🎓 Trading Guide Andrew Strogoff

How to Trade Cryptocurrencies

Trading Guide
Eight steps to start cryptocurrency trading and how to avoid common mistakes
How to Trade Cryptocurrencies

Almost everyone has heard about Bitcoin, altcoins and the opportunities that they offer not only to those, who own them but also to those, who speculate or invest in cryptocurrencies. The number of traders is growing every day and the beginners want to know how to trade cryptocurrencies and to earn money in this industry. We have decided to create a guide for crypto traders with a step-by-step explanation of how to begin and what to do.

Step 1. Find an exchange

Ethereum752_CCN_12.14.2017

The first thing every trader has to do before starting his or her career is to choose a place where to place orders (to buy and to sell cryptocurrencies). There are several exchanges nowadays offering services to different types of investors.

How to find a good one? We are going to write a separate guide, but here we give you some key points. What aspects are important to pay attention to before creating an account? They are the following:

  1. Reputation of an exchange. When you find one, look for more information about its activities and reputation. Read traders’ testimonials. However, do not forget, that those testimonials may be bought by exchange or its competitors.

  2. Security level. Early exchanges like MT.GOX and the others had very poor security levels allowing hackers to breach their systems and to stole traders’ money. Nowadays many websites use hot and cold wallets, multisig and other serious methods to ensure the safety of investors’ funds.

  3. Trading conditions. This is an important factor as exchanges offer different commission plans for depositing and withdrawals, as well as for inner trading transactions. Some websites have no inner commissions at all (like Cobinhood, for example).

  4. Depositing and withdrawal methods. There are two main types of exchanges. First offers Bitcoin, Ethereum and several popular coins along with fiat money. You can use banking cards and some electronic payment methods to deposit and withdraw from there. Second offers hundreds of altcoins, but as for depositing and withdrawal, you can use cryptocurrencies only.

  5. Trading platform. Some websites offer Tradingview platforms with different types of analysis tools like indicators, lines, channels, Fibo and the others. On the other hand, some exchanges offer simple and primitive trading terminals with Japanese candlesticks and timeframes. There are no analysis tools there.

  6. Order types. Professional investors prefer websites with different types of orders including limit, stop losses, take profits and the others.

  7. Verification procedure. Privacy is the key advantage of the crypto industry. However, the majority of exchanges require verification.

Recommendation:

Before you take the final decision to start trading with one or another website, try to contact their support service. Pay attention to how fast and complete the answers are.

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Step 2. Create an account

When the first step is done, meaning you have found an appropriate exchange, your next step is to create an account. Almost all exchanges have a simple sign up procedure. You need to create a login, provide an email address and a password.

Registering procedure comprises email confirmation. Some websites recommend installing two-factor authentication in order to increase account safety level.

Recommendation:

You may be asked to complete the account verification procedure in order to remove the restrictions. We strongly recommend providing the exchange with correct personal data as you will be required to send your ID documents scan copy.

Step 3. Choose your coins

Choose your coins

Bitcoin is not the only one nowadays. There are hundreds of different altcoins that you may invest in or speculate on. Professional traders advice to choose a couple of coins to start. The wide range of cryptos is good for diversification. However, beginners are recommended learning more about each asset they are going to buy, especially when they are going to invest. Why is this necessary?

First, when you plan to buy a cryptocurrency in order to hold it for a long time, you need to understand what is behind its price. Every coin is not simply a currency, but a project using some technology and offering some benefits to the users.

Ethereum, e.g., is a platform for developing decentralized applications and smart contracts. The last serve to conduct any kind of business without intermediaries. Monero is a secure and untraceable cryptocurrency, allowing users to conduct transactions with a high level of anonymity.

In order to understand whether it is a good idea to invest in this or that coin, you need to analyze whether it is promising or not. Every project has its own website and whitepaper, which are a kind of a presentation. Moreover, you can find detailed coins’ reviews on our website, which facilitates forecasting procedure.

Second, you need to compare the price of the chosen cryptocurrency with its perspectives with regard to its technology. Some coins may grow for no apparent reasons. There are risks of a pump & dump manipulations in this case. Such cryptocurrency is not for long-term investors as once manipulators reach their goals, they will dump coin and its price is likely to fall towards the initial levels (before the pump and dump strategy was launched).

As for traders who speculate on coins in short term, they also need to learn more information about the cryptocurrencies they are going to trade. However, as they buy and sell currencies within a couple of hours or days, they are better to pay more attention to technical analysis.

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Step 4. Choose your amount to invest

Before you can start trading cryptocurrencies, you need to deposit some amount of money to your trading account. How much money to invest?

It makes sense to deposit as much as you can in order to earn higher profits. However, cryptocurrency trading is risky as any other type of speculations and investments. You may have significant profits there but also lose all your money (or part of your investments).

How to choose the right amount? There are several pieces of advice. Let’s go through some of them:

  1. The easiest way to determine how much money to invest is to understand how much money you can lose without any psychological consequences. The more money you put into your trading account initially, the more you will be under psychological pressure.

