In a recent tweet, one of the leading Ethereum Classic (ETC) developer teams announced that it intends to stop all its work. The reason is lack of funding, which prevents them from continuing work on the ETC network.
The team’s founder, Igor Artamonov, shared that for the past few weeks, the developers have been going through a difficult period due to the overall market slump and lack of cash in the startup. Attempts to find any short-term financial support have failed.
The ETC Development team is one of the leading teams that is supporting the ETC platform with decentralized computing. It is also in charge of maintaining the major client for ETC – Classic Geth.
The team seeks investment
A couple of days ago, the ETCDEV team addressed ETH users on Twitter, directly asking if they want to finance the operations the developers have to do. A public poll showed that 60 percent are not willing to do that, with just 40 percent agreeing. The community consists of around 700 members.
Other dev teams of ETC community
Apart from ETCDEV, the Ethereum Classic platform is supported by other teams, among them are IOHK, Ethereum Commonwealth, and a few others.
CoinMarketCap states that over the last day, ETC decreased by over 13 percent. It is highly likely that the decline is due to the general crypto market drop, as well as to the market response to the news provided by ETCDEV. The coin’s current price is $4.72.
The asset demonstrated high momentum when it was listed on the Coinbase exchange earlier this year. Still, any gains ETC had were reclaimed by the sellers in the market. However, for now, other dev teams keep working on the project.
Cryptocurrency continues conquering the world of finances, and the number of cryptocurrency enthusiasts is growing. Should you join them? Consider these 5 reasons for becoming the next cryptocurrency investor.
In 2017, Bitcoin propelled into the spotlight and started growing in price at a remarkable rate. Trading cryptocurrency has become a widespread trend, and the number of people who invest in crypto has exceeded 500 mln. Crypto enthusiasts claim that Blockchain and altcoins are here to shake the modern economy to its core. Are we witnessing a major shift in the global economic system? Definitely. But should you invest in cryptocurrency? Here are at least five reasons for considering it.
1. Your money always stays yours
The lynchpin of Bitcoin success is the technological supremacy of this Blockchain. Thanks to such innovation, electronic transactions can be made much faster and safer. Blockchain encrypts data preventing access to it from all internal sources at every stage of transaction processing. The blocks containing data are stored in a decentralized manner which means the information cannot be deleted or forged.
While banks where we store our funds can be robbed or simply closed after claiming bankruptcy, when you invest in cryptocurrency, your money stays yours forever. Make sure that you work with reliable exchange platforms only and use official crypto wallets with multi-layer protection. Ideally, you should use a hardware wallet to ensure 100% protection of your assets.
2. No government involved
Bitcoin Blockchain offers a revolutionary approach to asset handling: from now on, no middlemen such as banks or governments are required for transactions and exchange. They simply have no control over the circulation of digital assets and cannot access the data related to financial operations done with Bitcoin. Therefore, it disrupts the system that's been around for centuries and brings the power back into the hands of ordinary people.
If you care about liberty, the nonaggression principle, or economic freedom in general, you should do everything you can to use Bitcoin as often as possible in your daily life.” – Roger Ver aka “Bitcoin Jesus”
Integrity and safety of virtual money are one of the main reasons to invest in cryptocurrency. No matter what’s the official fiat currency in your country, and which fluctuations it is experiencing – cryptocurrency does not depend on it. While some countries practice fine withdrawal from citizen’s bank accounts, it cannot happen in the virtual environment – no third party can access your crypto wallet.
Although it allows for anonymous transactions, Bitcoin is built on the principle of transparency. That means that the details of financial operations are stored in the Blockchain and can be viewed when necessary. This feature might be highly valuable for public transactions. The whole community can reap benefits from a crystal clear system of asset allocation. Here we tackle not the financial issue only — Blockchain allows us to handle all the other information as well.
Altcoins being widely adopted in a wide range of spheres: ICOs in different niches are being introduced every day, and usual businesses start implementing Bitcoin payments as well. This is a versatile currency that erases international borders. Thousands of Bitcoin ATMs are already installed in large cities around the world, and it's only the tip of the iceberg. BTC and altcoins provide us with umpteen possibilities replacing all existing fiat currencies both theoretically and practically. It becomes a more convenient, safer and faster way of payment and transfer.
