Monthly Archives: August 2022

1. Cryptocurrency Explained for You. In 2008, Satoshi Nakamoto wrote a | by Stephen Dalton | Aug, 2022  DataDrivenInvestor
2. Three cryptocurrency funds for the adventurous investor  MoneyWeek
3. What Is Cryptocurrency Anyway? - Video - IBD  Investor's Business Daily
4. Is cryptocurrency the future?  Cryptopolitan
5. 10 Proven Strategies To Make Money With Cryptocurrency In 2022  TechJuice
6. View Full Coverage on Google News

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Cryptocurrency Explained for You. In 2008, Satoshi Nakamoto wrote a | by Stephen Dalton | Aug, 2022 - DataDrivenInvestor

On 15 September, the ethereum blockchain is planning to switch off its mining rigs. If it happens, it should reduce the carbon emissions of the entire ethereum ecosystem by orders of magnitude overnight, leaving bitcoin as the only major cryptocurrency to be built on the destructive proof-of-work concept. But the switchover could also throw some of the largest institutions in the sector into chaos, and seems likely to evolve into a cold war between the new version of ethereum and the diehard followers of the old. And thats if it happens at all.

A brief refresher on cryptocurrencies. The two biggest in the world, ethereum and bitcoin, are based on an idea called proof of work. This and Im simplifying involves the networks outsourcing their security to a decentralised network of miners, who compete to burn ludicrous amounts of electrical energy to generate lottery tickets. Each time a winning lottery ticket is generated, the miner who did so gets a reward (for bitcoin, that is currently 6.25BTC about 110,000), and gets to verify all the transactions that have happened since the last winner, packaging them up into a neat block, and adding them on to the chain made up of all previous blocks. They stamp the block with their lottery number and the process begins again.

Nearly all of the above paragraph is false, so please do not write to me. It is true enough for what follows: this proof-of-work model is at the root of everything youve heard about the environmental impact of cryptocurrencies. And ethereum is planning to drop it.

The replacement is called proof of stake. Conceptually, it is more complex, but with the same broad brushstrokes we can describe it like this: rather than burning electricity to generate lottery tickets, you instead use your ethereum to buy premium bonds, and the system picks a winner in proportion to the amount of bonds theyve bought, who then gets to do all the validation stuff as normal. You can cash out of your premium bonds, but the process is slow, so you are motivated not to abuse your validation privileges.

A version of ethereum has been running on those principles for a while. Its had different names over the years, from testnet to Eth2, but on 15 September its going to become simply ethereum. This switchover, dubbed the merge because the old and the new networks will be merged together has a good shot at being the single largest technological event ever to happen in the crypto space. Which means it has a good shot at being messy as hell.

To start, theres the date. If youve noticed a soupon of scepticism, its because Ive been burned before. I wrote about the forthcoming merge being months away in May 2021:

The switch to proof of stake has been planned for several years, with a host of problems, both technical and organisational, delaying implementation. But now, according to Carl Beekhuizen, a research and development staffer at the Ethereum Foundation the change will be complete in the upcoming months.

It was not.

But this time, the switch is rather more final. For one thing, theres an actual hard date; for another, the preparation for the merge is now live in the code that runs the ethereum network. It could still be delayed, but the default case, if no further action is taken, is that the merge will happen as planned.

Whats at stake

That doesnt mean the merge will be smooth. The first stumbling block will be the forks: clones of the old version of ethereum, spun up to keep the proof of work system alive.

This wont be the first time this has happened. Theres untold bitcoin forks, with names like bitcoin cash, bitcoin satoshi vision, bitcoin classic and bitcoin gold, but none have ever toppled the originals dominance.

So why might the ethereum fork have more of a chance? Because it will almost certainly have the backing of a powerful constituency: ethereum miners. After years at the centre of ethereum infrastructure, the miners face their industry being simply switched off overnight, and many of them arent happy with that proposal. They have real, physical assets invested in the continuation of a proof-of-work cryptocurrency, from expensive graphics cards to electrical hookups, and its not easy to repurpose it for something else.

Due to the open-source nature of cryptocurrencies, its easy enough for the miners to simply pick up where they left off, and carry on running Nu-thereum, or whatever it gets called, on 16 September as though the merge had never happened. The question is, what happens next?