  2. Determine your trading goals. Sometimes it helps traders to understand how much to deposit.

  3. Never take loans or make debts to increase the amount of your trading account. Otherwise, you risk losing not only your money but also borrowed funds that you will need to repay later.

  4. Another advice is to avoid taking money from family’s budget. Trading funds should be free of any obligations.

Step 5. Analyze charts and events

Analyze charts and events

Before you take any trading or investing decisions, take a look at the charts in order to forecast prices. There are several tools that you can use in order to understand whether to buy or to sell a coin. You need to have a strategy, which will give you nearly exact entry points.

Is it enough to simply analyze charts? Naturally, you need to combine technical analysis with fundamental forecasting method. It is better to keep your ears open as technical analysis can’t show you the drivers that make prices go in this or that direction.

When you know the reason for fluctuations and trends, you have an important information that may help you not only to forecast future directions but also to understand their lifespan.

Let’s see South Korea bans crypto exchanges. What will happen next? Bitcoin and altcoins will probably suffer significant losses as South Koreans will eventually get rid of cryptos. This decision will also be a sign of another serious cryptocurrency crisis as coins will lose their credit among newcomers.

This is just an example of exchanges work in South Korea with no limitations in the moment of writing and it is unlikely they will be closed or banned in future. However, this example is a good one as it shows how the situation may change in case of similar events.

Is it possible to trade without any analysis? If you want to exchange one crypto on another in order to use coins to buy something or for other purposes, you may skip analysis as you need crypto in the moment of buying and you will not wait until it becomes cheaper to buy or more expensive to sell.

However, if you want to make a profit by buying one coin and selling another, analysis is the key factor of success as you need to forecast future prices.

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Step 6. Diversification

No matter what you are going to do– investing or trading, diversification is the key to successful market operations. What does it mean “to diversify”? When you buy one coin, you risk losing all your investments or a part of your funds in case if the price of this crypto falls down. When you buy several coins simultaneously, those risks are distributed between all your portfolio.

In case all coins fall down, you will lose all your investments or a part of your funds. However, if several coins hold their positions and even grow at the same time when the others fall down, you have a chance not only to save your money but even to make profits.

Diversification is rather hard as you need not only to buy different assets but look for the currency pairs that have no correlation (or minimum correlation). Otherwise, there is no sense in such activity. Let’s say you buy some amount of Bitcoin and Litecoin, two currencies that have almost 100 percent correlation meaning BTC and LTC have the same trends. When Bitcoin goes upwards, Litecoin follows it and vice versa, when BTC/USD falls down, LTC/USD does the same.

It makes no sense to buy both currencies to create a portfolio as they go in one direction in the majority of cases. Therefore, you need to find such cryptos that have no connection between each other.

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Step 7. How much to invest in a single position

Before you place an order, you need to calculate you single position amount. Many beginners having no skills or experience in cryptocurrency trading, put all their money into trading. Let’s say they have $1,000; they buy Bitcoin for $1,000 leaving no money in reserve.

This is a very poor money management strategy as when you invest all your funds in one single position, you leave no reserve behind you. If there is other interesting opportunity, you will have no money to open position.

It is better to trade using less than 5% of all your funds as this strategy reduces risks. Additionally, you have a reserve, which may be used later when other trading opportunities arise. Let’s say you have deposited $2,000 to your trading account. The amount of a single investment may be $100 in this case.

Why is it necessary to follow money management rules? They make a trader more disciplined and help to protect an investor from higher risks. Money management is a very important point, which is described in one of our next lessons.

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Step 8. Choose your order type

Several exchanges offer different types of orders nowadays. In addition to market orders, you may use the following types:

  1. Limit Order.

  2. Stop Market.

  3. Stop Limit Order.

  4. Trailing Stop.

  5. Fill or Kill.

  6. One Cancels Other.

Let’s describe all of them. Market order is the simplest way of cryptocurrency trading as you buy an asset at its current market price. Let’s say you want to buy Bitcoin. Its current price is $8,000. This price meets your requirements and you place market order. The system automatically matches orders and the transaction is conducted instantly.

Limit orders are executed at the desired or better price. This one is a bit harder as you need to forecast not only the market but whether the price is going to reach your Limit Order level as well (otherwise, you will not be able to open a position).

How does it work? Let’s say, Bitcoin price is $8,500. You want to buy BTC/USD but think that its price will fall down towards $8,000 before going higher. You can place a Limit Order in this case at $8,000 in order to “catch” the best possible price.

What will be next? Let’s see BTC/USD’s price falls down to $8,000. You Limit Order is executed and you are in the market. In case if the price falls to fall down to $8,000, your Limit Order will be suspended until the price touches the level.

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Stop Limit Orders are used when the market volatility is high. Let’s assume you want to buy BTC/USD. The price currently is at $8,000. You think that Bitcoin is able to fall significantly during the next fork. However, you don’t want to sell it now as it has perspectives to grow as well. What to do next?

