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Although I read everywhere that total marketcap of cryptocurrencies has increased but honestly speaking, current situation does not look good. Prices of BTC and popular altcoins are stable and not increasing. New projects tokens are dying before launch on an exchange and many projects are delaying their product release and increasing ICO/IEO time due to less sale. Overall situation signifies that investors are not interested in investing in cryptocurrencies. Lets wait for some more time and hope for the best time of crypto.
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This is worth giving a though, death is inevitable, if your crypto wallet is secretly accessible to you only it may go useless after you. Your current crypto profile may be worth nothing but if it contains lot of crypto coins which may increase in future giving good return. It is very important to give access to some very close friend or family members of yours to access your wallet . I think the best way is to teach your spouse or any person you trust the most to access your wallet when you are not there.
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I think the IEO on top exchanges are more credible even when response of public is flat provided the project is good. With the passage of time public response may drastically increase then its start hitting the market with good product and good strategy. A trusted exchange is like ice on the cake in such cases whereas IEO on low rated exchange has low exchange my not be doing that good due to low credibility. These are my personal thoughts based on some real life experience.
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Trading fee actually matters when you are a day trader and looking for short profit. Out of 2% profit, fee of .25% means you are giving 12.5% as trading fee out of your total fee which seems quite high but if profit is big like 20%, 30% or more which is generally there in medium to long term trading then trading fee of .25% hardly matters. Scalping always needs low trading fee.
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Crypto market is very volatile and it move beyond the expectations. One cannot predict how much time a project token will take to appreciate investor's money. Take example of Bicoin, its trading in a range for past many months but when it started rising in late 2017 its value appreciated from $1K to $19K in 2-3 months only. I have seen such growth in Pundix as well. Currently most of the coins are stagnant and not moving much. I believe investor should give plenty of time like 2-3 years and sometime even more to any good project to look for good return.
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Just 40, do not feel aged my friend, you are still young. I am 41 but not old person. Now coming to BTC and altcoins.Its true that only few altcoins have real use, currently there is no altcoin competing BTC. BTC is still the king of crypto space but there are many new projects with new concept and their tokens are sure to exist in crypto market. It is also true and only few of those projects get successful. I think the best will survive and worst will be thrown out of the market.
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According to the world survey: https://www.loc.gov/law/help/cryptocurrency/world-survey.phpMany of the warnings issued by various countries also note the opportunities that cryptocurrencies create for illegal activities, such as money laundering and terrorism. Some of the countries surveyed go beyond simply warning the public and have expanded their laws on money laundering, counterterrorism, and organized crimes to include cryptocurrency markets, and require banks and other financial institutions that facilitate such markets to conduct all the due diligence requirements imposed under such laws. For instance, Australia, Canada, and the Isle of Man recently enacted laws to bring cryptocurrency transactions and institutions that facilitate them under the ambit of money laundering and counter-terrorist financing laws. This is one of the reasons why government will not take the risk on accepting cryptocurrency as global money. Although I am a good supporter of cryptocurrencies but I cannot deny the fact that it can be used in many illegal activities like money laundering and terrorism. Cryptocurrencies are decentralize in nature and it is very difficult to trace its transaction. With the evolution of many p2pb2b exchanges it is very easy to convert Bitcoin into local currency, be it within the country or from outside the country. I agree to this point as well that it may be the reason for govts to not legalize BTC. I hope this problem will be sorted out with some new update in blockchain technology. |
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Is this possible? Example you lend bitcoin to something similar to like a bank and they give you interest on it? Like how now they give you 2% interest?
I heard binance is doing something similar like that but it was like 10%?
Instead of depositing your BTC with some financial institution and earning interest, I would suggest you to lend your Bitcoin to trusted members out in this forum, you will get a higher rate of interest. I have seen man fellow members in this forum who are read to take BTC loan for some time and are willing to pay it with interest and that interest rate is definitely higher than any bank is offering at the moment, but before lending BTC C to any person on internet, it is important to fetch history of his financial record. |
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This is really a heart touching story when you mentioned that you had only $10 to take home after 15 days to feed your family including your new born son. I am happy that now you are atleast financial independent.
My story is like this but not exactly same, I was into deep debt but however my earning was compensating it to some extent. Finally in late 2017 and early 2018 I had good earning from bounty campaigns and I sold my tokens for Bitcoins. It made me financially independent. I would say its not only Bitcoin but cryptocurrency market that gave me financial strength.
