Tech

The Biggest Mistakes New Crypto Investors Make

Published

2 years ago

March 29, 2023

Freelancer

The Biggest Mistakes New Crypto Investors Make

Despite its increasing acceptance as a legitimate payment and investment option, cryptocurrency and the surrounding world of Web3 still resemble the Wild West. Every day, beginner investors face a steep learning curve full of newbie mistakes.

While it’s not completely in your control how your crypto experience will turn out, and you won’t master the art of investing overnight, there are some factors to keep in mind to minimize losses and maximize profits. First of all, the key is to learn from others’ mistakes.

Second of all, you have to keep updated with the latest news. And last but not least, nothing and no prediction can guarantee where the Bitcoin price on Binance will be months or years from now.

To venture into a developing and volatile market where prices fluctuate by a second due to illiquidity, whales, and herd behavior influenced by social media, you should first understand the three most common mistakes newbie investors make.

Photo source: https://unsplash.com/photos/4PljbcYIzyE

Lacking basic crypto knowledge

A 2021 study from Cardify found that more than one-third crypto investors knew little to nothing about it, jumping in feet-first without doing much research on the asset class beforehand.

It’s unsurprising; a long time ago, there was a lot of hype around Bitcoin, Ethereum, and other popular cryptocurrencies, and everyone would jump on them.

However, not every investor knows what they’re getting into when putting their money in this asset class.

Trading and investing in an asset class you don’t understand is a recipe for disaster. The way to start towards a successful investment portfolio is to educate yourself about blockchain, cryptocurrency, and their future, and the following resources serve as the most valuable tools:

Podcasts. Researching about one thing at a time is time-consuming, and regardless of how exciting it can be, it can also get boring. But fortunately, some crypto-based podcasts on iTunes or other platforms explain what you need to know about cryptocurrency. Ensure you start with the first episode; otherwise, you’ll hardly understand anything.
Community forums. For everyone looking to venture into the crypto world, community forums are a great way to educate themselves. They’re created for educational purposes and are less crowded than social media. Some examples of community forums to help you are Reddit, Bitcoin Talk, and Altcoin Talk.
White paper. Unlike the sources mentioned above, white papers need a more technological approach. You don’t have to be a developer, though, to understand the concept. They’re basically very detailed reports designed by developers to inform the audience, and shouldn’t lack technical terms.

Forgetting to diversify

You know how the saying goes, “Never put all your eggs in one basket.”? This is a call to diversification, and it’s more accurate in the volatile world of cryptocurrency. Let’s assume there’s a real estate crisis. You’d still have a place to live if you owned a house.

And if the company you’re holding bonds in goes bankrupt, you’ll still get something, though you’ll be entitled to a fraction of the value and it will be close to worthless.

In the realm of crypto, things are different. A significant code base error or shifts in user preference could bring a token down overnight.

Therefore, it’s prudent to diversify between the following two dimensions:

Cryptocurrencies have had a less-than-perfect connection with other types of financial assets like stocks and bonds. You should ask yourself what would the ideal asset mix between traditional financial instruments and cryptocurrencies would look like to reflect your return expectations and risk preferences.
Not all cryptocurrencies are created the same. Some can be regarded as payment tokens sharing a similar function with gold or the US dollar. Others you can see as infrastructure tokens that seek to offer a platform that decentralised finance apps are developed on. Just like an equity investor doesn’t want to hold only tech company stocks but also titles from other industries, you should diversify your investment portfolio with tokens or coins serving different financial functions, thus, having different price movement characteristics.

Become a victim of FOMO

Many investors are terrified of missing out on a potentially booming investment opportunity, so much so that there’s even a term for it: FOMO (the fear of missing out).

Experts prove that it can affect the quality of human life, and if you are to stretch it, it can lead to anxiety and loss of money since the decisions aren’t rational or made based on due diligence.

In cryptocurrency, FOMO can make you achieve the exact opposite of return on investment, meaning that if you don’t control it, you can buy assets at their highest price and sell them at their lowest, instead of vice versa.

Dogecoin’s volatility in 2021 is an excellent example of FOMO. Tesla CEO Elon Musk’s tweets caused hysteria among those not holding the coin at the time. On several occasions, the meme cryptocurrency saw ups and downs depending on how the market perceived Musk’s words.

DOGE surged ahead of his appearance on a TV show, only to plummet by roughly 30% in the 24 hours after it was called a “hustle” on the show.

To overcome these challenges, you need a profound understanding of the crypto market, its pros and cons, as well as your level of risk tolerance.

Remember that your instincts can sometimes fail you and that types of FOMO have been a part of human existence long before the invention of digital currency.

Remember, a low token price isn’t necessarily a bargain.

Just because a cryptocurrency has a low price per unit doesn’t make it a bargain, and the price without context is almost meaningless. A token’s creators decide how large the supply of coins or tokens is.

