Mastering Emotions and Managing Risk in Cryptocurrency Trading

Mastering Emotions and Managing Risk in Cryptocurrency Trading

When it comes to trading, there are several steps you can take in order to reduce your exposure to the market extremes of price volatility. A combination of both technical and fundamental analysis can be used to determine the true worth of a company or asset, securing a greater chance of success with a particular investment while reducing your risk along the way. But for that, you need a plan. Mastering your emotions Developing a successful risk management plan is paramount in minimizing unexpected outcomes, translating into an overall reduction in your losses. A successful risk management plan should also run parallel to your crypto trading journal records, working in conjunction to curb poor trading behavior while simultaneously justifying your fundamental expectations.  Sometimes temptation leads to poor choices and it is no more on display than a market driven by fear and greed. By reducing harmful or negative trading habits, one can hope to increase profit without putting too much on the table. A key component of a successful risk management plan is determining what kind of trader you are and where your skills currently lie: “I usually break even” – When this occurs it could be a sign that your risk management is effective, however, you are also too risk averse and will fail to capitalise on anything substantial or you are barely able to cover trading fees. “I make a small profit” – When this occurs it could be a sign that your risk management is effective, however, it is also an indication that you aren’t letting your trades run. It is usually driven by emotionally charged decisions made in haste, such as closing a position too early because of what is known as “weak hands.” “I make a large profit” – When this occurs it is a sign that your risk management strategy is working well and that you have reached a pinnacle in risk aversion by applying trading sizes to the appropriate risk. It is usually an indication that you close positions at predetermined prices and let others run their course. “I usually lose” – When this occurs it could be a sign that you have limited understanding of market cycles, need to further your research on the asset class you are…

5 of the Best Crypto Swapping Services

5 of the Best Crypto Swapping Services

Creating an exchange account, signing in and placing an order every time you want to switch cryptos is like using a sledgehammer to crack a walnut. It’s an incredibly inefficient way to jump between cryptos, and given that no exchange has all the coins, it necessitates creating multiple accounts, with the added verification and security risks this entails. Crypto-swapping platforms promise to do the hard work for you, plugging into exchange APIs and exchanging coins on your behalf. Also read: Swedish Government Auctions Cryptocurrency Again Swapy Swapy claims to offer the best exchange rate possible without the need to manually place buy/sell orders. It manages this by combining over 10 exchanges to give users more low-cap and low liquidity tokens at spot price. Currently, you can swap BTC, ETH and USDT into over 70 different tokens, from XEM and REM to BCH and DASH. All of the exchange flows to your wallet can be tracked on-screen. What’s nifty about Swapy is that it charges a fee only on the amount users will save relative to competitor services. In other words, Swapy only gets a cut of what you save on a swap, doing away with a flat fee entirely. Holders of REM tokens can further increase their discount level by up to 90%. Account registration is necessary with Swapy, but only if you’re looking to claim the maximum available discount. Changenow Changenow only entered the marketplace last year, but has captured a significant share of the market already. The fact that it enables purchases to be made with credit card is a useful feature that’s unusual to see with crypto-swapping services. The platform enforces AML/KYC: if a transaction is marked as suspicious, the exchange is paused and the customer is asked to confirm their identity. Changenow imposes no limits on exchanges and more than 170 coins can be converted, from BTC and ETH to BCH, LTC and more niche altcoins. All transactions take under 15 minutes to complete, and a fee of 0.5% is incorporated into the exchange rate you pay. ChangenowChangelly Changelly is one of the best-known platforms, delivering a fixed-rate mechanism that protects against the risk of market fluctuations when tokens are being swapped. Changelly claims the stability is assured by integrating a…

