Trading the cryptocurrencies Bitcoin,Etherium, Litecoin etc....

Very Useful information for crypto traders:
*********************************
In this post I will mention some of the useful information for cryptotraders regarding forex brokers who offer crypto trading, crypto exchanges, mobile wallets, hard wallets etc.

1.Forex brokers offering crypto trading:
--------------------------------------------------
Dukascopy, IC Markets, Pepperstone, Forex4you,FxChoice,Tradersway, FxOpen.

There can be many more brokers, but I am posting only these brokers based on my personal experience considering reliability in terms of deposit and withdrawal and trading transparency etc. Also, for institutional traders LMAX seems to offer crypto in coming months.

However, for cryptotrading it is not wise to trade crypto in a forex broker, because many forex brokers receive liquidity from crypto exchanges. Hence, I am mentioning some reliable crypto exchanges.

2.Crypto exchanges:
------------------------
Binance, coinbase, coinmama.

3.Mobile wallets:
----------------------
Blockchain.info, coinome, mycellium

If you want to use crypto for daily usage from your mobile, then 'coinome' mobile wallet is my favourite so far. Or you can use mycelium which I have not used yet.

4.Hard wallet:
-------------------
Ledger Nano S, Trezor...I prefer to use Ledger Nano S

IMPORTANT NOTE:-
***************
I would like to clarify that I don't have any partnership with any of the above companies and this post is not for any advertisement purpose. All the information which I provided here are my independent opinions and are based on my own experience of use for many years. Me and my clients have been personally using the services for many years. However, just because I say it, please don't put your money in any of the brokers, exchanges or wallets without proper research and analysis of your own.

Hello leo, what’s your current observation? I am really interested to know more from you. Thanks in advance.

Adribaasmet posted:
Hello leo, what’s your current observation? I am really interested to know more from you. Thanks in advance.

There are many fundamental ground work is going on for trillions of dollars to flow into the crypto market. Few things have been already implemented even without my notice and few things are coming in next few months.

Last year when I said the crypto market capital will reach 5 to 7 trillion USD within next 1 year, that was based on my pure observation without much knowledge about the fundamental source as from where and how these trillions will come. Now, these ground works are being done like many crypto funds are coming and some of them are probably implemented which I don't have the names for now.

Also, very soon Bitcoin ETFs are probably going to come which will allow trillions to flow easily to the market. As I said earlier few times, trillions will not come into the market without regulations. So now many countries like India, china and Russia are doing the ground work to bring certain regulations which will actually legalise the crypto trading in a country and in other words, when a country legalises then even if few hundred USD comes from each user, then trillions of USD are bound to come similar to forex market where 95% traders loose money, but still people come to trade forex.

Now, comparing the market capital of crypto which is oscillating around and below 300 BILLION USD with the market capital of forex which is around 100 TRILLION to 200 TRILLION we can expect at least 100 to 200 times market capital increase in coming 5 to 6 years and at least 15 to 20 times increase within next 6 to 8 months or within 1 year.

Many Forex brokers are smart enough to foresee the coming future that they might go bankrupt if they don't offer crypto trading because cryptos are the future of finance and hence, they are implementing crypto into their platform which will provide huge liquidity to the crypto market.

Many so called as crypto market analysts have no clue about the forex brokers implementing crypto in mt4 platforms and so they don't understand why the market increases or decreases sharply which is bound to happen because many forex brokers like Dukascopy, IC Markets, Pepperstone have crypto available for trading and few billions of pumping and dumping is very much possible in forex. Because in forex we have 5 trillion USD of daily transaction volume, but in crypto hardly it is 20 BILLION USD per Day.

Now, the market is still in confused state which was created last year due to the pump and dump happened after the launch of Bitcoin CFDs. So BTC price quickly increased from 5600 to 19000 within less than a month which was a clear sign of pump and bound to dump which happened later this year.

As I said multiple times, it created a false sense of Bitcoin price crash which was probably a conspiracy by banks and governments to keep the regular traders away from crypto trading where the new crpto traders don't understand that it was pumped in short time due to hype and hence, it was bound to dump. But due to this false sense of crash general public who purchased BTC at 15K or 18K, many of them probably sold out at loss and some of them are despondent to spread fear among other investors. So the market is just oscillating in that range.