4. Investment is as simple as never before
Wonder “How do I invest in cryptocurrency?” Everything is easier than you think! Now, every person with access to the Internet and free funds can make an investment. Here’s a short scheme of how it works:
You need to have a plastic card to purchase crypto online.
Create a cryptocurrency wallet. It can be either the wallet for some certain coins or a multicurrency wallet.
Find where to invest in cryptocurrency. As a rule, people make transactions in online exchange platforms.
Create a purchase offer, or find ready requests to answer.
As soon as you make a purchase and pay for the crypto, coins will be transferred to your wallet.
Now you only need to track cryptocurrency fluctuations and purchase and sell coins in a timely manner to make a profit. The golden rule of trading is NOT to invest what you can’t afford to lose. Invest the money that you can live without, and don’t panic after the first currency fall – it’s better to wait over.
“What cryptocurrency should I invest in?” Bitcoin is not the only option – if it was easy to mine a few years ago, now it’s impossible to obtain in any way except for buying. Don’t despair, there are hundreds of altcoins! They aren’t equally reliable, and you need to analyze them carefully. With boatloads of information online, you can make certain conclusions and make the right choice.
5. Forecasts are promising
As a potential or real investor, you focus on long-term viability and profitability. If you analyze every cryptocurrency shift, it can drive you crazy – you can be sure that you’ve made a wrong investment decision. Being in panic, you can sell the coin for a lower price than you purchased it for while holding would be a better idea.
Why invest in cryptocurrency for long terms? Cryptocurrency fluctuations are inevitable. They happen all the time, that’s why making short-term predictions is harder than long-term ones. Despite the major surge of cryptocurrencies which happened in January 2018, Bitcoin and other popular cryptocurrencies are likely to grow within 2-5 years. Most forecasts are optimistic. Therefore, if you’re looking for a serious investment with serious profit, opt for longer terms, at least 1-2 years.
What the major cryptocurrencies will be worth in 5 years? Let’s check the numbers at WalletInvestor:
Cryptocurrency creates a new era for the modern economy, a utopian system where everyone can stay confident in the privacy of their assets by transferring them around the globe without limitations. It provides us with new possibilities, and getting profit is one of them. Being among the first to buy crypto, you create history and help the world economy to make a serious switch.
“Should I invest in cryptocurrency?” The answer is resounding “Yes!” Choosing cryptocurrency as an investment is a wise solution if you place a bid for the right horse. Don’t hesitate to invest in technologically advanced Blockchains and popular coins – most of them will sooner or later gain momentum to grow in price, which can bring you considerable profits.
The ever sunny California is known for its tech hub, Silicon Valley, a product of the “dot com” era and home to many startups turned giants. Fewer people know that there also exists a much newer creation, Silicon’s foggy crypto twin, if you will, known as Crypto Valley, located in the town of Zug, right by the lake of the same name, near Mount Zugerberg, in Central Switzerland.
The mastermind behind this whole endeavour is Johann Gevers, who without too much coyness, rather straightforwardly, describes himself in the following way:
“I am the founder of Crypto Valley, the world’s leading cryptofinance ecosystem, and founder of Monetas, an award-winning transaction platform that brings the world’s most advanced financial and legal services to everyone with a mobile phone. Cryptofinance technologies are revolutionizing the global financial landscape, and will profoundly improve the lives of people everywhere by enabling them to live in freedom and to generate limitless prosperity.”
While Monetas may be a somewhat less familiar name to those involved with the Blockchain, Gevers’s more recent child, Crypto Valley, is becoming more and more of a household name. The Valley is a relatively new phenomenon, having been established in January 2017 as the Crypto Valley Association (CVA), whose goal is to “develop the world’s best ecosystem for Blockchain and other Distributed Ledger Technologies and businesses”.
Interestingly, the CVA has the backing of the local Swiss government—undoubtedly, the founder’s commendable achievement—which is why numerous Blockchain companies take to flight precisely there, while many others have since moved to the Valley from elsewhere. All in all, there are over 300 Blockchain companies from 20 different countries residing in the Valley at present.
