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2019: Reviewing the year so far, what you may have missed!

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Bitcoin crypto Updates 2019

We will be introducing Week in Review starting this week. Before we get to that, we wanted to give you the scoop of important updates that took place in Blockchain and Crypto space so far this year.  If we missed any, do let us know.

This could be considered Part 2 of our original Bull Stampede ahead but with a focus on what happened in 2019.
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Of course, the biggest news for 2019 so far is Bitcoin remained the highest performing asset of any asset class. That is quite a feat especially emerging out of a bear market.

There are some constants in the space:  Bitfinex-Tether conundrum, Warren Buffet’s anti-BTC sentiments, Craig Wright’s claim to be Satoshi, and Christopher Giancarlo is still a hero for crypto lovers.

And, there are some indicative trends that are emerging:  failing fiat economies are embracing bitcoin as hedge against market and political pressures.

Let’s look at the news that has some relevance for bitcoin and blockchain space, not just glitter.

Binance hack: KYC data of its users exposed

One of the most popular and quick to fame Binance Crypto exchange has been hacked and the KYC documents of its users has been compromised.  The hackers are now blackmailing Binance for a ransom.


Coinbase Ventures is Empowering the Open Financial System

coinbaseCoinbase is working on the long term vision of blockchain and crypto by investing in the companies that are working to make financial system more inclusive.  The company’s website lists the companies in which Coinbase has already made an investment. 

South Korea’s partial ‘Regulation-Free’ zones open doors to Crypto

While the politicians in the US are busy making uninformed statements about Bitcoin and comparing it with USD and nefarious activities, South Korea is creating spaces to nurture blockchain technology.  Busan has been declared as the ‘regulation-free’ zone for Crypto operators to set their businesses.

Walmart applies for Digital Currency patent

WalmartThe quality of this application leaves us asking for more, nevertheless, Walmart has joined the race of digital currency using blockchain.  Walmart is the largest retail store in America and if it introduces Walmart coin with a boat load of discounts for using it – the adoption could be much easier and faster than Facebook’s Libra.  This space is getting hotter by the minute.

IRS issued letters to Crypto taxpayers

irs cryptocurrenciesInternal Revenue Service has issued notice letters (Format 6173, 6174, 6174-A) to close to 10,000 taxpayers who had cryptocurrency transactions. We will be providing more guidance on these letters and what to do if you received one yourself. Stay tuned.


New York establishes Research and Innovation Division to license Crypto businesses

“It will house the Department’s division responsible for licensing and supervising virtual currencies, and it will assess new efforts to use technology to address financial exclusion; identify and protect consumer data rights; and encourage innovations in the financial services marketplace to preserve New York’s competitiveness as a financial innovation hub,” read the Press Release.

TD Ameritrade launches Bitcoin futures trading

AmeritradeWith 1.2 Trillion dollars in assets under its management, TD Ameritrade’s launch of Bitcoin futures marks yet another milestone in the journey of Bitcoin mass adoption.  At this time, the futures are available for professional clients with a minimum of $25,000 in the account.


Treasury Secretary Steven Mnuchin calls Bitcoin a “National threat”

Steven MnuchinBitcoin is a “National threat” opined the Treasury Secretary, Steven Mnuchin, while holding a briefing on regulating cryptocurrency.  We do not expect Politicians to know a lot about bitcoin, however, being a Treasury Secretary – Steven Mnuchin was expected to be more ‘balanced’ in his approach, however, that was not the case.

Canada’s City of Richmond Hill accepts bitcoin for tax payments

City of Richmond Hill in Canada has approved a proposal to accept bitcoin to settle tax payments. “We believe that the demand for a digital currency payment option is only going to grow in the coming years, especially amongst millennials”, said Richmond Hill Deputy Mayor Joe Di Paola who moved the motion.

IRS’s leaked Cyber Crimes training deck sends ripples in the Crypto community

irs cryptocurrenciesBlanket Subpoenas against Apple, Google and Microsoft to backtrack the crypto activities was among the suggestions proposed in an IRS Cyber Crimes training deck that was leaked on the internet.  IRS is building capabilities to use Chainalysis to track the wallets back to the owners.

 

The Miami Dolphins have an official Cryptocurrency: Litecoin

Miami DolphinsWhat better way to get the word out than sports?  Litecoin managed to become the official cryptocurrency of The Miami Dolphins team giving them access to the NFL hardcore fan base.  Moves like these are paving the way for Cryptocurrency to the mainstream.

