How to Determine Whether a Cryptocurrency Is Reliable and Invest Your Money Properly?

reliable cryptocurrency

Cryptocurrency is an excellent investment tool. It is able to grow in price in tens of thousands of times in just 1-2 years. By noticing a promising project at the ICO stage and investing in it in time, the investor has all chances to become a multimillionaire. But the price for such a crazy profitability is the terrible instability of the cryptocurrency market, moreover, such coins are not quite numerous. In this article we will learn how to secure your deposits and choose the most reliable assets for investment.

Contents:
(please, click the topic to scroll down to it)

  1. How to evaluate the reliability of a cryptocurrency?
  2. How to invest in coins?
  3. Conclusion

1. How to evaluate the reliability of a cryptocurrency?

The industry is still too young, and cryptocurrency assets are still very volatile. This is due to the fact that the total market capitalization amounts to about 280 billion dollars (at the time of writing), which is a very small, even ridiculous, figure on the world scale. If we compare it with other markets, for example, the capitalization of Japan’s stock market alone is about 3 trillion dollars, and this is only one country and not the largest one. Such a small capitalization makes the market very vulnerable to sudden ups and downs, which can be caused by some of its participants.

Currently, there is a huge number of different coins that perform different functions, have a different technological base, etc. So how do you choose the most reliable cryptocurrencies from all this mass? If you want to earn serious money in this field, you need to understand the industry. If you are a beginner and want to invest with minimal risks, then you will have to learn how to analyze coins. It is also worth noting that if your goal is reliability, then you should forget about the market of initial coin offering and consider only well-known projects. What you need to pay attention to includes:

Capitalization. As it has already been mentioned above, this factor is one of the most important. The fact is that the probability of Bitcoin’s total collapse is much lower than that of Bytecoin. Much more resources are required to ramp or collapse the rate of a high-capitalization coin. The investment in Bitcoin will be more stable than investment in Bytecoin.

– Trading volume. It is impossible to see the general picture of what is happening based only on the first factor. Capitalization will show how much all the project’s tokens stand in total, but it must be understood that developers are free to issue coins in the amount they want to. The more their number is, the higher the overall coin capitalization will be. But the fact is that the key factor of the growth and development of any coin is its demand. Tokens may amount to several billion, capitalization can be pretty high, but they will be of no use to anyone. Thus, investing in such a project will not be logical. Understanding the volume of trading, the investor can draw conclusions about the demand and forecasts for the coin.

2. How to invest in coins?

As we can see, since January the whole market has been going down with some interruptions for small growth and stagnation. Therefore, it is unfortunately not possible to talk about any serious earnings this year. If you want to invest in coins and earn on it, you need to follow certain rules:

  • Make long-term investments. You do not need to count on a quick payback, you should “forget” about your contribution for at least 1-2 years.
  • Learn to filter information and keep a close eye on the news background.
  • Competently diversify the risks. Invest in top-10 or top-20 cryptocurrencies and rebalance the portfolio in time.
  • Do not spend all of your money. You can not invest more than you are ready to lose. Otherwise, psychologically it will be difficult not to succumb to the emotional impulse during the drawdowns.

3. Conclusion

The cryptocurrency market is an excellent tool for earning money, but it is necessary to have a cold mind and clearly follow the chosen strategy to succeed in this field. If you are choosing a reliable cryptocurrency for investment in 2018, take a closer look at coins from top-10 or top-20. This approach will minimize your risks.

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Akon: Nobody Knows What Cryptocurrency Is, But It Doesn’t Mean You Should Not Invest Into It

akon talks crypto

The famous American rapper Akon, the author of such hits as Smack That and Right Now, seems to be very interested in cryptocurrencies. First, he announced the launch of his own digital coin – Akoin – which is supposed to be the currency of a crypto city in Africa.

While the details of his ambitious plan have not yet been revealed, Akon keeps researching the possibilities of the crypto world. Recently he gave an interview where he discussed the financial situation in Africa and his vision on cryptocurrency.

When the interviewer said he did not quite what cryptocurrency was in the first place, Akon’s response was simple – “Nobody does.” The rapper actually finds digital assets very similar to regular company shares.

You know they’re going to yield an investment. You go there with your money because you know, these guys, in the next four, five or ten years, their projection said they are going to make triple what they are making now.” – he mentioned.

In the end, Akon said he would keep studying the subject and would do everything in his power to improve the difficult situation in Africa.

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Elon Musk Turned to the Creator of Dogecoin for Help in the Fight Against Twitter Scammers

musk needs help with crypto spammers

The CEO of Tesla Motors, entrepreneur and engineer Elon Musk published a message in his Twitter meant for the creator of the cryptocurrency Dogecoin Jackson Palmer with the request to invent a way to deal with crypto scammers on the social network.

