Morpher

Morpher

Morpher is a new and exciting exchange soon to launch.

Who is behind Morpher

Founded by Martin Froehler and Denis Bykov in 2018. Martin Froehler has an extensive background as a mathematician and in quantative finance he has been experienced in managing a quantative research firm in Zurich and founded a decentralized quantitative hedge fund in Silicon Valley. He has now turned his attention to creating Morpher, built on the Ethereum blockchain to allow traders to trade 24/7 virtually any asset quickly and easily. Denis Bykov is an engineer, Stanford educated and an ex Product Manager at Apple.
 

What is Morpher?

Morpher is a new type of exchange that operates on the Ethereum blockchain and provides trading without external parties beyond the blockchain and sidechain. Morpher offers no fees, high liquidity and the ability to purchase and trade 24/7 virtually anything – Cryptocurrency, stocks, gold and more. Morpher has the backing of the legendary Tim Draper whose business Draper Associates, provided the seed capital. 

Issues Morpher solves

  • High costs charged by middlemen by cutting them out and using the blockchain instead
  • Limited access to markets for the average person or trader
  • Limited hours of access for trading
  • Lack of liquidity
  • High minimum requirements for trades
  • Eliminates banks, brokers, exchanges

How Morpher works

Using Morpher tokens on the Ethereum blockchain, the tokens can convert to any asset that is required. When a person stakes a token on the blockchain, the token replicates the rewards provided by the asset. So for example if you stake 100 Morpher tokens on Tesla and Tesla increases 10%, you will receive 110 tokens. Because it's on the Ethereum blockchain it can take advantage of the smart contract function. In this way there are flexible options for adaptation to market changes in the future and can work in markets where there is very low liquidity. You can short Apple for as little $5 on a Sunday – this is revolutionary and a new step forward in an exchange for the future.
 

 A bright future ahead

Morpher offers a fascinating alternative to traditional exchanges by cutting out the middlemen, opening up the market, reducing costs, offering 24/7 trading capabilities and easy access. You can become an early adopter by registering for free here, and receiving a bonus credit on your account. Register today and receive a $60 USD credit in native tokens once you complete Know Your Customer (KYC). Please note, the rewards will halve after the first 10,000 members have completed KYC. Read more about other ways to receive Free Cryptocurrency in my post here.
Blockchain and Cannabis

Blockchain and Cannabis

Can Blockchain Technology Really Solve The Problems Faced By The Cannabis Industry?

With thanks to Rosita Henson of Creative Bear Tech for contributing this article.

For sure, anything related to technology may seem too complex for the ordinary person. Despite having a somewhat complex name, blockchain technology is quite easy to understand. I’m just an ordinary person like you. I was able to perform research on blockchain technology, and let me tell you, it’s quite impressive.

If you have been following Cryptocurrency over the last few years, you may have already come across the term “blockchain.” If you’re not a tech expert like me, then you would have relied on Google for the definition of blockchain. Moreover, Google may have given you an answer like this: “Blockchain is a decentralized, distributed, public ledger.”

It sounds a lot harder to understand according to this definition. Basically, blockchain is the technology typically used by Bitcoin, which is a type of digital currency, in keeping track of its records.

It’s quite understandable why a few industries have misunderstood blockchain technology, considering that it is a fairly new niche in a speculative market with a somewhat foggy set of laws. On another note, cannabis also exists in a speculative market with an unclear set of regulations.

Nevertheless, both industries are receiving an influx of talented programmers and entrepreneurs looking to present a solution that will resolve their respective industry’s biggest worries. With that in mind, I wanted to come here and present to you ways on how the blockchain technology can actually assist in transforming the cannabis industry.

The Cannabis Industry is Booming


Truly, the times are changing as 30 states have legalized the use of marijuana. Nine of the 30 states legalized the use of recreational marijuana, while the other 21 states have legalized medical marijuana. It is without a doubt that the cannabis industry is booming as a total sales $6.7 billion was reported by 2017.

This number is expected to rise with a projected sales of $20.2 billion by the year 2021, which is quite an amazing figure. In fact, experts are saying that the growth rate of the cannabis industry outpaces that of which was set by the tech firms during the dot-com bubble.

I find that unlike the other industries, the cannabis industry tends to be subjected to careful examination from the public. It receives more scrutiny as compared to others. As a result, this heightens the level of uncertainty in the cannabis marketplace.

