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Bitcoin – A Secure Investment for the Future

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Bitcoin is an online digital currency, just like a dollar or a pound but with a few exceptions. Introduced by Satoshi Nakamoto in 2009, Bitcoin engages in a peer-to-peer payment system where no intermediaries exist and goods can be securely transferred between any two people on the planet. It is associated with a heavy network of computers and the unit of currency for the Bitcoin system (appropriately called Bitcoin) can be simply acquired by joining the vast network. Bitcoin provides a fast cheap and secure transaction alternative but few are willing to take the jump for it. So the one million dollar question still lingers, is Bitcoin a secure investment?

Bitcoin is only a few years old, an interesting creation that has awed many and for the record, has attained a name in the top financial charts. Its popularity has spanned and it has led some of the top businesses like Virgin Galactic to consider it as an acceptable source of payment. Bitcoin prices increase at rates of up to 10% and continue to dominate as the alpha of the market and this has made many interested in investing in it.

Another special feature of Bitcoin is that it does not have a central bank and neither does a central government control it. It’s a global currency and its creation and existence lies behind a complex and geeky mathematical algorithm that enables it to shadow government related mishaps. Cases of political instability and government absurdities that plunge the economy down to shame and lead years of investments in a currency down the drain do not occur in the crypto-currency system. This creates a secure and friendly investment opportunity with low inflation risks.

The Downside

With an ever-amazing upside, crypto-currency also has its downs. As mentioned, this thing is still taking baby steps; and with that comes great uncertainties. Bitcoin prices are volatile; currently increasing sharply and can fluctuate at 30% to 40% in a month. The world is still surprised at its emergence and there exists very few Bitcoin holders and Bitcoin. This leads to unanswered questions and cold fear among people as investing in a new unpredictable ‘gold mine’ can yield devastating effects. Its newness brings forth lack of regulations and scares off potential investors.

The enigma surrounding the Bitcoin system is a major factor to be considered. Anything can happen and everyone participating in the Bitcoin market is on a high alert. China in December 2013 eliminated the use of Bitcoin and this led to a drastic drop to its value from $1240 to $576 in just three weeks. Programmers also determine the functionality of this global currency and many question the thought of risking their finances for some group of geeks. This prevents many from venturing into the system and increases the risk of Bitcoin investment ever so highly.

Bitcoin

The Best Books on Cryptocurrency

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The Sovereign Individual ~ by James Dale Davidson and William Rees Morg

The Sovereign Individual is one of those books that forever changes how you see the world. It was published in 1997 but the degree to which it anticipates the impact of blockchain technology will give you chills. We’re entering the fourth stage of human society, shifting from the industrial to an information age. You need to read this book to understand the scope and scale of how things are going to change.

As it becomes easier to live comfortably and earn an income anywhere, we already know that those who truly thrive in the new information age will be workers who are not tethered to a single job or career and are location independent. The pull to choose where to live based on price savings is already more appealing, but this goes beyond digital nomadism and freelance gigs; the foundations of democracy, government and money are shifting.

The authors predicted Black Tuesday and the collapse of the Soviet Union, and here they foresee that the rising power of individuals will coincide with decentralized technology nibbling away at the power of governments. The death toll for the nation states, they predicted with extraordinary prescience, will be private, digital cash. When that happens, the dynamic of governments as stationary bandits robbing hard-working citizens with taxation will change. If you’ve become someone who can solve problems for people anywhere in the world, then you’re about to enter the new cognitive elite. Don’t miss this one.

Choice Quotation: “When technology is mobile, and transactions occur in cyberspace, as they increasingly will do, governments will no longer be able to charge more for their services than they are worth to the people who pay for them.”

Sapiens: A Brief History of Humankind ~ by Yuval Noah Harari

Whenever I want to impress on someone how good this book is, I ask: “Do you want to know the fundamental difference between humans and monkeys? A monkey can jump up and down on a rock and wave a stick around and screech to his friends that he’s seen a threat coming their way. ‘Danger! Danger! Lion!’ A monkey can also lie. It can jump up and down on the rock and wave a stick around and screech about a lion when there is, in fact, no lion. He’s just fooling around. But what a monkey cannot do is jump up and down and wave a stick around and screech, ‘Danger! Danger! Dragon!'”

