TRADING • ANALYSIS • STRATEGIES • REVIEWS
ARE SMALLCAPS STILL WORTH THE HASSLE? • WILL IEOS REPLACE ICOS? • IS ACTIVE OR PASSIVE TRADING BETTER?
MAY 2019 ISSUE 19 US$10 OR $67.50 FOR 12 MONTHS
THE CRYPTO INVESTOR'S ESSENTIAL RESOURCE
THE RISE OF
BINANCE + WARREN BUFFETT'S INVESTING STYLE ANALYSED + ANALYSIS: BITTUBE, BAT, MULTIVAC AND MORE IN MAY'S TOP 21 COINS TO WATCH
MAY 2019 ISSUE 19
IN THIS ISSUE! INVESTING
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Everything you need to know to get to grips with the complex world of investment.
SMALL CAP INVESTING In Investment Strategies
ACTIVE VS PASSIVE TRADING In Trading Techniques
IEOS REPLACE ICOS In Investing In Offerings
EARNED VS PASSIVE INCOME In Build Your Wealth
(From top right to bottom left) EOS could be announcing groundbreaking news at event in Washington DC (P.29), Hyundai launching blockchain powered cars (P. 13), we review the CoolWallet S (P.44), we analyse Warren Buffett's investment strategy (P.24)
NEWSROOM
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#THE21
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The latest and most important investment news and market analysis.
We analyse 21 projects to give you the very best insight for the month ahead.
BINANCE COIN, STELLAR & OTHER GAINERS & LOSERS
5 COINS TO HOLD ZIL, SOUL...
In Market Analysis
BITHUMB, BLOT LABS + In Company Funding
VOLKSWAGEN WITH IBM & OTHERS In Partnerships
HYUNDAI'S BLOCKCHAIN CAR & OTHERS In Just Launched
In Philosophies of Success
WARREN BUFFETT'S INVESTING STRATEGY In When Billionaires Meet BTC
REVIEW ATOMIC WALLET
WHAT TO STAKE ZIOST
In Wallet of the Month
5 COINS TO TRADE AXPR, PLAT...
GETFIFO
WHAT TO MINE BITTUBE STO OF THE MONTH ELOC SLEEPING GIANT TFD
In Exchange of the Month
DHARMA In Service of the Month
BITCOINFLIP
NEW TO MARKET MTV
In App of the Month
METEORIC RISE BAT
COOLWALLET S
ICO WATCH LIST DAYTA, GEMS...
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GOALS FOR CHANGING CIRCUMSTANCES
In Hardware of the Month
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THIS MONTH'S FEATURES
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PROOF-OFWORK
PART 4 OF SIMPLIFYING SATOSHI Another installment of the Bitcoin analysis whitepaper, taking a deep dive into where the whole industry came from.
THIS MONTH'S FEATURES
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THE RISE OF $BNB
CAN ANYONE STOP BINANCE?
Binance has gone from strength to strength since its inception, and 2019 is no exception. Lets take a look at how the exchange is bossing it in every way.
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GENERAL We retain full copyright and ownership of this magazine and all the content within. We retain full rights to public distribution. Any unauthorised public distribution will be (and is) followed up with the relevant companies and authorities and legal entities. CONTENT This magazine is a collection of resources and opinions, it is not direct financial advice. We’re not responsible for the accuracy or validity of the information the pros choose to provide to us. The opinions of our content providers are not necessarily our opinions. We aim to provide unbiased information with no ulterior motives as a service to the crypto community. Our primary source of income comes from magazine sales, we do not want to influence the market in any way to our own or others’ benefit. YOU Please do you own research in addition to reading the content provided within. We’re not saying this to cover our backs, we’re saying it because we want to create better traders who don’t lose their money. •• Never EVER trade more than you can afford to lose. •• ALWAYS trade safely after extensive research. •• Do NOT follow pump and dump schemes, they damage our community in a massive way. •• REMEMBER that Crypto trading has elements of a gambling nature - so ensure you avoid addiction, or any behaviours that damage your lifestyle. Life and people and experiences are far more important than money. Always remember that. WE STAND AGAINST DECEPTIVE CONTENT 21Cryptos Magazine Ltd and our writers are aware of our responsibility to provide unbiased information. We are absolutely against pump and dump schemes and deceptive paid shilling. All content provided by our pros, and our own native editorials, are all our own free thoughts and opinions, and are not the result of any paid deal with any company, group, or individual. Any external sponsored editorials we may have in the future will clearly state their nature. Should any of the team act against this, we will cease any cooperation we have with that individual and they will no longer provide content for the magazine.
EDITOR'S NOTE
BITCOIN’S UP, BUT IS ALTSEASON UPON US? by V, Editor-in-Chief
B
itcoin’s at $8000. Yep, you heard me right. Just a month ago this would have seemed impossible, but the market turnaround is well and truly confirmed. Investors and traders everywhere are cheering on the crypto that won’t quit, and many are considering that the acclaimed Altseason is about to be upon us. With over 2000 coins actively trading in the crypto industry, when the time comes for bitcoin to correct itself, we may very well see a lot of the recent money that’s been made go straight into those coins as a way of avoiding the bitcoin dip, and taking a chance of some of the other promising projects around. The last Altseason was in 2017, where we saw 1000% increases (or more), and even the projects with the worst foundations and premises would soar in price at the mention of a bit of positive news. There was more money flowing into the ecosystem than people knew what to do with. In fact on a rumour of a Coinbase listing, Bitcoin Cash immediately went up from a few hundred dollars to $2000 in the blink of an eye. Trading on many coins would regularly crash as the systems
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responsible for trading on exchanges just couldn’t handle the volume. It was a gold rush. 20% gains in a few minutes were commonplace, and FOMO was absolutely everywhere. Now, we could be approaching the next Altseason, and traders everywhere are beginning to strategise and research potential gems. And with crypto now firmly in the public’s psyche, when the next Alt boom happens, who knows how much money will enter the industry? Perhap enough to make 2017 look like a warm up stretch. Here’s hoping.
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NEWS ROOM APRMAY
THE NEWS YOU NEED TO KNOW TO MAKE YOUR INVESTMENTS COUNT APRIL 07- MAY 15, 2019
MARKET ANALYSIS COMPANY FUNDING
PARTNERSHIPS JUST LAUNCHED
(Clockwise from left) Just Launched: Hyundai is launching blockchain powered cars. Market Analysis: Binance coin is one of the biggest winners this month rising 34%. Partnerships: British Virgin Islands Premier Andrew Fahie leads partnership with Lifelabs. Exchange Events: Zaif Exchange is reopening on April 23.
EXCHANGE EVENTS
MARKET ANALYSIS
CRYPTO MARKET
XRP
This has been one heck of a month for the cryptocurrency market. In the last 30 days, the overall crypto market cap has risen 30% from $175 billion to a whopping $225 billion. Most of this increase, however, is due to Bitcoin’s massive rise. Monthly volume is over $5 trillion for the entire crypto market.
XRP has only just joined the party this month. While many of the other leading alts have seen large gains, XRP had lost 1.5% until yesterday, but it’s now seen a 16% increase overnight. Could this be signalling Altseason?
BITCOIN CASH BITCOIN This has been Bitcoin’s month to shine. At the time of writing the leading crypto is circling $8000, with a 53% increase over the last 30 days. Dominance has increased from 50% to 60% of the total crypto market cap, leaving most altcoins to flounder in its wake, and has a daily volume of over $24 billion.
ETHEREUM Ethereum has risen 23% this month now sits firmly above $200, having seen a much lower increase than Bitcoin, but still a much larger increase than most altcoins. It’s daily trading volume is now $10 billion.
Bitcoin Cash has faired extremely well– some would say surprisingly well this month. The no.4 ranked cryptocurrency has seen a huge gain of 33%, and now sits strong at $371 per coin.
TOP GAINERS Binance Coin (BNB) is one of the winners this month, standing at position 7 thanks to a gain of 29%. Tezos (XTZ) has also seen a similarly large gain of 42%, having risen to position 16 on the marketcap rankings. In the top 100, CLAM has seen an incredible 129% growth, and MONA with 84%.
LITECOIN Litecoin has had an average month, with a gain of 11% over the last 30 days, with a current price of $89 per coin. However it’s still in the top 5 by marketcap at a value of $5.54 billion, while its nearest rival EOS sits at position 6 with a $5.17 billion market cap.
TOP LOSERS In the top 10 rankings, Cardano (ADA) has performed the worst over the last 30 days, with a current loss of 5%, followed closely by Stellar (XLM) with a loss of 4%. From the top 100, MaxiMine Coin (MXM) has seen the largest dip of 51%. Overall, most Alts are looking downtrodden while Bitcoin takes the spotlight. The Altseason, however, can’t be far away.
(Top) Binance has risen 29% in the past month. (Bottom) Stellar has lost 4% in the past month.
NEWSROOM
COMPANY FUNDING
CELO GETS $25 MILLION INVESTMENT FROM A16Z AND POLYCHAIN CAPITAL A16z and Polychain Capital bought $15 million and $10 million worth of CeLo Gold tokens, respectively, as an investment in the cryptocurrency-backed payment company, CeLo. The news comes after the Securities and Exchange Commission’s revised laws towards regulations against cryptocurrency investments. CeLo is a first of its kind mobile-based money transferring platform. It was designed with the sole purpose of making cash transfer easy and accessible to everyone. CeLo makes use of an identity system based on a users’ personal phone number with added address based encryption.
BLOCKCHAIN MORTGAGE STARTUP ACRE RAISES $6.5 MILLION Acre Software, a blockchain-based startup working in the mortgage and insurance market, is all set to revamp its insurance and mortgage applications for advisers after successfully raising €5 million ($6.5 million) from the advisory firm Sesame Bankhall Group, and Aviva, a British insurance company. Seventy-five percent of the total mortgages in Britain are distributed and promoted through advisers, even though there has
APR-MAY 2019
(cont. Acre) been a rapid rise in the number of lenders and new challengers in the field. Acre Software plans to improve customer experience by taking a leaf out of the market disruptors’ books and facilitating end-user experience delivered to their users at a much faster speed. By doing so, their ultimate goal is to help advisers hold their position in the mortgage market.
ZCASH AND RIPPLE’S XPRING INVEST IN BOLT LABS The popular cryptocurrency ZCash, along with Ripple’s Xpring, are jointly investing in the blockchain privacy startup Bolt Labs. Built on top of the ZCash blockchain, Bolt is an off-chain cryptocurrency that has a core purpose of tackling the scalability dilemma that plagues many current cryptocurrency projects. Some investors backing the Bolt project are Ripple’s fundraising branch Xpring, the founder of ZCash, Zooko Wilcox, and the company behind ZCash, Electric Coin Company. The main function of the Bolt blockchain will be to provide scalability to privacy-centric coins such as ZCash, and will potentially function in the same way that the lightning network does for bitcoin.
BITHUMB GETS $200 MILLION INVESTMENT FROM ST BLOCKCHAIN FUND In some exciting and much needed good news for Bithumb– the South Korean cryptocurrency exchange giant’s holding company has received a massive $200 million USD equivalent investment from the Japan’s ST Blockchain Fund. The Bithumb exchange’s holding company is called Blockchain Exchange Alliance (BXA), and this new investment will mean that it can expand Bithumb into international territory, while also improving the core services offered– such as an increased number of trading pairs available for investors. This is fantastic news for Bithumb, which had posted a loss of $180 Million USD from its 2018 financial report.
Bithumb exchange interface with its logo behind.
