Category Archives: Online Funding / Investing Portals

Consultation Paper for Comment: Hong Kong SFC Sets the Stage for Retail Access to Crypto Platforms

Herbert Smith Freehills | March 1, 2023

Hong Kong crypto

A major virtual asset (VA) regulatory milestone occurred last week when the Hong Kong Securities and Futures Commission (SFC) published its much anticipated Consultation Paper on the proposed Regulatory Requirements for Virtual Asset Trading Platform Operators Licensed by the Securities and Futures Commission (Consultation Paper).

  • Among other things, the SFC proposes to allow all types of investors, including retail, to access VA trading platforms (VATP) provided the VATP comply with a range of robust investor protection measures.
  • The Hong Kong Financial Secretary also announced in his 2023-24 Budget speech that he will establish and lead a task force on VA development to provide recommendations on the sustainable and responsible development of the sector. With the Consultation Paper and proposed guidelines (see below), which run to over 350 pages, the SFC is seeking to strike a balance between investor protection and market development.

FFOCN23:  VIP Lunch & Learn: Meet King Leung, Head of Fintech, Invest Hong Kong on March 7 in Toronto

  • VASP licensing regime and draft VATP guidelines
    • The new licensing regime for virtual asset service providers (VASPs) under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO) will come into effect on 1 June 2023 (VASP Licensing Regime). As a result, all centralised VATP carrying on business in Hong Kong, or actively marketing their services to Hong Kong investors, will need to be licensed by the SFC.
    • The Consultation Paper sets out the proposed regulatory requirements for VATP operators, including draft Guidelines for Virtual Asset Trading Platform Operators (VATP Guidelines) that cover both licensing and conduct requirements and are based on the existing regulatory requirements applicable to VATP operators licensed under the Securities and Futures Ordinance (SFO) and the Terms and Conditions for VA Trading Platform Operators (VATP Terms and Conditions). However, certain modifications have been made to take into account feedback received from the industry.
    • Further details on the VASP Licensing Regime are provided here.
    • From 1 June 2023, all VATP operators, whether licensed under the SFO and/or the AMLO, will be subject to the VATP Guidelines.
  • A few key takeaways (lots more in full article):
    • Allowing retail access to eligible large-cap VAs – Licensed VATP operators may provide trading services to retail investors, provided that the VAs offered are “eligible large-cap VAs” (ie, VAs which are included in at least two “acceptable indices” issued by at least two independent index providers). Licensed VATP operators must seek the SFC’s advance approval before admitting VAs which would be made available to retail clients.
    • Token due diligence and admission criteria – Before admitting VAs for trading, licensed VATP operators must ensure that the VAs comply with the general token admission criteria.
    • Governance – Licensed VATP operators should set up a token admission and review committee to govern the criteria for VA to be admitted for trading, and to make final decisions as to whether to admit, halt, suspend and withdraw a VA for client trading. Where VAs are made available to professional investors only, SFC approval will not be required where a decision is made to add or remove such VAs, and only advance notification will be required.

See:  Hong Kong’s Finance Regulator Says ‘Blocks are Ready’ to Grow Digital Asset Ecosystem

  • Respond to Consultation Paper:  The Consultation Paper forms part of the Hong Kong Government’s policy towards developing a vibrant VA sector and ecosystem in Hong Kong. For additional information, please refer to our December, November and June 2022 briefings.
    • Interested parties should respond to the Consultation Paper by 31 March 2023.

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NCFA Jan 2018 resizeThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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Safest Online Payment Methods Available to Canadians in 2023

Feb 21, 2023

Online payment methods

The year 2023 is just around the corner and, with it, comes sugar, spice, and everything nice. Whether you are already planning your next vacation and want to book plane tickets in advance or looking for the most convenient way to make online payments in the future, the good news is that you have quite a few options at your disposal. The safest online payment methods available to Canadians make it easy for you to carry out transactions no matter the time and location. That being said, here come our top five picks for you to choose from the next time you want to make a safe payment.

Top five safest online payment methods available to Canadians

Keep in mind that this list is merely a suggestion of the five online payment methods we find to be safe, as well as popular. Feel free to do your own research and find a payment option that works better for your needs - if the following ones don’t have what you are looking for.

