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Tag: dogecoin

  • What do Experts say about Shiba Inu Coin? Should you Invest in it?

    The cryptocurrencies such as Bitcoin and Dogecoin had been surging their value in recent years. The meme-based Dogecoin had reached its all-time high being part of the top 10 cryptocurrencies according to the market capitalization. Other than Bitcoin and Dogecoin there is a new cryptocurrency creating excitement in the crypto market called Shiba Inu Coin. Let’s look at what is Shiba Inu Coin, expert opinions and its price prediction.

    What is Shiba Inu Coin?
    Returns of Shiba Inu Coin
    Expert Opinions about Shiba Inu Coin
    Is Shiba Inu Coin a Good Investment
    Shiba Inu Coin Price Prediction
    Will Shiba Inu Coin Reach $1?
    FAQ

    What is Shiba Inu Coin?

    Shiba Inu Coin Logo
    Shiba Inu Coin Logo

    There is not much information available about this cryptocurrency. The crypto is considered to have been made in order to provide competition to Dogecoin. The website of Shiba Inu Coin claims that it has an experiment in order to the decentralized voluntary building of community.

    Shiba Inu Coin Website
    Shiba Inu Coin Website

    The coin features a hunting dog from Japan, Shiba Inu which rose in popularity due to the Dogecoin as this is also considered to be another meme coin. The website shares the message that this token is their first and the users have the choice to hold billions or even trillions of them.

    The nickname of the coin is Dogecoin killer and claims that everyone should own one from the open market.

    Will Cryptocurrency be taxable in India?
    Cryptocurrencies have become very much popular in India and there are many talksthat these digital coins will soon be banned by the Government of India. ACrypto Bill is expected to be announced anytime from the government and thereare talks that there will be a twin tax introduced by the governme…
    StartupTalkyAlan Joseph

    Returns of Shiba Inu Coin

    According to the data received from CoinMarketCap, the Shiba Inu Coin had given a return of 120 % in the time period of 24 hours at one point in time. When compared to a 7 day time period the coin has provided a return of around 1970.57 %.

    The meme-based cryptocurrency, Shiba Inu Coin which is positioned to be a rival coin of Dogecoin has a market capitalization of USD 15 billion whereas Dogecoin has a market capitalization of USD 22 billion as of 2021.

    Expert Opinions about Shiba Inu Coin

    Investorplace.com has recently conducted deep research into the Shiba Inu coin which conveyed that the predictions of the price of currency have been heating up due to the enormous gains of the cryptocurrency. However, it is seen that the investors are not yet rushing to invest their money into the new cryptocurrency.

    Investorplace.com had done a dive into the number of predictions about the new coin where they found out WalletInvestor has suggested that Shiba Inu coin is not a good investment for the long term.

    They also have an estimated prediction that the value of this cryptocurrency would see a downfall by the end of 2022 to somewhere in between USD 0.000029 to USD 0.000016. But DigitalCoinPrice has predicted that there would be an increase in the price of the cryptocurrency and would see a jump by the end of 2021 to USD 0.000044.

    Gov Capital has predicted that Shiba Inu Coin would see a huge drop falling to USD 0.000006.

    Why Most of the Wealthy Investors avoid Investing in Bitcoin
    Most of us would have heard about bitcoin and cryptocurrencies. It is all overthe news and everyone speaks about the fancy returns provided by this digitalcoin. It has created its mark in the market. It was not so famous some yearsback and the value of the coin was not so high. The popularity h…
    StartupTalkyAlan Joseph

    Is Shiba Inu Coin a Good Investment

    If you are not sure whether you should invest in this cryptocurrency, then take some steps before getting into the decision and investing your money into it. First of all, try to understand the fundamentals of cryptocurrency before you decide to trade with it.

    Understand the project and go through various risk management techniques and adjust it according to your capacity to bear the risk of which one would vary from one individual to another.

    The most important point which should be noted before investing your money into cryptocurrency is that you should be satisfied before investing, with your research and studies and never buy or invest your money into the coin because of someone else’s advice.

    Shiba Inu Coin Price Prediction

    Shiba Inu Coin Price Prediction
    Shiba Inu Coin Price Prediction

    Shiba Inu coin is a highly volatile coin as it is a meme coin and to predict its price is difficult as it is linked to the hype. The meme coin is expected to grow from $0.000014 at the end of 2025 to $0.000028 in 2030. As of 2022, the Shiba Inu Coin price in rupees is ₹0.002318.

    Shiba Inu Coin Price in INR
    Shiba Inu Coin Price in INR

    Will Shiba Inu Coin Reach $1?

    The current price of Shiba Inu is 0.000031 and reaching the $1 mark may sound impossible but we should remember that this is a highly volatile coin, also the price of the coin is linked to the hype of the projects. But can it hit $1? probably not. If Shiba Inu reaches $1, the market cap of the coin would be $550 trillion which would be higher than every combined economy of the world and 650 times the market cap of Bitcoin. So, it is highly unlikely that Shiba Inu will reach $1 in 2025 or 2030.

    Conclusion

    There can be risks involved with these get-rich-quick coins, even though the percentage returns provided by the cryptocurrency in the past may look attractive, there are a lot of cases where such coins have lost their value and provided negative returns after a few months.

    FAQ

    What is the use of the Shiba Inu coin?

    Shiba Inu tokens are powered by Ethereum. Fungible tokens like Shiba Inu are ERC-20 tokens.

    How many Shiba coins are left?

    As of 17 May 2021, a total of 394.796 trillion Shiba Tokens were in circulation, with a market cap of $6.52 billion USD.

    Where can I buy the Shiba Inu coin?

    You can currently buy Shiba Inu coins on platforms like Binance, Huobi Global, OKEx, Hotcoin Global, and MXC.COM.

  • Why does Coinbase Co-founder Fred Ehrsam believe that NFTs will be worthless in 3 to 5 years?