As a result, it comes as no surprise that the whiz kid Vitalik Buterin of Ethereum, though born in Russia and raised in Canada, chose Crypto Valley as his project’s starting point. Not everyone may know that Buterin’s now well-known crypto creation was born and saw its development as “Eth-Suisse” (Ethereum Switzerland GmbH) back in 2014, later also evolving into “Stiftung Ethereum” (Ethereum Foundation), a non-profit organization. Unsurprisingly, Ethereum-backed Consensys, as well as Tazos and Xapo also have offices in the Valley.
CVA has a high-end commune type structure with its own code of conduct and seemingly limitless willingness to invite new talent, from developers to legal aid:
“We support and connect startups and established enterprises through policy recommendations, projects across verticals, initiating and enabling research, and organizing conferences, hackathons, and other industry events.”
Among some of the CVA’s divisions of labor are:
Research and Development
Accounting and Structuring
Policy and Regulation
In this respect, Crypto Valley truly is an multinational hub where some of the best cryptographers, programmers, engineers, regulators, security experts, and financiers, to name only a few categories, are said to be living side by side. For those wishing to get involved and/or invest, the CVA also promises complete commercial transparency and proximity to global markets.
It is, therefore, a no-brainer that Crypto Valley is also the organizer of the Crypto Valley Blockchain Summit: the last one was held in April of this year with the industry’s top guns and members of the European Parliament having attended. This event goes hand in hand with the Valley’s public proclamation:
“With active connections to similar hubs around the world, we also ensure Crypto Valley’s participation in the global efforts to foster Blockchain and cryptographic technology innovation.”
Beyond the Valley
Crypto Valley has been pushing the envelope ever since its inception. But, having been enveloped in all things Blockchain, the local Zug community itself is now undergoing a major crypto change. In July of this year, Swiss authorities declared that a Blockchain-based voting trial they had been running was a success, not to mention the fact that the municipality of Zug was the first place in the world to accept Bitcoin as an official means of payment back in 2016.
To top it off, Switzerland’s Minister of Economics, Johann Schneider-Ammann, made the headlines this January when he vowed to make Switzerland a “crypto nation in five to ten years” and thereby adopt a national cryptocurrency in the process. Similar voices had been heard before from Venezuela and even China (despite the apparent ban on ICOs), but this was the first time a high-income developing country in the West said anything of the kind.
With the eager fintech minds of the Valley cooking up applied cryptography as we speak and local governments—who know too well where the money is—bowing in support, Switzerland is likely to make yet more headlines in the months and years to come and emerge as a mighty crypto force of the modern era.
While the future of Bitcoin remains debatable given the dramatic drop in price, many big-name companies are diving deep in the technology that underpins it – Blockchain. Juniper Research has concluded that six in ten large-market cap companies are mulling over using Blockchain. U.Today has come up with the list of top 10 Blockchain-related stocks you should keep an eye on in 2019.
IBM, the well-known old-timer, desperately needed a new technology in order to revive its ‘mojo’. As of now, the tech giant has more than 1,500 employees who are focused on the development of projects that are powered by the Blockchain technology. Hence, it makes IBM one of the most enticing Blockchain stocks to invest in out there.
Many accomplished companies started dipping their toes in Blockchain after the word ‘Bitcoin’ hit the mainstream, but Big Blue has an obvious advantage: they jumped on this bandwagon years ago with about 500 currently active projects in such industries as finance, healthcare, logistics, etc. After investing in this stock, you don’t have to worry about volatility – the tech giant is here to stay.
Ironically, Mastercard has been bullish on Blockchain for a long time (despite the fact that the much-hyped technology comes from a rivaling industry), and that’s why its stocks are always an option for investors. Back in October 2017, Mastercard threw a spanner in the works by offering banks a Blockchain-based alternative to making payments, ditching traditional credit cards. Remarkably, Mastercard became only the second company on the Fortune 500 list to work on decentralized payments only after (you guessed it) IBM. Obviously, Mastercard’s Blockchain only supports fiat money, so that’s by no means a Bitcoin-related stock.
