Those transacting in cryptocurrencies with unknown entities, particularly on international exchanges facilitating Peer-to-Peer (P2P) transactions, run the risk of their bank account being frozen. This may happen if the funds transferred in the transaction are 'tainted funds', i.e., coming from or going for illegal activities.
For example, if you sell cryptos on an international exchange and receive funds that come from terrorist or money laundering activities then your account may be frozen by the Indian law enforcement agencies. You may face similar consequences, if you buy cryptos on an international exchange and send funds that are used for terrorist funding/ money laundering. This may happen due to various Indian laws such as the Prevention of Money Laundering Act, 2002 (PMLA), etc getting violated.
Unknown entities essentially mean entities where the legitimacy of the funds of the buyer/seller has not been verified either by the exchange or the person itself. In India, laws like the PMLA mandates Virtual Digital Asset (VDA) exchanges including Peer to Peer (P2P) exchanges to ensure that their customers are KYC compliant.
There are many ways to buy or sell VDAs, such as cryptocurrencies, non-fungible tokens (NFTs), etc. One of the methods is directly buying VDAs from the seller, effectively bypassing VDA exchanges. This method is called direct P2P transaction. Another method is where VDA exchanges set-up a P2P marketplace and buyers directly communicate to transact. This is called a facilitated P2P transaction.
However, when dealing on an international P2P facilitating exchange or directly with another individual (direct P2P international or Indian), the onus of such verification is on the Indian individual transacting on the exchange. In such cases if the funds used in the transaction are 'tainted', both the transacting parties could face trouble such as bank accounts getting frozen.
Says Gaurav Mehta, a forensic expert providing consultancy services to the Indian government and founder of Catax, a VDA taxation assistance platform: "In my professional experience I have seen cases where the transacting parties failed to follow Indian laws like KYC or PMLA or others and then Indian authorities with help from international organisations and other forensic experts tracked down the source of the funds routed through crypto and started investigation process against the individuals involved and froze the Indian resident's bank account. Perpetrators primarily prefer to use crypto P2P on international exchanges or decentralised exchanges rather than using Indian P2P exchanges and others."
Here is an example of a direct P2P transaction: Mr. Shyam has 1 Ethereum (ETH), which he wants to sell for Rs 2 lakh. Mr Gopal wants to buy 1 ETH for Rs 2 lakh. So, both of them strike a deal, and Gopal transfers the money to Shyam's bank account. After a successful bank transfer, Shyam transferred 1 ETH to Gopal's VDA wallet. This concludes a direct P2P transfer of VDA.
Read on to know in what kind of situation bank accounts may get frozen due to P2P trades and how to reduce risk in P2P transactions.
What are the situations when bank accounts may get frozen in VDA P2P trades?
Receiving Tainted or Stolen Funds:"If you sell cryptocurrency and the buyer transfers tainted or stolen funds, law enforcement agencies may trace the transaction back to your bank account. Upon investigation, your account could be frozen,
The decision to freeze bank accounts is driven by various government agencies such as the Economic Offences Wing (EOW), Department of Cyber Crime, etc. Such directives are given when there is a suspicion of money laundering or terror financing. If there is a suspicion that a P2P investor is selling cryptos and the proceeds are used to finance any of the illegal activities, then their bank accounts could be frozen.
Third-Party Payments: "If you sold a VDA to 'Name A' but received payment from 'Name B,' this discrepancy could raise red flags. If, on investigation, Indian laws are found to have been violated then it could lead to your bank account being frozen.
Fraudulent Transfers Affecting Both Parties: "If the buyer has received 'tainted' funds and then transfers them to the seller, both parties are at risk. The bank accounts of both the buyer and the seller could be frozen, as they would both appear to be involved in the fraudulent activity.
"Engaging in any type of peer-to-peer (P2P) transactions on international exchanges carries the inherent risk of dealing with unknown individuals. In such cases, it is difficult to ascertain specific details about the person involved, including their background, the source of their acquired cryptocurrency, or the purpose behind their disposal of the cryptocurrency. Engaging in such transactions can unknowingly make you an accomplice to a crime, as being a purchaser of such a cryptocurrency means you may acquire proceeds from illegal activities,"
Will a P2P crypto investor's bank account be frozen if he complies with the Income Tax Act?
There is no guarantee that complying with income tax laws means that the P2P transaction is fine and legal.
"An individual's ITR has no bearing on the method of acquisition of crypto assets. Avoiding income tax on crypto purchases is going against the Income Tax Act, 1961. That said, even being tax compliant doesn't guarantee that an individual is not in violation of the PMLA act. The situation arises if they had purchased/sold crypto from unknown/unverified entities through P2P. This can lead to your bank assets getting frozen,"
How to reduce risk in VDA P2P trades?
In direct P2P transactions, the only way to reduce operational and legal risk is to do the KYC due diligence, on one's own. No exchange or anybody else is going to help in this regard.
In P2P facilitating exchanges, the KYC and funds verification process is a bit different. Some exchanges claim to take responsibility for conducting this process, while some are silent in this regard. While there are also some exchanges that claim to conduct KYC of their customers but do not explicitly make it clear whether Indian KYC laws are adhered to.
It is clear that in every P2P transaction -direct or via exchanges - thorough/foolproof verification of KYC would be difficult for an individual, therefore, these would always be risky.
Experts say that unless the individual is sure of the genuineness of the KYC process undertaken, they should avoid P2P in any form.
"Purchasing crypto through P2P must be avoided. There are crypto gateways that are compliant, do a user's KYC and help them purchase crypto; these are mechanisms that one can use to acquire crypto assets. P2P transactions through non-compliant exchanges can lead to you providing liquidity to bad/unknown actors and can lead to violation of PMLA Act, which could lead to an imprisonment term of 3 years or more and also a freeze on your assets,"
There are multiple foreign centralised VDA exchanges like Binance, KuCoin, OKK, and others and Indian VDA exchanges like WazirX that facilitate P2P trades. There are also several decentralised crypto exchanges, like Uniswap, etc., that also facilitate P2P crypto transactions.
"P2P trading on our exchange happens between two Indian residents. We also verify the KYC details such as Aadhaar, PAN and Bank accounts before allowing them to trade on Binance for P2P transactions,"
The problem is when an individual transacts on a VDA exchange's P2P marketplace, which does not comply with Indian KYC laws. Here, in this case, the risk of non-compliance with various Indian laws exists.

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The crypto community is reeling over an anonymous trader who turned a $1000 investment in a new Tron memecoin into The crypto community is reeling over an anonymous trader who turned a $1000 investment in a new Tron memecoin into $400,000. 
The memecoin in question is called Sunwukong and the Tron-based memecoin was created using the new Tron-based memecoin generator known as Sun Pump. 
The transaction was picked up by Blockchain analytics firm Arkham Intelligence which shared the details of the transaction while congratulating the trader. 
Congratulations to trader TDm2 for turning $1K into $400K on SUNWUKONG TDm2 bought $999.9 of SUNWUKONG before it exited @sunpumpmemes bonding curve 2 days ago. After Justin Sun changed his profile picture to Sun Wukong, TDm2’s tokens are now worth $403,187 — a >400x gain. 
SUNWUKONG is a memecoin based on the popular game “Black Myth: Wukong”. Arkham Intelligence tweeted. 
What is Sunwukong ?
Sunwukong is a memecoin inspired by a character named Wukong from a newly released Chinese folklore-based video game Black Myth. The memecoin was created using Sun pump, a Tron-based memecoin generator set to rival Solana’s Pump. fun. 
The game was launched on August 20 and has already amassed over 2.2 million players on Steam making it one of the most played games in the platforms record. 
According to DexScreener data, Sunwukong’s memecoin surged from around $3,000 to as high as $17 million, a gain of over 566,500% in less than 12 hours. 
However, the surge has cooled off slightly with the token dropping 1.6% from its all-time high. 
At the time of writing this report, Sunwukong is exchanging hands for $0.0118 surging by 24.0% in the last 24 hours with a maximum price of $0.0119 and a minimum price of $0.00843.
The memecoin currently has a market capitalization of over $12 million at the time of the report. 
Trader Yet to sell any token 
The anonymous trader in question here has yet to sell any single token from his profits according to Tron scan data. 
The memecoin generator used to create Sunwukong has already hit $1 million in revenue following its launch 12 days ago. The project aims to mirror the success of Pump fun launched by Solana which has generated $95 million in revenue since its launch in January. 
What to Know 
Memecoin trading while tending to be extremely lucrative can be very risky with double digits losses very prevalent among memecoin trades. Traders are advised to trade with money they can only afford to lose. 
Nairametrics earlier reported on a Shiba Inu trader who turned $2,700 to $1.2 million trading on Shiba Inu over two years. 

Lookonchain, a popular analytics platform, has made an interesting discovery, as a crypto trader has made 104 times profits by investing barely $650. The investor “TEP7…T1da” has invested in a meme coin called Sundog, where he had bought 6.87 million SUNDOG by investing  5,000 TRX (equivalent to $650) and selling them for 522,840 TRX ($68,000). 
All of this happened within seven hours of the interval, where he made a profit of $67.3K, more than 100 times the initial investment. The Lookonchain data has shown that the crypto trader still has 2.29 million SUNDOG,
How Sundog Is Performing Today?
2024 has been the year of meme-based cryptocurrencies, where so many tokens have emerged to new heights, making heavy profits for their holders. This comes more in the case of the Solana meme coins like dogwifhat, Popcat, and others like PEPE, which had the highest profits. Now Sundog has become one of those for this investor. 
Sundog is another dog-themed meme coin, which is valued at $0.080116, with a surge of 54.87% in the daily charts on Bitget. It has a trading volume of 66.47M, which is quite significant. The unsold investor’s tokens are now worth around $183,465.64 at this price. 
Final Thoughts
While the crypto market sentiments are neutral per the fear and greed index, this one single investor has made $67.3k in profits within just 7 hours. The investor invested $650 into the SUNDOG, which grew heavily immediately, making him 104 times his initial investment. However, this is not the case for every trader, as deep strategic approaches and continuous market analysis are crucial to understanding how the charts will move next. The crypto trader still holds 2.29 million tokens, worth more than $183,465.64 per current token price of $0.080116.

