Radicle, commonly referred to as RAD, was launched in 2018 as a decentralised network for software development collaboration. Radicle was built on top of a Directed Acyclic Graph or DAG as a peer-to-peer or P2P network. Currently, Radicle offers a ton of features to users, including Ethereum integration, which comes with some amazing blockchain-based functionalities. As far as the RAD to GBP prices goes, it stands at £1.74 today.
What is RAD?

Made for computer programmers, [RAD is a platform](https://radicle.xyz/) that allows them to work on software projects together in a P2P network. However, where RAD stands out is with its accessibility. Anyone can use RAD without worrying about censorship. It is open source, comes with high security, and can be accessed even without the internet.

To elaborate, it does not require a Domain Name Service, or DNS, to function, and people can work on it even when they are offline.

Moreover, Radicle is a platform designed to facilitate collaboration between programmers without relying on centralized intermediaries. The team accomplishes this by utilizing open protocols that allow users to freely share coding projects without the need for permission from centralized code repositories, DNS hosting services, or proprietary collaboration platforms.

One of the key features of the Radicle platform is its community-driven governance mechanisms, which are partly controlled by the radicle token (RAD). The use of the ERC-20 tokenization standard ensures that users can participate in decision-making processes, and the platform can be self-governed by its community.

It is all of these features that make Radicle truly stand out and contribute to the RAD to GBP price hike. RAD is committed to empowering programmers and uplifting the community while eliminating the problem of centralized gatekeepers.

## Is RAD worth investing in?

As per a report written by CoinMarketCap, RAD currently has a ranking in the top 250 altcoins and is considered to be one of the most successful cryptos in the world. It is because of this that RAD has the interest of a lot of potential digital investors and remains steady even after the [market crash](/news/article/crypto-market-crashing).

Additionally, if users want to work using the platform, Radicle charges them a fee to use specific features or protocols. This is unless users are token holders or registered with the platform already. For token holders and registered users, the platform is completely free to use. Furthermore, people on the Ethereum network have control over the smart contracts and Radicle Treasury. 

The Radicle Treasury holds more than 50% of the total token supply, and it's controlled by Radicle Token holders through the Radicle DAO.

Encouraging token holders to hold onto their tokens can create a new way of operating, where the community owns the virtual open-source network and benefits from shared decision-making. Additionally, if users are unhappy with the network, they can voice their concerns or sell their tokens on the marketplace to leave the network.

These are all the reasons why the RAD to GBP price has not only remained steady, but is expected to go up in the long run.

## RAD price last month
 
Last month, the RAD to GBP price had increased by a whopping 4.48% and was predicted to rise even more in the coming days.

The RAD volume stood at £6,329,123. The currency's market cap was valued at £84,622,949, a 3.62% over a day. The fully diluted market cap of the coin is £173,302,554, also a 3.62% increase.

Experts say this is a good time to get your hands on the coin as it has a circulating supply of 48,829,112 and a maximum supply of 99,999,620. The RAD price is expected to stay consistent.


RAD to GBP Trading and Price 

[PlayDapp](https://playdapp.io/) is a blockchain-based gaming ecosystem that aims to make crypto assets more accessible to the public through crypto games. It also aims to lead the play-to-earn space. But is it a good investment?

The service provides a platform for users to trade gaming characters and content with a diverse portfolio of games and NFTs. It is a customer-to-customer marketplace. All games on the platform are interoperable and work across multiple chains like Ethereum, Avalanche, and [Solana](/news/article/solana-dex-labs-explained).
Some of the games on the platform include Cryptodozer, Dozerbird, Dozertreasures, Homerun Challenge, and Along with the Gods: Knights of the Dawn.

## PlayDapp SDK (Software Development Kit)

This is a developer's tool that helps developers and companies easily participate in PlayDapp’s ecosystem. It helps developers of companies struggling to build blockchain infrastructure to link their assets or digital items with straightforward system integration. When assets have been designated as blockchain-based [NFTs](/news/article/nft-collaborations), they can be exchanged with other games in the gaming ecosystem.

## PLA

This is the native utility token of PlayDapp. It is an ERC-20 token and the primary payment method in its ecosystem. Gamers can use it to buy NFTs and other gaming items.

As of March 2023, the token is worth $0.2071, according to [Coinmarketcap](https://coinmarketcap.com/currencies/playdapp/). It is ranked the 244th largest cryptocurrency globally, with a live market cap of $137,944,484.

If you are considering investing in the token, it is listed on several crypto exchanges, including Binance, Coinbase, Bitrue, and BingX. It can also be earned by participating in prize events; developers earn tokens after each in-game purchase or trade.

The tokens have a max supply cap of 700,000,000 PLA coins. There are currently 537,855,941 in public circulation.

## Price history

PLA entered the crypto market in October 2020, priced at $0.17. It, however, struggled to break through $0.20 for the remainder of the year.

2021 was a good year for the token. On 17 February, it hit its first high of $0.73. The price appreciation was attributed to the launch of CryptoDozer, the first game to be launched on the platform.

It continued to enjoy a bullish run and reached several highs in the following months.

Again, its price highs were attributed to announcements including its plans to go into the NFT sector and Metaverse.

On 8 July, PlayDapp launched its second game, the Dozerbird, on the Google Play store Japan, which again helped with token price appreciation.

On 31 October, 2021, the token experienced its all-time high of $3.68, attributed to the launch of the game "Along with the Gods: Knights of Dawn" in 170 countries and a new NFT auction feature. Despite its good start, PLA ended 2021 worth $1.43.

The token began 2022 trading at $1.43. However, by the end of January, it was worth $0.9292. In early February, it traded above $1, only to be worth $0.9694 by the end of the month. By 25 March, it was up to trading above $1. The last time it traded above $1 in 2022 was 6 April, when it was $1.11.

It began 2023 worth $0.1342. By the end of January, it was worth $0.2274. Considering its current price, the token has been showing some noteworthy price appreciation.

## Is PlayDapp a good investment?

Is PlayDapp a good investment option? There are many reasons to answer 'yes'. Firstly, it is an ambitious project that continues to make strides to realize its goals for the gaming community. Since its launch, it hasn't experienced any worrisome setbacks.

Secondly, it’s backed by a great team of developers, operators, marketers, and designers. Sang Chung is currently the head of business of the company. He previously worked at NCSOFT, a world-leading gaming publisher.

Donny is the company’s head of development. He joined PlayDapp with close to 20 years of experience in the IT industry. Kai is the company's head of tournament. He is another veteran in the Korean Gaming industry.

It has also entered many strategic partnerships that continue to help grow its user base and offer more services to gamers. The project has, for example, signed strategic partnerships with IPX (formerly Line Friends), a digital IP platform, JBD entertainment, Hancom Inc, Redbrick, and KB Kookmin Card.

The latest news reveals that the gaming ecosystem bought [ProudNet](https://www.crypto-news-flash.com/playdapp-buys-proudnet-to-bring-reliable-secure-technology-to-us-game-market/), a renowned peer-to-peer server network provider, to enable it to tap into the US gaming market.

As for the PLA token, several crypto prediction platforms view it as a good long-term investment option. 

Bitcoinwisdom predicts the token might trade at an average price of $0.367555 in 2023, $0.577615 in 2024, $0.841534 in 2025, and $1.10 in 2026. Those who hold the tokens even longer might see them trade at an average price of $2.47 in 2031, according to the prediction site.

Technewsleader predicts PLA might trade between $0.37 and $0.41 in 2023, $0.54 and $0.64 in 2024, $0.77 and $0.93 in 2025, and $1.08 and $1.33 in 2026. The site predicts that the longer you hold on to the tokens, the better it may be. According to the site, the tokens might trade between $4.38 and $5.36 in 2030.

According to Priceprediction, PLA tokens might trade at an average price of $0.36 in 2023, $0.50 in 2024, $0.73 in 2025, and $1.02 in 2026. Those who hold to the tokens even longer might see them trade at an average price of $4.89 in 2030, $6.96 in 2031, and $9.92 in 2032, according to the site.

Not all platforms predict a promising future for PLA tokens. WalletInvestor, for example, argues against investing in the tokens. According to the site, PLA might trade at an average price of $0.02 in 2023 and 2024, $0.03 in 2025, and $0.01 in 2026. The tokens have no possibility of ever trading above $1, according to the site.

## Conclusion

Is PlayDapp a good investment? It is a great project that looks to revolutionize the gaming industry. So far, it has lived up to many people's expectations, making it worth looking into.

Its native utility token, PLA, also stands out as a cryptocurrency worth paying attention to. Several crypto prediction platforms view it as a good long-term investment option, despite its current market price.

Before investing in any crypto project or asset, always do your research.


