One of the problems facing those new to the cryptocurrency markets is the level of complexity in using exchanges and making trades. Some degree of technical knowledge is required to open, navigate and trade on a crypto exchange account, get one thing wrong and your virtual currency disappears into the ether. Symmetry Fund aims to alleviate the digital distress by offering a balanced cryptocurrency and ICO investment fund.
If you were lucky enough to buy Bitcoin early on, the chances are that you are retired now. No other investment in the world has performed like BTC over the last few years and those that saw the revolution coming are now multi-millionaires. This success has led to an influx of investors trying to find the next big cryptocurrency so that they can make thousands of percent returns in only a few years. In this article, I will give you the best tips to help you to find the next Bitcoin.
Taking matters into his own hands, a Russian businessman buys two electric power plants for the purposes of cryptocurrency mining.
For those who are active participants in cryptocurrency mining, there are a number of issues to be concerned with. One such problem is how a country’s national government feels about cryptocurrency, such as either accepting it or banning it outright. Another major concern is having access to the power needed for mining crypto in the first place. One Russian businessman has decided to take matters into his own hands and has bought two electric power plants expressly for the purpose of crypto mining.
With regulation coming thick and fast across Asia the effects on the markets can be seen instantly. Last week a bucket-load of FUD caused a sell-off when a number of large news agencies misreported that South Korea was banning crypto trading. This wasn’t the case at all and the country remains open, Russia could soon be joining them as it prepares to vote on legalizing crypto exchanges.
According to Newsweek, citing Russian media, the Ministry of Finance has drafted a new bill to legalize cryptocurrency trading on organized trading platforms. It will submit the bill to the federal legislature for voting in February.
The Ukranian government is planning to form a group that will oversee regulatory measures for cryptocurrencies and cryptocurrency exchanges.
As cryptocurrencies are becoming more popular and widespread, many governments worldwide are introducing regulatory frameworks for digital currencies and exchanges. In 2017 the whole cryptocurrency market experienced an explosive growth rate which drew a lot of attention from governments and financial institutions.
Binance CEO Zhao Changpeng has said Warren Buffett “does not understand cryptocurrency” and that he is making “a big mistake.”
‘Making A Big Mistake’
In brief comments to Bloomberg TV, the Hong Kong exchange chief countered Buffett’s warnings about cryptocurrency this week, in which he forecast all would “come to a bad ending.”
“I think he knows stock investment and equity investment very well, but I do not think he understands cryptocurrency at all,” Zhao said.
It is what it is; I still respect […] the other parts of his expertise, but I think on cryptocurrency he’s making a big mistake.
Venezuela’s president may have to put his Petro plans on hold as the country’s opposition party has outlawed the proposed state-controlled crypto.
As decentralized cryptocurrencies continue to shine and grow in interest, certain governments are becoming aware of the benefits that virtual currencies have. Countries like Russia and Venezuela are reportedly aiming to introduce their own state-controlled cryptos soon, with latter seeming to make great progress in doing just that.
In a bid to fight both hyperinflation and US-imposed sanctions, Venezuela’s president, Nicolás Maduro, recently announced that he would be developing the Petro, a national digital currency that would be backed by some of the country’s most precious natural resources, including oil. In fact, each Petro would be supported by one of five billion barrels of oil.
Bitcoin regulations may be on the way as the US Senate Banking Committee is scheduled to meet with top market regulators in February over cryptocurrency.
The noose may be tightening around Bitcoin and its digital brethren in the United States in the coming months. According to Reuters, the Senate Banking Committee will be meeting with some top financial regulators in early February. Their topic of concern – cryptocurrency.
Are Regulations Coming?
Right now, there are no federal regulators that oversee cryptocurrency within the US. The government (and most importantly, the IRS) view crypto as property that’s subject to capital gains taxes.
What happens in Asia often has a knock-on effect on trading in Europe and the US later in the day. A grim picture has been painted today as all cryptos, bar one or two, are in the red and falling. Police and tax inspections on exchanges across South Korea could be the cause alongside misreporting by the mainstream media of an outright crypto ban.
The advent of cryptocurrencies is triggering the creation of innovative business concepts and new Bitcoin-based financial instruments. Now, Michael Novogratz is starting a merchant bank, to be named Galaxy Digital, which will exclusively serve the cryptocurrency and blockchain space.
Merchant Bank Dedicated to Cryptocurrencies to Reshape the Finance World
Michael Novogratz, Chairman and Chief Executive Officer of Galaxy Investment Partners, is planning to establish and make public the first merchant bank that will focus on cryptocurrencies and blockchain-related ventures.
Novogratz has already proposed a Transaction to establish Galaxy Digital as a full service, digital assets merchant bank, which will concentrate in the following areas: distinct trading, asset management, principal investment, and advisory work.