Reading Time: 5 minutes

Trading Strategies When Bitcoin Goes Down – A Short Guide

As we all know, the cryptocurrency market is incredibly volatile. One day, a currency might be soaring to previously unheard heights, and the next, it could be worth almost nothing. This volatility makes it difficult to predict when to invest and how to make profits from the market fluctuations. However, there are a few trading strategies you can use when the value of Bitcoin goes down that can help you make money even in the toughest of markets. This article will discuss some of these strategies and explain how they work.

 

What Determines the Price of Bitcoin?

Before discussing the different trading strategies that can be used when the price of Bitcoin drops, it is important to understand what determines its worth in the first place. Since many cryptocurrencies are not backed by physical assets like gold or silver, their prices are determined by supply and demand. When more people buy a cryptocurrency, the price goes up. The inverse is also true, so when the demand drops, so does the price.

This is why it is vital to keep an eye on news and events that could affect the supply or demand of a particular currency. For example, if there is positive news about a cryptocurrency, such as a new partnership or product release, this could increase demand and cause the price to go up. Alternatively, suppose there is negative news about a cryptocurrency, such as a security breach or regulatory crackdown. In that case, this could lead to a decrease in demand and cause the price to drop.

How Do Cryptocurrencies Have Value

 

Bitcoin Price History

When it comes to Bitcoin, things haven’t always looked so rosy. The currency has had several dramatic price swings over the years. Let’s look at some of the most significant changes in Bitcoin price history (in USD).

  • In June 2011, Bitcoin reached a high of $31.91 but crashed to a low of $2.05 by mid-November. The following year, this cryptocurrency saw a massive rally, reaching a high of $13.50 by mid-August.
  • In 2017, the price of Bitcoin floated at around $1,000 until May, when it almost doubled. This was only a taste of things to come, though: by December 15, it reached the then-high of $19,345.49.
  • Bitcoin welcomed 2020 with a $6,965.72 price tag. The global COVID-19 pandemic actually helped Bitcoin and other major cryptocurrencies: by November 2020, its trading value jumped to $19,157.16.
  • At the time of writing this article, Bitcoin’s value is estimated at $46,630.17, and its value is still rising.

 

The Benefits of Bitcoin Trading

Despite the risks, there are several benefits to trading Bitcoin.

Firstly, it is a very volatile market, which means that there is the potential to make a lot of money if you can predict future price movements correctly.

It is also a very liquid market, which means that you can buy and sell Bitcoin easily without waiting for a buyer or seller – just use a retailer who’s always buying and selling, such as BitPrime, for instance.

Finally, Bitcoin is a global currency accepted in many places worldwide. Nowadays, even traditional banks are getting into the cryptocurrency game and offering various services involving digital assets.

 

bitcoin trading strategies

The Risks of Investing in Bitcoin

Although there are many benefits of investing in Bitcoin and other cryptocurrencies, a few risks should be considered.

A major one is that the price could drop at any time, causing you to lose money (if you were to lock that loss in by selling at such a time). Additionally, cryptocurrencies are still relatively new and unproven, and considering most are not backed by any real-world assets, owning them does represent a measure of risk.

Another thing you should keep in mind, especially when trading, is the market’s volatility. Because the prices can change rapidly, you could gain or lose a lot of money in a short period.

 

Bitcoin Trading Strategies: How to Profit When Bitcoin Price Goes Down

Now that we have a basic understanding of how things work and what affects the price of cryptocurrencies such as Bitcoin, we can discuss different trading strategies that can be used when their price goes down.

 

Short Selling

Short selling is one of the most popular strategies to turn to when the price of Bitcoin goes down. It is a scenario in which you borrow a currency from somebody else and sell it immediately, hoping to repurchase it at a lower price and return it to the original owner.

For example, let’s say that you think the price of Bitcoin is going to drop soon. You could borrow some Bitcoin from a broker for a short period, sell it immediately, and hope to repurchase it at a lower price. If the price does drop, you’ll make a profit! However, if the price goes up, you will have to repurchase the cryptocurrency back at a higher price and probably lose some money.
As rewarding as it can be, this is a high-risk strategy that only experienced traders should use.

 

Hedging

Another strategy you can use when the price of Bitcoin goes down is hedging. This technique allows you to buy and sell different assets simultaneously to reduce your risk. For example, you could buy some Bitcoin while selling some futures contracts for the cryptocurrency. This way, if the price of Bitcoin goes down, you will make money from the traded futures contracts. However, if the price goes up, you will gain money from your Bitcoin investment.

This is a less risky strategy than shorting, but it’s also one where you’ll have lower gains. Depending on the results, you could still lose money or make less of a profit compared to short selling, but it’s also a great safety net for highly volatile investments such as cryptocurrencies.

 

Taking a Break

When the market is volatile and prices are changing rapidly, it can be challenging to make money. It may be better to take a break and wait for the market to calm down before trying again in these situations.

This doesn’t mean you should give up on cryptocurrency altogether, but rather that you should take a step back and analyse what is happening before making any big decisions. Having a long-term goal and strategy is essential to avoid getting too discouraged when things inevitably hit a rough patch.

 

Final Thoughts

Although the price of Bitcoin and other cryptocurrencies can be unpredictable, there are many bitcoin trading strategies you can use to profit even when it goes down. Keep in mind the risks involved with trading and only use methods you are comfortable with. Do your research, stay informed about news and events, and have a plan for when things go wrong.

 


About the author:

Ilija Acimovic is predominately a researcher, someone who likes to dig deep, and finds connections between different insights. Currently contributing to Fortunly, he dwells on all topics related to crypto, tech and finance.

Disclaimer:

The above references an opinion and is for informational purposes only. Do not take this as personalised financial advice or investment advice. The views expressed by the author do not necessarily represent the opinion of BitPrime.

 

Last updated: 13/04/2022

Reading Time: 5 minutes

Why Are NFTs So Popular Right Now? (Plus 6 of the Most Popular NFTs)

The Ethereum blockchain gave birth to NFT by introducing a set of token standards enabling developers to create digital tokens.

NFTs are cryptographic assets that can include digital art, amongst other things, stored on a blockchain network that shows the ownership, authenticity, and provenance of something such as artwork, or real estate, for example. The term “non-fungible token” refers to the fact that the token is one-of-a-kind and cannot be duplicated or exchanged for anything else.

It is important to note that when someone purchases an NFT artwork that has been authenticated, they are not buying the digital asset in its entirety. Instead, they’re buying a digitally authenticated note that declares they hold the NFT ownership. Anyone can download a copy of the file or link corresponding to whatever the NFT is tokenising, but only the NFT space owner has the contract that specifies their ownership rights.

 

Why Were NFTs Introduced in the First Place?

When Christie’s sold an NFT called ‘Everydays: The First 5000 Days’ by digital artist Beeple for $69 million in March, it became the talk of the town. That’s when the rest of the world took notice.

Beeple’s Everydays: The First 5000 Days
Beeple’s Everydays: The First 5000 Days

NFT collectables have exploded in popularity because they provide an alternative model for people to own valuable digital content.

They’ve got a means of proving ownership of a digital object that could otherwise be easily replicated. Unlike an old painting or sculpture, digital artwork is incredibly simple to duplicate – all it takes is a simple download. NFTs show authenticity, in the same way, the blockchain guarantees that a single bitcoin or portion thereof belongs to only one person.

Unlike physical artworks, which can be broken, lost, or destroyed, NFTs cannot be destroyed because they are recorded on a blockchain, an immutable record of transactions. The majority of NFTs use the Ethereum blockchain, but there are others.

 

NFTs Provide a Different Way to Own Items

Built-in royalties are enabled by the NFT technology, this benefits the artists resulting in a far more financially rewarding market than most creators are accustomed to.

NFTs provide an alternative model, allowing people to own digital content that is valuable to them independently of leading media platforms’ whims and interests. NFTs can be shared and used across multiple platforms, and they remain the owner’s property until they are sold. For example, if you’re a basketball fan, you can buy an NFT of the best shots from 2021 that will be yours forever and can be used on any platform you want, with no restrictions.

NFT transactions use blockchain authentication to prove ownership – a digital “original”. Blockchain enables you to quickly determine whether an NFT you’re looking at is genuine. Owning an NFT, like other “originals,” can be a status symbol for collectors. But it’s not just about bragging rights on the internet. Collectors of NFTs, like those of other more tangible art forms, have a wide range of motivations. Some people may adore the piece and want to own it, while others may see it as a way to gain status or make money.

Owning an NFT provides the same sense of permanence and ownership as physical items, but for digital assets.

 

What Is It About NFTs That Makes Them So Popular?

NFTs are useful for more than just tokenising assets. For example, in the case of “Every day,” the NFT gives the token’s creator a cut of future sales, with Beeple receiving 10%. This can assist artists in securing a steady stream of income – and, more importantly, a portion of future resale value.

The Ethereum network is where the majority of NFTs are created so far. The ownership of NFTs can be traced and verified, but the token’s owner can remain pseudonymous.

NFTs have one owner at a time. To manage ownership, each token has a unique ID and metadata no other token can duplicate. They’re created using smart contracts that assign ownership and manage the transferability of NFTs. The blockchain, where the NFT is managed, stores this data. At a high level, the minting process entails adding a new block to the blockchain, validating information, and recording it.

As a result, tokenised art comes with a one-of-a-kind digital certificate of ownership that can be sold or purchased online. It is transparent and cannot be copied or stolen because it is stored in blockchain.

