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Which Is The Best Platform To Buy Cryptocurrency?

Crypto traders might choose to trade either raw cryptocurrency or cryptocurrency derivatives or other items. Nowadays, the majority of cryptocurrency exchanges employ blockchain technology, which enables decentralized order books and storage and is more secure due to cryptography’s encryption methods.


Below, we analyze the main crypto trading applications’ functionalities to assist you to find the ideal trading platform for your needs:

5 Top Cryptocurrency Trading Platforms Ranking

Most major cryptocurrency platforms currently in the industry are listed below:


Another of the first marketplaces in the industry to provide 18 complimentary trade robots is Pionex. Individuals may trade automatically around the clock without constantly monitoring the marketplace. This is among the largest Binance traders & combines volatility through Huobi Global & Binance. It provides a selection of robots, including Bitcoin Smarter.


Individual traders may use 18 complementary trade robots from Pionex.
According to the majority of all main exchanges, the trade charge is relatively minimal.
Clients of the Grid Trading Bot are able to purchase cheap & trade expensive within a certain pricing range.
More to 5x pressure is offered by the leveraged grid bot.
Spot-Futures Arbitrage bots aid small-scale investors in generating passive revenue with minimal risk. This strategy’s anticipated return is 15% to 50% APR.
To take advantage of profit swings, the Martingale robot executes DCA buys & one-time sells.
You can keep the funds with the aid of the equilibrium bot.


Having the authorization to conduct business in both Europe and the US, Bitstamp is one of the best 3 authorized platforms in the Eurozone & US platforms. It also serves as a major currency on/off gateway thanks to partnerships with more than 15 institutions that possess secure transaction rails. Clients may obtain price information for popular Bitcoin items, round-the-clock assistance, and specialized account administrators for associates through the platform.


A whopping 95% of the inactive assets.
All commodities that are in safekeeping or movement are covered by BitGo coverage & supplementary criminal insurance.
Inspected by each of those Big Four.
More than 50,000 actions per second can be supported by a flexible matching trade engine.
A quick on/off ramp for paper money.


Utilizing manual, automatic, or duplicate trade robot orders, investors may sell cryptocurrencies, stocks, CFDs, plus more than 90 other monetary commodities plus tools on the NAGA application and NAGA platform. Anybody may use the NAGA software to imitate deals made by professional brokers and profit extra through automated trading. Just look for traders’ profits over the last day, week, month, or year; choose traders, and mimic their strategies.


When acquiring, holding, transmitting, and spending digital currencies, NAGAX also provides cryptocurrency wallets.
Staking cryptocurrency to gain – NAGA cryptocurrency supports 10+ commodities and offers more than 20% APY.
Trade teaching resources for education.
Not accessible in several different nations, including the USA and Australia.
Increase your trades more than 1000 times.


This is a Canadian cryptocurrency marketplace, called CoinSmart. It offers assistance around the clock. It features a thorough character validation mechanism in effect that can identify fraudulent dates of origin or residences. It uses a library that the information-gathering companies have made available. For every coin, customers receive cold storage.  The payments are credited to your wallet the following day they are received.


Two-factor authentication is used by CoinSmart.
For seasoned traders, CoinSmart provides the Professional Trading tool, which incorporates real-time graphing, halting losses, plus restricting orders.
It offers the ability to submit custom purchases using the order book.

Having 10 million subscribers, 3000 workers, plus a presence in 90 countries, boasts a sizable user base. You may use the platform’s cryptocurrency research, analysis, plus educational resources to begin the trading from the beginning or improve as a pro.


With the application of banking accounts plus a Visa card, consumers may purchase more than 250 coins using money. With the card, individuals may avail, handle, & purchase cryptocurrency everywhere there are Visa ATMs or merchants.


Sell cryptocurrencies using ranges up to 10 times the size of your first order.
Unlike needing to liquidate your assets, borrow more than 50% of the cryptocurrency collateral.
Accounts were handled using increased safety.
Trade done over-the-counter.


The finest crypto marketplaces offer customers the to trade a wide range of cryptocurrencies plus process purchases through a number of means. They also offer secure, easy-to-navigate layouts and high activity volumes. There are platforms that provide a combination of equities plus cryptocurrencies, so these represent the ideal choices for diversification for stocks and FX investors.


