Tag: Crypto

All crypto related articles are found here. Educative, informative and written clearly.

  • Cannabis VS Bitcoin Both Are the Two “Sexiest” Plays.

    Cannabis VS Bitcoin Both Are the Two “Sexiest” Plays.

    Cannabis VS Bitcoin
    Cannabis stocks just like bitcoin stock can be hot investment choice these days

    By Guy Avtalyon

    If you have a dilemma in selecting the stocks, cannabis vs bitcoin, this exactly you have to read. Cannabis shares are a temporary hum. Wait! Didn’t they say exactly the same about Bitcoin?

    Traditional Wall Street and media gatekeepers are late.

    The fact is that Bitcoin lacks a time-tested business model and fundamental backing, and it pays no dividend. The other fact, marijuana is illegal in almost every country, putting the business model in jeopardy.

    Pot stocks are more tangible speculative investments, traded and regulated on recognized stock exchanges, but still subject to a variety of market and regulatory risks. We know that advisors can caution their clients on the risks of investing in cannabis stocks, and the risks are there at current merits. It was the same in the case of Bitcoin.

    Cannabis industry

    But the cannabis industry may offer trace to the future of Bitcoin. Because despite their different paths, the crypto and cannabis are siblings. Why? Just spend a few minutes on Reddit pages committed to trading, Bitcoin, and cannabis and you will see similarities of the group. According to TD Ameritrade Inc., trading in pot stocks is superiorly done by millennial-aged males. The stats for crypto look almost the same.

    We are witnessing an explosion of interest in cryptocurrencies, cannabis stocks, and ETFs. And particularly from millennials. What do younger clients need? They love technology. They want to be educated investors, that’s why they are in need of education. They’re younger in their investing and trading careers. But they know what they want. They want to trade 100 shares of stocks at the table in the restaurant using some bot. They don’t want to miss the boat.

    Cannabis vs Bitcoin

    If you’re a  long-term investor type who’s not at all interested in trading, then you’re on the right track to becoming a wealthy investor over the long term. Sticking with such a reasonable investment strategy can be tough, however,  especially if you constantly hear about how a friend of a friend of yours got rich overnight by investing in Bitcoin or Canopy Growth (TSX:WEED) (NYSE:CGC) stock.

    You can ignore the hype, as it has nothing to do with you. It’s difficult to tell the difference between a bubble and an actual paradigm shift that could lead to massive riches over the near term.

    Today, cannabis stocks and Bitcoin are the two “sexiest” plays.

    While the word “bubble” has been thrown by some experts, other equally qualified, are on the other side and are thinking “opportunity of a lifetime.” Being on the right side isn’t a matter of how clever you are. You can find a lot of examples of how some very smart guy has fallen as a victim on the wrong side of the “sexy play” of his time.

    When it comes to subjects like the rapidly emerging rising cannabis market or blockchain-based cryptocurrencies, it’s hard to know what you’re dealing with as an investor. Nobody really knows how much new entities will act in the public markets over a long period. Attempts to make comparisons to events that happened in the past can make some sense but can’t help a lot.

    Neither cryptocurrencies nor cannabis are suitable for conservative investors. It is for visionaries, for those who can perceive the future and recognize the chances. Set a limit and stay within it.

    There are many people in the crypto industry believing in a bright future. As well as there are supporters of the legalization of cannabis. Technology companies, for example, SinglePoint and POSaBIT, are working to create a payment method for dispensaries and consumers using bitcoin. Recently, some cryptos emerge specifically for cannabis transactions.
    This isn’t the first time that stocks in a hot niche have risen. We all know what happened with bitcoin stock a year ago. The companies specializing in the crypto have had fantastic gains.

    Some investors never look back at overhyped fields once they aren’t trending, but investors who invested hard-earned money into most popular stocks usually learn the harder way what results can be.

    Currently, a limited number of marijuana stocks is accessible to most investors. We’ve seen some massive moves in marijuana stocks. Those gains stem from the fact that investors who want to invest in marijuana have limited options available to them.

    Why cannabis vs bitcoin?

    The same case we already saw with many Bitcoin stocks.

    In 2017, the top-performing Bitcoin stocks have less liquidity than many others. They stood very low on that list. But it reversed. In 2018, bitcoin declined in its volatility.
    Of course, speaking about cannabis stocks we can expect winners, but we can’t be sure where to expect. Maybe cannabis investors could learn something from the bitcoin incredible boost in the past. Perhaps the same could occur. Sometimes, success may occur in unexpected places. As an investor in cannabis stocks, just be ready to see the secondary effects. Try to recognize how they can influence the companies that are not always obviously related.

