[REQ_ERR: 404] [KTrafficClient] Something is wrong. Enable debug mode to see the reason. Why do you have to be 18 to buy cryptocurrency - livesstrip.com

Why do you have to be 18 to buy cryptocurrency

Many cryptocurrencies such as Bitcoin and Ethereum are launched with lofty objectives, which may be achieved over long time horizons. While the success of any cryptocurrency project is not assured, early investors in a crypto project that reaches its goals can be richly rewarded over the long term.

For any cryptocurrency project, however, achieving widespread adoption is necessary to be considered a long-term success.

Bitcoin as a long-term investment

Bitcoin, as the most widely known cryptocurrency, benefits from the network effect — more people want to own Bitcoin because Bitcoin is owned by the most people. Bitcoin is currently viewed by many investors as “digital gold,” but it could also be used as a digital form of cash.

Bitcoin investors believe the cryptocurrency will gain value over the long term because the supply is fixed, unlike the supplies of fiat currencies such as the U.S. dollar or the Japanese yen. The supply of Bitcoin is capped at fewer than 21 million coins, while most currencies can be printed at the will of central bankers. Many investors expect Bitcoin to gain value as fiat currencies depreciate.

Those who are bullish about Bitcoin being extensively used as digital cash believe it has the potential to become the first truly global currency.

Ethereum as a long-term investment

Ether is the native coin of the Ethereum platform and can be purchased by investors wishing to gain portfolio exposure to Ethereum. While Bitcoin can be viewed as digital gold, Ethereum is building a global computing platform that supports many other cryptocurrencies and a massive ecosystem of decentralized applications (“dApps”).

The large number of cryptocurrencies built on the Ethereum platform, plus the open-source nature of dApps, creates opportunities for Ethereum to also benefit from the network effect and to create sustainable, long-term value. The Ethereum platform enables the use of “smart contracts,” which execute automatically based on terms written directly into the contract code.

The Ethereum network collects Ether from users in exchange for executing smart contracts. Smart contract technology has significant potential to disrupt massive industries such as real estate and banking and also to create entirely new markets.

As the Ethereum platform becomes increasingly used worldwide, the Ether token increases in utility and value. Investors bullish on the long-term potential of the Ethereum platform can profit directly by owning Ether.

That’s not to say Ethereum doesn’t have competition. A number of “Ethereum Killers,” including Solana(CRYPTO:SOL), Polygon(CRYPTO:MATIC), and Avalanche(CRYPTO:AVAX), are all built to handle smart contracts and use a blockchain system capable of processing more transactions per second. The speed has the added advantage of being less expensive for users as well. But Ethereum is the most broadly adopted platform for using smart contracts.

What if a user needs some low market cap gems?

Using the above cryptocurrency exchanges will allow you to buy almost all of the cryptos you could ever want to buy.

However, there are a few more cryptocurrency exchanges that you should have an account with, as there are a few coins that are only available there. It’s a good idea to have an account on most of these, which will save time when you discover a winning coin.

So, here are some bonus exchanges which I am sure you would love.

12. Hoo

Hoo.com, a cryptocurrency wallet, was established by Hufu Technologies in Hong Kong in 2017. In June 2019, the company acquired two Chinese exchanges and integrated them with Hoo.com. Thus, Hoo Exchange became a complete digital asset trading platform.

The exchange provides all the basic features such as spot and margin trading, futures and options trading, etc. In addition to this, Hoo has an OTC (over-the-counter) platform which can be used for bulk trades. The exchange offers around 400 tokens (507 pairs of token).

The trading fee on HOO is 0.2% of the transaction value. People who have high trading volumes can get a discount on this trading fee.

The benefits of trading on Hoo Exchange are as follows:

  • The exchange provides many low market cap gems
  • A number of options to earn passive income are available on the platform
  • The platform has an interactive mobile app that allows you to trade on the go
  • The founding team has good experience in the crypto markets

Please read our full review on Hoo Exchange here.

13. MEXC Global

MEXC Global (formerly known as MXC) was established in 2018 in Seychelles, East Africa. The exchange has listed 518 coins which are offered as 887 different pairs.

You can use MEXC Global for spot, margin, and derivatives trading. In addition to this MEXC Global provides several features such as ETF (Exchange Traded Funds) Trading, staking, DeFi Farming, etc.

The trading fee on MEXC Global is 0.2% of the transaction value. This fee can be discounted by holding the in-house token of MEXC Exchange i.e. MX Token.

