How You Invest $100 in Cryptocurrencies Turning it to 1 Million Dollars | by Tom Handy | The Capital | Feb, 2021

How You Invest $100 in Cryptocurrencies Turning it to 1 Million Dollars | by Tom Handy | The Capital | Feb, 2021

Revealing one in every of my cryptocurrency funding methods Cryptocurrency Photograph by Alesia Kozik from Pexels I at all times wish to gamble a few of my cash and on this case, I invested about $100 and plan to show it into 1 million {dollars}. That could be a dream anybody want to do. A […] Although PayPal believes in the potential of cryptocurrencies, it does not consider converting some of its cash to Bitcoin (BTC). Nigeria’s Securities and Exchange Commission has suspended previously announced plans to regulate cryptocurrencies, until those dealing in them a… A panel of experts at the United Nations says that North Korea has amassed $316 million in cryptocurrencies from various cyberattacks on crypto exchanges and financial institutions. The panel also investigated North Korea’s involvement in the $281 million hack of a crypto exchange.

Tom Handy

I at all times wish to gamble a few of my cash and on this case, I invested about $100 and plan to show it into 1 million {dollars}. That could be a dream anybody want to do. A bit of over a 12 months in the past, I invested some cash on penny cryptos. You possibly can examine this to investing in penny shares. The entire cryptocurrencies had been lower than one penny every.

I figured if one in every of these penny cryptos reached $1, I’d be an on the spot millionaire. Whereas doing this, I wished at the very least a million of the cryptocurrency. After all, I do know taxes will take a few of the earnings.

As a former planner, I search for totally different prospects to make some huge cash. That is a method I’m attempting out.

There may be the case I may lose all of my funding. For this reason I made certain the funding was solely a small sum of money that if I misplaced all of it, then I’d be mad however nice total.

Nearly all of my investments are in Bitcoin and Ethereum however I wished to take a position a few of my cash on a number of wildcard altcoins. Because of the market cap of the cryptocurrency, they won’t go as excessive as Bitcoin. More than likely the value of the cryptocurrency would go increased. I used somewhat little bit of hope and logic from different cryptocurrency traders on YouTube who did the preliminary analysis.

From there, I had to verify I may purchase the cryptocurrencies on my cryptocurrency change. I didn’t wish to open too many exchanges as a result of then I must fear in regards to the varied passwords to the change.

These are the cryptocurrencies that I personal at the very least a million or extra for my funding.

  • Dent (DENT)
  • WIN (WIN)
  • Pundi X (NXPS)
  • ACAT (ACAT)
  • The least quantity I invested on the cryptocurrencies was $85 and probably the most I invested was $817.

    Here’s a snapshot of my present holdings.

    There have been different cryptocurrencies I used to be shopping for however the costs out there began to extend. I used to be primarily buying and selling Ethereum for these altcoins.

    The picture above exhibits every cryptocurrency, the present value, and the present return. Every cryptocurrency has at the very least 1 million cryptocurrencies every.

    I’m up optimistic on all of those investments. I just lately bought 900,000 DENT because it appreciated a lot. As I used to be writing this text, I repurchased DENT and gained an extra 30,000 cryptocurrencies since I purchased them at a less expensive value than once I bought them.

    One rule I’m attempting to inventory with is limiting my tax penalties. I made certain that I held on to DENT for at the very least a 12 months to get the long run tax price reasonably than pay for brief time period taxes. Saving at the very least 5% on taxes is a lot better and that retains extra money in my pocket. Typically it’s important to have a look at the tax guidelines the place you might be to take advantage of your funding.

    For me to promote the opposite cryptocurrencies, the acquire can be so small. If I had been to promote at present, that is my present revenue.

  • WIN-$195.22
  • NXPS-$973.75
  • ACAT-$579.99
  • Over the following few days, I’ll proceed to comply with the progress on these to find out if I plan to promote a few of the cryptocurrencies. If I do promote, I’ll most definitely purchase them again once more at a less expensive value so as to add extra cryptocurrencies.

    After I began investing near 4 years in the past, I primarily purchased to carry (HODL) on to the cryptocurrency. Not like final time, I’ll take income if it is smart. There may be at all times the case that the market may drop and also you lose any income you may have made.

    Typically it’s important to assume somewhat extra to attain your aims. Sooner or later, I’ll preserve you up to date on my progress.

    See these different articles on investing in cryptocurrencies:

    Source: optionscalltoday.com


    PayPal CFO Reveals That The Company Is Not Considering To Buy Cryptocurrencies • Coinexc

    PayPal CFO Reveals That The Company Is Not Considering To Buy Cryptocurrencies • Coinexc

    Although PayPal believes in the potential of cryptocurrencies, it does not consider converting some of its cash to Bitcoin (BTC).

    PayPal will probably not buy Bitcoins. Despite the interest in cryptocurrencies by institutions, the payment giant will not buy crypto money, according to the chief financial officer (CFO).

