As cryptocurrencies continue to slide in price, investors are beginning to wonder if they will ever get back to the heights seen in December. But, it’s important not to just obsess about the current price of cryptocurrencies. Experienced investors like Jordan Lindsey take the long-term view, even when short-term market results aren’t encouraging. By implementing a long-term plan, Lindsey says, you take away some of the emotion that can otherwise creep into your decision-making process.
Crypto still represents a potentially fundamental shift in the financial market. While Bitcoin is obviously the most popular crypto, and perhaps the one with the best potential to make a huge splash, there are a lot of other cryptocurrencies worth keeping your eye on.
The key with the cryptocurrency world is staying informed and on your toes. Things change weekly and even daily. Those with their finger on the pulse of the crypto world, like Jordan Lindsey, will be able to identify which technologies have the potential to cause huge changes. There is still a lot of money to be made by smart investors in the crypto world.
Coinbase Unveils Cryptocurrency Index Fund
Coinbase, a San Francisco based company, has announced that investors can now invest their cash into a crypto index fund. The index fund will contain bitcoin, ethereum, bitcoin cash, and litecoin.
Coinbase is already one of the most popular places to exchange fiat currency for cryptocurrency and this development will only lead it to gain more interest. Many people want to invest in Crypto but are not sure how to best do that. A diversified option like an index fund will appeal to many investors. At this time, only accredited investors are allowed to buy into Coinbase’s index fund.
The index fund has drawn a comparison to the Dow Jones. The beauty of the Dow Jones is that by purchasing just the index, you receive a diversified fund. Because the Dow Jones involves many companies, some with international business, you are following good investment principles by purchasing index funds. At this stage, comparing the Coinbase index to the Dow Jones is a big overstatement since it only contains four stocks. Still, it’s a very exciting idea and a great new development.
People everywhere can see the enormous potential of cryptocurrencies. The difficulty is knowing which one is going to have the biggest impact. The blockchain technology which underlies cryptocurrencies has enormous potential to disrupt many sectors. Much like with the invention of the internet, we’re still only scratching the surface of potential applications of crypto and blockchain. That’s why having a diversified portfolio of cryptocurrencies could put investors in a great position.
Co-Founder of Uber, Garrett Camp, creating his own cryptocurrency
Garrett Camp has decided to throw his hat into the cryptocurrency ring by creating a new currency named eco. Camp wants it to be a global currency that can be used for day to day purchases around the world. Sound familiar? It should, because this coin is essentially trying to achieve the same goal that bitcoin is.
But eco has a different spin on it to try and address some of the current flaws with bitcoin. For example, eco will begin with one trillion tokens initially, a move made with the hopes of making the price of each coin relative to fiat dollars less intimidating to new users.
Eco’s white paper elaborates on their specific goal and mission in creating their new cryptocurrency. They want eco to be both a store of value and medium of exchange. The white paper talks about the need to create a simple user interface as one of the goals to do that.
It’s clear from eco’s white paper that the founders of it want to create a cryptocurrency that is more user-friendly to the entire population. Obviously, not everyone is extremely adept with a computer and that can be a big obstacle to the adoption of cryptocurrency in everyday use.
However, Garrett Camp’s idea to take bitcoin and improve upon it is nothing new. There is a plethora of coins in the cryptocurrency market that hope to do the exact same thing. It will be interesting to see if over time any of these coins will overtake bitcoin as the most popular cryptocurrency. Another interesting development that’s aimed at improving the way bitcoin works is the Bitcoin Growth Bot by founder Jordan Lindsey. You can learn more about it on this wiki.
Elon Musk Fans Scammed on Twitter
With hugely blossoming interest in the field of cryptocurrency, scam artists are on the hunt trying to take advantage. When it comes to scams—crypto or not—the same age-old adage holds true: if it sounds too good to be true, it is.
Fans were ripped off when a twitter account posing as Elon Musk responded to a SpaceX post by claiming he would give away free ethereum to anyone who sent a small amount of ethereum to him to verify.
The scam fooled many people because, if you only glance quickly, it looks like it is genuinely Elon Musk posting the reply. But the easy way to check if it is really Elon is by looking for the blue check mark next to his name that indicates a verified account. The check was missing from the fake Musk account.
The scammers also utilized bots who responded to the post and made it seem more believable.
The take-home message here is that you need to be careful and mindful in the cryptocurrency sphere. Stay in tune to the market by following people like Jordan Lindsey. Lindsey is a long-time forex trader who has turned his attention to the cryptocurrency markets. He provides current and accurate information on the state of the crypto market on his YouTube channel. Lindsey focuses on long-term strategies to maximize returns and is personally invested in cryptocurrency, so you don’t have to worry about any false information coming from him.
All the Latest in Crypto
As the crypto market continues to change and develop, it is the most informed who will prosper in trading on it. Take care to carefully assess where the information you are using comes from. The more popular crypto becomes the more people will jump into the field. But, as mentioned earlier, Jordan Lindsey is one of those sources you can count on. He’s been trading currency for decades and he’ll continue to do so for years to come, so you know the information coming from him will have lasting value.