Why is this? Because dragons aren’t real. As Harari explains, it is human imagination, our ability to believe in and talk about things we have never seen or touched that has elevated the species to cooperate in large numbers with strangers. There are no gods in the universe, no nations, no money, no human rights, no laws, no religions and no justice outside the common imagination of human beings. It is us that makes them so.

All of which is a rather magnificent preamble to where we are today. After the Cognitive Revolution and the Agricultural Revolution, Harari guides you into The Scientific Revolution, which got underway only 500 years ago and which may start something completely different for humankind. Money, however, will remain. Read this book to understand that money is the greatest story ever told and that trust is the raw material from which all types of money are minted.

Choice Quotation: “Sapiens, in contrast, live in triple-layered reality. In addition to trees, rivers, fears and desires, the Sapiens world also contains stories about money, gods, nations and corporations.”

The Internet of Money ~ by Andreas M. Antonopoulos

If the two books mentioned above help us to understand the historical context in which Bitcoin first appeared, then this book expands on the ‘why’ with infectious enthusiasm. Andreas Antonopolous is perhaps the most respected voice in the crypto space. He’s been traveling the world as a Bitcoin evangelist since 2010 and this book is a summary of talks he gave on the circuit between 2013 and 2016, all tightened up for publication.

His first book, Mastering Bitcoin, is a technical deep-dive into the technology, aimed more specifically at developers, engineers, and software and systems architects. But this book uses some choice metaphors to explain why you can’t ban Bitcoin or turn it off, how the scaling debate doesn’t really matter and why Bitcoin needs the help of designers to lock in mass adoption.

“When you first ride your brand new automobile in a city,” he writes, “you are riding on roads used by horses with infrastructures designed and used for horses. There are no light signals. There are no road rules. There are no paved roads. And what happened? The cars got stuck because they didn’t have balance and four feet.” But fast forward one hundred years and the cars that were once ridiculed are absolutely the norm. If you want to swim around in the philosophical, social and historical implications of Bitcoin, this is your starting point.

Choice Quotation: “Bitcoin is not just money for the internet. Yes, it’s perfect money for the internet. It’s instant, it’s safe, it’s free. Yes, it is money for the internet, but it’s so much more. Bitcoin is the internet of money. Currency is only the first application. If you grasp that, you can look beyond the price, you can look beyond the volatility, you can look beyond the fad. At its core, Bitcoin is a revolutionary technology that will change the world forever. Join.”

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How to Make Her Mine

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Times are gone when companies in the absence of Database need to collect the Data on purpose via recording the time-to-time Business transactions, customer’s purchases and customer’s returns and so on! Further, this database was considered as the primary source of forecasting the Business’s needful in future. On the contrary, upon the introduction of Web Data Mining Company that progresses the best Data Mining Services for the sole purpose of creating a Database (which is far bulky and informational) and then, the extraction of the Database for the creation of new information in the form of patterns, sets, correlations, and hierarchies. This categorized information assists in the creation of Value from Big Data in the form of new market trends, customer’s preferences and others. Here is how the application of Data Mining Strategies consequence in the creation of value-

“Management of Performance” matters when the Database is internal. Internal database refers to the kind of Data or information coming from the information put on the table by the Business’s employees itself. For an instance, transactions in the context of customers, inventory level, and other turnovers. Via Data Mining, the simple records present in the Business books can grant information comprising in-effective customer segment, stored inventory to cut off and others in the form of on reports, graphs, patterns, and forecast. Usage of the brand-new information may help the manager to make short-term and long-term executions.

In the episode of Best Data Mining Services, all better decisions come from the “Decision Science.” Indeed, decision science has been one of the most effective Data Mining strategies considered by Whirlpool in the year 2009 to enhance the customer satisfaction through exploring the customer’s real-time comments and reviews on social media platforms. Yes! Decision Science stands for the external database which is customer-generated. Decision Science, customer’s feedback in the form of reviews is studied to create utilizable information. These social Media Platforms more often involves Facebook, Twitter, LinkedIn, Instagram, Google+ and Pinterest. One of the most popular examples of Decision Science is “My Starbucks Idea programme.”

Data Exploration stands for the deep studying of Data considering statistics as the primary method. More often, the use of this strategy put on the table by Web Data Mining Company is to generate the hidden patterns and non-smoky cooking trends in the market. Whilst Data Exploration-predictions and patterns in the context of Customer’s behaviour are created on the basis of prior Business interactions with customers. As per the experts of Loginworks Softwares, the leading Web Data Mining Company, Data Exploration consequences in the upgrading of services, enhancement of selling behaviours and revision of email/SMS marketing content 60 percent of the times.

