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NEXO Lending Review: Instant Crypto Backed Loans

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NEXO is a project which has recently garnered quite a bit of interest in the cryptocurrency community.

Not only is NEXO being developed by a large FinTech company but they are also being backed by some pretty influential names in the cryptocurrency space. The NEXO token has also been gathering quite a bit of momentum over the past few weeks.

However, what is NEXO exactly and should you consider it?

In this comprehensive Nexo review, I will attempt to answer that. I will also give you an in-depth guide to getting started with crypto lending.

What is NEXO?

NEXO is a project that’s aiming to provide lending services while using cryptocurrencies as collateral. While there are certainly some issues that will need to be ironed out to make this work successfully, the team seems to be well on its way, and has strong backing. With NEXO cryptocurrency owners will be able to get fiat currency if needed, but still maintain ownership of their digital assets.

It’s the best of both worlds.

Nexo Coin Breakdown
Steps to get an Instant Loan on Nexo

It works by allowing borrowers to lock up cryptocurrencies as collateral in exchange for fiat currency. The cash is either sent directly to a bank account, or it can be added to a debit card. In case of market volatility (which is almost a given with cryptocurrencies) the limit on the debit card will adjust in response to changes in the market value of the underlying cryptocurrency.

Loan Repayment with NEXO

Any loans taken can be easily repaid using cryptocurrency, fiat currency, or the Nexo token. They have made it as easy as possible to repay any loans. Compare this with the closest Nexo competitor SALT, who only accepts loan repayment in fiat currency.

NEXO Market Access

While Nexo is based in Switzerland, it makes its loans available worldwide. Anyone who holds cryptocurrency can take advantage of a Nexo loan. And since the loans are fully collateralized there’s no need for borrowers to worry about credit history or approvals.

Of course the use-cases for Nexo loans will be limited since they’re collateral backed, but the use of cryptocurrencies as collateral makes for a compelling alternative for those who hold cryptocurrencies and don’t want to sell yet and give up future gains, but still need fiat currency to access certain opportunities.

NEXO and Regulation

Nexo has been very clear in stating that the NEXO token is a security token, and that it is compliant with the Securities and Exchange Commission Regulation D Rule 506(c).

They refer to the Nexo token in their documentation as a dividend paying asset which is backed by collateralized assets.

While traditional institutions don’t yet recognize it, there is a difference between fiat as collateral and crypto-assets as collateral in that crypto-assets have additional utility.

It seems fortunate that Nexo has been upfront about the status of their crypto-asset, and that they are making every effort to remain compliant with U.S. regulations.

Using the NEXO Token

One incentive for holding the NEXO token is that it pays dividends to holders. Thirty percent of the profits generated from Nexo loans goes to a dividend pool that is then distributed to NEXO holders. Currently dividend payments are being made in Ethereum (ETH), but there’s a good chance that this will expand to other cryptocurrencies in the future.

The most recent payment was in August 2019, with just over $2.4 million being distributed to NEXO holders. The NEXO team claims this dividend is equal to a 12.73% annual yield on NEXO holdings.

Benefits of Investing in Nexo
The benefits of investing in NEXO tokens

Besides being a source of dividends, the NEXO tokens can also be used to repay loans, and the incentive for this is a reduction in repayment interest on the loans. This is similar to bank loans that offer lower interest rates or a discount when auto-payment is set-up. Holding more NEXO tokens in your wallet will also unlock higher loan limits.

How Nexo Handles Crypto Volatility

Cryptocurrencies are the most volatile assets on the planet, with daily price swings of 10% commonplace, and monthly price swings of 50% or more not unusual. Stablecoins like TrueUSD and Tether (USDT) have learned to deal with upside price moves, but still struggle with falling prices.

Nexo plans on using a concept from traditional lending known as Loan-to-Value to assess risk. In traditional lending a borrower who is considered a default risk is given a higher LTV.

Loan to Value example
Loan to Value vs. Liquidity. Image Source: BDC

Nexo uses an algorithm called the Nexo Oracle to determine the LTV ratio for borrowers. Given the volatility that comes with cryptocurrencies it’s likely that LTV ratios will often be greater than 50%, unless cryptocurrencies become far less volatile (which has been occurring for Bitcoin). In practice this means if you have $10,000 in Bitcoin in your wallet and the LTV is 50% you’ll be able to take a loan for 50% of your wallet Bitcoin balance, or $5,000.

