Category Archives: Cryptocurrency

Rakeem Keem Jones| The Fayetteville Observer

Future of money: See how the tech generation invests

Discover why the next generation of investors may be leaning toward NFTs, cryptocurrency and gamification investing.

STAFF VIDEO, USA TODAY

All you need is a laptop, cell phone and a hot spot, raps Crypto Quavo as he drives a Bentley Bentayga around Miami in his video for Crypto Anthem. The song on YouTube features a cameo by Kwame Crypto Kwame Stover.

Crypto Quavo, whose real name is Quavas Hart, hails from Shelby or as he calls it, The Shell.He wants to make cryptocurrency accessible for all. As a father of four, the Army veteran understands the power of sacrifice. He served for 10 years and went on three tours in Afghanistan and Iraq.

More: Rakeem Jones: A survivor of human trafficking shares her story

Before becoming known in the cryptocurrency space,Hart, who is 35, worked asa cinematographer. In 2016, he gained recognition during Hurricane Matthewwhen he used a drone to rescue a man and his dog trapped in theirhome during the flooding. The video was seen by millions, and he was hailed as a hero.

Hart is a graduate of Full Sail University in Winter Park, Florida.Although he shoots in any and all genres, he has worked with hip-hop superstars Future, Busta Rhymes and Gorilla Zoe.

He says being behind the camera giveshim an adrenaline rush. The feeling became a must-have, he writes on his blog.

I remember the first time I got my first million views; the attention it created gave me a great feeling, he wrote.

Harts passions are in full displayon his custom red Chevrolet Corvette C8. He mounted a GoPro camera on the roof and has his signature Crypto Quavo logo on the hood and the doors.

Cryptocurrency, a form of digital currency,is a way of life for Quavas. He was an early advocate.

He entered the space in 2017, starting with Litecoin and Bitcoin. Litecoin was $25 a coin and Bitcoin was $1,500 a coin. Currently, Litecoin is worth $147.95 and Bitcoin is worth a whopping $42,241.80.

Cryptocurrency is emerging as the new way to spend money. Recently, Staples Center was renamed Crypto.com Arena.

More: Rakeem Jones: Fayetteville crypto millionaire teaches the 'marathon mentality' when it comes to creating wealth

However, the average citizen lacks the knowledge or has reservations about investing money into an unregulated currency.

Everyone is on the internet daily; its simple to set up a trading app like Coinbase or Crypto.com so you can invest and start trading crypto, Hart says.

He recommends that newcomers research coins like Bitcoin and Ethereum, since they are the most popular. Furthermore, you cant get into non-fungible tokens, or NFTs, and the metaverse a virtual reality space without knowledge of cryptocurrency.

NFTs are pieces of digital content linked to the blockchain, a shared database that helps makethe crypto market possible. Unlike cryptocurrency, NFTs are not interchangeable, which means no two NFTs are the same. Hart describes NFTs as trading cards that may gain value.'

The first-ever NFT was sold by Christies auction house for $69.3 million. Since then, celebrities like sports starsLeBron James, Stephen Curry and Tom Brady have all created and sold NFTs.

Celebrity-endorsed NFTs come with perks in the metaverse and real life. Mark Zuckerbergs decision to change the name of Facebook to Meta was a telling sign of the future.

However, children have already been living in the metaverse with games such as Roblox and Fortnite. Tech publication Wired describes the term metaverse as a broad shift in how we interact with technology or a digital economy where users can create, buyand sell goods.

Due to the fact that cryptocurrency is not fully regulated just yet, there are no scholastic resources to educate those eager to learn. Like many other crypto millionaires, Hart is self-taught and works to pass on the knowledge.

The more you know, the more you make in the crypto space, he says. "All throughout social media, there are accounts taking advantage of people."

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But he reminds people that he is not a financial advisor. To combat scammers, Hartoffers one-on-one and group classes in-person and online.

In addition, he teams up with Stover for a free community event, Cars and Crypto. To contact Hart about classes or to join his Discord, follow him on all social media platforms @imsofirst.

Salute to Crypto Quavo and every activist getting active. Peace.