PARTNERSHIPS
VOLKSWAGEN FORMS PARTNERSHIP WITH IBM The Volkswagen Group has announced that they will form a partnership with IBM Blockchain Group to track their mineral supply chains through blockchain technology. The company added that they want to “responsibly source” minerals like cobalt which is used in lithium-ion batteries for electric vehicles. For this, Volkswagen have also formed a partnership with Ford and many other industry giants by entering an IBM blockchain powered collaboration. According to Volkswagen, consumers and miner brands had to depend upon third-party audits and manual processes for sourcing their minerals. This will now be much simpler, as Blockchain technology provides a permanent record for tracing minerals to support the compliance process. It will also become easier for Volkswagen to meet the sourcing standards set up by the Organization for Economic Cooperation and Development (OCED). Manish Chawla, IBM’s general manager for global industrial products, said that the main objective of the project is to ensure that the participants can verify the materials of their supply chains on each stop and check whether they are in accordance with the requirements set up by the OCED.
BRITISH VIRGIN ISLANDS FORMS PARTNERSHIP WITH LIFELABS FOR RAPID DISASTER RELIEF The Premier and Finance Minister of the British Virgin Islands, Andrew A. Fahie, has announced that the Islands will be forming an official partnership with the blockchain company LIFELabs, for the sole purpose of creating a system to provide ‘Rapid Cash Response’ in the event of a future natural disaster or state of emergency. The partnership will also facilitate digital financial transactions to help create an ecosystem of fast payments throughout the whole network of islands. The Premier, who is said to be a thought leader and fan of blockchain and cryptocurrency technology, stated: “It is of utmost importance that our citizens receive immediate and proportional response in the midst of emergencies. LIFElabs’ innovative financial technology comes at a pivotal time for our people and our economy, while the memory of recent natural disasters remains fresh in our minds and hearts, and the pressure for increased economic efficiency keeps mounting.’
CORPORATE TRAVELLER PARTNERS WITH BITPAY One of the biggest travel companies today, Corporate Traveller, a division of UK-based Flight Centre Travel Group, has started accepting cryptocurrency payments made through BitPay, one of the leading blockchain payment services. Corporate Traveller’s successful partnership with BitPay will help the company in accepting cryptocurrencies like Bitcoin and Bitcoin Cash from small and medium-sized enterprise customers, in exchange for their services. In the announcement, the company said that bitcoin is currently not the mainstream method of payment in the travel industry; however, there is an increasing demand for it.
British Virgin Islands Premier and Finance Minister Andrew Fahie. (Image: The Virgin Islands Consortium)
NEWSROOM
JUST LAUNCHED
BINANCE CHAIN LAUNCHES MAINNET & ACTIVATES BNB SWAP Binance, a global name in the cryptocurrency industry, has announced the launch of Binance Chain Mainnet– with plans of a swap execution of its own token Binance Coin (BNB). The swap execution took place on 23 April. The company first announced its plans of launching its blockchain in December 2018, and now the firm plans to build a framework for newly launched cryptocurrencies and tokens. The company is currently in the production of blocks in compliance with the genesis block, and Binance Chain Explorer and Web Wallet are currently available only in beta mode to select partners and enterprises. The company also mentions details regarding the conversion of ERC-20 BNB tokens into Binance Chain-based BNB (BEP2) coins. Binance made it very clear that it will not approve of ERC-20 BNB token withdrawals after 23 April, and no trading pairs would be up for listing until the conversion of BNB’s first batch.
COINMARKETCAP RELEASES NEW APP VERSION (cont. Hyundai) successfully. The latest installment in its adoption has been of the Hyundai Motor Group– South Korea’s biggest car manufacturer, who are gearing up to implement blockchain technology in its electric car series. The company’s blockchain backed tool would work to pair up smartphones with electric vehicles, and would give users the accessibility to customize vehicle functions through their smartphone application. Claimed to be a one of its kind innovation, this technology would allow drivers to manually adjust features of their electric car like motor torque output, acceleration and deceleration control, maneuver the speed limit, vehicle response, braking capacity and optimum climate based energy control.
HYUNDAI IS MAKING BLOCKCHAIN POWERED CARS Blockchain technology has proved itself to be a transformative force with the potential to disrupt all aspects of human endeavour, and many businesses are exploring use cases of this technology
APR-MAY 2019
(Top) Coinmarketcap site interface with its logo behind. (Bottom) A Hyundai dealership shop front in the US.
The leading cryptocurrency data tracking company Coinmarketcap has announced the launch of the new version of their mobile iOS app. The app will allow cryptocurrency investors and traders to track over 16,000 crypto markets. The features included in the app will be a full spectrum of data tools to help users navigate the cryptocurrency markets with ease. The app will also allow users to track their portfolios in over 90 fiat currencies, for example USD, EUR, JPY, KRW, CNY, general crypto bases such as BTC, ETH, XRP, LTC and even metals such as Gold and Palladium. Users can use the new app by creating an account, and will allow them a full list of benefits including the ability to track news from popular cryptocurrency media platforms, adding to their full-spectrum abilities in meeting the average cryptocurrency traders’ needs.
EXCHANGE EVENTS
ROBINHOOD EXCHANGE FILES TO LAUNCH CRYPTO FRIENDLY BANK The cryptocurrency, stock marketing, and trading platform Robinhood Market Inc. is trying to enter the banking industry, a few months after the withdrawal of their controversial deposit protection services, reported S&P Global Market Intelligence. Robinhood has applied for a bank charter and is securing approval from the Office of the Comptroller of the Currency, which will be their first step in entering the banking industry. With the approval, the platform will be able to offer all kinds of banking products and services. Robinhood already has a mobile app to run crypto trading services online. Now, with this charter, it aims to provide both crypto and traditional banking services keeping in mind the convenience of its customers. Around five million people are estimated to be currently using the platform to trade in cryptocurrencies.
ZAIF CRYPTO EXCHANGE WILL REOPEN 7 MONTHS AFTER HACK After a devastating hack in September last year, the Zaif cryptocurrency exchange has announced that it will reopen on April 23rd, after the business has been transferred from Tech Bureau to Fisco Digital Asset Group. Last year
Zaif site with its logo
(cont. Zaif ) the Zaif exchange, hailing from Japan, was the victim of a devastating hack where the attackers managed to steal an incredible $60 million USD equivalent, after gaining unauthorised access to the exchange’s hot wallets. The cryptocurrencies stolen were primarily Bitcoin, Bitcoin Cash, and MonaCoin, and while cryptocurrency exchanges are known for their hoarding of very large amounts of money, at that current time Zaif ’s reserve fund only had $20 million, leaving the exchange needing $40 million to cover the losses.
POLONIEX WILL SUPPORT USDT ON TRON BLOCKCHAIN The large cryptocurrency exchange Poloniex has announced that they will be adding support for the Tether (USDT) stablecoin. Their announcement reads “Poloniex will support deposits and withdrawals of USDT on the Tron network and credit the airdrop to eligible customers holding Tether. There is no action Poloniex users need to take at this time.” Poloniex has stated that they will support USDT on both the Omni protocol, and the Tron blockchain, meaning customers will be able to withdraw their funds to either network without affecting the main Poloniex markets. In order to support both of these networks, the post states that Poloniex will be converting “a percentage” of their USDT that is currently residing on the Omni network to USDT on the Tron network. Once this airdrop of USDT starts, Poloniex users will be credited based on the amount of USDT they currently hold on the the exchange. The airdrop is scheduled to start on April 30th, and the exchange says that they will provide more information next week.
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INVESTING MASTER THE MARKETS: YOUR MONTHLY BANK OF MONEY-MAKING KNOWLEDGE
INVESTMENT STRATEGIES TRADING TECHNIQUES INVESTING IN OFFERINGS BUILD YOUR WEALTH PHILOSOPHIES OF SUCCESS (From the top) “With the business side of his valuations, Buffett first of all makes sure that he only invests in companies he can understand.” (P.24), “It’s not enough to love what you do if you want to make money, you have to master your craft.” (P.21), and “However the pitfalls of active trading are that it’s extremely time intensive, energy sapping, and can have an addictive element to it.” (P.19).
WHEN BILLIONAIRES MEET BITCOIN
WRITTEN BY V
INVESTMENT STRATEGIES
SMALL CAP INVESTING IS IT STILL WORTH THE HASSLE? EVERYONE
loves smallcaps, right? There’s an innate feeling of potential when we scoot over to coinmarketcap and scan those sub-$1million marketcap coins. Some of us may look over the list of $100million caps and recognise that they’ve got some decent potential in them - but at best, it’s maybe a 10x if you choose that one coin destined for greatness. Smallcaps, however, get the blood pumping for those special few who class themselves as Gem Hunters– the people that spend their hours tirelessly searching for that one coin which has a 1000x potential. There have been a wealth of such coins which have given the lucky (or very skilled) investor a 1000x return on their investment. Ethereum was the coin to watch back in 2017 - rising from just a few cents to around $1000 quicker than you can say ‘take my money!’. Bitcoin is of course the leader in this area. $0.008 in 2010 to a peak of $20,000 at the end of 2017. That’s a 2.5 MILLION times increase in value. It’s likely that we’ll never see another rise like this again. But will we see a coin with a 1000x, or even a 10,000x? It’s likely, if not almost certain. The risk with smallcaps is assessing whether your
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potential gains will offset your trading style. The vast majority won’t see much action and will fade into oblivion, however there are some out there that are destined for that elusive 1000x. You can either invest index-style, and grab a hundred bags of random coins and see what happens next year. However if you split your portfolio into 100 parts, the potential gains are offset by the low level you’ll be investing at. Then you can play it the other way– spending hundreds of hours researching every smallcap in sight, and choosing the best few to put a larger investment into. This way is labour intensive, but will ultimately net the most profit if done right. However, there’s always a chance that you’ll get it wrong and end up with no notable gains at all as you’ll be investing in such few companies. And the chances are weaker overall that any smallcap will see a return when compared to larger caps– as the likelihood of other investors missing a trick with a promising company and having it massively undervalued is slim. Ultimately, the time for smallcaps was best in 2017, when the world was still new to cryptocurrency. Undoubtedly there will be some major gains in the future bull runs, but with a newly savvy investing community, you’ll have stiff competition when attempting to pick that one diamond in the rough. Research away, for sure, but be aware– smallcap investing is a lot more challenging than it was a couple of years ago. But then again, who’s to say the influx of new investors in the next bull run won’t be just as high in comparison to the 2017 gold rush, and the market for smallcaps could even exceed that crypto honeymoon phase? Only time will tell, but that’s a scenario a lot of people will be hoping and praying for.
TRADING TECHNIQUES
ACTIVE VS PASSIVE TRADING WHICH IS BETTER? having risky open positions, or they can operate on a shorter scale of a few days at a time.
ACTIVE
and passive traders are the two sides of the same proverbial coin. Active traders are the ones that spend hours reading over the latest info on any potential investment, they’re the ones who look for the little details others have missed, and they’re the ones who generally want to make money in as little time as possible. They research fast, and they trade faster. Passive traders are at the other end of the spectrum, they don’t have the same time and energy commitments to trading, and instead operate on a much longer timescale. At the extreme end of this, passive traders will sometimes even give their money to brokerages and investment funds so that someone else can deal with the nitty-gritty of making their money work for them. With active trading, the benefits are that a trader can respond to their environment lightning fast, they can spy a news story or company update and react in the quickest time possible to take advantage of the news to either enter or exit a trade, depending on whether that news is good or bad. Active traders can focus solely on a single trading day, so that when they go to sleep they can exit all trades and slumber without the stress of
However the pitfalls of active trading are that it’s extremely time intensive, energy sapping, and can have an addictive element to it. If you’ve ever stayed up to see the early hours of the morning while watching candlesticks on the 1 minute chart, you’re probably well aware of this addictive nature. Passive traders are committed in a different way– they’re willing to play the long game and see out any minor dips or surges in price, and absolutely committed to their investments in a way that active traders are not. However because they don’t actively watch their investments in the same way, there’s a different type of risk– the risk that they’ll miss important opportunities for growth, and that they’ll miss warning signs of when to exit a position. Which route a trader takes solely depends on their natural inclinations– whether they enjoy the speed and excitement and raw energy of active trading, or whether they want to see their investments grow over time while sipping cocktails on a beach somewhere (or just having more time for the day to day practicalities of life, family, and other work). Each style has its advantages and disadvantages, and the deciding factor on whether a strategy works is based solely on how well that strategy fits the trader or investor who uses it.