PayPal

When speaking of the most popular online payment methods available to Canadians, PayPal has to be near the very top of the list. And we have to admit that there’s a good reason why people all over the world love to rely on PayPal when making online transactions.

Clearly, this is one of the safest ways to make secure deposits, whether you are the one sending or receiving money. But the safety is merely the tip of the iceberg when it comes to PayPal’s full potential and appeal. PayPal is also one of the fastest ways to make deposits and withdrawals. Deposits usually take less than five minutes to complete – that’s the kind of promptness we are talking about here.

As for who can use PayPal, know that this service is great for both individuals and businesses. There are more than 200 million active individual accounts at the moment, as well as 7 million businesses offering PayPal.

eChecks

Are you used to relying on the good old checks to make any bigger purchases? Then you will love the more modern and efficient version of them – eChecks. They are a great way to make quick, safe, and convenient transactions without ever having to make a stop at your local bank. Already sounds like the perfect option, if you ask us.

Another thing people love about it is the fact that the transaction limit is generally higher in comparison to some other payment methods. Likewise, many institutions and establishments have recognized the potential of eChecks, which is why they consider it one of the main methods of payment. Therefore, you shouldn’t have a problem finding great eCheck casinos Canada residents love, nor should you have a problem using this payment method to cover your monthly installments. What’s not to like?

INSTADEBIT

Many people simply aren’t fans of e-wallets and pre-paid cards. And we get that. For those who want to rely on the good old bank-to-bank transfers when making online payments, they might want to look into INSTADEBIT. This might be a Canadian payment option that we are talking about, but INSTADEBIT is gaining popularity all over the world.

Judging by its name, you might be able to tell what it is that people like the most about this safe payment option. You guessed it – it’s the fact that the transaction processing time is pretty fast, so you will not be left hanging for days before your payment is processed. At the same time, INSTADEBIT has high-security measures in place, so you don’t have to worry about sensitive information being stolen. Likewise, the fees associated with this payment method are rather low, so you won’t have to worry about lost money.

ecoPayz

It’s safe to say that e-wallets have taken the world by storm. They are an easy way to complete transactions without having to deal with card numbers and bank transfers. And when talking about the safest online payment methods available to Canadians, one can’t fail to mention ecoPayz – a safe, quick, and cost-effective way to transfer your funds. Whether you are hoping to pay for the perfect gift for your spouse, buy that new purse you have been eyeing, or fund your passion for gambling, ecoPayz might be the solution to all of your problems.

The way ecoPayz works is simple. You just have to fund your account through your bank with as much money as you want. You can later spend that money on online purchases, or send it to other users. Repeat the process once the funds run out.

Keep in mind that ecoPayz works in a similar fashion as PayPal. Therefore, if you are already using the latter, there might not be a need for you to open an ecoPayz account, as well – and vice versa. Although, this is something only you can decide for yourself.

Paysafecard

The fifth and final option has become increasingly appealing to people who care about their online security. Your Paysafecard is a pre-paid card that works on a 16-digit PIN code. It’s independent of any bank account, credit card, or third party. All you have to do is visit your local sales outlet, fill the card with as much money as you see fit, and don’t hesitate to start spending it to your liking.

See:  Regulatory Consultation (Feedback by March 28, 2023): Retail Payment Activities Act (RPAA)

Obviously, one of the best parts about choosing this form of payment is in the incredible security that it offers. Since it’s completely independent of any bank and the pieces of information related to it, a Paysafecard presents one of the safest online payment methods available to Canadians. And because of everything that it has to offer and its long list of pros, this pre-paid card is an accepted payment option in many establishments nowadays. Of course, it never hurts to do some recon work before making a finite plan, but we have a feeling you won’t encounter problems with your Paysafecard. And if you do, you still have all of the options mentioned above to fall back on.


NCFA Jan 2018 resizeThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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Will Binance Severes U.S. Ties in Face of Crypto Crackdown

Coindesk | Nelson Wang | Feb 17, 2023

Freepik – rawpixel.com, compliance

Image: Freepik/rawpixel.com

Binance Holdings, the world’s largest crypto exchange by trading volume, is considering severing its ties with U.S. business partners as various government agencies and regulators continue to investigate the company, according to a report from Bloomberg, citing a personal familiar with the issue.