 

NFTs That Were the Most Popular in 2021–2022 (So Far)

In the last year, there have been several blockbuster NFTs. Beeple was the most popular artist, but TRG Datacenters used Google Trends data and social media to look at some of the other most googled NFT art pieces between January and September 2021.

Twitter co-founder, Jack Dorsey’s first tweet was the most popular NFT by search. Hash marks, a collection of over 16,000 unique digital assets created in collaboration with 70 artists worldwide, was the second. According to the industry website The Block Crypto, the project “sold its collection of 16,384 NFTs for $16 million in less than a week, with the most expensive Hashmask selling for 420 ETH ($650,000).”

The iconic DOGE meme, which features the now-famous Shiba Inu Japanese dog breed, which sold for $4 million in June this year, was the third most popular NFT by search volume. “The NFT is now valued at $220 million after being fractionalized into 17 billion pieces – split up to allow for community ownership,” Business Insider reported in September.

doge meme - why are nfts so popular right now

 

6 of the Most Popular NFTs

  1. The Bored Ape Yacht Club is the most well-known NFT collection (BAYC). YouTuber Logan Paul has invested in BAYC. Eminem, the American rapper, is the most recent celebrity to jump on board, owning a piece of digital art that looks like him. He also uses it as his profile picture on Twitter. On the Ethereum blockchain, the Bored Ape Yacht Club is a popular series of NFT profile images. They retail for tens of thousands of dollars, and a rising number of high-profile celebrities are buying them.
  2. The game Axie Infinity is a top NFT project to keep an eye on in 2022. It’s a blockchain game where you can earn money by playing. The metaverse game was first released in May 2018 and has grown in popularity significantly over the past year.
  3. Cool Cats is another NFT collection that has been making headlines, and it is based on the Ethereum blockchain. It was released in June 2021 and featured 9,999 unique characters based on a blue cat animation. The combination of varying facial expressions, traits, and attires, however, is what distinguishes each of these characters.
  4. The Mutant Ape Yacht Club (MAYC) is a separate project from the BAYC that features a unique collection of apes. MAYC debuted in August of 2021. The collection included 10,000 Mutant Apes, which sold for USD 96 million on the spot. It was an expensive NFT.
  5. Larva Labs created Meebits in May 2021. Meebits is a pixelated 3D avatar that we can use in the virtual world, and it has a similar vibe to CryptoPunks. There are 20,000 unique characters in the NFT collection that can be rendered. Depending on the rarity of the characters, their prices can reach hundreds of ETHs. An NFT, on the other hand, costs around $14,700 on average.
  6. Decentraland is one of the newest projects among NFTs, launched in July 2020. Decentraland, which sits atop the Ethereum blockchain, allows users to enter a virtual reality world to buy land, build homes, and create avatars. Not only that, but owners can also trade their digital collectables.

 

Is the Future of NFTs Going to Boom or Bust?

There is no shortage of enthusiasm for NFTs. A number of cryptocurrency exchanges are interested in participating. The NFT market is expected to surpass the size of Coinbase’s cryptocurrency business, which recently reported third-quarter revenue of about $1.3 billion, according to the exchange’s CEO Brian Armstrong.

Coinbase announced its entrance to the NFT market by launching its own NFT marketplace on October 12, 2021, and has sparked high interest among the community since then, as the platform’s backing from the largest exchange in the United States would put it in direct competition with other titans like OpenSea, Rarible, NBA Top Shot Marketplace, Binance NFT, and Crypto.com, among others.

NFTs may be trending in town right now, but they still have a long way to go before becoming widely accepted and truly mainstream, as with any new technology.

 


About the author:

Shivangi Shrivastava

Disclaimer:

The above references an opinion and is for informational purposes only. Do not take this as personalised financial advice or investment advice. The views expressed by the author do not necessarily represent the opinion of BitPrime.

 

Last updated: 29/03/2022

Reading Time: 8 minutes

How to Create NFT Art

An NFT called Floating in Space by Visualdon
An NFT called Floating in Space by Visualdon.

NFTs NFTs NFTs! NFT art has arguably been the best thing about 2021. Crypto’s most dearly loved baby girl has been booming ever since she was introduced to the world. No denying this digital asset could be the biggest thing to revolutionise the world since the internet was conceived. Yes, truly fantastic. That is what NFT (or Non-Fungible Token) art is set to become as it grows in popularity across the globe. It is the latest in fintech and artificial intelligence that can validate the authenticity of any digital file in the form of art, music, video games, etc. made by a creator or digital artist. It is also becoming a gold rush everyone is invited to, from artists to any mammal with a pulse that can use Photoshop. There is a rapidly growing interest as to why the NFT craze is the talk of the town.

 

What Makes NFT Art Desirable?

NFT trading volumes from Q3 2020 to Q4 2021
NFT trading volumes from Q3 2020 to Q4 2021 in USD (millions). Note: figures were only taken from OpenSea NFT marketplace. Since it accounts for most NFT sales, these figures are relatively accurate. Furthermore, data only shows trading volumes “off-chain”.

What makes NFT art so desirable? Addressing the elephant in the room is the fact it’s a very lucrative market right now. Crypto art is significantly responsible for why the blockchain industry is soaring. DappRadar reported how NFTs peaked at over NZD34.04  billion (USD23 billion) in trading volumes for the fourth quarter of 2021. NFT sales have soared exponentially. In the 3rd quarter of 2021, NFTs generated NZD15.24 billion (USD10.67) in trading volume. That’s an increase of 704% from the 2nd Quarter of 2021. Previously, NFT trading volume grew 25% each quarter for the last three quarters. From Q3 2020 to Q3 2021, year-on-year trading volume rose an astronomical 38,060%! Where was I during all this madness? Its demand is off the charts! With such figures, investors are attracted because they speculate NFT art will continue to increase in value. Still not convinced? NFT trading volumes for the 4th quarter make it bigger than McDonald’s!

Human Kind One of the 5000 NFTs in Beeples Everydays The first 5000 Days collection
Human Kind– One of the 5000 NFTs in Beeple’s “Everydays: The first 5000 Days” collection

Furthermore, media outlets circulating the story of digital artist Mike Winkelmann, a.k.a Beeple, selling an NFT for NZD95.22 million to Vignesh Sundaresan on 11th March last year certainly added to people’s NFT curiosity. Even though it took the highly talented artist over 13 years to create the collection (hence the name Everydays – The first 5000 days), the fact they are non-fungible tokens piqued interest in digital content. Another project that added fuel to the NFT hype train was Chris Torres’ Nyan Cat, a GIF he created in 2011 and remastered into an NFT in early 2021 sold for almost NZD796,500! Seeing this happen made everyone believe they can draw a basic JPEG image and make absurd profits, thus propelling NFT art mania.

Vakseens His Royal Airness digital artwork
Vakseen’s “His Royal Airness” digital artwork

From an NFT artist perspective, NFTs have revitalised an industry on life support. Selling art is tough, so for the art world to be highly profitable in the past year has really incentivised creators. Blockchain not only verifies ownership, but digital artists can now receive royalties each time their art is sold in the NFT marketplace. Thanks to blockchain technology, many people believe justice has finally been brought to the art community.

 

tax

Legal Implications NFT Sales; Yes, You Over There! 

Crypto-assets’ definition and tax rules don’t apply to NFTs, but that doesn’t mean there’s no taxation for those selling them. The New Zealand Inland Revenue (IRD) hasn’t clearly stated that NFTs are taxed. Nonetheless, it’s advised to consult them. The New Zealand Parliamentary Counsel Office has said in the Taxation (Annual Rates for 2021-22, GST, and Remedial Matters) Bill crypto assets are excluded from Goods and Services Tax. However, it’s crucial to note that GST of 15% applies to New Zealand residents buying NFTs.

ip

In terms of having a different perspective, Malta-based law firm WH Partners highly recommends hiring a lawyer and seeking professional advice regarding the legality of selling NFTs. Such advice can help define NFT digital art as 1) a financial instrument because a security backs it and 2) abides with Intellectual Property or copyright laws giving the content creator image rights and rights reserved. I.P. is quite tricky because even though the buyer purchases an NFT, the exclusive rights aren’t purchased with it unless the contract specifies it.

copyright

Having NFTs clearly defined in a smart contract can aid someone selling one in complying with Intellectual Property (I.P) and copyright laws. A Smart contract can clearly state the original creator, the current owner, and who owns exclusive image credit and reserved rights. This will help avoid any issues that would have gone to court. An NFT smart contract can have conditions written to address these two issues that decide if an NFT sale is legal or illegal. A smart contract of the NFT sale should specify if the client is acquiring the digital asset as a licence to use or as I.P. Furthermore, the issuer also needs to provide the ownership of the I.P being sold or licenced.

 

Digital art by tubik arts
Digital art by tubik.arts.

Tools Needed to Create NFT Artwork

Now we’re aware of the risks, let’s create the Mona Lisa of digital artwork. The marketplace where the NFT is eventually sold often gives the option to use a generic NFT token or create one from scratch.

 

Decide on a Concept; It’s Not Russian Roulette

It’s important to know what type of art you want to make. NFT Art can be 3D art, digital, contemporary, photo painting etc. Even a physical drawing is OK, as long as there’s a digital file. There are many free options for creating digital art. Software such as KRITA, Sketchpad etc., are ideal for everyone. However, using Adobe Photoshop for NZD31.35/month is worth it because there are more tools to work with. After creating your work, save it as a digital file on a computer, phone etc. You’ll then upload it to an NFT marketplace (discussed soon).

ETHGasStation the industry-leading Ethereum gas price estimator
ETHGasStation: the industry-leading Ethereum gas price estimator.

