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The State of Cryptocurrency in Africa

On the global index of the acceptance of cryptocurrency by continents, Africa sits just a place away from the continent at the bottom, but the problem is that Antarctica is inhabitable. So Africa is in fact the continent with the least popularity of cryptocurrency. On the world scale, there are over 2000 cryptocurrencies and every single day, more coins are still being created. But only few of these currencies are in Africa, with the most popular ones being Bitcoin, Litecoin, Ripple, Ethereum and Dash.
If there is anything that has hindered the general acceptance of cryptocurrency in Africa, it has to be the volatility of the market. It can be generally said that changes in prices that the average American or European might not see as significant means a lot to an African. For example, a US dollar is an equivalent of 360naira (Nigerian).  During the first week of 2018, Bitcoin traded at $20,000 USD, and there were a lot of bullish prediction on this coin, with some self-acclaimed prophets predicting $75,000 in value. We all know what happened to Bitcoin about a week later. By the end of 2018, Bitcoin had experienced what is now called crypto winter, trading at %3,700 USD. All these figures are a lot of money for a continent with a lot of people living below a dollar per day. So yes, the mass cannot afford to put in money into cryptocurrency, and even if they could, the volatility of digital currencies scare them. But then again, who isn’t scared?
This does not mean that there is no prospect for digital currencies in the continent. As a matter of fact, some countries in the continent are working on owning cryptocurrency assets and Bitcoin ATMs are now in countries like South Africa. To get a clearer picture of the state of cryptocurrency in Africa, I will now proceed to analyze headlines that are currently making the rounds.

Africa Countries and Digital Currency

 
There are 54 countries in Africa. Out of these countries, South Africa and Swaziland are leading on the acceptance scale. South African seems to be ahead of every other country in terms of acceptance as it is the only country that has Bitcoin ATMs installed. Also, with its unrivalled technological advancement in relative to other African countries, the country is currently host to various cryptocurrency and blockchain start-up projects.
Senegal and Tunisia as sovereign states are recorded to be the earliest adopters of cryptocurrencies. In 2015, Tunisia started issuing the world’s first institutionalized digital currency; eDinar. Although the digital currency has not made the waves that it was expected to have, it is a proof that the government of the country, and the citizens as a whole are aware of the importance of digital currency. Senegal on the other hand issued eCFA in December 2016, a digital currency equivalent of CFA franc, the national currency of the country.
Most of the east countries in Africa seems to be on reserve. Rwanda for example is said to be carrying out research on the potentials of cryptocurrencies and how they could harness these potentials. But in general, most of the governments and central banks in Africa have so far taken the ‘wait and see’ stand as regards cryptocurrencies. It is almost like they are waiting for their European or America counterparts to experiment first before they can join the bandwagon. If there is anything we know Africa for, it is the fact that they do not like failure.

Africans and Digital Currency

 
Bitcoin is the most popular among Africans. It is said that cryptocurrency is not a term in Africa, they rather stick to Bitcoin as the generic name. Although the exact amount of holders of cryptocurrency cannot be ascertained, data from top exchange companies places it above three million holders. Out of these holders, South Africans and Nigeria are the leading holders.
There has been crypto projects that are targeting the unbaked in Africa, among many other projects like the healthcare crypto projects, logistics crypto projects and a whole lot more. If there was any reason why cryptocurrencies were appealing to Africans, it has to be the general perception that it was an unregulated cryptocurrency, totally independent and free from Government interference. But as it stands, the future of cryptocurrencies seems to be gearing towards regularizations by top exchange and security companies. However, this might not in any way affect the investors in Africa. The acceptance is on the rise, and the future looks bright.

Becoming rich as a student through Cryptocurrency

Since its inception in 2009, the cryptocurrency market has created a lot of millionaires. Introducing the world to new set of technology that poses a threat to the traditional way in which we handle financial contracts. But digital currency in itself is not different from the traditional investment schemes like stocks and bonds. In fact, it has been proven to be a more unstable and volatile when compared its alternatives. Hence, the general opinion that it is a get rich quick scheme is not true. However, this does not in any way change the opportunities that exist for investors. Just like every other commodity, everybody with the right money can invest in it; including students.
So, how do you leverage these opportunities as a student to become rich?