    Cryptocurrencies have been gaining popularity and with cryptocurrencies, in the recent times, a new crypto asset called the Non-Fungible Token (NFT) had amassed a huge amount of popularity. Many believe NFTs to be the future for art and other valuable items. But Fred Ehrsam has a difference in his opinion regarding to that and in an interview had conveyed about it. In this article let’s look at why Fred Ehrsam had conveyed that the 90 % of the NFT Collectibles would be worthless.

    Fred Ehrsam on NFT – Latest News
    Who is Fred Ehrsam?
    Fred Ehrsam take on NFT
    Fred Ehrsam on Cryptocurrency
    What Fred Ehrsam said about Bitcoin’s energy consumption?
    FAQ

    Fred Ehrsam on NFT – Latest News

    Fred Ehrsam who is the co-founder of Coinbase conveyed in an interview that he feels that the NFTs are going to lose their worth. On 16 June 2021, he had conveyed in an interview that 90% of the NFTs would eventually become worthless. He also added in his interview that he believes that people shouldn’t dismiss the doge coin.

    He also added that decentralized finance would be a riskier technology of the blockchain world and conveyed that the United States would get the regulations of bitcoin wrong and there could be a danger in that.

    Fred Ehrsam also added that criticism made on the bitcoin’s energy use must be reconsidered by Elon Musk and Bill Gates.

    What is Robert Kiyosaki’s take on Cryptocurrency?
    Robert T Kiyosaki is the author of the well-known personal finance book Rich Dad
    Poor Dad. The book was published in 1977 and has become the New York bestseller
    having a sale of around 40 million copies worldwide. He had previously praised
    the properties of bitcoin. Let’s look at what Robert T Kiyos…
    StartupTalkyAlan Joseph

    Who is Fred Ehrsam?

    Fred Ehrsam is an American based business man and an investor. He was the co-founder of one of the largest cryptocurrency exchange Coinbase. He had left Coinbase in the year 2017 and the company had gone public with a valuation of USD 100 billion.

    Fred Ehrsam is currently the co-founder and the managing partner of the cryptocurrency investment firm Paradigm. As of 2020, the company had made more than 25 investments in cryptocurrency related companies. He was born in the year 1988 in Boston.

    Fred Ehrsam’s take on NFT

    Fred Ehrsam conveyed in his interview that people are going to try all sorts of stuffs and added that in the coming future there would be millions and millions of cryptocurrencies and crypto assets. He compares cryptocurrencies and crypto assets to the millions and millions of websites that were developed during the boom of the .com phase in which the most of them wouldn’t work.

    He conveyed that around 90 % of the NFTs will have no value in the next 3 to 5 years just like the early internet companies in the late 90s. He added that the value of NFTs would probably be the same as those companies.

    Reasons Why Elon Musk has not launched his own Cryptocurrency?
    Elon Musk is an American entrepreneur and a Business Magnate. He is the founder,
    Chief Engineer and CEO of SpaceX, CEO, product architect and an early-stage
    investor of Tesla, founder of the Boring company and also the co-founder of
    Nueralink and OpenAI. He is one of the richest men in the world. E…
    StartupTalkyAlan Joseph

    Fred Ehrsam on Cryptocurrency

    Fred Ehrsam conveyed in the interview that if cryptocurrency has taught us something it is not to dismiss a good meme and adds that it could display much more progress. He refers to dogecoin and other crypto assets.

    Speaking about decentralized finance he added that one thing that totally changed in the year 2017 was that the doors suddenly opened to much broader applications. He added that Ethereum came out of nowhere and proved that various applications and projects could be build using the blockchain technology. He said that in the coming future we will be able to see a lot of mainstream consumer applications.

    Market Cap of NFT
    Market Cap of NFT

    What Fred Ehrsam said about Bitcoin’s energy consumption?

    Speaking about the criticism of the environmental impact of cryptocurrencies he conveyed that Elon Musk and Bill Gates will have to examine the issue much more closely and added his personal view which stated that it would be much more energy efficient in order to use these digital coins and transfers in the coming future. He added that it is totally understandable that there would be a lot of confusion in the beginning stage.

    He added that, the world doesn’t change overnight but he said that we will be able to see the seeds of exponential growth that is already occurring. He added that we would live in a future where we would not require central currencies or a central system in order to co-ordinate with each other.

    He added that it has already been proved by the financial services where we do not require a central system in order to hold our money or transfer our funds and we could be our own banking system.

    Conclusion

    Fred Ehrsam conveyed that history is yet to be written and added that in his view he is at a very strong place where the brand is trusted not only by the users but also the regulators. He added that being that bridge in the world of cryptocurrencies is a really great place to start.

    FAQ

    What is the net worth of Fred Ehrsam?

    The net worth of Fred Ehrsam is 290 crores USD.

    What does NFT mean?

    NFT is non-fungible token. It’s generally built using the same kind of programming as cryptocurrency, like Bitcoin or Ethereum. NFTs can be used to represent items such as photos, videos, audio, and other types of digital files.

    How does NFT prove ownership?

    Nonfungible tokens prove ownership of a digital item – image, sound file or text – in the same way that people own crypto coins. Unlike crypto coins, which are identical and worth the same, NFTs are unique.

  • Why did Thailand ban Meme coin (Dogecoin), NFTs, and other exchange tokens?

    The cryptocurrencies have been receiving a lot of regulations. A lot of Government’s has been banning certain digital coins are a certain type of transaction with the latest news being from China. The most recent news is from Thailand where the government has banned a set of digital coins introducing a new regulation for the cryptocurrency market. Let’s look at the reason why Thailand banned meme coin and other NFT’s.