Everyone who has a balance of ETH will suddenly find that they have two balances, one on each blockchain. And everyone who has a smart contract running on ETH will suddenly find they have two of them, as well: there will be the proof-of-work version of the Bored Ape NFTs, and the proof-of-stake version, and so on.

Some of those duplicates may happily coexist. Others might try to talk down the forked version, but never quite kill it how much would someone who wants to own a killer NFT pay for an unofficial version on the forked chain? If its not zero, then the trade could continue for some time, even if the developers of the Apes disown the forks.

But for other projects, there can only be one. Each USDC token is backed by $1 of hard assets held by Circle, the company that develops the stablecoin. If there are suddenly twice as many USDCs because of the fork, Circle doesnt have twice as much cash, and it will have to choose one network to support and the other to reject.

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It seems unlikely that the big stablecoins, like USDC and Tether, will back the rebel chain. And that, in turn, means the entire rebel ecosystem will come into existence in a slow-motion collapse, as forked projects fail one by one. But it will still provide a base for new creation, and one that is ultimately more similar to the ethereum developers know and love than the environmentally friendly version it is about to morph into.

Whats next

The upstart miners arent solely acting out of self-interest. There is a point of principle at stake, as well, which is the decentralisation that underpins the crypto economy. That decentralisation is, at heart, the only real reason for cryptocurrencies to exist: a centralised conventional database is faster, cheaper and safer to run, but requires you to trust whoever is running it.

A decentralised cryptocurrency cant be interfered with by big business, or big government, which makes them great for well, crime and evasion of government regulations, in the main, but also loftier concepts like permissionless innovation and uncensorable speech.

Some of the backers of the proof-of-work (PoW) concept including the bitcoin maximalists who look down even on upstarts like ethereum worry that proof of stake (PoS) ultimately results in Dino: decentralisation in name only. The nature of the system involves handing control of the network to those with the most money held within the network. Worse, it hands extra power to those who look after other peoples money: centralised exchanges like Coinbase or Binance, and centralised notbanks like Celsius or Voyager, if theyd survived that long. Those exchanges can offer staking services where they do the hard technical bit of making proof of stake work (buying the premium bonds, in the terms of my fantastic analogy), and their customers get the rewards.

The rise of the Dinos is more than just a theoretical concern. In a post-Tornado Cash world still dealing with the fallout of North Koreas favourite decentralised app being accused of money laundering and sanctioned by the US Office of Foreign Assets Control (OFAC) it isnt at all clear whether it is legal under US law for a validator, the PoS replacement for miners, to approve a block that contains a transaction to or from a sanctioned address.

Ethereums developers are trying to force the matter, proposing a credible commitment to punish censors. What that means is not yet clear, but the hope is that it doesnt have to be that the credible commitment means that organisations who have to comply with OFAC simply do not stake ethereum in the first place.

It is not entirely clear what an ethereum with no validators who are trying to remain in compliance with US sanctions would look like. But that is the world were heading to.

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TechScape: How a major change to ethereum could change cryptocurrency forever - The Guardian

Companies with significant ESG commitments to shareholders will not be able to hold investments in cryptocurrencies or NFTs and still meet theirsustainability goals; public companies with these technologies in their portfolios will be responsible for the emissions created by their investments.

Blockchain has become the go-to technology solution for enabling traceabilitythroughout circuitous product supply chains most notably infoodandtextiles.But in the finance world, blockchain has become inextricably linked to the risein popularity of cryptocurrency and non-fungibletokens (NFTs).

While blockchain has proven its value as an emerging solution for certainapplications, there is more to consider about the techs implications specifically, as we think about the role future iterations of blockchain have oncarbon-reduction goals for a rapidly changing climate.

Thats not to say that these technologies will never be carbon neutral; but intheir current iterations, market leaders such as Bitcoin and Ethereumare not sustainable. New currencies and NFT development processes claim to begreener because they dont rely on the same Proof ofWork system that involveshuge amounts of calculations (and thus, processing power) to produce a singletoken. Cryptocurrencies that instead use a Proof of Storage or Proof ofStakesystem use far less energy, as do currencies using a technology called blocklattice which doesnt requiremining.Similar processes are being applied to the NFT market in an attempt to reachcarbon neutrality. At this point, however, it's hard to tell if thesetechnologies, were they to scale, would be any better or even worse for theenvironment.