The Nexo Oracle will work to avoid a situation similar to the U.S. housing crisis, when many home values dropped below the value of the loans on those properties. Because there is always a risk of declining asset values in the cryptocurrency markets the Nexo Oracle will be used to issue margin calls.

The Oracle will also issue notifications to borrowers that additional collateral is needed to maintain a loan in good standing. When a borrower ails to heed these notifications they risk having their loans forcibly liquidated to reclaim the proper LTV ratio.

The Nexo Oracle

The Nexo platform uses a technology called the Nexo Oracle to monitor and regulate all aspects of the platform including analytics, loan distribution, asset monitoring, wallet maintenance, and others.

When borrowing on the platform the borrowers send their cryptocurrency to the Nexo crypto overdraft wallet. The issuance of the loan and repayments are taken care of directly by the borrower through the Nexo user interface. The user interface is available as a web-based version and a mobile version was released in June 2019.

Eventually, the platform will be available on desktop as well, and by adding a physical credit card the entire platform and process will be familiar even to non-cryptocurrency users. This is intended to increase the adoption rate of the platform. The team is getting closer to this goal too, with a debit card being released in August.

The Nexo Team

Nexo has a core team of 14 members, most of whom also hold high-level positions at the European consumer FinTech company Credissimo. Kosta Kantchev is the chief managing partner and co-founder of Nexo, and he was also a co-founder of Credissimo.

A second managing partner and co-founder of Nexo is Antoni Trenchev, who was previously a Member of Parliament at the National Assembly of the Republic of Bulgaria. He also has more than 7 years of experience in e-commerce development and strategy as well as automation of e-commerce processes.

The third managing partner and also a co-founder of Nexo is Georgi Shulev. He has more than 6 years of experience in the investment banking industry and was a co-founder of Consestimate, an open financial estimates platform.

Credissimo Statistics
Credissimo by the numbers

On the IT side, the fourth co-founder of Nexo is Vasil Petrov, who brought over 16 years of experience in system administration, back-end development and architecture to the Nexo project.

Advisors of Nexo include Michael Arrington, who was the founder of TechCrunch as well as Arrington XRP Capital. Trevor Koverko, the founder of Polymath is a second advisor, and the advisory team is rounded out by Ugo Bechis who brings 40+ years of experience in SEPA compliance and finance to the project.

The NEXO Community

Nexo had some problems with community members defecting after it seemingly put its monthly dividend payments on hold. In addition to complaints about the project not honoring this commitment there were additional complaints about the company not honoring other commitments, and not meeting promised deadlines.

Even so, there is a pretty large social media following for NEXO. Their Twitter account has 42,900 followers, and although the interaction with posts isn’t all that strong there is some interaction on each post.

The NEXO subreddit is considerably smaller, with just over 2,700 followers, however, it is also more active. There are posts made nearly every day, and there are a good number of responses and comments to each post, showing this is a small, but strong community of NEXO enthusiasts.

The largest community by far is the NEXO Telegram, which is where the team is most active, and which has 32,300 members. Surprisingly the Facebook group for NEXO is also quite large for a crypto project, with over 26,000 people following the page.

Competiting Platforms

Of course, NEXO does not operate in a vacuum and there are already other cryptocurrency lending platforms that offer similar opportunities.

The main differences that these have with Nexo is where they offer their loans as well as the type of collateral. They will also have different interest rate dynamics that drive their ecosystems

Nexo vs. Salt

The first and best known of these is SALT. SALT stands for Secure Automated Lending Technology and it was one first project to offer cryptocurrency lending opportunities.

SALT has more market access than Nexo and they are based in the United States. At the time of writing they are available in 33 US states as well as countries such as the UK, Switzerland, Puerto Rico and the UAE.

Salt is a collateral based platform that differs from Nexo in that they have different tiers for the lending. Those who own more SALT are able to unlock more benefits. With Salt you also only have crypto for collateral whereas Nexo also allows for NEXO.