The benefits of using MEXC Global Exchange are as follows:

  • The platform has a very user-friendly interface
  • The platform has an interactive mobile app that allows you to trade on the go
  • You can earn passive income through staking and depositing assets in DeFi products

Please read our full review on MEXC Global Exchange here.

14. AscendEX (BitMax)

AscendEX (formerly known as BitMax) was established in 2018 in Singapore. Founders George Cao and Ariel Ling have substantial experience in investment banking and traditional stock markets.

The exchange provides the following services:

  • Spot, Margin, and Futures Trading
  • OTC (over-the-counter) Trading (for bulk purchases)
  • Fiat to crypto purchase
  • Staking (to earn passive income on your crypto assets)
  • DeFi Yield Farming (to earn passive income on your crypto assets)

AscendEX has listed 186 tokens on the platform, which are offered as 299 pairs of token. The trading fee of the platform is 0.1% for large-cap tokens and 0.2 for altcoins.

The benefits of using AscendEX are as follows:

  • Copy-trading feature for futures trading(you can copy trade settings of professional traders)
  • Passive income earning options available (staking and DeFi Yield Farming)
  • The exchange has a user-friendly interface

So that is it for my list of most reliable cryptocurrency exchanges. Now, with such an information overload there is a need to summarise this information. Let us understand how to choose the best crypto exchange for ourselves.

How to select the best cryptocurrency exchange for you?

Following are the crucial factors you should consider while choosing the best crypto exchange for yourself:

  • The country you live in

Almost all exchanges have a list of supported countries. Residents outside these jurisdictions should not use these exchanges.

Further, you should also check whether your native fiat currency is supported by that exchange or not. If not, then you need to figure out a way to transfer your funds to this exchange.

  • Security of funds

Security is the key factor for the sustenance of the whole crypto market. Before choosing an exchange for yourself, you should have an answer to these questions:

  1. Who keeps custody of my funds?
  2. Is there any security audit done on the exchange? What was the conclusion?
  3. Where are the funds of the exchange kept? Is the place secure enough?
  4. Does the exchange has any insurance in case of loss of funds due to a security breach?

Once you have answered the above questions, you will be able to judge the security of the said platform.

  • Whether it is centralized or decentralized

Centralized exchanges need your personal details before they allow you to trade on their platform. Further, most of these exchanges keep custody of your funds.

This is not the case with a decentralized exchange.

  • Ease of use

Some exchanges although very good in product offerings have a very complicated user interface. This leads to confusion in understanding the product or method of transactions.

Thus, you should choose an exchange that has an interactive web application and a compatible mobile application.

  • Liquidity and Trading Volume

If you want to purchase a token, you need to ensure whether people are interested in selling that token on the exchange. Thus, liquidity means the availability and scale of crypto funds on a particular exchange.

For this, you should check the number of trading pairs supported by the platforms and the 24-hour trading volume of the platform.

  • KYC Rules

KYC stands for Know Your Customer. Almost all the centralized exchanges have a KYC Policy basis that collect information of user and enable them to use the platform.

What you need to check is the type of information collected as well as the time in which verification is done by the exchange.

  • Trading Fee

On every transaction, a trading fee would be charged by the exchange. This trading fee is a cost to you and thus you should try and choose an exchange with the lowest trading fee.

  • The reputation of exchange in the market

A crypto exchange is an intermediary between a buyer and the seller. Therefore, you need to ensure that an exchange is legit and does not have a bad reputation in the market.

For this, you should search for any possible scams that an exchange could have been a part of.

  • Relationship of the exchange with the country’s authorities

Lastly, you should check whether a crypto exchange is in line with the regulations of your country. In case an exchange is banned by the authorities, you should not use that exchange in any case.

Conclusion – Best Crypto Exchanges 2022

Trust me, I have squeezed my 5 years of experience in the crypto markets in this single post. My objective is to bring you the most feasible products of the crypto markets and help you in earning life-changing money.

I will update this post as I find other trustable and feature-rich cryptocurrency exchanges. For now, you can consider joining our inbox.

Reporting Cryptocurrency On Your Taxes

Let’s get to the final step of understanding US crypto taxes by learning how to report cryptocurrency taxes.

It is easy to get confused as to which IRS tax form is required for what purpose. As we already know crypto investing leads to the generation of capital gains taxes, and activities like mining, staking, and rewards collection will lead to income taxes.

Most important tax forms in the United States:

Reporting Cryptocurrency With TurboTax

TurboTax is the only tax preparation website that walks you through the process of recording a cryptocurrency sale, though H&R Block now allows you to enter individual transactions (more on that later). TurboTax’s Q&A in this area is thorough and offers plenty of guidance. You can report cryptocurrency transactions using any other online tax prep service, but they aren’t designed to help you with it the way TurboTax is.

