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With the cumulative market cap falling by nearly 2% over the last 24 hours, most cryptos were mostly in the red on 22 October. Some altcoins, in fact, showed signs of correction too. 

Polkadot and Monero, for instance, projected superior buying pressure, while Ethereum Classic exhibited signs of decreasing bullish power.

Polkadot [DOT]

DOT moved up by 1.76% and was trading at $44.93, at the time of writing. It also noted a 13.56% seven-day increase, indicating an overall uptrend in its price trajectory. Bullish trendlines confirm the uptrend and showed how DOT bulls were keen on sustaining their momentum after breaching the previous support level at $33.19.

This momentum led to a strong support level around $42-level.

The Relative Strength Index (RSI) was at the 63.89-mark, picturing an inclination for the bulls.

The MACD was above the Signal Line, while the MACD histogram flashed green signal bars hinting at bullish tendencies. However, the Volume oscillator and histogram saw a sharp decline in trading volumes. This reading signaled a possible reversal in the near term.

Ethereum Classic [ETC]

After barely poking its resistance point that stood at the $60-mark, ETC fell by nearly 2.58% over the last day and traded at $56.29. The support level was registered at $45.94. Key technicals directed at a possible correction in prices.

The RSI saw a dip of 11 points from the overbought territory to the 60.16-mark over the last day, indicating the decreasing power of the ETC bulls. The Awesome Oscillator flashed red signal bars, hinting towards a possible advantage for the bears. The +DI line seemed to plunge towards the south and confirmed the previous readings that suggested a bearish trend.

The Average Directional Index displayed a strong directional price trend as it stood at the 37.6-mark. Analysis of the above indicators and the decreasing volume trends bring forth the possibility of a further correction in prices.

Monero (XMR)

XMR hiked by 3.02% over the last 24 hours and was trading at $273.23, just below its resistance point that stood at $276.29. The altcoin displayed momentum in favor of the buyers. 

The RSI was above the half-line and stood at the 63.86-mark, suggesting that the buying pressure exceeded the selling strength. 

The Awesome Oscillator flashed green signal bars, hinting at a bullish trend. The Squeeze Momentum Indicator started to display grey dots, suggesting the end of a squeeze period and the possibility of high volatility in the near term.

Where to Invest?

Related Topics:ETCPolkadot (DOT)XMRUp Next

Dogecoin’s rally will wait until it negates this bearish setup

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ANALOG: Creating the world’s first blockchain-powered timegraph

Yash Majithia

With a background in financial reporting and consulting, Yash is a full-time journalist at AMBCrypto. He has a keen interest in blockchain technology, with a primary focus on technical analyses of cryptocurrencies.

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Non-fungible token technology has many potential use cases in the blockchain world. TOMI is releasing a limited-edition set of NFTs to provide access to their main sale. With very few NFTs remaining for sale and all proceeds used to Purchase Tomi, adding value for Tomi holders. Tomi tokens purchased with these funds will be burned to improve scarcity, time is of the essence!

Get 110 USDT Futures Bonus for FREE!  The TOMI NFT Sale Pops Off

Although many non-fungible token projects can generate a bit of hype and excitement, the momentum surrounding TOMI’s NFT collection is off the charts. Not only are crypto enthusiasts showing increasing interest, but various influencers are getting on board. Additionally, these artistic and exclusive Tomi Heroes NFTs are necessary to access the project’s upcoming presale. To date, the team has raised over  260ETH – or just shy of $1m USD – in this sale, further confirming the growing demand for these NFTs.

The first round started on September 7th, featuring the DAWN RISING NFT, available for purchase at the price of 0.1271 ETH, which quickly sold out. Round 2, sees the GLITCH GLOW NFT being sold for a price of 0.1144 ETH and Round 3 is also now underway until September 21st, with NFT tickets selling fast. To bag your NFT today and secure a spot, visit https://www.tomitoken.org/tomi-nft.html

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Tomi will use all proceeds from the NFT sale to buy TOMI tokens during the public sale to create even more buzz surrounding this project. Once the purchases are made and the ETH has been swapped for TOMI, the entire balance will be burned. The team made a wise decision to make the token more scarce and a unique take on leveraging NFT technology for that particular purpose.

Various NFT projects have proven to be successful in recent months. CryptoPunks is the most noteworthy example, as it currently tops $1.219 billion in all-time volume. Art Blocks isn’t far behind, with over $842 million in total sales. There is no reason to think the Tomi NFTs won’t go the same route, as they are very tough to obtain- the first round sold out, and round 2 and 3 are selling fast, indicating how the demand is rising and time is running out for those who do not own an NFT providing access to the TOMI presale yet.

Establishing A Secondary Market

The Tomi Heroes NFTs will be accessible through OpenSea after the sales run out. However, it may prove challenging to pick them up, as most holders will want to wait for the TOMI presale and the access these tokens provide. In addition, it is essential to establish a secondary market for the non-fungible tokens, as they are still limited edition collectibles even after the presale concludes.

Per OpenSea, there are currently over 1,700 NFT holders, and the NFTs have a floor price of 0.1 ETH. More importantly, there is over 260 Ether in trading volume so far, lowering the number of available non-fungible tokens investors can obtain to be part of the upcoming TOMI presale rounds.

TOMI Chooses Polygon & SushiSwap

Due to the high gas fees on the ETH network, TOMI has chosen to launch its sale on the Polygon network and through SushiSwap. This shows the commitment by TOMI to operating on networks that empower and push the next generation of DeFi projects to the forefront of the media.

If you are interested in the TOMI token sale, make sure to pick up one of the Tomi Heroes NFTs. Having access to one of the five presale rounds – which all last for just 30 minutes –  is crucial to maximizing return on investment.

There are a few hundred NFTs up for grabs in round 2 & 3, but time is running out quickly! Visit the presale page to get your TOMI NFT today.

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BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? 11 mins ago 1 day ago 1 day ago 1 day ago 2 days ago 2 days ago

TORONTO--(BUSINESS WIRE)--Tokens.com Corp. (NEO Exchange Canada: COIN) (Frankfurt Stock Exchange: 76M) (OTCQB US: SMURF) (“Tokens.com” or the “Company”), a publicly traded company that uses shareholder capital to purchase digital assets used for crypto staking and Decentralized Finance (“DeFi”), is pleased to announce that the Company has entered into a letter of intent to purchase a 50% stake in Metaverse Group, in the form of a share swap, making it one of the highest value Metaverse land acquisitions ever.

Metaverse Group is one of the world’s first virtual NFT based real estate companies and owns a portfolio of premium virtual NFT real estate properties in major blockchain-based Metaverses including Decentraland, Somnium Space, The Sandbox, Cryptovoxels and Upland.

Metaverse Group operates additional services including virtual property development, property management, and assisting companies with marketing and advertising in the Metaverse.

The immediate roadmap of Metaverse Group is, firstly, to complete the structuring of the world’s first Metaverse Real Estate Investment Trust with 100% NFT land assets, melding the virtual world with the real world to create a real estate product that has never existed beforehand. Secondly, Metaverse Group will build out a variety of experiences to provide enterprises around the world with a simple entrypoint to gaining exposure to virtual worlds through a rental model that will generate recurring revenue for Tokens.com.