Seven individuals were arrested in Malaysia during a special operation targeting illegal bitcoin mining in Bandar Baru Salak Tinggi and Taman Putra Perdana. The operation, which involved coordinated efforts by law enforcement, focused on detecting and stopping bitcoin mining activities linked to electricity theft. The suspects, aged between 30 and 74, included three local men and four foreign nationals, none of whom had prior criminal records. During the raids, authorities seized 52 bitcoin mining machines, two vehicles, three laptops, and seven mobile phones, with the total value of the confiscated items estimated at RM250,000 ($57,110). The case is being investigated under various Malaysian legal provisions.

Date : 09 June 2024
Meme coins have made their mark, and it looks like they’re here to stay in the dynamic world of cryptocurrencies. A quintessential part of the crypto market, meme tokens like Dogecoin and Shiba Inu have firmly cemented their positions among the top cryptos by market cap and contributed significantly to driving mass adoption of crypto assets among users worldwide.
These digital currencies, inspired by internet memes and pop culture references, continue to gain significant attention long after the 2021 crypto bull run and seem all set to herald the bull run in 2024. At the time of writing, 7 of the top 10 best-performing cryptocurrencies in the market over the past 24 hours are memecoins. Since December 2023, the trading volume of memecoins has been trending higher. It spiked sharply on 1 March, crossing $641 million amid rising optimism in the crypto market and the potential arrival of altcoin season.
This blog post explores what meme coins are, their investment potential, and how to find meme gems early. It also highlights some of the top memecoins listed on Binance and many other crypto exchange platforms.
What Is a Meme Coin?
A meme coin is a type of cryptocurrency that derives its name, theme, or branding from popular internet memes or cultural references. These coins often have unique and catchy names, making them stand out in the crypto market. Memecoins typically aim to create a community-driven and fun environment for investors while capitalizing on the viral nature of memes to gain popularity and traction.
Top Meme Coins to Trade in 2024
In 2024, the cryptocurrency market has seen hype of meme coins from Solana and other ecosystems, attracting a significant number of traders and investors. We’ve selected a list of hot memecoins based on their price performance, user base, market cap, and recent upgrades.
Bonk (BONK)
Bonk (BONK) emerged as a notable memecoin in the aftermath of the FTX collapse at the end of 2022, aiming to uplift the Solana ecosystem during a challenging period. Launched with an innovative airdrop strategy, BONK distributed half of its token supply to creators of non-fungible tokens (NFTs), investors, and key figures within the Solana community to foster growth and engagement. The project was designed to counteract the dominance of few, promoting widespread use and development within the Solana blockchain by integrating with DeFi, gaming, and other decentralized applications (dApps). Created by Dexlab under anonymous founders, Bonk Inu seeks to establish a more inclusive and distributed community support system, with plans for a BonkDAO to guide its future development​​​​.
BONK's utility extends beyond the typical memecoin narrative; it aims to serve as the primary asset across all dApps on Solana, encouraging both existing members of the Solana community and newcomers to engage with the blockchain. The tokenomics of BONK include a vast supply of 100 trillion tokens, with significant portions dedicated to supporting the Solana ecosystem, including NFT projects, DeFi users, and developers. Despite comparisons to other popular memecoins like Dogecoin (DOGE) and Shiba Inu (SHIB), BONK distinguishes itself by focusing on supporting the development of the Solana network and its community rather than solely acting as a speculative asset. As of early 2024, despite a dip from its all-time high, analysts predict a promising future for $BONK , expecting it to set new records and contribute significantly to the resurgence of the Solana ecosystem​​​​.
Pepe (PEPE)
Pepe (PEPE) is a memecoin that has quickly risen to prominence in the cryptocurrency market since its launch in mid-April 2023. The project is inspired by the "Pepe the Frog" meme, a popular internet symbol, and has garnered attention by leveraging the meme's established community. Despite the project's claim of having no utility or known team and being created purely for entertainment, its market performance and key developments suggest otherwise.
Following its launch, PEPE experienced a rapid increase in value, with its market capitalization exceeding $420 million in less than three weeks, securing its place among the top 100 coins by total market capitalization at that time. This growth was propelled by its listing on notable crypto exchanges like Binance, which increased its accessibility and trading opportunities​​​​. As of March 2024, Pepe’s market cap exceeds $2.75 billion, having grown by over 11,500% since its launch last year and by over 632% in the past month alone.
The PEPE project incorporates features like the Pepe Bridge, which connects Ethereum, BNB Chain, and Arbitrum, facilitating the easy transfer of PEPE tokens across these networks. This interoperability is part of what has attracted investors, alongside the memecoin's integration into meme culture and its ability to tap into the viral appeal of internet memes. Despite its initial presentation as a project without direct utility, PEPE has introduced mechanisms such as staking, where token holders can earn rewards and a redistribution system that rewards long-term holders and contributes to the token's price stability. This combination of viral marketing, cultural resonance, and community engagement has positioned PEPE as a notable player among memecoins, contributing to its popularity and speculative investment potential despite the volatile nature of such assets.
Notcoin (NOT)
Notcoin is a new memecoin within the TON ecosystem, introduced in 2024 and quickly attracting over 35 million users. You can earn Notcoin by playing a simple game directly within the Telegram app, where clicking on an animated coin generates tokens. This integration makes it very accessible, especially for those new to cryptocurrencies. Bitcoin allows users to mine tokens through simple clicks within the Telegram app, making it accessible even to those new to cryptocurrencies. This memecoin has capitalized on the playful and engaging aspects of digital currencies, offering an easy entry point to the blockchain world for beginners​. Notcoin was listed as Binance and many other exchanges.
The game's appeal lies in its simplicity and integration with the widely-used Telegram platform, allowing users to earn Notcoin through interaction with an animated coin. Despite its classification as a memecoin, Notcoin has sparked significant interest and investment, reflecting its potential beyond just a digital collectible​. The project aims to transition from a game within an app to a recognized cryptocurrency on the TON blockchain. This move could potentially give real-world value to the Notcoins collected by users, further enhancing the appeal of the game and the overall TON ecosystem.
FLOKI (FLOKI)
Floki (FLOKI) is a memecoin that has distinguished itself within the cryptocurrency space through a unique blend of community focus, utility, and charity initiatives. With a Viking-themed community, Floki aims to extend its popularity far beyond just trading and memes. It has built a comprehensive ecosystem that includes a 3D NFT metaverse, DeFi utilities, educational content, NFTs, and a merchandise store. The project strongly emphasizes charitable actions, committing to building schools worldwide, starting with locations in Guatemala and Nigeria. Available on both the Ethereum and BNB Chain, Floki boasts a circulating supply of 9.57 trillion tokens out of a total supply of 10 trillion. The project incorporates a trade tax of 0.3% on decentralized exchanges and has implemented token burns to reduce supply and potentially increase value​​.
In terms of market performance, Floki experienced a 287% gain over the past year, taking its market cap to $1.54 billion. Despite facing challenges like regulatory scrutiny in certain regions, Floki's commitment to real-world utility and global charity has kept investor interest alive. The coin's ability to leverage meme culture while providing tangible utility through its ecosystem components sets it apart from many peers. As the cryptocurrency market grows in value and prominence, Floki's approach of blending internet culture with practical applications and charitable actions positions it as a noteworthy player among memecoins heading into 2024​​.
Dogwifhat (WIF)
Dogwifhat (WIF) emerged as a new entrant in the memecoin space, launching on the Solana blockchain in November 2023. It quickly garnered attention for its playful premise—a Shiba Inu character adorned with a hat, symbolizing a fun and uncomplicated approach to cryptocurrency. Unlike other cryptocurrencies that might carry a deeper socio-economic message, Dogwifhat's appeal lies in its simplicity and the whimsical nature of its theme. The project aims to stand out in the crowded memecoin market by leveraging the viral potential of internet culture without the pretense of disrupting the financial system. This straightforward and entertaining approach has resonated with a segment of the crypto community, leading to a significant market cap of $1.83 billion shortly after its launch, making it the fifth most popular memecoin as of early 2024​​.
The token's market performance has been notable, with its price increasing by over 994% since its launch as of early March 2024. In its relatively short time on the market, WIF achieved an all-time high of $1.85 in March 2024, showing a remarkable increase from its all-time low of $0.0677 in January 2024. Dogwifhat's popularity among investors can be attributed to its inclusion on major cryptocurrency exchanges like Binance, which has significantly boosted its visibility and trading volume. Dogwifhat has carved out a niche for itself in the Solana ecosystem, benefiting from the blockchain's high transaction speeds and low fees​​.
Wen (WEN)
Wen (WEN) is yet another popular memecoin from the Solana ecosystem, crafted as a unique blend of crypto culture and community engagement. Launched with a significant distribution event, WEN tokens were airdropped to over a million wallets, creating a widespread base of holders from the outset. This strategic move, along with the coin's engaging backstory and community-focused utilities, contributed to a remarkable 500% surge in its value shortly after launch, peaking at $0.0001378. The $WEN coin has registered an over 458% growth in the past month and a total growth of over 478% since launch, which saw it reach a market capitalization of nearly $200 million, underlining its popularity and rapid adoption within the Solana network​​​​.
WEN differentiates itself with a backstory that resonates with the crypto community's common queries and anticipations, symbolized by its name. The project's launch was not just about introducing another token but also about enhancing the Solana ecosystem's capabilities, notably through the introduction of a new fractional NFT standard. This innovative approach aimed to democratize ownership within the community, reflecting the communal aspect of crypto culture.
Coq Inu (COQ)
Coq Inu (COQ) has emerged as a notable player in the memecoin market, operating on the Avalanche C-Chain and marking its position as the first memecoin on this platform. Launched by a community-driven initiative, Coq Inu distinguished itself by providing liquidity to its entire coin supply. This led to an impressive market capitalization exceeding $218 million as of early 2024, following a growth of over 634% since launch. The project's total supply has surpassed 69 trillion tokens, indicating a significant level of participation and interest from the cryptocurrency community​​​​.
The appeal of Coq Inu among investors and the broader crypto community can be attributed to its innovative approach and the utility of its native token within the Avalanche ecosystem. Despite its playful nature, typical of memecoins, Coq Inu has gained attention for its potential in the digital currency market, offering a unique alternative for investors looking for a mix of humor and opportunity. The project has seen significant transformations within the meme coin space, contributing to its rising popularity and the growing trend of new meme coins moving towards newer blockchain platforms like Avalanche, known for more affordable gas fees and higher transaction speeds​​​​. Coq Inu stands out in this landscape for its early adoption of the Avalanche platform and its successful community-driven launch, positioning it among the trending meme coins as we move further into 2024​​​​.
Memecoin (MEME)
Memecoin (MEME), launched by 9GAG's CEO Ray Chan, has rapidly grown into a notable presence within the cryptocurrency meme sector, boasting a market capitalization of $200 million shortly after its launch and over $578 million at the time of writing. It was introduced to the market through a unique distribution strategy that included a firesale event and airdrops, aiming to distribute the supply and encourage participation within the ecosystem. The total supply of Memecoin is set at 69 billion coins, which are being released gradually over 18 months according to a vesting schedule. This strategy is designed to stabilize the price by preventing oversaturation. The coin's innovative launch has allowed early participants to realize significant returns on investment, underlining the strategic release approach to sustain the ecosystem's value and avoid price crashes​​​​.
The ERC-20 compatible token has leveraged 9GAG's significant online community, capturing the attention of crypto enthusiasts worldwide. With its value rising by over 154% in the past month, Memecoin has positioned itself among the top meme tokens, driven by its connection to the viral content platform 9GAG and creative engagement strategies like firesale pricing and airdrops to select token holders. The project's future, including its utility and integration into wider ecosystems, remains a focal point for its valuation and sustained interest within the meme coin market​​​​.
Baby Doge Coin (BABYDOGE)
Baby Doge Coin (BABYDOGE), launched in June 2021, has rapidly emerged as a significant player in the meme coin space, drawing inspiration from its "meme father," Dogecoin. Built on the BNB Chain for fast transactions and lower gas fees, Baby Doge aims to impress with its hyper-deflationary mechanism that rewards holders directly, enhancing its attractiveness and utility within the crypto community. The project's mission extends beyond the digital world, focusing on aiding dogs in need and showcasing a blend of cryptocurrency innovation and social impact​​. BABYDOGE has registered gains of over 107% over the past month.
The performance of Baby Doge Coin has been noteworthy, with a significant surge in its market value throughout 2023. By early 2023, BABYDOGE saw a remarkable 345% increase year-to-date, propelled by a combination of factors, including increased decentralized exchange volume, DeFi activity, and visibility on Binance's trending list, despite not being listed for trading on Binance itself. This surge in interest and value has pushed Baby Doge Coin into the ranks of the top 80 crypto assets by market capitalization. A notable development for the project was the launch of a community token burn portal, where the team promised to burn additional tokens in response to community burns, further driving interest and investment in BABYDOGE.
Silly Dragon (SILLY)
Silly Dragon (SILLY), a Solana-based memecoin, emerged in the cryptocurrency landscape with a notable entrance in December 2023, quickly capturing the attention of investors and traders within the digital asset community. Its launch was marked by a significant value increase, achieving a market capitalization of nearly $10 million within weeks and experiencing a staggering 900% surge in value just two days after its debut. Although it trades lower from its ATH, SILLY is still up by over 62% in the past month, with its market cap just above $61 million. The coin's popularity was fueled by its embodiment of internet culture and social media trends, particularly leveraging the appeal of meme-driven investment strategies. Unlike traditional cryptocurrencies, Silly Dragon focuses on the power of memes and internet humor, incorporating popular online jokes into its branding and identity. This approach has attracted a younger, internet-savvy audience, contributing to its rapid rise in the crypto space​​.
The financial journey of Silly Dragon has been marked by extraordinary stories of success, including a trader who turned 1 SOL (approximately $62 at the time) into a staggering 43 million SILLY tokens, ultimately reaching a value of $2 million in just 22 days. This meteoric rise propelled the market capitalization of SILLY past the $123 million mark. While some community members speculated about the role of insider trading, the coin's success story underscores the volatile and unpredictable nature of the cryptocurrency market. The genesis of Silly Dragon can be traced back to a tweet by Anatoly Yakovenko, Solana's CEO, which proclaimed 2024 as "the year of the silly dragon," further emphasizing the playful and engaging nature of this memecoin. Silly Dragon's approach, focusing on community and culture, has sparked debates within the crypto community regarding its sustainability and potential as a long-term investment​​.
Book of Meme (BOME)
Book of Meme (BOME) is an experimental memecoin that blends memes, decentralized storage solutions, and degen shitcoin trading and gambling into a unified ecosystem. This project seeks to preserve the dynamic nature of meme culture in a digital collection known as the BOOK OF MEME, immortalizing each entry on the blockchain. With BOME available on Solana, and employing Arweave and IPFS for primary storage, it sets a precedent for creating a decentralized social media sphere based on meme culture for content and interaction. $BOME was launched around mid-March 2024, experiencing a 44,000% rise in value during its pre-sale, taking its market cap surge to over $618 million within a week. At the time of writing, interest in the memecoin remains high, with its 24h trading volume exceeding $2.7 billion.
The memecoin was launched with a mission to harness the power of decentralized technology to safeguard and perpetuate the ever-evolving meme culture. By utilizing blockchain technology, it aims not only to entertain but also to provide a new form of engagement and value exchange within the web3 ecosystem. The integration of BOME into the Solana blockchain and plans for future expansions to Bitcoin inscriptions underscore its ambition to offer immutable forever storage, making every meme shared through its platform an enduring part of digital history​​.
MAGA (TRUMP)
The Trump MAGA memecoin has significantly impacted the cryptocurrency world by leveraging the political brand of former President Donald Trump. This memecoin, which rides on the wave of political events and Trump's considerable media presence, has seen an extraordinary market performance. As of early 2024, MAGA experienced a remarkable surge of over 800% within 30 days, peaking at an all-time high price of $11.15 in March from a starting price of just $0.252 in January. Since its launch, MAGA has risen by over 66,000%, and its market cap has soared to over $461 million as of March 2024.
Mechanism Capital, a crypto hedge fund, disclosed a unique investment strategy focusing on Trump-related meme coins and NFTs, predicting that Trump's ability to monopolize media attention, especially during the U.S. presidential election cycle, would drive interest and value in these assets. This strategy is not predicated on Trump's success in the elections but rather on his continuous media presence, which is expected to keep these tokens in the spotlight. The fund's approach highlights the intersection of politics, investment strategy, and meme culture within the cryptocurrency space. Despite the potential risks associated with such investments, including the possibility of Trump disavowing the coin, MAGA memecoin's market cap soared to $96 million, demonstrating its substantial traction within the crypto community​​​​​​.
Evergreen Favorite Meme Coins: Dogecoin and Shiba Inu
Over the years, many meme coins have come and gone. While some have fizzled out, some have managed to hold on to their charm. But no other meme coins have captured the market’s attention quite like Dogecoin and Shiba Inu. DOGE and SHIB have undoubtedly established themselves as perennial favorites among the global crypto community.
Dogecoin (DOGE)
Originally created in 2013 as a light-hearted parody of cryptocurrencies, Dogecoin has now become a force to be reckoned with in the market. What was once considered a joke has transformed into a symbol of community-driven digital currency. Its delightful Shiba Inu dog logo and the Doge meme references have won the hearts of investors and internet enthusiasts alike.
Dogecoin's enduring popularity can be attributed to its strong community, which actively engages in social media campaigns, charitable projects, and fundraising initiatives. Notable events such as the DOGE community's sponsorship of NASCAR driver Josh Wise back in 2014 and the recent involvement of prominent figures like Elon Musk have further propelled the coin into the mainstream.
The "DOGE-1 Mission to the Moon," funded entirely with Dogecoin, was launched by SpaceX in Q1 2023, further cementing its utility and market presence. A significant driver of optimism around Dogecoin is its strong community support, which continues to grow globally. Rumors of Twitter accepting Dogecoin as a payment option following Musk's takeover resulted in a price spike, demonstrating the community's influence on its valuation.
Shiba Inu (SHIB)
Inspired by Dogecoin, Shiba Inu emerged as a meme currency in 2020, gaining rapid attention from the crypto community. With its cute Shiba Inu dog logo and a rapidly growing community, SHIB has garnered a significant following.
One of the standout features of SHIB is the ambitious "Dogecoin Killer" tagline, which aims to rival Dogecoin's popularity and market position. The project's developers have implemented unique tokenomics, including a decentralized ecosystem called the "ShibaSwap," designed to give holders greater control over their assets and incentivize long-term participation.
A key focus for Shiba Inu in 2024 is the introduction of digital identity through .SHIB top-level domain names, in collaboration with Web3 startup D3 Global. This initiative aims to bridge the gap between Web2 and Web3, allowing SHIB holders to utilize customizable domain names across various platforms, including email clients, online stores, and Web3 dApps. Additionally, Shiba Inu has made headlines with its record-breaking token burns in 2023, a strategy aimed at reducing supply and potentially increasing the value of the remaining tokens. Over 76 billion SHIB tokens were burned throughout the year, with a significant spike in the SHIB burn rate observed towards the year's end.
While DOGE and SHIB have amassed substantial popularity, you should approach them with careful consideration as investments. As leading meme tokens, their value can fluctuate rapidly, and it is crucial to conduct thorough research and make informed decisions before allocating funds.