Rakeem Keem Jones is a community advocate and father of three from the Shaw Road/Bonnie Doone area of Fayetteville.He can be reached at keemj45@gmail.com.

More:
Rakeem Jones: Army veteran trading cryptocurrency early, wants to share what hes learned - The Fayetteville Observer

As the cryptocurrency wave continues to shape the landscape of tech, athlete and activist LeBron James is putting the focus on making education around the emerging market accessible to youth. According to CBS News, hes teamed up with Crypto.com for the creation of a blockchain technology-centered program for children.

Research shows the global blockchain market is expected to reach $56.7 billion by 2026. As part of the multi-year collaborative projectwhich is being led under the NBA stars philanthropic imprint, the LeBron James Family Foundationeducation programs focused on technology-related advancements will be introduced to inner-city communities. Through the initiative youngsters will explore the concept of Web3; a phrase used to describe digital platforms and apps that were generated on the blockchain, including NFTs. Web3 is built on the foundation of decentralization, giving consumers the ability to own and govern parts of the internet.

James says its imperative to ensure marginalized communities arent left out of the tech revolution and hopes the partnership with Crypto.com helps eliminate socioeconomic barriers standing in the way of accessibility to emerging technological trends. Blockchain technology is revolutionizing our economy, sports and entertainment, the art world, and how we engage with one another, he said in a statement, according to the news outlet. I want to ensure that communities like the one I come from are not left behind.

Several athletes are venturing into the world of NFTs. Last year golf star Tiger Woods unveiled his first non-fungible token collection which featured 10,000 rare images of himself. The NFTs were released through Autograph, a platform that merges sports and tech. The intersection of sports and technology is such an interesting space to me, and Im thrilled to partner with Autograph as they lead the charge by ushering a new era of digital collecting, Woods told ESPN. Its been an honor to join their advisory board among so many iconic athletes, and Im looking forward to bringing fans closer to my memorable sports moments at an accessible price, and to the game I respect so much.

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LeBron James Leads Initiative Centered On Teaching Youth About Cryptocurrency - NewsOne

The devil can cite Scripture for his purpose. William Shakespeare, The Merchant of Venice

Ten years ago this year, I rode a growing wave of enthusiasm for how governments manage and share data into a position as the first ever Chief Data Officer for the City of Philadelphia.

The open data movement had started a few years prior, and quickly caught the imagination of civic groups and technologists interested in helping make government work better. These groups wrote data scrapers, held hackathons, partnered with other civic groups, and lobbied elected officials to make the goal of publishing valuable data in easy to use formats official government policy.

A wave of new local government executive orders and the adoption of resolutions followed, culminating in the enactment of an Executive Order by the Obama Administration the turned publishing open data into the default for the federal government. This Executive Order took open data mainstream, and now its more likely than not that a city (or county, or state) has an open data program, policy, or platform.

At the time that open data was still catching on in the late aughts and early teens, I remember the feeling I had of being swept up in the growing movement. I advocated for it with what felt like a religious intensity. It became the focus of my professional life regardless of what job I was in at the time, open data ended up being all I wanted to talk about.

I was a true believer. And I still am, to some degree.

So its interesting now to watch another wave of enthusiasm start to sweep city governments and catch the attention of innovators. Like the open data movement before it, this new wave seems to be starting with local governments. Unlike the open data movement, this one seems to be driven not by civic groups and people outside government, but by elected officials themselves.

People that advocate for the use of blockchain technologies or cryptocurrencies in government tend to sound evangelical about it. They are true believers. I can relate to that.

But this new enthusiasm for blockchain in government is misplaced. It is a poor foundation for public policy and government operations.

Recently, the City of Philadelphia became the latest local government to jump on the blockchain bandwagon, joining several other cities in offering a new city-branded cryptocurrency.

The logic of this decision seems to be that it offers a way for people in or from Philadelphia to mine the new city-branded coins, with 30% of the value generated being dedicated to the city coffers. It has the additional theoretical benefit of signaling to crypto and blockchain entrepreneurs that Philadelphia is a friendly environment for their business concerns whatever that means.