    Investors want to get rich from cannabis stocks, but past investing crazes and experience with cryptos have often left people wishing they hadn’t fallen for the allure of these markets. You can avoid repeating those mistakes and improve your chances of being successful with your investments in the long run. Just get more knowledge, learn permanent, test, and measure everything twice.

     

  • Why now Bitcoin (end of 2018, after major drops)?

    Why now Bitcoin (end of 2018, after major drops)?
    The simplest answer is why not, but here is a more complex one.

    By Guy Avtalyon

    Why now Bitcoin? Honestly, I did not meet statistics and exact figures on this topic. But in 2017 the number of searches in the Google search engine on the topic bitcoin – increased by 450%, compared with the previous year.

    The last time such a large survey was conducted in the USA, back in 2013 by the firm On Device in preparation for a London conference. At that time bitcoin awareness by Americans was about 25%.

    By 2018 bitcoin awareness has jumped by more than twice that number according to Survey Monkey and Global Blockchain Business Council. And though bitcoin acknowledgment is growing, actual participation seems somewhat low.

    Nearly six in ten respondents revealed they’d at heard of bitcoin. That up some 33 points from 2013’s measure. The two surveys are not linked. More than 5,000 people participated in the current questionnaire.

    More about survey

    According to the same survey, only 5% hold a digital asset. But 21 percent of that number claim to be “considering adding it to their portfolios.” The majority of holders are male, under 34 years of age (58%), white.

    The results basically show ten percent of millennials own bitcoin while older Americans barely break one percent. Bitcoin holders’ politics are politically independent by half. Less than 20% trust their government more than the Bitcoin network (almost a quarter).

    That’s the reason why now bitcoin!

    Asked about possible 2018 asset crashes, 38 percent of all Americans (and 41% of owners) see BTC as a bubble poised to pop this year.  Still, the survey did note that almost 70 percent expect BTC to increase in value over the coming half of a decade.

    A little more than 10 percent believe it will die out.

    According to data compiled by Bitinfocharts.com, there are almost 22 million bitcoin wallets. However, most bitcoin users have several BTC wallets and use multiple wallet addresses to increase their financial privacy when transacting in bitcoin. Therefore, the number of bitcoin users is likely less than 22 million.

    Anonymity

    A 2017 study by the Cambridge Centre for Alternative Finance suggests that the “current number of unique active users of cryptocurrency wallets is estimated to be between 2.9 and 5.8 million.”

    It is important to note that this study focuses on active users as opposed to bitcoin holders or ‘hodlers’. This gives us insight into how many individuals are actual users as opposed to buy-and-hold investors.

    This surveys also show that the end of 2018 is the right time is the time to get to know BTC. So, let start!

    What is Bitcoin?

    For the majority, it is still an open question. The first step to understanding Bitcoin is admitting you don’t understand Bitcoin.

    Let’s say, Bitcoin is a protocol. But, honestly, the protocol itself is just our best try to describe what BTC actually is. No one can be sure of the protocol’s final form.

     

    Bitcoin is a digital currency created in 2009 by a mysterious figure using the alias Satoshi Nakamoto. You can use it to buy or sell from people and companies that accept bitcoin as payment. But it differs in several key ways from traditional currencies. 

    Most obviously, bitcoin doesn’t exist as a physical currency. There are no actual coins or notes. It exists only online.

    Interesting explanations about what Bitcoin: 

    Mental construct – Because value is subjective and we feel value for Bitcoin units.
    Social construct – people feel value for Bitcoin units. And they become an intermediate commodity suitable for exchange, accounting, and store of value.
    Legal construct – As an intermediate commodity it serves to cancel formal agreements such as debts, purchases, and pay taxes.
    Economic construct – As it may be used to cancel debts and pay taxes it may be used as money facilitating commerce between untrusting strangers in different incompatible jurisdictions.
    Technical construct – It is just software that enables a network. But that network organically emerges as a useful system or technical tool for the other constructs.

    More…

    Protocol construct – The technical system is actually the system of rules imagined and designed to maintain a highly secure Nash Equilibrium between node operators and users.
    Mechanical construct – Although many see Bitcoin as a social construct only, it is as much of an objective mechanical system as it is subjective. Although people design and run it, it is immutable, just like the laws of physics in nature.
    Physical construct – Bitcoin is designed to mimic gold in nature, but in a computer system and transferable thru communication channels. This is why we call it “digital commodity”.
    Natural construct – All of the above emerge from nature. They are not imaginary or magical things, they are as natural as energy, matter, or living organisms.