 

SEC is seeking blockchain data provider to help its efforts to monitor

sec commisionSecurities Exchange Commission of the United States intends to “procure Commercially Available Off-the-Shelf (COTS) enterprise-wide data subscription for blockchain ledger data to support its efforts to monitor risk, improve compliance, and inform Commission policy with respect to digital assets” according to its solicitation.  

Prime Factor Capital receives authorization as Alternative Investment Fund Manager

Prime Factor CapitalFinancial Conduct Authority (FCA) has authorized Prime Factor Capital to act as Alternative Investment Fund Manager.  Nic Niedermowwe, CEO of Prime Factor Capital, comments: “This is a significant milestone not just for Prime Factor, but for the industry as a whole. Being FCA-regulated brings us under the purview of one of the most recognised financial markets regulators globally. This is particularly relevant in the cryptocurrency space, which has repeatedly captured headlines for poor operating standards and even fraudulent activity. Investors need to be able to trust their managers not only to generate returns, but also to act responsibly and in their best interest.” 

Facebook is asked to halt its cryptocurrency, Libra, project

facebook libraThere is a new villain in the Cryptosphere and everyone is glad that it is ‘Facebook’. U.S. House of Representatives asked Facebook to appear in front of Congress to discuss its Libra project.  Governments have realized just how detrimental Facebook’s Libra could be to the Fiat’s existence and they are using all the excuses in the book to undermine it.

ErisX gets approval for physically settled Digital Asset Futures Contracts from CFTC

ERISXCommodity Futures Trading Commission (CFTC) has granted Derivatives Clearing Organization (DCO) license.  “As a registered DCO, the ErisX clearinghouse will offer the clearing of digital asset futures contracts traded on ErisX’s regulated derivatives market, which will launch later this year” read their official Medium post.

Coming soon: Ethereum on Amazon 

Ethereum-AmazonThanks to two startups, Clic Technology and Opporty, we could soon be able to use Ethereum to make purchases on Amazon.  These two startups are launching a browser extension that could bring the modern day token economy one step closer to reality.

Google integrates Chainlink 

Google-Chainlink“Possible applications are innumerable, but we’ve focused this post on a few that we think are of high and immediate utility: prediction marketplaces, futures contracts, and transaction privacy” read the announcement from Google which is integrating Chainlink into its initiative.

Rumors about Crypto ban in India intensify

Indian GovernmentFirst it was South Korea, then China, and now India. Rumors about the ban on cryptocurrency have intensified in India.  A draft bill made rounds on the internet that proposes severe punitive measures against people dealing in cryptos.

 

Apple unveils CryptoKit

Framework around Cryptographic Developer tools that enable Cryptographic operations has been unveiled by Apple under the name CryptoKit.

Microsoft adds BTC symbol to Excel 

Excel Btc logoNerds and crypto enthusiasts welcomed the addition of BTC sign to Microsoft’s Excel tool.  This gesture comes after Google and Apple both beat MS to the punch in adding the BTC sign.  Better late than remaining MS.

Financial Action Task Force (FATF) tightens the grip on Crypto exchange firms

FATF

FATF is closing in on ‘liberal’ crypto exchanges who have ignored the KYC and AML requirements.  Lot of the banking rules (like reporting the sender/receiver details under the ‘travel rules’ issued by FinCEN) could be applied to Crypto exchanges.  The direction of FATF was met with resistance from the crypto communities who argue that these rules are being designed to ‘stifle’ the blockchain and crypto revolution.

Montana catches up with times; exempts utility tokens from Securities Laws

Catching up with the times is not confined to Silicon Valley or NYC and Montana proved this by introducing House Bill 0584  which exempts utility tokens from Securities Laws as long there is a ‘utility’ for the token as defined in the bill.

Twitter and Square to make Bitcoin adoption INEVITABLE

Twitter SquareJack Dorsey, CEO of Twitter, is a known advocate of Bitcoin.  He is showing his love for Bitcoin into business by making bitcoin and crypto payments available on Square.  Square is a 30 Billion dollar company and bringing crypto payments to the platform can make adoption of Bitcoin and Crypto payments inevitable. 

Blockchains LLC buys Nevada based Kirkwood Bank

Kirkwood Bank of Nevada blockchainIn an effort to bring Crypto mainstream, Jeffrey Berns, CEO of Blockchains LLC, has acquired Nevada based Kirkwood Bank.  These dents into the mainstream financial service industry is what is needed to onboard blockchain businesses into our daily lives.

