Michal K. and Bitcoin – a Mighty Lesson

18 September 2021 | Updated: 19 September 2021

Michal first heard about bitcoin in 2014. He had $4,000 in his savings account. Inspired by his programmer friend, a rabid bitcoiner, he went all-in.

“At the time,” he wrote on his Medium page, “I invested my $4k, the price of a bitcoin was about $600. I got 6.55 BTC. I will never forget that number. Over the next half a year, bitcoin’s price kept steadily declining, until it bottomed out at $152, in January 2015. That’s a 75% loss just like that before I knew anything about how investment (or crypto) cycles work!”

But Michal was committed. He held. More importantly, he had other things occupying his time. He was zooming out.
In April 2017, the price of bitcoin hit $1,200.

He held. And he kept learning.

Between April and December of 2017, it shot up to $20,000.

He held. And learned more.

And then, it crashed down to $6,000. While most people were panicking, what did Michal do? He bought more.

Recently, he began leveraging that crypto in “blockchain banks,” making about $3,000 per month. And now that DeFi is maturing, he’s begun pulling in, on average, $20,000 per month.

His portfolio recently hit the $1 million mark.
Michal K. and Bitcoin – a Mighty Lesson He wrote:
“The reason most people who invest in crypto don’t end up rich is that they can’t hold — or, in the crypto parlance HODL. HODLing is much harder than it sounds.”

Michal offers these three pieces of advice:

ONE
Patience and calm. I watched my holdings dip 75% almost right after I bought them. I held. Then I watched them dip 85% again in 2018. I held. And I bought more. I’m not even counting all the other 20–40% dips in-between.

TWO
Timing is king. Yes, I was lucky that I heard about bitcoin in 2014. But it was my decision to seize the day and not wait a couple of years to see if the technology proves itself. Then again, in 2019, when the price was low, I topped up. It was the right time to do so, even though the returns were far from immediate.

THREE
Less is often more. I know many people who at some point became active traders in crypto. All of them either lost money or made several times smaller gains than they would have if they just held BTC, as I did. The first rule of trading is — don’t lose money. Don’t trade the market if you lack the experience… or the patience to wait for the right opportunities.
Again, if you’re interested in crypto in general, dipping your toes in all it has to offer isn’t a bad idea. Being well-rounded can only help.
But, in the end, those who play to their strengths win out.


Author: Chris Campbell

For Altucher Confidential

 

NB: This article teaches a mighty, real-life lesson. Thank you, Chris C. 

“Great investing requires a lot of delayed gratification,” says Charlie Munger. And this quote is also apt for the blockchain industry. Don’t sell your coins. It doesn’t matter if crypto markets undergo seriously protracted bearish trends, which can happen anytime; viable coins will ultimately trend upwards and bring massive returns in the future. Selling your coins is like killing the goose that lays the golden eggs. Rather, you should use serious bearishness as opportunity to buy more coins. This advice is enough for wise investors.

 

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Perfect Crypto Investment Strategies – Part 3

14 August 2021 | Updated: 15 August 2021

A NON-DIRECTIONAL (MARKET-NEUTRAL) CRYPTO TRADING METHODOLOGY
It has been said often and often, that rule-based discretionary traders are the best traders on this planet. For you to be a winning trader, you need to abide by the Golden Rules of trading, which ensure your lasting success in the markets.

Trading principles that work are timeless and non-market specific. Those principles ensure that you triumph no matter what the market does. And by following the principles, they make you smarter than many other traders out there, who are on the other side of your trades. Most traders on the other side are losing traders, and sincerely speaking, the losses they sustain are what translate to profits for smart traders.

In order words, for you to make profits from the markets, certain traders have to lose. One trader’s positivity is another trader’s negativity. To enjoy everlasting profitability in the markets, the trader must find ways to outsmart other market players; otherwise, the trader will run into problems.

What can you do to outperform other traders?
WHAT THE MARKET-NEUTRAL STRATEGY DOES
For those who don’t know what they are doing, and who have not mastered the art of trading, trading is one of the hardest jobs in the world. Why is trading so hard? It’s because no one knows where the price is going next. Yes, we predict, but we’re not always right.

Sometimes, the market will go as predicted, and sometimes, it won’t. Sometimes, the market will first go against you before going in your favor, and sometimes, it would first go in your favor, only to later turn against you.

In face of all the vagaries of the markets, how then will one manage to make profits? That’s where a non-directional trading methodology like the one used here is extremely useful.

The trick is to catch pips no matter what the market does. Granted, we may not have a 100% guarantee about where the market goes next, but we know that we will make profits no matter where the market goes. The aim is to generate profits regardless of what the market does, whether up or down.

We no longer care about the direction of the market once we have entered; knowing full well that we will make money whatever the market does afterward. That is the essence of this market-neutral system.