As an investor, you need to consider the price in the context of the number of tokens in circulation, the supply dynamics, and how the coin will add value to the real world.

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Tech

US: A Judge Mandates that Google Allow Competing App Stores to Access Android

Published

1 month ago

October 8, 2024

Salman

(VOR News) – The ruling is that Google, the greatest technology firm in the world, is required to make its Android smartphone operating system available to merchants that supply applications that are in direct rivalry with Google’s. This decision was reached by a judge in the United States of America.

The Android Play store, which is owned and operated by Google, was found to be an example of an illegal monopoly arrangement by a jury in the state of California on Monday. The finding was reached by a jury. Monday is the day that this decision was come to.

An earlier federal judge ruled Google’s search engine illegal.

This finding, which came after that decision, has forced the company to suffer yet another setback. As a result of the corporation having already encountered its initial obstacle, this decision has been established. This particular decision was made by the judge during the month of August, when the month was in progress.

In light of the fact that the decision was made, what exactly does it mean that the choice was accepted?

In accordance with the verdict, Google is obligated to make it possible for users to download Android app stores that are offered by third-party competitors. For a period of three years, the corporation is prohibited from imposing restrictions on the usage of payment mechanisms that are integrated into the application.

In addition, it is important to keep in mind that Google does not possess the right to impose restrictions on the utilization of ways to make payments online.

Additionally, the verdict makes it unlawful for Google to give money to manufacturers of smartphones in order to preinstall its app store. Smartphone manufacturers are prohibited from doing so.

Furthermore, it prevents Google from the possibility of sharing the revenue that is generated by the Play store with other companies that are in the industry of delivering mobile applications.

In addition to this, the court has mandated the establishment of a technical committee that will be made up of three different people chosen at random.

The committee will be responsible for monitoring the implementation of the reforms and finding solutions to any disagreements that may occur as a consequence of the implementation of the reforms while they are being implemented. This task will fall under the committee’s purview so that it may fulfill its duties.

However, certain components were allowed to be put into action until July 1st, despite the fact that the judge’s statement suggested that the ruling would take effect on November 1st. The statement was the basis for the ruling, which ultimately became effective.

Particularly, I wanted to know what Google’s reaction would be.

There is a fact that Google does not adhere to this directive, which has been brought to their attention. This document argued that the alterations that the judge had ordered to be made would “cause a range of unintended consequences that will harm American consumers, developers, and device makers.”

The judge had ordered the modifications to be implemented. The alterations were to be carried out as indicated by the judge’s ruling. The judge made it clear that he expected these revisions to be carried out in accordance with his guidance.

The company’s regulatory affairs vice president, Lee-Anne Mulholland, provided the following statement: “We look forward to continuing to make our case on appeal, and we will continue to advocate for what is best for developers, device manufacturers, and the billions of Android users around the world.”

On average, over seventy percent of the total market for smartphones and other mobile devices is comprised of mobile devices that are powered by the Android operating system. Both smartphones and other small mobile devices are included in this category.

In the event that the Play app store continues to be shown on the home page and that other Google applications are pre-installed prior to the installation of the Android application, smartphone manufacturers are entitled to install the Android application at no cost at their discretion.

Additionally, the Android application can be installed on devices that are manufactured for smartphones.

SOURCE: DWN

Tech

WhatsApp Now Features a “Mention” Tool for Status Updates and Stories.

Published

1 month ago

October 6, 2024

Salman

(VOR News) – Those who use WhatsApp now have the ability to mention other people in their stories or status updates as a consequence of a feature that was only recently enabled on the platform.

Previous to this point, this capability was not available. It wasn’t until quite recently that this capability became available to the public.

According to the information that was provided by the company, users now have the opportunity to tag close friends in their stories, and the person who is mentioned will have the option to go back and re-share an earlier version of that story. This information was provided by the company. The corporation was kind enough to reveal this information to us.

Because of a new feature that has been added to the WhatsApp app, users now have the opportunity to like individual stories and status updates.

This capability was previously unavailable to WhatsApp users.

A significant amount of progress has been made in this context. Alternative readers now have the chance to “like” a work, which is comparable to liking a post on Facebook. This feature was introduced in recent years. When compared to the past, this is a tremendous shift.

At one point in time, viewers were only permitted to observe the total number of views that a particular story had gotten. These restrictions were eliminated in later versions of the software.

Additionally, it is essential that the likes and reactions to a story be kept anonymous during the entire process. One of the factors that contributes to the general mystery that surrounds this characteristic is the fact that this is one of the elements.

The person who brought it to the attention of others is the only person who will be able to judge who enjoyed it and who did not care about it. These individuals will be able to make this determination.

