Altcoins have outperformed bitcoin in the past two months, with many of them seeing a 100,000% return and more. Meanwhile, BTC’s dominance falls to a 3-year low of 45%, suggesting that some investors are preferring altcoins over bitcoin and rotating from their bitcoin to altcoins markets. 

Altcoins are alternative cryptocurrencies bitcoin. While they share many similarities with bitcoin, they are different in other ways such as functionality. They are also much cheaper and accessible to beginners. Over a thousand altcoins have been created and new coins are listed on exchanges every day, providing investors with a wide range of choices.

Take dogecoin as an example, the “joke” digital currency has a six-month return of 26,000% in 2021. However, sell-offs could happen anytime. On May 9, within one day, Dogecoin plummeted 40%. In addition, the price of the Shiba Inu coin (Shib/USDT) saw a 1,900% rise since May. But the threat of price dumps is looming on the heads of investors. 

However, amid the altcoin season, mainstream cryptocurrency such as Bitcoin is still the most favorable choice for experienced investors. Although some altcoins can generate significant profits in a short time, the altcoin market is highly risky and investors should remain cautious. 

Market Manipulation 

One flaw of the altcoin market is market manipulation. Because most altcoins have a relatively small market cap, any dump or pump could result in wide price swings. Trades who hold large amounts of altcoins could play the markets to their advantage and retail investors could do little to protect themselves.

For instance, a whale may open a short contract, then dump a huge amount of altcoins to force the price down. After closing the short contracts, they can buy back the coins at a very low price. Since the order books of these markets are thin, they are much easier to control. Forced liquidation is a common occurrence in altcoin trading. 

No Value, No Story To Sell

In addition, the technology of most altcoins is not mature compared with mainstream cryptocurrencies such as BTC and ETH, making them less irreplaceable and valuable.

If you are betting on the potential of an asset, small altcoins are not what you are looking for as they have little fundamental value. More often than not, the price rallies of these altcoins are initiated by big traders, then supported by retail investors driven by FOMO. But what goes up must come down someday, latecomers hoping to get a taste of rallies may very well find themselves buying high. 

Mainstream Cryptos Remain The Best Buy

The main advantage of major cryptocurrencies is their widespread use and acceptance. Bitcoin wins the adoption of various big companies and has become an actual form of payment.

In terms of ETH, it is used to support smart contracts and Defi. Furthermore, the European Investment Bank will issue $121 million digital notes with Ethereum. With the implementation of the Berlin fork, Ether is expected to become more scarce, thus driving up the price of ETH. Although their prices are less fluctuated, they are steadily gaining in value, making them more suitable for beginners and pros. 

How To Invest

Futures trading is one of the most popular tools to grow your wealth. You can benefit from price swings to earn money by speculating the direction of crypto’s price. Bexplus is a leading crypto derivatives platform accredited by MSB (Money Services Business). Bexplus offers 100x leverage in BTC, ETH, EOS, LTC, and XRP futures contracts.

Headquartered in Hong Kong with a license from Money Services Business, Bexplus is trusted by over 100K traders around the world, including the USA, Japan, Korea, and Iran. No KYC, no deposit fee, traders can receive the most attentive services, including 24/7 customer support. 

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Disclaimer: This is a paid post and should not be treated as news/advice

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Dogecoin Price Analysis: 18 May

Wild price swings have seen Bitcoin (BTC) breach the $40,000 for the first time in its twelve-year history.

Currently, the largest cryptocurrency by market capitalization has retracted to $38,647 at press time. This bull run has seen BTC skyrocket by nearly 952% since it plummeted to around $3,800 in March last year, as the grappling effects of the coronavirus (Covid-19) continue to wreak havoc globally.

Market insights provider Unfolded has, however, noted that caution should not be thrown to the wind because currently, BTC’s levels are euphoric, and a downward push may be inevitable. The data analyst noted:

“Bitcoin is approaching euphoria/greed levels.”

Image source: Shutterstock

With cryptocurrencies surpassing the USD 2trn market capitalization milestone, the upward price momentum has drawn a fair share of cheerleaders and detractors into the conversation surrounding Bitcoin (BTC)’s future. While the debate rages on, the expansion of the Bitcoin monetary ecosystem to support greater derivatives trading has sparked many interesting developments, especially for traders.

For one, given that Bitcoin exhibits the largest and most developed futures contract ecosystem, the king of crypto is undeniably benefiting from lower volatility over time, which continues to fall as evidenced by the chart below.

Although candlestick price charts may tell another tale, given how unprecedented the price swings are compared to nearly every other asset class, the introduction of Bitcoin futures has also encouraged more participation from retail and institutional investors alike.

A quick look at the rise in futures open interest (how many futures contracts are outstanding) in the chart below demonstrates the overall growth in demand for futures. A closer inspection shows that the expansion in open interest does lag prices (yellow line) historically with a few exceptions (most recently in mid-April). This can be interpreted to mean that BTC price action in the spot market might be a key driver of growing interest in the futures market.

Still, that doesn’t mean that Bitcoin futures have no role in indicating the future of BTC spot prices. There is still a significant spread (difference or delta) between Bitcoin futures prices and spot prices, which have opened up a uniquely profitable trading opportunity with very limited risk. This is especially attractive for traders who want to avoid being held prisoner to sharp daily price swings.

Before the days of a booming futures market, the main arbitrage opportunity in the crypto space was between exchanges. For those unfamiliar with arbitrage, this is basically the idea of buying something cheap and simultaneously selling it for more, capturing the difference in prices while maintaining a neutral position in the market.

One historical example in Bitcoin was when traders would buy coins at a cheaper price on one exchange, move them to another exchange to be sold for a higher price, and then repeat the process. However, the time it took to move coins between exchanges and BTC price volatility made this risky trade.

Fortunately, since exchange fees now make this form of arbitrage difficult, if not impossible to implement, a relatively risk-free opportunity has arisen. Traders can exploit the significant difference between spot and futures prices in a trade, which persists to this day, with more minimal risk.

At the time of writing, a quick look at CME futures data for Bitcoin showed that the December 2021 contract (which expires in that month) was trading substantially higher than spot prices (see chart below comparing BTC futures to BTCUSD spot prices on Coinbase). As of the close of trading on May 3rd, 2021, the difference between the spot and futures price was approximately USD 3,500. This difference represents an almost risk-free opportunity.