Gas Prices on the Rise, Be Sure to Invoice BP

The cost associated with creating an NFT is Gas fees. No relation to petrol. These ether fees are incurred by anyone minting (certifying/authenticating) an NFT on the Ethereum blockchain. A significant amount of input is required for a computer minting NFT information to the Ethereum blockchain. Input refers to the services of Ethereum miners when verifying and processing commands on the blockchain. Their fee for conducting this work is known as gas fees.

A representation of Ether

As a digital artist, the gas fees you will have to pay fluctuate based on the supply and demand for processing power. This is really important as you are expected to pay gas fees somewhere between NZD37.43 to NZD149.70 in ether (as of 25th January). It’s crucial to set a gas limit that states how many gas units you must purchase for the transaction. It’s more efficient to pay a higher gas fee to execute faster transactions. Failure to do this runs the risk of your transaction not being processed, and you can lose the gas fees you paid initially. The last item to note with all of the above is there’s no guarantee anyone will purchase your NFT art. Bitcoin Wallet

Selecting a Crypto Wallet: Mine Is Half Robocop and Cow

The next step is creating an account on an NFT marketplace/platform. This is done by setting up a crypto wallet. A digital wallet ensures the safeguard of private keys and facilitates the transacting and storage of tokens. It’s a requirement to use a wallet compatible with the same blockchain network as your cryptocurrency. For example, selling NFTs on a platform such as OpenSea requires a digital wallet that supports Ethereum since OpenSea uses the Ethereum blockchain. Digital wallets compatible with OpenSea include Metamask wallet, Coinbase Wallet and TrustWallet, to name a few.

The OceanSea marketplace
The OceanSea marketplace.

Connecting the wallet to the platform is a simple process of copying and pasting your wallet address. Note there should already be the appropriate amount of crypto in the wallet. Once the account is complete, there are two options: uploading the digital file (to be minted as an NFT) or using a generic token already on the NFT marketplace. Next, the creator sets the price for the auction bid. The last step is minting the NFT information. The most used network is Ethereum, as mentioned earlier. The platform sends a notification to the crypto wallet confirming you made an order to mint the NFT. You must pay a transaction fee from the crypto wallet to execute this request.

People connecting through art
People connect through art.

How to Market and Sell Your NFT Art

1) Marketing NFT Art

Directly from Mike Winkelmann himself, sharing your digital content for free on social media is the best form of marketing. Let your art piece speak for itself and engage with your social following as much as possible. Don’t try to sell an NFT straight away. People are attracted to people, not robot salespeople. A community/audience is created for the love of an NFT collection. The demand for the NFT may rise, thus increasing its value. More tips on marketing an NFT: consider using social media influencers and article reviews. In such situations, it would be wise to have an NFT that is unique or has utility because having some kind of purpose is valuable. A generic NFT does more harm than good.

The Rarible NFT platform
The Rarible NFT platform.

2) Selling NFT Art

2.1) The NFT Marketplace

In more detail, it’s important to discuss NFT platforms or marketplaces. The choices are limitless to sell digital art. The most popular is OpenSea. It should be noted some marketplaces such as OpenSea require payment for initialising one’s account. An estimate of this fee can be anywhere from NZD74.75 to NZD448.52.

A second recommendation would be Rarible. These two platforms are the largest markets of NFT collectables, boasting a plethora of digital assets. What makes these two marketplaces more attractive is that digital art can be created and listed on an auction via the art of lazy minting without paying any gas fees. Yes, genuinely fantastic.

Nifty Gateway
Nifty Gateway

The next platform to recommend is Nifty Gateway. It’s a platform for the real NFT artist – a market that upholds prestige and integrity in the NFT space.

The 4th and final NFT platform is Litho. Launched by NZ-based CENNZnet, Litho is the world’s only user-first blockchain technology, which means digital artists create NFT artwork based on how the customers want them to look.

A phone containing a signed lithograph at London's House of Fine Art
A phone containing a signed lithograph at London’s House of Fine Art.
2.2) A List Showing All the Revenue and Expenses

Whichever marketplace you choose, consider the trading/ listing fees incurred for NFT sellers and creators before the sale. Fees vary based on the marketplace.

From the experience of a digital artist selling NFTs, an accurate illustration of the revenues and expenses of a creator selling nonfungible tokens will be the following:

*Note that the figures and percentages used are not considered the official revenues and expenses incurred by the NFT artist and are for illustration purposes. Not all revenues/expenditures will be included in an NFT marketplace.

Revenue
    • Primary sale
    • Secondary sale (-5% fee for buyer)
    • Royalties (10% to original creator)
Expenses
    • Gas fee (*subject to Gas limit)
    • One-time initialising fee (if required)
    • Listing fee
    • Claim fee
    • 15% of primary sale allocated to platform
    • Artist net profit = total revenue-total expenses.
Now let’s use an example of selling an NFT project on Foundation (an NFT platform) using a Coinbase Wallet.

e.g. Primary sale Price is NZ$500

Mint Price: -NZ$70

Listing fee: -NZ$80

Claim: -NZ$20

Foundation: NZ$75 *(This is 15% of primary sale allocated to Foundation)

Total Expenses = NZ$245

Artist net profit = NZ$500 – NZ$ 245 =NZ$255 

FEWOCIOUS one of the most successful NFT artist
FEWOCIOUS is one of the most successful NFT artists.

Conclusion

Once the digital art has been created; an audience that wants to purchase the Non-Fungible Token has successfully been built; an account on a suitable platform has been created, and related costs and revenues have been assessed; it’s finally time to sell that crypto art!

To make it very clear, aspiring NFT creators should walk into the art world with their eyes wide open. Creating NFT art should be seen as an opportunity to create a digital asset with utility. Don’t buy into the NFT craze blindly; just because crypto isn’t fully regulated doesn’t mean common sense should fly out the window. You should handle technology with the potential to revolutionise entire industries with care.

Now enough about NFTs! Actually, one last time because they’re really cool. NFTs NFTs NFTs!


About the author:

Enos Petrus

Disclaimer:

The above references an opinion and is for informational purposes only. Do not take this as personalised financial advice or investment advice. The views expressed by the author do not necessarily represent the opinion of BitPrime.

 

Last updated: 25/02/2022

Reading Time: 4 minutes

Technical Analysis – Support and Resistance

Trading crypto, stocks, currency, or metal is a game; and like any other game, it has its own set of simple rules. Let’s start learning a few simple analysis rules to understand support and resistance levels.

Rule # 1

Bulls and Bears: Two players are involved in the Game of Trading; the bulls and the bears. This simple analogy will help us understand the above topic simply yet lucidly.

Rule #2

The bulls are programmed to push prices higher (Up), while bears are programmed to drag prices lower (Down). Very simple right? Yes, we want to keep it simple.

Rule #3

When a new high is printed, the bulls score a point and pull back. On the other side, when a new low is printed, bears score a point and pull back. This rule is worth remembering to avoid pitfalls.

Support and Resistance
Click the image to view full-size.
Support and Resistance
Click the image to view full-size.

As bulls and bears take control and score points, critical supports and resistances are formed and broken. Let us now turn our attention to understanding support and its significance.

 

Lows and Supports

Before we understand supports, let us first define a low since it’s the first step to carving a strong support level. When we have a group of five candlesticks and the low of the centre candlestick is the lowest, it is a technical low.

Support and Resistance
Click the image to view full-size.

Please note the arcs consisting of five candles and the low defined in the chart pattern above. It’s helpful and essential to find the lows in a rising market since they are potential supports! The stop-loss goes below the low when we enter buying.

Now, let us clearly define and understand support. In simple terms, support is a specific price or range which holds market prices higher than itself. To give a crude example, your support at the moment could be a chair or a couch. It keeps you from falling lower, as supports hold prices higher.

 

Technical Definition of Support

Support is low, which fulfils the following two requirements:

  1. It is higher than the previous low.
  2. The market has printed a new high already.
Support and Resistance
Click the image to view full-size.

The price chart above notes that $28,700 is higher than $16,200, and a new high is in place at $69,000. Hence it is defined as S2 on the chart. Similarly, S1 at $39,500 is higher than $28,700 with a new high in place.

What do you think of $39,600 carved on the right side of $69,000 highs? Can we define it as support yet? The answer is no; since we do not have a new high above $69,000 yet. But it can be defined as a low, which has the potential to become future support.

 

Points to Remember While Identifying a Support Line

  1. Supports are always formed in a rising market. We should focus on identifying supports only when markets rise; you will save much time.
  2. Until the time S1 is intact, prices are expected to print higher highs. Hence significance is of the support when markets are rising.

Steps to Identify Supports the Right Way

  1. Identify the highest point in a rising market. It is $69,000 on the above chart.
  2. Drag your mouse inclined backwards from there and stop at each low defining S1, S2, and so on.
  3. On the above chart, the first low is $39,500 (S1), followed by $28,700 (S2) $16,200 (S3), respectively.

 

Do It Yourself: Identify Supports

DIY support and Resistance
Click the image to view full-size and practice identifying supports.

 

Highs and Resistances

Let us now focus on understanding a technical high before moving on to resistances. When we observe a group of five candles, and the centre candlestick high is the highest of them all, it is the technical high.

Support and Resistance
Click the image to view full-size.

On the chart above, note the arcs consisting of five candles and the high defined. If we find the highs in dropping markets, they are potential resistances! The stop-loss goes above the high when we enter selling.

