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3 Things Many Newcomers Still Don’t Realize About Buying Cryptocurrencies

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Bitcoin and cryptocurrencies as a whole are having a crazy year right now, with bitcoin reaching heights few would have expected. As with any cryptocurrency boom, many outsiders are getting curious and want to start investing. 

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Crypto is one of the most popular financial assets at the moment, but also one of the most misunderstood. Even gurus in the industry will admit that a lot of what they say is pure speculation and that no one truly knows what’s going to happen in the markets. This is why you need to be informed before jumping head-first and betting your home on the next crypto craze. Let’s take a look at some of the things newcomers still don’t realize about buying cryptocurrencies.

You Can’t Just Buy Crypto

One of the things that surprises a lot of people when they first try to buy crypto is how complex the process is. Exchanging your dollars for cryptocurrency is a bit more complicated than you might think.

You first need to look at a cryptocurrency wallet if you want your funds to remain safe. These are not actual wallets but will store a copy of your public and private keys.

The public key will be visible to everyone and works like a mailbox address. The private key, on the other hand, will be like a key to your mailbox. This means that only you should have it. This also means that there is no way to get what’s in the mailbox if you lose the key.

This is why the very first thing you should do is look at a robust wallet. What complicates things even further is that some wallets are made for specific cryptocurrencies, like the Stargazer Wallet. So, before you even start, you will need to research different wallets and wallet types, as they will be crucial when it comes to storing your assets.

Crypto is a Beginner Friendly Asset

Far from it. Just because it’s on every YouTube channel and every evangelist is calling it the money for the people, there are few investments that are as cryptic, no pun intended, like crypto. Like we said earlier, even insiders are completely in the dark about certain movements with these currencies. Some have plummeted or skyrocketed overnight with observers scrambling for answers after the fact.

This is not like stocks with set calendar dates and clear events that you can point to. Some major movements may be caused by something seemingly benign, as we saw with dogecoin after it went on a wild ride after Elon Musk made an appearance on SNL. So, if you wanted to start with something, we do not advise you to do it with crypto.

Bitcoin Is not Like Legacy Payment Systems

A lot of people still seem to be under the impression that you can buy a cup of coffee with your bitcoin, but it has not reached that point yet. A dirty secret in the crypto industry is that bitcoin is not the best at handling small transactions, and there’s a strong chance it never will be without an add-on solution. Transactions can take a very long time with bitcoin and fees on small transactions can be prohibitively high, so don’t expect it to replace legacy systems anytime soon.

Now that you know a little bit more about crypto, we hope you’re going to make wise decisions with your first investments. We would suggest that you learn as much about crypto and investing as possible before you get started.

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Source: https://coinpedia.org/guest-post/things-about-buying-cryptocurrencies/

Coinpedia

XRP Price Feared To Plunge Down, Here Is When It Can Bounce Back!

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Ripple’s XRP in recent times has lagged with the bullish momentum which was required to maintain the uptrend. No doubt the XRP price had attempted to recover the losses yet the attempts appear to have failed as it failed to form higher highs.

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XRP’s daily chart price movements suggest that the price is currently trending within a very narrow and decisive phase. The price no matter has not yet broken the trend line but feared to do so as no significant bounce is seen on the daily chart.

xrpchart

As mentioned in the above chart, the price on the verge to enter the strong support zones which was a resistance level previously. And hence if these levels are flipped the next support levels may be much lower around $0.4.

Also Read: Ripple Moved 140.5M XRP in the last 20 hours! XRP Price Embarcks a Bullish Journey

However, the hourly chart points out a possible rebound as the price has failed to break below the trend line. Moreover, it has recorded a slight rebound with a little consolidation. And hence as predicted by a cryptocurrency investor and analyst, NFTeddy, the bullish structure is still intact. 

The price is successfully sustained above $0.819 levels, despite a notable dip in the 24-hour trading volume. Nevertheless, the price may explore higher high ditching the lower levels and with the updates of the Ripple-SEC phase, the XRP price is expected to propel towards a set target above $1 to hit $1.5.

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Source: https://coinpedia.org/price-analysis/xrp-pice-may-rebound-very-soon/

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Coinpedia

Dora Cake Swap Ready to Launch a Top DEX Exchange & Swapping Mechanism

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In a development which many people have not been aware of, Dora Cake Swap is set to launch the next generation of decentralized exchange, based on the Binance Smart Contract.  According to its website, the exchange will probably register the highest daily trading volumes within the next few months.

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There are several reasons why Dora Cake Swap will register very high trading volumes. First, since Dora Cake Swap exists on the Binance blockchain, many people will prefer it because of low transaction fees.  In fact, Binance gas fees are the lowest in the industry. Yet, its main competitors like ethereum and bitcoin have exorbitant transaction fees.

As a result, the trading fees on Dora Cake Swap will be comparatively low, attracting many users to the exchange.

Second, as the next generation of crypto exchange, Dora Cake Swap has outstanding offerings and features.   For instance, the exchange will not use order books to facilitate trades or in setting prices.  In contrast, it uses liquidity pool protocols to determine prices of the cryptocurrencies on the platform.