 

China includes Blockchain as one of their top strategic priorities

Deloitte’s 2019 Global Blockchain Survey included Blockchain regional analysis in which they shine light on China’s “real economy” initiative in which blockchain was included as the top strategic priority.

Euro 6.5 Million Real Estate deal conducted on Blockchain in Paris

A real estate deal worth Euro 6.5 Million was closed in Paris using Blockchain.  This transaction further cemented the utility of Blockchain in the Real Estate space.

MIT says it developed a cryptocurrency that reduces the bandwidth by 99%

MITIn a Press Release, MIT announced that it has developed a cryptocurrency that reduces data users to join the network and verify the transactions by 99%.  They have named this cryptocurrency as “Vault”.

 

LedgerX, a New York based clearing house, gets approval to physically settle bitcoin futures contracts

Ledger XThe first federally regulated exchange and clearing house to list and clear fully-collateralized, physically-settled bitcoin swaps and options for the institutional market, LedgerX LLC, is the first entity to get CFTC approval to physically settle the bitcoin futures contracts.

 

Congressman joins the blockchain race

Gary Cohn

Former chief economic adviser to President of the United States, Gary Cohn, joins Spring Labs, who also held Chief Operating Officer post at Goldman Sachs. Talk about acceptance of the mainstream business of blockchain.

Prominent crypto news site dies and resurrects from the dead in less than 3 days

CCN Site CRASHCCN.com (formerly CryptoCoinsNews.com) announced that they were going to shutdown following Google algorithm updates that slashed the mobile traffic for the website. However, thanks to the outrage and all the searches flooding their way – they announced that they were back from the dead.

Visa’s move may be RIP for Ripple

ripple updatesOur readers know that we are not big fans of Ripple, even to the peril of being on the wrong end of an otherwise lucrative investment.  We are willing to live with that chance. Swift, then Stellar, then IBM, all ventured into what Ripple was hoping to, however, the latest to enter this space is Visa. With its massive network and infrastructure, this could be something that can finally sing RIP for Ripple. Of course, we don’t want that to be the case, just to be clear.

Niall Ferguson retracts his comments about Crypto and joins Ampleforth

AmpleforthFirst he openly accepts that he was completely wrong about assuming Crypto being worthless, then, Niall Ferguson joins a crypto startup that wants to develop a stablecoin pegged against goods instead of dollar.

Justin Sun wins lunch bid with Warren Buffet and hopes to turn him into a blockchain believer

Warren Buffet4.6 Million, that’s what costs to sit with Warren Buffet at lunch.  Justin Sun has invited blockchain pundits to join him with Warren Buffet for lunch, and hopes to change his views on bitcoin and blockchain.

 

Facebook introduces its CopyCat coin

facebook libraSocial media giant, Facebook, will announce its own cryptocurrency that will facilitate messenger payments.  The verdict is still out on whether or not this is good for crypto space. You can read our opinion here.

Microsoft releases tool to verify smart contracts

MicrosoftFormal verification of smart contracts developed in solidity programming language is now possible, thanks to Microsoft.  These strides are necessary for building confidence in smart contracts and blockchain platforms.

SEC sues Kik

kikYou cannot raise $100 Million without appropriate meeting the requirements of the SEC. Kik was sued by SEC according to their official press release.


Google and Apple add Bitcoin sign to the keyboard

bitcoin keyboardIt may just be a sign for the ignoramus, but for bitcoiners it is a great sight to see Bitcoin sign on both Google and Apple keyboards.


IRS to issue, finally, guidance on Cryptocurrency taxation

irs cryptocurrenciesCryptocurrency taxation guidance might finally be available this year.  This guidance is expected sometime in June, however, even if we get this before the end of the year – that would be a great stamp of approval for the legitimacy of cryptocurrencies.

State Farm and USAA are working together to test a blockchain solution

Two insurance giants announced a joint subrogation solution to test blockchain technology in speedy processing of auto claims.

Ernst & Young and Deloitte join Ethereum network

EthereumFirst it was EY, and then Deloitte, both accounting behemoths are now on Ethereum network building their own service solutions for the blockchain space with Ethereum as the underlying platform.

