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Top Six Tips When You Start Investing in Cryptocurrency

Team Bitcoin Daily

Published

3 years ago

on

The cryptocurrency market has been on fire this year and growing numbers of people are curious about how to start investing. It can be confusing if you don’t understand how it works. However, you can learn what you need to know and start out slowly. Whether you want to buy bitcoin or spread your investments between different cryptocurrencies, it is important to understand how it works. Continue reading to learn six tips when you start investing in cryptos.

1. Use a Crypto Wallet

When you buy crypto on an exchange, you can keep it there. However, crypto is mostly decentralized and uninsured; if someone hacks the exchange and takes your crypto, you won’t be able to recover it. You can use a digital crypto wallet or a hardware device to store your crypto investments. Once you buy Bitcoin or another crypto, send it to the wallet using its unique code.

Remember that if you lose your crypto wallet or you lose your passwords to access it, your crypto will be lost forever. Make sure that you keep it secure just as you would a wallet with paper money

2. Be Aware of Transaction Fees

When you buy, sell, or convert cryptocurrency, you will have transaction fees. The fee is usually a fraction of the amount of crypto you are using in the transaction, and it varies depending on the amount of congestion and the amount you are using. When bitcoin is moved, the transaction is added to the blockchain, where there is a ledger that keeps a record. These charges are a part of investing in crypto so you need to be prepared for them and factor them in.

3. You Will Pay Taxes on Your Gains

If you make money investing in cryptocurrency, you will have to pay taxes on your gains. You have to sell it for a profit to pay taxes and it is your responsibility to make sure that you report it. You need to know how much money you make or lose on your investments.

Trading cryptocurrency is still mostly unregulated, so most exchanges do not keep track of this information the way that banks or traditional brokerage firms do your traditional investments. Make sure that you report your gains to the CRA and keep good records so that you can calculate whether or not you owe income taxes at the end of the year.

4. Be Serious About Cyber Security

It is very important to treat your cryptocurrency accounts just as you would any sensitive financial information. Do not use passwords that are easy to figure out. You should make them unique and complex. If you have the option for two-factor authentication, you definitely want to enable it. If you use more than one exchange, make sure that you have different login information for each one. Throughout the year, change your password two or three times to make sure that they are impossible to figure out.

5. Be Aware That Cryptocurrency Is Not Insured

When you deposit money into a CDIC-insured Canadian bank, your money is safe if the bank fails. You never have to worry about what happens to the bank because you will get your money back. Crypto doesn’t work the same way. If the exchange or platform that you are using has a problem, such as being hacked or going under, you will lose anything that you have on the platform. This is why you should always move your crypto assets to your own personal digital or hardware wallet.

6. Start Out Slowly

When you watch different cryptos increase dramatically in one day, it can be tempting to invest a lot of your money in hopes of riding it up. However, you need to know that it can go back down as quickly as it went up. Crypto is still largely unregulated and quite volatile, and you should start off slowly.

You will want to diversify your holdings by choosing two or three different ones to start. Over time, you can add in other cryptos and increase how much you have invested. Take it slow while you are learning and never invest more than you can afford to lose. You can learn as you go and invest more when you have a better handle on the market.

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Team Bitcoin Daily

The Bitcoin Daily is one of the most reliable and leading portal about Technology News, Latest Updates, Financial News, Business and any all subjects related to technology and blockchain.

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Blockchain

A fresh take on crypto: Saitama Inu transforms into the Saitama Kingdom Token

sky0x.eth

Published

4 weeks ago

on

August 12, 2024

By

In a spectacular turn of events, the beloved Saitama Inu is back, reigniting the WolfPack community with the launch of the Saitama Kingdom Token. This new meme token aims to bring back fun in crypto with games and rewards, and strengthen the unity of the WolfPack community. 

A New Era for the WolfPack Community

First, there was the Saitama Inu meme token that captured the hearts of many. It evolved into Saitama, a utility token, and then into the powerful SaitaChain Coin (STC).

Now, SaitaChain introduces a whole new meme token, Saitama Kingdom Token, designed to reignite the fun in crypto. Built on the robust layer 0 SaitaChain Blockchain, the WolfPack community is set to embark on an exciting new adventure with the ultimate meme token.

Reborn as the Saitama Kingdom Token, this token is designed to infuse the crypto world with excitement and engagement. With Saitama the Wolf as its mascot, the token is set to deliver interactive games, enticing prizes, and wild rewards. This is not just a token; it’s an experience created to bring joy and camaraderie to the crypto world.

Community-Driven Success

Inspired by the legendary strength and unity of the WolfPack community, Saitama Kingdom Token is poised to build a thriving crypto kingdom. It’s a call to all enthusiasts to join this dynamic and fun-filled journey. The Saitama Kingdom Token is more than just a comeback; it’s a celebration of community spirit and shared success.