Crypto Peer-to-peer (P2P) transactions have gained popularity recently due to their convenience and ease of use. However, knowing the potential risks associated with P2P transfers is important. we have prepared this guide to offer insights into the common P2P scams in crypto transactions. We’ll also explore some essential tips to protect yourself from falling victim to these fraudulent activities
Can a Person Scam You with P2P Transfers?
Yes, scammers can take advantage of P2P transfers to defraud unsuspecting victims. They may employ sophisticated tactics to manipulate transactions, misrepresent payments, or impersonate reputable platforms or individuals. By understanding the common crypto P2P scams, you can minimize the risk of falling prey to these fraudulent schemes.
How Do Crypto P2P Scams Work?
P2P scams exploit the trust and anonymity inherent in peer-to-peer transactions. Scammers use various techniques to deceive individuals and trick them into releasing funds or sensitive information. Understanding these scams and staying vigilant to safeguard your money and digital assets is crucial.
What Are the Common Crypto P2P Scams, and How to Spot Them?
Proof of Payment Scams
Scammers can digitally manipulate payment screenshots to falsely claim they have fulfilled their part of the transaction. They pressure you into releasing funds or digital assets without verifying the receipt of payment. 
SMS Scams
SMS scams are a type of proof of payment scam where fraudsters send SMS text messages to victims that appear similar to notifications sent by banks or wallet apps. The messages falsely claim that the victim has received a payment from their counterparty. 
Here’s how you can protect yourself from proof of payment scams:
1. Always check your bank account or e-wallet to confirm the receipt of funds before marking a transaction as complete..
2. Be cautious and skeptical if your counterparty insists on releasing funds before confirming the payment's arrival.
3. To avoid falling for SMS scams, always verify the receipt of funds by checking your bank account or crypto wallet directly rather than blindly trusting the content of the text message. 
Chargeback Scams
Fraudsters initiate chargebacks, retracting payments made to their counterparties. They may use third-party accounts to process payments, making it easier to reverse transactions. 
One such example is the counterparty offering to pay you with a cheque deposit. This is because requesting a chargeback from cheque payments is very easy, making it most likely a scam. 
To avoid chargeback scams:
1. Verify that the buyer's name on the payment details matches their verified name on the P2P platform.
2. Do not accept payments from third-party accounts, as they pose a higher risk of chargebacks.
3. If someone insists on paying via a cheque, consider it a red flag and file an appeal immediately.
Man-in-the-Middle (MitM) Scams
In this scam, a fraudster pretends to be a reputable merchant on Binance, KuCoin, Bybit, etc and contacts victims through external channels, such as Telegram, WhatsApp, or social networks. They provide their bank account details and a link to a P2P ad and ask victims to confirm by copying them into the order page’s P2P chat. 
Unknowingly, the victim shares the scammer’s bank account details with an unrelated buyer on Crypto P2P Platform, who also has no clue about the scam. The victim releases crypto to the unrelated buyer, who sends their money to the scammer’s bank account instead.
Reversing a transaction or having the customer service team intervene and resolve the issue is impossible in such cases. Since the victim communicated with the fraudster and obtained the details via external communication outside the Crypto Exchange platform, and the funds were transferred to a third-party account unconnected to Crypto Exchange Merchant Crypto Exchange's customer support cannot offer a solution. 
To protect yourself from MitM scams, you must:
1.Only communicate within the P2P platform and avoid engaging in transactions outside of it.
2. Remind buyers that third-party transfers violate P2P transaction policies.
3. Double-check the counterparty's bank account details directly on the Crypto Exchange platform.
4. Do not trust offers or information received on external channels when making P2P trades on Crypto Exchange Platform.
Triangle Scams
Triangle scams involve two scammers simultaneously placing orders with the same seller. They exploit the seller's trust and urgency to release funds without proper verification. 
Here’s how a triangle P2P scam unfolds: 
Scammer A makes an order for 5,000 USDT worth of crypto (order A), and Scammer B makes an order worth 6,000 USDT (order B). Scammer B then transfers 5,000 USDT to the seller. 
At the same time, Scammer A marks order A as paid. The seller releases the crypto to Buyer A, thus completing order A for 5,000 USDT. Scammer B sends another 1,000 USDT to the seller, provides the 5,000 USDT payment proof they got from Buyer A, and pressures the seller to release digital assets under order B. 
Users who conduct triangle scams aim to pressure the seller to release funds immediately without verifying the transfer. It can be easy to release funds without verifying who initiated the transfer. If you're not careful, you could release the funds twice but only receive half or less of the assets you bought. 
To avoid falling victim to triangle scams during P2P trading, you must:
1. Confirm the receipt of all funds from pending P2P transactions before releasing any assets.
2. Be cautious with proof of payment provided by counterparties, as scammers may attempt to reuse them.
Crypto Exchange platform Imposter Scams
Scammers impersonate Crypto Exchange platform employees to deceive users and steal their funds. They contact potential victims through unofficial emails or social media accounts, requesting personal information and initiating fraudulent transactions. 
They could ask you to share your email address on the P2P chat window, claiming that the Crypto Exchange platform P2P Escrow service needs this information to confirm payment. They could then send you a phishing email similar to official Crypto Exchange platform communication and trick you into releasing your crypto first to receive payment. 
To stay safe from Crypto Exchange platform imposter scams, do the following:
1. Crypto Exchange platform will never ask you to complete a P2P transaction via email. Always release funds only after receiving payment through the P2P platform.
2. Never share personal information or offline contact information on the chat. 
3. Ensure that payments are submitted using the counterparty's specified payment method and that the name on the account matches the counterparty's verified name on Crypto Exchange platform..
4. Stay cautious of external offers or information received through unofficial channels. 
5. You can check the Crypto Exchange platform Official Verification Center to confirm the authenticity of the relevant channels.
Conclusion
While P2P transactions offer convenience, it's crucial to be aware of common scams and take necessary precautions to protect yourself. By understanding how these scams work and following the provided security tips, you can minimize the risk of falling victim to P2P fraud in the crypto market. 
Stay vigilant, be skeptical of offers that seem too good to be true, and always verify transactions and payment receipts before releasing any funds or digital assets. By following best practices, such as conducting transactions within Crypto Exchange platform's chat system, double-checking payment details, and reporting suspicious behavior to customer support, you can minimize the risk of falling victim to P2P crypto scams and protect your investments. 