I N V E ST I N G
19
INVESTING IN OFFERINGS
WILL IEOS REPLACE ICOS?
startups wishing to tokenize their business lose some freedom when going with an exchange offering system, but from the side of the buyer– the general public– the exchanges take a lot of the responsibility when vetting these tokens, which means there’s a much more secure environment for investors. Things, however, aren’t easy for the startups going for exchange offerings, and they have many hurdles to face when going this route. In exchange for the exchange’s help (no pun intended), the startup will have to either fork over a large amount of either company equity, marketcap of their tokens, or hundreds of thousands or even millions of dollars to cover the cost of marketing and set-up. Binance is one of the world’s leading cryptocurrency exchanges, and has so far launched four projects on its IEO platform, the Launchpad– with projections of launching at least one per month going forwards. Binance is also one of many crypto exchanges going forwards with the IEO strategy– other leaders such as KuCoin, Bittrex, and OKEx are also joining the party and offering startups a means to launch their tokens.
INITIAL
Exchange Offerings (IEOs) are said to be the new Initial Coin Offerings (ICOs), and have taken the world by storm so far in 2019. Cryptocurrency exchanges are rapidly deploying systems whereby they help launch and market new tokens, and the idea has went from strength to strength since its recent inception. Some within the industry have made the interesting point that exchanges may be looking to compete with the current leading platform in launching new tokens– Ethereum. This may well be true, and will controversially act to centralize the whole process. This is a double edged sword– on the one hand,
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The main question on people’s lips is whether IEOs will eventually replace ICOs. While IEOs are relatively new to the game, they’ve had a fantastic start so far, and are making great headway into taking the market share of token offerings away from the standard model that ICOs have been following. However, there are still some major issues with exchange offerings. The main one is the cost– a lot of companies won’t be able or willing to afford to go with this option at this current time. The second major issue is vetting– there are potentially thousands of tokens out there that won’t be worth a dime in the future, or are even based on a faulty premise, which will mean they’re not eligible for an exchange offering in the first place. As time moves on, exchanges may create more standardised systems with varying levels of engagement and services offered, which will mean that any token can launch with an exchange offering. If the ability to scale IEOs becomes available in the future, then it will be a positive thing– as not only will the vast majority of tokens be eligible, no matter what their budget, but ineffective or money-grabbing startups will be weeded out though the heavy vetting process.
BUILD YOUR WEALTH
EARNED VS PASSIVE INCOME MOST
people want to be wealthy, but there are as many ways of Achieving this as there are people who want it. Getting to the income levels you can be happy with is often a difficult path. Some are born into wealth, but the majority of us have to work for it ourselves. If wealth is created from nothing, then that achievement will ensure that the owner of the wealth will likely understand its true value, and use it to the most effect in theirs and others lives. There are two central ways of obtaining wealth in the world– you can earn it through work, or you can acquire it through passive streams. The most wealthy of us use both methods. But which is right for you? Earned income is how the majority of people on earth get their money. This ranges from the mundane 9-5 grind in a job you don’t like, to those who have found their calling, and who get rewarded handsomely for it. If you’re going to work for your money, then there are three core tenets of making it work. First, you need to do something you enjoy. Not because it’s good for the soul (although this should be the number one reason to do anything in life), but because you’ll be so much more engaged and productive in a job you love– and ultimately you’ll get much more money from this.
Second, you need to be good at what you do. You need the skills to perform well, or even outperform others in your industry. It’s not enough to love what you do if you want to make money, you have to master your craft. Finally, you have to choose a role or industry that pays well. You can become the best in your field in a small niche market, but without a large or uncapped potential income and the ability to scale up to that income, you’ll be stuck at a level you don’t wish to be. To earn a lot of money from work, you need to be highly skilled, in a job that has the potential to pay well– and most importantly– you’ve got to love it. Passive income is a much more interesting beast. Developing ways of earning money while you sleep is the holy grail that all entrepreneurs dream of. To be able to step back from active engagement and still earn money isn’t easy, in fact it’s a lot harder than most ways of earning a decent living from normal work– but it’s ultimately much more satisfying and lucrative.
I N V E ST I N G
21
BUILD YOUR WEALTH
EARNED VS PASSIVE INCOME
The long game is what matters with passive income. You need a solid and logical plan, and you need the patience to see that plan through to fruition. It’s a heck of a lot more work in the short term, but long term, if you succeed, you’ll be set up for life. Passive income streams usually come down to starting your own business, whether as a sole trader or a registered company. This option isn’t for the faint hearted, as the risks are much higher than with normal work, but the payoff can be much, much greater. In the context of trading and investing– passive income can be achieved by receiving dividends of the stocks and shares you own, and by accumulating a large amount of money that you can invest with a broker or in a fund which can then make your money work for you. Again, this takes time to do– and if you get to the point where you have enough money to enter a fund, you’ll need to be patient while this
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amount accumulates even more, so that you can reach portfolio of a total amount whereby you can start to skim profits as an income source. With cryptocurrency, however, this is easier than traditional stocks. On a good year, the crypto markets can see many multiples of the original investment– which means that the starting amount you’d need to invest to get a decent income would be much lower. Whichever method you prefer, if wealth is truly your goal– then a mix of both of these strategies will be most effective.
PHILOSOPHIES OF SUCCESS
ADAPT YOUR GOALS TO YOUR CHANGING CIRCUMSTANCES HAVING
a success mindset is essential to earning a living investing, and business in general. It’s not just a numbers game, there’s a host of psychological factors that play a vital part in building your wealth– and one of the key ones is adapting your goals to the varying circumstances of your environment. And if you’re at the beginning of your journey towards building wealth, then trust me– there’s going to be a lot of changes to your plan along the way. While adapting is one of the number one keys to success– you can’t adapt unless you have a strong plan in place first. You have to identify your goal as precisely and specifically as possible. It could be earning a certain amount by a certain time through investing, or it could be growing your business to a certain level of income during a similar time period. But one thing is certain– if you don’t have a rock solid plan and a specific goal, then it’s unlikely you’ll ever reach it. Adapting to your environment is much easier if you have a host of acceptable outcomes. Having goals A B and C are the starting points here. You may want to aim high and earn a million dollars in a year– and if you’re one of the lucky (and talented) few, then that may be a reality. But relying only on that goal will set you up for failure, as when things go wrong with your plan– and they’re sure to– then the chances are you’ll have a frantic struggle to come up with a lesser solution to achieve your goals. If you have a business,
then aiming that high could have ramifications that can threaten your entire company, as you may have a surge of initial success and build infrastructure that you find you’re then unable to sustain.
Having plans A B and C is essential. A is your ultimate goal which you’ll strive towards, B is your secondary goal - the most realistic outcome, not tainted by your desires or feelings, but based purely on logic - and C is your minimum acceptable level at which you can say you’re succeeded. In trading, this is a level at which you’re happy with - one that can sustain further growth of your portfolio, and with business this is your minimum viable income to continue operating. Once you have your plans and set out to achieve them– another key element to consider is how much you’re wrapped up in those plans to the detriment of spying other opportunities. If you stick to your plans no matter what happens - then the chances are you’ll encounter some form of challenge that your rigid set up will be unable to account for. With trading, this could be an unexpected loss which you then chase with further losing trades to try and make up for the failure - and with business this could be a refusal to offer different services if you find that your core offering isn’t performing how you’d like it to. If you identify something that could benefit you better than your current plan, should you commit to it straight away? This i the tricky question, and will depend entirely on your specific set up and goals. At the end of the day it comes down to risk/reward. With every change in how you operate your income generating streams, there’s the risk of failure. However, there’s also a large risk of failure if you identify something which isn’t working, and you stick to it without question. The take home message here is to constantly review what you’re doing with a realistic mentality– one where you can accurately assess your weaknesses and strengths, what’s performing well and what’s underperforming– and then adapting as fast as you can to the changing environment.
I N V E ST I N G
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WHEN BILLIONAIRES MEET BITCOIN
WARREN BUFFETT’S LONG TERM VALUE INVESTING STRATEGY
WARREN
Buffett is known to be the world’s greatest investor. Whatever his views are on bitcoin and cryptocurrencies in general, no one can deny that when it comes to making money, he knows what he’s doing. Buffett has used a very specific and consistent method when accumulating his wealth– that of Value Investing.
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While many traders and investors prefer to find undervalued projects and companies to invest in, Buffett instead likes to find companies that are already performing well, but that have a large potential for growth. Buffet looks at the business itself, how management performs, the company’s finances, and lastly the value of the company in terms of current standings, and potential.
WHEN BILLIONAIRES MEET BITCOIN
WARREN BUFFETT’S INVESTING STRATEGY
With the business side of his valuations, Buffett first of all makes sure that he only invests in companies he can understand. The rationale here being that in order to predict future growth accurately, one must have a deep understanding of the specific industry and operating style of the company involved. Without this, everything is a shot in the dark. Buffett analyses the business as opposed to the market or sentiment, he then looks for a consistent operating history, and finally he make a decision regarding the future projections of that business. The next, and somewhat overlooked aspect that Buffett looks into is the management of the company– he assesses whether the management is rational, based on how much of the company profit goes back into growth, or into the shareholders’ pockets. Secondly, he looks at whether the management is honest with their shareholders when they make mistakes, or whether they try and cover up a bad situation to save face. Finally, Buffett looks at the overall management strategy - does the company simply copy other competitor strategies, or do they pave the way forward with their own analysis of their market and growth prospects? In terms of finances, Buffett looks at the potential amount that can be generated for owners and shareholders– which is what incentivises investors to contribute to the company’s success. He then also has a ‘one dollar premise’ which is based around what the value of a single dollar of retained earnings is worth in terms of market value. Overall– in terms of the company’s finances, he wants to make a profit, and that comes as the priority when analysing this section of the business. Finally, Buffett looks at the value of a company as a whole– looking at long-term profitability over short term fluctuations in market price. He’s coined something called the ‘moat’, which is an aspect of a company which gives it protection from other companies wishing to take a share of the market. If a company fits all of the above credentials, then it is ripe for investing. So how can we, the cryptocurrency investors benefit from this approach? With ease. The sheer volume of companies starting up in this industry means that
there are almost too many to be accurately analysed by other investors– and a such, we have a wealth of information available in an environment where Wall Street hasn’t yet taken a strong foothold. There’s room to find the gems that fit the above criteria, and that others have yet to stumble upon, if we look hard enough.
I N V E ST I N G
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Red Quokka Crypto
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1 R E B M NU
PHANTASMA (SOUL)
ZILLIQA (ZIL) Zilliqa, the project famous for its sharding solution to the blockchain scalability challenge, is already on many industry observers’ list of long term holds. Having entered the market in January 2018– right at the start of the bear market, ZIL has not only survived but thrived. Zilliqa launched its long-waited mainnet in January, and top crypto exchange Binance announced it would support ZIL’s token swap in April. Once complete, the token swap means Zilliqa can make real progress on its roadmap. There is an additional fundamental reason ZIL may be a good hold this month. The Zilliqa core team announced in a forum post that “we will enable smart contracts on the mainnet via a network upgrade following the token swap, and share updates on the official date during the latter half of May 2019”. The implementation of smart contracts on the first sharding-equipped blockchain mainnet is sure to make the headlines and, long term, should create increased demand for the token.