With TurboTax, you have to spring for TurboTax Premier ($89 for federal filing) or TurboTax Self-Employed ($119 federal) to get help with cryptocurrency transactions. The Deluxe version ($59 federal) doesn’t include it.

TurboTax’s cryptocurrency mini-wizard is located under Your Income (Stocks, Cryptocurrency, Mutual Funds, Bonds, Other). There are four situations that would require you to complete this section. You’d do so if you:

  • sold cryptocurrency for either a profit or loss

  • converted cryptocurrency to a conventional currency, such as US dollars

  • exchanged one of the various types of cryptocurrency for another one

  • used cryptocurrency to purchase products or services or earned it in one of a variety of ways, like wages.

Cryptocurrency transactions are sometimes reported on Form 1099-B, Form 1099-K, or a tax statement that your exchange sends you. Exchanges are not required to send these forms out, so don’t be surprised if you don’t have one from 2021. It’s your responsibility to keep track of your transactions!

If you haven’t kept records, look for an option in your exchange account to download your order or trading history as a CSV file. If you’re a frequent trader, make sure to download your history periodically throughout the year, since your exchange may limit you to three months of data, for example.

TurboTax lets you import transactions from 18 cryptocurrency services, including Coinbase, Robinhood, Crypto.com, and CoinTracker. You can also enter data manually. The site either walks you through the process or tells you when forms will be available. We tested tax websites in early February, before all the forms were ready and therefore can’t vouch for how smooth the process will be for you. You can always upload a CSV file from your computer if you’re unable to import a form directly from your exchange house. You may have to contact your exchange if your CSV files’ labels don’t match those in TurboTax exactly.

You always have the option to enter data manually, up to 75 transactions. If you have more, you’ll need a transaction aggregator like CoinTracker. TurboTax needs the service name and payer’s EIN (if you have a 1099-B). It now uses the same screen you’d use to report the sale of any investment type. You’ll need to supply the:

  • investment type,

  • date (if applicable) and method by which you acquired it,

  • date it was sold or disposed of,

  • cost basis, and

  • sale proceeds.

After you enter the data and click Continue, a summary of the transaction appears. You can either add more transactions or continue with the return if you’re finished. A final summary tells you whether it was a short-term or long-term gain or loss, and what that gain or loss was.

Intuit recently announced that TurboTax users who are due a refund can have those funds deposited in a Coinbase account, where they can be converted into cryptocurrency.

The 11 Best Cryptocurrencies To Buy

Going forward, I will describe each coin, its purpose, team, liquidity, price volatility, and other metrics.

In the end, you will have a solid understanding, so that you can decide for yourself which is the best crypto to buy in 2022.

I will start with popular, well-known cryptocurrencies. Ideal for beginners.

Then, I will move on to some more advanced coins.

These coins may generate more profits, but they require you to know a bit more about them.

Plus, they are likely more volatile than the first coins on my list.

If you’ve already invested in top cryptocurrencies offered on platforms like Coinbase and want to expand your portfolio, then the coins at the bottom of my list might be the best crypto to invest in.

#1. Bitcoin

Bitcoin is the most widely used cryptocurrency to date. It is often referred to as the king of cryptocurrencies, and its primary goal is to act as global, peer to peer, digital cash.

Best Cryptocurrency To Buy. Bitcoin vs. Fiat money

  • Team: Bitcoin is the only cryptocurrency that I recommend with an anonymous founder. The creator of Bitcoin is known as Satoshi Nakamoto. There is a lot of speculation about who he or she is, but ultimately, no one knows. On the other hand, the team actively updating Bitcoin’s open-sourced codebase is run by top cryptographers in the space, such as Adam Back.
  • Liquidity: Bitcoin has the highest liquidity in the space, making it the best cryptocurrency to buy for beginners. You will have no trouble buying or selling Bitcoin – there will always be someone on the other end to match your order.
  • Price Volatility: Despite its volatility, Bitcoin is known to be one of the most stable cryptocurrencies. It would require a lot of capital for someone to manipulate the price.
  • Crypto Economics: Bitcoin runs on a PoW (Proof-of-Work) system, which means miners receive block rewards in Bitcoin. Initially, the block reward was 50 BTC per block, but every 210,000 blocks the reward halves. This means, over time, inflation decreases. Also, the supply is limited: only 21 million coins will ever be mined. As demand increases, the price should rise substantially.
  • What makes Bitcoin a good investment? Market share. Did you know that Bitcoin accounts for over 60% of the total cryptocurrency market cap? This dominance means it has tremendous momentum, which makes it the best crypto to invest in 2022 if you’re a beginner, or if you simply don’t trade much.