  1. Buy/Trade a Cryptocurrency

 
As a student, your first option to getting rich trough cryptocurrency is by buying or trading in cryptocurrency. You have to own it before first. I know that students are laced with academic expenses and all that, but nobody got rich in investing without making sacrifice. You can start by investing your pocket money, or the little change you get when you do part-time work. There are a whole lot of exchange platform in which you can buy cryptocurrencies even in their smallest fractions. One of them is Coinbase, an exchange platform with a top notch user interface. It is unarguable the best exchange for starters in crypto buying and trading.
Now, when you buy cryptocurrency, you have to hold it till it appreciates. Or sell it when it is depreciating. But we all hope for appreciation, so you have to start by investing in cryptocurrencies with high prospects. However, you need to be careful as cryptocurrency is a volatile commodity. Heed to the number one advice in investment; do not invest more than you can afford. As a student, chances are you might not be able to invest much in cryptocurrencies in the top market index. You can start like the current Bitcoin and Ethereum millionaires started; by investing in initial coin offerings (ICOs).
Crypto projects raises capital for their tokens through the use of ICOs. They sell these tokens at a very low price, most of which are at no cost. After this, it begins to appreciate or depreciate. If you pick the right project ICO, changes are you can make over 1000% profit of your investment in a matter of months.

  1. Accept Payment in Cryptocurrency

 
Do you have things to sell? Are you currently working for someone? Are you being pad to tutor other students? Accepting cryptocurrencies for payment is a sure way to be holders. However, you have to take note of the currency that you are accepting. It is advisable that if you must accept payment, it should be with the cryptocurrency projects that are on the top five of the market capitalization list. Imagine a student that was accepting payment in fractions of Bitcoin over his stay in school for whatever part-time job that he was doing in 2014. Chances that he would own about 20 Bitcoins by the end of his stay in school are high. And then when you consider the bullish rise in Bitcoin during the years that follows, you will know that 20Bitcoins is a whole lot.
With a little research, you can find buyers and employers that are willing to pay and make transactions with cryptocurrencies. Your job however is to determine what the service you are offering will cost and its equivalent in the cryptocurrency that is being used for the transaction. You can also sign up for competitions that rewards with cryptocurrencies.

  1. Blogging

 
There are millions of people out there looking for the right information that regards cryptocurrency. Ethereum founder, Butterin was a blogger before he started his company. I am not suggesting that you become a blogger to build your own company; rather I am saying that blogging can make you rich with the right content. Owning a website and blogging requires little or no investment apart from your time and dedication.

  1. Start a Crypto Project

 
Yes! Ethereum is among many other cryptocurrencies that had their beginning stages rooted in when the eventual founders were students.  With the recent boom in ICOs and dApp platforms, launching your own cryptocurrency on an established blockchain like Ethereum has become easy. Now we have crypto coins in the healthcare sector, in agricultural sector, the educational sector and even the governmental bodies are not left out in it. Although we have to agree that being rich should not be your first concern when starting a cryptocurrency project. You could also start an exchange company you know?
There we have it, my super list of how to get rich through cryptocurrency. As established earlier, cryptocurrency is not a get rich scheme. Do not invest what you can’t afford to lose.

Top Crypto Investments That Will Yield 1000% by 2025

What will cryptocurrency be in the future? What will your crypto investments worth in about 6 years from now? In no particular order we will discuss the features & future of some “currently” top cryptocurrencies. And in no particular order our first cryptocurrency will be:
 

ZCASH

 
Its genesis dates back to 2013. Zcash was formerly known as Zerocoin and was invented by a team of scientists; Matthew Green, Ian Miers, Christina Garman, Aviel D. Rubin
Zcash (ZEC) is another Crypto currency like bitcoin but with a few different features. Just like Bitcoin, it is based on a decentralised blockchain but allows for anonymity behind all transaction amounts and the parties involved. In Bitcoin if you know someone’s address you can follow their transactions and you can see all their addresses and their transaction amounts. Its quite clear how much money is moving around, with ZCash all the information is encrypted.
 
Yes! Zcash has caused a lot of controversy with its cryptocurrency distribution methods but this is because the organisation is not set up as an open source community but as a Company. This is the first major difference between ZEC and other cryptocurrencies such as the ethereum. Another very distinct difference is how they plan on rewarding  investors and workers in the Company. They plan on doing this by a tax on mining rewards called “Founders’ reward.”
 
Currently, the Zcash is at about $449 but experts believe that Zcash has the potential to fill the void left by the declining off-shore banking sector and to gather much more persons across different financial backgrounds into its fold and not only wealthy elites. Some perosns have even posited that the Zcash price would reach $6,289 at only one percent of the global off-shore wealth. That alone is an over 1000% increase from its current price level. Following this predictions, the Zcash could reach a peak of about $62,293 or more by 2025.
 