While cannabis enthusiasts are indifferent toward the idea of additional safety measures and regulations surrounding product provenance, this is an industry that would need all the help it can get. Regulators, businesses, and entrepreneurs should consider how blockchain technology could be the answer to the challenges faced by the cannabis industry.

Blockchain Technology as the “New Internet”


Before I start discussing the reasons as to why numerous cannabis firms are utilizing their own blockchain technology, it is only right that I talk a little more about what blockchain technology is and what it can do.

A lot of people have been commenting on how blockchain is an “ingenious invention.” In fact, publicly traded companies, such as IBM, are now utilizing blockchain technology as a means to solve numerous issues.

As its name suggests, blockchain is a chain of blocks. Blocks refer to digital information, which is then stored in a chain, also known as a public database.

With that in mind, these blocks, which are digital pieces of data, have three parts:

It stores the details concerning a transaction, which would involve the time, date, and dollar amount of the most recent purchase.
It also stores the information concerning those participating in the transaction. However, instead of using a name, blockchain technology reads data through unique digital signatures.
Lastly, blocks store data that makes each block unique. A code, which is referred to by many as a “hash,” is assigned to a block which will represent a particular transaction. The code of your previous purchase may look identical to your recent purchase; however, the blocks can easily tell each transaction apart by using the codes.
When a block stores new information, that information is added to the blockchain. However, before a blockchain is formed, there are four things that must first happen:

A transaction must first occur
The transaction must be verified
The transaction details must be stored in a block
The block must be provided with a hash
Why Cannabis Companies Are Embracing Blockchain Technology
Similar to most supply chains, the cannabis industry can greatly benefit from the blockchain technology. The enhanced provenance that blockchains can provide brings about the peace of mind in both suppliers and customers.

By utilizing blockchain technology, it would be easy to identify how marijuana was grown and by whom, who were the parties involved in every cannabis transaction, and that no link along the cannabis supply chain was involved in any illegal elements.

Without further adieu, here are some of the reasons why cannabis companies are embracing blockchain technology.

Processing of Payments

The processing of payments is probably one of the struggles of the cannabis industry. Despite having the majority of the states in the US legalized either recreational or medical marijuana, the federal law still poses a number of restrictions as to how payment is accepted and stored by cannabis-based firms. Moreover, 300 out of 11,000 banks, in the United States of America allow cannabis business owners to open an account.

Since cryptocurrencies and other digital currencies are unregulated and decentralized, this provides cannabis business owners the ability to accept secure and fast payments that are cashless. Since cannabis-based businesses are cash-only businesses, blockchain technology can greatly aid in the accounting processes of the business.

With blockchain technology, owners of cannabis companies no longer have to sift through an infinite amount of financial statements. Blockchain technology will not only change how payments are accepted by the cannabis industry but also the entire operation of global commerce.

Quality Assurance
The production process of cannabis may touch on numerous businesses – from the farmers and growers to the authorized dispensaries, and from cannabis retailers to consumers. Nevertheless, the utilization of blockchain technology in the supply chain of cannabis businesses provides a complete picture of its end-to-end process; thus, ensuring quality assurance.

Maintenance
Stemming from the previous point, blockchain technology also allows the consumers, regulators, and business owners of cannabis products to pinpoint the inefficiencies in the cannabis end-to-end process. Remember, a supply chain that is supported by the blockchain’s flawless math has the potential to produce an improved overall customer experience.

Standard of Transparency
Paragon CEO Jessica Versteeg shares with Rolling Stone on how her cannabis startup is utilizing its very own cryptocurrency based on blockchain technology. For VerSteeg, it’s all about transparency in the cannabis space, considering the fact that this industry is facing unclear regulations across borders.

The ledger used by the blockchain technology can either reduce or eliminate any trace of human-based complication because it is unchanging. Financial institutions and government agencies that are performing audits on cannabis-related transactions can utilize blockchain technology as a means to keep track of its legality.

Limiting Over-Consumption
There are still unclear parameters governing the use, sale, and purchase of cannabis in states that have legalized its production and consumption. While there isn’t much difference between the legality of marijuana among the various states, the laws governing cannabis production and consumption are still too difficult to enforce.

This difficulty can actually lead to potential criminal networks. What’s worse is that tracing and identifying who is abiding by the regulations and who is going against it has become much more challenging.

Needless to say, heavy-handed tactics are prohibited in the context of the legalization of cannabis, and a simple introduction of blockchain technology to monitor and track personal sales would represent a fair middle ground between the current lack of command and more unhandy strategies.

