Crypto Guides, Knowledge & Insights

Fiat-to-Crypto Versus Crypto-to-Crypto: How Should You Trade?

Fiat-to-crypto: an on-ramp for newcomers　　Fiat-to-crypto trading is the primary avenue for new participants who are entering the crypto markets. Buying bitcoin (BTC) with dollars, euros, pounds or other forms of fiat is typically how newcomers enter the world of digital asset investing. 　　More advanced traders will typically deposit fiat currency on exchanges, such as Binance, Gemini, Kraken or others, and trade the most popular cryptoassets against fiat currency. Cashing out then usually involves withdrawing fiat currency from the exchanges via bank transfer. 　　In light of the general upward performance of leading cryptoassets, most notably BTC and ethereum (ETH), investors who went from fiat-to-crypto and stayed in crypto fared well over the past five to ten years. 　　As a result, fiat-to-crypto has established itself as the primary way of investing in digital assets. 　　However, when it comes to riding the wave of a bull market, crypto-to-crypto trading may be a better alternative.Crypto-to-crypto: how pros trade market cycles　　In todays global economic climate – where money printers are running louder and faster than ever – and fiat currency is losing its value against cryptocurrency, some experts believe that crypto-to-crypto is the only way to trade digital assets, especially if you are looking to

2021-08-23Deep Dive

Weekly Crypto Wrap: All that transpired in cryptocurrency this week

It was clearly the week of altcoins surging way past the cryptocurrency market formen Bitcoin and Ethereum to make a substantial mark. While Bitcoin ($49,235) saw a 7-day rise of 5.67 percent and Ethereum ($3,236) rose just 0.03 percent in the same time, altcoins like Cardano ($2.53) recorded a weekly jump of 17.47 percent, along with Cardano ($2.53) which spiked 17.47 percent, Polkadot ($27.72) which peaked 23.02 percent, Solana ($74.52), which rose almost 64.85 percent and Terra ($27.94), which hiked 63.44 percent.　　Winds of Change　　In fact, Cardano, with a current market cap of 80,559,983,767 dollars overtook Binance Coins market capitalization ($75,750,693,612) as the third biggest cryptocurrency after Ethereum and Bitcoin. This is mostly thanks to its upcoming Alonzo upgrade, which will incorporate smart contracts, opening a range of applications like DeFi, NFTs, automated lending, and more and giving stiff competition to peers like Ethereum.　　Closer home, crypto adoption in India is exponentially growing, with the country ranking second, succeeded by Vietnam amidst the countries that make a lions share of cryptocurrency usage, with 9 percent of the respondents claiming to utilize cryptocurrency, per market research firm Finder.　　In fact, all five leading nations in terms of bitcoin ownership are located in Asia. Bitcoin

2021-08-22Deep Dive

Investing In Cryptocurrency? Know About The Types Of Exchange Fees

Cryptocurrency exchanges are online platforms where you can trade (buy and sell) between cryptocurrencies based on their actual market price. In order to come up with a valuation for a cryptocurrency, investors and market participants determine the demand and supply. This is a similar concept to a stock exchange where shares of companies are bought or sold.　　By using a cryptocurrency exchange a person can buy a cryptocurrency and sell it when the price rises to mark a profit. The key is entering and exiting a market at the right time. And just like traditional stock exchanges, crypto exchanges, too, involve transaction charges that are levied on trades done by a trader. In this article, we will cover the types of fees charged by exchanges which are important for investors to understand.　　There are in general three types of transaction fees involved in the trading of cryptocurrencies. Investors are advised to know about them.Exchange fees　　This is the first type of fee an investor needs to be aware of when using exchanges. The exchange fee is the amount charged by an exchange in order to complete a users buy or sell order. Though most exchanges have a fixed fee, a smart investor must