UNCERTAINTY IS OUR ALLY
The unpredictability of the market, which scares most people away, is the most important determinant of our gains. It is the factor that enables us to make profits.

What most see as a problem is a boon to us. What causes fears in other people is what brings peace of mind to us. We make profits only because we enjoy dealing with losses. We can’t predict the market with certainties, yet we make money from uncertainties, which will forever be on our side.

Once we open trades, the market can do anything they like, and we eventually make money regardless of that.
TURNING LOSS INTO PROFIT
Embracing loss to make profit is something that must be done, in order to be triumphant on the battlefield of the financial markets.

In one of his past newsletters, Dr. Van K. Tharp says:

“In any endeavor in life, you have up and down periods. Dealing with the market has many such up and down periods. To profit from the up periods, you have to tolerate or even “enjoy” the down periods.

…It turns out that one of the major problems people have in going from their current location to their desired goal is all of the walls or obstacles they continually run into each day. There is a common solution to these obstacles — make them okay. Don’t worry about getting from point A to B, just enjoy bumping into the walls.

If you’re in the market, one of the biggest obstacles you’ll face is the wall of losses. It’s fairly difficult to deal with the markets if you are not willing to lose. It’s almost impossible. It’s like wanting to be alive, but only wanting to breathe in and not breathe out.

When you want to be right, you’re not dealing with the obstacles. Instead, you’re forcing things. When you want to make a profit out of today’s trade, even though it’s a big loser, then you’re not dealing with today’s obstacle. Enjoy the obstacle, embrace it, and be willing to accept it. If the market tells you it’s time to get out at a loss, then do so.

Quite often traders take the relationship they are having with the market and transmute it by developing a different system or trading with a professional money manager. Now, the old struggle they used to have with the market—of not accepting what the market gives them—becomes a similar struggle they are having with their system or with their new advisor. Instead of giving up on the market after a string of losses, just in time to miss the really big move, they avoid their system until it is doing well. When it is showing tremendous profits, they jump on board — only to be blown away by the market. And the same thing happens when they invest with money managers. This desire to be “right” motivates them to jump to the top money manager when he’s hot, only to go through a big string of losses. It’s all the same thing.

Psychologically, if you don’t come to grips with your obstacles and embrace them, you will simply find another way to repeat them. Realize that the walls occur because they are there for you to bump into. When you accept this fact and embrace it, you’ll accept bumping into walls. And strangely enough, you hardly even notice that the walls are there. The result will be a new level of success in the markets.” (Source: Vantharp.com)

MANAGING TRADES WITH THE GOLDEN RULES
As it has been said before, trading principles that work are timeless, and we use some of them in this non-directional trading methodology.

Let us examine a few of them:
Cut your losses short:
This strategy works because we have mastered the art of cutting losses. We cut as many losses as we sustain, as we don’t give them enough breathing space. Once it is clear that a trade is not going in our direction, we truncate it. We truncate as many losses as we see. If you don’t like cutting losses, you can experience occasional wins, but you’ll end up being frustrated and your trading career won’t last long. There is no wisdom in allowing your losses to become bigger.

This is a positive expectancy system since losses are often smaller than profits. If a strategy generates losses that are bigger than profits, then that is a negative expectancy system, just like scalping strategies which usually have large SLs and tight TPs (a few losses will wipe away most or all previous numerous profits). Cutting your profits and running your losses is counter-intuitive and counter-productive.

If you can deal with losses successfully, you’ll easily garner decent gains whenever you come across them.  

Over the years, I’ve studied hundreds of market wizards all over the world, and I even interacted with several of them and gotten insight into their mindset. Their core secret is that they know how to avoid big losses….

Get out of bad trades! The most important factor that will make you a permanently triumphant trader is your ability to avoid big losses; and one surest way to avoid a big loss is to cut it while it’s still small.

Ability to control losses is the greatest skill that can be used to generate an attractive account history in the long term.

Let your profits run:
Once we make profits, we give them enough leeway. Since we know that a profitable trading system is the one whose average profits are bigger than its average losses, we leave our profits in an attempt to make them bigger. The only way to stay forever victorious as traders is to make more money during winning streaks than what is lost during losing streaks.

Safe positing sizing:
That is the part of the system that tells how much to risk per trade. Our positing size is always small. If you risk big, you will eventually lose big. If you risk small, you can then go for small and consistent profits.

Never let your profit turn into loss:
That is straightforward. Once you make decent profits, you have to protect them, and never allow them to turn into losses. Breakeven and trailing stops come in handy in this aspect. However, we use only breakeven stops to make our position risk-free once we make decent profits.

EXECUTING THE STRATEGY
Although the actual entries and exits rules for this non-directional crypto trading strategy are not revealed here, the Golden Rules above are part of the rules we use to implement the strategy.

