DWA

Avoid a bad trade or investment strategy

Seven out of ten beginner cryptocurrency investors often makes this mistake of joining what is referred to as a pump and dump group, social media communities or expert who often promises them investment tips or signal, while this is not totally bad, as the beginner starts to get familiar with them and the tones used in the crypto space, it is also important that the beginner go out to acquire more education concerning cryptocurrency and not just rely on the signals gotten from these groups.

There are certain terminologies used in the crypto sector that may not be found in a dictionary. Here's one -Altcoin.

Altcoins are simply cryptocurrencies other than Bitcoin. They share characteristics with Bitcoin but are also different in other ways. They distinguish themselves from Bitcoin by providing new or additional capabilities, such as smart contracts or low-price volatility. As of March 2021, there were almost 9,000 altcoins, examples are litecoin, ethereum, dogecoin, BNB, etc. Which other Altcoins can you mention?

Crypto Motivation

One of our company values at DWA is working smarter, not just harder. Bill Gates made a striking statement, that he'll choose a lazy man to do a hard job because a lazy man will find an easy way to do it. This is food for thought!

What is cryptocurrency?

With all the hype and attention Bitcoin and other coins are receiving, it's important to know the basics. Cryptocurrency is simply put Digital Money. The internet, one of man's greatest inventions, has simplified everyday living but with transactions being carried out online, there's a need for digital money, enters cryptocurrency.

Cryptocurrency is digital or virtual money that is stored in digital wallets. It is decentralized, meaning it is not regulated or controlled by any central bank. They allow for secure transactions online with the use of cryptography, making it impossible to counterfeit or cheat the system.

Investment Tips

Expect the unexpected - Start prepared, the market is very volatile and you must experience this. But as you continue trading you would become familiar with the several price swings, you need to be mentally prepared for this and also you need to trade without emotion as this would help you take rational decisions instead of emotional ones during all trading seasons.

Crypto Word Of The Day

Decentralized - According to the Cambridge dictionary, decentralisation means organizations or their activities which are not controlled from one central place, but happen in many different places: This in 'crypto-sphere' means that It resists the control of central authority. That means that if you’re holding a currency like Bitcoin or Ethereum in a private wallet it can’t be taken or seized by an outside authority, or even the developers of those currencies themselves. You can store your funds knowing that they are safe as long as you protect your private keys. Decentralized systems can function without a third party to manage them while a centralized system is controlled by a central authority such as an exchange owner.

Crypto News

Binance's world dominance threatened as they face regulatory woes

In a shocking turn of events, Binance has encountered intense scrutiny from financial regulators in several countries. They are currently fighting a criminal complaint from the Thai Security Exchange Commissions. Financial regulators in the UK, Japan, the Cayman Islands and South Africa have also sent out warnings against the popular cryptocurrency exchange.

In response to the negative developments, Binance CEO Changpeng Zhao published a letter on the regulatory challenges the company was facing stating that:

"During the four years, we have seen regulators take a more active interest in the industry as-a-whole as the industry goes mainstream. We welcome this development, however, there is still much to do to harmonize the treatment of crypto-currency around the world. We aim to continue our efforts in working with regulators collaboratively to meet their concerns as the industry continues to grow," the letter read.

Crypto Trivia

The smallest unit of Naira is Kobo, the smallest unit of Dollar is Cents. What is the smallest unit of Bitcoin?

Crypto Motivation

"Real Wealth is about Freedom" - James Clear.

Which is why at DWA, our brand promise is "Freedom"" and it includes:

- Time freedom

- Money freedom

- Location freedom

..With cryptocurrency education, you can achieve freedom in all its ramifications.

Evolution of Money

Over time, centuries and decades, money has evolved from the popular trade by barter to cowries, gold, silver, coins, fiat (paper money), and now cryptocurrency.

Because fiat is popular, a lot of people conclude that it's the fixed tender for storing value, but let's not forget the evolution money has gone through in past decades.

Before Fiat became widely accepted and adopted, nations of the world had resisted its being used, kind of like what is happening to cryptocurrency now.

When paper money was initially adopted, it only served as a type of receipt. When you store your gold or silver in the bank, you get paper money as a receipt. Then you withdraw your coins from the bank by presenting your paper money!

Imagine hordes of people streaming to the bank with paper money, queuing up to collect their gold and silver, ridiculous right?!

Money has come a long way since, with cryptocurrency as the future of money!

Ignore the "noise"

We're surrounded by some people who still doubt if cryptocurrency is real or just a fad. They leverage on the media to spread this FUD (Fear, Uncertainty and Doubt), they tag it an over-hyped speculation, or a get rich quick scheme.

On the other hand, a large number of the populace are embracing the financial prospects and practical application of blockchain technology in our daily lives.

Both sides have loud voices and like to make a lot of noise and this noise level is only expected to increase. To be a successful investor in this space, it is best to DYOR (Do Your Own Research), invest in knowledge that will help you make the best financial decisions, while ignoring all the noise around you.

On Today's Episode of Crypto News

Ethereum address activity has risen past that of Bitcoin for the first time in cryptocurrency history according to data from Santiment, the analytics firm.

This monumental change implies that over time, Ethereum might surpass Bitcoin in more than just price performance.

CEO of blockchain data company Nansen, Alex Svanevix validated that “when active addresses on Ethereum are at record highs, that’s a true sign of organic growth.”

The director of the strategy at Two Prime Digital Assets, Arash Ghaemi tweeted that “Ethereum searches are going parabolic while Bitcoin searches drop/level off,” and that “As Google search interest rises, so will active ETH addresses, putting pressure on price upwards.”