2021-08-22Deep Dive

Cryptocurrency Prices Today on August 22: Bitcoin over $48,000

Cryptocurrency prices continue to be in a mix of red and green on August 22. The global cryptocurrency market cap is $2.10 trillion, a 0.21 percent increase over the last day, while the total crypto market volume over the last 24 hours is $107.43 billion, which makes a 1.24 percent decrease.　　The volume of all stable coins is now $84.86 billion – 78.99 percent of the total crypto market 24-hour volume. Bitcoins price is currently $48,971.18 and its dominance is currently 43.96 percent, an decrease of 0.03 percent over the day.　　Bitcoin rose 5.01 percent to $49,106.4 at 22:04 GMT on Friday, adding $2,342.1 to its previous close.　　The worlds biggest and best-known cryptocurrency, was up 77.4 percent from the years low of $27,734 on January 4. Ether, the coin linked to the Ethereum blockchain network, rose 3.03 percent to $3,281.82 on Friday, adding $96.64 to its previous close.　　As off 7.45 am on August 22, these are the prices of 10 largest cryptocurrencies (data from https://coinmarketcap.com):

2021-08-22Deep Dive

THIS MARKET TREND SHOWS THE BITCOIN PRICE IS READY FOR NEXT LEG UP

Bitcoin looks poised for its next leg up.　　An ongoing battle between the bulls and bears is currently underway for the 200-day moving average of the bitcoin price. The 200-day moving average is often viewed by traders and market analysts alike as a key indicator for the momentum of a given asset, thus the recent resistance and chop above and below the indicator is quite telling. 　　However, bears beware, as one of the most significant bitcoin market trends over the past two years is foreshadowing some extreme strength in the price of bitcoin over the coming weeks/months.　　The bitcoin exchange balance, often covered in The Daily Dive, continues the dominant trend it has been following since the start of 2020 — massive accumulation and withdrawal of coins from exchanges.　　In fact, there have only been two other times that more bitcoin have been withdrawn from exchanges on a net basis in the history of Bitcoin. The first was directly following the COVID-19-induced derivatives blowup, which tanked global markets and crashed the price of bitcoin by nearly 50% in a single day.　　The second occasion was in November of last year, following the announcement of an adoption of a corporate bitcoin standard by business intelligence

2021-08-21Deep Dive

$185 million worth of LUNA burned in past month as Terra user base grows

Terras native token LUNA rallied 79.66% during the past seven days as the protocol developed by South Korean firm Terraform Labs surpassed Polygon (MATIC), recording the third-highest total value locked (TVL) among blockchains.　　LUNA, which is part of an algorithmic balancing system that is used to stabilize the price of the protocols stablecoins, traded today at its all-time high (ATH), with the price hitting $33,3.The exploding ecosystem　　The blockchain platform incentivizes trading between LUNA and Terras stablecoins when it needs to reduce or increase the stablecoin supply and is currently witnessing a growing awareness as the price of its native token surged more than 460% during the past 30 days.　　With $6,21 billion TVL, Terra became the third among blockchains, following Ethereum (ETH) and Binance Smart Chain.　　Major exchange listings boosted the Terra user base growth significantly as Wrapped LUNA (WLUNA), an ERC-20 token thats intended to represent Terra (LUNA) on the Ethereum blockchain and TerraUSD (UST), a native Terra stablecoin pegged to the US Dollar, both became tradable on Coinbase Pro. Wormhole, Anchor, Columbus-5　　The recent launch of Wormhole, a “bridge” protocol that connects Solana (SOL) and other blockchain networks, including Terra, that is set to facilitate tokenized assets, including non-fungible tokens (NFTs), move

2021-08-20Deep Dive

Today's Market Movers - Altcoins

The cryptocurrency market got off to a slow start on Aug. 19 after stimulus tapering talks from the U.S. Federal Reserve put pressure on global financial markets, but momentum within the crypto market picked up in the afternoon session as Bitcoin (BTC) bulls finally managed to break above the $46,000 level.　　While most altcoins were slow to warm up on Thursday, several altcoins led the way with gains in excess of 20% due to major protocol upgrades and exchange listings.　　Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24-hours were Voyager Token (VGX), SwissBorg (CHSB) and Energy Web Token (EWT).Voyager 2.0 excites investors　　VGX is the native coin of the Voyager platform, a cryptocurrency broker that provides trading services to retail and institutional investors.　　VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for VGX on Aug. 16, prior to the recent price rise.　　The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historic and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.　　As seen on the chart above, the VORTECS™ Score for VGX turned green on Aug.15 and proceeded to

