Connect with us

Cryto Mining

Bitcoin price soars: How much $100 would be worth today if you had invested earlier – Fortune

Published

on

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Cryto Mining

Coinbase CFO's outlook on the future of cryptocurrency – CNBC

Published

on

Coinbase CFO’s outlook on the future of cryptocurrency  CNBC
source

Continue Reading

Cryto Mining

Coinbase acqui-hires team behind BRD crypto wallet – TechCrunch

Published

on

As crypto proponents look to onboard a new generation of users, one of the major consumer onramps has been a host of consumer wallet apps with slick interfaces.
Today, Coinbase announced that it is bringing on the team from BRD — a crypto wallet startup that first launched its mobile wallet back in 2014. While the team is transitioning over to Coinbase, BRD’s co-founders say nothing will be changing for BRD users for the time being, and that their wallets will continue to operate normally and that user “funds are safe and secure.”
The wallet startup was an early player in the mobile crypto wallet space that started as a place for users to store bitcoin, but grew to support a wide network of tokens and the ability to buy, sell and swap cryptocurrencies thanks to partnerships with exchanges. The startup claims to have more than 10 million users.
“The team brings deep expertise in self-custody for crypto wallets, which will help Wallet enable more people to safely and securely access the decentralized world of crypto,” a tweet from the Coinbase Wallet Twitter account reads.
BRD raised a hefty amount of venture capital funding, banking nearly $55 million in venture funding from firms like SBI Crypto Investment and East Ventures.
Coinbase and BRD did not reveal terms of the acqui-hire.
Co-founder Adam Traidman and Aaron Voisine note that they plan to build out a “migration path” for users to transfer their wallet contents to the Coinbase Wallet app but that it will be entirely optional for users.
Cryptocurrency wallet BRD reaches 6 million users, driven by growth in Latin America and India

 
 

source

Continue Reading

Cryto Mining

You Can Buy Crypto on Venmo and Robinhood. Read This Before You Do – Money Magazine

Published

on

Share
Mortgages
Credit Cards
Loans
Insurance
Banking
Financial Goals
Follow Us
Bitcoin Will Hit $100,000, According to Experts. Here’s When They Predict It Will Happen
Two Things Crypto Investors Should Know About the Infrastructure Bill President Biden Signed
Crypto Scams Are on the Rise — Here’s How Investors Can Protect Their Coins
The Biden Administration Wants New Legislation to Regulate Stablecoins. Here’s What That Means for Investors
Ethereum Dropped Back Below $4,000. Here’s What That Means for Investors
Bitcoin Is Down From Its Latest All-Time High Over $68,000. Here’s What Investors Should Do Now
New Bitcoin ETF Grows at Record Speed. Here’s What Investors Should Know
Blockchain ETFs Let Investors Expose Their Portfolio to Crypto Without Actually Buying Any. Here’s How They Work
How to Buy Crypto on PayPal, and What You Should Know Before You Do
Best Cryptocurrency Exchanges of November 2021
Share
For proof of investors’ growing interest in cryptocurrency, look no further than the financial apps already on your phone. 
Digital payment giants PayPal, Venmo, and Cash App — along with mobile stock-trading platform Robinhood — are making it easier to invest in cryptocurrency than ever before, with options to buy and trade coins within their apps.
But even if you feel more secure buying crypto with an app you might already use over a cryptocurrency exchange you’ve never heard of, the risk and volatility remains. Some of these mainstream players are also far more limiting in what they offer than traditional cryptocurrency trading platforms. 

Here’s what you need to know about buying crypto outside of cryptocurrency exchanges, and how to decide what makes the most sense for you.

Mainstreaming Cryptocurrency

Apps like PayPal and Venmo make accessible entry points for crypto novices to dip their toes in the water. And, depending on how you already use the apps, their offerings may be well-suited to your knowledge base and interests. 
For example, someone with zero knowledge but a few dollars to spare might find an exchange like Gemini confusing, but may be willing to buy some Bitcoin through their Venmo account just to experiment as they start to learn.
In general, experts say these apps can be great places to start if you’ve decided it makes sense to invest in cryptocurrency, but don’t quite understand all the different types of crypto, how an exchange works, or different storage options
Whereas using a more traditional exchange might seem complicated, you can just log into your account and buy what you want without having to worry about it, says Tyrone Ross, financial advisor and CEO of Onramp Invest, a crypto investment platform for financial advisors. “For newbies, I really suggest going to PayPal, Venmo, Cash App types of places, because they make it as simple as possible.”
Even for investing pros, cryptocurrency can be daunting. Personal finance expert Suze Orman recently told NextAdvisor about her first attempt. “Truthfully, I didn’t really know how to buy a large amount of Bitcoin and crypto,” she says. “Coinbase was aggravating me, I had bought a little bit of it and then I sold some, but it was just too complicated for me — even though it’s not complicated at all.”

She instead decided to invest indirectly, through stock in companies with crypto holdings, but she’s recently come back around to buying crypto, this time on PayPal. “I own now $5,000 in Bitcoin, and I do it through PayPal because it was just easy to do it,” she says.
There are some important distinctions between using a fintech app to buy crypto versus a traditional exchange like Kraken or Crypto.com, largely involving ways you can (or can’t) transact, and limitations on where you can keep the crypto you buy. 