Slovenia Has the Most BCH-Accepting Physical Locations Worldwide

Slovenia Has the Most BCH-Accepting Physical Locations Worldwide

Bitcoin Cash (BCH) merchant adoption continues to grow, but in certain regions worldwide like Australia, Japan, and New Hampshire, BCH acceptance is swelling. As each area pursues BCH adoption in a variety of unique ways, the Republic of Slovenia has seen massive retail approval as the payment processor Eligma has relentlessly spread crypto awareness throughout the country. On Thursday, Eligma announced the company’s Gocrypto service now serves 500 mostly physical merchant locations. Also read: Bitcoin Cash Adoption Continues to Spread in North Queensland and Japan While Digital Currency Acceptance in Slovenia Swells, Ljubljana Startup Eligma Reaches 500 Crypto Supporting Retailers Worldwide The southern Central European country Slovenia currently has the most bitcoin cash acceptance worldwide. There are roughly 2 million residents living in Slovenia and digital currency acceptance in the country is thriving. Last year, cryptocurrency fans were introduced to “Bitcoin City,” a 475,000 square-meter shopping and financial center located in Ljubljana. The shopping complex implemented a significant amount of crypto adoption thanks to the payment service Eligma which facilitates seamless and secure crypto payments via its products Elly and Gocrypto. There are 432 BCH supporting retailers in Slovenia according to Marco Coino.Soon after, Eligma continued bolstering digital currency adoption throughout Slovenia and started getting lots of merchants onboarded in Croatia as well. In September, Eligma raised €4 million in funding from investors like the Pangea Blockchain Fund and Bitcoin.com. A few weeks later, Eligma launched its payment infrastructure Gocrypto and on October 10 the startup revealed it now has 500 locations using the Gocrypto framework. The majority of the 500 Gocrypto merchants are located in Slovenia. “After officially entering the market last September, our Gocrypto infrastructure has reached a fantastic milestone: 500 mostly physical Gocrypto locations in several countries,” Eligma explained on Thursday. “In this, Slovenia, our home base, has become the country with the highest number of physical locations accepting crypto in the world.” Man @BTC_City in #ljubljana is amazing. They accept #Bitcoin in so many stores, restaurants, beauty and cosmetics , entertainment etc that they can truly call themself BTC City. Subscribe to our youtube to soon see the video! 🔥🚀🔥 #thebitcoinfamily #sharingiscaring pic.twitter.com/Ktl8TIf2Ct — ₿ Didi Taihuttu ₿ (@Diditaihuttu) September 3, 2019 Geo-location application Marco Coino, an app that locates bitcoin…

4 New High-Powered Bitcoin Miners Revealed

4 New High-Powered Bitcoin Miners Revealed

Bitmain Technologies and Canaan Creative have announced new mining rigs that process roughly 58-73 terahash per second (TH/s). Sources also reveal that Canaan’s initial public offering (IPO) could be listed in the U.S. next month. Also Read: Mining Firm Canaan Creative Secures Hundreds of Millions of Dollars in Funding Bitmain and Canaan Introduce Bitcoin Miners That Process 70 Terahash per Second The 2019 World Digital Mining Summit (WDMS) has finished after hosting a large event filled with digital currency miners from all around the world. Many businesses and mining operations attended like Bitmain, Genesis Mining, Bitcoin.com, Btc.com, Btc.top, Viabtc, and Poolin. During the summit, Bitmain revealed two new miners that process hashrate speeds of up to 70+TH/s. Bitmain Technologies founder Jihan Wu at the World Digital Mining Summit (WDMS).Bitmain announced the new Antminer S17+ with 73TH/s and with a power efficiency rating at roughly 40 joules per terahash (J/TH). The China-based manufacturer also revealed the Antminer T17+, which claims to process 64TH/s and uses around 50 J/TH. Bitmain’s S17+ costs around $2,833 and the company says units will ship during the first week of December. The T17+ is shipping out at the same time and the lower end model pre-order prices are $1,802 per unit. The new Antminer S17+ packs 73TH/s and 40 joules per terahash (J/TH).Canaan’s newly announced miners include two Avalonminer models called the A1146 and the A1166. Unlike Bitmain’s new Antminers, the Avalonminer A1146 and A1166 are not yet available for purchase on the company’s website and customers can only buy the 10 series at the moment. Canaan recently launched its 1066 models, which claim to process 50TH/s and pull 3,250 watts from the wall. The pre-ordered 1066 models will ship in November, according to the website, and cost $1,390 per unit. Canaan showed off its new 11 series models at the New Era Mining Summit hosted by the mining operation Poolin.The high-powered A1146 and the A1166 models were revealed by Canaan at Poolin’s recent mining summit held in Chengdu, China. The entry-level Canaan A1146 series processes at speeds between 58-61TH/s. The professional-grade A1166 performs at 70TH/s with a power efficiency of around 47 watts per terahash. Reports detail that Canaan has not yet revealed prices or what type of chips are…