DASH

 
Rated as the 15th most valuable cryptocurrency, DASH brings alongside lots of promises; it is noteworthy to mention the fact that Dash is not subject to the pressure of mining cartels or feuding core developers and this goes to show that its appreciation could as a matter of fact, stabilize in a couple of years. We believe that DASH would receive more acceptance in the 2020 and upwards especially for peer-to-peer transactions such as money transfers. We also believe that if DASH’s superior blockchain makes it easier to carry out transactions, it could see its price going up to the $1,000 range. As we know, one of the most interesting feature of the DASH coin is its ability to transfer funds to prepaid debit cards with much more ease as compared to other cryptocurrencies. For 2025, if the DASH coin can continue to be an investment commodity and enjoy greater circulation and stability, we certainly will see the DASH coin reach a high of over $1,500. That would be over 1000% of its current price level.
 

ETHEREUM

 
Ethereum was invented by Vitalik Buterin and is known to run on smart contracts and accelerates hash time and consequently reduces processing time for transactions. The smart contracts enabling system of Ethereum has been widely accepted and adopted. It is now the second most valuable cryptocurrency and its popularity is expected to increase as it becomes adopted by more and more persons.
If we were to assume that both bitcoin and ethereum represent half the worth of the crypto market each having 25% (1,137,500,000,000), and then we divide this amount into 100,000,000 (the maximum amount of Ethereum to be in circulation) we will find the value of one Ethereum to be $11,375. However, on the long run like in 2025, most experts believe that the value of ethereum will be $30,000 seeing that ethereum is for a non-profit initiative; and that Ethereum is regulated by the forces of demand and supply and the demand for Ethereum is steadily increasing. So by 2025, citeris paribus ethereum will be 1000% more than its current value now.
So there you have it. That’s our list of top cryptos that will yield 1000% and more, though we know that other cryptocurrencies can yield good investments within the said period, but this post solely focuses on those crypto investments that would increase the yield by over 1000% more.

Why You Should Invest In Japanese Cryptocurrencies

The bullish rise in value of the cryptocurrency economy in 2017 was recorded to have been majorly influenced by countries from Asia. China for example was the biggest player in the Bitcoin market as it controlled 80% of the global trade volume of the creation of Satoshi Nakamato, but that was before the Chinese government started cracking down on digital currencies as a whole. If you can recall, you will be familiar with the famous ban on ICOs by the country which also triggered the closing of the biggest cryptocurrency exchange companies in the country. This led to China forfeiting their number one position, thereby giving other countries within the Asia continent to shine. Countries like Singapore, Indonesia and South Korea have cryptocurrency economy that is worth watching out for currently, but Japan among these countries has emerged as the next force.

World Power Status

Japan is an emerging world super power. Its national currency (Japanese Yen) in the cryptocurrency market is currently the second most traded currency, trailing just after the US dollar which is number one. As at January 2019, the Japanese Yen accounted for 57% of Bitcoin, and US dollars accounted for 28.4%. It is thus clear that although the US dollar is the overall leader in cryptocurrencies, Japan has overtaken China as the global leader in Bitcoin market. In April 2017, the government recognized Bitcoin as a form of payment. It then gave approval to about ten cryptocurrency exchanges companies to operate. The country even has a themed girl group called ‘The Virtual Currency Girls’. The Virtual Currency Girls is an eight member group whose members are representatives of eight different cryptocurrencies. All these developments are not as a result of chances; rather they are as a result of the approach in which the Japanese government has adopted in their dealings with cryptocurrencies. It is the first and only country which an institutionalized legal system that is regulating the trading of cryptocurrency, hence it provides the safety needed for investors who have nurtured concerns on trustworthiness of exchange companies.
 