    We can play with semantics here, you can say that it’s a protocol. And also the open-source project that implements the software needed to fit the protocol. Or you can try to call Bitcoin as a kid in the adults’ world.

    Bitcoin has no central bank and isn’t linked to or regulated by any state. The supply of the cryptocurrency is decentralized. And can only be increased by a process known as “mining”. For each BTC transaction, a computer owned by a bitcoin “miner” must solve a difficult mathematical problem.

    The miner then receives a fraction of a bitcoin as a reward. At present, the mining power of Bitcoin’s network is 300 times more powerful than the world’s top 5 supercomputers combined

    Anonymity matters

    A record of each transaction, using anonymized strings of numbers to identify it, is stored on a huge public ledger – blockchain. This is necessary to ensure the integrity of the currency.

    For most people, it is strange that bitcoin doesn’t exist as a physical currency. There are no actual coins or notes. It exists only online. And it is hard for the majority to imagine such a thing.

    But can you imagine the internet?

    We all use the internet in every segment of our lives but we can’t point out the finger and say “Here! This is the internet!”

    Or how some understand the universe is infinite and how they understand the meaning of infinite, you would be surprised by the answers.

    Do you exactly know how your mobile device works? Maybe some of you, but the majority don’t.

    Frankly, for me is a total mystery how my dishwasher works but it will not stop me to use it.

    “Writing a description for this thing for general audiences is bloody hard. There’s nothing to relate it to.” wrote Satoshi, July 5, 2010.

    Fiat money is managed by a central bank, which manages the money supply to keep prices steady. They can print more money or withdraw some from circulation. Yes, if they think it’s needed, as well as using other monetary policy controls such as adjusting interest rates.

    My teachers taught me how interest was compounded. The reasons may not be so clear. If we would learn banking history and monetary theory in schools, no one would use the fiat system. It is so obvious.

    On the other hand, BTC is a lot simpler than the fiat system. And people are legally compelled to adopt fiat.

    The people teaching youngsters these days have grown up under Keynesian economic theory. Also called Keynesianism. So, they strongly believe that money is defined as money only if you can touch it, smell it or hear the sound of counting money.

    Number of users 

    The most popular BTC wallet and exchange provider, Coinbase, reportedly has over 13 million users. This would suggest that the number of bitcoin users is between 13 million and 22 million.

    We can assume that the number of bitcoin users outside of the 32 countries that Coinbase services, will be several million. But this data doesn’t include major bitcoin economies in Asia. 

    So we can conclude that around 20 million bitcoin users globally can be considered as a fair estimate.

    Why use bitcoin?

    With Bitcoin people get the liberty to exchange value. Without intermediaries which translate to greater control of funds and lower fees. It’s faster, cheaper, more secure, and immutable. 

    The banks control the cash while bitcoin has owners.

    Bitcoin is very useful as a service for fast remittances for an international system of payments, for example. It can help us do online shopping. It’s like an e-wallet which makes blockchain technology to store, track, and spend digital money.

    BTC has a global acceptance and is less volatile than cash / local currency.

    Due to this feature, it becomes easier to conduct transactions across boundaries and online. You can use this crypto all over the world without going through a conversion process. It is par with Gold and combines the best of cash and gold. 

    By providing an open market and no restrictions imposed by banks or governments. Bitcoin is peer-to-peer and open, but secure. 

    Bitcoin is making the biggest revolution in the finance industry in the last 200 years. Leading all cryptocurrencies, Bitcoin is at the forefront of the bleeding edge of blockchain innovation. I think it is necessary to stay patient and witness history first hand.

    Nothing can stop that!

     

  • Why Bitcoin Has Jumped?

    Why Bitcoin Has Jumped?

    1 min read

    Why Bitcoin Has Jumped?

    On Monday morning Bitcoin has jumped almost 10%. The world’s largest cryptocurrency is back above $6,500. Last week, Bitcoin value seemed to be heading below psychological, $6,000 mark.

    According to CoinDesk data Bitcoin jumped from $6,222 earlier today, October 15, to early highs of $6,732, adding almost $10 billion to bitcoin’s market capitalization in a few minutes. On some exchanges, the bitcoin price went up to over $7,200. 

    According to the same source, the sudden rise in the bitcoin price this morning was signaled by a sell-off of the dollar-linked tether digital coin, the only cryptocurrency which was down today. Bitcoin jumped to $7,200 on Bitfinex, Kraken, Binance, and OKEx, which are all platforms that support USDT. At the same time, Bitcoin moved above $6,700 on non-tether-enabled platforms.