A new revenue source to fund city initiatives, and a fresh coat of polish for local business development efforts. Whats not to like?

It turns out, a lot actually.

Full disclaimer Im not an expert in cryptocurrency, but you dont have to take my word that there are serious problems with the idea of a city-branded cryptocurrency. I can say that as an approach to municipal finance, it probably leaves an awful lot to be desired. (I cant imagine a program like this coming up in any serious way in discussions between for example city officials and any one of the bond rating agencies that weigh in on municipal debt issuance. The city would likely get laughed out of the room.)

City-branded coins are likely just a gimmick. An empty gesture meant to (hopefully) convey some level of technology relevance to the business community, and enable elected officials to pay lip service to exporting the tax burden.

Pure nonsense.

But the adoption of a city-branded cryptocurrency in Philadelphia specifically raises several serious problems that are worth considering when we talk about these kinds of programs.

First, the appeal of a city-branded cryptocurrency isnt just that it can generate money for the city. Its also that you yes, you! could get rich. Investors arent wild about crypto because of its stable, predictable, longterm returns. The idea that people can mine their own money and get rich quick has enormous resonance. The volatility of crypto is part of the appeal.

But in a city like Philadelphia that continues to struggle with poverty, and has the highest poverty rate of big cities in the U.S., this is an especially troubling position for a city government to take. You could argue that city-branded cryptocurrency is the moral equivalent to state-sanctioned lotteries, which run ads pushing another way to get rich quick. But this isnt Harrisburg sanctioning a program which disproportionately falls on lower-income citizens, this is the city doing it to its own people.

A key strategy in the fight to lift people out of poverty is giving them tools and resources to strengthen financial literacy. What lessons will the City of Philadelphia convey to its citizens living in poverty with a city-sanctioned cryptocurrency that is unregulated and highly volatile?

Whats more, participation in city-sanctioned cryptocurrency programs requires access to technology. According to the citys own numbers, fully 25% of city residents dont have access to a working desktop or laptop computer. How do we square that with the supposed upsides of the program?

If mining city-branded coins is indeed a good investment, that has benefits for both currency miners and the city, its likely that 1/4 of Philadelphia residents wouldnt be able to participate in the program. The city has suggested that funds generated by the program could be used to help close the technology equity gap:

Kenneys office said Philadelphia is enthusiastic about the potential of donations from a CityCoins program to target pressing problems in the city, including funding for digital-equity initiatives, rental assistance and arts programs.

This statement helps to highlight another connection to state-run lotteries a promise of earmarked funding to muster political support and blunt criticism. The promise of targeting lottery proceeds for education is a tried and true way of insulating such programs from critics who contend that they aggravate problems with compulsive gambling and overwhelming fall on the backs of low-income citizens. But the track record of earmarking funds from morally questionable government programs to those that are politically safe or popular is far from clear.

Its hard not to interpret such statements as taking a page out of the state-run lottery playbook. They seem like a transparent attempt to burnish the appeal of such programs by connecting them to those that have less controversy and wider appeal.

Ten years ago, I became one of the first municipal chief data officers in the country. But that appointment, and my time spent in that position, are less important to my way of thinking about using blockchain or cryptocurrency in government than what came before and after. I have spent almost my entire adult life studying about and working in government. For the last two decades Ive focused specifically on using technology to improve the way government operates.

I want to believe in the power of new technology to change government in radical ways. I really do. Ive proven myself an enthusiastic disciple of this faith. Ive kneeled at the altar before.

But with blockchain and cryptocurrency, there is simply nothing there that can help government do the jobs it needs to, in the ways it needs to.

Our best course of action when dealing with proposals for municipal cryptocurrencies is to heed the warnings of false prophets, and get on with the business of making government work better for the people who need it most.

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On Zealotry and Cryptocurrency in Government | by Mark Headd | Feb, 2022 | Medium - Medium

A son has been arrested and sentenced in a crypto crime that almost left his father dead. The son who had wanted to get his hands on his fathers crypto holdings but could not do so without getting access to his phone had turned to drugging his father and taking the phone off him. The series of events that follow is a rollercoaster that saw the father recovering in the hospital for four days and the son being arrested and charged.