Embrace of Cryptocurrency by Government

In macroeconomic terms, the embrace of cryptocurrency makes sense. Japan has taken time to recover from its so-called ‘Lost Decade’ of economic stagnation. Its relatively low growth and high savings rate make cryptocurrency an attractive option. While a trailblazer in tech development, Japan and its authorities are notoriously conservative when it comes to financial innovation. The government’s forward-looking attitude to virtual currencies may in fact be a reaction to that. The use of blockchain has given Japan an opportunity to shake things up a little and push local banks into more aggressive development. At the same time, the state’s proactive approach to regulation is also a way to keep crypto trading under centralized control.
Since the legalization, Japan has enjoyed what seems to be an endless cryptocurrency boom, with massive yields in retail investor interest and over-the-counter (OTC) services. Trading is not just their strong points as their trading companies are some of the best in the world; the country has also been a destination for testing of blockchain innovations. It is a general saying that most crypto currency start-up companies have higher chances of surviving through their first year if they have their market in the Japanese cryptocurrency market. They’re not just making strides when it comes to trading. Japan is also becoming an important testing ground for blockchain innovation. For example, the Japanese government in a bid to demonstrate their support for blockchain and cryptocurrency gave a go ahead for the partnership of Hitachi and Tech Bureau to build a blockchain system that runs on NEM-based Mijin Blockchain platform.
Currently, the issuance of ICOs is currently banned in Japan. And due to the regulation of the exchange companies in the country, the numbers of crypto coins that are traded in the market are limited. However, some of the top cryptocurrency companies in Japan include Coincheck, Bitflyer, Ginco, BitPoint, Tech Bureau and a host of others. Experts say that the best is yet to come for cryptocurrency in Japan as there are a lot of cryptocurrency projects that are being generated. With such backing from the government and a willing customer base reach, one cannot deny the fact that investing in Japanese cryptocurrency market is a gold mine.

HOW IS BINANCE FAIRING TODAY?

While Binance is one of the newest cryptocurrency exchanges available in the crypto market, it has quickly attained a high level of trust from its users and the digital currency community as a whole. Although the exchange fails to provide users with enough information on how the funds are being secured, we like to believe that security is treated on a serious note. The two-factor authentication (2FA) is available and it is always a reaffirming sight. It is however known that the platform offers a multi-tier system architecture.

Setbacks

Some hackers tried to pull off an audacious move which was detected by the automated systems in place at the exchange. For months the hackers had been said to be accumulating people’s logins via a phishing website and secretly installing API access on the affected accounts. After which they struck, converting all the victims’ altcoins to BTC and purchasing Viacoin, pumping the coin to a huge price and then selling their own supply of Viacoin at the high point. After which they withdraw the BTC to their own wallets. Luckily no one lost funds as the hack was detected on time and the only people to lose out were the hackers, whose funds would be donated to charity.
 
This hack was made possible by people entering their site logins and 2FA details into fake websites. Please, do well to always make sure you are on the correct Binance url before logging in. I recommend you bookmark the site and only use that to access it. Never click links from emails, Twitter, Telegram etc. As always, take safety precautions such as using a unique password for signing up, switch on 2-factor authentication and try not to hold a large balance on the exchange itself for too long – remember to withdraw your currencies to your own private wallet.
 

Aftermath

Nonetheless, this event has done a lot to instill confidence around Binance, not only did their automated processes detect the attempted hack before anyone lost any funds, they have since offered a $250,000 bounty to anyone who can help catch the hackers. Throughout this event, Binance acted exemplary and has been praised for their swift action in resolving this.
 
Binance is a popular cryptocurrency exchange which was started in China but moved their headquarters to the Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. While the company is still fairly new on the market it has managed to gain a lot of popularity thanks to its impressive number of Initial Coin Offering listings, professional attitude and also due to its low trading fees.
 
Recently, Binance began plans to launch their own Decentralized Exchange (DEX):The BNB digital asset is now an ERC-20 token, which will migrate as the native token of that network and be used for paying the trading fees on the new exchange
More to that is the fact that BINANCE is partnering with Neufund to build the world’s first Decentralized Stock Exchange. Alongside the Malta Stock Exchange, they are aiming to create a regulated and decentralized, global stock exchange for listing and trading tokenized securities alongside crypto-assets.
 
On the 16th of January 2019, Binance announced the launch of a new Fiat to Crypto exchange named Binance Jersey. The trading platform is live and active and allows you to trade in fiat currencies such as euros and pound sterling, with Europe being their target market.
Currently, it is one of the fastest exchanges available in the market (1.4 million orders per second). Additionally, the exchange works on all forms of devices, including web, Android, WeChat, and HTML5. Even Non-English speakers will be happy to know that Binance offers multiple-language support in Chinese, English, Korean and Japanese.
 
Based on everything that has been outlined so far, Binance is undoubtedly the leading Cryptocurrency Exchange and offers great fees and awesome digital currency support. Not only do they have one of the largest selections of coins to buy, but they are also the largest exchange by reported volume. Binance reportedly has access to abundant resources and partners, chances are that Binance will continue to evolve and offer great digital currency exchange services to its clients. We are happy to recommend Binance and have added it to our list of the Best Cryptocurrency Exchanges.
Moreover, they are well regarded in the cryptocurrency community for professionalism and security. While hackers have tried on countless occasions to breach their systems, they have remained one step ahead.