Recently, the payment giant has also filed a patent application that is supposed to make their transactions anonymous. Does it sound familiar?
Hitachi, the Japanese tech conglomerate with a market cap of around $38.5 billion, also has a few Blockchain-oriented projects up its sleeve. In December, Hitachi teamed up with Mizuho (NYSE: MFG ) in order to develop a decentralized platform for enhancing the efficiency of supply chain management. Later, Hitachi also came up with a project that allows verifying retail payments with fingerprints by recognizing the vein pattern.
The ‘courting stage’ between the 108-year-old company and the most promising innovation since the Internet started in 2016 when the conglomerate invested top-dollar in a Financial Innovation Laboratory in California. Now, Hitachi is one of the hottest stocks out there.
Microsoft Stock (NYSE: MSFT)
Microsoft, along with IBM, is yet another old-school stock that needs no introduction, and there’s fierce competition between these two in the Blockchain field. Its Azure Blockchain is already being integrated by NASDAQ, AT&T (NYSE: T) and other major players.
Both Microsoft and IBM are working on private applications, and there’s some confusion when it comes to investment choices. The latter places a bigger emphasis on independence with its Hyperledger Fabric Blockchain framework. The thing is, IBM was largely responsible for writing the framework’s codebase. Meanwhile, Microsoft Azure is Ethereum-based, which means that it is dependent on the decisions of the Ethereum Foundation when it comes to making code updates.
For sure, Broadridge is a top-of-the-mind option since the company has already cooperated with major banking institutions (Northern Trust (NYSE: NTRS), JPMorgan (NYSE: JPM)) that are utilizing the DLT. Broadridge has developed a couple of DLT use cases like proxy voting, which makes it much easier for shareholders to reach a consensus on certain matters.
Broadridge’s Horacio Barakat claims that businesses are not denying the disruptive potential of Blockchain, but only few of them have the required resources for its implementation. Still, the fact that Broadridge has the biggest banks among its partners makes it a very reliable stock.
HIVE Blockchain Technology Stock (CVE: HIVE)
That’s the only stock issuer on the list that is directly connected to cryptocurrencies (cryptocurrency mining, to be precise). The company owns multiple mining facilities that mine Ethereum around the clock (the first one was acquired in Iceland in 2017). After a whopping $100 mln funding round, the company made an announcement about opening more mining farms.
However, given the current state of cryptocurrency mining, investors should be extra cautious about purchasing their stocks. For instance, Genesis Mining, their largest shareholder, stirred a substantial amount of buzz in August after terminating a slew of unprofitable contracts.
NB! Here are some other stocks with a pure focus on Blockchain:
This Germany-headquartered car manufacturer (mainly known for its Mercedes-Benz) became one of the first auto giants to make a rodeo into Blockchain. With sizeable investments in other state-of-the-art technologies in the likes of AI, Daimler is rightfully considered to be the digital champion of the global car industry.
In 2017, Daimler introduced its own Blockchain bond dubbed a Schuldschein (becoming one of the first companies to do so). Another reason why Daimler made it to our top 10 Blockchain stocks list is the MobiCoin cryptocurrency that was issued in March 2018.
Bank of America Stock (NYSE: BAC)
If you are a firm believer that Blockchain will eventually turn out to be bigger than the Internet in the nearest future, the stocks of Bank of America (BofA) are your safe bet. The second largest banking institution in the US only trails IBM by the number of Blockchain-related patents. Its patents pertain to storing private keys and data authentication. Notably, the first Blockchain-oriented patent was filed by BofA in 2014, which means that they were one of the early adopters of the emerging technology along with IBM.
However, the fact that BofA remains in first place in the ‘patent race’ doesn’t necessarily mean that all these patents will have real-life commercial application. On the flip side, there is a good possibility that BofA stock could potentially shoot up once decentralization becomes more widespread.
Overstock.com became the first US retailer to accept Bitcoin, hoping to revitalize its business with the help of the nascent technology. One of the major US retailers turned crypto giant has a subsidiary, Medici Ventures, that specifically invests in promising Blockchain startups that cover such emerging areas as finance, digital identity, voting, etc.
