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Top Six Tips When You Start Investing in Cryptocurrency

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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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Vasil Hard Fork: Cardano Metaverse Project Cardalonia Prepares for Land NFT Mint as $LONIA Token Presale Progresses

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Cardano blockchain-based metaverse project, Cardalonia, has revealed its plans to commence the Terrania Land NFT sale in the next month. The event will take place after $LONIA token holders are accepted as the first to participate in the land minting at the end of the token presale.

Participate in the $LONIA Pre-Sale

The presale has been slated for after the highly anticipated Vasil Hard Fork combinatory event that has been postponed until a couple of weeks later. The hard fork will have a significant positive impact on the Cardano blockchain’s throughput and speed.

The Cardalonia Metaverse project has partnered with Readyplayerme and other strategic partners.

$LONIA token holders who have an active stake on Cardalonia Vault and have Ada handle NFT address can create and customize their avatars.

The customized avatars will come in handy for deployment when they can access the Metaverse game when it’s available.

Cardalonia is among the trailblazers on Cardano blockchain to build a non-custodial staking vault where users can keep their assets in their wallets, stake them, and earn attractive rewards of up to 20% APY.

While writing this post, over 7 million $LONIA tokens at an estimated value of over 500,000 ADA have been staked by investors.

Cardalonia considers itself a play-to-earn (P2E) and creator-centric platform where users have access to $LONIA token-powered CNTs and NFTs. Users have a platform where they can create, customize, and have personalized experiences on the Cardalonia metaverse.

They can simultaneously mine, hunt, and extract valuable resources such as NFTs they can trade on jpg.store and other Cardano NFT marketplace.

$LONIA tokens are multipurpose digital assets that holders can use for staking to earn 20% Annual Percentage Yield APY rewards. The staking model shares some similarities with Cardano staking although it offers higher APY.

Holders can also be early birds in the Cardalonia land NFT sale provided they meet the basic requirement of $7000 $LONIA tokens.

Join the $LONIA Token Pre-Sale

Crypto investors are invited to join the $LONIA token presale and stand a good chance of paying 1 ADA coin for 12 LONIA.

Click this link to join the presale

Cardalonia’s mission is to establish itself as the leading metaverse project on the Cardano ecosystem with an impressive reputation for careful approach according to a peer-reviewed system.

As a P2E project on the Cardano blockchain, Cardalonia has continued to gain immense popularity in the crypto world, thanks to its impressive attributes such as usability, novelty, and dedicated team.

Social

Keep up with the team and the project’s development via the following social media handles:

Website: https://cardalonia.io/

Twitter: https://twitter.com/cardalonia

Discord: https://discord.gg/YChadw7fVD

Telegram:https://t.me/cardalonia

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Crypto Veterans Shed Light on CBDC and Stablecoins Including TUSD, Endorsing Competition in Money Market

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The renowned documentary series “The Future is Now” has recently shifted its focus to the blockchain industry. The team produced its first-ever crypto-related documentary titled “Aligning the Future,” shedding light on the development of Bitcoin and other digital currencies across the globe.

The show stars H.E. Justin Sun, TRON founder and the Ambassador and Permanent Representative of Grenada to the WTO, congressman William Soriano from El Salvador, and many other respected crypto leaders, who shared their insights on the future of crypto.

H.E. Justin Sun, TRON founder and the Ambassador and Permanent Representative of Grenada to the WTO

“Eventually we will have three kinds of nations. One kind of nation will still use traditional fiat, but some countries will start to evolve into CBDCs, doing central bank digital currencies. But we will also see some countries like El Salvador and Caribbean countries in the future that might adopt Bitcoin or cryptocurrency as their legal tender or financial settlement infrastructure.” said H.E. Justin Sun when asked about his view of CBDCs (central bank digital currencies) across the globe.

He also added that as a believer in Hayek’s theory, he has faith in a currency market that is open to entire competition and embraces all types of currencies. Meanwhile, as a veteran in digital currency, Sun believes that CBDCs can be listed on blockchains, including Ethereum and TRON, in the way that stablecoins such as USDT, TUSD, and USDC are listed, which will undoubtedly bring the growth of the crypto industry to the next level. He also pointed out that many underprivileged people are still denied access to traditional financial services. The elimination of the threshold to financial infrastructure will benefit the whole world’s population. Blockchains, including TRON, have already provided a relatively affordable and accessible gateway to financial services and are capable of bringing more convenience to users.

