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NEVER Forget The Lessons From The Bitconnect & One Coin Scams

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Coin One and Bitconnect Scam

Disclaimer: We are calling Bitconnect and One Coin as scams in this article as a matter of opinion based on how many people lost their life savings.  We are not in a position to determine whether or not these are indeed scams from a legal point of view.

Top 5 Cryptocurrencies 2020

There is a scene in the movie ‘V for Vendetta’ in which V says “Remember, remember, the fifth of November”.  

That whole movie’s premise was that people are generally courageous – they just need a way to remember what they have forgotten or grown numb to.

Crypto space is facing such an apathy and numbness to the scammers and shillers that sprout like the filthy fungi they are, everywhere.  

These filthy shitheads steal the money from hard working folk who come to Crypto as an alternative to the injustices of the mainstream, only to find out that the cure is worse than the disease.

For this very reason, remembering the past scams and how they were carried out will serve as a warning sign for the newbies and a friendly nudge for the crypto veterans.  

When we talk about the scams of scale in the crypto space then nothing really comes close in grandiosity and elaborate schematics than One Coin and Bitconnect.

We should forget the scams of the past but not the lessons they left behind.  In that spirit, this entire post is a recap of the two big scams that crypto verse has seen and the lessons that they left behind.  These lessons, if remembered, will serve everyone well.

Bitconnect scam in brief

Bitconnect Scam

Bitconnect’s lure was that investors could buy Bitconnect Coin (BCC) in exchange for their Bitcoin and other crypto (including USD stablecoins) and lock their BCC with the platform to earn a ridiculous amount of interest.  

For instance, they promised 40% per month interest and .25% daily interest on deposits exceeding $10,000.  

Essentially, investors gave up Bitcoin and real money in exchange for BCC in the hope of earning crazy interest.  One of their promises actually meant turning $1000 into $50 Million dollars within 3 years, if their compound interest model was to be believed.  

Another hallmark of this project was the ‘referral’ system where those who bring new investors will stand to gain a handsome 7% referral fees in addition to earning a cut from those referred by their referrals.  A classic pyramid ponzi.

Even with such ridiculous warnings on the wall, investors were blindsided by the FOMO and YouTube shillers they trusted.  

The elaborate scheme came to a screeching halt when the Texas Securities Board and North Carolina Board issued ‘cease and desist’ orders to Bitconnect.

The price of Bitconnect which was coasting at $377 on January 7th, 2018 came crumbling down to $8 by January 28th, 2018.  A fall of 98%.   

This left the investors in a shock.

Since the unfolding of this elaborate scam, the FBI has been investigating the Bitconnect.  They have issued a statement and soliciting information from the victims: “The entire market for BCC crashed in late January 2018, after two U.S. state-level securities regulators issued public letters warning investors of the Ponzi-type nature of Bitconnect. This led to Bitconnect completely shutting down its exchange for BCC, eliminating the market for the cryptocurrency and stranding investors with near-worthless cryptocurrency.”

Bitconnect’s scam had the hallmarks of a classic ponzi scam including:

  • Crazy rate of return without any actual product or service
  • Pyramid referral system
  • Lack of transparency about the core team
  • Lack of reliable backers or advisors on the platform
  • Too many shillers promoting the project for affiliate commissions

NOTE: If you are a victim of the Bitconnect scam, you can help the FBI with their investigation by completing a brief questionnaire.

One Coin scam in brief

One Coin Scam

OneCoin is one THE biggest exit scam in the crypto space costing investors an estimated $4 Billion.  Yet, the signs were not apparent with the OneCoin.  

OneCoin claimed itself to be a cryptocurrency that people could mine and use it as a payment system.  

Their official channel and the video is still available:

Because people were given the option to mine the coins, it was difficult to suspect a foul play.  However, the mining was not a Proof of Work where you use your computer to mine the coins, they used a Proof of Stake model.  

How do you stake if you don’t have the coins?

You cannot.  

Here is where the evil genius was incredible. OneCoin offered various packages with different staking output rates.

For instance, check the rate of staking output in below table:

One coin rate of staking output

Not just that, some packages were listed for insane price:

Coinone Package

Here is Ruja herself selling a package on top of existing packages as a ‘special time sensitive’ deal to the innocent investors.