The son identified as Liam Ghershony had started investing in the crypto market with his father after he introduced the latter to the market. The father told Washington Post that he had put his son as a partner on an investment account with $100,000 in it. Together, the pair had invested in cryptocurrencies that had yielded a healthy profit for both of them.

Related Reading |Indian Police Officer Arrested Over Kidnapping Crypto Trader For $40 Million

With the investment account now worth a lot more, both father and son were able to cash out some of their holdings and were left with an after-tax profit of $350,000. Problems had begun to arise when Liam had grown more paranoid with the declining market prices after the 2017/2018 bull market had begun to slow down. This paranoia was exacerbated by Liams use of benzodiazepines which he had grown addicted to.

Liam had approached his father about cashing out the rest of the portfolio, telling the older Ghershony that he needed to sell. The father recalls telling his son that he needed to stop doing drugs instead.

Determined to take matters into his own hands, Liam had cooked up a plan to sell the bitcoin holdings. After spending the day with his father helping to move furniture into a loft apartment, the pair had had dinner and then settled down for the night. This is when Liam took the opportunity to present his father with tea spiked with Benzos, assuring him that the tea would give him energy.

Ghershony recalls drinking the tea but does not remember anything after that.

Liam had been able to successfully retrieve his fathers phone and access the account, moving two-thirds of the portfolio into another cryptocurrency, ethereum. He had then left his father in the apartment believing that he would wake up later on his own. This would not be the case as the father would lay in the apartment for two days before being found.

After being taken to the hospital, it was discovered that he had been drugged with a high dose of benzodiazepines which left him severely dehydrated with acute organ dysfunction. The older Ghershony had then spent four days in the hospital recovering.

Related Reading |IRS Will Not Tax Unsold Staked Crypto As Income

Liam Ghershony was charged initially with attempted murder but was reduced to a lesser charge on account of his intentions not being to murder the father. He later pled guilty to the charge of felony assault and was given 125 days in jail, as well as the condition of going through two months of residential drug and mental health treatment.

Liam now lives in a group house with other addicts in recovery and is waiting tables at a restaurant in Rockville.

Link:
Son Almost Kills Father In Attempt To Steal $400,000 In Cryptocurrency | Bitcoinist.com - Bitcoinist

As cryptocurrency can help investors broaden their portfolios and diversify their finances, it can also help investors contribute to a wider range of organizations, charities and causesresulting in a more engaged and more impactful type of giving.

Published on February 3, 2022

Philanthropy is going crypto. The global conversation about money was shaken when cryptocurrency entered the scene. More investors are adding cryptocurrency to their portfolios, and its time to consider how cryptocurrency can support and sustain other elements of financial managementnot just buying or selling. Cryptocurrency gives consumers greater autonomy, and therefore, control when it comes to their money. Its nature as a fully digital currency makes it easier to send money, and it provides a greater sense of privacy for the buyer.

As cryptocurrency can help investors broaden their portfolios and diversify their finances, it can also help investors contribute to a wider range of organizations, charities and causesresulting in a more engaged and more impactful type of giving.

Cryptocurrency investors already have a generous spirit, but many are surprised to hear this because of the stigma surrounding cryptocurrency usage. According to Fidelity Charitable, 45 percent of cryptocurrency investors donated $1,000 or more to charities in 2020. By contrast, only 33 percent of their peers in the overall global investor population have given that much.

Thanks to the control and flexibility that cryptocurrency offers its users, generosity can become a regular part of money management. The primary way that cryptocurrency will transform philanthropy is by making it an automated experience that gives the consumer full control over how the funds are managed.

There is a real opportunity to tie the wealth creation possibilities of cryptocurrency with a mission to positively impact the world. Its time for cryptocurrency users and companies to understand that decentralized finance is about more than wealth creation. It can also be about generosity, philanthropy, and contributing to the greater good.