Top 5 Countries with the Highest Crypto Investors

The technology behind blockchain and cryptocurrency is built on a trustless platform. Hence it is a web transaction that cannot be traced, and we cannot know the exact amount of investment that individuals have. Most people believe the amount of crypto coins available today is a hoarse. They believe that cryptocurrency funds, exchange and mining firms play the role of whales in the industry, capitalizing on the trustless platform of the technology and using it to control small investors.
While there are whales in some cryptocurrency projects, it is not true that exchanges and mining firms play the role of whales in the market. And what better way to know than to check their user base data. Most of these exchange and mining firms have data like country and IP address of their customers. And from these data, one can conclude that through the collective investment in cryptocurrency by residents of different countries, they have placed these countries on the map. Even though cryptocurrency still have a long way to go in terms of global acceptance, one cannot deny that these investors are have contributed to the level that we are in today. I have taken my time to write about the top 5 of these countries.

The United States

The United States is home to a lot of cryptocurrency exchanges, mining firms, trading platforms and blockchain oriented companies. It is also the number one country on the global scale of the installation of Bitcoin ATMs with over two thousand (2,000) Bitcoin ATMs installed as at December 2018. All these activities and endeavors could only mean one thing, the American population accepts cryptocurrency. Well, it depends on what we mean by population though, because only 8% of the American population is said to be holders of Bitcoin alone. This of course is a big deal, considering the population of Uncle Sam’s country.

China

If there is anything on cryptocurrency that China has been in the news for, it is the constant crackdown on cryptocurrency activities. But that is just the story of the Government of the people of China as the country is still one of the leading countries in terms of digital currency trading. It some of the world’s leading exchanges and the citizens in this country are known for their mining activities. It is generally believed that most Chinese miners tend to move their residential houses and offices closer to power plants because it is cheaper in terms of cost to mine cryptos. Also, recent trends reveals that Chinese government are working on various blockchain technologies, one cannot tell if the crackdown will continue, but the investors will definitely reduce if it does.

Romania

Romania is home to numerous programmers and developers who are mostly freelancers. It also plays host to many firms and businesses that are big players in the IT industry. It therefore won’t come as a surprise to anyone that it has a lot of investors. About 12% of the residents of Romania are said to be holders of at least one cryptocurrency, and guess which cryptocurrency is the most important… Bitcoin.

South Korea

South Korea is the second Asia country on this list. Unlike China, the government of South Korea is not hostile towards cryptocurrency. Most people say that the crackdown of China on cryptocurrency caused the drift of investors from the country to South Korea. South Korea is a country with eyes for the technological company, hence it plays host to lots of exchanges and cryptocurrency businesses. Most of the exchanges in South Korea are restricted to the country alone, this means that there are enough investors. As always, Bitcoin is number one on the list of the most held cryptocurrency in this coutry.

Japan

There is a large number of acceptances of cryptocurrency in Japan. It is one of the few countries that has recognize cryptocurrencies as an institutionalized means of payment. This has in some ways increased the number of investors in this country as there is little or no restrictions that stops them from engaging in cryptocurrency market transaction within and outside the country. The exchanges in Japan are known for the swiftness in which they process transactions.

CRYPTOCURRENCY TAXATION

The truth remains that most people barely know anything about either of these topics. Moreover, the two subjects represent two vast opposites terms from a cultural perspective. And in the eyes of many persons, tax law represents excessive regulations laid down by the central government agency, which are imposed on its subjects. This is in itself is a contrast to cryptocurrencies and the associated blockchain technologies which stand for a decentralized, unregulated and free society not under the control of a central power apparatus. More exacerbating is the reality that the complexity of these two spheres increases.

Where is it taxed?

The taxation of cryptocurrency varies from place to place. For example, in the United States, cryptocurrency is treated like real estate instead of being treated as a currency – it is treated as a property. It is also treated as a commodity like gold in some cases, and therefore it is subject to both the short-term and long-term capital gains tax. In most cases, it is regardless of whether it is used for the purchase of goods/services or for trading/investment.
On the other hand, countries in Europe follow a decentralized approach to the regulation of cryptocurrency. The United Kingdom treats Bitcoin like a foreign Currency. In Germany, if Bitcoin investments are held for less than one-year, German income taxes will apply. In Germany, income taxes are progressive and can be up to 45%. Even in Switzerland, cryptocurrency taxes are levied. This implies that Swiss residents will have to pay income tax, profit tax, and wealth tax on their cryptocurrency holdings.
However though, in just about all European countries as well as in Liechtenstein and Switzerland, the sales of cryptocurrencies are exempt from the Value Added Taxes.
 
