In the past month, 15.5% of all Bitcoin wallets slumped into an unrealised loss as the cryptocurrency dropped to the $31,000 level. 

Glassnode analysts noted that this sudden flurry of “urgent transactions” amid the latest Bitcoin sell-off, which saw investors pay higher fees, indicates that they were willing to pay a premium to speed up transaction times. Over the last week, the total value of all on-chain transaction fees hit 3.07 Bitcoin. To date, this is the largest recorded in its dataset. 

Glassnode’s report noted that “the dominance of on-chain transaction fees associated with exchange deposits also signalled urgency,” a point which further supports the argument that Bitcoin investors were seeking to de-risk, sell, or add collateral to their margin positions amid recent volatility for the market. 

Over $3.15 billion in value moved into or out of exchanges during last week’s sell-off. This is the largest sum since the market reached its $69,000 peak in November 2021. 

On Wednesday, the Federal Reserve upped its benchmark interest rate by half a percentage point. Additional interest rate hikes, as well as tightening of monetary policy, have exacerbated fears that the US economy could enter into a recession.

“The market still needs to digest the impact of tighter monetary policy on all risk assets and crypto might take a hit as correlations [with US stocks increase]”, said Josh Lim, head of derivatives of New York-based brokerage Genesis Global Trading.

On Friday, Bitcoin was down less than 1% at $35,900.25, according to Coin Metrics. Meanwhile, Ether was down 1.1%. 

The crypto sale was sparked by a difficult Thursday on Wall Street where the Dow Jones Industrial Average lost over 1000 points. Nasdaq also fell 5%. The losses of each marked the worst single-day decline since 2020.  

Signs Of Increasing Acceptance For Crypto

But, in March this year, Goldman Sachs became the first major US bank to trade crypto over the counter. In a historic move, the bank traded a non-deliverable option with crypto merchant bank Galaxy Digital. Also in March, President Biden signed an Executive Order named Ensuring Responsible Development of Digital Assets. In a surprise move, Senator Elizabeth Warren even told reporter Chuck Todd on Meet the Press that the US should create a central bank digital currency (CBDC), also noting that crypto will need to be regulated - to avoid repeats of events such as the subprime mortgage crisis. These steps followed JP Morgan setting a similar milestone in February, by entering the Metaverse.  While up to now most of the crypto activity has been dominated by pure crypto players like Coinbase, Paxos and Grayscale, with the recent flurry of activity many previously cynical financial services decision-makers are sitting up, and wondering if there is more to this crypto thing than they originally thought possible. Some are even playing catch-up as to what crypto even is. 

Crypto Caution

Nevertheless, even with Presidential engagement, cryptocurrencies are still viewed as the Wild West and, to some extent, in the current state of play, rightly so. They can certainly be dangerous for rookie investors, with new types of cryptocurrencies or tokens fluctuating wildly, from soaring highs to collapse. Even those that are more established, with Bitcoin as the prime example, are volatile assets, subject to jaw-dropping swings in value. References and preferences by famous people can impact it massively. There are also fears about security and that crypto is used to facilitate terrorism and crime.

The cryptocurrency “movement” and blockchain generally were born of striving for better – a wish for a new way to do things.  And it is a technology that has huge potential for decreasing friction, improving transparency, decentralisation and, ironically, for building more trust. The way most banks still operate is no longer fit for purpose.

In the short attention span landscape we now operate in, three to five business days for funds to clear is increasingly perceived as inappropriate and unacceptable by customers and they’re increasingly unwilling to tolerate paying hefty amounts with apparently foggy fee structures for a snail’s pace service in terms of payments, international transfers and so on. It's the consumer who suffers and pays for inefficiencies that seem prehistoric in today’s fast-moving environment.

And then are those that are underbanked or entirely unbanked.  Many millions of people across the globe are denied access to financial services entirely. Even in America and Europe, where there’s a bank on every corner, still today we see that without tax returns, a permanent address or access to a physical branch, gaining loans or just opening a bank account, remains difficult or entirely out of reach for many. In developing countries, the problem is far worse - huge. Cryptocurrency has the potential to address this imbalance.

However, and here we come full circle, cryptocurrencies suffer from a reputation problem, in a way that banks don’t. And crypto can’t get the buy-in it would need from the wider population outside its early-adopter fan base that it would need.  Older people, in particular, are likely to baulk at using them.

Is Crypto Dangerous?