Forging a new path for philanthropy in the digital age requires the right technological tools. At Sandclock, we believe that bridging the gap between blockchain as a technological invention and blockchain as a method for philanthropy will require ultra-programmable money. Before cryptocurrency can become a vehicle for philanthropy, it must leverage yield generation strategies that split yield from principal. It is through this process that users achieve high rates of return that compound their yield and create micro-endowments.

Blockchain-based money markets like Aave, Curve, Yearn and Compound have grown exponentially in recent years. According to DeFi Pulse, over $100 billion is currently locked in various decentralized finance protocols. Various protocols offer yields on stable coins ranging from a modest 5 percent to 20 percent in most cases, with substantially higher APYs in newer blockchains like Solana, Terra and Avalanche.

But the key to making it work is a set of advanced algorithms that interact with various money markets on various blockchains. This allows users to generate yield on deposits and empowers them to use the platform as a blank canvas to create infinite strategies, allocating their principal and yield as they see fit.

Users can choose for their principal or yield to auto-compound, while the rest can be used to donate. Consumers can invest into dollar-cost average vaults that will buy crypto based on a predefined schedule, create DAOs that provide exit liquidity to NFT floor undercutters and give funders fractional ownership of the bought pieces or establish perpetual endowments that support global refugees through prepaid cards.

Cryptocurrency investors know this: The decentralized finance world hasnt been sufficiently battle-tested yet. Innovators and regulators are both still figuring out how to protect the investment community and leverage the benefits of cryptocurrency at the same time, moving forward in innovative ways without neglecting the potential issues of the technology.

The good news is that platforms like Sandclock are working toward compliance goals so that more users can adopt cryptocurrency as part of their investment portfolios. Sandclock is also one of the first to pursue SOC-1 and SOC-2 certification and work with well-established insurance providers to protect users funds in case of an unexpected loss, only furthering the stability of the investment.

As cryptocurrency companies and decentralized finance (DeFi) protocols continue to grow, so will generosity among their users.

Connecting with users desires to leverage cryptocurrencies and blockchain tech for wealth creation while also catering to their human drive to support global causes will be the key differentiating factor for generosity-based cryptocurrency in terms of adoption and growth.

Alexander Hughes is the chief legal and compliance officer at Sandclock.

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How Cryptocurrency Will Change the Way We Give - Worth

In May 2021, Joshua and Jessica Jarret requested the IRS a refund of $3,293 of income tax paid in 2019.

The couple filed a legal complaint with the US District Court for the Middle District of Tennessee.

They obtained 8,876 Tezos tokens through staking, and they claimed to the court that any tokens gained through proof-of-stake should be considered "new property" created by the taxpayer.

The Jarrets argued the Tozen tokens obtained should not be taxed until sold or exchanged.

IRS has offered to refund the couple's taxes paid on rewards gained trading Tezos.

The precedent opens the debate in defining and taxing cryptocurrency assets.

The IRS form 1040 verifies if taxpayers "received, sold, exchanged, or otherwise disposed of any financial interest in any virtual currency during the last year."

The IRS is trying to move on to cryptocurrencies. Nevertheless, there's still confusion about terms and how they can tax them.

Previously, the IRS defined virtual currency transactions as one that included the "receipt of new virtual currency as a result of mining and staking activities."

The IRS definition goes against the recent case in which they offered a settlement.

Cryptocurrency holders have plenty of doubts about the new IRS policy and how it would affect their earnings.

It is unclear if the IRS plans to update their official guidance regarding cryptocurrency. Nevertheless, crypto owners could start a new positive movement.

According to Crypto & Blockchain journalist Kamran Rosen, "sources close to the matter say the couple (Joshua and Jessica Jarret) plans to pursue the case further in court to obtain longer-term protection. This would undoubtedly set a national precedent for the growing taking industry, currently estimated to be around $18B."

"With half of all Bitcoin owners filing taxes on their crypto for the first time this year, the decision is likely to be one of the most closely watched of the 2021 tax filing season," Rosen published.

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Cryptocurrency news: IRS announces it won't tax crypto, but only in these cases - Marca English

Jamie Dimon, the CEO of JPMorgan Chase, has made his contempt for cryptocurrency clear, calling it worthless during the great crypto boom in October 2021. But now, he says, he has stopped even calling them currencies.