PoS Will Make Ethereum More Secure Than Bitcoin, Says Vitalik Buterin

PoS Will Make Ethereum More Secure Than Bitcoin, Says Vitalik Buterin

After the proof-of-stake (PoS) consensus algorithm will be implemented in Ethereum’s (ETH) blockchain, it would become more secure and costly to attack than Bitcoin (BTC), co-founder Vitalik Buterin has stated. Buterin has voiced this opinion during Devcon 5, the Ethereum developers conference that took place in Osaka on Oct. 8–11. He specifically noted that — after the transition to PoS — higher cost of a potential attack would make Ethereum the safer network of the two. Some men just want to watch the blockchain burn Buterin started his presentation by talking about Bitcoin and paying homage to its pseudonymous creator Satoshi Nakamoto, noting that he created crypto economics to motivate people to maintain the network. The way the system was designed ensured that attackers would need to spend a great amount of money to successfully compromise the blockchain. Still, Buterin claimed that there was a problem with this architecture, explaining: “What about attackers who have a really large, extra protocol incentive, or just want to watch the world burn? Could be a government. Or hackers that want to have some fun. The critique here says we’re assuming we have these participants motivated by economic incentives. What if there are people who just want to break the thing regardless?” Ethereum’s stake-based security With Ethereum’s PoS implementation, users would lock their Ether in smart contracts to be allowed to validate new blocks, instead of investing great amounts of computing power — and electricity — as they do in PoW systems. If stakers (users who lock their coins) misbehave, their stake (the coins they locked) is slashed. The more Ether staked, the higher are the probabilities that they would end up validating a block. Just like the more hashrate (computing power) a miner has, the higher the likelihood that he mines a block. In the PoS system envisioned by Buterin, there’s a period of time after a validator creates a new block, during which this block can be challenged and potentially proven to contain illegitimate data. Attackers would risk losing large amounts of ETH If sufficient proof is provided, the stake of the dishonest validator is slashed and the challenger is compensated. Buterin explained: “The challenger can submit a transaction that points to [the block in question]. That…

WATCH: Tongtong Gong of Amberdata Talks About Gender In Crypto

WATCH: Tongtong Gong of Amberdata Talks About Gender In Crypto

Tongtong Gong, COO of crypto analytics firm Amberdata, shared what it feels like to be a woman in tech. “I moved to the U.S. and when I moved I didn’t really speak English that well so when I was in college you needed to pick a degree,” she said. “I was so intimidated by English that I asked my advisor which major should I choose so I didn’t have to write papers and he said computer science.” Gong became a technologist and, during the growth of crypto, she turned down BCC’s Bobby Lee when he asked her to help him run the exchange. She said she didn’t join the crypto ecosystem until she found out about ethereum and now her company is expanding into multiple currencies. What’s the key thing she believes that a blockchain developer needs? “Intellectual curiosity,” she said. “First of all, I don’t believe you can be a good developer without the intellectual curiosity and in the blockchain space that’s especially important.” In this interview with Christine Kim, Gong shares her experience as a woman in crypto and what it takes to build an inclusive and supportive ecosystem. Image via CoinDesk Video.