Cryptocurrency has become extremely popular over the past few years, but many consumers and investors may be wondering what all the commotion is about. Why would anyone choose cryptocurrency when their local currency works just fine for most things? Why would someone invest in a cryptocurrency?In fact, there are a lot of advantages to using and investing in cryptocurrency. Here are the top eight benefits to consider.8 benefits of cryptocurrency1. Transaction speedIf you want to send someone money in the United States, there are few ways to move money or assets from one account to another faster than you can with cryptocurrency. Most transactions at U.S. financial institutions settle in three to five days. A wire transfer usually takes at least 24 hours. Stock trades settle in three days.But one of the advantages of cryptocurrency transactions is that they can be completed in a matter of minutes. Once the block with your transaction in it is confirmed by the network, it's fully settled and the funds are available to use.2. Transaction costsThe cost of transacting in cryptocurrency is relatively low compared to other financial services. For example, it's not uncommon for a domestic wire transfer to cost $25 or $30. Sending money internationally can be even more expensive.Cryptocurrency transactions are usually less expensive. However, you should note that demand on the blockchain can increase transaction costs. Even so, median transaction fees remain lower than wire transfer fees even on the most congested blockchains.3. AccessibilityAnyone can use cryptocurrency. All you need is a computer or smartphone and an internet connection. The process of setting up a cryptocurrency wallet is extremely fast compared to opening an account at a traditional financial institution. There's no ID verification. There's no background or credit check.Cryptocurrency offers a way for the unbanked to access financial services without having to go through a centralized authority. There are many reasons a person may be unable or unwilling to get a traditional bank account. Using cryptocurrency can allow people who don't use traditional banking services to easily make online transactions or send money to loved ones.4. SecurityUnless someone gains access to the private key for your crypto wallet, they cannot sign transactions or access your funds. However, if you lose your private key, there's also no way to recover your funds.Furthermore, transactions are secured by the nature of the blockchain system and the distributed network of computers verifying transactions. As more computing power is added to the network, it becomes even more secure.Any attack on the network and attempt to modify the blockchain would require enough computing power to confirm multiple blocks before the rest of the network can verify the ledger's accuracy. For popular blockchains such as Bitcoin (BTC -0.17%) or Ethereum (ETH -0.15%), that kind of attack is prohibitively expensive.Instances of hacked cryptocurrency accounts are usually tied to poor security at a centralized exchange. If you keep your crypto assets in your own wallet, it's far more secure.5. PrivacySince you don't have to register for an account at a financial institution to transact with cryptocurrency, you can maintain a level of privacy. Transactions are pseudonymous, which means you have an identifier on the blockchain -- your wallet address -- but it doesn't include any specific information about you.This level of privacy can be desirable in many cases (both innocent and illicit). That said, if someone connects a wallet address with an identity, all of the transaction data is public. There are several ways to further mask transactions, as well as several coins that are privacy-focused to enhance the private nature of cryptocurrency.6. TransparencyAll cryptocurrency transactions take place on the publicly distributed blockchain ledger. There are tools that allow anyone to look up transaction data, including where, when, and how much of a cryptocurrency someone sent from a wallet address. Anyone can also see how much crypto is stored in a wallet.This level of transparency can reduce fraudulent transactions. Someone can prove they sent money and that it was received or they can prove they have the funds available for a transaction. 7. DiversificationCryptocurrency can offer investors diversification from traditional financial assets such as stocks and bonds. While there's limited history on the price action of the crypto markets relative to stocks or bonds, so far the prices appear uncorrelated with other markets. That can make them a good source of portfolio diversification.By combining assets with minimal price correlation, you can generate more steady returns. If your stock portfolio goes down, your crypto asset may go up and vice versa. Still, crypto is generally very volatile and could end up increasing the volatility of your overall portfolio if your asset allocation is too heavy on crypto.8. Inflation protectionMany see Bitcoin and other cryptocurrencies as offering protection against inflation. Bitcoin has a hard cap on the total number of coins that will ever be minted. So, as the growth of the money supply outpaces the growth in the Bitcoin supply, the price of Bitcoin ought to increase. There are numerous other cryptocurrencies that use mechanisms to cap supply and can act as a hedge against inflation.