Still, there are caveats. Since the former Amazon competitor is now heavily invested in cryptocurrencies, its stocks have been riding waves together with Bitcoin. The stocks soared by a staggering 130 percent in 2017 but then took a rapid 30 percent nosedive the following year.
Walmart Stock (NYSE: WMT)
We are wrapping up our top 10 with another retail behemoth – Walmart. Just like other companies on the list, Walmart was among the early adopters of DLT, filing numerous related patents for improving deliveries and buying smart appliance management systems. Walmart made plenty of headlines after announcing its cooperation with IBM for increasing food safety in the wake of the E.coli and salmonella outbreak. Notably, IBM’s Food Trust product was also integrated by Carrefour, the biggest French supermarket chain.
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Just like 2018, the next year promises to be full of ups and downs for all cryptocurrencies. That means there's still an opportunity to get rich — you just need to make the right bets. Due to recent Bitcoin fluctuations, traders' stakes turn the tables in favor of the altcoins with a strong technical backup. What are the best cryptocurrencies to invest in 2019? Here are the most promising blockchains and companies behind them.
Bitcoin and Ethereum Investments: Does It Make Sense?
The chances that Bitcoin will make its previous 1,000% rise are minor: the cryptocurrency community admits there are more technologically advanced alternatives. New altcoins pop up every day, and their developers keep surprising audiences with innovative features and the technological supremacy of their solutions. Although the bearish tendency of the market seems to subside a little, no one can guarantee that the Bitcoin price can break its previous records and hit $20,000 again.
What about Ethereum? It is still potent and promising, but there are many competitors coming up with more agile and sophisticated blockchains. Some companies are already shifting from Ethereum to Neo and platforms alike.
1. EOS: Ethereum's Number One Rival
Of all Ethereum's competitors, EOS seems to be the most technologically advanced platform. Why? First and foremost, it removes the main barrier for developers — the Solidity language (it's the only means of programming in Ethereum). Instead of it, EOS users have access to databases and instruments along with other numerous services, which means no knowledge of programming languages is required at all.
To top it off, EOS is more flexible than many other similar platforms: no gas fees are charged because 21 gatekeepers process the transactions. The coin isn't mined; it's produced by certain users elected by the community.
EOS has all the chances to become an advanced, popular blockchain platform, so don't miss your opportunity to buy it for $1.68.
2. Ripple: 2nd Coin After BTC
Slowly but steadily, Ripple has made its way to the second largest cryptocurrency by market cap after Bitcoin. However, it works with completely different principles. Ripple was created for large financial institutions rather than individual users: this cryptocurrency serves to facilitate cross-border payments, making them strikingly fast and cheap (a transaction costs a fraction of cent). Ripple Labs received huge support from corporate investors (such as Google), and now this cryptocurrency is being introduced by Asian banks and financial institutions around the world. We have already discussed that Ripple is unlikely to reach $100, but it is expected to reach the $1 threshold in the nearest future — its price is $0.29.
3. Stellar Lumens: Makes the Perks of Ripple Available to a Wide Audience
Unlike Ripple, Stellar is designed to facilitate cross-border payments for individual users. While such payment processing giants as PayPal charge 5% fees for transactions, Stellar has only a $0.01 fee for 600,000 transactions! The processing speed is 5 seconds per transaction, which is quite agreeable. Moreover, the platform solves the issue of energy consumption that plagues Bitcoin and a few other blockchains. The proprietary Stellar Consensus Protocol is used to process operations instead of Proof of Work. The Stellar team has already partnered up with a few tech top dogs, such as IBM, so it enjoys enormous support from corporate investors.
Why consider TRX? TRON recently acquired BitTorrent, which allows for developing safe decentralized torrenting methods in the future. For example, such innovations can help us to distribute files across a network and re-assemble them for user downloading.
Another one of TRON’s advantage is that it’s one of a few ERC20 tokens that have made it to MainNet. Although TRON’s growth isn’t as rapid as Ethereum’s, it has 300,000 accounts so far. At the moment, 1 TRX is worth $0.013, so it’s a good investment for traders with a shoestring budget.