Visa, EBay, Stripe and Mastercard Abandon Facebook’s Libra Project

Visa, EBay, Stripe and Mastercard Abandon Facebook’s Libra Project

Visa, EBay, Stripe and Mastercard have all announced that they are dropping out of Facebook’s Libra Association and its associated stablecoin project. Four companies abandon ship On Oct. 11, Bloomberg reported that Ebay, Stripe and Mastercard had decided to drop out of Facebook’s Libra cryptocurrency project. Within minutes, Visa said it had also decided not to join the Libra Association, according to The Block. The news comes one week after payment processor PayPal announced its withdrawal from the Libra stablecoin project as regulators continue to scrutinize the project. The companies have expressed respect for Facebook’s vision and claim to see continued potential in the project, but chose to redirect their focus for the time being. Cointelegraph previously reported that Visa, Mastercard and Stripe were trying to ensure that Facebook’s crypto project wasn’t harming their relationships with regulators. The three payments giants hinted that Facebook had exaggerated claims that regulators were comfortable with Libra. Stripe initially denied it was considering a U-turn, but said today in a statement: “Stripe is supportive of projects that aim to make online commerce more accessible for people around the world. Libra has this potential. We will follow its progress closely and remain open to working with the Libra Association at a later stage.” Coinbase CEO supports Libra Brian Armstrong, CEO and co-founder of major crypto exchange Coinbase, recently said that he believes that “the way the U.S. government reacted it’s like they almost want to be left behind.” He also echoed his concerns over the United States possibly becoming obsolete due to innovation obstruction, adding: “The way for countries to remain relevant over the long term and continue to have high economic growth is to invest in science, technology, and innovation. If the government can help here, even better. But first it needs to do no harm.”

Founder of Alternative to Facebook’s Libra Exaggerates ‘Partnerships’

Founder of Alternative to Facebook’s Libra Exaggerates ‘Partnerships’

The founder of the OpenLibra project, Lucas Geiger, reportedly misrepresented some of the organizations involved in the project. OpenLibra founder apologized through Telegram On Oct. 11, Coindesk reported that at least four individuals and organizations denied the fact that they support the OpenLibra project. Others are minimizing their involvement in OpenLibra, which aims to become an alternative to Facebook’s Libra. Ethereum developer Lane Rettig excitedly took to Twitter on Oct. 8 to share Geiger’s announcement of OpenLibra at the Ethereum developer conference Devcon 5, in Osaka, Japan, adding: “Seeing #openlibra publicly announced for the first time is sending shivers down my spine. I am so excited about this initiative to ‘lock the door open’ for libra tech.” During the launch, certain names were mistakenly associated with the project, while other names were used without proper permission. Some organizations were presented as members, when, in fact, they have nothing to do with OpenLibra. Geiger later apologized in a Telegram message to Chainlink CEO Sergey Nazorov and Coindesk, saying: “We’ve been in a rush preparing materials, and my team took a list I had of partners and potential partners and put it on the site. It’s removed now. Apologies for the trouble that [this has] caused. I should have reviewed more closely.” Launch of OpenLibra Cointelegraph reported on Oct. 9 that OpenLibra’s developers had released the first version of the proposed alternative to Facebook’s Libra stablecoin. The website explains: “Despite pushback from nation-states, we believe that Facebook is likely to succeed in their goal. OECD Governments will be focused on their own outcomes, and in reality have little legislative power to leverage against a transnational force such as Facebook’s Libra. For that reason we are creating OpenLibra.”

