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5 Things You Should Know About Cryptocurrency

Have you ever considered investing in cryptocurrency? It’s important to understand what you’re investing in before you, well, invest. You wouldn’t just put your money in any kind of stock; you’d want to research the best stocks to invest in before committing, and the same goes for cryptocurrency. Doing research is important when it comes to cryptocurrency. It can be a little tricky getting into it and understanding all the ins and outs of the industry. However, many people that have invested in cryptocurrency have seen a positive outcome for themselves and their cash and enjoy the extra money it

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Person throwing black blox with the Bitcoin symbol on them

Have you ever considered investing in cryptocurrency? It’s important to understand what you’re investing in before you, well, invest. You wouldn’t just put your money in any kind of stock; you’d want to research the best stocks to invest in before committing, and the same goes for cryptocurrency.

Doing research is important when it comes to cryptocurrency. It can be a little tricky getting into it and understanding all the ins and outs of the industry. However, many people that have invested in cryptocurrency have seen a positive outcome for themselves and their cash and enjoy the extra money it can bring them.

The more you understand cryptocurrency, the more likely you’ll be able to know where to invest, when to take out, and how to manage your money overall. These are 5 things you should know before going ahead and investing in cryptocurrency:

1. Growth Rate of Crypto

4 stacks of golden coins on golden bars

Similar to stocks, crypto is always changing in value. It’s important to have a plan for how much you want to invest in cryptocurrency. A good rule of thumb is to never invest more than you’re willing to lose. That goes for any investment you make and it works for cryptocurrency, too.

There are over 3,000 cryptocurrencies available for people to invest in. That’s a lot to choose from! That’s also a lot of currency to keep track of. Do your research and choose a few you feel are a good fit for you.

Rather than putting all of your eggs in one basket, choose a few different cryptocurrencies and invest a little in each one. You’ll want to diversify your crypto portfolio in case you happen to lose in one, you aren’t losing it all; you have others you can depend on to provide you with gains.

One of the most popular cryptocurrencies is Bitcoin. You can actually watch the rise and fall of the Bitcoin price index to see when it’s a good time to invest.

2. The Best Time to Purchase Crypto

A list of different crypto currencies with green and red bars indicating their price

Unlike the stock market that’s only open during certain hours, the crypto market is open 24/7. So you can invest whenever you’d like. But there must be better times to buy compared to others, right?

Correct.

In fact, Crypterium suggests purchasing Bitcoin specifically on Sunday or Monday for the best return. The reason? Simply because that’s typically when Bitcoin has the lowest prices during the week. Similar to stocks, with crypto, you want to buy low and sell high.

3. Where Will You Keep Your Crypto?

Whenever you have something of value, you want to keep it safe. That’s why people put their valuables in safes, have a secure bank to watch their money, and locked cabinets for important documents. But what about cryptocurrency? It’s not a physical asset that you can hold, so where can you put it so it stays safe?

It’s extremely important that you have a safe space to store your crypto before purchasing any. Some hackers have found ways to steal other people’s cryptocurrency that hasn’t been securely stored. That’s why it’s wise to have something like a crypto wallet to keep your investment safe. A crypto wallet is a software you can download and use to keep your cryptocurrency safe and locked up with passcodes and other hacker-blocking software. It’s great to have for peace of mind and it keeps your cryptocurrency safe!

4. How Much Time Do You Want to Invest?

Computer setup for crypto mining

There are those that simply want to invest in crypto and watch it grow. Then, there are those that truly invest their time into cryptocurrency by mining it. We’re not talking about mining in the ground, but rather, mining through a computer software system. Many people invest time and money into great computer systems that are capable of mining for cryptocurrency.

In fact, did you know that you could potentially get a tax break if you’re a crypto miner? Those who choose the crypto mining route need large computer setups, space, and pay a higher electricity bill to have those computers running all day. If filed correctly, you could get a tax break or a deduction for the materials you use to mine crypto.

You certainly don’t have to go that route, but if you’re really interested in getting deep into crypto, mining is a cool way to get involved with it.

5. Crypto Taxes

Tax forms under a calculator and golden Bitcoins

One of the most important things to keep in mind with cryptocurrency is the taxes that come along with it. Many people often ask: do you have to pay taxes on your cryptocurrency?

The answer is both yes and no. If you invest in a cryptocurrency and end up with a loss for that year, you don’t have to pay any taxes on it. However, if you gain anything in your crypto investment, then you will have to pay taxes on it.

The next question people often ask is: how much do I have to pay in taxes on my crypto? That’s where it’s helpful to have a crypto tax service help you calculate that exact amount. Crypto taxes can get complicated, so it’s helpful to have an expert that understands the ins and outs of cryptocurrency.

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Source: https://bitcoinsinireland.com/5-things-you-should-know-about-cryptocurrency/

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Bitcoin Futures ETF is so popular that it’s breaching futures limits set by TradFi

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Deposit and Earn Up to $3000 Bonus

The first US Bitcoin (BTC) exchange-traded fund is rapidly getting close to breaching a limit on the number of futures contracts it is permitted to hold, Bloomberg reported.

Just days after launch, the ProShares Bitcoin Strategy ETF (BITO) already owns nearly 1,900 contracts for October, and Chicago Mercantile Exchange (CME) limits the number of front-month contracts to 2,000.