“The bitch of Wall Street meets MLM”

The true success of OneCoin was clubbing the OneCoin staking model with a pyramid like Multi-Level Marketing (MLM) model. 

Dr. Ruja’s ingenious plan took a moonshot when she involved the who’s who of the MLM industry who were quickly lured into selling OneCoin to their network to tap into the insane gains.  Some of them even made millions in just commissions.

These MLM marketers then bought more OneCoin to qualify for a higher payouts and potential of minting millions when OneCoin hits €100.

She not only convinced the most successful businessmen from the MLM world to work for OneCoin, she even got them by the chops by luring them to invest their own profits back into the OneCoin.

Dr. Ruja referred to herself as ““the bitch of Wall Street, meets MLM”.   And she indeed was.

Evils beyond control of Dr. Ruja

The BBC expose describes that Dr. Ruja never wanted the OneCoin scam to grow as big as it did.  But once it did, she couldn’t stop it because she was not let to.  

BBC article reveals that “People involved at the early stages have told him it was never supposed to be a billion-dollar scam. She tried to close it down, he says, but the dark forces wouldn’t let her.”

At the end, Dr. Ruja’s brainchild helped many shillers, scammers and evil forces to become filthy rich while leaving many innocent investors who were looking to become rich with OneCoin were burnt and left to ashes.

Dr. Ruja’s brother was arrested in the US on money laundering charges.  Dr. Ruja is still at large. 

In summary, here is how OneCoin scam unfolded:

  • Dr. Ruja introduced OneCoin as the ‘bitcoin killer’
  • Investors were required to buy into packages to be able to mine OneCoin
  • Packages ran from €140 to €55000 (and more)
  • Investors inviting others to the platform were paid commissions
  • These commissions were paid in 60% cash and 40% OneCoin
  • Many people re-invested their commissions back into OneCoin in the hope of becoming millionaires
  • Dr. Ruja has been missing since 2017 although her brother was arrested in the US on Money Laundering charges
  • The total scam is estimated to be over $4 Billion although many people believe it might be in the ballpark of over $10 Billion

Lessons learned from One Coin and Bitconnect debacle

Every ponzi-pyramid-scam scheme has a few themes that can help you identify them before losing money or FOMO in.

Here are a few:

crypto Scam Alert

  • Salesmen or confidants?

One determining factor that seems to work almost every time is the gut feeling.   

Are you getting a sense of dealing with an old car salesman or are you feeling like you’re talking to someone who is passionate about what they are doing.  

This key distinction is what your gut is great at picking on.  

Do not ignore it.  

We run away whenever we are dealing with salesy folks, even if the project sounds ok.  Prime example:  

We stayed away from Bidao ICO project because of their salesy ICO structure.  

Don’t ignore your gut feeling, it is right most of the time. 

  • Too good to be true

If it is too good to be true, then it probably is a scam.  

While there are exceptions to this rule when it comes to Bitcoin and seed investment, they take incredible patience and they never promise anything.  Contrast to that, the ponzi-pyramid-scams all promise the sky and beyond.  If it sounds too good to be true – think again before handing your wallet over.

  • Stinks like a ‘get rich quick’ scheme rather than an investment

Retire within 6 months  |  Make a year’s worth salary over a weekend | This is next bitcoin, but better | Plug and play, watch your income multiply without any work | No work or experience needed, we will do it for you, just give us your money.

All of these statements are designed to do one thing and one thing only: separate you from your hard earned money.

  • No actual product or solution

If all you see in a business is a ‘promise’ to pay you exorbitant amounts of returns on your investment but they have no product or service in place, that is a clear indication that they are a ponzi.

Even if you do see a product or service and if that is mediocre at best or looks like it has been mashed up together to lure people – dig more before you part with your money.

  • Lure of Insider information

Crypto gurus are experts at this.  

Their pitch always starts something like “we have just uncovered this massive movement that no one is seeing, and this could turn your $1000 to $1 Million in 6 months” or something in those lines.  

If you read such hyperbole – know that they are out to get you.

  • Tier systems

Tier system: Invest $100 get 5% free, Invest $1000 get 15% free and so on, these are classic tier systems.  They also take shape of ‘invite 5 friends and get this benefit, invite 15 friends and become a VIP, etc.,’ 

Not all tier systems are a scam. Most are.

If the program structure is such that you get a cut from every new ‘victim’ you introduce then it is most probably a scam waiting to happen.