This gives us a huge edge!

Moreover, this particular method of approaching the market is not used for generating crypto signals. Rather, it is used for our private accounts management.

CONCLUSION
In part 1 of this series, we discuss the best way to discover and invest in cryptos that will perform very well in the future. In part 2, we discuss a position cum swing crypto trading strategy that enables us to find rare, high-quality opportunities and dive in. This part 3 and the final in the series, has examined ways to make money regardless of the directions of crypto markets.

 

Source: https://learn2.trade/ 

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Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

BSV Completes Publication of First Technical Standard

25 July 2021 | Updated: 25 July 2021

The BSV Technical Standards Committee (TSC) has completed the publication of the Merkle Proof standard under the OpenBSV license, which is the first-ever BSV technical standard. This big news is announced during the recently concluded CoinGeek Conference held in Zurich, Switzerland, by nChain CTO and TSC Chairman Steve Shadders and Two Hop Ventures founder and TSC founding member Alex Fauvel.

 

The BSV TSC

Headed by Shadders, the TSC is composed of 10 individuals from seven countries and different sectors within the BSV ecosystem. It encourages active participation of the BSV community in the creation of global standards to fulfill its objectives. The TSC mission is “to promote technical excellence and improve BSV utility by enhancing interoperability, through standardization,” and the publication of the Merkle Proof standard is a huge step towards this goal of interoperability.

 

The standardization process involves three stages: submission of ideas, internal and public reviews, and publication. First, the TSC collects proposals and ideas from members of the BSV community—anyone is encouraged to submit suggestions of what they need in their industry. The second stage involves the actual drafting of the proposed technical standard. Once a draft has been made, it goes through a series if internal reviews that includes all kinds of legalities, such as intellectual property. TSC members sign a non-disclosure agreement in order to ensure everything is kept confidential.

 

“Once we’re happy with the first draft and that’s done several cycles, we then publish it into the public where the public has a chance to comment on it. That is a two-month period and once we’ve incorporated that feedback, if it’s needed, we will publish it, which is the third stage. We then monitor the uptake of it in the industry to either rubber-stamp it and say we recommend the standard or we withdraw it, which we hope to not be doing,” Fauvel explained.

 

Even though a standard has already been published, it can still be revised or even withdrawn if necessary. “It’s simply a matter of somebody articulating an industry need for either an update or a replacement of a standard, and that gets submitted and will be evaluated by stakeholders, not just by the TSC,” Shadders said.

The Merkle Proof Standard

This standardized format indicates the data structure that stores the Merkle proof data during its transfer between users, like what transpires in simple payment verification (SPV) wallets that allows for greater interoperability between platforms and applications. The Merkle proof makes SPV possible, which is indispensable to BSV’s core functionality that enables users to validate BSV payments without having to run a full Bitcoin node or download the entire blockchain.

 

“Aside from a Bitcoin block header, a Merkle proof is probably one of the most fundamental data structures in Bitcoin. It’s what allows you to prove that a transaction is connected to a block, i.e., prove that miners have accepted that transaction, so there are a lot of different reasons why you would want to exchange a Merkle proof between parties,” Shadders pointed out.

 

“It is critical to peer-to-peer interaction because part of that interaction means sending bits of information with Merkle proofs attached, so that means many different wallets need to support it. So, if everyone is implementing it in a different way, then every time you want to attach to a service, you’ve got to work out a new way of doing it,” Shadders added.

 

The Merkle proof standard is composed of two elements: a representation of the proposed data structure format in binary and JavaScript Object Notation (JSON) and an explanation of the algorithm used to validate transactions against the Merkle proof once received in this format. The complete technical information of the Merkle proof standard can be found here.

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Perfect Crypto Investment Strategies – Part 2

16 July 2021 | Updated: 19 July 2021

A POSITION TRADING STRATEGY FOR CRYPTOS
As it has been said before, the best way to make money from viable cryptos is to buy and hold them forever, since investments that are worthwhile are also investments that appear in your will.
Apart from a ‘buy and hold’ method of investing, there are other ways to make money from medium-term movements of cryptocurrencies.

While there are a plethora of worthless crypto trading systems out there, there are a few crypto trading techniques that have proven to be rare gems. One of them is discussed in this piece.

This is a position trading strategy, because we will hold a position for a certain amount of weeks. We also exit a non-performing trade after a fixed period of time.
WHEN NOT TO ENTER THE MARKET
Do not go against the major trend, since doing that will prove to be suicidal. Major trends are easily located on higher timeframes.

This is where many people get it wrong. Many traders enter the market at wrong times; they go long when prices have rallied significantly, and thus suffer when caught in pullbacks that invariably occur. They also go short when the markets are significantly bearish and ready for a serious bounce.