Now, let us clearly define and understand resistance. In layman terms, resistance is a specific price or range which holds market prices lower than itself. To illustrate again, our current resistance level could be the ceiling. Ignoring gravity, it keeps us from rising beyond, as resistances hold the price level lower.

 

Technical Definition of Resistance

Resistance is a high which fulfils the following two requirements:

  1. It is lower than the previous high.
  2. The market has printed a new low already.
Support and Resistance
Click the image to view full-size.

On the chart above, $60,000 is lower than $66,000, and a new low is in place at $41,274. Hence it is defined as R2 on the chart. Similarly, R1 at $52,100 is lower than $60,000, with a new low in place at $39,600.

What do you think of $44,450 carved on the right side of $39,600 lows? Can we define it as a resistance yet? Again, no – we don’t have a new low below $39,600 yet. But it can be defined as a high, potentially becoming a future resistance.

Having said that, if prices break above $44,450, the above probability is ruled out.

 

Points to Remember While identifying a Resistance Line

  1. Resistances are always formed in a dropping market. We should focus on identifying resistances only when markets drop.
  2. Until R1 is intact, prices are expected to print lower lows. Hence significance is of the resistance when markets are dropping.

Steps to Identify Resistances the Right Way

  1. Identify the lowest point in a dropping market. It’s $39,600 on the above chart.
  2. Push your mouse inclined backwards from there and stop at each high defining R1, R2, and so on.
  3. On the above chart, the first high is $52,100 (R1), followed by $60,000 (R2), $66,000 (R3), and $69,000 (R4), respectively.

 

Do It Yourself: Identify Resistances

Support and Resistance
Click the image to view full-size and practice identifying resistances.

 

Rule #4

  1. In a rising market, past resistance can become future support.
  2. In a dropping market, past support can become future resistance.

The above rule helps us determine the entry point in our next technical analysis story: “Trends and Trend Lines”.

 

Summary of Main Points

  1. Supports are formed and are significant in a rising market.
  2. Resistances are formed and are significant in a dropping market.
  3. The bulls score a point after a high and pull back.
  4. After a low, the bears score a point and pull back.
  5. Past support has the potential to become future resistance.
  6. Past resistance has the potential to become future support.

About the author:

Harsh Japee

Disclaimer:

The above references an opinion and is for informational purposes only. Do not take this as personalised financial advice or investment advice. The views expressed by the author do not necessarily represent the opinion of BitPrime.

 

Last updated: 17/02/2022

Reading Time: 5 minutes

What Do People Do With NFTs After Buying Them?

Digital Artist Chris Torres got lucky in 2021 by selling the crypto art that he created, ‘Nyan Cat,’ for a whopping $600,000. Similarly, Twitter CEO Jack Dorsey was able to sell off his first tweet in an auction for an unbelievable amount of $2.5 million.

Elon Musk shared a meme on Twitter as he always does. The creator of the meme listed it as an NFT (non-fungible token), and within two days, the value of the Non-Fungible token reached $20,000.

Digital Creator or Artist Mike Winkelmann could not sell his artwork for more than $100 until 2021. Everything changed beyond his imagination in 2021. He sold an NFT of one of his works for almost $69 million at Christie’s. The auction house now considers him one of the top three living artists. What a strange twist of events?

How did Twitter CEO Jack Dorsey, artist Mike Winkelmann, Chris Torres, or Eva Beylin, creator of the meme shared by Elon Musk, do this? Are you confused and not sure how people are making money this easily? And why is the whole world suddenly revolving around NFTs?

Many people are looking at investing in NFT tokens to earn money, and NFTs have become a buzzword rising in popularity these days. Becoming an NFT creator or an artist seems wise for many digital creators out there.

nyan cat
Nyan Cat

 

What Exactly Is Non-Fungible Token

In a nutshell, it’s a digital token. Before blockchain technology, it was easy to replicate digital assets and distribute them globally without knowing who created them. It was hard for creators to prove their ownership. But blockchain technology gives NFT creators total control of the digital assets they make.

They can prove their ownership with ease. Smart contracts enable NFTs, making it possible to verify ownership. You can say that the digital asset becomes a kind of trading card once you place it on the blockchain.

A digital asset can be anything such as a tweet, digital art, or a text you publish on a website. By creating an NFT, one can prove their ownership of a digital file using the unique code they get. Since this code is distinctive, it differentiates your file from the digital replicas circulating online.

The NFT market is quite lucrative, and everyone wants to get in to make some profit. Though NFTs have been present globally since 2014, they did not receive as much attention before.

 

Benefits of Buying and Owning NFTs

NFTs provide a decentralised certification that makes your digital asset unique. It allows people to have clear ownership of the digital objects they create.

The NFT value changes depending on what people desire to pay for that item. It is secure because the digital artwork or asset you publish has unique data linked with it.

Artists don’t have to depend on auction houses to sell the art they create. Both artists and content creators can now monetise the content they create by creating an NFT. Once listed on an NFT marketplace, anyone can trade, sell or buy NFTs.

Nowadays, some platforms even allow you to use NFTs for gambling and gaming. Others are a means of donating to certain charities such as Digital Charity Art working with marine conservation charities, or Shiba’s Wife, involved with women’s rights issues.

 

How People Make Money from NFT Investments

Like any other investment that people make, such as real estate, cryptocurrencies and fine arts, NFT holders buy a digital asset whose value may change over time.

If the item’s popularity increases, the owner may sell it for a profit. Like any other investment, of course, there is a risk involved with non-fungible tokens.

Token holders may get stuck with the NFT artwork or a digital asset they bought if the item’s desirability declines. Hence, only buying NFTs you’re interested in yourself might be a wise move should no one else wants to buy them from you.

The best part about an NFT is that the creator can get a royalty from the buyer of the NFT. They can claim a percentage of the sale money if the buyer sells the NFT to another person for a higher rate. Usually, artists do not receive anything after selling their product to a person in the real world.

Beeple’s Everydays: The First 5000 Days
Beeple’s Everydays: The First 5000 Days

Copyright Owners and NFTs

NFT ownership is a complex subject. The underlying copyright of creative work does not necessarily transfer automatically to an NFT buyer when purchasing digital assets from the copyright owner.

The NFT owner may choose to retain the underlying copyright of the content even after the transaction. However, since an NFT can have only one owner, owners enjoy exclusive ownership rights.

 

How do People store NFTs After Buying Them?

What would you do if you possessed a physical asset like an artwork such as the Mona Lisa that’s worth a fortune? You’d do everything you could to store it in a secure and foolproof place. The same principle applies when you own NFTs.

Reuters states the NFT market upsurged from $13.7 million to $2.5 billion during the last year. And this may only increase in years to come according to current trends. Currently, the popularity of NFTs is growing with each passing day.

Apart from investors, NFTs have also attracted hackers across the globe. They want to steal digital assets worth thousands of dollars or steal credit card information to purchase NFTs. Last year, hackers stole NFTs worth thousands from Nifty Gateway. The company blamed customers for not using two-factor authentication. Because of this, cyberpunks quickly identified users’ credentials.

If you want to avoid theft of digital assets you own, it’s necessary to store them safely and use additional security measures such as two-factor authentication. If you are not prudent, you risk losing what you own in just a few seconds.

You must understand that, like cryptocurrency, you don’t store NFTs in your wallet. Instead, the wallet grants you access to the blockchain they’re stored on using your key pairs (which are stored in your wallet).

As long as you have digital assets online, there’s a risk of losing them, which is why you should research wallet options before picking the best fit for you.

Love in The Time of Web3
Love in The Time of Web3

Types of Storage Available

Just like cryptocurrencies, you need a secure place to store NFTs. Leaving them in a marketplace (hosted wallet) is not recommended as you expose yourself to hackers and other threats.

The best place to store your NFT is in a non-hosted wallet you retain the private keys to. And there are many options available, including mobile, desktop, hardware devices or browser-based wallets.

 

Hot Storage – Software and Browser-based Wallets

Metamask Wallet

Metamask is a secure software wallet that stores NFTs. Built as a Chrome application, you can encrypt Metamask wallet transactions secure them using a password and a 12 to 24-word backup phrase.

Enjin Wallet

Next in line is Enjin Wallet. Apart from storing crypto, you can also use it to create, distribute and integrate NFTs. Samsung smartphones plan to integrate it as their devices official NFT wallet app.

While software wallets are a good option, one must use them cautiously. Since these wallets are online, there is still scope for hackers to access them if you do not take proper precautions.

 

Cold Storage – Hardware Wallets

The safest storage option is offline; cold storage. By keeping your NFTs in a wallet not continuously connected to the internet, the risk of losing them becomes nearly impossible. You can keep keyloggers and hackers away from your possessions by using this option.

There’s no way someone can steal your NFTs unless they hold the physical device where you stored them or have your backup phrase. You should use 2FA to make your wallet extra secure.

Ledger and Trezor are two of the best hardware wallets in the market and the only two that BitPrime recommends.

bored ape yacht club
Bored Ape Yacht Club is a collection of 10,000 NFTs

 

In Conclusion

Investing in a non-fungible token is a personal decision and has potential risks associated with it. As with any investment, one must do their due diligence and consider all the aspects before purchasing NFTs.

Once you buy one, you must consider storing them in a digital wallet that is safe and secure to prevent hackers from stealing them from you.

It’s then up to you whether you choose to hold on to your new digital collectable or look at flipping it to make a profit from it, potentially.

 


About the author:

Jonas Gihone Akula

Disclaimer:

The above references an opinion and is for informational purposes only. Do not take this as personalised financial advice or investment advice. The views expressed by the author do not necessarily represent the opinion of BitPrime.

