How to Lose Money Quickly Crypto Day Trading

Crypto Day TradingCrypto Day Trading

Over the past few years the idea of becoming a ‘crypto day trader’ has gained in popularity.

There are countless YouTube videos all claiming to teach viewers the “real secret” to the high-flying, trading lifestyle. How you can spend an hour or two in front of your laptop every day and pocket upwards of $500 in profit on a daily basis.

Before we look at the validity of such a claim, let us look at the facts.

Cryptocurrency is a tradable asset, and it shares a lot of its characteristics with traditional trading markets such as Forex and stocks.

It is possible to make high returns from trading cryptocurrency, but there are high risks attached as well.

If you don’t know what you’re doing, you can easily lose all your money very quickly.

The lack of Government regulation in the crypto market also removes many of the so-called fail-safes that are present in other forms of trading and gambling.

Many refer to crypto trading as the wild west of the investment world, and to a certain degree they are right, but besides the slow creep of Governmental regulation, we also see many exchanges taking steps to regulate themselves.

One case in point is European exchange ETERBASE, known as the first regulation-compliant cryptocurrency exchange in Europe. Be it data protection, AML, KYC, GDPR, they have it covered, and this is looking like the way forward for any exchange that wishes to be taken seriously.

Many crypto exchanges, including some of the more popular platforms such as RightBTC offer beginners guides intended to help those new to the world of crypto trading get started in the right way.

Take advantage of these official guides, as they are usually more reliable than the stuff you’ll find from self-proclaimed successful traders on YouTube.

However, even if you’re trading on the most reputable, respectable exchange out there, a fundamental lack of knowledge will still see you lose a lot of money, fast.

Get Rich Quick

Anyone who decides to start trading crypto under the impression that its a get rich quick scheme is almost certain to lose all of their funds pretty quickly.

Crypto is NOT a get rich quick scheme.

For those who know how to read the markets, there is an opportunity to make a lot of money from crypto, that is true, but there’s also a very good chance that you could lose a lot of money as well.

The bottom line is quite simple. Never invest more than you can comfortably afford to lose.

No one wants to lose money, but it’s certainly going to be a whole lot easier if you lose a spare $500 you had sitting around than it would be if you lose $500 that was supposed to go towards paying your rent or energy bills that month.

The very thing that attracts people to crypto investing is what can drain your funds quickly. Volatility.

Shorting

Unless you really know what you’re doing this is a dangerous tactic to use, and will more than likely see you lose a lot of your money.

Many day traders think that they can succeed where other, “less serious” traders have failed simply because they consider themselves to be day traders and someone who tracks the market very closely.

This typically makes no difference, as the inexperienced trader will many times not pull the plug until they’ve lost a lot of money.

Remember, there is virtually no cap on the growth of any particular asset, so the risk of a loss is, in theory, infinite.

Unlike owning an asset which is failing, where your maximum loss is 100% of that particular assets value, with shorting, an asset can double or even treble in value, taking your loss with it.

Many inexperienced traders take part in this type of tactic and leave it far too late before they realize they’re in over their heads.

Margin Trading

By its very definition margin trading breaks the number one rule all traders should follow, which is not to invest more than you can afford to lose.

Most margin traders are simply being greedy and are essentially borrowing to invest, which never ends well.

Always obey the golden rule, which is only to invest what you can comfortably afford to lose.

A margin traders worst nightmare is a margin call, which is when a broker basically places a demand that an investor deposits the funds required to bring their account up to the minimum maintenance levels once again.

If the said investor cannot cover his losses, then the trade is closed, and your initial investment is history.

Margin trading is high risk even for the most experienced of day traders, so avoid it entirely unless you know the game inside out.

In conclusion, if you’re looking for a get rich quick scheme, don’t look at day trading. If you’re operating with limited funds that you cannot afford to lose, then don’t get involved in day trading.

The other side of the coin is that day trading can be fun, and you can make money, but you need to be sensible and avoid getting greedy.

Take some time to learn the ropes, trade small, pick up good habits, and you’ll be fine.

Featured Image: DepositPhotos/ dimarik

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Enter Ravencoin! Crypto Newbie Makes Unprecedented Gains after Binance Listing

RavencoinRavencoin

Coinmarketcap.com has a new listing in its top 100. As of Sunday, Ravencoin has been occupying the 58th spot thanks to a Binance listing and has sustained a growth of 118% since that announcement.