Granted, a market that appears oversold may still go further southwards, and vice versa for a market that is overbought. However, those who trade in such manner will often get whacked by inevitable corrections that follow. When a barber or a waiter starts talking like a trading genius, showing you how much they have made, then it is time to exit the market.

We want to follow the trend. We want to follow the line of the least resistance, for that makes a perfect rational and logical sense. Nonetheless, we want to enter only when the odds are properly stacked in our favor, since we just don’t want to buy because the market is going up and we don’t want to sell simply because the market is falling.

Yes, we don’t want to sell in a bear market that is crashing into long-term demand zones; and we don’t want to buy in a bull market when it is ramming into very strong supply zones.

WHEN TO ENTER THE MARKET
When the market is seriously weak, wait for a transient northwards movement before you go short. This makes you sell when there is a rally in the context of a downtrend. In order word, you are selling at a higher price in a downtrend.

When the market is significantly bullish, wait for a transitory dip before you go long. This makes you buy when the price is on sale, and in the context of an uptrend. In order word, you are buying at a lower price in an uptrend. That means you are buying at a lower rate.

By selling weak trading instruments at higher rates, and buying strong instruments at lower rates, you maximum you chances of making profits.

READINGS, TIMING AND PARAMETERS
The logic behind this trading technique has been summarized above, but some questions remain. What timeframe to use? When to enter exactly? When to take your profits? When to exit a non-performing trade?

For this crypto strategy, the condition for entry in a bear market is different from the condition for entry in a bull market.
Strategy snapshot
Strategy style: Position trading
Timeframe:*
Indicator: Exponential Moving Average (EMA)*
Instruments: Focus on the top 100 cryptos only
Entry rule in a bear market: When the EMA* is sloping downwards, go short on a coin that has rallied by x* percentage, provided price remains below the EMA*
Entry rule in a bull market: When the EMA* is sloping upwards, go long on a coin that has dropped by x* percentage, provided price remains above the EMA*
Exit rule for non-performing trades: Exit a trade that has proven to be non-performing for x* days
Exit rule for positive trades: Exit a positive trade that has been on for x* days
Position size: 2% per trade

AN EXAMPLE IN A BEARISH MARKET
Between June 26, 2021 and June 29, 2021, Internet Computer (ICPUSD) moved upwards by roughly x* percentage; whereas that happened within the context of a downtrend. Thus it would be illogical to go long then. Rather the best action was to go short because the line of the least resistance was in favor of sellers.

Since June 29, 2021, until the time of writing this article, ICP has fallen by close to 2300 pips.

While doing this, we take the risk management and position sizing recommendations serious.
You’ll never be a victorious trader until you master these 2 vital aspects of trading.

A GOOD ENTRY IN A BULLISH MARKET
In May 2021, EOS (EOSUSD), which was previously enjoying buying pressure, suddenly dropped heavily, losing more than x* percentage of its value. The price was still above the EMA (which was sloping upwards). This scenario proffered a clean entry signal, and we opened a long trade on EOSUSD.

EOSUSD eventually went upward and made a nice profit before we exited the trade.
A GAME OF PATIENCE
As outstanding as this crypto strategy is, the signals generated by it are few and far between.

First we focus on the top 100 cryptocurrencies only, because of their liquidity, high capitalization, potential and popularity. Second, we don’t enter the markets until our conditions for long or short trades are totally met. That is why patience is needed while using this strategy.

Think of how many trades you have taken in the past. Have you been profitable with them? Taking a few trades in a month or a quarter and making decent profits is better than taking numerous sub-optimal trades over short period of time and having drawdowns.

Valid signals generated by the strategy discussed here are scanty; but when it does generate a signal, then, believe me, it’s time to make money. We’ll always be patient for valid signals to be generated.

CONCLUSION
Dr. Van Tharp says you can only trade your beliefs about the market and that success in the markets depends upon how useful those beliefs are. That means when you have useless beliefs about the markets, you’ll find it difficult to trade victoriously. For you to be victorious, your beliefs about the markets must be useful.

The trading method discussed here is one of the systems we use to generate long-term signals for our subscribers in Learn2.trade Crypto Telegram channels. There are other strategies that generate intraday and swing trading signals, but the one discussed here is what will be used to generate position trading signals for our subscribers.

The next article in this series will discuss a magical/outstanding non-directional (market-neutral) trading methodology. Honestly, this ensures we make money no matter what the markets does.


*The exact parameters and readings are not disclosed as we use this strategy to generate signals for our paid subscribers.


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  • Over 100 different financial products
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  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
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9.8

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Tips: How to choose best crypto converter

19 June 2021 | Updated: 19 June 2021

There are many ways to buy cryptocurrency now. This is mining, buying on an exchange, or purchasing directly from other owners. Sooner or later, the moment comes when it becomes necessary to use cryptocurrency exchangers to exchange fiduciary money – the usual rubles, euros or dollars.