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If Sam keeps on depositing money with them, he will only be responsible for his loss. Stop sending money to these scammers. These apps are self developed, self operated and self managed by those scammers, they can show you a big profit at any moment. Never trust such websites or apps which shows you a big profit or offers you high fixed return. Police can help SAM with lost funds if you identify the scammers and lodge a complaint against them.
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I think its better to collect all these pieces of Bitcoin at one place i.e. create Bitcoin wallet and store all your Bitcoins there, so that whenever there is increase in its price you can sell it easily. It also reduce the chances of risk of keeping your funds in an exchange wallet. If any exchange have minimum amount withdraw condition, its better to deposit some amount first and withdraw the whole amount thereafter. Current price of Bitcoin is good to buy some BTC, if price goes high then it will difficult to buy to fulfill minimum withdrawal amount condition of any exchange.
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Scammers really have destroyed cryptocurrency world. Due to decentralize in nature of cryptoc platform and new comers coming in, scammers are more active in crypto world as its easy for them to scam people here, its almost impossible to identify a scammer in decentralize platform. Due to these increased scams, investors have lost their faith in crypto projects and there is a low inflow of money. Due to less inflow most of the projects are not doing good and existing coins are losing price. Its very important to develop something in blockchain to keep these scammers away so that investor's faith can be regained.
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Its true that bounty campaigns are now either not paying or paying very late and that too have low price on exchange after listing. I am not so active in bounty campaigns as compared to 2017 but still participate in some selected projects. Currently the whole cryptocurrency market is down and prices of all coins are low, once market recovers value of good project coins will appreciate as well. I think its time to join some good projects and hold their coins till next bull run.
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There are three types of market analysis to predict the market.
1. Fundamental Analysis
2. Sentimental Analysis
3.Technical Analysis.
I am not going to elaborate each of these analysis here but the most commonly use to predict any financial market is Technical Analysis. It includes to study chart patterns, candles, trends and Pivots etc and this is the most simple and common way to take and exit the trades. Many of the traders earn money trading market with tech analysis.I think someone understanding it can't call it bullshit analysis.
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Truly speaking I do not trust coinmarketcap at all and do not check it to analyze any crypto exchange or other project. I have dealt with some exchanges which proudly says "top 100 CMP exchage" but in real they are nothing more than crap, I am not disclosing any of such exchange names here but all of these have low volume, tough withdrawal conditions and high withdrawal charges, then what is the fun of highlighting their ranking on CMP. p2pb2b may have fake trading volume of CMP.
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It is always risky to put your money in volatile currency like Bitcoin.It may increase your capital to many folds in a few months and the same time it can decrease your capital many folds. Think about the people who bought Bitcoin at $19K and even after 1.5 years they are at less than 50% of their capital.
I am not against investment in Bitcoin but people should always calculate the risk before investment. In my opinion investment in Bitcoin will be fruitful in coming years. If someone invests amount for 4-5 or more years, he/she may get good return.
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Emotions are something in trading which makes you to lose your capital drastically i.e. if there is a little loss, emotional trader tries to recover it by taking risk and ultimately lose his account. Emotions can only be controlled when you have proper trading plan.
1. Previous day market must read to chose next day trading pairs.
2. Entry points, exit points and SLs are to be drawn on pairs selected.
3. Must remain stick to the trading plan.
Above rules must be followed to keep the emotions out of trading.
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Basic trading fundas in both forex trading and crypto trading are same but crypto platform is very new whereas forex platform are older one with lots of options to adust trading platform as per your convenience. MT4 trading platform commonly used for forex trading has wider feature to add various indicators so the professional traders can predict the market easily and daily volume in forex market is very high as compared to any other financial market. Crypto market is much volatile as compared to forex market so one can make good profit even by not taking high leverage trades in crypto.
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Sending 5 BTC to any unknown address w/o verifying is not good. If someone has contacted you, you should atleast varify it first. It was a matter of 5 BTC. You could have sent the money if amount was less but 5 BTC was a big amount to send, I think you must have checked all his credential and should have done payment in parts like you could have sent 1 BTC first and then rest amount once your blog ad was placed on Bitcointalk.
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ICO and IEO are in worst period currently. Most of the ICO and IEO are not able to raise funds due to increased scams. Investors are not investing amount with the fear of losing money. Although scams are lesser in IEO but many IEOs are not doing good after completion and launching their token on an exchange. As projects are not performing well so bounty rewards are directly affected. I hope good times for crypto market will come sooner or later,investor will regain their confidence in crypto projects and there will be good inflow of money.
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