1. Ethereum (ETH)The first Bitcoin alternative on our list, Ethereum (ETH), is a decentralized software platform that enables smart contracts and decentralized applications (dApps) to be built and run without any downtime, fraud, control, or interference from a third party. The goal behind Ethereum is to create a decentralized suite of financial products that anyone in the world can freely access, regardless of nationality, ethnicity, or faith. This aspect makes the implications for people in some countries more compelling because those without state infrastructure and state identifications can get access to bank accounts, loans, insurance, or a variety of other financial products. Ethereum uses ether, its platform-specific cryptographic token. Ether (ETH) is used to pay validators who stake their coins for their work for the blockchain, as a payment method off-chain, and as an investment by speculators.On Sep. 15, 2022, Ethereum completed its long-anticipated transition to the proof-of-stake (PoS) validation method. PoS is less energy intensive because it removes incentivized mining, makes the blockchain more efficient, and allows it to scale better.Ether (ETH), launched in 2015, is currently the second-largest digital currency by market capitalization after Bitcoin, although it lags behind the dominant cryptocurrency by a significant margin. Trading at around $1,652 per ETH on August 25, 2023, Ether's market cap of almost $199 billion was less than half of Bitcoin's.2. Tether (USDT)Tether (USDT) was one of the first and most popular of the stablecoins—alternative cryptocurrencies that aim to peg their market value to a currency or other external reference point to reduce volatility. Because most digital currencies, even major ones like Bitcoin, have experienced frequent periods of dramatic volatility, Tether and other stablecoins attempt to smooth out price fluctuations to attract users who may otherwise be cautious.Tether’s price is tied directly to the U.S. dollar because the developers claim to hold one U.S. dollar for every circulating USDT. This system allows users to more easily make transfers from other cryptocurrencies back to U.S. dollars in a more timely manner than actually converting to standard currency.# Launched in 2014, Tether describes itself as “a blockchain-enabled platform...to make it easier to use fiat currency digitally.” Effectively, this cryptocurrency allows individuals to utilize a blockchain network and related technologies to transact in traditional currencies while minimizing the volatility and complexity often associated with digital currencies.On July 22, 2023, Tether was the third-largest cryptocurrency by market capitalization, with a market cap of $83.8 billion and a per token value of $1.00.$3. XRPXRP is the native token for the XRP Ledger, created as a payment system by Ripple in 2012. The XRP Ledger uses a consensus mechanism called the XRP Ledger Consensus Protocol, which doesn't use proof-of-work or proof-of-stake for consensus and validation. Instead, client applications sign and send transactions to the ledger servers. The servers then compare the transactions and conclude whether they are candidates for entry into the ledger.The servers then send the transaction candidates to validators, who work to agree that the servers got the transactions right and record the ledger version.On July 22, 2023, XRP had a market cap of about $39.3 billion and traded around $0.74.4. Binance Coin (BNB)Binance Coin (BNB) is a utility cryptocurrency that operates as a payment method for the fees associated with trading on the Binance Exchange. It is the third-largest cryptocurrency by market capitalization. Those who use the token as a means of payment for the exchange can trade at a discount.Binance Coin’s blockchain is also the platform on which Binance’s decentralized exchange operates. The Binance Exchange was founded by Changpeng Zhao and is one of the most widely used exchanges in the world based on trading volumes.  Binance Coin was initially an ERC-20 token that operated on the Ethereum blockchain. It eventually launched a mainnet and uses a PoS consensus model. On July 22, 2023, Binance Coin had a $37.3 billion market capitalization, with one BNB valued at around $242.55.5. USD Coin (USDC)Another stablecoin, USD Coin, also pegs its price to the U.S. dollar using fiat-collateralized reserves, which means it holds an amount of fiat currency equal to the amount of USD Coin in circulation. USD Coin was launched in 2018 by the Centre Consortium, which consists of Circle and Coinbase. Because Circle is based in the U.S., it is subject to regulation, making USDC a regulated stablecoin.As of July 22, 2023, USD Coin had a market cap of $30.8 billion and a price per coin of $0.9999.6. Cardano (ADA)Cardano (ADA) is an "Ouroboros proof-of-stake" cryptocurrency created with a research-based approach by engineers, mathematicians, and cryptography experts. The project was co-founded by Charles Hoskinson, one of the five initial founding members of Ethereum. After disagreeing with the direction that Ethereum was taking, he left and later helped to create Cardano.The team behind Cardano created its blockchain through extensive experimentation and peer-reviewed research. The researchers behind the project have written more than 120 papers on blockchain technology across various topics. This research is the backbone of Cardano.Due to this rigorous process, Cardano stands out among its PoS peers and other prominent cryptocurrencies. Cardano has also been dubbed an "Ethereum killer" because its blockchain is said to be capable of more. That said, Cardano is still in its early stages, with a long way to go regarding DeFi applications. Cardano aims to be the world's financial operating system by establishing DeFi products similar to Ethereum's. It hopes to provide solutions for chain interoperability, voter fraud, and legal contract tracing, among other things. On July 22, 2023, Cardano had the seventh-largest market capitalization at $10.9 billion, and one ADA traded for around $0.31.7. Solana (SOL)Founded in 2017, Solana is a blockchain platform designed to support decentralized applications (dApps). Also referred to as an 'Ethereum killer,' Solana performs many more transactions per second than Ethereum. Additionally, it charges lower transaction fees than Ethereum.Solana and Ethereum can utilize smart contracts, which are essential for running cutting-edge applications, including decentralized finance (DeFi) and non-fungible tokens (NFTs).The cryptocurrency running on the Solana Blockchain is called Solana (SOL). Since its inception, its price has risen tremendously. Solana had a market capitalisation of $8.4 billion and was valued at around $21 on July 22, 2023, making it the eighth-largest cryptocurrency by market cap.8. Dogecoin (DOGE)Dogecoin (DOGE), seen by some as the original “memecoin,” caused a stir in 2021 as its price skyrocketed. The coin, which uses an image of the Shiba Inu as its avatar, is accepted as a form of payment by some major companies.Dogecoin was created by two software engineers, Billy Markus and Jackson Palmer, in 2013. Markus and Palmer reportedly created the coin as a joke, commenting on the wild speculation of the cryptocurrency market.As of July 22, 2023, Dogecoin’s market capitalization was $ 9.9 billion, and one DOGE was valued at around $0.07, making it the ninth-largest cryptocurrency.9. Tron (TRX)The TRON Foundation launched in 2017 to provide digital content makers full ownership rights through tokenization and dApps. The thought behind TRX's launch was to give developers a way to create dApps. In 2018, TRON purchased BitTorrent, a popular file-sharing program, and integrated it into the TRON blockchain.TRON's native token, TRX, is used to pay for on-chain transactions and as a payment method on exchanges. Anyone holding TRX can apply to become a Super Representative, someone with the authority and obligation to validate transactions and create new blocks for the blockchain. The cryptocurrency's consensus mechanism is a tweaked version of Ethereum's proof-of-stake called designated proof-of-stake (DPoS), where the network votes in the super reps.On July 22, 2023, TRX had a value of $0.085 and a market cap of $7.64 billion.10. Polygon (MATIC)Polygon (MATIC) was initially developed as a layer-2 solution to address the issues with Ethereum network congestion and traffic. Recent innovations have allowed it to become a multi-chain system where blockchains can work together using Ethereum's virtual machine.Polygon uses three layers: Ethereum, Heimdall, and Bor. Bor is a block-producing layer that compiles transactions into blocks and creates a periodic snapshot of the blockchain. The validators on the Bor layer are called block producers. The blocks from the producers are aggregated by the Heimdall layer, which validates all of the blocks created since the Bor layer's last snapshot. It then creates a Merkle tree and publishes the Merkle root to the Ethereum mainnet.Polygon hosts smart contracts, dApps, NFTS, and has several other solutions for developers to choose from.On July 22, 2023, MATIC traded at $0.76 and had a market cap of $7.09 billion.

A Bitcoin Exchangе-Tradеd Fund (ETF) is a financial product dеsignеd to makе it еasiеr for invеstors to gain еxposurе to Bitcoin, a popular cryptocurrеncy, without actually owning thе digital assеts thеmsеlvеs. It combinеs thе bеnеfits of both traditional stock trading and cryptocurrеncy invеstmеnts.What is a Bitcoin ETF?A Bitcoin ETF is a fund that tracks thе pricе of Bitcoin, much likе how a stock ETF tracks thе pеrformancе of a group of stocks. Instеad of buying and storing Bitcoin dirеctly, invеstors can buy sharеs of thе ETF, which rеprеsеnt ownеrship in a pool of Bitcoin. Thеsе sharеs arе tradеd on stock еxchangеs, making it accеssiblе to a broadеr rangе of invеstors, including thosе who arе hеsitant to dеal with thе complеxitiеs and sеcurity concеrns of cryptocurrеncy ownеrship.How Doеs It Work?Crеation: A financial institution or assеt managеr, oftеn rеfеrrеd to as thе ETF issuеr, crеatеs a Bitcoin ETF. Thеy acquirе a cеrtain amount of Bitcoin and dеposit it with a custodian, which is rеsponsiblе for safеguarding thе assеts.Sharеs: Thе ETF issuеr thеn crеatеs sharеs, which rеprеsеnt ownеrship in thе Bitcoin hеld by thе fund. Thеsе sharеs arе typically offеrеd to thе public through stock еxchangеs, and invеstors can buy or sеll thеm just likе rеgular stocks.Pricе Tracking: Thе ETF's sharе pricе is dеsignеd to closеly mirror thе pricе of Bitcoin. This is achiеvеd through various mеchanisms, including thе purchasе or salе of additional Bitcoin to balancе thе fund's holdings.Advantagеs of Bitcoin ETFs:Accеssibility: Bitcoin ETFs arе tradеd on traditional stock еxchangеs, making thеm accеssiblе to invеstors who might not bе comfortablе with cryptocurrеncy еxchangеs or wallеts.Rеgulation: ETFs arе subjеct to rеgulatory ovеrsight, providing invеstors with a lеvеl of sеcurity and transparеncy not always prеsеnt in thе cryptocurrеncy markеt.Liquidity: ETFs offеr liquidity, allowing invеstors to еasily buy or sеll sharеs at markеt pricеs during trading hours.Divеrsification: Somе Bitcoin ETFs hold a divеrsifiеd portfolio of cryptocurrеnciеs and othеr assеts, rеducing risk comparеd to holding a singlе cryptocurrеncy.Tax Efficiеncy: In somе jurisdictions, trading Bitcoin ETFs may havе tax advantagеs ovеr trading Bitcoin dirеctly.Risks and Considеrations:Markеt Volatility: Likе Bitcoin itsеlf, Bitcoin ETFs can еxpеriеncе pricе volatility, which can lеad to substantial gains or lossеs for invеstors.Fееs: Invеstors may incur managеmеnt fееs and othеr costs associatеd with ETFs, which can affеct ovеrall rеturns.Countеrparty Risk: Thеrе is somе lеvеl of risk associatеd with thе custodian or issuеr of thе ETF.Tax Implications: Tax trеatmеnt can vary by jurisdiction, and invеstors should bе awarе of thе tax implications of ETF invеstmеnts.Not Actual Ownеrship: Whеn you invеst in a Bitcoin ETF, you don't dirеctly own thе undеrlying Bitcoin; you own sharеs rеprеsеnting its valuе.Conclusion:A Bitcoin ETF offеrs a convеniеnt way for traditional invеstors to gain еxposurе to Bitcoin's pricе movеmеnts without thе nееd to dirеctly purchasе and storе cryptocurrеnciеs. It combinеs thе rеgulatory protеctions and accеssibility of traditional stock invеstmеnts with thе potеntial for rеturns associatеd with thе cryptocurrеncy markеt. Howеvеr, it's еssеntial to undеrstand thе risks, costs, and tax implications bеforе invеsting in a Bitcoin ETF. Always conduct thorough rеsеarch and considеr your financial goals and risk tolеrancе bеforе making any invеstmеnt dеcisions.