This is primarily due to the fact that world currencies have the greatest liquidity.

Anonymous Cryptocurrency exchangers are online services that convert currencies in a given direction. Their priority over other methods of “cashing out” virtual money is simplicity and efficiency. In most cases, users do not need to verify their identity or even register to perform a transaction. They can also exchange currency at any time of the day.
Various types of cryptocurrencies are converted into money on the account of a particular bank, electronic payment system, and even cash. However, all cryptocurrency exchangers take a certain share of the payment as a reward for the transaction – a commission. Now there is a huge selection of exchangers, including those that work with virtual money.

How to exchange cryptocurrency for money on the Internet
The main methods of selling and buying cryptocurrencies include:

• Exchangers. Services offering a wide range of payment directions, including cryptocurrencies, bank cards, electronic payment systems, mobile operators and, in some cases, even cash. They work without verification and do not impose practically any requirements on the user.

Anonymous Cryptocurrency exchange. They can be centralized and decentralized, but only the former support withdrawal to fiat. The downside is that to work with cards and payment systems, cryptocurrency exchanges usually require identity verification, so this option may not be suitable for those who want to trade anonymously.

Peer-to-peer exchange sites. p2p exchanges provide an opportunity to buy and sell anonymously and without intermediaries. Users exchange assets directly with each other, and in order to make the transaction safe, the sites support a special escrow mechanism. He keeps the cryptocurrency in a separate escrow account until the application is paid.

Of the most popular monitoring services (free, of course), the following can be distinguished:

• KursEkspert – large monitoring with a large base of exchangers.

• BestChange is the oldest monitoring service.

• OkChanger is also a fairly large monitoring service, though not as popular as the first one. However, it will allow it to be supplemented very cool to obtain more or less balanced information. The principle of operation is very similar to the previous service.

The above monitoring services differ from their other competitors in the completeness and more or less high reliability of information. Once again, I draw your attention to the fact that it is better not to rely on one of them, but to monitor all three.

Advantages and disadvantages of exchangers
Anonymous Cryptocurrency exchangers are a fairly fast and secure way to exchange cryptocurrencies for real money or vice versa.

For example, let’s take one promoted exchanger called “xchange”. In general, this is an even less sparing exchanger, compared to some others. Let’s start with the pros of xchange (fortunately there are):

1. Huge selection of payment systems for exchange. You can directly transfer money to a Sberbank card, or qiwi.

Relative convenience, to exchange cryptocurrency, you need to use almost only one service (in our case, it is xchange).

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  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
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  • Award-winning Cryptocurrency trading platform
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  • FCA & Cysec regulated
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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Top 3 Hottest Bitcoin Investments Of 2021 That You Shouldn’t Ignore

15 June 2021 | Updated: 15 June 2021

Introduction
Bitcoin’s 2021 bull run has dominated media headlines. BTC has gained over 100% in under two months, making it perhaps the best performing tradable asset so far.
Almost every week, Bitcoin shattered its previous price records, reaching historic highs of $61,354.14. Although it has since parred some of the gains, analysts estimate that it will top $100,000 by year-end. We understand that most people may not have the technical know-how to trade actively. That is why we will show you the top three hottest Bitcoin investments of 2021 that you shouldn’t ignore.

1 | RoFX Expert Advisor
RoFX is an auto trading robot with an inbuilt self-education function. That means that the AI powering RoFX works autonomously and improves upon itself over time. You should therefore expect your trades to be more efficient with time. More so, RoFX is meant for everyone, and you don’t need to be an advanced trader or have any knowledge of algorithmic trading. All you have to do is make your deposit and let RoFX do the trading for you. No manual trading is required on your part; just sit back and wait for your profits.

If you are skeptical and think that RoFX sounds too good to be true, RoFX provides you with daily trading reports. This not only provides you with transparency regarding your daily returns it also enables you to compare the returns you receive from RoFX with other auto traders. Historically, RoFX has attained a daily profit of 0.38%, which translates to more than 11% monthly returns. This is an impressive feat considering that RoFX has more than 70,000 active users. Although RoFX maintains 100% user anonymity, the trading reports are verifiable.
In achieving the incredible returns, RoFX has set a reserve fund that protects you from negative returns. This is called ‘loss coverage.’ More so, trading is leverage free which minimizes the downside in highly volatile markets. Note that you don’t have to download or install any software on your computer since RoFX is managed from within the company servers.

RoFX has three different packages in which you can earn passive income with BTC. They include Advanced Compound, Basic, and No Lock packages.

RoFX No Lock Packages: This package means that you can deposit your funds with RoFX and withdraw them any time you wish. Under this package, there are five categories: Trial, Easy Start, MoneyMaker, Gold, and VIP. They are differentiated by your share of the daily profits and performance fee. You’ll need a minimum of 0.05 BTC to invest in the RoFX No Lock Package.

