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Category: Cryptocurrencies

  • 4 Common Bitcoin, Ethereum And Cryptocurrency Scams You Shouldn’t Fall For

    4 Common Bitcoin, Ethereum And Cryptocurrency Scams You Shouldn’t Fall For

    Investing in cryptocurrencies such as Bitcoin and Ethereum is one of the best and most profitable investment opportunities available in the world presently.

    With the cryptocurrency market bagging Billions of dollars daily, it is very potent and so also does it come with many risk factors.

    Aside from the fact that cryptocurrencies are very volatile and one could lose all or a huge chunk of their investment in cryptocurrencies when the market dips, the greatest risk associated with this gold mine is scam or fraud.

    There are numerous scams or fraud associated with Bitcoin, Ethereum and other cryptocurrencies.

    In this article, we shall look at 5 scams associated with Bitcoin, Ethereum and other cryptocurrencies and how to avoid falling victim to such scams .

    Cryptocurrency Mining Scams

    This is one of the world’s leading cryptocurrency scams that has wiped out many people’s crypto stock before they even realise it.

    Cryptocurrencies especially Bitcoin, Ethereum and some others require that when someone transfers the cryptocurrency to another person, some other people approve or confirm the transaction before the money can reflect in the recipient’s account. This process is known as mining.

    Mining is usually done using some complex devices or softwares which are dedicated to confirm crypto transaction. For every transaction confirmed, there is an amount of cryptocurrency allocated to the miner. The bigger the volume of the transaction, the higher the mining fee which is distributed amongst all those who confirmed that particular transaction.

    Due to the nature of the confirmations, there are usually companies which buy the mining machines and use them to mine in large quantities. Some companies make more than 1 BTC daily from mining.

    Now, in order to acquire more mining machines and be more efficient, some of the companies ask the public to invest with them so that they get percentage profit on their investments monthly or weekly. The percentages usually run between 1.2% daily to as high as 7 or 10% daily.

    Scammers capitalize on this to design some fake websites claiming to be cryptocurrency miners. When you send them your investment amount through their bitcoin wallet, you either don’t hear from them again or they’ll shut down the whole system after a while.

    It is therefore important that you read reviews about mining companies before you make any decision to invest with them.

    Bitcoin Doubling Or Growth Scams

    For Bitcoin Doubling scams, it usually gets those who are greedy and do not appreciate what they own or have.

    Scammers who go for this method usually use social media or email messages to invite unsuspecting people.

    They usually tell beautiful stories of how some people invested some Bitcoin with them and got their Bitcoin doubled in two days, three days or 7 days.

    If you engage with them further, they’ll send you proofs of what they have been able to do for others and the reason why you should also invest with them.

    As interesting as it may sound, there is no such thing as doubling your Bitcoin or any other cryptocurrency.

    Bitcoin is not a living thing so it does not grow. If you have 5 Bitcoins today and you do not spend it or send part to someone, you’ll still have 5 Bitcoins tomorrow. The only change is that the value might differ. But the volume is still the same.

    Anyone who promises to double or increase your Bitcoin or any other cryptocurrency is just trying to lure you into sending them your coin so they could add to theirs and grow theirs instead. Stay away from such people. You send money to such people at your own risk!

    Crypto Trading Scams or Account Management Scams

    Just like any other financial instrument, cryptocurrencies depend on demand and supply to determine their value at every given time. As such, people buy and sell cryptocurrencies on specialised websites called Exhangers from time to time in order to make profit.

    However, doing this requires some skills and some level of expertise which may not readily be available to everyone.

    For this reason, the ‘experts’ sometimes take Cryptocurrencies from other people and trade the currencies on the behalf of the owners.

    While this is a very nice way of making money since the owner usually splits revenues with the manager on a 60-40 % basis, this can become a space for scammers to operate.

    Do not send any currency to anyone to trade in their personal account for you. It is risky. They can bolt with your currency.

    The best thing is for you to create your own trading account and giving the people access to the account manager part where they can only trade within your account but not be able to make withdrawals.

    Also, you can do copytrading. Where the experts tells you which currency to buy within a specific time and how to do it. So you just have to follow their lead. This one gives you 100% control over your account.

