Month: September 2022

Review of Crypto Fee’s Open-Orgs

    James Bidman

The crypto market is a moving target.

Just when you think you’ve got your finger on the pulse of a coin or tokens price action it moves in an unexpected direction.

The reality is that getting it right every time is next to impossible even so you can increase your chances of success by leveraging the right crypto tools.

That’s why today I’m going to tell you about some of the best crypto tools I’ve come across and how to use them to maximize your crypto gains.

The best crypto tool to add to your belt is actually a Bundle and that’s Crypto Fees open orgs money printer and l2 fees by cryptostats and the smart contract cryptocurrency gas tracker by own chain.

So starting with Crypto Fees what this tool is all about is clearly noted at the top of the page quote there’s tons of crypto projects which ones are people actually paying to use.

If that didn’t make it clear enough Crypto Fees tells you how much people have paid in transaction fees to use a smart contract cryptocurrency or decentralized application over the last 24 hours and seven days.

Crypto Fees is useful because it tells you which crypto projects and protocols people are actually paying money to use and this can help you assess whether their associated coins or tokens are undervalued or overvalued relative to these transaction fee fundamentals.

Keep in mind that some crypto projects and protocols have very low transaction fees as such there could still be lots of demand for its coin or token even though the transaction fees are low.

Now some would argue that higher transaction fees equals more demand but that’s a topic for another time.

Now the next tool in this Bundle is open orgs which like CryptoFees clearly states what it’s about at the top of the page quote dows are the new companies what’s on their balance sheets.

If that didn’t make it clear enough open orgs tells you how much crypto is being held by dows and what’s cool is you can see which cryptos they’re holding in their treasuries by clicking on the little arrow next to the treasury balance.

This is important to know because spending by dows can be a strong source of cell pressure for a cryptocurrency.

This is especially important if the dow holds primarily the coin or token belonging to the crypto project or protocol which you’re presumably invested in.

If you’re a fan of said project or protocol then there’s money printer which actually has nothing to do with the Federal Reserve.

Money printer is a tool that keeps track of how much annual inflation there is for major cryptocurrencies and how much potential cell pressure this inflation is creating on a daily basis for their respective coins as with crypto fees.

It’s important to remember that a small annual inflation rate can still translate to a massive amount of daily cell pressure depending on the market cap of the crypto in question.

Now you can easily toggle this setting by clicking on the issuance rate and daily issuance tabs.

L2 fees is more straightforward as it’s a tool that tells you the transaction fees on Ethereum’s most popular scaling solutions including transaction fees for a simple ETH transfer as well as a more complex token Swap.

This can help you save money when transaction fees on Ethereum are high.

This ties into the last tool in the bundle and that’s the Gas Fees Tracker.

By own chain which is seriously underrated probably because of how the website and the tool is named which is just gas with many s’s.

As you can see the gas fees website shows you the transaction fees for most major cryptocurrencies both in their native coins and in US dollars.

This can be extremely helpful when you’re trying to say move cryptocurrency between exchanges or need to move a token like a stablecoin between wallets.

Crypto Exchanges – Next target for SEC?

    James Bidman

Now while we wait for the next market crash to come we get to sit and speculate which cryptocurrencies the Securities and Exchange Commission or SEC will Target in the next two weeks as its fiscal year comes to an end and the regulator engages in more important actions to justify its budget.

SEC chairman Gary Gensler has made it clear on many occasions that the only cryptocurrency that’s safe from the regulator scrutiny is bitcoin’s BTC.

As far as Gary and the Gang are concerned almost every other cryptocurrency is a security and therefore requires strict regulation.

As we’ve seen with XRP any crypto that’s targeted by the SEC will be delisted from cryptocurrency exchanges in the United States and the company behind the crypto project along with its Founders will likely get hit with a large fine.

So far it seems the only thing that’s been protecting the crypto industry is the fact that there are too many coins and tokens for the SEC to regulate individually.

That’s why the SEC has apparently opted to go after crypto exchanges instead and we could see some serious enforcement actions there soon.