Phantasma, a blockchain for decentralised content distribution, moved to its own mainnet on April 30th after a successful migration from the NEO blockchain. The Phantasma Chain mainnet promises to be a “fast, secure and scalable blockchain solution that allows for interoperability with other blockchains while maintaining a decentralized governance system”. As well as allowing content creators to share their work with whoever, whenever and however they want, Phantasma Chain also makes giant leaps in blockchain interoperability through its Phantasma App. The App allows users to connect to any dApp from any blockchain and converts automatically between coins and tokens. What’s particularly interesting this month, is that the mainnet launch has seen the introduction of Staking on the Phantasma network. A new dual-token system means anyone who stakes the Phantasma Chain native $SOUL token will receive ENERGY ($KCAL) tokens. 1 $SOUL will generate 0.002 ENERGY per day. The minimum amount of SOUL to be staked to receive Energy is 1 $SOUL. price: $0.034973
price: $0.016464
market cap: $2,040,066
market cap: $143,024,974 daily volume: $15,852,483 circ. supply: 8,687,360,058
daily volume: $319,132
circ. supply: 58,332,939 total supply: 91,136,374
total supply: 12,533,042,435
https://phantasma.io
https://www.zilliqa.com
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4 R E B NUM 3 R E B M NU
WAVES (WAV)
EOS (EOS) One’s flagship blockchain platform, $EOS has been in a steady, gradual uptrend since bottoming out at $1.72 back in December 2018. Now at around $5.50 (at the time of writing) EOS looks set to throw a cat amongst the pigeons with a ‘major announcement’ on June 1st. Details on the #B1June event, set to be held in Washington, are scarce with EOS sharing cryptic messages and video promos on its social media channels. Whatever the announcement is, it’s considered by Block.One as being of high enough importance to warrant its own ‘sign up’ page. Blocktivity say $EOS facilitates over 20million transactions per day and hosts ‘thousands’ of dApp users– however the number of these users and transactions that are genuine is often disputed. If they are even close to being a true reflection of $EOS’s user base though, the value of the token itself should be protected, at least in the short term, making it a reasonable holding option considering the potential news boost at the start of June.
Waves, one of the many suitors for the title of ‘fastest blockchain platform’ is set to complete the second funding round for its Vostok offshoot this month. Vostok is Waves attempt to attract the business of global enterprises and public institutions by offering them the tools to build and implement blockchain infrastructure. The first investment round for Vostok back in December 2018 raised $120m giving the project a valuation of $600m. The second round, closing at the end of May is also set to raise $120m and will “provide us with, among other things, opportunities to enter new markets." according to Waves founder Sasha Ivanov. price: $2.16 market cap: $215,928,421 daily volume: $45,302,339 circ. supply: 100,000,000 https://wavesplatform.com
price: $4.88 market cap: $4,440,028,552
daily volume: $1,779,020,864
circ. supply: 910,762,994 total supply: 1,010,762,997
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https://eos.io
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A, S U , C nD o t g n i h as W n i d l t. e n h e t m n e p v o el ee v n e u d J s 1 t i B for Th e s w e n ing k a e r b d groun
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D L O H
IOST (ZIOST)
5 R E B M NU
BEAM (BEAM) $BEAM is one of the two major projects to have launched its mainnet using the Mimblewimble (MW) protocol. $BEAM beat its main MW competitor, Grin, to the punch by launching two weeks earlier despite starting development later. While Grin is a decentralised community-based project, BEAM is an Israel-based start-up with a part VC-funded full-time team of developers – allowing them to hit major project milestones faster. Litecoin creator Charlie Lee also revealed that his team had discussions with $BEAM on the possibility of bringing MW technology to Litecoin. Despite this, since launch $BEAM hasn’t fared as well as much of the altcoin market this quarter, slipping from around $2.50 to $0.58 at the time of writing. It’s possible that a combination of $BEAM only being available on small, relatively untried exchanges and a lack of viable wallet solution made purchasing the coin an unattractive prospect– especially considering the flurry of exchange hacks that have taken place this year. But now with the launch of their iOS wallet, $BEAM has at least solved 50% of that problem. This, combined with a chart that looks as though it is ‘bottoming out’ suggests $BEAM may soon become an attractive proposition for investors once again. price: $0.478841
market cap: $8,541,640
daily volume: $5,710,019
circ. supply: 17,838,160
total supply: 262,800,000 https://www.beam.mw
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Internet of Services Token (IOST) is an ultra-fast, decentralised blockchain network based on the next-generation consensus algorithm “Proof of Believability” (PoB). The good news is it’s really easy to stake– so you can start earning rewards straight away. Now that the IOST mainnet election has begun, all IOST holders need to do is use their tokens to vote for partner nodes through their zero-technical-barrier, one-click voting portal. The rewards are pretty generous too. Even if you missed the early-bird staking rounds (during which the annualized returns are 25%) there are still voting dividends available of an on-going 50% share of the voted partners/ nodes rewards (as long as that node successfully reaches the 2.1M token requirement during the election). The minimum amount of IOST required to vote is an extremely accessible 1,000 IOST– which, at today’s prices– amounts to around $12. Another benefit is that you won’t have to wait long to access your rewards. Token Issuance rewards are paid out every day, while Ecosystem bonus rewards are paid out on a quarterly basis. price: $0.121137 market cap: $137,100,064 daily volume: $33,221,786 circ. supply: 12,013,965,609
total supply: 21,000,000,000
https://iost.io
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E H T F O H T N MO
MULTIVAC (MTV)
ELOCATIONS
Continuing the trend of ‘blink and you’ll miss out’ IEO sales, KuCoin’s first ‘Spotlight’ sale project MultiVac sold out in a mere 7 seconds.
eLocations has already been dubbed the ‘AirBnB of Commercial Real Estate’ by ICO Bench.
According to host exchange KuCoin, over 16,000 accounts participated in the IEO with only 1161 actually managing to bag any tokens.
(ELOC)
If ever there was an industry primed for blockchain-based disruption it’s retail real-estate. Heavily fragmented, the vast industry is still primarily offline. There’s no real online visibility of global retail property availability– be they high street shops, or shopping centres, the right opportunity can be hard to find. Even if a buyer is able to zero-in on just some of the millions of available properties, local market intelligence is thin on the ground and even the purchasing process is clunky and mostly paper-based. eLocations plans to use the blockchain to change all that. Their online ‘one stop shop’ aims to analyse all commercial property opportunities, globally. As well as creating a powerful retail property marketplace, eLocations also plans to move the offline paper contract process to blockchain smart contracts. They say “up to 60% of eLocations’ future net income will be distributed to all Token holders” and that once the eLocations platform is up and running, the Security Token will be exchangeable against a newly-created Utility Token at a discounted price of 20%. This will allow STO investors to use their tokens on the actual platform should they wish, rather than holding for profits.
MTV’s IEO price was $0.006 and it immediately doubled in price upon listing at KuCoin, but has since settled back down to $0.008 at the time of writing. What is MultiVac? Well, first of all, it’s absolutely not a decentralised household vacuum cleaner. It is in fact a high-performance blockchain that uses Trusted Sharding Technology to tackle the scalability challenge. A key feature of the platform is the MultiVac Virtual Machine (MVM). This gives developers the ability to fine-tune the features of their individual smart contracts depending on the levels of decentralisation, performance and security required. Of course, as soon as sharding is mentioned, many will think of Zilliqa who have already successfully launched the first sharding-dependent blockchain. $ZIL represents the stiffest competition for $MTV, in an already crowded market. However, if $MTV can come anywhere close to matching the success of $ZIL– currently sitting at around 15x its ICO price, early investors will be more than happy with their returns. price: $0.006254
market cap: $4,940,858
daily volume: $752,958
circ. supply: 790,000,000
total supply: 10,000,000,000 ico price: €0.05 total supply: 1,000,000,000
ito dates: N/A
twitter: @e_locations
telegram: eLocations.io
buy at: https://www.elocations.io/#contact
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https://www.mtv.ac
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2 R E B NUM 1 R E B M NU
BITGUILD (PLAT)
AXPIRE (AXPR) As of March 11th, Axpire has introduced a coin burning programme during which they plan to burn 5% of their revenue from the license fees of their Resolvr software at the start of every month. At current rates, this should mean around 100,000 AXPR are burned at the start of May, and June. AXpire also say the amount “will be adjusted with incremental clients of Resolvr as we grow”. For the trader, the interesting part of the story is that in the few days surrounding April’s coin burn, the price of AXPR leapt from $0.0073 to $0.011. Of course, there could have been many other contributing factors, but it will certainly be worth keeping an eye on AXP around the first few days of May, and June. price: $0.007157 market cap: $2,032,926
On 6th May BitGuild begins the migration of its PLAT utility token to the TRON network. Their flagship game, Bitizens, already made the move at the start of the year, and the migration of the PLAT token was an inevitable consequence. BitGuild say: “With TRON solving many of Ethereum’s scalability challenges and fast becoming a force to be reckoned with in the crypto world, we knew this was the right move if we were to abide by our mission of bringing blockchain to the masses”. In the very short term, this should mean PLAT hits the crypto headlines this month– Justin Sun is never shy when it comes to promoting new additions to the TRON family. Long term, the increased liquidity benefits that usually follow from joining the TRON network (see BitTorrent) together with BitGuild’s promise that “a portion of the revenue of all BitGuild products will be used to buy back and burn PLAT”, could combine to increase the value of the token.
daily volume: $7,401
price: $0.000822
circ. supply: 284,040,475
market cap: $2,476,547
total supply: 349,040,475
daily volume: N/A
https://www.axpire.io
circ. supply: 3,012,617,482 total supply: 9,316,679,264 https://bitguild.io
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4 R E B NUM 3 R E B M NU
APEX (CPX) The launch of the Apex mainnet is fast approaching, and to celebrate the enterprise blockchain provider is set to introduce a Node Rewards Program, known as “KRATOS”.
TOMOCHAIN (TOMO)
TOMO has been in a general uptrend since December 2018. There have been peaks and troughs on the way up though, giving traders plenty of opportunities to capitalize on market moves. One such opportunity may present itself this month with the scheduled launch of the TomoX Decentralised exchange. In a blog post back in November 2018, Tomochain said: “Development for TomoX has been ongoing for two months, and we plan for it to go live in the mainnet in late Q1/early Q2, 2019”. If TomoX does launch this month, expect plenty of fanfare and potentially even an increased demand for TOMO tokens should the exchange become popular. With a market cap of around $35m, it won’t take much buy pressure to see the price of TOMO move fairly sharply– but also keep in mind the old adage ‘sell the news’ once the DEX announcements take place.
Apex ran a similar rewards programme last autumn, and a quick look at the 12 month chart reveals an almost comical ‘hump’ in 8 months of otherwise stagnant price action. Even if you didn’t know, it wouldn’t be difficult to spot the timing of the last rewards programme. This time around, the size of the reward pool has increased ‘significantly’ according to Apex and is set to be worth more than $100,000. Creating further demand for CPX during the two snapshot periods in May, is the fact that must boast a Data Cloud Node (>20k CPX) in order to be eligible for the reward. If the scheme has a similar impact on price action as the 2018 campaign had, there could be some excellent trades on offer around the time of the snapshots. price: $0.008672 market cap: $4,020,319 daily volume: $80,877 circ. supply: 463,582,330
price: $0.558170
total supply: 676,989,090
market cap: $33,354,600
https://apexnetwork.io
daily volume: $284,514 circ. supply: 59,757,100
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total supply: 100,000,000
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https://tomochain.com
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BITTUBE (TUBE)
5 R E B M NU
BitTube allows you to monetize your time on the internet, either while browsing or generating content.