Is PlayDapp a Good Investment 

According to the documents filed in bankruptcy court by Genesis Global and its associated organizations, the parent company, Digital Currency Group (DCG), owes its subsidiaries more than $1. 65 billion.

The holding firm Genesis Global Holdco (GGH), the lender Genesis Global Capital (GGC), and Genesis Asia Pacific are the three organizations that have sought protection under bankruptcy laws (GAP).

## DCG owes subsidiaries more than $1.65 billion

[A declaration](https://www.coindesk.com/business/2023/01/20/digital-currency-group-owes-subsidiary-genesis-global-over-165b/) was filed at the end of January with the bankruptcy court of the Southern District of New York (SDNY) by Paul Aronzon, a member of a special committee of the board of directors of GGH, the holding company of the Genesis Global entities. It said that DCG's debt to Genesis includes loans of $575 million, due in May of this year, and a $1.1 billion promissory note due in June 2032.


The special committee is investigating the lending operations between GGC and DCG to evaluate whether or not the defunct companies have any legitimate claims against DCG connected to these transactions that could benefit the restructuring process.


Lev Dassin, a former acting US Attorney for New York's Southern District, is in charge of the investigation by the legal firm Cleary Gottlieb Steen & Hamilton LLP, which also represents Genesis in the proceedings.


To be more specific, the investigation is looking into the lending of "approximately $850 million in unsecured loans to the DCG entities, the DCG (promissory) note, various transactions that restructured the $850 million in unsecured loans in November 2022, and DCG's purported exercise of a $52.5 million set-off in November 2022.


Additionally, the committee is looking at potential avoidance actions and the different types of actions that can be taken around DCG entities, Gemini Trust Company, LLC, and other Genesis lenders.


When a debtor takes action to avoid or annul certain fund transfers before filing for protection under Chapter 11, this is known as an avoidance action. The January filings are another chapter in a series of high-profile failures that have shaken the cryptocurrency industry over the past year.


These failures include the implosion of the Terra cryptocurrency exchange and the collapse of the FTX cryptocurrency exchange. Genesis became entangled in the failures of the hedge fund Three Arrows Capital and FTX. Both of these businesses eventually went bankrupt. Genesis was compelled to restrict withdrawals in its lending unit shortly after FTX filed for Chapter 11 bankruptcy in November. 

Gemini, [the cryptocurrency exchange](/news/article/crypto-exchange-gemini-cuts-staff) owned by Cameron and Tyler Winklevoss, was a key customer of Genesis's lending business and was one of the reasons for the suspension. Since then, CEO Cameron Winklevoss has been running an open campaign against Genesis, DCG, and the company's CEO, Barry Silbert.

Before it filed for protection under Chapter 11, Genesis Global had attempted to obtain new cash or negotiate a settlement with its creditors. According to the documents filed in the bankruptcy case, the corporation owed $3.5 billion to its top 50 creditors.

genesis global logo over red image of man in debt

Genesis Global: A Closer Look

How does crypto trading work? Before we get on to the mechanics, let's ensure we understand what cryptocurrency is.

Cryptocurrency, or crypto, is any digital or virtual currency that uses cryptography to secure transactions. These are free of central issuing or regulating authority and rely on a decentralised system to record transactions.

Cryptocurrencies are slowly but steadily taking over the world, and the market has grown enormously in recent years. Since the launch and introduction of Bitcoin, its rapid growth, and its value surpassing that of gold, ensured a surge in consumer interest.

Cryptocurrency payments exist solely as digital records to an online database describing specific transactions rather than as physical money carried around and exchanged in the real world. 

Crypto makes use of encryption to verify transactions. Encryption aims to ensure security and safety. Transactions involving cryptocurrency funds are stored in a public ledger. Advanced coding is required to store and transmit cryptocurrency data between wallets and public ledgers.

## How does crypto trading work?

The act of speculating on digital coins' price and value fluctuations is known as crypto trading. One crypto trading method uses a digital wallet to buy and sell cryptocurrencies on an exchange, where current market rates determine their value. Similarly to the stock market, you can profit if you buy a cryptocurrency and sell it for a higher price than you paid.

Another popular method of crypto trading is CFDs (contracts for difference). It is a much more sophisticated trading strategy employed mainly by experienced investors. You do not own the underlying asset if you trade cryptos as CFDs. 

Instead, a contract is formed between the buyer and seller where they agree to exchange the difference in value between the contract's opening and closing dates.

## How to trade cryptocurrency?

As we continue to answer the question 'how does crypto trading work', let's take a look at the six steps to crypto trading.

### Step 1: Open an account with a crypto brokerage.

Leading crypto brokerages on the market include [eToro](/news/article/etoro-fees), Uphold, and [WeBull](https://www.webull.com/). All three options provide a simple user interface and a wide range of alternative coins.

To open an account, you must provide your crypto brokerage with personal identification information, just as you would with a stock brokerage. When creating an account, you must provide details such as your address, social security number, email address, and date of birth.

### Step 2: Add money to your account.

After registering with a cryptocurrency brokerage, you'll need to attach your bank account. Most crypto brokerages accept bank funding via debit cards and wire transfers. ACH deposit (linked bank account transfer) is usually the cheapest way to fund your account because it is free on most platforms.

### Step 3: Select a crypto coin in which to invest.

Most active cryptocurrency traders put a handsome amount of money into Bitcoin and Ethereum because these cryptos are more predictable than smaller altcoins.

Many crypto traders invest a portion of their funds in smaller altcoins. Although small and mid-cap cryptos are riskier than large-cap cryptos, they have more significant upside potential. Many small altcoins have increased by more than 1,000% in months, making them appealing investments for risk-averse investors.

### Step 4: Pick a plan of action.

Many different trading indicators are available, and most traders consider several other factors when buying and selling cryptocurrencies. If you're new to investing, consider investing in a cryptocurrency trading course.

If you're an experienced trader, you can use a stock trading strategy. The same stock trading techniques are frequently applied to cryptocurrencies. Elliott Wave Theory is a popular trading method that many traders employ. Elliott Wave Theory is especially effective for speculative assets like cryptocurrencies because it focuses on the psychology underlying market sentiment.

### Step 5: Consider automated crypto trading.

You may consider automated crypto trading when looking for a crypto trading strategy. Trading bots implement a strategy designed to produce the best results possible, given your investment objectives. You can make money quickly, hold coins, or diversify your portfolio because automated trading provides a conservative, neutral, or aggressive method.

Consider trading cryptocurrency actively on some platforms while using automated trading on others.

### Step 6: Store your cryptocurrency

You must store your money on the exchange to have access to it if you're actively trading cryptocurrencies. Get a [cryptocurrency wallet](/news/article/best-crypto-wallet) if you plan to hold your cryptocurrency for the medium to long term.

Digital wallets and hardware wallets are both options for cryptocurrency wallets. Both are safe, but because hardware wallets store your cryptocurrency on a physical, offline device, they provide the highest level of security.

Many investors rely on the Ledger Nano S hardware wallet to store their crypto assets. It has an OLED display for clear viewing and two buttons for confirming or rejecting transactions. This highly secure hardware can support more than 1,100 crypto coins and other digital assets.

[MetaMask](/news/article/what-is-metamask) Wallet is a widely regarded software wallet available to cryptocurrency traders. Because it is an open-source wallet, there is no signup fee for creating your wallet. MetaMask best suits the Ethereum [blockchain](/news/article/what-is-blockchain) and can handle ERC-20 and Ethereum tokens. It is also a beginner-friendly wallet because managing coins is simple with this wallet. Furthermore, if you use a Ledger hardware wallet, you can easily integrate MetaMask with them.

## How do you choose which cryptocurrency to trade?

Although there isn't a single best cryptocurrency, there might be one that is best for a particular use case. For instance, Bitcoin is seen as the best crypto to use as a store of value assets due to its high adoption and limited 21 million coin supply.

Most cryptocurrencies with small market caps either have dubious use cases or have fallen short of their promises. Cryptocurrencies with smaller market caps tend to be riskier than those with larger ones, like Bitcoin and Ethereum.

Investing in cryptocurrencies with a strong team behind them is critical. It is best to read the whitepaper of a cryptocurrency to learn more about it. This will explain how the cryptocurrency works and what it is intended for.

Metaverse cryptocurrencies have been a popular asset class since the beginning of 2022. Tokens such as MANA and SAND are in-game currencies for the blockchain-based metaverses [Decentraland](/news/article/mana-to-gbp) and [The Sandbox](/news/article/mana-to-gbp).

Furthermore, conducting your research before investing in any crypto is always advised. The cryptocurrency market is highly volatile and can offer you rapid growth or sudden fall, for example, the Terra Luna collapse.

