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Cryptocurrency Investment 101 — How To Do Your Own Research (DYOR) And Invest In The Right Digital Asset

Not all cryptocurrencies are the same and when it comes to choosing one for your investment , one size does not fit all. Doing your own research (DYOR) is imperative when looking to engage in the crypto market . Here’s what to look out for and what makes the popular cryptocurrencies on the market crowd favorites. Here are over 6,500 cryptocurrencies at last count. Not all of them are equally desirable of course, just as not all of the real world’s currencies are on the same footing. Investors looking to enter the cryptoverse have a number of questions to address — whether to buy a lot of one currency, divide their money between two different cryptocurrencies , or participate in the movement of multiple currencies. There is no one size fits all formula and deciding which cryptocurrencies to invest in varies depending on the risk appetite of one person versus another. Specific cryptocurrencies are more suited to specific needs, such as for investors, application de...

U.S Central Bank Has No Plans To Ban Bitcoin Or Crypto

Jerome Powell, the United States’ Federal Reserve Chairman believes regulation of the cryptocurrency market is critical, but the bank has no intention to outrightly ban Bitcoin (BTC) or other digital currencies. Powell clarified that a China-style ban on digital assets isn’t something he’s considering when he responded to a question from Republican Representative, Ted Budd. Rep. Budd asked about safety regulations for stablecoins and about the central bank’s ongoing discussions about a so-called “digital dollar” in response to Powell’s comments. Despite being similar to money market funds and to bank deposits , stablecoins are outside the regulatory perimeter, “it is necessary for them to be regulated,” Powell said while adding that “the same rule applies to the same activity.” Although the Fed has been considering a central bank digital currency for a while, policymakers are still undecided about its implementation. A number of studies have been commissioned by the central b...

Top 5 Cryptocurrencies to watch in October

The month of September in the cryptocurrency world has always been known to be a month of red candles and the September of 2021 did not fail to live up to that expectation. The cryptocurrency market capitalization lost approximately 11.2% in the month of September from approximately $2.07 trillion at the beginning of the month to $1.84 trillion. Flagship cryptocurrency Bitcoin crashed from a high of $52,850 to trade a low of $43,285, on the 7th of September, a near $10,000 drop in a day. This was also the day the Latin American country, El Salvador, officially adopted Bitcoin as a legal tender. In the month, Bitcoin lost over 10%. As you would expect, the altcoin market also crashed much steeper than Bitcoin. With many top altcoins like ADA, BNB, XRP, SOL all posting double-figure losses in the month. The altcoin market capitalization lost 12.22% in September from approximately $1.2 trillion to stand at $1.06 trillion at the end of the month. As previously mentioned, a major topi...

Iran Resumes Bitcoin Mining Operations After 3-month Ban

After the former President of Iran, Hassan Rouhani, put a ban on cryptocurrency mining as a result of power outage issues for three months, the Iranian government has now lifted the ban. This means that all licensed cryptocurrency miners can resume operations. As mentioned, the ban was put into effect due to concerns over the stability of the country’s power grid. The country experienced widespread power outages in the summer, which was attributed to extreme heat. Due to the power outages, the former President decided to ban crypto mining during the summer to ensure citizens can keep their air conditioners running, although doubts have been expressed in some quarters about how much power cryptocurrency mining actually uses in the country. With the heat dying down and Ebrahim Raisi taking office as the new President, the crypto mining ban has been lifted. Crypto mining in Iran An estimated 4.5% to 7% of the world’s cryptocurrency mining is done in Iran. The country has one of the cheape...

Bitcoin Continues To Chop Around $48k As Ether’s Exchange Outflows Spike

Bitcoin is in stasis as lingering macroeconomic risks keep gains in check. Ether, the native token of Ethereum’s blockchain, is seeing little action in the wake of supposedly bullish record daily outflows from exchanges. Bitcoin, the largest cryptocurrency by market value, is trading around $48,000 for a second day. The upside momentum ran out of steam after the U.S. posted unexpectedly strong August retail sales figure on Thursday, reviving concerns of an early scaling back of Federal Reserve stimulus. Speculation about a so-called taper had subsided earlier this week following a weaker-than-estimated U.S. core inflation number. Analysts at Standard Chartered expect the Fed to announce the taper next week after the Federal Open Market Committee meets. “The 22 September FOMC will likely signal a tapering decision at the next meeting, providing few details. The [interest rate] dots will likely signal one 2022 hike, and two added hikes in both 2023 and 2024. The risk skew is for more rat...