The post Which Is The Best Platform To Buy Cryptocurrency? appeared first on Coinrevolution.

Bitcoin Proponents Slam Nobel Laureate Paul Krugman After Venmo Payment Issue

Nobel Prize winner Paul Krugman complained on Twitter Wednesday that he was experiencing issues with the centralized payment processor Venmo. His tweet was followed by a barrage of bitcoin supporters who insisted that Krugman was now realizing the importance of censorship-resistant payment systems.

Krugman’s Experience Highlights the Growing Interest in Censorship-Resistant Payment Systems

Nobel Prize winner and author Paul Krugman, who famously wrote in 1998 that “by 2005 or so, it will become clear that the Internet’s impact on the economy has been no greater than the fax machine’s,” had issues with a third-party payment provider. On Wednesday, Krugman announced on Twitter that he was busy but needed to explain the situation.

“Too busy to tweet. But not to vent,” Krugman said. “I’ve been using Venmo for years, but now it won’t allow me to make payments. I spent a long time in chat with representatives, and they told me that they can’t explain why — or fix it. The software has taken control.”

Paul Krugman follows the school of Keynesian economics and has been a long-time skeptic of bitcoin. He was quickly criticized by several bitcoin proponents, including Microstrategy’s Michael Saylor, who insisted that “Bitcoin fixes this.”

One Twitter user even quoted Krugman, asking “Exactly what is [bitcoin] supposed to be doing that we don’t already mostly do?” In the past, the economist has compared the cryptocurrency market to the subprime mortgage crash and is well-known for his skepticism toward bitcoin.

Krugman expressed his frustration with Venmo on Twitter, and the thread quickly became filled with commentary about bitcoin. Despite numerous statements, the economist did not respond to the crypto fans. One individual quoted from the bitcoin white paper, saying “Try a purely peer-to-peer version of electronic cash that would allow online payments to be sent directly from one party to another without going through a financial institution.”

Shortly after Krugman’s first tweet, the economist explained that his tweet helped resolve his issue with Venmo. “And tweeting got results. A representative called and we seem to be up again,” Krugman told his 4.5 million social media followers. Krugman’s experience with Venmo is not unique, as billionaire Mark Mobius recently detailed his own difficulties in getting funds out of HSBC China. Mobius’s issues were also criticized by bitcoin enthusiasts, who pointed out that he should understand the importance of censorship-resistant money like bitcoin.

What are your thoughts on Paul Krugman’s Venmo issues and the criticism he received from bitcoin supporters over his views on cryptocurrency? Share your thoughts on this subject in the comments section below.

Brazilians Will Be Able to Pay Taxes With Crypto

Brazilians will now be able to pay part of their state taxes using cryptocurrencies. Banco do Brazil, a mixed ownership bank, is launching the option of paying a set of taxes with crypto, using Bitfy, a Brazilian cryptocurrency startup, as a payment processor, exchanging the cryptocurrencies paid for Brazilian reals on the fly.

Brazilians Will Have the Opportunity of Paying Taxes With Crypto Using Banco Do Brazil

Cryptocurrencies are making inroads when it comes to their usability in Brazil. Banco do Brazil, one of the oldest banks in Brazil, and in part owned by the Brazilian government, has added the option for Brazilians to pay state taxes with cryptocurrencies using its platform. The bank is using the services of Bitfy, a cryptocurrency payments processor, as a bridge to complete these payments, according to reports.

The company advertises its solution as the first of its kind, stating that the adoption of blockchain technology will optimize public processes, bringing more transparency and credibility to institutions. Lucas Schoch, CEO and founder of Bitfy, stated:

We will drive the adoption of the new defi economy, developing the necessary infrastructure to increase autonomy and democratize the use and access to the digital asset ecosystem throughout Brazil.

Bitfy, which received an investment from Banco do Brazil in November looking to integrate tokenization and payment services in its portfolio, also announced the lineup of cryptocurrencies supported for these payments. Among these are bitcoin, ethereum, decentraland, chainlink, algorand, solana, ripple, polkadot, avalanche, dash, and binance coin, which will have to be deposited on the app wallet to be used.

Payment Processes

This development is possible due to agreements that Bitfy has made with government institutions, expanding the reach of its tax payment tools nationwide. The process of paying taxes with this tool will include the input of a payment number or the scan of a barcode for the payment, which will be processed by Bitfly immediately, exchanging cryptocurrencies for Brazilian reals and transferring them to the institutions.