Within ten days, the coin has grown its market cap from $212,000 to $49 million! This is a rather unbelievable rise of 23,000%.

In the last 24 hours alone, the coin has grown by 55%. It is now selling at $0.056.

About Ravencoin

If we look at its chart, Ravencoin obviously went relatively unnoticed until its Binance listing. But what is Ravencoin? And why did Binance take an interest?

Well, the coin has been around since 2017, and it is about to mark its one-year anniversary with an upcoming mainnet launch on October 31st.

>> Blockchain and Shipping: Samsung SDS Signs Deal with Largest Port in Europe

The Ravencoin protocol is open-source and available to the public. Built off of a Bitcoin fork, it has a focus on the creation of digital assets on its Proof-of-Work (PoW) blockchain. According to its official documentation:

“Assets can come in a variety of types, such as financial instruments such as security tokens/stocks/bonds/deeds/etc as well as gaming items (ex. a sword)/conventional asset management/managing distributions for co-ops/digital art. There are a lot of real-world applications that this blockchain is intended to disrupt and improve.”

Humble Beginnings

With no ICO, the project was built up by a small team of dedicated people. Because of this, CEO of Binance, Changpeng Zhao, allowed the project to list without any listing fees. It began trading on October 12th, and over 85% of its growth has come from Binance trades since.

“The project is a true open source project with no pre-mine, no ICO, no masternodes, and is focused on building a useful technology with a strong community.”

Binance is the world’s top exchange with the highest trading volume.

No coin has seen gains like this since Bitcoin’s demise last year. Will the gains continue, is the question? Would you invest in Ravencoin?

The most humble of acorns may prove to be the most fruitful yet; let’s keep our eye on this one!

Featured Image: Depositphotos/© tomwang

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Blockchain and Shipping: Samsung SDS Signs Deal with Largest Port in Europe

Blockchain and ShippingBlockchain and Shipping

Samsung SDS, the blockchain subsidiary of the tech giant Samsung, has just announced its partnership with Europe’s largest port, the Port of Rotterdam. In addition to this agreement, the Major Dutch bank, ABN AMRO, will also be in on the blockchain and shipping deal.

Samsung SDS: Blockchain and Shipping

The Samsung subsidiary released the news via a press release this morning. According to Samsung SDS, its trial will focus on shipping containers from an unnamed factory in Asia to the port of Rotterdam.

The Port of Rotterdam is located in the SouthWest corner of the Netherlands. The port also released its press release of the blockchain and shipping partnership, dated back to the 19th of this month. As per the Port’s release, the blockchain experiment will begin in January 2019, and the results will be released in February.

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Daphne de Kluis, ABN AMRO CEO Commercial Banking, explained:

“We will be integrating all these flows in our pilot: from workflow management combined with track & trace to the digitisation of paper documentation such as waybills and the financing of handled freight or services. The ultimate goal is to reach an open, independent and global platform that operates from the perspective of shippers. This will make the logistics chain more transparent and efficient, and millions of euros can be saved in the long term.”

Details

The infrastructure behind the blockchain and shipping project was developed by BlockLab, a Dutch Company established by the Port of Rotterdam Authority. BlockLab’s work will also include two other decentralized platforms: Samsung’s Nexledger and Corda, an open-sourced blockchain platform designed by R3.

The members of the blockchain trial expect that the pilot will show a reduction of time spent on shipments, as well as help simplify financial transactions. With the current structure, the logistics in shipping from Rotterdam to China involve at least 28 parties.

Featured Image: Depositphotos/© Fotofabrika

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Journalism Outlets Love Crypto and Blockchain—Look at Forbes Magazine

Forbes Civil partnershipForbes Civil partnership

Multiple journalism outlets have started to incorporate cryptocurrency and blockchain into their business models, which isn’t surprising; we knew this was coming. Back in July, Forbes magazine included crypto players in its ’40 under 40′ list. Last week, Time Magazine put a blockchain startup on its list of 50 innovative businesses. And this week, we have seen the market introduced to a Forbes Civil partnership.

A Forbes Civil Partnership: What Does This Mean?

On Tuesday, October 9th, the co-founder of Civil, a blockchain platform, confirmed that Forbes will be working with the blockchain-based platform to publish content.

According to Matt Coolidge, Civil co-founder, Forbes will integrate the platform’s software into its own CMC, which stands for a content management system. With this, journalists in 2019 will be able to upload their data to the Civil network and the Forbes website at the same time.