Salt vs. Nexo
SALT vs. Nexo Lending

Salt is also quite centralised where SALT lending will facilitate all of the loans. Before you can apply for a loan you have to be a member of the SALT platform which will require SALT tokens.

Nexo vs. Ethlend

Another competing platform of Nexo is ETHLend. This is perhaps one of the most decentralised lending platforms which is being built as a decentralised application or dApp.

While this is a truely Peer-to-Peer lending platform, it differs from Nexo in that it does not deal with any Fiat currency. You can only get a loan in an ERC20 cryptocurrency (Ethereum for Maker to DAI for instance).

One benefit that Nexo has over ETHLend is its instant loans. Like Salt lending, ETHLend is a Peer-to-Peer lending platform. This means you will have to wait until you find someone on the opposite side of the lending contract.

Moreover, this P2P nature of the ETHLend platform means that the interest rate that you will pay will vary. AT Nexo, the interest rate is fixed and all users of the platform will have the same Loan to Value (LTV).

Nexo Roadmap

Nexo had an aggressive roadmap back in 2018, but has abandoned it and currently there is no official roadmap. That prior roadmap included the introduction of a Nexo credit card by the fourth quarter of 2018, the second Nexo airdrop, and the release of a Nexo mobile wallet.

They were able to deliver the airdrop on time, the Nexo credit card has become a debit card that was finally released as an alpha version in August 2019, and the Nexo mobile wallet was also delayed to a June 2019 release.

Nexo Card
The Nexo Card Finally Released. Image via Nexo Blog

Previously there were plans for Nexo to acquire an FDIC-insured bank, and while that hasn’t become a reality, Nexo has been able to secure funding that allows them to offer loans at 5.9% APR.

They are also paying interest on USD, EUR, and GBP, with plans to add more fiat currencies in the future. On the crypto side, they are paying interest on USDT, TUSD, USDC, PAX, and DAI.

NEXO Token

NEXO conducted its ICO on April 1, 2018 raising $52.5 million and selling tokens for $0.10 each. Subsequently, the NEXO token began trading on May 1, 2018 at $0.190647. It rose quickly and hit its all-time high of $0.539466 just a week later on May 7, 2018.

Of course, this was during the huge bear market in cryptocurrencies and price quickly retreated from that all-time high. By September 12, 2018 the price was at its all-time low of $0.043333, or less than half the ICO price.

Then followed a strong rally from late September through the end of October which took the NEXO token back to the $0.19 level. That rally occurred following NEXO’s announcement of a monthly dividend payment for holders of the NEXO token.

NEXO Price Performance
NEXO Price Performance. Image via CMC

Unfortunately, the monthy dividend distributions have not become a reality. After making the first dividend payment in December 2018, NEXO holders then had to wait until August 2019 for another dividend payment.

The next dividend distribution is expected to be in December 2019. The dividend amount is 30% of the company’s profits and the August 2019 payout was more than $2.4 million, representing a 12.73% annual yield according to NEXO.

In 2019 the NEXO token has been fairly stable, remaining in a range of $0.07 to $0.10 for the most part.

As of early November 2019 it is at the top of that range, trading at $0.102927 and listed as the 79th largest coin by market capitalization according to Coinmarketcap.com.

Trading & Storing NEXO

The majority of trading volume for NEXO is at the Hotbit exchange. There is also acceptable volumes at Huobi Global and Bitrue, The NEXO token is available at a handful of other exchanges too, but there is marginal volumes.

However, this concentration of the NEXO token trading volume on HotBit could be a concern from a market liquidity perspective. It means that volumes and prices for NEXO are unevenly impacted by movements on HotBit.

Those interested in holding NEXO for the dividend will need to hold the token either in the wallet provided in your account on the NEXO platform, or in the NEXO mobile wallets.

Taking a bit of a closer look at these Nexo mobile wallets, they are available in both iOS and Android. The reviews on the Google Play Store and iTunes store appear to be quite positive.

NEXO App Ratings
Nexo Mobile App Ratings

Something else that I found quite positive about this was that even for those users who had something to complain about, the Nexo service team was quick to respond. This shows that they are concerned about what their users have to say.