Therefore, everyone from the everyday individual to the global corporation should welcome the continued evolution of these types of energy-consumingtechnologiesand how theyre created; since, as of now, most cryptocurrencies and NFTs areproduced by methods that are completely at odds with efforts to mitigate climatechange, which affects every living thing on the planet.

These technologies require massive computing power to generate, resulting in anoutsized and irresponsible carbon footprint. In fact, the process is purposelydesigned to be highly energy inefficient, to make it harder to tamper with afiles legitimacy. Bitcoin alone uses as much electricity as an entirecountry.The same goes for NFTs, the security and value of which hinge onenergy-intensive processes a single transaction can use as much electricity asthe average household uses overdecades.

Every cryptocoin mined uses more energy than all those mined before and about21 million Bitcoins have been mined so far. After its mined, cryptocurrencycontinues to generate a vast network of computer connections with everytransaction. Bitcoin and Ethereum activity combinedconsume as muchelectrical energy as an entire nation nearly 290 TWh per year.

2023 could be the tipping point for these technologies as new federal rulesaround carbon accounting are slated to take effect next year. An SECproposalseeks to improve transparency among funds that purport to take Environmental,Social and Governance (ESG) factors into consideration when making investingdecisions. This new reporting regulation will require any publicly tradedcompany to disclose their full carbon footprint and enforce carbon-offset fineson those that greenwash theirprogress.

Companies that have significant ESG commitments to shareholders will not be ableto hold investments in cryptocurrencies or NFTs and still meet theirsustainability goals. Corporations that continue to embrace NFTs andcryptocurrency will face expensive carbon-offset costs and negative brandperception. And once every publicly traded/reputable company pulls out of cryptoand unloads their NFTs to meet their ESG goals, there will be nothing left toprop up these markets.

Sustainability experts might see this on the horizon; but ideally, individualsand corporations will also have the foresight to not continue throwingadditional money into these notoriously energy-intensive technologies until theycan truly be sustainable. Cryptocurrency and NFTs use mind-boggling amounts ofcomputer energy and create substantial greenhouse gas emissions, outweighing anycurrent perceived value. Public companies with these technologies in theirportfolios will be responsible for emissions created by their investments. Thenew federal reporting regulations might mark a fork in the road for thesedigital currency trends.

Published Aug 24, 2022 2pm EDT / 11am PDT / 7pm BST / 8pm CEST

Andrew Blauvelt is Senior Product Director at Atrius part of the Intelligent Spaces Group, a division of Acuity Brands revolutionizing spaces to sense, think and act.

Jol Dsir is Connected Building Solution Manager at Distech Controls, which connects people and companies with intelligent building solutions.

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The Hidden Cost of Cryptocurrency and NFTs - Sustainable Brands

Russias cryptocurrency adoption has not beein going at a fast pace due to maximum amount of Russians never buying cryptocurrency, on the basis of a survey, according to Cointelegraph. Switzerland-based cryptocurrency wallet provider Tangem conducted a survey to make analysis on Russian cryptocurrency investors, as said by local news agency Kommersant.

As stated by Cointelegraph, around 72% of 2,100 respondents, based on the survey, claimed about never buying cryptocurrencies such as Bitcoin (BTC), which has left Russian cryptocurrency miners in a minority. Around nine percent of survey participants denoted that they carried a negative outlook towards cryptocurrencies, 45% of the respondents said about carrying a positive outlook towards digital currencies and 46% remained neutral. The survey stated that 44% of respondents choose to invest in cryptocurrencies because of its ability to make earnings. On the other hand, 68% of respondents gave the reason for not investing in cryptocurrencies due to its absence of physical backing.

On the basis of information by Cointelegraph, despite maximum amount of Russians being introduced to cryptocurrency investments, many are considering it as a potential investment. While 31% of respondents indicated about buying cryptocurrency in the upcoming six months, 40% claimed about remaining uncertain regarding the investment scenario. Around 30% of respondents didnt give any indication about buying cryptocurrencies. Tangems data mentioned that close to six percent of respondents were found to have good knowledge about cryptocurrencies, and 80% were only familiar with the term.

Moreover, Cointelegraph noted that estimations by Sergey Mendeleev, CEO, InDeFi stated that number of active and passive cryptocurrency Russian users currently stand at less than one precent out of the total 144.4 million population. Certain experts believe that Russians have been switching to cryptocurrency due to foreign currency restrictions by Bank of Russia. Earlier this year, Kremlin reported that Russians owned close to $200 billion worth of cryptocurrency by late 2021.

