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How to identify a viable crypto for investment

The cryptocurrency market is flooded with thousands of coins. Whereas a number of these coins are smart for investors, so many other coins are worthless. The purpose of putting this on ink piece is to spotlight some of the key factors that crypto investors ought to take into account before creating their investment.

(i) Means of exchange: This money is used for legitimate trading. Something generally accepted as a medium of exchange for goods and services. Usually, when the initial offer of coins ends, they are listed on major stock exchanges where it will trade, and also on the market cap of the coin or the index of the coin. Any coin that is incapable of use as a means of exchange should be avoided.

crypto

(ii) Coin swap: Just like the fiat currency of the dollar against the euro or the pound sterling, etc., Any currency that cannot be exchanged (swap) between existing currencies such as Bitcoin, Ethereum, etc. is not money and therefore should be avoided.

(iii) Utility: What is the meaning of money if it cannot be useful for buying goods and services? Today, the telecommunications and e-commerce industry’s net worths are growing very rapidly. Any coins that are accepted in these two industries will rise in value in a short period of time.

crypto

(iv) Minability: Mining is a very important factor when testing a coin or considering its viability. The blockchain of any genuine coin will permit the usage of a computer in cold weather where the coins are mined.

These are some of the important factors that influence the decision of prudent crypto investors.

Bitcoin Rally 60% From July Low May Wear Out

Bitcoin’s breakout above the $ 50,000 mark didn’t last long, and chart patterns suggest that its rally has threatened to fade since July.

The largest cryptocurrency fell as much as 4.9% to $ 46,322 on Thursday, with other tokens, including Ether, falling along with the Bloomberg Galaxy Crypto Index. The decline reduced bitcoin’s rally from a July 20 low to around 60%.

Bitcoin was trading at $ 47,342at 10:10 AM. In New York.

John Bollinger, the inventor of the BollingerBands, suggested in a tweet to take or secure a profit. Katie Stockton of Fairlead Strategies namedDeMark’stime-to-market indicators as two-week”side-by-side” price indicators.




Two Charts To Help Summarize Bitcoin’s Current Situation.

Reduction in bandwidth
Reduction in Bollinger bandwidth on negative RSI


The narrowing of the BollingerBandsis a popular technical indicator that highlights volatility and indicates that the rally of Bitcoin is declining and the virtual currency machine has a resistance zone of 50,000 to 51,000 US dollars. the median line of the Bollinger study is around $ 46,700.

Time to Watch: $ BTCUSD Look closely, you might make some profit or hedge a little … Aggressive traders may be thinking about taking short positions. The Hodlers can watch, they can watch on lower levels when we see them. No confirmation yet, just stay tuned. #Bitcoin
crypto
A point-and-figure analysis highlighting price direction with no time dimension shows that Bitcoin is faced with the challenge of scaling the level around $ 50,940 on a closing basis. the bearish case.

Over 50 Nigerians trained by the US…

More than 50 Nigerians have been trained by the USin the fight against crypto crime

The US authorities have trained more than 50 Nigerian investigators and prosecutors in the fight against the organized crime enabled by cryptocurrencies

This was contained in a tweet posted Thursday via the United States Department of Justice’s verified Twitter account.

The training, which was held virtually, focused on improving Nigerian researchers’ ability to research cryptocurrencies.

The webinar was a collaboration with the US Federal Bureau of Investigation. Embassy in Kenya Addis Ababa, the US Embassy in Nigeria and the US government on policies and programs to combat narcotics and international crime.

“@ TheJusticeDept’s #OPDAT @StateINL funded the ICHIPs in @USEmbassyAddis and @USinNigeria and @FBI and @US_AU offered a cryptocurrency fundamentals webinar to more than 50 researchers and prosecutors in Nigeria to demonstrateNigerians’ ability to study cryptocurrencies improve. “The tweet reads.



Cryptocurrencies
Cryptocurrencies are digital or virtual currencies such as Bitcoin and Ethereum and others that can be used to buy goods and services.

They are also marketed for a profit.

Because they are unregulated and do not require physical bank vaults, they provide criminals with a relatively safe haven from which to launder the proceeds of corruption, fraud, drug trafficking, and other heinous crimes.

There are also security concerns among many sophisticated scammers who can hack into digital vaults to steal from their owners.


