Ways to spot and avoid crypto scams in 2024 The Cryptocurrency industry is arguably the fastest-growing industry globally. As mentioned in one of my articles, the cryptocurrency Alpha Coin ‘Bitcoin’ became the first asset to hit the trillion dollar market cap within two decades compared to the likes of Apple, Google, and Microsoft. Bitcoin hit the $1 trillion dollar mark in 12 years, showing the massive opportunity and potential of the digital assets market. This and many more have been the main reason for a consistent and continuous influx of new individuals and organizations into the cryptocurrency space, as…
Author: Patoski
Introduction Cryptocurrency has become a hot topic in recent years, with Bitcoin, Ethereum, and other digital currencies gaining significant attention and popularity. However, with the rise of cryptocurrency comes the potential for issues and problems, from fraudulent transactions to lost or stolen assets, the world of cryptocurrency can quickly become a nightmare for those who are sparsely informed about the workings and operations of the industry. In over a decade, the cryptocurrency space has experienced numerous cases of fraud, hacks, and thefts, with several high-profile crypto scams recording losses of billions of dollars. Some of these fraud cases, I have…
Bitcoin Price Jumps 15% Following US Regulatory Move Bitcoin’s price surged by 15% on Monday, marking the biggest one-day increase since November 2021’s market turmoil. The rise came after US authorities took steps to allay concerns about the health of the nation’s financial system, leading to a rally in shares of cryptocurrency companies. Bitcoin’s latest gains helped to extend its recovery from its worst week in around four months. The cryptocurrency market has been recently hit by several incidents ranging from an equity selloff to jitters in the banking sector and an escalating US regulatory crackdown on crypto. These various…
Crypto Trade Market at Risk Due to Banks Shutdown The digital asset market has experienced a turbulent year, including high-profile blow-ups. The recent shutdowns of SVB Financial Group’s Silicon Valley Bank, Silvergate Capital Corp., and Signature Bank add a new stress level. The shutdown of crypto-friendly bank Silvergate and the closure of its electronic payments platform, the Silvergate Exchange Network, is particularly concerning for the market. For years, moving funds between digital assets and banks was a costly, lengthy, and clunky process, making it difficult for investors to dabble in crypto. Silvergate established the Silvergate Exchange Network (SEN) in…
Bitcoin Falls for Fourth Straight Day Amid Silvergate Bank Troubles The world’s largest cryptocurrency, Bitcoin, has hit a two-month low as a selloff in the digital asset market intensifies following the collapse of another industry leader. The cryptocurrency fell for the fourth consecutive day, dropping 5.7% on Thursday to trade around $20,800. Meanwhile, tokens like Ether and Dogecoin also edged lower, losing 5%. Silvergate Capital Corp, a crypto-friendly bank, recently announced plans to wind down operations and voluntarily liquidate its bank, causing renewed turmoil in an industry already rocked by a series of blowups. The company’s unraveling coincides with heightened…
The Future of Stablecoins? Arthur Hayes Proposes Bitcoin-Backed NakaDollar Are you ready for the future of stablecoins? Arthur Hayes proposes the Bitcoin-backed NakaDollar, relying on exchanges to maintain the dollar peg. Arthur Hayes, the co-founder and former CEO of BitMEX, recently proposed a new stablecoin called NakaDollar that Bitcoin would back. The idea behind this cryptocurrency is to offer a stable, dollar-pegged alternative to traditional stablecoins, often criticized for lacking transparency and centralization. According to Hayes, NakaDollar would rely on exchanges to maintain its dollar peg by holding an equal amount of Bitcoin and US dollars in reserve. This approach…
Is Forex Trading Tax Free in USA? Forex trading is a popular investment option for traders looking to make a profit by speculating on the fluctuations of foreign currency exchange rates. It is a very broad industry and also very dynamic. Forex trading experience varies for every trader, and the processes in which the trades are carried out also can be different for traders. One of the major reasons why this happens is due to the location of the trader. Every country has its policies and rules governing their administrations, and this affects every sector of their economy, including Forex…
Cryptocurrency Trading for Beginners The cryptocurrency space is growing rapidly by the day, and with it comes a lot of opportunities. One of the most sort after opportunities is cryptocurrency trading, which is fast becoming a great way for cryptocurrency traders to earn their fortunes from the crypto industry. Therefore, in this article, we will be helping you unlock the secrets of cryptocurrency trading for beginners by making you understand the basics of crypto trading. Meaning of trading Trading, in layperson’s terms, involves buying and selling assets. These can be goods and services, where the buyer pays compensation to the…
Spread, Pip, Lot size, and Leverage in Forex Trading Spreads, Pips, Lot size, and leverage are important terms in forex trading that every beginner forex trader needs to know and understand in other to navigate the Forex market properly and profitably. In this article, we would be giving explaining these terms. Meaning of Leverage in Forex Trading Leverage In forex trading is using a smaller deposit to control a much larger total contract value. In layman’s terms, leverage gives forex traders who have very little capital the ability to navigate the forex market by helping them supplement their initial capital through Leverage…
SENTIMENT INDICATORS Just as fundamental and technical analysis can help a forex trader improve their trading profit, sentiment analysis using sentiment indicators also helps a trader in profitable forex trading. Sentiment Indicators are basically indicators of crowd behavior in the Forex market. In other words, they measure the market’s pulse or the outlook of traders on various market conditions. Forex market sentiment indicators are a very useful tool that traders can utilize to improve their performance in the Forex market. Unfortunately, many investors don’t give much attention to these indicators. Most focus mainly on either fundamental analysis or technical analysis, or a…