(With insights from Cointelegraph)

Also Read: Google grows the ambit of Internet security; includes everyone from children to the LGBTQIA+ community

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31 percent of Russians are expected to make cryptocurrency purchase in the next six months: Survey - The Financial Express

The cryptocurrency sector is expanding, and knowledge of its benefits has begun to draw an audience as more individuals acquire an interest. As an innovation, one of the essential components in becoming involved is credible information, which may be obtained from thought leaders and influential individuals in the space. Knowing and following an individual will give you access to trustworthy information, current knowledge, and trends. One of the benefits of getting involved in the crypto space is registering for the Ownrwallet affiliate program. OWNR Wallet is a rapidly expanding international FinTech company developing a crypto ecosystem that will allow consumers to accomplish everything with cryptocurrency in one place.

The influential people in the cryptocurrency space are researchers, developers, investors, and believers in what this innovation has to offer. The list below describes the five most influential individuals in the cryptocurrency world.

Image Source: CNBC

In the cryptocurrency industry, Vitalik Buterin is a well-known name. He co-founded Ethereum, one of the worlds largest cryptocurrency ecosystems. Vitalik Buterin is a developer and researcher. Buterin is best known for his work with Ethereum, but he has also been active in the Bitcoin community as a writer, co-founding Bitcoin Magazine. As one of the worlds youngest crypto billionaires, he created the Ethereum network, which has grown to become the most extensive and secure framework for building decentralized applications in the cryptocurrency industry.

In a world where blockchains and cryptocurrencies appear ready to disrupt a variety of industries, including healthcare, financial services, and supply chain management, Vitalik Buterin, one of the most passionate supporters of cryptocurrencies, thinks that Ethereum will play a significant part in the unfolding digital revolution known as Web 3.0.

Image Source: TechCrunch

Changpeng Zhao, popularly known as CZ, is the CEO of Binance. Binance is the worlds largest cryptocurrency exchange by volume. He has played an essential role in many sectors of the cryptocurrency industry, from investing in emerging projects to providing consumers with a dependable platform for trading over 700 crypto pairings. CZ has specialized in trading since the beginning of his career, initially working within the IT department of the New York Stock Exchange and then moving on to Bloomberg to establish a service for traders.

CZ then went on to found Binance and has served as the companys spokesperson since then. After Binance started operations and gained popularity, CZ made his first billion dollars in less than six months and now ranks among the wealthiest figures in the cryptocurrency industry, with an estimated net worth of $1.2 billion.

Image source: BusinessInsider

Sam Bankman-Fried is the founder of the FTX cryptocurrency exchange and the Alameda Research trading firm. After graduating from MIT and working as a trader at Jane Street Capital, he founded Alameda Research, a venture capital and liquidity provider. Sam Bankman-Fried is the worlds richest 29-year-old, according to Forbes, with a net worth of $22.5 billion, and is also an entrepreneur and investor. Sam Bankman-Fried has made significant contributions to the crypto-verse and is a leading figure promoting crypto adoption in the sports sector of the United States.

He founded the FTX cryptocurrency and derivatives exchange, which has swiftly developed to become the sixth-largest trading platform by volume. FTX signed a long-term relationship with Miami Heat. This partnership with the American professional basketball team resulted in the club renaming its stadium to FTX Arena and exhibiting various cryptocurrency-related advertising on the pitch screens at the same time games were being played. He has also made other sports-related investments.

Image source: The Pavlovic Today

Anatoly Yakovenko is the Solana networks co-founder, the second largest blockchain network in terms of the financial market valuation after Ethereum. He is also the author of the Solana white paper and a Russian computer engineer. Anatoly created the Solana blockchain network as a framework for developing decentralized applications comparable to regular apps like Twitter and others that operate without intermediaries. Solanas widespread popularity has resulted in a growth in its native token SOL, and the total value locked (TVL) on Solana is now $11.41 billion. In addition to holding two patents for high-speed operating system protocols, Anatoly Yakovenko oversaw the development of operating systems at Qualcomm, distributed systems at Mesosphere, and compression at Dropbox. He is a cryptocurrency pioneer who believes that decentralization is the key to the success of all projects on the Solana network.