    Fake ICOs

    Before new cryptocurrencies go live to be used by all and sundry, there is phase where the currency is on offer to the first set of investors who buy the currency at a very low price.

    This stage is called the Initial Coin Offering. The ICO stage is to enable the crypto company gather enough money and logistics to promote and push the coin globally when it finally goes live.

    Usually, most ICO prices are below 1 dollar. For people looking to make huge margins of money from cryptocurrencies, investment in ICOs remain one of the best ways of making good returns.

    Usually, when the currency launches officially and the marketing is good, the price doubles by some number of folds from the ICO pricing. This gives the ICO investors some good returns.

    The problem however is that many ICOs are fake and do not come from real cryptocurrency companies. They are mostly from some criminals who have designed a website, claiming to be solving a certain problem and therefore selling their tokens at an ICO price. They may also add other promises that look very appetizing.

    If you invest with them, it is either the website gets deleted after launching and then your coin becomes useless or they don’t make any attempt at marketing or listing the currency on platforms so there is no way you can sell it.

    Though there is no sure way to determine if an ICO is real, you can check by finding out the website’s ownership details, checking the team behind the project. If there is no team displayed on the ICO site, be careful. Also if there are names and faces, quickly search those names on social media especially twitter and Facebook to see if you’ll see them. If you can’t see a large majority of them, run away as fast as you can.

    Conclusion

    Bitcoin or cryptocurrencies are very friendly ways of digitizing the economy as they are decentralized and are easy to use and very quick too. However, the anonymity attached to their transactions make them powerful tools for some unscrupulous people who wish to rob others off their money.

    The cryptocurrency scams discussed above are not exhaustive as there are many other ones that are common in our daily lives.

    It is our hope however that based on this article, you know how to identify and deal with possible cryptocurrency scams in future.

    If you liked the content of this article, kindly comment and share the article. If you have any concerns or questions, kindly let us know or get in touch with us.

  • How To Buy Ethereum In Ghana In 3 Minutes

    How To Buy Ethereum In Ghana In 3 Minutes

    The world’s second-largest cryptocurrency by market capitalization only next to Bitcoin is Ethereum represented as ETH.

    With a market capitalization of around 28 Billion Dollars presently, interest in Ethereum is just as high as Bitcoin.

    In fact, most companies or online shops that accept Bitcoin as a payment method also accept Ethereum – which gives ETH a strong name in the cryptocurrency market.

    It, therefore, goes without saying that Ethereum can be used for the same purposes Bitcoin can also be used.

    The big question, however, remains how to buy Ethereum or ETH in Ghana in a few minutes.

    Worry not. In this article, we shall look at some simple ways of buying Ethereum in Ghana without so much hustle.

    Buying Ethereum From Ecurrency4U

    To purchase Ethereum on Ghana’s biggest Ecurrency trading platform, you need to, first of all, create an account, then place an order and finally make payment.

    Follow the various steps explained below to buy as much Ethereum as you wish to buy.

    How To Create An Account On Ecurrency4U.net

    1. Visit Ecurrency4U.net
    2. Click on register on top of the homepage.
    3. On the registration form page, Enter your First name and Last name
    4. Select your gender
    5. Select your country of residence (Ghana)
    6. Enter your Mobile number without starting with Zero (0)
    7. Enter a valid email address
    8. Create a strong password and repeat your password in the next boss
    9. Type a unique 4 digits code for your wallet. Make sure to keep this pin safe as it would be instrumental in all your transactions on the site.

    How To Place An Order For Ethereum On Ecurrency4U

    To place an order for Ethereum on Ecurrency4U is as simple as it gets. It is just about some few clicks.