The people who get involved early in this pyramid scam do get money and that is why they honestly believe that they have discovered a gold mine and it is difficult for most of them to believe that they are innocently perpetuating a scam.  

This lure of making boat loads of money pushes them to pimp the project even harder making the inventors of the scam super rich.

  • FOMO offers

FomoInvest in the next 3 hours and get this bonus | Leave everyone behind by investing early |  First 1000 investors will be elite members eligible for special dividends | Difference between investing now and a month later is $150000000000 | and so on.

If the pitch is designed to appeal to your greed and instigates a Fear of Missing Out response, take a deep breath.  Are you about to take a plunge into scam-verse?

  • Glitter, lots of it

One of the hallmarks of an elaborate scam is the grand events and expensive venues.

Why not, it’s not their hard earned money that they are splurging.  

These events usually take place in grandiose settings, blasting music, food and beverages flowing freely and glamor is everywhere.  

People fall for the glamor in the hopes that they too will be living this shiny life themselves one day.  

That lure for glamor is the kiss of death for their hard earned money.   If you see too much glitter – run away before it sticks on you.

  • Lock in your capital, no thanks

One of the giveaways of a scam is the promise to pay you interest and your capital back after a specified term.  

For instance, a company could promise to return your Bitcoin with a 50% interest if you lock in for 6 months or a year or so.  

If they can convince enough people to do the same, they can just return the money from the people who invested after you to make the market believe that they are indeed paying the crazy interest promised and thus creating a FOMO in the unassuming investors.  

Once it scales – they can shut the door without raising the flags since everyone would be waiting for the time to lapse.  

  • Lack of reliable backers/advisors

You will not find people with great reputation involved in the projects.  The people who do lend their name or become part of the team will be the ones with hard to verify history or they appear on the world scene suddenly.  

If you think about it, we did not know who Vitalik Buterin was, however, we saw many reliable crypto industry veterans backed his idea and got involved with the project.

Bitconnect had no intellectual or upright backers. 

In fact, Vitalik called them out as Ponzi at the outset, albeit, his warnings fell on deaf ears.

  • FREE, Free, freeeeeee!

Free CryptoInvest today to get 50% free.  

Invite your friends and we will give 50% of their investment, for free.  

Share our news on YOUR social feed and we will give you XX for free.  

Email your friends about us and for every single email that gets read, you will get $$.  

The list goes on.  

Whenever you see ‘FREE’ offers to invite more people – it probably is a scam that is preying on greed.  

Run away at once.

Common factors in One Coin and Bitconnect scams

There were some striking resemblances between these two scams.  Look at the below summary table:

Warning signs
BitConnect
Comments
OneCoin
Comments
Affiliate commissions for bringing new investors
Yes
People were paid handsomely for bringing new investors onboard
YesPerpetual commissions were promised to 'shillers'
Tiered structure investment plans
YesPlans ranged from Euro 140 to Eur 55,000 or more
Yes
Interest based on investment amount from $1000 to $100000+
Too good to be true offers
YesSold on the hope of OneCoin reaching Euro 100 one day
YesPromise of interest of over 40% per month
Pyramid scheme
YesMLM combined with cryptocurrency
YesMulti-level referral system from commissions of .5% to 7%
Lack of experts and industry professionals
YesNo known experts were onboard
YesNo known experts were onboard

Why should you not trust influencers?

In the cases of Bitconnect and One Coin, the so called media influencers (bloggers, YouTubers, Twitter celebrities, Facebook groups, etc.,) have all been duped into FOMO and they in turn created a FOMO in their followers.  

It is not clear whether or not these influencers were actually aware of the schematics of the elaborate plan to scam people of their money, nevertheless, they have played a BIG role in people losing their hard earned money.

The entire crypto space is less than 10 years old.  It actually got serious followers in the last 5 or so years.  For someone to claim that they are experts in the field is utterly misleading.  

We have always been telling our readers – never trust anyone on the internet, especially shillers. Do your own research and use the information on the internet to gain multiple perspectives.  

Force yourself to search for the negative point of view when you are in the grips of FOMO.

That one strategy of forcing yourself to search for multiple POVs seems to work excellently from our own experience.

Are you FOMOing?  use our FOMO/FUD checker to find out!

Enjoy.

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

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

best Crypto Tax Software

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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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.

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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!

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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