RoFX Basic Packages: This package has a lock-in period, which means that once you’ve deposited your BTC, you can withdraw after a specific duration. In the trial version, the lock-in period is 30 trading days and 70 for the Easy Start. For the MoneyMaker, Gold, and VIP categories, you can manually select a lock-in period between 70 to 360 trading days.

RoFX Advanced Compound Packages: Of the three RoFX packages, this one has the highest returns since profits are compounded by default without updating the trading period. Although it has the lowest performance fees, you have to select the lock-in period for all five categories ranging from 70 to 360 trading days.
https://rofx.net

2 | Bitcoin HODLing
This is simply buying and holding your Bitcoins for the long haul. This is one of the oldest, easiest, and most direct ways of investing in Bitcoin. However, this strategy requires patience and the ability not to be swayed by the frequent market volatility surrounding the price of BTC.

The primary advantage of this strategy is that you outrightly own the BTC; unlike trading with BTC CFDs, there is no leverage involved. Hence, the only downside you face is if the price of Bitcoin drops to $0 and your entire portfolio is wiped out. But there is zero chance of this happening. One would argue the opposite – in the long term, BTC is poised only to go higher. Some analysts place it at $100,000 by the end of 2021.

Let’s take an example if you bought and HODLed BTC in January 2020, your portfolio would have appreciated about 590%.
For someone who started HODLing in January 2019, the returns for BTC are over 1,200%.
3| Wrapped Bitcoin
For the most part, the DeFi platform is not compatible with BTC since it is built on the Ethereum platform, and most DeFi applications run on the Ethereum blockchain. But you shouldn’t worry. Using Wrapped Bitcoin, you still make Bitcoin investments on DeFi.

With Wrapped Bitcoin, you can deposit your BTC into smart contracts, which can then be used in the DeFi ecosystem. Primarily, Wrapped Bitcoins mint tokens that are compatible with ERC-20 and pegged on the value of BTC. This creates unlimited opportunities for the Bitcoin investments such as staking, providing liquidity pools, and HODLing dividend-paying altcoins.

We hope you find this article interesting and informative. In case of any questions, please let us know in the comments below.

All the best. Cheers!

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Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Can People Earn In Yield Farm? – Here Is The Ultimate Answer

28 May 2021 | Updated: 28 May 2021

 If in the past, in the field of cryptocurrencies, investors wanted to find a way to increase profits or increase the number of coins held by trading, now there is a new way to help investors quickly increase that amount of coins. It is Yield Farming.

So what is Yield Farming? How does it work?

The following article will help you better understand this term and help you make money with this method in the safest way.

What Is DeFi?
Let’s take a look at the term DeFi Yield Farming. Before getting into more details about Yield Farming, we’ll take apart the term DeFi.

DeFi generally refers to Decentralized finance. Decentralized finance can better be defined by defining its opposite, which is Centralized finance. It’s something that we’re all used to today. Centralized finance means that there is a powerful company or institution at the center of the whole financial transaction. For example, you want a loan from the bank, and you go to the bank. If the people at the bank don’t like your credit, they don’t like your color or where you’re from, you may not get that loan.

One problem about Centralized finance is that there is a centralized organization controlling access to capital and you have to interpret all the rules written and check whether or not you fit those interpretations. In contrast, Decentralized finance is all self-executing programs that exist on the Ethereum blockchain. There is no centralized place where your transactions can be controlled. You can go and get your lending decisions based upon not anyone’s interpretation but whether or not you meet the rules that have been set
up by programs.
This new way of finance is aimed to carry out financial activities such as lending, borrowing, investing in platforms that are decentralized open-source and do not
rely on big institutions.

What Is Yield Farming?
One of the things that exist in the DeFi framework is a type of program called a smart contract, which is pivotal to the function of the whole system. A type of
smart contract is called a liquidity pool from which people can execute Yield Farming.

Yield Farming is the procedure of taking an initial investment to gain an annual interest and you can grow that investment without having to add new money. More simply, it means locking up cryptocurrencies and achieving rewards.

How Does Yield Farming Work?
To better understand this concept we will need to know about the Automated Market Maker (AMM) model. We can mention the popular AMMs like LaunchZone, Uniswap or Pancakeswap. Like centralized exchanges, AMM has many different trading pairs but especially there are no buy or sell orders and traders do not need to look for buyers. Instead of that, a smart contract will work with the role of the creator of the exchange transaction.

Therefore, although there is no need for intermediaries, someone must still create the market and provide liquidity. Those are liquidity providers (LPs). When you want to exchange Usdt for BSCX, you will exchange it with the Liquidity Pool. USD is transferred to the Pool and BSCX will be from the pool to your wallet. When someone else wants to exchange BSCX for Usdt the process is similar.