2021-08-20Deep Dive

Coinbase Plans to Spend More of its Cash on Crypto After USD 500M Buy

The crypto exchange giant Coinbase has stated that it wants to spend even more of its profits on buying cryptoassets – but has admitted that its plans will hinge on the sectors growth prospects.　　The company and its CEO Brian Armstrong were speaking after Coinbase unveiled plans to splash USD 500m of balance sheet funds on coins, including ethereum (ETH), as well as unspecified “proof-of-stake assets” and decentralized finance (DeFi) tokens “in addition to bitcoin (BTC).”　　Armstrong made his announcement on Twitter, while the company also affirmed its plans in a blog post – explaining that it would be investing 10% of all of its quarterly profits in crypto purchases.　　But Armstrong hinted that the move might lead the company yet further away from its still largely cash-based model. He wrote:　　“I expect this percentage to keep growing over time as the cryptoeconomy matures. Hopefully, over time we can operate more of our business in crypto – today it is still a mix.”　　The CEO claimed that the Coinbase board had signed off on the move after agreeing to a “change in our investment policy.”　　　　The firm wrote that it had “committed to invest USD 500 million of our cash and cash equivalents” in the purchases.

2021-08-20Deep Dive

Coinbase to Add $500 Million in Digital Assets

Coinbase has received approval from its board to make a purchase of over $500 million worth of cryptocurrencies on its balance sheet. The firm would also reinvest future profits in the new asset class.　　Coinbase continues to bet big on crypto　　As part of the companys filing for its direct listing on the Nasdaq, the firm revealed that it was holding roughly $365 million in cryptocurrencies. Although Coinbase is a crypto-native company, it holds fewer digital assets compared to MicroStrategy and Tesla, two companies that the exchange has helped with making Bitcoin purchases.　　In terms of revenue, Coinbase beat analyst estimates in Q2, generating $2.23 billion compared to the forecast of $1.78 billion. The firms net profit resulted in $1.6 billion, a 4,900% increase compared to the same period last year.　　The crypto exchange has benefitted from high trading volumes over the last quarter through its transaction fees, with the explosive rally and a crash that followed.　　Coinbase has announced a change in its investment policy, with a commitment to invest $500 million of its cash and cash equivalents in cryptocurrencies. The firm will also allocate 10% of its quarterly net income into various digital assets.　　The major crypto exchange also noted that Coinbase would become

2021-08-20Deep Dive

Coinbase will buy $500M in crypto and invest 10% of all future profits in digital assets

CEO Brian Armstrong expects the percentage of profits spent on cryptos to grow over time.　　Leading U.S. exchange by trade volume, Coinbase, has revealed plans to add half a billion dollars worth of crypto to its balance sheet.　　Coinbase CEO, Brian Armstrong, announced that the companys board had approved the crypto spending spree in an August 20 tweet, adding that Coinbase also plans to invest 10% of all profits generated into digital assets moving forward.　　Armstrong also indicated the company hopes to increase the percentage of profit it allocates to cryptocurrency purchases over time.　　A blog post published by Coinbase on the same day announces that the move will establish the exchange as the first publicly-traded company to hold Ether, DeFi tokens and Proof-of-Stake assets on its balance sheet.　　The announcement emphasizes Coinbases commitment to making long-term investments in the crypto sector, stating:　　“Our investments will be continually deployed over a multi-year window using a dollar cost averaging strategy. We are long term investors and will only divest under select circumstances, such as an asset delisting from our platform.”　　The post adds that future investments may be informed by its customers holdings, suggesting Coinbase may add an asset to its balance sheet should users make significant custodial

2021-08-20Deep Dive

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