The announcement brings a new use for cryptocurrencies in the country, after the recent sanction of a cryptocurrency law that opens the door for the inclusion of these assets in more financial activities in Brazil.

Binance is also working to get a share of the crypto payments market in the country, having announced the launch of a prepaid crypto card in January, as part of its expansion push in Latam.

What do you think about Banco do Brazil and the option it gives Brazilians of paying taxes with cryptocurrency? Tell us in the comments section below

This is the best way to trade cryptocurrency

Cryptocurrencies are a new and exciting investment opportunity, but it’s important to do your research before buying in. Cryptocurrencies are very sensitive, and prices can go up and down quickly. There are various cryptocurrencies on the market, so it is important that you choose the one that suits you best. Once you’ve found the perfect cryptocurrency for you, trade the same way you would with regular currencies.

Cryptocurrency – what is it and how does it work?

Cryptocurrency is a digital currency that uses cryptography to secure transactions. Cryptocurrencies are decentralised and do not exist in any physical format, making them more difficult to track and counterfeit. Bitcoin, the most famous cryptocurrency, was launched in 2009 and has since grown rapidly in popularity. Cryptocurrencies are often used by people who want to do business outside of the traditional banking and financial system, as the transactions cannot be traced back to any specific person or organisation.

What does the future look like for cryptocurrencies?

It is difficult to say what the future holds for cryptocurrencies, as there are many different factors that can affect their development. Cryptocurrencies have the potential to be a very big part of the future, but there are also risks with them. It is important to think through all aspects of cryptocurrencies before investing in them. And since digital currencies are not regulated by the big banks, they do not have the same protection as fiat currencies should something unexpected happen in the market. It is something that everyone should take into account when thinking about crypto investments. 

With this in mind, it is important to never invest money you cannot afford or to borrow money to make these investments. It could end in big and troublesome problems both now and in the future.

Cryptocurrencies – A Beginner’s Guide

Cryptocurrencies are digital currencies that use cryptography to secure transactions. Cryptocurrencies are not regulated by any central authority, and there are several different types of cryptocurrencies. 

Bitcoin is the most famous cryptocurrency, but there are also other types of cryptocurrencies, such as Ethereum, Litecoin and Ripple. Cryptocurrencies work in the same way as regular currencies, but there are some differences. 

Cryptocurrencies are mostly used for internet payments, and you can trade them in the same way as you trade regular currencies. However, cryptocurrencies are not as stable as regular currencies, and the value of a cryptocurrency can fluctuate greatly daily..

What is a good cryptocurrency trading strategy?

There is no one strategy that is best for every situation, but there are some basic principles that can help you succeed in cryptocurrency trading. First of all, you need to learn how the market works, and this means that you need to read a lot of information about cryptocurrencies. 

This can be difficult because there is a lot of technical information that can be difficult to understand. This is why it is important that you find a good resource to learn more about cryptocurrencies. Another important aspect of cryptocurrency trading is risk management. 

You have to be prepared to take some risks when trading, which is why it’s important to have a good risk management strategy. There are several different ways to manage risk, and you need to choose the method that suits you best. Finally, you also need to make sure that you have a good plan for how you will invest your money. There are several types of investments, and you need to choose the type of investment that suits you best.

What are the risks of trading cryptocurrency?

Cryptocurrencies are very risky investments. They are not regulated by any central authority, and there is no guarantee that you will actually get back the money you invest. Cryptocurrencies are also very sensitive, which means that prices can fluctuate greatly, both up and down. 

This feature makes it difficult for investors to know when to sell or buy the currency, and there is always a risk of losing money. There are many different cryptocurrencies, and it is important to do your due diligence before investing in any of them. One should also be aware that cryptocurrency trading is highly speculative, and there are no guarantees of profit.

The post This is the best way to trade cryptocurrency appeared first on CoinJournal.

Turkey Seizes $40 Million in Crypto, Detains 46 Suspects in Criminal Investigation: Report

Turkish authorities have reportedly seized $40 million in cryptocurrency and detained 46 people in an illegal betting investigation. “This operation came out of Turkish Cyprus and is linked to the murder of Halil Falyalı,” Turkish Minister of Interior Süleyman Soylu said.