    To understand the nature of Bitcoin READ THIS: MONETIZING BITCOIN – THE TECHNOLOGY BEHIND BITCOIN AND ITS USES 

    How are they related?

    Traders sell tether to buy other cryptocurrencies and a flood of tether sellers pushed down the tether price and boost the bitcoin price if traders are moving their money in that direction. The tether was down by some 3%.

    Tether’s tokens are designed for stability and its price is usually close to the U.S. dollar price because Tether Limited, the company that issues the tokens, says each one is backed by a dollar in its bank accounts. But this proclamation is not independently verified.

    Allegedly, tether’s tokens are designed for stability and its price is usually close to the U.S. dollar price because Tether Limited, the company that issues the tokens, says each one is backed by a dollar in its bank accounts. But this proclamation is not independently verified.

    According to CoinMarketCap, the tether is the second most traded digital currencies after bitcoin.

    Bitcoin’s price jump pushed up the other cryptocurrencies on the market. Ethereum price and the ripple (XRP) price both recorded around double-digit percentage gains.

    This kind of short, keen changes in the bitcoin price is often an effect of trading bots who initiate a buy or sell order, then others follow. That activity causes a domino effect on the price. The same effect may be caused by whales, large holders of a cryptocurrency or some other asset, when they buy or sell a big enough lump at under or above the current market price.

    This activity causes the market price of the asset to suddenly move to sale, often causing devastation for exchange operators.

    Can this rise in the bitcoin price be a sign of Nasdaq’s return to form? Some market observers say yes. Nasdaq last week dropped towards the end of the week.

    Whoever started this run against $USDT was a very large market participant. Isn’t it very strange that both, Bitcoin and tether, break out at the same time?

    Or the point is to show that the stablecoin couldn’t keep its peg. Anyway, it is the top story of the day.

    In other words, time will show. And the time is on the side of Bitcoin.

    UPDATE (17/6/2019): Bitcoin rose and hit One-Year High

    Risk Disclosure (read carefully!)

  • Carry trade and how does it work?

    Carry trade and how does it work?

    What is carry trade and how does it work?
    How to capture the difference between the rates

    By Guy Avtalyon

    In this post, I’m gonna explain what is carry trade, how to trade this strategy, how to use it in Forex trading.

    Niels Bohr, the famous Danish physicist, once joked that “prediction is very difficult, especially about the future.” No words could better express the difficulties associated with exchange rate forecasting. As anyone involved in the business of currency forecasting can attest, it can be a humbling experience.

    ‘Having endeavored to forecast exchange rates for more than half a century, I have understandably developed significant humility about my ability in this area.’ said Alan Greenspan, former U.S. Federal Reserve chairman. Some may think writing about the fortunes of the stock market is tricky, but try to observe currencies. That’s the challenge.

    What is a carry trade strategy

    A carry trade is a trading strategy in which a trader borrows money at a low -interest rate to trade the asset that is possible to generate a higher return. This strategy is very popular in forex trading.
    This strategy counts on relative stability in asset prices. You know how an unfavorable exchange rate movement can easily wipe out the returns from the difference in the underlying interest rate.

    This motivates some people to describe the carry trade as similar to picking up pennies in front of a fast-moving car.

    What is the goal of the carry trade

    The goal of this strategy is to make a profit from the interest rate differential. Sometimes that difference can be large. So adding leverage can literally tremendously multiply profits.

    In currency trading, a carry trade is a strategy in which a low-yielding currency (one with a low-interest rate) is sold. And the funds raised are using to purchase a high-yielding currency. The purpose of this type of trade is to profit on the interest rate differential of the two currencies. In this strategy, traders use leverage to dramatically increase the profits earned through the carry trades.

    Up to 2007 many traders borrowed in Japanese yen or Swiss francs. They were actually taking advantage of very low-interest rates in Japan and Switzerland and used the borrowed money to take long positions in other currencies that were backed by high-interest rates. For example, the Australian and New Zealand dollars and South African Rand were that currencies.

    BTW, Japan has kept low-interest rates for quite a long time now. Australia and New Zealand have one of the highest interest rates in the developed world! In 2011 interest rates in Australia were as high as 4.5 percent!

    Economists theories

    Economists have developed a wide range of theories to explain how exchange rates are determined. Most studies conclude that for short- and medium-term horizons, up to perhaps a few years, a random walk characterizes exchange rate movements. But still better than most fundamentals-based exchange rate models. That studies find that models that work well in one period fail in others. They also find that models that work for one set of exchange rates fail to work for others.

    A strategy that has attracted a lot of interest among international investors is the so-called foreign exchange (FX) carry trade.