Effectively, that means that traders could, for example, buy Bitcoin in the spot market at USD 57,215 and sell December 2021 Bitcoin futures for USD 60,720, capturing the USD 3,505 difference. This equates to around a 6% return over 9-months. Traders would have to hold onto this trade for 9-months (until the futures contract expires at the end of December), but other futures contracts which expire sooner can also be purchased to drive returns even higher.

For instance, the September futures contract displayed below also highlights a notable difference between recent prices and September’s price, which can be exploited.

What this means is that every time a futures contract is more expensive than spot prices, traders can buy BTC in the spot market and sell BTC in the futures market to capture this difference, while remaining completely unexposed to bitcoin volatility. Ultimately, given the structure of futures contracts relative to spot prices, generating a 15%-20% return over 2021 would not be implausible.

This makes the above-mentioned trading opportunity very promising, namely due to the lower level of risk. Just don’t lose your private keys to your BTC wallet holdings. News Source

A widely-followed analyst known for being the first to apply the stock-to-flow model (S2F) to Bitcoin says that BTC has just created a perfect setup for a spike up to $100,000.

The S2F, traditionally used in commodities markets like precious metals, compares the price of an asset versus the amount of new supply. Plan B has amassed a massive following with the stunning accuracy of the S2F and the S2FX, a variation of the S2F, which also takes into account gold and silver’s performance to reach a price estimation for Bitcoin.

In a new tweet, Plan B notes that a new colored dot, representing the close of another month on the S2FX model, is slightly down from last month, looking like a potential slingshot upward into the six figures.

“New dot… slightly down after 6 months up… looks like the perfect setup for jump towards $100,000. April close $57,200 March close $58,782 Feb close $45,240 Jan close $33,141 Dec close $28,992 Nov close $19,700 Oct close $13,816 Sep close $10,778.”

The pseudonymous trader also says that Bitcoin’s momentum indicator, the relative strength index (RSI), just broke its way above 90.

“Bitcoin monthly RSI 90… so what do you think, 95 soon?”

According to PlanB, the 2011, 2013, and 2017 bull markets were in full swing when the RSI hit above 95.

PlanB adds the current bull run looks less like the 2017 cycle, and more like the 2013 one which had a considerably more parabolic rally.

Despite Bitcoin’s already impressive performance in 2021, Plan B asserts that the boom cycle of the world’s largest crypto asset by market cap is likely far from over.

“Just to confirm that both S2FX model and on-chain signals indicate we are only halfway into this bull market and nowhere near the top.”

Featured Image: Shutterstock/sdecoret

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Cryptocurrency is arguably one of the hottest topics in the tech world currently, and those who invested in the early years are reaping the benefits. Even though there is a still a lot of doubt around the digital currency, with the Indian government possibly even looking to ban it, there are a few startups that have flourished over these years. One of them is Unocoin, which was started by a few individuals with keen interest in cryptocurrency. The idea to begin Unocoin stemmed from Bitcoin meetups in the early 2000s, wherein the lack of any reliable source to buy and sell Bitcoins in India needed to be addressed.  

The company had a rocky couple of years that included being arrested for installing a crypto ATM in a Bangalore mall, and an intense battle with RBI at the Supreme Court. However, the co-founders stuck on with their goal of bringing ‘Bitcoin to the Billions’. Unocoin is now 74 employees strong and daily trading on the platform is roughly at Rs. 10 crores. It is now a trading platform for 30+ different kinds of cryptocurrencies and the company hopes to be India’s first crypto assets exchange to file for IPO.   

Expert Opinion: TechArc chief analyst, Faisal Kawoosa says, “Cryptocurrency is a reality. We can’t deny it. It’s good to see that India is making early inroads into it. However, the concern is ambiguity around its legality. I think we need to have a clear vision about that so that all have confidence to grow it and benefit from it.”

We spoke to COO and Co-Founder of Unocoin, Harish BV to know a bit more about the company’s journey, its unique product offering, and its future plans.   

1. What were you doing before Unocoin?     

I was working in the Wireless Internet Service Provider segment and also dabbling in manufacturing of wireless antennas.   

2. What was the conceptualisation process behind Unocoin? How did you and your co-founders meet?    

Unocoin is India’s first crypto assets exchange platform launched in 2013. We launched our exchange in 2013 because India didn’t have any reliable source to buy and sell Bitcoins. I and my co-founder Sathvik are 15-year-old friends. We both met Sunny, our other co-founder, in Bitcoin meetups. Sunny was the one arranging Bitcoin meetups in Bangalore.   

3. What pushed you guys to finally register for this crypto-exchange company?    

In 2013, Bitcoin was very new in India and our goal was to bring Bitcoins to billion Indians. In those days, there was no proper platform to buy or sell Bitcoin. In our Bitcoin meetups, people were asking us where they could buy or sell Bitcoins. We saw the big gap and tried to fill it with Unocoin.     

4. Could you elaborate what Unocoin is, how it works, who are your investors, and so on?

Unocoin is a Broker service and trading platform of 30+ different kinds of crypto. We support a Systematic investment plan for our customers where one can invest as low as Rs.10 daily, Weekly or Monthly. Earn Interest option to earn the interest by parking the idle crypto, Get Instant Fiat loan without selling BTC by just pledging BTC. Crypto basket where one can make the buy the cryptos by allocating the right amount for various cryptos. Our major investors are Digital Currency Group (Barry Silbert), Draper Associates (Tim Draper), Blume Ventures, Boost VC.   

5. Cryptocurreny has become popular in western markets. How far behind is India in getting there?    

India is picking up, especially since after we won in Supreme Court in March 2020. The next two years are very important for India to catch up with western markets. India has a huge young population that is tech-savvy, and cryptocurrency is treated as Digital Gold among the young generation.   

6. Could you explain why cryptocurrencies are so volatile in nature and have such sporadic swings?   

Compared to the early years, crypto assets are now much less volatile. Most of it depends on some news headlines, regulation, and demand and supply. In the early years, only a few people were involved in Bitcoin exchange and that is why it was so volatile. As the market expands and large people adopt to the practice, then the volatility will decrease in the next five years or so.      