You may place Stop Limit Order at $7,000 for example. If the price reaches this level, Stop Limit Order will become a simple Limit Order (sell). The same thing for situations when the price goes upwards. You can place an appropriate Stop Limit Order to buy an asset if the price starts an uptrend.

Those Stop Limit Orders are especially useful in situations when you work with levels meaning you think that BTC/USD will break through the next resistance level for instance. However, there is no entry point currently. You want to open a position only when the price jumps over the resistance line. You need to place a Stop Limit Order above this level.

Stop Loss Order is designed to reduce traders’ risks. When you place it at a certain level, you want your position to be automatically closed there. Stop Loss Orders are tools of risk management. Let’s assume you have placed a BTC/USD buy order at $8,000 meaning you think the currency pair is going to grow. In order to protect your position, you place also a Stop Loss Order at $7,500. If the price goes downwards and reaches $7,500, your position will be closed automatically. You lose $500 in this case, but if the price continues to fall down, your Stop Loss Order prevents you from further losses.

Trailing Stops is a kind of Stop Loss Order. It varies from standard SL as it will follow the price at a certain set distance once placed.

Fill or Kill is a Limit Order, which his to be completely done or canceled.

OCO (One cancels Other) allows placing a couple of orders. If one of them is done, another cancels automatically.

Conclusion

We have described the main steps of cryptocurrency trading. They are very important as trading success comprises many aspects including the right choice of exchange, analysis, rules of money and risk management.

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🕵️‍ ICO Watch Tzao Se

The Unreal Estate: Why Blocksquare’s ICO Faces Big Big Problems

👁 ICO Watch
We don’t think Blocksquare’s ICO will reach the goals it says it will achieve, and here is why
The Unreal Estate: Why Blocksquare’s ICO Faces Big Big Problems

Blocksquare dwells on the idea that has occurred to anyone familiar both with ICOs and real estate development. “Look, there’s a such a nice property over there, why can’t I just start an ICO, raise cryptocurrency, buy that property, and make a profit for everyone by leasing or reselling this property.”

That's exactly what Blocksquare wants to do. This Slovenian startup intends to offer a platform allowing to create tokens that represent a share in commercial properties.

Nothing really revolutionary- essentially, it offers a smart contract-based REIT (real estate investment trust) or real estate crowdfunding with blackjack and hookers, I mean, with Blockchain and tokens.

Proof of title. Of what?

On Blocksquare, a token (called generically “proptoken”) is issued in cooperation with a real estate broker or property developer,  for a specific property. Crypto is raised, sold for fiat, and given as an interest-bearing loan to this developer or company.

Developer purchases the property using the borrowed money. The loan is secured by a mortgage on the target property in favor of Blocksquare. Interests on the loan are paid to Blocksquare in fiat currency.

Blocksquare, in turn, buys BST tokens on the market, and a smart contract distributes BSTs between holders of the token. From that point, it is all elegant and simple.

The core of Blocksquare platform is Proof of Title protocol. It claims to provide a way to connect a smart contract with the traditional land registry so that investors can always be sure that the target property still belongs to the entity that has initially purchased it, and there is no further encumbrance. Seems to be okay, too- even though it doesn’t insure from a lot of things.  

So what’s the problem?

The white paper may lead some of the readers to believe that Proptoken owner will be registered as a co-proprietor in the land registry. No, he won’t. There’s a “title escrow entity” mentioned in the white paper- a real-world company, vetted by Blocksquare, an established certified real estate company or developer “with a good track record.”

It is obliged by the loan agreement to pay interest to Blocksquare and to obey decisions made by token holders under consensus protocol. If they don’t pay, the mortgage defaults and Blocksquare transfers ownership to another Certified Partner.

It is not a problem per se, most group investments in real estate are organized in a similar manner (individual investors normally become shareholders of a company or members of a partnership that is registered as a holder of the title, or they are investors in a fund that owns it, etc).

But, in case of Blocksquare, there are few easily enforceable links between the investor (proptoken holder) and the property. The investor only has a quasi-contractual relationship with Blocksquare, based on the smart contract. Blocksquare is protected by a mortgage on the property, but proptoken holders aren’t.

They are dependent on Blocksquare or whatever real-world entity that floats the tokens. Not so de-centralized (especially for an investment that may last for years or decades).

Too many ifs

It will likely be fine, until Blocksquare as a corporate entity is fine, and is managed in good faith, and their partners do the same. If Blocksquare runs into problems, or there’s mismanagement inside the company, proptoken holders won’t be likely to have any priority over other creditors, as their investment isn’t protected by a mortgage - it is just ordinary debt. 

Theoretically, they’d be even in a less secure position: enforcing a smart contract in court may become difficult, at least in the near future until courts accumulate the relevant experience. Of course, even a verbal contract is valid under most legal systems, but it is just more difficult to enforce. The same goes for smart contracts.