 

Last updated: 15/02/2022

Reading Time: 5 minutes

10 Ways You Can Be Involved in the Ethereum Community

Are you looking to get involved in the Ethereum community? Great. Ethereum is a decentralised open-source network, meaning it relies on the knowledge, participation and input of millions of people to stay relevant.

There are no specific qualifications to become part of the Ethereum ecosystem support program. All you need is an interest in the Ethereum blockchain and its use case. This article will show you ten different ways you can be involved in the ethereum community – and you can start right away.

 

Ethereum, Ether, ETH

Before finding yourself a sweet spot in Ethereum’s ecosystem, it helps to know what terms to use. For example, ETH, Ether, and Ethereum have different meanings, often confused. ETH is the abbreviated form of ether, the digital token of the network. Ethereum is the blockchain network that lets you send and receive crypto tokens, mint Non-Fungible Tokens (NFTs), host Dapps (decentralised applications), deploy Smart Contracts and more.

Cryptocurrency/blockchain experience or not, you can become a part of the community and help improve decentralised finance. Your unique experience always counts.

 

The Ethereum Community at a Glance

Inspired by Bitcoin, Vitalik Buterin co-founded Ethereum’s blockchain and the Ethereum Foundation in 2015. Six years later, Ether has become the second-biggest cryptocurrency by market cap. Thanks to an ecosystem of people passionate about improving digital decentralisation, the Ethereum blockchain remains the busiest crypto network with diverse use cases. But it still needs people to help with many different tasks. You may join any Ethereum working group as an individual or register your crypto-related enterprise under the Enterprise Ethereum Alliance.

 

Joining the Ethereum Community With Experience

Suppose you have computer science, cryptography, or blockchain technology experience. In that case, you can benefit from joining the Ethereum community as a developer, a bounty hunter, a researcher or an ETH hackathon participant.

 

 

1. Be a Bug Bounty Hunter

Going bounty hunting is an excellent place to start. Bounty hunters find possible security or functionality loopholes (bugs) in a website or blockchain programme.

Within the Ethereum community, bounty hunting is a lucrative and essential role that keeps operations smooth and ensures transaction security. You’d typically need a decent knowledge of either programming, cybersecurity, or cryptography to hunt bugs. Over $6 million in ERC 20 tokens have been paid to bug hunters so far. That’s an excellent incentive to get started.

 

2. Go for a Hackathon

Hackathon, the developers’ favourite! Finding and attending the next ETH hackathon is one sure way to gain insight into the community’s latest projects. You’ll help solve problems and may win a prize for it. Eth global is the Ethereum community for individuals committed to organising hackathons. You can also check Hackathons New Zealand to keep track of the next hackathon happening.

 

3. Carry Out Ethereum Research

If you are a programmer with roots in academia, this one is for you. The Ethereum community is always looking for researchers to discover ways to improve transaction experiences on the network. There are grants available for anyone willing to take up the task. You can check out Ether research or Ethereum support programs to find the most relevant areas of interest.

 

Joining the Ethereum Community as a Novice

At the other end of the spectrum, where non-programmers live, the Ethereum community also has ways you can take part. You can join the Web3 movement, organise a local meetup, help translate Ethereum, take up projects or simply buy, sell or stake ETH. Here are more details.

 

4. Buy, Sell or Stake Ether.

One way to prove your interest in the Ethereum community is to own some ETH. Depending on the project you join, there may be tasks requiring some ETH to be part of it. Think of it as evidence of your commitment. Also, you can make astonishing profits just by buyingselling, staking, holding or lending your ETH. For your safety, it’s important to note that Ethereum Classic (ETC) and Ethereum max (EMMAX) share no relationship to Ethereum beyond the name. See Bitprime’s guide for setting up your wallet to start transacting with Ethereum.

 

5. Join the Web3 Movement 

The Ethereum Web3 movement is a rapidly growing group of developers committed to teaching about Web3.0. This technology, which is the foundation of crypto, is described as the future of the internet – a place where all websites are decentralised and interconnected, and users have control of their personal data.

The goal of the Web3 community is to make people aware of Web3 benefits and train them to become part of the development process. If this sounds like something you are interested in, you can join Web3Bridge to learn more.

 

6. Run a Node

Another way to find your niche within the community is running a node. The Ethereum network relies on many nodes to confirm smart contracts and meet the demands of its growing users. To set up a node, you’d need to stake 32 ETH and run a suitable device or join a pool if 32 ETH is too much of an investment! Node owners remain key players in the Ethereum supply chain who benefit from the trust and priority given to their transactions. There’s a lot more to read on setting up an Ethereum node.

 

7. Write About Ethereum

The Ethereum community also needs talented writers to take notes during a community meeting or simplify complex content. If this is something you love doing, you could be of great help. Choose to write directly for Ethereum.org or join EthHub to connect with fellow writers who are Ethereum enthusiasts.

 

Ethereum Community

8. Organise or Join a Community Meetup

Organising a local meetup is another sure way to help expand the Ethereum community. Here you could help locals learn how to execute an Ethereum smart contract or discuss the network’s future with ethereum developers. Check out established Ethereum communities or find out how you can begin one.

 

9. Translate Ethereum Into Your Language

If you know a language other than English, the Ethereum community needs you. There are over 2000 people who help translate information to their local language; you could join the Translation Programme too. Some languages have already been fully translated, while others require more contributors.

 

10. Donate to a Good Cause

There are aspects of its transaction fee, security, and DeFi development in which many brilliant developers are working on to improve overall blockchain financial transactions. The Ethereum system has a funding mechanism that supports non-profit solutions that have proven useful called Retroactive Public Goods Funding. You can join the community and support such projects by donating any amount. Check out Gitcoin and clr.fund to see how you can take part.

 

Other Ways to Join

Studies have shown that people with finance or accounting backgrounds find it easier to understand crypto-trading as it’s similar to fiat stock market trading. Here in the Ethereum community, groups of people are working on developing accounting solutions or helping people understand the underlying finance behind digital assets. RotkiDeFiPrime, and DeFi Pulse are some places you can start.

You can also find jobs or join a Decentralized Autonomous Organization (DAO) committed to various types of Ethereum governance you may be interested in.

 

Finding an Ethereum Community Hub Near You

Cryptocurrency NZ is the first place to look to find fellow crypto fans in New Zealand. There are Facebook groups, Reddit threads, Discord channels and regular, in-person meetups happening across the country.

 


About the author:

Kelechi Collins is an experienced crypto writer and a Web3 enthusiast who loves to spread the gospel of decentralisation. When not fiddling with the alphabet, KC loves to make hyper-realistic portraits or sketches of NFTs.

Disclaimer:

The above references an opinion and is for informational purposes only. Do not take this as personalised financial advice or investment advice. The views expressed by the author do not necessarily represent the opinion of BitPrime.

 

Last updated: 08/02/2022

Reading Time: 5 minutes

How Volume, Average Volume and Market Cap Can Help Price Action Traders

Disclaimer:

This article references an opinion and is for informational purposes only. Do not take this as personalised financial advice or investment advice. The views expressed by the author do not necessarily represent the opinion of BitPrime.

Volume, average volume and market cap are helpful tools in price action trading, practised by noted modern-day traders such as William O’Neil and Mark Minervini.

For easy recall, O’Neil is known for CANSLIM (C – current quarterly earnings; A – annual earnings growth; N – New product or service; S – Supply and demand; L – Leader or laggard; I – Institutional sponsorship; M – Market direction) investing methodology.

On the other hand, Mark Minervini has authored acclaimed books such as ‘Trade Like a Stock Market Wizard’.

O’Neil subtly blends key elements of fundamental and technical analyses – two approaches historically used by both short- and long-term investors.

Minervini is better known for ‘volatility contraction’, where the price swing between support and resistance gets progressively narrow until a breakout happens.

As advocated by O’Neil and Minervini, price action traders mainly track price movement to enter and exit trades instead of looking at the fundamental factors driving price or an array of indicators used in technical analysis.

However, diligently using volume – whose variant is average volume – and market capitalisation (market cap) along with essential concepts such as support and resistance, Volume-Weighted Average Price (VWAP) and moving averages (20-day, 50-day, etc.) can help price action traders reach consistency and profitability.

A significant chunk of retail short-term investors seldom appreciate that consistency preludes profitability. Blindly chasing profitability and ignoring consistency in generating returns (however minuscule those may be) – which results from experience, skill, discipline and patience – effectively explains why 96% of retail traders end up making losses.

 

Buy, Sell, Swap Cryptocurrency with BitPrime

Volume Is Crucial

Volume is a key pointer that can help price action traders immensely. Simply put, volume is the number of shares traded in a specific period – hourly, daily, weekly, etc. – depending on the time frame tracked by traders for entering and exiting trades.

Participation by institutional investors is crucial in driving the share price up or down. Active involvement of institutional investors translates into a spike in volume, which, in turn, pushes the price up or down.

Usually, during an uptrend, the price keeps bouncing back from certain resistance levels breaching, which would result in a breakout.

Similarly, during a downtrend, the price keeps hitting certain support levels.

However, a breakout – either upwards or downwards – without significant volume indicates limited participation from institutional investors and hence is likely to fizzle out eventually. Therefore, looking for breakouts supported by significant volume can help traders make winning trades.

Enhanced volume indicates noteworthy events with the coin, such as an impressive earnings release, a good product launch, closure of a loss-making division, resolution of a long-pending legal tussle, etc. That makes traders euphoric about that coin.

