Month: March 2021

Cheap Cryptocurrency: Five Coins You Can Add to Your Wallet Today

Cheap Cryptocurrency: Five Coins You Can Add to Your Wallet Today

First off, whether you’ve got five bucks or $5 million, just about any cryptocurrency is within reach. The only boundary to entry is usually set up by the crypto exchange. One of our favorites, Coinbase, has a $2 minimum. That means you can purchase or sell as little as $2 worth of any cryptocurrency on that exchange.

And when it comes to buying crypto, you don’t have to buy a whole coin. Not by a long shot. Take Bitcoin for instance. Each Bitcoin is made up of 100 million satoshis. A satoshi is the smallest fraction that a Bitcoin can be broken down to. So as long as Bitcoin is trading for less than $200 million per coin, you can pick up a fraction of it for less than $2.

And I think you’d be hard pressed to find anyone that wouldn’t consider $2 a pretty cheap investment…

The other way to classify a cheap cryptocurrency is by finding one that’s undervalued. In other words, it’s trading cheaper than its perceived value. Now, finding an undervalued crypto coin can be a trickier endeavor. But as we’ve seen in the past year, Bitcoin has been outperforming just about every other asset classes. And it’s not hard to find analysts that predict a continuation of its bull run.

Will Bitcoin actually hit the $100,000 mark this year, as some forecasters predict? Who knows? But it is within the realm of possibilities. And if it does, that would certainly qualify Bitcoin as a cheap cryptocurrency right now.

But for our purposes, we’re going to look at five altcoins that have a whole lot more room for growth…

Five Cheap Cryptocurrency Coins Ready for Your Wallet

  • Ethereum (ETH)
  • Chainlink (LINK)
  • EOS (EOS)
  • Fusion (FSN)
  • SafeMoon (SAFEMOON)

Bitcoin’s Closest Rival

We’re starting our list with what is the second largest crypto coin by market cap. Ethereum is also probably one of the better known cryptos out there. Those looking to make a cheap cryptocurrency play could certainly find cheaper alternatives. But Ethereum’s growth potential shouldn’t be ignored. It’s blockchain tech plays a vital role in Initial Coin Offerings. And it is one of the biggest drivers behind decentralized applications. Unlike Bitcoin, Ethereum has moved well beyond the finance sector. If you’ve heard or read about any non-fungible tokens (NFTs), they were probably part of the Ethereum blockchain.

But again, Ethereum isn’t cheap. However, its value has been steadily rising faster than Bitcoin’s. And no doubt you’ve seen how well Bitcoin has performed in the past year. Like we said at the top, “cheap” is relative. But compared to where Ethereum could be valued at a year from now, there’s a good chance it’s trading at a discount. That’s why, despite its current price, Ethereum still deserves a spot on this list of cheap cryptocurrency coins.

Connecting Two Different Worlds

Chainlink is another crypto that hasn’t put all of its eggs in the finance basket. And that’s likely to keep it important for years to come. As its name suggests, the technology developed by Chainlink allows it to act as a connector between decentralized networks (on a blockchain) and off-chain outside resources. This is a pretty big deal because it allows decentralized applications (operating on Ethereum for instance) and helps them to access off-chain data.

Any outfit that’s connecting those working on a blockchain with off-chain data requires trust from developers. And Chainlink has earned that trust so far. As blockchain technology becomes more widespread, Chainlink won’t remain a cheap cryptocurrency for long.

Not-Quite the Ethereum Killer

When EOS first came out, it was touted as a big threat to Ethereum. As the native crypto on the EOS.IO blockchain, it is hugely scalable. There are currently more than 100 decentralized apps on its network. And there are thousands who use and rely on it every day. While it didn’t quite kill off Ethereum, it has found a way to foster a healthy relationship right alongside it.

One of the most compelling elements of EOS is its ability to process 1 million fee-less transactions per second. The company has also scored some high-profile partnerships, including the likes of Google. That alone is almost sure to keep EOS rising along with other cheap cryptocurrency coins.

A Cheaper Entry Point

Back when Bitcoin was the talk of the town in 2018, Fusion made a decent splash of its own. When crypto prices fell, so did fusion. However, during this current bull run in the crypto space, Fusion has remained pretty steady. That is to say, its value hasn’t risen much. This despite the fact that Fusion has been steadily ticking all the boxes on its proverbial to-do list.

Fusion has established its ticketed proof-of-stake algorithm. The company has rolled out its smart contract features. It’s also introduced an NFT management system. And going forward, it has plans to develop a cross-chain ecosystem to support transactions between blockchains. If Fusion can crack the code on this, that could make it a household name. And that’ll result in Fusion quickly being ushered off any cheap cryptocurrency lists.

