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Us States Issue Warnings Over Cryptocurrency Investments

Us States Issue Warnings Over Cryptocurrency Investments

US States Issue Warnings Over Cryptocurrency Investments Jan 5, 2018 at 12:00 UTC|UpdatedJan 5, 2018 at 13:03 UTC The American states ofIdaho and Alaska have both issued warnings over investments involving cryptocurrencies. Idaho'sDepartment of Finance warned its people on Thursday to deal cryptocurrency investments with caution. It said that a surveyby the North American Securities Administrators Association (NASAA) has reported that 94 percent of state and provincial securities regulators believe that bitcoin and other digital currencies involve "high risk of fraud." Gavin Gee, director of the Idaho Department of Finance, said that unsuspecting investors get tempted by therecent wild price fluctuations andspeculation surrounding cryptocurrencies and rush into investments that they don't understand fully. "Cryptocurrencies and investments tied to them are high-risk products with an unproven track record and high price volatility. Combined with a high risk of fraud, investing in cryptocurrencies is not for the faint of heart." Cryptocurrencies are susceptible to cybersecurity breaches or hacks and the high volatility of such investments makes them unsuitable in sizable amounts for many investors, the note stated. The Department of Finance also reminded investors to keep an eye out for common red flags of investment fraud, including unsolicited offers, unlicensed sellers and guarantees of high returns. The state of Alaska has also released a statement urging the public to view cryptocurrency investments with caution. Kevin Anselm, director of the state's Division of Banking and Securities, said thatcryptocurrencies "aren't a typical investment." She emphasized that people have to understand the risks of investments, such as hacks or fraud, and what the offerer is giving Continue reading >>

7 Cryptocurrency Investors You Need To Follow | Inc.com

7 Cryptocurrency Investors You Need To Follow | Inc.com

Marc van der Chijs knows an emerging opportunity when he sees one. He used to be based in China where his investments included tudou.com , a Chinese YouTube. Since moving to Canada, he's gone big into cryptocurrency. He's now a director of FirstCoin.com , an investment bank for token and coin offerings. Follow his tweets for an optimistic but pragmatic view of cryptocurrency. Ari Paul is the CIO and co-founder of BlockTower Capital , a specialized cryptocurrency investment company. His background is in investment management, and he also blogs about crypto investing at the TheCryptocurrencyInvestor.com . It's a site that should be on every cryptocurrency holder's reading list. Michael Novogratz has certainly put his money where his mouth is. In December 2017, as the dollar price of bitcoin was dropping significantly, he tweeted that 30 percent of his net worth was in crypto assets . However, he also noted that his cryptocurrency investment firm Galaxy Digital had put a crypto hedge fund on hold. He remains bullish on cryptocurrencies but watch his actions to track short-term movements. Tyler and Cameron Winklevoss might be best known for accusing Mark Zuckerberg of stealing their idea for a social network, but they now run Gemini , a cryptocurrency trading platform. In April 2013, when bitcoin was worth $120, they bought $11 million worth of coins, about 1 percent of all the coins in circulation at the time. That purchase has since made them among the first bitcoin billionaires. In December 2014, the US Marshall's office sold off 50,000 bitcoins that it had seized from Silk Road, an online marketplace mostly used for selling illicit goods. All but 2,000 of those bitcoins were bought by Barry Silbert, the founder and CEO of Digital Currency Group , a cryptocurrency inves Continue reading >>

30% Of Millennials Would Rather Invest In Cryptocurrency: Here Are 3 Tips To Help You Do It Smarter

30% Of Millennials Would Rather Invest In Cryptocurrency: Here Are 3 Tips To Help You Do It Smarter