Conversely, higher volume can happen on the downside. E.g. aggressive selling resulting from lower-than-expected earnings, an announcement of government regulation hampering a project’s prospects, the sudden demise of someone instrumental in driving the firm’s growth, etc.

Volume can also signal a price reversal. For instance, if the price is trending up, but volume is declining, it reflects the lesser interest among participants to push the price further up, thus pointing to an impending pullback or reversal.

Increasing price movement supported by growing or sustaining volume enhances traders’ conviction to remain in the trade and make more significant returns. The higher volume also provides an opportunity for traders to employ pyramiding and significantly enhance returns.

Pyramiding is making more significant returns by adding to winning positions. For instance, if one wants to buy 1000 shares, they can do so by snapping up lesser quantities of 200 or 300 via multiple entries, thus leveraging the sustained price movement but escaping the chances of being battered by sudden drawdowns.

 

Average Volume Helps Avoid Volatility

The average volume is the cumulative volume in a certain period divided by the number of bars or units of time in the period. For instance, if one is tracking daily candlesticks,  then a month’s average volume would be the total volume that month divided by the number of days in the month. A stock with high average volume points to significant liquidity. That is, traders would be able to enter and exit trades instantly, which would help avoid slippage.

Slippage happens when traders get a different trade execution price than what they are looking for.

On the other hand, low average volume can lead to enhanced volatility. That is, a limited number of orders placed at different intervals may result in significant price movements when executed.

While volatility helps participants make winning trades, excessive fluctuations can be detrimental. Tracking average volume can help avoid making trades in excessively volatile stocks.

In essence, lower average volume reflects a diminished interest of participants in a particular coin, resulting in narrow price movements which are difficult to be traded.

Therefore, professional traders prefer periods when the volume is high and coins with higher average volume to capture higher price movements and better returns.

 

volume, average volume and market cap
The top five cryptocurrencies by market cap as of 14:55 04/02/22. Source: CoinMarketCap.com

Large Market Cap Means Liquidity

Market cap indicates the cumulative market value of a cryptocurrency. It is calculated by multiplying the price of a single coin by the circulating supply.

For example, a cryptocurrency with 50,000 circulating coins at USD 10 each will have a market cap of USD 500,000.

Coins with a market cap over USD 500 million bears a ‘large cap’ tag, while those between USD 100 million to USD 500 million are mid-cap. Under USD 5 million could be considered a small-cap. The “exact” cut-off depends on the analyst.

Cryptoassets with a large market cap offer ample liquidity. Investors looking for liquidity prefer to pick coins with a higher market cap which excludes unminted coins, measuring only those available for trading in the market.

Higher liquidity allows investors to enter and exit trades faster. Lower liquidity, on the contrary, results in enhanced volatility which hampers traders’ ability to execute trades at specific price levels.

Market cap indicates how the market values cryptocurrency. Small-cap coins are at the early stages of their growth and may have greater potential for generating robust returns though they are saddled with enhanced risk. On the other hand, large-cap coins may promise less growth potential but have longer track records and added liquidity.

 

Summary

Thus, blending the signals from the volume, average volume, and market cap of a coin can be a prudent way to minimise excess volatility and limited liquidity, both of which can hamper traders from making consistent returns.


About the author:

Jojo Kalimuttam is a writer who avidly tracks cryptocurrencies, technology, the startup ecosystem and the broader financial markets. When he is not jogging as a means of unwinding, he enjoys listening to Beethoven, Yanni and Dirty Loops.

Disclaimer:

The above references an opinion and is for informational purposes only. Do not take this as personalised financial advice or investment advice. The views expressed by the author do not necessarily represent the opinion of BitPrime.

 

Last updated: 04/02/2022

job scam main image
Reading Time: 4 minutes

Employment Scams, What To Look Out For And How To Avoid Them.

Ever since people have had money, there have been those that have tried to scam them out of it.  The only thing that’s changed is that now scams have moved online, and with the popularity of cryptocurrency, it’s more important than ever for people to remain vigilant.

 

cryptocurrency job scams

What Are the Signs to Look Out for?

Unlike many scams, employment fraud can be used to steal more than just a person’s money.  In some cases, job seekers can find themselves the victims of identity theft after inadvertently giving would-be employers their email and bank account details.  Other times they’ll be required to pay a fee to start working, be asked to send or receive mysterious packages, or withdraw and deposit large amounts of money (a form of money laundering).  All of these are red flags that indicate employment scams are taking place.

While it’s true that starting at a new job requires you to give out some of this information to your employer, they’re given after the job’s secured.   If you find that they want any of upfront before you’re even offered the position, then in all probability, the position’s fraudulent.

 

What Are the Different Types of Cryptocurrency Job Scams?

1. Work From Home

There’s always been a certain appeal from working from home.  With the rise of Covid-19, that appeal has only grown over time.  These can be difficult to spot as there are several types of this job scam around. Learn more here.

2. Email

Some scammers send emails claiming that you’re the perfect candidate for the position they urgently need to fill. Still, before proceeding, they need personal information like bank accounts, emails, and perhaps your driver’s license.  This information can then be used to commit identity theft.  If hours seem too flexible, the pay seems too high, and they offer you the position straight away, in likelihood it isn’t real.

3. Job Boards

While popular job search sites like Seek or Indeed are legitimate and (for the most part) reliable sources for finding work, sometimes bogus job adverts make it onto their websites posing as the real thing.  In one example, job hunters in Western Australia reported receiving emails advertising jobs and encouraging them to click a link that took them to a fake website that asked them to give out personal information.

4. Social Media

With social media now playing a more significant part in our everyday lives, scammers have inevitably begun targeting sites like Facebook, Instagram, and Twitter to take advantage of vulnerable people.  Despite doing their best to filter out the genuine offers from the fakes, these fake job offers still find their way onto sites like these.

5. Government Positions

This is where scammers offer a position in a governmental department; this can be very difficult to detect since the bogus websites they send you look authentic. Fortunately, there are telltale signs that it’s a scam. If they ask you to put down money for either the job or any training, chances are you’re dealing with a fraud. No government institution should ask you to pay them in exchange for employment.

6. Fake URL’S

Often, fraudsters will create fake websites that strongly resemble legitimate ones to trick people into divulging personal information.  Like some other scams, its primary goal is to profit from identity fraud.

 

How Often Do People Fall Victim to Cryptocurrency Job Scams?

Each year tens of thousands of New Zealanders are scammed, and it’s estimated that scammers target one in ten people.  From October 2021 to March 2021, an estimated 7,000 people reported losses of an excess of $80,000,000 due to cryptocurrency scams, according to the Federal Trade Commission (FTC).

Last year the BNZ reported that one in three Kiwi’s under the age of 44 will be targeted by a cryptocurrency scam at some point.  It was also reported that an average of NZ 1,638 was stolen during the last lockdown.  However, those numbers could be much higher as some victims are too ashamed to come forward.

In that same year, the FBI’s Internet Crime Complaint Center reported that 16,012 people said they had been scammed online and that their monetary losses resulted in 59 million (NZD 87,309,675.

 

Summary

Please stay safe whenever job hunting; there are many excellent opportunities out there, but it’s essential to keep your guard up.  The onus is on you, the job seeker, to do your research, check, and re-check any vacancy, and if at any stage during the application process you feel uncomfortable, don’t hesitate to back out.

As for other common crypto scam types, we have articles on romance scams, crypto recovery scams, ICO scams, and trader bot scams.

If you think that you or someone you know may be a victim of a scam, check out our comprehensive guide which covers how to report scams in New Zealand as well as where to find support.

As for keeping your cryptocurrency wallet safe, never give out your private key or passwords. For more, check out our crypto wallet security tips.

 


About the author:

Kerry Lee

Disclaimer:

The above references an opinion and is for informational purposes only. Do not take this as personalised financial advice or investment advice. The views expressed by the author do not necessarily represent the opinion of BitPrime.

 

Last updated: 28/01/2022

Romance Scams
Reading Time: 10 minutes

Crypto Romance Scams: Red Flags, Signs, and Clues

Love is in the air! Or so you might think if you’re a cryptocurrency fanatic.

Crypto romance scams are rising, and perpetrators are using crypto to lure their victims. These scammers exploit emotional appeals to lure their victims into transferring money or digital assets. But don’t worry – with a bit of knowledge and caution, you can protect yourself from these malicious schemes.

So, what are the red flags to watch out for? What signs and clues might help you spot a scammer before it’s too late?

With Valentine’s Day right around the corner, now is an excellent time to learn more concerning crypto romance scams before they steal your heart and your wallet!

The crypto world can be a breeding ground for romance scams. After all, it’s a place where people can be pseudonymous and where trust is often built on digital relationships. This makes it the perfect environment for scammers wanting to take advantage of unsuspecting victims.

 

What Is A Crypto Romance Scam?

Crypto romance scams are when criminals use a hoax or identity fraud to win your affection and trust. They then manipulate you into believing they have feelings for you before taking advantage of your vulnerability by stealing money or goods or by requesting you to send them money.

The con artists involved will seem like someone worth investing time into because they have done everything right, like sending flowers on your birthday or meeting your family members virtually over tea. However, there’s no such thing as true romance here: they only prey upon people emotionally until getting what they want.

“Romance scams cost consumers a record $304 million as more people searched for love online during the pandemic. As [the] pandemic pushed people to spend more time online, criminals targeted people on dating apps and social media platforms, especially older Americans. Adults 60 and older lost $139 million to romance scams in 2020, the FTC says.” Michelle Singletary, Washington Post.