## What are the risks involved with crypto trading?

Before investing in cryptocurrency, you should be aware of its volatile nature, potential market and technology risks, and cybersecurity threats. The following sections will cover the potential risks of crypto trading.

1.      High volatility
One of the factors moving the crypto market is volatility. If you're unfamiliar with the term volatility, it refers to rapid shifts in market states that can result in significant and volatile price movements.

Volatility isn't just a concern for the cryptocurrency market. There are several reasons for the asset class's high volatility, including its nascent schematics compared to other investment forms. They can be seen in other financial spaces, but the intensity and spread are more significant in cryptocurrency.

2.      Market risks
Crypto assets are vulnerable to market volatility. There are two kinds of risks in cryptocurrency trading: systematic and unsystematic. Because crypto is inherently risky, the systematic risk exists in all cryptocurrencies. Unsystematic risk is specific to a single crypto asset.

3.      Technology risks
The blockchain technology that underpins cryptocurrency is built with numerous security measures, such as decentralisation, cryptography, and consensus mechanisms, to ensure that transactions are legitimate. However, no blockchain is invulnerable to all threats.

Backing up and storing your crypto wallet regularly helps protect you against computer failure, device theft, and mistakes, such as unintentionally uninstalling your digital crypto wallet. However, it is more difficult to protect against threats such as software bugs, data errors, and attacks (in which a group of crypto miners seizes control of more than half of a network's computing power).

4.      Cybersecurity threats
While cryptocurrency may herald the dawn of a new era, it also has a less-publicised counterpart: cybercrime. Since cryptocurrencies are fully decentralised, the crypto holders' cyber hygiene and safeguards are the number #1 priority.

"Unusual disappearances" and ransomware attacks are both complex and fast-moving threats, and newcomers to the ecosystem are frequent targets. As a result, before entering the crypto world, it is critical to be aware of these risks.
How to manage the risks involved with crypto trading?

1.      Conduct Your Research
Remember the first investment rule: 'Conduct in-depth research and invest what you can afford to lose'. This rule applies to all investments, not just cryptocurrencies. Investing without conducting research or jumping into the investment pool without consulting with an investment professional is not advised.

2.      Understand the Reward/Risk Ratio
Invest what you are willing to lose. The reward-to-risk ratio shows how much you stand to make for each unit of currency risk. A 1:1.5 ratio is thought to be reasonable.

3.      Diversify your holdings.
Investing in a variety of cryptocurrencies may aid in risk reduction. The investment is spread across several coins in a well-diversified portfolio, reducing the impact of volatility.

## Bottom line

If you've ever wondered 'how does crypto trading work', hopefully this article has given you some answers.

Cryptocurrency trading is rapidly growing. It involves both rewards and risks. It is always advised to conduct in-depth research before entering the crypto space and only invest the funds you are ready to lose.


blue image of two men trading cryptocurrency

How Does Crypto Trading Work?

Recent events in the cryptocurrency market demand that traders get acquainted with new altcoin trading tips if they want to see changes in their trading outcomes.

The last few weeks have provided plenty of drama in the cryptocurrency market. This has added further stress to traders who have seen positions dwindle since the market crash that started in November 2021. We have not seen many upsides lately, so traders have been limited to clutching at straws, especially after the collapse of the second-largest crypto exchange.

## What is altcoin trading?

There is a distinction between altcoin trading and altcoin investing. Those who invest in altcoins typically hold them for an extended period to ride out any storms and end up with gains at the end of the day. For instance, some altcoin investors bought into the initial coin offerings (ICOs) of 2017 and rode out the market downturn of 2017-2020, ending up with gains. This article is not tailored toward such market participants.

Altcoin trading involves buying and selling various altcoins to profit from short-term and medium-term price movements. Such traders would usually spot trade on various exchanges or prefer the riskier crypto perpetual market, where it is possible to trade on a bi-directional basis (i.e. going long and short). Altcoin traders are very actively setting up positions all the time, so they need to have their crypto coins on the exchanges all the time. As the FTX saga has proven, this introduces a new level of risk to the trader. The [altcoin trading tips](https://icoholder.com/blog/trading-altcoins/) covered here are for this category of market participants.

## Altcoin trading tips in a bearish market

How do you trade altcoins when the market is bearish as it is right now? Anyone can buy and profit when the market is bullish. But being able to profit in a bearish market is what separates kids from adults in the market. It is possible, whether you believe it or not, to work around a bearish market and trade profitably.

Since the crypto market is currently bearish, how do you go about trading altcoins in a market where prices are more likely to fall than rise? Successful trading of altcoins in any market condition requires understanding some basic principles of price action. There are other things the trader must also be familiar with. These are all mentioned in the altcoin trading tips listed below.

## Altcoin Trading Tip 1: Understand what a trend is

The concept of the trend was introduced to the trading world in a series of writings by Charles Dow, co-founder of the Wall Street Journal and creator of the Dow Jones Industrial Average. This concept forms part of what is now universally known as the Dow Theory. Charles Dow indicated that price action did not move in a straight line but, like an ocean wave, moved around in zig-zags within the context of the general tide of the ocean. 

He likened the price action in the financial markets to the movements that constitute an ocean tide. Mr. Dow indicated that a tide consists of waves, and waves are a collection of ripples. In other words, price action has smaller components. He also opined that the tides were the major trends, the waves were the secondary trend, and the ripples were the minor trends. The major trend was seen on long-term charts, while the secondary trend was the medium-term price action. Price moves on smaller time frames were said to be a minor trend.

Charles Dow also said there were three possible price directions: upward, sideways, and downward. These correspond to the uptrend, range-bound (consolidation) phase, and downtrend. The postulates of Charles Dow have formed the basis for price action analysis, and these still hold in all financial markets, including the crypto market. 

Understanding the roles of the ripples and waves in the formation of the tides will help you navigate the price moves in any market condition, including the present bearish market. So even in a bearish market, there will be periods of brief recovery, consolidation, and an extension of the downtrend. The same occurs when the trend reverses.

## Altcoin Trading Tip 2: Understand how to manage risk

Bitcoin and several altcoins have been known to produce wild price movements. When altcoins move, they move hard. The ability of your account to survive any contrary moves of the market when you have active positions is a function of risk management. Your account must live to be able to fight another day. 

The market rule is that the trader should commit at most 3% of his account size in market exposure. Some traders commit 20% or more to altcoin trades and are surprised at how fast their positions are taken out by reverse movements when trading perpetual contracts. It is better to aim for incremental profits than to target home runs.

## Altcoin Trading Tip 3: Trade what you are familiar with

From this writer's observations, there are altcoins with a reputation for heavy price movements. These are:

1.	Recently listed altcoins (Luna2, Aptos, etc).

2.	Altcoins linked to BTC when the latter is moving quickly (Fantom, Loopring, Yield Finance, Ripple, Litecoin, Bitcoin Cash).

3.	Recently, tokens directly linked to FTX, such as [Solana](/news/article/solana-to-gbp-conversion).

The price movements of these altcoins are very rapid when there is extreme volatility. If you are not familiar with the extreme volatility that can come with trading these altcoins, you are better off avoiding them - trade only familiar tokens. Try to research some altcoins and understand how their price moves play out. Then trade them on a practice account until you are familiar with them.

## Altcoin Trading Tip 4: Have a strategy and stick to it

No piece on altcoin trading tips will be complete without mentioning the role of having a strategy in successful altcoin trading. You must have a strategy and stick to it. A strategy is usually conditions that must be fulfilled on the charts for a trade entry and exit to be validated. Having one introduces the element of discipline and allows you to filter trade conditions properly.

A strategy must include additional elements such as risk management and risk-reward ratios. You must also develop the appropriate psychology when trading. Know when to keep trading even after a loss and when to walk away. Do not force your entries or exits.

You can get a programmer to create a bot that embodies your strategy elements so that trades only become active when you meet the strategy parameters.

## Altcoin Trading Tip 5: Don't make your stops too tight

Setting tight stop losses is a sure way to lose your account. If you set your stop too tight, the market move could trigger that stop before the trade moves in your direction.

Why do traders set their stop losses too tight? It is usually due to the fear of losing. This fear of loss comes from taking on too much risk. If the trader decides to reduce risk exposure to a minimum, it will allow for a more generous stop placement that enables the trade to breathe. If the trade ends up being a loser, the lower risk will also reduce the scale of losses. The price action only sometimes takes off in the trader's preferred direction. It may enter negative territory (the drawdown) before it becomes positive.

## Altcoin Trading Tip 6: Know how to identify support and resistance

Support is a price at which selling pressure starts to dry up. Resistance is a price at which buying pressure starts to fade. From this definition, it is clear that a support level/zone is a potential buy area. In contrast, a resistance zone/level is a potential point to sell or exit existing long trades.