It’s not actually true that cryptocurrency is fundamentally unsafe. Its underlying technology is, in fact, far more stable and transparent than that of many mainstream banks, which themselves have some fairly unstable, outdated technology.  Bitcoin, as an example, has never been hacked, while many mainstream banks have lost the data of millions and suffered breaches that have compromised the privacy of their customers. Decentralised finance holds rich promise - if it works hand in hand with more trusted financial brands and within the established systems.

The Benefits Of Crypto

While some Bitcoin pioneers don’t want banks to have any role in the financial systems of tomorrow and linked the technology to an idealistic ideology, most people just care about transaction speed: how easy that transaction is to make, that it doesn’t cost too much, and that it is safe. Banks working with cryptocurrencies can deliver that. The technology is a game-changer, but to truly deliver, it will have to integrate with mainstream banking systems.   

What’s in it for banks is simple. Banks hate losing customers, especially en masse.  And lots of customers are looking in the crypto direction. If customers are wealthy and want a fully diversified portfolio for the best returns on investment, they likely aren’t going to want to miss out on the crypto potential.  Likewise, if bank customers want to interact in the metaverse, it can’t be done without a crypto wallet, which currently their bank isn’t offering.

If you’re working in America and sending money home to family in another country, you don’t want to be charged 20% and upwards to transfer that money. Likewise, financial institutions are paying through the nose transferring money cross-border. Each transaction can go through several different banks and different gateways using the labyrinthine and only partially-automated and costly SWIFT system. Crypto can make the process faster and exponentially cheaper. Funds can be used to buy Crypto, transferred via a digital wallet and exchanged at the other end for a different currency. It’s like the difference between queuing on the highway for the toll gate or using an electronic pass on a tag in the window - a digital highway.

How Banks Can Keep Up With Crypto

 Banks will increasingly need to create and offer infrastructure for cryptocurrency so that they keep hold of clients.. Say an institutional client or wealthy client has 100 million in a bank and wants a 20 million direct exposure to crypto - right now they couldn’t do it through a mainstream bank as no banks offer that service.  So that customer now would have to take their 20 million and open an account at Coinbase. Money is walking.  Coinbase has a 98 million customer base - larger than that of JP Morgan, which has been in business for over 150 years. 

Banks need to at the very least start offering custody, key management and digital wallets. As brands outside of banking look to transact in e-commerce, NFTs and cryptocurrency in a more efficient way, there is an opportunity for banks to enable them to set up their accounts that could also be housed at a bank.

Going forward banks may extend into crypto investment and the areas of staking, liquidity pools and Defi as they grow in size and importance to the marketplace. Crypto mortgages for the metaverse are a big opportunity for banks.  Such mortgages are already available elsewhere.

Banking is becoming an ambiguous term, as many new players such as Walmart come on board. There used to be lines drawn around areas of finance.  Not so long ago, asset management was doing investments and managing people's money and banks were doing payments. Fast forward to today and the lines are blurred - there's no distinction anymore. Now banks are doing asset management, investment management, and payments. Tech companies are doing payments. And Walmart is doing mortgages. And fintech is doing asset management and old established banks are doing fintech.  Banks need to stay relevant.

Final Thoughts

Look at the landscape in the mid-nineties. Some said you’ll be able to make calls via the internet, and they’ll be free. But that seemed decades off.  Look at contactless payments, and voice recognition.  All these seemed very new one day and shortly after, just the way we do things.

Regulation is on its way and this - along with the rise of the metaverse, with its huge appeal to the mass market - will bring down the final barrier to crypto’s natural place at the heart of an evolving financial ecosystem.

Cryptocurrency will become mainstream, and sooner than many think. 

About the author: David Donovan is EVP, Financial Services, Americas at Publicis Sapient.  

Gemini’s survey of 2,300 people in the UK found 18% had some type of cryptocurrency investment, with nearly half  (45%) investing for the first time last year.

The research suggests a significant jump in crypto ownership across the past 12 months, with research from the Financial Conduct Authority (FCA) estimating that just 3.9% to 4.4% of Brits had invested in the asset last year. This jump coincides with a rally for the market, with Bitcoin reaching an all-time high of over $68,000 in November 2021.

In a comment, Gemini’s UK boss Blair Halliday said, “2021 was transformational for UK cryptocurrency ownership. Confidence in and awareness of crypto has increased dramatically.”