Scammers are so charming. They’re masters at establishing trust fast. They’ll say anything to get you in their clutches, but deep down inside them, it is just a heart full of lies. These con artists will advance marriage proposals or organise ways to meet up face-to-face only after requesting cash, cryptocurrency or other valuables like jewellery – not before. Sometimes they’ll seek financial assistance for a family emergency or unexpected legal fee with the promise of sending the money back soon after – never delivered on any account.

Scammers used physical mail or phone calls to con their victims in the past. But with technology moving at such a rapid pace and online dating becoming more commonplace than ever before, they’re using these platforms as vehicles for finding potential marks.

They’ll often create an attractive fake profile to lure people into thinking that this could be “the one.” Once you’ve been hooked by what seems like genuine interest from your date, they’ll start asking about you transferring fiat money or cryptocurrency to them. There’s always something fishy going on.

The Federal Trade Commission has seen an increase in romance scams over the last three years, with people losing more money on them than any other fraud reported. These dating app-focused schemes increased among all age groups and reached USD304 million in 2019 alone – a 50% rise from previous years.

 

Are they just an outright scam?

So, How Do You Avoid Being Scammed? The Red Flags to Look Out For!

1. “Trusted” Profiles

They say that love is a game of cat and mouse, but this goes double when you’re the one who’s being pursued.

What happens?

You fall for their tricks. Crypto romance scammers will create multiple profiles on different sites using stolen images, and it doesn’t take long before they find someone willing to be caught up in their scheme.

Scammers use catfishing techniques to make their victims trust them and steal information or funds from you. They may pose as medical professionals, aid workers, or even military personnel who seem trustworthy enough for your loved one’s sake.

Always ensure you have the correct details of the person you’re dating online. With that, you won’t be so bothered if they don’t show up for a date or turn it down at the last minute. Google them, look up online phone directories, reverse image search (here’s Google’s guide on this)! The Washington Post has a good guide on spotting photoshopped images too.

Another tell-tale sign that someone might not be who they say they are is poor English. Scammers often pretend to come from somewhere other than where their accent indicates. For example, an American claims he’s British but doesn’t know much about the local culture.

But there are ways around these tricks: just out-clever them by learning facts, specifically nearby places (or countries); ask them questions regarding things such as current events – they’ll get stuck sooner than later.

 

2. They Hook You with Some Common Interests

Scammers are always one step ahead of you. They know what to say and how much information is enough for them. So they can start a conversation with anyone without having met before. Once their target opens up about themselves (especially on hobbies, work, or religion), it’s game over.

These criminals will use details revealed in conversation as ammunition against your defences later down the line when you’re trying to convince others that they’ve been trustworthy – all the while steadily progressing towards achieving their goal: snatching dollars outta ya.

The era of senior romance fraud is alive and well. In 2020, scammers targeted older adults (aged 60+) with over USD139 million in scams – 65% greater than 2019’s losses, nearly USD84 million. This report released by the Federal Trade Commission indicates that these criminals are targeting their victims through online dating sites or social media groups since pandemic solitude drove many individuals online in pursuit of love and affection.

 

3. They Become Overly Emotional Very Quickly

The fake relationship is quick-paced and intense. It’s like existing in a race against time, always attempting to win ground before your opponent.

Romance scammers are go-getters to the extent that if they meet potential victims who may be more cautious than themself, they may try to win their trust by employing tricks. One common trick is to intentionally send small amounts of money, gifts, or crypto to their victims to nurture a breeding ground for their scam.

The dating world is a tricky one. It’s easy to get seized by the moment and start chatting with someone who seems like your perfect match, but it can also lead you down an unpleasant path of manipulation.

So many times, scammers will shower their victim’s romantic affection every minute, messaging them constantly until they feel lovesick enough that they cave in to whatever demands they make on their time (or lives).

 

4. Asking for Money

Do you know those people who always ask for small amounts of money to fix their car? Well, this often starts very innocently. Romance scammers will begin similarly. But then it quickly ramps up from there. A common way these perpetrators happen upon targeting someone is by setting out on an adventure-filled trip where they claim to need financial assistance with expenses like flights or other travel costs necessary before visiting “family.”

The romance scammer will often ask for money, sometimes sent via Western Union. They may claim medical costs or any other excuse and use urgency as their argument when requesting funds from you, often claiming that if they don’t receive the payment immediately, something terrible might happen.

One American woman recently fell victim this way with USD260k worth of requests made on her Skype account alone after meeting what seemed like an ideal match online.

In a bid to nab these perpetrators, Western Union has taken a new stance on the issue of money transfers. They’ve been held accountable by regulatory bodies, which means they must be stricter with those using their services.

However, this doesn’t mean you should send your personal details out blindly without thinking hard about who will receive them. Always do some research before sending any sensitive data online, or better yet, don’t send any.

 

5. Asking You To Do Suspicious Activities

Romance scammers are experts at tricks and schemes to steal money, goods, or life. One British woman named Sharon Armstrong learned she had been duped when the dating site she met someone on ended up sending police because they thought their client might be transporting drugs across countries!

There’s no telling what these criminals will ask you do.

The best way around this?

Don’t fall victim; always stay alert wherever online conversations take place.

Suppose someone asks you to do something suspicious, like send or receive money for them on behalf of an unknown person. It’s probably not legitimate. But if you have to do it, do your due diligence to know the intentions behind who is asking before you complete any agreement.

 

6. Introducing You to Relatives, Business Partners, etc.

Scammers are clever, creative people with oily palms who stop at nothing. They’re often organised in groups or posing as different characters to get their hooks into you early on so they can use your trust for personal gain later down the line. And this often happens too soon after meeting someone. Be aware of other people they introduce you to. It might just be another con job waiting around every corner.

 

7. Making Broken Promises

The romance scammer is always good at making promises and having excuses for not following through. They can be so elaborate that it seems believable, which leads them to ask for more from you.

The scammers are skilled at baiting their victims with promises of visits from loved ones, only to dash those hopes when they don’t show up. They might give an excuse like not having enough money for a passport or ticket – but most importantly, it’s all about making you feel desperate enough that sending more cash won’t matter.

Covid-19 was the perfect cover for predators trying to scam others. Before, schemers had all manner of excuses not to meet up in person. Those cancellations could alert some folks of dangers awaiting them, but then there came the pandemic, which gave scammers ample reason why social distancing guidelines should keep these relationships online only.

 

What Signs Should You Be Aware of Concerning Crypto Romance Scams?

When it comes to crypto romance scams, there are a few key signs that you should be aware of.

  • Sense of Urgency: Fraudsters will usually try to create a sense of urgency to get you to act fast. They might tell you they need money for an emergency or need to transfer their crypto assets out of the country quickly.
  • Lavish Promises: Fraudsters will usually promise their victims love and happiness – things that are hard to resist.
  • Endless Need of Money: The fraudsters might be asking for more money than you would typically expect for the reason they’ve given. If you fail to send money immediately, calls and messages become direct, persistent, or desperate.
  • Conflicting Stories of Sudden Changes in Behavior: If something doesn’t seem right, it probably isn’t. Trust your gut instinct. If something feels too good to be true, it might be – so be careful.
  • Baseless Explanations: Be extra vigilant about the reasons why someone is asking for personal information like BitPrime account details, bank account details, and email account passwords. NEVER give these details out.

 

What Clues/Pointers Should You Be Aware of Concerning Crypto Romance Scams?

Online dating scams are a real problem. Scammers are getting more and more sophisticated. Many people fall for the trap of romance scammers, and this can have devastating consequences in their lives.

Scammers aren’t just preying on lonely old ladies looking for love online anymore. They’re coming after you too. If you’ve been using online dating sites or apps like Tinder, Bumble, and OkCupid to find your soulmate, you need to be aware that there are many scammers out there waiting to rob you blind or in broad daylight.

You can prevent crypto romance scams from affecting you by identifying the clues that indicate whether your new friend is fake or not. These scams are becoming increasingly common in the crypto community because scammers know how much money people have made from cryptocurrencies lately.

We’ll teach you what clues to look out for so that you don’t get caught up in one of these scams.

  • Keep Your Profile Anonymous:

    It’s essential to be careful when sharing personal information with people you don’t know. Reports have shown scammers are explicitly looking for webcam footage of a private nature as blackmail material against potential victims.

  • Due Diligence:

    The risks of cryptocurrency investment are high, so don’t invest money you can’t afford to lose. You should also never base decisions on what someone says in an internet chat room or message board. Always do your research and remember this is real life.

  • Authenticate the Source of Their Profile Pictures:

    Be sure to do a Google Image search on the photos provided (previously mentioned above). Scammers are known for using fake images, so make sure you look at what belongs in this instance.

  • Think Twice:

    Identity theft is a huge problem, with the FBI estimating that over 16 million people have been victims in just one year. The organisation goes as far as to advise that you should never send money to someone you’ve met online, primarily via wire transfer, money order, global funds transfer or crypto. The agency further advises consumers not to share credit card numbers or bank account information, which could give access to financial accounts.

  • Change of Platforms:

    Online dating is a great way to find someone with whom you share common interests and values. But what if an admirer asks for personal communication outside of the website? That could be a sign that they’re trying hard not to get caught. So watch out! And remember, in-person meetings should take place at public places where there are plenty of people around who don’t know about your relationship yet, or else it might end up being more than just business meetings between the two of you.

  • Alert Authorities:

    Some scammers out there are trying to steal your money by claiming they need access to your accounts for fraud detection. Don’t fall victim. If you think this has happened, contact your bank immediately so it can be blocked from accessing any funds on the account before making a withdrawal or sending payments. If someone calls asking about security precautions when handling credit card numbers over phone lines, then beware, as most likely, they’re not really from your bank!