There are two companies that use blockchain technology to solve this kind of issue. With IBM’s proposed solutions, there is an increased transparency on the legality of cannabis sales. In addition, BlockMedx is working on various ways in which blockchain can assist in combatting opioid abuse.

Facilitating Taxation
No matter where you buy it or how much you paid for it, you are always going to face a heavy tax when purchasing marijuana products; this was a huge part of the legalization pitch, after all. In fact, California reported over $2.7 billion wroth of cannabis derived tax.

If one is to utilize blockchain ledger technology and that this would be mandated for dispensaries, there is a high chance that sales figures would become certain and stable. By extension, it would lead to accurate taxation and simpler audits for all of the parties involved. The best part is that the revenues from cannabis-related transactions are given back in larger amounts to the citizens of the states who have chosen to legalize marijuana.

Again, IBM as one of the companies who proposed to the Canadian Government a particular blockchain solution for ensuring the effective and accurate tracking of cannabis so much so that it would lead to easier taxation.

Nevertheless, the act of utilizing blockchain technology can also present a number of disadvantages and risks for the cannabis industry. In fact, a company by the name of Deloitte mentioned how blockchain risks are classified into three categories, which are as follows:

Standard Risks
Blockchain technology will open cannabis-based companies to various risks that are associated and are actually quite similar to that of the current business processes. This can be considered as a nuance for those who need to account for their transactions.

Value Transfer Risks
Blockchain technology allows the peer-to-peer transfer of value without any need for a primary intermediary. The value involved in this particular transfer could either be a piece of information, identity, or even assets.

With that in mind, this new technological business model exposes the transactions and any interaction made between two parties. As a result, it opens them to new risks that central intermediaries used to manage.

Smart Contract Risks
When it comes to smart contract risks, these have the potential to encode complex financial, legal, and business arrangements on the blockchain system. Furthermore, it could also result in a higher level of risk associated with the act of mapping these transactions from the physical to the digital structure.

Final Thoughts on CBD and Cryptocurrency intersection


It is without a doubt that blockchain technology has the ability to transform any business process. It can do so by disintermediating the business’ processes and central entities, improving any of its efficiencies, and allowing the creation of an immutable audit on transactions.

According to what has been explained about blockchain technology, and what has been shared regarding the current state of the cannabis industry in the United States of America, it is clear that this industry can benefit from using this developing technology as a means to track and monitor its end-to-end process without ever neglecting marijuana laws.

With that in mind, here are my final thoughts on the utilization of blockchain technology by businesses in the cannabis industry:

One thing is for sure, blockchain technology brings about an impact in various industries only because companies are choosing to embrace its system. Basically, blockchain technology can assist in the seed-to-sale monitoring and tracking of the cannabis industry.

The states that have legalized the use of either recreational or medical marijuana make use of scanning and tracking procedures so that they can monitor the journey of every cannabis product until it reaches the end-user. Nevertheless, the full farm-to-table life cycle is quite difficult to track.

This is where the blockchain technology comes in. It can easily fix this particular issue that the cannabis industry is facing. With the used of codes and labels that blockchains bring to the table, all of the information concerning cannabis-related transactions can easily be traced, stored, archived, and searched.

More and more companies are now turning to blockchain technology for a more decentralized, secured, and transparent data ledger. With that in mind, I can vouch for having at least a blockchain developer be part of your team.

By welcoming blockchain into your business, much like what cannabis companies are doing now, you are allowing easy verification without having the need to be dependent on third-parties.

 

With thanks to Rosita Henson of Creative Bear Tech for contributing this article.

https://creativebeartech.com

Bitcoin Merchandise

Bitcoin Merchandise

Bitcoin Gear sold here!

Please note: this article may contain affiliate links where I receive a small compensation for referral at no charge to yourself.

Offering top quality Cryptocurrency based products this is a fantastic way to show how you feel about Cryptocurrency!

Once you understand the power and importance of Cryptocurrency you want to tell everyone about  it and the possibilities Blockchain and Cryptocurrencies can offer. You will likely want to talk to people about Crypto, show others that you are aware of and better yet a participant in this revolutionary technology. 

 

I enjoy wearing my Bitcoin T-Shirt around town. It can become quite a talking point, plus it really irritates my friends who are anti-cryptocurrency!

How better to do this than with funky and quality Cryptocurrency paraphernalia?