    1. Login to your account.
    2. Click on Buy Ecurrency
    3. Select Ethereum from the list
    4. Select the method you wish to pay through (Mobile Money)
    5. Enter the amount of ETH you wish to buy in Dollars or cedis
    6. Enter your ETH wallet address
    7. Click on preview order to confirm all details
    8. Click on submit an order to move to the next stage

    Making Payment For ETH On Ecurrency4U

    1. Copy the contact on the selling page and send your payment via that number using Mobile Money. Use your Order number as the Reference number.
    2. Go back to your account home page.
    3. Click on ‘Manage Orders’
    4. Click on ‘Add Payment Details’. It is located next to your order number.
    5. Enter the mobile money number which you used in sending the money to the site.
    6. Enter the transaction ID for the money you sent.
    7. Enter the exact amount you sent to the site.
    8. Click on ‘Add Payment’

    Once you add your payment, your order should be reviewed within some few seconds and sent to your wallet. If you are using a wallet exists on Ecurrency4U.net, you should receive your ETH instantly. However, if it is an external wallet, you should receive it in a few minutes.

    Conclusion

    Ethereum can be used for several purposes such as online gambling, purchasing goods and services, paying for events, booking flight tickets, shopping as well as online investments.

    Buying Ethereum (ETH) is no more a big worry since you can buy any volume of Ethereum you want within 3 minutes.

    Remember also that investment in Cryptocurrency is highly risky and requires lots of reading and studies to understand due to its high volatility. No part of this article should, therefore, be considered as investment advice of any sort.

    I hope this article was helpful in solving your issue of how to buy Ethereum in Ghana without so much hustle!

    Kindly share your views and comments with us in the comment box. Do well to share the post with your friends and family as well.

  • Cryptocurrencies That Are Likely To End The Year On a Good Note

    Cryptocurrencies That Are Likely To End The Year On a Good Note

    Thanks to an excruciating pain caused by the COVID-19 Pandemic, many financial instruments and economies are seeing a down-trend in their growth this year.

    With many businesses expected to shut down completely after the end of this unexpected global health problem, financial and economic instruments have become signs of doom and monetary destruction.

    Fortunately, the cryptocurrency market seems to be one of the least affected financial markets in these days of Coronavirus.

    Despite the fact that the market took a strong hit in the early days of the virus with the lead coin, bitcoin hitting a long-time low of around 4,000 USD, the story is different today.

    The current trends on the cryptocurrency market present a strong statement for everyone who believes in bitcoin and other alternative cryptocurrencies, especially in these disturbing moments.

    In this article, we shall look at some cryptocurrencies that are likely to complete the year on a good note, based on their performance this year and what they’ve been able to achieve in the preceding years.

    Bitcoin

    The mother of all cryptocurrencies is definitely set to break boundaries this year and make waves as it did in 2017.

    With demands for bitcoin getting higher and higher by the day and the need to reduce physical contacts with people all over the world reaching an all-time peak, bitcoin is set for a major rise.

    Since 2017, it has been observed that after the first half of the year and towards the end of the last quarter, demand for bitcoin becomes very high and just a few weeks into the Christmas festivities, the crypto asset sails to a year-to-date high.

    Coupling these two situations and the current price of bitcoin, we are sure to expect that bitcoin gets to an all-time high towards the end of this year.

    Forbes predicted earlier that bitcoin could end the year around 50,000 USD which currently looks more like a dream than a reality.

    We, on the other hand, thinks 20,000 USD as a new all-time high is a good bargain for the world’s most expensive and first cryptocurrency.

    Ripples (XRP)

    If you have any amount of money you do not intend to spend before the end of this year, the right place to invest that money is in Ripples.

    Ripples have a payment background which makes it more suitable for the situation in which the world finds itself.

    More interesting is the fact that Ripples has partnered with Moneygram to make sending and receiving funds very easy and affordable.

    Currently, Ripples is trading at around 0.20 USD. Now, anytime ripples drop this low to 0.20 USD and are able to beat the resistance above 0.25 USD, it goes for a major spike.

    Expectations are that as the demand for ripples grows towards the end of the year and it beats the resistance, steady growth in bitcoin price is likely to grow Ripples to 2 USD by the end of the year.

    So to anyone who may invest in Ripples at this point, they may be looking at a profit of 1.80 USD per coin. Which translates to 900% profit by the end of the year.

    So all things being equal and with this prediction coming to pass, anyone who invests 200 USD in Ripples at this point would be word 1,800 USD by the end of the year.

    Zcash

    This may not be a regular name to newbies in the cryptocurrency industry.

    Gurus in the industry, however, know how important this asset is to their portfolio.