“We believe education is the key to enabling wider audiences to safely access and capitalise on the immense opportunities that crypto represents.”

Furthermore, an ever-increasing number of people within the US are opting to be paid in Bitcoin for their day job, many of them high profile sports stars and politicians. Although this increasingly common usage is not to suggest that the US will ever completely abandon the dollar in favour of Bitcoin or other cryptocurrencies.   

Current Global Examples Of Bitcoin Use

A specific current case of money being transferred internationally in Bitcoin and other cryptocurrencies from America (and from many other countries) can be seen in the enormous flow of digital funds as donations into Ukraine, completely legally.  

To date only one country has wholeheartedly adopted Bitcoin as its everyday currency, El Salvador introducing it in July 2021 and encouraging the population to embrace a move to crypto away from the US dollar, which remains legal tender. Commentators are treating El Salvador as an exemplary case, but it seems reasonable to expect other countries with low GDPs to follow suit.

CBDCs

One idea currently under discussion within many countries, with regard to the adoption of digital ‘coins’ for everyday spending, is the concept of Central Bank Digital Currencies or CBDCs. In the US, the Fed seems to have more or less ruled this out as the ‘stable coin’ Tether, a digital currency tied to the US dollar, with a market capitalisation of $80 billion, seems set to be a safe digital store of value for investors and commerce alike. In the UK, Europe and other countries, the jury is still out on the CBDC issue, and it is early days as trial projects are being launched. 

Longer-Term Utility

A further consideration for Bitcoin becoming a ‘digital fiat’ currency is its longer-term utility. Many experts believe that Bitcoin may become used as an asset in which to store wealth (similar to gold), rather than for transactional reasons. As such, whilst investors hold Bitcoin in their digital wallet, they may exchange it for any one of the many thousands of other digital coins or tokens – such as Ethereum for smart contracts or meme coins for gaming – that are most appropriate for specific transactions. In most cases, it will depend upon what a vendor is happy to accept. There are likely other cryptos better placed to act as currency, and Ethereum substantially outperforming Bitcoin speaks to this. 

All things considered, it is a very fluid time for cryptocurrencies, and that is before one even considers the role that NFTs will play within all major economies in the coming years. What does seem certain is that, for cross-border and global transactions, some form of digital currency, or several, will become the working value exchange of choice.

Final Thoughts

At the end of the day there is a big ‘does this really matter?’ question. Already major payment companies are happy for their clients to transact in Bitcoin and other digital coins. The older generation is likely to stick to FIAT for reasons of sentimentality and patriotism.  However, as time elapses, expect the ubiquity of crypto to engulf four corners of the world.  

About the author: Katharine Wooller is Managing Director UK at Dacxi.

Easy-to-use trading platforms have made crypto trading extremely accessible, and almost everyone has heard of the likes of Bitcoin and Ethereum. In this article, we will talk about the most valuable cryptocurrencies right now, up and coming altcoins and we will summarise with an overview of how you should invest right now. 

Top 20 List Of The Highest Valued Cryptocurrency Right Now

Here are the top 20 cryptocurrencies at the moment, listed in order of market cap:

Bitcoin (BTC) - Price = $42,000 - Market Cap = $803Bn

The world’s most successful cryptocurrency, launched in 2009, highlighting the full potential of Blockchain technology. The digital currency has become so mainstream that it is accepted by many governments and is even considered legal tender in El Salvador. 

Ethereum (ETH) - Price = $3000 - Market Cap = $356Bn

Conceived in 2013, following an impressive Initial Coin Offering (ICO), Ethereum is based on a decentralised, open-source Blockchain that takes advantage of smart contracts to become a market-leading cryptocurrency.

Tether (USDT) - Price = $1 - Market Cap = $81Bn

Hosted on the Bitcoin and Ethereum Blockchains, Tether is a ‘stablecoin’ as it was designed to always be worth $1, as $1 is kept in reserve for every token that is issued.

BNB (BNB) - Price = $403 - Market Cap = $67Bn

The BNB token was issued by the Binance Exchange and its primary use is to pay for discounted transaction fees on the platform.

USD Coin (USDC) - Price = $0.9999 - Market Cap = $53Bn

Like Tether, the USD Coin is a stablecoin that is tied to the US Dollar, using smart contracts to create an equivalent number of tokens to what the user purchases in Dollars.