Turkey Confiscates $40 Million in Cryptocurrency

The Office of the Ankara Chief Public Prosecutor’s Smuggling and Organized Crime Investigation Bureau issued an order detaining 46 suspects and confiscated $40 million in cryptocurrency Wednesday, the Daily Sabah reported.

The detention and seizure were part of an illegal betting investigation in eight provinces: Ankara, Batman, Bingöl, Kayseri, Kırıkkale, Muş, Van, and Yozgat.

The suspects allegedly mediated the transfer of illegally obtained funds to the crypto accounts of a criminal organization that includes Halil Falyalı and his wife.

Betting and casino tycoon Halil Falyalı was shot dead on Feb. 8 in an armed assault near his house in Kyrenia, a city on the northern coast of Cyprus. He allegedly led the illegal betting business that is being investigated, the publication conveyed, adding:

A net amount of TL 2.5 billion [$134.5 million] worth of cryptocurrency was transferred to the cryptocurrency accounts of a group of 11 people, including Falyalı and his wife.

“Around $40 million of crypto assets, which were detected to be transferred to crypto asset exchanges in the country and abroad, were seized,” the publication further detailed.

Noting that “This operation came out of Turkish Cyprus and is linked to the murder of Halil Falyalı,” Turkish Minister of Interior Süleyman Soylu said:

A transfer of approximately TL 2.5 billion of money occurred. Approximately $40 million of money has been confiscated at the moment. But this is just the beginning.

According to several Turkish news outlets, bitcoin (BTC) and tether (USDT) were seized.

What do you think about Turkish authorities seizing cryptocurrency? Let us know in the comments section below.

Bitcoin Added to the Guinness Book of World Records as the ‘First Decentralized Cryptocurrency’

Since 1955 Guinness World Records (GWR) has published a reference book annually that covers world records from extreme natural events to human achievements. This year, Bitcoin has entered the fray as the world’s first and most valuable cryptocurrency network as GWR has added the subject to this year’s annual records.

Satoshi Nakamoto’s Bitcoin Enters the Guinness Book of World Records

Satoshi Nakamoto’s cryptocurrency and blockchain network, Bitcoin, has received a number of accolades over the years, and it’s been recognized by mainstream media sources and traditional mediums. For instance, in 2016, the word “bitcoin” was added to the Merriam-Webster Unabridged Dictionary, and two years later it entered the Scrabble lexicon. This year, Guinness World Records (GWR) has given recognition to Satoshi Nakamoto’s invention as bitcoin is considered the “first decentralized cryptocurrency.”

Guinness World Records has been formally recording records from various human achievements and extreme natural events for 67 years. Records show the first edition of Guinness World Records was the top book on the best-seller list in December 1955. The book still features a significant catalog and verification of world records tied to numerous acts and record-breaking achievements. The idea of creating a book of records originally derived from the managing director of Guinness Brewery, Sir Hugh Beaver.

While It’s an Achievement for Bitcoin, Guinness World Records Summary Contains Errors

The summary of bitcoin featured in the latest Guinness World Records describes how the project’s white paper was published online in 2008, and the Guinness authors say Bitcoin was “developed as a solution to the challenge of regulating a digital currency without any centralized organization, or ‘trusted third party,’ to oversee transactions.” The GWR authors further detail that the network Satoshi Nakamoto created solved the double spending problem. The 2022 GWR record states:

The Bitcoin network [solves] the double spend problem with a “trustless” mechanism that does not require any third-party (e.g., banks) to verify transactions; and it achieves that with validators (i.e., miners, in PoW.) Miners are computers dedicated to the network to validate all transactions and prohibit any bad actors.

The category GWR researchers put Bitcoin in is “first,” as in the “First decentralized cryptocurrency.” The date recorded for the record-breaking “first” is January 3, 2009, the day Bitcoin launched. While the GWR addition is an achievement, some of the factoids provided by GWR researchers are wrong.

For example, it has recorded the wrong date of publication for the original Bitcoin white paper which was on October 31, 2008, and it erroneously cites Satoshi Nakamoto as having 600,000 BTC in a single wallet that “has been inactive for more than a decade.” This information is factually incorrect as Nakamoto’s stash does not reside in a single wallet and the BTC held by the inventor is estimated to be around 1 million BTC as opposed to the 600,000 BTC quoted by GWR.