Knowing how to identify support and resistance areas will help you not stay in altcoin trades for too long. It will also help you get better entries and exits for your trades. Recall that altcoins make rapid moves in wide ranges when the crypto market is volatile. You want to avoid seeing a profitable position start to reverse against you because you did not exit at the right point. You also want to enter early enough to catch a decent move.

The identification of support and resistance will eliminate such mistakes. Standard support and resistance tools include trendlines, pivot points, channels, and Fibonacci price levels.

## Altcoin Trading Tip 7: Avoid long trading breaks

Do not allow yourself to get "trade rusty". In soccer, there is a phenomenon known as match rustiness. In boxing, it is known as ring rust. It is a well-known fact that taking extended breaks from an activity that requires repetition to attain perfection results in a loss of cutting edge because of the inactivity.

If you take long breaks from trading, you start to lose a dimension of your edge. If you have had a string of bad results, you should stop trading a live account and switch to a demo to retain an element of your mental affinity for trading.

## Conclusion

The altcoin trading tips discussed above only represent part of the gamut of what you need to do to remain a consistent altcoin trader. However, if you can incorporate several of these altcoin trading tips into your day-to-day trading activity, you will see positive changes in your trading career.


Altcoin Trading Tips

Key takeaways on why Aptos crypto is a good investment case for 2023 and beyond:

•	Based on Web3 technology, which is the future of the blockchain.

•	Aptos blockchain is built to provide a low latency, high throughput system which caters to different use cases and is resource-constraint-tolerant.

•	[Several projects are signing up to the Aptos platform](https://cryptotvplus.com/2022/10/5-nft-projects-on-the-aptos-blockchain/), deepening Web3’s adoption.

## What is the Aptos crypto all about?

The Aptos crypto token APT was listed on some exchanges in October 2022. A month later, the second largest crypto exchange, [FTX](/news/article/ftx-bankrupt-who-to-blame), collapsed. The scandal continues to unfold, and the public is learning more about how the lack of proper management brought that exchange to its knees. The damage to the crypto market is undeniable. As the FTX saga has clearly shown, there is much folly in simply speculating on tokens with no structure or foundation. 

This event may have a silver lining and will allow crypto enthusiasts to move away from the speculative activity on crypto tokens and get back to the essence of the blockchain. Aptos's Web3 offering is one project that can take the crypto industry in the proper direction and create value for stakeholders in this ecosystem.

The Aptos blockchain is a project that aims to promote rapid adoption and deployment of Web3 technologies using cloud infrastructure. Based on the Move language, Aptos presents a new way of designing smart contracts and enhancing system security and decentralization of blockchains.

Decentralization is at the very core of the Aptos network. Web2 versions of internet-based services feature a lot of centralization, where companies control the data and decide who can be on their platforms. This opens the door to abuse. Facebook, Amazon, and other companies have, at one time or another, faced accusations of competition-unfriendly practices and misuse of user data. These companies come under some form of regulation. Regulators have stepped in once in a while to reign in the excesses of these companies. But in the blockchain world, an ecosystem that promotes decentralization, the existence of centralized entities that operate without regulation makes for a dangerous combination. The collapse of FTX typifies such dangers.

## FTX's collapse will hasten Aptos crypto's Web3 drive

Despite the decentralization feature of distributed ledger technology, many crypto exchanges continue to operate as centralized organizations, representing a significant failure point. If there is a hack, a run on the exchange, or customer funds vanish (as in the FTX example), users lose everything. This goes against the very notion of distributed ledger technology.

The concept of Web3 is a direct response to the problems associated with centralized internet-based networks. As a Web3 blockchain project, Aptos aims to be the backbone on which several other Web3 projects will spring up. The Aptos crypto airdrop has been concluded, and the Aptos blockchain platform already has several hundred projects waiting to launch.

The only way to stop the crypto market from being the cesspool of centralized, corporate degeneracy is by shifting focus away from undue market speculation. FTX fell into this trap by [moving billions to Alameda](https://www.theguardian.com/technology/2022/nov/11/cryptocurrency-exchange-ftx-files-for-bankruptcy-protection-in-us) and losing these in risky speculative bets.

Some investment banks thronging into the crypto market in late 2020 and 2021 are starting to rethink their focus. CoinDesk cited an 18 November, 2022, investment note by Bank of America (BofA) analysts Andrew Moss and Alkesh Shah, in which investors were reminded that the development of applications that leverage distributed ledger technology continues to advance, irrespective of FTX's collapse. 

To buttress the point made by the BofA analysts, on-chain data show that DeFi protocols continue to enjoy steady revenue growth. [DeFi's revenue](https://www.fxstreet.com/cryptocurrencies/news/polygon-ranks-third-in-top-defi-projects-by-revenue-what-this-means-for-matic-price-202211172222) during a week in early November is demonstrated in this snapshot, taken from Token Terminal. It shows that Ethereum netted more than $555m in that week. OpenSea and Illuvium earned $73.5m and $73.3m, respectively. Next are dYdX and PancakeSwap, with revenues of $39.6m and $34.9m.

![aptos.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/aptos_5595e79820.png)
 
## DeFi Network Earnings, Early November 2022

The problems seen in the crypto market are more of a failure of corporate structure and not an issue with the technology on its own. Decentralized exchanges like PancakeSwap and decentralized finance networks like Ethereum and dYdX still make money even when centralized exchanges and their tokens are bleeding. It is an obvious pointer that we should be looking for ways to expand the technology and not be fixated on speculating on the native tokens.

The Aptos crypto token has lost much of its value within a month of listing on major exchanges. From a Binance-listed high of $100 on 19 October, 2022, the token is struggling to stay above the $4 mark. This may be a disguised blessing, as it makes the APT token unattractive to speculators, given the spreading contagion of the FTX collapse. This will redirect focus back to the essence of the distributed ledger technology. 

Distributed ledger technology was not created as an exotic financial asset for market speculation. Bitcoin certainly wasn't, as Satoshi Nakamoto envisaged its use as a means of peer-to-peer payments. True decentralization lies at the core of the Web3 drive, and Aptos is positioned to lead the way in this direction.


Is Aptos Crypto a Good 2023 Investment?

Before analysing Nano price, let's understand what it is. Nano is a digital decentralized currency created back in 2015 by Colin LeMahieu. Previously, it was known as RaiBlocks. It is similar to [Bitcoin](/news/article/bitcoin-prime-review) in that it uses a blockchain to track transactions, but it has several differences that make it unique.

One of the most notable differences is that it is designed to be a "lightweight" currency. That means it is intended to be very efficient in terms of storage and transaction processing. Nano also has no fees associated with transactions and is designed to be scalable to a much larger number of users than Bitcoin.

Since its launch, Nano has seen a steady increase in price. However, it has not reached the level of mainstream adoption that would be necessary for it to become a truly global currency. Interestingly though, the currency's use has increased in recent months, particularly in Africa.

## Major uses of Nano currency

Nano currency can be used to purchase goods and services online, or it can be held as an investment. It is also being used by some organizations for raising funds through ICOs (initial coin offerings). In addition, the digital currency is also used to send money to family and friends.

## Nano price fluctuations since its creation

Since its inception in 2015, Nano (NANO) has undergone several price changes. In December 2017, NANO reached an all-time high of $37.62. However, prices soon began to drop, and by September 2018, it had fallen to $0.65. In the past year, prices have fluctuated between $0.50 and $2.00.

Despite the volatility, Nano has shown some stability over the years. In 2019, the average price was $1.02, and in 2020, it was $0.90. In 2021, the average price was $1.21.

## Current Nano price

The [current price of Nano](https://www.coingecko.com/en/coins/nano) is $0.64, with a trading volume of $1,302,822. In the last seven days, prices have ranged from a low of $0.58 to a high of $0.78. Nano is still a relatively new currency, and it is likely that the price will continue to fluctuate in the future. At the moment, Nano has a [market cap](/news/article/what-is-market-cap-cryptocurrency) dominance of 0.009%.

## Why the high fluctuations in Nano price?

The main reason for the price changes is the supply and demand of the currency. When there is greater demand than there is supply, prices go up. When there is greater supply than demand, prices go down.

Nano is not currently being traded on any major exchanges. Nevertheless, it is available on a few smaller exchanges, such as Mercatox and Binance DEX. The best way to get accurate price information is to check a variety of sources. [CoinMarketCap](https://coinmarketcap.com/) is a good starting point, as it aggregates data from various exchanges.

Up-to-date information on Nano price will ease your decision-making when it comes to making major digital investments online.



green abstract image of blockchain and nano logo

Nano Price Analysis

With the recent boom in crypto trading and the advent of cryptocurrencies as a means of investment, it's becoming increasingly important for anyone involved in crypto trading to keep tabs on their tax obligations. As a trader, you need to understand all the different ways you'll need to pay taxes on crypto. Let's see how Koinly helps in the tax calculation of crypto assets.