A study by Whitestream, an Israel-based blockchain analytics firm, viewed Nigeria’s trading hub as a “focus” for crypto fraud from Africa.

Research has shown that many scammers create a lavish life personality that is drawn from the wealth created through cryptocurrency investments to attract unsuspecting victims.


The Central Bank of Nigeria (CBN) banned commercial banks and other financial institutions from trading cryptocurrencies for fear of risk to investments and the wider economy.

crypto

In support of the essence of the ban, CBN’s acting communications director, Osita Nwanisobi, stated in a February statement that the cryptocurrency transaction was not adequately regulated and was prone to financial crime in the country.


The central bank said its decision was based on “the significant risks associated with cryptocurrency transactions: risks of investment loss, money laundering, terrorist financing, illicit cash flows and criminal activity.”

  • bitcoinBitcoin (BTC) $ 20,419.00 0.39%
  • ethereumEthereum (ETH) $ 1,161.98 0.74%
  • tetherTether (USDT) $ 0.999708 0.15%
  • usd-coinUSD Coin (USDC) $ 1.00 0.01%
  • bnbBNB (BNB) $ 238.43 2.58%
  • binance-usdBinance USD (BUSD) $ 1.00 0.78%
  • xrpXRP (XRP) $ 0.328779 0.85%
  • cardanoCardano (ADA) $ 0.462038 0.6%
  • solanaSolana (SOL) $ 36.38 1.23%
  • dogecoinDogecoin (DOGE) $ 0.068433 0.01%
  • polkadotPolkadot (DOT) $ 6.89 0.37%
  • daiDai (DAI) $ 1.00 0.05%
  • tronTRON (TRX) $ 0.067469 1.62%
  • shiba-inuShiba Inu (SHIB) $ 0.000010 0.02%
  • leo-tokenLEO Token (LEO) $ 5.81 1.52%
  • avalanche-2Avalanche (AVAX) $ 19.03 5.33%
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 20,408.00 0.26%
  • staked-etherLido Staked Ether (STETH) $ 1,129.24 0.83%
  • matic-networkPolygon (MATIC) $ 0.516051 1.04%
  • litecoinLitecoin (LTC) $ 50.35 0.73%
  • ftx-tokenFTX (FTT) $ 26.13 2.33%
  • okbOKB (OKB) $ 12.61 0.1%
  • crypto-com-chainCronos (CRO) $ 0.118305 0.87%
  • chainlinkChainlink (LINK) $ 6.32 1.27%
  • stellarStellar (XLM) $ 0.109591 0.29%
  • cosmosCosmos Hub (ATOM) $ 8.96 1.15%
  • nearNEAR Protocol (NEAR) $ 3.51 1.27%
  • uniswapUniswap (UNI) $ 5.39 0.52%
  • moneroMonero (XMR) $ 125.66 1.87%
  • algorandAlgorand (ALGO) $ 0.310091 1.11%
  • ethereum-classicEthereum Classic (ETC) $ 15.14 0.11%
  • bitcoin-cashBitcoin Cash (BCH) $ 105.45 0.93%
  • theta-fuelTheta Fuel (TFUEL) $ 0.050717 0.15%
  • chain-2Chain (XCN) $ 0.087001 3.44%
  • vechainVeChain (VET) $ 0.023590 2.45%
  • flowFlow (FLOW) $ 1.60 0.19%
  • the-sandboxThe Sandbox (SAND) $ 1.26 4.85%
  • apecoinApeCoin (APE) $ 5.03 1.96%
  • decentralandDecentraland (MANA) $ 0.917456 2.81%
  • tezosTezos (XTZ) $ 1.53 2.47%
  • fraxFrax (FRAX) $ 1.00 0.01%
  • internet-computerInternet Computer (ICP) $ 5.56 1.22%
  • hedera-hashgraphHedera (HBAR) $ 0.062237 0.28%
  • filecoinFilecoin (FIL) $ 5.55 0.33%
  • elrond-erd-2Elrond (EGLD) $ 54.84 0.24%
  • axie-infinityAxie Infinity (AXS) $ 14.75 0.14%
  • theta-tokenTheta Network (THETA) $ 1.23 1.02%
  • true-usdTrueUSD (TUSD) $ 1.00 0.12%
  • bitcoin-svBitcoin SV (BSV) $ 54.14 0.86%
  • eosEOS (EOS) $ 0.995306 1.18%