Strategies for trading cryptocurrency during a correction, explained

A correction refers to a rapid price decrease, which traders can use to their advantage with the assistance of cryptocurrency trading bots. Although the definition for a correction differs, it is most often used to describe a rapid decrease in an asset’s price, usually at least 10% and up to 20%. If an asset falls more than that, the price dip is classified as a market crash. Corrections are often the result of a minor event, such as low trading volumes or other technical factors. They, therefore, occur fairly regularly,…

NYC Mayor Adams to receive first paycheck in cryptocurrency Friday

On Thursday, New York City Mayor Eric Adams announced he would be taking his first paycheck in Bitcoin (BTC) and Ether (ETH), with the funds arriving Friday. The salary will not be directly paid out as crypto; instead, it will be first issued in fiat as U.S. dollars and then converted into the digital currencies on crypCoinbase. Due to United States Department of Labor and various state-level regulations, resident U.S. employees typically cannot receive their remuneration directly in cryptocurrency. This is partly because the Internal Revenue Service classifies dollar wage payments…

5 ways derivatives could change the cryptocurrency sector in 2022

We‘ve all heard stories of billion-dollar future contracts liquidations being the cause of 25% intraday price crashes in Bitcoin (BTC) and Ether (ETH) but the truth is, the industry has been plagued by 100x leverage instruments since BitMEX launched its perpetual futures contract in May 2016. The derivatives industry goes far beyond these retail-driven instruments, as institutional clients, mutual funds, market makers and professional traders can benefit from using the instrument‘s hedging capabilities. In April 2020, Renaissance Technologies, a $130 billion hedge fund, received the green light to invest in…

SEBI chief warns Indian mutual funds on investing in cryptocurrency offerings

The Chairman of the Securities and Exchange Board of India (SEBI) Ajay Tyagi urged mutual funds to avoid investing in crypto-related assets as the government considers new cryptocurrency rules. Speaking at a press conference on Tuesday, Tyagi advised firms to refrain from investing in funds linked to crypto assets until there is clarity on the policy and regulatory framework. “Those who have invested in mutual funds, – in companies related to crypto assets or foreign firms through fund-of-funds (FOF) – my thinking is that till we get clarity on its…

Spreading holiday joy through charitable giving with cryptocurrency

The holidays are the perfect time of the year for giving back, and the rise of cryptocurrencies has created even more opportunities for charitable initiatives. This was highlighted during Giving Tuesday 2021, the Tuesday after Thanksgiving which saw over $2.4 million raised in cryptocurrency from the nonprofit fundraising platform The Giving Block. As crypto philanthropy becomes a new subsector of the cryptocurrency economy, some in the industry believe that crypto donations will only continue to increase. Alex Wilson, co-founder of The Giving Block, told Cointelegraph that last year the organization…

Child prodigy with 162 IQ wants cryptocurrency for Christmas and gets it

The wish of owning cryptocurrencies this Christmas came true for a 12-year-old schoolkid with an intelligence quotient (IQ) higher than Albert Einstein.  Barnaby Swinburn, a resident of Bristol, England had asked for two Christmas presents, a Mensa test for testing his IQ and a cryptocurrency portfolio. According to BristolLive, Swinburn scored the highest possible score of 162 on the test, beating Einstien’s IQ of 160. As a result, the schoolboy became a member of the high-IQ society, which intakes the top 2% of the highest Mensa scorers. Speaking about cryptocurrencies,…

5 cryptocurrency projects that made waves in 2021

2021 was a breakout year for the cryptocurrency market in many respects and most investors are absolutely thrilled that Bitcoin (BTC) price established a new all-time high of $68,789. In the same timeframe, Ether (ETH) went on a parabolic rally which saw its price gain 565% from Jan. 1 to hit a record high at $4,859 on Nov. 10. While it was a banner year for large cap cryptocurrencies, some of the biggest gains and most impactful developments came from the altcoin market where decentralized finance (DeFi) and nonfungible tokens…

Telegram-verified payments bot to accept Toncoin cryptocurrency

Telegram co-founder and CEO Pavel Durov has expressed excitement about the Telegram Open Network (TON) technology still developing after Telegram officially abandoned the project last year. “I’m proud that the technology we created is alive and evolving. When it comes to scalability and speed, TON is still years ahead of everything else in the blockchain realm,” Durov said in a Telegram post on Thursday. He noted that the project rebranded from TON to Toncoin. Unlike the original TON, the new project is independent of Telegram. “But I wish its team…

IMF chief economist calls for global policy on cryptocurrency

Gita Gopinath, the chief economist of the International Monetary Fund (IMF), has called for a global policy to be put in place that will regulate cryptocurrency, instead of banning it. Pitching for a global policy, Gopinath, who will soon take charge as the deputy managing director of the IMF, argued that if countries were to ban crypto then they would not have any control over offshore exchanges that are not subject to their country’s regulations, which could result in them being ignored completely. “There are challenges to banning it whether…

How to invest in cryptocurrency when the market is uncertain, explained

Wallets that take out some of the steps in exchanging assets can help investors act on market opportunities quickly. Freewallet offers a family of mobile-first cryptocurrency wallets with built-in functionality for buying and exchanging cryptocurrency assets. Freewallet launched its first offering back in 2016 at the beginning of the cryptocurrency boom. Following this period of growth, the platform has now reported over 3 million users. Looking forward to today, the Freewallet family now includes solutions for over 100 different cryptocurrencies, each of which is available for iOS, Android and desktop.…