One of Bitcoin’s main alternatives, Litecoin has made it to the Top-10 cryptocurrencies by market cap: it has reached a $1.45 bln capitalization and now is the 9th coin on the list. LTC has the average block mining time of 2.5 minutes against Bitcoin’s 10 minutes. Besides, it’s one of the big four on Coinbase.
While Bitcoin requires 95% of miners to signal that they support SegWit for activation, Litecoin requires only 75%. The lowering of the consensus threshold makes it easier for Litecoin to attract active investors. At the moment, Litecoin costs $26.15 — it’s been through ups and downs, but the cryptocurrency community believes in its potential.
IOTA cryptocurrency was designed for the Internet of Things. It has four key advantages over other coins:
It’s fully decentralized.
Users aren’t charged fees.
The technological secret underlying IOTA’s success is the Tangle. While Bitcoin uses a blockchain environment to maintain the ledger, IOTA’s Tangle is a directed acyclic graph (DAG). Such a system solves the problems of scalability and transaction fees. The sender performs some kind of proof of work and approves two transactions. Thus, the higher the number of users is, the faster transaction speed they can enjoy. To top it off, IOTA has a lot of applications.
Considering the fact that the number of Internet-driven devices is expected to reach 30 bln gadgets by 2020, and the market cap will be around $7.1 trillion, IOTA has a lot of potential, even though there’s a serious competitor – the IOTW startup.
Basic Attention Token (BAT) was founded by tech specialists from all over the world. This token is designed for content creators, publishers, their audience, and advertisers. For example, users can donate to content creators in BAT currency, or get BAT rewards for watching advertisements. BAT is supposed to be used in the Brave browser, which repels malware and protects users’ privacy while surfing the web. With this browser, users will enjoy the content they like without annoying ads and ISPs selling their personal information.
At the moment, BAT is worth $0.14. The cryptocurrency is expected to start growing in a year or so.
Even those who don’t use the darknet for making purchases will definitely like the idea behind Zcash: this blockchain is created for people who want their transactions to remain private. That adds the value to the coin from an investment standpoint, and it will only grow as the darknet continues evolving. Recently, the Zcash team has introduced technical improvements that will reduce the memory consumption of transaction privacy by 98%.
Add to that such facts as:
Coinbase recently called Zcash one of the coins with great potential.
Users’ transaction data can be revealed selectively.
Due to some similarities with Bitcoin, Zcash can become a store of value down the road.
At the moment, Zcash costs $59.5 and is the 19th cryptocurrency in the global rating.
A great alternative to Zcash, Monero is also used in the darknet market (for this reason, Coinbase isn’t likely to add it soon). The Monero blockchain boasts thought-through transaction schemes that involve ring signatures and stealth addresses that keep transactions private. Like Bitcoin, Monero also has the proof of work verification standard: it means there’s always value behind XMR. Aside from that, Monero has strong community support because it’s based on the principles of decentralization and privacy — those are the key values for investors and traders.
Monero’s key advantages are as follows:
It has a superior mining algorithm. It’s designed so that ASICs wouldn’t have much technological superiority over usual computers owned by average users. It means that mining Monero would be simple for any user. Due to the absence of an entry barrier, Monero attracts more participants to fuel its development.
Adaptive block size limit. Monero blocks are produced every 2 minutes, and the adaptive block size limit means that users will be automatically able to handle the future increase of transactions by expanding the block size automatically.
I2P protects users from passive network monitoring, so nobody can say whether you use Monero at all.
The 12th cryptocurrency by market cap, Monero (XMR) costs $46.6. There are over 180 contributors supporting this blockchain, so it has all the chances to grow in value.
The blockchain behind Skycoin was designed to replace Bitcoin and Ethereum altogether. It has a well-developed infrastructure that serves the following purpose:
Skycoin will replace Bitcoin.
Fiber – a scalable and highly customizable parallel peer-chain platform – will replace Ethereum.
Skywire – the new decentralized Internet, a wireless mesh network where users are rewarded for exploiting it. It is meant to replace MPLS, IPv4/IPv6, OpenFlow, Tor, I2P.