“The Metaverse is going to have a major global impact on the way that consumers interact, socialize and shop. The blockchain-based NFTs that power the Metaverse are one of the most natural use cases of blockchain technology and are driving thousands of new users to cryptocurrency each day. Metaverse Group has embraced the Metaverse from its earliest days and shares our vision of giving public market investors exposure to innovative blockchain technologies,” commented CEO, Andrew Kiguel of Tokens.com. “We look forward to monetizing these digital land assets to generate recurring income in line with Tokens.com’s vision of providing public market investors exposure to yield-generating digital assets. Ultimately, we see Metaverse Group as being a significant land owner and developer in the digital world with the ability to pay out distributions in a REIT structure,” added Kiguel.

Metaverse Group was founded as a joint venture between GDA Capital Corporation and Wolfest Woods with a board that consists of Michael Gord and Jason Cassidy, two of the earliest adopters of blockchain technology in Canada with a long standing track record of building first to market disruptive technology businesses. Both Gord and Cassidy will continue as partners with a focus on building out Metaverse Group’s Metaverse business.

“We are excited to partner with Tokens.com to significantly accelerate our roadmap at Metaverse Group. The deep capital markets experience of the leadership team at Tokens.com provides tremendous value as we look to build out and raise capital for the first Metaverse REIT in the world. This also makes Tokens.com one of the first public companies in the world to have exposure to the Metaverse, which presents a unique opportunity for our team at Metaverse Group,” commented Metaverse Group Co-Founder, Michael Gord.

A metaverse is an online world where people can work, play games and communicate in a virtual environment. Tech firms have implemented metaverse elements in popular games including Animal Crossing, Fortnite and Roblox. Other technology companies such as Microsoft have also embraced the metaverse as the convergence of the virtual and physical world which has only been accelerated with the pandemic. Facebook CEO, Mark Zuckerburg made headlines recently when he said the world’s most popular social network will become a metaverse company(1). These elements include planning live events such as concerts, conferences, pitch competitions and tournaments where millions of players can interact from around the globe.

Tokens.com and Metaverse Group expect to complete this transaction in Q4 of 2021.

(1) se-interview

About Tokens.com

Tokens.com Corp utilizes staking technology to generate revenue from its inventory of cryptocurrency and Decentralized Finance (“DeFi”) based tokens. Through it’s growing inventory of digital assets, Tokens.com provides public market investors with a simple and secure way to get exposure to cryptocurrencies, DeFi, and Non-Fungible Tokens.

The Company’s common shares are listed under the symbol “COIN” in Canada on the NEO Exchange, as “76M” on the Frankfurt Stock Exchange and as “SMURF” on the US OTCQB Market.

Further information can be found on the Company’s website: Tokens.com.

Keep up-to-date on Tokens.com developments and join our online communities at Twitter, LinkedIn, and YouTube.

About Metaverse Group

The Metaverse Group is the first vertically integrated real estate company focused on the metaverse economy in the world. The group, with its global HQ in Crypto Valley in Decentraland, has expanded globally and consists of several firms focused in diverse areas of the metaverse industry including real estate acquisition, development, real estate investment trust management, metaverse district development, metaverse capital markets and other related services.

This news release includes certain forward-looking statements as well as management’s objectives, strategies, beliefs and intentions. Forward looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of cryptocurrencies, as described in more detail in our securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.

Contacts

Tokens.com Corp. Jennifer Karkula, Head of Communications Email: contact@tokens.com Media Contact: Megan Stangl – Talk Shop Media Email: Megan@talkshopmedia.com

Contacts

Tokens.com Corp. Jennifer Karkula, Head of Communications Email: contact@tokens.com Media Contact: Megan Stangl – Talk Shop Media Email: Megan@talkshopmedia.com

If you are a crypto enthusiast looking to invest in cryptocurrency mining with minimum risk and maximum rewards, this article is for you. You may have already tried your luck investing in different mining products without much success. However, there is a new star emerging in the crypto market that has already started changing people’s lives. AsicWay is a just launched technology company that promises to make crypto mining simple yet profitable like never before. Regardless of your level of knowledge and experience, AsicWay offers a myriad of investment opportunities with superfast return on investment. If you have some basic idea about crypto mining, you would know that profitability of crypto mining depends mostly on the hash rate and power consumption of the hardware. This is where AsicWay has stolen the show by delivering hash rates that are unheard of in the industry. In simple words, this means that compared to other products, AsicWay miners have a higher probability of finding the next block and receiving rewards. In general, mining with a higher hash rate demands a higher consumption of power. However, AsicWay has done well to maintain reasonably low power consumption despite of extraordinarily high hash-rates. The hash rates and power consumptions for AsicWay’s AW1, AW2, and AW PRO miners are mentioned below.  BTC (TH/s) LTC (GH/s) ETH (GH/s) XMR (MH/s) Power Consumption (W)AW1          380               40                   2.5                3                        650AW2          610               64                    4                  5                        850AW PRO   1950             200                13                 16                      2200The figures seen above have impressed many crypto experts and they feel that these products are capable of making a gamechanging impact on the way crypto mining is done. Most of the earliest users have already been able recover their investment in less than 30 days. In the present economic scenario, it is extremely difficult, if not impossible, to find an invest option as attractive as AsicWay. Once the investment is recovered, the potential earning can be mind-boggling.  Projected earning potential for AsicWay AW PROBitcoin: $678.35/day, $4748.42/week, $20.35k/month, $247.60k/yearLitecoin: $805.91/day, $5641.35/week, $24.18k/month, $294.16k/yearEthereum: $899.75/day, $6298.24/week, $26.99k/month, $328.41k/yearMonero: $1099.59/day, $7697.11/week, $32.99k/month, $401.35k/yearProjected earning potential for AsicWay AW 2Bitcoin: $208.15/day, $1457.08/week, $6244.63/month, $75.98k/yearLitecoin: $257.01/day, $1799.05/week, $7710.21/month, $93.81k/yearEthereum: $267/day, $1869/week, $8000/month, $97.50k/yearMonero: $321/day, $2253/week, $9658/month, $117k/yearProjected earning potential for AsicWay AW 1Bitcoin: $129.32/day, $905.26/week, $3879.69/month, $47.20k/yearLitecoin: $160.30/day, $1122.10/week, $4809/month, $58.51k/yearEthereum: $170.18/day, $1191.27/week, $5105.44/month, $62.12k/yearMonero: $207.94/day, $1455.56/week, $6238.10/month, $75.90k/yearIt is true that making this kind of earning in today’s economic condition requires a lot of hard work, specialized knowledge and skills, and some degree of luck. However, with AsicWay, none of these factors are essential at all. AsicWay delivers all its mining products pre-configured with Linux based system and a simple to use interface. Anyone can start mining with these miners because one just needs to connect the machines to a power socket and access it using home internet connection. To make this investment even more profitable for the users, AsicWay covers the delivery and custom fees for them. It is true that purchasing crypto miners can be a large investment for some individuals. This is why it is important to be 100% sure about the company’s legitimacy before investing. AsicWay is the brainchild of a team of technology leaders and visionaries with the goal of taking the benefits to crypto mining to the common man. Unlike many crypto companies with dubious business practices, AsicWay can be contacted very easily via the email addresses and telephone numbers mentioned in the company’s website. If you have any doubts, the support executives can also help you choose the right product based on your priorities. There is no denying the fact that there are many investment options these days, but investing in AsicWay miners is quickly gathering momentum because of what it has to offer. If you are looking for a long-term income opportunity without taking too many risks, AsicWay is probably the best bet.