    Once upon a time, the crypto world craved a perfectly secure and private asset which can harness the use of cryptocurrency privately without the possibility of it being traced back to the owner.

    Then came the answer by way of Zcash.

    With security and privacy becoming a top priority for businesses and individuals across the globe especially in this year, it is important to note that this may be the year for Zcash.

    For a coin priced at 45.81 USD at the time of writing this article, Zcash has very strong potentials that are likely to make it hit a projected end-of-year price nearing 100 USD.

    That’s to say we are projecting a more than 100% increase in the price of Zcash by the time this year ends.

    So, if you invest 500 USD in Zcash now, you are likely to have 1000 USD at the end of the year.

    Electroneum

    A year or two after its crazy hype and shout for max adoption, Electroneum has almost lost its glitz and glamour.

    Fortunately, Richard Ellis and his team seem to be doing lots of works behind the scenes. Following the coronavirus outbreak, Electroneum has seen some steady growth, currently trading at 0.008 USD per coin which has become a new high since 2018.

    Electroneum has made some major collaborations this year and is hoping to capitalize on that and its quest for global adoption to go crazy by the end of the year.

    If previous trends are anything to go by in addition to the current look of the charts, then Electroneum (ETN) could end this year as one of the biggest gainers.

    We expecting a year-closing price of around 0.30 USD per ETN coin.

    Which means, if you buy an electroneum coin now, by the end of this year, you should be expecting to make 0.292 USD per coin.
    This translates into 3,650% growth.

    Conclusion

    As I always say, investments are very risky whether it is an investment in cryptocurrencies or money funds.
    Therefore, you are the best person to decide which assets you want to invest in. We do not provide any form of financial advice to you in terms of investing or not investing.

    Prices given here in this article are purely based on speculations and trends from past years – which may be entirely wrong or right.

    However, the cryptocurrency market is definitely bound to experience some important growths by the end of this year.

    If you have other thoughts concerning this topic, kindly share them with us in the comment box below.

  • 3 Betting Sites That Pay You With Cryptocurrencies In Ghana

    3 Betting Sites That Pay You With Cryptocurrencies In Ghana

    Cryptocurrency is the future of money. It is believed that with time, banks and financial institutions would be of no use when cryptocurrencies finally take over the commerce and financial circus.

    What this means is that people with the highest volumes of cryptocurrency by the time this event happens will be at the favourable end of the table.

    The problem, however, is in acquiring these cryptocurrencies. There are some investment schemes online which promise to increase your cryptocurrencies via mining.

    While some of these companies are legitimate and deliver on their promises, a large number of them are Ponzi schemes and are likely to leave you in tears.

    One sure way of gaining and growing some cryptocurrency online is through betting.

    In this article, we shall look at 3 betting companies in Ghana which pay you with cryptocurrencies (more…)

  • 10 Important Things You Should Know About Cryptocurrency Before Diving In

    10 Important Things You Should Know About Cryptocurrency Before Diving In

    Cryptocurrency is a digital asset that is used as a form of exchange to purchase goods and services. Bitcoin which is quite popular is a type of cryptocurrency. 

    The underlying technology that powers cryptocurrency is called Blockchain.

    Simply put, Blockchain is a decentralized technology that manages and records transactions.

    This article talks about 10 things you should know if you want to go into cryptocurrency.

    It is not insured

    You take responsibility for any losses if you invest in cryptocurrency. There is no insurance to cover losses. 

    Ensure your risk appetite is high before investing in crypto.

    When should you buy it?

    There is no perfect time to buy cryptocurrency.

    It is a very volatile currency, it rises and falls sharply within a short period of time. 

    Do proper research before you begin to invest.

    Don’t trade over the public internet

    If you are connected to the public internet, you should never carry out financial transactions. 

    The fact that the internet is accessible to the public means it is not secured and it is easy for attackers to intercept traffic and have access to sensitive information like your card details or pin.

    How many types of cryptocurrencies are currently available?

    Presently, there are approximately 2,957 cryptocurrencies available. But Bitcoin remains the most popular of them all. 

    Other common ones are Ethereum and Litecoin.