XRP (XRP) - Price = $0.83 - Market Cap = $40Bn

The XRP token is built on the Ripple payment transaction protocol that focuses on enabling instant, secure, and almost free payments for almost any financial transaction.

Terra (LUNA) - Price = $94.50 - Market Cap = $34Bn

This is the native token of the Korean-developed Terra Blockchain, with an initial $32m generated in investments to support the currency that has now seen major success.

Cardano (ADA) - Price = $1.02 - Market Cap = $34Bn

Cardano is a public blockchain platform used to facilitate peer-to-peer transactions, aiming to overcome the flexibility and scalability issues seen by older cryptocurrencies. 

Solana (SOL) - Price = $92 - Market Cap = $30Bn

Offering faster transaction times than its rival, Ethereum, Solana also uses a public blockchain with smart contract functionality. 

Avalanche (AVAX) - Price = $85 - Market Cap = $23Bn

Released in September 2020, AVAX is the native token of the Avalanche platform that uses a proof-of-stake system and smart contracts for improved validation.

PolkaDot (DOT) - Price = $20 - Market Cap = $20Bn

PolkaDot enables cross-blockchain transactions, solving previous compatibility issues, while also being extremely fast and scalable. 

Binance USD (BUSD) - Price = $0.9997 - Market Cap = $18Bn

A stablecoin developed by the Binance Exchange that the New York State Department of Financial Services has approved.

Dogecoin (DOGE) - Price = $0.1221 - Market Cap = $16Bn

Dogecoin was initially created in jest, as its developers looked to create a ‘joke’ payment system because of the speculation that surrounded cryptocurrency markets, however, a strong online community saw the token become extremely popular. Dogecoin is known as the first ‘memecoin’. 

Terra USD (UST) - Price = $1 - Market Cap = $16Bn

A stablecoin that isn’t actually backed by the USD, instead, for each UST that is created, $1 worth of Terra (LUNA) tokens must be destroyed.

Shiba Inu (SHIB) - Price = $0.00002362 - Market Cap = $13Bn

Another memecoin developed on the premise of FOMO (the fear of missing out), despite the initial popularity of the coin, thanks to a buying frenzy, the coin has been on somewhat of a downward spiral since late 2021 but a resurgence has been forecast by some. 

*Prices are taken from March 2022

Altcoins And Security Tokens To Watch Out For

We have picked out 7 altcoins and security tokens to watch out for, based on recent growth, popularity, and potential. 

INX - The INX token is a digital security token that is a US-registered security, now supported by the blockchain. This exciting token can be traded at any time of day, resulting in high market liquidity. The token also has its own INX crypto trading platform. 

LuckyBlock - This token has been developed to create a worldwide lottery that provides no entry limits based on geographical location and is not tied to any financial institution. 

Aave - This Ethereum-based cryptocurrency, allows token holders to vote on the future and direction of the project based on proposals.

Stellar - The Stellar token allows users to transfer digital currency into Fiat money, both domestically and across borders. The token showed strong growth in 2021.

Curve - Curve is another Ethereum-based coin that powers the Curve exchange, creating an easy way of trading tokens.

Algorand - The public version of this token allows developers to create new applications, financed by cryptocurrency and has been used across a wide range of industries, from real estate to microfinance. 

Sandbox - This interesting token is based on a metaverse that allows users to create characters so they can socialise and communicate within the platform. Users can also compete in ‘play-to-earn’ games, where they will be rewarded with the in-game currency, SAND. Using the currency, plots of land can be bought and developed to be sold on, creating a virtual economy.

What Crypto Tokens Should I Invest In?

It is not a question of which single token you should invest in as the most successful traders build a diverse portfolio made up of established cryptocurrencies, stablecoins, and upcoming digital securities and altcoins. 

Any trade or investment you make should be based on thorough research and a clear motive. 

Remember, investing always contains an element of risk but a reputable trading platform can ensure your transactions are secure, enabling you to make trades quickly and easily, with minimal transaction fees.

Even if you've never looked into crypto investment yet, this might be the best time to do so. Crypto can now be utilised in such activities, and it is already happening in some regions of the globe. In exchange for services rendered, more businesses are taking cryptocurrencies as fees. You could also use a cryptocurrency trading platform to help you manage your transaction if you are a newbie. Based on this article, Bitcoin Prime is suited for beginners, created by professionals at a trusted crypto outlet and enables rapid signup. Now let’s look at some of the most beneficial crypto tactics and scenarios for holding, which you may follow to boost your venture.