Cryptocurrency has been making headlines in recent years as a viable means of earning and investment. Most people in the crypto community are either traders or investors. This means that they buy coins or tokens at a lower price and wait for their value to increase before they can make a profit.

However, you can earn cryptocurrencies without having to put money down for it. If you don’t have large funds to trade or invest in cryptos, you should consider mining. On this page, you’ll discover a list of the best cryptocurrencies to mine in 2021.

Before you go ahead, you should check out CoinList, where you have access to the most cutting-edge crypto innovations while also assisting the most significant crypto projects to grow and thrive.

RavenCoin is one of the most profitable coins to mine in 2021. Bram Cohem invented this coin and launched it on January 3rd, 2018. It was created to handle the efficient creation and transfer of assets from one party to another. Thanks to its KAWPOW protocol and X16R algorithm, you can easily mine RVN on your mobile device or personal computer. It also operates with the same asset transmission system as Ethereum and Bitcoin blockchain.

To start mining RVN, you need to create a wallet and generate a wallet address where you can deposit your RVN. Then proceed to select a mining pool. Blocksmith, Bsod, and Cruxpool are excellent platforms to begin your RVN mining.  

Monero has attracted a lot of attention from investors and miners because of its exceeding takeoff. Its value escalated from $10 in January 2017 to $494 in January 2018. This coin operates on the CryptoNote system, which emphasizes the importance of equity in crypto mining.

With a market capitalization of more than $3 billion, Monero is regarded as one of the most profitable cryptocurrencies to mine in 2021. It has an unlimited supply and uses the RandomX hash algorithm as its hash function. That’s why it has an impressive unique block time of 2 minutes.

3. LiteCoin (LTC)

Litecoin is a peer-to-peer cryptocurrency project that is distributed under the MIT/X11 protocol. The developers of this coin adapted the programming from Bitcoin’s system. But he improved the transaction speed, thus reducing its gas fee.

Litecoin is one of the older names in the crypto community. Mining it for profit is never a bad idea since it’s globally accepted as a seamless means of payment. LTC employs SCRYPT protocol, which eliminates the need for ASIC devices for mining.

Cardano is a formidable cryptocurrency with a bright potential ahead of it. This coin has a flexible network and executes transactions at the speed of light, ensuring a smooth user experience. Cardano mining is a little different from the common practice. Instead of using hardware to generate the assets, Cardano blockchain uses the Proof-of-Stake system to validate blockchain transactions.

The good news is that this programmable blockchain has the potential to outperform Ethereum and Litecoin. Additionally, Cardano can also be used as a platform for other digital currencies and applications.

5. Ethereum Classic (ETC)

Ethereum Classic is popular in the crypto world. This digital asset aims to keep the Ethereum blockchain intact. It was launched in July 2016, but its performance in the past two years has made it an excellent option for mining.

Mining ETC is relatively easy. All you need to do is get efficient mining hardware and software, create a wallet address, and start mining. GPU mining machines are the best hardware for this purpose. GMiner and NBMiner are popular softwares to try. The unique thing about ETC is that it has a shorter block time compared to other altcoins. Its block time is roughly 13 seconds.

Dogecoin is a popular cryptocurrency with the dog logo. Billy Markus and Jackson Palmer created this coin in 2013 as a meme-inspired joke, but five years later, Dogecoin has gone far ahead of most altcoins. It has broken numerous records and shows no signs of slowing down.

It employs the Scrypt algorithm, which is comparable to Litecoin in that it does not allow users to add Doge to their portfolio by purchasing expensive devices. Meanwhile, you can use a GPU/CPU to ensure its efficient performance and make mining seamless.

7. Monacoin (MONA)

Just like Dogecoin, Monacoin is a meme coin with a seemingly active community in Japan. The cryptocurrency was developed in 2013 by an anonymous individual under the alias Mr. Watanabe. However, this project that started as a joke has become a serious commodity offering reasonable earning potential for miners and investors.

The good thing about this cryptocurrency is that miners do not need ASIC devices to earn. Unlike other coins, mining MONA requires very little capital. Mining a block and qualifying for a reward usually takes less than 2 minutes.

When mining cryptocurrencies, you must consider your mining device’s hash rate, electricity costs, and network range in your location. Mining profitability is highly dependent on these factors.

Meanwhile, if you are looking for where to access the best new tokens before they get listed on other exchanges, Coinlist is the ideal place to check. It’s a reliable platform for new cryptocurrency offerings.

Market Analysis

One of the familiar themes seen in previous crypto market cycles is the shifting market caps, popularity and ranking of the top 10 projects that see significant gains during bull phases, only to fade into obscurity during the bear markets. For many of these projects, they follow a recognizable boom-to-bust cycle and never return to their previous glory. 

During the 2017–2018 bull market and initial coin offering (ICO) boom, which was driven by Ethereum network-based projects, all manner of small smart contract-oriented projects rallied thousands of percentage  to unexpected highs.

During this time, projects like Bitcoin Cash (BCH), Litecoin (LTC), Monero (XMR) and ZCash (ZEC) also rotated in and out of the top 10 ranking, but to this day, investors still argue about which project actually presents a “useful” use case.

While all of these tokens are still unicorn-level projects with billion-dollar valuations, these large-cap megaliths have fallen far from their previous glory and now struggle to stay relevant in the current ecosystem.

Let’s take a look at a few of the current projects that threaten to unseat these dinosaur tokens from their perch.

Dollar-pegged stablecoins take the stage as the most “transactable” currency

Bitcoin’s (BTC) original use case stipulated that it would simplify the process of conducting transactions, but the network’s “slow” transaction time and the cost associated with sending funds makes it a better store of value than a medium of exchange when the other blockchain networks are considered as options.

Terra (LUNA), a protocol focused on creating a global payment structure through the use of fiat-pegged stablecoins, has emerged as a possible solution to the issues faced when trying to use the top proof-of-work (PoW) projects as payment currencies.

The main token used for transacting value on Terra aside from LUNA is TerraUSD (UST), a U.S. dollar-pegged algorithmic stablecoin that forms the basis of Terra’s decentralized finance (DeFi) ecosystem. The market cap of UST has steadily been increasing throughout 2021 as activity and the number of users in the ecosystem increased.

The recent addition of Ether (ETH) as a collateral choice for minting UST on Anchor protocol has given token holders a way of accessing the value in their Ether without having to sell and create a taxable event.

This opens the possibility for other tokens such as BTC to be utilized as collateral to mint UST that can be used in everyday purchases.

As it stands, the borrowing APR for UST on Anchor stands at 25.85%, while the distribution APR is at 40.67%, meaning users who borrow UST against their LUNA or Ether actually earn a yield while borrowing against their tokens.

From privacy coins to privacy protocols

Privacy is also a cornerstone characteristic of the cryptocurrency sector and privacy-focused projects like XMR and ZEC offer obfuscation technologies that support covert or what, for a time, were thought to be untraceable transactions.

Unfortunately, regulatory concerns have made it more challenging for users to access these tokens, as many exchanges have delisted them for fear of drawing the ire of regulators and the overall demand among crypto users has declined alongside their availability.

Their lack of smart contract capabilities has also limited what these protocols are capable of and, so far, users do not appear to be too excited about utilizing Wrapped Monero (WXMR) for use in DeFi, as the token loses its privacy capabilities in the process.

These limitations have led to the development of privacy-focused protocols such as the Secret Network, which allows users to create and use decentralized applications (DApps) in a privacy-preserving environment.