 

Samsung Pay to utilize blockchain to onboard its 10 million users

Samsung PayKorea Herald reported that Samsung Pay could include crypto wallet that could give direct access to its 10 million users to the crypto world.

 

Montana exempts utility tokens from securities law

Who would have thought that Montana would lead the way for other states to wake up, but that is just what happened, Montana exempted utility tokens from the purview of securities law.

Robinhood comes to New York

Robinhood Trading platformCommission-free cryptocurrency trading platform enters New York marking a milestone. Robinhood’s entry into global financial hub is a ceremonious moment for the crypto fans.

 

AT&T becomes first mobile carrier to accept bitcoin

AT&TWe are not sure why anyone would exchange their bitcoins for fiat, but if one so chooses, he/she can use bitcoin to pay AT&T bills.

 

Swiss Exchange (SIX) to launch blockchain and stablecoin in 2019

swiss exchange sixStable coin fever is everywhere.  It is more rampant than blockchain itself.  Swiss Exchange is the latest to catch this fever, however, we are glad because it’s the Swiss.

 

CBS’s 60 minutes on bitcoin

60 minutes is probably one of the longest running shows that has not lost its credibility because of tenure. Now Anderson Cooper hosted 60 minutes show on Bitcoin titled “Bitcoin’s wild ride”.  Adoption, here we come in the disguise of sensational titles.

Bitconnect is coming back, but why?

bitconnect coming backAfter the spectacular fall from $435 to under 30 cents in the shortest span of any asset class’s history, Bitconnect site hints its resurrection. Our only question is – WHY?

 

Crypto dominates IMFs survey on preferred payment method

IMF21000 out of 37000 preferred cryptocurrency to other payment methods. Of course, this survey may have been swarmed by crypto evangelists but nevertheless that is quite an overwhelming outcome to IMFs survey

Amazon files patent for Proof of Work

Amazon logoIt may not be long before the USA will mean Unified Shoppers of Amazon.  It just feels like Amazon is in everything. Now Amazon made its omnipresence known with a patent for Proof of Work with US Patent office.

 

FDIC insurance comes to crypto

FDIC InsuranceCrypto is getting more and more legitimate by the day.  The latest in this journey is the FDIC insurance, thanks to SFOX and its partnership with M.Y. Safra Bank.

 

FinCEN issues guidance on virtual currencies

FINCENAddressing many questions from the businesses and individuals in the virtual currency space, FinCEN has issued guidance that many interpret to be restrictive, read it yourself.

Fidelity may offer cryptocurrency trading for pros

FidelityInvestment mammoth, Fidelity, is looking to open its doors for cryptocurrency trading to professionals.

Maryland passes bill to embrace blockchain

States are in a race to put out a ‘blockchain friendly’ face for the techies.  Maryland embraced blockchain by signing Senate Bill 136 that allows companies to record stock ledgers and accompanying information on blockchain.

London Stock Exchange could use blockchain

London-Stock-ExchangeFor a 300 year old financial institution to acknowledge blockchain is a big deal, it’s even sweeter deal when that institution is London Stock Exchange.

Washington gives legal status to blockchain

Records entered on Distributed Ledger Technology, including Blockchain, will now be legally binding in Washington. Bill 5638 is now passed into law.

Amazon Managed Blockchain service opens

Amazon logoA fully managed blockchain service is now available via Amazon Managed Blockchain services.

 

Philip Morris International pivots blockchain use

Philip Morris InternationalThe cigarette giant wants to use public blockchain to track tax stamps on the cigarette boxes to ensure that the taxes are actually paid.

 

Let us know if we have  missed any important updates in the comments.

Thank you for reading the article.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

About the author

RK Reddy holds two Masters degrees, one in Accounting and another in Business Administration with over 15 years of experience in the financial services industry.

Read more about the author here.

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6 Massive Benefits of Cryptocurrency

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Benefits of Cryptocurrency

It is normal to be hesitant about using cryptocurrency as the medium of financial transactions. 

There is a school of thought which believes, it is a domain suitable for criminals, fraudsters, and terrorists. Cryptocurrencies allow them to maintain anonymity for discreet transactions and ransomware scams.

However, the increasing acceptance of Bitcoin as a digital currency has initiated a positive perspective around this mode. It brings a distinct set of pros for the users, making them overlook the risks tag along.

According to the Finder, a post on social media surfaces about Bitcoin every three seconds. If we do the math, it means 1203 posts pop up per hour, making it to 20 posts per minute.