Skyminer – the hardware that drives a decentralized Internet. Participants are paid for providing bandwidth, storage, and CPU power.
CXO – P2P cloud storage service that serves the distributed network of Skywire. It will replace IPFS, FileCoin, BitTorrent, Mega, Dropbox, and Google Drive.
Aside from it, the Sky-Messenger will be an analog of Telegram, Skype, Wechat, and WhatsApp, while BBS is meant to replace Twitter, Facebook, and Steemit.
All in all, the Skycoin project can become a great alternative to the traditional Internet. At the moment, Skycoin costs $0.92, and it might become one of your wisest investments in 2019.
The Strategy of Choosing a Cryptocurrency to Invest in
How to choose reliable and promising coins for investment? Here are a few recommendations for making smart investments:
Opt for ICOs. This is one of the easiest ways to multiply your riches. For example, had you invested in Neo’s crowdsale, your return would currently be 160,000%, or 5,000% for Populous, or 4,000% for OmiseGo — well, you see that ROI may be astronomic. However, the majority of ICOs fail, so you should research thoroughly.
Check out less popular exchanges. If you missed your chance to invest in an ICO, you can invest once the coin hits the market. During this time, there’s usually a short spike followed by a dump once investors seek short-term gains. This is a great opportunity to buy coins you’re interested in for a low price. Cryptopia and IDEX are perfect places to search for such types of coins.
Track and time important events. This is a short-term strategy and should mostly be used by experienced traders. It’s not a secret that the price of a cryptocurrency rises after some partnership announcements or tech introductions. You can buy cryptocurrency cheaper and sell it for a higher price.
Be in the know. There are thousands of cryptocurrencies that have already hit the market and thousands coming soon. You never know which gems you can stumble upon. Keep tabs on cryptocurrency news, research new projects, follow cryptocurrency Twitter accounts – knowledge is power.
There’s still a myriad of opportunities to invest in cryptocurrencies that can potentially make you 10-100x returns. However, as you know, cryptocurrencies are very volatile. So before making a move, do your homework: research the cryptocurrency, blockchain, and development team behind it. If you really believe in the fundamentals of the token, the timeframe doesn’t matter. Once you buy the cryptocurrency, get all your patience and wait for when it gets listed on a major exchange.
If you do not have any experience in trading, seeing a candlestick chart with a bunch of trading tools can be intimidating. On the flip side, one cannot help but envy those who make fortunes because of the high volatility of cryptocurrencies.
Those who want to jump on the crypto bandwagon as soon as possible do not want to take the time to learn how to successfully trade cryptocurrencies. They look for easy ways that would let them get involved in crypto trading in a snap (from automated trading bots to Bitcoin yield investment programs).
In this review, we will cover BTC Profit — a website that specifically caters to the desire to profit big off of cryptocurrencies in practically no time. Whether one makes quick millions with little to no efforts has something to do with the reality of cryptocurrency investment.
Understanding Bitcoin high yield investment programs (HYIP)
Before we get down to the actual review, let’s quickly grasp the concept of a Bitcoin high yield investment program (HYIP) that allows conducting trading on your behalf.
The rule of thumb is that any platform that offers high returns in a snap can be considered a scam. Do Bitcoin HYIP websites belong to the same crowd? Well, kind of.
Each Bitcoin HYIP site has its one lifespan which consists of several stages:
Stage I (the start)
The new website gets launched, and it further cooperates in order to lure in investors. At this stage, the administration behind this website has to shell out its own money in order to get the whole thing going.
Stage II (the peak)
As more and more investors find an easy way to make quick dollars, the website continues booming. The amount of profit rises, but the creator of the website covers the daily payments to investors.
Stage III (the downfall)
The last stage of the site's lifespan involves investors leaving the website in droves while the administration wants to rake in the biggest profit possible by simply refusing to pay its users the daily reward.
The consensus is that you do have the ability to make quick dollars on such websites, but do not expect to get a steady long-term return on your investment.
