Tag: Crypto

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

Clairvoyant From Wall Street

1 min read

Just another clairvoyant from Wall Street.

Jordan Belfort said Bitcoin’s price struggles in 2018 signal the beginning of the end for the top-ranked cryptocurrency. He gave advice to holders to get out and to do that before ”the inevitable crash.” Despite the extremely negative attitude towards Bitcoin itself, but this clairvoyant from Wall Street has trusted to Blockchain, the technology behind BTC and other cryptos. He said that Blockchain held immense promise.

So, why the end of Bitcoin is near, according to Belfort?

The reason lies in the multiple price dips experienced in June 2018 show that BCT is approaching its “final days.” He said that a major crash that would decimate the perceived value of the crypto was imminent.

According to him, the perceived value of Bitcoin fell into the category of “the greater fool theory.” He accused people like John McAfee of deceiving the cryptocurrency community with false promises saying: ”The only reason why they’re doing that is that they’re trying to get more suckers in. To create unrealistic price projections at ridiculous values.”

And Belfort went to say: ”Everything is wrong with it [BTC]. There’re too many fundamental flaws with it, and [the] bottom line is, get out if you don’t want to lose all your money.”

This isn’t the first time that Belfort shows how hard he is against BTC and cryptocurrencies.

In September 2017, he agreed with Jamie Dimon that BTC was a “fraud.” Belfort took things a step further the following month, calling ICOs “the biggest scam ever.”

Is he right, what do you think?

True is that cryptocurrency remains an abstract investment for many, but there may be more appetite for digital currencies than some might suggest or want it to be.

If you ask Steve Wozniak and Jack Dorsey, Bitcoin will become the currency of the future. And I agree with those two guys.

Belfort comes from Wall Street, remember that.

26th June 2018
Crypto is at Risk In Korea!

1 min read

Crypto is at risk in Korea.

What excited the audience most is the information that one of an employee of Bitkoex, an exchange launched in May, posted information on how much of the Karma (KRM) cryptocurrency was held by 19 users on the platform in a social media chat last Friday.

The leaked message contained the email addresses associated with the users as well as the wallet addresses and private keys to the KRM token in their accounts. This could allow anyone with the information to access the assets, according to a report from CoinDesk Korea.

Those users hold 750 million won, or around $620,000, the report said.

Later, Bitkoex said the employee posted the message by accident and the exchange has moved the exposed assets to a cold wallet. That means that information about them is not accessible through the internet. The company claimed no assets have been lost. This is not the first time that user information had been leaked from a Korean crypto exchange.

CoinDesk, previously reported, the computer of an employee from Bithumb, was hacked earlier last year.

On Monday, June 25th, the country’s Ministry of Science and ICT inspected the information security level of 21 crypto exchanges in South Korea from January to March and confirmed that most companies have security vulnerabilities.

Just last week, Bithumb said, that around $31 million in cryptocurrency was stolen by hackers from the platform.

But, it is obvious, that is not the reason why Crypto is at risk in Korea.

Update 5/30/2019

South Korea’s major currency exchange Bithumb has properly started an over-the-counter (OTC) trading desk under the Ortus brand, according to a press release published on Feb. 7 this year.

Moreover, South Korea is a hotspot for cryptocurrencies.

A survey announced on April 20 by the Korea Financial Investment Association reveals that the ordinary cryptocurrency trader in that country has grown their crypto holdings by 64.2% in the last year.

26th June 2018
How to Start Trade Crypto?
Should you buy or trade crypto? Before you make a decision it is important to consider the differences between these two strategies in detail.

By Guy Avtalyon

Trade crypto – do you know how to do that? No? Don’t worry.

Read this article to the end. I want you to learn everything I know about trading crypto.

And it is a handful.

In the following articles, I will teach you, I’ll hold your hand until you feel you’re becoming a professional trader.

Here you will find lessons and instructions on how to trade with CFD, options, and cryptocurrencies.