Image source: Bloomberg

Michael Saylor is the founder and CEO of the worlds largest publicly listed business intelligence company, MicroStrategy. The firm has invested $425 million in Bitcoin as a less risky investment option than gold and bonds. Since the company began buying Bitcoin in August 2020, it has had tremendous success. Michael Saylor is a significant figure in the crypto ecosystem. He is a passionate supporter of Bitcoin technology, appearing on media apps and at cryptocurrency conferences to promote its merits and use cases. In addition to being active on Twitter, Michael also publicly discloses the number of Bitcoins he is worth and that his firm holds.

Knowing influential figures in the crypto space is essential, and they are a tremendous source of knowledge. You can keep up with what is happening in the cryptocurrency market by following them, which will help you make better decisions. As the crypto industry provides many advantages and opportunities for early birds, getting engaged now will give you a competitive edge.

CryptoMode produces high quality content for cryptocurrency companies. We have provided brand exposure for dozens of companies to date, and you can be one of them. All of our clients appreciate our value/pricing ratio.Contact us if you have any questions: [emailprotected] None of the information on this website is investment or financial advice. CryptoMode is not responsible for any financial losses sustained by acting on information provided on this website by its authors or clients. No reviews should be taken at face value, always conduct your research before making financial commitments.

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Five Most Influential People in the Cryptocurrency World - Crypto Mode

The Indian governments long-standing fight against cryptocurrencies has shown that the government is not ready to face the idea of banning the use of cryptocurrencies as it was announced in 2019.

A large number of users of cryptocurrencies as well as their activity in the market means that India is one of the leading countries in the world where cryptocurrencies are used in the market, which influenced the change of opinion of the authorities regarding the ban on cryptocurrencies.

Indias lower house of parliament has announced earlier, plans for a bill that will ban all private cryptocurrencies from operating in the country. This would also be applied upon the popular cryptocurrencies, such as Bitcoin, Ethereum, Tether,USD coin

Instead, the parliament now wants to propose the preparation of a framework that will enable the creation of official digital money, under the auspices of the Bank of India. As some reports say Indias Central Bank will introduce a digital rupee based on blockchain technology by the end of March 2023. In India, only the Reserve Banks Digital Rupee would be considered legal money.How customer interest changed policy?

The digital rupee will be the digital version of physical cash issued by the RBI and will, therefore, be sovereign backed. On the other hand, cryptocurrencies are not backed by a government / central bank and can be an asset class or a payment mechanism.

India rejected cryptocurrencies as legal tender back in 2018 and recommended a ban on existing digital money with prison sentences of up to 10 years for violators. The central bank then claimed that the currency was not real. The Supreme Court reversed that decision in 2020 and allowed cryptocurrency trading.

Cryptocurrency emerged in India for the first time around 2009 in the form of Bitcoin. The first commercial transaction occurred in 2010, followed by the first cryptocurrency exchange in 2013. It has garnered a significant following and interest in India over the past few years.

Losses and unclear policies prompted crypto exchange founders to leave India. Currently, the largest cryptocurrency exchange is WazirX, reports say that co-founders of WazirX have moved to Dubai with their families, unofficially, due to the unclear policy of cryptocurrencies.

Now, approximately 1520 million investors are holding more than $5.3 billion in crypto in India, according to a Reuters report, citing industry estimates, representing the second-largest number of crypto traders worldwide.

The Reserve Bank of India, which has expressed serious concerns about private cryptocurrencies, was supposed to launch its CBDC by December 2021.

Official figures are not available, but industry estimates indicate that there are 15-20 million crypto investors in India, with total crypto investors of around 4.77 billion.

Advantages of Digital Rupee in India:

Disadvantages of Digital Rupee:

During the session of the Indian Parliament in 2021 Rajya Sabha, Finance Minister Nirmala Sitharaman stated that the government has not taken any concrete step to ban the use of cryptocurrencies in India, but will spread awareness about cryptocurrencies through the RBI and Sebi (Securities Board of India ).

In the Union Budget 2022-23, the government has categorically mentioned that the transfer of any virtual currency/cryptocurrency will be subject to a 30 per cent tax. Many investors welcomed this announcement because, according to them, the declaration itself was the first step in recognizing cryptocurrencies as legitimate assets.

This is after Supreme Court removed the ban on cryptocurrencies that was introduced in 2019.