Privacy features are not common among smart contract capable platforms in the crypto ecosystem, which makes Secret something of an experimental case in the ever-evolving Web 3.0 landscape.

Secret is also part of the Cosmos ecosystem which means it can utilize the Inter-blockchain Communication (IBC) protocol to seamlessly interact with other protocols in the ecosystem.

The network’s native SCRT can be used as the value transfer medium on the platform as well as to interact with protocols that operate on the network, including Secret DeFi applications and the network's NFT offering, Secret Heroes.

New enterprise solutions aren’t better but they come without controversy

One of the ways cryptocurrency projects sought to differentiate themselves from the “medium of exchange” label was to offer enterprise solutions as a way to help corporations navigate the transition to a blockchain-based infrastructure.

XRP and Stellar (XLM) are two of the veteran protocols that fit this bill, but continual controversy and slow development has resulted in these early movers now playing catch up with newer networks that also don’t have the legal controversy that has followed Ripple for years.

Hedera Hashgraph has emerged as a competitor in this field and data shows that the network is capable of processing more than 10,000 transactions per second (TPS), with an average transaction fee of $0.0001 and a time to finality of 3-5 seconds.

These statistics are comparable to both XRP and XLM, which have indicated that their ledgers reach consensus on all outstanding transactions every 3-5 seconds with an average transaction cost of 0.00001 XRP/XLM.

Hedera is also smart contract capable, meaning users can create both fungible and nonfungible tokens, and developers can build decentralized applications to accompany the network’s decentralized file storage services.

For each sector (stablecoins, privacy and enterprise solutions), the main difference between the old-school and next-generation projects has been the introduction of smart contract capabilities and plans to develop within the side-chain and DeFi sectors where the top protocols exist. This gives newer projects additional utility, allowing them to meet the demand of investors and developers, thus increasing their token values and market caps as a result.

With smart contracts, the ability to interact with the growing DeFi landscape comes built-in, whereas the legacy tokens like LTC, XMR and BCH require special wrapping services which insert middlemen and thus insert additional fees, rigor and risk into the process.

Newer protocols have also embraced the more eco-friendly proof-of-stake consensus model that aligns with the larger global shift toward environmental awareness and sustainability. A plus is that holders can also stake their tokens directly on the network for a yield.

It remains to be seen if the slow march of time will eventually lead to a capital migration from older large cap projects to the newer generation protocols or if these legacy blue-chips will find a way to evolve and survive into the future.

Want more information about trading and investing in crypto markets?Why Ethereum needs better compatibility, explainedCardano launches smart contracts after successful hard forkProject Dawn initiative and upcoming mainnet upgrade back LUNA’s new ATHAltcoin Roundup: Layer-one protocols chip away at Ethereum’s dominance.Hedera Hashgraph rallies 150% in a week as its ecosystem expands Related News

Representative imagePixabayThere are over 6,500 cryptocurrencies at last count. Not all of them are equally desirable of course, just as not all of the real world’s currencies are on the same footing. Investors looking to enter the cryptoverse have a number of questions to address — whether to buy a lot of one currency, divide their money between two different cryptocurrencies, or participate in the movement of multiple currencies. There is no one size fits all formula and deciding which cryptocurrencies to invest in varies depending on the risk appetite of one person versus another. AdvertisementSpecific cryptocurrencies are more suited to specific needs, such as for investors, application developers, day traders, and so on. Having a deeper understanding of currencies, would give you a better chance of making an informed decision. Do your own research (DYOR) — Here’s what to look for: Age and enthusiast trust – The community that rises around a cryptocurrency and the trust it reposes in it makes all the difference between a currency that reaches the top of the charts, or one that sinks with no trace. Blockchain generation – Cryptocurrencies can be categorised into coins or tokens, and newer generations unlock more possibilities by the underlying blockchain.Advertisement Speciality – Over a time period, each currency settles into a different niche. Supply conditions – Supply being limited or unlimited can shape basic aspects of how a currency is used, and the impact it has on the wider economy. Value and divisibility – Transaction pricing benefits from the flexibility of a hundred rupee currency that can be divided into 100 notes of one rupee each, and further subdivided into a hundred coins of one paisa each. Similarly, a cryptocurrency whole that can be divided into a million/billion sub-units, allows for flexibility in transactions.Advertisement Transaction costs – There is always a cost to handling a transaction, the only question is whether that means losing 4% or just 0.00025% in the process. Transaction speed – This would be analogous to waiting in a check-out queue, you’d prefer the cashier confirming your purchase or sale as soon as possible. Perceived transaction privacy – Within the crypto community, currencies can be perceived to allow for differing levels of privacy, even if law enforcement authorities have their methods to trace almost every transaction.Advertisement Notably, intangible and external factors do influence how a currency performs in the long run, and how it performs compared to other currencies. Many of the factors noted above can also have an impact on the currency we use daily.

These scam coins are getting crazy. One someone just shilled me: - 27 trillion in circulation- unlimited supply… https://t.co/xJ1I71rWml

— Ryze (@joinryze) 1621279865000 Popular cryptocurrencies and what makes them attractive investments While nothing can replace doing your own research, here we discuss the competitive advantages between eight of the top currencies that have had a bright outlook thus far.Advertisement Bitcoin – Continues to dominate and gain ground against other cryptocurrencies, being the oldest that has survived since a decade. It has pretty much fallen into the slot of an asset you buy for the long term. Ethereum – Introduced innovations to the blockchain, and became a platform for other applications; it is the silver to Bitcoin’s gold. Ether is what you need to take part in high-value trades including non-fungible tokens (NFT). Cardano – Claims to be more friendly to the environment, than other currencies. Like company dividends on stock, it is able to justify stronger prices over time, as it has gathered real-world uses, from farm supply chains to fighting retail plagiarism.Advertisement Tether – Uniquely in the crypto world, a significant rise or fall in this currency’s value would be seen as a failure. That is because it is a ‘stablecoin’ which is used to buy and sell other cryptocurrencies. Solana – Is positioned in the sunrise sector of decentralized finance (DeFi) solutions, with 368 dApps built on top of it. It plays nice with other networks as well, and is attractive to developers, with users of those applications likely to need Solana tokens. Polkadot – Applies a lot of the lessons that cryptocurrencies learnt over a decade, with advantages that could help it dominate the landscape. It plays well with others, costs less to transact and at a faster speed; which is quite the dream of the developing crypto finance sector.Advertisement Dogecoin – Created as a meme/joke, even the co-founder is stunned by this coin. Its value rose sharply with celebrity encouragement, but experts say its nature ensures that it may not rise so high again in the future. Monero XMR – Turned out to become a number of things that society imagined Bitcoin to be. It is most comfortable in the darkness, can be relatively untraceable, holds value, and it can confidentially be created on home computers. Eight of the currencies that interest the market the most: Advertisement Bitcoin / BTCEthereum / ETHCardano / ADATether / USDTSolana / SOLPolkadot / DOTDogecoin / DOGEMonero / XMREditAge/enthusiast trust 11 years, high trust8 years, high trust4 years, moderate trust6 years, low trust1.5 years, moderate trust1 year, moderate8 years, moderate7 years, moderateBlockchain genCoin, 1st gen Token, 2nd genToken, 3rd gen Token, 1st genToken, 2nd genToken, 3rd genCoin, 1st genCoin, 1st gen Speciality / Usage PurposeHeld as an asset.Platform for more currencies.dApps, ‘green’ blockchainStablecoinDeFi, NFTCross chain transfersMeme value, low cost.Illicit transactionsSupply conditions Limited /divisibilityHighHighHighLowHighHighHighHighTxn costsHighHighModerateLowLowLowModerateLowTxn speedHoursMinutesMinutesMinutesSecondsMinutesMinutesMinutesPerceived txn privacyLowLowModerateModerateModerateModerateModerateHigh SEE ALSO: How The Limited Supply of Bitcoin Has Driven Up Its Value Top 10 crypto currencies in the world – the story behind Bitcoin and other Altcoins Beyond Bitcoin — Stablecoins, altcoins, DApps and other types of cryptocurrencies How Do Cryptocurrency Holders Make Money {{}} NewsletterSIMPLY PUT - where we join the dots to inform and inspire you. Sign up for a weekly brief collating many news items into one untangled thought delivered straight to your mailbox.CAPTCHA:

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ReviewsAll Bitcoin NewsAltcoinsNewsPriceEthereumRippleLitecoinEOSNAGAAll Altcoin NewsTechBlockchainSecurityFinTechIndustryPress releasesPriceBitcoin PriceEthereum PriceLitecoin PriceBinance Coin PriceMonero PriceMimbleWimbleCoin PriceHow toBuy gift cards/mobile Top Ups with CryptosWhat Is Bitcoin?Best Bitcoin WalletBitcoin vs EthereumWhy Use Blockchain Technology?Bitcoin Cash ABC vs. Bitcoin Cash SVHow to Buy CryptocurrencyBitcoin MiningBest Bitcoin BrokersBest Bitcoin Forex BrokersHow To Earn BtcoinWhat is Facebook Libra?Ripple and XRP: The Complete GuideTradePlay GamesBuy CryptoDEX Trade

ReviewsAll Bitcoin NewsAltcoinsNewsPriceEthereumRippleLitecoinEOSNAGAAll Altcoin NewsTechBlockchainSecurityFinTechIndustryPress releasesPriceBitcoin PriceEthereum PriceLitecoin PriceBinance Coin PriceMonero PriceMimbleWimbleCoin PriceHow toBuy gift cards/mobile Top Ups with CryptosWhat Is Bitcoin?Best Bitcoin WalletBitcoin vs EthereumWhy Use Blockchain Technology?Bitcoin Cash ABC vs. Bitcoin Cash SVHow to Buy CryptocurrencyBitcoin MiningBest Bitcoin BrokersBest Bitcoin Forex BrokersHow To Earn BtcoinWhat is Facebook Libra?Ripple and XRP: The Complete GuideTradePlay GamesBuy CryptoDEX Trade

ReviewsAll Bitcoin NewsAltcoinsNewsPriceEthereumRippleLitecoinEOSNAGAAll Altcoin NewsTechBlockchainSecurityFinTechIndustryPress releasesPriceBitcoin PriceEthereum PriceLitecoin PriceBinance Coin PriceMonero PriceMimbleWimbleCoin PriceHow toBuy gift cards/mobile Top Ups with CryptosWhat Is Bitcoin?Best Bitcoin WalletBitcoin vs EthereumWhy Use Blockchain Technology?Bitcoin Cash ABC vs. Bitcoin Cash SVHow to Buy CryptocurrencyBitcoin MiningBest Bitcoin BrokersBest Bitcoin Forex BrokersHow To Earn BtcoinWhat is Facebook Libra?Ripple and XRP: The Complete GuideTradePlay GamesBuy CryptoDEX Trade

One or a group of large bitcoin buyers, also called bitcoin whales, appeared to be behind Wednesday’s price pop, based on data that showed large bitcoin purchases on exchanges during early U.S. trading hours.

But why the whale – or whales – placed bitcoin buying orders of nearly $1.6 billion in a few minutes on a centralized exchange remains unclear.

At press time, bitcoin was changing hands at $54,938.47, up 7.89% in the past 24 hours, according to CoinDesk 20.

According to South Korea-based blockchain data firm CryptoQuant, someone or a group of people purchased the massive amount of bitcoin on the spot market on centralized exchanges between 13:11 and 13:16 UTC Wednesday.

The timing of the purchase came not long after U.S. Republicans shared favorable comments on cryptocurrencies and amid increased expectations from markets that the U.S. could soon approve a futures-based bitcoin exchange fund.

The purchase could have started on Coinbase, Ki Young Ju, co-founder and CEO of CryptoQuant told CoinDesk. He pointed out that “Coinbase premium” rose sharply around the same time before it dropped again.

The “Coinbase premium” is an indicator showing the gap between Coinbase’s BTC/U.S. dollar (USD) pair and Binance’s BTC/USDT pair involving the tether stablecoin. When the number increases, it usually reflects stronger buying power on Coinbase, the centralized exchange.

But Willy Woo, an independent blockchain data analyst, disagreed with this narrative. He told CoinDesk that the purchase mostly came from Binance, citing data from another blockchain data firm Glassnode.

According to Glassnode, the hourly charts of net transfer volume for bitcoin from and to Coinbase, or the difference in volume flowing into and out of Coinbase, has been more neutral compared with its competitor Binance, on a 48-hour moving average.

On Binance, the difference in bitcoin volume flowing into and out of the exchange has been negative since the past weekend.

I “haven’t seen any netflows coming out of [Coinbase] [and] also the buying on there is not that out of the ordinary compared to other exchanges,” Woo said. “The buying actually looked stronger on Binance ... Coinbase was net selling more than buying.”

Lucas Outumuro, head of research at Miami, Florida-based blockchain data firm IntoTheBlock, also said the purchase mainly came from Binance, citing data from his own company.

Regardless of which exchange was responsible for the large order that seemed to spur bitcoin’s spike, the bigger question is why the purchase took place on an exchange.

Large bitcoin orders are usually placed through the over-the-counter (OTC) market. In that way, the transactions won’t move prices the way they would have if the trades were occurring on the spot market via exchanges.

A large purchase on the spot market that potentially has moved the market up dramatically seems suspicious to CryptoQuant’s Ju, who suggested that whales were trying to stimulate interest among other investors by creating a price increase. These investors would then become fearful of missing out on the surge. “Sometimes, you have to manipulate the price to make FOMO (fear of missing out),” Ju said.

But Outumuro said that large buys via OTC desks can be too slow for some traders because of the current bullish sentiment on the market.

“Given that bitcoin broke out of a multi-month trendline and above a local high, I’d argue there’s a high amount of momentum trading taking place in spot markets – with high volume and conviction,” he said.

Indeed, the market’s attention is now back to bitcoin in full bullish mode: As bitcoin broke above $54,000 on Wednesday, institutional interest in bitcoin has risen significantly too.

One-month bitcoin futures contracts based on the Chicago Mercantile Exchange (CME) are trading at an annualized premium as much as 17.73% to the spot price, according to derivatives research firm Skew.

As CoinDesk reported, the increased premium on CME’s bitcoin futures contracts shows higher demand among CME traders to build long exposure in bitcoin. In the crypto market, analysts and traders consider CME synonymous with institutional investors.

“It’s rare to see BTC in the top 5% of crypto asset performers in any given 24 hours,” digital asset prime broker Genesis wrote in its newsletter on Wednesday. “Given that BTC is for many large institutions the ‘on ramp,’... this further supports the conclusion that this runup is institution-driven.” (Genesis is owned by Digital Currency Group, which also owns CoinDesk.)

Bank of America now sees the cryptocurrency sector as too large to ignore.