Of course, given that NEXO are ERC20 tokens, it means that you can store them in any wallet that supports Ethereum. These include numerous online wallets, mobile, desktop and mobile wallets. Take note though that you won’t be able to earn your interest in these.

Conclusion

If you believe that cryptocurrencies have real-world utility as a means of payment and transfer of value then you should believe in the Nexo project. A lending platform that allows cryptocurrency holders to unlock the trillions of dollars of value without having to give up ownership of their cryptocurrencies is a huge deal.

Beside simply unlocking value, Nexo loans can allow cryptocurrency holders access to funds without the need to pay taxes on what could be significant profits from their crypto-holdings.

The fact that the team has more than 10 years of experience running an established financial services firm is another positive for Nexo. You can be sure they analyzed the need for cryptocurrency lending services, and with their experience they are well suited to see this project to success. They also have solid help from advisors such as Michael Arrington, the founder of TechCrunch.

There is a very good possibility that cryptocurrency lending could become a multi-billion dollar industry, and could potentially see itself as a trillion dollar industry if crpytocurrencies escalate in value as some financial advisors have suggested they will.

With that scale market on the horizon now could be a very good time to get in on Nexo at its infant stages.

Featured Image via Shutterstock

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

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Bitcoin und Ethereum Analyse: NUPL-Werte signalisieren weitere Kurssteigerungen

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In diesem Artikel zeigt dir BeInCrypto den NUPL-On-Chain-Indikator. Der NUP-Wert (Net Unrealized Profit/Loss) eignet sich ganz gut, wenn man die Top eines Asset-Kurses bestimmen möchte.

Auch wenn der Bitcoin-NUPL-Wert bereits deutlich zugenommen hat, so ist er immer noch einige Prozentpunkte von den letzten drei Spitzenwerten entfernt. Der Indikator ist in der Vergangenheit auf diese Spitzenwerte angestiegen, kurz nachdem bzw. bevor der Bitcoin Kurs die jeweilige Top des Bull-Cycles erreicht hat.

Der Ethereum-NUPL-Wert ist vergleichsweise zurzeit sogar noch weiter von den damaligen Spitzenwerten entfernt. Kurz davor bzw. danach erreichte auch der Ethereum Kurs seine damaligen Höchststände bzw. Tops.

Wie kann man den NUPL-Wert berechnen?

Der NUPL-Wert wurde geschaffen, um die Profite bzw. Verluste des zirkulierenden Supplys eines Coins zu messen bzw. quantifizieren. Man kann den NUPL-Wert ausrechnen, indem man die realisierten Verluste von den realisierten Gewinnen abzieht.

Die nicht-realisierten Profite entsprechen dem Gesamtwert aller Coins, dessen aktueller Preis höher ist als ihr Einkaufspreis. Analog dazu entsprechen die nicht-realisierten Verluste dem Gesamtwert aller Coins, dessen aktueller Kurs niedriger ist als ihr Einkaufspreis. Ist der Wert negativ, dann gibt es mehr Netto-Verluste als Netto-Gewinne.

Bitcoin NUPL Analyse

Gängigerweise spricht man bei einem Wert von -0,25 von einer „Capitulation“ („Kapitulation“) des Marktes. Bei einem Wert von über 0,75 geht man von einer „Euphorie“ („Euphoria“) des Marktes aus. Wenn der Wert über 0,25 und unterhalb von 0,5 liegt, dann herrscht „Optimismus“ („Optimism“) auf dem Markt. Bei Werten von über 0,5 sind die Markteilnehmer von dem Asset überzeugt bzw. glauben an Dieses („Belief“).

Kurz nachdem der Bitcoin Kurs 2011 das damalige Allzeithoch erreicht hat, lag der Wert des Indikators bei 0,878. Dieser Wert ist der höchste jemals aufgezeichnete Bitcoin-NUPL-Wert. 2013 erreichte der NUPL den nächsten Spitzenwert (0,824). Der darauffolgende Peak lag bei 0,838. Bei dem Ende des Bullruns von 2017 stieg der Wert auf 0,793 an.