## What is Koinly?

Koinly is a powerful platform that makes tax planning for cryptocurrency investors simple and accessible. It was launched by Robin Singh in 2018 as a revolutionary crypto tax solution that offers automated capital gains reporting for both investors and accountants. 

It is the fastest-growing crypto tax solution, with offices in more than 20 countries. It integrates with more than 6,000 blockchains, 350 exchanges, and 50 wallets, providing a comprehensive crypto tax reporting service. Crypto Portfolio Tracking with [Koinly](https://koinly.io/) is free, but to get the full suite of tax reports, you must become a premium member.

## Benefits of using Koinly

Crypto tax calculations should be done regularly. Failure to pay taxes can cause serious consequences. You may have to pay fines and interest on your taxes. A good way to handle the problem is to find the right accounting software for cryptocurrency. With Koinly, you don't have to worry about anything because it does everything for you.

Koinly has a dedicated accountant solution to help you work faster and smarter. It will help you to calculate your clients' crypto taxes in a reliable and fastest way. You'll be able to generate HMRC-compliant reports in minutes.

You can integrate Koinly with crypto exchanges and wallets through using API or by uploading your transaction history as a CSV file. This helps you to keep track of your crypto transactions from one platform.

Koinly makes it easy to transfer your funds to your own wallets. It automatically imports all of your transactions with the current market prices, matches your transfers between your own wallets, and shows your profits and losses. It lets you generate a tax report and import your tax forms in under 20 minutes.

It helps to automatically match transfers between your own wallets, as Koinly uses a combination of time-based heuristics and general matching techniques.

## What is crypto cost basis

The cost basis of a cryptocurrency is the original purchase price at which it was acquired. In the case of the other types of cryptocurrencies, their cost basis is the amount paid for the coins when they were first issued. For example, if you buy Bitcoin in 2016 for $20,000, the cost basis is $20,000.

The purpose of a cost-basis method is to understand which cost base you should use when calculating your capital gains and losses. Different countries have different rules on cost-basis methods.

While countries like [the UK](/news/article/uk-crypto-tax-regulations) and others have stringent rules regarding cost-basis methods, the US and similar countries allow you to choose any cost-basis methods that work for you.

Cost basis formulas are a wide range of choices. Some of them include:

•	First In, First Out (FIFO): Under this method, the first crypto you buy is the first one you sell. And the cost basis of crypto assets is based on this first crypto.

•	Last In, First Out (LIFO): This method depends on the cost basis of the crypto asset you purchased most recently.

•	Average Cost Basis (ACB): The average cost basis is the total amount you paid for your asset(s) divided by the total number of tokens/coins you own.

•	Highest Cost, First Out (HIFO): In this case, the cost basis is the most expensive asset sold first.

•	Lowest Cost, First Out (LCFO): It's totally the opposite of Here the least expensive asset sold first is considered.

From the above list, the FIFO methodology is the most commonly accepted calculation method. While most countries support and recommend using the FIFO method, the weighted average cost method is being accepted by some others as the crypto cost basis method.

However, FIFO is considered the most beneficial cost-basis method for tax purposes as it helps minimize capital gains.

## Koinly UK: Computing crypto taxes in the UK

In the UK, the crypto tax rules used to change constantly. By using Koinly, you don't have to worry about tax calculation. Koinly keeps a close watch on the HMRC's Crypto Assets Manual. It also regularly updates the guide to keep us informed and tax compliant.

For crypto income in excess of the £12,300 tax-free allowance, you'll have to pay either 10% or 20% tax on capital gains. Again, you'll be taxed between 20% and 45% on any additional income from cryptocurrency over the personal allowance. The exact tax amount you'll pay depends on the total crypto transaction you've made and the Income Tax band that applies to you.



koinly logo in front of image of tax papers and calculator with a blue filter

Koinly for Crypto Tax Calculations

Wondering what crypto to buy now? If you're looking to purchase cryptocurrency while the market is deep in the throes of bearish momentum, there are a few things to consider.

First, what are your investment goals? Are you looking to invest in a new currency, or are you looking to speculate on future price movements?

## What crypto to buy now

If you're simply looking to invest, then you might want to choose a relatively stable crypto. And if you're looking to speculate, then you'll want to choose an asset with a high potential upside.

Of course, you'll also want to consider transaction fees, security, and liquidity. Overall, a mix of crypto assets is most appropriate for a balanced investment portfolio.

But with thousands and thousands of coins available in the market today, choosing the best cryptocurrency is no easy task. So, today, we will help you see which crypto projects are the most valuable and have the most potential.

## Bitcoin (BTC)

The undisputed king of the crypto market, Bitcoin is the most well-known and popular cryptocurrency, so it tends to be more expensive to buy and sell. With a market cap of more than $400 billion, Bitcoin is the largest crypto asset.

Bitcoin was first proposed in 2008 by the pseudonymous Satoshi Nakamoto. It has since grown to become the most valuable cryptocurrency in the world, with its market capitalisation surpassing $1 trillion during the height of the bull market.

As of writing, BTC is trading at around $21,000, down 69% from its all-time high (ATH). While Bitcoin has one of the least upside potentials among the major cryptocurrencies, it is the safest bet in the crypto market.

Even though there are thousands of other cryptocurrencies in the market, Bitcoin still represents 36.9% of the cryptocurrency market cap. Bitcoin has also shown consistent value growth throughout the years, pretty much like any other leading cryptocurrencies on the market. 

## Ethereum (ETH)

[Ethereum](https://ethereum.org/en/) is an extremely popular cryptocurrency that is the base for all the innovation happening in decentralised finance (DeFi), non-fungible tokens (NFTs), decentralised autonomous organisation (DAO), GameFi, and Metaverse.
Sitting at the second spot, ETH has a market cap of $200 billion. The price of Ether, meanwhile, is down over 66% from its ATH.

The Ethereum network now has hundreds of cryptocurrency projects built on it, making Ethereum one of the most valuable cryptocurrencies in the market. In addition, the network constantly goes through improvements, and the latest upgrades, "The Merge" and EIP-1559, have effectively made the native currency ETH a deflationary asset.

## Binance Coin (BNB)

While Bitcoin is an excellent choice for aspiring crypto investors who wish to buy a well-established crypto with a history of growth over time, it's mainly for long-term investments. That's where coins like BNB are a great way to get the most upside.

BNB is the native coin of the largest cryptocurrency exchange Binance. The trading platform uses a burning mechanism to remove BNB's total supply, and the more people use its blockchain BSC, the more BNB gets burned.

The coin is currently down 48.5% from its ATH over a year ago.

## Dogecoin (DOGE)

If you are looking for quick and serious gains, you don't want to miss out on this coin. Dogecoin is one of the best meme-based cryptos to create some millionaires and billionaires in recent years, thanks to support from respected celebrities such as Elon Musk, who has voiced his support of the cryptocurrency on an ongoing basis.

Musk is partly responsible for Dogecoin's huge rise, having called it his favourite crypto, but at the same time, the tech billionaire is also responsible for marking the top of the DOGE in May. So, you have to be careful with this coin and, of course, keep an eye on Musk's Twitter for mentions of anything remotely associated with DOGE.

Currently, down 83% from its ATH, Dogecoin is one of the most famous cryptos, positioning itself as the best-undervalued cryptocurrency to invest in due to its potential upside.

## Polygon (MATIC)

Polygon is a powerful infrastructure layer for Ethereum that enables Ethereum scaling and Dapp development. It is a Layer 2 solution that uses Ethereum as its base layer and enables Ethereum scaling through sidechains. Moreover, it's also home to 50k Dapps and billions of dollars-worth of assets.

This crypto project is particularly known for its partnerships with well-known companies such as Meta (formerly Facebook), Starbucks, Robinhood, Stripe, Adidas, and Flipkart. These partnerships help its native coin MATIC rally, down about 59% from its ATH of $2.92, which it hit less than a year ago.

## Cardano (ADA)

One of the best-performing cryptocurrencies, ADA boasts a $15bn market capitalisation. The coin is down more than 86% from its ATH above $3, making it a potentially profitable investment. 

While the Cardano network may be slow in keeping up with the crypto market advancement, the promise of delivering these lofty goals makes ADA attractive among investors.

## Ripple (XRP)

XRP currently sits at sixth position while its value is down 85% from its ATH of $3.40 hit five years ago. The digital assets' price has been relatively flat for several years, with the biggest issue being litigation.