    Although the value of cryptocurrencies and digital wallets will see the company, PayPal will not invest some of its cash in cryptocurrencies. According to a new report, Paypal CFO John Rainey said the company will not buy any cryptocurrencies. On the contrary, he said the company preferred to improve its payment network.

    The company recognized the importance of cryptocurrencies and is aware that there is no return. In December, PayPal CEO Dan Schuman pointed out that digital wallets are complementary to cryptocurrencies, and the company has 360 million digital wallets.

    “We will not invest in cryptocurrencies with the cash that the company has. But we want to take advantage of the growth opportunities ahead. “

    Rainey said they will invest in platforms that complement their statements. Also, the company will provide cryptocurrency transactions in the UK.

    “The services we provide now are what we want to invest in and as a result we want to achieve growth in the ecosystem.”

    PayPal was not added to the Bitcoin and cryptocurrency buying list of institutional investors such as Tesla and MicroStrategy. But the firm trusts cryptocurrencies.

    According to the CryptoPotato news, the company experienced an increase in users in the 4th quarter of 2020 thanks to crypto money transactions. After his conditional leave from the New York Financial Services Department, Venmo has enabled cryptocurrency transactions.

    The payment services company strengthened its scale with high payment volume and newly opened accounts in its strongest financial year. Also, the number of active users reached 16 million in the fourth quarter of 2020.

    To be exact, in 2020, the company reached 72.7 million new users and 377 million active accounts.

    The anonymous cryptocurrency analyst and strategist, who has a large following on Twitter, expressed that …

    Source: coinexc.com

    Author: imsicoinexc


    Nigeria Delays Plans to Regulate Cryptocurrencies and Dealers

    Nigeria Delays Plans to Regulate Cryptocurrencies and Dealers

    Nigeria’s Securities and Exchange Commission has suspended previously announced plans to regulate cryptocurrencies, until those dealing in them are able to open bank accounts in the country.

    Last week, the Central Bank of Nigeria ordered financial institutions to close accounts dealing in cryptocurrencies, saying the transactions posed risks to the economy, but those measures are now on hold.

    “For the purpose of admittance into the SEC regulatory incubation framework, the assessment of all persons and products affected by the CBN circular of Feb. 5, 2021 is hereby put on hold until such persons are able to operate bank accounts within the Nigerian banking system,” the Abuja-based SEC said in an emailed statement.

    The agency said in September it viewed cryptocurrencies as exchangeable securities and would regulate them to provide protection for investors and to ensure the transactions are transparent.

    Source: Bloomberg

    Source: www.africanbusinesscentral.com


    UN Report: North Korea Stockpiles $316 Million in Cryptocurrencies From Cyberattacks – Bitcoin News

    UN Report: North Korea Stockpiles $316 Million in Cryptocurrencies From Cyberattacks – Bitcoin News

    UN Report: North Korea Stockpiles $316 Million in Cryptocurrencies From Cyberattacks

    A panel of experts at the United Nations says that North Korea has amassed $316 million in cryptocurrencies from various cyberattacks on crypto exchanges and financial institutions. The panel also investigated North Korea’s involvement in the $281 million hack of a crypto exchange.

    A United Nations panel of experts has submitted a draft report reviewing the measures on North Korea to the Security Council’s North Korea Sanctions Committee. Nikkei says it has obtained a copy of the document, noting that it will be made public after discussion and revisions by the council’s board member nations.

    The report highlights that North Korea’s “total theft of virtual assets from 2019 to November 2020 is valued at approximately $316.4 million,” citing one unidentified country. North Korea allegedly uses cyberattacks against financial institutions and crypto exchanges to generate money to support its weapons of mass destruction and ballistic missile programs, according to the report.

    Moreover, the panel revealed that it investigated malicious activities by North Korea’s primary intelligence agency called the Reconnaissance General Bureau, an entity on the U.N. sanctions blacklist. Its activities include “the targeting of virtual assets and virtual asset service providers, and attacks on defense companies.”

    “Preliminary analysis, based on the attack vectors and subsequent efforts to launder the illicit proceeds strongly suggests links to the DPRK [Democratic People’s Republic of Korea],” the U.N. experts said.

    In addition, the panel said it is investigating a September 2020 hack against a cryptocurrency exchange during which approximately $281 million worth of cryptocurrencies were stolen. Blockchain data analysis indicates that this hack is related to a second hack in October 2020 where $23 million were stolen. The $281 million hack is believed to be that of cryptocurrency exchange Kucoin.

    The report further outlines how North Korea continues to launder stolen cryptocurrencies by exchanging them for fiat currencies, like the U.S. dollar, via over-the-counter (OTC) brokers in China.

    In its previous report, the U.N. panel found that North Korea amassed $571 million from hacking crypto exchanges and companies between January 2017 and October 2018.

    What do you think about the findings by the U.N. expert panel about North Korea and cryptocurrencies? Let us know in the comments section below.

    Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

    Source: news.bitcoin.com

    Author: Security

    by
    Kevin Helms


    How You Invest $100 in Cryptocurrencies Turning it to 1 Million Dollars | by Tom Handy | The Capital | Feb, 2021

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