Blockchain is full of potential not only in the field of payments but also in many other areas. Our intention is not in any way to harm the ecosystem or even say that we dont need it, said Sitharaman.

Sitharaman expressed concern that cryptocurrencies can be used for negative purposes and that terrorism can be funded through them.

She noted that, despite their potential to contribute positively to the economy, cryptocurrencies can also be used for not very desirable purposes whether its money laundering or terrorist financing.

So, these are some of the issues that concern not only India, but also many countries around the world, and are being discussed on global multilateral platforms, said the Indian finance minister.

She then explained that the state needs to understand how cryptocurrency trading works and that the state was not ready at that moment.

Sitharaman explained that India needs to understand how cryptocurrencies should be promoted or how the government should deal with them and how the country needs time for all this.

India has introduced new provisions for taxation of the crypto sector, a steep 30% capital gains tax and a 1% withholding tax on almost all cryptocurrency transactions. High taxes and difficulties in calculating taxes and applying them pushed regular traders out of the crypto market.

As a result, Indias leading crypto exchanges saw a 92-98% drop in trading volume in the first 10 days of the new taxes compared to the same period last year, reports say.

Regular instant electronic retail payments through UPI are no longer available for this exchange. This has led to leading crypto exchanges such as CoinSvtich Kuber, WazirX and Coinbase to stop accepting deposits.

Currently, Cryptocurrencies are unregulated in India. Users of crypto currencies believe that the 30% fee is too high and that it is against the principles of law and natural justice. If a single gain is taxed, set-off of a loss from the same type of transaction should be allowed. Instead of banning cryptocurrencies, in which trading is like gambling, we got. is interested in tax collection. Many of the younger generations are losing hard.

The idea of a digital Rupee has prompted other countries like Russia and China to consider opening up their own digital currency.

The BRICS digital payments superstructure is taking shape with Russias central bank announcing plans to launch a digital Rouble in 2024. Chinas eRMB is already in extensive trials and India expects to launch the digital Rupee within the next 18 months.

Many cryptocurrency investors believe that introduction of currencies such as the digital rupee will give a big boost to the digital economy, they say that the Introduction of Central Bank Digital Currency (CBDC) they say that the establishment of this currency will lead to greater interest in the use of digital money in India.

Digital currency will also lead to a more efficient and cheaper currency management system. It is, therefore, proposed to introduce Digital Rupee in India, using blockchain.

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India is introducing its own cryptocurrency, the digital rupee, by 2023 - techPresident

The ability to gain access to new digital assets at the push of a button is delivering unprecedented value to people all over the world. The adoption of digital assets by financial institutions and corporations alike is making them easy to trade with anywhere, anytime, secured by a single login. Trading cryptocurrencies on mobile devices has never been easier! In this article, well show you 5 ways to make cryptocurrency trades on an Android app more convenient:

If youre trading cryptocurrencies on a daily or weekly basis, youre likely hosting a 24/7 trading desk. You must be constantly monitoring market conditions and adjusting your open and close orders to avoid losing money. There is no way around it: managing your open, close, and market watch orders on a mobile device can be a lot of work.

Fortunately, there is an easy-to-use app for this: Bitcode Prime. Bitcode Prime is a real-time trading and monitoring platform that lets you see detailed information about your current and past trades, as well as monitor your financial state in real-time.

One of the benefits of trading cryptocurrencies on mobile devices is the ability to save and easily access your trade log. This is great for when you want to quickly review past trades and see what your strategy was for certain coins.

You can access your log through the Trades section of your account or the More section of the app. You can also check your trades in real-time with the Pushing Trade feature. This allows you to see every aspect of your trade without logging in.

If youre like many people, you have a large portfolio of digital assets that youve been collecting for a while. However, you may not know exactly where to start distributing them. To make matters worse, you may not even know which exchanges to use!

Thats where a cryptocurrency wallet card like the Coinbase Pro app can help. The Coinbase Pro app is a great way to track and manage your investment portfolio, including displaying relevant stock quotes, tracking your portfolios value, and displaying an easy-to-read calendar.

When you sign up for trading services, they will often provide you with a wallet to store your coins. This is a convenient way to hold and manage your assets, and its often free. However, if you are serious about trading cryptocurrencies, you will want your investment to be stored securely. A good way to do this is to use a hardware wallet.