  • Severing Ties with the U.S.?  Binance founder and CEO Changpeng Zhao is looking to end relationships with U.S. banks and service firms, and is also re-evaluating its U.S. venture capital investments, according to Bloomberg’s source. Binance is also considering delisting tokens issued by U.S.-based projects, including Circle’s USDC stablecoin, Bloomberg wrote.
  • CZ's response:  Shortly after the report was published on Friday, Zhao denied the exchange was considering delisting tokens attached to U.S.-based projects on Twitter, adding blockchain “has no borders.  We pulled back on some potential investments, or bids on bankrupt companies in the U.S. for now. Seek permission first,” Zhao said in another tweet.

See:  Binance Temporarily Suspends U.S. Dollar Deposits and Withdrawals

Continue to the full article --> here


NCFA Jan 2018 resizeThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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What Makes Gold A Compelling Global Investment?

Feb 17, 2023

AdobeStock – Gold Investment

Gold is one of the earliest traded commodities in human history. Gold was common among royals and wealthy families for thousands of years. However, over the years, it has become one of the popular ways to invest your hard-earned money.

Investing in gold is easier said than done. You may encounter several challenges, especially as a newbie investor. For this reason, it's important you research extensively to guarantee you're equipped with the necessary know-how before venturing into this ever-growing industry, saving you from losing hard-earned money.

The following article outlines what you need to know about gold investment. You'll learn the popular ways of investing in gold, why it's a compelling global investment, and more.

What Are The Ways To Invest In Gold?

There are several ways to invest in gold, including:

1. Purchasing Physical Gold

Physical gold (bullion) is available in two forms, coins or bars. It's a popular investment for those who want to 'feel' wealthy, as you commonly see in movies. Due to its growing popularity, there are many suppliers you can choose from. Due to this, it can be challenging to get the right supplier, which can compromise your entire investment. However, consider exploring the Gainesville Coins gold investment options or any other on your reputable local store to make it easier to invest in gold bullion.

2. Investing In Gold Mining Stocks

If you want to avoid investing in physical gold, this might be an option for you. In a typical situation, when the price of gold rises, the value of your mining stocks and shares should also increase. However, it's important to conduct due diligence to ensure you're investing in a mining company with the potential of expanding in the future, saving you from losing your money.

Other popular methods of gold investment include exchange-traded funds (ETFs), individual retirement accounts (IRAs), and gold futures. The method you'll choose will depend on your goals. Hence, research extensively to guarantee you choose the right investment option, boosting your potential return on investment (ROI).

Why Is Gold A Compelling Global Investment?

The following are reasons why you should consider investing in gold.

1. Acts As Inflation Hedge

When investing, consider one thing that might affect the value of your investment in the long run. That is inflation. When there is inflation, the value of fiat currency will drop. Hence, if you have money saved in your local bank, its value may decrease from when you started saving. For this reason, investing in a plan that might act as an inflation hedge is important.

Enter gold investment. Gold has a negative correlation with fiat currencies such as the dollar. Hence, when the value of fiat currency drops, the value of gold is expected to rise, protecting the value of your investment.

However, it's important to understand despite the excellent past performance of gold, it doesn't always guarantee favorable results. Hence, investors need to research the market and reach out to reputable advisors before leaping into this ever-growing marketplace and avoid common investment mistakes.

2. Portfolio Diversification

This is another reason why gold has become a compelling global investment. Although it might be a small moneymaker, gold investment is an easy way to spread out your money across several asset classes, each with a unique risk factor. In other words, it'll help you avoid having all of your savings or money in 'one basket,' which can be affected by one recession or market downtime.

For instance, if you put all your money in paper investments such as stocks or shares, you may lose your hard-earned money over a short period if there's a market crash. However, putting a portion of your money in real estate and another in gold may help diversify your portfolio and save you from the volatility of some asset classes. 