30% Of Millennials Would Rather Invest In Cryptocurrency: Here Are 3 Tips To Help You Do It Smarter Opinions expressed by Forbes Contributors are their own. 2017 saw a rush of capital into the cryptocurrency markets, and theres no sign 2018 will be any different. And millennials are keeping the frenzy booming. According to a recent survey conducted by Blockchain Capital , 30% of those in the 18-to-34-age range would rather invest $1,000 in Bitcoin than $1,000 in government bonds or stocks. The same study also indicates that 42% of millennials have heard about Bitcoin, compared with 15% awareness among those aged 65 and up. The millennial interest in trading cryptocurrencies is hard to ignore, yet they are not the only ones interested in this market. The competition for the coin is expected to become tougher in 2018 as new players enter the domain. Its safe to say that this year, more institutional investors will start trading cryptocurrencies, especially Bitcoin. Yet, at the moment the bitcoin market already faces a significant supply and demand imbalance despite the high price. According to Timothy Tam, an ex-hedge fund trader and co-founder of CoinFi , an advanced market intelligence platform for cryptocurrency traders, it looks like the existing equation might force prices even higher. Theres limited supply because, aside the fact that there will only ever be 21 million Bitcoins in circulation, most of the holders of Bitcoin are long terms holders. The demand on the other hand keeps soaring, he explained. Yet, Bitcoin isnt the only investment-worthy coin on the market. Ethereum, Ripple and Litecoin prices keep climbing up as well. If you want to invest in cryptocurrencies, here are the essential tips to do it the right way. Financial markets are prone to speculation Continue reading >>

How To Invest In Cryptocurrencies: The Ultimate Beginners Guide

How To Invest In Cryptocurrencies: The Ultimate Beginners Guide

How To Invest in Cryptocurrencies: The Ultimate Beginners Guide Angel Investors, Startups & Blockchain developers... This guide explains how you invest in cryptocurrencies. Why should you invest in them? Which cryptocurrencies should you put in your portfolio? Where can you buy them, how can you store them, and how do you need to tax them? We try to give answers to the most urgent questions about investing in cryptocurrencies. Disclaimer before continuing: We are not a financial institution: All we are proving is educational material: Do not take this information as professional investment advice. Introduction: To Invest in Cryptocurrencies: The Ultimate Beginners Guide If you landed on this text, you might be already interested in investing in cryptocurrencies. Virtual or crypto currencies like Bitcoin and Ethereum are definitely by far the hottest investment product currently available. These immutable and exchangeable cryptographic token promise to become a hard and non-manipulatable money for the whole world. Their advocates see a future in which Bitcoin or other cryptocurrencies will substitute Euro, Dollar and so on and create the first free and hard world currency. Holding Bitcoin means to have a share in this venture. If Bitcoin ever replaces monetary reserves of central banks or becomes the dominant currency for international trades just to name two examples the value of one Bitcoin will be far beyond 10,000 Dollar. Buying and keeping cryptocurrencies is a bet on the success of this silent revolution of money. Its like a security of a large ecosystem. In the past, investors in cryptocurrencies have been ridiculously successful. Lets have a look at three charts, which show the price of Bitcoin, Ethereum and all cryptocurrencies combined. Since 2011, Bitcoin gen Continue reading >>

A Third Of South Korean Workers Have Invested In Cryptocurrencies Like Bitcoin Quartz

A Third Of South Korean Workers Have Invested In Cryptocurrencies Like Bitcoin Quartz

South Korea is one of the worlds biggest markets for bitcoinso its no wonder that more than three out of 10 salaried workers in the country have invested in cryptocurrencies, according to a recent study (link in Korean) conducted by job portal Saramin. Of those who invested in cryptocurrencies, more than 80% made money from it, and about 20% made an average return of 425% on their investment, according to the survey. The average Korean investor owned some 5.66 million won ($5,260) in virtual currencies. This poll surveyed 941 people via email from Dec. 19 to 20, with about 80% of respondents in their 20s and 30s. South Korea is the worlds third-largest market in bitcoin trading after Japan and the US, with some 2 million digital-currency investors by one estimateequivalent to about one in every 25 citizens. The country is also home to one of the worlds biggest cryptocurrency trading exchanges, Bithumb . In comparison, about 11% of Americans polled by student loan comparison website LendEdu in September said they either currently own or have owned virtual currencies in the past, while 17.2% said they would invest in bitcoin in the future. In Korea, the term bitcoin zombie is used to refer to people who check the cryptocurrencys price around the clock. The countrys prime minister Lee Nak-yeon even expressed concerns over Koreas bitcoin craze, warning that it could result in serious distortion or social pathological phenomena and that it could lead young people into illegal activities like drug dealing. Amid the mounting concerns over cryptocurrencies, South Koreas government proposed new measures earlier this month to curb speculative investments in virtual currencies, such as levying taxes on cryptocurrency transactions and banning underage investors and foreigners from Continue reading >>

Investing In Cryptocurrency: Do Or Dont?