ICECHAIN (ICHX) IceChain’s ICO ended in November 2018 and they made swift work of launching v0.1 of their public testnet – which went live early in March. $ICHX is already listed on six minor exchanges and an interesting trading opportunity may present itself when V1.0 of their testnet goes live on 30th May 2019. This is because a snapshot will be taken at 00:00 UTC on that day, at which point the 200 wallets holding the most $ICHX will be granted access to testnet mining with future possibilities to convert vICHX to $ICHX at 1:1 ratio. Whilst you may not be eager to fill your boots with $ICHX in order to claim one of the top 200 spots, it’s almost inevitable that some others will. A sudden increase in demand will result in an increase in price, therefore it will be worth keeping an eye on the market in and around the snapshot period. price: $0.000010 market cap: $7,407
With working browser extensions, an integrated wallet and ad-blocker, BitTube is already developing a groundswell of users. $TUBE can be spent and donated online, so already has that much-needed utility. In addition, BitTube has developed a WooCommerce payment gateway which allows online businesses to easily add $TUBE payment functionality to their websites. If the ability to pay with and receive $TUBE for online purchases directly into the company’s wallet catches on, this could generate serious demand for $TUBE. $TUBE also has the added privacy benefits of being a coin based on the Monero currency, making use of the Ring Confidential Transactions concept. $TUBE uses the Cryptonight Saber mining algorithm and 30% of the $TUBE generated by each block is retained for distribution as AirTime rewards to content browsers and publishers alike. You can mine $TUBE through pools, and the official pool can be joined at https://mining.bit.tube. On average, a block is found by the official pool every 48-51 minutes (at the time of writing). According to www.whattomine.com, using 330W of power at a hash rate of 2700 h/s would take 4,771.19 days to mine 1 BTC worth of $TUBE at current rates.
daily volume: $60 circ. supply: 767,587,286 total supply: 1,000,000,000
price: 0.037864
https://icechain.io
market cap: $5,543,177
daily volume: $48,273
circ. supply: 146,397,181
total supply: 148,177,181
https://bittubeapp.com
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T N A I G
TE-FOOD (TFD) $TFD was one of 2018’s most heavily-shilled microcap coins, and with good reason. The food supplychain traceability market is ripe for blockchainbased disruption. Indeed $TFD already boasts an array of impressive partnerships including Deloitte and the Food and Agriculture Organisation. They also claim to have 6,000 current business customers and trace 200,000 chickens and 2.5milllion eggs per day. However, it’s been just over a year since $TFD reached its all time high price of $0.05. Currently sitting at $0.008 with a market cap of $4.2m, $TFD could be a few exciting news updates away from its next bull run. And those ‘exciting updates’ may come sooner than we think. $TDF recently announced the launch of their Q2 ‘SCALING UP’ campaign during which they say they will “scale up adoption, transactions, masternodes, business scope and charity programmes’. Certainly one to keep an eye on. price: $0.005778 market cap: $2,949,416 daily volume: $15,780 circ. supply: 510,477,968 total supply: 567,917,833 https://ico.tefoodint.com
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on m e t s y e co s y t i l i b i es a t i e r c o a r h t t au od o d f n h a s s e r r lie ef l p b p a u t s , o s t er rmm a u f s n a o s c i D all O s e O t F a r E g T n te i h c i h ,w n i a h c k bloc rk . o w t e n i n to o n e
+ + C I R O E T ME
E S I R
BASIC ATTENTION TOKEN (BAT)
O IC
T S I L H C T A W DAYTA (DAYTA) Dayta uses blockchain technology to hand people back the keys to their own personal data.
Basic Attention Token ($BAT) has had a stunning start to 2019, rising over 300% from its yearly opening price of $0.12. In fact, in April alone (at the time of writing) the price of $BAT has risen over 100% as it currently sits at $0.39.
If you’re sick of hearing about how companies are harvesting your data for their own ill-gotten gains– Dayta could be the ICO for you. Their personal data management framework is GDPR ready, and allows users to control their data, monitor who’s using it, and profit by giving selected entities access to it.
$BAT was founded by Brendan Eich, the man behind JavaScript and the co-founder of Mozilla and the major impetus for this past month’s meteoric rise is likely rooted in the growth of another Eich creation– the Brave Browser.
Personal data will be held offline, and only confirmatory data stored on the blockchain. The Dayta tokens will be used for a variety of ecosystem actions including securing data, and purchasing items in the Dayta store.
Brave announced back in March that its ads rewards programme had gone live, allowing web users to reward online content creators and publishers with $BAT– a whole new revenue stream for YouTubers and Twitch game streamers among others. In mid-April, the rewards system was taken mobile as Android users were able to use it for the first time. Whilst primarily acting as an ad-blocker, Brave also plans to reward users in $BAT for viewing their privacy-first ads.
pre-ico price: 0.0000193 ETH
ico price: 0.0000296 ETH
min investment: $250 total supply: 1,500,000,000 preo-ico dates: Jun 28- Jul 12, 2019
ico dates: Jul 12- Aug 9, 2019
twitter: @MyDayta buy at: https://www.mydayta.io/register
What affect this will have on the supply and demand dynamics of $BAT remains to be seen– but the development of a genuine use-case and a thriving ecosystem built around the token would be great news for any HODLers. price: $0.320079
market cap: $403,459,127
daily volume: $40,807,695 circ. supply: 1,260,498,401 total supply: 1,500,000,000 https://basicattentiontoken.org
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n e u l f n i edia m l a i c so h t i w s e s. i d t n r a a r p b o s tw ect e n h n t o c n e a we t e b s Gemstr n o cti a s n a r t ct fo r d i re
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BCNEX (BCNX) GEMSTRA (GEMS) Gemstra plans to tokenize what it calls “largest gig economy ever”– using blockchain technology to bring together Key Opinion Leaders and influencers. As well as powering direct commerce between companies and influencers with large followings, Gemstra also provides a platform for niche influencers with small but more passionate audiences. Gemstra’s ‘Boutiques’ online marketplace, launched in 2017, gathered ‘over 3000 influencers/KOLs, 8 brands, and reached 7-figure run-rates within 10 months of launch’. So they have form. Their new Astra smart-contract based platform is set to take the Boutiques idea a step further as “Gemstra eyes an industry valued well over $100 billion globally and seeks to serve 50% of industry volume as its default commonwealth infrastructure”.
With so many new crypto exchanges springing up day after day, BCNEX is setting itself a high bar by claiming to be ‘the ultimate blockchain trading platform’. They do have pedigree though. The team behind BCNEX first joined the Forex market in 2006. Since then they have developed a number of Forex trading systems and in 2009 they “deployed a real-time data application system to handle penny auction transactions and system order matching, and eventually to operate the trading platform for our foreign partners”. The BCNEX crypto exchange itself will use an Institutional-grade Trading Engine, with the aim of handling up to 2,000,000 orders per second. The BCNX utility token will be used to trade, buy and sell other cryptocurrencies on BCNEX, as well as paying transaction fees, while token holders can look forward to receiving incentives of up to 75%. ico price: $0.15
pre-ico price: $0.1
ico price: 0.0001 ETH min investment: 0.3 ETH
min investment: $100
total supply: 2,000,000,000 preo-ico dates: Apr 15- Jun 30, 2019
ico dates: Aug 1- 14, 2019
twitter: @GemstraOfficial
telegram: Gemstra (GEMS) [Official]
buy at: https://cobinhood.com/token-offering/
total supply: 100,000,000 preo-ico dates: ico dates: Jan 1- Feb 28, 19 (Ended) May 3- Jun 27, 2019 twitter: @bcnex_net
telegram: Bcnex Official
buy at: https://www.bcnex.net/ico-home-session
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LOVE AIR COFFEE (LAC)
MIGRANET (MIG) Donald Trump, look away now. Migranet is the world’s first blockchain-based global-immigration platform. Migranet plans to use AI to offer free eligibility consultations to people thinking of migrating to a new country. They will use blockchain technology to verify migration agents and store documents and biometric IDs securely on the blockchain. Because of the reduced administration costs afforded by blockchain-optimized systems, Migranet also plans to offer up to 90% reductions on fees, including permanent residence for $500, temporary for $150 and NGO-friendly pricing for refugees. The MIG utility token will be used for the payment of services on the Migranet platform.
If you like your coffee served hot and decentralised, LOVE Air Coffee could be the project for you. LOVE Air Coffee say they have “developed innovative equipment for roasting coffee beans which significantly improves the taste and aroma”. For those more focused on financial aspects, their technology “preserves the beneficial trace elements contained in coffee and minimizes the loss of weight in the grain during processing, which significantly increases profits”. Where does blockchain technology come in? Well LOVE Air Coffee says it will be used to optimize many business processes including analytics, product tracking, customer contact and privacy. The platform’s LAC token will be used to pay for coffee orders online or in shops at discounted rates. ico price: 0.025 EUR
ico price: $0.2
pre-ico price: 0.015 EUR
min investment: 1 ETH
min investment: 1 ETH
total supply: 510,000,000
total supply: 125,000,000
ico dates: May 16- 18, 2019
preo-ico dates: May 1- Jun 10, 2019
ico dates: Aug 1- Aug 31, 2019
twitter: @LOVEAirCoffee
telegram: LOVE Air Coffee Official
twitter: @Migranet1
telegram: Migranet.io
buy at: https://platform.icomplyico.com/ico-registration
buy at: https://tokensale.loveaircoffee.com
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REVIEWS FIND OUT WHAT'S HOT IN THE CRYPTO WORLD THIS MONTH OUR THOUGHTS ON A SELECTION OF PRODUCTS FROM THESE WORLDS: WALLET
SERVICE
HARDWARE
EXCHANGE
APP
(Clockwise from top) Hardware: CoinWallet S, the ‘no ordinary hardware wallet’ with well-developed usability and patented technology to secure your funds (P.44). App: Bitcoinflip, a unique bitcoin trading simulator (P. 45). Service: Dharma, the new platform allows you to either lend or borrow cryptocurrency from anywhere in the world. (P. 42).
WALLET
https:// atomicwallet.io
ATOMIC WALLET
What is it?
What can I do with Atomic Wallet?
The Atomic Wallet lets you store, manage, and swap your cryptocurrency in a secure, decentralized, and anonymous environment.
As well as being able to manage your standard cryptocurrencies like Bitcoin, Ethereum, XRP and Litecoin, the Atomic Wallet allows you to use over 300 tokens within the single interface.
Set-up Set-up is relatively simple for this wallet. Go to Atomicwallet.io, and download and install their app. Click create wallet, then enter your details and create a password, then you’ll be given a seed phrase you’ll have to write down and store safely, as this will allow access to your wallet to anyone who has the phrase.
Cool features
(Bottom right) The dashboard of Atomoic Wallet.
The number one cool feature about this wallet is that it’s extremely simple to use, so is perfect for beginners, while also being brilliant for experienced users alike. Another great feature is that you can buy bitcoin directly with a credit card in the atomic wallet interface, which means that you don’t need an exchange account in order to start purchasing and trading cryptocurrencies. The wallet is also packed full of features designed to make the user journey as easy and enjoyable as possible. The main hurdle to mainstream adoption of cryptocurrency is the fact that it’s so
darn complex for a lot of us to use, let alone get our heads around - and so a wallet like this which puts the user experience first, is destined for greatness, and will do a huge amount towards furthering the adoption of crypto by the masses.
Atomic Swap Exchange One of the other key features of the Atomic Wallet is that you can perform cross-chain atomic swaps within the interface. This means that third parties will never get hold of your tokens, which will provide an even more secure and safe environment for users. The wallet allows you to use 300 tokens, and for the ones it doesn’t support, it has built in systems for you to use other decentralized exchanges such as ShapeShift and Changelly, which have many more available tokens.