So until some of the major ground work is done which I am talking about and few institutional investors come to break the price levels like 10K , 15K and 20K, the regular investors may still be in confused state. Anyway, regular traders will have very less impact on the market once the market capital crosses few trillion USD. So this is like a golden opportunity for crypto long term holders to buy and hold cryptos at this time.

Finally,there is no guarantee that crypto will not go any lower. Cryptos and Bitcoin prices can go any low price because it's just a regular analysis of mine and crypto is a free market and hence, anyone can decide to exit or enter the market at anytime which is not possible with fiat money and this is one of the biggest advantage of using cryptos.

What are your thoughts on any specific crypto? Especially recent ICOs?

SpacePower posted:
What are your thoughts on any specific crypto? Especially recent ICOs?

I personally don't recommend any ICO to anyone and don't follow or study any ICO also and at least not for now. Rather I focus more on stable coins after they pass through the initial phase of volatility and sustain their value for some period of time.

It's because in my perspective until someone has direct contact with the developer team like friends in the developer team of a an ICO, then it is always risky to invest in any ICO. Since it is very likely to be a scam or even if it is a genuine project, then also it is very difficult to survive the initial phase. If it survives, then also it is easy to get the coins at low price on the day of launch since many people who might have bought coins from ICO usually dump on that day.

Those people who want to make money quickly by putting money in and out within short period of time generally prefer to invest in ICOs. But in this thread I mainly focus on discussing cryptos in order to create an awareness among general people to make them realise that within next couple of years may be around 5 to 6 years, entire fiat money will be almost replaced by crypto currencies so that the general public will be prepared well ahead in time and hence, I focus on discussing more stable coins like Bitcoin, Etherium etc. I will give a list at the end of this post.

I mean after 2 to 3 years if someone having 2 to 3 Bitcoins will be probably more rich than a multi-millionaire who have only fiat money, because Bitcoin(BTC) will probably settle at a price of around 2 MILLION USD per BTC or more within next 2 to 3 years. Or it is also possible that entire fiat money like USD, EUR,GBP may simply go towards zero value so a multi-millionaire or billionaire only in fiat may be worth nothing after 5 to 6 years. Why I am saying this is because almost no merchant will be accepting any fiat money for daily usage and so for daily usage people have to use crypto without any choice and in that case, fiat money may go to zero.

Here is a list of long term coins to hold:
*******************************
1.Cardano(ADA)
2.ICON(ICX)
3.Nano(NANO)
4.Binance coin(BNB)
5.EOS(EOS)
6.Neo(NEO)

NOTE:
*****
But these coins are not for quick investment and cash out. These are for long term investment and to make them a part of the investment portfolio. But I am not a financial adviser and hence, everyone must do his own research before investing in any coin.

Excellent News for cryptotraders:
**************************
Finally, one of the biggest institutional forex brokers LMAX has started offering crypto trading in it's platform. I already mentioned regarding this in my previous posts, but just came to know about the launch has been done and hence, thought to give an update to everyone.

Though I don't think that there will be many institutional investors in myfxbook, but if you are an experienced and institutional investor in forex and understand the potential of cryptos and want to invest in cryptos, then you know that it is definitely a big news for you.

For me it is bigger news than launch of a Bitcoin ETF, because it is clearing up the long term paths for the future of cryptos and can provide deep liquidity as well as huge market growth of cryptos since the bridge between forex and crypto markets are buiiding . Now, very soon we can expect other institutional forex brokers and banks offering crypto CFDs which will open up doors for trillions of dollars to flow into the crypto markets.
 
Of course, the downside of this is that there can be huge volatility on daily basis since trillions of dollars can go in and out from forex to crypto market and vice-versa. So basically we can expect a fight between forex and crypto currencies to compete with each other.In other words, now in the mt4 platform the switch between forex fiat money and crypto money will happen.

leo23 posted:

SpacePower posted:
What are your thoughts on any specific crypto? Especially recent ICOs?

I personally don't recommend any ICO to anyone and don't follow or study any ICO also and at least not for now. Rather I focus more on stable coins after they pass through the initial phase of volatility and sustain their value for some period of time.