There’s more, too. According to Coolidge, the Forbes Civil partnership will also lead Forbes to “experiment with new methods of reader engagement.”

What’s the Point?

Is Forbes getting into blockchain because it wants to be part of the trend? Maybe. Or maybe not. According to Coolidge, using a decentralized platform gives the media the ability to “ensure no third party can remove or alter the content.”

Whatever the reason may be, Forbes is openly supportive of the blockchain industry—and it shows in more ways than just partnering with Civil. Yesterday, in fact, Forbes published an article called ‘Why Now Is The Best Time To Embrace Blockchain Technology.’

The opening paragraph is as follows: “It’s time for your business to start embracing blockchain, the biggest game-changer in technology since the internet.”

>> Binance Listing Fees: Largest Cryptocurrency Exchange will Donate All Fees to Charity

The Takeaway

Do you agree with media outlets partnering with crypto and blockchain companies? Or, more specifically, do you agree with the Forbes Civil partnership? It’s certainly interesting; crypto and journalism are two popular yet controversial topics at the moment.

Let us know what you think in the comments below!

Featured Image: Depositphotos/© sinenkiy

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Another Fraudulent ICO Shut Down By the SEC—Here We Go Again!

Fraudulent ICOFraudulent ICO

Wow. It is a solemn day for cryptocurrencies everywhere! According to CoinMarketCap, the market is experiencing a big crash with most coins seeing double-digit losses. I wish I could be bringing a lighter tone to this grey picture, but another fraudulent ICO has been shut down by the SEC earlier today.

Is such market volatility going to spell the end for cryptocurrency? Between vast and sudden sell-offs and another fraudulent ICO, you begin to understand why so many bears populate this sector. What’s going on?

Another Fraudulent ICO

Earlier today, the US Securities and Exchange Commission (SEC) reported that it had halted a planned Initial Coin Offering (ICO). This fraudulent ICO had claimed it had regulatory approval, including approval from the SEC itself.

The company Blockvest LLC, and its founder Reginald Buddy Ringgold III (a fake name I suspect) was issued a subpoena and ordered to cease the ICO project and any pre-ICO sales.

Blockvest falsely claimed that its ICO and relative affiliates had received approval from major financial regulators. It claimed the project was “licensed and regulated.”

>> A Crypto PayPal? UTRUST Will Make Crypto Online Transactions the Everyday Norm

Fraudulent Activity

Blockvest brazenly impersonated the SEC seal and ran an ICO that it promoted via a fake agency called the ‘Blockchain Exchange Commission.’ The ‘Commission’ also used a fake SEC seal, as well as the SEC address. In doing this, Ringgold broke the federal law.

Following the SEC’s complaint, the US District Court for the Southern District of California has frozen any funds relative to the fraudulent ICO. The case is set to be heard on October 18th.

Crypto Issues

Fraudulent ICOs have been a massive industry problem for cryptocurrency. The SEC has continually launched campaigns to help investors avoid any potential fake scheme. Earlier this year it launched its own fake ICO website to raise awareness on the issue. It also launched its ‘Operation Crypto Sweep’ whereby it sent out over 70 cease and desist letters to what was believed to be fraudulent ICOs.

Featured Image: Depositphotos/© ventanamedia

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Nicolas Maduro Urges His Venezuelan Residents to Invest in the Petro Coin and Gold

Nicolas MaduroNicolas Maduro

Nicolas Maduro, Venezuela’s president, called on workers in his country to save money in gold and his cryptocurrency ‘The Petro’ during a salary shake-up Thursday. According to the local news source Noticiero Digital, in the next few weeks workers will be receiving their bonuses in the Petro coin, instead of fiat.

Nicolas Maduro and The Petro

Maduro said:

“In the coming weeks the payment schedule of the bonuses will be fulfilled with the new salary tables set in the petro, which is from the economic recovery program that started 58 days ago on August 20 and will begin to pay all the bonuses as it should be, and if you think about the future, think about saving […] think about the gold and petro savings plan.”

Since the very beginning, the Petro has been receiving negative feedback, from both inside and outside Venezuela. The digital currency is seen as a desperate attempt to pull the country out of its economic crisis, by having others pay for the country’s debt.

Just recently, the technology publication Wired led an investigation piece and described it as a “scam on top of another scam.”

“You could say that desperate times with a starving population result in desperate action,” says Jonathan Fry from Team Blockchain. “What is any fiat currency but a promise to pay its debts or at least to pay the interest on its debts.”