    Thailand Dogecoin Ban– Latest News
    What is the the Law laid by Thailand regarding crypto exchanges
    Reason Why Thailand banned Dogecoin and other Crypto exchange
    Other norms laid by Thailand
    FAQ

    Thailand Dogecoin Ban– Latest News

    Thailand had conveyed that they have introduced a selective ban on the cryptocurrency market which focuses on meme coins, Fan tokens and Non-Fungible Tokens. The Securities and Exchange Commission Board has set a prohibition for the exchanges dealing with the digital assets from providing the services related to these assets.

    On 9 June 2021, there was a meeting held by the Securities and Exchange Commission where the new resolution was passed. The new law that was passed was under the Rules, Conditions and Procedures for undertaking Digital Asset Business as per SEC Secretary General Ruenvadee Suwanmongkol.

    The new law had been come into effect from 11 June 2021 following the publication in the Government Gazette.

    Will Cryptocurrency be taxable in India?
    Cryptocurrencies have become very much popular in India and there are many talksthat these digital coins will soon be banned by the Government of India. ACrypto Bill is expected to be announced anytime from the government and thereare talks that there will be a twin tax introduced by the governme…
    StartupTalkyAlan Joseph

    What is the the Law laid by Thailand regarding crypto exchanges

    The new law has laid down restrictions regarding the crypto exchanges in the country from listing the Utility Tokens and certain types of cryptocurrencies on the exchange. This will include the meme coins, Fan tokens, Non-Fungible tokens and Digital Tokens.

    The new law will be effective from 11 June 2021 and the Securities and Exchange Commission of Thailand directed the Digital Asset exchanges to remove the listing of such currencies within the time period of 30 days.

    Number of Dogecoin transactions
    Number of Dogecoin Transactions

    Reason Why Thailand banned Dogecoin and other Crypto exchange

    The new regulation is focused to protect the interest of the cryptocurrency or digital asset traders as stated by the Thailand Securities and Exchange Commission. The SEC of Thailand had conveyed that the Meme coin has no specific objective or an underlying principle and added that the price of the coin is entirely dependent on the hype created on the social media platforms.

    The price fluctuates according to the trend on the social media platforms. Some of the famous examples of meme coins include Dogecoin, Shiba Inu Coin and SafeMoon.

    The SEC of Thailand has also conveyed that Fan tokens are just based on the influence of certain influencers in the society and considered them to be unfit for the traders.

    The Thailand Securities and Exchange Commission had also mentioned that they have banned the Non-Fungible Tokens that are issued by the Cryptocurrency exchanges or Digital Asset exchanges and also from the related persons known to the traders as exchange tokens.

    Non-Fungible Tokens act as a certificate of ownership for the unique Digital art and exchange tokens are offered by the cryptocurrency exchanges to the traders or their users for further investments or transactions.

    How is Iran using Bitcoin in its Favour?
    Iran which is also widely known as Persia is a country in the Western Asia. Itis the second largest country in the Middle East. The country has updated itsrules on the officially mined cryptocurrencies in the country. Let’s look atwhat the country is planning to do with the mined cryptocurrencies…
    StartupTalkyAlan Joseph

    Other norms laid by Thailand

    The Thai SEC had also defined another Norm where the there is a requirement that is imposed in the event that digital tokens that are issued by their own exchange or related persons are listed on the stock exchange.

    It was also mentioned that any issuer of the token who would fail to comply with the white paper and the relevant rules will have their tokens being removed from the listed token in the exchange.

    As mentioned earlier Thailand is one of the earliest countries to have been laid down regulation on the cryptocurrency market. Earlier China had laid down a set of regulations into the digital asset market which was specifically targeted on cryptocurrency mining which focused on bitcoin.

    Conclusion

    However, it is seen that the Government of different countries has taken their efforts to tackle down on the cryptocurrencies with a lot of cases coming up against the digital assets. The blockchain technology on the other hand has proved to be really effective and useful for the Governments’. We will have to look forward to knowing what the future holds for these digital assets.

    FAQ

    Why did Thailand ban Dogecoin and other NFT’s?

    Thailand Securities and Exchange Commission stated that they have imposed a ban to protect the interest of the cryptocurrency or Digital Asset exchanges.

    Who is the owner of Dogecoin?

    The popular meme coin dogecoin was created by Billy Markus, he claimed that he created the crypto in just two hours.

    Why is dogecoin called a meme coin?

    Dogecoin is often referred as meme coin because it was created as a meme on the popular meme dog Shiba Inu.

  • Ethereum 2.0 : Launch, Price Predictions, Working, Comparison with Ethereum

    Global Market has been revolutionized through the Blockchain technology. The technology has disrupted the major sectors which include finance, agriculture, banking and health care. Ethereum is one of the largest cryptocurrencies in the market and a lot of decentralized apps and smart contracts have been build using the Ethereum network. Let’s look at what exactly is Ethereum 2.0 and Will it replace Ethereum?.

    What is Ethereum 2.0?
    What is Sharding?
    Proof of Stake
    Working of the Ethereum 2.0
    Difference between Ethereum and Ethereum 2.0
    Price Predictions of Ethereum 2.0
    When will Ethereum 2.0 launch?
    FAQ

    What is Ethereum 2.0?

    Ethereum 2.0 is the modified or an upgraded version of the already existing Ethereum blockchain. The main aim of Eth 2.0 is to increase the number of transactions by increasing the scalability and the speed of the previous Ethereum network. Ethereum is known as Eth2 or Serenity and it is the pseudo name for the new version.

    As compared to the previous version of Ethereum network, the Ethereum 2.0 has some fundamental changes in its design and structure. The two major changes that were done in the Ethereum 2.0 are sharding and proof of stake.

    What is Sharding?

    Sharding is a process through which there is a multiple blockchain split through a single blockchain. The multiple blockchains will be known as shards and it would make the entire network of the Ethereum blockchain more efficient.