AdobeStock – Portfolio diversification

3. Liquidity

When you're investing in an asset class, ensure you consider its liquidity. A highly liquid asset class makes it easier to convert your investment into cash to address an emergency or take advantage of market movements. Gold investment is highly liquid, and you can easily sell it on a reputable exchange platform. However, it would be best if you were extra cautious when liquidating your gold investment to avoid being duped by fraudulent individuals out there.

In Summary

In the ancient era, gold was used to make jewelry, and it was common among the royals and the wealthy. However, over the years, it has become an excellent investment plan. The major benefits of investing in gold investment include inflation hedge, portfolio diversification, easy conversion to cash, and more. Reaching out to reputable financial advisors in your locality is always advisable to ensure you're fully informed with all the necessary information before venturing into this ever-growing industry.


NCFA Jan 2018 resizeThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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NCFA Fintech WhispererNCFA Fintech Fridays PodcastNCFA Weekly Newsletter

 

Why Canadians have more in common with the UK than the US

Feb 16, 2023

Unsplash – Tom Athawes, London UK

Image: Unsplash/Tom Athawes

Canada is often compared to the United States due to its geographic proximity and shared border, but in reality, Canadians have more in common with the United Kingdom than with their southern neighbor. The cultural, political, and economic ties between Canada and the UK have deep roots that continue to influence Canadian identity and values. In this blog article, we will explore the reasons why Canadians have more in common with the UK than with the US.

In this blog article, we will examine the historical background of Canada's ties to the UK, including the impact of British colonization on Canadian culture and values. We will also explore the differences between the British parliamentary system and the US presidential system and how this impacts Canadian society. Additionally, we will compare social policies in Canada and the UK, such as healthcare and education, and how these policies have shaped Canadian identity. We will also analyze the cultural similarities between Canada and the UK, such as language and literature. Finally, we will look at economic relations between Canada and the UK and how this impacts Canadian identity and culture. By the end of this article, readers will have a better understanding of the unique relationship between Canada and the UK and why Canadians have more in common with the UK than with the US.

Historical Background

The history of Canada's ties to the UK can be traced back to the British colonization of Canada in the 16th century. The British established colonies in what is now Nova Scotia and Newfoundland, and later expanded into present-day Ontario and Quebec. Over time, the British brought their culture, language, and political systems to Canada, which had a significant impact on Canadian identity and values.

The cultural and political impact of British rule in Canada is still felt today. British colonialism laid the foundation for Canadian society and culture, including the development of the English language, British common law, and parliamentary democracy. The British influence can also be seen in Canadian literature, art, and music. Canada's multicultural identity is also partially rooted in British immigration, which brought people from different regions of the UK to Canada.

In contrast to Canada's ties to the UK, the United States gained independence from Great Britain in 1776 and developed a separate cultural and political identity. The US was founded on principles of democracy, freedom, and individualism, which are different from the values that underpin Canadian society. While Canada was a British colony, the US was influenced by various European cultures and was able to develop its own unique cultural identity.

In summary, the British colonization of Canada had a significant impact on Canadian culture and values, and this influence is still felt today. While the United States developed its own separate cultural and political identity, Canada's ties to the UK have continued to shape Canadian society.

Cultural Similarities

The influence of British culture on Canadian society is particularly evident in language and literature. The English language and British common law were brought to Canada by the British colonizers, and these institutions continue to be an important part of Canadian society. Canadian literature, particularly in the 19th and 20th centuries, was heavily influenced by British writers and themes, such as Charles Dickens and the Victorian era. This literary tradition continues to this day, with many Canadian authors drawing inspiration from British literature and culture.

In contrast to Canada's ties to the UK, the United States has been shaped by a diverse range of cultural influences, including European, African, and indigenous cultures. American culture is often associated with Hollywood movies, pop music, and consumerism, which are different from the cultural values that underpin Canadian society.

The cultural similarities between Canada and the UK have had a significant impact on Canadian identity. Canadian society has been shaped by a mix of British, French, and indigenous cultures, which has resulted in a unique blend of values, traditions, and practices. Canada's multicultural identity is partially rooted in the British immigration that brought people from different regions of the UK to Canada. Additionally, the shared cultural heritage between Canada and the UK has contributed to a strong sense of national identity, particularly among older generations of Canadians.