I have linked up with Bitcoin Gear to offer their quality items such as Clothing (tshirts, hoodies and more), mugs, jewelry and much more. Bitcoin Gear offer fantastic products, personally I could easily spend a pretty penny on these items. You can pay for your items in USD with PayPal, credit cards and Apple Pay. Bitcoin Gear ship to almost every country and shipping is free when spending more than $80. The customer service and quality is top notch!

Check out some of their quality products here and in the shop links below.

T-Shirts        Hoodies          Sweaters        Mugs       Bracelets and Cufflinks        Wallet Phone cases      Watches         Blankets and Towels          Display signs and night lights       Key Chains       Playing Cards

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cryptocurrency Bot.

Cryptocurrency Bot.


Bots – a great way to quickly grow your cryptocurrency.

Please note: this article may contain affiliate links where I receive a small compensation for referral at no charge to yourself.  

Using bots can be exciting and offer a relatively hands free method to grow your cryptocurrency. The returns are often significantly higher than those found in traditional returns (especially in the banking system) and therefore it is easy to get caught up in the excitement of a rapidly growing balance. Bots vary in their legitimacy, ease of use and need for technical know-how. Above all please treat bots with caution.

Bots fall into 4 simple categories.

100% Transparent – these bots are made of simple coding that you can use on an exchange with your own funds. These are needing a fair bit of trading education and programming to work right for you and will require regular maintenance.

Registered, professional and solid – these bots likewise link in with your exchange however they use a platform to do so which offers an easier interface. These platforms offer the ability to personally tweak or overlay signals and . My favourite for ease of use and education is CryptoHopper. Zignaly is a fantastic alternative that is more designed towards people who are experienced traders. For those wanting pure automation, Shrimpy.

Unrealistic, High Yield Investment Programme (HYIP) – these are often more hassle than they are worth and frequently found on Telegram. Returns are unrealistic and not sustainable. Some are simple ‘money grabs' and will never pay out, others will string people along paying for some time before disappearing. Just because a platform is paying out does not make it legitimate. Never risk more than you are willing to lose, and if you do invest coins in an HYIP make sure you stay on top of a solid withdrawal strategy to minimise your risk.

Get in-Get out quick platforms – these are higher risk platforms offering greater than common returns but operating in a somewhat undefined area. These platforms have the potential to do well over a sustained period or to end up being a modest HYIP. One platform I use that offers this is Cloud Token (please use my referral code 1104983010 when signing up). Cloud Token uses automated trading bots to trade on clients pooled funds stored in ‘Jarvis'. There is a complex and fascinating eco system being developed. Even so, with this type of platform it is very important to protect your capital and stick to a withdrawal strategy to minimise your risk.

I prefer the first two where possible as I am naturally more risk averse. Occasionally a promising HYIP works well as a gamble, however they are also more time consuming and higher stress. When I do find a risky but somewhat stable platform I will include it if I feel it will last for at least 4-6 months but emphasise the higher risk it offers. This is where a solid withdrawal strategy becomes even more critical. I have seen literally more than a hundred unrealistic platforms fail or scam out. Don't give your hard earned crypto away. You should do your due diligence on any platform you are considering and best of all know yourself so you only take on risk you are capable of handling.

 

My Bots

Trading bot platforms

CryptoHopper is one of the most popular bot platforms and offers education as well as a simple interface. 

Gunbot offers the benefit of a one off payment instead of monthly charges, there's the added benefit of being able to purchase a Lite version which means you can trial the emotionless strategy – perfect for absolute beginners – and then upgrade from there.

Zignaly is a fantastic option to get involved in more detailed bot trading. 

Auto-Rebalancing bots

 Shrimpy – a free service (upgrade option for a cost) that allows you to create a portfolio that suits you. The bot then automatically rebalances at a time interval you specify.

Hodlbot – free for accounts under $500, choose from pre-set portfolio options or create you own. The bot then automatically rebalances at a time interval you specify.

Bitclub

Bitclub Trader – is a bot linked with the Bitclub platform. Initial testing was not overly profitable. I will be retesting due to apparent improvements in the algorithm.

 

If you are interested in trading and pursuing it I would strongly recommend quality education such as with Learning Crypto. You can pair this with the type or style of automated bots that suit you. 

Please be aware, bots only follow the settings that are given to it and will only operate within those settings. There is risk in every bot and platform and there are NEVER guarantees to returns so it's best to know yourself. It is vitally important you have a strategy when going into any platform on how you want it to grow. If you would like to know more about strategies, click here.