Set A Target Selling Value

You may set a target selling value. Therefore, you can figure it out, and it's time to sell. To achieve this goal, all you have to do is wait for the rates to stabilise. Whichever the situation could be, one must be conscious that you'll be attempting to obtain the maximum possible market value. You may accomplish this by looking at the price graph of your coin. You may utilise the highest sales price on record as a factor for calculating your objective price after you have located it. After you have traded your cryptos at your desired sale value, you might anticipate prices to fall drastically, requiring you to reinvest your funds. You might just have to wait a long time to acquire your crypto assets for another wave of cryptocurrency trading. So it is best to hold multiple cryptos if you can. You might still draw on your previous knowledge to estimate how low the purchase value could be. You might plan for a time when the sales price is the same as it was before you bought your coins.  Examining certain market projections can also help you guess what will happen afterwards. You can also read some credible price prediction articles online.

Wait For The Ideal Opportunity

Whenever it applies to cryptocurrency trading, timing is everything. You must understand when it is preferable to keep or trade your investments. This will essentially define if you generate income or continue to lose money. Investors that wish to improve their prospects may have to wait a while. This is entirely dependent on the value of your coin. It's also a beneficial factor if you acquire a coin that is significantly volatile. You might, at the very minimum, capitalise from the fluctuation without having to wait a very long time. Despite cryptos being often regarded as great investments, you cannot predict whenever the price would be ideal. Remember that cryptocurrency investing is a highly volatile environment, and no one can foretell whether you could profit or end up losing your capital. It's vital to keep a strong financial condition to get through all the waiting time. That means you won't have to withdraw your cryptocurrencies. It is a good idea to have separate funds for the financial crisis rather than withdrawing all your assets prematurely.

Hold Until The Price Is At An All-Time High

You may be bewildered at this point if you want to sell your cryptocurrencies. With some, it involves selling something for more revenue than you spent for the assets. You will have to keep a record as to how much you have spent on your crypto accounts. The amount would be used to determine if you're not able to deal. One should be aware of the pricing, and they'll be the primary consideration in your investment decision.

Closing Thoughts

Follow the option that best suits you. This will only work if it is compatible with your temperament. For beginner investors, holding is reasonable and easy.  At the end of the day, the decision is up to you. You can hold your cryptos for as much as you choose and trade them whenever the value goes up while building your crypto portfolio along the line. Whenever it relates to cryptocurrency assets, it is indeed essential to come up with strategies. As a crypto investor, you should be attentive to any threats which you can manage as long as it keeps control over the situation.

The yearly volume of bitcoin transactions in Russia is estimated by the central bank to be over $5 billion. But a recent legislative recommendation escalated a brewing disagreement between the Russian Ministry of Finance and the central bank. Let’s take a deeper look at what the fuss is all about and how this can affect how cryptocurrency is taxed in the USA and across the globe.

Russia’s Latest Crypto Regulation

The finance ministry published legislative recommendations that contrasted with the central bank's call for a blanket ban. This escalated a brewing disagreement over cryptocurrency regulation in Russia.

The proposed legislation to regulate cryptocurrencies in the country includes requirements that investors can no longer stay anonymous and that transactions be limited to a particular value, among many other things. In this context, it must be noted that enabling law enforcement, the ability to track money movements and transactions risks undermining one of the cryptocurrencies' key selling points: its anonymity.

However, to add to the complexity of the matter, a document obtained by Reuters states that the central bank opposes the ministry's plans. Also, it wants an official ban on the creation and distribution of cryptocurrencies.

In order to understand how this legislative recommendation affects the global crypto tax dynamics, let’s take a look at how cryptocurrency is taxed in the USA and in Russia.

How Is Cryptocurrency Taxed In Russia?

In the last month of 2020, the Russian Federation's government introduced Bill No. 1065710-7 to the State Duma, which includes measures that would control the circulation and possession of cryptocurrency and define liability for violations of the bill's laws.

The bill mandates residents, individuals, and legal companies operating in the Russian Federation to report their cryptocurrency holdings and imposes tax liability for illegal failure to submit information or declaring misleading information regarding cryptocurrency transactions. The bill's changes call for cryptocurrencies to be recognised as an "asset" and taxed appropriately.

How Is Cryptocurrency Taxed In The United States?