Bitcoin NUPL Indikator Glassnode
Bitcoin NUPL Chart By Glassnode

Abgesehen von den Rekordwerten ist auch der Zeitraum ab dem 21. Oktober 2020 bemerkenswert. Zu diesem Zeitpunkt ist der NUPL-Wert über 0,5 angestiegen („Belief“). Interessanterweise erreichte der NUPL-Wert am 21. Februar 2021 den letzten lokalen Hochpunkt. Der Bitcoin Kurs stieg fast zum selben Zeitpunkt auf das damalige Allzeithoch (57.432 US-Dollar) an.

Zum Zeitpunkt der Veröffentlichung dieses Artikels liegt der NUPL-Wert bei 0,71. Der Bitcoin Preis hat allerdings am 14. April 2021 ebenfalls ein neues bzw. das letzte Allzeithoch erreicht. Sollte der Bitcoin Kurs also tatsächlich bereits jetzt oder in sehr naher Zukunft die Top erreicht haben, dann wäre dies der mit Abstand kleinste Bitcoin-NUPL-Wert, der jemals während einer Top aufgetreten wäre.

Bitcoin NUPL Indikator Glassnode 2
Bitcoin NUPL Chart By Glassnode

Ethereum NUPL Analyse

Der NUPL-Indikator lieferte bis jetzt auch äußert qualitative Signale für die Bestimmung der Etherum-Tops. 2016 lag der Spitzenwert des Indikators bei 0,872, 2017 sogar bei 0,96 und 2018 bei 0,912.

Ethereum NUPL Indikator Glassnode
Ethereum NUPL Chart By Glassnode

Im November 2020 stieg der ETH-NUPL-Wert auf über 0,5 an. Das letzte lokale Maximum lag bei 0,734. Zu diesem Zeitpunkt war der Ethereum Kurs noch bei 1.953 US-Dollar. Der Ethereum Preis ist danach auf ein neues Allzeithoch angestiegen, der ETH-NUPL-Wert aber auf 0,718 gefallen.

Da der NUPL-Wert noch verhältnismäßig weit von seinen letzten Spitzenwerten (ca. 0,90) entfernt ist, sieht es so aus, als ob der Ethereum Kurs noch weiter ansteigen wird.

Ethereum NUPL 2 Glassnode
Ethereum NUPL Chart By Glassnode

Fazit

Auch wenn der Markt aktuell definitiv überhitzt wirkt, so signalisieren weder der Bitcoin- noch der Ethereum-NUPL-Wert, dass die Kurse der Assets ihre Top bereits erreicht haben. Deshalb werden der Bitcoin Preis und insbesondere der Ethereum Kurs noch weiter ansteigen.

Hier geht es zur letzten Bitcoin-Analyse von BeInCrypto!

Eine interessante Krypto-Exchange für das Krypto-Trading und Investment in die verschiedenen Kryptowährungen: Stormgain.

Ein Bild von BeInCrypto

Übersetzt von Maximilian M.

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Alle auf unserer Website enthaltenen Informationen werden nach bestem Wissen und Gewissen recherchiert. Die journalistischen Beiträge dienen nur allgemeinen Informationszwecken. Jede Handlung, die der Leser aufgrund der auf unserer Website gefundenen Informationen vornimmt, geschieht ausschließlich auf eigenes Risiko.

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Valdrin ist ein Kryptowährungs-Enthusiast und Finanzhändler. Nach seinem Master-Abschluss in Finanzmärkten an der Barcelona Graduate School of Economics begann er im Ministerium für wirtschaftliche Entwicklung in seinem Heimatland Kosovo zu arbeiten. Im Jahr 2019 beschloss er, sich ganz auf Kryptowährungen und den Handel zu konzentrieren.

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Source: https://de.beincrypto.com/bitcoin-ethereum-analyse-nupl-weitere-kurssteigerungen/

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Reddit WallStreetBets startet Diskussion über Bitcoin, Ethereum und Dogecoin

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Das Reddit-Forum WallStreetBets (WSB) startet nun auch Diskussionen rund um Bitcoin, Ethereum und Dogecoin. Zuletzt bekamen die Trader von WallStreetBets große Aufmerksamkeit für das Pushen der Erhöhung des Aktienkurses von GameStop.