Best Exchanges To Buy Bitcoin

Simply put, Bitcoin is still the best crypto to buy today, if not the best. I would not recommend anyone invest in cryptocurrency without investing in Bitcoin.

If you’re still not convinced, check out why Bitcoin is a good investment.

#2. Litecoin

Litecoin is one of the first cryptocurrencies to come after Bitcoin, and one of the hottest cryptocurrencies of the last decade.

Using Bitcoin’s source-code, Litecoin is a fork of Bitcoin with some technical changes to the code, making it much faster than Bitcoin. Its mission is also to be a global, peer to peer currency.

Best Cryptocurrency To Buy. Source: imgur.com

  • Team: The creator is Charlie Lee. He is an experienced computer scientist, who also worked at Coinbase as the Director of Engineer. His brother is Bobby Lee, founded BTC China, a large exchange. Charlie is both experienced and well connected.
  • Liquidity: Litecoin is very liquid. It has had high liquidity and a large market cap since its creation.
  • Price Volatility: Litecoin is more reliable of a hold compared to higher risk coins with smaller market caps and communities.
  • Crypto Economics: Litecoin started with a 50 LTC block reward, now it is 12.5 LTC. There is a limited supply of 84 million as compared to Bitcoin’s 21 million. Still, this is with a higher block reward and faster block time.
  • What makes Litecoin a good investment? Litecoin is the silver to Bitcoin’s gold. It’s one of the original altcoins, and therefore also has a tremendous market cap when compared to other altcoins. Plus, it has utility; it’s faster and cheaper than Bitcoin. Its longevity and utility put it towards the top of the best crypto to buy in 2022.

Despite its competition, Litecoin is still one of the most trusted and used cryptocurrencies these days.

#3. Ethereum

Ethereum was the first major project to introduce smart contracts.

Smart contracts allow developers to launch mobile and desktop decentralized applications (dApps) on top of the blockchain.

Thousands of tokens run on the Ethereum network, and these tokens were what spurred the initial coin offering (ICO) movement.

Best Cryptocurrency To Buy: How Smart Contracts Work

  • Team: Ethereum is founded by Vitalik Buterin. Although he’s young, he has proved himself to be a dedicated cryptocurrency expert. Joseph Lubin is also known as a co-founder of Ethereum as well as Consensys, which is a software-production studio in NY dedicated to creating decentralized Ethereum applications.
  • Liquidity: Ethereum is also highly liquid, generally ranked #2 or #3 right below Bitcoin. You will have no problems buying or selling Ethereum.
  • Price Volatility: Ethereum has a loyal community and team, which means the price has a better chance of staying stable and increasing in the long run which makes it one of the best crypto to invest in.
  • Crypto Economics: There are many more Ethers that can exist as opposed to Bitcoin and Litecoin. But keep in mind that Ethereum fuels the dApp ecosystem. This means millions of developers and companies may need Ether to fuel their smart contracts and launch their applications.
  • What makes Ethereum a good investment? Ethereum is the current leader of smart contract platforms and is still one of the hottest cryptocurrencies to buy in 2022 for the innovations it brought to the world and its potential applications worldwide.

Is Ethereum a good investment? Check out the full guide on why Ethereum is worth buying.

#4. Binance Coin (BNB)

Unlike Bitcoin and Litecoin, which aim to be used as currencies, the Binance coin is a utility token.

This means its value comes from how useful it is (and how much demand there is for its utility) within the Binance ecosystem.

Best Cryptocurrency To Buy. Source: binance.com

  • Team: Changpen Zhao is the CEO of Binance. Given the success he and his team are achieving with Binance, it’s safe to say they have the skills and resources to make this coin a success.
  • Liquidity: Binance Coin is one of the most liquid cryptocurrencies right now. It is always well-ranked on Coinmarketcap, with stable or growing trade volume.
  • Price Volatility: The price has shown impressive stability (compared to other cryptocurrencies), along with consistent growth. The price was indeed multiplied by x3 in early 2019, during the bear market, but still, it is considered one of the most promising cryptocurrencies.
  • Crypto Economics: 200,000,000 BNB were issued via an ICO at $0.10 per coin. BNB offers trading fee discounts to users holding BNB. In the first year holding BNB, users get 50% discounts, then 25% the second year, 12.5% third, 6.75% fourth, and zero the fifth or later. Binance will also use 20% of its profits each quarter to buy back BNB tokens and burn them until the amount of BNB has reduced to 100,000,000 – by half. Binance is also launching a decentralized exchange, Binance DEX, which should further increase the utility of BNB.
  • What makes BNB a good investment? As opposed to most utility tokens, Binance has found lots of use cases for BNB tokens (and they keep adding new use cases regularly), which should only increase demand for the token — and thus, its price.