Swedish Government Auctions Cryptocurrency Again

Swedish Government Auctions Cryptocurrency Again

The Swedish Enforcement Authority, Kronofogden, is once again auctioning off cryptocurrency that has been allotted for public sale. The online auction, which is the second of this kind the government agency conducts, starts on Friday, October 11. Also read: Sean Walsh: Cryptocurrencies Can Harness More Human Energy BTC Worth $37,000 Offered to the Public The office of Sweden’s bailiff, the government debt collecting organization, offers potential buyers to acquire 4.59 BTC valued at around 370,000 Swedish krona, or approximately $37,700, according to the current exchange rate. That’s close to $8,200 per coin, while BTC is trading on cryptocurrency markets just below the $8,400 mark at the time of writing. Kronofogden first auctioned bitcoins it had in its custody about two years ago, when the highest bid was placed at 43,000 Swedish krona. That was way above the market value of the cryptocurrency, which was then 27,600 krona, the Swedish outlet Di reminds. The sale was met with great interest. “Many people ask why we auction the cryptocurrency and we don’t exchange it ourselves. The answer is that there is no infrastructure that meets our requirements,” explained Johannes Paulson, a representative of the Swedish Enforcement Authority. “We have to do it in a quality-assured way to know the money isn’t going to be lost,” he elaborated as quoted in a press release. There is a choice of platforms allowing users to purchase cryptocurrencies in a safe and secure way. But auctions conducted by government institutions also provide buyers with undeniable proof of the funds’ origin. In the absence of comprehensive regulations in many jurisdictions, buying crypto from the state is a safe option as the legality of the transaction cannot be questioned by the authorities. Crypto Seized From Debtors Sweden’s Kronofogden, or Kronofogdemyndigheten as is its full name, is responsible for debt collection, distraint, and evictions in the Nordic country. It is the only government agency authorized to withdraw money from debtors’ bank accounts and seize property. “As more people use bitcoin, the likelihood a debtor can also own the currency increases,” the announcement notes. “Property can be found not only on driveways and in living rooms, but also on the internet. Nowadays, we are looking for assets in computers and hard drives as well as…

Gartner: Corporate Blockchain Won’t Take Off for Another Decade

Gartner: Corporate Blockchain Won’t Take Off for Another Decade

For years, all sorts of companies have flooded the media with reports of using blockchain technology for everything from tracking vegetables to fake luxury handbags. These claims mostly involved tests that were done only for the sake of publicity, riding the coattails of cryptocurrency, and almost never about actual products. A new report from Gartner asserts that in reality the enterprise solutions behind these projects are still five to ten years away from making an actual impact. Also Read: Tether Created ‘Largest Bubble in Human History’ Claims Lawsuit Against Bitfinex Gartner: Blockchain Technologies Have Not Lived up to the Hype Gartner, Inc. (NYSE: IT), a research and advisory firm specializing in the financial and IT industries and a member of the S&P 500, recently released a report for its clients titled “Hype Cycle for Blockchain Technologies, 2019.” The report shows that most corporate blockchain solutions are still five to ten years away from having a transformational impact on any industries as the company defines it. For enterprise blockchain solutions to become mainstream, Gartner said users shouldn’t have to worry about picking the right platform, the right smart contract language, the right system interfaces, and the right consensus algorithms. Additionally, the company explained that concerns about how users will interoperate with partners that use different blockchain platforms for their projects must be rectified. “Blockchain technologies have not yet lived up to the hype and most enterprise blockchain projects are stuck in experimentation mode,” said Avivah Litan, analyst and research vice president at Gartner. “Blockchain is not yet enabling a digital business revolution across business ecosystems and may not until at least 2028, when Gartner expects blockchain to become fully scalable technically and operationally.” When Will the Blockchain Hype End? The Gartner report shows that enterprise blockchain is sliding into what the research company defines as the “Trough of Disillusionment” and the market will begin to climb out of this phase only by 2021. According to Gartner, the trough of disillusionment is the third phase of a technology’s “hype cycle” – comprising the period during which interest wanes as experiments and implementations fail to deliver. During this phase, producers of the technology shake out or fail and investments continue only if the surviving providers improve their products…