Blocksquare is incorporated in Slovenia, but the management is actively scouting for a better regulatory environment in other jurisdictions, including Zug, Switzerland. So Slovenian or Swiss or possibly other courts will be competent over potential disputes between token holders and the company, whenever the property in question is located. It may even be good news for the investor, as they won’t have to deal with courts in obscure overseas jurisdictions.

There is no ready solution yet in terms of investor protection, as things stay right now. “We are looking into a legal structure that will account for all worst case scenarios. It is imperative for a system like Blocksquare to gain trust by taking all legal measures possible to protect the end-users e.g. PropToken holders”, responded Mr. Petrovcic, Blocksquare’s CEO to Cryptocomes, when asked about the destiny of proptokens in case if Blocksquare goes out of business, or absorbed by another company.

Technology

The technology that is the heart of Blocksquare is easy to replicate - the idea is obvious. It is not a rocket science to read the state of the land registry (or have a trusted law firm request an extract and post the state of ownership to the Blockchain, where land registries aren’t online).

When cryptomarket matures and relevant regulation appears, traditional real estate investment funds will add crypto investment possibilities, making Blocksquare position complicated. Blocksquare white paper completely ignores the possibility of the competition.

Also, the land registry is not the single potential point of failure of the whole scheme, so integration with it doesn’t grant the complete peace of mind to the investor.

Tokenomics

Proptoken holders will be paid in BST acquired on the market. To fix their profits, token holders will need to sell their BSTs on the same market. It is not uncommon that even the most liquid cryptocurrencies are traded with significant differences between sale and purchase price. So it won’t be illogical to expect losses when selling BSTs in smaller amounts. “Blocksquare might buy more BST on the market when prices are low, and less when the prices are high, but distribution will be valued on BST price averages. This option gives more stability to the BST token price when markets are volatile.”, - said Blocksquare’s CEO to Cryptocomes when asked how Blocksquare wants to deal with a situation of possible disparity between buy and sell prices of BST token.

Regulatory risks

As it looks right now, Proptokens created on the Blocksquare platform will likely be considered securities by most regulators- as they are offered to the public and bear  interest. This will require regulatory approval by many regulatory bodies for every country where they are offered, for instance with the SEC in the US.

Will Blocksquare will go and ask for regulatory authorizations for every proptoken issued? Will it mean a substantial legal hassle, that will be passed on to issuers? Will this set a natural lower limit for investment, that makes all that trouble worth its while, like in case with IPOs, where one doesn’t go for it unless they need at least certain amount?

All great questions and I wish I had all the answers. As I said, Blocksquare issues a loan and in the eyes of local authorities that's what it is,” told me Denis Petrovcic, Blocksquare CEO, to the questions raised above:

I believe we are now in 1903, looking at a Ford car, while on the road we have carriages and horses and we are trying to mount horses in front of cars, keeping the engines off, just so they would look more like carriages.”

“I would argue Blockchain-based tokens differ from traditional securities in the way accounting is conducted, validation is performed and ultimately medium of value exchange is stored,” he adds. “Just like a carriage and a car, they both do the same job, just the new invention does it much better than what was previously used and society needs first to adapt and put new rules in place so people can safely use them.”

Until that happens though, one may see a possibility of regulatory intervention on behalf of the citizens of different countries where proptokens are offered (or restrictions of availability, as many ICOs do these days).

Given that seeking even one single regulatory approval for a security isn’t generally a quick or cheap process, this may theoretically limit the possibilities of offering proptokens worldwide (at least, legally).

This questions the main assumption of the project - the ability to open the worldwide market in a frictionless manner. In the close perspective, it will be neither worldwide nor frictionless, if done in a compliant manner.

Customer base and revenue assumptions

Blocksquare expects to tokenize 5,000 properties worldwide on the second year post-ICO and 70,000 third year. Given the circumstances we have considered above, it is questionable whether Blocksquare can attract traditional property investors (given overheads, lower level of investment protection compared to traditional investment vehicles, low penetration of cryptotechnology).The Unreal Estate: Why Blocksquare’s ICO Faces Big Big Problems

If this premise shows to be true, Blocksquare would attract mostly investors who already hold cryptocurrencies or mine them.

So Blocksquare’s proptokens will compete with other ICOs for the investor base.

Now, they expect that proptokens’ capitalization will reach $2.5 bln to the end of the second year, and some stunning $35 bln in the end of the third year of operation.

Improbable goals

These numbers are just a simulation of growth based on the number of properties in the system. If you look at the number of Airbnb flats , there is more than 1 trillion USD worth of real estate listed on a short-term rental platform.... and we didn't even start looking at other rent-generating properties”, says Blocksquare’s CEO when asked what motivated their business case’s assumptions. “Can we achieve those numbers? Perhaps. Will it to be hard to get there? Most definitely. How do we start? Flat by flat, unit by unit.

Just to remind ourselves: all ICOs combined have raised about $4 bln in 2017. And Blocksquare wants us to believe that almost 60 percent will be raised by a single consortium (i.e. Blocksquare + Certified Partners), and then, the next year, they’d raise amounts the same order of magnitude to what Ethereum is worth now.