In fact, in the past few weeks, I have received a lot of invitations from friends and acquaintances about how to trade crypto, and I decided to write these brief instructions in which I will explain in the simple way the possibilities to become engaged in crypto trade.

You can also see our FULL article on how to trade in cryptos (Updated Oct 15, 2018)

For the past year, cryptocurrencies have gained popularity, especially after the fact that people who bought Bitcoin 7 or 8 years ago, for several hundred dollars, today are millionaires. It’s hard for you to become millionaires if you start trading today, but it can still be very well profitable.

And maybe you want to buy a crypto and have it as a kind of savings account.

So, let’s start!

What to trade crypto?

First of all, you have to know that all successful traders were once the beginners who studied trading from the very basics while they gained experience over time. I am not going to explain the background of the cryptocurrency and how it works, because it is not relevant to trading for the average user. Most importantly, you have to know that the most popular currencies are: Bitcoin, Ethereum, and Litecoin, so I recommend that you initially focus only on them. There are currently hundreds of currencies worth $ 0.00001 per unit and they hope that one day they will become the new Bitcoin. There is always room for earnings with the three “main” currencies because they are very volatile. For example, the Bitcoin prices are often changing for over a few hundred dollars any day. The trading principle is the same as for any store – buy low, sell high.

Given that the cryptocurrencies are volatile (Bitcoin, in particular), there is always room for profit.

At first, you need to open an account and a wallet to buy or sell cryptocurrency. There are hundreds of different platforms for it. The registration process is actually very simple. Fill in your personal information and in the end, you will need to scan your ID card or passport through a webcam or mobile phone (if you register with a mobile application). This process sometimes should be repeated several times (I scanned it 3 times) because it may happen that the application can not read data (for example, if you do not hold the document steady in your hand). Once you have done this, you will receive a text message with the code that you will use for the first login on your mobile phone. After you are logged in, you will be presented with a dashboard. Here’s where you signup to Coinbase.

How to trade crypto?
1. Instant purchase via debit/credit card
2. Through a bank transfer of money from your bank account to your trade account.
What to do afterward, I will explain to you specifically on the case of registration on the largest CoinBase Platform.

If you are buying with the card, the process is quick, but the fee is 3.99% higher (card purchase fee) + 1.49% (standard Coinbase fee). If you decide to transfer via a bank, you must first send one euro/dollar to CoinBase account to confirm that it is your bank account. Then transfer the amount you want to trade with.

To transfer money to a Coinbase account usually takes 2 business days. The money will appear in your EUR/USD wallet and then you can buy crypto. All details for bank transfer payment will be found under Setting -> Payment Methods -> Add payment method.

Decide by yourself which method suits you better. If you don’t want to buy crypto right away, you may have better options. When you are ready to purchase, you have Buy/Sell on the toolbar.

Well, you’ll need first to choose which currency you want to buy. Then the method of payment and the amount. On the left side of the screen, you have details of the transaction. After you buy the crypto, you will receive an email confirmation that the purchase is completed.

You are now officially the owner of a cryptocurrency.

Congrats!

Trade crypto for profit

All you need now is to monitor the graph and decide when to buy or sell.
Side note: Coinbase is designed more like a wallet in which you will hold your cryptos, than as a platform for active trading (because the fees are quite high).

If you are planning to sell and buy every day you should use some other platform.

More about this on another occasion, in the continuation of teaching. One step at a time! But I want to tell you that trading crypto is based on the principle of stock trading. Let’s say this way, when you buy crypto you’re buying it in the hope the price will rise. So, you could sell it later and become a millionaire, right?
But, when trade crypto you are taking advantage of markets that are falling in price. The same comes when the markets are rising. In trading in general, this is well-known as going short.

Crypto market volatility

The cryptocurrency market volatile due to huge volumes of short-term profit and frequent trades. For example, do you remember October last year when the price of bitcoin rose to $19,378?
The volatility of crypto is an ingredient that makes the crypto market so exciting. Accelerated intraday price changes can provide a spectrum of opportunities for traders to go long and short. but pay attention, this also comes with great risk. You’ll need a risk management strategy.

