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Forex cryptocurrency: How to choose what to trade

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Trading cryptocurrencies in Africa is becoming increasingly popular. This is due to a tech-savvy population who were already quick to adopt digital payments via mobile devices. However, forex trading has also seen increased growth in the country with an estimated 1.3 million traders in Africa. With this growth, there are plenty of potential traders who want to start trading but are unsure of which currency to choose in this complex environment.

This is after INFINOX Regional Director, Danny Mawas, who says it is important to do careful analysis before getting into trading. “Identify your personal goals, resources, and risk tolerance before choosing your risk and trade management strategies. It is also important to spend time researching and analyzing both markets before trading. ”

First, it is important to know the differences between the two as they are enormous and can be compared to the proverbial apples and oranges. “Cryptocurrency trading is trading in digital or virtual currencies that are secured by cryptography, the best-known example is Bitcoin. Trading takes place on relatively new decentralized platforms using blockchain technology, a system that makes it almost impossible to change, hack or cheat. “

“Forex is foreign exchange, or FX, and it takes place in the largest, most liquid, and established global markets. Every day, volumes of up to 6.6 trillion US dollars are traded in 150 state-supported national currencies, ”explains Mawas.

When it comes to choosing a trade, Mawas points out that it is important to consider the liquidity of the forex market versus the crypto market. “For example, when forex traders buy and sell these high volumes on a daily basis, it creates a liquid market that offers opportunities for all types of traders. In addition, thanks to their volatility, forex instruments also offer leverage as well as many trading opportunities, which makes trading an easy instrument. “

“The foreign exchange market allows individuals, large institutions, governments, retailers and others to participate,” he says. “Forex trading is essentially less risky, more protected, more regulated, and more stable. It enables investors to react to market movements and is influenced by political or economic factors that cause investors to enter or exit the market accordingly. ”

“However, trading crypto can be riskier as there is less information and fewer case studies to predict performance,” adds Mawas. “There are less established markets and while it may promise higher returns, there is no guarantee of profit, but a long-term option for potential profit.”

Mawas explains that for those looking to start trading Forex, there are proven strategies that beginners can consider. “One viable way to learn and fuel your trading journey is through online community apps like IX Social, where traders can share knowledge, trades and experiences with like-minded traders. It puts users in the spotlight with the latest news, community trending topics, top trades of the day and the latest prices in one place.

“The easy-to-use functionality, coupled with an auto-copy feature that allows traders to automatically copy the top traders to get the same results, makes it the ideal platform for beginners to learn and grow,” says he.

Mawas offers his advice, saying that it is important that you not let your emotions guide you no matter what forex traders choose to trade. “Trading based on an emotional impulse often results in traders buying and selling at inopportune times.”

“While there are great advantages to trading, it is important for traders to follow a strategy and get started easily. This will ensure their longevity and in-game prosperity, ”concludes Mawas.

Distributed by APO Group on behalf of INFINOX Capital.

Contact details on behalf of INFINOX:
Mondli Hadebe
mondli@eclipsepr.co.za
Tel: +2721 023 0440
Cell phone: +27 78 640 6457

over INFINOX:
INFINOX is an award-winning and market-leading online trading platform.

Founded in 2009 with the vision of delivering a customer-centric trading experience, INFINOX offers its customers first-class service in various asset classes. We empower and help investors gain access to the markets so they can trade forex, stocks, indices, commodities and futures; with our fast, efficient and reliable trading technology.

We strive to provide great service to our customers and we have a dedicated multilingual support team available 24 hours a day, 5 days a week. Whether you are a beginner or an experienced trader, INFINOX provides the relevant tools to get you started and improve your trading strategies. We offer instant funding options and the ability to withdraw your money quickly.

INFINOX Capital Ltd. SA is an authorized financial services provider and is registered by the Financial Services Conduct Authority at. regulated FSP No. 50506 (INFINOX Capital Ltd SA acts as an intermediary for INFINOX Capital authorized and regulated by the Bahamas Securities Commission).

INFINOX Capital is a registered trade name of IX Capital Group Limited, authorized and regulated by the Securities Commission of The Bahamas (‘the SCB‘) under registration number BE F-188.

INFINOX Limited is approved and regulated by the Financial Services Commission as an investment dealer (FSC) from Mauritius under the license number GB20025832.

