The market has been slow for months now, and while we all know it will recover and take off, we have no idea when that will happen. So in the meantime let’s have a look at five best cryptocurrencies that, because of their particular features, could do well this month while the rest of the market keeps losing value.
Four of these coins have one thing in common: Coinbase. Our first four picks are all either listed or considered for listing at Coinbase and that fact alone, because of the vast user base that platform boasts and the incredible amount of demand it creates for currencies, is enough to take them seriously this August.
There are 1500+ cryptocurrencies active in the world today, and many of them are incredibly exciting. Bitcoin is not only the coin that made the cryptosphere happen.
It also is the market’s leader. When Bitcoin does well, every other currency does well, and when Bitcoin does poorly, every other token follows suit (as you can see exactly that happening right now). If the market shows any signs of recovery, it probably will start with Bitcoin. Additionally, it happens that Bitcoin is currently undervalued so even in a bearish market, it’s expected to recover at least until a point.
Stellar Lumens’ XLM
This currency has secured many important partnerships over the last couple of weeks, its transference rate is increasing a lot, tariffs are low, IBM backs it, and it’s useful as a bridge to settle international payments as it is as a retail token for consumers.
That kind of versatility guarantees uses and increases demand. It was founded, and it’s still led by Jed McCaleb who also founded Ripple (XRP) and has shown his competence at managing blockchain projects. If that’s not enough to persuade you, XLM was the only coin that increased in value during July.
This is among the most serious projects in the crypto world. This month will see essential and innovative updates in big chunks of Cardano’s network that will increase performance, reliability and other features. Also, Cardano works very hard in ADA’s adoption.
Yes I, know, you probably had not noticed that at all. That’s because Cardano is not trying to get ADA adopted in Europe, or the Americas but in Africa and Asia because the lack of regulation and bad quality in local financial services make of those regions of the world places in which penetration can be quicker and more in-depth and more useful than anywhere else in the world.
It’s also worth it to keep in mind that Cardano’s current success has had nothing to do with marketing because they have not done any. Imagine what will happen when they do start their marketing campaign which is scheduled to begin soon.
The main thing about this one is that it’s scheduled to go live on Coinbase Pro this week (as I write this, as a matter of fact) and that Robinhood now supports it. Those two new demand sources are enough to pump any coin up, so there’s not much more to say.
Surprised? Vchain is a very young, and relatively low profile, blockchain project that already has some impressive triumphs in its belt. Their killer app is for streamlining airport check-ins in a way that, by the magic of cryptography, the reputation of every passenger’s papers is checked against a distributed database without actually revealing any personal information at all. Also, this project awards hodlers with new tokens just for hodling so, even if it doesn’t rise in price, you’ll end up with a few new tokens.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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Blockchain-Focused ETF Arrives on London Stock Exchange
The crypto community is still waiting for the US SEC to approve Bitcoin ETFs, with speculation which application might get approval being one of the hottest topics in 2018. However, come 2019, the US government shutdown dragged on, and the Bitcoin ETF request which had the most potential to see a grant got withdrawn by the very companies that submitted the application.
While the question of BTC ETF remains hanging in the air, blockchain-focused ETFs seem to be a different matter entirely. In a recent announcement by an independent investment managed firm called Invesco, the company has stated that it was about to launch the largest blockchain-focused ETF in the world. They managed to go through with this plan, and the ETFs have reached the London Stock Exchange today, March 11th.
The exchange-traded fund includes a portfolio containing as many as 48 different firms which are bringing exposure to the emerging technology. Among them, there is Taiwan Semiconductor Manufacturing, which is a well-known creator of chips used for crypto mining, as well as the CME Group, which is the first regulated exchange in the US which launched Bitcoin futures. There are many other well-known companies as well, such as Intel, Microsoft, and others.
Chris Mellor, the Invesco’s head of ETF equity product management in Europe, said that blockchain has a huge potential to increase earnings, even though…
Could Jeff Bezos Turn to Bitcoin to Hide Fortune from Wife?
Amazon’s Jeff Bezos has made numerous headlines recently due to his overly-publicized divorce, which shows all signs of being one of the most expensive ones — if not THE most expensive one — in modern history. According to estimates, it might cost him as much as $70 billion, which will make his soon-to-be-ex-wife the richest woman in human history.
However, as the process continues to unfold, many have started wondering if things may have ended up differently for Bezos if he turned to Bitcoin for help.
Bitcoin as a divorce tool?
In the last several years — since Bitcoin and other cryptos hit fame — many have started turning to BTC during their divorce proceedings. In fact, it can even be said that using the largest cryptocurrency in this way has become a new trend. The trend has been gaining so much strength that numerous law companies started including advice on what to do in regards to Bitcoin as part of their websites.
However, while the trend has been picking up in recent years, it is nowhere near as easy as it might seem. For example, if there is even a suspicion of a spouse having undisclosed holdings appears during the divorce process, it might be enough to impact the final decision of the judge. In other words, even if there is a complete lack of evidence, but…
Three Biggest Things To Know Come Cryptocurrency Tax Season
In recent years, digital cash systems known as cryptocurrencies such as Bitcoin and Litecoin have exploded into the public eye. A blend of cash and stocks, their use and value has grown exponentially. In 2017, the IRS decided to focus great effort on taxing them. In theory, this should be as simple as calculating taxes on any other type of property, bond, or other assets. Cryptocurrency, however, presents a unique challenge. The full extent of one person’s crypto activity can stretch across dozens of platforms and take a variety of different forms. This makes it difficult to gather all of this information cohesively, much less begin the seemingly- complicated process of reporting it.
These three tips should help anyone looking to legally report their crypto activity to figure out where to start.
Documentation is key!
There are dozens of different “exchanges” individuals can use to change their cash into crypto. When the flat currency is changed into cryptocurrency at the exchange, you establish your cost basis. This makes this data crucial when you begin the process of reporting. Those who have used a variety of different exchanges should keep detailed records of everywhere that they made trades. Once tax season arrives, most exchanges will allow users to view their entire trading history with that exchange. This information will be necessary later to complete taxes.
Calculate your total gains…
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