"We believe crypto-based digital assets could form an entirely new asset class," Alkesh Shah, the bank's head of crypto and digital assets strategy, said. "Bitcoin is important, with a market value of around $900 billion, but the digital asset ecosystem is so much more."

Shah's report marked the beginning of Bank of America's formal coverage of the sector, with the bank estimating that 221 million users trade a cryptocurrency, or use a blockchain-based application, each month. Digital asset-related venture capital funding rose to $17 billion in the first half of 2021, compared to just $5.5 billion last year, and mergers and acquisitions jumped to $4.2 billion, up from $940 million in 2020.

The bank has introduced developer interest as one potential metric to measure whether a coin or token is over- or undervalued. Analysts said this demonstrates the dominance of the ethereum network and its native token, ether.

"We view the number of repositories, or projects, on a blockchain as an indication of developer interest and future demand for the blockchain's native digital asset," Shah said. "We define projects as the total number of blockchain-based code repositories."

"There are more ethereum projects currently being worked on than there are for polkadot, cardano and XRP combined," he added.

Insider lists 15 little-known altcoins that the bank identified using this same metric. To qualify, a token needs to fall outside of the top 15 by market capitalization, and not be a stablecoin. Bank of America defined an altcoin as any cryptocurrency that isn't bitcoin.

Shah's team identified 15 potentially undervalued coins, based on their technical applications and developer interest.

"The total number of projects per blockchain provides a measure to gauge network effects," Shah said. "Put simply, a large or growing number of people involved in developing a network tends to inspire future developers to join because they can benefit from those already in the network."

Tezos was the first altcoin the bank listed. It runs on a proof of stake blockchain network, and is designed for peer-to-peer transactions and smart contracts.

Next, Bank of America listed The Graph. This token runs off of the GraphQL programming language, and was originally developed by Facebook in 2015.

IOTA is a centralized coin that achieves consensus without using fees and is used to process microtransactions. It has received some criticism for its unusual design, but is currently used by almost 500 developers.

The NEAR Protocol is an open-source platform that aspires to climate neutrality; it ranked fourth on the bank's list of smaller altcoins.

EOS is the native token of the EOSIO network, which allows users to build DeFi applications and has a market capitalization of just under $5 billion.

The bank also listed Stellar's native token, XLM, which has a current market value of $8 billion. Shah's team described Stellar as "a payments solution with low and flat transaction fees".

The little-known privacy coin XMR, which runs on the Monero blockchain, also made the bank's list. Monero - a so-called "privacy coin" - increases user anonymity, which has led to some concerns about potential illicit use.

Ethereum Classic, which was created following an ethereum hard fork, has a market value of just over $8 billion. Shah said "ETC provides holders with the ability to store and transfer value and pay gas fees and, unlike ether, has a supply cap."

Cloud-based blockchain Filecoin's utility token FIL has a similar market value of just under $8 billion. It runs using the unusual Proof of Replication and Proof of Spacetime algorithms.

Neo also made the bank's list. This blockchain, which processes smart contracts amongst other applications, is currently in the middle of the N3 upgrades, which it promises will be its "biggest evolution" yet.

Cosmos is one of the better-known altcoins listed by the bank.Crypto trader Michaël van de Poppe recently tipped it as the 'next solana'. App-building blockchain Waves also made the list, along with the open-source DeFi platform Fantom.

Content sharing and entertainment platform Tron, which has a market value of almost $6.5 billion, was also featured by Shah's team. Its native token, TRX, allows holders to pay for streaming services on the platform.

Lastly, Bank of America listed Internet Computer's native utility token ICP, which has a market value of $10 billion. Holders can receive rewards for operating data centers and for voting on governance proposals.

The bank concluded that these 15 altcoins are part of an expanding group that are chipping away at bitcoin's dominance. Bitcoin's market value accounted for 97% of the crypto space in November 2013, but that figure has now fallen to under 45%.

"You've probably heard of bitcoin and ether and maybe several others, but there are actually over 11,500 altcoins in circulation," Shah said. "As the digital asset economy expands, the market share of altcoins has expanded significantly, capturing bitcoin market share."

"In fact, there are now around 100 coins valued at over $1 billion, which we view as a sign of an expanding ecosystem," he added.

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Barely a decade old, cryptocurrencies and blockchain technology are only just beginning to find real-world use. As one popular way to utilize them, non-fungible tokens (NFTs) have quickly commanded a great deal of attention -- especially among artists, art collectors, and speculators.

If you've decided you want a piece of the NFT action but don't know how to go about buying them, here's how to get started.

How to buy non-fungible tokens (NFTs)

An NFT is a token built and managed on a blockchain (most frequently on Ethereum (CRYPTO:ETH)) that represents ownership of an asset. So, most NFTs require payment in Ethereum or the other crypto blockchain where they're built.

Here's a step-by-step guide to making an NFT purchase.

Ethereum on a crypto exchange (such as Coinbase Global (NASDAQ:COIN)).Transfer your crypto to a crypto wallet. Think of it as a digital checking account that stores and transfers your cryptocurrency. Some exchanges like Coinbase have built-in wallet features that are offered when you open an account, but other options include dedicated wallets like MetaMask. Where to buy NFTs

There are dozens of NFT marketplaces. Currently, the largest is OpenSea, which primarily uses Ethereum but also supports more than 150 other payment tokens. Other NFT marketplaces that have a wide variety of art and collectibles include Binance NFT, Rarible, and Foundation.  

Some marketplaces deal in more specific assets. For example, The Musician Marketplace focuses on music compositions, and NBA Top Shot is the officially licensed marketplace to purchase digital video highlights from the National Basketball Association.

Whether it's art, collectibles, video game assets, or website domain names, there's a marketplace that has what you want.

How crypto wallets play a role in buying NFTs

Crypto wallets aren't just for purchasing an NFT. Once you've made your selection, you'll also need a place to store your NFT. Simple options include Coinbase Wallet and MetaMask, and other cryptocurrency exchanges offer wallet features included with an account to trade cryptocurrencies.

However, there are other wallet options for securing cryptos and NFTs offline outside of an account directly connected to an exchange (known as cold storage). For example, the companies Trezor and Ledger offer actual hardware wallets that can store crypto assets. With a private security key, the wallets can provide an added layer of security for storing NFTs.

Top NFT tokens to consider investing in

Unlike cryptocurrencies themselves, NFTs don't derive value from their utility (as an investment asset, like how many investors have come to view Bitcoin (CRYPTO:BTC), or for their usefulness in facilitating payments). Rather, NFTs derive value from the media they represent (such as art, music, video, writing, etc.). So investing in NFTs is an investment in a collectible item, and its value over time will be determined by various intangible factors including the quality of the piece, its uniqueness, and the clout of the artist who created it.

It's possible to also invest in tokens used to purchase and govern digital asset networks. Here are the top NFT tokens right now.  

Today, NFTs are primarily used in digital art and media, but their use could extend far beyond guaranteeing ownership of collectors' items. A growing list of companies are working on blockchain and NFT technology to make them more useful in business operations.

As a new technology, tread carefully before investing in NFTs. Crypto asset values exhibit extreme price volatility, and a lot of contenders are vying for user and investor attention. If you decide to buy NFTs and tokens, remember to purchase them as part of a diversified portfolio.