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The Petro coin is supposedly backed by oil, but that still remains unclear at this time. What’s ironic is Maduro has made Bitcoin mining is illegal within the country, which has landed many individuals in jail. The reason being is that mining requires a lot of electricity and currently, the government subsidizes electricity.

The Petro ICO is set to start on November 5th. Nicolas Maduro states that the Petro will be available on six major cryptocurrency exchanges, which are still known at this time.

The Venezuelan president is doing anything and everything to help raise his country out of its economic turmoil. Venezuela is known for its gold mines, and it seems gold may be the better investment option between that and the Petro coin.

What do you think?

Featured Image: Depositphotos/© JanPietruszka

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Top Coins Today: Tezos and DigixDAO Lead the Pack

Top CoinsTop Coins

According to coinmarketcap.com, there are two top coins today.

In the top 100, leading the pack and standing out for their double-digit gains are Tezos and DigixDAO.

In 24 hours, both coins have increased almost 17%. So what’s going on with these two?

Top Coins: Tezos and DigixDAO

This morning, Tezos began listing on European exchange Kraken. The news has seen the coin increase nearly 17% in the 24-hour period.

That is some gain.

The 18th largest coin by market cap, Tezos (XTZ), began trading at 11:00 ET.

To allay any user confusion, XTZ is available on the old and new Kraken platforms.

The Positives of Listing on Kraken

There are some very big positives to come from listing on Kraken. Firstly, Kraken is a fully legalized exchange that adheres to the recently updated European financial regulations. Now that Tezos lists here, the coin will, by association, be considered a more reliable asset.

Kraken is also the oldest exchange, with a modest trading volume and a loyal and established trader base.

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The exchange also offers a fiat off-ramp for Tether (USDT) trading and is the only European exchange to do so.

Following the news, Tezos upped its pace with trading volumes above $4 million in 24 hours.

The coin has moved between modest highs, and it hit its lowest mark of $1.14 last month. As such, XTZ is a relatively underestimated asset, and still has a market cap below $1 billion.

Top Coins: DigixDAO, but What’s Going on?

Another coin seeing gains today (at the time of writing) is DigixDAO, which began another bullish run yesterday and hasn’t stopped. Earlier today, the coin hit its all-time high of $49.70, and though it has since lost some of those gains, it remains up 16.78% in the 24 hour period. But why?

Interestingly, there appears to be no exact catalyst for this momentum.

No announcement has been made by the company, but interest is growing in DigixDAO. Most of the trading volume is coming from Binance, though, where DGD can be exchanged with ETH and BTC. Perhaps that has something to do with the gain.

So there you have today’s top coins! Will they remain in the green?

Featured Image: Depositphotos/© 4masik

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A Crypto PayPal? UTRUST Will Make Crypto Online Transactions the Everyday Norm

crypto online transactionscrypto online transactions

A Swedish company wants to make crypto online transactions as simple and as safe as using PayPal. But can such a feat be accomplished in such a volatile marketplace?

Crypto Online Transactions

The cryptocurrency market is still considered to be in its infancy, and many skeptics believe that, as a currency, it is hard to spend it day-to-day.

Proof of this issue is that only 2% of online retailers accept crypto despite the increase in adoption for traders and businesses alike.

Fear remains surrounding the volatile nature of a crypto’s price.

Enter UTRUST

But UTRUST is on the case. The company wants to make crypto online transactions and crypto point-of-sales a part of the norm. Its system will include a “conflict mitigation system, chargeback protection, and a proprietary cryptocurrency which increases purchasing power within the platform.”

UTRUST and Gambio

The company has signed a partnership with Germany’s Gambio.de.

Gambio is an e-commerce solution provider with over 25,000 online stores. These stores power 30% of e-commerce revenue in Germany, so this puts UTRUST in a very good starting position.

Making partnerships like this one means that thousands of merchants will be able to accept cryptocurrencies in a simplified and casual way.

>> Coinbase Japan: Exec Says Crypto Crackdown in Country in a Good Thing

Merchants will receive fiat currencies in their bank accounts, and the goal is to be up and running in the short-term:

In three years, you will be able to pay online [with cryptocurrencies] at major vendors. This will come offline in another five years,” said Filipe Castro, UTRUST’s Chief Information Officer, and co-founder.

