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Top Six Tips When You Start Investing in Cryptocurrency

Team Bitcoin Daily

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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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Blockchain

BitDelta’s Ultimate Trade-a-Thon: $50,000 Up for Grabs

Team Bitcoin Daily

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As part of its continuous effort in growing a vibrant community of traders and crypto-savvy people, BitDelta is launching yet another trading competition, with an overall prize pool of $50,000.

Campaign Period: June 10 – June 24, 2024

The competition is open to both existing and new users, and the top 15 traders will have the chance to win a share of $50,000.

Here’s what you need to do to take part of the competition:

  • Sign up and get verified if you are new to BitDelta.
  • Complete basic KYC.
  • Deposit a minimum of $50 into your spot wallet.
  • Make at least 5 trades on the selected asset pairs.

Tokens to Trade

BitDelta is kicking off the summer season in style, with the most popular spot pairs to be traded:

  1. Bitcoin (BTC/USDT)
  2. Ethereum (ETH/USDT)
  3. Solana (SOL/USDT)
  4. Ripple (XRP/USDT)
  5. Avalanche (AVAX/USDT)

Winners will be selected based on the following criteria: KYC status, trading volume, and compliance to T&Cs

It is important to note that BitDelta is not directly or indirectly associated with the promotion of any of the mentioned tokens – specifically BTC, ETH, SOL, XRP, and AVAX.

BitDelta holds no vested interest in their respective protocols or liquidity pools.

The campaign is strictly for spot trading of the mentioned token pairs on BitDelta. It does not involve or promote any underlying associations with these tokens’ liquidity pools or the broader protocols of Solana Blockchain or Ripple.

The AVAX token campaign is limited to spot trading and does not engage with or endorse its lending-based DeFi aspects. Always consider the security disclaimers and the volatile nature of these tokens when trading. 

About BitDelta

BitDelta is a versatile trading platform that caters to both retail and institutional traders. It allows users to trade a wide range of assets including cryptocurrencies, stocks, forex, and derivatives.   The platform offers a comprehensive trading experience through a range of features including but not limited to:

  •  Spot Trading

  •  Derivatives Trading

  •  Buy Crypto with Card

  •  Token Launchpad Services 

  •  SafePass

 With a focus on security, BitDelta offers robust encryption and institutional-grade protection to safeguard user transactions and data. The platform is designed to provide a seamless trading experience, supporting cross-asset trading and offering features like algo trading and more. BitDelta, as an offshore regulated platform, is dedicated to enhancing user engagement and investment capabilities across multiple financial markets.

To learn more about BitDelta, visit: Website | X | Telegram | Instagram | LinkedIn

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Blockchain

Unlock Rewards with Unizen’s BURNDROP: 246 Million ZCX Token Burn and Airdrop

Team Bitcoin Daily

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Unizen is thrilled to announce a groundbreaking initiative designed to reward and engage our amazing community like never before. We’re committing ~246 million ZCX tokens (~36% of the circulating supply) to a combined burn and airdrop program, sparking an exciting wave of incentives for both social and platform engagement. 

The BURNDROP Breakdown

  • Allocation Details:
    • Airdrop Allocation:
      • Total Airdropped: ~111 million ZCX tokens.
      • Percentage of Total Supply: ~11.7%.
      • Percentage of Circulating Supply: ~16.0%.
      • Market Value: Approximately $22 million USD.
  • Burn Allocation:
    • Total Burned: ~135 million ZCX tokens.
    • Percentage of Total Supply: ~14.2%.
    • Percentage of Circulating Supply: ~19.5%.
    • Market Value: Approximately $27 million USD.
  • Total Commitment:
  • Combined Total: ~246 million ZCX tokens.
    • Percentage of Total Supply: ~25.9%.
    • Percentage of Circulating Supply: ~35.5%.
    • Total Market Value: Approximately $50 million USD.

The BURNDROP program will be rolled out in strategic phases, each tailored to maximize community interaction and reward loyalty. Initially, we’ll focus on social engagement, gradually shifting towards incentivizing platform activity as well. This phased approach ensures sustained excitement and continuous participation. We will officially announce when the program is live.

Important: THE ONLY WAY to get exclusive updates on the BURNDROP is to follow us on Twitter and join our official Telegram channel.

Future and Imminent: The BURNDROP Portal

We are in the process of developing a rewarding portal that leverages on-chain data, including trade volume and frequency, to boost user engagement. This proprietary system is tailored to effectively reward active wallets linked to our platform, ensuring that rewards correspond directly with user contributions. Keep an eye out for further updates as we refine this innovative approach, designed to enhance participation and loyalty.

Stay Engaged, Participate, and Feel the Heat

This program is not just about rewards; it’s about building a stronger, more connected community. With every phase, we aim to enhance user experience and bring more value to our platform.