A special feature in Liechtenstein is the integration of tax on wealth into income tax, as well as the principle that a source of income is either subjected to wealth tax, or to income tax. This helps to prevent double taxation. This means that every natural person with unlimited tax liability will have to declare holdings of cryptocurrencies at the beginning of every fiscal year and convert the values to their Swiss franc equivalent. More so, speculative gains from trading in cryptocurrencies are tax-free and do not necessarily have to be declared. This is not only very attractive in terms of the tax burden, but provides significant administrative relief as well.

Guidelines

As seen from the official IRS guidance, 2014; we understand that:

  • Trading cryptocurrency to cryptocurrency is a taxable event
  • Trading cryptocurrency to fiat currency like the dollar is a taxable event
  • Using cryptocurrency for goods and services purchase is a taxable event
  • Gifting cryptocurrency is not a taxable event the recipient will inherit the cost basis. The gift tax still applies if you exceed the gift tax exemption amount.
  • A cryptocurrency wallet-to-wallet transfer is not a taxable event as you can transfer between wallets or exchanges without realizing capital gains and looses, so make sure to check your records against the records of your exchanges as they may count transfers as taxable events as a safe harbor),
  • Also buying cryptocurrency with USD is not a taxable event. As you don’t realize gains until you trade, well or make use of your crypto. If you hodl longer than a year you can realize long-term capital gains they are about half the rate of short-term capital gains if you hold less than a year you realize short-term capital gains and losses.

It is therefore established that anything other than buying, holding, or transferring a cryptocurrency is a taxable event and this means you realize capital gains and losses at fair market value at the time of the event when you trade, sell, or use crypto.

How to pay

You’ll need to be prepared to pay capital gains taxes thus you will need fiat currency at tax time.
For the average Bitcoin user;

  • If you trade cryptocurrency for a good or service, it is important that you keep record of the transactions and report a fair-market value of the currency at the time of the transaction.
  • For times cryptocurrency is traded as a capital asset, either for another cryptocurrency or fiat currency (like the US dollar), you would need to keep a record and report all those transactions by using the fair-market values of cryptocurrencies in situations where one cryptocurrency is traded for another. Also, at the end of the year, you would need to report all cryptocurrency transactions and all the related gains and losses. You would then pay taxes accordingly (based on your total gains).

Cryptomedia News this week

We have come to the end of another week and as usual, we are bringing to you five profound news articles that caught our attention this week. Enjoy them below.

Cryptocurrency influencers are even worse than normal influencers

 
Cryptocurrency, which has long suffered from a branding problem, can certainly benefit from the seeming legitimacy celebrities bring, but it goes without saying that a dodgy partnership can directly impact the market and in turn, peoples’ virtual wallets.
Enticed by generous paychecks, celebrities may enter into an endorsement deal for reasons other than money. They may genuinely love and believe in the product, it may align with their own personal brand, but unfortunately, they repeatedly fail to understand what they’re endorsing.
Personal comment- I believe the message that is contained within this news is very self evident if you ask me. There are a whole lot of people who engage in investment due to the allure of the influencers. You see the face of your favorite celebrity and you immediately think the investment is the right one for you. This news simply reminds you of the need not to be gullible. Rather, make informed choices after removing personal sentiment.
Source: https://thenextweb.com/hardfork/2019/02/14/cryptocurrency-influencers-are-even-worse-than-normal-influencers/

Survey Finds Jump in Crypto Institutional Investment Over Next Five Years

 
According to a survey conducted by the Global Blockchain Business Council (GBBC) and shared with CoinTelegraph, a whopping 41 percent of polled institutional investors believe they will be entering the Initial Coin Offering (ICO) sector within the next five years, with 16 percent saying it would happen with the next three years.
Personal comment- While I am usually the one to scream that this is a very good news for the Cryptocurrency industry, I think this news is giving me more concern than necessary. More ICOs usually means more opportunities to invest in better causes but it also opens up the world of scammers who are intent of making way with people’s hard earned cash. You should be on alert this time more than ever and watch out for all those bogus offerings that are subtle means of scam.
Source: https://ethereumworldnews.com/cryptocurrency-institutional-investor-2019/

Crypto Nightmare: This Brazilian Investor Just Accidentally Bought Bitcoin at $20,000