    Transactions are not reversible

    Once you’ve made a transaction involving cryptocurrency, you cannot reverse it.

     It’s different from other financial transactions that can be reverted in case of any error. 

    You should double-check your transaction before you authorize it.

    Is the risk low?

    The volatility makes investments in cryptocurrency a high-risk investment.

    If you have a low-risk appetite, you should consider other investment options. Crypto is likely not for you.

    How is cryptocurrency stored?

    The method of storage employed for the cryptocurrency is called a Digital Wallet.

    This wallet can be stored offline or online.

    The wallet allows you to send, receive and trade your cryptocurrency. It is secured with a PIN or Token. 

    Is your cryptocurrency secured?

    The safest way to keep cryptocurrency is in an offline wallet. This makes it less prone to cyber-attacks.

    However, you still need to go online for you to trade the funds. 

    When choosing a crypto exchange platform, security is something to look out for.

    What determines the price of cryptocurrency?

    Cryptocurrencies are not controlled by any regulatory body. This means that the price is determined by its users. 

    They can drive it up or down. The price goes up if a big crypto exchange adopts a cryptocurrency and the price would also diminish if big crypto leaves a cryptocurrency

    How to invest in cryptocurrency

    There are various exchange platforms you can use to invest in crypto. What should influence your choice is the security they offer. 

    Is your crypto secure in the digital wallet they provide? Also, consider how much they charge for each transaction, this varies across platforms.

    When you’ve decided which platform to use and it’s a good time to invest, register and set up your account.

    You can buy cryptocurrency in your local currency using your bank account or credit card. 

    Conclusion

    This technology is relatively new to some while others have made quite a lot of money from it.

    However, it is not too late to join the train. This is a technology that has come to stay and the future looks bright. We don’t offer any investment advice.

    Was this helpful? Let us know what you think in the comment. 

  • 2020 Week 4: Top 5 Cryptocurrencies

    2020 Week 4: Top 5 Cryptocurrencies

    We’ve just finished the fourth week of 2020 and taking baby steps into the fifth week of the year 2020.

    Generally, it still seems to be a positive year for the crypto market. Majority of the top 100 cryptos in the world have made some positive gains in general.

    As we prepare to begin the fifth week, here we bring you a brief analysis of how the top 5 cryptos performed throughout the week.

    1. Bitcoin (BTC)

    Bitcoin undoubtedly still maintains its position as tops on the list of cryptocurrencies in the world.

    It made an entry into the just ended week on Sunday, 19th January 2020 at 8,707.63 USD, with a growth of 11.53 percent.

    It rose steadily and reached its peak on Wednesday morning at 8,789.49USD. As of press time on Sunday 26th January 2020, bitcoin is trading at 8,584.91USD.

    Compared with last week, bitcoin has dropped by a percentage of negative 1.4 percent.

    Despite the slight drop in percentage, it has a market capitalisation of 155.873 Billion Dollars, currently ranking it as the top cryptocurrency for the week.

    2. Ethereum (ETH)

    Ethereum, the second most popular cryptocurrency just behind bitcoin is still leading as the second biggest crypto asset in the fourth week of 2020. The week for Ethereum started quite badly compared to the previous week with an initial entry of 166.97 USD.

    Towards the end of the week, on Friday, 24th January, Ethereum reached its bottom price at 156.75 USD. It however peaked on Wednesday at 170.24 USD.

    As of press time on Sunday, Ethereum sells at 167.80 USD. Unlike Bitcoin, Ethereum saw a slight positive growth of 0.497 Percent. Ethereum currently has a market cap of 18.350 Billion USD and is ranked the second best cryptocurrency.

    3. RIPPLES (XRP)

    Still struggling at the top, Ripples started the week with 0.234USD and has been going on a very wavy drive throughout the week. Its peak was 0.238USD on Tuesday.

    Ripples reached its lowest price of the week on Friday, trading at 0.215 USD. As of press time on Sunday, 26th January, XRP is trading at 0.266USD.

    So in all, XRP concluded the week at 0.266USD with a gain of 13.68 percent and a market capitalisation of 10.069 Billion Dollars.