7. The government is rumoured to pass a law to ban all cryptocurrencies. What do you have to say about that?   

The government is confused about cryptocurrencies and crypto-assets. Bitcoins and all the other cryptocurrencies are always treated as digital assets and not as currency. We are continuously working with government agencies. We hope the government will appoint a standing committee and give all stakeholders an option to submit their views on crypto-assets for the Indian ecosystem.   

8. Could you share some of the big milestones you’ve crossed since inception?     

Winning against Reserve Bank of India (RBI) in the Supreme Court last year was a big step. I was an Individual applicant in RBI vs IAMAI case.  RBI first issued its ban on banks’ dealings with crypto businesses back in April 2018. In 2020, SC reversed the ban in favour of cryptocurrency.   

9. Could you help give a sense of how far Unocoin has come? From when it began to where it is now  

We started our company in 2013 with three employees and now we have more than 70. Regarding our user base, we are now serving 1.5 million customers all over India. Our active monthly users are approximately around 100,000 and we have witnessed 50 percent year over year growth. Our daily trading is roughly at Rs. 10 crores.

10. Is there any particular incident that is monumental in Unocoin’s journey? Please share that incident with our readers.  

We installed India’s first Bitcoin ATM machine in 2018 because RBI restricted Banks to provide a bank account for cryptocurrency users. To give confidence to our cryptocurrency investors in India we installed a Bitcoin ATM so that investors don’t panic to sell their holdings and cash out the fiat.   

As regulators thought we are doing something wrong for customers, they have taken very hash steps of arresting me and my partner Sathvik. As an entrepreneur, we need to be strong and face the problems. One must not be scared to try new things if the ultimate motto is good for society.    

11. Any advice for young Indian entrepreneurs out there? What is your management mantra?    

One must try new things with their passion, dedication and not to be scared of their failures.   

12. Where do you see Unocoin in the next five years? 

To go for India’s first crypto assets exchange into IPO.   

Bitcoinist | Feb 11, 2021 | 12:56

2021 has already been an explosive year for cryptocurrencies, and it is only just the beginning. Bitcoin’s unstoppable rally has spilled into altcoins like Ethereum, and it has resulted in prices and open interest of both reaching new all-time highs early in the new year.

The trend and momentum look to continue further, making this year potentially the most profitable for crypto markets. But this opportunity is only possible if the platform you rely on can handle the notorious volatility of cryptocurrencies. Here’s why the speed of Phemex is so critical to taking full advantage of record-breaking futures open interest.

Last year, the coronavirus pandemic gave new life to digital assets like Bitcoin. In addition to acting as a contactless form of payment, these digital currencies offer the ability to transact over the internet without the need for a third-party and offer hard-coded digital scarcity.

Efforts to stimulate nations’ economies have only resulted in more fiat money being printed, which further inflated the prices of Bitcoin and other crypto-assets.

Once the top cryptocurrency set a new price record, futures trading activity, which allows traders to speculate on the future price of Bitcoin, has surged to an all-time high in open interest according to data from Glassnode.

Open interest represents capital currently trading in assets, signaling that more and more investors and traders are interested in Bitcoin than ever.  

The same sentiment sent Ethereum to a new all-time high next, and more and more altcoins are bound to follow in the same footsteps now that the bull market is here.

Bull markets mint new millionaires each day, and this one will be no different for those that take advantage of this once in a lifetime opportunity. Surging open interest already at record-breaking levels and still climbing shows that so many don’t want to let this rare chance pass by.  

Buying Bitcoin at this price isn’t quite as attractive as it used to be when each BTC cost $3,000 apiece. A well-timed long position with leverage through futures trading platform Phemex can make up for missing the early Bitcoin breakout and bring life-changing ROI.  

At this price, Bitcoin’s volatility means much larger price swings, which also means that it is more critical than ever to choose a futures trading platform with lightning speed. These days, Bitcoin, Ethereum, and other assets are rising and falling 20% or more intraday, with enormous one-minute candles.  

Slow order execution can result in massive slippage, putting capital at unnecessary risk. Global trading platform Phemex is known for its speed, and therefore low spreads, allowing traders to get into the position they want while keeping the risk of loss or getting preemptively stopped out to a minimum.

Phemex, specifically, is responsible for a lion’s share of the open interest surge shown above. Internal aggregate data implies that open interest on the platform has grown anywhere from three-fold to five-fold since August 2020.

Open interest on the platform is only growing month-over-month, matching the overall crypto market trend seen with Bitcoin and Ethereum. This also means that liquidity on the platform represents some of the best out of any trading platform.

Phemex also offers futures trading for 12 other altcoins, including Ethereum, Chainlink, Polkadot, and other top assets. It is also one of the only crypto futures trading platforms that also offers contracts for gold.  

For reasons like the above and many more, Phemex has become the gold standard for crypto futures trading. To learn more about the platform’s unrivaled order execution speed and low slippage, visit Phemex.com.

Disclaimer: The information presented here does not constitute investment advice or an offer to invest. The statements, views, and opinions expressed in this article are solely those of the author/company and do not represent those of Bitcoinist. We strongly advise our readers to DYOR before investing in any cryptocurrency, blockchain project, or ICO, particularly those that guarantee profits. Furthermore, Bitcoinist does not guarantee or imply that the cryptocurrencies or projects published are legal in any specific reader’s location. It is the reader’s responsibility to know the laws regarding cryptocurrencies and ICOs in his or her country.

The advent of cryptocurrencies and with it, Decentralized Finance has taken the world by storm, with the numerous use cases being churned out by the day. Cryptocurrencies and the underlying technologies have evolved over time with new project modifications with the utmost target of completely overhauling what traditional finance has to offer.

One of the new inventions of blockchain technology is decentralized finance (DeFi), a term that is arguably not new in today’s crypto space owing to the traction it has garnered. Decentralized finance encompasses the creation of financial products, governed by smart contracts or unique codes built atop public blockchains like Ethereum. 

Decentralized Finance is a direct threat to what financial institutions and centralized monetary authorities are providing as flexible products such as loans which would require much vetting in traditional finance can easily be accessed in DeFi. Other services such as savings and staking to earn interests or passive incomes are also redefined in the world of decentralized finance as they come with higher interest rates.