For tax purposes, the Internal Revenue Service considers cryptocurrencies as property and not currency. You must keep a record of the capital gains or the capital losses and incur the proper cryptocurrency tax rates, just like you would with stocks, bonds, or real estate. These crypto tax rates are determined by the holding period of the assets and your income tax bracket for the financial year.

• Holding your crypto assets for more than a year will lead to long-term capital gains or losses when you sell them. The tax rates on long-term capital gains are often lower than that of short-term tax rates. 

Depending on your income tax bracket, long-term capital gains tax rates vary from 0% to 20%.

• Holding your crypto assets for less than a year will lead to short-term capital gains or losses when you sell them. The tax rates on short-term capital gains are often much higher than that of long-term tax rates. 

Depending on your income tax bracket, short-term capital gains tax rates vary from 10% to 37%.

What Is The Effect Of Russian Crypto Regulation On How Cryptocurrency Is Taxed In The USA?

The Russian government and the central bank have agreed to regulate cryptocurrencies and will treat them as foreign currency rather than a stock. Essentially, the plan states that transactions of $8,000 or more must be registered, and exchanges must be licensed.

With the change in crypto dynamics in Russia, the third-largest crypto mining country, the United States is now attempting to consider what its rules would look like. It is projected that crypto havens would spring up in either primarily island countries throughout the world that simply wants people to switch their bitcoin there to escape taxation. There will be a lot of amendments here from various nations across the globe.

The Bottom Line

These are all significant developments, even if they occur on a global scale, for how U.S. politicians may consider crypto, whether as a security or a currency.

FAQs:

• Is Bitcoin used in Russia?

Russia is the third-largest country in terms of mined cryptocurrencies. But officials have, for a very long time, questioned the crypto market, worrying about its volatility and risk of unlawful activities, and have demanded crypto rules be imposed. The yearly volume of bitcoin transactions in Russia is estimated by the central bank to be over $5 billion.

However, the Bitcoin sales in rubles have remained limited. Russians have purchased an average of 210 BTC each day with rubles. 

• How is cryptocurrency taxed in Russia?

In the last month of 2020, the Russian Federation's government introduced Bill No. 1065710-7 to the State Duma. The bill mandates residents, individuals, and legal companies operating in the Russian Federation to report their cryptocurrency holdings and imposes tax liability for illegal failure to submit information or declaring misleading information regarding cryptocurrency transactions. The bill's changes call for cryptocurrencies to be recognized as an "asset" and taxed appropriately.

• What is the new crypto legislation recommendation in Russia?

The proposed legislation to regulate cryptocurrencies in the country includes requirements that investors can no longer stay anonymous and that transactions be limited to a particular value, among many other things. In this context, it must be noted that enabling law enforcement, the ability to track money movements and transactions risks undermining one of the cryptocurrencies' key selling points: its anonymity.

On Wednesday, Ukrainian vice prime minister Mykhailo Fedorov announced that people can send dogecoin as a donation — a cryptocurrency that initially began as a joke but has since been supported by Tesla CEO Elon Musk.

“@dogecoin exceeded Russian ruble in value. We start to accept donations in meme coin. Now even meme can support our army and save lives from Russian invaders. $DOGE owners of the world, @elonmusk, @BillyM2k, let's do it. Official $DOGE wallet: DS76K9uJJzQjCFvAbpPGtFerp1qkJoeLwL,”  Fedorav tweeted. 

People can also donate to the Ukrainian government in Solana, other digital tokens based Solana, and non-fungible tokens (NFTs). 

Via Twitter, Fedorov announced that Gavin Wood, co-founder of blockchain platform Polkadot, sent $5 million worth of DOT cryptocurrency to Ukraine. 

On Thursday, Russia captured its first major city in Ukraine after a week of conflict. Kherson, a regional capital with a population of around 300,000, is now under the control of President Putin’s forces.

Steps You Can Take Now

Once you’ve realised that you have fallen for a scam, there are a few steps that you can immediately take to minimise the damage. By acting on these steps quickly, you can be sure you are doing everything in your power to keep yourself and your data safe.

1. Talk to People Who Can Help. The first thing you should do once you realise you’ve fallen victim to a scam is to reach out to people who can help you. A crypto lawyer can identify where the coins have been moved to and make sure exchanges are on alert to freeze any accounts the scammers may be using. By taking proactive action and reaching out to those who might be able to help, you are giving yourself the best chance at limiting harm to your coins.