Stats about TRON’s stablecoin infrastructures

Another leader who holds the same view as Sun is William Soriano, congressman of El Salvador, who quoted local facts to prove his point. El Salvador is the first country that announced plans to adopt Bitcoin as legal tender, a seemingly unconventional move backed by ample reasons. 

William Soriano, Congressman of El Salvador

As a prominent advocate for Bitcoin and blockchain, Soriano said only 30% of all Salvadorians, or roughly 1.2 million people, have access to a bank account. In contrast, 3.8 million of them now have access to a digital wallet, i.e., 80% of the population has already been financially included, a feat on its own.

Salvadorians using digital currencies can save on wire transfer fees typically required by traditional banking systems for international money transfers. This is due to the unique operation mechanism of digital currencies, where blockchain technology is being utilized for clearing and settlement. As it stands, blockchain technology and cryptocurrencies are helping more and more Salvadorians access financial resources and are surely gaining nationwide recognition. However, value stability is still a problem that Bitcoin faces due to its volatile prices.

In light of this, recent attention has been focused on such solutions that both enjoy the benefits of blockchain technology while withstanding price volatility. Stablecoins, as previously mentioned by H.E. Justin Sun, are digital currencies deployed on the blockchain and pegged to the U.S. dollar, lowering the entry barrier to financial inclusion while offering a solution to volatility.  

Although stablecoins such as USDT and USDC might enjoy higher popularity at the moment, TUSD is arguably the best-performing and most reliable. Furthermore, as the only stablecoin attested live on-chain and audited in real-time by the renowned Armanino, TUSD prioritizes industry-leading security and transparency.

In March 2021, TUSD became the first native U.S. dollar-pegged stablecoin on Avalanche. One month later, it went live on TRON, becoming the second U.S. dollar-pegged stablecoin natively launched on TRON following the stablecoin frontrunner USDT.

In addition, TUSD has been an early mover in multi-chain deployment, now supported by a succession of blockchains that include BNB Chain, Fantom, Polygon, and Cronos, receiving industry-wide endorsement. Currently, the total supply of TUSD has surged past 1.4 billion, ranking fourth among its peers.

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Pyramid Pad Announces Upcoming Token Airdrop

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Pyramid Pad Announces Upcoming Token Airdrop

Pyramid Pad, a multi-tool project running on BNB Chain, announced an imminent airdrop for its token, $PYRA. The event will take start on April 9 and end on May 23. Also, it should kick-start the project’s growth and increase awareness.

During the PYRA airdrop, every participant will get 1,800 PYRA for joining and another 200 tokens for each referral. Also, the price of 1 PYRA will be 0,014 USD. To join the airdrop, interested members have to complete the following tasks:

  1. Join the Pyramid Pad Telegram channel and submit their usernames.
  2. Subscribe to the project’s YouTube channel
  3. Join the Pyramid Pad Telegram official chat.
  4. Follow Pyramid Pad on Twitter.
  5. Join the project’s Discord channel.
  6. Submit their information details.

PYRA is a BEP-20 token with numerous functions within the Pyramid Pad ecosystem, including staking and farming. It has a total supply of 1,000,000,000 units. The platform will airdrop 5,000,000 (5%) of it during the upcoming event. PYRA holders can use their tokens on any of the Pyramid Pad features, such as:

  • Pyramid Launchpad – A multi-blockchain supported platform where users can launch their coins and raise funds for their projects.
  • Pyramid Staking – A proof-of-stake platform running on BNB Chain and enabling users to earn a passive income from staking.
  • Pyramid Swap – A service that enables users to swap tokens from their Private Key Wallet or Trading Account. The former provides the benefit of non-custodial, on-chain settlement. Meanwhile, the latter offers faster settlement and no network fees.
  • Pyramid NFT Marketplace – This feature allows users to create, manage, buy, sell, and exchange NFTs. 

About Pyramid Pad

Pyramid Pad is an all-in-one, multi-feature project offering numerous DeFi tools and solutions. It runs on BNB Chain and aims to become a far-reaching ecosystem supporting IDO launches, staking, and an NFT marketplace. The platform launched in Q3 of 2021 and, since then, has developed its concept, tokenomics, and struck several strategic partnerships. Recently, Pyramid Pad has obtained a successful smart contract audit from the industry-leading auditor, Solidproof.

For more information about Pyramid Pad, please follow the links below:| Website | Twitter | Telegram |Whitepaper| YouTube| Discord|

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