It does not seem that long ago that Bitcoin was laughed at, and people who invested hid behind handles. A lot has changed since then, with cryptocurrency becoming quite popular. It is an alternate form of payment recognized by many companies, and governments are even allowing it to be used for retirement funds. There are hundreds of different types of digital coins available because it is based on open-source code, but they all run virtually the same.
What is Cryptocurrency?
Cryptocurrency is a form of digital money that is secured via a source code or cryptography. People cannot counterfeit it, but it can be stolen if other people know the passkeys. They are based on a blockchain and are not governed by any central authority. With that said, the taxation departments have the power to state whether funds can be used for taxable or tax-free items.
How Cryptocurrency Works with SMSF
The Australian Taxation Office decided in 2014 that people could use cryptocurrency to invest in Self-Managed Super Fund (SMSF) accounts. Accounts must follow a few guidelines to qualify.
- Trust deeds allow for cryptocurrency.
- The investment strategy is followed.
- Held in the fund’s name, not the individuals on the deed.
- Properly valued.
Maintaining the Value of Currency
Unlike physical money, the value of cryptocurrency can rise and fall based on supply and demand. It works a lot like stocks, but it can inflate a lot higher. It is viewed as a high-risk investment because it is only secured via passkeys and prone to hacking. Using cryptocurrency offers you a way to diversify your funds, so make sure you do your research to reduce potential risks.
How Do I Buy and Sell Cryptocurrency with SMSF?
The only way to buy and sell cryptocurrency is through a digital wallet. They act like secure bank accounts that only handle virtual currency. In addition to a digital wallet, you will need an account with the crypto exchange associated with your selected currency form. These exchange sites are equivalent to a broker’s account that handles blockchain coins. There are dozens of wallets and exchange programs to choose from, so talk to a financial advisor to make sure you use a suitable company for large SMSF investing. Hot wallets are not a good option for storing large amounts of money, as they are more prone to attacks. However, cold storage options are secure and are compliant with all SMSF regulations. You will also need to keep your SMSF funds separate from your personal cryptocurrency. Therefore, it is best to have a hot wallet for your personal funds and store your investment funds in a cold storage option accessible offline with a private key.
Selecting the Best SMSF for Cryptocurrency
Financial advisors help people of all experience levels with making transactions with SMSF accounts. You will have additional trading fees that are on top of any account fees you pay. However, it is best to let them handle the record-keeping to make sure it is simple, accurate, and transparent.
Australian dollars in the SMSF account can be used to purchase the cryptocurrency, and then you can transfer funds back to dollar form after selling coins. The accounts will operate just like other trust and retirement funds in every other manner. You cannot access the funds until they are mature and are subject to tax laws. Therefore, allowing professionals to assist with the SMSF investing in cryptocurrencies is the best way to keep them legal.
The Ultimate Beginner’s Guide to Crypto Investing
There are currently over 18,000 different cryptocurrencies available.
With the world of crypto growing so fast, more people are investing every day. Crypto has presented an opportunity for a lot of people to improve their financial situation, and if you want to get started, it’s important to know the first steps you should take.
For a rundown on crypto investing for beginners, keep reading.
The first thing you need to know as a cryptocurrency investor is how to buy crypto. There are many online exchanges you can use to do this. The first thing you need to do is pick an exchange that you want to use – note that some people use multiple for various reasons.
With an exchange, you’ll need to create an account. This will involve providing certain details, and some require ID for verification. Once your set up you can start buying crypto, and different exchanges provide various methods of doing this, such as credit/debit card payments, bank transfers, and p2p trading.
You can buy NuCypher, Bitcoin, Ethereum, Cardano, and other cryptos from one of the many exchanges available, then it’s generally a good idea to transfer it to a wallet to keep it secure. You can use either a soft wallet or a hard wallet depending on which you prefer.
Benefits of Crypto Investing
Many people believe cryptocurrencies are the future and will replace traditional currencies. By getting involved now, you can understand how it all works and start building your finances early.
The decentralized blockchain technology that crypto uses is widely supported. It essentially means that the currency is in control of the people that use it, rather than being managed by governments or financial institutions.
Bitcoin was created in 2009, and many of the early adopters have made huge amounts of money. One of the main reasons people invest in crypto is for the potential to increase their wealth.
This is entirely possible, just be cautious as it’s also possible to make significant losses. Do some research into any crypto before investing to make sure it’s a good choice for you.
Best Practices for Crypto Investing
Any experienced crypto investor knows that there are risks involved. To minimize risks in crypto trading, there are several things you can do.
Watch out for scams. Don’t click any links that you’re not certain of, and never send anyone details like passwords or seed phrases.
Whenever you’re thinking about investing in a cryptocurrency, don’t just blindly listen to others. Always DYOR (do your own research) so you know what you’re investing in.
Don’t panic if you make losses. Almost everyone does at some point or another – it’s just a part of investing. The best thing to do when this happens is to look at how it happened and learn from it.