What do you think about Bitcoin being added to the Guinness World Records list as the first decentralized cryptocurrency? Let us know what you think about this subject in the comments section below.

Duh? Bitcoin? Study Shows Over 60% Of Global Population Are Ignorant About Crypto

Bitcoin and cryptocurrencies, they’re not for everyone. At least, in the “knowledge” department. Despite their massive popularity, still, not everyone have heard – or know – about them. 

More and more people, organizations, and private companies are joining the bandwagon and getting involved in cryptocurrency. That’s not surprising.

At the same time, more people are also unaware that crypto exists. And that can be surprising.

Thus, talking about Bitcoin could sometimes get a bit out of hand especially now that a recent research shows over 60% of the world’s population have no idea what cryptocurrency is.

After all, it’s better to talk about the highly volatile asset class when those who listen know what is being talked about.

Study Uncovers Sad Truth About Crypto

Consumer insights provider Toluna conducted a research that involved 10,500 individuals coming from four regions and 19 markets, aged 18 to 64 years old.

The study found out that Bitcoin and its fellow cryptocurrencies are the second most popular types of investment next to stocks after 57% of the respondents said they were aware of the asset class.

Interest in #cryptocurrency has continued to grow over the past decade, and it’s beginning to find footholds in our daily lives.

Download wave two of our global #consumeropinion report here: #digitalcurrency #consumerinsights #marketresearch

— Toluna Corporate (@TolunaCorporate) October 11, 2022

Despite this positive development for the digital currency space, a deeper dive into the result of the survey revealed 60% of those who participated did not understand what crypto is. Moreover, 28% of those surveyed said cryptocurrency is not a secure investment. 

Additionally, 32% of the 10,500 respondents said they haven’t made any investment into the asset class as they lack full understanding of the full operating mechanism of cryptocurrencies.

The Toluna survey also confirmed that emerging countries are more welcoming of bitcoin and other cryptocurrencies.

Cryptocurrencies: Winning The Trust Of The Masses

In an article written by Geri Mileva of online publication Influencer Marketing Hub, some essential cryptocurrency statistics that appear to be the driving force for the asset’s rise in popularity were shared.

In July of this year, the entire crypto market cap stood at $1.76 trillion. Such a milestone value was possible to achieve as confidence towards cryptocurrencies was almost 100%.

Bitcoin showed amazing appeal to Millennials as they see it as a “safe haven asset.” The crypto king, however, has been struggling for the past weeks. At press time, according to Coingecko, BTC is changing hands at $19,092, down by 5.3% in the last seven days.

Meanwhile, despite a significant drop in crypto prices, investors remain upbeat about cryptocurrencies. 

Paying with Cryptocurrency survey conducted by BitPay and PYMNTS revealed an interesting reason behind the unwavering involvement of investors in the crypto space.

About 50% of the respondents said their motivation is the prospect of making money or earning profit from their crypto investment. 

Interestingly, 15% of those surveyed said they purchase cryptocurrencies due to fear of missing out (FOMO).

BTC market cap at $364 billion on the daily chart | Featured image from English 9 Vocabulary, Source:

Formula 1 gets more involved with digital currency and NFT

Formula 1 has been showing interest in digital assets and blockchain technology for quite some time now, and after the initial attempts to get involved with it, it appears that it is finally ready to take some more serious steps towards it. In fact, it recently filed new trademarks related to cryptocurrency, and more than that — the non-fungible tokens (NFTs).

Formula One has filed 8 trademarks for “F1” covering:

🏁 Cryptocurrency + NFTs
🏁 NFT + Crypto marketplaces
🏁 Retail stores for virtual goods
🏁 Blockchain financial transactions
🏁 Cryptocurrency trading + mining
… and more!#NFTs #Metaverse #Cryptocurrency #Web3 #F1

— Mike Kondoudis (@KondoudisLaw) October 10, 2022

F1 is getting deeper into NFTs, crypto, metaverse, and more

One of the filings has revealed that the racing giant intends to offer software that would use digital currency, NFTs, and digital collectibles. The new software would also allow users to make payments using crypto and conduct exchange transactions. A different filing mentioned offering retail store services that would deal in digital goods.