 
Every crypto investor’s worst nightmare came true for one Brazilian trader, who accidentally bought bitcoin at a massive premium.
At one point, he bought 0.0047 BTC for 340 Brazilian reals, worth about $91. At press time, said amount of bitcoin is worth less than $15 on other exchanges, meaning at the rate he paid for a full bitcoin would’ve cost him the equivalent of over $19,400.
Personal comment- I must admit that I almost laughed when I read this news. However, I became sober with the realization that this could happen to anyone, including me. It is quite unfortunate however that this happened because it could have been stopped if the Investor had taken more precaution. Please listen up, do not ever make investment decisions without checking about it all along the way. If you are a little skeptical and not too versed, call up a friend of yours and verify. There is no shame at all in calling up someone, after all, it is your money. This was a really dark news that propped up this week.
Source: https://www.ccn.com/crypto-nightmare-brazil-bitcoin-20000

Ripple’s Brad Garlinghouse Explains Why He’s Not Scared of JP Morgan’s ‘Bank Cryptocurrency’

 
Multinational banking giant JP Morgantook an idea made famous by Ripple Labs (and other public crypto projects) – that blockchain can conduct cross-border transactions more swiftly than traditional interbank settlement system SWIFT – and rebranded it. To that end, the firm replaced Ripple’s distributed ledger with an Ethereum-inspired Quorum blockchain and XRP token with its new stablecoin, JPM Coin.
Personal comment: I brought this news out because of people who are closely watching out for Ripple. This piece of news may seem to be one that is very devastating at the first look, however, Ripple seems to be in a better place to bounce back and still retain the trust of investors.
Source: https://www.ccn.com/ripples-brad-garlinghouse-explains-why-hes-not-scared-of-jp-morgans-bank-cryptocurrency

Ethereum Has Shot Past Ripple’s XRP In The Cryptocurrency Rankings–Here’s Why

 
Ethereum, the decentralized app network and cryptocurrency rival to bitcoin, has continued to climb after last week’s sudden market pump, overtaking Ripple’s XRP digital token to reclaim the number two spot in the list of the world’s largest cryptocurrencies by market capitalization.
The ethereum price has surged some 3% over the last 24 hour period to over $120 per ether token, according to the latest CoinMarketCap prices, as ripple (XRP) remains flat and the wider market holds onto its gains from late last week
Personal comment- Ethereum seems to be making great gains ever since February started and I believe that it would continue to maintain its steady growth. Though it is highly in doubt that it would ever match its all time high, Ethereum would still continue to remain. This should give the investors a little comfort.
Source: https://www.forbes.com/sites/billybambrough/2019/02/11/ethereum-has-shot-past-ripples-xrp-in-the-cryptocurrency-rankings-heres-why/#6cbec18727c4

HOW TO OPEN A NEW ACCOUNT ON OkEx

What is OkEx?

OKEx is a digital currency exchange with origins rooted in China. The exchange is a branch of OkCoin and it is geared towards more of professional traders than the ordinary trader, so if you are a beginner, this might be a tad bit difficult for you. OkEx offers a wide range of crypto pairs, making it an exchange with great advantage for traders. OkEx was founded in 2011, and it has since its inception become one of the top exchange platforms in the world in terms of volume of transactions. This implies that the exchange company has high liquidity in most of the trading pairs that it offers. It is also known for low trading fees which range from 0.03% and 0.15%; depending on the value involved. This makes it a preffered option when considering the cost of trading digital currencies. To cap it all, it is one of the few exchange companies that supports a desktop platform that is fully independent.

Opening a New Account

As established earlier, OkEx is more of a exchange platform for professionals. The steps given in this article might look strange but in all, it has been simplified in such a way that even a beginner in the trade can open account.

Step 1 – Visit www.okex.com


The homepage of OkEx is as shown above. It is advised that you bookmark this site on your browser for easy reference. Also, there have been reported cases where traders lose huge amount of money, just by missing an alphabet in a web address. Also, never click on unauthorized emails from this site. On the top right of the homepage is the ‘Sign Up’ button. Click on the button.

Step 2 – Sign Up

 

The sign up tab is as shown above. You are required to fill in your email first. After you have filled in your email, you are to enter your email code. The email code is a way of confirming that your email is authentic. So to get your email code, click on the ‘Get Code’ button just by the right hand side of the email code field. Your email code will be sent to your email immediately. Open it and paste it there, then proceed to fill in your choice password, confirming it on the field that follows. As always, do not be too much in a hurry to read through the terms of Use and Privacy Policies.  After you are done with all this, click on the sign up button.