A more general view on the crypto landscape speaks of its overall growth, too. Block Social tells us how cryptocurrency exchanges around the globe have exceeded 300 during 2020.

In fact, the success of crypto shows us the loopholes of the traditional banking system. If you, too, want to leap on this bandwagon and aren’t sure about your next move, this is the right place. Our blog sheds light on the positive aspects of cryptocurrency that make it a more established form of financial trade. 

Healthereum

1. Easy transactions

When dealing with brokers or legal representatives, you have to pay the transaction fee from time to time. This comes along with immense paperwork, commission, brokerage charges, and so much more. Using cryptocurrency eliminates the need for a middle man. The transaction changes into a one-to-one affair taking place on a secure network.

No wonder Forbes stated that adopting blockchain technology can save financial organizations around $12 billion yearly. A deduction of extra charges from third parties and reduced operations cost is saving millions for huge organizations.

Moreover, the transactions are transparent, making it easier for you to establish audit trials. There is no more confusion over who pays whom. All parties involved in the transaction know each other quite well. Accountability on each party grows.

2. Asset transfers

A financial analyst rightfully describes cryptocurrency blockchain to be a “large property rights database.” On the one hand, it helps execute and enforce two-party contracts on commodities such as real estate and automobiles. At the same time, it also facilitates special modes of transfer. 

As per Born2Invest, Bitcoin alone is responsible for an average of 350 000 daily transactions on the Blockchain. Meanwhile, Coinbase has 30 million cryptocurrency users (Block Social). The increasing figures of each crypto speak of its acceptance worldwide.

The parties involved in asset transfer can design contracts and add third-party approvals at a later date. It also helps to reference the external facts and gives the parties exclusive governance of their account. It reduces the time and money involved in asset transfers. Perhaps this is why US federal government spending on Blockchain shall reach $123.5 million by 2022.

3. Confidential transactions

Cryptocurrency purchases remain discreet. Unless a user voluntarily publishes his transactions, the purchase is never associated with their identity. In official scenarios, such as when you put your cars for sale, the parties must reveal an association with their cryptocurrencies. It helps to establish trust and relevance.

Within the cash/credit system, your entire transaction history turns into a reference document for the banks/credit agencies involved. On the contrary, cryptocurrency is a transaction that is a unique exchange between two parties. They can negotiate and agree on preferable terms. The information exchange takes place on the “push” basis. This means you transmit only that which you wish to send to the recipient and nothing else.

It keeps your financial history secure and guards you against identity theft. Chances of which are quite high under the traditional transaction system. 

On top of this, the combination of Blockchain with IoT is considered revolutionary by the experts. This has accelerated data exchange, lowering the operation costs, and improved the security of files. Your Tech Diet predicted that 75% of the IoT industry would adopt Blockchain technology by the end of 2020. Lack of exposure is, thus, something the entire industry is looking for.

4. Transaction Fee

You have probably faced hefty monthly account statements from your bank/credit companies. The transaction fee charged at every transaction you have made might leave you shocked. The whopping fee of multiple transactions can take you by surprise at the end of each month.

In the case of cryptocurrency exchange, the data miners receive their share from the cryptocurrency network involved. Transaction fee does not apply as the remote and separate computer systems that do the number-crunching get a pretty fair share. 

According to Investopedia, the Bitcoin reward for miners halves for every 210 000 blocks added to the chain. Nonetheless, this system has freed the transaction parties to pay the fee, making it the most feasible. 

However, there might be some external fee involved if you engage a third-party management service to maintain the crypto wallet. These charges are likely to be quite less than the transaction charges levied by the traditional banking system. 

5. Hold Ownership

The traditional banking system works in a manner where the amount goes to the nominee if a person passes away. The chances of the account closing are quite high when you infringe the terms of their services. Unlike this framework, digital currencies give you the sole ownership of private and public encryption keys. This makes it easier for you to identify the encryption network.

6. High security

Once a party authorizes the cryptocurrency transfer, they cannot reverse it. This is not the case in “charge-back” transactions allowed by the credit companies. Cryptocurrency gives you reliable encryption throughout the transaction process to keep it protected from bugs and malicious entities.

Systems like Binance Smart Chain are enabling people to do more with BTC.

Final Thoughts 

Cryptocurrency is taking the financial world by storm, and we know the reasons why. It is about time you kickstart your digital finances journey and make the most out of it. Who knows what surprises are about to come later in this landscape!