Exciting Rewards and a World of Entertainment

It also extends a warm invitation to friends worldwide to explore the Crypto Kingdom and shares the exciting news that a free SaitaCard will be given with every generous purchase of Saitama Kingdom tokens, strengthening the bond between the SaitaChain ecosystem and the vibrant Wolfpack community. (T&C apply)

A Legendary Legacy

Saitama Inu’s return as the Saitama Kingdom Token marks a legendary comeback in the crypto realm. With a commitment to redefining meme and game coins, Saitama stands tall, proud of the flourishing kingdom he has helped create, calling all crypto lovers to join the adventure and be part of the community-driven success story that is Saitama Kingdom Token.

SaitaCard: Your Crypto, Your Way

Explore the Crypto Kingdom and enjoy exciting rewards, including a free SaitaCard with every generous purchase of Saitama Kingdom tokens. (T&C apply)

SaitaCard, a virtual and physical crypto debit card powered by Visa, allows hassle-free management for all your digital assets. Compatible with the SaitaPro app, users can enjoy complete control of their assets through the app. The crypto card is available in over 155+ countries, with fund loading through various cryptocurrencies, swipe, online, and tap-to-pay payment options, and ATM withdrawal anywhere in the world. Moreover, with crypto withdrawal at any time and multi-currency IBAN accounts, this card is making everyday purchases seamless and convenient.

SaitaChain Blockchain: Powering up the Future

Built on the cutting-edge SaitaChain Blockchain (SBC), the Saitama Kingdom Token benefits from unparalleled scalability, security, and low transaction costs. As a layer zero blockchain, SaitaChain provides a foundational infrastructure that supports high-throughput applications and cross-chain compatibility, enabling different blockchain networks to communicate seamlessly.

The layer 0 architecture enhances the overall efficiency and interoperability of the blockchain ecosystem. With a strong global community of over 400k members, SaitaChain is set to revolutionize the future of digital transactions.

For more details, stay tuned to discover the journey paved for the Saitama Kingdom Token. This is a comeback for the ages, where the wolves rule and the fun never ends!

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Gam3: Revolutionizing Blockchain Gaming with Layer 3 Technology on Arbitrum

sky0x.eth

Published

2 months ago

on

July 22, 2024

By

The blockchain gaming industry is on the cusp of a revolution, and Gam3 is leading the charge. As an AI-driven blockchain gaming platform, Gam3 is set to redefine the gaming landscape by leveraging the advanced capabilities of Arbitrum’s Layer 3 technology. With its seamless integration of Web3 and SocialFi elements, Gam3 offers a unique, community-driven gaming experience that stands out in the rapidly growing GameFi sector.

Introducing Gam3: The Future of Blockchain Gaming

Gam3 is more than just a gaming platform; it’s a comprehensive ecosystem designed to provide players with unparalleled gaming experiences. By harnessing the power of Arbitrum’s Layer 3 technology, Gam3 ensures fast, secure, and scalable transactions, making it the ideal environment for both casual gamers and hardcore enthusiasts.

Key Features of Gam3:

  • AI-Enhanced Gameplay: Enjoy a dynamic and immersive gaming experience powered by advanced AI algorithms.
  • Community-Driven: Engage with a vibrant community of gamers, developers, and blockchain enthusiasts.
  • True Ownership: Own and trade in-game assets with complete transparency and security on the blockchain.

Why Gam3 is Built on Arbitrum?

Arbitrum is one of the leading Layer 2 scaling solutions for Ethereum, designed to offer high throughput, low latency, and low-cost transactions without compromising security. Here are the reasons why Gam3 chose to build on Arbitrum.

1. Superior Scalability: Arbitrum’s Layer 3 solution allows Gam3 to handle thousands of transactions per second, ensuring a smooth and lag-free gaming experience even during peak times. This scalability is crucial for maintaining a high-quality user experience as the platform grows.

2. Cost Efficiency: Transaction fees on Arbitrum are significantly lower than on the Ethereum mainnet. This cost efficiency is passed on to the users, making it more affordable to engage in gaming activities, trade assets, and participate in the Gam3 ecosystem.

3. Robust Security: Built on Ethereum, Arbitrum inherits its robust security features. This ensures that all transactions and in-game assets on Gam3 are secure and tamper-proof, providing peace of mind to users.

4. Interoperability: Arbitrum’s compatibility with Ethereum means that Gam3 can easily integrate with other Ethereum-based projects and assets. This interoperability expands the potential for cross-platform collaborations and innovations within the Gam3 ecosystem.

Become Gam3 node operator:

To participate in this groundbreaking platform, users can purchase Terra node keys, which are essential for running nodes and contributing to the Gam3 network’s security and efficiency. Starting at just $349, these keys are a valuable investment for those looking to be part of the next big thing in blockchain gaming.