Step 3 – Account Settings


Unlike most exchanges, the verification exercises on OkEx are different. Once you click the sign up button as directed on previous step, you will be taken straight to the homepage of OkEx that will look like the image above. At the top right is your email account written with a drop down sign. Click on the drop down feature and select ‘Settings’. Apparently, you have to set up a ‘Fund Password’.

Step 4 – Setting up Fund Password


In setting up Fund Password, you will need a Google authenticator. Google authenticator can be set up by downloading the Google Authenticator app straight to your smart phone. Use the app to read the QR code as shown below; on the Bind Google Authenticator tab. Note that there are a bunch of strings close to the QR code, those strings makes up your backup key which is used to reset your 2FA password, just in case you lost your phone.  It is advised that you keep this key stored somewhere outside your computer and if possible, off the internet. When you have eventually authenticated the QR code, your Google Authentication app will give you a code. Put this code where it should be and apply the same code that was sent to your email earlier on the Email Code field. The image is shown below;
 
Once you have proceeded past this stage, you can then set up your fund password, and then proceed to deposit tokens into your new account. Deposition can be done with fiat currencies through the use of bank accounts, and it can also be done through the use of  transfers from other exchanges.

HOW TO OPEN A NEW ACCOUNT ON HUOBI

Huobi is one of the top cryptocurrency trading platforms with the goal of giving investors a professional, trust worthy and secured platform. Since its inception in 2013, it has been through challenges that threatened to end its prospects. The most noteable among this was the famous Chinese government clampdown on cryptocurrencies. If you are familiar with the exchange, you will know that they have at least three different websites on which they operate, the founders claim that this was their way of surviving the challenges they faced.
From the information on the website, Huobi has offices in Singapore, Hong Kong and Japan. And it has some number of departments that operates in China. Nobody knows the exact team that is running Huobi. Though the public knows that the founder and the CEO of the company is Leo Li, there is little or no information as to the evolution of the company. But this has not in any way hindered the growth of the exchange as it currently operates in a lot of countries.
Huobi provides a trading platform with a wide range of token that is currently totaled at 190. Some of the top cryptos that are being traded are Bitcoin, Ethereum, Litecoin, and Dash. It is a cryp-to-crypto exchange for now, but there are plans set in place to introduce the use of fiat currencies like the Chinese Yen and United States Dollar to the trading.
Creating a New Account
Creating a new account on Huobi is easy. You can carry out some transactions just by registration. This is unlike many other top cryptocurrency exchange platforms that require their users to go through rigorous verification processes; which of course is for a good cause.

Step 1 – Visit www.hbg.com

 
Creating a Huobi trading account is easy. The homepage is shown above, at the top right hand side of the page is the ‘Sign Up button. That is where the journey begins. But make sure that the browser that you are using is up to date.
 

Step 2 – Sign Up

 

On the sign up tab as shown above, there are two types of registration of which you are allowed to choose just one. You can either sign up with a valid phone number or with your email address. For this post, we are going to make use of the email address because it is safe. There is the ‘Nationality’ field of which will show the country that you are in. If it doesn’t, make sure you select it among the options provided. Other fields include your email and password. Leave the ‘Invitation code’ field empty if you do not have it. Huobi rewards referral from old members, the member is required to give you a particular code assigned to him only, that is why the ‘Invitation code’ field is there.
Make sure you read the ‘Terms of Use’ for this exchange platform before finally clicking on the ‘Sign Up’ button that is at the bottom of the page.
 

Step 3 – Email Verification


Once you fill the necessary information and you click on the sign up button, a tab will pop up asking you to enter your one-time authentication code. The code will be sent to your email and it is in the format of what is shown below;
Copy the code and paste it on the appropriate field on the Huobi site.
 

Step 4 – Depositing Funds


As established earlier, carrying out transactions on Huobi does not necessarily require much verification. When you log in after finishing up the registration process, you will be asked if you would like to fund your account, with options ranging from the use of fiat or digital currencies. The screenshot of this tab is shown below;
As you can see, you can make deposits using bank transfers or using standard blockchain wallet. However, the goal of this article is to get you to verify your identity. So we will have to go with the ‘Buy Now’ option. Click on the box on the ‘How to start with no digital asset?’ option and the tab below will open. Click on the ‘OTC’ (Over the Counter) option.
 
Using OTC, you you can find a prospective seller that is offering Btcoin or Ethereum for currencies like US dollars and Chinese Yen. Buying these coins is easy, all you have to do is transfer funds with the appropriate payment method. Many of the buyers do not require verification procedures, but for security purposes, I advise that you stick to buyers that require verification procedures. There are many other steps to take to complete your first trading on Huobi, they are however outside the scope of this article.