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Archive for Cryptocurrency

Archive for Cryptocurrency

Matthew Poll Scam or Scams to Watch For When Trading Cryptocurrency (GUEST POST)

April 14, 2021 by tradersolution

Utah entrepreneur Matthew Poll was recently interviewed regarding cryptocurrency. More specifically, he was asked about cryptocurrency scams and what day traders should be watching for when trading it.

To watch the interview, click play on the video below titled Matthew Poll Scam or Scams to Watch For When Trading:

Matthew Poll Scam or Scams to Watch For When Trading Cryptocurrency TRANSCRIPT:

IS DAY TRADING CRYPTOCURRENCY A SCAM?

“It’s like yes and no, you know, it’s there’s not a direct answer to that. And what I mean by that is it cryptocurrency is so new. It’s this industry that some people are saying it’s gonna be the it’s the future, you know, and what’s happening right now isn’t like a once in a lifetime opportunity like this is a once in a existence opportunity that’s happening.

And so when you have something like that that’s got so much momentum, I mean we just hit, for example, we just hit over a $2 trillion market cap in crypto by itself, which is insane money.

So to say like, Is it a scam? Well, no $2 trillion coming from banks and investment firms and individuals wouldn’t be putting their money into something on that level if it was a scam. But are there people who because of all the hype, taking advantage of people that don’t know like, what’s going on? Absolutely, absolutely.

What to Look For

So there’s a lot of things that you want to look out for to avoid any scams. I don’t know if they’re particular to the state of Utah, or out in or outside of the state of Utah, but you mix day trading, and crypto. And you’re likely going to find someone out there who’s falsifying claims, taking money from individuals and trading it, maybe not getting registered properly. Or even running a Ponzi. Right, just an outright Ponzi.

And it’s not the industry, it’s the people. It’s not necessarily the vehicle. It’s if there’s money there, and there’s hype, there’s always going to be someone with a black cloak that comes in and abuses it. And unfortunately, you know, you’ve got to look out for that stuff. Because there’s a lot of good when it comes to cryptocurrency. And you just don’t want to get stuck in a scam, I mean, because they do exist for sure.”

WHAT OTHER SCAMS SHOULD CRYPTO TRADERS WATCH FOR?

“The one I would look out for the most the ones I hear about the most often is your lack of transparency and what’s happening. Like I would say, that’s the biggest way people get scammed anything, is they go on trust, or they go on feelings, or they go on some intuition, you know, something that’s just not factual, and they’re just not seeing the picture.

So the things I would look out for around day trading, and scams would be like giving your money to someone blindly. And not actually seeing the transactions that are happening. Not actually being verified return statements. And just trusting that like something that handed you is actually real, when in fact, they could be falsified.

It could, I mean, I hear stories about people that come to us all the time, who they’d given 10s of 1000s of dollars to someone only to find out that they weren’t even trading it, they weren’t even day trading it the whole time. And so it’s like, yes, that’s gonna be a scam, that’s gonna leave you in a bad position. But ultimately, that person’s gonna get caught.

Violation of the Law

Also, they’re ultimately going to be in violation of the law, they’re gonna get caught at some point, a lot of times, we call these ponzis. And you just don’t want to get stuck in the middle of that. Because ultimately, you’re just, I want to call it donating. But you’re, you’re just, you’re just giving your money away at that point.

So transparency would be the biggest thing I look for in anything that has to do with day trading. Transparency, testing, the more control you have, like, if it’s you day trading, obviously, that’s gonna be safer than someone else do trading for you.

Just because you eliminate that risk, you eliminate the risk of them running off with your money. Or not trading it at all and never have the trading it. But if at least you’re doing it, you know that risk is gone. And then it’s like, Okay, got it. Well, I’m gonna do my own trading. How do I eliminate any scams that might have been there? Well, the only type of scam that would be happening would probably be one to yourself. But you didn’t take enough time to test your system. You didn’t take enough time to like back tradee. Or actually verify that like what you’re doing was going to make sense.

Don’t Call It a Scam

Or I don’t even know if you’d call it a scam, but it’s just really just a bad practice. Like you just go in too hard, too heavy on intuition or a whim, rather than starting light, you know. And just doing a little amount you know, $1,000 versus 100,000 to test it. And to see if it’s actually going to work.

Whereas so many people, I want to say scam themselves by just going in too hard, too heavy in the in specifically with day trading. And a lot of the factors that motivate those decisions are class. Like they get too heavy in their investment in costs. Or they get, you know, maybe they spend a bunch of money in education. And they feel this force, like, oh, I’ve got to make that back every day. Or I’ve got to like, cover this old thing that happened in the past.