The Future of Crypto Investing
Over the last decade, the use of crypto has grown massively, and it’s showing no signs of slowing down. Crypto investing has a huge amount of potential, and the sooner you start learning and getting involved, the better position you’ll be in. Just ensure you take the proper precautions, and get a good understanding of what you’re investing in.
For more crypto articles, check out some of our other blog posts.
What is Angry Pitbull Club NFT? | Details + Price
While the NFT industry is getting oversaturated with counterfeits and NFT scams, low-value NFT projects, and large blue-chip NFT collections that are unaffordable for many, it is getting harder to discover good emerging NFT projects that can retain and go up in value.
Angry Pitbull Club NFT collection
NFT collections come and go. They can shoot up value quickly just after the launch date and equally drop down in price as fast. It is challenging to know which ones are worth investing in and can hold and grow in value.
Several NFT projects either won’t sell out, cannot maintain consistent sales, or fail to keep the utility and provide value to its holders in the long run.
In this post, we will review the Angry Pitbull Club NFT collection. First, we will explain what the Angry Pitbull Club NFT collection is, its current sales volumes, features, how active they are on social media communities, and Angry Pitbull Club NFT price to see whether the collection has the potential to keep growing also in the future.
What are NFTs?
Non-fungible tokens, or NFTs, are digital things registered on the blockchain. The most popular types of NFTs are digital art, music, photography, collectibles, games, and fashion, and tweets or sports moments can be made as NFTs.
Making a file as NFT means registering a digital file on blockchain – minting. It can prove ownership without limiting the circulation of digital assets on the internet. The most popular blockchains for minting NFTs are Ethereum, Solana, or Polygon.
A piece of digital art can be shared and published anywhere; however, after each sale, its original creator can collect royalties and profits. It enables artists and creators alike to take charge of their creations by cutting out third-party intermediaries.
What is Angry Pitbull Club NFT?
Angry Pitbull Cub NFT is a verified NFT collection on the OpenSea platform, consisting of 10,000 unique digital art collectibles. Angry Pitbull Club NFT collection was first released roughly five months ago on the 23rd of December 20221. According to their Twitter profile, the creators are based in the US, Los Angeles.
Each digital Angry Pitbull NFT collectible represents belonging in their community through NFT ownership, granting them exclusive utilities, such as access to events for its holders. APC NFTs are on the Ethereum blockchain and are stored as ERC-721 tokens.
The Angry Pitbull Club collection was inspired by the commitment to saving the lives of homeless pets in the US, which is why the Angry Pitbull Club NFT project reportedly donates 10% of each initial mint sales to Best Friends Animal Society. It is a non-profit organization in the US that focuses on animal welfare, shelters, and rescue.
They are active on social media platforms, Instagram and Twitter with meme pages and have an active community. The community is managed on social media channels like Discord and Twitter. Moderators educate community members on NFTs, common NFT scams, and general chats to create a sense of belonging.
Angry Pitbull Club NFT Price
Angry Pitbull Club NFT collection sales on the OpenSea NFT platform show consistency in sales across the past months in terms of average price and volume in USD.
As of today, the 5th of May 2022, the Angry Pitbull Club NFT collection had 5.1k owners out of the entire 10k pieces and was sold 77 times in the past seven days. All time average APC NFT price was at 0.1703 ETH (roughly $480 USD) and all time sales volume 1,442.68 ETH (roughly 4,066,647 USD), floor pierce stood at 0.089 ETH (roughly $250 USD).
Is the Angry Pitbull Club NFT project likely to retain or grow in value?
Angry Pitbull Club NFT collection series was an instant success. On the day of its first release, the collection reached the top five charts in transaction volume on OpenSea. But, have they, and can they maintain their success?
Angry Pitbull Club hasn’t done as much marketing as other comparable-sized NFT projects. It drives the project through a close-knit community of followers and other NFT artists and enthusiasts. Whereas many other NFT projects turn out to be counterfeits or NFT fraud, the Angry Pitbull Club project is an excellent example of a well-functioning and inspiring NFT community that aims to provide long-term value and utility to its holders.
They encourage new sales in the future, making it a worthwhile purchase. If you wish to be a part of the community, gain access to exclusive events, and help homeless pets find a new home, Angry Pitbull Club NFTs is an excellent way.
Bitcoin Trading for Beginners
Bitcoin is a virtual currency that runs independently of any central authority or government monitoring. It instead depends on cryptography and peer-to-peer software.
What exactly is Bitcoin Trading?
Buying short and selling high is how Bitcoin trading works. Unlike investing, which requires holding Bitcoin for the long term, trading entails studying the entire business and price graphs to predict price movements. The two most common approaches for analyzing Bitcoin’s price are fundamental analysis and technical analysis.