A few minutes later, Musk received a response with an invitation to use a script that would resolve the issue with the scammers. Judging by the message of Dogecoin’s creator, Elon Musk used it.

https://twitter.com/ummjackson/status/1041577055970893824

We remind you that Elon Musk had to deal with Twitter fraudsters not once and not twice. Bots with offers to receive different cryptocurrencies for free were attacking Musk so much that he even started writing brilliant responses to them. Later, the social network management even began to block accounts containing the name of Elon Musk.

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McAfee Birthday Collection: Top-5 Eccentric Statements, Promises, Innovations and Scandals

john mcafee birthday compilation

The editorial board of The Coin Shark wishes happy birthday to the most unconventional crypto personality John McAfee and hopes he will thrive and please the crypto community for many more years.

For this occasion we decided to compile the loudest things that McAfee has said or done this year.

1. There is no doubt that the wildest promise of John McAfee remains his infamous claim about the price of Bitcoin in 2020. The interesting part is, of course, related to the physical tortures that McAfee is ready to face if his predictions turn out to be wrong.

2. Another loud claim of McAfee was his firm intention to run for presidency during the next election. Given the low levels of popularity that the current US President is coping with, we believe that anything might happen at this point. Politics aside, no doubt that the crypto world will be thrilled to have such a president.  

3. We could not leave out the epic with McAfee’s crypto wallet Bitfi. Was it really hacked? Was McAfee planning to give such a pricy award? We don’t know. However, what we do know is that the story brought a whole lot of attention to the wallet, so maybe it was an ultimate goal in the first place.

4. The CoinMarketCap should beware, because John McAfee is on its toes. His own site with market capitalization and cryptocurrency exchange rates is already functioning.

5. Last, but certainly not least comes the McAfee crypto challenge. Brilliant minds with innovative crypto solutions can join his team to improve and develop the crypto world together.

Anyway, even if John McAfee does not eat any parts of his body or loses the run for presidency, he will always remain one of the brightest stars of the crypto universe. Happy birthday, John!

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Bitcoin and Ethereum Price Analysis Today on the 18th of September: Cryptocurrencies Collapsed Again

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the online platform Coin360, Bitcоin (BTC) lost 3.07% in the past 24 hours. The price at the time of writing is $6286 per coin.


Source: https://coin360.io/

In the past 24 hours Bitcoin reached the highest mark for the day at $6452, later it fell drastically to $6338 and then fell to $6257 per coin. At the time of writing BTC added about $30.


Source: https://coinmarketcap.com/

In this time interval, we can observe a downtrend.

The remaining cryptocurrencies fell into the deep red zone:

Bitcoin Cash lost 7.23% over the past day and costs $414 per coin;

Ripple dropped by 2.50% and is worth $0.27;

EOS fell by 9.17%, and its price is $4.86;

Litecoin lost 7.79% and its value is $51;

Cardano fell by 7.69% and is worth $0.063;

Stellar decreased by 3.51% and costs $0.19;

IOTA lost 6.01%, and its value is $0.53;

Dash lost 6.58%, and its price is $182;

Monero became cheaper by 7.89% and is worth $107.

Ethereum reached the highest mark of $221 in the past 24 hours. A few hours later, ETH dropped to $195. At the time of writing, the price of the coin is $197.


Source: https://coinmarketcap.com/

The total market capitalization dropped to $192 billion. Bitcoin accounts for 56.3% of the total volume. In monetary terms, this is $108 billion.

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John McAfee Is Not Having It With Online Trolls

mcafee is fighting the trolls

Scammers, fraudsters, trolls – whatever you want to call them – have been pushing their luck with a lot of major crypto personalities and famous people.

We all remember how a fake account of Vitalik Buterin tried to cheat the poor followers out of their money and when Elon Musk could not get rid of annoying trolls asking him whether he wanted to purchase Ethereum or not.

This time the crypto enthusiast John McAfee decided to oppose the Internet “pests”. He published an angry message on his Twitter.

So, we genuinely recommend all the trolls to leave McAfee alone for their own sake.

We remind you:

John McAfee Predicted the Bitcoin Price for 2020

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Binance Is Launching a Regular Exchange in Singapore

binance opens a fiat exchange in Singapore

Binance, the biggest crypto exchange in terms of trading volume (based on the info from the CoinMarketCap) decided to expand into the fiat direction. Its CEO, Zhao Chengpeng, made an announcement where he claimed that the fiat branch of Binance will soon open in Singapore.

Firstly, the beta version will launch. It will happen on the 18th of September. This is a necessary step to try the idea out and fix all the flaws that might come up. The details of further development of the fiat currency exchange have not yet been revealed.

We remind you:

Review of Binance Coin Сryptoсurrency: Benefits for Holders and Prospects for Development

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