Stock AdvisorS&P 500655%141%Join Stock AdvisorCumulative Growth of a $10,000 Investment in Stock AdvisorCalculated by Time-Weighted ReturnStocksBTCBitcoin CRYPTO:BTCETHEthereum CRYPTO:ETHCOINCoinbase Global, Inc. NASDAQ:COINTHETATheta Token CRYPTO:THETAXTZTezos CRYPTO:XTZAXSAxie Infinity CRYPTO:AXS13 Steps to Investing FoolishlyInvesting Tools 1

LOS ANGELES--(BUSINESS WIRE)--Beyorch, Inc. is excited to announce the launch of the Beyorch Digital Token, the first cryptocurrency governance token backed by merchant loan obligations. The official launch date of the Beyorch Digital ICO ($BYC) is July 29, 2021 and the pre-sale term is open.

Beyorch believes Beyorch Digital will allow investors to enter the cryptocurrency market with less risk, as the token is backed by Beyorch’s merchant loan portfolio. In addition, Beyorch Digital Tokens can provide passive income and access to discounted interest rates for merchant loan fees.

The total supply of tokens is 500 million, and the company is making 25 percent of that available during the pre-sale period through July 29, 2021, priced at $0.20 for a minimum purchase of $500.

A background white paper and the ability to create an account to purchase $BYC can be found at: https://beyorchdigital.com

“We’re enthused to be the first US hybrid merchant bank to enter this space,” said Trish Brown, COO of Beyorch. “We think people will be happy with their purchase of this cryptocurrency product, as it represents a lower risk profile.”

Beyorch Digital Tokens’ governance will allow the community to vote on and make changes and decisions transparently, leading to greater confidence in their investment. In keeping with the spirit of its merchant bank roots, future developments include an app, credit card, and consumer loans for holders of $BYC.

Beyorch, Inc. is a hybrid merchant bank that originates loans for companies while offering investment advantages to the everyday investor.

Contacts

Beyorch, Inc. Trish Brown tbrown@beyorch.com

Release Summary

Beyorch Digital ICO ($BYC): first cryptocurrency governance token backed by merchant loan obligations begins pre-sale on July 15, 2021.

Contacts

Beyorch, Inc. Trish Brown tbrown@beyorch.com

The cryptocurrency market mostly flashed consolidation. The likes of Bitcoin Cash and Ethereum Classic appreciated minorly with lateral trading. Bitcoin Cash was trading near its immediate resistance, while Ethereum Classic displayed increased buying strength. On the other hand, IOTA depreciated 1.4% and was trading near its immediate support level. Bitcoin Cash (BCH)

Bitcoin Cash was priced at $567.19 and had appreciated 1.7% over the last 24 hours. The immediate resistance level for the altcoin stood at $598.80 and then at $694.84. Buying pressure recovered which indicated a rise in prices. Technicals were mostly positive. 

The Relative Strength Index was seen above the midline, which meant buying strength remained positive. Awesome Oscillator flashed green signal bars. MACD displayed red bars on the histogram. 

On the flip side, the support level stood at $554.37 and then at $503.64. The other price floor stood at $476.93. 

IOTA was trading at $1.25 and depreciated 1.4% over the last 24 hours. The nearest support level was at $1.20 and then at $1.16. Key technicals had indicated that IOTA’s price had taken a bearish price action. 

The Relative Strength Index was struggling to revive itself as it threatened to fall below the half-line. The Awesome Oscillator flashed red signal bars.

Chaikin Money Flow was above the half-line as capital inflows were positive. The resistance mark for the coin, if prices reversed stood at $1.42. 

Ethereum Classic was trading at $53.52 and it increased minorly by 1.7% over the last 24 hours. With increased buying strength, the price of the coin also recovered. On the four-hour, the price of ETC was above the 20-SMA line which suggested that price momentum was in favour of buyers. 

The Relative Strength Index was above the half-line which meant that buying pressure was still positive. Chaikin Money Flow was above the midline as capital inflows were bullish.

Awesome Oscillator flashed green signal bars. The support line for the coin was at $51.43 and then at $47.13.

Where to Invest?

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Anushmita Samal

Anushmita is a full-time journalist at AMBCrypto with a background in Mass Communication. She is inclined towards writing about the socio-political aspects of the crypto market and also has an interest in analyzing market trends.

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Bitcoin is one step closer to being readily available to the masses. If you have any doubts, check out your nearest Walmart. You might be able to buy Bitcoin there at a Coinstar kiosk.

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To be clear, Walmart itself is not offering customers a way to buy bitcoin—its partner Coinstar is. Coinstar is most known for offering kiosks that allow people to trade in their spare change for bills or gift cards. (It certainly was my go-to for my jars of coins when I was a kid). Now, Coinstar will allow people to use its kiosks to buy bitcoin through a collaboration with Coinme, a crypto wallet company that provides bitcoin ATMs.

Coinstar’s new service was first spotted and confirmed by CoinDesk on Thursday.

“Coinstar, in partnership with Coinme, has launched a pilot that allows its customers to use cash to purchase bitcoin,” a Walmart representative told CoinDesk. “There are 200 Coinstar kiosks located inside Walmart stores across the United States that are part of this pilot.”

Buying bitcoin appears to be relatively simple. On its website, which has a very long FAQ section, Coinstar explains that you first have to create a Coinme account. After that, you can head to your nearest Walmart with a participating Coinstar kiosk—only 200 kiosks at select Walmart stores are part of the pilot, so make sure to check that the one near you offers the service—and buy bitcoin with cash.

Curiously, you can only buy bitcoin with paper bills, not coins. It also won’t give you change, so make sure you have the exact amount you want to buy in cash. In addition, Coinstar only allows users to buy bitcoin, not sell bitcoin they already own for cash.

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Once you’ve completed your purchase, the Coinstar kiosk will give you a voucher with a code that you can redeem at Coinme. All purchases come with a 4% transaction fee, part of which goes to Walmart, and a 7% cash exchange fee. A Coinme account, which provides users with a complimentary crypto wallet, is required to obtain access to your bitcoin.

As far as data privacy goes, Coinstar does require customers to provide a valid phone number to use its kiosks but says it doesn’t store it or any other sensitive data of people who buy bitcoin. Coinme, meanwhile, carries out a Know Your Customer check to confirm users’ identities, which includes providing a non-expired driver’s license or state ID and confirming the user is older than 18 years old.

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Although Coinstar’s pilot is small at the moment, the company has big plans for cryptocurrency. It plans to offer the ability to buy bitcoin at more than 10,000 of its kiosks and allow the purchase of different cryptocurrencies by the end of the year.

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It is easier than ever to buy cryptocurrency — all you have to do is pull out your phone and open an app. 

PayPal is one of a few popular mobile and online payments platforms now allowing users in the U.S. to buy, sell, and hold cryptocurrencies with as little as $1 invested. But if you’re looking to add cryptocurrency to your portfolio, you should think carefully about which platform you use — and whether you should be investing in crypto at all. 

Even the most common and time-tested coins — Bitcoin and Ethereum — are still highly volatile. That’s why experts recommend investing no more than 5% of your portfolio in crypto at all, and never letting it get in the way of things like saving for emergencies or paying down high-interest debt. 

If you do decide to invest, where you buy your crypto can have important implications worth thinking about ahead of time. It may be easy to buy crypto with an app you already use — and trust the security measures of —  like Paypal, but there are limitations compared to traditional cryptocurrency trading platforms. 

Here’s what you need to know before buying crypto on PayPal and how to figure out whether it makes sense for you.