The Penny Crypto with Lots of Potential

Any investment has some element of speculation in it. But the SafeMoon cryptocurrency is about as speculative as it gets. Nonetheless, we’ve decided to include it on our list due to all of the interest its already garnered. This despite the fact that it’s still pretty difficult to invest in. So, should it land on some of the major exchanges, SafeMoon could skyrocket in value.

One of the more interesting elements of SafeMoon is that it rewards holders and punishes sellers. Those that sell their stake in SafeMoon are hit with a 10% penalty tax. Half of that tax is redistributed to holders. The idea here being that the longer folks hold, the more crypto they get.

For now, the path to entry is a bit of a hard one. First, users need to set up a crypto wallet. You can check out some of our favorites here. Users need to set up their wallets to work on the Binance Chain Network. Then they need to buy BNB coins in their Binance account. Then put them in their wallet and visit pancake swap. Connect the wallet to pancake swap and exchange for SafeMoon. If it sounds tricky, it is. So here’s a video that also explains the process in more detail.

SafeMoon is far from a sure bet. But it certainly qualifies as a cheap cryptocurrency. And based on the laws of supply and demand, continued interest in SafeMoon could send it upwards fast.

The Bottom Line on Cheap Cryptocurrency

The old saying, “You get what you pay for” doesn’t really apply to cryptocurrency. It’s all ones and zeros on a server somewhere. But as interest grows and they become more mainstream, those ones and zeros can add up to a serious chunk of change.

We already know the Fed is exploring a digital dollar. Big banks are offering crypto access to clients now. And there are even crypto ETFs out there. The journey of cryptocurrency into the mainstream is just warming up. And these cheap cryptocurrencies could turn a healthy profit when we get there.

If you’d like to stay on top of all things crypto, we suggest signing up for our Manward Press e-letter. In it, Andy Snyder details his journey into cryptocurrency, how he became an expert and what altcoins are getting his attention.

Ripple Goes For Asia Amid Continuing Legal Battle In United States

Ripple Goes For Asia Amid Continuing Legal Battle In United States

US-based major blockchain company Ripple that is still fighting a major legal battle with American regulators said it has agreed to acquire 40% in Tranglo, an Asian cross-border payments specialist.

The transaction is expected to be closed this year, while TNG Fintech Group will remain the majority shareholder in Tranglo, Ripple said without providing any other details about the deal.

With this acquisition, the blockchain company aims “to meet growing customer demand in the region and expand the reach of RippleNet’s On-Demand Liquidity (ODL) service.” ODL uses the XRP token to send money. The US Securities and Exchange Commission (SEC) accused Ripple’s two co-founders and executives of personally profiting from the sales of XRP, which it claims is an “unregistered security,” to the tune of around USD 600m.

As the legal battle is still ongoing in the US, the company aims to broaden its ODL footprint in Southeast Asia, “the fastest-growing region for RippleNet adoption.” Last week, Ripple announced Brooks Entwistle as Managing Director of Southeast Asia.

Brad Garlinghouse, CEO of Ripple, previously said that if the SEC were to say that XRP is a security, “a lot of what Ripple does in the Unites States, we could continue, no problem.” According to him, “more than 90% of RippleNet customers are outside the US,” so Ripple would “continue to build the business and grow.”

Source – Crypto News

Bitcoin price jumps after Visa set to allow payment settlement using crypto

Bitcoin price jumps after Visa set to allow payment settlement using crypto

The price of Bitcoin jumped back above $57,000 on Monday morning after Reuters reported that Visa (NYSE:V) is to begin allowing the use of cryptocurrency USD Coin to settle transactions on its payment network.

The programme has been launched with crypto platform and Visa said they plan to offer the option to more partners this year.

USD Coin
The USD Coin is a digital stablecoin whose value is pegged directly to the US Dollar and runs on the Ethereum blockchain. Each USD Coin is backed by a US Dollar held in reserve. As of March 26th, 11.0bln USD Coins were in circulation, according to Circle, the founder of USD Coin.

“We see increasing demand from consumers across the world to be able to access, hold and use digital currencies,” said Cuy Sheffield, Visa’s head of cryptocurrencies. “And we’re seeing demand from our clients to be able to build products that provide that access for consumers.”

The announcement by Visa will remove the need to convert digital coins into traditional money for a transaction to be settled.

Corporate moves into crypto
The latest news from Visa follows its largest competitor Mastercard Inc (NYSE:MA) also announcing a foray into the digital asset space earlier this year.

