hourly chart of the BTC/USD pair.

Bitcoin cleared the 50% Fib retracement level of the downward move from the $45,153 swing high to $40,750 swing low. It is now trading above $43,000 and the 100 hourly simple moving average.

Besides, it is consolidating near the 76.4% Fib retracement level of the downward move from the $45,153 swing high to $40,750 swing low. On the upside, an immediate resistance is near the $44,800 level. The first major resistance is near the $45,000 level.

Source: BTCUSD on TradingView.com

A close above the $44,800 and $45,000 levels could start a steady increase. The next major resistance is near the $45,500 zone, above which the price could rise towards the $46,200 resistance.

Dips Limited In BTC?

If bitcoin fails to clear the $45,000 resistance zone, it could start a downside correction. An immediate support on the downside is near the $43,600 level.

The first major support is near the $43,200 zone and the 100 hourly simple moving average. Any more losses could lead the price towards the $42,000 support zone in the near term.

Technical indicators:

Hourly MACD – The MACD is slowly gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $44,600, followed by $43,200.

Major Resistance Levels – $44,800, $45,000 and $45,500.

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London College Student Been Mugged off $98k Bitcoin (BTC)

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London College Student Been Mugged off $98k Bitcoin (BTC)
  • A London college student gets robbed off $98K worth Bitcoin (BTC).
  • A gang of eight gangsters robbed the student threatening him with knives.
  • Despite such hideous crimes, the police failed to capture the thieves. 

This piece of news is quite an interesting one, but not to offend anyone though. However, it’s vivid that all crypto related crimes are usually cyber ones, but this is the first time as a writer I am coming across a live one! 

About the start of this year, a freshman got mugged at knife point by a gang of eight thieves. True to the fact, these thieves were not after money or other assets, but instead for Bitcoin (BTC). The incident took place at the University of Kent, London.

The BTC Mugging

A freshman was about to start his college in the University of Kent, full of many dreams and positivity. However, all his postivesness was short-lived. About, just 5 days remaining for him to start his course, the freshman was talking to one of his school friends about cryptocurrency and other such related stuff.  

Furthermore, at the end of the conversation, the school friend said a few of his friends from East London will be visiting him soon. In spite of this, the freshman got quite suspicious and scared. 

Moreover, the very next day, a gang of about eight anonymous people came to his dorm room. In addition, all had knives with them and threatened the freshman to reveal his crypto wallet passwords and wallet addresses. 

As a result, terrified by the act, the freshman handed over his passwords and wallet addresses. Once the thieves got what they wanted they left immediately and along with them BTC worth $8.2K. 

Despite all these events, the freshman ran out to the camp security , then the police who however did not arrive at the scene though.

The Action of Police

In spite of this whole incident, the mother of the freshman expressed her agony. The mother reveals that no proper action was taken by the police and the police did not arrive at the crime scene that day. 

In addition, the mother claims that the University of Kent took no proper action, and just simply shifted the dorm room of the freshman to a more secure campus. 

Furthermore, it’s been about nearly eight months since the incident happened. Yet, the police too have not concluded anything on the case. Also, at present the case has been closed without any consent. 

Moreover, now the value of BTC lost by the freshman accounts to about more than $98K.

In spite of all this, the mother of the freshman warns other parents and fellow freshman students that this practice of mugging freshman , known as the ‘Fresher’s Fishing Week’ is profuse in London. Freshmen in London have to be safe and secure during those times!

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GoldFinX (GIX) Skyrockets 1674% In A Day After New Partnerships

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GoldFinX (GIX) Skyrockets 1674% In A Day After New Partnerships