How to become an expert digital asset investor in 2020

Are you investing effectively in digital assets? These handy resources will show you how to do it right to maximize your investments.

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How to become an expert digital asset investor in 2020

Resources

Key quotes:

  • "Fidelity, the US-based asset- management firm with over $6 trillion under administration, has just announced that it will be offering a custody service for Digital Assets"
  • "Meanwhile, in Germany, the law firm, Freshfields, is highlighting that “crypto custodian businesses’ — defined as businesses involved in the ‘holding, managing and safeguarding of crypto assets or private cryptographic keys that serve to hold, store and transfer crypto assets’ — to have the appropriate financial services licence to operate”"
  • "A PWC report, compiled with the asset manager Elwood, stated it was access to custody services that is a growing need for hedge funds, high-net-worth individuals, and financial institutions as they expand their Cryptocurrency holdings"
  • "Baanx offers a low-cost white-label service for institutions to offer Crypto assets to their clients"
  • "Unlike many other Crypto services Baanx account-opening procedures are very simple and user friendly, which is vital in order to get the public engaged more fully with Digital Assets"
  • "SEBA is offering institutional banking facilities for those who wish to open an account with the crypto bank"
  • "Institutional demand for Digital Assets is further supported by a survey conducted by SIX (the Swiss Stock Exchange) which found that 66% of traders are seeing growing interest from clients who wish to have exposure to this new asset class."
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Key quotes:

  • "Andreas Antonopoulos, a name most crypto geeks know well, and whose course I took at the University of Nicosia’s Blockchain Initiative, said he believes the future of digital currency will comprise of “many coins, one chain.” This would mean that in the near future you’ll be able to fork and create new coins to your liking, the market itself will define what is successful, while new coins will all be interoperating"
  • "Bitcoin has proven over and over again that it functions best as a “store of value” because of the scaleability issues it faces (low capacity transaction throughput, not easily available for everyone to use.) Alt coins are being created each day that promise faster transaction times, as mentioned above, Dash, Ripple, Stellar and temtum all represent advancements"
  • "Stablecoins such as Tether USDC (backed by USD,) PAXOS (gold backed,) AND DAI (backed by ethereum) are what we should expect to be seeing more of in the near future together with corporate digital assets"
  • "The possibility does, then, exist that China’s new digital currency could likely rival the USD as an international means of payment."
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Key quotes:

  • "A United States congressman is the latest working to clarify and determine which U.S"
  • "regulator is responsible for which digital assets"
  • "On March 9, Representative Paul Gosar (R-AZ) introduced the “Crypto-Currency Act of 2020,” a bill that looks to choreograph a wide range of digital assets to answer to the appropriate regulator"
  • "As Will Stechschulte, Gosar’s legislative assistant explained “the bill looks to provide not only clarity but legitimacy to crypto assets in the United States” Gosar’s proposal divides digital assets into three categories: crypto-commodity, crypto-currency and crypto-security"
  • "Interestingly, the language of the bill would seem to cement the status of digital assets like Bitcoin as crypto-commodities rather than crypto-currencies"
  • "The classification of “crypto-currency” reads “representations of United States currency or synthetic derivatives” — more reminiscent of stable coins like Tether (USDT)"
  • "The language behind crypto-securities remains familiar: “all debt, equity, and derivative instruments that rest on a blockchain or decentralized cryptographic ledger.” As to non-fungible tokens, the bill makes no mention"
  • "We chose to gather stakeholder support before working toward cosponsors.” The past year has seen a number of new draft bills.The nearest peer to Gosar’s new bill is, however, Warren Davidson’s (R-OH) Token Taxonomy Act, initially introduced in 2018 and later updated and re-introduced in April 2019."
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Key quotes:

  • "Those who are just coming into the space may be more susceptible to relying on bad investment advice or potential crypto scams"
  • "If you’re looking to improve your crypto knowledge and safety in this next decade, let’s take a look at what you should be wary of as we enter the new year"
  • "When you pay attention to the noise that tells you Bitcoin is going to reach $30,000 in 2020 or that the entire crypto ecosystem is going to completely fall apart, you put yourself at risk of losing the money that you have invested"
  • "2"
  • "Potential Security Hacks and Scams Where there is money, there is the opportunity for malicious characters to come in and find a way to steal it from others"
  • "Although these issues are bad enough on their own, there are always new scams being invented to steal away crypto from investors"
  • "When it comes to new platforms that are promising profits or offering their services, approach with caution and only invest if you feel safe"
  • "While the cryptocurrency industry has certainly come a long way from when it first began, there are still some dangers for both new and experienced investors."
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Key quotes:

  • "Cryptocurrency is one of the most exciting technologies in the world today, moving further and further in the mainstream consciousness every year, and looking to redefine the way that global trade is conducted and how the something is determined to have value"
  • "Although today there are millions of people who use one of the thousands of different cryptocurrencies that have been created, it wasn’t always like this"
  • "Day trading is a term used in the traditional trading of assets like stocks that describes the process of making short term trades, many during the course of a day, in order to make a relatively small amount of profit compared to investing over months, but then to compound that small wins to generate a good amount of overall profit"
  • "When preparing to day trade cryptocurrencies it’s important to make sure that there are protections in place to ensure that there is the best chance possible for generating profit and the lowest chance possible to lose significant amounts of money"
  • "PrimeXBT has grown to become one of the largest cryptocurrency trading platforms in the world throughout the last 2 years, and today handles up to $950 million worth of trade each day"
  • "Day trading has always been a popular way for traders to make profit."
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