And it’s like, that motivation, will scam yourself into breaking your own rules, breaking things that are high, much higher and risk than something that you could easily have tested for $10. The now you invested 100,000. And why? Only they experienced more risk, right?”


Filed Under: Cryptocurrency, Featured Story Tagged With: Matt Poll, matt poll day trading, Matt Poll Scam, matt poll trading, Matthew Poll, Matthew Poll Day Trading, Matthew Poll Scam, matthew poll trading

Dogecoin Makes it Big for the Little Guys

February 19, 2021 by Day Trade Feed

by: Kathryn Jones

January 29, 2021, may just be a date never to be forgotten in day trading. A cryptocurrency surge of more than 800 percent occurred in just twenty-four hours. No mistake. With the run-up of GameStop stock and Dogecoin crypto, investors were swarming for a taste of the sweet nectar.

The boost soared after the social media group, WallStreetBets “managed to drive the share price of video game retailer GameStop from US $20 to $350 in mere days” (Channelnewsasia.com). In short, when WallStreetBets, a Reddit social media group, rallied their followers to buy-in, they did.

CNN Business reports that at least one Reddit user “paid off thousands of dollars in student loans with his GameStop gains.” In short, by coordinating their efforts to drive up the share price of companies who are struggling, many investors garnered more than a few bucks.

Roaring Kitty, a Reddit user whose real name is Keith Gill, attracted a lot of interest in his post “depicting a single $53,000 investment in the video-game retailer GameStop” according to NYTimes.com. Though some seeing his post laughed at his investment, Gill continued to post. During the next year, he tweeted about GameStop, produced videos on the topic, and began to Livestream his financial ideas. Interested readers became followers. And followers placed their bets.

According to some, Dogecoin may just be the next bitcoin for the “little guy”. For the first time since the Dogecoin was launched in 2013 as a Bitcoin, cryptocurrency, which has outlived “almost all the early derivative altcoins” (NewsAsia.com) makes real ‘cents’ for more than just the Wall Street investors and their hedge funds.

Those in social media Reddit or YouTube groups who use free trading platforms like Robinhood or WeBull, and gather together as one in their various arm-chairs to day trade, might just make it as the next millionaires. At the very least, they’ll be able to shave off some unwanted debt.

Filed Under: Cryptocurrency, DayTradeFEED Investigates, Featured Story, Uncategorized Tagged With: crypto, cyrptocurrency, doge, dogecoin, gamestop

Should You Be Day Trading Ethereum?

July 25, 2018 by tradersolution

Should I Be Day Trading Ethereum?

Disclaimer: Day Trading Ethereum

First of all, let me just remind everyone that day trading Ethereum is something many people are already doing. However, every and all cryptocurrency markets are extremely fragile, and should be treated as so by day traders.

Now that that’s been said, let’s talk a little bit about day trading Ethereum, and why many investors think the new cryptocurrency will fail.


Is Day Trading Ethereum a Bad Idea?

As it stands now, Ethereum is the second largest cryptocurrency platform available today. Unfortunately, being ranked as such doesn’t protect you from the ups and downs that are the cryptocurrency markets. For example, Ethereum’s value dropped nearly 36 percent in the past year.

Many think this recent drop has hit it’s low point, and will begin to start climbing again any day now. However, many experts believe this currency has more room to fall, and will do so in the coming months.


What Experts Are Saying About Day Trading Ethereum

Above, we mentioned experts who believe Ethereum will continue to fall in the coming months. Among them is New York-based Tetras Capital, who has been taking short trades on Ethereum since May of 2018.

Last week, Tetras Capital even released a 41-page analysis report on Ethereum and why taking short trades is the right answer for traders.

Other experts shorting Ethereum include Timothy Young, former entrepreneur who made more than $100 million when he sold the company Socialcast in 2011.

“Ethereum has an incredible talent pool of developers,” Young said. “In the long term, I think they’ll solve a lot of scaling challenges. But in the short term, there’s a disconnect between the price and underlying technology.”

Neural Capital is also holding its short position moving forward.


Why The Negative Feelings?

Each of these different capital firms are betting against Ethereum. As we look at their reasoning, it becomes more and more clear that there are specific reasons behind the decision.

For example, Ethereum can only handle around 15 transactions per second. In contrast, Visa can handle more than 24,000 transactions per second.

“Just because something is a good idea doesn’t mean it’s a good investment,” said Tetras Capital founding partner Alex Sunnarborg.