Investing In Cryptocurrency: Do Or Dont?

Investing in Cryptocurrency: Do or Dont? Questroms Mark Williams on why theyre risky Ripple, Ethereum, and Bitcoin are some of the cryptocurrencies topping the charts. Bitcoin, other cyber-currencies soaring in value Fueled by blockchain, technology permitting decentralized, computerized Theyre a risky investment, warns Questrom School of Business expert Why are people mortgaging homes to buy Bitcoin , the digital currency created in 2009 that skeptics regard as just a bunch of ones and zeroes floating around the internet? Because get-rich-quick dreams are endemic. Bitcoin began 2017 worth $1,000 per coin, but closed the year at more than $19,000. Other so-called cryptocurrenciesdigital currency that is sent and received electronicallyare also soaring in value . Entire nations, notably Russia and Venezuela , say theyll issue their own cryptocurrencies. But South Korea is considering banning trading in the currencies completely, fearing citizens will lose their shirts speculating in cyber-money. The perceived value of one cryptocurrency over another is based on the notion that the holder of the digital currency gains exclusive access to a given type of blockchain technology, says Mark Williams (Questrom93), a Questrom School of Business master lecturer in finance and executive-in-residence. Blockchain uses a volunteer computer network, controlled by no one, to record cyber-currency transactions that while public, link to just an electronic address . Enthusiasts foresee blockchain technology being applied to stocks, bonds, contracts, and other assets. Some speculators view this as a lottery ticket, and if the market adopts your blockchain type, the payday will be astronomical, says Williams. But this has also created an extreme asset bubble. Betting on a particular crypt Continue reading >>

Bitcoin Millionaire Says This Is How Much To Invest In Cryptocurrency

Bitcoin Millionaire Says This Is How Much To Invest In Cryptocurrency

About 40 percent of those between 24 and 35 have at least $1,000 in their savings account. That may not sound like that much, but 19-year-old bitcoin millionaire Erik Finman says that's enough to invest in cryptocurrency. The teenager has had some luck with the cryptocurrency growing up: At age 12, Finman used a $1,000 gift from his grandmother to buy his first bitcoin and by 18, he became a millionaire. He currently owns 401 bitcoins, which equals $3.4 million at a rate of $8,512 a coin . In an interview with CNBC Make It , he offers this advice to other young people looking to join the crypto-craze: Invest 10 percent of your income into the top cryptocurrencies, especially bitcoin. "I'd just put it into bitcoin," he says. "I think bitcoin is the safest cryptocurrency right now." However, experts are generally more wary about investing in bitcoin, given its volatility: Although it reached $16,000 just weeks ago , a single coin currently goes for nearly half as much. JPMorgan Chase CEO Jamie Dimon famously dismissed the cryptocurrency as "a fraud." At the Delivering Alpha conference presented by CNBC and Institutional Investor, he added, "It's just not a real thing, eventually it will be closed." CNBC's Jim Cramer agrees. On " Squawk Box ," he likened the cryptocurrency to "monopoly money," adding, "It's just pure gambling at this point. I mean, if you want to gamble, go to Vegas. Vegas is fabulous." Additionally, it's important to note that most personal finance experts suggest you live by the 50-30-20 rule, by which "50 percent of your income goes towards necessities, 30 percent towards discretionary spending and 20 percent towards saving." In that case, you'd consider investing some percentage of that 20 percent you're saving, as opposed to the full 10 percent of yo Continue reading >>