Seitdem großen Wirbel um die GameStop Aktie ist es um die WallStreetBets Trader eher ruhig geworden. Doch nun könnte es wieder spannend werden, wenn die WallStreetBets Trader große Kryptowährungen in ihre Diskussionen mit aufnehmen.

Moderator „bawse1“ erklärt:

„Nach langen Überlegungen haben wir beschlossen, nur über BTC, ETH und DOGE zu diskutieren. Innerhalb eines täglichen Crypto-Diskussionsthreads, um nicht jeden mit Crypto-Spam zu belasten. Alle Regeln gelten weiterhin außerhalb des Threads, aber bitte macht dies vorerst nur im täglichen Thread, bis wir ausreichend beurteilt haben, ob dies für unser Sub richtig ist.“

Zunächst sollen die Diskussionen tatsächlich auf Bitcoin, Ethereum und Dogecoin beschränkt sein, obwohl natürlich auch andere Kryptowährungen äußerst beliebte Trading-Assets sind. Für den Reddit-Moderator ist die Integration von Bitcoin, Ethereum und Dogecoin ein Versuch die an Krypto interessierten Gruppenmitglieder nicht zu vernachlässigen:

„Um ganz klar zu sein, wir sind kein Crypto-Subreddit. Wir versuchen nur, einen Platz für euch in unserem Subreddit zu finden.“

Bitcoin Chart: Ein Bild von BeInCrypto.com
Bitcoin Chart: Ein Bild von BeInCrypto.com

WallStreetBets und Dogecoin

„Unser Hauptanliegen ist, dass die Kryptodiskussion den Kern dessen überholt, worum es bei r/wallstreetbets geht, nämlich um den Aktienmarkt.“

Allerdings führt der Moderator auch an, dass WallStreetBets sich dem Thema Krypto nicht weiter verschließen kann:

„Ich sehe keinen Grund mehr, das Unvermeidliche zu verzögern, da Krypto hierbleiben wird.“

Die Diskussionen über Dogecoin sind im Reddit Forum WallStreetBets allerdings nicht neu, obwohl es im Grunde ausschließlich um den Aktienmarkt gehen soll. Denn im Zuge des GameStop Aktien-Pumps hatten sich auch einige Trader am Dogecoin versucht.

SatoshiSwap Token auf Reddit

Die Subreddit-Gruppe SatoshiStreetBets, die sich selbst als „Krypto-Version von WallStreetBets“ bezeichnet, hält außerdem eine weitere kryptografische Neuheit für die Redditer bereit. Eigene Token namens SAS.

„Ich bin stolz darauf, heute die erste Entwicklung von SatoshiSwap bekannt zu geben, einer Kryptowährung und DAO, die von den beliebten UniSwap- und SushiSwap-Projekten inspiriert und für die Mitglieder von SatoshiStreetBets entwickelt wurde. SatoshiStreetBets startet dieses Token aus drei Gründen.“

Die SAS Token fungieren als Utility-Governance-Token für die Gruppe. Die Mitglieder können die SAS Token für Reddit-Posts an die Mitglieder senden.

„SatoshiSwap wird von u/little-eagle gegründet, der auch der Gründer von SatoshiStreetBets und Head Mod von r/SatoshiStreetBets, discord.gg/SatoshiStreetBets, ist und twitter.com/toshistreetbets betreibt.“

Allerdings haben die Redditer auch Zweifel an den SatoshiSwap Token, wie dieses Mitglied im Detail ausführt:

Ein Screenshot von Reddit
Ein Screenshot von Reddit

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Alex hat ihren Bachelor in Orient- und Asienwissenschaften an der Friedrich-Wilhelms Universität Bonn absolviert, danach Deutsch als Fremdsprache am Goethe Institut studiert und ihren Master in Arabistik an der Freien Universität Berlin absolviert. Seit 2017 ist sie als Krypto-Journalistin tätig.

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7 Things You Should Know Before Buying Crypto in Australia

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Cryptocurrency investments have increased dramatically over the last couple of years in Australia. 

Values have shot up by more than 1,000% for popular cryptos like Bitcoin, Ethereum, Ripple,

Litecoin and Cardano. Any Australian who purchased cryptos a few years ago is feeling happy right now.