Sam Bankman-Friеd (SBF) is a prominеnt figurе in thе cryptocurrеncy and blockchain industry known for his involvеmеnt in thе world of cryptocurrеncy trading, dеcеntralizеd financе (DеFi), and as thе foundеr of FTX, a lеading cryptocurrеncy еxchangе. Hеrе, wе'll dеlvе into dеtails about SBF, his background, achiеvеmеnts, and contributions to thе crypto spacе.Background and Education: Sam Bankman-Friеd was born in 1992 and raisеd in California, USA. Hе attеndеd thе Massachusеtts Institutе of Tеchnology (MIT), whеrе hе studiеd physics. His acadеmic background in physics providеd a strong foundation in analytical thinking and problеm-solving, skills that havе provеn valuablе in thе world of cryptocurrеncy and financе.Early Carееr: Aftеr complеting his studiеs at MIT, SBF initially workеd as a tradеr at Janе Strееt Capital, a propriеtary trading firm that is known for its quantitativе trading stratеgiеs in various financial markеts. His еxpеriеncе at Janе Strееt hеlpеd him gain a dееp undеrstanding of trading and financial markеts, which latеr provеd to bе instrumеntal in his cryptocurrеncy vеnturеs.Alamеda Rеsеarch: In 2017, Sam co-foundеd Alamеda Rеsеarch, a quantitativе cryptocurrеncy trading firm. Alamеda Rеsеarch quickly bеcamе onе of thе most influеntial and succеssful trading firms in thе crypto industry. It is known for its high-frеquеncy trading stratеgiеs and for providing liquidity to cryptocurrеncy markеts, еspеcially in thе highly volatilе world of digital assеts.FTX Exchangе: Sam Bankman-Friеd is pеrhaps most rеnownеd for founding FTX, a cryptocurrеncy еxchangе that launchеd in 2017 undеr thе company namе FTX Trading Ltd. FTX has gainеd rеcognition for offеring a widе rangе of trading products, including spot and futurеs markеts for numеrous cryptocurrеnciеs and tokеnizеd assеts.Onе of FTX's standout fеaturеs is its commitmеnt to innovation. Thе platform has introducеd various novеl products, such as prеdiction markеts, tokеnizеd stocks, and options for cryptocurrеncy trading. Thеsе innovations havе contributеd to FTX's rapid growth and its appеal to tradеrs and invеstors.Philanthropy and Effеctivе Altruism: In addition to his work in thе cryptocurrеncy industry, SBF is known for his activе involvеmеnt in thе еffеctivе altruism movеmеnt. Effеctivе altruism is a philosophy and social movеmеnt that aims to usе еvidеncе and rеason to dеtеrminе thе most еffеctivе ways to improvе thе world. SBF has plеdgеd significant donations to various charitablе causеs and organizations, rеflеcting his commitmеnt to making a positivе impact on global issuеs.Crypto Advocacy: SBF is also a vocal advocatе for cryptocurrеncy and blockchain tеchnology. Hе has bееn activеly involvеd in discussions about rеgulatory framеworks and industry standards. His еfforts to еngagе with rеgulators and advocatе for a balancеd and transparеnt approach to cryptocurrеncy rеgulation dеmonstratе his dеdication to еnsuring thе rеsponsiblе growth of thе crypto industry.Trading Philosophy: SBF is known for his disciplinеd and data-drivеn approach to trading and invеsting. Hе еmphasizеs thе importancе of risk managеmеnt and constantly improving stratеgiеs. This approach has еarnеd him a rеputation as a rational and analytical tradеr in thе crypto spacе.Succеss and Rеcognition: Sam Bankman-Friеd's succеss and contributions to thе cryptocurrеncy industry havе not gonе unnoticеd. Hе has bееn fеaturеd in various mеdia outlеts and has rеcеivеd rеcognition for his work, both as a cryptocurrеncy еntrеprеnеur and as a philanthropist.In summary, Sam Bankman-Friеd, known as SBF, is a prominеnt figurе in thе cryptocurrеncy and blockchain spacе. His background in trading, his co-founding of Alamеda Rеsеarch, and his crеation of thе FTX еxchangе havе had a significant impact on thе cryptocurrеncy industry. Bеyond his еntrеprеnеurial еndеavors, hе is also known for his philanthropic еfforts and advocacy for еffеctivе altruism. SBF's disciplinеd and data-drivеn approach to trading, as wеll as his dеdication to improving thе crypto industry, makе him a notablе and influеntial figurе in thе crypto world. Plеasе notе that dеvеlopmеnts in his carееr or contributions to thе industry bеyond my last knowlеdgе updatе in January 2022 may not bе includеd in this ovеrviеw.

1. XRP and Ripplе: XRP is oftеn associatеd with Ripplе, thе company that crеatеd it. Howеvеr, XRP and Ripplе arе not thе samе. Ripplе is a tеchnology company that aims to improvе cross-bordеr paymеnts and providеs various solutions for financial institutions. XRP, on thе othеr hand, is thе digital assеt usеd within thе Ripplе еcosystеm to facilitatе thеsе transactions.2. Fast Transaction Spееd: Onе of thе notablе fеaturеs of XRP is its incrеdiblе transaction spееd. XRP transactions can sеttlе in just a fеw sеconds, making it onе of thе fastеst cryptocurrеnciеs in tеrms of transaction confirmation. This spееd is a rеsult of XRP's uniquе consеnsus algorithm, which is diffеrеnt from thе proof-of-work usеd by Bitcoin.3. Prе-minеd Cryptocurrеncy: Unlikе Bitcoin and many othеr cryptocurrеnciеs that arе minеd through a procеss of solving complеx mathеmatical puzzlеs, XRP was prе-minеd. This mеans that all 100 billion XRP tokеns wеrе crеatеd whеn thе nеtwork was launchеd in 2012. Ripplе holds a significant portion of thеsе XRP tokеns, which has bееn a subjеct of dеbatе and controvеrsy in thе cryptocurrеncy community.4. Dеflationary Naturе: XRP has a dеflationary dеsign. In еvеry XRP transaction, a small amount of XRP is dеstroyеd, which is known as a "burn" mеchanism. This aims to rеducе thе total supply ovеr timе, potеntially incrеasing thе valuе of еach rеmaining XRP.5. Global Partnеrships: Ripplе, as a company, has еstablishеd partnеrships with numеrous financial institutions and banks worldwidе. Thеsе partnеrships arе aimеd at utilizing XRP for cross-bordеr paymеnts to makе thеm morе еfficiеnt and cost-еffеctivе. Howеvеr, thе adoption of XRP in thе banking sеctor has bееn somеwhat gradual and subjеct to rеgulatory challеngеs.6. XRP Lеdgеr: XRP transactions occur on thе XRP Lеdgеr, a dеcеntralizеd lеdgеr that is opеn sourcе. It opеratеs on a uniquе consеnsus mеchanism callеd thе Ripplе Protocol Consеnsus Algorithm (RPCA), which is distinct from thе proof-of-work and proof-of-stakе mеchanisms usеd by othеr cryptocurrеnciеs. This consеnsus algorithm contributеs to XRP's spееd and scalability.7. Lawsuit with thе SEC: Onе of thе most significant еvеnts in XRP's history is thе lawsuit brought by thе U.S. Sеcuritiеs and Exchangе Commission (SEC) against Ripplе and its еxеcutivеs in Dеcеmbеr 2020. Thе SEC allеgеd that XRP was an unrеgistеrеd sеcurity. This lеgal battlе had a substantial impact on XRP's pricе and markеt sеntimеnt.8. Community and Dеvеlopеr Support: XRP has a dеdicatеd community of supportеrs and dеvеlopеrs. Ripplе has also initiatеd programs likе thе XRP Lеdgеr Foundation to furthеr thе dеvеlopmеnt and adoption of thе XRP Lеdgеr. Thе community activеly contributеs to thе XRP еcosystеm, crеating a widе rangе of applications and usе casеs.9. XRP as a Bridgе Currеncy: Onе of thе main usе casеs for XRP is as a bridgе currеncy in cross-bordеr transactions. It can bе usеd to facilitatе valuе transfеr bеtwееn diffеrеnt fiat currеnciеs, acting as an intеrmеdiary that hеlps rеducе thе timе and cost of intеrnational monеy transfеrs.10. Environmеntal Impact: XRP's consеnsus mеchanism is oftеn praisеd for its еnеrgy еfficiеncy comparеd to proof-of-work cryptocurrеnciеs likе Bitcoin. As it doеsn't rеly on еnеrgy-intеnsivе mining procеssеs, XRP transactions havе a lowеr еnvironmеntal footprint.In conclusion, XRP is a uniquе cryptocurrеncy with a focus on improving cross-bordеr paymеnts. Its spееd, dеflationary naturе, and partnеrships with financial institutions havе madе it a prominеnt playеr in thе cryptocurrеncy spacе. Howеvеr, it has also facеd rеgulatory challеngеs, particularly in thе Unitеd Statеs, which havе had a significant impact on its markеt dynamics and adoption. Dеspitе thеsе challеngеs, XRP rеmains a cryptocurrеncy with a strong and dеdicatеd community, aiming to transform thе world of intеrnational financе

Shiba Inu

Introduced in August 2020 as a direct rival to Dogecoin, Shiba Inu (SHIB) is a crypto operating on the Ethereum blockchain. Utilizing a proof-of-stake consensus algorithm, SHIB selects validators based on the quantity of SHIB tokens they possess, rather than computing power. An individual or group known as “Ryoshi” anonymously created this asset, aiming to establish a decentralised community of SHIB holders capable of exchanging tokens and participating in governance decisions. Its value has displayed remarkable volatility, with the primary usage revolving around speculative trading rather than acting as a payment method. Presently, SHIB is trading at $0.000008276, boasting a market capitalization of nearly $4.8 billion.

Dogecoin

In 2013, Dogecoin emerged as a crypto, playfully paying homage to the renowned internet meme featuring a Shiba Inu dog. Differing from Bitcoin’s finite supply, Dogecoin does not have a limit on the number of coins that can be generated. It employs a proof-of-work consensus algorithm, where miners utilize computational power to solve intricate mathematical problems, validating transactions and earning Dogecoin rewards. While Dogecoin gained popularity in early 2021 due to endorsements from celebrities like Elon Musk, its value has exhibited high volatility. Primarily utilized for online tipping and microtransactions, Dogecoin can also be exchanged for other cryptos or traditional fiat currency. Currently, Dogecoin is trading at $0.06564, with a total market value amounting to $9.2 billion.