In February, Mastercard announced they would start supporting select cryptocurrencies directly onto their network this year.

“We are here to enable customers, merchants and businesses to move digital value — traditional or crypto — however they want,” said Mastercard in a statement.

Other companies, including Bank of New York Mellon (NYSE:BK), PayPal Holdings Inc (NASDAQ:PYPL) and Tesla Inc (NASDAQ:TSLA) have also announced plans regarding digital assets.

Last week, Tesla said they would be accepting Bitcoin as payment for vehicles after previously announcing a $1.5bln purchase of Bitcoin to diversify their reserves. Tesla’s CEO Elon Musk also confirmed the electric vehicle maker would not be converting Bitcoin used as payment into fiat currency.

Source – Investing News 

Bitcoin market cap is back below $1 trillion as market correction deepens

Bitcoin market capitalization back below $1 trillion as correction deepens

As Bitcoin markets begin to form another daily red candle, its market capitalization has dropped back below $1 trillion once again.

The third major correction in the current bull market is deepening and prices are already down 12.5% from their all-time high of $60,100 on March 13.

According to CoinGecko, the BTC market capitalization is currently $980 billion, having dropped $140 billion over the past seven days since last Thursday, March 18.

The move comes just a few days after analyst Willy Woo predicted that its total capitalization would not fall back below these levels again.

“$1T is already strongly supported by investors. I’d say there’s a fair chance we’ll never see Bitcoin below $1T again.”
The BTC market cap first surpassed a trillion dollars on Feb. 19 but did not remain there long, falling back below it after just four days. The second time it topped ten figures was on March 9, and it remained above the milestone level until today’s slump.

The total market capitalization for the entire crypto ecosystem is currently $1.65 trillion according to CoinGecko. It has fallen by 9.8%, or $180 billion since Monday, March 22.

Profit taking could be a big factor in this pullback, as suggested by analyst Josh Rager who stated that unrealized profits are not realized until they are in the bank.

In reference to MicroStrategy CEO Michael Saylor whose firm has been buying a lot of Bitcoin this year, he added:

“Don’t try to act like Saylor won’t take profits eventually, cause he will along with every other fund on the planet. Then they’ll buy back lower”
As reported by Cointelegraph, there have been a number of signals that the pullback could continue. Analytics provider Glassnode used the risk reserve metric, which assesses the confidence of long-term holders relative to the price of Bitcoin, to suggest conditions are similar to the second half or later stages of a bull market.

CryptoQuant, meanwhile, analyzed BTC flows to and from exchanges to predict that it would take some time to get another leg up in terms of demand/supply.

At the time of writing, Bitcoin was trading down 3.6% on the day at $52,350 as the FUD begins to seep back into the ecosystem.

Source – Coin Telegraph News

Environment, social and govt concerns to crime: Bitcoin’s dark side draws scrutiny

Environment, social and govt concerns to crime: Bitcoin’s dark side draws scrutiny

Bitcoin has enjoyed a blistering rally since last fall, but that ascent has also renewed attention on environmental, social and governance concerns surrounding the world’s most popular cryptocurrency.

Bitcoin’s latest rally to another all-time high north of $60,000 may have lost some steam this week, but its blistering ascent since last year has reignited concerns about the toll Bitcoin is taking on people and the planet.

In the United States, President Joe Biden’s administration has voiced concerns over Bitcoin’s role in money laundering, the potential fallout of financial speculation, and Bitcoin’s environmental impact.
In China, where more than half of new Bitcoins are mined, the vast amounts of energy required to do that are at odds with Beijing’s climate goals, prompting a crackdown by authorities.

Unlike fiat currencies (such as US dollars, euros or yen), Bitcoin is not controlled by a government or central bank, nor does it require a middleman to verify transactions. It is, by design, decentralised.

Instead of a bank, transactions made with Bitcoins are verified by a global, decentralised network of computers (aka mining rigs) that race to verify blocks of transactions to add to Bitcoin’s blockchain – a public ledger. The winner is rewarded with new Bitcoins.

Mining rigs are composed of very powerful computers, sometimes thousands of them, labouring in unison to solve complex math problems. That requires a lot of energy.

Bitcoin proponents argue that it is being held to an unfair standard, arguing that the vast financial systems that undergird fiat currencies consume far more resources than cryptocurrencies do.

But that has not stopped some governments from taking action to rein in Bitcoin’s carbon footprint.

Source – Aljazeera News 

How understanding cryptocurrency terminology can lead to huge profits

How understanding cryptocurrency terminology can lead to huge profits

Cryptocurrencies have become increasingly popular over the past several years; according to Investopedia. there are over 4000 coins as of January 2021 and the number is constantly growing.