Given that property returns are relatively low (five percent p.a. before taxes is considered a good deal, at least in Europe), and most ICOs are speculative, Blocksquare proptoken offers will attract a relatively limited investor base looking for stability.

I’d be happy to be mistaken, but I see it improbable that Blocksquare will reach the ambitious objectives it aims for.

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Coins Guide George Shnurenko

How to Buy Dash in 3 Simple Steps – A Beginner’s Guide

🎓 Coins Guide
Dash is a cryptocurrency platform with an emphasis on privacy, decentralization and acceleration of transactions.
How to Buy Dash in 3 Simple Steps – A Beginner’s Guide

Introduction to DASH trading

Dash is a cryptocurrency platform with an emphasis on privacy, decentralization and acceleration of transactions. Taking into consideration all the aforementioned advantages, it poses as a viable alternative to Bitcoin and Ethereum. The company’s team consists of about 50 developers who are currently working on improving the network’s protocol. As of 2018, Dash has the 13th biggest market cap among all the cryptocurrencies, and its value keeps constantly increasing.

The Main Pros

The founder of Dash states that there are numerous ways of how you can spend the cryptocurrency. Because of the PrivateSend feature, all transactions are completely anonymous. Masternodes mix up coins and generate completely new addresses which makes it impossible to trace a certain transaction.

Another important feature is called InstantSend which reduces the payment confirmation time to virtually a single second. Fast transactions are crucially important for integrating cryptocurrencies in the global financial system. Bitcoin, for instance, draws a lot of criticism because of its long confirmation time that varies anywhere from 10 minus to a whole day. Moreover, InstantSend effectively solves the issue of double-spending when the same coin can be spent several times. This problem isn’t typical for fiat money since it is impossible to reduplicate them. However, the authenticity of cryptocurrencies still raises concerns.

In short, Dash makes it possible to privately make ordinary transactions without sacrificing convenience or speed.

Dash or Bitcoin?

Without a doubt, Dash is one of the most popular altcoins on the market, but can it stand competition against Bitcoin? Bitcoin still firmly holds the first place after an unprecedented breakthrough in 2017. However, Dash’s future looks more promising thanks to the aforementioned features which make transactions fast and secure. Nobody in the real world will be able to buy groceries with Bitcoin: its protocol would need to undergo significant changes in order to do that.

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Beginner’s Guide to Buying Dash


1. Create a Dash Wallet


If you are planning to invest your money in Dash, the first thing that you have to do is to create a new wallet that would allow you to store your coins. There are numerous alternatives that you may consider: hot wallets, semi-cold wallets or cold wallets. Let’s find out what advantages each of these options has.

Hot Wallets

Basically, these are all online-wallets. You can directly store your coins on a certain exchange or withdraw your money to an online-wallet of your choice. The most obvious choice would be Jaxx wallet which is available for all popular platform. Jaxx can function as a simple Google Chrome extension or as a mobile app. Hot wallets are good for beginners who want to understand how cryptocurrency trading works, but they are hardly suitable for long-term investment purposes, since they provide users with only a minimal layer of security.

Cold Wallets

Before describing cold wallets, it is also worth mentioning semi-cold wallets which remain in an intermediate position. Semi-cold wallets are downloaded on a computer and can be used offline, so technically they are similar to a hardware wallet. It is advisable to install a software wallet on a computer without an Internet connection in order to eliminate the possibility of a phishing attack.

The most common type of cold storage is a hardware wallet. It is a device which is specifically designed for storing cryptocurrency. The money are stored offline, but the device has to be connected to your computer in order to conduct a transaction. Nevertheless, hardware wallets are considered to be completely secure because you actually have to press a mechanic button on the device for the transaction to be completed.

There hasn’t been a single case of hardware wallets being hacked by scammers, so that might be comforting for those individuals who are concerned about the safety of the cold storage. There are plenty of hard wallet brands, but it is safe to say that such brands as Trezor.io and Ledger are definitely dominating in this niche. Trezor.io and Ledger Nano S are both on par when it comes to functionality, price and safety features.

2. Purchase Dash

Those who have been in the cryptocurrency world for more than a year may remember that it was extremely difficult to purchase Bitcoin during the earliest days of its existence. Even now buying Dash may be much harder than you initially think. In fact, not all exchanges allow you to directly buy Dash with fiat money. It is much easier to buy Dash if you already own Bitcoins and simply trade it for Dash.

Buying Dash with a Credit Card/Wire Transfer

CEX.IO is one of the acceptable options if you want to buy Dash with money. Dash trading was launched on this reputable London-based exchange in 2016. There are currently four trading pairs that include Dash. If you want to buy Dash via CEX.IO, you can deposit money either with the help of your credit card or via wire transfer. CEX.IO is one of the most global exchange services that is supported almost in the majority of countries.

