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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Malware From The Pirate Bay May Hijack Website To Steal Crypto

The movies downloaded from The Pirate Bay bring a malware to the user’s computer. That was the conclusion reached by a security researcher, with the nickname  0xffff0800 in Twitter. He told that when he downloaded a movie ‘The Girl In The Spider’s Web’ from TPB, a .LNK shortcut with CozyBear malware got to his computer.

However, the Cozy Bear malware is just a decoy, the real thing that brings damages is Powershell commands. Once the malware reaches the computer, it carries out malicious actions, like disabling Windows Defender and installing viral extensions in Firefox and Chrome browsers. Moreover, it edits the appearance of the website on the user’s computer.

The movie is an application itself which links the computer to the external malicious servers.

Source: Bleeping Computer

Moreover, the newly installed viral extensions can modify the JavaScript code and add some advertisements to the main page, like it is shown below.

Source: Bleeping Computer

What is the most dangerous is that the malware can edit the appearance of the web page and add or change the information without the user’s awareness, this ability allows the malware to steal the crypto. For example, if the user open Wikipedia page on a compromised system, he/she is likely to see the message saying “Wikipedia now accepts donations in form of bitcoin” and a ‘DONATE’ sign. All the donations will go to the hacker.

Source: Bleeping Computer

In addition, the malware is able to change crypto wallet addresses provided on the pages. Unfortunately, you will not even notice how the hacker stole your money.

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Cryptocurrency Prices Today, January 18: Cryptocurrencies Are Relatively Stable

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

According to the Coingecko online platform, Bitcoin (BTC) added 1% over the past 24 hours. The price at the time of writing is $3611 per coin.

Cryptocurrencies are demonstrating both slight increase and decrease:

Bitcoin Cash added 0.61% over the past 24 hours and costs $129 per coin;

Ripple grew by 0.21% and costs $0.32;

EOS increased by 2.72%, and its price is $2.51;

Litecoin gained 1.1%, and its value is $31;

Cardano added 1.62%, and its cost is $0.046;

Stellar gained 2.44% and costs $0.10;

IOTA increased by 5.41%, and its cost is $0.31;

Dash grew by 2.21%, and its price $72;

Monero became more expensive by 0.35% and costs $45.

Over the past 24 hours, Ethereum added 0.66%. The rate of the coin is $123.

The total market capitalization is $122 billion. Bitcoin accounts for 52.4% of the total volume. In monetary terms, this is $64 billion.

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BitPay Transactions Surpasses $1B in 2018, B2B Payments Records 225% Increase

BitPay is a US-based bitcoin payment provider which has recently announced its financial results of the past year. The company has processed over $1 billion in transactions alone. Moreover, its B2B payments record 225% increase in compare to 2017.

The main reason of such a lift-off is that Bitpay added a lot of new clients, like Dish Networks, HackerOne, and the State of Ohio, as well as many other law firms, data center providers, and IT vendors.

The CEO of BitPay, Stephen Pair, commented on this development:

“BitPay’s B2B business continues to grow rapidly as our solution is cheaper and quicker than a bank wire from most regions of the world. To process over a $1 Billion for the second year in a row despite Bitcoin’s large price drop shows that Bitcoin is being used to solve real pain points around the world.”

BitPay mostly supports Bitcoin transactions, however, it also supports payments with Bitcoin Cash, Gemini, and Paxos. During that year a lot of companies had to lay off their employees due to the market situation, yet, Bitpay conversely increased its manpower by 78 percent in the past year.

In addition, BitPay is attractive to the investors, in 2018, it raised $40 million in Series B funding round taking the total raised capital to $70 million.

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Cryptocurrency Prices Today, January 17: Cryptocurrencies Are on the Border of the Red and Green Zones

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

According to the online platform Coingecko, Bitcoin (BTC) lost 0.8% over the past 24 hours. The price at the time of writing is $3582 per coin.

Some cryptocurrencies slightly decreased, others added in price a little:

Bitcoin Cash lost 2.6% over the past 24 hours and costs $126 per coin;

Ripple dropped by 1.1% and is $0.32 in rate;

EOS added 0.34%, and its price is $2.44;

Litecoin decreased by 2.66%, and its value is $30;

Cardano grew by 1.3%, and its cost is $0.044;

Stellar fell by 1.73% and costs $0.10;

IOTA lost 3.42%, and its value is $0.29;

Dash dropped by 0.52,% and its price is $71;

Monero became more expensive by 1.21% and costs $45.

Over the past 24 hours, Ethereum lost 2.17%. The exchange rate of the coin is $121.

The total market capitalization rose to $121 billion. Bitcoin accounts for 52.4% of the total volume. In monetary terms, it is $63 billion.

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Crypto Exchange Bittrex Partners With Bitsdaq To Conquer Asia Market

One of the biggest US-based cryptocurrency exchanges, Bittrex, announced that it was partnering with Bitsdaq to open a special trading platform in Asia. This platform will provide different digital assets to the Asian investors.

Moreover, Bitsdaq will operate on Bittrex technology and will be built based on Bittrex’s experience in the blockchain.The platform will allow users to trade various digital tokens, including tokens a available on the Bittrex exchange.

The Chairman and CEO of Bitsdaq, Ricky Ng, said:

“We are honored to bring Bittrex’s extensive cryptocurrency options to the Asia market.….It takes a unique combination of advanced technology and financial expertise to launch an efficient, reliable and secure platform for trading digital assets in Asia. We found the ideal partner to help provide a safe environment for our customers and the entire community.”

In accordance with the statement, the Bitsdaq platform will control a lot of things connected to the management of the platform, such as customer support, marketing, sales and customised development. In addition, it will take care of customer operations.

The day of the launch is yet to be announced, though customers can pre-register for an account on Bitsdaq’s website.

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Coingecko Publishes Its Annual Crypto Report for 2018

The online platform Coingecko published it crypto report for the passed year of 2018, where it analyzed the most important events in the crypto industry, including the market trends, crypto thefts, ICO news, stablecoins, Bitcoin Cash wars etc.

As for the market tendencies, there is no doubt that 2018 was the year of collapse. The total market capitalization decreased by whopping 78.85%, with the main period of decrease falling onto Q4. Meanwhile, the trading volumes remained quite stable.

Regarding the top-5 coins in the rating, they decreased as follows:

  • BTC – by 73%;
  • XRP – by 82%;
  • ETH – by 84%;
  • BCH – by 93%;
  • EOS – by 66%

The largest crypto exchange by the end of 2018, according to the trading volumes, turned out to be Bithumb, followed closely by ZB.com and Binance.

As for stealing cryptocurrency, the estimated money loss from criminals and scammers amounted to around $867.45 million. The biggest crypto theft was Zaif hack which took place in September and resulted in the theft of $23.5 million.

The most popular blockchain platforms for creating decentralized apps became Ethereum, EOS, Steem and Tron.

The synopsis of the stablecoin development in 2018 looks the following way:

Thus, we can definitely see that though 2018 was a hard year for crypto and there were much more downs than ups, the industry is still afloat and developing. Hopefully, 2019 will be a better year.

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