It's because in my perspective until someone has direct contact with the developer team like friends in the developer team of a an ICO, then it is always risky to invest in any ICO. Since it is very likely to be a scam or even if it is a genuine project, then also it is very difficult to survive the initial phase. If it survives, then also it is easy to get the coins at low price on the day of launch since many people who might have bought coins from ICO usually dump on that day.

Those people who want to make money quickly by putting money in and out within short period of time generally prefer to invest in ICOs. But in this thread I mainly focus on discussing cryptos in order to create an awareness among general people to make them realise that within next couple of years may be around 5 to 6 years, entire fiat money will be almost replaced by crypto currencies so that the general public will be prepared well ahead in time and hence, I focus on discussing more stable coins like Bitcoin, Etherium etc. I will give a list at the end of this post.

I mean after 2 to 3 years if someone having 2 to 3 Bitcoins will be probably more rich than a multi-millionaire who have only fiat money, because Bitcoin(BTC) will probably settle at a price of around 2 MILLION USD per BTC or more within next 2 to 3 years. Or it is also possible that entire fiat money like USD, EUR,GBP may simply go towards zero value so a multi-millionaire or billionaire only in fiat may be worth nothing after 5 to 6 years. Why I am saying this is because almost no merchant will be accepting any fiat money for daily usage and so for daily usage people have to use crypto without any choice and in that case, fiat money may go to zero.

Here is a list of long term coins to hold:
*******************************
1.Cardano(ADA)
2.ICON(ICX)
3.Nano(NANO)
4.Binance coin(BNB)
5.EOS(EOS)
6.Neo(NEO)

NOTE:
*****
But these coins are not for quick investment and cash out. These are for long term investment and to make them a part of the investment portfolio. But I am not a financial adviser and hence, everyone must do his own research before investing in any coin.

Good piece of information, thanks for sharing.

There are many things which I discussed long back in this thread and in my other thread which are in discussion now among the crypto community and hence, I thought to repeat them again.

1.The last price swing from 5800 USD to 19,500 USD and back from 19,500 USD to 5800 USD was a conspiracy by the banks and governments to create a false sense of crypto market crash to keep the regular traders and investors away from investing in crypto.

2. Governments and banks are trying in every possible way to spread false news in order to make the regular trader panic sell the cryptos so that they can buy the cryptos at a better rate. They did the same thing when last year JP Morgan CEO JM Daemon told bitcoin as a fraud and after the dip, JP Morgan only bought millions of dollars of Bitcoins. There are many more examples which are not in public. So every individual long term investor must stay away from such conspiracy as not to sell their cryptos to the elite group at low price, because they are going to benefit from this.

3.By now even if a fool is aware that cryptos are going to stay here for ever and if someone says anything negative about cryptos, then you can be sure that he is an utter idiot and knows nothing about cryptos and finance, because the regular daily users of cryptos will continue to use and the numbers will eventually grow over time and hence, price will naturally grow over time irrespective of whether active investors will trade in and out the crypto money which will have only temporary impact on crypto price.More and more forex brokers will slowly integrate crypto to their platform and hence, more money will start flowing from crypto to forex and vice-versa.

4.The BTC price was around 5800 USD before the CFD launch and that was pumped and dumped intentionally within 1 to 2 months. If the BTC price would have grown normally at normal rate, then the current price would be around 50,000 USD or more which it will go eventually at anytime.

5.Finally, once the institutional platforms like Bitcoin ETFs will be ready, the BTC price can easily shoot up to 100K or 200K within a couple of weeks very similarly it did last time after CFD launch, but I highly suspect that it will probably not dump significantly from those levels. Because retail investors like to pump and dump, but generally institutional investors invest in assets as a part of their portfolio and not for pump and dump to cash out and make money quickly.

Few useful information for this week regarding crypto:
******************************************
1. Ecommerce integration service : Coinbase which is one of the biggest crypto exchanges has now started offering his own ecommerce crypto integration service to businesses. This is a very good news for online entrepreneurs and small and large business to operate internationally irrespective of whichever country they are operating from. Also, it is a huge step towards daily crypto usage and adoption, because once few entrepreneurs start accepting cryptos and see the advantage of crypto over fiat, then it will be wide spread like fire in no time and fiat will be useless in no time since less and less businesses will accept fiat over time for online payment.