I hope the instructions were helpful. Feel free to share this with someone you know to be interested in cryptos.

But remember one thing.

Trading and use of information presented here is at your own risk

You can learn also about trading currencies here
24th June 2018
Cryptocurrencies a Powerful Tool Against Hyperinflation?

2 min read

Cryptocurrencies are a powerful tool against hyperinflation

Cryptocurrencies can be a powerful tool in protecting your funds against hyperinflation. There are pros and cons at the same time. In an interview on The Late Show with Stephen Colbert, Reddit co-founder Alexis Ohanian said yes. He believes cryptocurrencies can be an effective tool in protecting your funds against hyperinflation. The reason he prefers cryptocurrency over regular fiat currency lays, in fact, that ”Cryptocurrencies are fuel for a potentially new internet”, as he said.

Reddit co-founder Alexis Ohanian

Ohanian told: “Things like Bitcoin and cryptocurrency are an opportunity for us to have a store of value that is not backed by a single country.” Further, he told that cryptocurrency gives people the ability to control their own money without any fear of forceful government intervention – especially in countries dealing with unstable political and economic predicaments.

“We sort of take it for granted the fact that we all have bank accounts, and we move money here and there, but for so many people in the world to have actually this security of knowing that what is yours is yours, because it is now digital, could be transferred with you wherever you are going, is actually pretty empowering,” said Alexis Ohanian.

Ohanian’s viewpoint is that Bitcoin can still offer more stability than the fiat currencies of countries struggling with hyperinflation in spite of the highly volatile nature of cryptocurrencies. He recently made headlines with his predictions about the price of Ethereum and Bitcoin. A few weeks ago, the Reddit co-founder made a prediction that the prices of BTC and ETH (respectively) will reach $20,000 and $1,500 by the end of the year.

Many are willing to say that this is an extravagant or pretty baseless prediction.

But do you remember the end of last year?

And Ohanian is not the only Silicon Valley entrepreneur who is bullishly optimistic on cryptocurrencies. Twitter co-founder Jack Dorsey has also previously expressed believes that Bitcoin will be the world’s primary currency by 2028.

The idea of utilizing cryptocurrencies to fight hyperinflation has been explored in multiple countries.

Such experience has in Zimbabwe, Venezuela, and Argentina.

Many people turn to cryptocurrencies during hyperinflation in wish to save themselves from losing their money. This sometimes temporarily drives up the local buy price of the cryptocurrencies.

We will see.

For now, the fact is that cryptocurrency gives people the ability to control their own money without any fear of forceful government intervention. Especially in countries dealing with unstable political and economic predicaments.

Contrary to this Bank of America CTO said that Bitcoin wasn’t ”transparent in the financial moment of money.”

That is totally strange because the definition of blockchain is – a digital ledger in which transactions made in bitcoin or another cryptocurrency are recorded chronologically and publicly – so they have to realize that Bitcoin is much more transparent than the current banking system.

Many world big companies such as JP Morgan, Goldman Sachs, Bloomberg, New York Stock Exchange or NASDAQ jumped into crypto.

Is the Bitcoin solution for protecting of hyperinflation?

As you can see some experts say YES, some NO.

On an example of Venezuela, we may try to find the answer. Venezuela created its own cryptocurrency in order to try to get out of the crisis and they named it – petro. But, it is not like other cryptocurrencies.

The name Petro is a kind of program of that currency: the value of each petroleum will be covered by the crude oil barrel. In addition, as President Nicolas Maduro has announced, as currency insurance other raw materials are used. The “petro” came in response to the Venezuelan authorities’ financial blockade and sanctions, and this is not about ordinary blockchain, but its value is based on state reserves of oil, gold, gas, and diamonds.

Cryptocurrencies against Hyperinflation

Two months later, Venezuela offered to sell its crypto, and currently, about 82 million tokens are available, which the government could sell next months. The plan for the sale of the ”petro” currencies is on the website, which was created specifically for this occasion, and the price of one unit depends on the price of one barrel of Venezuelan oil.