Bitcoin took on global prominence in 2009 when it first came into use but today a lot of people still do not understand what it is, how it works and how it can be used to make a profit.

Bitcoin was founded in 2008 under mysterious circumstances and it has taken us on a roller coaster ride of epic proportions and created many “new rich” in the process.

Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services.

The first step to becoming a successful cryptocurrency investor is to gain a fundamental understanding of the terminology used in the cryptocurrency market (crypto space), this becomes relevant when carrying out your research on various coins and block chain technologies; In conducting your research you can use various sources such as YouTube videos or reading news articles on the subject.

We recommend you invest in projects that solve world problems and have long-term futures. For example, VeChain (VET) project which enables manufacturers and other participants to track the movement and provenance of products in a supply chain.

Once you have decided on the coins to invest in, you will need a digital wallet to store them in. A good knowledge of the various types of digital wallets you wish to store your investments (digital coins) will help you decide on the best wallet to use (refer to the terminology page for the various types of wallets).

There are three ways to make money from cryptocurrencies, the first is by holding (HODL) them in storage (digital wallet) and let the coins appreciate over time, the second is to trade your coins on an exchange. For a short list of reputable digital wallets & exchanges.

Finally, you can invest with cryptocurrency traders who trade with your investment on exchanges and offer you a daily return on investment. An example of this is PGI Global that guaranteed income on investment ranging from 0.5% to 3% in daily commissions. Register here start earning passive income.

MTX Crypto Coins offers the latest news in the cryptocurrency market, highlights potential ‘money making’ coins based on market cap, volume and future potentials. We also present the latest partnerships in cryptocurrency projects involving big corporations such as Amazon, Apple, Google and more.

Author – Ken Uwotu, Blogger/Crypto Analysis

Source – International Business Times

Banning Bitcoin is like rejecting the US dollar, entrepreneur warns India

Banning Bitcoin is like rejecting the US dollar, entrepreneur warns India

An Indian cryptocurrency ban would have grave implications for the future of the country’s economy, and would result in currency devaluation “of the worst form,” says blockchain entrepreneur and HashCash CEO Raj Chowdry.

Chowdry, also the managing director of the United States-based PayBito cryptocurrency exchange, said India’s rejection of Bitcoin (BTC) and other cryptocurrencies would be the equivalent of rejecting the U.S. dollar. Without regulating and eventually adopting cryptocurrency as a reserve currency, Chowdry believes India’s economy would suffer in the long term.

“Maintaining Cryptocurrency reserves are as important as maintaining dollar reserves. By banning crypto, India will end up with the lowest reserve of the most important currency the world has ever seen. This would eventually lead to a currency devaluation of the worst form,” he said.

The fate of cryptocurrencies in India looked ominous after an anonymous official leaked information regarding an upcoming ban to Bloomberg in February. Crypto holders were expected to be given a three to six-month window to transfer their funds back into fiat.

However, recent noises coming out of the Indian Finance Ministry suggested the situation wasn’t quite so clear-cut. Finance Minister Nirmala Sitharaman said reports of a blanket ban on cryptocurrencies had been overstated, and that discussions were ongoing with regulators inside the Reserve Bank of India. Sitharaman added that any upcoming regulations wouldn’t be as severe as previously depicted.

Chowdry welcomes regulations and taxation of cryptocurrencies if it means related business and enterprise can flourish within the country. The alternative is to deprive Indian startups who have already gained a global foothold of the opportunity to grow, Chowdry said.

“What India needs is acceptance of crypto with the imposition of taxation and regulations, that will earn revenue and benefit the huge number of investors and Indian startup companies who have gone global within a short period, rather than depriving the people of their choice of investment by adopting a naive approach towards the crypto,” he said.

Amid the back and forth, the Reserve Bank of India continues to push forward toward the issuance of a central bank digital currency. As with all sovereign states, India’s apparent determination to launch a blockchain-based digital rupee suggests its issues with cryptocurrency aren’t related to the underlying technology, but only who gets to control it.

Chowdry believes a measured approach can be taken to distinguish between blockchain as a technology, and cryptocurrency as an asset class.

“These are two distinct and diverse threads that may be accepted independent of each other. While blockchain is a technology, cryptocurrency is an asset class. It should not be difficult to implement the two in their respective domains,” he said.

Despite what many fear to be a regulatory ticking time bomb in India, global cryptocurrency exchange Coinbase recently announced that it would move some of its IT services to India, as the company edges closer to its upcoming IPO.

Source – Coindesk News