A hardware wallet is a device that functions as a wallet, but it is much more secure and private. This is because it is connected to your computer and the internet. Furthermore, you can use a hardware wallet to store any cryptocurrency that you choose. For example, you can use it to store Ethereum, Bitcoin, and many other digital assets.

Another handy feature of trading on an app is the ability to access your account from anywhere. From work or the schools computer, you can instantly log in to see the latest price action, check your account, and see the latest news on the coins youre interested in.

When you sign up for trading services, you will often be given the option to create an account on the website. This is a convenient way to manage and track your investment portfolio, as well as check your account balance. You can log into your trading account on the website, as well as access historical data, track your portfolios value and make payments.

The future of trading cryptocurrencies is looking pretty bright. With so many people now able to gain easy access to this new market, and with so many opportunities to do so, its easy to see why this is such a great industry to be a part of. So, how do you get started trading cryptocurrencies? The first step is to download an app. Once you have one, you can easily create an account and start trading. With so many exchange platforms to choose from, and with new exchanges coming out almost every day, its easy to find the right one for you. So, if youve been hesitant to try trading cryptocurrencies, or if youve only wanted to, but didnt know where to start, we hope this guide helps!

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How to Make Trading Cryptocurrency On Android More Convenient And Hassle-Free - Android Headlines

Over the past 24 hours, Shiba Inu's SHIB/USD price has risen 8.05% to $0.000014. This is contrary to its negative trend over the past week where it has experienced a 3.0% loss, moving from $0.000015 to its current price.

The chart below compares the price movement and volatility for Shiba Inu over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.

The trading volume for the coin has decreased 6.0% over the past week, while the overall circulating supply of the coin has increased 0.31% to over 589.38 trillion. The current market cap ranking for SHIB is #12 at $8.41 billion.

Powered by CoinGecko API

This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Cryptocurrency Shiba Inu's Price Increased More Than 8% Within 24 hours - Benzinga

TLDR:

Its no secret that getting insurance for cryptocurrency is difficult and expensive. Fortunately, new technology is here to help solve this problem. And not just solve it, but to make insurance a footnote in what anyone wanting to de-risk cryptocurrency should be looking for.

More on that later.

First, lets look at this from the perspective of insurers and see why its so difficult to insure cryptocurrency.

Insurers dont like to vary the value of policies as prices fluctuate because it makes it hard to determine what level of risk theyre taking on. This also makes it difficult for regulators to be certain that the insurers are liquid enough to pay out.

The regulation applicable to even centralised platforms can be hard to pin down, as so much infrastructure exists in the cloud and teams are spread all over the world. Thats hard to assess from a risk perspective.

Whats more, theres little uniformity between different cryptocurrencies so its very difficult to address the market as a whole. Add to that the inevitable education gap and the negative narrative with cryptocurrency as the medium of choice for facilitating ransomware payments then its clear that the insurance and cryptocurrency industries have a lot to do to bridge the gap between them.

And Im all in favour of that but your assets are at risk NOW.

So, what can you do?

The answer is obvious, at least in theory do whatever we can to reduce the risk so that insurance becomes cheap and easy to obtain (or even obsolete).

In practice, all the problems with cryptocurrency insurance stem from it being an innovative technology, so it makes sense to look to technology to solve whatever we can control.

And theres a lot

The two main sources of cryptocurrency loss boil down to hacking and human error.

We want everyone to know that there are things you can do to protect yourself and your customers from both of these things, today. If youd like to read the full version, just download The Definitive Guide to Crypto Protection instead.

Hacks are getting more and more sophisticated, from Binances $40 million stolen thanks in part to transactions cleverly structured to pass internal security measures in 2019, to the $650 million lost to phished private keys experienced by Ronin Network in 2022.

Our cryptocurrency theft protection technology provides a real-time, inflow response on transactions before they are broadcast to the blockchain and could have stopped both of the hacks listed above (and many more).

Whats more, we have insured our technology at Lloyds of London, so if someone steals funds using an attack its designed to prevent we will compensate customers for any losses that our technology has failed to prevent as set out in our agreement.

Its often positioned as the networks fault, but human error leading to loss is well-publicised. Its estimated that 20% of all BTC is lost forever and, in the case of James Howells (whos local to us, incidentally) there are even extravagant, venture-backed plans to try and retrieve some of it.