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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Cardano or PolkaDot? Which One to Invest In?

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Cardano vs Polkadot

There is a new battle in the crypto space.  Cardano (ADA) and PolkaDot (DOT) maximalists are headbutting as to which project is better and why.

The conversations are intense to say the least and we will try to provide our view on which one we are leaning toward and the reasons why, in this rather short article.

Just to be clear, we are invested in both ADA and DOT so we have a vested interest in both projects, however, we are now asked to pick one over the other and that brings us to this article.

Decentralization

The whole spirit of cryptocurrencies is the concept of decentralization, however, some of the more popular projects don’t seem to have a grasp of what that means.

Diem (previously Libra) or XRP etc., are controlled by a group for validators who could, in theory, easily collude, in our view.

With DOT, things are not as centralized as some other projects with about 1000 validators securing the platform.

However, ADA has the most number of nodes and has most of its circulating supply staked on its wallet. The community behind ADA has biggest proponents of decentralized frameworks.

ADA: 8 (top 10 is reserved for BTC)

DOT: 6

Team

Cardano boasts the maximum number of Ph.Ds on its team and has a more decentralized team structure.  You have teams that are working exclusively on wallet and staking while you have other teams focusing on interoperability. Yet, another team is focused on bridging projects from Ethereum to Cardano.

DOT has the ammunition of Gavin behind it. He is undoubtedly one of the brilliant minds in the space. 

However, as we learned in basic math, sum total is always greater than an individual unit.  This applies more aptly with these projects. In our opinion, Cardano has a greater edge when it comes to collective human capital.

Having Charles Hoskinson helps ADAs impression.

ADA: 8

DOT: 6

Social presence

There is no competition when it comes to social presence and engaging the community when it comes to the leaders of these two projects.

While DOT’s founder Gavin might come out as eccentric and polished in the social media, Charles takes the cake in engaging with his audience and making things sensible for the community.

ADA: 9 

DOT: 7

On a mission

Whenever you hear Charles speak about ADA you will immediately understand that he is on a mission to bring the marvels of blockchain enabled financial services to all corners of the world.

Cardano’s team is now focused on the South Africa continent to bring the under-previleged onto the world commerce through their platform. They are even close to signing a contract with Ethiopia government in 2021.

While DOT is catapulting the entire space forward it just lacks the same charm that comes with a project on a grandiose mission.

ADA: 8

DOT: 6 

Miscellaneous considerations 

Market cap: ADA has $20 Billion market cap while DOT has $19 Billion, as such they are on par with each other when it comes to valuation. The large cap is a stamp of approval from the crypto community.

Price: ADA is at around 60 cents while DOT has been stabilising at $20 at the time of this writing. When the newbies come to the market and they see they cannot afford Bitcoin or Ethereum, they will most likely go after the projects that are under $1. This does not mean DOT is inferior, it is just an edge that low priced tokens have over higher priced projects. It’s just a newbie mindset that drives higher demand during bull runs to lower priced projects.

Inflationary supply

DOT has an inflationary supply model while ADAs supply is capped.

Yes, DOTs supply is far larger than DOT, however, there is no new minting on ADA when compared to DOT.

Mainnet

DOTs technology is operational and is onboarding projects already.  ADA is scheduled to launch its mainnet this month (Feb 2021). ADA has been in works for many years now and if their product matches the hype and the wait – then it may not matter as much that they are late to the party. However, if there are issues with their mainnet – it may not bode well for ADA.

Conclusion: Total score

ADA: 33

DOT: 25

If you are a DOT fan you might think this score is skewed.   If you are an ADA fan you might think it should score perfect points in all fronts.

In fact, there are some areas where DOT is a clear winner like having a functioning platform. ADA, in our opinion, takes the prize with clear fandom, gigantic mission and a total brainiac project. 

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

Continue Reading

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Best of the Best YouTube Channels to Follow for your Crypto Fix

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Best Crypto Youtubers

There are literally 100s of crypto-experts on YouTube who claim to have cracked the secret code that can make you millions in crypto riches. 

Who should you follow?  

We have followed many YouTubers, subscribing and unsubscribing to avoid the noise and after having been in this space for over 4 years, we have narrowed our favorite crypto YouTube channels to just a few.

In this article, we will show you our favorite YouTubers and what we like about each one of them. 