Beginners Guide To Investing In Cryptocurrency

Beginners Guide To Investing In Cryptocurrency

Beginners Guide to Investing in Cryptocurrency Part I What is a Bitcoin, a cryptocurrency and a blockchain? Welcome to the wonderful world of crypto where entry is cheap and the rides are totally confusing. Ever ridden a roller coaster and jumped off the top, onto a different roller coaster that crashed into the floor, leaving you with no lunch? Ever met a costumed character who promised to make you rich, led you to a penthouse suite then took all your money and ran, suddenly re-emerging with double your investment? The money is real, the losses are real, but its not gambling if you do your research. Today Im gonna give you a crash course in what it all means. I call it a crash course because if you dont follow up with further research, you will surely crash, of course. This article is for all of the endearing newbies who would like to join the exciting and confusing world of crypto. An investment in knowledge pays the best interest. You may or may not want to invest seriously, but if you do, I highly recommend that you quickly become obsessed with learning as much as you can. The internet has a wealth of knowledge to offer you. There are thousands of articles, podcasts and videos that will give you all the info you need, and even more of the info you dont. Use your own perspective to make your decisions, dont just listen to that one neighbour you know that thinks he knows everything. There are millions of us out here who think we know everything, you cant listen to all of us! This article is especially for all of you experienced investors who are constantly answering questions about what cryptois, when you really just want to skip to talking about the coolest coins and projects. Let them do their own research, and then you can talk about the more interesting aspects o Continue reading >>

Learn How To Make Smart Cryptocurrency Investments For Just $9 Today

Learn How To Make Smart Cryptocurrency Investments For Just $9 Today

Learn how to make smart cryptocurrency investments for just $9 today Find out how to buy and trade virtual money via 4.5 hours of tutorials. By Stack Commerce posted Feb 2nd, 2018 at 4:30pm Number 1 Cryptocurrency Investment Course If youve heard about cryptocurrencies but have no idea how to invest, this course is the ideal place to start. The videos show you how to exchange your dollars or euros for digital money and spot emerging opportunities. After a year of epic gains, Bitcoin and many other cryptocurrencies are taking a breather right now. But industry experts expect the value of digital money to continue rising for some time to come. The #1 Cryptocurrency Investment Course helps you make a profit from the new technology, with 4.5 hours of hands-on tutorials. You can grab the course now for only $9 via the PopSci Shop. If youve heard about Bitcoin but have no idea how to invest, this course is the ideal place to start. The videos show you how to exchange your dollars or euros for Bitcoin via the popular Coinbase app. You also discover how to keep your coins secure and trade them via two of the biggest platforms: Poloniex and Bittrex. While Bitcoin gets most of the attention, some lesser known altcoins are now seeing over 1000 percent growth over 12 months. In other words, every dollar you invest could turn into $1000 by the end of the year. This course shows you how to identify these trends and use a buying strategy to manage the risk. Worth $195, the price of this course has now dropped to just $9 . Order now to start learning and get lifetime access. Continue reading >>

Heres How Many Of The Worlds Ultrawealthy Are Increasing Their Cryptocurrency Investments

Heres How Many Of The Worlds Ultrawealthy Are Increasing Their Cryptocurrency Investments

Heres how many of the worlds ultrawealthy are increasing their cryptocurrency investments If youre like 21% of the worlds truly rich, youve gotten more into cryptos Want to behave more like the ultrarich? Start investing in cryptos. What are the worlds uber-rich doing when it comes to cryptocurrencies? A growing number of high- net-worth individuals are attracted to them. More than one in five 21% of respondents in an annual survey of wealth advisers and private bankers said clients had increased their investments in cryptocurrencies in 2017, according to Knight Franks 2018 edition of its Wealth Report . The survey is based on responses from more than 500 private bankers and wealth advisers who collectively represent about 50,000 people with a combined wealth of more than $3 trillion. CryptoWatch: Check bitcoin and other cryptocurrency prices, performance and market capitalization all on one dashboard The geographical breakdown shows great variation in very rich peoples approaches to cryptocurrencies. Just 5% more Asias ultrawealthy increased their exposure to cryptocurrencies than those decreasing their exposure. On the other hand, 33% more ultrawealthy individuals in Latin America increased their exposure to cryptos than decreased it. Heres the breakdown of how exposure among ultrahigh-net-worth individuals to cryptos has changed in 2017: % difference between respondents reporting an increase in exposure to cryptocurrencies and those reporting a decrease in 2017 Asian governments have taken the sharpest stands on cryptocurrencies. At the end of 2017, the South Korean government proposed measures including a tax on cryptocurrency trade s. Some reports have suggested that Seoul could ban all cryptocurrency trading . At one point at the end of 2017, South Korea accounte Continue reading >>

How Many People Are Currently Investing In Cryptocurrencies?

