Dont Sleep On These Crypto Miners
Last week, Id looked at the increase in interest for the Shiba Inu crypto coin. At the time, Id suggested that investors snatch up crypto-focused TSX stocks instead.
Hut 8 Mining was the crypto TSX stock that Id recommended last week. This Toronto-based company is a top Canadian cryptocurrency miner. Perfect timing helped me out as the stock has shot up 11% week over week. Its shares have climbed 280% in the year-to-date period.
HIVE Blockchain is a Vancouver-based crypto miner that also operates in Sweden and Iceland. It has also benefited hugely from the return to form for Bitcoin and its peers. The TSX stock has increased 66% in 2021 as of close on October 18. Its shares have shot up 867% year over year.
Short of dipping into cryptos themselves or tracking a crypto-focused ETF, these stocks offer fantastic exposure to this explosive space.
This article represents the opinion of the writer, who may disagree with the official recommendation position of a Motley Fool premium service or advisor. Were Motley! Questioning an investing thesis even one of our own helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.
Fool contributor Ambrose OCallaghan has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned.
The Best Time To Buy Bitcoin
Lets face it. Not many people in the cryptocurrency industry have solid financial knowledge. Most cryptocurrency holders are self-taught while others rely on knowledge borrowed from the traditional financial sector. There is nothing wrong with that as long as the shoe fits.
Economists have weighed in on the best time to buy bitcoin, giving their observations based on several factors and analysis.
Academics from the prestigious Yale University developed a technique on past price action to predict the price of bitcoin. The economists Yukun Liu and Aleh Tsyvinski analyzed bitcoins price for the past seven years and developed a model that predicts BTCs price.
The research showed cryptocurrencies widely differ from traditional assets when it comes to the factors that determine price swings.
Economists proved that Bitcoin, unlike stocks and commodities, heavily relies on momentum. In other words, this means that if Bitcoin is performing well, it will likely continue to do so in the short-term. According to this study, investors should purchase the leading digital currency if its value appreciates by more than 20 percent in a week.
Crypto Friendly Banks Uk
Most of the UKs major banks now let you move money between a regulated crypto exchange and your bank account.
However, some banks are more cautious than others. For example, Starling Bank had imposed a temporary suspension on outbound faster payments to cryptocurrency exchanges in order to protect customers.
The banks are continually weighing up the risks and some make it easier for customers to move money to and from crypto exchanges.
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Disadvantages Of Bitcoin Investments
Bitcoin may be the future of monetary exchange, but it is equally important that you are aware of the concerns surrounding cryptocurrency investing. Here are some serious risks associated with bitcoin investments.
- Volatility. The price of bitcoin is always rippling back and forth. If you happened to buy bitcoin on December 17, 2017, the price was $20,000. Weeks later, you couldnt sell your investment for more than $7,051. While youd be doing great now in 2021, holding for years at a time is not a viable option for all investors.
- Threat of online hacking. While using a trusted exchange like Coinbase or Gemini will do wonders to lower your risk of being hacked, the only way you can be totally secure is by taking custody of your own private key. This can be done with a crypto wallet like the Ledger Nano X or Coinbase Wallet.
Need Cash Take A Crypto Loan Instead Of Selling
If you need quick liquidity, you typically sell-off some of your assets. Anyone can run into an emergency situation.
But there are alternatives to selling. Crypto backed P2P loan platforms are very popular, big holders of crypto prefer to get loans in fiat currency using their crypto as collateral instead of selling their crypto.
You could also use your crypto to earn interest using platforms like Youhodler.
While buying and holding has traditionally been the easiest and probably best way to profit from the Bitcoin boom, there are several other ways to make money by getting involved with Bitcoin.
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Should You Invest In Bitcoin
This article contains affiliate links that can earn us revenue.
Digital currencies might be making all the headlines right now, but should you invest your money in them?
Regulators around the world are cracking down on cryptocurrencies and some crypto exchanges. But that hasnt put off the big technology companies like Amazon.
In this article we explain:
Find out: Is a bitcoin crash coming?
What Time Of The Day Is Best To Buy Bitcoin
It is difficult to answer what the best time is to buy bitcoins, but we can try. Due to the volatile nature of cryptocurrency which means that the price can increase drastically in value and also fall in value within a short period of time. It is advised to use crypto alert tools so as to set a notification on the price movement. This will help you get the best price to buy bitcoins. Also, the best time of the day to buy bitcoin is also the best time of day to sell bitcoin. This is because if you are buying, then someone is selling!
As an investor, your focus should be on long term price performance rather than the usual short term mindset. This is unhealthy for both you and your investment in general. Crypto adopters do not care mostly about short term gains, and anyone who wants to go into bitcoin investment should do likewise. Bitcoin should not be viewed with a get rich quick scheme mindset.
