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How to Decide Which Cryptocurrency to Invest In?

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Blockchain technology has blessed us with many cryptocurrencies. However, how can you decide which one is right for you and invest accordingly? Let us find out.

Identify the Cryptocurrency

When you want to buy cryptocurrency, you must first understand your needs. That way, you can purchase the cryptocurrency that ticks all the boxes on your checklist. It is crucial to identify the cryptocurrency that fits your needs.

While there are many factors to consider when investing in crypto, it is necessary to know that not all crypto coins are created equal. Some might be more volatile than others, and some may have more potential for growth than others.

Look at the market cap of the coin and compare it with other coins on the list. The market cap is simply the total value of all coins in circulation multiplied by the price per coin. If this number is high, then it means that many people believe enough in this currency. So, as long as they don’t lose faith, then this currency should continue growing over time because it is hardwired into their system.

It also means that if someone were looking for something cheap (or free), then this wouldn’t necessarily be recommended because it would mean less potential profit due to fewer users adopting these systems over time. However, early adopters will benefit from investing early since their investments will increase significantly once adoption rates increase exponentially due.

You should also look into factors like whether or not you can buy the crypto with your credit card and its fiat conversion rate over the years. These factors will also influence your decision.

Consider which ERC20 Tokens to Buy

A key factor to consider when deciding which cryptocurrency to invest in is whether or not you want to invest in ERC20 tokens. ERC20 tokens are tokens built on the Ethereum blockchain, which means they can be traded on decentralized exchanges like EtherDelta and ForkDelta.

ERC20 tokens are not all created equal. They come with a wide variety of characteristics, including value and market cap. Some have only one utility use case (e.g., Binance Coin), others have multiple utility uses (e.g., 0x), and some have no utility whatsoever (e.g., Dentacoin). Investors need to understand these differences before making an investment decision because it could mean the difference between doubling your money or losing it altogether!

Analyze a Cryptocurrency’s Team

To get a sense of the cryptocurrency’s team, you can check their LinkedIn profiles to see if they have relevant experience in the industry. You can also look at their Twitter and Github profiles and Medium posts they may have written that mention their project. If there are any Reddit posts or YouTube videos featuring them, these would be good places to start your research.

Also Read:  How Amazon Is Changing the Bitcoin Industry.‍

On top of all this, you can also check out Telegram groups and Discord channels where they might be hanging out online. Finally, Bitcointalk is another place worth checking out for information about cryptocurrency teams (and for more information about blockchain technology overall).

Check How It is Being Used

Check the community, developers, and team behind the cryptocurrency. The best way to do this is by looking at their social media platforms like Twitter and Telegram. Seeing how often they post updates about their project, you can get a good idea of how active they are with development. You should also look for developers who are answering questions about their projects on Reddit or other forums like BitcoinTalk.

Look at the cryptocurrency’s use cases. Every cryptocurrency has its purpose, so it is vital to understand why yours exists and what problems it’s trying to solve before deciding whether or not it’s worth investing in.

In addition to researching common uses (like payment processing), look into less conventional ones that could benefit from blockchain technology—for example, supply chain management systems could benefit from using smart contracts written into Ethereum’s blockchain network because it would allow businesses like Walmart Stores Inc., which has been testing out these blockchains since 2016, greater control over their data while maintaining privacy protection for customers who have opted-in.

However, this may not necessarily apply when considering other types such as Bitcoin Cash which was created primarily because some people believed there wasn’t enough decentralization within Bitcoin due largely in part due to concerns over mining centralization caused by ASIC miners being used instead.

Understand the Risks

When choosing crypto, make sure that you are aware of the following risks.

  • The risk of losing your money. This is the obvious one and it is a major factor that should be considered when determining whether or not to invest in any cryptocurrency. Cryptocurrencies are volatile, so you can lose all or most of your funds if you invest without knowing what you’re doing.
  • The risk is that the cryptocurrency won’t be used by anyone. If no one uses a currency, then it becomes useless as a medium of exchange and store of value—which means that its price will drop to zero over time (assuming no other factors are driving up demand).
  • The risk that the cryptocurrency won’t be adopted as widely as other coins/tokens have been in the past, i.e., Bitcoin during its early days before it became popular with merchants and users alike around 2009-2010). That happens either because there aren’t enough people who want to use a particular coin/token or because there aren’t enough merchants/exchanges willing to accept them for payment or investment purposes.
  • The risk that security flaws could cause problems with using this form of currency over others.

