First, it was a dog that inspired a cryptocurrency. Then it was the logo of that cryptocurrency that gave birth to a new one. Yup, we are talking about the Shiba Inu coin. Its developers say that it is an improved version of the Dogecoin.
The Bitcoin and crypto frenzy has returned. Many new-age investors are looking at crypto as an investment asset. But there are debates over its sustainability as many regulators do not consider Bitcoin or other cryptocurrencies like Litecoin, Dogecoin, or Ethereum as a legal currency. Canada is taking a step closer to accepting Bitcoin and even introduced Bitcoin ETFs. The Canada Revenue Agency (CRA) is also cracking down on the crypto gains for taxes.
Who would have thought that the market cap of a cryptocurrency modeled on a Shiba Inu dog as a joke would be worth more than Ford Motors or Kraft Foods? Well, that is exactly the space that Dogecoin (DOGE) found itself in over the weekend. For a brief period, DOGE’s market cap topped $50 billion, beating Ford and Kraft. Now, at a market cap of $42.6 billion, DOGE is still sitting very pretty.
What is Bitcoin? It’s a cryptocurrency, a digital token that some companies are beginning to accept instead of money. Many call it digital gold as it is considered to be the future alternative to paper currency, it is limited, and it needs to be mined. It has caught the attention of many companies, hedge funds, and billionaire investors.
One of the most promising investment instruments right now is the cryptocurrency one. Bitcoin and other cryptocurrencies have risen exponentially over the last decade. In July 2010, the price of one Bitcoin was $0.08. It is currently over $16,000.
This means if you would have bought bitcoin worth $100 in 2010 for $0.08 your investment would have ballooned to $20 million today. Bitcoin touched a record high of $20,000 back in December 2017 and then crashed to $3,100 a year later. Since March 2020 it has more than doubled and is again on the radar of crypto enthusiasts.
When it comes to stock trading, an aspect that is severely overlooked is the social side of things. Like other professions, hobbies, and interests there is usually communities or networks where like-minded people can discuss together to learn and get a better grasp of ideas. Within stock trading and stock investing, there are a plethora of tools and services that allow you to get better data and make traders faster and cheaper, but there still aren’t enough social sites that provide value to their members. Sure there are many stock investing forums already in existence but there are limited networks designed to discuss and see what others are trading in real-time. eToro is a great site that allows it’s users to copy porfolio’’s of others, something that is beginning to be known as social trading. Unfortunately Canadians are taken to a page all to familiar when trying to go on eToro’s website.
One of the best ways to learn about cryptocurrencies is through trading communities. As a community ourselves, we thought it would be fair to share others that are popular! These communities allow you to interact with others involved in cryptocurrencies and share ideas. You also get to discuss the latest events in the crypto space. With this in mind, you are probably wondering, which are some of the best online trading platforms out there? Well, there are many of them, but to help you join the best, let’s look at the top 25 cryptocurrency trading platforms you can join.
To make money from cryptocurrencies, you have to be up to date on the latest information on this lucrative industry. There is no better way to get this information than through influencers. These are individuals who are dedicated to not just trading, but also setting the trends when it comes to the crypto space. They are the people who can make a statement and the markets will listen. So who are some of the best influencers to follow in 2018? To help you out with this, Hashtag investing looks at the top 25 influencers to follow, and reap big in cryptos.