Bitfinex is a well-known Asian exchange based in Hong Kong. Dash is among 13 cryptocurrencies that are supported by Bitfinex. Beware of the fact that US investors are not able to use this exchange anymore, so they will have to look for another option. As any other exchange service, Bitfinex requires ID verification for conducting transactions (the average time of verification is about two weeks).

eToro is yet another exchange for European customers which is exclusively suitable for trading purposes. It does not allow users to conduct any transactions with a third party. eToro provides its users with useful trading instruments that make it possible to speculate on price and later exchange crypto into fiat money. Before making any investments, pay attention to the fact that the cryptocurrency market is extremely volatile. Since cryptocurrencies are not regulated by the EU, you take a significant risk if you decide to invest a substantial amount of money in any altcoin.

You may pay attention to another European exchange which is called

BitPanda. This service offers a lot of payment methods, but it has major drawbacks like low buying limits (only 600 EUR) and a small number of available countries. If you deposit money via SEPA, then AnyCoinDirect will also come in handy.

Speaking of US brokers that allow purchasing Dash,

Kraken is probably the most prominent one. This exchange is also widely popular in Europe because of its high trading volume. Both credit card payment and wire transfer are available for Kraken users. Kraken also requires you to submit documents for verification, but it usually takes only a couple of days for an account to be confirmed.

Buying Dash with Cash

You can use http://coinatmradar.com in order to find a Bitcoin ATM that also supports altcoins. This useful online tool helps to track the nearest ATMs in your area. The most obvious choice is General Bytes Bitcoin ATM which is currently available in many states of the USA. As of 2018, General Bytes is the largest Dash-supporting ATM network in the world. Moreover, the team currently is working on creating integrating Dash into the Lamassu ATM network that currently works only with Bitcoin. That would potentially make Dash more accessible to general public that isn’t knowledgeable enough about the peculiarities of online trading.

In May 2017, Dash also made an announcement about its partnership with Wall of Coins, a popular online service that allows buying cryptocurrency with paper cash by simply making a deposit in your local bank. Wall of Coins is constantly expanding the list of available counties with many European countries like Latvia and Poland already being on it. While using ATM comes with rather draconian fees, that’s not the case with Wall of Coins since they are not charging any fees for buying and selling cryptocurrency. Moreover, you are basically getting Dash at its current market price, so all transactions are quick and inexpensive. The money can be deposited to your account in about 15 minutes.

3. Withdraw Dash to a Wallet

Leaving your money on an exchange is never a good idea as they can be easily compromised by hackers. Always remember to send your Dash coins to your wallet. Numerous kinds of wallets that are suitable for storing Dash were described above.

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Darryn Pollock

What is Holding the SEC Back From Pulling the ETF Trigger?

Regulators have always been slow and cautious beasts, but what is the real reason behind the Bitcoin ETF hold up?
What is Holding the SEC Back From Pulling the ETF Trigger?

Even since before the SEC made its move to allow companies like CBOE and CME to offer Bitcoin futures, there has been increased interest and pressure for other forms of institutionalized products to be linked to Bitcoin. The biggest in the recent months has been a push by a number of firms for Bitcoin ETFs.

However, the SEC has been very cautious in its approach to approving this, it has denied a number of applications already, delayed some others, and is still scrutinizing many others that await its decision.

There is a good reason for the SEC being so cautious, as this is still a highly unregulated space, that is still very nascent and fresh, so the need for a regulator to take care is important, but is the SEC’s process overly cautious?

A big ETF drive

While there has been a big push for ETFs in the past few months, and many are hanging their hat on them for the sake of an explosion in the Bitcoin market, the SEC has seen a Bitcoin ETF application before and turned it down.

The Winklevoss Twins, famous for their belief in cryptocurrency and their exchange, Gemini, made an application in 2017 to the SEC for a Bitcoin ETF that was quickly turned down. They again tried in 2018, with the same result.

But their ETF application is not the only one that has been turned down, in act,  a bunch of at least nine were denied by the SEC in August while one of the more promising one, by VanEck, has been delayed.

Still, there are a few left that the SEC needs to make a decision on, and the feeling is, if they approve one, it will be monumental for Bitcoin and help the asset skyrocket again.

Why the skepticism?

So, while the cryptocurrency and investment world waits with bated breath, what is the SEC thinking when it comes up against these applications?

The denial of nine ETFs in August, was actually a long and drawn out process, involving a rule change too. It took several months just for the SEC to begin its typical process for evaluating rule changes. After a required comment period, the agency gave itself one more two-month extension, which led to the final decision in August.

In its order, the SEC tried to make it clear that the agency hadn't looked at the validity of bitcoin itself. In the words of the commission, the "disapproval does not rest on an evaluation of whether Bitcoin or Blockchain technology more generally, has utility or value as an innovation or investment."

So, the SEC is not that concerned about Bitcoin and blockchain in its purest sense, but rather concerned about the cryptocurrency market because of the threat of fraud and manipulation in this nascent space.

The SEC has even rejected the idea of using the newly formed Bitcoin futures market as a yardstick to measure the success that an institutionalized investment tool would have in this precedent-breaking market.