Binance is one of the world’s fastest-growing exchanges. Because Binance Coin is used to pay for transactions on the exchange and many other purposes, BNB is one of the fastest-growing cryptocurrencies in 2022 in terms of trade volume.

If you’re looking to diversify your cryptocurrency portfolio by adding a utility token issued by a company with a solid business history and an experienced team, and don’t know which crypto to buy, think about Binance coin.

#5. Basic Attention Token (BAT)

Basic Attention Token is another utility token most commonly utilized in the Brave Browser.

The BAT token is used to tip content creators, or virtually anyone that you find helpful on the internet. You can tip content creators monthly, or choose to send one time payments to specific people.

Additionally, users who watch ads can get rewarded in BAT. Using smart contracts, advertisers can lock up BAT, and as their ad is viewed, their funds are released to both the Brave Browser and the end viewer.

Best Cryptocurrency To Buy. Source: Brave

  • Team: The founder is Brendan Eich. He helped create Javascript and is a co-founder of Mozilla Firefox. With these wild credentials, you can bet he understands the browser business and technology.
  • Liquidity: Liquidity always fluctuates, but BAT is generally well within the top 40 most traded coins, according to Coinmarketcap.
  • Price Volatility: Surprisingly consistent compared to other cryptocurrencies. In 2018 and 2019, the price has remained within the same region while most other coins were collapsing. This may be a good sign of healthy accumulation.
  • Crypto Economics: A total of 1.5 billion tokens exist, and it is planned to stay this way. If demand grows, then so should the price valuation of the token.
  • What makes BAT a good investment? BAT tokens are heavily used within the Brave ecosystem. Plus, the Brave browser has seen huge adoption growth and great feedback from internet users since 2019. BAT will likely be a hot cryptocurrency in 2022.

#6. Monero (XMR)

Monero is a privacy-focused project. The coin utilizes fancy cryptography and privacy logic to hide the participants’ identities.

It is widely used on the dark web for this reason and is the most popular privacy coin today.

Best Cryptocurrency To Buy. Source: bauer-power.net

  • Team: Monero had a somewhat anonymous start by a user on the Bitcointalk forum. The team is known to be led by Riccardo “fluffypony” Spagni, an experienced developer and cryptocurrency expert.
  • Liquidity: Monero is a highly liquid coin, always sitting at the top of Coinmarketcap. No matter how much you wish to buy or sell, the market should be large enough to fit your needs.
  • Price Volatility: Due to Monero’s user base and market cap, it’s a bit more stable and less risky than smaller market cap coins – and it has proven so during the bear market of 2018/2019.
  • Crypto Economics: A maximum of 18.4 million XMR coins will exist in circulation until May 2022. After that, 0.3 XMR will be put in circulation every minute forever. This is a pretty small limit, making the coins very valuable in times of demand. Much of the dark web uses Monero for its privacy features, which is continuously pushing demand up.
  • What makes XMR a good investment? Whether you feel good about it or not, privacy coins like Monero will always have demand due to their use on black markets. Despite its old-fashioned technology, Monero’s popularity and liquidity make XMR one of the top privacy-focused cryptocurrency to buy in 2022, and a great way to diversify your portfolio.

#7. NEO

NEO is often known as the China-based Ethereum. Founded in China, NEO is another smart contract platform enabling developers to launch dApps on the blockchain.

They are slightly more centralized than Ethereum: instead of relying on hundreds of nodes like on Ethereum, there are only a few (less than 10) that make up NEOs decision making.