Currencies have rules of law behind them, central banks and tax authorities, Dimon said in an interview with the Greek news outlet Ekathimerini. I call them crypto-tokens.

Strictly speaking, Dimon is only partly correct. In economic theory, the kind of currency he meansbacked by governments and their agenciesis often called fiat money. But before there was fiat money, there was currency as a broadly agreed medium of exchange: Cowrie shells, for instance, were once used as currency so widely across India, China, and Africa that the modern Ghanaian currency, the cedi, comes from the local word for cowrie shell.

Currencies dont necessarily need to be backed by central banks to function as a medium of exchange; in fact, the champions of crypto say that the value of cryptocurrency lies precisely in that lack of centralized control.

Where Dimon has a point, though, is in the other two functions of currencies: to facilitate exchange for goods and services, and to store value. Bitcoin may buy you a coffee in El Salvador, and ethereum may buy you an NFT listing on OpenSea, but such use cases are still rare. The main thing crypto can be exchanged for is fiat currency.

And while cryptocurrencies do store value, they do it less reliably than the dollar or other fiat currencies. The price of bitcoin fell 46% between November 2021 and January 2022. If a fiat currency was ever that volatile, its users would be in severe trouble.

To that end, Dimon also claimed he didnt understand crypto assets and suggested other people dont either: Youve seen that, in the last couple of months, they have lost half their value in the US market, he added.

When Dimon calls cryptocurrencies tokens, he is casting them as specific kinds of tradable or fungible assets with limited utility. Crypto-enthusiasts think of tokens as a subset of all cryptocurrency. Dimon is telling them that cryptocurrency is already much narrower and more limited than theyd like to believe.

Original post:
Jamie Dimon is no longer using the word "cryptocurrency" - Quartz

Cryptocurrencies, generally, have been a spectacular asset class to own throughout the years. But Ethereum (CRYPTO:ETH), in particular, is in a league of its own. The smart-contract blockchain's native coin ETH has skyrocketed more than 24,000% over the past five years. This type of return was certainly life changing for the lucky ones who were prescient and bold enough to have gotten in at that time.

However, cryptocurrencies are still a nascent and evolving technology. And there are now more than 17,000 different tokens investors can choose from, providing plenty of opportunity to find the next big winner.

If you missed out on Ethereum, you'll want to seriously consider Cardano (CRYPTO:ADA). It has the potential for outsized returns in the years ahead.

Image source: Getty Images.

Cardano was launched in 2017 by Ethereum co-founder Charles Hoskinson, giving it a tremendous amount of credibility. The blockchain is named after Gerolamo Cardano, an Italian polymath, and its native token ADA is named after Ada Lovelace, who's known as the world's first computer scientist. ADA can be used to pay transaction fees on the network, to stake in order to earn rewards, and for governance in the future.

Like Ethereum, Cardano is a blockchain that enables the use of smart contracts, or self-executed computer programs, that run if certain conditions have been met. They eliminate the need for middlemen, leading to the possibility for major disruption.

Smart contracts allow for decentralized applications (dApps) to run on top of Cardano's blockchain.This functionality differs from Bitcoin, which was created to simply be a global, electronic cash system.

As of the evening of Monday, Jan. 31, Cardano's market cap was $35 billion, making it the world's sixth most valuable cryptocurrency.

Cardano operates somethingcalled Ouroboros, claiming to be the "first provably secure proof-of-stake protocol." This validation process, requiring ADA holders to stake their coins in order to approve transactions, is much more energy-efficient than proof-of-work. Also, Cardano can currently process about 250 transactions per second (TPS), far greater than the 30 TPS that Ethereum can do.

When it comes to the technology underpinning cryptocurrencies, there's a pressing problem known as the "blockchain trilemma." In the industry's young history, it has been extremely difficult for individual blockchains to achieve decentralization, security, and scalability at the same time. Bitcoin and Ethereum face the scalability issue right now, although solutions are in the works.