2. Coinbase institutional client service: Also, coinbase has started offering special trading services for institutional clients. It is also a big news for overall crypto growth.But point no. 1 is more important for crypto growth as well as for benefit of everyone.

3. Blackrock asset management: One of the biggest asset management firm which manages around 6.3 Trillion USD of net assets are showing interest in cryptos for investment.

NOTE: I don't have any partnership with any company and the above information are my independent opinion based on my research and it doesn't promote any form of advise to invest in any crypto or company.

leo23 posted:
Few useful information for this week regarding crypto:
******************************************
1. Ecommerce integration service : Coinbase which is one of the biggest crypto exchanges has now started offering his own ecommerce crypto integration service to businesses. This is a very good news for online entrepreneurs and small and large business to operate internationally irrespective of whichever country they are operating from. Also, it is a huge step towards daily crypto usage and adoption, because once few entrepreneurs start accepting cryptos and see the advantage of crypto over fiat, then it will be wide spread like fire in no time and fiat will be useless in no time since less and less businesses will accept fiat over time for online payment.

2. Coinbase institutional client service: Also, coinbase has started offering special trading services for institutional clients. It is also a big news for overall crypto growth.But point no. 1 is more important for crypto growth as well as for benefit of everyone.

3. Blackrock asset management: One of the biggest asset management firm which manages around 6.3 Trillion USD of net assets are showing interest in cryptos for investment.

NOTE: I don't have any partnership with any company and the above information are my independent opinion based on my research and it doesn't promote any form of advise to invest in any crypto or company.

Thanks again leo; yes now I am going research of these points! You are the crypto master.

leo23 - what is your professional / crypto background? You seem to reall know youy stuff

GreatGame posted:
leo23 - what is your professional / crypto background? You seem to reall know youy stuff

I don't have any official educational background on crypto or finance or investing etc. I am neither an active investor or trader in crypto as well.

But I am an active user of Bitcoin for payments from the early stages of Bitcoin development when I didn't even know what Bitcoin was and I never bothered to even check the price of Bitcoin while accepting payment. I am talking about years probably between 2011 and 2012 from which I started using Bitcoin.

The BTC price came to my notice when it reached around 200 USD and before that I was using Bitcoin price probably between 10 USD to 100 USD per BTC.

So roughly I have seen BTC price from 10 USD 100 USD, 100 USD to 1000 USD and finally, 1000 USD to 10,000 USD when actually I created this thread in myfxbook and predicted the BTC price ahead in time when it was around 2500 USD.

I know BTC price will go to 100,000 USD very soon and reach 1 Million USD later on and probably settle around 2 to 3 Million USD within next 5 to 6 years by which entire fiat money will be converted to crypto and there will be 90% crypto transactions and hardly 10% fiat transactions.

I mean the switch of fiat to crypto of total amount of 100 TRILLION to 200 TRILLION USD will happen in coming few years.

I expect at lest 100K per BTC by end of this year and as high as 200K per BTC, but I will not feel guilty if I am wrong in my prediction, because it is my opinion and not any financial advice to anyone to buy or sell cryptos. Because overall I know where the cryptos will lead to and if I am wrong by few months back or forth I don't mind.

For example, last year I expected and predicted the price in this thread to be maximum 10K when it was around 3000 USD and never expected to hit as high as 19.5 K, but it actually hit 19.5 K and later on I predicted the price to go further, but it went to a period of bearish trend and so it is never 100% accurate.

By saying this I want to clarify that I am not holding large chunk of Bitcoin or any other crypto due to which I am doing such predictions. There are few people who think that way though.

I am doing such predictions based on various fundamental factors considering not only finance, but all other latest technologies where these are heading and their behaviour over time. For last 10 years I have been actively researching on most latest technologies of the times which are about to explode and considering all these I am predicting these value.

Though there are many reasons which I already discussed earlier. But fundamentally 2 reasons:
1.Fiat money is controlled and printed by central banks of each country and hence, it is limited demand, but unlimited supply from central banks by money printing. So naturally the unit value or utility value of each currency unit will tend towards zero when there is infinite supply.That's why there are trillions of dollars of national debt pending to be repaid by most countries governments.

