Month: July 2018

5 reasons why you should invest in bitcoin

The cryptocurrency market has been growing at an exponential rate with an influx of capital, driven by young savvy investors. This is much more than a bubble, we are witnessing the beginning of a new digital economy. Here are 5 reasons to invest and join this crypto industry.

1. Be part of the future

More than an investment, cryptocurrencies are an ongoing technology and socioeconomic experiment. As a result, the blockchain space is booming with new opportunities. With an approximate market cap of $280 billion, rest assured that this industry is here to stay. This new industry is constantly evolving, therefore the earlier you get acquainted with it, the higher your chance are of benefiting from its future development.

Most people are intimidated by cryptocurrencies but this is the very reason why you should be invested.* Taking the first step earlier than the masses will give you an edge, both in terms of potential gains and experience. I won’t try to sugarcoat it, it will be a steep learning curve but it will be worth it. Don’t wait for the heard and be a pioneer, learn and invest in digital currencies now and reap the rewards.

2. Return on investment

You will not be bored, as this space moves at light speed and keeps growing every day. This accumulated drive has resulted in one of the highest return on investment ever to be observed across various industries. The cryptocurrency space has boomed and has convinced even the most skeptical actors to join in.

Imagine that if you had invested just 100$ in June 2011, your current ROI would approximate 67000%! While nobody can guarantee a fixed return (Lamborghinis jokes aside), with proper due diligence cryptocurrencies can be a vital part of your investment portfolio.

3. Start small and dream big

Investing is a hot topic that many people talk about but very few do. More than saving money, you should learn to invest. I recommend to start small with investing only as much as you are comfortable with. Ease into the field step by step and get your feet wet with just 50 USD. Think of it like this: instead of buying that new watch or a new pair of shoes, challenge yourself and invest that capital in cryptocurrencies.

One golden tip I learned throughout the years, never invest more than what you are willing to lose. While many of us are lucky to have the means to experiment with 50 USD, you should never feel pressured to invest beyond your comfort zone.

Many people don’t know but it’s absolutely not necessary to buy 1 whole Bitcoin. Digital currencies such as Bitcoin as divisible into small amounts, so you can just buy a fraction. As of this article’s date, you can buy 0.0077 Bitcoin (BTC) for 50 USD.

4. Have a vision

This might sound patronising but have you developed of a financial plan? Have you set a financial goal for yourself? It’s never too late to start.

Managing your personal finances is paramount to living a comfortable and balanced life. This means planning a budget and spending your resources over time while factoring in financial risks and life events. How to start? Simple. First, assess your current financial situation, set a goal, make a plan and execute. Monitor your cryptocurrency portfolio and adjust it if needed. Planning your investment strategy will allow you to sleep well at night, remain confident and endure the volatility of this market. This fast growing industry will teach you to develop solid nerves.

Tip: Do not feel intimated by price volatility. While some of us make great traders, it’s perfectly fine to just HODL or use your coins.

5. Always diversify

One last secret, consider to diversify your investment portfolio. Spread your investment across multiple assets such as piggy bank, stocks, commodities, real estate, bank deposits and so on. Remember, digital currencies are a volatile investment and it’s not recommended for most people to invest their life savings. For example, if you have 5000 USD as your total investment, you might invest a large part of it into stable assets and keep 1–10% of it into cryptocurrencies. As for your crypto portfolio, most people start with just one coins (e.g. a little bit of Bitcoin). But with more experience you might find it compelling to research and invest in other reputable cryptocurrencies as well.

We dream of the day when crypto ATM machines are more common in our high streets than badly tuned guitars held by crusty buskers. When we think of the cutting-edge crypto industry, Bulgaria is hardly a place that jumps out from the crowd, however, they are about to launch their first ever crypto ATMs in news released this week.

Bulgaria will be the next nation to have two-way crypto ATM machines. A local Bulgarian crypto exchange, DG Cash, announced the news on social media this week that they are launching the new machine on Monday in one of Sofia’s most popular shopping centers,

Inaugural crypto ATM machines

We might not naturally see Bulgaria as a shining beacon of crypto evolution, but that is exactly what is happening, and kudos to them. The launch on Monday will see the new ATM offer options in bitcoin, litecoin and a few other of the most popular altcoins.

The news has been popular in many quarters citing that it is a natural progression that crypto ATM machines are now becoming something we are seeing more of. With so many people now buying into crypto, which is just the beginning, it only makes sense to give crypto users an alternative to access their crypto in the easiest possibles ways.

Via the news ATMs, customers will be able to buy a variety of cryptos with cash that will include bitcoin, ethereum, bitcoin cash, monero, litecoin, and the Bulgarian Lev. Bulgarian crypto ATM users will be issues anonymous NFC cards as crypto wallets.

ATMs in line with regulations

People close to DG Cash have mentioned that the exchange did encounter a variety of hurdles in their pursuit to launch these crypto ATM machines, but apparently they “prefer not to speak about it” and that “it’s in the past now and we look to move forward.”

Relatively speaking, Bulgaria is not the largest country in the European Union, with approximately 7-million inhabitants, but it surprised the crypto community when it was revealed that the nation had the second largest bitcoin stash in the world earlier this year.

The move to install the ATMs is being seen as a great chance to get more Bulgarians involved in crypto and blockchain. The nation is obviously already well versed on the industry with many users coming from all walks of life from different backgrounds to make up the Bulgarian crypto-sphere.