    FX carry trades entail going long a basket of high- yielding currencies and simultaneously going short a basket of low-yielding currencies. The empirical evidence suggests that the excess returns on this strategy have been fairly attractive.

    Yet, investors need to be mindful that carry trades are prone to crash when market conditions become volatile. Hence, investors need to overlay simple carry trade strategies with well- thought- out risk management systems to help protect against downside risks.

    How does a carry trade work in Forex?

    Let’s assume that you went long on AUDJPY and kept the position open overnight until the next day. Basically you are buying AUD and selling JPY.

    What happens the next day is that your forex broker will either debit or credit you the overnight interest rate differential between the two currencies. This rolling over of your current position is the carry trade.

    Say, if the interest rate earned on AUD is 4.00% and JPY is 0.10%. Your profit from the interest rate differential is 3.9% per year! This is considered a positive carry trade. But there is also s negative carry trade. It happens when you, for example, buy JPY and sell AUD. So, you could end up with a negative interest rate differential.

    This example is based on 1:1 leverage and assumes exchange rates remain constant for the whole year. Try to imagine applying leverage.

    In the example above, if you had the leverage of 100:1, your return would now be 100 x 3.9% = 390% on just the interest rate differential!

    When are carry trades successful?

    We are still on the example of  AUDJPY. If the central bank in Australia were to raise interest rates, then you would make even more gains. Therefore, you have to be mindful of the economic conditions in Australia. If the Reserve Bank of Australia is optimistic about the economy, then they will likely raise rates.

    But, if the economy is slow and the RBA believes it needs to lower rates to stimulate the economy, then the AUDJPY as a carry trade would not be that successful. Meanwhile, if the AUDJPY exchange rate moved higher, in addition to higher interest rates, your long position on the pair would gain even more!

    What is a Law of one price in a carry trading

    The principle of “uncovered interest rate parity” states that the exchange rate of any two currencies should adjust in a way to exclude any chance of making a profit from an interest rate differential.

    Furthermore, the Law of One Price states that the real carry cost of an asset should be the same in each country, meaning doesn’t matter from where you’re trading forex.

    Carry trades can be greatly tough. Because the FX element of a cross-currency carry trade requires selling the low-interest-rate currency. But also, buying the high-interest-rate currency. In the core of the carry is the intention to make the exchange rate of the low-interest-rate currency fall relative to the other. If carry trades are enough large in volume they can remove any trend for exchange rates to equalize. That is exactly what generates profits in the longer run.

    This directs us to believe that carry trades work best when risk aversion is low and investors are willing to invest in high yielding (risk) currencies.

    You might be interested to find Leading Stock Exchanges In The World

     

  • Investing In Crypto – How To Prepare For It?

    Investing In Crypto – How To Prepare For It?

    2 min read

    How To Prepare For Investing In Crypto?
    According to the study conducted by London-based investment firm IW Capital, reveals that only five percent of British crypto investors realize a profit. But only 38% of the general population has any understanding of cryptocurrency or the underlying technology.

    The data reveals that, fundamentally, Brits do not have enough information or knowledge on the topic of investing in crypto. In fact, many have no knowledge about the subject whatsoever.

    Despite a widespread dearth of knowledge surrounding this particular asset class, disconcertingly facts appeared. One in 20 Brits – nearly 3 million – have invested in cryptocurrency without fully understanding it. Only 5 percent have taken advice from a financial adviser when investing in cryptocurrencies.

    Crypto is unpredictable

    As promising as crypto can be, however, it’s also been labeled one of the riskiest investments of 2018.

    It simply crypto seems to be unpredictable.

    We will show you how to be prepared for investing in crypto on the example of bitcoin, the most popular and largest one.

    Some believe bitcoin was a bubble that has burst and is now fading away slowly, and others think it’s going to run to new highs.

    Yes, bitcoin is risky, but it is still a popular investment option.

    Should you be considering this risk these are some of the things you can do to prepare.

    If you try to figure out what exactly influences bitcoin’s price for years now, the answers are not immediately obvious.
    Bitcoin is global, decentralized, and unbound by sweeping restrictions. It can develop in different ways in different places. That said, some factors that influence the price have become clearer over time, and government regulations are at the top of the list.

    Government rulings that affect the trade of bitcoin can by extension affect the price immediately. Imagine that all governments suddenly made it illegal to deal in cryptocurrency (some already did it). This would in a minute remove a massive market, reducing demand for a short time.

    Everyone should follow regulatory news.

