Since the release of the Libra whitepaper yesterday, the majority of what I have seen plastered all over Crypto Twitter and private groups I’m in is “Facebook are invading our privacy again”, “Facebook want our financial information”, “Centralised shitcoin”, etc., etc.
There’s been a lot of chatter on Crypto Twitter recently about “millionaire starter packs” with the general theme of people picking coins that they believe are going to make them into millionaires. I’ve decided to take a break from my series on CryptoTools (check out the latest one on ICO tools here) to have a bit of fun with my write up on my personal Millionaire Starter Pack.
This time we are going to look at some of the specific tools and resources in relation to ICOs (and IEOs/STOs). The main thing to remember, is that all of the principles covered in the article on fundamental analysis will still apply in respect of ICOs, but there are some additional ICO specific resources that might come in handy as well.
Firstly, when it comes to ICOs, it can be difficult to get access to the best deals available in the market. It is also very easy for newbies in the space to fall foul of scams, with fake messages from copycat accounts on Telegram pretending to be admins offering you allocations for oversubscribed projects. …
So far most of the tools we have looked at in the CryptoTools series have looked at tools for trading (in the guide to TA tools) and tools for selecting coins based on their fundamentals (in the guide to FA tools). This time we are going to look at tools for the ongoing management of your portfolio.
Although many people in crypto seem to believe that charts are everything, I’m a big believer in fundamental analysis, particularly when it comes to selecting projects that I will have it my long term holds portfolio or that I will spend time working with.
The question is, with so much information out there about projects, how do you sift through it all and find the useful, actionable information? In this article, we will take a look at the resources that I use on a daily basis to help me pick which coins I want to hold or short term trade.
Fundamental Wolf’s Research…
When you first jump into the world of crypto, it can seem a little bit like information overload. How do you filter useful information from the noise and come up with a solid trading strategy or even a good portfolio for longer term holding? In the next few articles, we will take a look at which tools and resources I have found to be most useful on my crypto journey — including tools for technical analysis, tools for fundamental analysis, tools for portfolio management, ICO related resources, trading platforms (that operate separately to exchanges), and tools for algorithmic trading.
The allure of Bitmex is obvious. Why let the whales manipulate the market when with just a few Bitcoin, you can pretend to be the whale, by trading 100x your stack. Momentarily, before you get liquidated because another pretend whale dumped the price 0.5% and you got liquidated. When you are leverage trading on Bitmex (or any other platform for that matter), a number of issues become a lot more prevalent than they are in regular trading, and its important to make sure you understand these issues and risks before you jump on the rollercoaster.
BitMEX don’t require a lot in order to setup an account; a valid email address will get you there. There is no KYC for deposits and withdrawals, though anyone using a US IP address will be blocked unless they use a VPN (which can be very sketchy as your account will get banned as soon as you try to access it from a US IP address). …
I am not a security expert, but I do try my best to protect the investment that I have made in cryptocurrency. At the end of the day, cryptocurrency has its roots in cryptography; anyone storing their private keys in a file in the cloud which is not password protected quite frankly deserves to be hacked (sorry Ian Balina but that was extremely poor OPSec).
Having covered off how to buy Bitcoin in my previous article, we can now take a look at where you can trade that Bitcoin for other cryptocurrencies. This is not an endorsement of buying any particular cryptocurrency over another and the key thing to remember in crypto (and investing in general) is to always DYOR. However, here we look at some of the exchanges I regularly use for trading and what I like/dislike about them.
This is different from where I would choose to purchase cryptocurrency (such as Bitcoin) with FIAT, we covered that in my previous article where Coinbase came out on top. Whilst some people will swear by Coinbase Pro for trading options, and the exchange does have great security and offers some of the major pairings, now growing regularly, I’m more of a shitcoin connoisseur and like to go slightly further afield in my gem hunting; sometimes ending up in murky places like the now-defunct Cryptopia. Therefore Coinbase just doesn’t quite cut the biscuit when it comes to my day to day trading, but on the positive side, it does offer free withdrawals of your crypto to any of the other platforms listed here. …
For people getting into cryptocurrency for the first time, one of the first questions most people have is “how exactly do I buy a Bitcoin?” (or any other altcoin for that matter). In this article, I will explain how I have bought Bitcoin and other coins time and again with FIAT, as well as suggesting a couple of alternative options.
This question is inherently different though from where do you trade Bitcoin and other altcoins; some of the exchanges I use on a day to day basis do not have a FIAT on/off ramp, so there is no way to buy Bitcoin and other altcoins with cold hard cash there. …