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Who to trust when picking the best Cryptocurrency to invest in?

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Investing guru

WHO to trust for cryptocurrency advice? A look at popular crypto gurus  

What can you expect in this article?

  • Reasons to be invested in crypto space
  • Learn about Dollar cost averaging concept
  • Look at the track record of 4 of the gurus in the crypto space
  • How their track record weighs against each other
  • Whether you should use their services?

If you are new to the whole bitcoin and blockchain space, it can get easily overwhelming to narrow down an investment choice. 

With over 5100 projects trading, it is quite natural to feel lost.  

Wherever there is a problem there are people offering solutions.  

Best Crypto tax software

In the crypto space, you will come across hundreds of YouTube/Twitter experts who never owned a suit or learned how to tie a tie and have never understood a chart, and you want to stay away from them. 

There are a few experts in the crypto space who have been in the financial markets for a long time.  They bring the lessons they learned in the traditional financial markets to the crypto space.  

Although both these markets are quite different, some basics remain common.  For example: psychology of traders, FOMO, FUD all translate the same to crypto from traditional markets.

So there is a definite advantage to having traditional market experience and we are going to look at 4 experts in the crypto space who bring their traditional markets experience to crypto.  

All of these individuals were popular (for good or bad) in their own right even before they entered the crypto space.  We are going to look at: what they have to offer, their track record, their past predictions, what does it cost to get them to whisper their picks to you and whether it is really worth listening to them?

In this article, we will examine :

  • Why it is hard not to FOMO?
  • Dollar cost averaging method
  • How crypto investment is different from buying a lottery?
  • Strategy of buying expensive investment advice collectively
  • Cost of crypto financial advise vs. traditional financial advice
  • Popular crypto research fames
    • Teeka Tiwari
    • Jeff Berwick
    • James Altucher
    • Doug Casey
  • To take the leap or not to take the leap?

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Hard not to FOMO

Take for instance, Teeka’s pick of NEO which resulted in gains of over 151,400% at peak.  

And, consider Jeff’s pick of Bitcoin when it was only $3.  A 666,667% increase during peak.

With results like these, it is hard not to FOMO.

At the peak of 2017 rally, every joe-schmo was an expert of Crypto.  Why not, a drunken monkey could throw a dart and it would have landed on something that made a lot of money.   

Things are different now.

The need for genuine research is what separates a rookie from someone who is serious about partaking in this wave.

It is difficult to do the research all by yourself if you don’t have the connections, time and resources and that is where these experts come into picture.

They claim to have the connections and make extensive trips to dig into projects before they become mainstream.   

Dollar cost averaging 

Before you go any further, although these are just opinions, it is prudent to put in what you can afford to lose (apparently, that can be perceived as an advice, and we assure you it is our opinion, what you do with your money is not our business).  

Talking about not betting the whole farm on cryptos, you may have heard about the concept of dollar cost averaging.  What dollar cost averaging means is that you buy a small chunk on regular intervals,  lets say 1st of the month, irrespective of the price at the time. 

To find funds for the dollar cost averaging, crypto community suggests that one could cut down on specific costs (let’s say eating out or cancelling a subscription) and diverting those funds to micro investments through dollar cost averaging. 

This way, even if you lose, losses won’t dent your financial health.  However,  if even one of these micro investments turns into a jackpot, then it will shift your financial position massively.

Best Crypto tax software

Bitcoin maximalists say that irrespective of the price of the bitcoin, if you had invested $100 each month since 2016, your overall portfolio would have been 415%, that is, your $4800 investment would have been $24,739;  compare that to the average performance of S&P 500 for the same 3 year period was 37%.

Numbers like that are why mainstream financial institutions are adding bitcoin as a non-correlated hedging vehicle to their client portfolios.  

If you lose, you lose all and small but if you gain, it moves your financial needle.

Is blockchain and crypto investing like buying a lottery?

Short answer is no | Long answer, no.