    4. Bitcoin Cash (BCH)

    Bitcoin cash has maintained its consistency of enjoying some major rise in price from the beginning of the year. However, this week seems to be a different one. BCH entered the week at 338.21USD. Its peak was on Wednesday morning when it earned a price of 347.81 USD. The lowest point however was its entry point on Sunday. As at press time, BCH is selling at 333.87 USD on Sunday. Per the mathematics, BCH has seen a depreciation of negative 1.28 Percent over the week. Its market capitalisation is pegged at 6.301 Billion Dollars.

    5. Bitcoin SV (BSV)

    BSV has shockingly maintained its position in our list right from the previous week.

    Booting off the USD tether from the list of our top 5 Cryptocurrencies, the Bitcoin SV has performed yet another magic. Of course, except that it was not a beautiful story in the end. BSV started the week with 257.32USD. Towards the end of Tuesday, BSH reached its peak price of the week which stands at 315.42USD.

    Its lowest pricing however was on Friday where it traded at 257.59 USD.

    So no much trouble for this coin in terms of performance. As of press time today, Sunday 26th January 2020, BSH is selling at 276.07 USD.

    Having clocked an increase of 7.28 percent and a market cap of 4.986 Billion Dollars, BSH is the final coin on our list for the week.

    Kindly check out our list of top 5 cryptocurrencies based on market capitalization and percentage gains Next week Sunday.

    NB: We do not give advice on crypto investments. Like any other investment program, cryptocurrencies are very risky ventures to invest in. Please do seek the views of an expert before making a decision to invest in cryptocurrencies.

  • How To Exchange Your Bitcoin For Mobile Money Through Remitano

    How To Exchange Your Bitcoin For Mobile Money Through Remitano

    Like Jumia, Jiji and tonaton, Remitano.com is the marketplace for all cryptocurrency dealers in Ghana.

    At Remitano, the platform available is an escrow service where buyers and sellers list their cryptocurrencies, their rates and the volume they need or have.

    As such, Remitano does not have direct control over the coins sold on its platform. The only thing they have control over is the sending and receiving of the coins involved.

    Exchanging bitcoin on Remitano is a bit tricky but it’s a lot better as there are a lot of orders for buy and sell at various rates from different people, so one could easily get a rate befitting their needs.

    So here is the process:

    Register For A Remitano Account

    1. Visit Remitano.com and click Login/register

    2. Click on Google under “sign in with”

    3. Enter your email address and enter your email password

    4. You’ll be logged in to your account.

    5. Setup your account by editing your profile.

    6. Deposit the BTC from your BTC holding account Into your Remitano wallet.

    Sell Your Coin To A Waiting Buyer

    1. click on sell now.

    2. From the homepage, you’ll see a list of buyers

    3. Locate the one you wish to sell to and click on sell

    4. Enter the amount of coin you wish to sell and click Sell BTC to open transaction window.

    Note: “Amount limits” is the minimum and maximum limit that the buyer (ad creator) wants to trade. You can only trade within this limit.

    5. Enter the payment details through which you want the buyer to make payments to you and click “Continue”.

    6. The transaction will automatically switch to “Awaiting payment” mode

    7. Wait for the buyer to pay you through the number you’ve provided. Then click on “I have received payment” to release the bitcoin to the buyer.

    Note: Do no confirm that you’ve received money from a buyer when you haven’t actually received the money in your account. Do well to verify any mobile money message received to be sure that it’s authentic before confirming receipt of the money. You can’t trust people with money these days. So just be careful.

    You can also check out other options here: How To Withdraw Bitcoin Through Your MTN Mobile Money Account

  • 2020 Week 3: Top 5 Cryptocurrencies

    2020 Week 3: Top 5 Cryptocurrencies

    The third week of 2020 seems to be a positive week for the crypto market. Majority of the top 100 cryptos in the world have made some positive gains in general towards the end of the week.

    As we prepare to begin the fourth week, here we bring you a brief analysis of how the top 5 cryptos performed throughout the week.

    1. Bitcoin (BTC)

    Bitcoin made an entry into the new week on Sunday, 12th January 2020 at 8,150.53 USD. Interestingly, that was the lowest point for bitcoin throughout the week.