Waiting for a strong market

Much like many arguments when it comes to Bitcoin and the related Blockchain space, it is not the technology or the cryptocurrency that is the problem, it is the way that it is used, perceived, or manipulated.

Many have made the argument that Bitcoin is a problem because it is used to buy drugs- that is a poor argument as the problem does not lie with Bitcoin, but how people use it.

The same applied for the SEC, they have stated they are not criticising the asset, rather the emerging market around it- which has been subject to many hacks, scams, manipulation and other such teething problems.

Perhaps, once the market matures a bit, and the problems abate and fall away, the time will be right for the regulator's rubber stamp of approval.

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David Dinkins

Ripple Will Not Be Next Bitcoin, But That’s Not Bad

Ripple will not be the next Bitcoin, but it could still be wildly successful
Ripple Will Not Be Next Bitcoin, But That’s Not Bad

Voltaire famously wrote that the medieval Holy Roman Empire was neither holy, nor Roman, nor an empire. In the same way, at least according to the MIT Technology Review, Ripple is neither decentralized nor a currency. But lest we judge it too harshly, it’s wise to remember that it was never intended to be either.

Next Bitcoin?

For years, cryptocurrency languished in obscurity. Assuming they didn’t make too many missteps along the way, early adopters of Bitcoin became millionaires. Many of those who were a little late to the Bitcoin party became early adopters of altcoins, and also became millionaires. Now that crypto has burst into the mainstream and made many people fabulously wealthy, crypto newcomers are desperate to pick the next Bitcoin. Every new investor seems to think if they can buy a digital asset for less than a dollar, they’ll become ridiculously rich when that asset eventually hits $10,000, as Bitcoin did.

While it can’t be definitely said that there isn’t another nascent Bitcoin waiting in the wings somewhere, if there is one, it certainly isn’t Ripple. The currency’s wild ride last year made it the best performing crypto asset in a year of incredibly well-performing cryptocurrencies. Ripple ended the year up by 38,000 percent. No, that’s not a typo.

Those who invested before last summer are all incredibly wealthy now, even after Ripple dropped back under $1. Nonetheless, an important fact remains.

Ripple is not the next Bitcoin.

Different animal

Ripple is something entirely different. While Bitcoin seeks to be a decentralized, peer-to-peer means of digital value exchange with a strong anti-establishment bent, Ripple does not. In fact, Ripple is almost the opposite- it’s highly centralized and extremely friendly with big banks. There’s a good reason for this: Ripple doesn’t intend to be a currency used by ordinary folks buying coffee. Ripple wants to be used by banks to move large numbers of very big transactions each day.

Ripple is an extension of a system banks already know and understand. Ripple is a centralized company whose network relies on “trusted” servers. Banks are cool with that because that’s what they understand. Ripple has premined all 100 bln coins and keeps the remaining 50 bln in escrow, which is fine, because that’s what big companies understand. Companies are used to an IPO where large numbers of shares are created all at once, from nowhere, and distributed to investors. They can understand premines, too.

As the MIT Technology Review states:

“Ripple’s big bet is that XRP will become a ‘bridge currency’ that many financial institutions use to settle cross-border payments faster and more cheaply than they do now using global payment networks, which can be slow and involve multiple middlemen. Bitcoin could be used to do this too, but Ripple can settle 1,000 transactions per second, compared with Bitcoin’s seven, and its transaction fees are much lower.”

Ripple without XRP

The MIT Technology Review also notes that unfortunately for Ripple investors, while its technology is popular, Ripple’s XRP token is not:

“Here’s the catch, though: Ripple’s Blockchain-based payment network doesn’t need a bridge currency to work, and nearly everyone using the network has so far chosen to exchange digital IOUs instead.”

This could certainly change, and CEO Brad Garlinghouse has hinted that it will, but for now, XRP is a fairly speculative play. Ripple is not another Bitcoin, but if everything goes really well, it could be another SWIFT or Visa. The only remaining question is whether the company’s bank customers will use the native XRP token, or settle in dollars as they currently do.

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Wikicoin Vera Thornpike

Verge Price Prediction 2018/19/20: Will XVG Surprise Us?

📚 Wikicoin
Will Verge cryptocurrency reach $0.1 this year?
Verge Price Prediction 2018/19/20: Will XVG Surprise Us?

After being in the shadow of Bitcoin and other coins alike, Verge finally started making waves and attracted the attention of crypto traders from all over the world. Wonder whether it is a good option for investment? Let’s find out the Verge price prediction for the nearest future and decide whether the game is worth the candles.

What is Verge?

Verge cryptocurrency was initially invented in 2014 and initially called “Dogecoin Dark.” However, the name was changed to avoid association with crimes. Its creator, “Sunerok,” decided that Bitcoin doesn’t sustain proper anonymity, so he developed a Blockchain that would guarantee private fund transfer.  Verge hides everything: the owner of currency, historical transactions and account balances. Therefore, it’s best suited to tackle anonymous transactions.

