Kategorie: Crypto Markets

• Crypto investors can still add to the value of their assets even during crypto winter.
• What are the top strategies of earning interest on crypto?
• Example of a cryptocurrency that one can still earn interest from during crypto winter.

A growing number of investors are taking advantage of cryptocurrencies to increase their assets’ value. During the crypto market’s winter, investors who don’t want to sell their holdings can consider interest rates as an alternative.

Earning interest on your crypto holdings is one way to increase crypto assets’ value. You can earn interest on your crypto without doing any additional work by using various platforms and services. How does it work? Let’s find out! 

Decentralized lending platforms

Decentralized lending platforms are a popular way to earn interest on your cryptocurrency. Using decentralized lending platforms, users can borrow or lend their cryptocurrencies at an annual percentage rate (APR). 

Interest is based on the type of cryptocurrency that you hold, as well as how much you lend.

The disadvantage of decentralized lending platforms is that they are vulnerable to impermanent loss, platform hacks, flash loan attacks, and, more commonly called DeFi rug pulls.

Automated crypto trading

Automated crypto trading is a technology-driven method of trading digital currencies on crypto exchanges. Through the use of advanced algorithms, automated crypto trading allows traders to make informed investment decisions without having to spend a lot of time manually analyzing data and events. 

In addition to simplifying operations and ensuring timely execution regardless of market conditions, automation removes much of the subjectivity from decision-making. 

Investors can use crypto trading bots or automated crypto trading platforms to execute trades. The problem with crypto trading bots is that they cannot adapt to market news, which can lead to big losses.  

One way to take advantage of automated cryptocurrency trading is to use platforms like Haru Invest. Algorithms on such platforms are constantly updated based on market conditions. Further information about Haru’s strategies and performance numbers can be found here.

Staking 

Last but not least, many digital currencies offer staking rewards where holders can stake their coins to participate in consensus protocols. 

Typically, stake rewards are paid out as newly minted coins or tokens, which can be sold or exchanged for other digital currencies. For instance, Cardano holders can stake their ADA tokens and earn rewards up to 4-5% annually.

Conclusion

You can increase the value of your crypto assets by earning interest on them without having to do any additional work, especially during crypto winter. You can easily add additional income streams to your crypto investments by utilizing specialized platforms like Haru Invest. It’s never too late to get started earning! You have a variety of options available to you.

The post Earn Interest on Crypto during Crypto Winter: Top Strategies appeared first on CoinJournal.

• Cathie Wood reiterates her super bullish stance on Bitcoin.
• She doesn’t see the recent FTX collapse as much of a threat.
• Bitcoin is currently up about 40% versus the start of the year.

The recent surge in Bitcoin is just a drop in a bucket compared to where the price is headed, says Cathie Wood – Founder of Ark Investment Management.

Wood continues to be super bullish on BTC

Bitcoin was an absolute pain for investors last year but none of it was enough to turn her dovish on the cryptocurrency. Wood still recommends buying BTC and expects it to eventually be priced at half a million dollars.

Even more so after the crypto fallout this past year and collapse in many companies, this idea of transparency and decentralisation is taking hold. Bitcoin and Ethereum are the two best manifestations of that in the crypto world.

The U.S. Federal Reserve is expected to announce its eighth consecutive rate hike on Wednesday, which makes today equally crucial not just for the equities but the crypto space as well.

Year-to-date, Bitcoin is up roughly 40% at writing.

Wood’s take on the recent FTX collapse

The crypto market was particularly spooked late last year following the collapse of Sam Bankman-Fried’s FTX that Coin Journal reported HERE.

But Cathie Wood doesn’t see it as much of a long-term threat for the likes of Bitcoin and Ethereum. This morning on CNBC’s “Squawk Box”, she said:

If you look at what happened to Bitcoin, the network, and Ethereum, the network, they really did not skip a beat at all. Transactions were completed. All smart contracts opened and closed.

Wood has a sizable position in the Grayscale Bitcoin Trust as well that, in 2022, sued the U.S. SEC for blocking conversion of its crypto product to an ETF.

The post Cathie Wood still expects Bitcoin to eventually be priced at $500K appeared first on CoinJournal.

• Celsius Network is currently going through the Chapter 11 bankruptcy process.
• Celsius received approval to process certain customer withdrawals last week.
• Those eligible to withdraw are those who deposited after the lender filed for bankruptcy.

Days after US Bankruptcy Court for the Southern District allowed Celsius Network to return funds transferred to the platform after the company filed for Chapter 11 bankruptcy in July 2022, the crypto lender has now published a list of those eligible for withdrawals.