    There will be an increase in the efficiency as the multiple blockchains will be handled by multiple validators which will reduce the workload. The information related to a particular shard will be maintained by a particular validator and there would be regular shuffling between the shards in order to avoid any kind of manipulation between the validators.

    The communication and the coordination of shards are conducted and maintained through the beacon chain.

    Proof of Stake

    In the mechanism of proof of stake, the miners would be replaced with the validators. Their major role would be to validate the transactions by providing storage, computer power, maintaining the bandwidth and proposing new blocks.

    The validators will be paid using ETH periodically and in order to reduce the malpractices the validators will have to provide a deposit of 32 ETH which should be locked in and the deposit will be forfeited fully or partially if the validators involve in a malpractice.

    Working of the Ethereum 2.0

    The most important aspect of the Ethereum 2.0 blockchain is the validators. They are the ones responsible for the maintenance and the infrastructure of the cryptocurrency. Every validator will have two keys with them which are the signing key and the withdrawal key.

    Signing Key

    In order to perform the work for the blockchain, a signing key is used. The sign in key must be active 24/7 as the validators have 3 main functions which include adding blocks and proposing the blocks to the beacon chain or the shard chain, to report if there are any malicious behaviors from the validators and to attest the validity of the shard chain or beacon chain.

    Withdrawal Key

    The actions on the funds are controlled by the withdrawal key. There is no necessity that the withdrawal key should be available 24/7 like the signing key. However, the validator needs to ensure that the withdrawal key is secure as it has control over all the funds and that is one of the major reasons why the validator has to lock up 32 ETH in the beacon chain.

    However, the validators do not work alone, they work in a group of around 128 validators as a committee.

    Price of Ethereum 2.0
    Price of Ethereum 2.0

    Difference between Ethereum and Ethereum 2.0

    The Ethereum and Ethereum 2.0 have a major difference in the mechanism they work on. Ethereum works on the mechanism of miners, where they have to solve a puzzle to record a transaction and whoever solves the math puzzle first will record the transaction, it is called proof of work. Whereas Ethereum 2.0 works on the basis of proof of stake where the validators record the transaction.

    Ethereum consumes a lot of energy as it requires a high amount of computer power but Ethereum 2.0 uses a comparatively lesser amount of energy.

    Price Predictions of Ethereum 2.0

    There are a lot of price predictions related to Ethereum 2.0 PrevisioniBitcoin has predicted the price to be around USD 4740 for the year 2022. Coinpedia, Longforecast and Coinpriceforecast have predicted the price to be around USD 8000.

    However the highest prediction is that of Brian Shuster who is the CEO, president and chairman of several companies. He predicts the price of an average single coin of Ethereum 2.0 to be around USD 100,000 and expects a market cap of 10 trillion which is that of gold.

    When will Ethereum 2.0 launch?

    The Ethereum network is already the second largest in the cryptocurrency market with around more than 1,400 Ethereum projects being built. The launch of Ethereum 2.0 will be in stages and is expected to be in the market by the year 2022.

    The Eth 2.0 however has a lot of advantages and a higher scalability option compared to the Ethereum network and it is expected to increase the interest of the investors in the coming years.

    Conclusion

    Ethereum 2.0 is considered to be much more secure than the Ethereum network and will be faster as it is expected to have a transaction of around 10,000 per second. The Ethereum 2.0 will concentrate on building more projects.

    FAQ

    When will Ethereum 2.0 launch?

    A full scale launch of Ethereum 2.0 is expected till 2022.

    Will Ethereum 2.0 replace Ethereum?

    No, Ethereum 2.0 will not replace Ethereum but It is an upgraded version of Ethereum.

    Will Ethereum 2.0 affect Ethereum price?

    The value of ETH goes up and down every day so its unclear to say Ethereum will affect the price or not.

  • Is DubaiCoin worth Investing in? What are experts saying about it?

    A new cryptocurrency named DubaiCoin had been in the market limelight after Dogecoin and Shiba Inu Coins. The digital coin saw a surge of more than 1,000 % in the time span of 24 hours. Let’s look at the further information about this new digital coin.

    DubaiCoin – Latest News
    Dubai Government’s response to DubaiCoin
    Arabianchain Technology
    How to Invest in Dubai Coin from India
    FAQ

    DubaiCoin – Latest News

    The new digital coin named DubaiCoin had seen a surge of over 1,000 % in a time span of 24 hours. This was because numerous media had reported the digital coin to be the official digital coin of Dubai. The value had shot up after a press release claiming it to be the official cryptocurrency of the country.

    The digital coin was made by the cryptocurrency startup Arabianchain technology and had claimed that it was the official cryptocurrency of the West Asian city. This led to the major rally in the increase of the price of the coin.

    Dubai Government’s response to DubaiCoin

    The Dubai Government had responded conveying that it was not an official digital coin or cryptocurrency of the country and warned the investors claiming it to be a phishing scam. The government had denied it to be the official cryptocurrency and also added that the cryptocurrency was not approved by any official authority.

    The government also warned that the website that was promoting the campaign was a phishing site which is designed to steal the information of the users accessing the website. The surge of the coin had brought it to the notice of the Dubai Electronic Security Centre after which it issued the statement.

    The cryptocurrency which was trading at USD 0.17 had seen a surge to USD 1.13 as of 27 May 2021.

    How does Bitcoin consumes more electricity than a whole country like Argentina?
    Bitcoins are considered to be one of the best cryptocurrencies available in themarket and has the largest market capitalization among cryptocurrencies. Butother than the volatility recently a new controversy has raised against thedigital coin. In this article let’s look at how this cryptocurrency…
    StartupTalkyAlan Joseph

    How Common is Crypto around the Globe
    How Common is Crypto around the Globe

    Arabianchain Technology

    The Arabianchain Technology that founded the DubaiCoin claims that it provides the first public, decentralized and blockchain driven on an agreement in the MENA region. The company has denied making any claims such as the digital coin being the official cryptocurrency of Dubai and also added that the website was fake.