In other words, the filings indicate that Formula One seemingly plans to launch its own online marketplace for fans around the world. Not only that, but the marketplace would be fully crypto-optimized, allowing buyers and sellers alike to use digital assets instead of fiat money.

Other plans revealed by the filings show that the racing giant would facilitate financial transactions using blockchain technology and even get involved with cryptocurrency mining. However, that is not all, as Formula One also expressed interest in offering entertainment services. These would also rely heavily on virtual goods, including NFTs, and even mixed-reality environments and full-scale online virtual worlds.

The filings clearly indicate that Formula One is no longer shying away from blockchain technology and its products and that it has an interest in running an exchange, an NFT marketplace, a crypto-based store for goods of all kinds, and even metaverse technology. There are even hints of including an intellectual property licensing service related to crypto.

This is also not the first time that F1 has filed an NFT-related trademark. The previous one was seen less than two months ago, in late August, and it involved the upcoming Las Vegas Grand Prix event.

Racing teams are getting heavily involved with crypto

Individual racing teams, such as McLaren, have also expressed interest in crypto and blockchain over the years, and more so than ever in recent times. For example, in June, McLaren revealed that it is teaming up with Tezos, which is among the more prominent blockchain projects. Before that, in February of this year, a memecoin project Floki Inu also made headlines by joining a group of cryptos that are forming motor racing collaborations.

Floki Inu teamed up with Alfa Romeo F1. And, it is also worth remembering that in April, major crypto exchange FTX teamed up with Mercedes-AMG Petronas.

However, while this sounds great on the surface, the regulators have not been particularly happy about these kinds of deals. In fact, in April, Formula 1 teams were asked to stop using crypto-related branding during the French Grand Prix, as it is against the local advertising rules. But, while not everyone is happy about the new line of partnerships, it is undeniable that the racing teams, and in fact this entire industry, are more than interested in emerging technologies and digital assets.


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Can your advisor tell you which crypto to buy?

Whether it is rising or falling, bitcoin attracts a lot of attention: In 2021, 94% of financial advisors answered client inquiries about cryptocurrencies, according to a Bitwise and ETF Trends poll. According to the same survey, 47% of advisors had cryptocurrency assets in their personal portfolios. However, only 16% of advisors have cryptocurrency allocated in client accounts.

Even while investors are interested in holding cryptocurrency, advisors may seem reluctant to suggest the category of digital assets. Whether your adviser will assist you with your cryptocurrency investments will rely on how they feel about the future of cryptocurrencies, the resources they have at their disposal, as well as your risk tolerance and financial objectives.

In this article we explain why your advisor might be hesitant to suggest cryptocurrency, what questions to ask your advisor about cryptocurrency, and what to do if your advisor refuses to offer advice on investing in cryptocurrency.

Basics of Crypto Investment

In order to ask better questions and be more equipped to evaluate the answers, you should first comprehend the environment of cryptocurrency investing.

First, there are several ways to invest in the blockchain and cryptocurrency industries. Real digital currencies like bitcoin and ether are available for purchase, although you don’t need to buy them directly. Indirect exposure to cryptocurrencies is also possible through specific stocks, such as:

Coinbase, a cryptocurrency trading and wallet service.
The Block digital payments startup. Bitcoin trading is supported by Block’s Cash App
Analytics firm MicroStrategy (MSTR ). The business’ balance sheet shows a significant bitcoin investment.

As an alternative, you might invest in exchange-traded products related to cryptocurrencies. Some cryptocurrency funds simply invest in crypto equities, whereas others track the value of various cryptocurrencies and/or derivatives contracts.

Why Some Financial Advisors May Be Wary of Cryptocurrency Recommendations

Sadly, for a number of reasons, your advisor could refrain from advising direct or indirect exposure to cryptocurrency. He or she might lack the knowledge or the time to keep up with the rapidly evolving crypto world. Or perhaps the risk profile of cryptocurrencies bothers your counsel. After all, advising a highly volatile asset might put advisors in awkward situations. Most of the time, clients will either be thrilled or furious. Both extremes are undesirable.

The pay of advisors is a different problem. The major brokerages do not (yet) support trading in cryptocurrencies. You might have to carry out the trades yourself if your advisor advises holding digital currency directly. Additionally, any generated crypto assets would be kept in a separate account from the advisor’s control.