What is a Cryptocurrency ICO?

What is a Cryptocurrency ICO?

Initial Coin Offerings – ICO's.

Please note: this article may contain affiliate links where I receive a small compensation for referral at no charge to yourself.  

What are ICO's?

ICO's are the cryptocurrency worlds equivalent of an Initial Public Offering (IPO). An IPO is a way for a business to raise funds and in return offer investors a share in their business. Any start up business has inherent risk and unpredicability, this is magnified in the Cryptocurrency space. ICO's therefore offer the greatest possible returns on investment but likewise carry the greatest risk.

ICO's are extremely volatile and in fact of all the ICO's launched in 2017, by February 2018 46% of them had already failed. Many of these failures are due to scams or badly managed business structures. If you would like to learn more about scams and ways to identify them check out my blog posts Scams and Signs of Online Scams.

Should I consider buying alt coins or ICO's?

Cryptocurrency is a volatile and unpredictable market. The coins that will last and have great growth will be ones that provide genuine utility and fulfil needs in the marketplace or world economy.

For newcomers to cryptocurrency, ICO's are not something to start buying straight away. You will want to build up a solid core portfolio first, likely with a heavier weighting of Ethereum. You will want to build more Ethereum because many of the ICO's are built on the Ethereum platform. Note: there are some great ICO's built on the Neo platform as well if you are looking for greater diversification.

When you feel you have a more solid grasp of cryptocurrency and have been researching and learning for some time, you may decide to invest in an ICO. Your research will possibly involve following some quality ICO specialists. For the most part your return on investment will follow your level and depth of research you do.

Here are some simple things to consider before purchasing any coin – especially ICO's and even core coins for your portfolio.

 

How to choose and buy a coin

 

* Choose a coin you feel has a strong long-term potential for application and greater use. 

* Read (and understand) the Whitepaper and the Terms and Conditions.

* Look at and confirm the information on the development team.

* Decide if the coin is realistic, applicable and attainable. Does it make sense? Does it solve a real world problem?

* Know who the competition for the coin is. How are they better?

* Look at the community support and backing. A fantastic project will not get off the ground if no one is out there championing it.

 

 For more information, check out my blog post on Choosing coins. It is important to Know Yourself, some helpful information can be found here.

Remember, once cryptocurrency has been given away there is no way to get it back unless the receiver CHOOSES to send it back.

Regardless, Cryptocurrency is a very exciting world, constantly changing and is still only in the beginning stages. Cryptocurrency use is affecting people – even without their knowledge. Cryptocurrency allows transparency in business, greater confidence and clarity on how items are produced. For more understanding as to When to invest in Cryptocurrency (and why) check out my blog post here.

Stay up to date on all information by subscribing to my email list, and join my Facebook group here. 

Choosing to invest in an ICO (or STO) is very similar to any investing. Follow common investing guidelines. If you would like my simple checklists, subscribe below! 

 

Trading with Crypto currency.

Trading with Crypto currency.


Why Trading?

Please note: this article may contain affiliate links where I receive a small compensation for referral at no charge to yourself.  

Cryptocurrency is a very exciting area to venture into. 

It has a lot of volitility (this means LOTS of opportunity for profiting and of course, risk) and is generally fast moving which is great for people wanting quick action. If you have experience trading in other financial markets or are interested in learning to trade you may want to consider trading cryptocurrency to grow your portfolio. 

Be aware it is a VERY volatile market and as such a great deal of profit can be made; conversely the losses can be great. It is NOT something you should start as a complete novice without some guidance and education. Many traders are unsuccessful in the long run and trading does require substantial education and technical expertise. Check out additional trading education here

 

If you are interested in learning if trading is for you or if you are wanting to learn more about entering longer term trades as an investor, I would highly recommend doing a course with Learning Crypto. The team is fantastic, offering comprehensive information and extremely reasonable prices. I have been blown away by the content of both the courses and the premium trading telegram group. Personally I am not a trader and have not desire to be. However the information I have gained from the group allows me to find better entries to Cryptocurrency purchases, confidence in selling at prime times and general coin information and updates that are highly useful – especially with a busy family life. Whether you are looking at being a trader or longer term investor Learning Crypto is a great place to start.

 

Once you have decided to take the plunge and have bought Cryptocurrency you will want to transfer it to a reputable exchange. Click the links below to set up an account. (Personally my favourites are currently Binance and Kucoin.)