It’s a no because to invest in blockchain and crypto requires a bit of sophistication.  Even buying crypto from a popular platform like Coinbase involves effort. 

In the lottery, you either lose it all or get it all.  In blockchain and crypto – you may not lose it all and you can hold for whatever period you want to depending on your appetite for risk.

No, crypto investing is not like gambling.  It is more like stock investment but without the legal cover for most projects.

You could compare crypto to liquor during prohibition.  We know it is going mainstream, we just don’t know when.   

Go collectively

This is somewhat controversial, so take it with a grain of salt.

We have heard people from the crypto community who come together to pool money to invest in a subscription service.  Of course, this pool is usually a group of people who trust each other with sharing the information.

For example, if 5 people come together to buy a subscription that costs $1000, then each person is out of pocket $200.  Even if the subscription turns out to be a dud, each of them has lost $200 and could have invested that $800 into the recommendations.  If all of that failed, the whole loss in this case is the cost of subscription had the individual dared to invest all by him/herself.

We do not commend or promote entering into any investment or subscriptions without doing one’s own due diligence – when you narrow down on a particular subscription – it’s better to find ways to spread your risk than going solo, if you are able to.

Someone could oppose this suggestion of pooling, well, we are not suggesting it, we are merely mentioning something that online community already does.

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Comparing the cost with traditional financial advisor costs

Nerdwallet reports that financial advisors charge anywhere from $2000 to $7500 in retainer fees, plus, they charge per plan fees along with annual maintenance fees.

Compared to the traditional financial advisors the crypto gurus cost of advice (or secret reveal) is usually one-time annual subscription and ranges from $200 to $3000 depending on who you go to.

The major difference between a traditional financial advisor and a crypto guru’s advice is, one is based on years of experience while the other is based on, well, special knowledge of the projects, ability to speculate and somewhat luck.

Since the risk is much higher in the crypto space, gains sometimes correlate with the risk.  For instance, Teeka recommended NEO when it was trading in cents while Jeff Berwick recommended bitcoin when it was $3.  

No other traditional financial advisor can claim to turn $500 to a million.  Teeka in his recent promotion did. Some of them have proof to back their claims.

What we are saying here is, as long as you enjoy taking risks on a small amount of money that won’t break your bank if you lose, then the risk-reward in crypto could be crazy.

With that background, let’s now look at each of the four crypto gurus:

    • Doug Casey
    • James Altucher
    • Jeff Berwick
    • Teeka Tiwari

Doug Casey

People either hate him or love him, depending on when they acted on Doug’s recommendations.  

Doug has been in the financial space for over 30 years and has built himself a reputation as “anarcho-capitalist”, and naturally, he has crypto recommendations in his research portfolio.

He recently claimed to have found the NEW ETHEREUM.  

Doug Casey: Get Ready for an Explosive Rally in Mining Stocks

As governments around the world continue to print money, commodities are the place to be. #SNRS19 That’s according to Doug Casey of Casey Research and InternationalMan.com. Speaking at the Sprott Natural Resource Symposium in Vancouver, Casey suggested that within the commodities sector, investors should look at mining stocks, especially juniors.

Historically, Doug had great success with traditional markets.  In our opinion, his wild success is yet to be translated into Crypto space. 

James Altucher

James is great with words.  

My Story – James Altucher

Several years ago, I thought I’d made it. I had made myself a lot of money so I bought the biggest apartment in NYC, I took helicopters to Atlantic City and would gamble for 48 hours straight while drunk. ????SUBSCRIBE : http://bit.ly/JAYTsub I never had this much money in my life before.

Of everyone on this list, he is probably the only bonafide writer who puts his thoughts across very succinctly.  Not just about recommendations but anything he writes about.

James also shares his recommendations on ‘startups’, which is unique.

His gig on crypto doesn’t come cheap, however.  He places a premium tag on his recommendations.