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Why You Shouldnt Invest In Bitcoin
One of the main concerns about Bitcoin investment is that it is highly volatile. While you may make a profit in the long run, you may not be able to tell how soon it will be. Not everyone has the stomach for a volatile investment. Hence, if you are the type to quickly panic, especially during a dip, avoid Bitcoin investment.
The Best Time To Buy Bitcoin When No One Is Talking About It
As it turns out, Jaysinha was right. Suddenly, the same night, cryptos crashed, he said. Luckily for Jayasinha, the conversation with the hairdresser prompted him to quickly cash out of the market before disaster struck.
Therefore, in my eyes, the best moment to buy Bitcoin is when it is calm, when no one is talking about it, he said.
Similarly, Akram Assaf, Co-Founder at Bayt.com, told Finance Magnates that retail investors invest when hear about it on the news.
Bitcoin jumps often, he said. The best time to buy may be when you see it dropping.
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Best Cryptocurrency To Buy For Long Term Returns October 2021 Week 2
The crypto market is picking up where it left off in May with premier digital assets retesting the $55,000 mark earlier on in the week. At press time, the nascent industry is up 0.47% with total value locked standing at $2.31 trillion. Following this significant rally, several investors are searching for the best cryptocurrency to buy for long-term returns. This article explores some of the best crypto assets for growth potential.
How To Invest In Bitcoin And Make Money
Like any investment, making money depends on what price you buy and sell an asset for. If you sell when its price is higher than you bought it for, you will make money.
If you sell for a lower price than you bought it for, you will lose money.
- If you had invested in bitcoin at the start of 2020 and sold on 31 December 2020, you would have made a 300% profit
- If you had invested in bitcoin at the start of 2018 and sold on 31 December 2018, you would have made a 73% loss
Bitcoin is extremely volatile so the trick is not to panic and crystallise your losses by selling when its value inevitably falls. This is the same with all investments.
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What Is Binance And Can I Still Use It In The Uk
The UK financial watchdog has blacklisted cryptocurrency exchange Binance and banned it from carrying out any regulated activity over concerns about its money laundering controls.
The regulator has also ordered the company to stop any form of advertising in the UK.
Binance isnt based in the UK, so the British regulator doesnt have the power to stop investors from buying and selling cryptocurrency using the exchange. However exchanges do have to register with the FCA to operate in the UK.
This is a clear warning that investors should be very cautious.
What The Charts And Indicators Show
Lets take a look at some charts.
Financial predictive models are a graphical way of displaying different investment thesis, and while some do remain valid long-term, its important to keep in mind that they are constructed by looking back at what the price has done in the past, and this might not reflect what it will do in the future, as there are so many factors that might come into play.
However, I still like to follow several models and indicators as I feel they give me a better sense of the current scenario.
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One: Choose An Exchange
Signing up for a cryptocurrency exchange will allow you to buy, sell, and hold cryptocurrency. It is generally best practice to use an exchange that allows its users to also withdrawal their crypto to their own personal online wallet for safer keeping. For those looking to trade Bitcoin or other cryptocurrencies, this feature may not matter.
There are many types of cryptocurrency exchanges. Because the Bitcoin ethos is about decentralization and individual sovereignty, some exchanges allow users to remain anonymous and do not require users to enter personal information. Such exchanges operate autonomously and are typically decentralized, which means they do not have a central point of control.
Though such systems can be used for nefarious activities, they are also used to provide services for the worlds unbanked population. For certain categories of peoplerefugees or those living in countries with little to no infrastructure for government credit or bankinganonymous exchanges can help bring them into the mainstream economy.
Right now, however, the most popular exchanges are not decentralized and do require KYC. In the United States, these exchanges include Coinbase, Kraken, Gemini, and Binance.US, to name a few. Each of these exchanges has grown significantly in the number of features they offer.
What Tsx Stocks Are The Best To Target In This Climate
Mogo is a Vancouver-based financial technology company. It is notable for jumping into the crypto space all the way back in 2017 and 2018. This bet has paid off big time for the fintech firms stock over the past year. Shares of this TSX stock have climbed 30% in 2021 as of close on October 18. However, it has plunged 24% over the past six months. Now is a great time to considering scooping it up on the dip.
The company unveiled its second-quarter 2021 results on August 11. Its member base increased 63% from the prior year to 1.7 million users. Meanwhile, it delivered subscription and services revenue growth of 82% to a record $8.2 million. Between April and June, Mogo acquired roughly 39% of Coinsquare. This is Canadas leading digital asset trading platform.
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Are You Looking For More Great Cryptocurrencies To Buy
You made it to the end of my list! I hope you enjoyed my top 11 cryptocurrencies to buy for 2021, and that you found the information I provided useful.