Many investors are embracing DeFi as well as other opportunities associated with the new financial ecosystem. Defi platforms including Aave, Maker, Compound, and Synthetix amongst others all have associated network tokens which have been a delight of retail investors beginning in the past year.

Past, Present, and Future Prospects of DeFi Tokens

Just like Bitcoin (BTC), decentralized finance platforms offer their tokens as assets with the possibility to grow based on demand and utility. As such, these tokens remarkably surge in value over time. A perfect example is Polkadot, and the associated token (DOT), with a quoted Return on Investment (ROI) of 1233.93% according to CoinMarketCap. This is unlike anything that has been seen in recent years by any publicly listed market of barely a year old.

Decentralized finance tokens have a huge prospect which many did not realize until last year. At present, the tokens are showing resilience and some are parting ways to shield themselves from being correlated with Bitcoin amidst unprecedented price swings.

DeFi tokens have been quoted to have a bright future prospect, as many of their underlying projects are yet to unlock their utmost use cases and mainstream adoption. When these elements are fully present, the appreciation for this group of digital tokens will be heightened.

Enough Rooms To Grow

Decentralized finance currently has about $41.07 billion in total value locked (TVL) according to analytics platform DeFi Pulse, and the market capitalization of all known tokens is just a fraction of the global crypto market cap.

While the entire cryptocurrency ecosystem is at best described as a nascent investment space, decentralized finance is particularly at an infantile level that many will well be positioned in the future to back the technology today. 

To tap the underlying potentials of the technology, developers are also potentially in a good position to swarm in, building innovative platforms with products and services that can challenge the redundancies in our world today.

Recommended Ways To Achieve This

There are unique aspects that DeFi can specifically focus on to channel its future growth, and this includes but not limited to;

At the rate at which there is a proliferation of DeFi projects today, there is the need to establish a cross-boundary consortium, a body that will be tasked with sieving the true game-changing innovations in the space from opportunistic ones. While the function of the consortium may be more diversified, a body to certify projects may guarantee better trust amongst prospective adopters.

There is an ongoing shift in focus from the unique products and services that a decentralized finance project can offer to the native tokens projects launches. Tokens contrary to the observable trends are not the end, rather, they offer a way to ensure the smooth running of the Decentralized Autonomous Organizations (DAO) that most DeFi platforms claim to. Project developers should think through ways to emphasize the problems they are solving beyond the tokens and their appreciative value.

While adoption is essential for DeFi platforms, a general growth of the emerging ecosystem can be better driven when the focus of each existing and emerging product is to address the needs of users around the globe, barring the nations that have unfavorable regulations coverings such new innovations.

• The hype, buzz, and misconceptions all rank high when it comes to Bitcoin. However, there is scope for gaining a substantial amount of money.

• But, the plethora of pitfalls and traps can prevent you from becoming a successful Bitcoin trader.

Are you just entering the world of cryptocurrency?

The hype, buzz, and misconceptions all rank high when it comes to Bitcoin. However, there is scope for gaining a substantial amount of money.

But, the plethora of pitfalls and traps can prevent you from becoming a successful Bitcoin trader. It is particularly daunting for those who have just entered the market. 

11 Tips to gain success in Bitcoin trading

There are numerous pointers that can help you in making improved decisions. Keep in mind that some losses are inevitable. But it is vital that you understand those mistakes and remember them for the future. Check out the tips listed here to garner a considerable amount from Bitcoin trading. 

Save a significant amount

The foremost tip is that you must save a considerable amount of money if you want to indulge in Bitcoin trading through platforms like bitcoin compass. It is not necessary for you to amass a huge capital for trading here. Moreover, it is recommended that you do not put all your money in. if you suffer losses, it will cause you serious financial woes. 

Be alert of events and news

There are various factors that can influence Bitcoin prices. You must be aware of the latest news and events occurring across the globe. It is vital that you remain up-to-date about various political, financial, and other situations.  If you can predict the price movements, then you can make well-informed decisions. 

Start small tradings initially

If you start high volume tradings on the very first day, you could suffer losses. That might, in turn, shatter your confidence. Not to mention the loss of financial amount. That is why it is recommended that you start small and then rise through the levels. If you start small, then you can understand the market better. Moreover, it diminishes the risk of loss too. Once you gain some confidence, you can then increase the volume of daily trading. 

Research the Bitcoin market

Are you dreaming of garnering huge profits from Bitcoin trading? Well, you have to do the legwork to get the reward. It is vital that you conduct extensive research on the market. You can start by taking note of the previous trends and comparing them with the current ones. Also, blogs, articles, etc., by experts are a huge help. If you are unable to interpret technical charts, you need to look up to the professionals. 

Make an efficient trading plan

While trading strategies are utterly crucial, trading plans are equally vital. You need to construct a firm trading plan and follow it rigidly. If you deviate, then you have the risk of suffering financial losses. For making the trading plan, you must first set goals. Make sure that these are realistic. You obviously cannot become a millionaire overnight. Moreover, you also need to understand the risks. 

Think about the trading strategies

There are various types of trading strategies that you can opt for as a trader. You can choose – scalp trading, day trading, swing trading, or automated trading. For beginners, the best option is automated trading. Here, the bots do all the heavy-lifting, and you just have to set the limits. It is particularly beneficial when you don’t have much knowledge about the market. 

Opt for risk management

The Bitcoin market is extremely volatile, and as such risks, are part of the investments. It is vital that you devise risk management plans before committing to Bitcoin trading. Some of these strategies include stop-loss orders and limit-close orders. These will close your trading positions and prevent any extensive financial loss. Moreover, be careful with the amount you are investing in. You must not risk the amount that could financially devastate you. 

Explore different trading platforms

There are numerous trading platforms that are readily accessible nowadays. You just have to follow some simple steps to create a trading account. However, you must be careful while choosing the platform. There are many scammers waiting for opportunities to dupe you. That is why you must be very careful before investing any significant amount. Select the change platform that caters to your needs the most.

Understand your own objective for trading

Are you interested in Bitcoin trading because your friends are also doing it? Or do you see yourself as a long-term crypto investor? It is vital that you understand why you want to indulge in Bitcoin trading in the first place. If you have a clear objective, then you can make strategies and plans accordingly. 