    It rose steadily and reached its peak on Sunday morning at 9,090.79 USD. As of press time on Sunday 19th January 2020, bitcoin is trading at 8,707.63 USD.

    Having seen a growth of 11.53 per cent over the past one week and with a market capitalisation of 158.25 Billion USD, Bitcoin tops our list of the top 5 cryptocurrencies of the just ended week.

    2. Ethereum (ETH)

    Ethereum, the second most popular cryptocurrency just behind bitcoin is still leading as the second biggest crypto asset in the third week of 2020.

    The week for Ethereum started well compared to the previous week with an initial entry of 146.21 USD.

    Towards the end of the week on Saturday, Ethereum peaked at 174.80USD. Ethereum, however, had its lowest point for the week on Saturday with 146.01 USD.

    As of press time on Sunday, Ethereum sells at 166.97 USD. Though this sums up as a dip towards the end of the week, conclusively, Ethereum achieved a growth of 14.19 per cent over the past week. Its capitalisation stands at 18.254 Billion Dollars.

    3. RIPPLES (XRP)

    Still struggling at the top, Ripples started the week with 0.21USD and has been going on a smooth ride up the curve throughout the week. Its peak was 0.248USD which happened on Sunday afternoon. There was no other least price for the week aside from the entry point. So in all, XRP concluded the week at 0.234USD with a gain of 11.4 per cent and a market capitalisation of 10.268 Billion Dollars.

    4. Bitcoin Cash (BCH)

    Bitcoin cash has been enjoying some major rise in price from the beginning of the year. BCH entered the week at 266.68 USD. Its peak was on Saturday morning when it earned a price of 388.35 USD. The lowest point, however, was the entry point which means it’s seen positive growth. As at press time, BCH is selling at 338.21 USD on Sunday. Per mathematics, BCH has seen a growth of 26.82 Percent over the week. Its market capitalisation is pegged at 6.17 Billion Dollars.

    5. Bitcoin SV (BSV)

    Our fifth and final coin on the top five list of cryptocurrencies was Tether. Unfortunately, this week wasn’t a good one for the USD tether as it has had to move down a step further, thanks to the marvellous performance of Bitcoin SV (BSV).

    BSV started the week with 162.84 USD. Towards the end of Tuesday, BSH reached its peak price of the weak which stands at 422.74 USD.

    Its lowest pricing, however, has been the entry point. So no much trouble for this coin in terms of performance. As of press time today, Sunday 19th January 2020, BSH is selling at 257.32 USD.

    Having clocked an increase of 58.02 per cent and a market cap of 5.065 Billion Dollars, BSH is the final coin on our list for the week.

    Kindly check out our list of top 5 cryptocurrencies based on market capitalisation and percentage gains Nextweek Sunday.

    NB: We do not give advice on crypto investments. Like any other investment program, cryptocurrencies are very risky ventures to invest in. Please do seek the views of an expert before making a decision to invest in cryptocurrencies

  • 2020 Week 2: Top 5 Cryptocurrencies

    2020 Week 2: Top 5 Cryptocurrencies

    The second week of 2020 seems to be a positive week for the crypto market. Majority of the top 100 cryptos in the world have made some positive gains in general towards the end of the week.

    As we prepare to begin the third week, here we bring you a brief analysis of how the top 5 cryptos performed throughout the week.

    1. Bitcoin (BTC)

    Bitcoin made an entry into the new week on Sunday, 5th January 2020 at 7,561.30 USD. Interestingly, that was the lowest point for bitcoin throughout the week.

    It rose steadily and reached its peak on Wednesday morning at 8,346.00 USD. As of press time on Sunday 12th January 2020, bitcoin is trading at 8,150.53 USD.

    Having seen a growth of 7.8 per cent over the past one week and with a market capitalisation of 147.95 Billion USD, Bitcoin tops our list of the top 5 cryptocurrencies of the just ended week.

    2. Ethereum (ETH)

    Ethereum, the second most popular cryptocurrency just behind bitcoin is still leading as the second biggest crypto asset in the second week of 2020.