If youre looking for more great cryptocurrencies to invest in, or to find out which coin is going to be the next big cryptocurrency, here is what you can do:
Three: Place An Order
When you have chosen an exchange and connected a payment option, you can now buy Bitcoin and other cryptocurrencies. In recent years, cryptocurrency exchanges have slowly become more mainstream. They have grown significantly in terms of liquidity and their breadth of features. The operational changes at cryptocurrency exchanges parallel the change in the perception of cryptocurrencies. An industry that was once thought of as a scam or one with questionable practices is slowly morphing into a legitimate one that has drawn interest from all the big players in the financial services industry.
Now, cryptocurrency exchanges have gotten to a point where they have nearly the same level of features as their stock brokerage counterparts. When you have found an exchange and connected a payment method, you are ready to go.
Crypto exchanges today offer a number of order types and ways to invest. Almost all crypto exchanges offer both market and limit orders and some also offer stop-loss orders. Of the exchanges mentioned above, Kraken offers the most order types. Kraken allows for market, limit, stop-loss, stop-limit, take-profit, and take-profit limit orders.
Aside from a variety of order types, exchanges also offer ways to set up recurring investments, allowing clients to dollar-cost average into their investments of choice. Coinbase, for example, lets users set recurring purchases for every day, week, or month.
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Best Time Of Day To Buy Bitcoin
We have narrowed down to the best days to buy Bitcoin and even further looked into several theories that can help you better ascertain your decision. Now lets take a deep dive and take a look at the best time of the day to buy Bitcoin.
Take note of the fact that the BTC is highly volatile and its price changes within a short period. Searching for the best time to buy Bitcoin, however, depicts a focus on the short-term focus on the price of the Bitcoin which is not advised.
The best thing you can do is to adopt the following practices that are sure to keep the risk of losing all your money at bay.
Do not begin trading in cryptocurrency if you do not know anything about it. The cryptocurrency is not a platform to chase quick profits. There are numerous risks involved with it.
Get on the internet and research. You can get material from the Nakamoto institute and even get a lot of information on Youtube. It may be time-consuming, but that is the right way to go about it
Dont panic sell
I know what youre thinking. What if the Bitcoin market price is high? Isnt it advisable to sell and gain profit? Yes, it is good to do so if you planned to sell when BTC reaches a certain price height. However, if you got into panic mode by reading or listening to stuff online and think you need to sell before it all crashes then, NO dont do that.
Buy on the dip
Understand current markets and trends
What Is The Best Time Of Day To Buy Bitcoin
Bitcoin trading is now a top needed skill in financial settings. Knowing the right time to place a buy or sell bid is important in making profits as a crypto trader. Also, having knowledge of technical analysis isn’t a bad idea as well. Before now, financial investment did not include cryptocurrencies. But now that they do, everyone wants to know the best time of the day to buy Bitcoin.
Since you have also decided to diversify your investment into Bitcoin , you are practically buying currency like the pounds and Euro. However, there are some particular strategies one has to adopt before you can invest in cryptocurrencies such as Bitcoin. To make profits, you need to know the best time of the day to buy Bitcoin and that is what this article is all about.
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Was A Massive Year For Crypto
The year 2020 will be one to remember due to the devastating effects on humanity and the economy as a result of COVID and government policies, but crypto just had an amazing year.
We had the DeFi summer and the long-awaited institutional buying of Bitcoin, as well as the launch of the ETH2 beacon chain and many other big events. Heres an infographic illustrating the major crypto events of 2020:
The Last Time Bitcoin Reached An All
Then again, perhaps now is the best time.
Despite the fact that BTCs last all-time-high in late 2017 ended in tears, a number of analysts argue that this price run is different.
Brandon Mintz, Chief Executive of Bitcoin ATM network, Bitcoin Depot, told Finance Magnates that unlike last time, the run to the new all-time high is driven in large part by institutional investment in Bitcoin: were seeing fresh stories about institutional crypto adoption on almost a daily basis at this point, he said.
Sustained growth is likely from here, at least for the time being. We are being driven by corporations and billionaires now, not just retail investors.
Mintz also pointed to the fact that market conditions outside of Bitcoin are very different than they were in late 2017. In 2020, the COVID-19 pandemic caused the United States government to print trillions of dollars, a factor that many believe will lead to inflation and possibly financial crisis over the long-term.
The scarcity of BTC compared to the printability of dollars is likely to attract savvy individuals looking to diversify their assets in the event of a lapse in the traditional financial system, Mintz told Finance Magnates.
As the adoption rate of BTC increases and the supply remains constant, the value of BTC will only continue to rise.
New #bitcoin target price $40,000
established by our lead Digital Strategist 2020 = 2016 > halvening
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