Summary: Three effective strategies for the creation of Value from Big Data by the application of Data Mining Services. These Strategies are-Data Exploration, Performance Management, and Decision Science. Social Media Analytics also play an essential role.

Author’s Bio: Loginworks Softwares is a top-notch Web Data Mining Company to grant several of Businesses a silver lining of Database with the purpose of expansion of their respective Businesses belonging to different industries.

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Boost Your Retirement Through Investing Into Cryptocurrency

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Across the world, human life expectancy has grown by leaps and bounds. Compared to the 1950s, it has shot up by 50% and comparison with 1980s it has increased by 30%. Long gone are the days when company-sponsored pension plans alone were sufficient to spend one’s golden ages in a relaxed and worry-free manner.

Today, with ascend other expenses like housing, education, healthcare and more, several people are finding it increasingly challenging to save for their retirement.

Unfortunately, the bitter truth is that people of all generations from baby boomers to millennials aren’t saving enough for their retirement. Saving is one of the most underrated worldwide epic crises.

“Retirement is complicated. It’s never too early or too late to start preparing for your Retirement.”

Thus, people are trying for alternate opportunities that provide them with higher returns in shorter span period. Traditionally, real estate, private equity and venture capital was wanted. Now, a new and more additional moneymaking and lucrative investment has joined the picture – enter cryptocurrencies.

Cryptocurrency Investments – For those who don’t want to place all their Eggs in one Basket

One of the biggest advantages of cryptocurrency investments is that it decouples your portfolio from reserve currencies. Say, if you live in the UK, then you’re bound to have shares of UK-based companies in your retirement portfolio, if you’re into equity. What will happen to your portfolio if the British pound were to crash? And given, today’s volatile political scenario across the globe, nothing is certain.

Therefore, cryptocurrency investments make the most sense. With digital currency investments, you’re effectively creating a basket of digital coins, that acts as an effective hedge or as a safe bet, against reserve currency weakness.

The average investor should allocate only a small portion of his/her retirement assets into crypto, due to its volatility. But, instability can cut back both ways – think back to the healthcare stocks of the 1950s and the tech stocks of the 1990s. The smart early investors were the ones who made it big.

Don’t get left behind or lose out. Include crypto in your assets to start building a truly, diversified portfolio.

Cracking the Wall – Build your Trust in Cryptocurrencies

One of the biggest and foremost hurdles most first-time crypto investors face is that they can not trust digital currencies. Many, especially people who are not tech-savvy or nearing retirement do not perceive what the promotion is all about. Sadly, they fail to realize and appreciate the myriad potentials of cryptocurrency.

The reality is that – Cryptocurrencies are one of the most reliable assets, backed with the latest technology. The blockchain technology that powers digital currencies makes it possible to trade immediately and indelibly without the requirement for third-party verification. It’s a peer-based system that is entirely open and runs on advanced cryptographic principles.

Retirement Planning Funds Should Work on Demystifying Cryptocurrencies

To build the trust and win the support of individuals, retirement planning funds must educate investors about the endless potentials of cryptocurrencies. For this they need advanced analytics that helps in providing reliable risk analysis, risk/return metrics and projections.

Additionally, investment firms can set up specialized cryptocurrency advisory services to help and guide new investors. In the coming years, one can expect several smart AI-based advisors to crop up on the scene – these will assist in calculating the right investments based on an individual’s time horizon, risk tolerance and other factors.

Human advisors can work along with these intelligent advisors and provide customers with personalized consultation and other suggestions as and when needed.

Need for More Visibility and Comprehensive Control

Retirement investors who are looking to add cryptocurrencies to their asset portfolio require more control and visibility as they experiment with this new asset. Look for platforms that let you combine all your assets in one place. An integrated solution that enables you to manage and balance all your assets including traditional ones like bonds and stocks with new asset classes like cryptocurrency wallets.

Having such a broad platform that supports all your assets gives you a holistic portfolio analysis, helping you make better and more informed decisions. Thereby, you reach the ultimate aim of saving for your goals faster.

Look for investment planning portals that also provide additional features like periodic contributions to cryptocurrencies at scheduled or unscheduled intervals.