After all this, you can choose which cryptocurrency you want to invest in and put your faith in.

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Cryptocurrency

The Top Three People Who Own the Most Bitcoins 

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The Top Three People Who Own the Most Bitcoins 

There was a point in history when individuals were transferring thousands of Bitcoins across the internet for a variety of reasons, including online betting on websites like CasinoChan, tipping at restaurants, and even purchasing narcotics. There was a point when individuals were transferring thousands of Bitcoins across the internet for a variety of reasons, including online betting, tipping, and even purchasing narcotics. A guy allegedly paid 10,000 BTC to get two Papa John’s pizzas delivered to him. What none of these people knew was that their few pennies of digital currency would someday be worth $65,000 per coin.

Those who predicted it are now known as crypto gazillionaires. For many investors, the power of HODLing Bitcoin, along with tactics to obtain more crypto, has proven to be the finest financial option. Let’s find out who are the top three people who have the most Bitcoins so far. 

Satoshi Nakamoto

Satoshi Nakamoto is a name frequently heard in the crypto scene—but who is Nakamoto? Better yet, who are Nakamoto? Somewhat of an urban legend, Satoshi Nakamoto is essentially a phantom—a mystery person or group who released the whitepaper for Bitcoin in 2008. Bitcoin was built as a decentralized alternative to the global financial system. 

This implies the system may work without a central authority and move cash from one account to another. Transferring money is simple with a central controller; just tell the bank you want to withdraw a certain amount from your account and put it in someone else’s. In this situation, the bank has complete control over whether the transaction is accepted, rejected, delayed, or charged.

Not only that, but the bank also has the authority to amend the system’s ledger of all account balances. Satoshi Nakamoto gave the capacity to add and confirm transactions to a public record called the blockchain with Bitcoin. Obtaining a computer machine and connecting it to the Bitcoin network through its modified mainnet was all that was required.

Users’ computers battled to predict a random number produced by the Bitcoin protocol in this way. Those that guessed the proper number accurately received fresh Bitcoin units. They also had the opportunity to add to the blockchain’s next page of Bitcoin transactions. This way, Nakamoto became known as the very first Bitcoin miner in history. As a result, Nakamoto became the first to amass a large number of Bitcoin units. They have yet to cash out a single Bitcoin. Satoshi Nakamoto’s net worth is estimated to be at least 1 million Bitcoins ($32.95 billion at current exchange rates).

However, as Nakamoto has chosen secrecy, there is no way of knowing whether or not their 1 million BTC will ever be paid out. Australian computer programmer Craig Wright has claimed to be Nakamoto on several occasions, but has been unable to offer any proof that he owns Bitcoin from the genesis block.

Also Read:  How Amazon Is Changing the Bitcoin Industry.‍

Barry Silbert

Investors who wish to HODL and increase their Bitcoin holdings through tactical investments across space can look at Barry Silbert as an example. Digital Currency Group is led by Silbert, who is also the company’s founder and CEO. This corporation actively seeks to place Bitcoin at the forefront of the global financial system’s development. The 43-year-old billionaire has invested in over 100 Bitcoin-related startups and enterprises through his DCG holding company, often through active mergers and acquisitions.

Moreover, Silbert owns Coindesk—this is one of the world’s biggest cryptocurrency news and analysis firms. Silbert also controls Genesis, one of the most well-known regulated cryptocurrency exchanges. Accredited investors can acquire exposure to Bitcoin marketplaces through a controlled Grayscale Bitcoin Trust (GBTC) share, thanks to Grayscale Investments, a New York-based investing firm. One Bitcoin is equal to 1,000 GBTC units.