2. Protect Your Information. One of the most valuable resources you have is information, and when you fall for a scam online, you can be sure that your information is immediately at risk. There are a few ways to mitigate this risk, but the most effective at this point is to change all of your passwords online and invest in some handy cyber security tools such as a proper antivirus and a VPN. With the help of these tools, you can prevent more data from leaking.

What You Can Learn

Finally, learn from the experience. What’s done is done, but by taking the time to reflect on what happened, you can learn how to protect yourself going forward. Experience is the greatest teacher of all.

How to Recognise A Future Scam

Most importantly, you need to make sure you learn the signs of a crypto scam in the future. Here are some common red flags:

1. The exchange website you are trying to log into has an unusual looking URL. For instance, if you are trying to login to Coinbase.com, but the URL is C0inbase.com or coinbase.net, you have probably been fooled into going to a phishing site run by hackers. 
2. Someone asks you for your private key or recovery phrase. If anyone asks for this, they are absolutely trying to steal from you.
3. Your exchange emails you from an unusual looking email address such as accounts@c0inbase.com - see #1 above.
4. You receive an email from an exchange or crypto company with lots of typos and poor English. 

These are just some common red flags, but there are many. If you are at all unsure, it is best to proceed with caution. And again, if you find you have been scammed, reach out to a crypto lawyer immediately.

This new wealth, when coupled with mass grassroots adoption, will lead to transformative social change. Bitcoin billionaires will seek to mould society along with the founding principles of Bitcoin, which include a devotion to privacy, freedom and decentralised power.

Bitcoin’s Principles

Bitcoin’s origins can be traced back to the cypherpunk movement of the late 1980s. This group advocated the use of cryptography to bring about social and political change. They deplored the widespread surrender of personal privacy to governments and corporations.

The basic principles of this movement were resumed in Eric Hughes’s Cypherpunk Manifesto. As the manifesto explains, “Privacy is necessary for an open society in the electronic age.” Privacy is to be differentiated from secrecy in that privacy is the freedom to disclose the information one wants to a counterparty.

In Hughes’s words, “privacy in an open society requires anonymous transaction systems.” In a world where the use of cash is being eroded and discouraged, cryptography becomes the principal weapon with which to restore privacy. As Hughes explains, “We must defend our own privacy if we expect to have any […] People have been defending their own privacy for centuries with whispers, darkness, envelopes, closed doors, secret handshakes, and couriers. The technologies of the past did not allow for strong privacy, but electronic technologies do.”

Bitcoin, when used with private keys and through non-custodial wallets, thus ensures privacy. Privacy, in turn, ensures freedom. When one acts through private methods, one may speak and transact freely. Speaking freely is the foundation of modern democratic society, whereas transacting freely is the basic pillar of economic and political freedom. The fruit of one’s labour should be spent as one deems best without the interference of financial intermediaries and the state.

These principles will be propagated by a new generation of billionaires that emerge from Bitcoin. Bitcoin billionaires will raise awareness regarding the benefits of sound money, while also shaping the public narrative by becoming increasingly influential. The rise of the Bitcoin billionaires should thus encourage the propagation of the fundamental values of privacy and freedom.

Disillusionment

Rampant inflation caused by the reckless macroeconomic mismanagement of central banks is driving an increasing number of people towards Bitcoin. In an effort to preserve the value of their assets, these individuals will come to appreciate the myriad benefits of sound money. As this migration to Bitcoin accelerates and these individuals become increasingly wealthy, social and political change will start to accelerate.

The migration to Bitcoin caused by the growing disillusionment with governments is already taking place in Turkey, Lebanon and Venezuela. A crumbling economic situation, disintegrating currency and broken financial system have driven millions to seek refuge in Bitcoin. Bitcoin is increasingly becoming the world’s preferred store of value. These developments, coupled with an eventual billionaire flippening (ie. the moment where most billionaires in the world will be Bitcoin billionaires), will make the argument for a transition to a monetary system based on Bitcoin and its values ever stronger.

Enlightenment

Bitcoin wealth will also give an increasing voice to younger generations as they have disproportionately adopted the technology. According to a recent survey by CNBC, nearly half of millennial millionaires have more than 25% of their wealth in cryptocurrency. This phenomenon indicates a generational transfer of wealth, a divide on how wealth is created and the re-emergence of concerns regarding privacy, freedom and decentralisation among the young. As the president of the group that conducted the survey said, “younger investors were more intellectually engaged with the idea even though it was new.”

