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10 Top reasons to own crypto-currencies

by , 15 July 2020
10 Top reasons to own crypto-currencies
Q. “Hi Timon, I'm still deciding whether I should add crypto-currencies in my portfolio. Can you maybe list a couple reasons why it's important?”

A. I think with the ever changing and challenging economy, more and more people are adapting to new ways to make, invest and preserve money.

Here are my 10 reasons to add crypto-currencies in a portfolio:

 
CHEAPER – It is a cheaper way to transact crypto-currencies as there are no middlemen involved.
 
DIVERSIFICATION – It’s important to diversify your portfolio to avoid sudden spikes in one basket.
 
IT’S THE FUTURE – Crypto-currencies, Blockchain, Decentralised apps and so on will soon be more accessible, useful and implemented as technology improves.
 
DECENTRALISED – There is no one authority or centralised placed to make transactions. This lowers the chances of corruption, manipulation and profit incentives.
 
INTERNATIONAL TRANSACTIONS – You’ll be able to transact crypto-currencies anywhere in the world without any restrictions.
 
LESS/NO TAX – At the moment, there is hardly any tax you’ll pay with crypto-currencies as there is isn’t much influence with the authorities and justice system yet.
 
YOU’RE IN CONTROL – You own your account and address and nobody else does. This means, making transactions is easier and faster than ever. Just don’t lose your key or it’s lost forever.
 
DIVIDENDS – Quite a number of crypto-currencies now offer dividends. The beauty is you can be paid on a daily or weekly basis just by holding them.
 
LOW BARRIERS TO ENTRY – Just about anyone can trade crypto-currencies. Doesn’t matter whether you’re a foreigner or on holiday in some country.
 
NO AGE LIMIT – Yes! There is no age limit to trading crypto-currencies.
 
For more on Crypto Currencies, read Sam Volkering’s book.
 
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Timon, your trading lessons and tips are FREAKEN GOLDEN! 
 
You should charge for this information and only have the really dedicated traders follow you!
 
~ Shosek K.
 
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Q. ”In a recent article about Ethereum, you mentioned it will be moving from “Proof of Work” to “Proof of Stake”. Can you please explain the differences between these two terms?
 
A. To understand the terms Proof of Work (PoW) and Proof of Stake (PoS), comes down to one thing…
 
The way in which a person collects rewards in the form of crypto-currencies through a computational process…   
 
Here are the main differences between PoW and PoS.
 
What Proof of Work (PoW) is:
 
This is traditionally the process on how a person mines for crypto-currencies such as Bitcoin.
 
To do this you’ll need highly specialised computers with a huge amount of computational power and expensive processing equipment.
 
The miner who solves the complex mathematical equations, is rewarded with a block (number of coins) and transaction fees in the form of crypto-currencies.
 
Once the block has been mined, it is then verified and added onto the last block of the blockchain (ledger that records all the blocks and transactions).
 
Of course, as miners have flooded the market and more blocks have been mined, the more difficult and costly it becomes to mine for a block.
 
As not everybody has the technical know-how, hardware and time to mine for crypto-currencies, Proof of Stake was created.
 
What Proof of Stake (PoS) is:
 
Proof of Stake is a new method to own rewards as a form of crypto-currencies.
 
Instead of mining, you become a validator or “node” who earns in crypto-currencies and/or transaction fees via a random and lottery process.
 
Basically, the more coins you own (stake), the more likely you’ll receive rewards and transaction fees…
 
Here’s an example on how Proof of Stake works.
 
Let’s say Jeff buys and owns 0.5% of the coins available on a blockchain.
 
Through PoS, he will be entitled to acquire up to 0.5% of new transaction fees and even more coins to be added onto the previous block.
 
All he’ll need to do is stay connected, buy more coins for a better chance and then wait for the rewards to enter into his crypto wallet or portfolio.
 
As I mentioned in a recent article, Ethereum will be moving towards a PoS with its new protocol named “Casper”. I would expect more crypto-currencies to evolve into PoS in the near future.
 
I believe without a doubt that Proof of Stake is a better option to go with for the following reasons:
 
You’ll need nothing more than a standard PC/Mac or even your smart phone.
 
There is a lower environmental impact, making it eco-friendly, with the lower energy consumption.
 
It is more secure and almost impossible to defraud, hack into or take control of a PoS network. This will require an individual to buy 51% of the available coins.
 
There is no competition as the block creator is chosen by an algorithm based on the user’s stake.
 
Trade well,
Timon Rossolimos,
Analyst, Red Hot Storm Trader 
 
P.S:
 
Become a SUPER Successful Trader if YOU Tick these Five Boxes
 
While you're at home more often than you're used to this year, due to COVID-19 - You might as well improve your chances and success as a trader...
 
And to do this, you'll need to tick these five checkboxes.
 
✔ You're happy to do simple addition & subtraction calculations.
 
✔ You have a computer or a device with a good internet connection.
 
✔ You can handle a tiny bit of risk with each trade (2% at max).
 
✔ You can set aside R1,000 to R5,000 to try out real trading for yourself.
 
✔ You're disciplined enough to learn and integrate just one four-step trading strategy in full and follow the rules at least 10 minutes per day.
 
You'd be surprised how many new traders can't commit to these five checkboxes...
 
Do you think you can achieve this?
 
Are you nodding?
 
Good, then you're ready to own and follow my proven - 62.5% win rate - low risk and easy system which has helped create my financial freedom.
 


10 Top reasons to own crypto-currencies
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