Best Cryptocurrency To Buy. Source: cryptocurrencyaus.com

  • Team: The founders are Da Hongfei and Erik Zhang, who also lead a company called Onchain. They are experienced and trusted.
  • Liquidity: NEO is generally sitting in the top 25 at Coinmarketcap, making for a highly liquid asset.
  • Price Volatility: Due to the high liquidity to price relationship, you can bet that your investment will be safer and more stable than most other cryptocurrencies out there.
  • Crypto Economics: 200 million NEO will exist. 100 million NEO were created at the genesis block, 50 million were sold to early investors, and 15 million are unlocked for funding development. This means NEO’s supply is really already distributed to users, and now demand just needs to keep rising.
  • What makes NEO a good investment? Smart contract platforms are targeting a vast market. Although Ethereum is currently the worldwide leader, China is a huge market, and NEO has significant chances of leading out there. As a result, NEO is one of the best cryptocurrencies to buy if you want to hedge against Ethereum.

#8. Beam

Beam is another privacy-focused cryptocurrency making waves in the industry.

Unlike Monero, which is a more traditional blockchain project, Beam uses a new blockchain protocol called Mimblewimble.

Without getting into detail, Mimblewimble is known to help significantly with scaling the blockchain and transaction speed, all while maintaining a high level of privacy and anonymity.

Best Cryptocurrency To Buy. Source: beam.mw

  • Team: Alexander Zaidelson is the CEO of Beam and has vast experience with P2P technology. He co-founded Nareos (a P2P file-sharing company) and has served as an advisor to several other startups.
  • Liquidity: Beam has high liquidity for its relatively low market cap size, but this is good. It means investors are active and speculation is high.
  • Price Volatility: Beam’s price has been fairly consistent compared to most altcoins. But since it’s relatively new, the price can shoot up or down at any time.
  • Crypto Economics: Beam is a PoW cryptocurrency, much like Bitcoin or Litecoin. This means that people are investing in physical mining hardware, creating a foundation price for each coin to be created. Or in other words, a rough wholesale price to produce coins. There is a max supply of 262,800,000 BEAM that can ever exist. The inflation depends on block rewards; It starts at 80 coins per block, then reduces to 40 coins, and lastly, year 6 will decrease the reward to 25 coins per block. After that, there will be a halving every 4 years until the 129th year. To sum it up, inflation goes down over time. If Beam’s demand increases over time, then it can make for a nice possible price increase.
  • What makes BEAM a good crypto to buy? With Mimblewimble technology, Beam should be more scalable than other privacy-focused coins. With well-thought crypto-economics, Beam may very well be the next most promising crypto to buy in 2022.

#9. NEXO

Nexo has been gaining some attention recently. Nexo as a software is a wallet that allows users to borrow money using their coins as collateral.

On the other hand, users can also easily and instantly lend crypto and gain interest from lending.

Nexo also offers a free credit card for users and has a unique business model.

The NEXO token is one of the first securitytokens to be offered (STO) in the industry.

Best Cryptocurrency To Buy. Source: cryptopotato.com

  • Team: Kosta Kantchev is one of the leading figureheads behind Nexo. He is a co-founder of Credissimo, a leading European fintech group focused on retail lending, which is the business powering Nexo. He is a fintech veteran and early user of Bitcoin.
  • Liquidity: Nexo has enough liquidity for the average trader to enter or exit positions, but large investors may struggle to load their bags.
  • Price Volatility: So far, incredibly steady. It also has organic growth, which means that the price isn’t increasing or decreasing drastically.
  • Crypto Economics: Currently, there are less than 560,000,000 NEXO circulating with a max supply of 1,000,000,000. Since NEXO is a security token, it is also SEC-compliant and pays dividends to holders. This is a big deal for many when they decide which crypto to buy.
  • What makes NEXO a good investment? The crypto lending space is growing fast, and Nexo is one of the leading brands in the industry. Although the coin is fairly new, it offers a great way for investors to diversify their crypto assets AND earn money from their holdings through dividend payments. Nexo already has a functional product – which most cryptocurrency projects out there don’t. And the founders are very experienced in the credit industry.

#10. Cardano (ADA)

Cardano, which is competing with Ethereum and NEO, is touted to be more scalable and easier for developers to use.

It aims to be more scalable by introducing two layers of technology: one responsible for tracking balances of the ledger, and the other for transferring value.

Cardano uses two programming languages called Haskell and Plutus.

Haskell has been around since the 1980s, and is Cardano’s attempt at making it easier for developers to create decentralized applications. Plutus is the functional language built in-house by Cardano’s development team.