Advances in Supporting Technologies for Cryptocurrency Investing

Cryptocurrency investing will become mainstream only when the supporting technology makes it possible for investors to seamlessly trade coins, even for new investors who aren’t aware of the know-how. Exchanging one digital coin for another, or even for fiat currencies and other non-tokenized assets must be all made possible. When this becomes possible, it will eliminate middlemen from the equation, thereby lowering costs and additional fees.

With maturation of technologies that support cryptocurrency investments and trading, the value of digital currencies will further increase, as the currency goes mainstream with broader accessibility. This means early adopters are in for a huge gain. As more and more retirement investment platforms integrate cryptocurrency, the value of digital currencies is bound to increase offering significant gains to early adopters like you.

If you’re wondering, whether such retirement investment platforms will take a few years to see the light of the day, then you’re wrong. Auctus is one such portal that is currently in its Alpha phase of launch. It’s a first-of-its-kind retirement portfolio platform that includes digital currencies. Users of Auctus can get investment advise from both human and AI-powered analytical tools.

For now, users can save for retirement using Bitcoins, Ethereum and several other digital currencies. Additionally, users can make use of the Automated rebalancing feature that lets them adjust their portfolio automatically using a set of preset rules.

This holistic approach ensures that users can achieve their retirement goals earlier by making smart and the right investment choices or decisions.

Final Thoughts – Cryptocurrencies are Not to be Ignored in your Retirement Portfolio

Yes, it’s true that cryptocurrencies are highly volatile. In fact, there are speculations on the internet that suggest that “cryptocurrencies are nothing but a get rick quick scheme” and the bubble is likely to burst sometime in the near future.

The uncertainty doesn’t mean that cryptocurrencies shouldn’t be a part of your retirement portfolio, even if you short investment time horizons. On the other hand, the current slump in the prices of cryptocurrencies in 2018 mean you’ve got a rare opportunity to build gains.

Greater trust, holistic and directly controllable investment management capabilities and advances in supporting technologies ensure that digital currencies make for an excellent investment choice to include in your retirement portfolio.

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TA: Ethereum Lacks Momentum But This Level Could Trigger Fresh Rally

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Ethereum

Ethereum extended its rally towards the $3,650 level against the US Dollar. ETH price is correcting gains, but dips are likely to remain limited below $3,500.

  • Ethereum started a fresh increase above the $3,600 resistance level.
  • The price is now trading above $3,500 and the 100 hourly simple moving average.
  • There was a break below a contracting triangle with support near $3,580 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could start a fresh increase as long as it is above the $3,500 level.

Ethereum Price Remains Supported

Ethereum remained in a positive zone above the $3,500 resistance zone. ETH was able to climb above the $3,600 level and the 100 hourly simple moving average.

The price even spiked above the $3,600 level, but there was no upside continuation. Ether traded as high as $3,652 before it started a downside correction. There was a break below the $3,600 level. The price traded below the 23.6% Fib retracement level of the upward move from the $3,343 swing low to $3,652 high.

There was also a break below a contracting triangle with support near $3,580 on the hourly chart of ETH/USD. The price is now consolidating near the $3,550 level. An immediate resistance on the upside is near the $3,580 level. The first major resistance is near the $3,600 level.

Source: ETHUSD on TradingView.com

The next major resistance is near the $3,650 level, above which the price might accelerate higher. In the stated case, the price may possibly rise towards the $3,700 level. The next key resistance could be $3,800. Any more gains could lead the price towards the $3,880 level.

Dips Limited in ETH?

If ethereum fails to continue higher above the $3,600 and $3,650 resistance levels, it could extend its decline. An initial support on the downside is near the $3,550 level.

The first key support is now forming near the $3,500 level and the 100 hourly simple moving average. It is close to the 50% Fib retracement level of the upward move from the $3,343 swing low to $3,652 high. Any more losses could lead ether price towards the $3,450 support zone.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is slowly moving in the bearish zone.

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

Major Support Level – $3,500

Major Resistance Level – $3,650

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TA: Bitcoin Starts Corrective Decrease, $53K Holds The Key

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Bitcoin

Bitcoin started a downside correction from the $55,700 zone against the US Dollar. BTC is correcting lower, but dips remain supported near $53,000 and $53,200.

  • Bitcoin started a downside correction from well above the $55,500 level.
  • The price is now trading above $53,000 and the 100 hourly simple moving average.
  • There was a break below a key bullish trend line with support near $53,100 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could correct lower, but the bulls are likely to remain active near $53,000.