What You Need to Know Before Buying Crypto on PayPal

Any PayPal user can buy, sell, and hold crypto. You can also use crypto at checkout for select purchases, but it’s generally a bad idea to use any cryptocurrency as a form of payment. As with other long-term investments, experts recommend buying and holding your crypto long term.

PayPal protects eligible purchases from fraud if you check out with crypto.

PayPal, along with other apps like Venmo and Robinhood, are making crypto more accessible, which is a major draw for many beginner investors. But increased accessibility can also increase your risk. 

“If you have a PayPal balance on your phone, and you’re curious about cryptocurrency, you can open PayPal, click crypto and in two seconds own a few hundred dollars worth of cryptocurrency,” says Julian Morris, a certified financial planner at Concierge Wealth Management in Boston. “They just make it really, really easy.”

Given the value of the cryptocurrency market, there is a case for owning a little bit of it, says David Yermack, a finance professor at the New York University Stern School of Business who researches cryptocurrency. But it shouldn’t be your main focus. 

“The tried-and-true formula for success in investing always involves diversification — not putting all your eggs in one basket, but trying to own a little bit of many things,” he says.

How to Buy Crypto on PayPal

To buy crypto from PayPal, you’ll need to set up an account. If you already have a PayPal account, all it takes to buy crypto is clicking a button that says “crypto” and choosing which coins you’d like to buy. 

You can purchase four types of crypto on the PayPal app: Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. However, experts recommend sticking to Bitcoin and Ethereum if you’re a new investor.

To complete your purchase, you’ll need to have available funds, a linked debit card, or a linked bank account. You can spend as little as $1 or as much as $100,000 a week. Like many crypto exchanges, there’s a fee for buying and selling crypto on PayPal, which varies depending on how much you buy. 

PayPal Crypto Fees

You also have to verify your identity, fill out a W-9, and agree to the PayPal terms and conditions. If you decide to make a purchase with crypto, PayPal will automatically convert it into the U.S. dollar at no additional cost. 

Alternatives to Buying Crypto on PayPal

Investing in crypto using PayPal is simple — especially if you already use the app for online payments. But it has limitations. 

The crypto you buy through PayPal is not the same as buying crypto on an exchange like Coinbase or Gemini. When you buy crypto from a traditional exchange, you have the option to transfer it to a wallet for secure storage or to someone else — a key distinction when it comes to full crypto ownership.

That’s not the case with PayPal. You can’t transfer crypto from your account to other accounts on or off PayPal, and you have to sell your crypto on PayPal to make a withdrawal, which you’ll also be responsible for reporting on your tax return.

If you want full control over your coins, a cryptocurrency exchange may be a better choice. While they can be more complicated to navigate as a beginner, you’ll have more flexibility with your coins and potentially pay fewer fees. You can use these exchanges to trade one crypto for another (like using Bitcoin to buy Ethereum) or buy crypto using regular currency, like the U.S. dollar. 

Still, PayPal can make sense for new investors who want to experiment with a small crypto balance on a familiar platform. Even for those well-versed in traditional investment options like stocks and index funds, crypto investing using exchanges can be complicated. For example, personal finance expert Suze Orman recently told NextAdvisor that she purchased $5,000 in Bitcoin on PayPal instead of a traditional exchange because “it was just easy to do it.” 

If you’re a new investor with a few dollars to spare, PayPal can be a good place to start. Investing in a small portion of your portfolio in Bitcoin on a platform you already trust can make sense for beginners, especially if you don’t anticipate adding large amounts you might want more control over (like your own wallet storage) later.

There’s no wrong or right way to invest in crypto — it ultimately depends on your personal preferences. What matters more is taking the time to learn about crypto before investing in it. “Before you click a ‘buy’ button, you just want to be prepared,” says Morris. “And if you want to be a prepared investor, you certainly need to do a lot of research.”

Bottom Line

Remember, any crypto investment is volatile, and you should only invest what you’re prepared to lose. “If you’re going to own it, you only want to own a little bit as part of a very diversified portfolio,” says Yermack.

You should also prioritize other important aspects of your finances, such as having an emergency fund or paying down high-interest debt, before investing in crypto — whether it’s through PayPal or not. 

And whatever platform you choose, take time to learn about smart crypto investing for the long-term, keeping your coins secure, and how to deal with the volatile price fluctuations.

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SmartFi, the open lending crypto platform, which went live in July 2021, has secured more than $10 million in capital in the first 2 weeks of its “unique” SmartCycle token sale.

Token purchasers buying more than $1 million in SmartFi’s SMTF tokens apiece reportedly include Blockfills and a consortium from the software development team behind the Komodo Platform.

As mentioned in a release shared with Crowdfund Insider, the first 8m SmartFi Tokens “sold out in 24 hours at a price of $.70.” The current price is $1.29, which is “an 85% price increase via the SmartCycle model.”

The update further noted that SmartCycle is “a unique index which charts the release of SmartFi tokens to fund loan demand; the more loan demand, the higher the price of the token.” Under existing loan demand, the index “forecasts a token price of $8.14, an increase of 575% from the current price.”

As mentioned in the release:

“Because of the new unique financial model, SmartFi is able to provide a 100% buy-back guarantee of the original purchase protecting SmartFi token buyers; the same feature also enables the SmartFi token to resist bear market downturns.”

This decentralized finance (DeFi) model is offering improved, safer financial value than “most other platforms, yield farming, staking, coin interest accounts and liquidity mining,” the announcement revealed.

In-process demand for SmartFi’s loans has reached more than $190 million and these will be “released to SmartCycle when the loans are approved.”

Some token sale participants have “funded their purchase of the SMTF token by borrowing against their Bitcoin; this preserves the value of their Bitcoin assets and gives them the new value of SMTF token.”

The success of the SmartCycle has enabled SmartFi to compete with more conventional lenders such as banking institutions, “funding non-crypto related loans, including the first $2 million in traditional small business loans.” These borrowers do not know that their loans “are funded by cryptocurrency value,” the announcement clarified.

SmartFi CEO Aaron Tilton stated:

“We believe that when the average person’s financial dealings are impacted by cryptocurrencies unknowingly, that is when the true potential of cryptocurrencies is unleashed. SmartFi is doing just that: competing with traditional lenders to provide dollar loans, using crypto as the underlying asset.”

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The entrance to a Walmart store is seen in Bradford, Pennsylvania, U.S. July 20, 2020. REUTERS/Brendan McDermid/File Photo

Oct 21 (Reuters) - Walmart Inc (WMT.N) said on Thursday customers at some of its U.S. stores will be able to purchase bitcoin using ATM-like machines installed by Coinstar.

Coinstar, known for its machines that can exchange physical coins for cash, has partnered with digital currency exchange CoinMe to let customers buy bitcoin at some of its kiosks.

There are 200 Coinstar kiosks located inside Walmart stores across the United States that will allow customers to buy bitcoin, a Walmart spokesperson said.

Walmart was subject to a cryptocurrency hoax in September when a fake press release was published announcing a partnership between the world's largest retailer and litecoin. The news had briefly sent prices of the little known cryptocurrency surging. read more

Reporting by Uday Sampath in Bengaluru; Editing by Devika Syamnath

Our Standards: The Thomson Reuters Trust Principles.

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Future of MoneyFuture of Money · October 21, 2021 · 9:38 PM UTCWalmart allowing some shoppers to buy bitcoin at Coinstar kiosks

Walmart Inc said on Thursday customers at some of its U.S. stores will be able to purchase bitcoin using ATM-like machines installed by Coinstar.

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