    The week for Ethereum started rather slowly with an initial entry of 136.17 USD. Towards the middle of the week on Wednesday, Ethereum peaked at 147.62 USD. However, right from Wednesday through to Friday, Ethereum has been on a negative parabolic movement and reaching its lowest point at 135.93 USD.

    But there is good news for holders. It looks like the weekend produced some magic as Ethereum sells at 146.2 USD as of press time today. Conclusively, Ethereum achieved a growth of 7.6 per cent over the past week. Its capitalisation stands at 15.92 Billion Dollars.

    3. RIPPLES (XRP)

    Ripples has been one of the worst-performing crypto assets among the top 10 towards the end of last year and this year. Many crypto gurus have predicted it as one of the coins to cause major shakeup in the industry this year. Well, we wait to see how that turns out.

    Still struggling at the top, Ripples started the week with 0.19 USD and has been going slightly up and down throughout the week. Its peak was 0.223 USD which happened on Tuesday. And the least was the entry point. So in all, XRP concluded the week at 0.213 USD with a gain of 12.1 per cent and a market capitalisation of 8.56 Billion Dollars.

    4. Bitcoin Cash (BCH)

    Bitcoin cash has been enjoying some major rise in price from the beginning of the year. BCH entered the week at 223.71 USD. Its peak was on Saturday when it earned a price of 270.45 USD.

    The lowest point, however, was the entry point which means it’s seen positive growth. As at press time, BCH is selling at 266.86 USD. Per mathematics, BCH has seen a growth of 19.28 Percent over the week. Its market capitalisation is pegged at 4.861 Billion Dollars.

    5. USD Tether (USDT)

    Tether is our last baby for the week. With steady pricing, Tether hardly loses or gains anything in the crypto market. However, its market capitalisation of 4.635 Billion Dollars puts it in the driving seat as the fifth and final crypto asset on our list for this weekend.

    Kindly check out our list of top 5 cryptocurrencies based on market capitalisation and percentage gains Next week Sunday.

    NB: We do not give advice on crypto investments. Like any other investment program, cryptocurrencies are very risky ventures to invest in. Please do seek the views of an expert before making a decision to invest in cryptocurrencies.

  • Ghana SEC Deliberates Over Possibility of Regulating Cryptocurrencies

    Ghana SEC Deliberates Over Possibility of Regulating Cryptocurrencies

    Recently it was declared that the Ghana SEC is discovering licensure for digital assets, such as cryptocurrencies and security tokens. While digital currencies are not currently legal tender within the country, the SEC is seeing licensing platforms in such a way that they can be used to manage a business effectively. Paul Abio, who serves as the Director General of the country’s SEC, allegedly stated that the body is watching to express and solemnize a good controlling outline that will lay down the instructions for crypto to exist and function in Ghana as legal tender.

    Paul Abio mentioned the following regarding the arrogance of worried parties to cryptos and the SEC’s vision for it going forward it was stated in the local news outlet,

    “…..People to desist from dealing with these crypto entities but when you choose to go there you are on your own, we are looking at the area obviously various chances of……have adopted a wide range of chances on it and we are still doing our research and gathering information and we welcome any input that people might have to help us formulate a view on how we should deal with it in Ghana.”

    Currently, till an agenda is put into place, depositors must be clear of crypto exchanges which are still totally uninhibited. There should be a swift fix solution which is implementable, the finest course of action for cryptocurrency traders and investors to evade such crypto exchanges overall. From the past 20 years, the Modulus has created a customer list such as Goldman Sachs, Merrill Lynch, JP Morgan Chase, Bank of America, Barclays, NASA, Siemens, Shell, Yahoo!, Microsoft, Cornell University, and the University of Chicago.

    Deputy director general of the SEC Paul Abadio feels that users require to stop dealing with unlicensed cryptocurrency things, on this he stated that:

    “When you choose to go there, you are on your own. We have adopted a wide range of changes on it and we are still doing our research and gathering information, and we welcome any input that people might have to help us formulate a view on how we should deal with it in Ghana.”

    About Modulus:

    Modulus was established in 1997 since then it is offering advanced monetary technology services and products to specialized traders, brokerages, trading firms, and enlightening, administrative, and non-profit organizations in 94 countries. The corporation’s products and services have reached more than millions of customers all over the world.