    How To Prepare For Investing In Crypto? 1

    What is unclear about investing in crypto for the majority

    Those who learn why it’s useful, and where its value comes from, can be a little bit puzzled by exchanges. There are a lot of them out there. They handle bitcoin transactions in different ways, with different fees, different acceptable payment methods. And varying selections of additional cryptocurrencies that can be handled. That’s why investing in crypto can be unclear for the majority.

    However, it’s still worth keeping an eye on. Because changes in exchanges can also impact the price simply by making bitcoin more accessible. Or, in some cases, by increasing visibility for competitors.

    For example, the positive effect would be if a major new exchange emerged for bitcoin, or an existing service started facilitating bitcoin purchases. But the negative effect could come about if an existing exchange. With a broad user base announced that it would begin supporting a cheaper alternative to bitcoin.

    The more bitcoin is accepted as payment, the more demand there will be for it.

    Last year has been bitcoin’s emergence as a widely trusted payment method for online casinos. They do a great deal of business internationally.

    Many platforms started looking for more secure and anonymous ways of accepting money, and bitcoin-only casinos started to emerge. A major shift like this can give millions of people a new incentive to use bitcoin. You should keep an eye out for these types of stories.

    Crypto volatility

    Although crypto might offer more volatility than most, the crypto market landscape shares fundamental characteristics with other investment markets.

    For example, the figures of losses are not wildly different from Forex, where new traders would often be better off flipping a coin or the stock market, where, according to science, 95% of all traders fail.

    Amateur trading and investing have led to countless tales of monetary losses. Most derive from the human capacity to make decisions based on emotions. Rather than research or tried-and-tested methods.

    In both, the trading and investment worlds, this story plays out time and time again, making the profitable trader a statistical anomaly. And leading the average individual investor to underperform the market index by 1.5 percent. 

    So, where the problem is? In lack of education.

    What can you do?

    You need to make sure that you’re in the right financial situation before you start investing in any asset or commodity.
    If you’re in a position where you’re still paying off any debts your money would be better invested in a savings account rather than in cryptocurrencies.

    However, if you have substantial savings account on hand, you may find yourself in a much better position to be able to invest in this volatile, but forever exciting, commodity.

    But, before you ever place down the first cash sum, you must understand what cryptocurrencies are, how they work and how their market typically behaves. You have to understand what Blockchain is, how it works and, where possible. And how some country’s sudden ban or adoption of any cryptocurrency can affect the entire market.

    And practice.

    There are plenty of platforms and brokers who will offer you a free practice account, without risking any of your own money. This way, you can get a much better feel for what you will be doing with your own funds.

    More about how to pick a good platform you may find here.

    An unfortunate fact of the industry is that cryptocurrencies are volatile. Prices for any cryptocurrency can rise and fall at incredibly fast rates. Provide a monetary shock absorber to ensure you don’t land in financial trouble.

    But whatever you do, be prepared for potential disappointment if the market begins to crash. On that way, trading and investing in cryptocurrencies will be much easier to handle.

    With the right platform, with the understanding of just what to expect from cryptocurrencies and a good personal financial situation, you can try your hand at investing in cryptocurrencies with limited risk.

    Risk Disclosure (read carefully!)

  • Crypto-Endorsements Gone Sour | A Celebrity Special

    Crypto-Endorsements Gone Sour | A Celebrity Special

    Crypto-Endorsements Gone Sour | A Celebrity Special

    Over the past one and a half years, the ICO crowdfunding trend has grown tremendously. There is no doubt that an overwhelming number of blockchain-based projects are significantly sprouting every day.

    With competition becoming viciously cut-throat, some ICOs are procuring celebrity aid to help them stay ahead. Simultaneously, crypto-enthusiasm is growing among celebrities, and it’s no surprise that many celebrity crypto-endorsements are making headlines.

    So, Why Mix Celebrities and Cryptocurrencies?

    The move towards crypto-endorsements is one that was both new and unexpected for the industry. Nevertheless, ICO companies were striking symbiotic relationships with these celebrities for one primary reason- celebrities are great influencer marketers. They have an overwhelming amount of influence over a large number of audiences both on social media and offline. Moreover, they can spread the word about an ICO fundraising event to audiences effortlessly.

    Furthermore, people tend to idolize celebrities.  This article by James Nderitu was originally published at CoinCentral.com.

    Risk Disclosure (read carefully!)