President Maduro’s plan to deal with the economic crisis continues, and it is still expected that Petro will affect the economy of Venezuela, and becomes an alternative to the physical currency.

OK, Venezuela seems to have broken a common financial law: in the world’s oil trade, the price is always calculated in dollars. But that is the other view of problem.

Will it is helpful to Venezuela or not we will see. Intention to create their own cryptocurrency has some other countries faced with hyperinflation such as Zimbabwe and Argentina were. On the example of Venezuela, others will make decisions. The point is: can cryptocurrencies be instrument or way to beat hyperinflation?
Alexis Ohanian and many other experts said yes.

If you want to know more about the best stocks to invest during the inflation you SHOULD READ THIS

24th June 2018
Financial Freedom – Viva La Crypto!

2 min read

The cryptocurrency revolution is financial freedom and independence

The religious wake up in the morning and thank God they are alive.

Unlike them, I wake up and thank the internet for the generous bounty it has given us. I do this not to be intentionally sacrilegious, rather because more than anything else, I believe in the Digital Redemption and the hope it brings humanity.

And while I absolutely love my friends Wikipedia, Facebook, Amazon, Reddit, and my sexy late-night mistresses Netflix and YouTube, it is none of them who have granted me such faith.

It is because I have seen the Sign, the crypto.

Do understand, what we are witnessing in our lifetimes is the first peep of sunlight in a bright new era of freedom and unlimited access. What a time to be alive, isn’t it?

To me, the Sign is as clear as day and I’m of course referring to the cryptocurrency revolution.

Financial freedom is the appearance of the crypto

In a WSJ Op-Ed written in late November 2017, FCC Chairman Ajit Pai said the Internet is literally “the greatest free-market success story in history” and (Great Scott!) does this resonate with me.

So far, the digital revolution has laid the groundwork to exchange information, goods, and services globally and freely which has empowered billions by granting them access to what anyone needs to succeed: access and opportunity.

Unadulterated, uncensored freedom.

By all logic, cryptocurrency IS the final piece of the free-market puzzle.

Bitcoin and other currencies are the keys to create true economic equality by creating a decentralized currency free of government control thus empowering the little guy.

Power to the people, certainly. That is financial freedom.

Just think, the heavenly Cloud opens up will lead to her people and create the Promised Land right here on our planet, where Earth used to be.

Just like the proverbial battle between good and evil, I too hear about how the governing institutions of old are trying to block out the impending sunrise by stealing users’ personal information for political and financial gain and by dangerously bringing into question net-neutral access to the World Wide Web.

I know that it’s only a matter of time before we, as collective humanity, liberate ourselves from the towel covered birdcage we find ourselves in and come into the light.

This is why I smile every time I turn on my laptop and see my stake in various cryptocurrencies or articles on the subject.

The economic revolution has already begun its course and I get to be a part of it.

What’s my point?

I am by no means endorsing switching entirely to crypto and abandoning investment in other types of assets. Forex, ETFs, mutual funds and other investment are good products for the time being in the reality of our world’s economy.

All I am saying is that by building a portfolio and COMPLETELY ignoring cryptocurrency, it’s like you’re trying to get on the expressway in a Ford Model T.

Sure the car’s got a reputation, four wheels, and an engine but, man, are you going to look stupid when it eventually breaks down on the side of the highway or knocked off the road by someone in a Prius who was texting.

Financial freedom is the revelation of more possibilities

Understanding and investing in crypto is how I plan on being a part of the economic revolution. I implore you, my dear reader, for your own sake, learn as much as you can about crypto and don’t laugh it off as a passing fad because it is not going away any time soon.

The economic revolution is afoot and you can either be a part of it or get left on the side of the highway feeling dumb.

Up to you!

Read this too MONETIZING BITCOIN – THE TECHNOLOGY BEHIND BITCOIN AND ITS USES

Risk Disclosure (read carefully!)

22nd June 2018