However, it is worth noting that Canada's cultural identity is constantly evolving, and it is not limited to its ties to the UK. For example, the growth of the entertainment industry in Canada has given rise to its own unique cultural products, such as the Cirque du Soleil and popular Canadian bands like Arcade Fire. Additionally, Canadian identity is not homogeneous, and different regions of Canada have their own distinct cultural identities, such as the Québécois culture in Quebec.

In conclusion, the cultural similarities between Canada and the UK have had a significant impact on Canadian identity, but Canada's cultural identity is constantly evolving and is not limited to its ties to the UK. Casinos like on this site are also a new and emerging aspect of Canadian culture, reflecting the country's progressive and liberal attitude towards gambling and entertainment.

Political Systems

The British parliamentary system is a system of government in which the executive branch is responsible to the legislative branch, with the head of government (the Prime Minister) selected from the majority party in the legislature. The adoption of this system in Canada can be traced back to the British North America Act of 1867, which established the Dominion of Canada and laid the foundation for Canadian parliamentary democracy. Today, Canada's parliamentary system is based on the Westminster model, which originated in the UK.

In contrast to the British parliamentary system, the United States has a presidential system of government, in which the executive branch is separate from the legislative branch. The President is both the head of state and the head of government and is elected separately from the legislative branch. This system is based on the US Constitution, which was written in 1787.

The political system has had a significant impact on Canadian values and culture. The parliamentary system fosters a culture of compromise and cooperation between political parties, which has contributed to Canada's reputation for being a peaceful and politically stable country. The system also promotes the idea of collective responsibility, in which the government is accountable to the people and must work in the best interests of the country as a whole.

In contrast, the presidential system in the US promotes individualism and competition between political parties. This can result in a more adversarial political culture, in which compromise is often viewed as a sign of weakness. The system also places a significant amount of power in the hands of the President, which can lead to a more centralized form of government.

Economic Relations

Canada and the UK have a long history of economic ties. The two countries are both members of the Commonwealth of Nations and have a shared legal and cultural heritage. In recent years, the UK has been one of Canada's top trading partners, with bilateral trade totaling more than $22 billion in 2019. The two countries have a strong economic relationship in a number of sectors, including finance, aerospace, and renewable energy.

While the US is Canada's largest trading partner, the economic relationship between the two countries is often characterized by tension and disagreement. The US has imposed tariffs on a number of Canadian goods, such as lumber and steel, which has led to strained relations between the two countries. Additionally, the US has been a vocal critic of Canadian policies, such as the government's support for the dairy industry.

Economic relations with the UK and the US have had a significant impact on Canadian identity and culture. The strong economic ties between Canada and the UK reflect the historical and cultural links between the two countries, and have contributed to a shared sense of identity and values. In contrast, the sometimes contentious economic relationship with the US has highlighted the differences between the two countries and has led to a sense of Canadian identity that is distinct from that of the US.

Additionally, Canada's economic ties with other countries, such as China and the European Union, have contributed to the country's multicultural identity and have helped shape its place in the global economy. Canada's open and liberal approach to international trade reflects the country's progressive values and has helped shape its reputation as a peaceful and welcoming nation.

In summary, economic relations with the UK and the US have had a significant impact on Canadian identity and culture. The strong economic ties with the UK reflect the historical and cultural links between the two countries, while the sometimes contentious economic relationship with the US has helped to define Canada's distinct identity and values. Additionally, Canada's open and liberal approach to international trade has contributed to the country's multicultural identity and has helped to shape its reputation as a peaceful and welcoming nation.

Conclusion

In this blog article, we have explored the reasons why Canadians have more in common with the UK than with the US. We have examined the historical background of Canada's ties to the UK, including the impact of British colonization on Canadian culture and values. We have also looked at the differences between the British parliamentary system and the US presidential system and how this impacts Canadian society. Additionally, we have compared social policies in Canada and the UK, cultural similarities, and economic relations between Canada and the UK and the US, and how these have impacted Canadian identity and culture.

In summary, we can see that Canadians have more in common with the UK than with the US. The cultural, political, and economic ties between Canada and the UK have deep roots that continue to influence Canadian identity and values.