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Teeka Tiwari

Teeka is probably one of the most well-known names in the crypto space. Some snare at him as a snake oil salesman while those who bought NEO and ETHEREUM when he recommended have changed their financial lives. 

At peak, his NEO recommendation turned $100 to $150,000.

One of the unique features of Teeka is that he is well connected with the founders, VCs and players in the market and brings great insights about the project.

He also provides when it’s time to take profits (he calls it skimming the cream).  This is to ensure that the capital is taken out and you are playing on the house.

He recently came out with a new recommendation which he claims (quite audaciously in our view): 5 coins to $5 million.  In this infomercial, Teeka claims that a small investment of $500 into each of these 5 recommendations could one day turn into $5 million.

TEEKA TIWARI – FIVE COINS TO FIVE MILLION | London Real

2020 SUMMIT TICKETS: https://londonreal.tv/summit/ NEW MASTERCLASS EACH WEEK: http://londonreal.tv/masterclass-yt Teeka Tiwari is the former Wall Street trader turned cryptocurrency guru. At age 16 he moved from England to New York City with just $150 in his pocket and 2 years later he became the youngest employee at the Wall Street investment bank Lehman Brothers.

Jeff Berwick

If there is anyone that can be crowned the title of a complete anarchist on this list, it would be Jeff Berwick, in our opinion.

Being the anarchist that Jeff is, he is the biggest advocate of cryptocurrencies. In fact, he recommended Bitcoin to his subscribers when it was trading at $3, at peak, it represented 666,667% in gains.  

Another thing that makes Jeff’s subscription unique is it is the cheaper of all the other services on this list.

Jeff and his team are big fans of metals, stocks, pot industry and cryptocurrency.  

Their newsletters are anything but run-of-the-mill infomercials. They do a great job dissecting the market.

Only thing you have to be careful of is their propensity to be on the extreme when it comes to fiat and anything to do with centralized authorities.

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To take the leap or not to take the leap?

That question depends on many factors such as: 

  • Your financial status
  • Whether or not you are able to pool together with a few friends
  • How confident are you about blockchain and crypto being the future
  • What is your risk appetite
  • Do you have to cut down on spending on certain things to divert funds into crypto, if so, how does that trade-off look like?  Are you comfortable doing it?
  • Do you have the connections or research capabilities to dig out projects worthy of investment from the 2000+ options out there?

Crypto investing is not for everyone. Like in any investment, there are no guarantees and specifically in crypto space, when you gain – your gains may be dizzying but when you lose, you could literally lose the entire investment.

We personally try to diversify our investments, for instance, we like real estate and farm land. We also put a very small amount in startups through platforms like Seed Invest. We have never invested in traditional stocks but we do invest in cryptocurrencies.  

Thank you for reading and sharing this article. You can highlight any text on this page to share on social media.

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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CryptoSpace

Crypto Roundup: All Your YouTube Influencers in One Place

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Crypto Roundup

Visit our Crypto Roundup section daily for a dose of all your favorite Crypto YouTube influencers in one place.    

Worried about missing updates from your favorite YouTube crypto influencers?  

Welcome to the Crypto Roundup.  

On this page, we will post a quick summary of the videos from some of the most popular YouTube crypto influencers.

Ivan on Tech  Altcoin Daily

Crypto Zombie Box Mining

Ellio Trades Lark Davis

Data Dash Bitboy Crypto

MMCrypto Chico Crypto

Altcoin Daily

Video title: Bitcoin Will Be OVER $20,000 By Christmas 2020! BIGGEST WEALTH SHIFT OF OUR LIFETIME! Cryptocurrency

Date: 19-Nov-20

  • World’s biggest wealth shift of our lifetime is happening right now and no mainstream media is talking about it, except CNBC.

  • Preston Pysh predicted on August 26th that: “Bitcoin should be reaching its all time high by Christmas.”

  • If you are looking to buy a dip, there may not be one.
  • Ricardo Salinas Pliego, a mexican billionaire, has just revealed that 10% of his liquid assets are into bitcoin.