To understand how such high returns are plausible, you need to understand TVL and liquidity pools, which are the three core elements of yield farming.
Total Value Locked (TVL)
TVL is the total liquidity in liquidity pools, making it a useful metric for measuring the health of DeFi and the yield farming market in general. It is also an effective metric for comparing the “market share” of different DeFi protocols. A pretty good destination for watching TVL is Defi Pulse.

Here you can check which platform has the highest amount of ETH or other cryptocurrencies locked
in DeFi. Accordingly, it can give you an overview of the current yield farming status.

Of course, the more value locked, the more yield farming continues to grow. It is worth noting that TVL can be measured in ETH, USD, or even BTC. Each will give you a different view of the state of the DeFi money market.

Liquidity Pools
These pools allow anyone to stake their assets into them to earn a passive income through interest. The interest is generated from the trading fees imposed upon users who tap into these pools to make exchanges. It is distributed to every liquidity provider based on what percentage of the total pool they provide.

How Is Yield Farming’s Profit Calculated?
Normally, the profit from Yield Farming will be calculated on an annual basis, like the interest rate on a 1-year savings deposit. There are two units of profit measurements that you often see are APY (Annual Percentage Yield) and APR (Annual Percentage Rate). APY takes into account compound interest while APR does not. If so, is there any way to calculate profit from Yield Farming in the short term?

It is quite difficult to estimate the profit from Yield Farming because it is a highly competitive campaign and many innovations as projects try to attract investors to provide liquidity into their protocol. As a result, profit levels can change very quickly and are difficult to accurately calculate in the short term.

Imagine this, when a user provides liquidity for a project, the protocol will use the built-in algorithm to automatically calculate a certain amount of reward. The more people enter Farming, the lower the reward each person receives, resulting in a lower profit from Yield Farming compared to the original.

As a result, after one year, your actual return may not be the same as the APY or APR at the time you provided the liquidity to the protocol, not taking into account the price movement of the original asset.
Risks Of Yield Farming
Everything above may sound amazing, but Yield Farming is fraught with risks. Like anything in this world, the potential for high rewards always comes along with a comparable chance of you losing money. In the case of yield farming, one of the biggest risks comes from smart contract failure. Because the entire field of DeFi is young and still growing, problems can occur. There’s generally always a chance that a smart contract could either fail or have some exploitable imperfection that could lead to a loss of funds.

Moreover, the impermanent loss is another risk you need to be careful of. That term means that you’re always selling off the better-performing coin in exchange for the lesser performing one. However, don’t worry too much if you invest in a good project. In this case, the impermanent loss can still be countered by transaction fees and the part of the token that can be farmed.

Final Thoughts
Yield Farming brings high profits in a short time. This is something that no one can deny about its attractiveness. However, yield farming still has risks such as asset liquidation, hacking because of fragile smart contracts. Therefore, you should be cautious when sending money to DeFi protocols to farm.

There are many opportunities to find a high return rate compared to traditional finance. Despite that, we still have to remember that it is still a very new industry, so it’s full of risks. We hope this article has provided much useful information for you about DeFi and Yield Farming.

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Is Dogecoin (DOGE) a good long-term investment?

22 May 2021 | Updated: 23 May 2021

You can still make money on Dogecoin in 2021!
As this article is being written, DOGE has gained close to 80,000% since its creation, despite the recent large pullback in the market. Price is bound to recover from here as the market moves higher.

You can make money from Dogecoin this year. Many investors have made money lots of money from that coin since it was created and many more will make money this year, even if they are newcomers.

For most of 2021, the overall bias on DOGEUSD is bullish, and while there would be large or minor pullbacks along the way, the market would quickly or slowly recover. Price might reach 1.00 USD and possibly reach 1.5 USD before the end of this year.

There are active crypto traders who make money from DOGEUSD by buying it when the RSI period 14 reaches the oversold region of less than level 30. They also sell the coin when it reaches the overbought territory of the RSI 14 level 70 on the daily chart, raking in huge gains as they ride DOGE price southwards.

Also, investors who buy the current pullback and hold till the end of December 2021, will have nice profits to show for their patience.

At the end of 2021, I would dump Dogecoin completely and convert the gains on it to cash or a stablecoin.
But I won’t hold Dogecoin (DOGE) for the long-term
Most cryptocurrencies are scams because they do not serve unique purposes or solve unique problems. Even certain cryptos that are believed to solve real problems have disappointed investors.

A number of coins which used to be household names and very promising some years ago have now become almost worthless. Some coins/tokens made money years ago, and they lost more than 90% of their value and have not recovered anything since then, even though cryptos generally went upwards in 2020 and 2021.

I will give examples of these coins in another article.