Availability Atomic Wallet is available on all the major systems, including Windows, MacOS, Ubuntu, Debian, Fedora, and you can also get it on Google Play and the App Store. Visit https://atomicwallet.io.
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SERVICE
DHARMA https://www. dharma.io
What is it? Exciting news this month as we see the Dharma protocol become operational– the new platform allows you to either lend or borrow cryptocurrency from anywhere in the world.
“Experience magical internet money” Borrow, lend, and experience crypto on Dharma
What can I do with Dharma? You can either take out a loan in a few simple clicks, or you can put your cryptocurrency to work yourself and use the platform to lend to others - accruing interest along the way. This interest could be up to 14% of your initial investment, according to the Dharma website. The service isn’t unique to crypto, but it certainly looks like one of the more popular ones already judging by the amount put up for borrowing, and the amount taken out in loans already.
Set-up There’s no set-up to speak of. And as such, there’s already been $9million borrowed and $11.9million offered. You need to have a name (check) an email address (yup) and… well, that’s about it.
Cool features
(Top) Dharma logo. (Bottom right) Screenshots of the Dharma beautiful user experience.
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It’s so simple to use, and has the potential to put the banks out of business by giving real-world interest gains to the average cryptocurrency hodler, without any of the paperwork. The real benefit here though is to the borrowers as opposed to the lenders. The hoops people
have to jump through to get a loan approved by the banks is insane, and even after all the i’s are dotted and the t’s crossed, a vast amount of loan requests are refused. Not to mention the risk of accidentally committing fraud if you suddenly need to use the loan for a different purpose than you initially requested it for. Crypto loans are much safer, however the onus is on the borrower to be responsible for their money, which is both a blessing and a curse for some.
Not so cool features It’s slow. Their website has an interactive graph showing the amount of ETH you can earn through interest by loaning out your cryptocurrency through their platform - and, well, it’s nothing to write home about. For an initial wallet balance of 10 ETH, you can earn 1.29 extra ETH (13%) after 5 years. Now, perhaps we’ve been spoiled by the 1000% crypto gains most of us have lived through, but a 13% love bite after 5 years isn’t that groundbreaking in and of itself.
Availability It’s available to anyone, anywhere. Visit https:// www.dharma.io to learn more.
EXCHANGE
https://getfifo.io
GETFIFO
The cheapest place to buy and sell cryptocurrencies in the UK
What is it? getFIFO is a UK based cryptocurrency exchange which allows users to buy and sell crypto– according to their website– for the cheapest prices in the UK.
What can I do with getFIFO? With the getFIFO exchange, users can buy and sell cryptocurrency tokens instantly in a safe and secure environment, for low cost. Does what it says on the tin.
Set-up A simple and standard exchange registration is required to set-up your account, nothing too strenuous at all.
Cool features One of the coolest features about getFIFO is their desire to make the world a better place through charity. The exchange has a program in place which gives a set amount of their net profit to charity each and every quarter. The charities themselves will be selected by the getFIFO board, and voted for by the users - which will help with community engagement significantly. The FIFO team say that they pride themselves on being transparent and honest, and through this transparency they can grow and develop their platform along with their (Top) The dashboard of getFIFO exchange. (Bottom) Co-Founder and COO of getFIFO Jeff Hancock.
customer base. They say they aim to bring social conscious (do they mean conscience?) to the blockchain, and will do this through their charity work. It’s a relief to see businesses operating in the cryptosphere that value a social conscience instead of solely making money After all, what’s the point in making money if you don’t put it to good use?
Not so cool features Where do we start… In terms of their charities only UK ones are eligible. This strengthens their core UK audience, but at the same time would slightly negate the effect of this program on the wider world. The next thing - and this is really a personal gear grinder as opposed to anything significant - is that all over the site the team refer to ‘Crypto Currencies’ as opposed to the accepted term Cryptocurrencies. It’s a non-issue, and doesn’t affect the service they provide, however the seasoned veterans of the cryptocurrency industry may think twice before signing up, as even a single typo or misspelling can historically affect customer trust significantly. And some small typos, as stated above. Conscience, FIFO team, not conscious landing page marketing copy matters! Also, some of their landing page links revert back to the top of the page instead of linking to other areas of the site. Basically, their website needs a little work (but we can talk).
Availability Users can register at https://getfifo.io
REVIEWS
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HARDWARE
https:// coolwallet.io
COOLWALLET S What can you do with CoolWallet S?
What is it? CoolWallet is the world’s first hardware wallet for Bitcoin, Ethereum, Litecoin, XRP, Bitcoin Cash, and ERC20 tokens.
Cryptocurrency hardware wallets are the superior way to keep your digital currencies safe. The term used to describe these wallets is ‘cold storage’ as the funds are secured off the major networks, and as such are resistant to hacking and tampering of any kind. The CoolWallet website describes their hardware wallet as ‘no ordinary wallet’, having a combination of well-developed usability and patented technology to secure your funds.
Set-up Purchase, await delivery, and then follow the simple instructions to set your hardware wallet up. As with everything to do with cryptocurrency, nothing is simple– however the CoolWallet is one of the simpler hardware devices to use.
Cool features The CoolWallet also has an app which you can use alongside your hardware wallet. This app is secured via military-grade bluetooth technology, and ensures that your funds are never
exposed to any network, even while using the app. With this app you can track your hardware wallet’s investments with an intuitive dashboard, and you can send and receive transactions instantly in a secure environment. The CoolWallet hardware wallet itself is extremely user friendly, nd in fact only has one button through which you use it. On the website, Charlie Lee himself, creator of Litecoin, endorses the CoolWallet as being the best hardware wallet he’s used. Some other benefits of the hardware wallet compared to other wallets, are that some only allow desktop only interfaces, some allow hot storage, which means your funds are at risk. There’s also a 2+1 factor authentication, which is superior to other methods for securing your funds safely.
Not so cool features As with any piece of hardware, there’s a manufacturing cost attached. The CoolWallet comes in at $99 USD, which is not extortionate by any means, however it does mean that those looking to buy and sell cryptocurrencies cheaply may opt for free and less secure online wallets. Also, other hardware wallets such as those made by Ledger come in at a little cheaper. However the price difference is negligible - and if you’re going to fork out for some super secure technology, then a difference of $20 or so really isn’t anything to worry about. It’s a much better alternative than the risk of losing $1000s on an unsecure and unreliable online hot wallet.
Availability (Top) CoolWallet S logo (Bottom) CoolWallet S' hardware wallet and app.
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You can buy the CoolWallet at https:// coolwallet.io.
APP
https:// bitcoinflip.app
BITCOINFLIP The world’s best Bitcoin trading game
What is it? Bitcoin Flip is a unique bitcoin trading simulator that allows you to trade and test out your strategies to see what your chances would be of earning some serious money if you were to trade for real.
What can I do with Bitcoin Flip? The app is pretty easy to use, and you can trade any cryptocurrency either with standard practise or with leverage. You can also see how much of what currency others are buying and selling. This is an extremely useful app - the horror stories of people investing their life savings into cryptocurrency at the top of bitcoin’s $20,000 peak, and then losing them weeks later, were coming forth on an almost daily basis. This app is fun, sure, but its educational benefit is far greater. Helping people to trade effectively and manage their money correctly in a no-consequence environment is invaluable.
Set-up Just click and play! You get $10,000 of pretend magic internet money to start with. Use it wisely.
Cool features All the pricing is real-time, so you can watch and research
on charts and through your other research portals, and buy and sell instantly on the app - meaning that there’s a high level of accuracy with what you’re doing, so you can see much better whether it’s working or not. The app itself has helpful candlestick and line charts so you can do everything in-app if you’d like as opposed to using other sources for your monitoring.
Not so cool features The nature of the app may well encourage *some* people to trade more riskily in real life. Statistically, someone out there has to have a lucky run. Imagine having a user who uses a trading simulator like this, and they stake $1000 on some Altcoin that time forgot, and they see a $10x gain overnight. Then they do it again, and again, and one in a hundred thousand people may well become an overnight millionaire (within the realm of the app). What happens then when they go headfirst into cryptocurrency trading for real, and they find that their life savings suddenly vanish as their lucky streak runs out? Ideally, an app like this would be accompanied by an educational portal or integrated systems, so that people can learn along the way. Fun is fun, but it’s important to remember that the app is training people for spending their real life money. That said - it’s certainly much better than having nothing at all to trade with, and for 99% of people will prove to be extremely effective in helping them improve their game.
Availability Bitcoin Flip is available on the web, on Android, or iOS.
(Bottom) Screenshots of the Bitcoinflip game interface.
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GENESIS: A TIMELESS PIECE OF BITCOIN HISTORY In the true spirit of crypto, we love to push boundaries. MCW GENESIS will be available for purchase with Bitcoin, and will be limited to 10 units worldwide. ad In addition, each handmade MCW watch will have an 18k solid gold bezel, with its limited edition serial number engraved on the back.
Reserve yours NOW mrcryptowatches.com/reserve
HANDMADE LUXURY WATCHES
Mr Crypto Watches
Genesis Series Turns Back Time For An Exclusive Club Of 10 Mere months ago, the owner and creator of Mr Crypto Watches stood in a private elevator, ascending to the penthouse suite of one of Prague’s tallest buildings on a very special mission. He was hand-delivering the first ever Mr Crypto Watch to its excited new ownerone of only 21 in the world, in fact. Now, Mr Crypto Watches is set to launch a brand new, equally exclusive range of luxury timepieces; Genesis, that will take just 10 owners on a journey back to the beginning of Satoshi Nakamoto’s Bitcoin vision. But more on that later.
SPONSORED
The Mr Crypto Watches Story Born from a love of horology and a respect for blockchain culture, Mr Crypto Watches is the result of passion and experience. Each Mr Crypto Watch is inspired by a form of cryptocurrency and utilizes Swiss craftsmanship, in order to bring the digital realm into a tangible, elegant product. Mr Crypto Watches offers an innovative take on the time-honoured world of luxury watches. Every model is made in an exclusive edition of 21, related to the finite nature of Bitcoin. Furthermore, each watch is engraved with a unique serial number, trackable online and influenced by the security of the blockchain. Handmade, only the finest materials are used in production, such as 18-karat gold, Swiss automatic movement and Italian leather. A fine watch, much like the blockchain, is an item that remains stable in a world that moves faster than ever. It can be shared, holding its value and resisting manipulation from external sources. Mr Crypto Watches takes the values of cryptocurrency and pushes the boundaries by forging something sophisticated, scarce and luxurious.
Genesis With the brand new Genesis range, this time limited to just 10 pieces, you have the chance to own a piece of Bitcoin history. Exclusively designed to celebrate the 10th anniversary of Bitcoin’s genesis block, each Genesis watch comes with commemorative engraving on the Geneva-striped rotor. Each piece also fuses together timeless beauty, the finest materials and a luxurious feel with the latest blockchain technology. In a world-first, each Genesis watch case is also engraved with a unique Bitcoin address which can be used to verify and transfer ownership of your watch on the blockchain. That same address can also be used to check against a database on the Mr Crypto Watches website for provenance details including build year, edition, owner, maintenance record and a flagging system in case the watch is ever stolen.
All 10 Genesis watches also benefit from the high-end specifications guaranteed by any MCW piece: ΔΔ Sapphire crystal topside glass ΔΔ 18k solid gold bezel ΔΔ Swiss made automatic movement, self-winding, 'perlage' on the base plate and the bridges, 256 parts, 40 hours power reserve Δ Δ Rotor with 'Geneva' finishing and Bitcoin symbols engraved Δ Δ Green dial, with applied indices and Bitcoin pattern ΔΔ 10 ATM water resistance ΔΔ Genuine leather yellow/gold and additional black crocodile leather straps, with stainless steel folding buckle
Custom Made Editions If being ‘one of 10’ or even 21 watch model owners doesn’t quite feel exclusive enough for you, Mr Crypto Watches also works with individual clients on totally unique, one-ofa-kind custom pieces. Custom clients are consulted throughout the design phase and can specify materials and aesthetics that really make their pieces one-of-a-kind.