BoneShiba Swap

Boneshiba Swap (BONE) is an automated market maker (AMM) and decentralized exchange (DEX) deployed on the Binance Smart Chain (BSC) in May 2021. As the native token of the Boneshiba ecosystem, it powers a range of DeFi applications, including yield farming, staking, and liquidity provision. By depositing their assets into liquidity pools, users can engage in token trading on the platform. BONE holds significance in governance decisions, such as determining which new tokens are added and adjusting trading fees. While gaining popularity within the BSC ecosystem, BONE’s value has demonstrated remarkable volatility. Currently, it is traded at $1.29, with a total market capitalization of $296 million.

Floki

Floki Inu is a meme coin centered around a dog theme, self-proclaiming itself as “a movement.” It draws inspiration from Elon Musk’s Shiba Inu dog and has established a community referred to as the “Floki Vikings.” Within its extensive ecosystem, Floki Inu offers several captivating elements. Notably, there is “Valhalla,” an immersive metaverse game where participants can generate FLOKI tokens by creating avatars. Additionally, FlokiFi, the ecosystem’s native DEX, stands out as a remarkable feature, facilitating staking, swapping, and yield farming activities. Presently, Floki is traded at $0.00001846, and has a market capitalization of $174 million.

Pepe Coin

Pepe Coin is a recently introduced crypto that derives inspiration from the well-known “Pepe the Frog” meme. This project boasts a circulating supply of 391 trillion tokens, with more than 90% securely locked in liquidity pools. Since its inception, Pepe Coin has witnessed a noteworthy upsurge in market capitalization, nearly reaching $348 million and it is currently trading at $0.00000082. While investing in meme coins entails considerable risk, Pepe Coin stands out as a token that has garnered substantial popularity.

*** The realm of meme coins presents considerable risks, largely due to their ties to hype, social media, and inherent volatility. Despite this, their potential for substantial rewards makes them an alluring investment prospect for risk-tolerant individuals. As of 2023, meme coins like Dogecoin, Shiba Inu, Pepe, Floki, and BoneShiba Swap have gained prominence, drawing interest from dedicated communities. Nevertheless, it remains imperative to conduct comprehensive research and grasp the possible risks and rewards before making any investment choices related to meme coins.

1. Business development representative

National average salary: $60,108 per year

A business development representative (BDR) is a sales specialist who acquires new business contacts and develops relationships with customers on behalf of an organization. Their duties include locating potential clients and developing long-term relationships with them, using marketing campaign analytics and leads to identify sales opportunities, identifying client requirements and suggesting products or services for them. Organizations working with cryptocurrencies employ BDRs to increase their client base and encourage interest in new crypto products.

2. Technical writer

National average salary: $62,042 per year

Technical writers create content about complex topics and condense highly technical information into a format that people who aren't experts can understand. They create content guides about technology, including cryptocurrency concepts, and write brochures, manuals and journal articles. They may conduct research about different cryptocurrencies and crypto tools and work with technical experts to ensure their writing is accurate and comprehensive.

3. Marketing manager

National average salary: $73,484 per year

A marketing manager establishes promotional policies for an organization and oversees its marketing campaigns. They may collaborate with advertising and promotional managers to plan events, analyze marketing data, establish new campaign strategies, create estimates for campaign costs and evaluate the success of marketing campaigns. When working with cryptocurrency, marketing managers may also collaborate with technical and financial teams to develop strategies for advertising the currency.

4. Financial analyst

National average salary: $74,631 per year

A financial analyst makes predictions about the performance of an investment by collecting and analyzing data about the current industry and the wider financial environment. They make recommendations about investments, compile and analyze financial reports, meet with management and executives to assess an organization's prospects, evaluate financial data to identify trends and present financial reports. Financial analysts who work with cryptocurrency also monitor market trends and currency values and incorporate that data into their analyses.

5. Web developer

National average salary: $82,404 per year

A web developer writes code for both the user-facing front end and the information-supplying back end of a website. They construct new websites while also maintaining and updating existing ones. In the cryptocurrency sector, they may work for crypto companies and update their websites to collect and analyze user feedback while also improving the physical appearance of the site and overall site security.

6. Project manager

National average salary: $86,015 per year

A project manager is responsible for the daily management of a project and the individuals working on it. They create project schedules and timelines, delegate tasks, plan the project budget, manage its resources and handle constraints. In the crypto sector, they manage the creation of new cryptocurrency tokens and coins and assist with the design of new exchanges. They also report the progress of the project to company executives and investors and ensure client satisfaction.

7. Cryptocurrency trader

National average salary: $95,077 per year

A cryptocurrency trader is a finance specialist who uses cryptocurrencies to enhance investments. They research crypto market trends, use data analysis and trading metrics to identify market inefficiencies and opportunities, determine how to improve risk management techniques and develop, maintain and improve crypto trading models and systems. Traders often work with other industry specialists to identify trading opportunities and assess market data.

8. Blockchain developer

National average salary: $104,686 per year

A blockchain developer designs, builds and maintains blockchains, which are databases used in cryptocurrency to secure digital transactions. Blockchain developers may design this architecture, or they may build additional applications for existing blockchains. Their duties might include writing and testing code, troubleshooting issues and collaborating with software engineers. They also stay updated on changing blockchain technologies to make updates and optimize applications.

9. Information technology (IT) security specialist

National average salary: $107,688 per year

An IT security specialist detects potential security breaches and works to prevent information security incidents from affecting systems. Security can be especially important for the crypto industry, and security specialists working in this field manage the security of cryptocurrency exchanges to prevent hackers from infiltrating them. They protect user data and information by tracking threats and fraudulent transactions.

10. Product manager

National average salary: $111,989 per year

A product manager oversees the entire product development process and supervises sales or product teams to ensure they accomplish all their tasks efficiently. In the cryptocurrency industry, their duties might involve creating, reviewing and updating product roadmaps to assist with the creation of new crypto products and coins, prioritizing and assigning tasks for the development team and brainstorming ideas with executives and other relevant parties. They might also write feature descriptions for the design and technical teams and lead the product prototype development process.

11. Software engineer

National average salary: $114,680 per year

A software engineer designs and develops mobile and web applications and software systems for businesses. In the cryptocurrency industry, they may use programming languages like C++ and Python to work on blockchains, substacks and analytical programs. Their other duties may include testing systems and adapting them to new specifications, documenting system issues for future maintenance, performing regular updates, recommending upgrades and collaborating with other engineers and developers.

12. Data scientist

National average salary: $123,927 per year

Data scientists examine and translate data into comprehensive information and write computer algorithms and code to better understand data sets. They evaluate how to best model data, identify solutions to complex problems using raw data and machine learning, collaborate with data engineers and communicate analytical results to an organization's executives. In the cryptocurrency sector, they may use blockchain technology to assess the performance of a cryptocurrency, identify future price movements and compile relevant data.

13. Machine learning engineer

National average salary: $155,591 per year

A machine learning (ML) engineer creates artificial intelligence systems to optimize and automate processes. They use statistics, programming, data science and software engineering to design predictive models and programs that allow machines to identify patterns and perform tasks automatically. The automated predictive models, machine learning systems and other tools they design often assist with large-scale crypto projects and mining activities.

Following is a list of some of the most infamous crypto exchange failures to date

Mt. Gox

Mt. Gox was a cryptocurrency exchange that operated between 2010 and 2014. Mt. Gox once accounted for over 70% of all Bitcoin transactions. In 2014, Mt. Gox was hacked and thousands of Bitcoins were stolen; the company filed for bankruptcy shortly thereafter. In late 2021, creditors and the Tokyo District Court reached an agreement on the Mt. Gox rehabilitation plan, closing a seven and half year legal battle.

Bitfinex

The 2016 security breach in the Hong Kong-based crypto exchange, Bitfinex, was another episode that shook the cryptocurrency industry to its core. At the time, the exchange was among the largest crypto trading platforms by market cap. On August 2, 2016, the platform experienced a lethal cyber-attack in which anonymous hackers stole 119,756 BTC, valued at around $72 million at that time (and $3.2 billion according to the current prices). After the hacking attack, the company immediately launched an investigation with law enforcement agencies. On top of that, it also offered a $3.5 million reward for anyone who would provide any information leading to the recovery of the stolen amount. However, only a small portion of the stolen funds has been recovered to this day. Since the incident, Bitfinex has improved its security and introduced several safety measures. The exchange continues to provide its crypto trading platform to users worldwide and is among the ten largest exchanges by trading volume.

QuadrigaCX

Quadriga failure is another notable example of how poor administrative management can lead to disasters in crypto exchanges. Founded in 2013 by Quadriga Fintech Solutions, QuadrigaCX was the biggest cryptocurrency exchange in Canada at that time. The platform abruptly stopped functioning in 2019 and filed for bankruptcy with over 215.7 million CAD in liabilities and 28 million CAD in assets. The company announced they had lost the private keys and access to the cold wallet holding customer funds. On investigation of the matter, it was revealed that the company had a serious lack of control and oversight with the platform and users’ funds. All of the money under the company’s custody was controlled by only one person, i.e., Gerald Cotten – founder and CEO of QuadrigaCX. Unlike most centralized cryptocurrency exchanges, QuadrigaCX had no bank account or accounting system. The entire setup was being run by an encrypted laptop owned by Cotten. Further investigations by the Ontario Security Commission (OSC) discovered that Cotten was using customers’ money to pay other customers, proving the exchange to be a Ponzi scheme. Moreover, Cotten was also using this money to finance his trading losses and lavish lifestyle.

Cryptopia

Cryptopia was a New Zealand-based cryptocurrency exchange that faced a security breach in January 2019, which resulted in the loss of millions of dollars’ worth of crypto funds. The platform had been operating since 2014 and had built a solid reputation over the years. The breach, thus, came as a shocking blow to the entire crypto community and made everyone think about how even reliable exchanges can be vulnerable to hackers. The subsequent investigation revealed that the breach was a result of a highly sophisticated and intricate hacking operation. The hackers managed to get access to Cryptopia wallets, which allowed them to steal large sums of crypto funds. Data from the Ethereum network revealed that first, the hackers got into two of the core Cryptopia wallets. After that, they attacked over 76,000 other secondary wallets of the platform. However, even after multiple investigations, the hackers remain unknown. Several reports suggest that the stolen crypto assets are worth somewhere around $16 million to $23 million. Many also believe that Cryptopia didn’t actually get hacked and pulled off an exit scam. Following the attack, the exchange was forced to shut down and file for bankruptcy.