Disaster recovery technology securely backs-up private keys without ever exposing them to a third party (including us), so you still have options even if you lose a key. This would have kept the multiple billions of BTC that have been lost safe and retrievable.

If youd like to find out more, just download The Definitive Guide to Crypto Protection today!

Benjamin J ChurchHead of Digital, Coincover

Ben first got involved in cryptocurrency in mid-2017 and is excited for the potential it holds to improve the world. He looks after all things digital for Coincover, particularly the website. His core expertise is in search engine optimisation where he finds great satisfaction in systemising and scaling processes with Python. Ben is always looking to learn and try new things and, when not looking after his two kids or practising guitar, he can usually be found reading or trying to get better at chess.

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DO NOT Buy Cryptocurrency Insurance for Your Business without Reading This First! | Bitcoinist.com - Bitcoinist

For traditional market investors, cryptocurrencies can be overwhelming on account of the volatility in their prices and fast-changing sentiments that can result in swift profits or losses.

However, given the rising levels of crypto adoption and the importance of cryptocurrencies in a Web3 future, an increasing number of investors are raring to participate in this asset class.

Exchange traded funds (ETFs), which track a particular index, sector, commodity, or other asset, offer the best of both worlds. A few Bitcoin ETFs that have cropped up allow access to cryptocurrencies without the hassle of storing or securing crypto tokens through an online or hardware wallet.

The concept was introduced by ProShares Bitcoin Strategy ETF (BITO) in October 2021 and attracted investments of almost $1 billion in the first few days.

Actively traded on the New York Stock Exchange Arca network, investors can buy BITO shares through a brokerage or directly from ProShares.

With more than $800 million in assets under management, BITO is by far the largest actively managed BTC ETF that invests in BTC futures contracts, treasury securities and cash.

Shorting approach

The latest addition to the BTC ETF space is ProShares Short Bitcoin ETF (BITI), which was launched in June 2022. BITI adopts a shorting approach by trading in a cash-settled futures market to mimic the inverse of BTCs daily performance. With assets of $62 million, BITI is gaining traction among investors who are more interested in profiting from a decline in BTC prices.

Apart from these two offerings, investors can invest in shares of Valkyrie Bitcoin Strategy ETF (BTF), VanEck Bitcoin Strategy ETF (XBTF), AdvisorShares Managed Bitcoin Strategy ETF (CRYP) or Global X Blockchain & Bitcoin Strategy ETF (BITS).

BTF aims to invest close to all of its capital in BTC futures and currently has AUM of $22 million. Both BTF and BITO are trading at about 70 percent below their listing prices, suffering from an almost equivalent decline in BTCs price from its all-time high of $68,890 in November 2021.

XBTF is structured as a C Corporation, a legal structure for a corporation in which the owners, or shareholders, are taxed separately from the entity.Long-term capital gains or dividends are reinvested into the fund, thereby reducing the tax outgo arising from taxable distributions for some investors.

Boasting of a lower expense ratio, XBTF is similar in size to BTF and has performed slightly better than BITO and BTF.

BITS splits its assets between Bitcoin futures contracts and indirect holdings in blockchain companies that are well-positioned to benefit from increasing adoption of the technology. The fund assumes long positions in BTC futures with the purpose of achieving long-term capital appreciation for its investors.

BITS has AUM of $8.4 million and holds more than 50 percent of its assets in Global X Blockchain ETF (BKCH).

The CRYP ETF has exposure to BTC via BTC futures ETFs, BTC futures contracts, short duration fixed income securities, and cash or cash equivalents. It is the smallest among the six BTC ETFs, with AUM of $172,000 and has only 10,000 outstanding shares available for trading.

Apart from the six BTC ETFs, there are more proposals awaiting approvals from the US Securities and Exchange Commission, which could add to the options available in the Bitcoin ETF space.

By choosing any Bitcoin ETF, investors globally can assume exposure to Bitcoin while benefitting from NYSE Arcas fully automated, transparent open and closing auctions in these ETFs.

While none of these Bitcoin ETFs holds BTC directly due to the SECs concerns over BTC being traded on non-secured cryptocurrency exchanges, they do provide investors with exposure to the cryptocurrencys price movements and potentially benefit from its long-term price appreciation.

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Bitcoin ETFs: Passive investing in the worlds premier cryptocurrency - Moneycontrol