Grayscale alone has 654,600 BTC worth $21.46 billion. The capital, on the other hand, indicates the number of GBTC shares that have been issued. Investors who bought GBTC with Bitcoin cannot get their money back; they must sell the shares on secondary marketplaces. Grayscale has been dubbed a “Bitcoin black hole” as a result of this. While Silbert has a net worth of $3.2 billion, nobody knows how much Bitcoin he holds. 

Michael Saylor

Michael Saylor, the CEO of MicroStrategy, a publicly listed business intelligence company in the United States, has received the label of greatest dip buyer. In 2020, the 56-year-old businessman started on a Bitcoin purchasing binge with the goal of replacing over 80% of his company’s cash holdings with cryptocurrency.

In August 2020, he made his first $250 million Bitcoin buy. The globe was battling with the pandemic and its influence on the global economy at the time. The west’s central banks had released unrestricted quantitative easing to protect markets from a downturn while underdeveloped nations suffered significant economic hardship.

Saylor stated unequivocally that he saw Bitcoin as a buffer against global economic chaos, particularly cash, which has been losing value owing to high market liquidity. As central bank policies remained liberal, including near-zero interest rates, Saylor began to increase MicroStrategy’s Bitcoin exposure. In the sense that the company now owns 105,085 BTC worth $3.44 billion. Saylor admits to owning 17,732 Bitcoins worth $175 million. The asset is now valued at $582.9 million.

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The One Thing All Bitcoin Success Stories Have in Common

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The One Thing All Bitcoin Success Stories Have in Common

What makes a successful Bitcoin entrepreneur? What separates these innovators from the pack? Successful Bitcoin entrepreneurs share one thing in common, and it’s not necessarily their Bitcoin expertise. Instead, they all share a single characteristic: they remain focused on goals despite external distractions or personal setbacks.

When you’re passionate about something and have a strong drive to succeed, getting distracted by other ideas or projects is easy. Or, you might fall short on initial expectations and begin again from scratch with new energy and enthusiasm. These are all valid responses to “what makes a successful Bitcoin entrepreneur?” The question isn’t as simple as it seems; there are many reasons why someone might choose to start a new venture rather than go back to work for an existing company.

However, what if we told you there was only one formula for success? The answer lay hidden in plain sight—it has everything to do with perseverance, focus, and courage.

What Makes a Successful Bitcoin Entrepreneur?

  1. Perseverance.

Perseverance is a critical characteristic for Bitcoin entrepreneurs because it allows them to stay focused on their goals. Without perseverance, it isn’t easy to maintain high productivity and commitment over time. And with repeated achievements under your belt, your drive and determination will only grow stronger. This quality of mind allows Bitcoin entrepreneurs to stay focused even when the going gets tough. When faced with obstacles or challenges, they can remain positive and continue working even when things seem impossible.

Trading Bitcoins on platforms like Crypto Genius unless you are extra patient. Sometimes the market might discourage you but perseverance offers you amazing profit in the long run.

  1. Grit.

Grit is the key to a successful Bitcoin venture. Without it, you’ll be lost in the digital world and may find yourself struggling to keep up with the competition. And if you’re not careful, your new business might not survive long enough to reap the rewards of its hard work.

  1. Resilience.
Also Read:  The Top Three People Who Own the Most Bitcoins 

The ability to remain focused on your goals despite external distractions or personal setbacks is one of the most important qualities a successful Bitcoin entrepreneur has. Resilience is among the most important traits for any business. When you’re passionate about something and have a strong drive to succeed, getting distracted by other ideas or projects is easy. Or, you might fall short on initial expectations and begin again from scratch with new energy and enthusiasm. These are all valid responses to “what makes a successful Bitcoin entrepreneur?”

The question isn’t as simple as it seems; there are many reasons why someone might choose to start a new venture rather than go back to work for an existing company. However, what if we told you there was only one formula for success? The answer lay hidden in plain sight—it has everything to do with perseverance, focus, and courage.

  1. Focus.

If a Bitcoin entrepreneur can stay focused on their goals, they can achieve great things. When you clearly understand what you want to achieve, it’s much easier to stay organized and focused on your work.