Lark Davis

Video Title: STOCKS HIT NEW HIGHS! WILL COVID VACCINES LEAD TO MEGA PUMP IN 2021? [Are You Ready?]

Date: 19-Nov-2020

  • Stock markets and bitcoin pumps higher on the news of the second successful covid vaccine.
  • There could be more chances for the new stimulus. Means more inflation, more debt and simultaneously pumps stocks, gold and bitcoin.

Crypto Zombie

Video Title: BITCOIN $18.5k TOP!!?! DON’T BE FOOLED!! HODL FOMO BEGINS!!! $TRILLIONS FLOOD!!

Date: 18-Nov-2020

  • Overall sentiment of Bitcoin has changed drastically from ICO craze in 2017 to a time where people are FOMOing to own more bitcoin.

Ivan on tech 

Video Title: BIG WARNING TO ALL HODLERS!!!!!!!!! DO NOT GET REKT!!! BITCOIN $18,500 REJECTED – NOW WHAT?

Date: 18-Nov-2020

  • Ivan expects bitcoin to shoot past $20K resistance before end of this year, giving it 85% probability

Chico Crypto

Video Title: World’s Most Powerful Turn BULLISH on BITCOIN

Date: 19-Nov-2020

  • All those who hold big bags of Bitcoin will come out of the shadows to talk up the Bitcoin rally, a $20K bitcoin could be on the cards before the end of this year
  • Ethereum mining could act as a big catalyst for Ethereum’s price
  • Big companies like google could play a bigger role in mass adoption of crypto

Let the FOMO begin…

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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Lessons from the Veteran HODLERS to the Newbies!

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Lessons in Crypto

For all those who entered the crypto market after the 2017 bull run – here are few lessons from the HODLERS from the last bull run(s).

This is our attempt at making all you newbies aware of the mistakes veteran cryptoers did.

Let’s get started…

Don’t FOMO in to all the hype

FomoIt’s hard not to FOMO in crypto.  The trick is to make sure you don’t lose your shirt in crazy bets.  Always limit your bets to what you are comfortable losing.

The common ways you can become victim of FOMO are:

  • Following your favorite YouTuber without actually doing your own research on the project.
  • Investing into projects at the top.
  • Believing in promises of 100x or 1000x without any substance behind those claims.

HODLing far too long

Remember why you are into crypto – to make the money.

Never fall in love with your crypto, and HODL the tokens even when they are 10x and more.

Have a strategy to take your capital out before you become a HODLer.  

If you believe the project really has what it takes to go beyond 100x and more, just sell in instalments so as to not miss the ride.

One of the best ways to HODL is to take your capital in full and profit in tranches.

This rekt story will give you a right perspective of what it looks like, it’s one of many:

Don’t put all your eggs in one basket

Never go all in on one project. No matter how strong the project may look, even the projects with strong fundamentals don’t do well sometimes. 

And, you will be kicking yourself watching other projects go up and your portfolio just doesn’t seem to make a move.

And don’t over do it and have a portfolio with over 100 projects either. It is very difficult not to have invested in more than 15 projects but anything less than 20 is a good way to go, in our opinion. 

Put aside the share of Profits for Taxes.

One way you can get a good night’s sleep is by paying taxes. 

Always keep a habit of putting aside a % of your profits in USDT or other stable coins, as a reserve to take advantage of market volatility and also to meet your tax obligations. 

Exchanges are more evil during bull run

Foreign ExchangesDon’t trust exchanges. Yes we already know that, but they play more games during bullrun, some intentional and some technical. 

Many exchanges tend to go under maintenance when the prices shoot up too high too soon (Coinbase?), and you can’t sell. 

And the shady exchanges scam out before you know.

Regulators seem interested when the market cap of these projects goes through the roof, which then adds FUD around the project crashing the prices.  

Exchange may freeze funds pending investigations when such issues arise.