Fundamental analysis entails estimating the price by looking at the larger picture. It examines the Bitcoin industry, information about the currency, technical advancements in Bitcoin regulations globally, and any other news or issues affecting Bitcoin’s success. This model evaluates Bitcoin’s value as a technology (independent of its current price) and significant external variables to forecast what will happen to the price. If China chooses to attempt to ban Bitcoin, for example, this study predicts a substantial price decline.
Technical analysis uses market data such as prior price movements and trading volumes to predict the price. It tries to spot pricing trends and patterns to forecast how the price will change in the future. Technical analysis is founded on the idea that price movements, regardless of what is going on in the world, convey a story that can aid you make predictions next.
It is difficult to determine which trading analysis is the best because both are right in their way. It’s the user’s choice to use the one he wants. Despite the analysis being your choice, it is necessary that the user be alert and cautious and not follow anyone or their choice of analysis blindly. As doing so might make them a victim of bitcoin scams.
Let’s learn about Bitcoin Trading for Beginners.
There are numerous techniques for trading bitcoins. However, to begin trading, one must first have a thorough understanding of the subject. It’s also crucial to understand the hazards and legislation that may apply depending on one’s jurisdiction to make choices accordingly.
- Sign up for the bitcoin exchange
Unless you already own bitcoin, you’ll need to register an account with a bitcoin exchange. You’ll need to provide personal identifying information to open an account with a bitcoin brokerage, just like you would with a stock brokerage. When making an account, you’ll be asked to provide your address, birth date, Social Security number, email address, and other Know Your Customer (KYC) requirements.
- Funding your account
After you’ve registered with a bitcoin brokerage, you’ll need to link your bank account. The majority of bitcoin exchanges accept debit cards and wire transfers. Filling your account through wire transfers is usually the most cost-effective option.
- Factors influencing bitcoin price
Identifying and anticipating the elements that drive Bitcoin’s highs and lows can help us foresee and comprehend the entire cryptocurrency market. Here are a few aspects that influence Bitcoin’s price:
- Supply and Demand: The total quantity of Bitcoin traded on exchanges is a very small percentage of the overall supply. User acceptance is one aspect that can impact Bitcoin’s price. The popularity of a currency will raise prices, while its low demand will lower its value. Due to tremendous demand and limited supply, the price of bitcoin is increasing.
- Bitcoin Rules and Regulations: The value of a coin decreases if the rules become too strict or harsh. On the other side, if they are good to the crypto industry, they can act as a booster for the overall increase. Because Bitcoin is decentralized, legislation affecting investors can directly impact the price. Fundamentally, the cost of BTC can decline if there is uncertainty over a particular government remark or decision.
- Media: Media has the most significant influence on the value of Bitcoin and other cryptocurrencies. The general public has a greater understanding of cryptocurrencies and Bitcoin due to increased media attention. This could bring in new bitcoin users. Good media coverage of Bitcoin usually drives up prices, while negative media coverage usually means lower prices.
- Competitors: While bitcoin maintains the rapport of the most valuable cryptocurrency by share value, altcoins such as Ethereum (ETH), Tether (USDT), Binance Coin (BNB), Cardano (ADA), etc. are among its key rivals. In this ever-changing context, market capitalization is another element that might affect the currency price.
- Pick a trading style and strategy.
There are four different bitcoin styles and strategies to pick from to help you trade bitcoin. They are Day Trade, Trend Trade, Hedging, and HODL.
- Day Trade: When you day trade bitcoin, you open and close a position in a single trading day. If you’re hoping to benefit from bitcoin’s short-term price changes, this method is for you. It enables you to profit from everyday price fluctuations.
- Trend Trade: Taking a position that corresponds to the current trend is trend trading. If the market is trending upwards (bullish), you will go long and go short if the market goes downwards (bearish).
- Hedging: Hedging bitcoin is taking an opposite stance to the one you currently have open to reduce your risk exposure. If you’re worried about the market moving against you, this is what you’d do.
- HODL: Buying and holding bitcoin is the ‘Hold On for Dear Life (HODL)’ strategy. Invest in bitcoin if you believe its price will rise in the long run.
- Set Bitcoin stops and limits
A stop limit promises to purchase or sell at a specific price if the stop price is met. It is not activated until the stop price is achieved, after which it becomes a limit.
You’ll need to maintain your funds on the exchange to access them if you’re actively trading BTC. However, if you’re buying cryptocurrencies to hold for the medium to long term, you should invest in a Bitcoin wallet. Bitcoin wallets come in two forms: software and hardware. Hardware wallets are completely safe since they keep your bitcoin on a hardware computer that is not connected to the internet.
But now, with many established fund recovery companies, it is easy to restore your bitcoin. These companies aim to bring justice to people who have been scammed. Hence, they will go to significant limits to ensure your bitcoin is recovered.
Bitcoin Trading is not an easy task. Knowing the trading steps to ensure safe and happy trading is necessary. Otherwise, you will fall victim to Bitcoin scams. This bitcoin trading for beginners guide will help you understand the fundamental aspects of bitcoin trading and guide you throughout the process.
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