After the SECs sued Ripple and its two top executives for reportedly selling unregistered securities (XRP), many crypto exchanges removed XRP from their platforms. But with many entities, including Coinbase, backing Ripple and [rising optimism about a Ripple victory](/news/article/sec-vs-ripple-news) has once again placed XRP on the list as the best cryptocurrency to watch. 

## What crypto to buy now conclusion

Some of the honourable mentions include layer 1 giants Polkadot (DOT) and Solana (SOL), and privacy coin Monero (XMR). You can purchase these cryptocurrencies via many exchanges, like Coinbase, Binance, Kraken, Gemini, and FTX. 

On these trading platforms, you can find not only the most popular coins, but also the most obscure ones.

While investing in cryptocurrency is still very much a speculative endeavour, the above-mentioned cryptos are some of the best projects in the market today. However, always remember that crypto is inherently volatile, so exercise extreme caution when allocating part of their portfolios to cryptocurrency.

Ultimately, there is no one "best" cryptocurrency to buy. It depends on the investment goals and risk tolerance you have. Do your own research and choose the cryptocurrency you think is right for you.


What Crypto to Buy Now?

The crypto winter has been a bloodbath for Bitcoin investors. Many have depleted their portfolios as they scramble to save what is left. However, following the fall of FTX, there's been an uptick in Bitcoin holders accumulating BTC in cold storage.

## FTX fall motivates self-custody

Recently, new highs were reached in the number of wallets holding 1 BTC or more. This is a positive indication that investors are determined to keep their Bitcoin holdings even when the price declines. Likewise, the number of wallets holding 10 BTC or less has also reached a record high.

The recent problem of insolvency among centralized exchanges has been linked to this recent accumulation in cold storage. The recent crashes of [FTX](https://www.theguardian.com/technology/2022/nov/18/how-did-crypto-firm-ftx-collapse), Voyager, Genesis, and other crypto firms have triggered negative sentiments in the market. Investors are increasingly worried they might lose their BTC if the exchange goes out of business.

Data from [Glassnode](https://studio.glassnode.com/metrics?a=BTC&m=distribution.BalanceExchanges&s=1570361904&source=content_type%3Areact%7Cfirst_level_url%3Aarticle%7Csection%3Amain_content%7Cbutton%3Abody_link&u=1587222400&zoom=) shows that, as a result, exchange balances have drastically decreased, with more than 177.9k BTC removed from exchanges in the last month. This trend will likely continue as investors become more aware of the risks of putting their money in centralized exchanges.

Bitcoin investors' withdrawals from centralized exchanges have also impacted exchange supply. Bitcoin available on exchanges has fallen to 11.99%, its lowest since December 2017.

Checkmate, the lead analyst at Glassnode, noted that this looks like at least a short-term movement towards self-custody, partly out of concern for CEX solvency.

## Hardware wallets enjoy good sales

A downturn in the market generally doesn't inspire the spirit of accumulation among investors. However, hardware wallets like [Trezor](/news/article/why-consider-a-trezor-wallet), Ledger, and ColdCard have experienced a surge in demand for their products.

Josef Ttek is a Bitcoin analyst at Trezor, one of the leading hardware wallet providers. He said there had been a 'dramatic increase' in demand for Trezor devices and the Trezor Suite.

"Normally, a bear market is rather a quiet period for us," he added. "This uplift in sales only shows how big of an impact the collapses of FTX and BlockFi have on people's trust in custodian services."

Trezor noted a [300% increase](https://cointelegraph.com/news/trezor-reports-300-surge-in-sales-revenue-due-to-ftx-contagion) in hardware sales following the FTX fiasco. Also, Relai, a Bitcoin exchange headquartered in Switzerland, has seen a similar rise in users and Bitcoin investors using their platform to trade.



Bitcoin Investors Turn to Self-Custody

Since it came onto the scene, many have wondered, 'is Casper crypto a good investment?'. Here, we'll try to find out.

The Casper cryptocurrency was launched in 2017 and gained popularity due to its unique features. The most significant part of Casper is its use of the Proof-of-Stake (PoS) algorithm, which is different from the more common PoW (Proof-of-Work).

With PoS, instead of miners validating transactions and earning rewards, Casper users who hold the currency in their [wallets](/news/article/crypto-wallet-multiple-currencies) can earn interest on their holdings. This makes Casper a more environmentally friendly option, as there is no need for energy-intensive mining operations.

There are many options when [investing in cryptocurrency](https://www.wsj.com/articles/tesla-ceo-elon-musk-says-he-personally-owns-bitcoinand-so-does-spacex-11626908542). With so many different coins and tokens available, knowing which ones are worth your money can take time and effort.

One coin that has been getting much attention of late is Casper. The new cryptocurrency is designed to change how we interact with the internet and promises to provide many benefits over traditional currencies.

Casper has also implemented some governance mechanisms to ensure that the currency uses responsible. For example, users must have a minimum balance to participate in staking and earn rewards.

## Is Casper a good investment?

It's essential to understand what Casper is and how it works. Casper is a decentralized network that uses [blockchain technology](https://www.newsbtc.com/news/bill-gates-bitcoin-exciting-shows-cheap-sending-money-can/) to enable secure, peer-to-peer transactions. Transactions on the Casper network are processed instantly and are entirely private.

Casper's design is to be more efficient than current web browsers. The developers claim Casper can load pages four times faster than Chrome and Safari. Additionally, Casper doesn't require users to install any plugins or extensions.

Casper is a good investment as it offers an excellent opportunity to make profits in the long term. It is among the most popular and successful Initial Coin Offerings (ICOs), attracting much attention from investors and traders.

The project has a strong team of experienced developers, entrepreneurs, and marketing experts. They have created a functional product and have a solid roadmap. A well-known venture capitalist firm also backs the project.


Is Casper Crypto a Good Investment?

Boryoku DragonZ is a promising addition to Solana’s NFT library, but is the collection worth investing in?

![dragonz (asia crypto today).jpg](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/dragonz_asia_crypto_today_81e9dcac4d.jpg)
  
Image Source: [Asia Crypto Today](https://www.asiacryptotoday.com/boryoku-dragonz/)

There are countless NFT collections and projects out there that have flooded the [blockchain](/articles/learn-moni/what-is-blockchain) industry. But, just a handful make it to the big stage. Lately, Solana has been claiming many of the top spots. One such project that's gradually rising through the ranks is [Boryoku DragonZ NFT](https://boryokudragonz.io/). We'll take a look at what the project is and whether or not it has any earning possibilities for users. So, without further ado, let's get into it.

## What is Boryoku DragonZ NFT?

Well, the name itself is pretty self-explanatory, with the project being an NFT collection of various animated dragons. The design theme is easily the first thing you’ll notice about the collection. The retro-style makes the entire series feel like a standout from Solana's vast NFT project library.

Moreover, the project can be considered mostly an investment opportunity. There's no application, game, or any other piece of utility tied to the NFTs. The main idea behind the Boryoku DragonZ NFT is to collect the NFTs, breed them together, and hatch new eggs. As you may have guessed, holding these NFTs will reward you with money, paid in the game's own cryptocurrency, $BOKU.

## How much can I earn from Boryoku DragonZ NFT?

As per the official numbers from the developers, a common DragonZ NFT will pay its holder seven $BOKU per day. Considering its [current price in $USD](https://coinmarketcap.com/currencies/boku/), that translates to around $0.35. So, owning one dragon for an entire month could bag you about $10.    

Now, this doesn’t seem too bad of an investment, as you can easily find DragonZ for less than $10 on [Magic Eden](https://magiceden.io/marketplace/boryoku_dragonz). If you purchase multiple of them and HODL for a few months, it could likely turn out to be a profitable investment.

However, in the crypto space, nothing is guaranteed. The price of $BOKU could very well drop - or it could spike up too. Ensure you do your own research, and only invest if you're sure about what you're doing.


Boryoku DragonZ NFT: A Good Investment? 

[Bytecoin](https://bytecoin.org/), or Bytes crypto, was launched in 2012, promising complete decentralisation and privacy. It offered an open-source code through which anyone could contribute to the network. Besides, it allowed users to enjoy higher efficiency at a nominal cost.  

The network’s untraceability is one of the standout points. It can be ideal for users who want to remain anonymous while making trades. Though it is an old and promising network, its Bytecoin has not progressed in the market. 

In this article, we will investigate [Bytes crypto (BCN)](https://www.coinbase.com/price/bytecoin-bcn) and its future as an investment.

## Bytes crypto network explained

Nicolas van Saberhagen introduced the BCN blockchain intending to solve some significant problems with existing blockchains. A key feature of most cryptocurrencies is their transparency. However, this results in making the users’ data public. This is where the BCN network comes in. 