Learn to control your emotions

Emotions are an imminent part of us, and sometimes they can get in the way of making a calculated trading decision. The two most preeminent emotions that often rear their heads are fear and greed. Both are destructive and can result in financial losses. You might have heard the term "panic selling". It is actually true and happens frequently. 

Understand hot and cold wallets

Simply trading in Bitcoin is not enough. You must also know more about the wallets – hot and cold. Hot wallets are the online ones that store your private key into devices connected to the internet. However, in the case of cold wallets, the private key is stored in offline devices. To be safe, it is better to have cold wallets for long-term storage and hot wallets for daily tradings. 

A word of caution

Though the market of cryptocurrency seems enticing with staggering profits, you must understand the risk. The volatility and unpredictable price movements can devastate your finances if you are not careful. That is preciously why risk management is crucial. Moreover, try not to make the same mistakes twice. Also, never stop researching the market. 

Wrapping it up

There are a plethora of tips that you can follow to gain success in Bitcoin trading. However, keep in mind that the learning curve is steep, and losses are bound to occur at times. But, that must not deter you from the path or your end goal. You have to ride out the loss and keep moving forward towards the profit. That is the only way to become an accomplished Bitcoin trader.

    ***Let me begin by saying that NONE of the information in this article should be used as investment advice. We’re reviewing Trezor cryptocurrency hardware wallets because they offer the best platform to safely and securely store cryptocurrencies offline. Any other thoughts or beliefs conveyed about cryptocurrencies are only speculative.

Here at Superior Digital News, we talk a lot about PHYSICAL fitness technology, but you should never neglect your FINANCIAL fitness. The ‘new’ world of Bitcoin, Etherum, Dogecoin, NFT’s, and other cryptocurrencies have been gradually gaining momentum with more and more people figuring out beneficial ways to use the platforms. From currency to fraud-proof contracts, the sky is the limit!

     Leading advocates, like Michael Saylor, view cryptocurrencies (specifically Bitcoin) as the safest and most efficient way to store “value” in the history of mankind. Even more than gold! Yet, Mr. Saylor also agrees that the mass adoption of cryptocurrencies is still “a few years” in the future, so this market is very volatile. Hence the term, H.O.D.L. (or buy and Hold On for Dear Life).  

If you’ve already been in the cryptocurrency space for a while, hopefully, you’re already aware of the value of cold storage. If you’re new to crypto and looking to start collecting coins, Trezor is one of the best platforms to set yourself up for success. Here’s why:

     It’s extremely easy to buy any cryptocurrency. You can use any exchange that is compatible with the specific coin you’re looking to stash. The biggest problem is that cryptocurrencies left on exchanges like Coinbase, Crypto.com, and Robinhood are only I.O.U.’s. To TRULY ‘hold’ your crypto assets safely, you need some sort of offline storage.

     Trezor has the perfect tech for all the smart-savers and extreme-HODLers out there. Their family of advanced cryptocurrency hardware wallets feature best-in-class security and ever-expanding compatibility with popular cryptocurrencies. Even if you like the panic features of hardware wallets like ColdCard, they’re better than the alternatives.

     By now, you might be wondering why you can’t just use an offline PC, smartphone (in Airplane Mode), or some other “disconnected” smart device. Besides having numerous other security loopholes, hard drive and battery failures are the Achilles Heel of these types of storage methods. To store your cryptocurrencies, it’s best to have an air-gapped device that’s MEANT to store cryptocurrencies. 

     To better understand, just look at your hardware wallet the same way you look at a safe for your gold. It ONLY needs to be good at storing the gold safely and discreetly. No more and no less. 

     Besides the risk of theft or loss of your cryptocurrencies, the worst part of keeping your crypto on an exchange is the tax liabilities. Most investors are aware of numerous taxable events caused by day-trading or swing-trading stocks, but doing the same with cryptocurrencies has some investors in a bit of a pickle during tax season. 

     Using crypto to purchase things is also a financial jungle. Whether you want to use some Dogecoin to pay for a coffee or you want to pay your employees in Bitcoin, there’s one BIG problem. At least one of the parties in the transaction is going to incur exchange fees and possibly extra taxes on capitol gains, but that’s a debate for another article.

     In a nutshell, unless your local economy adopts one specific coin, cryptocurrencies are best used as a “stored value.” This is where hardware wallets come in. There are plenty of good Bitcoin-only hardware wallets, but Trezor makes it easy to store your Bitcoin, Ethereum, Dogecoin, and most other popular altcoins securely in one digital safe.

     Even though Trezor is our favorite, there are other great cryptocurrency hardware wallets out there. It’s understandable if you feel that other options like Ledger, ColdCard, and KeepKey fit your needs better, but there’s one thing you should always do.

ALWAYS BUY YOUR CRYPTOCURRENCY HARDWARE WALLETS FROM THE COMPANY THEMSELVES!!!

     Going through a 3rd-party supplier is one of the first ways your crypto hardware wallet can get compromised. You can ‘safely’ purchase on Amazon.com, but make sure the seller is the company themselves. On the other hand, THE BEST WAY is to purchase your cryptocurrency hardware wallets directly from the company website. 

     The Trezor One and Model T are both fitted with the essential security and compatibility to meet most investors’ needs, so you really can’t go wrong. If you’re more of an active investor interested in the emerging altcoin market then the Trezor Model T is your best bet. Besides the color screen, it has the best compatibility with various altcoins and plenty of extra security features.  The only thing I don’t like about Trezor is their lack of compatbility with iPhone and iOS in general.

     Here are the main features for both so pick the model that works for you:

The rising popularity of cryptocurrencies (also referred to as ‘crypto’) represents one of the biggest shake-ups of the financial industry in recent history. Digital coins are becoming increasingly favored by consumers who appreciate a form of money not regulated by any one government, and those who see it as a sound investment opportunity.

Australian investors aren’t willing to be left behind, with almost one in five Australians actively investing in digital currency to diversify their portfolios; the most popular options among Australians are Bitcoin, Ethereum, and Ripple. As with any investment, trading crypto is not without its risks; if you’re a budding crypto trader, it’s important to understand exactly what the currency is, and to explore tips that will help you to trade locally. 