Bitcoin Price Corrects Lower

Bitcoin price remained in a positive zone above the $52,000 resistance. BTC even broke the $55,000 resistance level and settled above the 100 hourly simple moving average.

However, the price failed to continue higher above the $55,700 zone. A high was formed near $55,770 before there was a downside correction. The price corrected lower below the $55,200 support level. The price even traded below the 23.6% Fib retracement level of the upward wave from the $50,365 swing low to $55,777 high.

There was also a break below a key bullish trend line with support near $53,100 on the hourly chart of the BTC/USD pair. An immediate support on the downside is near the $53,500 level.

Source: BTCUSD on TradingView.com

On the upside, an initial resistance is near the $54,500 level. The first major resistance is near the $55,000 level, above which the price could accelerate higher. The next major resistance sits near the $55,500 level. Any more gains could set the pace for a move towards the $58,000 level.

Dips Limited In BTC?

If bitcoin fails to clear the $55,000 resistance zone, it could continue to move down. An immediate support on the downside is near the $53,500 level. The first major support is now forming near the $53,100 level.

The next major support is near the $53,000 level. It is near the 50% Fib retracement level of the upward wave from the $50,365 swing low to $55,777 high. Any more losses could open the doors for a move towards the $52,500 level. The next key support sits near the $52,000 level.

Technical indicators:

Hourly MACD – The MACD is now moving in the bearish zone.

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

Major Support Levels – $53,500, followed by $53,000.

Major Resistance Levels – $54,500, $55,000 and $55,500.

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Meet The First Ever Polygon Ecosystem Index Token

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Meet The First Ever Polygon Ecosystem Index Token

Polygon continues to be a substantial force in DeFi. The protocol’s ease of use and lower fees have been major draws for developers, leading to a wide variety of new projects coming to life on the platform.

Meanwhile, the folks over at Amun Tokens are working on DeFi index tokens left and right. In June, the platform announced the launch of two index tokens, $DFI and $DMX, engaged in the Ethereum ecosystem. Given Polygon’s increased presence lately in DeFi, it was only a matter of time before the team at Amun unleashed a Polygon-based token as well.

That time has come, as Amun announced today their latest token headed to pre-sale: PECO. This token looks to encapsulate the best and brightest projects being built on Polygon.

Amun, PECO, & The Polygon Ecosystem

Amun released their Medium post announcing PECO today in collaboration with the Polygon Foundation and leading Polygon projects. The Foundation is providing $5M in MATIC tokens to seed the index’s launch, according to the Medium post, and many leading projects are providing seed capital for liquidity.

The token initially launches on October 19 and will start with 50% MATIC until the network matures further. Protocol tokens make up the remaining 50%; take a look at the initial PECO compensation on launch below:

 

As the Polygon network grows and develops, the PECO portfolio will be rebalanced monthly. PECO will be available on both Polygon and Ethereum, and early participants can earn up to an additional 30% bonus tokens in the pre-sale via airdrop.

1633656049 69 Meet The First Ever Polygon Ecosystem Index Token

Polygon (MATIC) has seen stable price movement in recent months, but has been slowly becoming a DeFi power player. | Source: MATIC-USD on TradingView.com

Related Reading | TA: Ethereum Is Primed For A Rally And Only One Thing Is Holding It Back

Amun & DeFi Growth

The Amun whitepaper cites the need for scalability in DeFi and looks to provide ERC-20 tokens that address an index of the top DeFi tokens available.

Earlier in the year, Amun unleashed DeFi index token $DFI, aimed to give investors exposure in “blue chip DeFi projects.” This allowed consumers to come to one token for a wide exposure of DeFi’s biggest coins, without incurring individual swap costs. Additionally, Amun released their DeFi Momentum Index, $DMX, which seeks to automate weights based price momentum calculated by a relative strength index. This index sought out momentum riders who “missed out on the last bull run.” Both indices were initially composed of eight tokens per index.

Amun is building out a wide breadth of DeFi exposure during what seems to be an ideal time. A Bank of America report this week cited DeFi’s growth and largely untapped potential, and Polygon and it’s subsequent platforms have been enormous growth drivers in DeFi.

Related Reading | Investors Expect Ethereum To Outgrow Bitcoin, According To CoinShares Survey

Featured image from Medium.com/amun-tokens, Charts from TradingView.com

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100 Million XRP of $107M Transferred in 6 Whale Transactions!