It eliminated this issue with the use of CryptoNote technology and ring signatures. This allowed the platform to make transactions untraceable. Besides, it also adds to the unlinkability by offering users a different address for each transaction. 
Apart from that, it does not compromise on decentralisation and efficiency either. Its flexible mechanism allows readjustment of block difficulty. It is the reason the network needs only 120 seconds to generate a new block. 

On the other hand, its ecosystem involves several other blockchain companies. These include [reputed exchanges](/news/article/best-exchanges-for-crypto-uk), [mining pools](/news/article/crypto-mining-farms), [multi-wallets](/news/article/cryptocurrency-hardware-wallet), news agencies, merchants, and other tools. With all these attributes, it is a pretty handy platform for users who want to keep their anonymity and enjoy a standard platform’s features.   

## Features

Bytecoin is the native token of the platform. It is used for network maintenance and governance. Here are some prominent features of the token:

1.	Decentralisation
Bytes crypto offers complete decentralisation. It is a network spreading all over the globe with a large number of nodes, and all its users share governance rights, which are facilitated by Bytecoin.

2.	Untraceable and unlinkable transactions
Transactions in Bytes crypto are untraceable and unlinkable, keeping the users anonymous. It leverages the CryptoNight mining algorithm, which allows it to maintain secrecy. Ring signatures for verifying transactions ensure that the sender's identity remains hidden. 

Meanwhile, one-time addresses eliminate the risk of linking users to the transaction. That’s why the users who prioritise their privacy can choose this network.

3.	Adaptive parameters and scalability
Adaptive parameters are another feature that differentiates this BCN from the likes of [Bitcoin](/news/article/bitcoin-price-uk). Its code is not rigid and can be adjusted as per the requirements. So, if there is a change in hash rates, it can modify the block-generating difficulty. 

4.	Efficiency and lower cost
The coin not only allows decentralisation and untraceability but can also give you impeccable efficiency. Because of the CryptoNote technology and ring signatures, it can instantly process transactions. Moreover, it only takes around two minutes to add a block. The costs are also minimal in comparison to most cryptocurrencies.

## Is Bytecoin a good investment?

It is a privacy-oriented platform that offers various use cases. Atypical of the earliest cryptocurrency projects, it was among the first to introduce untraceability. However, with time, many other similar projects like Monero took shape. Bytecoin was left behind because of a lack of innovation. 

That’s why this coin is not a likeable choice for investors. Its current value is only $0.000024, with a market cap of $4,402,170. [CoinMarketCap](https://coinmarketcap.com/currencies/bytecoin-bcn/) shows quite a low ROI, which is down by 63.79%. There is also not much activity on the network since 2019. This does not play well for its position in the market. Therefore, it might not appear to be an ideal investment option. 



Bytes Crypto: Is it a good investment? 

Since 2018, distributed ledger technology has seen a boom in [DeFi ](/articles/learn-moni/what-is-a-defi-token)(decentralised finance) industry. There have been numerous projects that have reimagined traditional financing, including Cake DeFi.

Among these projects, the idea of allowing investors to earn tremendous yields through [crypto staking](/news/article/what-is-staking-crypto) is quite popular. One leading platform in this regard is [Cake DeFi](https://cakedefi.com/) - an innovative platform for investors that offers various services to generate passive income.

This guide will take a deeper look at its ecosystem and how it works. We will also explore how you can leverage its unique offerings!

## Cake DeFi: A quick overview

Cake DeFi is a rapidly expanding project that makes services relating to decentralised finance more accessible. It is a[ Singapore](/news/article/coinbase-singapore-approval)-based fintech firm that was founded in 2019. Popular crypto influencers Julian Hosp and U-Zyn Chua founded the firm intending to promote cryptocurrency usage. Being a Singapore-based firm, it complies with the [crypto regulations](/news/article/crypto-regulations) of the Monetary Authority of Singapore (MAS). Besides, it claims to be a transparent firm that allows investors to gain high returns. It has its [DApp](https://app.cakedefi.com/welcome), through which you can avail of various income-generating offerings. Its primary offerings include staking, liquidity mining, and lending. Meanwhile, services like Cake Freezer and investment options in decentralised assets also exist.

## How does the platform work?

Though it is named a decentralised finance platform, it operates as a custodial portal. Its ecosystem is built on the Chain blockchain, which allows seamless trading. Also, the native token of [the Chain](/news/article/bnb-chain-security-system), DFI, is used for distributing incentives and rewards. Moreover, it works on the Proof-of-Stake [(PoS)](/news/tag/pos) consensus mechanism for generating new blocks. It allows better throughput and is more energy-efficient than Proof-of-Work [(PoW)](/news/tag/pow).

The platform gives you a variety of financial products to assist you in investing. Moreover, it also supports various digital assets, so you get numerous options.

## How to use Cake DeFi?

Let’s look at how you can use Cake DeFi’s services:

###  1. Staking

In the PoS ecosystem, you can stake tokens in nodes to validate transactions. The Cake also offers this service, and here you have two options for [staking](/news/article/gemini-staking-support-launches). The first is the native token, DFI, and the second is the DASH token. Against these two, you can earn profits.

### 2. Liquidity mining

Liquidity mining pools are another option through which you can generate yields. You have to pick a pair of cryptocurrencies with DFIs and enter your preferred amount. It may give you an upward of up to 68%. Also, there is no complicated procedure for collecting rewards, as they will be directly transferred to your wallet.

### 3. Lending

You can further boost your cash flows through its lending feature. It includes lending of [Bitcoin](/coins/btc), [Ethereum](/coins/eth), [USDC](/news/article/circle-usdc), and [USDT](/news/article/trending-crypto-coins). It offers a risk-free and transparent procedure through which you can gain lucrative bonuses.

To earn profits, you have to deposit the supported cryptocurrencies. These assets are locked on the platform for about a month and divided into lending batches. One batch ends in 28 days, from Friday to Friday. After this period ends, you can continue with the next batch or withdraw your returns.

### 4. Asset freezing

Its asset freezing is another option to get higher returns. You have to lock your desired DFI tokens for at least a month. Against this amount, the platform generates yields, giving you a regular cash flow. Also, through this, you can get a markdown of up to 85% on fees.

### 5. Investment in assets

Lastly, you can also invest in various decentralised assets on this platform. These are referred to as dTokens, and you can mint them on the Chain network. These assets are unique as their prices are related to real-world possessions like stocks.

## Final take

Cake DeFi appears to be one of the most secure and transparent platforms. It offers various financial products through which you can maximise your yields. Its staking, liquidity mining, and [crypto lending](/news/article/crypto-lending) features can generate regular cash flow. Also, you can invest in real-world assets through this platform.

Cake DeFi 101: The Ultimate Guide

A [press release](https://www.gov.uk/government/news/cryptocurrency-trading-firm-shut-down-after-scamming-investors) issued by UK authorities has confirmed that cryptocurrency trading firm PGI Global UK has been shut down by the High Court.

The announcement from the UK Government was published yesterday (27 October). It was released by The Insolvency Agency, which is an executive agency sponsored by the Department for Business, Energy, and Industrial Strategy.

## PGI Global promised 200% returns

Between July 2020 and February 2021, the UK-based business gathered around £612,000, or $710,000, from potential investors. It told these investors that their investments in the firm would provide a 200% return. When it failed to keep its commitment, it forbade its investors from withdrawing their money.

Investigations discovered that the business utilised three accounts to collect the payments. As a result, PGI had allegedly diverted about £200,000 by paying no less than £195,000 to personal accounts and £10,000 to a luxury department shop.

## Director fails to comply

According to the Court, Ramil Ventura Palafox, the company's only director, refused to participate in the [inquiry](/news/article/token-sniffer-threats) into the charges. 
Furthermore, Insolvency Service Chief Investigator Mark George emphasises that limited liability safeguards need compliance with the Companies Act by both companies and individuals. 

He adds that this case demonstrates that if we have legitimate concerns about a firm's trading practices, the court will take a poor view of any failure to cooperate with a statutory investigation and will wind up with the company in the public interest. 

## Background

PGI UK is a subsidiary of Praetorian Group International Trading, which is in the United States. After obtaining a seizure warrant from the US District [Court](/news/article/xrp-court-case-update) for the Eastern side of Virginia, the US Department of Justice closed the corporation.

According to a Chainalysis [analysis](https://blog.chainalysis.com/reports/2022-crypto-crime-report-introduction/), cryptocurrency-related crime hit an all-time high in 2021, with illegitimate addresses collecting $14 billion, up from $7.8 billion in 2020. In contrast, according to another Intelligent CIO [analysis](https://www.intelligentcio.com/me/2022/08/22/crypto-criminal-activity-has-fallen-in-2022-with-illicit-cryptocurrency-volumes-down-15-yoy/), illicit cryptocurrency volumes fell 15% year over year in 2022, owing to a decline in crypto-criminal activities.