    The company has conveyed that they haven’t made any claims and mentioned the website URL and said that it was fake and a scam. They also added that the press release was published on the Dub-pay site.

    How to Invest in DubaiCoin from India

    Since there was a surge of 1000 % in the value of DubaiCoin it is obvious that everyone would want to invest into it. However it should be noted that the cryptocurrency hasn’t officially been made the digital coin of Dubai and the Dubai government has also rejected the claim.

    However, the digital coin is not available on any cryptocurrency exchange platforms but DubaiCoin is available for exchange at HitBTC and Cryptopia. If you are interested in the digital coin then you will be able to get it by exchanging your Bitcoin or Binance coin at exchanges where there is availability of DubaiCoin.

    What do Experts say about Shiba Inu Coin? Should you Invest in it?
    Buy Shiba Inu Coin using WazirX [https://wazirx.com/invite/nvhzcbzt]
    StartupTalkyAlan Joseph

    Conclusion

    The press release mentioned that DubaiCoin will soon be used for the purchase of goods and services both online and offline and the cryptocurrency is expected to replace the traditional fiat currency of the country.

    FAQ

    Can you invest in DubaiCoin in India?

    As of now DubaiCoin is unavailable on any major exchange but traders can exchange bitcoin or Binance coin with DubaiCoin at exchanges where DubaiCoin is available.

    Is Bitcoin allowed in Dubai?

    Yes trading in bitcoin is allowed in Dubai.

    Is Dubai coin fake?

    According to Dubai Media Office, DubaiCoin cryptocurrency was never approved by any official authority. The website promoting the coin is an elaborate phishing campaign that is designed to steal personal information from its visitors.

  • Why did China ban Cryptocurrencies Transactions and How it affected the market?

    One of the major countries in the world China has banned any transactions and financial products related to cryptocurrency in the country. The Chinese government had earlier bought certain regulations towards these financial assets. Let’s look at the reason for the ban and how it has affected the cryptocurrency market.

    About the Ban on Cryptocurrency by China
    Earlier Restrictions by China on Cryptocurrency
    The Recent Regulations of China on Cryptocurrency
    Impact of the Regulation by China on the Businesses of Cryptocurrency
    FAQ

    About the Ban on Cryptocurrency by China

    The regulators of China have increased the restrictions on the financial institutions and the payment companies from providing various services that are related to cryptocurrency which is a fresh crackdown on the cryptocurrency market.

    Most of the new rules laid down by the regulators are considered to be an extension of the previous ban and are expected to fill the loop holes that were present after the previous restrictions in the country which allowed certain payment firms and financial institutions to continue in the cryptocurrency field.

    Earlier Restrictions by China on Cryptocurrency

    The earlier restrictions made clear that China had considered cryptocurrencies to be an illegal tender and did not accept the digital coins or provide any services related to it.

    In the year 2013, the Chinese government had defined bitcoin to be a virtual commodity and allowed their citizens to trade the digital coins. But later in the same year, the financial regulators of China including the PBOC had banks and other financial companies from providing any services related to bitcoins.

    Later in the year 2017, the country had banned Initial Coin Offerings (ICOs) in order to eliminate the financial risk and to save the investors of their country. The ICO rules also banned the cryptocurrency exchanges to convert the legal tenders into cryptocurrencies or converting cryptocurrencies into legal tenders.

    The restrictions that were laid down in 2017 had let a lot of cryptocurrency exchanges and the trading platforms to shut down and shift their services from China to other countries. According to a report from PBOC around 88 virtual currency trading platforms and around 85 ICO platforms had withdrawn from the market by 2018.

    What do Experts say about Shiba Inu Coin? Should you Invest in it?
    The cryptocurrencies such as Bitcoin and Dogecoin had been surging its value inthe recent years. The meme-based Dogecoin had reached its all-time high beingpart of the top 10 cryptocurrencies according to the market capitalization.Other than Bitcoin and Dogecoin there is a new cryptocurrency crea…
    StartupTalkyAlan Joseph

    The Recent Regulations of China on Cryptocurrency

    Three financial industry Associations have directed all the financial institutions and payment companies to not offer any services related to cryptocurrencies to their clients such as currency exchanges, trading, registration, clearing and settlement.

    Additionally, the institutions were banned from providing cryptocurrency trust, saving or pledging services or even issuing any financial products related to cryptocurrencies. Even the services related to cryptocurrencies such as insurance and derivatives trading is also banned in the country.

    The decision was taken collectively by three major regulators of China which include the China Bank Association, the National Internet Finance Association of China and the Payment and Clearing Association of China. The decision was posted by the People’s Bank of China (PBOC).

    The firms are also asked to step up in monitoring the flow of money which are involved in cryptocurrency trading.

    China Ban on Cryptocurrency
    China Ban on Cryptocurrency

    Will Cryptocurrency be taxable in India?
    Cryptocurrencies have become very much popular in India and there are many talksthat these digital coins will soon be banned by the Government of India. ACrypto Bill is expected to be announced anytime from the government and thereare talks that there will be a twin tax introduced by the governme…
    StartupTalkyAlan Joseph

    Impact of the Regulation by China on the Businesses of Cryptocurrency

    The new regulations bought in by China have made it difficult for the individuals to buy cryptocurrencies using various payment channels and this could also impact the businesses of the cryptocurrency miners in the country by making it harder for them to exchange the mined cryptocurrencies for Yuan.

    Even the banks and the financial institutions will face challenges in analyzing the flow of money that is related to cryptocurrency. In response to the regulations laid down by China, the bitcoin association of Hong Kong had replied to their tweet saying for the people who are new to bitcoin, it is compulsory for the People’s Bank of China to ban bitcoin at least once in a bull run.