DG Cash has been doing very well itself with a trading volume of 2.45 million Euros since the end of 2017. Word is around the campfire that DG Cash has already purchased its second crypto ATM machine, but this one will be installed in Malta, where DG also operates. In fact, it will also be the first ever ATM machine of its kind to be launched in Malta, so let’s look forward to that.

I have a dream where crypto ATM machines are more common than US congressman gaffs, and as we see in Bulgaria, it is getting much nearer than we think.

First Crypto ATM Machines to be Launched in Bulgaria
Samsung Now Accepting Crypto and Blockchain Payments in Baltic States

It is being reported that Samsung is now accepting crypto and blockchain payments across its stores in three Baltic states. Eastern Europe is already a major player in the crypto industry and one of the most evolving regions in the crypto-sphere, so it’s probably not so surprising that Samsung is testing the water here.

As major corporations and banking institutions are now clamoring to be a part of the crypto industry, it seems that the giant electronics company, Samsung, is already one step ahead of the competition by accepting crypto and blockchain payments.

Testing the waters with crypto and blockchain payments

The news that Samsung is now accepting crypto and blockchain payments in several of its Baltic stores is not really that surprising as the electronics giant tests the waters. The payments will be made using the Lithuanian-based payment platform, CopPay.

CopPay announced the news today that their customers in Tallinn, Riga, Vilnius and Kaunas across the Baltic nations of Latvia, Estonia and Lithuania will be able to purchase electronic products across Samsung’s stores with crypto. This is great if you are from these countries and want to buy phones, tablets, laptops, TVs and more with your bitcoin stash.

Samsung is a massive company and a multinational conglomerate, and news they are now trying out crypto and blockchain payments in the Baltic region is major news for the industry. They will be accepting the payments in all manner of cryptocurrencies such as the standards ones that include bitcoin, ether, litecoin and XRP, but also in other coins such as dash, NEM and steem.

Taking retail crypto transactions to the next level

The capital city of Lithuania, Vilnius, currently has three Samsung stores that will accept the new payments, while there is a store apiece in Latvia’s Riga and Estonia’s Tallinn, taking the testing ground to a total of 5 stores across the Baltics.

Eastern Europe is not the only region to benefit from CopPay, as several merchants across Portugal are also using the platform with an announcement in the pipeline regarding Samsung’s online stores.

CopPay recently released a statement regarding their services moving forward in a quest to take crypto transactions to the next level by saying: “There is a growing trend towards business and digitalization and allowing customers to pay for goods and services in cryptocurrency, whether at global retailers or local restaurants”.

It seems that CopPay is already on the cutting-edge of the industry, and understands the importance in diversifying crypto and blockchain payment options, allowing customers to buy normal everyday things with crypto while also purchasing larger items such as televisions and mobile phones.

Samsung is also hardly a stranger to the crypto world, revealing in January that it was making its first venture into the crypto mining chip scene by actually making them.

We are always hyper-critical when major corporations enter the crypto industry, but Samsung allowing crypto and blockchain payments across its Baltic stores is a no-brainer and a total positive for the industry moving forward.

Former Wall Street executive and financial expert, Mike Novogratz, has stated that the mass adoption of crypto and blockchain technology is still far off. The cryptocurrency industry is currently a place of mass speculation in regards to not only trading and price of coins, but also its future. The word is on ‘the street’ that blockchain is still five or six years away from making its mark in the mainstream.

When it comes to crypto and blockchain technology, people who are knee-deep in the industry sometimes fail to understand that mass adoption of the technology is still a few years away. We are so caught up in the moment that we fail to realize that not everyone is on the crypto bandwagon as of yet.

Predictions for the future of crypto and blockchain technology

To put things into perspective and to keep our feet firmly on the ground, former Wall Street executive, Mike Novogratz, threw his 50-cents into the busker’s hat this week when speaking at the Beyond Blocks conference in South Korea that is publicizing blockchain technology.

Novogratz, who is also the CEO and founder of the crypto investment company Galaxy Digital, reckons that major institutions will come into crypto over the course of the next three years, and without them doing so, the industry will continue to be a headless chicken and will keep going around in circles. That is a controversial and contentious opinion in many quarters of the crypto industry.

He went onto say that although major players might well enter the game very soon, crypto and blockchain technology will not fully permeate the mainstream for maybe half a decade.

“You won’t see mass adoption until the user experience does not feel like something new and that is still five to six years away,” said Novogratz at Beyond Blocks.

Reasons why it will take so long…

Some of the major obstacles why the widespread adoption of crypto and blockchain technology will take so long is the “cost of technical talent” said Novogratz, along with the doubts of investors as there is “no clear precedent for the financial industry.”

He went onto say that it is almost impossible to convince conventional investors that you have money stored in places you have never heard of before and that it is important that major banks such as the Japanese Bank, Goldman Sachs, HSBC or other major players enter the market to give mainstream investors confidence.

The former Wall Street exec claims that it is also important that a regulatory approach by governments or independent bodies will give confidence to mainstream investors and will urge more of the public to get involved with crypto and blockchain.

At this point, it is important to mention that Novogratz was ranked one of the richest people in the world this year and formally worked at Goldman Sachs and the Fortress Investment Group before making his move in the crypto and blockchain technology industry by forming Galaxy Digital. His past is most definitely swaying his words, but is the future of crypto in the hands of major banking institutes and corporations? We hope not!

Mass Adoption of Crypto and Blockchain Technology Still Far Away says Wall Street Exec