Overall number 1: Coin Bureau

coin bureau When it comes to deep analysis, composed demeanor and outright professional crypto channel in the entire space, we have not come across anyone better than Guy.  

Not only is he great at the reviews and in depth analysis, if you have followed the channel long enough you will realize that he reviews the gems long before others pick on the momentum.  

He picks solid projects, never shills a shitty project to his followers and is upfront about his views which he backs up with solid research.

This is the best no-shill and no bull crypto channel on YouTube in our view.

Best original content: Chico Crypto

chico crypto review

If you love a bit of quirky, goofy and somewhat out there viewpoints on the crypto space then there is no one better than Tyler at Chico Crypto. 

His investigation stretches the boundaries of research (and sometimes common sense) but he does do a bang up job on every video.  

I am yet to come across a boring video on this channel.  I will admit that his live streams can be a drag sometimes but his followers seem to relish his presence.

You may not like or agree with what Tyler presents on this channel but you will absolutely be floored by the originality.   

Best TA: TIED: Crypto Capital Venture & Tyler S

                         Crypto Capital Venture Tyler S crypto

With under 90K subscribers at the time of this writing, Dan may not be the most popular of the Crypto channels [yet] but his TA analysis is just so easy to follow.

Dan makes it easy for non-technical folks to understand what’s going on in the market in the language of TA.

There are other folks on YouTube who are good at TA but their videos are so obnoxious that they leave you with a massive headache.  

Not Dan’s Crypto Capital Venture channel.   Dan walks you through the markets in such a calm, composed and professional manner that you might start caring about those candles.

We are forced to share the Best Title for crypto TA on YouTube with Tyler S. 

Tyler’s expertise on TAs is quite awesome and he has a funny way of delivering it too.  

Best expertise on the markets: Alessio Rastani

Allesio RastaniIt doesn’t matter if you are just lurking around the crypto markets or if you trade in the traditional markets…Alessio is one of the best guys on YouTube for great insights into the broad market and its impact on Crypto.

While everyone on YouTube (not the people on this list, of course) is either quick to FOMO or FUD, Alessio is just grounded in fundamentals and technicals.

When you are high on FOMO, he can bring you to the ground.

When you are getting buried in FUD, he can lift you up with facts, not false hopium.

Alessio is personable, professional and an honest guy to follow to understand the markets ahead of others.

Best round up of the market: AltCoin Daily

Altcoin DailyWant to stay up-to-date on what’s happening in the crypto space but don’t have time to keep up?  

Fear not. AltCoin Daily got you covered.

This channel is just a gem among the channels that bring crypto market updates in a concise and palatable format.

You can sense the dedication in the way Austin brings the updates and his opinions in front of his audience. No wonder the channel has recently hit over 420K subscribers.

Best humble and honest take: Crazy 4 Cryptos

Crazy 4 crypto

What does Crypto mean to you?

Most people will say ‘Freedom’, yet, most of the YouTubers we see on the Tube will be broadcasting from their bedrooms or backyards (nothing wrong with that) but not Dave.

He has been in Thailand and streams his videos directly from the beach.

You will immediately connect with his simpleton style and honest reviews.  

He has been touting about Theta when it was trading in cents and now those who followed him are very happy.

Besides Theta, Dave talks about a lot of topics in terms of storing your coins, being careful with people and how to have a long-term plan in space.

Honorable mentions

Team Underground (TA)

We had too many channels to weed out for the TA category and that is why we had to pick two winners, however, Team Underground is a channel we cannot skip.

This underdog channel has been more right about the calls than any other mainstream channel. If you like your TAs and technical side of crypto – be sure to check this channel out.

BitBoy

People either love him or hate him.  There is no middle ground when it comes to BitBoy.  

Personally, we have to weed out a lot of noise while browsing through his channel since he picks a new project every few days (or weeks) and can become overwhelming. 

However, the fresh content is worth the watch.

EllioTraders

The guy behind this channel is truly vested in the space. So much so that he recently launched his own crypto project.

It’s definitely refreshing to see the YouTuber taking his expertise into a live project.  

The reason we did not list this channel on the BEST list is because of the constant feed of projects he pitches that is a bit overbearing for our taste.  

Nevertheless, a great channel and great recommendations.

Conclusion

There are 100s of YouTube channels out there but not everyone is worth your attention. We hope you found some channels of interest through this article.

Note: if we missed any gem of a channel, please let us know and we will be more than happy to add it after review.

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

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