  • Japanese MoneyTap app Connects 60 Banks with Ripple

    Japanese MoneyTap app Connects 60 Banks with Ripple

    1 min read

    All You Need To Know About Ripple

    The payments network Ripple is looking to launch the MoneyTap application with support from the SBI Ripple Asia Japanese Bank Consortium later this year. That will cause Ripple to have a large share of the Japanese currency transfer market, maybe the largest. MoneyTap has officially launched its website which is a major step forward connecting several Japanese banks via Ripple solutions. It said, in March this year, the app would make it easier for banks to settle round-the-clock domestic payments in Japan. MoneyTap App is going to reduce fees associated with traditional money transfer services. The fact is that Japan is residence to a huge market for fintech, or financial technology, particularly in the areas of blockchain and cryptocurrencies.

    The deal between Ripple and the consortium has been planned for a few years.

    Japanese MoneyTap app and Ripple

    But now it looks like the firms involved are setting the closing preparations to launch the MoneyTap application in Japan. The app which was announced earlier this year, but the website for the service went live yesterday, September, 13th.

    The main purpose of the new technologies is to be applied in a wide range of industries to facilitate and enhance a great number of processes. The banking sector is one of the spheres that eagerly adopt new solutions with a view to improving its functioning.

    MoneyTap is a kind of a “simple bank transfer application without charge” and “a new bank experience application provided from the consortium for domestic and foreign exchange”.

    Speaking about the fund transfer system in Japan, transaction fees are quite high and requires a lot of time to be executed. By implementation of MoneyTap app, the situation will be changed. Via the solutions offered by Ripple, it is planned to reduce fees and to achieve a possibility to carry out reliable same-day transfers.

    The application is not ready for download just yet. But, the website going live shows that it will be soon. The projected launch date is autumn 2018.

    Ripple’s own blockchain technology is known mainly as the underlying network for its cryptocurrency, XRP, known as ripple too and it is also used for real-time transaction settlements.

    Presentation of the new app

    The new app, Money Tap will offer a money transfer too, so that will be available on iOS and Android phones. That characteristic place them to be one of the first apps with such functionality that will be used by a number of banks at the same time.

    In the beginning, the application will be working in collaboration with three of the members of the SBI Ripple Asia Consortium. The first banks involved are SBI Net Sumishin Bank, Suruga Bank, and Resona Bank. This preliminary launch will be followed by the service for the other 60 plus members.

    Ripple hits the center of Japanese money transfer

    Ripple are hoping that the move will place them at the center of the huge Japanese international money transfer market. They believe that can offer more affordable transfer than SWIFT is. Money Tap app could be more efficient in transfer smaller amounts of money than was previously feasible with traditional options.

    It is interesting that it will also compete with remittance companies like The Western Union Co. (WU). The launch will also support Ripple’s claims of offering a robust and dependable technology platform that can form the strong support of the modern payment system.

    Japanese MoneyTap app and Ripple keep the project under the veil

    We must say that practically no information on the project has been already revealed, but it is clear that Money Tap will be used by the Japanese Bank Consortium that unites over 60 local banks. That is almost 80% of the country’s banking system.

    The CEO of a Tokyo-based Strategic Business Innovator Group (SBI) has once said that they are also examining a possibility to use XRP for bridging currency on the Money Tap fund transfer platform. Now SBI is working with different cryptocurrencies.

    Ripple solutions and XRP tokens represent a special interest for SBI. Just a few months ago, the company established its crypto exchange called VCTRADE.

    Good news for Ripple,  more and more financial institutions are implementing Ripple’s technology to make easier their processes.

    But fans of the Ripple project, particularly  XRP token, should hold off on celebrating just yet. Like with many of the projects Ripple is working on, it could be that the service exists without using the token itself. Whilst this would likely be positive for those invested in terms of exposure, it would not represent automatically adoption of XRP in itself.

    It would make sense for Ripple to sideline their XRP token given that it is still not clear whether global regulators deem it as a security.

    Risk Disclosure (read carefully!)

  • India’s Top Court Refused To Lift Ban On Cryptocurrency Exchanges

    India’s Top Court Refused To Lift Ban On Cryptocurrency Exchanges

    1 min read

    India’s Top Court Refused To Lift Ban On Cryptocurrency Exchanges

    India’s top court has refused to grant any interim relief to cryptocurrency exchanges against the Reserve Bank of India’s (RBI) crackdown on them.

    The RBI had directed all banks to wind up within three months any existing banking relationships with virtual currency exchanges and traders, was the decision on April 05. The ban kicks in from July 06.

    In May, India’s top court had set the next date for the hearing of the case on July 20, two weeks after the ban would come into force. But the Internet and Mobile Association of India (IAMAI), which counts bitcoin exchanges as its members, subsequently approached the court for an early hearing, which took placed on July 03.