Cryptocurrency is essentially digital money. Unlike standard legal tender, cryptocurrency has no physical notes or coins and is typically stored in an online or hardware-based virtual wallet. It is also not controlled by the governments of any one country, meaning that investors in 131 countries can trade it on exchanges found on reputable sites such as Crypto Head. Although seen by many as purely an asset to invest in, digital money is designed to be a functional currency; there are more than 300,000 daily transactions processed globally via Bitcoin alone. 

In recent years, multiple forms of cryptocurrency have been launched. To name a few:

If you’re interested in trading cryptocurrencies, here are some steps that you can take to minimize your risk and make an informed decision about your investment:

Many finance professionals believe that the key to a successful investment portfolio is diversification. The idea behind diversification is that if one of your investments is not performing well, you’re likely to have other stocks or interests that may help to balance out your losses.

If you already have property or share assets, cryptocurrencies may be a good option to ensure that you have a balanced portfolio. Similarly, if you currently have a sum of coin, consider branching out and purchasing a different form of cryptocurrency, as they may experience different peaks and falls in value. In a recent interview, Ric Edelman (founder of Edelman Financial Engines) reported that financial advisors are seeing an increased demand from their clients to diversify their investments; using this strategy could help to minimize your risk if any of your assets fail to perform. 

Like with any investment, it’s important to research your options to make an informed choice on whether they’re right for you. Consider how much money you’re willing to invest without causing undue financial stress, and whether you’re comfortable investing in a potentially unstable asset. As it’s a relatively new form of currency, crypto is in a price-discovery phase where significant swings in value are common. While some investors may see this volatility as a sign of long-term instability, others take comfort knowing that the value of gold was similarly unpredictable when it was unlinked from the monetary system in the 1970s. 

There are many misconceptions about Bitcoin and cryptocurrency in general; speaking to experts and doing your due diligence is critical prior to making any purchases or trades.

One of the most critical tips for trading cryptocurrency in Australia is making sure that the exchange you’re using is authorized to operate in the country. Cryptocurrency exchanges are one of the most straightforward ways to invest in or trade digital currency, and there are many to choose from. A reputable resource such as Crypto Head can assist you in finding the best exchanges local to each major country; any exchanges operating in Australia must be registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC). 

There are some tax implications that you need to be aware of as an Australian trading cryptocurrency. In Australia, cryptocurrency is treated as property and subject to the Capital Gains Tax (CGT.) If you take part in mining or staking efforts to gain more digital coin, this income will fall under regular income tax. Any cryptocurrency deals with foreign exchanges may also come with tax consequences in the associated nation. The Australian Tax Office (ATO) recommends for anyone who’s involved in cryptocurrency transactions to keep good records of them; your accountant can help you navigate the tax implications of cryptocurrencies, but they’ll likely need the relevant information to do it.

One of the most critical tips for trading cryptocurrency in Australia is making sure that the exchange you’re using is authorized to operate here. Although Bitcoin and other cryptocurrencies may seem like an easy way to build your wealth, any investment that you consider should be carefully planned out. Prior to trading crypto or investing in any of them, ensure that the exchange is licensed to operate in Australia, and discuss your personal situation with a financial expert.

If you’re looking to add to a diverse portfolio, or you’d simply like to use an alternate form of money, digital currency could be a good option for you.

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Justin Sun, Roger Ver, Tim Draper, Adam Draper, and Eric Richmond of Coinsquare provide insights into Bitcoin's future for 2021.

We are just 15 days into the new year, and it is already feeling like the seventh season of a fairly bloody one-hour HBO drama. (I've already mentioned which one .) Angry mobs in the Capital building, conspiracies and betrayals, and most of us sheltering in place just trying not to get the virus. 

In the meantime, Bitcoin's b-plot is taking off.

To point us in the right direction in 2021, I have surveyed some of the most prominent leaders, founders, investors, evangelists, and innovators in blockchain and crypto to share their insights on Bitcoin's trajectory for the year. Here are their responses edited for length. 

Tim Draper Founder of Draper Associates

"Nothing is steady when one technology supersedes another. As Bitcoin eclipses the government currencies and the banking system, there are going to be many fits and starts. I stand by my $250,000 prediction by end of 2022 or early 2023.

As institutions move from thinking it is crazy to imagine a new currency to recognizing Bitcoin as a "must-have" for every portfolio...

While I am most interested in Bitcoin, the currency leader, ETH and XTZ and others have paved a new path for smart contracts and proof of stake that will drive governance of currency into the future. I like MKR as an insurance company and ANT and JUR as new forms of liquid democracy. I like XRP and BCH for their proliferation, though centralized. I like KEEP for its ability to open up new forms of finance. (There are) many others.

Bitcoin has the potential to open up the world and put all (at least virtual) workers on the same platform. Where one Bitcoin is always one Bitcoin, and if people are paid in Bitcoin, they know what that means..."

Justin Sun, Founder of and CEO of TRON and CEO of BitTorrent and Peiwo

"Bitcoin has been one of the top stories of 2021 everyone and their grandma is talking about BTC this year. Doomers, nocoiners, and bears like to use every opportunity to point to the death of bitcoin or to equate crypto to the dotcom bubble. In my opinion, the recent correction of BTC is a reflection of a healthy market with active traders and investors. BTC still has a ways to go in terms of price growth, In December 2020, a leaked Citi report revealed one of the bank's senior analysts thinks bitcoin could potentially hit a high of $318,000 by December 2021. Although it's anyone's guess what the price of BTC will be at the end of 2021, we know for certain that the bull market is here and it looks like it's here to stay. 

Historically, we have seen the altcoin season take off as Bitcoin achieves record-high prices. Notably, when BTC breached its all-time high in the past two bull cycles, altcoins have typically rallied in its wake... Altcoins like ETH and LTC don't need me to cheerlead on their behalf and have already seen significant gains during this bull run. However, with negligible transaction fees and a rapidly expanding DeFi ecosystem, TRON is quickly heating up as a hotbed for DeFi innovation..

The average individual buying crypto during a bull run has minimal to no real grasp of cryptonomics, the impact of regulation, institutional investment, buyer sentiment and the global economy impact the price movements of BTC. This is enough to scare most novice investors, one thing to keep in mind is that the crypto market is still moving towards its equilibrium and we are bound to see pumps and retracements..."