PGI Global Closed by UK High Court

According to an October poll conducted by US asset management firm [Charles Schwab](https://pressroom.aboutschwab.com/press-releases/press-release/2022/Schwab-401k-Study-Finds-Millennials-and-Gen-Z-Take-Advantage-of-Broader-Range-of-Retirement-Resources-Than-Previous-Generations/default.aspx), over half of Gen Z and Millennials want crypto to be in their 401(k) retirement plans. 

When the business asked participants what they wanted to add to their 401(k) retirement products, [46% of Gen Z and 45% of Millennials](https://www.investing.com/news/cryptocurrency-news/almost-50-of-gen-z-and-millennials-want-crypto-in-retirement-funds-survey-2921428) indicated they hoped to invest in crypto as part of their financial planning. 

It's hardly surprising, given that 43% and 47% of Gen Z and Millennials are already investing in cryptocurrencies outside their 401(k), indicating their fondness for the asset class.

The asset management firm asked 1,100 401(k) members aged 21 to 70 to take a 10-minute poll between 4 April and 19 April, 2022.

## Who qualifies for a study on crypto retirement funds?

Participants in the study had to have worked for a firm with 25 or more workers and be current 401(k) plan participants. 

Millennials are individuals born between the early 1980s and the mid-1990s. Gen Z is those born between the mid to late 1990s and the early 2010s. 

The percentages contrast sharply with individuals born between the mid-1940s and the late 1970s, with only 31% and 11% wishing to invest in cryptocurrencies, respectively.

## What could challenge the success of the crypto retirement fund? 

Inflation is seen as the major deterrent to pension success. Fidelity Investments reportedly [put plans in place](/news/article/fidelity-crypto-increase) in April to allow Bitcoin investing for its 401(k) retirement saving account holders, with investors permitted to deploy up to 20% of Bitcoin to their savings portfolio. 

[Rest Super](https://rest.com.au/super/super-products/rest-super) was the first pension fund in Australia to provide Bitcoin allocation to its 1.9 million members in November 2021. 

A [Quebec pension fund](https://www.reuters.com/markets/us/canadian-pension-fund-cdpq-explores-legal-options-over-failed-crypto-firm-2022-08-17/) lost nearly all of its $154.7 million investment in the now-defunct cryptocurrency [lending platform Celsius](/news/article/celsius-data-breach). Controversies like these have split US Senators on the magnitude of the dangers associated with crypto-exposed 401(k) retirement plans.



Crypto Retirement Fund Popular with Millennials

[Pillow](https://www.pillow.fund/) Fund intends to be a one-stop shop that enables even beginner users to save, spend, and invest in cryptocurrencies.

The Singapore-based startup revealed that it had secured $18 million in Series A funding, which was co-led by Accel and Quona Capital with contributions from Elevation Capital and Jump Capital.
 
More than 75,000 users in more than 60 countries are using the app. It currently supports ten digital assets, including Bitcoin, Ethereum, [Solana](/news/article/block-asset-nft-platform), Polygon, Axie Infinity, and the stablecoins USDC and USDT pegged to the US dollar. It intends to support more than fifty digital assets shortly.

Arindam Roy, Rajath KM, and Kartik Mishra founded the company in 2021, focusing on developing markets in places like Africa and Southeast Asia.

According to the company's founders, since the start of the year, its user base has increased by 300%, and assets under management have increased by 5x. It recently expanded into Nigeria, Ghana, Vietnam, and other markets.

## Pillow Fund purpose

Pillow Fund's purpose is to make [cryptocurrency](/articles/learn-moni/cryptocurrency-trading-strategies) usage more understandable. The Pillow team had to address a few significant issues to accomplish this. The first is awareness because most people still believe cryptocurrency is only about buying and selling Bitcoin without understanding other use cases. The second is complexity, as fully utilising cryptocurrency requires knowledge of bridging, gas fees, and blockchain technology.

Pillow addresses these issues by streamlining cryptocurrency investments, transactions, and savings through single-click daily interest savings and instant swaps. It intends to do the same for other cryptocurrency services, such as payments.

## How to use Pillow Fund

Using the email id, users can sign up for their Pillow account. The second step is to provide KYC data (such as live selfie photos and national identity cards). Before deciding which digital assets to deposit or invest in, users are given a brief lesson on the possible risks associated with doing so. Another lesson about the potential risks associated with that asset before making their initial investment is also given to the user.

After that, the user can add cryptocurrency on this platform by sending a transfer to the displayed crypto wallet address from their own wallets or another cryptocurrency platform. Users can also purchase cryptocurrency using their local fiat currency in some nations where Pillow has partnered with local, compliant on-ramp service providers.

The company also accepts fiat currency deposits and withdrawals through local partnerships in Nigeria, the Philippines, and Vietnam, with plans to expand further across Southeast Asia, Africa, and Latin America with its new funding.


pillow fund wants to make crypto easy for new users

Pillow Fund makes crypto easy for users

Shawn Corey Carter, better known as Jay Z, is a multi-platinum selling hip hop artist widely regarded as the most influential rapper. He is also considered an extremely successful businessman, having founded several multimillion-dollar corporations, including Rocawear, a clothing firm with more than $700 million in annual sales. He is known for collecting fine art and mentioned artists like Picasso in his songs.

## Jay Z's Cryptopunk Twitter profile picture

[Jay Z's Twitter profile picture](https://twitter.com/sc) has been changed to a CryptoPunk NFT that he bought from OpenSea for $126,000; the punk replicates his iconographic hair. 

![jay z 1.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/jay_z_1_b82cdaa19e.png)

Jay Z paid 55 ETH for one of the 10,000 CryptoPunks on April 25. This punk has an African American male wearing a gold chain, a feature that few punks have. His Twitter accounts profile picture changed on June 25.

## Jay Z drops his Reasonable Doubt as NFT.

Jay Z collaborated on creating an NFT with Derrick Adams, a multidisciplinary artist and professor at Brooklyn College. Adams' work takes many forms, including painting, collage, sculpture, performance, video, and sound installations. 

Derrick Adams designed an NFT celebrating Jay Z's debut album 'Reasonable Doubt' on its 25th anniversary. The NFT featured captivating imagery and animated elements and was sold at Sotheby's for $139,000. The physical artwork is also owned by Jay Z. A portion of the profit was donated to The Shawn Carter Foundation.

![jay z 2.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/jay_z_2_311b18b9ca.png)

Derrick Adams created the work in his fragmented style. He was able to animate certain aspects of the piece in the NFT version, such as creating a red glow for the cigar Jay Z is holding, making signature diamond jewellery sparkle, and manipulating the smoke from the cigar to transform into the number 25. The piece incorporates many elements from the original 'Reasonable Doubt' album cover. It also adds a unique twist with advanced animations.

Sotheby auctioned off the piece- one of the leading fine art auction houses, from June 29, 2021, to July 3, 2021, bidding starting at $1,000. The auction took place concurrently in the popular blockchain game-Decentraland's Voltaire Art District.

## Jay Z sued Damon Dash

Jay Z co-founded the record label Roc-A-Fella Records (RAF) with Damon Dash, an entrepreneur who has appeared in films and is a successful record executive.

Jay Z sued Damon Dash for attempting to sell the 'Reasonable Doubt' NFT. Damon Dash holds a small portion of the record label, and his lawyers have stated that he lacks the authority to sell a company asset unilaterally.

Damon Dash attempted to sell the NFT by partnering with the NFT marketplace platform SuperFarm. As a result, RAF lawyers advised SuperFarm to cancel the auction. According to the record label, Dash was still looking for alternative marketplaces to sell the NFT.

As of 2022, Damon Dash and Jay Z have decided to settle their legal cases. Dash is not allowed to "in any way dispose of any property interest in 'Reasonable Doubt,'" even though he is still allowed to sell his one-third ownership in Roc-A-Fella in the future.

## Influence of Jay Z in the NFT space

Jay Z is a well-known musician who has founded numerous profitable businesses. He is also regarded as a wise investor. He is one of the few pop culture figures indulging in the crypto industry. As time passes, more influencers, athletes, and musicians are entering the blockchain world.

Jay Z CryptoPunks Twitter profile photo's continued use is probably making many musicians wonder how NFTs can be applied to the music industry.

As an investor, he has made several significant pre-IPO investments, including Uber. More recently, he invested $19 million into Bitski, a platform for buying and selling NFTs through a secure wallet.

Bitski has the potential to be a powerful [NFT marketplace](/news/article/gamestop-nft-marketplace) for musicians and record labels looking to sell albums as NFTs. Bitski is also compatible with blockchain-based games. Other artists and musicians may get influenced by Jay Z NFT investments as he has proved himself to be a successful investor.




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