Popular exchanges

Binance

Bibox

Bitsdaq

eFin

Huobi

Kucoin

CEX

Luno

Easy Crypto (NZ only)

Where to start

If you are interested in starting active day or swing trading you should start researching, establish a basic portfolio, follow one or two solid traders (paid or free) that TEACH techniques and start with a small allocation from your base portfolio. Consider signing up with TradingView, this allows you to follow traders and more accurately analyse trades and trading signals.

Most importantly set up good habits in tracking your trades from the beginning. This will help not just in analysing your trading and improving profitability, but also assist come tax time. My most useful tool for this is CoinTracking. Read more here

A great place to start becoming familiar with trading terminology and education is with Altcoin FantasyStart Crypto and Learning Crypto. 

Start Crypto by Mikey Robertson provides a variety of tutorials and videos for a beginner trader. This is a fantastic free way to get a taste for trading to see if it appeals. Altcoin Fantasy offers basic trading information and chances to win real Cryptocurrency through demo trading accounts. Learning Crypto is UK based and run by a small team of traders and investors. You can purchase access to courses, a monthly subscription for premium content and of course utilise the free YouTube videos and Telegram channel. Learning Crypto is the best of the three due to both the range of content, past returns, cost and the structure of the programme. 

Bots 

A trading bot such as Gunbot, can be beneficial in removing emotion and relying on technical analysis (CryptoHopper offers this too, Zignaly is the same but more directed to slightly more experienced traders). Because you can use pre-set settings it is great for a beginner, and due to the ability to tweak it can be just as useful for those with greater experience. Note: To get the best results you will still need to spend time learning how to set it and in tweaking it. Gunbot has recently been upgraded so it's much more user friendly than previously. There is also a new Lite version which is perfect for beginners and once familiar you can easily upgrade it. Check it out in the Shop here.

One fantastic platform I recommend people trading use in conjunction with other trading education is CryptoHopper. It is cheap, user friendly, able to use actively or more passively and has a very helpful support and community, especially for those just starting out but who are serious about building their trading accounts. 

Automated Rebalancing

If you have started looking into trading and decided you don't have the time to commit to it, don't actually enjoy the trading or simply are not having any trading success, another option for you is to use a rebalancing bot. A rebalancing bot makes small and frequent trades on an exchange account to maintain a specific portfolio that you set. This way it can operate as an index fund or very specific portfolio.

There are several fantastic options for automated rebalancing. HODLbot is free for account sizes under $500 and syncs only with Binance and Kraken exchanges. You can choose from one or 4 preset portfolios or create your own customised one. You can opt to go premium at $10/month which removes the $500 maximum account size. Shrimpy allows you to create a portfolio or index fund, preset portfolios and copy portfolios for $13.99/month. 

With both platforms, once the portfolio parameters are given, it will regularly rebalance to ensure the composition of the portfolio remains the same. This has been proven through extensive backtesting to provide far superior returns than only holding the coins – even when taking into account exchange transaction fees.

A Different Trading Service 

A final option I use is eToro. EToro is fantastic, it allows trading, copy trading and a copy of entire portfolios. Due to having a wide range of asset classes, you can be as involved as you like, and being registered and highly reputable, you know you are in safe hands. The returns – especially if you are focused on fiat – are less than you would expect in Cryptocurrency alone, but it's a great option to help grow your  -wealth and the service and general business structure is exceptional. Personally I look for it for more the longer term and steady, slow growth. The minimum deposit is $200 ($50 in Australia) and withdrawal fee is $25. Read more about eToro here. 

 

A final note

Remember trading is time intensive and inherently risky! 

Deciding on your strategy before starting trading is critical in gaining consistent profits! Figure out what works for you in trading, platforms, mining – anything and set everything up well from the beginning to save you time and stress. 

This blog post, Know Yourself should give you insight in where to start. The goal is to grow YOUR account and remember, if you don’t hold the private keys, it’s not really yours, so don't hold all your Cryptocurrency on exchanges, ever. Always hold the majority of your Cryptocurrency in your own wallet (for example a Nano) and ideally secure your mnemonic phrase with a CRYPTOTAG.

 

To access a simplified 3 month plan customised to YOU and your risk tolerance, budget and goals click here for my 3 month Portfolio Plan. Alternatively check out my freebies under start here for some fantastic PowerPoint Presentations to get started today!


Pin It on Pinterest