INFINOX is a brand of INFINOX Capital Ltd, a company incorporated in the United Kingdom under company number 06854853. INFINOX Capital Ltd is authorized and regulated by the Financial Conduct Authority under registration number 501057.

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Danny Mawas, Regional Director at Infinox
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Cryptocurrency

On Giving Tuesday, cryptocurrency and NFT backers bullish on donating

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NEW YORK, NEW YORK – JUNE 29: Sir Tim Berners-Lee auctioned the source code for the World Wide Web, made available to the world free of charge, as NFT at Sotheby’s on June 29, 2021 in New York City. The auction raised $ 5.4 million, which Berners-Lee said would be donated to charity.

Noam Galai | Getty Images Entertainment | Getty Images

On this Giving Tuesday, philanthropy is experiencing a technological revolution. NFTs, known for advancing the arts and entertainment industries, are innovating in the field of charitable giving, and some of the biggest cops and earliest supporters of the crypto community are getting on.

Gemini, the cryptocurrency company founded by Bitcoin billionaires Cameron and Tyler Winklevoss, unveiled a “Give Back with Crypto” feature in February that allows Gemini wallet holders to courtesy of a three-year-old platform called. donate to over 300 nonprofits The Giving Block: The Giving Block provides the technology stack to connect the crypto community with the philanthropic community, meaning Gemini wallet holders, FTX users and all other partners of The Giving Block can donate any of dozens of cryptocurrencies directly to a nonprofit organization of their choosing.

The Giving Block has become one of the main pillars of crypto charity, working with dozen of platforms and exchanges and hundreds of charities. And as trendy as they are, the logistical and tax implications of crypto donations aren’t all that different from stock donations.

Donating cryptocurrencies isn’t new; United Way was one of the first and largest nonprofits to start accepting Bitcoin donations in 2014. Edwin Goutier, United Way’s vice president of innovation, told CNBC at the time, “We saw a growing, thriving community of individuals who were both passionate and a growing wealth base.”

Donate NFTs

Today Goutier sees a similar increase in NFTs.

Jack Dorsey famously sold his first tweet as NFT and donated the proceeds to charity earlier this year, and CNBC’s own “Haines Bottom” NFT auctioned off for over $ 61,000 just months later. The Winklevii also didn’t sleep on the NFTs for the philanthropy model. To commemorate the 13th anniversary of the Bitcoin whitepaper, Gemini displayed over 100 sentences from the paper on a former CNN billboard in Columbus Circle, NYC. Each set was sold as an NFT on Gemini’s-own Nifty Gateway and all proceeds were donated.

If donating cryptocurrency is akin to donating stocks, says Patrick McLaren, COO of Nifty Gateway, donating NFTs is analogous to donating physical goods, like a traditional piece of art or similar high-quality collectible. And, says McLaren, it’s in the DNA of the crypto community. “I remember when the blockchain industry was just turning into an industry and it was all going very, very quickly, it always struck me how much people wanted to give back.”

Venture capitalist and longtime cryptocurrency optimist Bill Tai recognized the charitable potential of NFTs early on. He was the first investor in Zoom and an early backer of Twitter and Tweetdeck, but he has also endorsed DapperLabs, the company behind NBA TopShot and CryptoKitties. In 2018, he commissioned what would eventually become the first NFT for charity: Honu Kitty, a part cat, part turtle that raised $ 25,000 for marine conservation. Now, three years later, Tai has founded Metagood, an NFT marketplace that enables donations for every NFT drop. Metagood’s investors include Owen Wilson; Richard Branson’s children Holly and Sam Branson; Charlie Lee, inventor of Litecoin; and Woody Harrelson.

Metagood is one of many NFT social impact projects launched this year. Binance launched the NFT for Good collection this summer, which benefits charities for children. OpenSea has been running charity drops, and DoinGud, an NFT marketplace with a fundraising requirement for every sale, launches to the public on Tuesday.

The charitable opportunity in crypto and NFTs does not come without an associated opportunity for the new platforms to make money. While many in cryptocurrencies highlight the community as a standout feature of the industry, greater use of crypto means a larger market overall. “Every time you have a community of interest, you have the opportunity to create trade and a currency,” said Tai.

How charities see the blockchain

The NFT appeal for charities and donors was less about the novelty of the blockchain and more about its long-term impact. The royalties that attracted Steve Aoki, Kings of Leon, and Gary Vaynerchuk to the NFT ecosystem also attract nonprofits that see NFT’s secondary and tertiary markets as opportunities for ongoing donation.