How Many People Are Currently Investing In Cryptocurrencies?

How many people are currently investing in cryptocurrencies? Millions of people have invested in cryptocurrencies are more are still joining . Cryptocurrency is the next level of money. The future of money is cryptocurrency. Don't be left out. Join now and learn more on how to own some coins . You will be happy you did. To know more on how many people are investing in these coins go to CryptoCurrency Market Capitalizations and you will see for yourself in terms of volumes and market capitalization. Agree with all the below comments, an accurate answer would be impossible to give but I would say its getting close to the millions at the end of the year. The individuals that earn the most are top VC such as a16z and Social Capital (run by early facebook employee Chamath Palihapitiya). a16z saw how promising Bitcoin and cryptocurrency was way back when everyone thought it was a joke and Chamath followed straight after. He even said that he invests 80% of his wealth into Bitcoin and advises anyone else to do the same ;) Continue reading >>

Survey Says 31% Of South Korean Workers Are Cryptocurrency Investors

Survey Says 31% Of South Korean Workers Are Cryptocurrency Investors

Survey Says 31% of South Korean Workers Are Cryptocurrency Investors Survey data shows that about three out of every 10 South Korean workers have invested in cryptocurrency in some shape or form. Also Read: Former FDIC Chair Sheila Bair on Bitcoin: Value Like Beauty Is in the Eye of Beholder On Wednesday, online job portal Saramin surveyed 941 salaried people in South Korea, and 31.3% of them claimed to have invested in virtual currencies, with an average investment of 5.66 million won ($5,300). Among workers surveyed, 44.1% invested less than one million won, while 18.3% invested between one and two million won. 12.9% said they invested more than 10 million won, 9.8% invested between 2 million and 4 million won, and 7.8% invested between 4 million won and 6 million won. As to the reasons behind their investment in virtual currencies, 54.2% of people believed it was the fastest way of making money, while 47.8% said it was easy to invest a small amount of money in virtual currencies. Just like any other investment, some win, some lose. About 80.3% of workers surveyed said their investments in cryptocurrency were profitable, 6.4% said they lost money, and 13.2% said they broke even. 21.1% of those who earned money made of over 10%, while 19.4% said their returns were more than 100%. South Korea has been particularly active in bitcoin. The country is home to three of the worlds biggest exchanges, accounting for as much as 20% of worldwide bitcoin trades. It is estimated that 2 million people in South Korea possess bitcoin and other digital currencies. The surging bitcoin price has been attracting newcomers, from college students checking prices between classes to grandparents playing the market at home. And they are willing to pay a premium of between 15% and 25% over glo Continue reading >>

Ethereum Will Pass Bitcoin In 2018: My Cryptocurrency Investment Portfolio

Ethereum Will Pass Bitcoin In 2018: My Cryptocurrency Investment Portfolio

product leader, e-commerce expert, writer, blockchain, 95percent.io contributor Ethereum will pass Bitcoin in 2018: my cryptocurrency investment portfolio In the last few days, many have asked about my investment strategy and portfolio mix after writing 95Percent s: Blockchain Technology . After much deliberation, in this post, Ive decided to share my holdings with you. Perhaps more importantly, Ive decided to also share my underlying philosophy. As a reminder, I know nothing. None of this should be construed as investment advice, and you should do your own research before making any investments. I would be financially okay if I lost all of my invested money: you should make sure you could survive a total loss before investing any funds. But enough of that, how should you approach investing in cryptocurrencies? First, I advocate creating your own investment tenets. Tenets are also a crucial aspect of the product management process. I recommend creating tenets before diving into any business, project or problem. Each tenet expresses the conflict arising from two (or more) competing philosophies Each tenet ultimately demonstrates preference for one philosophy over others Most people have their own philosophies and preferences, but they dont write them down. Writing them out is crucial because it crystalizes your thinking. Tenets are helpful when times are good and indispensable when things get tough. You should debate your tenets heavily with family, friends, and yourself. Below I share five of my cryptocurrency investment tenets: Jasons Cryptocurrency Tenets [January 2018] 1) I will prioritize platform investments (think Ethereum) over application investments (think Dash). Strong infrastructure scales and changes the world. Successful applications are hard to predict an Continue reading >>