Some experts once thought that coins in the top 50 or the top 100 were to be trusted. Nonetheless, in the last 14 months, a considerable amount of coins got pushed out of the topmost 100; and while certain coins did not get pushed out too far, some coins got pushed too far, even close to the topmost 1000.
Why Dogecoin (DOGE) is not a good long-term investment
But why?

There is no way you can liken DOGE to ADA or ETH. There are huge differences. You can never compare DOGE to BTC. Yes, if one is a gem, the other is paper.

For instance, while BTC has limited/maximum supply by design, about 10,000 units of Dogecoin are created per minute. If Dogecoin reaches the resistance line at $1.00, its total value would be in the region of $129 billion, which will make it the number 3 crypto coin in the word in terms of market cap.

I quote a veteran, professional coach for traders and investors:

“..I personally think that DOGE is probably one of the worst cryptos even though it is currently ranked #5 in market cap. It was formed as a joke, so at least it’s not a Ponzi scheme. DOGE is based upon a meme and has no reason to have any value except that young people think it’s real and important. If you talk to most people in their 20s, DOGE is the only crypto they own because it’s all over social media.

Elon Musk might be brilliant at owning tech companies but he certainly isn’t an authority on investing in other people’s companies. He’s been talking and joking about DOGE lately but I recently learned that he has been working with the DOGE developers since 2019. Could that be more joking? Either way, I don’t trust people who get sued (repeatedly) for tweets that impact the price of their company’s stock (Tesla). Tesla stopped accepting BTC as payment for their cars. It will still keep its large BTC investment even though it burns a lot of electricity. Musk is accepting DOGE payment for his space X project but DOGE is also a proof of work coin that burns a lot of energy too…” – Van K. Tharp, PhD

Please let the fact above sink in.
I also quote Sir John Hargrave of Bitcoin Market Journal:

“What are you buying? You’re buying a joke currency that depreciates in value (10,000 new units of dogecoin minted every minute). It already has a higher market cap than Polkadot, Cardano, and Algorand, which are actual blockchain platforms where people build things. If it gets to $1.00, it will surpass Binance coin, which powers the largest crypto exchange in the world.

To me, it’s clear that Dogecoin is a bubble, fueled by the same kind of meme mania that has driven up GameStop stock. It’s not really an investment, it’s a gamble, and I hate gambling. So I wouldn’t touch Dogecoin with a 10-foot leash, simply because of the tokenomics…”

Dogecoin to collapse in 2022
Dogecoin is doomed to become worthless in the future, starting somewhere in 2022, and investors who don’t cash out by the end of this year will deeply regret it.

To hold coins for a long period of time, do not bet your sweat on tokens that serve no real purposes other people’s fantasies. It is better to stick to cryptocurrencies that have stood the test of time.

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Ernst & Young Invests $100 million into Blockchain Industry

18 May 2021 | Updated: 18 May 2021

Behemoth accounting firm Ernst & Young Global Ltd. has joined the growing list of large corporations investing in crypto and blockchain technology. The firm announced yesterday that it has invested $100 million into engineering and developing distributed ledger technologies (DLT).

Ernst & Young unveiled its second-generation (G2) smart contract and token review tools using its Ernst & Young Blockchain Analyzer product site, which includes a testing studio for enabling simulated smart contract execution for complex decentralized finance (DeFi) applications. The company noted that:

“The new iteration supports multiple new capabilities that [will get] used in complex DeFi contract ecosystems,” Ernst & Young announced. They also stated, “It offers a blend of compliance testing with traditional code review, and it supports customized smart contract tests and simulation of mainnet transactions.”

Ernst & Young also mentioned that Italy-based beer company, Birra Peroni, utilizes its Ethereum-based supply chain solution, known as the “EU Ops Chain Traceability.” Birra Peroni uses the supply train tracker to verify the information and to mint non-fungible tokens (NFTs) for the identification and monitoring of Peroni beer batches.

Ernst & Young Launches More Blockchain Projects

The accounting firm also revealed that it contributed source code to a zero-knowledge-proof prototype compiler in the public domain. Starlight, Ernst & Young’s latest ZKP protocol, addresses worries over the protection of commercial confidentiality on a shared network.

Ernst & Young, in collaboration with Microsoft and ConsenSys, launched The Baseline Protocol, an enterprise-focused Smart Contract protocol, in March 2020. This protocol takes advantage of the Ethereum network as a middleware while providing adequate security for its network users.

The Baseline Protocol provides a platform for enterprises to transact on blockchains without compromising their data security to network counterparts.

What this means for the Blockchain Industry

With more institutional investment coming into blockchain technology and the cryptocurrency industry, these industries become more demystified and are attracting more investments and mainstream adoption.

 

You can purchase crypto coins here: Buy Coins

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  • Over 100 different financial products
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  • Award-winning Cryptocurrency trading platform
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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.