Besides publishing the list, Celsius has emphasized that eligible creditors will be required to first update their accounts with KYC and AML data before being allowed to proceed with withdrawals.

The full list of those eligible to withdraw

It is worth noting that Celsius Network halted withdrawals in June 2022 before proceeding to file for bankruptcy in July. Creditors have since been waiting for a chance to withdraw their funds from the platform and it seems it is just a matter of time now.

On January 31, the crypto lender released an official update about the upcoming withdrawals and provided a list of those who will be eligible to withdraw funds. Most importantly, those eligible will only be allowed to withdraw about 94% of the eligible custody assets.

The court is expected to make a decision on whether the users will be able to withdraw the remaining 6% of their assets later.

Celsius also noted that eligible users must have sufficient assets to cater for the transaction and gas fees. It wrote:

“Eligible users who do not have sufficient assets in their accounts to satisfy these fees will not be permitted to withdraw their assets.”

Celsius laid out how it intends to carry out the entire withdrawal process in a 1,411-page court filing that contains the full names of those eligible for withdrawals alongside the type and amount of assets they had deposited with Celsius.

The post Celsius publishes list of those eligible for withdrawals appeared first on CoinJournal.

• The Immutable Passport is designed to operate as an all-in-one solution for Web3 gamers.
• The aim of launching the passport is to eliminate Web3 onboarding hurdles.
• Immutable Passport is expected to become parallel to the other web3 gaming systems.

Leading Web3 games developer platform Immutable X has unveiled the Immutable Passport, an all-in-one solution for onboarding gamers into Web3. The news has had an insignificant impact on the price of the ImmutableX (IMX) token which had only gained about 1% in the last 24 hours at press time.

Immutable X announced the launch via a tweet sharing its initiative to develop the passport, which is designed as an all-in-one non-custodial wallet.

Introducing Immutable Passport, your passport to the future of gaming 🎮

We are developing Immutable Passport, the instant non-custodial wallet onboarding solution for web3 games. Designed to onboard the next billion users into web3 #onIMXhttps://t.co/A8WKmGUxlV pic.twitter.com/NOxmZl2vDk

— Immutable 🅧 – $IMX (@Immutable) January 31, 2023

Seamless onboarding into Web3

As a gamer starting out in Web3 couple be complicated at times especially because it involves the use of cryptocurrencies which will require one to create a crypto wallet. In most cases, the process of creating and managing cryptocurrency wallets is quite involved.

However, with the introduction of the new Immutable Passport, Immutable X will offer an “all-in-one wallet, gamer profile, and authentication solution” for Web3 gamers which will make it quite easy to get started. Gamers will not have to hop from one platform to another for various services like a crypto wallet.

In addition to being a one-stop platform, Immutable X claims that the passport’s main features are security, ease of onboarding, and compliance with the necessary laws. The passport will help Web3 gaming studios to drive adoption throughout the mainstream web3 gaming space.

The post Immutable X unveils Immutable Passport, a non-custodial wallet for web3 gamers appeared first on CoinJournal.

• HSBC posted crypto-related job openings on its career page today.
• Peers have already launched crypto products in recent years.
• Shares of the largest European bank ended slightly down on Tuesday.

HSBC Holdings plc was in focus today on reports that the largest European bank was now ready to venture into cryptocurrencies.

HSBC posts crypto-related job openings

On Tuesday, HSBC listed a job opening on its career page confirming that it was looking for a “Product Director” to supervise tokenization use cases.

According to the financial behemoth, the rapidly evolving crypto landscape has necessitated that the bank develops a footprint in this market.

Because digital assets is a new topic and strategic & risk appetite considerations are evolving quickly, Head of Tokenization will be required to make complex business and project decisions that contribute to a high value, strategic initiative.

Shares of HSBC Holdings plc that are up more than 15% year-to-date ended slightly in the red today.

HSBC is joining the likes of JPMorgan Chase

The British multinational isn’t the only one in big banks that’s considering dipping its toe in the crypto market. Peers, including JPMorgan Chase & Co have already launched crypto-related products in recent years.

HSBC Holdings plc is currently looking for a suitable candidate to fill in the role of Product Manager for digital assets as well, which suggests that it wants to offer a broad set of services within the crypto niche.

That’s quite a change of pace for the universal bank that’s been vocal against the cryptocurrencies and raised questions on their sustainability. Just months ago, its CEO Noel Quinn was reported saying that HSBC will not rush into cryptocurrencies.

The post HSBC is now ready to venture into the crypto market appeared first on CoinJournal.