    After a day on the ban of cryptocurrencies in China there has been a fall in value of cryptocurrencies such as bitcoin, Ethereum, Binance coin, Dogecoin, Litecoin, Polkadot and many others.

    The bitcoin has been the lowest price since January 2018. The market capitalization value of the cryptocurrencies had declined from USD 2.5 trillion to USD 1.5 trillion which is a 38 % contraction.

    FAQ

    What did China say about Cryptocurrency?

    The People’s Bank of China reportedly said virtual currencies can’t be used as a form of payment because they aren’t real currencies.

    Why is Cryptocurrency banned in China?

    China banned Cryptocurrency to curb money laundering.

    No, It is not legal to buy Bitcoin in China.

    Conclusion

    Chinese regulators consider cryptocurrencies to be a potential threat to their national currency Yuan. This had led the People’s Bank of China to launch its own digital currency. The regulations is expected to create a negative impact on a lot of people that are related to the cryptocurrency market.

  • Why Elon Musk is not launching his own Cryptocurrency?

    Elon Musk is an American entrepreneur and a Business Magnate. He is the founder, Chief Engineer and CEO of SpaceX, CEO, product architect and an early-stage investor of Tesla, founder of the Boring company and also the co-founder of Nueralink and OpenAI.

    He is one of the richest men in the world. Elon Musk has been posting a series of tweets on the major cryptocurrencies such as Bitcoin and Dogecoin from the past few months. Let’s look at why Elon Musk is not launching his own cryptocurrency.

    Why Elon Musk is known as Father of Dogecoin?
    Elon Musk’s View on Cryptocurrencies
    Reason Why Elon Musk is not launching his own Cryptocurrency
    Elon Musk’s Tweet
    FAQ

    Why Elon Musk is known as Father of Dogecoin?

    Elon Musk is regarded as the father of Dogecoin. He was the major reason for this volatile meme currency to increase its market capitalization and for a lot of users to invest their money into it. He has also promoted bitcoin and Dogecoin through a several number of tweets on his twitter platform.

    He has also had a lot of optimistic views about the cryptocurrencies especially bitcoins and dogecoins. He had posted a tweet where he conveyed that there are a lot of chances that cryptocurrencies will be the future currency on the planet.

    Elon Musk’s View on Cryptocurrencies

    While a lot of financial managers and investors have always been pessimistic about these digital coins and always regarded them as a bubble, Elon Musk on the other hand always stayed optimistic. Even Tesla has bought bitcoins worth billions of dollars.

    The company had also started accepting bitcoin as a payment method for purchasing their products. But recently they had stopped accepting this cryptocurrency.

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    Reason Why Elon Musk is not launching his own Cryptocurrency

    The main reason which was quoted by the company for the stoppage of accepting bitcoins as a payment gateway was due to the environmental harm caused by the digital coin. This was a major controversy against the billionaire as he was the one who promoted it and later claimed that bitcoins were causing a lot of pollution.

    Elon Musk had posted a tweet which conveyed that the company will no longer accept bitcoins as a payment method as mining bitcoins require a lot of electricity and the major source of electricity is from coal and this leads to a lot of pollution and due to the reasons regarding sustainability.


    He had also conveyed that the company Tesla will not sell any of their bitcoins and the company would start accepting cryptocurrency as a payment method as soon as the bitcoin miners would move to a sustainable source of energy.

    Environmental Sustainability can be one of the major reasons for Elon Musk to not launch his own cryptocurrency. But Elon Musk had conveyed that they were looking for other cryptocurrencies that use less than 1% of bitcoins energy for transactions.

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    Elon Musk’s Tweet

    A twitter user had recently asked Elon Musk, why he was not creating his own cryptocurrency from the scratch which would do everything he requires technically and have a lot of dev support and wouldn’t have a high concentration of ownership initially.

    Elon Musk had replied to the tweet saying that, if only Dogecoins won’t be able to do it, he said he would look in for creating another one.


    FAQ

    What Cryptocurrency does Elon Musk like?

    Elon Musk actively supports volatile cryptocurrency Dogecoin.

    Did Elon Musk sell Bitcoin?

    Elon Musk Clarified that Tesla has not sold its Bitcoin, but Tesla has stopped taking Bitcoin as a mode of payment for its cars.

    Does Elon Musk invest in Cryptocurrency?

    Elon Musk has actively supported dogecoin, a cryptocurrency that started as a joke which portrays a shiba inu dog.

    Conclusion

    Elon Musk had recently promoted Dogecoin while hosting a live show on the TV. Dogecoin is the fourth largest cryptocurrency in the market and has increased more than 659 % during the year. However, Elon Musk considers that the digital coin has a long way to go.

  • How to buy Dogecoin Cryptocurrency in India? (Step by Step procedure)

    Dogecoin was created in 2013 by Jackson Palmer (Adobe Employer) $ Billy Palmer (Software Engineer). What began as a joke, is now making investors rich. It’s thrilling to see that there are people out there willing to buy Dogecoin for a higher price. That’s what keeps on driving more and more traffic.

    This joke cryptocurrency has risen above 26,000% in the past 6 months. Of course, it has competitors but they are nowhere close to Dogecoin.

    Elon Musk, with his charming little tweets and launched this cryptocurrency to new heights just like he did with SpaceX. Young people idolize him for being rich and cool. His tweets spiff up the currency which leads to rising value.

    Everybody wants a slice of this cake. You must want it too. Therefore, we bring you answers to the most asked question i.e., How to buy Dogecoin in India?

    Dogecoin
    Dogecoin

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    How to buy Dogecoin?

    Coinbase, which the top cryptocurrency trading place, does not allow Dogecoin. At this point, you should understand what exactly is cryptocurrency.

    What is cryptocurrency?

    Cryptocurrency is a digital asset that is designed to be used over the internet. It is decentralized which means the government has no control over it.