Roger Ver, Bitcoin Evangelist and Angel Investor, CEO of Bitcoin.com

"... In terms of its price, I see no reason why it couldn't keep going up for a long time. It has the brand name and if you talk to people on the street, nobody outside of the small cryptocurrency bubble has ever heard of the scaling debates or that Bitcoin is no longer p2p cash. They're buying on its past potential, its name, and excitement about making money. And of course, to the degree it retains its qualities as money, people want that. More importantly, many of the scaling problems that could effectively limit the number of people who could be involved in BTC at any time have been "solved" by centralized services like PayPal, Cashapp, and exchanges..

I think there is going to be a growing demand for cryptocurrencies like Bitcoin Cash (BCH) that can actually handle massive on-chain traffic, especially with everything going on in the world. And when I talk to big investors, many of them are starting to look at Bitcoin and ask "can it really achieve the same kind of gains it has in the past?" I think a lot of them are doubtful the price will go up at the same rate and they're going to be looking for the next thing to invest in because there is little reason to hold Bitcoin unless the price is increasing. 

...A lot of the influential developers and companies today are unable or unwilling to see the indirect consequences of rate-limiting Bitcoin. For example, a system in which fees will at scale cost thousands of dollars will have the effect long term of centralizing funds on single addresses, which hurts privacy, and on exchanges, which hurts privacy and censorship resistance… Similarly, in the effort to essentially put price controls on the cost of operating a full node so that everyone can run one, the resulting high fees have limited the number of people who will effectively run one because they won't be able to afford to transact on-chain in the first place. You might in fact have ended up with more nodes on the whole, even if they cost much more to run if fees were low so everyone could participate in economic activity on the Bitcoin chain.

This is what people are missing, that technical development decisions that seem smart in the short term (who doesn't want cheaper prices?!) have profound and harmful economic consequences that might take decades to be realized..."

Adam Draper, Co-Founder and Managing Director of Boost VC

"My 1 BTC is still worth 1 BTC. It's that other currency, US Dollars, that keeps falling.

At the end of the day, the value delivered to the end consumer is the only thing that matters. If Alt-Coin season comes it's because the value is starting to be real. BTC already has the store of value feature that is super helpful (and) institutions are flocking.

Bitcoin gave us scarcity online. We are in the skeuomorphic phase. We are learning where replacing third-party trust with mathematical proof is helpful. The opportunity is not about the focus on technology, it's about enabling new financial products and granting access to value to the rest of the world. The focus is on decentralizing the internet -- pick around there, and you will find the biggest opportunities. I'm excited about Unstoppable Domains and others in that space."

Eric Richmond -- Chief Operating Officer & VP, Legal at Coinsquare

"I anticipate a steady climb for Bitcoin. I predict that there will be swings in the market and the price may come back down to the US$20K range or under, but the overall trend line for the year will be positive.

People saw what happened in 2017 when they put faith in projects that were not close to being live. There will not be the same frenzy across as many projects as there was in 2017, but a few Altcoins will flourish in 2020 -- especially the ones with real utility, such as Ethereum.

Corporations, institutional investors, family offices, and hedge funds all want Bitcoin to diversify their portfolios. With so much demand for Bitcoin - both institutional and retail - the hype is justified."

Regulation is the biggest factor. In the long run, this will be positive for BTC, but there will be bumps in the road, such as the recent FINCEN guidance." Conclusion

If the incredible rise of Bitcoin resembles 2017, the way experts are talking about crypto has a palpable change in tone. The vision of decentralized global currency and transactions is consistent, but retail and institutional investors' reasons for entering the crypto market are more about leveraging a deflationary asset and less about decentralization, autonomy, and privacy -- and the goal of mainstream adoption is much closer on the horizon. White papers and use cases have become real users and the global events including the pandemic and weakening US economy have only lent more relevancy to Bitcoin. 

Bitcoin is the flag leading the charge to the mainstream global audience.  What remains to be seen is the rate of adoption now that the die-hard crypto enthusiasts have to share their innovations with the world. 

My thanks to all who participated. I will share more responses in a second installment of the article. - Justin

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For those following the cryptocurrency markets, this weekend saw a big milestone as Ethereum passed the $3,000 mark. That still pales in comparison to Bitcoin’s price tag of nearly $58,000 per coin (at the time of this writing), but it reinforces that there is growing interest in digital currencies among the general public.

As such, I thought it was worth re-surfacing a small bit my colleague, Jenn Marston wrote about Bitcoin in her most recent restaurant tech newsletter over the weekend:

Landry’s a restaurant group that owns Morton’s The Steakhouse and Bubba Gump’s Shrimp, said in a recent interview that most of the company’s restaurant brands will start accepting bitcoin as payment in the coming months. CEO Tilman Fertitta cited “the next 90 days” as a timeframe.

Cryptocurrencies actually have a long history with food. Pizza, of all things, was one of the first things “purchased” with Bitcoin. In 2010, Laszlo Hanyecz traded 10,000 Bitcoins with someone in exchange for them ordering him Papa Johns.

We’ve seen crypto gain acceptance in fits and starts since then. Other restaurant chains have dabbled in accepting Bitcoin, though these are more one-offs in various regions: Burger Kings and Pizza Huts in Venezuela, KFC Canada (for a limited time), some Subway stores, for example. Ramen vending machine, Yo-Kai Express accepted Bitcoin at one point.

But we’re starting to see more acceptance of crypto from big, established companies. Whole Foods started accepting cryptocurrency back in 2019. In April of this year, you could start buying Starbucks with Bitcoin through the Bakkt digital wallet. Chipotle used Bitcoin as the backbone of a promotional stunt. Landry’s jumping into crypto is another big company pushing acceptance of Bitcoin forward.

This is not a financial blog, so this post should not be construed as advice. But as more retail investors start buying crypto, and well established companies like PayPal and Tesla begin to adopt Bitcoin, is there a bigger opportunity for food tech?

At first, adopting cryptocurrencies might seem like a natural fit for many of the companies we cover. Restaurants, grocery retailers, vending machine companies are all looking to streamline and automate much of their operations. Adding a universal digital currency available anywhere in the world could, in theory, could remove some friction from the transaction process, and generate more sales.