    India’s Top Court Refused to lift

    “This a win for the RBI and a big blow to virtual currency exchanges and traders. In our earlier request to the RBI as well, we had asked it to extend the deadline by a month after the July 20 hearing,” said Rashmi Deshpande, associate partner at Khaitan & Co.

    Khaitan & Co is a law firm representing Kali Digital Eco-Systems, an Indian exchange planning to begin operations later this year.

    “However, now that the ban will continue, the banking route for the exchanges and its users will be completely choked,” Deshpande added.

    On May 17, during the previous hearing, the apex court had asked these exchanges to submit their representation against the central bank. The firms had engaged with the RBI during the last week of May and early June.

    “We had submitted a detailed presentation that could have given RBI a clearer picture of what is blockchain, how the exchanges work, etc. But we hadn’t heard back from them yet,” said Nischal Shetty, founder, and CEO of WazirX, another Indian cryptocurrency exchange that has challenged the ban. “Today, the (India’s) supreme court has also directed the RBI to respond to those representations made by the firms in the next seven days.”

    Focus on Bitcoin and Blockchain

    India’s Top Court Refused To Lift Ban On Cryptocurrency Exchanges

    The Narendra Modi government is in the final stages of finalizing the draft regulation on bitcoin and other currencies, according to a senior government official. That’s why despite India’s top court upholding the ban, the exchanges are hopeful.

    “We have prepared a draft (on virtual currencies) that entails what parts of these businesses should be banned and what should be preserved. This should be discussed by the first week of July and we should wrap this up within in the first fortnight of July,”  said Subhash Chandra Garg, secretary in the department of economic affairs, who is heading a committee on cryptocurrency regulation, told television news channel ET last month.

    What to say?

    All eyes are on the government and the next supreme court hearing on July 20. We will see. The truth is only one: crypto is spreading and nothing can stop that!

    Share it further!

    Risk Disclosure (read carefully!)

  • Bitcoin Fell Under $6,000! Will It Be Totally Wiped Out?

    Bitcoin Fell Under $6,000! Will It Be Totally Wiped Out?

    1 min read

    Bitcoin fell! Yes, Bitcoin reached its lowest level since November when it sank to $5,791.19 on Friday.
    But experts say NO! Experts say this Bitcoin fell is only temporary.

    For example, Brian Kelly of BKCM told CNBC that the reasons for the dip was much fold but largely because of tax selloffs, regulations on cryptocurrencies in Japan, exchanges being hacked, and $10 billion funding ICO’s.

    “This is not the funeral for bitcoin whatsoever,” Kelly told CNBC. He also stressed that this isn’t unusual and said, “Let’s put this in perspective. Do you know where we were a year ago? $2,500.”

    Contrary to him, trader Ran Neu-Ner said he expects Bitcoin to keep falling. The founder of OnChain Capital told CNBC that the price is likely to fall to $5,350 in the next week or two. He remained bullish on long-term investments in bitcoin and he told investors to consider two other coins.

    “Right now my money is on the market continuing to go down,” he said.

    Bitcoin fell, will it cause less mining

    Earlier in June, he considered what miners will do in the next period.

    “That’s where the miners look at this and go: ‘Is it actually worth keeping the machine on?”‘ Neu-Ner said. “Then we may see a very different game in mining.”

    Bitcoin will soon reach a point where “miners find it’s not viable to mine. They’re going to switch off their machines.” He said many miners have already begun doing so.

    Despite his own predicting, Neu-Ner described himself as a crypto bull. “If you understand the technology and you’re a bull, then now is a great time to be buying,” he said.

    One of the staunchest Bitcoin proponents, Tom Lee of Fundstrat Global Advisors, reiterated a prediction that the asset would end the year around $25,000 during a Bloomberg interview.  Bitcoin Foundation‘s Llew Claasen back in February said bitcoin would touch $40,000 by the end of this year, in a Business Insider interview.

    Their words assure us this cryptocurrency will not disappear in a puff of smoke.

    I believe them. Why?

    That is the point of knowing the history.

    Bitcoin had 4 crisis already and survived, stronger after each of them.

    The first was July 2010, when he jumped from $ 0.008 to $ 0.08. The other was the “Big Bubble 2011”, from $ 0.06 to $ 31, then dropped to $ 5. The third was in April 2013, from $ 20 to $ 280, when Cypriot banks rescued floating client deposits. The fourth was a major crisis of the MtGox Stock Exchange in November 2013 when it jumped from $ 70 to $ 1,200, and a few months later it fell to $ 200.

    That’s why experts aren’t worried one bit.

    And you? What do you think? Let us know!

    READ THIS: Why you should not invest in bitcoin under any circumstances

    Risk Disclosure (read carefully!)

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