Crypto Regrets: Your Loss If You Invested At Bitcoin's Peak | Fortune

Crypto Regrets: Your Loss If You Invested At Bitcoin's Peak | Fortune

Things move fast in the world of finance. Two months ago, Bitcoin was red hotto the extent that people were mortgaging their homes to get in on the action. Thats probably not happening much these days, as the plunge in cryptocurrency prices has scared away many casual investors. If you were one of the people who got sucked in by the hype, though, and bought at the peak, deciding what to do has been a wrenching affair. Many people have dumped their holdings. But if you bought Bitcoin, Ethereum, Ripple, or another digital currency at its peak and youre still holding it, youve suffered losses. They may, however, not be as bad as you fear. Heres how much a $1,000 bet on the top cryptocurrencies on Dec. 19, the height of Bitcoin-mania, is worth today. Bitcoin: Bitcoin has taken the most public nosedive of lateand has probably affected the most investors. Since its Dec. 19 peak of $19,140.70, the cryptocurrency has dropped 63% according to CoinMarketCap , so that $1,000 is now worth $370. Ethereum: Of all the top cryptocurrencies, Ethereum has actually held up the best. It continued its surge long after Bitcoin had turned south, peaking on Jan. 14 before gravity finally began to take effect. As a result, its down just 5% since Dec. 19, meaning you would have lost just $50 of that $1,000 investment. If you invested at Ethereums high point on Jan. 14, that $1,000 would be worth just $526 now. Ripple: Like Ethereum, Ripple continued to climb while Bitcoin crashed, peaking on Jan. 4 at $3.37. The fall from grace has been a steep one, though, as the cryptocurrency is well below $1 now. Since Dec. 19, though, its down just 8%meaning youd have $920 remaining from an initial $1,000 investment. (Had you invested the same amount on Jan. 3, itd be worth just $226 now.) Bitcoin Cash: Yo Continue reading >>

2018 Will See Many More Cryptocurrencies Double In Value

2018 Will See Many More Cryptocurrencies Double In Value

2018 Will See Many More Cryptocurrencies Double In Value Opinions expressed by Forbes Contributors are their own. Ripple coin has gone from an obscure cryptocurrency to the second largest by market cap following bitcoin. Investors in these assets predict many cheaper priced coins will double in price this year. (Shutterstock) A week before Christmas, this headline about a random cryptocurrency no one has ever heard of was read more than most best sellers: Asians 'Going Mad' For Ripple Coin. At the time, Ripple (XRP) was worth around a dollar. Today it is worth $2.45. This will be the year that more unknown cryptocurrencies double in value. How many will quadruple in value is anybody's guess. Sure, many of these new coins will disappear from the market. At their heart, the cryptocurrency craze is like the startup craze on steroids. Newly minted companies are going around the venture capital world, issuing their own digital currency, and having almost no problem at all finding willing investors. Got snake oil? No problem! Someone in Asia will take two bottles worth. While setting up an initial coin offering is not cheap and needs upfront angel investing to foot the bill, the ICO market has turned what was once a half dozen cryptocurrencies led by Bitcoin into a $650 billion market overrun by over a thousand cryptocurrencies. These currencies are tied to new, unknown companies selling products and services no one has ever heard of, understands, and may have no real use for. As an investment vehicle, the cryptocoin is the market's version of a poker chip. If you thought junk bond lords in the '80s were nuts... The cryptocurrency bubble, if you will, has thousands of nutty investors laughing all the way to the bank. Literally. If Ripple coin has doubled in value, what are t Continue reading >>

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