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Cryptocurrencies & The Banking Industry

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Despite the concept of Crypto-currencies being increasingly expanding and gaining popularity, the traditional banking sector is hesitant to adopt the use of digital assets, believing that its inherent risks outweigh potential benefits. The main concerns for such thinking could be depicted as the decentralized nature of transactions, AML/KYC concerns and the high volatility of crypto-currency values. However the regulatory agencies such as the Office of the Comptroller of the Currency (OCC) are working towards changing bank’s perception on digital currencies believing that such assets would positively drive finance/banking sector in to a new era of innovation and efficiency. Main reasons why banks are wary of digital currencies Decentralized Nature One of the main reasons why banks are reluctant to engage in digital currencies is its decentralized nature. Cryptocurrencies have been developed as an alternative to the traditional banking system; hence they do not require any intermedi...
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Are you aware of the scams in the crypto-currency world?

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  Despite the rapid evolution of digital currencies, a large number of crypto scams have been reported over the period. Although the scams are not a recent phenomenon, the significance and the number of scams occurred have been increased mainly due to the modern technologies. Reportedly scams relating to crypto-currencies have been surged up to 7,118 in the first 09 months of 2021 which is 30% up compared to 2020.  Especially during the period of Covid-19 pandemic, when the prices of cryptocurrencies shot up, they became more mainstream. As such scammers capitalized on their popularity. There are two types of main cryptocurrency scams which tend to target different populations.  01) Fake investments In this instance cryptocurrency investors who tend to be active traders with risky portfolios are targeted. Most of such investors are young professionals with high income levels and aged under 35 years. Scammers tend to create fake coins or exchanges in this scenario. S...
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How Crypto coins differ from tokens?

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Cryptocurencies have become one of the most discussed topics in the today’s business world. However one common mistake the investors make is calling Crypto coins a token and vice - versa. Although these crypto coins and the tokens look alike on the surface, they are two different assets. As such this article will be discussing on key differences between crypto coins and tokens.  What are Crypto coins? Bitcoin is identified to be the first ever Crypto coin which set out standards for what is meant to be a coin.   A coin has distinct features which from tokens as depicted below,   01     Crypto coins operate on its own blockchain This simply means that a blockchain keeps a track of all transactions which involves its native crypto coin. For instance when a particular transaction is done with Ether, it is done on Ethereum blockchain whereas all transactions with regards to Bitcoin are done on its own blockchain. As such every transaction is encrypted and ...
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Five key points to consider before investing in Cryptocurrency

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  01) Conduct due diligence on principals and study on white papers   It is vital to make any investment on crypto-currencies only after a proper due diligence and a study. While some people argue that crypto-currency is a gambling rather than an investment, others make genuine crypto-currency transactions considering the perceived value and the empirical utility of such digital currencies. Proper study on the related white paper is crucial before making any investment in crypto as this will avoid any misguidance from the community. All legitimate coins will have a white paper which is a detailed outline of principals, purpose and the technology of each coin and it will help you to determine whether you should or should not proceed with the particular crypto investment. 02) Create a proper strategy for crypto trading   Separating genuine crypto-currency recommendations from scams is not as easy as it seems. According to the recent statistics, scams relating to crypt...
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10 Most Popular Cryptocurrencies In 2022

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Thousands of various types of crypto—currencies, most with little value and unclear potential exist in the today’s business world. As such most of the investors tend to stick to Bitcoin and Ethereum for better outcome. Depicted below the top 10 Cryptocurrencies in the world in 2022 based on the market capitalization, or the total value of all of the coins currently in circulation.   01) Bitcoin (BTC)                                       Bitcoin remains the most widely traded and covered crypto currency in present business context. It was introduced to the world in 2008 by Satoshi Nakamoto through a white paper and made available to the public in 2009. As with most crypto-currencies, Bitcoins runs on a block chain and the related technology has made it secure and safe from frauds. Market cap -Over £ 474bn Bitcoin has become a household name as of today while its value has an upward t...
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