    Here is the step-by-step procedure to buy Dogecoin in India:

    • Install trustworthy and reputed crypto trading platforms such as WazirX, CoinDCS, Bitbns, Zebpay, or Coinswtich.
    • Set up your account through registration and verification of KYC. (Remember to enable 2-factor authentications to make it super secure.)
    • Add your bank and UPI details.
    • After you deposit money into the exchange, you can use the same to buy Dogecoin or any other cryptocurrency for that matter.
    • You can buy Dogecoin through a Credit card, Debit card, or other e wallets like Mobiwik, Bhim transfer.

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    FAQ

    Who owns most bitcoin?

    Satoshi Nakamoto, the cryptocurrency’s pseudonymous investor owns most bitcoin.

    Did Warren Buffet invest in Bitcoin?

    Warren Buffet told CNBC that “I don’t have any Bitcoin. I don’t own any cryptocurrency, I never will,”.

    Why is Dogecoin a joke?

    Dogecoin started in 2013 as a joke to the “doge” meme that was all over the internet at the time. But It is now the fifth-largest cryptocurrency in the world.

    Conclusion

    Now you can start trading Dogecoins too. A quick tip: Keep an eye on Elon Musk’s tweets to track the path of your investments. Also, remember to be safe while doing such transactions and beware of frauds.

  • Top 10 Best Cryptocurrencies to invest in 2021

    The popularity of cryptocurrencies has been increasing over the years. We would have seen huge returns provided by these cryptocurrencies, with the promotion of these coins by Elon Musk and his company. Let’s look at the top cryptocurrencies in the market which you can choose to invest in in the year 2021.

    Bitcoin
    Ethereum
    Binance Coin
    Doge Coin
    Tether
    Cardano
    Litecoin
    Bitcoin Cash
    XRP
    Shiba Inu Coin
    FAQ

    Bitcoin

    Bitcoin is considered to be the king of cryptocurrencies moreover the term cryptocurrency was bought into the limelight because of bitcoins. They have the highest liquidity value compared to any other cryptocurrency in the market.

    Bitcoin is a decentralized digital coin with no restrictions. It is widely accepted across the globe and the increase in popularity of bitcoins has led companies such as Tesla to accept it as a payment gateway.

    The market capitalization of bitcoin is USD 1,067,761,831,980 and the current price of one bitcoin is around USD 57,048.95.

    Ethereum

    Ethereum is a popular cryptocurrency after bitcoin. Ethereum is the second largest cryptocurrency in the market. Ethereum will let users to create smart contracts as it is a decentralized open-source blockchain. Ethereum is the second largest in market capitalization after bitcoin.

    The market capitalization of Ethereum is USD 482,724,167,431 and the current price of one Ethereum is around USD 4,156.17.

    Binance Coin

    Binance Coin would be the best option if you are looking to diversify your cryptocurrency investment. Binance which is the parent company of this cryptocurrency has a strong business history and has created utility tokens. Traders also can use Binance coins for purchasing other cryptocurrencies in the market through Binance Exchange.

    Binance Exchange is one of the fastest growing crypto exchanges in the crypto market.

    The market capitalization of the Binance coin is USD 103,328,372,259 and the current price of one Binance Coin is around USD 673.67.

    Doge Coin

    DogeCoin which was initially started as a meme has now has a huge market capitalization in the cryptocurrency market. It has provided huge returns to its investors in the recent times. The cryptocurrency’s price was hyped and increased by the Reddit users in the early 2021 and later it was further supported by Elon Musk. Recently Elon Musk’s company SpaceX had announced that it would take payments in the form of Doge Coins. In a recent tweet Elon musk tweeted that if users wanted Tesla to accept Dogecoin.


    The market Capitalization of Doge Coin is USD 64,411,150,712 and the current price of one Doge Coin is around USD 0.5.

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    Tether

    Tether is a different type of cryptocurrency; it is called a stable coin. This cryptocurrency’s value is derived from the fiat currencies such as USD, Euros, etc. Investors who require more stability and less amount of volatility in their investment would choose to invest into the stable coins.

    The market capitalization of Tether is USD 57,292,456,987 and the price of one Tether is around USD 1.00.

    Cardano

    Cardano is another popular cryptocurrency and is becoming a favourite one among the investors. This coin uses a different blockchain called as Ouroboros blockchain, which means that it has two blockchains instead of a single one. Most of the investors of Cardano are Japanese and it is popularly called as the Japanese Ethereum.

    The market capitalization of Cardano is USD 57,111,319,394 and its current price is around USD 1.78.

    Litecoin

    Litecoin is another top cryptocurrency and has a high liquidity value. Litecoin is similar to bitcoins in regards to supplying as there are only 84 million coins with a block reward. The average time for the miners to mine a Litecoin is around two minutes making it easier to mine. The increase in the popularity of these coins makes it the best of the altcoins.

    The market capitalization of Litecoin is USD 25,705,190,474 and its current price is around USD 384.43.

    How common are Cryptocurrencies around the world
    How common are Cryptocurrencies around the world

    Bitcoin Cash

    Bitcoin Cash became popular due to the stability concerns faced by bitcoin. The name bitcoin attached to this cryptocurrency has led the cryptocurrency to scale in the recent years and providing a huge market capitalization by catching the eyes of the investors.

    The market capitalization of Bitcoin cash is USD 29,505,644,297 and its current price is around USD 1,564.62.

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    XRP

    XRP is another popular and one of the to cryptocurrencies in the market. This coin is pre-mined and the mining procedure of XRP is less complicated compared to bitcoins. It is a native cryptocurrency for the products developed by Ripple Labs.

    The market capitalization of XRP is USD 53,135,015,798 and its current price is around USD 1.51.