DoinGud is based on the Polygon blockchain and allows artists to determine how much of the token’s proceeds will go to charity and which charity will benefit from the sale. The platform initially allows no less than 5% allocation in the primary market, and the donations from the secondary market sales are specified in the individual smart contract of each NFT. The standard, says co-founder and curator Kyle Gordon, is a 2.5% donation on the secondary market.

As NFTs, like traditional art and collectibles, increase in value over time, Goutier says the potential in this new donation model is in part why the nonprofit has agreed to partner with DoinGud. “We will have the opportunity to get some of the sales in the secondary market,” he said.

As the value of the original NFT increases, so does the value of the donation, and the nonprofit organization selected by the Creator first benefits from every transaction forever. The advantages are of course monetary, but also cultural. With every transaction, the non-profit organization increases its relevance. “It’s a sustainable donation model,” said Goutier.

For artists, NFT profits are usually mitigated by infamous gas and transaction fees, and donating proceeds does not seem feasible for newer creators. To counter this, DoinGud has instead imposed gas and minting fees on collectors and offers creators the option to keep 95% of their sales proceeds.

However, as with anything crypto-related, it’s just getting started. While United Way has been accepting crypto donations for seven years, cryptocurrencies still account for an extremely small amount of its $ 4.8 billion annually raised – Goutier estimates less than 1%. NFTs can do very well to increase that number, but nonprofits are now considering other implications for their corporate funds. “Are we keeping crypto on our balance sheet?” said Goutier.

The Giving Block has released its own version of Giving Tuesday, NFTuesday, scheduled for December 7th in conjunction with the Sotheby’s auction to benefit Sostento, a nonprofit medical staff organization. The two praise the upcoming event as “the biggest NFT charity auction of all time”.

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This Explosive Cryptocurrency Just Pushed Shiba Inu to the Side

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No cryptocurrency has been as hot as this year Shiba Inu (CRYPTO: SHIB). It came out of nowhere and became one of the most talked about and most traded digital coins on the market.

However, there are always other cryptocurrencies that have the potential to become the next big thing. Most of them never break out of the pack. But some do. Here’s an explosive cryptocurrency that Shiba Inu just pushed aside.

Image source: Getty Images.

Watch out for falling rocks

For much of this year avalanche (CRYPTO: AVAX) traded with a market cap of $ 5 billion or less. It was big enough to grab attention but not enough to be considered a top-tier cryptocurrency.

However, Avalanche began to gain significant momentum in August 2021. It reached a plateau a few months later after beating several other cryptocurrencies based on market capitalization. Some may have thought Avalanche was running out of breath. Instead it was just a breather.

Avalanche went on a big run again from the beginning of November. The token received a particularly big boost after Deloitte decided to build disaster relief software platforms on the Avalanche blockchain. Granted, Avalanche’s wins weren’t nearly as impressive as Shiba Inu’s in October. However, Avalanche has steadily moved up the list of the world’s most popular cryptocurrencies.

While Avalanche has skyrocketed in recent weeks, Shiba Inu has declined. And last week, Avalanche overtook Shiba Inu to become number 11 in cryptocurrencies based on market capitalization, with Shiba Inu falling to number 12.

Why Avalanche is so attractive

Avalanche is the brainchild of Emin Gün Sirer, a professor at Cornell University. He is a pioneer in cryptographic research. Gün Sirer even designed a virtual currency concept six years before the milestone Bitcoin (CRYPTO: BTC) Whitepaper came out.

What really sets Avalanche apart from other cryptocurrencies is its architecture. Blockchains like ether (CRYPTO: ETH) Have problems with large-scale decentralization. This can lead to high gas charges. However, Avalanche solves these problems by integrating three different but interoperable blockchains into its network.

Avalanche’s Exchange Chain (X-Chain) is used to create and trade the platform’s native AVAX tokens. The Contract Chain (C-Chain) enables developers to create decentralized applications with smart contracts. The Platform Chain (P-Chain) coordinates validators for the verification of transactions and creates subnets (dynamic sets of validators).

Thanks to this architecture, Avalanche can process more than 4,500 transactions per second at low cost while remaining highly scalable. Perhaps most importantly, the time to finality (when a transaction has been irreversibly added to the blockchain) is less than two seconds – much faster than other blockchains.