Payment Platforms and Cryptocurrency

PayPal, Venmo (which is owned by PayPal), and Cash App each operate a bit differently when it comes to crypto. Each of these apps offer different coins, and various fee schedules for buying and selling crypto. While Cash App does allow you to move your coins off the platform or move Bitcoin you hold elsewhere into your account, that’s not an option on PayPal or Venmo.
Robinhood offers a few types of cryptocurrencies (like Bitcoin, Ethereum, Bitcoin Cash, and even Dogecoin), which you can buy and sell within the app. Like its other investment options, a big perk of trading crypto on Robinhood is a lack of fees, which can widely vary among traditional exchanges.
Its accessibility as an investment platform is a big draw for many — whether they’re investing in crypto or the stock market — but it’s also what can make Robinhood riskier. It’s been criticized for making trading too game-like and encouraging volatility through active trading, rather than long-term investment growth. Just like stock trades, approaching an already-speculative asset like crypto with that mindset can make your investment even more of a gamble. 
When it comes to crypto specifically, Robinhood recently announced it’s creating its own digital wallet for its crypto users. Previously on Robinhood, you couldn’t move your private key (the encrypted code that grants access to your cryptocurrency) into your own wallet, or trade on an exchange like Coinbase. For believers in the crypto mantra “not your keys, not your coins,” that was a major drawback.

Still, not many details have been released about Robinhood’s wallet, including fees, specifics around security and private and public keys, or any other features. 
Whether you’re considering Robinhood or an app like Venmo, remember that cryptocurrency is highly volatile. Even if you’re just putting in a few dollars to experiment, it’s smart to approach your investment with a long-term mindset — once you’re sure it won’t stand in the way of your other financial goals — and be prepared to buy and hold over time rather than participating in active trading.
Even the more popular cryptocurrency exchanges — like Coinbase and Gemini — may not be platforms you’ve ever heard of or trust with your financial information. And others are simply difficult to navigate, making the process of buying crypto even more complicated for beginners. 
Because there’s little federal regulation, it can be difficult to evaluate how secure or reputable a traditional crypto trading platform is. While apps like Venmo or PayPal can’t protect your crypto holdings under FDIC insurance like they can your cash, familiarity with these apps can make the experience a bit simpler — maybe you already have your financial information linked, or the user interface is just more familiar.
“How much transaction volume and transparency into their financials and business operations I really think is the stuff you want to look at,” says Douglas Boneparth, a financial advisor and president of Bone Fide Wealth in New York. “Are most people going to do that? No, they’re going to find the easiest app to download and link their bank account, and make it easy to buy crypto again. That’s kind of the appeal of mobile apps [like PayPal and Cash App] and the like.”

But many experts view the apps as a jumping off point, not necessarily somewhere they’d recommend you keep your coins long-term. 
“It’s going to be a great way to get people introduced to the crypto space,” says Spencer Montgomery, founder of Uinta Crypto Consulting, a program for new investors to learn about crypto. But as they become more involved, “I expect that a lot of them, as they see success with it, will want to learn more, and as they learn more they’ll realize that there are better ways to be buying Bitcoin and move off of that.”
At some point, you may decide you do want control over your keys and your coins after all — and that’s why a more traditional exchange may be a better choice. For example, if an initial investment later saw a significant increase in value, you might want to move your crypto offline for greater security from cyber threats — something that wouldn’t be possible on Venmo or PayPal.
If all your crypto is on a platform that doesn’t allow offline storage, your only option is to keep it and put more money in on another exchange — leaving your assets in multiple places —  or sell what you have at the current price before buying elsewhere. 
If you choose an exchange like Coinbase from the start, which offers the option to keep your coins on the platform or trade and store them on your own, it can be much simpler to ease into those activities if you want to in the future.

It all comes down to the learning curve. “Exposure leads to expansion,” Ross says. “As you’re exposed to the space and you learn more and you get into the crypto economy, you’re going to realize, oh wait, there are all these other things I can do.”    
Whatever option you choose, just remember that cryptocurrency is still a highly speculative asset. It can be a worthwhile way to diversify your portfolio, even if you’re just experimenting, but you should only invest what you’re prepared to lose. 
No matter whether you put a few dollars into Bitcoin through Venmo, or you’re prepared to buy on an exchange and hold your coins in an offline wallet, only do so after you have your other financial priorities in order, like an emergency fund and traditional retirement plan. 
Wells Fargo Reflect Card Review: One of the Longest 0% APR Periods Right Now
VA Loans Come In Many Different Types. Here’s What Veterans and Service Members Should Know
Not Rolling Over Your 401(k) From a Former Employer Could Cost You. Here’s Why
These Homeowners Have Buyer’s Remorse. Here Are 5 Lessons You Can Learn From Them
Mortgage Origination Fees Can Add Thousands of Dollars to Your Home Purchase. Here’s What You’re Paying For
Learn all about finances in next to no time with our weekly newsletter.
In your inbox every Tuesday
Thanks for signing up!
We’ll see you in your inbox soon.
I would like to subscribe to the NextAdvisor newsletter. See privacy policy
Facebook
Twitter
Instagram
LinkedIn
YouTube
Tell us what you think
Did this article answer your questions?
Time is Up!
Let us know what questions you still have about this topic or any others.
Time is Up!
Thanks for your feedback!
Before you go, sign up for our newsletter to get NextAdvisor in your inbox.
Thanks for signing up!
We’ll see you in your inbox soon.
I would like to subscribe to the NextAdvisor newsletter. See privacy policy
Companies
8 min read
Investing
6 min read
Credit Cards
6 min read
Taxes
5 min read
At NextAdvisor we’re firm believers in transparency and editorial independence. Editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by our partners. We do not cover every offer on the market. Editorial content from NextAdvisor is separate from TIME editorial content and is created by a different team of writers and editors.
Subscribe to our newsletter
Thanks for signing up!
We’ll see you in your inbox soon.
I would like to subscribe to the NextAdvisor newsletter. See privacy policy
Follow us
© 2021 NextAdvisor, LLC A Red Ventures Company All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use, Privacy Policy (Your California Privacy Rights) and California Do Not Sell My Personal Information. NextAdvisor may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.

source

Continue Reading

Trending