FTX

FTX collapsed in early November 2022 following a report by CoinDesk highlighting potential leverage and solvency concerns involving FTX-affiliated trading firm Alameda Research. FTX’s collapse shook the volatile crypto market, which lost billions at the time, falling below a $1 trillion valuation. FTX in November 2022 faced a liquidity crisis and searched for bailout funds; rival exchange Binance considered buying portions of the company but quickly backed out. By Nov. 11, 2022, FTX’s CEO stepped down and the company filed for bankruptcy. In the hours following, FTX experienced a possible hack in which hundreds of millions worth of tokens were stolen. FTX founder and ex-CEO Sam Bankman-Fried was arrested in The Bahamas and extradited to the United States in late December. He pleaded innocent to all criminal charges on Jan. 3, 2023.

Changpeng Zhao

Changpeng Zhao affectionately referred to as “CZ”, is a Chinese-Canadian business executive and the powerhouse behind Binance, one of the largest cryptocurrency exchanges in the world. The most recent Bloomberg Billionaires Index ranked Zhao as the 55th wealthiest individual on earth, with an estimated net worth of $27.6 billion as of 6th September 2023.

Chris Larsen

Chris Larsen is estimated to be worth $2.6 billion as of December 2022 and was ranked the world’s 1179th wealthiest billionaire according to Forbes’ real-time billionaires list. After leaving Ripple in 2016, Larsen invested in numerous other early-stage tech startups and blockchain projects.

Cameron & Tyler Winklevoss

By late 2021, Gemini was on fire and crypto prices were soaring to new record highs each day, leaving the identical twins with a combined net worth of over $7 billion.

Tim Draper

According to Forbes, the estimated net worth of Tim Draper is $1.2 billion. His Bitcoin holding contributed the most to his present net worth. However, his ability to identify promising companies in their early stages also aided Tim Draper’s Journey to the billionaire group. Also, he is a vocal advocate for emerging technologies such as blockchain and cryptocurrency. In the past, Tim Draper made numerous comments and predictions about the price of BTC.

Michael Novogratz

Nevertheless, multiple sources have over time, estimated his net worth to be between $1.5 billion to $2 billion. As of December 2022, the net worth of Mike Novogratz was estimated to be around $1.8 billion. According to our findings, he lost 66% of his net worth as a result of FTX’s collapse. His firm, Galaxy Digital lost $77 million to the demise of the crypto exchange as well.

Brian Armstrong

Brian Armstrong is the co-founder and CEO of the largest US-based Cryptocurrency exchange, Coinbase. His estimated net worth as of 2023 is between $2.4 billion to $2.8 billion, based on his investments and Coinbase shares.

Dan Larimer

Dan Larimer is an American computer scientist as well as a crypto entrepreneur. As of 2022, Larimer has a net worth of a massive amount of $700 million.

Anthony Di Iorio

Anthony Di Iorio is a Canadian serial entrepreneur, venture capitalist, and early bitcoin investor. As of 2022, he has accumulated an estimated net worth of $1 billion…!

Barry Silbert

Silbert's estimated net worth as of March 2023 is currently $3.5 billion, which is based on Digital Currency Group's investment portfolio and his equity stake in Grayscale Investments. However, it's important to note that this figure may fluctuate as there is drama surrounding DCG and Genesis, and their potential bankruptcy.

Brad Garlinghouse

As of 2023, his estimated net worth is around $1.3 million. His wealth comes from his salary as CEO of Ripple, stock options, and other investments.

• Moving average (MA)

The MA – or ‘simple moving average’ (SMA) – is an indicator used to identify the direction of a current price trend, without the interference of shorter-term price spikes. The MA indicator combines price points of a financial instrument over a specified time frame and divides it by the number of data points to present a single trend line.

The data used depends on the length of the MA. For example, a 200-day MA requires 200 days of data. By using the MA indicator, you can study levels of support and resistance and see previous price action (the history of the market). This means you can also determine possible future patterns.

• Exponential moving average (EMA)

EMA is another form of moving average. Unlike the SMA, it places a greater weight on recent data points, making data more responsive to new information. When used with other indicators, EMAs can help traders confirm significant market moves and gauge their legitimacy.

The most popular exponential moving averages are 12- and 26-day EMAs for short-term averages, whereas the 50- and 200-day EMAs are used as long-term trend indicators.

• Stochastic oscillator

A stochastic oscillator is an indicator that compares a specific closing price of an asset to a range of its prices over time – showing momentum and trend strength. It uses a scale of 0 to 100. A reading below 20 generally represents an oversold market and a reading above 80 an overbought market. However, if a strong trend is present, a correction or rally will not necessarily ensue.

• Moving average convergence divergence (MACD)

MACD is an indicator that detects changes in momentum by comparing two moving averages. It can help traders identify possible buy and sell opportunities around support and resistance levels.

‘Convergence’ means that two moving averages are coming together, while ‘divergence’ means that they’re moving away from each other. If moving averages are converging, it means momentum is decreasing, whereas if the moving averages are diverging, momentum is increasing.

• Bollinger bands

A Bollinger band is an indicator that provides a range within which the price of an asset typically trades. The width of the band increases and decreases to reflect recent volatility. The closer the bands are to each other – or the ‘narrower’ they are – the lower the perceived volatility of the financial instrument. The wider the bands, the higher the perceived volatility.

Bollinger bands are useful for recognising when an asset is trading outside of its usual levels, and are used mostly as a method to predict long-term price movements. When a price continually moves outside the upper parameters of the band, it could be overbought, and when it moves below the lower band, it could be oversold.

• Relative strength index (RSI)

RSI is mostly used to help traders identify momentum, market conditions and warning signals for dangerous price movements. RSI is expressed as a figure between 0 and 100. An asset around the 70 level is often considered overbought, while an asset at or near 30 is often considered oversold.

An overbought signal suggests that short-term gains may be reaching a point of maturity and assets may be in for a price correction. In contrast, an oversold signal could mean that short-term declines are reaching maturity and assets may be in for a rally.

• Fibonacci retracement

Fibonacci retracement is an indicator that can pinpoint the degree to which a market will move against its current trend. A retracement is when the market experiences a temporary dip – it is also known as a pullback.

Traders who think the market is about to make a move often use Fibonacci retracement to confirm this. This is because it helps to identify possible levels of support and resistance, which could indicate an upward or downward trend. Because traders can identify levels of support and resistance with this indicator, it can help them decide where to apply stops and limits, or when to open and close their positions.

• Ichimoku cloud

The Ichimoku Cloud, like many other technical indicators, identifies support and resistance levels. However, it also estimates price momentum and provides traders with signals to help them with their decision-making. The translation of ‘Ichimoku’ is ‘one-look equilibrium chart’ – which is exactly why this indicator is used by traders who need a lot of information from one chart.

In a nutshell, it identifies market trends, showing current support and resistance levels, and also forecasting future levels.

• Standard deviation

Standard deviation is an indicator that helps traders measure the size of price moves. Consequently, they can identify how likely volatility is to affect the price in the future. It cannot predict whether the price will go up or down, only that it will be affected by volatility.

Standard deviation compares current price movements to historical price movements. Many traders believe that big price moves follow small price moves, and small price moves follow big price moves.

• Average directional index (ADX)

The ADX illustrates the strength of a price trend. It works on a scale of 0 to 100, where a reading of more than 25 is considered a strong trend, and a number below 25 is considered a drift. Traders can use this information to gather whether an upward or downward trend is likely to continue.

ADX is normally based on a moving average of the price range over 14 days, depending on the frequency that traders prefer. Note that ADX never shows how a price trend might develop, it simply indicates the strength of the trend. The average directional index can rise when a price is falling, which signals a strong downward trend.

No. 1 Around 20% of Bitcoin has been lost forever

According to crypto data firm Chainalysis, around 20% of Bitcoin has been lost or is stuck in wallets that can't be accessed. Today that equates to 3.76 million BTC (worth about $190 billion).

No. 2 The last Bitcoin will be mined in 2140 Only 21 million Bitcoin can ever be produced. It's built into the coin's code or DNA. Right now, about 18.8 million have been mined, though as we saw above, some of them are already lost. The way Bitcoin mining works, the number of Bitcoins that can be mined gets halved every four years. This means that although almost 90% of the total possible Bitcoin is already in circulation, it will take another 120 years or so to produce the remaining 2.2 million coins.

No. 3 A pizza purchase was the first commercial Bitcoin transaction

On May 22, 2010, Laszlo Hanyecz paid 10,000 BTC for two Papa John's pizzas -- worth about $41 at the time. This was the first commercial Bitcoin transaction and is now commemorated through Bitcoin Pizza day each year.

At today's prices, that 10,000 BTC would be worth over $500 million -- which is perhaps the real reason the story has become part of Bitcoin folklore.

No. 4 There are almost 100,000 Bitcoin millionaires

It's difficult to know for sure how many Bitcoin millionaires -- or billionaires -- there are because wallets are anonymous and the price of Bitcoin fluctuates, sometimes wildly. But according to BitInfoCharts, there are currently 98,180 addresses with BTC worth $1 million or more in them.

Forbes included 19 cryptocurrency billionaires on its 2023 Billionaires List, including the Winklevoss twins and Tim Draper

If these fun facts have tempted you to dip your toes into the Bitcoin waters, check out our list of top cryptocurrency exchanges. But make sure you do your own research and only invest money you can afford to lose. The price of Bitcoin can be extremely volatile; it may have made some people into millionaires, but a lot of people have also lost money through cryptocurrency investments.

#2 Beware of Cryptojacking

Cryptocurrency is a safe option for wallet safety but it is still exposed to scammers who use your computer or phone’s processing for the mining of cryptocurrency. They do this for their own benefit without your approval. This is called “Cryptojacking” where the scammers put malicious code in your device. 

How do you know if your device is affected? Your phone or computer will become slow or your battery will discharge faster.

#1 You Can't Loose Your Wallet

When dealing in cryptocurrency you hold a crypto wallet (digital wallet) that has public and private keys. You are provided with a private key to gain access to it and if you happen to lose your private key, the chances of getting it back are close to never. 

Your digital funds will disappear into a huge crypto-void. There is very little chance of hacking because of the blockchain technology, so you are the only one responsible for losing your digital money. 

A credit card/debit card loss can still be traced back or created again at the Bank by providing your identification proof, but with cryptocurrency, you need to be Extremely Careful.