Cardano, in an attempt to ensure it can overcome the "blockchain trilemma," deploys a peer-reviewed development roadmap. This strategy no doubt takes longer, but it helps to minimize mistakes. The network is currently in the process of implementing its last two phases (out of five total).

The fourth phase, the Basho phase, is for scalability, with a plan to add multiple side chains to expand Cardano's capacity. If added successfully, Cardano will theoretically be able to process 1 million TPS, greatly increasing its potential for use in dApps, including those for decentralized finance protocols.

The fifth and final phase, the Voltaire phase, is for governance, a process needed to make the blockchain fully self-sustaining. This will introduce a voting and treasury system, allowing participants to have a say in Cardano's future development.

The ultimate viability of cryptocurrencies hinges on there being real-world use cases. So far, Cardano shows promise in this regard. It's already being utilized in various sectors. Credential verification in academia, supply-chain tracking in agriculture, and client onboarding in financial services are some examples.

In the world of dApps, Cardano is shaping up to be a top blockchain if it can execute on its growth strategy. The recent launch of SundaeSwap, a decentralized exchange, demonstrates Cardano's potential.

Cardano is attempting to improve upon Ethereum's weaknesses. And it all comes back to the focus of its developers to solve for speed and scalability, both of which are essential in order to grow the network's utility -- and most importantly for investors, its value.

Don't be discouraged if you missed out on Ethereum's monster price appreciation over the years. Cryptocurrencies are a young, undeveloped, and unproven asset class, so there's still a huge opportunity to attain outstanding returns if you know where to look. Cardano is a promising blockchain that's gaining substantial traction, and it makes for a solid crypto investment today.

This article represents the opinion of the writer, who may disagree with the official recommendation position of a Motley Fool premium advisory service. Were motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.

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Missed Out on Ethereum? Buy This Cryptocurrency Now - Motley Fool

Many college students are turning to buying and selling cryptocurrencies to help cushion their finances while balancing unstable part-time jobs and limited work hours as full-time students.

I would 100% recommend crypto investing, business major Matias Gonzalez said. Its the perfect form of investing for college students. I initially decided to invest because I saw that it was an opportunity in which I could put in very little but gain a lot.

Gonzalez was introduced to Dogecoin by a friend who told him Elon Musk had begun tweeting about how Dogecoin was the future. His tweets led to many people investing in it and later seeing it surge past 0.70 cents in May 2021.

There are many methods for getting a good return on cryptocurrency investments. Some try to get in early and buy as low as they can. Gonzalez initially bought several Dogecoin at about .05 cents a coin and since then has seen a 400% return on his investments. He thought about selling, but said its safer to leave it until its worth much more.

Others, like recent BYU graduate Branden Foley, like to watch what cryptocurrencies are trending. As soon as they start making a quick jump in value, they sell them at their peak to try to avoid ever being at a loss.

I doubled my money with Shiba, but I made sure to get out a week ago. Then I got a bunch of Loopring and made a ton of money too, Foley said. I mostly read articles that make sense and that I like. I dont make decisions based on what people on Reddit say because a lot of times its just crazy people on there.

Sebastian Barrera studies digital marketing at Ensign College and he likes to find online articles on what cryptocurrencies celebrities are investing in.

Theres a lot of celebrities out there that are big fans and investors of cryptocurrency, Barrera said. Tom Brady has made it clear that he completely believes in Bitcoin, and Mark Cuban has even said that Dogecoin is one of the strongest cryptocurrencies.

According to BYU economics professor Christian vom Lehn, the future of cryptocurrency still remains uncertain.

Many approach cryptocurrency with two differentideas, that it is the future of currency or that it is a great investment opportunity, vom Lehn said. In the long run, those are at odds with each other.

Vom Lehn said if cryptocurrency is to remain valuable in the long run, the value of currency will not change much.

The investment opportunity in cryptos lies in making a bet that these assets will become a big part of the future of money and currency and transactions, vom Lehn said. Based on what weve seen so far, that bet feels very risky to me.

There are still many unanswered questions as to how one can know what specific cryptocurrency to invest in. Regardless, some students have found even if they dont have much money they can still afford to invest a little.