 

What Action to Take If You Fall Prey to Crypto Romance Scam

Take these steps to protect yourself from confidence scams and romance fraud.

BitPrime has crime-fighting tips for innocent victims. It recommends reporting:

  • Any instances where you’ve been taken advantage of or scammed by someone who claims they love, support & trust in you but is only looking at your money (or valuables).
  • Alert the fraud to website administrators where the connection first occurred.
  • Inform the police on 111 for emergencies or 105 for non-emergencies.
  • Inform your financial institution if you suspect any fraudulent activity
  • Change passwords to your BitPrime account, internet banking, and email account to a strong, unique one.
  • Share the experience with a trusted friend or family member – a problem shared is a problem halved.
  • However, if you have any questions or concerns regarding crypto-related scams, feel free to contact us at fraud@bitprime.co.nz for a confidential discussion.

 

The Wrap-Up

Crypto Romance Scams are a real thing. Don’t let the fact that you’re hearing about it for the first time make you think they don’t exist.

We want to help keep your heart from being broken; that’s why you should learn what to avoid. It is not difficult to avoid being scammed when you know the red flags, signs, and clues that signal a potential scam. The more informed you are about what to look for in your dating life, the better off you will be.

Keep these points in mind next time you’re searching for love online. And now that you know, there’s no need for any more scams. Stay safe out there this Valentine’s Day by following these simple guidelines.

Happy hunting in your endeavour to find a sweetheart that will never run off with your money.

 


About the author:

Verolian Opiyo is a force to be reckoned with. He’s an irreverent copywriter, an avid technology fan and a Climate Change enthusiast. Verolian is on a mission to stamp out gobbledygook and make boring business blogs sparkle. When he’s not busy making the world a more readable place, he enjoys spending time penning down climate issues on his blog Greenvoz.com.

Disclaimer:

The above references an opinion and is for informational purposes only. Do not take this as personalised financial advice or investment advice. The views expressed by the author do not necessarily represent the opinion of BitPrime.

Last updated: 26/01/2022

erc-20-compatible-wallets
Reading Time: 5 minutes

Best ERC-20 Compatible Wallet Options

In a rapidly expanding blockchain technology world, ERC-20 tokens are not slowing down. As of January 13, 2022, there are 486,617 tokens on the Ethereum blockchain, according to the list provided by Etherscan.

In this article, we will highlight some of the best ERC-20 compatible wallets. Before then, it is necessary to have a foundation for these terms.

 

What Is ERC-20?

ERC-20 is an approved framework for proposing Ethereum (ETH) network improvements. The framework determines the rules that all ERC-20 tokens should follow before running on the blockchain. “20” is the proposal identifier, while “ERC” stands for “Ethereum Request for Comment.”

 

What Are ERC-20 tokens?

ERC-20 tokens are blockchain-based assets that hold value, are created, stored and hosted on the Ethereum blockchain. These tokens are like every other blockchain asset except that they run on the Ethereum network rather than a new blockchain system. They are also sent, received and used for transactions via Ethereum addresses. To conduct such transactions, a “gas fee” is required to cover the cost of computational resources used.

Popular ERC-20 tokens are Tether (USDT), USD Coin (USDC), Tron (TRX), Fantom Token (FTM), Binance Coin (BNB), and many more.

However, you can only purchase, store, send, and receive these ERC-20 standard tokens into a compatible wallet. While many wallets are available, not all of them are compatible with ERC-20 or guarantee the safety of your assets. Here are some of the best ERC-20 compatible wallets handpicked by the BitPrime team.

Best ERC-20 compatible wallets

 

ERC-20 Compatible Wallets

metamask logo

1. MetaMask

MetaMask is undoubtedly one of the most popular ERC-20 wallets because of its simplicity and device compatibility. Metamask is available for Chrome, Firefox, Edge, and Brave as a browser extension. It’s also available as a mobile wallet for iOS and Android users.

In addition to storing, sending, and managing your ERC-20 tokens, you can smoothly switch between MetaMask network browsers and the Ethereum network. You can also access Ethereum DApps and smart contracts securely.

 

atomic_wallet_logo

2. Atomic Wallet

Atomic Wallet is a non-custodial cryptocurrency wallet that supports all ERC-20 tokens and is entirely free to use. It works with various operating systems, including macOS, Windows, Linux, Android, and iOS. The wallet’s most exciting and well-known function is inbuilt trading. The Atomic wallet’s user interface is also straightforward.

 

3. Trust Wallet

A purely mobile wallet, Trust Wallet supports Ethereum coins and all ERC-20 tokens created on the Ethereum blockchain. The security keys are stored on your device to provide an extra layer of security against hacking attempts or forgetfulness. Your data remains private to keep you anonymous. You can download Trust Wallet from Google Play or the iOS App Store.

 

4. MyEtherWallet

MyEtherWallet is an Ethereum-based blockchain wallet renowned for securely holding Ether and other ERC-20 tokens. Using this web-based wallet, you can access the Ethereum blockchain.

Its distinguishing feature is the compatibility with hardware wallets like the Ledger Nano S. Offline transactions are possible with this functionality.

Although the user interface of MyEtherWallet is relatively user-friendly and enables token conversion via swapping, it’s recommended for crypto experts rather than newbies.

 

coinomi wallet

5. Coinomi

Coinomi supports more than 17,000 digital assets, including all ERC-20 tokens. It is one of the oldest crypto wallets on the market. Like Trust Wallet, private keys are saved on the user’s mobile device rather than Coinomi servers.

You create a password requested every time you open Coinomi. If you lose the password, enter the recovery seed phrase instead, and it will instantly restore your wallet. The password creates an extra security layer. Coinomi supports Windows, Mac OS X, and Linux.

 

ledger wallet logo

6. Ledger

Ledger hardware wallet owns up to its reputation with a bold slogan of “it’s your money, own it”. Both wallets from Ledger – Nano S and Nano X are famous for their advanced security and compatibility. They support more than 1,800 coins and tokens – including the ERC-20 ones.

While both wallets offer security and compatibility, there are noticeable differences.

  • Like cold wallets, private keys are stored on the chip of both hardware wallets giving an enhanced form of security. In addition, both wallets use tamper-proof secure element (SE) chips and a custom operating system known as BOLOS.
  • Nano X has a bigger size and weighs more than Nano S. However, this increase in size offers users higher screen resolution, ease of use and larger buttons.
  • Both wallets support over 1,800 coins and tokens. Nano S users can use three apps simultaneously (uninstalling & installing as needed), whereas Nano X offers up to 100 crypto applications.
  • Nano X offers a longer-lasting battery compared to Nano S.
  • In addition to the highlighted differences, Nano X supports desktop, iOS and Android. It also costs double the price of Nano S, which only supports iOS in consultation mode via Ledger Live.

 

exodus-wallet-logo-1

7. Exodus

Exodus boasts of supporting over 150 cryptocurrency assets, including ERC-20 tokens. The wallet can be downloaded as an application for Android, iOS, Linux, Mac and Windows users. Exodus is very easy to set up and offers responsive customer service. Exodus offers password and biometric fingerprint 2FA.

 

Other ERC-20 Compatible Wallets Are:

  • Enjin wallet – available on iOS and Android.
  • O3 wallet – available on Android, iOS, Mac OS X, and Windows.
  • Coinbase wallet – available on Android, iOS and Chrome.
  • imToken – available on Android and iOS.
  • Pillar – available on iOS and Android.

 

Which Is Better: Hardware, Software, Hot (Online) or Cold (Offline) Wallets?

Different types of ERC-20 compatible wallets have been outlined above. At this point, you might be thinking – which wallet type is better? Here’s what you should know.

Proper cold storage (aka paper wallet) is an offline cryptocurrency wallet. While setting up the wallet, users print out a QR code of the wallet’s private key. Since it is entirely offline, a cold wallet is the most secure. However, they’re more complicated and intended for long term storage.

A hardware wallet is similar to a cold wallet in being predominantly offline; they’re secure physical USB devices that store private keys. You must connect a hardware wallet device via a computer or mobile to enable transactions. Both Ledger wallet and Trezor wallet devices are great examples.

A software wallet (aka hot wallet) is an application installed onto a mobile device or a desktop. The application stores a user’s private keys and uses an internet connection to track and access cryptocurrencies. Examples are Exodus, MetaMask and Coinomi.

A hosted wallet is those used on an exchange platform. Bear in mind, the exchange platform controls and keeps your private key, so they’re most susceptible to hacking.

Choosing a preferred wallet is dependent on three criteria – security, compatibility and mobility. While all the wallets outlined in this article are compatible with ERC-20 tokens, some are more secure and mobile than others. While making your choice for a wallet, consider these criteria before trading or storing ERC-20 tokens or other cryptocurrencies.

For a more in-depth guide to the different crypto wallet options and how to choose which is the best type for you, refer to our Beginners cryptocurrency wallet guide.


About the author:

Olaniyi is a freelance finance & business writer experienced in writing about cryptocurrencies & NFTs, personal finance, entrepreneurship & small businesses, stock market & investing. You’ll find him on LinkedIn.

Disclaimer:

The above references an opinion and is for informational purposes only. Do not take this as personalised financial advice or investment advice. The views expressed by the author do not necessarily represent the opinion of BitPrime.

We are Off now.

We are launching The BitPrime Supporters Initiative. Learn more here.

0

Your Cart