Are you interested in buying crypto too? If you are, there are some things you need to know first. Even though crypto investments can be profitable, they also can be extremely risky. 

You must educate yourself on the crypto marketplace before purchasing any cryptos with your hard-earned money.

Below are the top seven things you should know before buying crypto in Australia.

1) Pick a Good Exchange

Cryptos are bought and sold on a crypto currency exchange. Some of the most prominent Australian crypto exchanges include Binance, Coinbase, Kraken, Swyftx, and Coinspot. 

Each crypto exchange has its pros and cons. For instance, Binance offers the widest selection of altcoins. 

These are cryptos other than Bitcoin, such as Litecoin and Ethereum. While Bitcoin might get the most publicity, at least 40% of the crypto market is devoted to other cryptos. Their prices are a lot cheaper than Bitcoin too.

Swyftx offers low crypto trading fees and high-quality features. Coinbase allows you to pay with a debit card rather than a bank account. Therefore, the choice you make depends on your particular trading preferences.

2) Avoid Scammers

Social media platforms are consumed with so-called crypto gurus and experts. They will try to sell you training videos or provide crypto investment strategies for making a lot of money with

Bitcoin. 

Their claims might state that Bitcoin will be worth $1 million in 10 years, so you must invest in it now.

The truth is that nobody knows where Bitcoin will be in 10 years. It is a speculative asset with no tangible value. The vast volatility of Bitcoin and altcoins are based on speculation alone. Remember that.

3) Investment Small Amounts

The crypto market is highly volatile. Bitcoin could go from a value of $60,000 per coin to $45,000 in just one day. 

If you invest large sums of money, it is possible to lose 30% to 40% in the blink of an eye. That is why you should invest small amounts of money that you can afford to lose.

The good news is that you do not have to pay the total value of one coin. The crypto market allows you to purchase a fraction of a coin at a lower cost.

For example, if Bitcoin is valued at $50,000 per coin, you could spend only $100 and purchase 0.002 worth of Bitcoin rather than one complete coin.

4) Join an Online Crypto Community

You can get a free crypto education by joining an online community composed of other crypto investors. 

It gives crypto enthusiasts a chance to share news and information about the crypto market. Reddit and Facebook Groups have some good crypto communities.

Just beware of scammers and self-promoters. The active community discussions can give you a basic sense of what is going on in the market. However, do not rely on these communities to provide you with investment advice.

5) Create Your Own Strategies

Create your own crypto trading strategies. It is challenging to make accurate predictions, but most strategists will rely on global economic news to form their strategies. 

If inflation is high on popular national currencies, then more people will want to invest in cryptos.

Do not invest in crypto until you know how much you want to spend and how much you want to earn. 

Stick to your strategy, no matter what, to avoid making investment mistakes.

6) Look for Exchanges Accepting Australian Currency

You might be surprised to learn that many popular crypto exchanges do not accept AUD currency. 

Sometimes you will have the option to convert your currency into an accepted currency before purchasing crypto. 

But you will have to pay additional fees to do it. It is better to find a crypto exchange that accepts AUD. A few of these exchanges include Biance, Liquid and Huobi Global.

7) Limited Regulations

Crypto markets are still somewhat new to Australia. They do not have as much financial regulatory oversight compared to traditional securities markets. That makes the crypto market even riskier for investors.

On the upside, some crypto exchanges offer insurance coverage to their members. This

insurance covers crypto theft and loss due to hackers and technical malfunctions. Look for these insurance plans as you research various crypto exchanges.

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Bitfinex-Hacker versenden BTC im Wert von 750 Millionen USD

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Die Hacker, die 2016 knapp 120.000 Bitcoins gestohlen haben, haben am 14. April 2021 rund 10% davon bewegt. Diese 10% sind heute umgerechnet über 750 Millionen US-Dollar wert. Marktanalysten glauben, dass die Hacker nun die Bitcoins in der Nähe der nächsten Top loswerden möchten. Dazu könnten sie den Markt kurzfristig manipulieren und gleichzeitig eine Short Position eröffnen.

Whale Alert twitterte am 14. April 2021, dass zahlreiche Bitcoins die mit dem Bitfinex Hack von 2016 in Verbindung stehen, bewegt wurden. Der Gesamtwert der bewegten Bitcoins liegt laut dem Krypto-Transaktions-Tracker bei 750 Millionen US-Dollar.

