Quotations by Kiana Danial
Here are some popular NFT (non-fungible token) marketplaces: 1) Opensea (opensea.io); 2) Raible (rarible.com); 3) Nifty Gateway (niftygateway.com). If you're thinking of investing in NFTs, it's important to know about the top assets available. Some of the most well-know NFTs are considered to be top tier. These NFTs are highly collectible and in high demand, but there is a limited supply which makes them expensive to buy and invest in. Examples include CryptoPunks and Bored Ape Yacht Club. [2023] - Kiana Danial
Some of the most popular ways to earn crypto dividends are: 1) Stacking: Holding a proof-of-stack coin in a special wallet; 2) Holding: Buying and holding a crypto in any wallet. Some dividend-paying cryptocurrencies include NEO, KuCoin, BridgeCoin, Neblio, and Komodo. In addition, you can earn regular payments by participating in crypto lending. For example, you can earn up to 5% interest on your cryptos by allowing companies like Celsius Network to give out loans to the general public against cryptos. [2019] - Kiana Danial
You can group cryptocurrencies in several different ways for diversification purposes: 1) Transactional cryptocurrencies (Bitcoin & Litecoin): Designed to be used as money and exchanged for goods and services; 2) Platform cryptocurrencies (Ethereum & NEO): Designed to get rid of middlemen, create markets, and even launch other cryptocurrencies. Such cryptocurrencies are generally considered good long-term investments because they rise in value as more applications are created on their blockchain. 3) Privacy cryptocurrencies (Monero, Zcash & Dash): Similar to transactional cryptocurrencies but heavily focused towards transaction security and anonymity. [2019] - Kiana Danial
Ripple has no miners. Instead, transactions are powered through a "centralized" blockchain to make it more reliable and faster. Ripple in particular has gone this route because it wants to work with big banks and therefore wants to combine the best elements of fiat money and blockchain cryptocurrency. [2019] - Kiana Danial
Crypto Exchanges: (1) Centralized cryptocurrency exchange (CEX) - Coinbase (most popular), Bittrex, Kraken, Gemini, Robinhood, Bitfinex (2) Decentralized cryptocurrency exchange (DEX) - IDEX, Waves, Stellar, Bisq (3) Hybrid cryptocurrency exchange - Qurrex, NEXT.exchange [2019] - Kiana Danial
The best way to measure an exchange’s liquidity is to look up its most recent trading volume. Coinmarketcap.com and bitcoincharts.com are two of the many cryptocurrency information websites that rank exchanges based on their volume and liquidity. [2019] - Kiana Danial
Look into the methods of payment the exchange accepts. Some exchanges require deposits by bank transfer, some use PayPal, and some accept credit and debit cards. Typically, the easier it is for you to pay, the more fees you’re going to have to pay. For example, few services allow you to pay with a credit or debit card, and the ones that do will make you pay for the convenience. One example of such services is xCoins (https://xcoins.io/?r=62hcz9), which accepts credit cards and PayPal to exchange Bitcoins. [2019] - Kiana Danial
One of the only viable exchanges that accepts PayPal as a form of money transfer is an exchange called VirWox. One major problem with VirWox is its high fees. If you’re looking to trade cryptos through a broker, eToro (http://partners.etoro.com/A75956_TClick.aspx) is one famous one that accepts PayPal. This type of information is constantly subject to change due to cryptocurrencies’ volatile current state. The best way to stay on top of cryptocurrency news is on websites such as www.newsbtc.com/ and www.coindesk.com/. [2019] - Kiana Danial
One place you can find buyers and sellers of cryptocurrencies for cash is https://localbitcoins.com/?ch=w7ct. Other sites connect buyers and sellers in a way where the seller provides bank details that let the buyer make a cash deposit at the bank. You must keep the receipt to provide proof, and the seller can send you the Bitcoins. Some options in this vein include https://www.bitquick.co/ (part of Athena Bitcoin based in Chicago) and https://paxful.com/ (based in Delaware). [2019] - Kiana Danial
The process of buying cryptocurrencies at an ATM: 1) Verify your identity (using an ID card, for example); 2) Select the cryptocurrency you want to purchase; 3) Provide a cryptocurrency address for deposit; 4) Select the amount of cryptocurrency you want to purchase; 5) Insert cash into the cryptocurrency ATM; 6) Confirm the operation. Some cryptocurrency ATMs even provide services to sell digital coins as well as buy - they’re machines that are connected to the Internet and direct you to a cryptocurrency exchange in order to provide you with your cryptocurrency. [2019] - Kiana Danial
You don’t have to memorize your crypto wallet address. Personally, I keep my wallet address and other keys in a locked document on a secure computer. You can also consider printing your keys and storing them somewhere safe that you won’t forget about. [2019] - Kiana Danial