Once we have reached a tipping point in Bitcoin adoption, social and political change based on the founding principles of Bitcoin will be able to take root. This change will be spearheaded by early adopters and Bitcoin billionaires and will resonate with the millions who will have migrated to Bitcoin. All of these factors will accelerate the rise of a new monetary system based on Bitcoin, which will be based on privacy, freedom and decentralisation.

About the author: Fynn Kreuz is the CEO of the Swiss blockchain (Bitcoin) software technology company, Numbrs. In the tradition of Swiss Private Banks, Numbrs offers customers, worldwide, a Bitcoin Account that allows users to store their Bitcoins securely in Switzerland. Numbrs offers exclusive and institutional-grade Bitcoin research dedicated to the impact Bitcoin has on the economy, markets and society. Because only those who understand the paradigm shift created by Bitcoin will be able to preserve their wealth in the future. For more information please visit: www.numbrs.com 

Cryptocurrency is becoming popular every day as the world is adjusting to accommodate it. Therefore, more traders are looking for platforms where they can buy and sell Bitcoin and other digital currencies to make profits. In this case, Bitcoin Motion is one of those websites where traders can buy and sell Bitcoin.

Is Cryptocurrency Trading Profitable?

Cryptocurrency trading is highly profitable because of the high volatility of digital currencies. In this case, with Bitcoin Motion, trades are made by buying and selling Bitcoin, which has high volatility. Therefore, you can easily make profits through cryptocurrency trading.

Moreover, there are short-term speculative interests that make the trading so exciting. The prices can increase rapidly and consistently when the market push and pull factors interact. In such circumstances, cryptocurrency traders get massive profits.

However, it would be best to remember that these investments are also risky. After all, you can also make significant losses if you do not keep track of the changes in the market. Therefore, it is good to invest wisely if you want to get profits comfortably.

What Is Bitcoin Motion?

Bitcoin Motion is a platform with tools and automated features that allow cryptocurrency traders to transact safely. This platform has market data and tech indicators integrated into the system to give traders trading solutions when buying and selling digital currencies.

This platform was founded by a group of cryptocurrency professionals who hold a firm belief that digital currency is the future. They aim to make cryptocurrency trade easy for all traders to encourage more traders to join this platform and trade.

How Bitcoin Motion Works

Once the website is launched, every trader will be free to trade efficiently and seamlessly through the website. To start, you only need to register by providing your personal details to create your account. Then, you can deposit as low as $250 using the various supported means of payment.

The registration process is fast because you only need to provide your name, email address, and phone number. Then, you will easily be logged in to your account. After registration, you can buy and sell Bitcoin to other traders on the platform. Aside from this, you can enjoy the platform’s numerous benefits, such as its 24/7 support, and you will be dealing with trustworthy brokers.

Moreover, here, you will join a community of cryptocurrency traders who are determined to make profits. Since the platform is built on freedom and trust, traders of all walks of life can register.

Can I Make Money On Bitcoin Motion Website?

Many people think that you can only succeed in the cryptocurrency trading industry if you are an experienced trader. However, this is not true because even beginners can learn from the information posted on the site, as well as other reputable sources, and make huge profits after trading. Therefore, you can make money if you trade the right way and be aware of the changing market trends. However, because of the high volatility of the cryptocurrency markets, you need to be aware of any market changes that would affect the price and value of Bitcoin and other digital currencies.

Is Digital Currency The Future?

Cryptocurrency has been widely misunderstood for years, with many people calling it a scam. Moreover, some people claimed that it is a gamble and a scheme by online fraudsters to get money from unsuspecting Internet users. Unfortunately, these unfounded claims have made some people retract for fear of being scammed.

However, governments and central banks have failed to ensure equal access and security of financial services to the citizens. Therefore, people are slowly resorting to the electronic payment system whose security is guaranteed by cryptography.

The launch of Bitcoin Motion’s website can help affirm that cryptocurrency trading is here to stay. Today, many people are embracing digital currency because it has proved to be legitimate and trustworthy. Therefore, cryptocurrency is the future. So, it’s best to embrace it now and keep up with the changing times.

Conclusion

Bill Gates once said that digital currency is the future of money. This statement can be considered accurate because digital currency is steadily becoming popular. Therefore, the launch of the Bitcoin Motion website is a big step towards the actualisation of the cryptocurrency trade for all traders.