    Shiba Inu Coin

    Shiba Inu Coin is one of the recent cryptocurrencies which has been surging in the top 100 of the cryptocurrency market. Ever since the recent dip in bitcoins, there has been a lot of attention given to this cryptocurrency as the investors are on the lookout for something big.

    Shiba Inu Coin has a market capitalization of USD 12,309,275,819 and its current price is around USD 0.00003114.

    FAQ

    What is the cheapest Cryptocurrency?

    Dogecoin is the cheapest cryptocurrency to purchase in 2021.

    Who owns the most bitcoin?

    Satoshi Nakamoto, the cryptocurrency’s pseudonymous investor owns the most bitcoin.

    What did Warren Buffett say about Bitcoin?

    Warren Buffet said that, ‘Cryptocurrencies basically have no value and they don’t produce anything,” Buffett also told CNBC last year that “I don’t have any cryptocurrency and I never will,”.

    Conclusion

    Most of the individuals believe that cryptocurrencies will have a huge market in the coming future and it would replace all the fiat currencies and the other half believe that the value of cryptocurrencies would just reduce over the time and consider it to be another bubble. However many investors have generated huge returns from investing in these asset classes.

  • Reasons Why the Indian government wants to Ban Cryptocurrency

    Indian Government is planning to introduce a new bill that will ban all the private cryptocurrencies in the country. The government has plans to ban cryptocurrencies such as bitcoin and Ethereum and to introduce a national cryptocurrency. The new bill is planned to be introduced in the lower house of the parliament.

    History of Cryptocurrencies in India
    Reasons for ban of Cryptocurrency in India
    Cryptocurrency and Regulation of Official Digital Currency Bill
    e-Kuber
    FAQ

    History of Cryptocurrencies in India

    This bill is not considered to be the first time the Indian Government has been against the purchase of digital assets in the country. In the year 2018, the Indian government panel had proposed to ban all the cryptocurrencies in the country and had suggested that the offenders would be put in jail for a period of 10 years.

    In the same year, the finance minister Arun Jaitley had said that The Government of India doesn’t consider the cryptocurrencies legal. He said that it is not considered as a digital asset or a payment method and that the Government would take all legal actions to stop the use of these digital coins for payment activities. The government had stated that it was not approved by them and it was illegal.

    The monetary regulator of the country had later banned the use of cryptocurrencies in the year 2018. The ban was after the reporting of a number of fraudulent activities related to cryptocurrencies. However, the ban was later removed by the Supreme Court of India in March 2020.

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    Reasons for ban of Cryptocurrency in India

    There has been a lot of anxiety and fear across the country regarding the ban of cryptocurrencies. It is said that there are around 75 Lakh Cryptocurrency owners in the country. Their holdings have a worth of up to $1 billion.

    One of the other major reasons for the ban of cryptocurrencies in the country is because of the Aadhar card. It is said that the ban of cryptocurrencies would have been already put in action several years ago by the Government without any intention.

    The unintentional ban is supposed to be when the government introduced the Jan Dhan-Aadhar-Mobile trinity during the rule of the Modi Government in India. Aadhar was a huge project undertaken by the country which required the citizens of India to register into the financial system of the country by using a unique identification number. The Government wanted to use that network to directly send subsidies.

    Brent Johnson who is the Chief executive of the San Francisco Santiago Capital which is U.S based company has said that Aadhar could be the reason for the Government to introduce the new bill in the country. Because the Aadhar card was a project to ensure that all the citizens had an account with the government, their ID’s and payments.

    As of March 2020, the unique identification authority has issued over 122 crore Aadhar cards in the country which covers up to 90% of the Indian population. Out of 110 crore bank accounts in the country around 96 crore accounts have been linked to Aadhar cards according to UIDAI.

    Brent Johnson also added that, if the mobile network connection is taken into consideration regarding the Aadhar card it would seem like it is safe for the Government of India to create a network to issue of its own cryptocurrency in the country which would be accessible to everyone.

    Bitcoin price in U.S Dollars
    Bitcoin price in U.S Dollars

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    Cryptocurrency and Regulation of Official Digital Currency Bill

    The bill that will be introduced is called as “Cryptocurrency and Regulation of Official Digital Currency Bill”.  The main intention of the bill would be to create an easy way to provide support to the new digital currency introduced by the Reserve Bank of India.

    The bill also concentrates on banning all the private cryptocurrencies in India. The ban will also improve the chances to increase the demand of the National Currency issued by the Government of India.

    It is considered that there will be certain exceptions because the Government of India would require the underlying technology of the bill which is the blockchain technology.

    Brent Johnson said that the government would most probably want to use the advantage of Aadhar cards to issue its own cryptocurrency and would want to avoid competitions.

    e-Kuber

    The recent move of the Reserve bank of India which allowed the retail investors of the country to register with e-kuber. It helps the retail investors to open an account with the portal which helps in purchasing government bonds in primary and secondary markets.

    This new portal has raised a curiosity amongst the people in the country. The market participants feel that this would be the portal for issuing the National Digital currency in the country.

    FAQ

    In Which countries Bitcoin is illegal?

    Inspite of its rising popularity, cryptocurrencies are illegal in these countries. Saudi Arabia, Algeria, Bolivia Algeria, Ecuador, Bangladesh, Nepal, Macedonia.

    Who is the richest Bitcoin owner?

    Satoshi Nakamoto, the founder of Bitcoin, rumored to own around 1 million Bitcoins.

    How safe is Cryptocurrency?

    Cryptocurrency is considered as one of the riskiest digital currency.

    Conclusion

    The Deputy Governor of RBI, BP Kanungo has told that an internal part of the Reserve Bank of India is working on the model for the cryptocurrency and that RBI would soon give more information regarding it. If they don’t ban cryptocurrency, many investors might get a new revenue stream and most of the youth will invest in it. However, the government has experts who knows better than us. Hence, we must respect whatever decision they take.