For security purposes, a hardware wallet is an absolute must (and a bare minimum) for large crypto amounts. Even safer than hardware wallets are paper wallets - you print out your private and public keys. Some paper wallet generators include Bitaddress.org, WalletGenerator.net, Bitcoinpaperwallet.org, and Mycelium (https://mycelium.com/mycelium-entropy.html). Mycelium offers an original and even more secure way to generate paper wallets, with a USB device that you plug directly into your printer. The device generates a paper wallet that automatically gets printed out without ever having touched your computer. [2019] - Kiana Danial
Ledger Nano S hardware wallet (priced at $99) is one of the most popular and highly rated secure wallets out there. Trezor Bitcoin hardware wallet (created by SatoshiLabs) is another example. One catch about these is that if the USB drive dies, all your cryptos go with it. That’s why you should always have a backup and keep your security codes elsewhere so that you can recover your assets. Coinomi (www.coinomi.com/) is a popular multicoin mobile wallet. It supports more than 200 different digital tokens and a number of blockchains. Exodus (https://www.exodus.io/) is another multicoin wallet, available only on desktop. [2019] - Kiana Danial
Many blockchains only disguise users’ identities while leaving behind a public record of all transactions that have occurred on the blockchain. The data in the ledger often includes how many tokens a user has received or sent in historical transactions, as well as the balance of any cryptocurrency in the user’s wallet. Privacy cryptos can be a bit controversial because authorities see them as an illicit tool that for criminals to engage in illegal activities, such as money laundering. Nonetheless, some of them have gained popularity, including Monero (XMR), Zcash (ZEC), CloakCoin (CLOAK) and Dash (DASH) [2019] - Kiana Danial
Some analysts suggest you may want to forget about payment cryptocurrencies and invest in crypto platforms instead. They’re generally considered good long-term investments because they rise in value as more applications are created on their blockchain. The most famous example in this category is Ethereum (ETH). Others include NEO (NEO, China’s largest cryptocurrency), Lisk (LSK), EOS (EOS), Icon (ICX), Qtum (QTUM), VeChain (VEN), Ark (ARK) and Substratum (SUB). [2019] - Kiana Danial
Choosing cryptos that are listed on many different exchanges is also a good idea. Exchanges choose the cryptocurrencies they carry carefully. Finding your finalists on many different exchanges may be a sign that many exchanges have found that crypto to be valuable enough to carry. Therefore, the demand for it may be higher, and you may be able to do more with your investment. You can discover which exchanges carry your crypto of choice on websites such as coinmarketcap.com (e.g. say you want to know which exchanges carry Ripple’s XRP. After selecting Ripple’s XRP on coinmarketcap.com, go to the tab labeled “Markets”). [2019] - Kiana Danial
You can check and compare cryptocurrency volume on websites such as www.cryptocompare.com and coinmarketcap.com, where they show the number of coins that have been traded in the last 24 hours. You can also examine which exchanges had what volume. Generally, the biggest and most popular coins are traded the most. But if you’re trying to choose a cryptocurrency within a specific category (and not simply going for the celebrity cryptos), trading volume can be a very important indicator in making your decision. [2019] - Kiana Danial
During crypto hype, mining equipment such as ASICs becomes incredibly expensive. At the beginning of 2018, for example, they were priced at over $9,000 due to high demand. That’s why you must consider your return on investment before getting yourself involved in mining; sometimes simply buying cryptocurrencies makes more sense than mining them does. The cost of the electricity used by mining computers far exceeds the cost of heating or cooling the house. [2019] - Kiana Danial
The first blockchain ETFs to hit the markets were BLOK and BLCN, both of which launched on January 17, 2018 (right at the time when Bitcoin was taking a hit). On January 29, 2018, another blockchain ETF, KOIN, showed its face in the competition. [2019] - Kiana Danial
I love using limit orders because they allow me to go about my life without worrying about prices too much while the markets do their usual movements. I’m not a big fan of stop-losses. Volatile markets such as cryptocurrencies normally bounce back up from the lows as rapidly as they fall. That’s why by using a stop-loss order, you may end up getting out of your position prematurely and miss out on potential gains. Short-term traders are more likely to use stop-losses. Long-term investors are supposed to have made the risk-management calculation ahead of time, making sure they have enough time to wait things out. [2019] - Kiana Danial