Another interesting feature is the peer –to-peer nature of the exchange, where there is swapping of the tokens or coins. Put differently,   Dora Cake Swap executes trades between users’ wallets, without taking custody of their assets. Therefore, the users maintain 100% ownership of their cryptocurrencies.

The Trading process

As a Binance chain based decentralized trading protocol, which offers automated liquidity provision, Dora Cake Swap supports secure and near instant exchange among Bep20 tokens.  Not surprisingly,  it has a big incentive for market makers as they get service fees without surrendering any commissions.

Listing on PancakeSwap 

While the staking of Doracakeswap has already begun with 120% APR, it is getting listed on Pancakeswap on 15th June. You may find project information below: 

  • Project name- Doracakeswap 
  • DORACake Smart Contract – 0x6283a457ed38e21ef9eaa72a08574dbe95c632a1
  • 20 Million tokens are locked. Click here to view 
  • 10 Million tokens for burn
  • 20 Millions tokens available for supply

Conclusion

In summary, Dora Cake Swap offers a highly rated cryptocurrency exchange, built on top class blockchain – Binance Smart Contract (BSC).  Definitely users would like the idea of maintaining 100% custody of their digital assets, yet benefiting greatly from low transaction fees.

Join Doracakeswap social media platform

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Source: https://coinpedia.org/press-release/dora-cake-swap-launch-a-top-dex/

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Coinpedia

Will Coinbase list Shiba Inu? Is the Dead Cat Bounce Underway For SHIB Price

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As SHIB continues to dip, the “Shiba Inu to the Moon” sentiment seems to have come crashing down. Investors’ interest has waned as a result of the negative price action. It’s now time to determine whether the bubble has finally burst or is it just a consequence of the broader crypto market’s meltdown.

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SHIB is currently trading at $0.00000567 down by 16% in the last 24 hours. This is a far cry from its ATH when its market cap was $13B last month, before the crypto market crisis toppled the rallies of most coins.

Shiba Inu price got some boost earlier this week when it was announced that its developers are aiming to build a new decentralized exchange (DEX) aiming to increase liquidity and trading volumes. Officially, the DEX is still being tested, but there is a buzz on social media that it is fully working and will be launched soon.

Will Coinbase Consider listing Shiba Inu?

The main catalyst that could pump prices now is the petition to list Shib Inu on Coinbase. Lately, the petition has gained immense traction. It is now the top signed petitions on change.org with 35000 signs. 

There is a definite possibility of Coinbase listing SHIB considering its listing of Doge in the past. Shib’s predecessor DOGE price gained great support after the listing. Will SHIB follow Doge’s growth trajectory is to be looked out for.

SHIB Price to Plunge further

The moving averages, as well as the  Momentum and MACD, all hint at a negative bias on the H4 chart of SHIB/USDT. The next level of interest is the $0.0000061 support level, which, if broken, might intensify the downturn even further.

If sentiment changes, SHIB will need to return to the hinge at $0.0.00000890 for confirmation of a trend reversal for the uptrend to resume. 

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Source: https://coinpedia.org/altcoin/will-coinbase-list-shiba-inu/

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Coinpedia

Ripple Moved 140.5M XRP in the last 20 hours! XRP Price Embarked On a Bullish Journey

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Whale Alert over the past 20 hours has made several tweets notifying the huge XRP transactions made by Ripple and other entities.

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The blockchain data provider has reported that the Ripple blockchain service provider and a couple of prominent digital trading venues have made many large XRP transactions.

Transaction Breakdown

  • 11.5M XRP Tokens were moved by Ripple to the BitGo Crypto Custody. It has recently been acquired by Mike Novogratz’s Galaxy Digital fund.
  • 65M XRP tokens were moved between Coinbase’s wallets. Coinbase is the largest US based crypto exchange that is now listed on Nasdaq.
  • 64 Million XRP tokens were transferred by Ripple’s ODL platform Bitstamp in Luxembourg.

What’s Up with XRP Price

The XRP Price after falling to $0.7850 recently, has picked up pace and is currently trading at $8.728. Indicators now suggest Xrp is set to have a bullish rally.

XRP soared from $0.8504 to $0.9076 after a quick spike and then jumped beyond the resistance to $0.9219 after some retracement.  The rising price, combined with a positive market, suggested that XRP traders were eager to purchase the asset in anticipation of larger gains.

So currently XRP is still showing bearish signs, however if we get BTC breaking up then we can expect the same to happen to the rest of the market or at least the majority of it. We will watch what price action does as prices fall to the first zone where some liquidity is held, if its enough liquidity then we can see the push higher in prices happen from there however if we fail to break trend as a whole market then expect prices to fall towards the lower two zones.

As for Ripple’s lawsuit with the SEC, there has been no conclusion yet. This long stretched suit is said to be the reason holding XRP back from a great price rally. 

Ripple Labs, its CEO Garlinghouse, and Co-founder Chris Larsen have been accused of trading unregistered security by US regulator agency SEC. The lawsuit has been in process for a long while now.

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Source: https://coinpedia.org/ripple/xrp-price-embarked-on-a-bullish-journey/

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