Where To Buy A My Crypto Watches Piece To join cryptocurrency’s most exclusive club, head on over to www.mrcryptowatches.com/reserve/ to reserve your timeless piece of crypto history. Or contact r@mrcryptowatches.com for custom enquiries.
E H T
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Currently sitting at a market cap of just over $3.1bn, and with a token price of $22 (at the time of writing) it appears that the sky is the limit for $BNB. Industry commentators have speculated that the launch of Binance Chain could have a “devastating effect” on the current incumbent of the top altcoin spot, Ethereum. When Binance launched its ICO in July 2017, with native token $BNB priced at just $0.10, few could imagine the success story that was to follow. Less than two years later, after the recent launch of Binance’s own blockchain– Binance Chain– and another surge in price, $BNB became only the second cryptocurrency to reach a new all-time high since 2017 (after EOS in May last year).
Cryptocurrency financial rating agency, Weiss Ratings went a step further, saying on Twitter “It seems $BNB is leading the market now– when $BNB is up, the market is up– and vice versa. Is BNB the new (Bitcoin)?”
B N B $ IS
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In short, no. For one simple reason- $BNB is centralised. Binance CEO Changpeng “CZ” Zhao has proven himself to be a masterful leader and an incredibly shrewd businessman. But the fate of Binance and $BNB will always lay in the hands of Zhao, his team or shareholders. In the same way that CZ was able to click his fingers and delist $BSV after the Craig Wright controversy, he could just as easily decide to close or change the direction of Binance at a moment’s notice, in a way that users find unpalatable. It’s unlikely, but it’s a risk nonetheless.
In this feature, 21CRYPTOS Magazine takes a look at just how high $BNB could soar, and asks
‘can anyone stop Binance ?’
So ideologically, unless CZ has a huge surprise up his sleeve, $BNB cannot be the new Bitcoin. But can it surpass Bitcoin’s market cap?
Certainly. At its current market capitalization, Bitcoin is 31 times the size of $BNB. The gap may seem insurmountable, but if you believe in the fabled ‘trillions of dollars of institutional money’ set to flow in to crypto at any moment, then it really is all to play for. As a decentralised store of value, it’s hard to contemplate any other currency coming close to toppling Bitcoin. However, in terms of utility, $BNB has a major advantage. As a centralised entity, it can ‘get s**t done’ – and quickly.
L D I U B # As CZ frequently comments, while the bear market has bitten hard, Binance has kept its head down and continued to build, or ‘buidl’ new utility for the $BNB token. First of all there is the discount offered to $BNB holders on trading fees. More recently, demand has been driven by Binance’s Launchpad IEO service. With many of the initial IEOs selling out in seconds and spending $BNB being the only way to get a slice of the action, it’s no surprise that the price of the coin has grown 300% in 2019. Back in March, Binance launched a #UseBNB campaign to highlight the array of use-cases for the $BNB token. With a list of over 50 real-world use cases and wallets, including the ability to buy HTC smartphones, take out loans through NEXO or EthLend, and even buy a house through Propy there are plenty of ways to spend $BNB– and Binance’s coin-burn mechanism also gives investors a reason to ‘hodl’ it. Every quarter, profits from the Binance exchange are used to buy back $BNB from holders and burn them, reducing the circulating supply and, in theory, increasing the value of the token.
Y T I D I U Q I L W A R D Binance is the world’s leading cryptocurrency exchange by volume, doing well over $1bn in volume every day– even in the deepest darkest winter the crypto space has ever seen. But a clever combination of the high profile #fundsaresafu campaign, and the continuous support of major airdrops, forks and token swaps makes it easy for crypto users to just leave their tokens on Binance and ‘forget about them’. Everyone knows leaving coins on an exchange is a terrible strategy – the seemingly endless stream of exchange hacks is testament to that. However, with CZ whispering in your ear every 5 minutes that “funds are SAFU” and putting his money where his mouth is with a SAFU fund in case user funds are ever lost, it can be tempting to break cryptocurrency’s #1 rule and just let your coins sit on Binance earning airdrops. Got a mainnet token swap coming up? Don’t worry, Binance will do it for you. Need to collect Gas for your NEO holdings? No sweat, Binance has got you covered. As well as dramatically raising the risk of losing your crypto though, this also creates a liquidity draw. While this isn’t great news for other exchanges and markets, it’s fantastic for $BNB holders as the more trades that are done on Binance, the more demand there is for $BNB. And Binance gives you very few reasons to move your coins anywhere else.
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Even with all of the above, a 31x difference in market cap is an incredibly difficult gap to claw back if $BNB is to dethrone Bitcoin. Also, as a centralised currency, there is no way $BNB can be the trusted store of value that Bitcoin will become, and to some extent already is. So is flipping Ethereum a easier target for $BNB? Well, currently $ETH has a market cap of $17.5bn - around 5x that of $BNB– so the idea of a $BNB/$ETH ‘flipenning’ is far more realistic than the idea of $BNB toppling Bitcoin. Fundamentally speaking, the launch of Binance Chain and the Binance DEX is also ‘one in the eye’ for Ethereum. Although initially, Binance say they only aim to “quickly launch a platform that does one thing very well: exchange assets”, CZ also had this ominous sounding warning for his competitors: “Once we show that the infrastructure is sound enough to handle many transactions quickly, the additional features will follow”. Perhaps CZ doesn’t even have world domination in his sights. In fact, responding to recent twitter suggestions that Binance Chain could mean the end of Ethereum, he tweeted: “(The ETH) dev community is unmatched. But they do many different things. Our (BNB) dev community is much smaller, but focused on one thing. Let’s see how it plays out.” “How it plays out” exactly is anyone’s guess. CZ told The Street that while Binance has a 10 year strategy, they tend not to plan any further than three months ahead. It’s difficult to know what CZ has up his sleeve.
However, after creating fiat-to-crypto on-ramps though the likes of Binance.Je and Binance Uganda, the arrival of a new crypto bull market would test the position of Bitcoin and Ethereum as gateways to other altcoin markets. Also, although the idea that a centrally owned exchange could be a DEX is troublesome, it would take a brave man to bet against the newly launched Binance DEX taking as much of a stranglehold on the decentralized exchange market as Binance already has on the centralised exchange market. Arguably more concerning to the likes of Ethereum, decentralized social media platform Mithril recently became the first existing project to migrate over from the Ethereum blockchain to Binance Chain. If many others follow suit, and Binance Launchpad continues to drive an IEO frenzy in the same way Ethereum provided the catalyst for ‘ICO Mania’ in 2017/18, the ‘Game of Crypto Thrones’ could have plenty more twists to come.
Who would bet against CZ wearing the crown once crypto winter is over?
SIMPLIFYING SATOSHI
SIMPLIFYING SATOSHI
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The Bitcoin Whitepaper Analysis
On October 31, 2008 an unidentified person or group calling themselves Satoshi Nakamoto released ‘Bitcoin: A Peer-to-Peer Electronic Cash System’.
Proof-ofWork
PART 4 OF 12
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In part 4 of this series, 21CRYPTOS Magazine continues its deep-dive into the whitepaper that changed the world.
By Carl Gunaratnam
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This section is where Satoshi Nakamoto begins to put the meat on the bones of his idea. In Section 3, he introduced the concept of using a timestamp server to prove the validity of a transaction, by verifying that it was ‘first’. However, in a decentralised system the timestamp itself must of course be decentralised too. And this is where Proof of Work (PoW) comes in.
SIMPLIFYING SATOSHI
“To implement a distributed timestamp server on a peer-topeer basis, we will need to use a proof-of-work system similar to Adam Back's Hashcash.”
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As time has gone on, Adam Back– whose Hashcash system was originally intended to prevent the abuse of internet-based services like E-mail– has proven to be a controversial figure. Back has often been quoted as saying Bitcoin uses Hashcash as its PoW, when there are clear differences. For starters, the Hashcash algorithm was designed to increase or decrease in halves whereas Bitcoin’s algorithm responds dynamically to maintain a steady rate of 6 new blocks per hour.
How does Satoshi’s PoW, work? Satoshi introduces his PoW solution, saying it
PART 4 OF 12
“involves scanning for a value that when hashed, such as with SHA-256, the hash begins with a number of zero bits. The average work required is exponential in the number of zero bits required and can be verified by executing a single hash”. This is where the ‘work’ comes in. To mine a block, miners use computing power to create a hash of the block of information they’ve put together (this block includes transactions and the hash of the previous block). However, hashes also have a numerical value– and in order to ‘win’ the block, and solve the puzzle, miners have to create a hash which has a numerical value below the hash target. The hash target is set using ‘zero bits’ as Satoshi says. Adding zeros to the target, makes creating a hash below that target even more difficult, slowing block creation when needed. Essentially, the ‘work’ is trial and error. Miners use their CPU power to constantly create hashes for the new block until one is created that falls within the target hash value.
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If you were paying attention to previous sections, you’ll know that the only way to create a different hash, is to change the information you’re hashing. But of course, miners don’t want to change the information in their blocks, as that pertains to transactions and the hash of the previous block. So to make it possible to generate different hashes without changing the block information, Satoshi adds a ‘nonce’ (‘number used once’) to is PoW system. Miners therefore keep all of the block information the same, and simply change the nonce each time, in order to create a different hash. Whoever is the first to select a nonce that, when hashed with the block information, creates a hash value under the target, wins the block and therefore the mining reward.
SIMPLIFYING SATOSHI
Crucially;
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“the block cannot be changed without redoing the work. As later blocks are chained after it, the work to change the block would include redoing all the blocks after it”. The sheer amount of ‘work’ required to change a block, all subsequent blocks, and catch up with the chain afterwards is the blockchain’s built-in safeguard. Even if an entity was to gather enough computing power (51% of the network) to make such a move, it is unlikely that the rewards would exceed the ‘effort’ expended to do so.
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P E O PL E OF H I B L OCKC A N WITH
E E PAV L MA T V EV FROM WIREX
 U S E YO U R MONE Y , YOUR W AY.
150 years ago, people wanted faster horses, but Karl Benz invented the car. Today, people want better banking, not realizing that it’s an old and broken model, so Wirex does what Karl did with cars and is reinventing how people and businesses store and spend their finances.
A B OUT REINVE N TING BANK I NG FO R PEO P LE AND N USI ESSES B
Wirex Limited is a borderless payment platform and it offers consumers and businesses crypto and traditional fiat currency accounts for domestic and international payments. Wirex launched the world’s first Visa card that allows users to convert and spend cryptocurrencies wherever Visa is accepted, and the company now supports 9 cryptocurrencies and 10 traditional currencies, boasts over 2 million users and has processed more than US$ 2bn of transactions. In our latest press release from Wirex, plans of launching 26 fiat-backed stablecoins using Stellar technology have been revealed. You can read all about the news here, but for now, let’s dive in.
by Emil Sterndorff, CEO of Altcoin Magazine
This interview originally appeared on Altcoin Magazine.
So, Pavel, I’m really curious about what leads a man to create what you have created– a product that is loved by 2,000,000+, and supporting 300 employees in their own journeys. What was your background before Wirex? It’s 2M+ customers in 130+ countries, actually! I started my career in 2002, 12 years later, I worked in top-tier investment banks in London: Morgan Stanley, Barclays Capital, Credit Suisse, etc. Primarily, I helped banks build trading platform and algo-trading strategies. I have always dreamed of building a tech company.