2.Most cryptos are fixed in amount and can't be printed or created from nothing. So there is fixed supply, but growing demand.
Though few people argue on this point by considering hard forks as a way to create money, but the unit value of each original crypto is bound to increase because of fixed supply.

But due to the promising technology of Blockchain behind cryptos, the price of cryptos even explod more rapidly.

Important Update for crypto investors:
******************************
I just noticed that coinbase has launched it's crypto management fund for large investors. For those who don't know that coinbase is one of the biggest crypto exchange operating from USA.

Coinbase seems to grow it's business too fast, because just few days back when I made the post regarding payment gateway integration, then crypto management fund was not there in the website and hence, I guess it was just launched.

Probably, that is one of the reasons for the recent small price increase in BTC. Because the minimum investment is 250K and hence, a couple of big investors can easily influence the price of BTC.

I don't have much information about that. So please do your own research, but it is a good news for US big investors.

NOTE: I don't have any partnership with coinbase or any other company and I am not a financial adviser to advice investing in crypto or any other company. So do your own research before investing.

leo23 posted:
Important Update for crypto investors:
******************************
I just noticed that coinbase has launched it's crypto management fund for large investors. For those who don't know that coinbase is one of the biggest crypto exchange operating from USA.

Coinbase seems to grow it's business too fast, because just few days back when I made the post regarding payment gateway integration, then crypto management fund was not there in the website and hence, I guess it was just launched.

Probably, that is one of the reasons for the recent small price increase in BTC. Because the minimum investment is 250K and hence, a couple of big investors can easily influence the price of BTC.

I don't have much information about that. So please do your own research, but it is a good news for US big investors.

NOTE: I don't have any partnership with coinbase or any other company and I am not a financial adviser to advice investing in crypto or any other company. So do your own research before investing.

Hello leo; may I know your opinion on Buxcoin? maybe I’m going to invest here (around 1000EUR).

@Adribaasmet
I have no idea about Buxcoin and I never heard of it before and so I can't suggest anything on that.

But if you have done your own research, you can go ahead.

But here are my 3 suggestions to assess any crypto for that matter:
1.The crypto must have at least a past history of 1 year and stability in price or growth in price from the date of public launch event and listing in crypto exchanges.
2.The developers of the crypto team must be public figures and active in social media and media explaining the details and goals of the project and getting positive feedback from real traders
3.The coin should be listed in at least one of the well known crypto exchanges like Binance or Bitfinex or something similar who do their due diligence before listing any coin in their platform.

Then the coin can be considered 70% 80% safe to invest for long term investment, but NOT 100% safe.

which broker offers the lowest spread on bitcoin? I see the spread being as high as 20usd which is way to much considering how bitcoin is traded now and days.

Technical analysis suggests Bitcoin to cross 12.5K quickly may be within next few day or weeks. Let's see.

First, let's see if it can close above 8.5K by end of today, then we can expect a quick rise at least to 12.5K next week.

NOTE: Don't buy or sell Bitcoin based on my advice, because I am not a financial adviser and there is no guarantee on future price of a crypto and hence, do you own research before investing in Bitcoin or any crypto.

leo23 posted:
@Adribaasmet
I have no idea about Buxcoin and I never heard of it before and so I can't suggest anything on that.

But if you have done your own research, you can go ahead.

But here are my 3 suggestions to assess any crypto for that matter:
1.The crypto must have at least a past history of 1 year and stability in price or growth in price from the date of public launch event and listing in crypto exchanges.
2.The developers of the crypto team must be public figures and active in social media and media explaining the details and goals of the project and getting positive feedback from real traders
3.The coin should be listed in at least one of the well known crypto exchanges like Binance or Bitfinex or something similar who do their due diligence before listing any coin in their platform.

Then the coin can be considered 70% 80% safe to invest for long term investment, but NOT 100% safe.

Thank you very much leo for your valuable 3 points; I’ll really consider all of these 3 before investing my money.

Bitcoin has already surpassed its long term downtrend line and with its recent rally above 8k the bullish sentiments still look intact. its just a profit booking going on currently that might extend to $7900 maximum and it rather can be a good buying opportunity for those who missed the previous rally. because Bitcoin is going to 10K for sure very soon.