„WTF! $7.5 Milliarden in Bitcoin, die Hacker bei dem Bitfinex Hack 2016 gestohlen haben, sind zum ersten Mal seit 5 Jahren bewegt worden.“

Anmerkung: Mr.Whale hat sich evtl. um eine Nachkommastelle verrechnet bzw. die Zahl falsch wiedergegeben.

Diese Transaktionen waren die ersten Transaktionen der Hacker in diesem Jahr. Insgesamt bewegten die Hacker bei über 30 Transaktionen rund 11.799 BTC.

bitcoin road
Ein Bild von BeInCrypto.com

Hacker bewegen BTC kurz nach neuem Allzeithoch

Die Hacker tätigten die Transaktionen dem Zeitpunkt, als der Bitcoin Kurs ein neues Allzeithoch erreicht hatte. Möglicherweise wollen die Hacker nun langsam ihre Bitcoin in andere Vermögenswerte oder Fiat umtauschen.

Interessanterweise ist am selben Tag Coinbase an die Börse gegangen. Coinbase erhielt wegen des Listings auf dem Nasdaq große mediale Aufmerksamkeit. Die News trugen wohl zu dem jüngsten Kursanstieg bei. Wenn viele Bitcoins auf einmal verkauft werden, dann könnte das theoretisch einen temporären Kursabstieg verursachen.

Viele Analysten glauben allerdings nicht, dass die Transaktionen einen unmittelbaren Einfluss auf den Bitcoin Kurs haben werden. Es wurden insgesamt nur 10% aller Bitcoins, die bei dem Hack gestohlen wurden, bewegt. Viele Börsen haben außerdem Mechanismen implementiert, um die Auszahlung von gestohlenen BTC zu verhindern bzw. zu erschweren. Allerdings könnten die Hacker die Bitcoin auch auf andere Art und Weise loswerden.

„Nein, die Bitfinex Hacker werden ihre gestohlenen Bitcoins nicht verkaufen (zumindest keine große Summe davon).

Aber der/die Hacker bzw. die Hackerin könnte die Bitcoins an eine oder mehrere Exchange(s) senden, den Markt manipulieren und sie auf einer anderen oder auf mehreren Exchange(s) shorten.“

Dieses Szenario wäre nicht so leicht umzusetzen, aber durchaus möglich.

Bitfinex Hacker stahlen fast 120.000 BTC

Der Bitfiniex Hack von 2016 war einer der größten Hacks der Bitcoin-Geschichte. Die Hacker stahlen insgesamt 119.756 BTC, die heute rund 7,5 Milliarden US-Dollar wert sind. Der Markt brach zu dem Zeitpunkt des Hacks um 20% ein.

„Was für ein Moment. Whalealert veröffentlicht eine Nachricht nach der anderen über Bitcoins, die Hacker bei dem Bitfinex-Hack von 2016 gestohlenen haben.“

Der Fall wurde teilweise aufgedeckt. Zwei israelische Brüder sollen für den Hack mitverantwortlich sein. Seit dem Hack wurden bis 2020 rund 1-2% der gestohlenen Bitcoin ab und zu bewegt. Im November bewegten die Hacker zuletzt Bitcoin im Wert von 97 Millionen US-Dollar. Damals erreichte der Bitcoin Kurs ebenfalls ein neues Allzeithoch.

Bitfinex entschädigte die betroffenen Nutzer mit Kryptowährungen. Allerdings erlitt das Image der Exchange einen großen Schaden. Die Krypto-Börse war auch in einige andere Kontroversen verwickelt.

Bitfinex
Bitfinex: Ein Bild von BeInCrypto.com

Übersetzt von Maximilian M.

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Rahul Nambiampurath is an India-based Digital Marketer who got attracted to Bitcoin and the blockchain in 2014. Ever since, he’s been an active member of the community. He has a Masters degree in Finance. <a href=”mailto:editorinchief@beincrypto.com”>Email me!</a>

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Source: https://de.beincrypto.com/bitfinex-hacker-versenden-btc-750-millionen-usd/

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