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100 Million XRP of $107M Transferred in 6 Whale Transactions!
  • 100 million XRP transferred between various exchange accounts.
  • Value of $107 million has been so far transferred.
  • All these have been transacted in just 6 transactions.

Recently, getting a notification regarding a whale alert is nothing new or a surprise though. It has become almost an everyday event these days. In spite of this, on October 7, 100 million XRP was transferred in just 6 transactions. 

XRP Whale Alert

According to the blockchain service, the Whale Alert, on October 7, about nearly 100 million XRP has been transferred. All these transfers are as usual anonymous. 

In addition, the information received is that, all these are not from the same account or crypto wallet. Also, the transfers were between accounts of different crypto exchanges.

Moreover, the total value of the XRP transferred amounts to about $107 million approximately. On the other hand, the whale alert shows that all these XRP transfers were done through only 6 crypto transactions. 

Furthermore, recently Ripple has also transferred about 20 million XRP from its own crypto wallets to the Bitstamp crypto exchange. However, just the starting of this year, this exchange banned XRP from its stables. 

Besides, being banned by the exchange, again transferring XRP to it, is now a mystery. Also, it is evident that XRP was banned upon the exchange due to the U.S Securities and Exchange Commission (SEC) filing a case on Ripple for XRP. 

The Bitter News for Ripple

Amidst all this, Ripple also undergoes a new trauma now. Just a few hours back it was officially announced that Moneygram and Stellar (XLM) have closed a deal with each other. 

In addition, the complete project from this partnership is expected to hit roads soon by the mid of 2022.

Moreover, it’s known very well that Stellar (XLM) has been Ripple’s competitor since the beginning. Owing to the fact that Stellar was actually developed by Ripple’s former developer.

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Investors Expect Ethereum To Outgrow Bitcoin, According To CoinShares Survey

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Picture of a gold Ethereum coin with computer code raining down behind it

Investor interest in Ethereum is no longer a novel phenomenon. The second-largest asset by market cap has seen more support with the rise of decentralized finance on its ecosystem. Applications of Ethereum have been the major drive behind the growth of the cryptocurrency and institutional and individual investors alike see the asset outgrowing number 1 coin Bitcoin in the coming years.

A recent CoinShares survey has echoed the sentiment that has been held by investors in the market for a while now. It showed that number of investors who believe Ethereum is set to outpace Bitcoin is over twice the number of investors who are bullish on the growth of bitcoin. Lately, investors have been moving out of their bitcoin positions in favor of ethereum, and the CoinShares survey shows that this might only be the beginning.

Related Reading | Umbrella Network Announces New Launch: Decentralized Oracles On Ethereum Mainnet

Investors Want Ethereum

The CoinShares survey shed light on investors’ sentiment around the top crypto projects in the market. When asked, 42% of respondents said that they saw the most compelling growth outlook for Ethereum. While 18% said that they saw a compelling growth outlook for bitcoin. The survey showed that Ethereum was regarded as the project to grow the most in the coming years.

ETH price settles at $3,600 | Source: ETHUSD on TradingView.com

This does not although take away anything from bitcoin. Blockchain structuring has allowed Ethereum to be at the forefront of one of the most important investment spaces in crypto; the DeFi market. The bitcoin blockchain is gearing up to compete in this space against the likes of Ethereum and Solana with the launch of smart contracts on the network. Expanding the crypto-asset’s utility beyond just its monetary policy.

Investors Reveal Reasons For Investing

When asked what the biggest motivator for investing in cryptocurrencies was, the top answer was surprisingly not the value of the assets themselves or even diversification. 35% of respondents said that they were investing in the market because the assets were speculative. Only 25% said they used cryptocurrencies as a way to diversify their portfolios. With about 15% investing for the value of the assets.

Respondents also said that regulation, restrictions, and volatility were the biggest hindrance to investing in the crypto market. Regulation also made the top when respondents were asked about the key risks associated with digital assets. A combined 58% said government bans and regulations currently pose the biggest threat to the digital assets market.

Related Reading | Last Resistance Before Ethereum At $5K? Expert Predicts Q4 In The Green

Despite growing interest from institutional investors, individual investors still dominate the cryptocurrency market. 45% of investors said they were invested in the market individually. While Europe and the Middle East possess the largest amount of domiciled funds, with about 70% saying their funds were domiciled in the region.