What led you to start Wirex? Did you experience a ‘Eureka!’ moment like I did personally when I sent a $300 express transfer via my local bank and paid $60 in fees? What’s the story? I’ve read about Bitcoin on the internet, I think it was on Reddit, being quite technical it was very easy for me to see the potential of blockchain technology. At that time, the price of bitcoin $200. Bitcoin is used in trading as a currency or commodity, so my trading background was quite handy. The main reason why I was interested in bitcoin was the fact that I love the technology and I was looking for the next challenge in my career. The thing I liked the most was that in 2014 Bitcoin was only for tech people, you had to install tons of different wallets, download blockchain, check if it works or not — i t was a great time, and I knew it was something I wanted to explore further.
PAvel Patveev (left) is the CEO of Wirex.
Thanks, Pavel. Now, let’s talk about Wirex. On Altcoin Magazine we’ve previously covered your product via a review, but much has happened since then, including a rebrand. For those who might not know Wirex, can you tell us what you are? Wirex was founded in 2014, back in the days when Bitcoin was purely for geeks. It was not a user-friendly system at all, so on one of our main goals was to make using it simple, easy, and accessible to everyone. The second goal was to use it in payments for transferring value. We launched our first product — a Bitcoin-supported debit card — in 2015, way before other companies started looking into this space (note: Wirex was the first company in the world to launch crypto debit card). In short, the ultimate goal was to make crypto an easy and convenient payment instrument. Wirex is a London-based Fintech company. We currently have a team of 300+ people located in London, Tokyo, Singapore, Toronto, Atlanta, and Kiev. We are not an ICO company but instead are backed by SBI Group/ Softbank. Our main mission is to provide a genuine alternative to conventional financial institutions, by connecting traditional and new digital ecosystems on one borderless payment platform.
You call Wirex a payment provider, but you also supply banking solutions for businesses, and I think this is where it gets really interesting! Awesome! In a call prior to the inverview, you mentioned that Wirex is not an ICO, but you mentioned to me that this was actually an option you had thought of. Why did you decide to stick to the old-fashion business plan, and why do you think you managed to succeed to this expend without the need of an ICO? How would things have looked if you did do the ICO? When ICO hype kicked off, there were a lot of scammers and people who were looking to make quick money rather than doing business. It was tempting to raise money via an initial coin offering, but we decided that we DON’T want to be associated with this part of the crypto industry. Instead, we decided to focus on building the platform, growing our team and obtaining licenses. In retrospect, it was the right decision, being backed up helped us get our bin sponsor and be one of the crypto-supported debit cards to re-launch after WaveCrest operations were shut down by Visa. It really helped to demonstrate our credibility to the Financial Conduct Authority.
On the call we had the other day, you mentioned that most “disruptive” banks nowadays are still just old banks with a new paint job, but right from the beginning, you wanted to reinvent the bank by introducing, and giving the people and businesses the opportunity to utilize both fiat and cryptocurrencies as they wish. Am I right? We have always positioned Wirex as a payment company and we’ve always focused on the huge potential of digital assets being used in payments. Put simply, payments is our focus — not trading or investment. While I am certain that digital/crypto payments are the future, the industry is still in its infancy and currently suffers from poor adoption and a lack of integration with existing financial infrastructure. That’s why we believe the first step toward mass adoption is bridging the gap between digital and conventional payments. Our Wirex Visa cards allow you to spend digital currencies in 40M+ merchants around the world and our platform lets you use Wirex like your normal bank. People often ask me how Wirex is different from other challenger banks. I usually use the apocryphal Henry Ford quote to explain the difference: “If I had asked people what they wanted, they would have said faster horses (better banking).” Existing challenger banks are trying to create a better banking experience by streamlining and improving conventional finance rails. I believe this is a dead-end — you can’t create better banking by using legacy infrastructure, you can’t make banks open on the weekend and you can’t make SWIFT faster and cheaper. Going back to Ford’s quote, all these challenger banks are doing is making a faster horse. Wirex, on the other hand, has created a payment platform for a token economy from scratch. We believe that all payments will be digital very soon and are building the eco-system to accommodate this. We are building the car, NOT a faster horse.
I love that, and I agree. There are way too many “disruptive banks” that is just an old bank with a new paint job. Surely, to make banking better, it needs to be reinvented. Wirex came about in 2014, a couple of years prior to the 2017 bull market, so to say. Being a completely new type of business in an industry that is not even certain to become widely adopted, what struggles did you go through, and then when the bull market arrived, how did that affect Wirex? The bull market of 2017 is not the first bull market we’ve seen; we don’t think it’s the last either. One of the struggles we faced last year was the overwhelming noise from ICO companies who valued aggressive PR and marketing over a working product. Companies promised customers the world without being able to deliver — even as a reputable firm with a revolutionary product, it was difficult to be heard through the din. Now the hype is over. ICO companies are dead or dying and we are one of a few players on the market getting ready for the next bull run. We’ve been in the so-called crypto winter for about a year and a quarter if you ask me. What’s your take on the downtrend, and why might it even be an important cycle to go through? The crypto-winter is healthy for the industry. It has cleared the market of dead wood and allowed space for innovative companies to thrive. Totally agree, and I also think this is what makes Wirex stand out — you know, one of Wirex’s core values is to use crypto beyond trading and speculation, and that leads me to wanting to ask– Do you think most projects are handling crypto the wrong way, and what should be their focus, in order to achieve adoption rather than being a speculative asset? Well, 99% of companies focus on trading and speculation because it’s much easier. In order to achieve mass-adoption, companies must concentrate on solving real-life problems — n ot crypto-gambling.
Indeed. Crypto is just small fish in the big world economy and I too believe that crypto shouldn’t be developed to solve crypto related problems, but if projects and companies solve real world problems with the use of crypto or blockchain, then that will be the driving factor for success. Now, can you expand a little on the businessbanking side of Wirex? Why do businesses like us need it? Oh, and FYI, people, Altcoin Hub, Inc. is on the waiting list for their business solution. Getting access to a bank account is a challenge for all crypto/blockchain companies. Traditional banks have turned their backs on it and frequently refuse access to these type of companies. Individuals have even had their accounts frozen on suspicion of being involved in the crypto-related activity. However, businesses still need some sort of bank account to be able to conduct daily business transactions. We already provided an alternative to traditional banking with our personal accounts. We quickly realised that some customers were using their accounts for business purposes. Our goal is to provide choice and flexibility in payments to our customers, individual or businesses. So we launched our business account. With Wirex business companies can have FIAT and Crypto accounts in one place + OTC exchange rates for any currency pair.
Now, knowing some of your favorite topics, I figured we’d dive into them as well. When it comes to payments, crypto is a phenomenal solution due to its peer to peer nature, low costs, and short transaction times, but not many have managed to allow crypto payments to be a natural part of life. What’s your take on this? Digital peer-to-peer (P2P) payments are the future, but adoption takes time. As more and more companies focus on real-life use cases (not trading), we will see increasing numbers of people using it for payments. Once we reach a critical mass, P2P payments will be everywhere. Imagine PayPal payments on a global scale and now fees… What’s your take on stablecoins? Personally, I see them as a great steppingstone to broader adoption of crypto, but the current solutions have their problems and limitations. Where do you see stablecoins being used in the near future, and how exactly will it play out for them? Personally, I believe stablecoins will change the payment landscape very soon. They are not volatile, they fall under existing e-money regulation and don’t require local liquidity providers to convert them back into fiat currency. I believe that stablecoins will be used as payment rails for cross-border payments and Machine-to-Machine (M2M) transactions.
Oh, and in a recent press release from you guys that we published in our magazine, we revealed your plans of adding 26 Stellar-based stablecoins to Wirex. Can you expand on this? Why is this critical and beneficial for users and businesses? Stablecoins have the potential to transform international remittance. For a start, they combine the speed and cost of cryptocurrency transfers with the market stability of fiat currency. Traditional banking remittance can be expensive and timeconsuming and does not reflect the 24/7, 365 days-per-year live economy that consumers have come to expect. Fiatbacked stable coins also fall under existing e-money regulation — e .g. in Japan, where cryptocurrencies are regulated, there is no need to obtain a Virtual Currency License if your company only deals with fiat-backed tethers. Wirex stablecoins will be available to every one of our 2M+ retail and 5K corporate customers across more than 130 countries worldwide. So who stands to benefit, you may ask? 1. Retail customers — Stablecoins are a costeffective and efficient way to move funds across the globe and we expect a large volume of retail customers to use stablecoins for sending money to their friends and families around the world. These stablecoins can then be spent using Wirex Visa card, redeemed into bank accounts or spent directly with merchants who accept fiat-backed tethers. 2. SMEs — B usinesses will use Wirex stablecoins to pay international suppliers, manage FX exposure and pay salaries — particularly if a company’s employee base is distributed across several countries or regions. 3. Merchants — E very merchant that accepts Wirex stablecoins will benefit from zero fees (a 3–5% saving on existing Visa/Mastercard charges) and instant settlements. Wirex stablecoin tokens are available immediately, whereas Visa and Mastercard can lock funds for 2–4 weeks — a nightmare for small and medium companies.
Awesome, Pavel. I’ll make sure our employees are paid via your platform, it sure does seem like the most optimal solution — especially since we’ve got employees wanting payment in anything from ETH to USD to BTC. So when it comes to market trends, a lot of things are currently going on. On one corner, we got STOs allowing regulated tokenization of everything, and in the other corner, we have the Lightning Network allowing for lightning fast payments with close to zero fees. What’re your thoughts on the two, and what other market trends come to mind that we haven’t talked about yet? I would probably say that there are two main trends developing right now: 1. Market consolidation– As the crypto winter continues, many companies struggle to generate revenue or gain initial traction, so other bigger companies (mainly exchanges), buy them. You’ve probably read about Coinbase and other exchanges investing in or buying-out smaller tech startups. 2. Stablecoins– There are around 50 different stablecoins available right now, but we will see another 50–100 this year. Another emerging trend is those big players like Facebook, JP Morgan, etc. are moving to this space, so I am sure that we will see more non-trading use cases very soon. I think STO is an excellent example of tokenisation trend, it is easier to raise funds and attract investors for companies issuing STO. One of the challenges is that there is not that many regulated platforms trading STO, but I expect this number will be growing with the time and STO will be more popular in the future. Lighting network is an excellent tool to improve speed and scalability of Bitcoin protocol, as the number for lighting nodes grow, we will see more companies accepting Bitcoin as payment/settlement instrument.
Thanks, Pavel. I love your inseight in the topics above. So I’d like to finish off with some pieces of advice from you, who has proven to make it in this industry. What’s your definition of success, especially within crypto and blockchain? It depends. Success means different things for different people. It could be revenue, the number of customers, or the amount of raised funds. For Wirex, it‘s all about the number of happy customers. As this number keeps growing, I am more and more confident that we are doing the right thing. Success is also for me building an environment where Wirex’s employees can innovate, share ideas and build a product together. Thank you. Can you give three pieces of advice to anyone reading this, who might be starting their own business in this industry? 1. Building and running a company is not for everyone — i t requires a lot of effort and will be extremely challenging, so dedication and hard work are key! 2. Choose the right partners. Remember that senior management must complement each other skill-wise and in terms of personality. 3. Build your company culture from day one. Culture is often overlooked, but it’s extremely important. A team with the right attitude and culture can achieve the impossible. Lastly, what are you most grateful for lately? I am grateful to work with such amazing people in the Wirex team. Thank you, Pavel. I think that was all for now. It’s been an absolute pleasure to catching up with you again, and I think this just might have been one of the most valuable interviews we’ve conducted. So where can we follow Wirex online, sign up for the personal or business account, or in other ways help Wirex? Thanks, you can do so online at https://wirexapp.com, download the app on the Apple App Store, or get it on Google Play.