Verge vs. altcoins
Comparison of Verge with other cryptocurrencies

 

Were the previous XVG predictions justified?

To get better insight, let’s learn about the history of the coin right from the start. The peculiar fact that Verge was launched without an Initial Coin Offering and even without pre-mining contributed to zero popularity of this project. Until 2016, the rebranding year, no one knew about Dogecoin Dark.

Some two years ago, XVG was worth $0.000005 per coin. After rebranding, the price raised to $0.00001, which is a 100 percent rise. The highest value of Verge in 2016 was $0.000227 per coin. In 2017, the price started growing slowly, and at the end of the year, it soared together with the other cryptocurrencies. It reached the height that hasn’t been repeated since then.

In November 2017, Verge coin prediction was as follows:

XVG Price prediction December 2017
Verge price prediction for the end of 2017

In three weeks of December, the cost of Verge sprang from $0.005 up to $0.14, which was an increase of 2,700 percent! However, in a week, it dropped down to $0.09. Apparently, Verge coin price predictions were too optimistic back then, but what happened truly amazed the investors.

Verge prediction 2018

Although Verge experienced a severe drop since January 2018, some investors are sure that it may rise by 100 percent and higher by the end of this year. So, what’s Verge price prediction 2018? According to market analysts, XVG is in the ‘bullish’ zone, which means investors believe in its potential, and their contribution makes the coin grow in price.

A good example is a tweet posted in March 2018. Verge claimed they would establish a “Mystery Partnership,” which actually was postponed, but made Verge rise quickly and even reach $0.11.

Here are some other versions of Verge coin price prediction 2018:

  • According to Coin Switch, XVG may rise to $0.0736 by the end of 2018, and in five years, it may even hit the benchmark of $0.2069.

  • Walletinvestor Verge coin 2018 forecast is around $0.0442 (within a year). The five-year prediction is $0.165.

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The last three months of 2018 promise to become interesting: Verge price can still grow considerably. First, Verge will establish a partnership with TokenPay (they will even release a debit to be funded with Verge). Secondly, Verge can become one of the first privacy coins to promote the smart contract technology. The team is tight-lipped about the creation of the proprietary Rootstock protocol, and if released successfully, it can trigger the XVG price considerably.

XVG price prediction 2019

According to megacryptoprice.com, Verge will rise to $0.169428 in a year, which will add 1,100 percent to the current value. Verge coin price prediction on WalletInvestor is less optimistic: while users expect it to rise to $0.02, Facebook is more optimistic with its forecast $0.07. The website claims XVG will grow to $0.039 in a year. Coinfan website shows that the price can grow from $0.029 to $0.12.

Verge coin future price in 2020

In 2020, we can witness a significant growth of Verge price: according to Coinfan, it can grow from $0.1 to $0.45. WalletInvestor shows that Verge price will be around $0.06 in 2020. TradingBeasts has the same numbers.

Check out a video report about Verge forecast:

https://www.youtube.com/watch?v=22Z2-GEkndE

How much is Verge now?

With the market cap of $212 mln and a huge circulating supply of 15,172,086,051 coins, Verge sells for $0.01402. XVG is on the 41st place in the rating of world cryptocurrencies. It is present on different exchange platforms, so you can easily purchase some coins.

What may influence Verge cost?

Verge XVG price prediction will be defined by a whole range of factors. Let’s check how its cost can be impacted:

Factors that may drive its growth

Factors that may slow down its growth

Overall demand for private cryptocurrencies and XVG.

Competition. Verge is not the only private cryptocurrency. PIVX, Monero, Zcash, and other coins are its direct rivals.

Availability. Since Verge is present in many different exchange platforms, users have more chances to buy and sell it, which adds up to its value.

The potential for criminal activities. Since it’s a private coin, it can be used in the criminal sphere, which can potentially damage its reputation and slow down adoption rate.

Regulation opportunity. Optimal regulation will help Verge to overcome legal and tax barriers.

Too large supply. Overall XVG supply is 16,555,000,000 XVG, which is too much.

Future implementations and developments. Users bet that the Rootstock project can significantly promote Verge. The team is also working on the Wrath Protocol which will hide all details from the transaction.

It’s not fully developed. The technology at the foundation of Verge is still being developed, so it’s not clear what the future of Verge will be.

Adoption and acceptance. Verge is on its way to implementation in real life, which only increases demand for it. For example, recent news about Verge adopted by PornHub has exploded the crypto community.

 

Taking all these factors into consideration, it’s hard to give some precise forecasts: you never know which factors will play the key role.

 PornHub started accepting Verge!
PornHub started accepting Verge payments, which contributed to significant coin growth

 

Bottom line

So, is Verge a worthy investment? Although it’s hard to give any certain forecasts, this crypto coin promises to grow. Slowly but steadily. Therefore, if you’re ready to wait two to three years to get revenue, invest right now. Verge is one of the crypto pioneers in the niche of private transactions, so should definitely retain its position.

Wikicoin
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