The modus operandi of such websites is quite similar to cryptocurrency pump-and-dump-schemes. You are only able to make a profit if you are not late to the party. Otherwise, you will have to look for other ways of how to successfully trade cryptocurrency.
How to spot a Bitcoin HYIP website?
The Securities Exchange Commision (SEC) offers a clear guidance on factors that help recognize such schemes:
guaranteed gargantuan returns;
fake financial instruments;
little to no information about the owners of the website.
BTC Profit is yet another example of such a website. All you have to do is to put money into their platform for them to trade crypto on your behalf.
The website starts with a highly bullish prediction about people making millions by trading crypto, and the site assures that you can always join the exclusive club of Bitcoin millionaires despite the crypto rout.
The video on its website states that everyone has already made millions by investing in Bitcoin (which is an outright lie). The good thing is that they don’t even try to hide it, so any person with common sense will be able to grasp the idea that their promised investment returns are too good to be true.
The website cannot be trusted, and it's a typical get-rich-quick type of site. The company's software looks absolutely bogus, and it clearly won’t help you to learn how to trade cryptocurrencies. Their primary goal is to get your email address and spam you with letters.
The BTC scam hired gig actors with poor acting skills to make it seem like what was supposed to look like real investors. In the screenshot below, you can see one of the alleged investors who offers his service on Fiverr.
Not to mention the cheap Screenshots on their website. Like, did they even try to make them believable? These advertisements simply scream a scam.
An elusive creator
Despite the site claiming that it was created by prominent crypto investor John Mayers, there is no actual information about the real owner of this site (this is a typical “feature” of all Bitcoin HYIP websites, no matter how fraudulent they are).
Is this a scam after all?
As you can see, BTC profit is a salient example of a scam. We do not rule out that you can make some short-term profit on this website, but it looks very likely that it represents the bottom of the barrel of Bitcoin yield websites. Despite many fake reviews with too much flowery, it is absolutely clear that BTC profit is not a legitimate trading system, but you will still be able to make quick money.
Ironically, the website has a disclaimer pertaining to potential earnings, claiming that individual results can “vary”. On top of that, all information presented on the website is entirely fictitious.
Becoming a real trader
OK, you won’t likely have thousands of dollars falling right into your lap just because you stumbled upon BTC profit. Remember that nobody is going to make money for you (while there are numerous AI-powered trading tools, they are not accurate enough to ensure a trader’s success). Hence, you have to learn how to trade cryptocurrencies on Reddit or any other crypto-related source.
Before picking a specific coin, you have to analyze the white paper of this asset, and then choose the most appropriate exchange where you would like to trade it. If you are looking for the so-called “entry-level” exchanges, Coinbase would be the most suitable option for you since you can purchase cryptocurrencies directly with the help of a credit card or wire transfer. Robinhood would be a good option if you are curious to trade cryptocurrency without fees.
The last thing you have to do is choose the most appropriate form of your cryptocurrency wallet (whether it’s the hardware or software wallet one).
For those who already know the basics of cryptocurrency trading, take a look at these main recommendations that will help you become a successful trader:
Don’t buy the coin when it’s hot. Case in point: Ripple surging to $0.67 in September and then falling. When you see a steady surge, it will most likely be followed by a steady decline.
Don’t listen to the advice of other investment-gurus. While it seems rather obvious, beginner-level investors might be tempted to buy into the lies of YouTube talking heads that are simply paid to promote projects. Avoid FUD by all means by properly researching the coin of your choice.
Find the best trading strategy. Before dipping your toes in the obscure world of cryptocurrency trading, you have to determine your trading strategy — whether you join the ‘HODLer’ crowd, keeping your assets for dear life, or become a day trader who always has to keep his hands on the pulse of the market. After reading tutorials on how to day trade cryptocurrencies, you can also try margin trading (not beginner-friendly).
Always keep up with the latest crypto news. U.Today will definitely help you stay informed.
Our verdict — no pain, no gain
While reviewing this website, we've come to the conclusion that it is really worth investing money in if you are a risk taker who's looking to make a quick profit. However, remember that you are walking on thin ice, and earning money as a cryptocurrency trader requires more than simply creating an account with a scam-ish website that promises you quick profits.