Best Cryptocurrency To Buy. Source: topsimages.com

  • Team: Charles Hoskinson is the co-founder of Cardano, and was a co-founder of Ethereum as well. He also leads IOHK, a leading research and development facility for blockchain technology. Charles is well equipped to make Cardano a successful venture.
  • Liquidity: Cardano regularly has high trading volumes, so you should have no worries actively trading in this market.
  • Price Volatility: Cardano has had its ups and downs. Overall, it’s more volatile than other major cryptocurrencies out there.
  • Crypto Economics: Cardano has a max supply of 45,000,000,000 and a current supply of ~31,000,000,000. It uses a Proof-of-Stake (PoS) consensus algorithm.
  • What makes ADA a good investment? All in all, Cardano is a good cryptocurrency today because it’s another way to hedge against Ethereum. It may not be as promising as NEO or Ethereum itself, but it has potential and is worth keeping an eye on at least.

#11. ENJIN (ENJ)

Enjin is a fascinating use case for blockchain technology. The company’s entire goal is to bring gaming (esports, VR, social, etc.) to blockchain.

This means that gamers can own assets from their games.

Imagine playing games and, when the game is over, you can sell those assets to other players.

You can also buy and collect in-game items from your favorite players and top Twitch champions. Wait for them to increase in value or sell them right away. The choice is yours.

Another amazing feature of Enjin is their Multiverse. The concept is incredible: players will be able to play one game and then transfer their character, assets, winnings, and other items to an entirely different game made by a whole different game developer!

Best Cryptocurrency To Buy. Source: enjin.io

  • Team: Maxim Blagov and Witek Radomski are the CEO and CTO, respectively. They started the company twelve years ago, before Bitcoin and blockchain. They’re among the first people to understand the power of blockchain in gaming and have pivoted their company for outstanding success.
  • Liquidity: ENJ regularly has high trading volumes since it’s regularly in the top 100 coins, so you should have no worries actively trading in this market.
  • Price Volatility: ENJ has had its ups and downs. I would say it is moderately volatile.
  • Crypto Economics: Enjin has a max supply of 1,000,000,000 and a current supply of 821,195,954. It’s based on Ethereum, so it uses its blockchain.
  • What makes ENJ a good investment? eSports are the future of competition, streaming, and gaming in general. Asset ownership and gaming is also a natural fit. Enjin is the first company to pioneer blockchain technology in the gaming industry, and thus, has strong momentum and skills. This makes it one of my top cryptocurrencies to buy today.

How To Avoid Cryptocurrency Scams

Scammers are always finding new ways to steal your money using cryptocurrency.To steer clear of a crypto con, here are some things to know.

  • Only scammers demand payment in cryptocurrency.No legitimate business is going to demand you send cryptocurrency in advance – not to buy something, and not to protect your money. That’s always a scam.
  • Only scammers will guarantee profits or big returns.Don’t trust people who promise you can quickly and easily make money in the crypto markets.
  • Never mix online dating and investment advice. If you meet someone on a dating site or app, and they want to show you how to invest in crypto, or asks you to send them crypto, that’s a scam.

Spot crypto-related scamsScammers are using some tried and true scam tactics — only now they’re demanding payment in cryptocurrency. Investment scams are one of the top ways scammers trick you into buying cryptocurrency and sending it on to scammers. But scammers are also impersonating businesses, government agencies, and a love interest, among other tactics.

Investment scamsInvestment scams often promise you can “make lots of money” with “zero risk,” and often start on social media or online dating apps or sites. These scams can, of course, start with an unexpected text, email, or call, too.And, with investment scams, crypto is central in two ways: it can be both the investment and the payment.

Here are some common investment scams, and how to spot them.

  • A so-called “investment manager” contacts you out of the blue.They promise to grow your money — but only if you buy cryptocurrency and transfer it into their online account. The investment website they steer you to looks real, but it’s really fake, and so are their promises. If you log in to your “investment account,” you won’t be able to withdraw your money at all, or only if you pay high fees.
  • A scammer pretends to be a celebrity who can multiply any cryptocurrency you send them.But celebrities aren’t contacting you through social media. It’s a scammer. And if you click on an unexpected link they send or send cryptocurrency to a so-called celebrity’s QR code, that money will go straight to a scammer and it’ll be gone.
  • An online “love interest” wants you to send money or cryptocurrency to help you invest.That’s a scam. As soon as someone you meet on a dating site or app asks you for money, or offers you investment advice, know this: that’s a scammer. The advice and offers to help you invest in cryptocurrency are nothing but scams. If you send them crypto, or money of any kind, it’ll be gone, and you typically won’t get it back.
  • Scammers guarantee that you’ll make money or promise big payouts with guaranteed returns. Nobody can make those guarantees. Much less in a short time. And there’s nothing “low risk” about cryptocurrency investments. So: if a company or person promises you’ll make a profit, that’s a scam. Even if there’s a celebrity endorsement or testimonials from happy investors. Those are easily faked.
  • Scammers promise free money. They’ll promise free cash or cryptocurrency, but free money promises are always fake.
  • Scammers make big claims without details or explanations.No matter what the investment, find out how it works and ask questions about where your money is going. Honest investment managers or advisors want to share that information and will back it up with details.