A notification will be issued to the individual who was referenced earlier in the sentence and who was named in the story or status update that was discussed. A notification of this nature will be sent to the individual via WhatsApp.

This message will be sent to the user in question whenever that person makes a reference to another person while they are in the process of elaborating on a narrative or updating their status. You will receive a notification alerting you that you have been tagged in the narrative.

This notification will be delivered to the person who receives this message. In addition, students will be provided with the opportunity to re-share the tale for themselves.

It is important to note that if the names of individuals who have been referenced in a narrative or a status update are included in any of these, then the names of those individuals will not be accessible to any third party through any of these. In light of the fact that the identities of those individuals will be concealed from public disclosure, this is the condition that will be required.

While WhatsApp recently made the announcement that it will be incorporating this functionality, it is highly likely that not all users will have access to it at the same time.

This is despite the fact that WhatsApp recently made this announcement.

Despite the fact that WhatsApp has only recently made a public announcement that it will move forward with the deployment, this is the situation that has presented itself.

As soon as a short period of time has elapsed, access will be made available to each and every person on the entire world.

Additionally, WhatsApp has hinted that new functionalities might be introduced to the status and updates tab in the future months.

The purpose of these capabilities is to provide users with assistance in maintaining healthy connections with the individuals who play a vital role in their living experiences. This is done in order to give users with support in maintaining close relationships with the folks who are the subject of the inquiry.

It is with the purpose of supporting users in successfully keeping close ties with the individuals in question that this step is taken.

SOURCE: DN

Tech

Over The Planned “Link Tax” Bill, Google Threatens to Remove NZ News Links.

Published

1 month ago

October 4, 2024

Salman

(VOR News) – Google has sent a strong message to the New Zealand government, threatening to stop boosting local news content should the Fair Digital News Bargaining Bill become law.

The law, put up by the Labour government and backed by the coalition in power at the moment, mandates that digital companies such as Google pay back news organizations for links to their material.

News publishers, on the other hand, charge the tech giant with “corporate bullying.”

Google says this measure may have unanticipated effects.

Google New Zealand’s country director, Caroline Rainsford, voiced her worries that the law, which is being referred to as a “link tax,” is not doing enough to support the media industry in New Zealand right now.

She underlined that Google would have to make major adjustments if the previously mentioned law were to pass, including cutting off links to news articles from its Search, News, and Discover platforms and cutting off financial ties with regional publications.

According to Rainsford, similar legislation has been proposed and approved in other nations including Australia and Canada, but it has not been proven to be effective there and breaches the principles of the open web.

She drew attention to the fact that smaller media outlets will be most negatively impacted, which will limit their capacity to reach prospective audiences.

Google says its alternative options will protect smaller, local media from negative effects.

Conversely, it conveys apprehension regarding the possible fiscal obligations and vagueness of the legislation, which it feels generates an intolerable level of ambiguity for enterprises functioning within New Zealand.

The New Zealand News Publishers Association (NPA) has reacted to Google’s warnings by alleging that the internet behemoth is using coercive tactics.

They specifically contend that the need for regulation stems from the market distortion that Google and other tech giants have created, which has fueled their expansion into some of the most significant corporations in global history.

The legislation aims to create a more equal framework that media businesses can use to negotiate commercial relationships with technological platforms that profit from their content.

New Zealand Media Editors CEO Michael Boggs stated that he was in favor of the bill, citing the fact that Google now makes a substantial profit from material created by regional publications.

He also emphasized that the use of artificial intelligence by Google—which frequently makes references to news articles without giving credit to the original sources—highlights the significance of enacting legislation.

Paul Goldsmith, the Minister of Media and Communications, has stated that the government is now evaluating various viewpoints and is still in the consultation phase.

He stated that the government and Google have been having continuous talks and will keep up these ongoing discussions.

However, not all political parties accept the validity of the Act.

The ACT Party’s leader, David Seymour, has voiced his displeasure of the proposal, saying that Google is a game the government is “playing chicken” with. He threatened the smaller media companies, saying that they would suffer from worse search engine rankings if the internet giant followed through on its promises.

Seymour contended that it is not the government’s responsibility to shield companies from shifts in the market brought about by consumer preferences.

The things that have happened in other nations are similar to what has happened in New Zealand.

Google has agreements with a number of Australian media firms that are in compliance with its News Media Bargaining Code. These agreements contain provisions that permit an annual cancellation of these agreements.

Due to the government’s decision to exempt Google from the Online News Act, the company has committed to supporting news dissemination by contributing annually to the Canadian journalistic community.

The New Zealand measure is consistent with global approaches aimed at regulating the relationships that exist between technology corporations and media organizations.

It’s hard to say what will happen with the Fair Digital News Bargaining Bill as the discussion goes on. Google and the New Zealand media landscape are preparing for what might be a protracted legal battle.

SOURCE: TET