Day Trading Ethereum – Our Conclusion

In conclusion, we here at Day Trade FEED believe you SHOULD be day trading Ethereum, just as long as you keep holding onto that short position. Ethereum seems like it’s heading downhill, so a short position (similar to that of the firms mentioned above) should be incredibly profitable as the market continues trending downward.


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Filed Under: Cryptocurrency Tagged With: day trade, day trade feed, day trading, Day Trading Bitcoin, day trading ethereum, ethereum, Kevin Jones, kevin jones day trade, kevin jones trading, learn to day trade, make money day trading, should i day trade, stock market, usd, virtual currency

Will the Price of Bitcoin Double in the Next Year?

June 8, 2018 by tradersolution

Day Trading Bitcoin | DayTradeFEED.com

Will Bitcoin’s Price Double by the End of 2018?

Despite recent price stalls, several cryptocurrency experts believe Bitcoin will double in value by the end of 2018. The report from Independant.co.uk is great news for those day trading Bitcoin, as there is sure to be significant market volatility in the coming months.

“I believe bitcoin’s price will continue to fluctuate between $6,500 and $8,500 in the coming weeks,” David Hanson, a blockchain expert and CEO of the gaming platform Ultra, told The Independent. “In the medium-to-long term, bitcoin’s value should go up, as big institutions enter the crypto space in a bid to gain first-mover advantage, further legitimising the market.”

Day Trading Bitcoin After Its Fall

Bitcoin was valued at more than $19,000 in December 2017. In the half year since, owners, investors and those interested in day trading Bitcoin watched its value drop like the Hindenburg. The most recent data shows Bitcoin’s current value at just around or under (depending on who you talk to) $7,700.

During this time, many cryptocurrencies hit the market, which sent each of their respective values through significant peaks and valleys. The dust is still settling, but look for the Bitcoin market to seem stagnant in the near future.

As time moves on, however, look for that market to trend up and up some more. Be patient! You should then be able to ride that up trend for awhile.

New Regulation around Day Trading Bitcoin?

Bitcoin and its nose dive (see above) was caused by a variety of events. First of all, there is almost zero regulation around these cryptocurrencies as it currently stands.

Because of this, recent law making sessions have seen an increased focus on this new area of the economy. Due to these sessions, many owners, investors and those day trading Bitcoin have seemed to shy away from the market. This wasn’t good for the all around vibe surrounding Bitcoin, which caused the price to drop.

In addition, a spike in governments seizing Bitcoin and other cryptocurrency for legal matters is causing some concern. Noteworthy cases include the recent MtGox case, where Bitcoin was taken and sold on different exchanges.

Want to Learn More About Day Trading Bitcoin?

Contact Us to learn more about day trading bitcoin, day trading forex or any other possible market!

Filed Under: Cryptocurrency Tagged With: bitcoin, Bitcoin Value, cryptocurrency, day trading, Day Trading Bitcoin, daytradefeed.com, Independent.co.uk, Learn to Day Trade Bitcoin, Learn to Day Trading, The Independent

Cryptocurrency Tax Law Update | DayTradeFEED.com

May 15, 2018 by DayTrade FEED

Are governments considering cryptocurrency business tax breaks?

The media focused on blockchain-based cryptocurrency at the end of 2017. This will continue in 2018 as Ethereum and Bitcoin are now more than recognizable words.

Little regulation is part of what led to this explosion of awareness. If holding value and avoiding market up/down-ticks is the end goal, correction is necessary.

CLICK HERE to learn more about Bitcoin, Ethereum and other types of virtual currency.

How do governments tax cryptocurrency?

Governments have created a wide variety of taxation policy worldwide so laws may vary depending on location.

Property taxes apply to all virtual currencies in the United States so the IRS regulates this.

Commodity taxes apply in Canada so exchange requires a capital gains tax.

These taxes help cryptocurrency owners who keep their investment for more than one year. Owners pay less tax because of policies surrounding long and short-term capital gains/loss.

Cryptocurrency taxation in the United Kingdom and EU

VAT tax laws were applied to virtual currency until 2014 in the UK, when virtual currencies began being taxed like currency instead of property.

“The value of the supply of goods or services on which VAT is due will be the sterling value of the cryptocurrency at the point the transaction takes place.” said a representative from the HMRC in a statement.

Visit DayTradeFEED.com to learn more about Bitcoin and other types of virtual currency.

Filed Under: Cryptocurrency Tagged With: bitcoin, buy bitcoin, cryptocurrency, day trade, day trade feed, day trading, daytradefeed.com, ethereum, feed, sell bitcoin, virtual currency

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