  1. Courage.

When you’re starting a new business, it can be not easy to know where to start or how to get started. There are so many things to think about and do, which can feel overwhelming. But if you dare to keep going and persevere, you’ll eventually achieve your goals.

Conclusion.

Bitcoin success stories share one thing: grit, perseverance, resilience, and focus. These three traits have been key to many businesses’ successes in the digital age. If you want to be a part of this success story, focus on building these qualities into your business DNA.

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Tech Trends To Look Out For In 2022

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Fast-paced existence has given way to technology, which has quickly gained control of the globe. According to a report, over 150 million new technology-related jobs will be created worldwide in the next five years. In addition, the future will be shaped by new technologies that are continually being developed.

If you’d like to be competitive in today’s employment market, you’ll need to stay on top of the latest technical developments. You can remain in the ever-expanding tech world where companies like CasinoChan can use the latest tech trends to improve their business procedures.

6 Tech Trends to Watch out for in 2022

We’ll go over our top 6 technological trends you should consider in 2022:

  • AI and Machine Learning

As one of the most promising new technologies in 2021, Artificial Intelligence (AI) makes the top of this list.

By 2025, more than 75% of venture capitalists are expected to employ AI to gather data. Artificial intelligence will be utilized to understand client behavior better, provide a more personalized experience, and evaluate data. This means that AI will produce 2.4 million employments soon.

It’s important to know that AI is a subset of machine learning. Plus, the tide is rising for tech workers in the years to come. AI and machine learning are expected to account for 9% of all new technical jobs in the United States by 2025.

  • Blockchain

Blockchain is a chain of blocks that permits the recording of transactions securely and efficiently. As per a recent study, the global Blockchain market will reach $11.7 billion by the year. Cryptocurrencies, Internet of Things (IoT) devices, and smart contracts are just a few of the many applications of blockchain technology.

Thanks to blockchain technology, digital assets, and Non-fungible Tokens (NFTs), there will be a technological revolution. Blockchain technology has advanced well beyond cryptocurrencies, allowing us to authenticate ownership with NFTs.

This technology holds great promise regarding future employment opportunities, salary potential, and global acclaim.

  • Cybersecurity

The safety of the user experience has been greatly enhanced thanks to advances in cybersecurity. However, to keep the system safe from various forms of cybercrime, security experts must first identify the system’s weak points. After which, they must adopt cutting-edge solutions to address them.

Also Read:  Bitcoin Exchanges Trends You Absolutely Must Try in 2023.

According to the most recent estimates, more than 1.5 million cybersecurity job openings will be globally by 2025. So, this is a fantastic field in which to create a career.

  • Low Code/No-Code

Low Code/No-Code has become a global phenomenon due to its ability to expedite software development. Thanks to the Low Code/No Code approach, making apps for the web and mobile devices has never been easier. As a result, low-code and no-code are predicted to expand by 44.4% ($27.23 billion) in 2022 (from $4.32 billion in 2017).

More than five times as many people will be developing apps as there are IT resources to support them. As a result, there has been an increase in business-created apps.

  • Virtual Reality (VR) and Augmented Reality (AR)

It has been established that VR and AR are the leading technologies with tremendous growth potential. AR uses digital, visual, audio, and sensory technology to enhance the user’s experience rather than immersing them in a virtual world.

An estimated 171 million individuals use VR technology, and the AR market is predicted to grow to $198 billion by 2025. Basic programming abilities and cognitive ability are required for success here.

Since its inception, metaverse has been actively involved in virtual reality (VR) and augmented reality (AR).

  • Internet of Things (IoT)

Internet of Things (IoT) will be a major disruptor of the digital landscape sooner or later. It’s a network of interconnected and sharing gadgets that connect to the internet.

IoT devices include PCs, laptops, smartphones, and things with chips that collect and transmit data over a network. More than 21 billion Internet of Things (IoT) devices are expected to be in use by 2025.

Conclusion

There is a high possibility that more technological trends will be introduced in the coming years. Nonetheless, the above tech marvels aren’t piquing the interest of millions, if not billions, as we speak. So the best thing you can do is get on board to see how it can benefit you.

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