Record trading volume

After two days of trading, the fund already had more than $1 billion under management, read the report.

The Bitcoin Futures ETF amassed 1,400 November contracts in order to avoid breaching the limit, but judging by the unprecedented early volume, BITO could soon hit the maximum total position of 5,000 contracts.

The launch of competing products, such as Valkyrie’s and VanEck’s Bitcoin Strategy ETFs, could ease the demand for BITO.

One solution to avoid hitting the limit would entail BITO to spread out its holdings into longer-dated contracts, but that poses a risk of further distancing the fund from the performance of Bitcoin.

“The end result is the ETF will start taking on potentially significant tracking error versus the spot price of Bitcoin,” president of advisory firm The ETF Store, Nate Geraci, told Bloomberg.

“The ETF is forced to obtain Bitcoin price exposure at higher and higher prices as it goes further out on the futures curve,” he explained.

Spot-based Bitcoin ETFs to the rescue

“The unprecedented early volume in BITO makes it like a snowball rolling downhill, as liquidity and assets beget more liquidity and assets,” according to Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, who commented for the report.

“The new ones will have some selling points such as only holding the front month or being cheaper and that will help, but it is nearly impossible to steal volume in the short or medium-term,” he added, arguing that the momentum behind the ProShares fund will be hard to stop.

According to Balchunas, BITO’s success and “the clear issue of the potential capacity of futures“ may prompt the SEC to speed up the approval of Bitcoin spot ETFs.

“That certainly would do the trick in slowing down BITO and providing a release valve for futures demand,” he added for the report.

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Source: https://cryptoslate.com/bitcoin-futures-etf-is-so-popular-that-its-breaching-futures-limits-set-by-tradfi/

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Pokémon GO November Planned Events

Here’s a breakdown of the planned November 2021 events for Pokémon GO.

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Here's a breakdown of the planned November 2021 events for Pokémon GO.

Here’s a breakdown of the planned November 2021 events for Pokémon GO. / Photo courtesy of Niantic

In addition to Research Breakthrough encounters, Mega and 5-Star Raids, and Spotlight Hours, November appears to be another promising month for Pokémon GO with four planned events on the way.

Here’s a breakdown of the planned November 2021 events for Pokémon GO.

Niantic published the full list in its official news blog post detailing all the upcoming events of November 2021. More details for these events are said to be coming soon, but here’s what we know about the roadmap so far.

From ​​Friday, Nov. 5, to Sunday, Nov. 14, Niantic will be inviting trainers to celebrate light overcoming darkness with an all-new event called the Festival of Lights.

Similar to last year’s first-ever Day of the Dead special event for trainers in Latin America, Pokémon GO will be hosting a Día de Muertos special event for trainers around the world from Monday, Nov. 1, to Tuesday, Nov. 2.

Pokémon GO will also be having a Brilliant Diamond and Shining Pearl Celebration Event to commemorate the launch of the upcoming titles from Tuesday, Nov. 16, to Sunday, Nov. 21.

Lastly, the Season of Mischief will reportedly close out with an “epic” event that has yet to be revealed. From Friday, Nov. 26, to Monday, Nov. 29, trainers who completed the Misunderstood Mischief Special Research story will be able to unlock a Special Research story where they will have an opportunity to “learn more” about Hoopa.

For more on Pokémon GO, feel free to check out our coverage of the November Community Day reveal, and the October Limited Research.

Source: https://www.dbltap.com/posts/pokemon-go-november-planned-events-01fjq8c3zf4d?utm_source=RSS

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Pokémon GO November Spotlight Hours Revealed

Niantic has officially unveiled the Spotlight Hour dates and featured Pokémon for the month of November in Pokémon GO.

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Niantic has officially unveiled the Spotlight Hour dates and featured Pokémon for the month of November in Pokémon GO.

Niantic has officially unveiled the Spotlight Hour dates and featured Pokémon for the month of November in Pokémon GO. / Photo courtesy of Niantic

Niantic has officially unveiled the Spotlight Hour dates and featured Pokémon for the month of November in Pokémon GO.

Spotlight Hour has rapidly become a fan-favorite weekly event for Pokémon GO trainers. For an hour each week, Niantic picks a Pokémon to take over the wild with an increased spawning rate. Not only does this provide a chance for trainers to catch rarer Pokémon and fill out their Pokédex, but it also occurs at a local time instead of at a set time across the world — making it extremely convenient for trainers whether they reside in New York City or Tokyo.

Niantic published the full list in its official news blog post detailing all the other events of November 2021. On top of weekly raids featuring Unova Legendaries such as the Swords of Justice — Cobalion, Terrakion, and Virizion — alongside a Community Day event with Shinx, trainers can look forward to their usual weekly Spotlight Hour programming.

Spotlight Hour will take place every Tuesday in November from 6 p.m. to 7 p.m. local time. There are five Tuesdays in November, during which trainers can expect to see the following Pokémon and special bonuses:

For more on Pokémon GO, feel free to check out our coverage of the November Community Day reveal, and the October Limited Research.

Source: https://www.dbltap.com/posts/pokemon-go-november-spotlight-hours-revealed-01fjq7d3vkq5?utm_source=RSS

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