Join the Unizen Movement

The hyperdeflationary BURNDROP program is just the beginning. As we roll out each phase, we invite you to be an active part of our community. Engage with us on social media, share your experiences, and watch as Unizen evolves with the support of our incredible people.

Remember: THE ONLY WAY to get exclusive updates on the BURNDROP is to follow us on X and join our official Telegram channel.

Let’s ignite the future of decentralized finance together. Feel the heat, embrace the excitement, and join us in making ZCX a cornerstone of your digital asset portfolio.

About Unizen:

Unizen is a leading DEX aggregator, enabling seamless cross-chain swaps and DeFi access to UTXO assets like native Bitcoin and Dogecoin. With our in-house trade splitting and routing algorithm, Unizen outperforms other DEX aggregators in minimizing slippage and reducing gas costs.

Additionally, Unizen aggregates top interoperability providers to offer the fastest and most cost-efficient access to liquidity across multiple blockchains, ensuring optimal trading outcomes and enhanced user experience.

We continually build on this foundation to form a UNIZEN ecosystem, considering tokenomics and utility in tandem, including but not limited to:

  • Governance
  • Earn 2.0
  • ZEN Chain 
  • And more +

Learn more here:

X I Discord I Telegram I Website I  Application I CMC

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Blockchain

Big Red Leads the Way: Avalanche Blockchain Coin Debuts on ESPN

Team Bitcoin Daily

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Big Red, a pioneering force in the cryptocurrency space, is proud to announce a groundbreaking partnership with ESPN, the worldwide leader in sports. This strategic move marks Big Red as the first altcoin on the Avalanche Blockchain to feature advertisements on ESPN, showcasing a 30-second commercial across the network’s extensive platform.

Expanding Reach with ESPN

ESPN’s impressive viewership statistics underline the impact of this partnership. Nearly half of Americans aged 30 to 49 watch ESPN on cable TV, and the network leads in daytime viewership for the 18 to 49-year-old demographic by a significant margin. With ESPN+ boasting 24.9 million subscribers as of Q1 2023, and popular shows like *SportsCenter with Scott Van Pelt* averaging 903,000 viewers, the visibility potential for Big Red is immense.

“Partnering with ESPN is a monumental step for Big Red,” said Naim, CEO of Big Red. “This collaboration not only elevates our brand but also places us in front of a dedicated and expansive sports audience. We’re excited about the opportunities this partnership brings and are committed to leveraging this platform to drive awareness and adoption of Big Red.”

Impact on Big Red’s Brand and Ecosystem

This partnership is a game-changer for Big Red, providing an unparalleled platform to reach mainstream audiences and solidify its position in the crypto space. The deal enhances Big Red’s brand image, highlighting its thriving ecosystem that includes an innovative learning platform and a Fiverr-like marketplace where freelancers can earn cryptocurrency. Additionally, Big Red’s partnership with Cornell University’s Entrepreneurship Program, which certifies the coin, underscores its credibility and commitment to quality.

Frances Regina, Big Red’s Partnership Manager, expressed her enthusiasm: “This deal with ESPN signifies a new era for Big Red. It not only boosts our visibility but also showcases the robustness of our ecosystem, especially our learning platform backed by Cornell University. We’re proud to be the first coin on Avalanche Blockchain to achieve this milestone, and we’re excited about the growth it will spur.”

Bullish Outlook for $TD

The national exposure from ESPN’s ads is expected to drive significant interest and investment in $TD, Big Red’s cryptocurrency ticker. The advertisements, which also feature Trader Joe’s and the Avalanche blockchain, will bring mainstream media attention to Big Red, fostering a broader understanding and adoption of cryptocurrency.

ESPN’s vast audience, including nearly 75% male viewers online and significant engagement from sports enthusiasts, presents an ideal demographic for promoting Big Red. With nearly 22 million viewers for major events like the College Football Playoff semis, the potential reach is staggering.

Long-term Relationship with ESPN

This partnership with ESPN is not just a one-off campaign but the beginning of a long-term relationship. The consistent exposure on a leading sports network will ensure that Big Red remains at the forefront of the altcoin market, continually engaging with a diverse and passionate audience.

“We are thrilled about this long-term collaboration with ESPN,” added Naim. “It’s a strategic alignment that will foster sustained growth and innovation for Big Red.”

For media inquiries or further information, please contact Frances Regina, Head of Growth and Partnerships at Big Red Connect LLC.

Twitter: https://twitter.com/BigRed_TD  

Website: https://www.thebigredcrypto.com  

Contract Address for Big Red $TD: 0x87bbfc9dcb66caa8ce7582a3f17b60a25cd8a248 (AVAX)

Learning Platform: https://learn.thebigredcrypto.com/

Big Red Connect: https://bigredconnect.com/

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