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Some college students say cryptocurrency is the future - The Daily Universe - Universe.byu.edu

With differing degrees of utility, adoption, and promise, the market of cryptocurrencies has managed to garner attention

Cryptocurrencies are trending worldwide. It seems like ages when only a select range of investors was keen on investing in crypto. In present times, there is hardly any person remaining who hasnt thought about investing in cryptocurrency. With differing degrees of utility, adoption, and promise, the cryptocurrency market has managed to garner attention from every corner of the globe. The attention and popularity that the digital currencies enjoy have surely made investors decipher as to which are the best cryptocurrencies to invest in. On that note, here is the list of the top 10 cryptocurrencies gainers to buy and hold throughout 2022.

Avalanche, along with Solana, is another example of a crypto that has a clear purpose, as opposed to meme coins like Dogecoin, which have no purpose at all. Avalanche is one of the many projects seeking to unseat Ethereum, as one of the most widely used blockchain platforms, according to the cryptocurrency exchange Gemini. A US$220 million fund was just launched to fund the development of Avalanche, which boasts of much faster transactions than Ethereum (4,500 transactions per second versus Ethereums roughly 13 per second).

As the oldest cryptocurrency, Bitcoin is continuously keeping its place as the first cryptocurrency with the best growth potential in 2022. Financial institutes as well as other industries have started accepting payments in Bitcoin through crypto-wallets.

Ethereum has launched Ethereum 2.0 to be the fastest-growing cryptocurrency in the volatile cryptocurrency market. Ethereum 2.0 is here to solve the remaining problems and concerns of Ethereum to win against multiple competitors and attract crypto investors towards crypto wallets.

Binance Coin is maintaining its position as one of the fastest-growing cryptocurrencies in crypto wallets owing to its world-famous Binance Exchange platform. It helps to establish a competitive peer-to-peer cryptocurrency trading business since its launch in 2019. It is gaining popularity for its zero trading fees, multiple payment methods, and escrow service protection.

Unlike some other forms of cryptocurrency, Tether is a stablecoin, meaning its backed by fiat currencies like U.S. dollars and the Euro and hypothetically keeps a value equal to one of those denominations. In theory, this means Tethers value is supposed to be more consistent than other cryptocurrencies, and its favored by investors who are wary of the extreme volatility of other coins.

LUNA tokens are used for staking and mining stablecoins by burning, depending on the current rate of the cryptocurrency. Terra uses seigniorage which provides flexibility thanks to algorithms. Stablecoins in Terra are not backed by anything and are produced only when the equivalent amount of LUNA is burnt. This allows not only creating stablecoins, but also hedging assets. For example, if the LUNA rate grows by 50% against the dollar, then 1.5 times more TerraUSD coins will be issued. Likewise, if the LUNA rate drops by 25%, then you can redeem more coins for UST.

Fetch.ai is a decentralized machine learning platform for applications like asset trading, according to CoinBase. For example, one of Fetch.ais applications helps users of the crypto exchange Uniswap automate their trading. FET is an Ethereum-based token that powers Fetch.ai. Its gained more than 1,500% in the last year. Fetch.AI is using its technology to back real-world applications, says Ahmed Shabana, managing partner for Parkpine Capital.

XRP is one of the shiniest tokens sitting at the top of the altcoin pyramid and has shown an increase of 377% all around the year. Even though it is one of the few tokens that has seen massive growth rates, investors have high hopes for this cryptos future.

Cardano is an Ouroboros proof-of-stake cryptocurrency that was created with a research-based approach by mathematicians, engineers, and cryptography experts. It is one of the top cryptocurrencies that aims to be the worlds financial operating system by establishing Defi products similar to ETH as well as providing solutions for chain interoperability, legal contract tracing, and voter fraud.

Solana is one of the cryptocurrencies with the best growth potential in 2022. Solana is known as one of the competitors of Ethereum with the capability of processing over 50,000 transactions per second. It is also known for offering smart contracts to crypto wallets.

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Top 10 Cryptocurrency Gainers to Buy and Hold Throughout 2022 - Analytics Insight