Even so the recent establishment of two dedicated crypto offices at the SEC along with the continued expansion of the regulator’s crypto-specific personnel suggests that we’re more than likely to see enforcement actions against individual crypto projects as well.

As it so happens the SEC’s number one crypto Target is stable coins which Gary somehow believes to be Securities even though there’s no expectation of profit to be had in an asset that maintains a stable value.

Unfortunately it doesn’t change the fact that the SEC is likely to go after stable coins at some point and this looks even more likely than ever.

How to Invest in Cryptocurrency Without Buying It

    James Bidman

If you want to invest in cryptocurrencies without buying them directly, there are a few things you should know. You can choose to invest in Bitcoin, Ethereum, or other altcoins indirectly. Here’s what you need to know about indirect investment in cryptos.

If you’re not interested in cryptocurrency but still want to invest, don’t worry! There are plenty of options for an indirect investment where you can get exposure to it without having to actually buy any. These traditional methods include stocks, mutual funds, and exchange-traded funds (ETFs).

As previously stated, there are several factors to consider, including security, costs, and the risk of losses. When you purchase cryptocurrency through a third party, that third party will gain money in some manner; therefore, think about it when deciding whether or not to make an indirect investment.

The first way to acquire cryptocurrency without immediately purchasing it is through investment funds. Grayscale Bitcoin Trust is one of the first well-known entrants to this market.

GBTC functions similarly to an ETF, but it is classified as a different type of investment. By investing in GBTC through your brokerage account, you will gain similar benefits to buying a Bitcoin fund. The value of your GBTC investment will correlate with the market price of Bitcoin.

The biggest downside to Grayscale is the 2% expense ratio.

It’s as simple as this. They’re just taking a 2% cut for purchasing Bitcoin and keeping it in your name at a wallet. You can accomplish that yourself with little effort, saving money on the cost of holding Bitcoins in your own account.

The ProShares Bitcoin (COIN) and ProShares Short Bitcoin Futures Strategy ETF (SGBTC) are two separate funds that aim to provide investors with a hedge against the currency’s volatility. Other alternatives include the VanEck Bitcoin Strategy ETF (XBTF), Global X Blockchain & Bitcoin Strategy ETF (BITS), and the Bitwise 10 Crypto Index Fund (BITW). Fees, as well as underlying investments, differ depending on which fund you choose.

If you’re looking to invest in a firm that works in the blockchain sector, choose between firms that create or hold crypto on their balance sheets.

Cryptocurrencies are produced through a process called “mining.” They may be mined using any computer with a GPU and internet connection, as well as video cards that have been modified to mine. Riot Blockchain (RIOT), Canaan (CAN), HIVE Blockchain Technologies (HIVE), and Bitfarms are four examples of stocks in the cryptocurrency space. Coinbase is one of the most recognized cryptocurrency exchanges and includes COIN as one of its top 10 cryptocurrencies.

Not only do cryptocurrency prices usually drop during a downtrend, but many crypto stocks tend to fall as well. Keep that in mind before making any purchases, and if you have second thoughts about your investment decision or plans, consider talking to a reliable financial professional.

Besides buying cryptocurrency outright with fiat currency, another way to fill your portfolio is by using credit card rewards. Some cards offer the opportunity to earn crypto just for paying with the credit card like you normally would.

The BlockFi Rewards Visa Signature card, Gemini Credit Card, and Upgrade Bitcoin Rewards Visa are notable personal cryptocurrency credit cards. The Crypto.com exchange and Coinbase offer a rewards card as well.

The SoFi personal credit card and Venmo credit card offer great redemption options, including cryptocurrency.

By earning crypto as a credit card rewards, you are investing in crypto without having to put any money down. Even if the value goes down, you didn’t spend anything so whatever you end up with is pure profit.

Cryptocurrencies are sometimes described as a revolutionary technology that will revolutionize the world. For individuals who want to be part of the new technology, investing indirectly in cryptocurrency is an excellent alternative. As a consequence, the portfolio will be more diversified, and the risk will be dispersed more widely.