Take for example OKEx. Users are unable to withdraw their assets from the exchange for almost a month now, not certain if they ever will, and all that started with the legal dispute.

Never fall for Arbitrage gains

Arbitrage is when you buy in one exchange at a lower rate and sell on the other for a higher rate to take some profits. 

Some shady exchanges show a lot higher prices than the other genuine exchanges and when you deposit your assets to sell at those prices there won’t be actual volume to execute the trade. You may be stuck with either a high fee for withdrawal or other funky rules to take your own money out. 

Remember, there is no free Giveaway

Free CryptoScammers rise with the rising market.  

When the crypto market buzzes with all time highs – scammers cash in big time on newbies.

The most lucrative scam in crypto is ‘Free Giveaway’. Whether it be through YouYube ads or discussion groups and wherever they can get your attention.  Read this article on various sophisticated scams that are being deployed.

We hope these lessons help you through your trades and crypto life.  Stay safe and always DYOR.

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

CryptoSpace

Crypto Roundup: All Your YouTube Influencers in One Place

Published

on

crypto news

Visit our Crypto Roundup section daily for a dose of all your favorite Crypto YouTube influencers in one place.    

Worried about missing updates from your favorite YouTube crypto influencers?  

Welcome to the Crypto Roundup.  

On this page, we will post a quick summary of the videos from some of the most popular YouTube crypto influencers.

Ivan on Tech  Altcoin Daily

Crypto Zombie Box Mining

Ellio Trades Lark Davis

Data Dash Bitboy Crypto

MMCrypto Chico Crypto

Altcoin Daily

Video title: The United States Just Brought Bitcoin into the National Conversation!! | Cryptocurrency in 2021

Date: 16-Nov-20

  • Former National Treasurer and the new US Senator Elected, Cynthia Lummis, said Bitcoin fits the bill as a good store of value as it is finite and limited, unlike the inflationary fiat currency.

  • Grayscale adds over 7000 more bitcoin in just the last 24 hours.
  • Just over 16% ETH staked for ETH 2.0 launch on Dec 2 2020.
  • Bitcoin Cash hard fork takes place tomorrow.

Crypto Zombie

Video Title: WARNING!!! BITCOIN 2017 BEAR FRACTAL RETURNS!!! BTC WORST CASE SCENARIO…

Date: 14-Nov-2020

  • Institutional money starts flowing into bitcoin.

  • Paypal goes live with its crypto trading platform for eligible customers. They have also raised the buying limits from the initially set $10,000 to $20,000 per week.
  • DIA, an DeFI Oracle provider, integrates with Polkadot.

Ivan on tech 

Video Title: BITCOIN WILL DO SOMETHING INSANE THIS WEEK!!!! -30% DUMP AHEAD vs $20,000 PARTY – Programmer

Date: 16-Nov-2020

  • Bitcoin could make a big move this week, either hit 20K or we may see a 20% to 30% drop
  • Chainlink partners with Etherisc to deliver agricultural insurance in Kenya.

Ellio Trades

Video Title: UNLOCKING $100 TRILLION? This low cap gem seeks to bridge CeFi and DeFi

Date: 15-Nov-2020

  • DeFI could be similar to the ICO craze in 2017
  • Low cap gem: AllianceBlock
  • AllianceBlock is bridging the gap between DeFi and CeFi
  • AllianceBlock Partnership with Orion Protocol and Chainlink.

Chico Crypto

Video Title: WARNING! An “EVIL” Entity Wants Control of BITCOIN…

Date: 15-Nov-2020

https://www.youtube.com/watch?v=45Ac-5y2ofg

  • 90% of Bitcoin’s mining pools are controlled by China based mining pools
  • As the value of bitcoin goes up – there is a threat of push to ‘control’ the network from China
  • Binance is looking to push through the 50% mining share and Chico believes this could be dangerous

Visit our Crypto Roundup section daily for a dose of all your favorite Crypto YouTube influencers in one place. 

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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