Vendor Verses Buyer

The system also provides the added benefit of refunds paid in crypto in case of a dispute. UTURST arbiters will be able to mediate any potential disputes between buyer and seller.

The company differentiates itself as “the first cryptocurrency payment solution to offer instant transactions, buyer protection, and crypto-to-cash settlements.”

UTRUST has the potential to offer the much-needed piece of mind in this volatile marketplace.

Will we see online crypto transactions become normalized? Can UTRUST become the “PayPal of Crypto” in the not too distant future? What do you think?

Featured Image: Depositphotos/© 360ber

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Goldman Sachs-Funded Circle Just Launched Three Additions to Its Crypto Investment App

Circle launches CollectionsCircle launches Collections

Circle launches Collections, a new addition to Circle’s crypto investment app.

Circle Launches Collections

A few months ago, Circle debuted ‘Buy the Market.’ It was a way for its customers to buy the listed assets it had on its platform in just one tap. Circle’s feature was so successful that over 30 percent of the users were using it after its debut.

This morning, the company is building upon its theme and has launched three additional collections: Platforms, Payments, and Privacy. Each of these new collections divides the crypto assets into themes. Circle believes this simplifies investing for some individuals.

According to the website, the app supports:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Bitcoin Cash (BCH)
  • Litecoin (LTC)
  • EOS
  • Stellar (XLM)
  • Monero (XMR)
  • Zcash (ZEC)

In the new collections, the crypto assets will be weighted according to their market caps. Circle also states that its Collections product will provide educational content to investors to help them make informed choices about their investments.

>> Fortnite on the Blockchain? It Could Soon Be a Possibility

Circle’s post reads:

“Crypto is complicated. Many projects aim to solve similar real-world problems but take vastly different approaches to get there. Projects like Bitcoin, Bitcoin Cash, Stellar, and Litecoin are trying to build superior payment rails based on blockchain technology so that making payments is as easy, instant, and as borderless as sending an email. If customers are passionate about this category of assets and want to invest, they can simply buy the Payments collection.”

Last month, Circle launched its own US dollar-backed stablecoin named the ‘USD Coin.’ The stablecoin will be listed on Circle’s Poloniex exchange, as well as OKCoin, KuCoin, Coinbase, and Huobi.

The only hang up I see with this new addition to the Circle App is that investors new to the cryptocurrency space won’t know the difference between the projects and might get confused by the categories.

Featured Image: circle.com

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Luxury Condo in Manhattan Will be ‘Tokenized’ on the Ethereum Blockchain

Tokenized Real-World AssetTokenized Real-World Asset

It’s the first of its kind. According to Forbes, a luxury condo development in Manhattan, which is valued at more than $30 million, will be tokenized on the worldwide Ethereum blockchain, making the luxury condo a tokenized real-world asset.

The building comprises of 12 units at 1700 sq ft each and is located on 436 & 442 E 13th St in Manhattans, East Village.

The listing broker on the deal is Ryan Serhant. He and the developer are looking to tokenization as a new method of financing. He says:

“With blockchain tokenization, we can remove the unruly pressure of traditional bank financing, which is much healthier for the project and all of the stakeholders. Tokenization is paving the way for a new forefront in real estate development.”

A Tokenized Real-World Asset

Tokenization on the Ethereum blockchain is made possible by two companies, Propellr and Fluidity. The pair has joined forces on this project. Digital assets on the blockchain will represent ownership of the condos.

“With blockchain technology, a transparent and trustless ecosystem can start to solve the information asymmetry that hinders the market’s potential for liquidity. This asset, structure, sponsor, and sales team showcase this evolution. With proper discipline and respect, the future is bright for tokenized securities,” says Todd Lippiatt, CEO of Propellr.

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Don Mosites, co-founder of Fluidity, said the following:

“Along with our flagship AirSwap, we’re building a system that brings local assets online using blockchain technology. This makes them available for trade on a global marketplace—directly among buyers and sellers. Fluidity is forming the foundation of a new system of tokenization and trade.”

How Does it Work?

Potential buyers will receive “either analogue or digital interests in the securities.” AirSwap technology will be used in the offering process, including “tokenizing the securities and allowing for a compliant secondary market to emerge.”

The liquidity of private securities can be improved because of the transparency of blockchain technology. Should this tokenized condo be a success, the same structure can be applied to a range of real-world assets.

Ethereum (ETH) is trading down currently -2.54%, according to CoinMarketCap.

Featured Image: Depositphotos/© aa-w

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