In that case, your advisor’s compensation for providing cryptocurrency advice is either zero or negative. When you remove money to purchase cryptocurrency, your advisor’s annual income would decrease if they charge a percentage fee based on the amount of your account. Furthermore, commission-based advisors won’t make any money on those trades.

For adding crypto supervision to your service offering, your financial advisor most likely doesn’t want to charge less or even stay at the same rate.

Ask Your Current Financial Advisor These Questions About Crypto

The easiest approach to determine whether your financial advisor is willing to manage your crypto assets is to ask them questions. Start by asking general questions to gauge the response. If your advisor doesn’t end the conversation, then be more detailed. For instance:

* What do you think of cryptocurrency?

There are numerous potential solutions to this. Some financial experts compare trading cryptocurrencies to gambling. Others believe that during the next five to ten years, the value of bitcoin will soar.

* Can you describe how crypto works?

A knowledgeable advisor with experience in crypto should respond with a thorough explanation.

* What degree of cryptocurrency exposure would you advise?

Unless you want aggressive, high-risk investing, you should anticipate a single-digit percentage here.

* Which strategy for investing in cryptocurrencies is best?

Instead of having a single response, this question ought to spark a dialogue. If your advisor doesn’t already know you well, they’ll want to know more about your goals and the reasons you’re interested in investing in cryptocurrencies.

* Can you handle my cryptocurrency assets?

Advisors may manage your crypto holdings using technologies like HeightZero and Onramp Invest. They are referred to as TDAMPs, or turnkey digital asset management platforms. These are mostly intended for freelance cryptocurrency advisors. They can significantly speed up the advisory process.

* Describe the services you can provide in relation to investing in cryptocurrencies.

A pro-crypto advisor should inform you of your investment possibilities, provide a target exposure level for your crypto holdings, and explain how that level will effect your current exposure levels. Additionally, you want a financial advisor who is at ease recommending that you buy, sell, or hold cryptographic assets. The advisor should ideally be able to examine and handle your crypto assets directly if they have the necessary tools.

* Taxation on cryptocurrency transactions?

Your cryptocurrency transactions are taxed similarly to stocks in the US. Depending on how long you possessed the asset, you will either pay the short-term or long-term gains tax rate when you record a gain. Your advisor ought to advise you to carefully document all of your transactions. Working with someone who advises hiding your cryptocurrency trading activity is not something you want to do.

Should Your Advisor Not Suggest Crypto

You have two choices if your existing counsel won’t assist you with cryptocurrency. You are able to trade alone. You might work with a consultant for a short while who can teach you about cryptocurrencies and investing in them. Search for cryptocurrency consultants, advisors, professionals, or experts to locate these experts.

The second choice is to look for a new advisor with knowledge of cryptocurrencies. One of the best methods to find money managers who are pro-crypto is by using industry designations. The Certified Digital Asset Advisor (CDAA) and the Certificate in Blockchain and Digital Assets are two titles to be aware of (CBDA).

1. Certified Asset Advisors for Digital Assets

The curriculum for certification in bitcoin, ether, blockchain, crypto wallets and exchanges, as well as crypto legislation and compliance, consists of 12 hours. They must also maintain their education. Here, you can perform a CDAA search.

2. A certificate in digital assets and blockchain

The Digital Assets Council of Financial Professionals offers a program called “Certificate in Blockchain and Digital Assets” (DACFP). It’s for financial advisors who want to advise their clients on cryptocurrency investment methods. Holders of certificates are required to finish 11 learning courses and sign an ethical code each year.

Online searches for CBDA certificate holders are not yet available. However, you can phone the DAFCP to find out if someone has a CBDA accreditation. Be ready to conduct many applicant interviews. You want someone who is knowledgeable about personal finance in general, traditional investments, and cryptocurrencies. Additionally, the ideal counselor would be dependable and approachable. Find out more about screening potential financial advisors here.

Working with a Crypto Advisor

The function that cryptocurrency plays should ultimately be determined by your financial plan. Unless you have a compelling reason not to, follow your advisor’s advice in this situation. Don’t disregard their counsel if they claim that cryptocurrency is too volatile for you and your objectives.

For the time being, you can always trade tiny quantities of cryptocurrency alone. Over the coming years, it’s probable that both the tools accessible to advisors and the crypto industry as a whole will develop and mature. When cryptocurrency is a more widely used asset class, you can discuss it again with your advisor.


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