Featured image from Forkast, chart from TradingView.com
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Shiba Inu (SHIB) To Soon Destroy Dogecoin (DOGE)!

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Shiba Inu (SHIB) To Soon Destroy Dogecoin (DOGE)!
  • Shiba Inu (SHIB) surges up drastically this week.
  • SHIB reached a peak of $0.000035 just a few hours before.
  • SHIB will soon destroy Dogecoin and take its place.

A new member entering into the top ten crypto rankings is something which is not common. There ought to be competitions, one place up and back upon the top ten. However, entry of a completely new altcoin into the top ten is a rather rare event. 

Accordingly, on October 7th, witnessed such a similar event. The Shiba Inu (SHIB) which is actually a meme based coin, on other terms an exact copy of the Dogecoin (DOGE) has surged up in the rankings to the 12th place, straight from the 20. All owing to its total market capitalization on October 7, 2021. 

Stupendous Surges of SHIB

The SHIB has been quite promising, to be even more abrupt, actually it was a lot more than any could expect. Ever since May 2021, after witnessing its All-time-high, SHIB remained dormant for the next couple of months. And so, it completely started to sprung up out of nowhere totally unexpectedly since the beginning of October. 

Accordingly, by the end of the week, SHIB touched $0.000035, an epic high after a long time. The surge was standard upward axis graphs since October 1, such that even those who invested just a few days back, would have made a fortune by now. 

In addition to this, the overall market capitalization raised upto $14 billion on October 7. Also, this made the headlines as SHIB became the 12th upon the crypto rankings in terms of market cap. 

Moreover, the past week alone SHIB has witnessed a surge of a whopping 300%. Also, the overall surge compared to last year amounts to a mammoth 8000%.

Killing of DOGE

Despite being launched with the sole tag line of ‘DOGEKILLER’ at the time of launch, it seems it’s soon going to be a reality. 

In spite of all the surges, the major reason is from the drastic coin burns by SHIB. Also, at such a rate throughout the week, many crypto enthusiasts predict that SHIB will destroy DOGE and take its place soon!

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NZ Cryptopia Exchange Moves to Stage 2 of Its Claiming Process

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NZ Cryptopia Exchange Moves to Stage 2 of Its Claiming Process

Crypto hacking is one of the recent topics evolving in the town affecting the life savings of many users around the world. A lot of cryptocurrency exchanges have been caught up in this hacking losing millions of dollars in the market. However, digital currencies are gaining more popularity in the industry and are also being affected through scammers and hackers. 

Thus, Cryptopia, a well-known cryptocurrency exchange based in New Zealand was hacked in May 2019. In this case, the exchange lost multi- millions dollars and a large number of users were affected in this massive hack. Further, the Cryptopia team raised a claim in the court which is now heading to Stage 2 which is the identity verification process. 

Cryptopia’s Massive Hack

Honestly, the Cryptopia exchange did not expect such a huge loss affecting the lives of its valuable users. Surprisingly, the total users strength of Cryptopia trading platform is almost 900,000 connected around the globe. As the users were not ready to accept their assets’ loss, they directly fought in court for their properties. So on behalf of the users’ concern, the court announced a 4 stage process for this case to move forward. 

In regards to supporting the team, there were official updates given about the current status of the case plans. Notably the last notice was released in June 2021 stating the claim process is at stage 1. Thus, a solid number of users are following up the registration process successfully. And nearly, 55,000 users have been guided to the 4 stage process through our customer service team. 

Claims Four-Stage Plans

Initially, the clients have to claim their registration disclosing the account holder details and to raise a claim for their balance. The second step is the identity verification process where the submitted documents will be verified for quality work. Thirdly, it reflects the claim acceptance notice which agrees that Cryptopia will represent the due amount. Finally, after all these verifications, the assets will be transferred to the appropriate accounts. 

Hence the entire Cryptopia team was strongly supporting its users and guiding them through the efficient process. Further to enhance more crypto projects, Cryptopia community is planning to secure the cryptopia wallets to assist the transfer process of the assets. 

Cryptopia faced a worst time in the marketplace by going through many challenges. Besides, million dollar hack, the former employee of Cryptopia cheated nearly $250K of digital assets. The employee smartly made duplicate keys of the customer’s wallets and stole this huge amount. Now this is also an additional case filed in the court which will be commencing by the end of this month. 

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