Unsurprisingly, developers flocked to the platform. There are now more than 150 projects in the Avalanche ecosystem, including crypto wallets and non-fungible token (NFT) marketplaces.

Does Avalanche have stamina?

As with many other cryptocurrencies, Avalanche’s price fell due to recent news of the advent of the Omicron variant of the coronavirus. However, investors should expect significant volatility in the short term.

Does Avalanche have staying power over the long term? It could very well. Sure, there are plenty of other blockchains fighting to dethrone Ethereum as well. However, avalanche is growing in popularity and should be viewed as one of the top contenders.

This article represents the opinion of the author who may disagree with the “official” referral position of a premium advisory service from the Motley Fool. We are colorful! Questioning an investment thesis – even one of our own – helps us all think critically about investing and make decisions that will help us get smarter, happier, and richer.

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Why Bitcoin, Ethereum, and Dogecoin Surged Today

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What happened

The price of Bitcoin (BTC -2.14% ) rose on Monday as some big-name investors “bought the dip” over the weekend. As of 4:00 p.m. ET, Bitcoin has risen 6% in the past 24 hours, according to CoinDesk. And as is so often the case, other popular cryptocurrencies are like ether (ETH -0.75% ) and Dogecoin (DOGE 1.58% ) were also traded higher, up 7% and 8% respectively.

Bitcoin buyers over the weekend included a tech company called MicroStrategy (MSTR 4.90% ) and even a country: El Salvador. It seems the market believes that many retail investors have bought the dip too, considering the stocks on the cryptocurrency trading platform Coinbase Global (COIN 5.34% ) also increased by 5% today.

Image source: Getty Images.

so what

According to a filing with the Securities and Exchange Commission (SEC) today, MicroStrategy has purchased 7,002 bitcoins in the past few weeks. The purchases were made between October 1 and November 29, and totaled over $ 414 million. With those 7,002 new bitcoins, the company now holds a staggering 121,044 bitcoins at an average price of $ 29,534 each.

Investors could argue that MicroStrategy would be better off using their cash to grow their business. But it is difficult to argue with the results so far. The company spent $ 3.57 billion, yes. But those digital assets are worth over $ 7 billion as of this writing. That profit amounts to over $ 3 billion, which is larger than MicroStrategy’s total market cap prior to buying its first bitcoins last year.

Much like MicroStrategy today, El Salvador’s President Nayib Bukele announced on social media on Friday that the country had bought 100 additional bitcoins. At that point, the price of Bitcoin had just quickly fallen from around $ 60,000 each to below $ 55,000 each. As a result, the country has already made around $ 350,000 in profit from this purchase.

Since El Salvador is not a publicly traded company, there is no need to disclose current stocks. But it could hold well over 1,200 bitcoins in its treasury, provided it wasn’t sold quietly.

It is unlikely that El Salvador was a seller – Bukele is extremely optimistic about the future of Bitcoin, and is even planning a city around Bitcoin. The planned Bitcoin City will be built at the foot of one of the country’s volcanoes. This is to harness geothermal energy and mine more bitcoin from a clean source of energy.

I am not aware of any news that would have moved Ethereum or Dogecoin today. However, the leading cryptocurrencies are usually traded in tandem – they move up and down together on most days, albeit at different rates. Hence, the rise of bitcoin seems to be good for confidence across the cryptocurrency space.

What now

Trust in the cryptocurrency space is important to Coinbase. The company enabled a trading volume of $ 327 billion in the third quarter of 2021 alone. That was a 29% decrease from the second quarter as volatility eased somewhat. But it was still more than a six-fold increase over the previous year. Given that the lion’s share of Coinbase’s revenue comes from trading volume, the company certainly wants the trading volume to stay stable.

However, Coinbase is actively pursuing a future that does not depend on the volatility of cryptocurrency trading. In the third quarter, the company generated $ 145 million in subscription and service revenue, which represented nearly 12% of total revenue. This is the highest non-trading revenue Coinbase has ever had and is showing good progress in diversifying its earnings, which is important for long-term shareholders.

This article represents the opinion of the author who may disagree with the “official” referral position of a premium advisory service from the Motley Fool. We are colorful! Questioning an investment thesis – including one of our own – helps us all think critically about investing and make decisions that will help us get smarter, happier, and richer.

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