Before you invest in crypto, search online for the name of the company or person and the cryptocurrency name, plus words like “review,” “scam,” or “complaint.” See what others are saying. And read more about other commoninvestment scams.

Business, government, and job impersonators

In a business, government, or job impersonator scam, thescammer pretends to be someone you trust to convince you to send them money by buying and sending cryptocurrency.

  • Scammers impersonate well-known companies.These come in waves, and scammers might say they’re from Amazon, Microsoft, FedEx, your bank, or many others. They’ll text, call, email, or send messages on social media — or maybe put a pop-up alert on your computer. They might say there’s fraud on your account, or your money is at risk — and to fix it, you need to buy crypto and send it to them. But that’s a scam. If you click the link in any message, answer the call, or call back the number on the pop-up, you’ll be connected to a scammer.
  • Scammers impersonate new or established businesses offering fraudulent crypto coins or tokens.They’ll say the company is entering the crypto world by issuing their own coin or token. They might create social media ads, news articles or a slick website to back it all up and trick people into buying. But these crypto coins and tokens are a scam that ends up stealing money from the people who buy them.Research online to find out whether a company has issued a coin or token. It will be widely reported in established media if it is true.
  • Scammers impersonate government agencies, law enforcement, or utility companies.They mightsay there’s a legal problem, that you owe money, oryour accounts or benefits are frozen as part of an investigation. They tell you to solve the problem or protect your money by buying cryptocurrency. They might say to send it to a wallet address they give you — for “safe keeping.” Some scammers even stay on the phone with you as they direct you to a cryptocurrency ATM and give step-by-step instruction on how to insert money and convert it to cryptocurrency. They’ll direct you to send the crypto by scanning a QR code they give you, which directs the payment right into their digital wallet — and then it’s gone.
  • Scammers list fake jobs on job sites.They might even send unsolicited job offers related to crypto like jobs helping recruit investors, selling or mining cryptocurrency, or helping convert cash to crypto. But these so-called “jobs” only start if you pay a fee in cryptocurrency. Which is always a scam, every time. As your first task in your “job,” these scammers send you a check to deposit into your bank account. (That check will turn out to be fake.) They’ll tell you to withdraw some of that money, buy cryptocurrency for a made-up “client,” and send it to a crypto account they give you. But if you do, the money will be gone, and you’ll be on the hook to repay that money to your bank.

To avoid business, government, and job impersonators, know that

  • No legitimate business or government will ever email, text, or message you on social media to ask for money. And they will never demand that you buy or pay with cryptocurrency.
  • Never click on a link from an unexpected text, email, or social media message, even if it seems to come from a company you know.
  • Don’t pay anyone who contacts you unexpectedly, demanding payment with cryptocurrency.
  • Never pay a fee to get a job. If someone asks you to pay upfront for a job or says to buy cryptocurrency as part of your job, it’s a scam.

Blackmail scamsScammers might send emails or U.S. mail to your home saying they have embarrassing or compromising photos, videos, or personal information about you. Then, they threaten to make it public unless you pay them in cryptocurrency. Don’t do it. This is blackmail and a criminal extortion attempt. Report it to theFBIimmediately.

What To Know About Cryptocurrency

What is cryptocurrency?

Cryptocurrency is a type of digital currency that generally exists only electronically. You usually use your phone, computer, or a cryptocurrency ATM to buy cryptocurrency. Bitcoin and Ether are well-known cryptocurrencies, but there are many different cryptocurrencies, and new ones keep being created.

How do people use cryptocurrency?

People use cryptocurrency for many reasons — quick payments, to avoid transaction fees that traditional banks charge, or because it offers some anonymity. Others hold cryptocurrency as an investment, hoping the value goes up.

How do you get cryptocurrency?

You can buy cryptocurrency through an exchange, an app, a website, or a cryptocurrency ATM. Some people earn cryptocurrency through a complex process called “mining,” which requires advanced computer equipment to solve highly complicated math puzzles.

Where and how do you store cryptocurrency?

Cryptocurrency is stored in a digital wallet, which can be online, on your computer, or on an external hard drive. A digital wallet has a wallet address, which is usually a long string of numbers and letters.

Leave a Reply

Your email address will not be published.