<a href=”http://www.magwebdesigns.net/wp/2019/06/04/beginning-journey-crypto-currency-investment/”>Beginning Journey into Crypto Currency Investment</a>
With the current slump today I think it’s a good time to get in on a relative ground floor for a lot of these tokens.
So here it goes I jumped off the deep end. I’m giving my self an allowance of $300 a month to diversify my portfolio into the block chain. Yes we all know where this is going with the dAaps and the Beast Network / skynet , etc.. Anyhoo.
The tokens / coins I like are all in the top ten in regards to market cap. I ‘ve been investing small amounts of money $20-$50 here and there. I’m a little better then even at this point. I was playing around with day trading and prolly lost more then if I would have HODL. Plus the fees from coinbase really cut in to the profits on such small transactions. Realistically though, you need to be up on these markets every day if you want to gain. I would also highly recommend some sort of analytics tracking to see what the profit loss ratio is. I’m keeping terrible statistics, so that’s the next on my todo list.
Don’t get me started on the identity theft waiting to happen with the extreme verification process with some of these exchanges either. Hold your ID up in your webcam next to your face please. At least coin base has some sort of backing with NYSE.
Coinbase has become the world’s most well-funded bitcoin company after landing a $75m investment from high-profile backers, including the New York Stock Exchange, Spanish bank BBVA and the former chief executives of Citigroup and Reuters respectively.
So I’ve been using coinbase as a gateway to transfer funds to other exchanges, like Binance. I didnt want my credentials floating around with anyone else besides the banksters. But what if then they all get haxxored?
Binance is one of the world’s biggest cryptocurrency exchanges. As of Tuesday, it’s now also the scene of a major cryptocurrency theft. In what the company calls a “large-scale security breach,” hackers stole not only 7,000 bitcoin—equivalent to over $40 million—but also some user two-factor authentication codes and API tokens.
Theft has long been endemic to cryptocurrency; hackers stole more than $356 million from exchanges and infrastructure in the first three months of 2019 alone,
I’m not dealing with enough funds where any would care about me I think. So, us small time investors should be relativley safe from haxx?”
Now I’m looking at putting a decent (for me ) amount of fiat into this venture. I really think the bull is back in town on this one. This is the next phase of the global roll out of the IoT I would assume. They need compute power to do what they want to do? This is how they get it with dApps? If it’s coming why not try to make a profit I suppose. If I’m making a profit every month I’ll keep doing it. If I’m not I can always cash out BTC to APMEX right? If I can paraphrase Tony. “ You can’t bleed a guy all at once, you gotta leave enough flowing to come back next month, and the month after that”.
A Simple & Real-World Example of How Ripple Works
On Jan, 2018, Ripple partnered with MoneyGram (a cross-border money transfer company) who are now using XRP to speed up and reduce the cost of transferring money by using Ripple’s xRapid payment network.
I’m digging on XRP ( Ripple ). I’ve personally seen transaction times transfering funds between Coin base and Binance completed in under a minute. Way faster then BTC. XRP ( RIPPLE ) currently has the 3rd largest market cap behind BTC and ETH. Along with it currently being at a very low price point compared to its previous max up side in the last bull. The fundamentals and use cases are there as well of course. Many high end backers have come forward on this one. If it did go down as some kind of scam I think there would be to much fall out. So in my view this is a very low risk, high reward investment I’m executing at this time.
Tron (TRX) News: Tron Blockchain Achieved 100 Million Transactions -Sun May 19
Tron (TRX) is one of the best performing digital currencies in the market. It is a decentralized (blockchain) technology that is aimed at creating a free global entertainment platform where users can send, upload, own, publish, and store data. Tron is a non-profit organization and it is situated in Singapore.
Over 90 percent of the trading of Tron takes place on Binance – one of the top digital currency trading platforms in the world. The ambition of the Tron Foundation is to take over the entertainment market that is now valued at the huge number of over $1 trillion.
Another Token I’m liking is TRX ( Tron ). I don’t care what you say Justin Sun is a media marketing power house and Tron has some strong technical (Technological) fundamentals with it’s Solidity driven blockchain. Also has the most dApps I think at this point, so strong use case. With partnerships with Bittorrent this one can only go higher it looks like to me. It’s also been languishing at it’s lows for a while now. I also think the “interest system” where you get .11%(?) of BTT for your TRX holdings air dropped to you is a fantastic idea.
Of course if your talking about TRX ( TRON ). You have to look at BTT (Bit Torrent Token). With the Tron foundation and/or Justin Sun having interest in both. I think they are tied together in this game. As soon as more web browsers integrate BitTorrent clients with block chain based payment gateways this one is gonna take off I would presume.
I think Stellar Lumens ( XLM ) might be the most direct competitor with Ripple ( XRP ) at this point? Still relatively cheap comparitivly.
IBM Working With 6 Banks to Let Them Issue Stablecoins and Use Stellar’s XLM Network
Computing giant IBM, which has carried out several initiatives in blockchain technology, is collaborating with 6 banks to allow them to issue their own stablecoins, while also letting them make use of Stellar Lumen’s XLM token.
The 6 international banks have signed letters of intent and will use IBM’s World Wire, a cross-border payments solution, to offer near instantaneous transactions to their respective customers. IBM’s World Wire runs on the Stellar blockchain, a project co-founded by ex-Ripple co-founder Jed McCaleb.
The banks can also use XLM, Stellar’s native token, as a “bridge currency” when faced with difficulties in trading in fiat.
3 of the 6 banks in the collaboration have been named: Filipino RCBC, Brazilian Banco Bradesco and South Korean Bank Busan.
This should not be taken as any kind of investment advice. I’d liken crypto investing to a casino. Remember the house always wins. Only invest what you are prepared to lose. As Gorden Gekko says,
“Gordon Gekko Quotes :
It’s not a question of enough, pal. It’s a zero sum game, somebody wins, somebody loses. Money itself isn’t lost or made, it’s simply transferred from one perception to another.”
“Wake up, will ya, pal? If you’re not inside, you’re outside, okay?”