Why purchase a Terra Node key?

  • Support the Network: Help maintain the security and stability of the Gam3 ecosystem.
  • Earn Rewards: Receive incentives and rewards for running a node and supporting the network.
  • Be Part of the Future: Join a forward-thinking community that is shaping the future of gaming and blockchain technology.

The Terra nodes are in high demand, starting at $349 for the Early Adopter phase. Following this, the official release will commence with the first 5,000 keys priced at $399, with the price increasing by $50 after every subsequent batch of 500 keys sold. This structured and predictable pricing tier will continue up to a total of 50,000 keys. Own a key today and become a pioneer in the next generation of blockchain gaming with Gam3.

For more information and to secure your node key, visit our website and join the Gam3 community today.

Find more: Website | Twitter | Discord | Telegram Channel | Telegram Discuss|

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Blockchain

Ethora: The Degen Binary Options Trading Platform powered by AI, on Base Network

sky0x.eth

Published

2 months ago

on

July 20, 2024

By

Ethora, the world’s most degen Binary Options platform powered by AI, is gearing up for its much-anticipated Initial DEX Offering (IDO). This revolutionary platform, designed by three DeFi enthusiasts and options trading experts, is set to transform options trading by offering ultra-short expiry Binary Options. From July 23 to July 29, Ethora’s IDO will take place across multiple prestigious launchpads:

  • Kommunitas
  • SuiPad
  • Spores
  • TrustFi
  • Huostarter
  • BscLaunch
  • WeLabs
  • KDG
  • Pixelrealm
  • Zenix Launchpad

Exciting News: Ethora Token ($ETR) Listing on MEXC Exchange

Mark your calendars for July 31 at 9 AM UTC! The Ethora token ($ETR) will be listed on the MEXC exchange, offering traders and investors a chance to engage with this pioneering platform.

Ethora: For Degens, By Degens

Ethora allows users to predict the movement of BTC and other asset prices in ultra-short time frames—up to 3 minutes—with instant payout and gratification. This innovative approach has already demonstrated remarkable achievements:

  • $20M volume in the first month of testnet
  • $2M fees collected by the platform
  • 15K community members
  • 25K Galxe participants

Key Product Advantages

  1. No Liquidation: Ethora offers a clearly defined risk-reward ratio, ensuring traders are free from the risk of liquidation.
  2. Quick Binary Options: Predict the price movement of BTC or other assets, whether Up or Down, in just 3 minutes, with instant payout.

Why Ethora?

  • Intuitive and Swift User Experience: Seamlessly designed for quick and efficient trading.
  • Short Expiry Binary Options: Trade with expiry times as short as 3 minutes.
  • One-Click, Gasless, Instant Trading: Experience trading without the hassle of gas fees.
  • Diverse Market Access: Wide range of assets available for trading.
  • Market Making Vaults: Earn up to 90% real yield through market-making vaults.
  • Powered by AI: Sophisticated algorithms in Ethora can empower binary options traders to trade 10 times better

AI and Machine Learning in Ethora

Automated trading has revolutionized the financial industry, offering unprecedented speed, efficiency, and accuracy. By leveraging advanced mathematical models and machine learning capabilities, Ethora trading algorithms can analyze vast amounts of data, identify patterns, execute orders, and manage risk—all at speeds unattainable by human traders.

Future Plans

Ethora is not just stopping with its current offerings. Here are some exciting future plans:

  • Integration with New Chains: Ethora will expand to new chains such as Berachain, Monad, and MegaETH, enhancing its reach and capabilities.
  • Listing of New Trading Pairs: Ethora will continuously add new trading pairs for trending coins to keep up with market demands.
  • New Product Features:
    • Between Range: A feature allowing users to predict if an asset’s price will stay within a certain range.
    • Copy Trading: A feature enabling users to replicate the trades of successful traders.
    • Chat Room: A social feature where traders can discuss strategies and market trends.
  • Deployment of Dapp Chain on Altlayer: Ethora will deploy its Dapp chain on Altlayer, using $ETR as the gas fee, enhancing scalability and efficiency.

About Ethora

Ethora ($ETR) is the world’s most degen AI Binary Options platform, powered by the Base network. Founded by three DeFi degens and options trading experts with backgrounds in various centralized exchanges and trading companies, Ethora provides a groundbreaking trading experience with its ultra-short expiry Binary Options and innovative features, powered by AI and machine learning.

For more information, visit Ethora’s website and follow us on Twitter and Discord for the latest updates.

Website: https://www.ethora.io/

Twitter: https://x.com/Ethora_ 

Discord: https://discord.com/invite/ethora 

Ethora’s IDO and token listing present a unique opportunity for traders and investors to join the most degen Binary Options platform in the market. Don’t miss out on this chance to be part of the future of options trading!

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