But there are definite pitfalls to adopting a cryptocurrency. The whole process is still very complex. Not only are there are ton of cryptocurrencies with various utilities and values (and there are some shady players out there), just the act of buying and spending cryptocurrency is still complicated for the average consumer. Cryptocurrencies are also still volatile. Yes, the overall trend for Bitcoin over the past year has been a hockey stick, but it still has wild valuation swings, so the money you take in today could be worth a lot less an hour later. And then there are tax and regulatory issues around crypto currencies that haven’t been fully figured out yet.

We appear to be at some kind of public perception inflection point for cryptocurrencies. While this bull run could be interrupted with a severe downturn, there are more people than ever learning about, buying and spending Bitcoin. That’s an opportunity for sure, but one with no small amount of risk.

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Tron – What Is It, History and How to Buy

Tether: What Is It, History and How to Buy

Tether is a blockchain-based cryptocurrency that has its roots in the U.S. It has some controversial history, as it was one of the first cryptocurrencies to peg its value directly to an existing fiat currency. Originally, each Tether token was said to be valued at $1 in U.S. currency, though that backing has since changed. These tokens, which were formally known as “Realcoin,” currently trade under Fintech Zoom USDT. Investing in cryptocurrency has become very popular, and a financial advisor can help you get started.

What Is Tether?

Tether is an open source, peer-to-peer blockchain digital currency. Blockchain allows data to be stored in multiple locations in chronological order. It’s used to protect the system from being overtaken by a single entity. Many cryptocurrencies use blockchain outside of Tether.

Tether is, in theory, tied to a fiat currency, which is the U.S. dollar. As a result, Tether is referred to as a “stablecoin.” This is different from cryptocurrencies like Bitcoin and Ethereum, whose prices fluctuate significantly and whose value is determined on a more speculative basis. That said, a report from CryptoCompare shows that nearly 80% of Bitcoin trading is done in Tether, making it a major source of crypto liquidity.

This type of crypto is designed to be literally tied to the value of the fiat currency that it represents. In other words, each U.S. Tether token is supposed to be worth $1 at all times. However, this has been the subject of some controversy. In 2019, Tether revealed that it wasn’t 100% backed by fiat currency, and that each U.S. Tether token was backed by closer to $0.75.

Currently, there are four Tether stablecoin currencies: USDT (tied to the U.S. dollar), EURT (tied to the Euro), CNHT (tied to the Chinese yuan) and XAUT (tied to one ounce of gold per token).

How to Buy Tether

Like many cryptocurrencies, you can buy Tether through any global exchange, like Kraken, Binance or Kriptomat, for example. Most global cryptocurrency exchanges work similarly. You create an account, fill out your personal information and fund your account using fiat currency. You can then use the funds you deposit to buy cryptocurrencies such as Tether.

Keep in mind that you’ll be buying Tether from a brokerage and not directly from the blockchain. Once you own Tether on a global exchange, you can trade it at its market value or buy more. You may also want to use a cryptocurrency wallet to store your crypto holdings.

You cannot buy fractional shares of Tether, and there is no fixed amount of the cryptocurrency available. Tether also cannot be mined.

Tether History

Tether tokens are issued by Tether Ltd. It was created in 2014 under the name Realcoin, and it rebranded to Tether thereafter. Brock Pierce, Reeve Collins and Craig Sellars are the co-founders of the cryptocurrency, which first launched on the Omni Layer of the Bitcoin blockchain. It began trading in 2015.

The founders launched three types of Tether, each tied to a different fiat currency with each token said to be worth one unit of said currency. Currently, it is the largest stablecoin in terms of market capitalization. It is also a part of other protocols than the Omni Layer of Bitcoin, including Ethereum, bitcoin cash, TRON, EOS and Liquid Network.

Tether hasn’t been without its issues, though. Most notably, in 2019, iFinex Inc., the parent company of Tether Ltd., was accused of trying to cover up an $850 million loss by taking over around $700 million of Tether’s cash reserves and using it to repay investors. It wasn’t clear if there was any wrongdoing, though Tether vehemently denied it in the court filings. According to the company, the money had simply been seized and safeguarded.

In 2017, Tether went through an alleged hacking where over $31 million worth of tokens were stolen. After this event, the company didn’t perform an audit that was designed to ensure it would have enough in reserves. The company even went as far as to fire its audit team, with the issuing of a subpoena coming not long after.

Should I Trade or Sell Tether?

Tether is less volatile than many other cryptocurrencies, simply because it’s directly tied to a fiat currency. So, if you’re thinking of buying or trading Tether, you shouldn’t expect a windfall or the type of volatility you might see from a cryptocurrency like Bitcoin or Dogecoin.

In addition, there are very little speculative elements to Tether, which makes it a relatively safe and stable cryptocurrency investment. Some even consider it akin to buying and holding cash or another foreign currency. If you anticipate large fluctuations in the market for the U.S. dollar or the Euro, for example, this could be a worthwhile investment.

Bottom Line

Tether is a common type of cryptocurrency, making it one of the more recognizable names in the crypto space. Despite a handful of controversies that the currency and its company have run into, it has still proven to be a rather secure and stable cryptocurrency. Again this is mainly due to the fact that it is tied to the value of existing fiat currencies. That means it’s not subject to intense market swings like Bitcoin can be.

Tether is immensely popular and easy to buy on any cryptocurrency exchange. So if you’re interested in getting into the crypto game, this could be a good place to start.

Tips for Investing in Cryptocurrency

Cryptocurrency investments are extremely attractive, but they’re much harder to understand than a simple stock or bond. That’s where a financial advisor who’s familiar with crypto can be an important partner for you and your family. Luckily, finding the right financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors in your area in just five minutes. Get started now.

Whether you’ve been investing in cryptocurrency for years or are just getting started, it pays to be prepared. SmartAsset’s free investment calculator can help you determine what kinds of returns you need to reach your goals.

Where there’s money being made, you’ll likely find Uncle Sam nearby. Investing is no different, and hitting it big on the stock market can lead to sizable taxes if not handled correctly. Use SmartAsset’s capital gains tax calculator to figure out how to minimize your taxes.

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Tron – What Is It, History and How to Buy Tags: Tron