See:  Will Crypto Recover in 2023? Quite Possibly, and Here’s Why

While Canada's ties to the UK are significant, it is important to remember that Canada's cultural identity is constantly evolving, and is not limited to its ties to the UK. Canada is a multicultural society, with a diverse range of influences that contribute to its unique identity and values. However, it is clear that the historical, cultural, and economic ties between Canada and the UK have had a significant impact on Canadian society and have contributed to a shared sense of identity and values. As Canada continues to evolve and grow as a nation, it will be interesting to see how these ties continue to shape Canadian identity and culture.


NCFA Jan 2018 resizeThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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Breaking Down What Cryptocurrency’s Total Market Cap Means

Feb 12, 2023

Pexels – AlphaTradeZone, crypto index

Image: Pexels/AlphaTradeZone

When you look at crypto, you might see dollar signs. You may feel you can buy some and hold it, and you’ll see the value increase. Sometimes this happens, though there’s no guarantee.

You can also spend crypto since some online merchants take it. Some brick-and-mortar stores even take it now, though they’ll usually only accept Bitcoin or Ethereum. You can spend your crypto or hold onto it. You can also trade it.

When you look at a coin’s value, you can see the price rise and fall, just like a stock does in the stock market. You should also note the coin’s market cap since that shows you possible long and short-term market trends.

Let’s discuss crypto’s total market cap in greater detail.

What Does the Overall Market Cap Mean?

Sizing up the overall crypto total market cap lets you know about the crypto market in general. You can also look at a single coin’s market cap.

Market cap means market capitalization. If you inquire about crypto’s total market cap, you’re asking about the whole crypto market’s worth. That includes all the crypto forms taken together, including large ones like Ethereum and Bitcoin and smaller ones like Dogecoin.

Crypto’s total market cap now receives a more than $1 trillion valuation. That rises and falls as crypto’s popularity increases and decreases.

What About a Single Coin’s Market Cap?

A single crypto form’s market cap isn’t the total market cap. It means you’re looking at a single coin instead of the whole market.

To calculate a single coin’s market cap, you can use this formula. Calculate the circulating supply x the current price. Something like Bitcoin has over a $400 billion market cap. That’s by far the most valued one. Ethereum sits at around $200 billion. The others fit in somewhere below those two.

Do You Want Higher Total and Individual Market Caps?

Generally, a higher total market cap means people value the crypto market more. If you’re investing in a crypto portfolio or index that a company offers, that’s good news. A higher total market cap means you’re doing well and your crypto investments are up.

If you sell them when the total market cap gets higher, you can make a profit. You can also hold your investments and wait. They might go up even more, though the market may also drop.

As for higher individual coin market caps, those really only help if you hold that particular coin at the time. If you see that Bitcoin Cash went up, for instance, and you have some, you might sell at that moment.

That’s why you should monitor your individual coin’s market cap as it fluctuates. If you’re a day trader with crypto, like with stocks in the stock market, you might identify and leverage trends and make a quick profit.

When Should You Sell Your Crypto?

You might also look at the total crypto market cap value and individual crypto market cap values and wonder when you should sell or trade your currency. In theory, you can just wait till the individual market cap value goes up if you have a single coin. You can wait till the total cap value goes up if you have several coins in a portfolio or index.

See:  The Use of Cryptocurrency in the Fundraising and Venture Capital Industry

However, you might also look at the crypto market in a larger context. The market will often dip or rise from a single world event or economic factor. Something like the war in Ukraine breaking out can shake up the market, like you will see with the stock market. If that happens, you must consider whether you might see a fast market rebound or a slow, gradual one.

If you can afford patience, waiting while the market rebounds makes sense. If you’re antsy, though, you might sell off all your crypto when the market’s total cap value starts sliding.

Usually, investing only works with patience. Like the stock market, the thought prevails with crypto that if you leave your money in these assets for years, you’ll see a profit when you eventually cash out. Maybe that happens after several decades when you retire.

Crypto day trading has the same potential angst that comes with stock market day trading. You might cash in if you pull the trigger at the right time. If you feel you can predict the right moment to sell based on total market cap valuation, you may use that as one of your main determining factors.


NCFA Jan 2018 resizeThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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How Do You Secure Trade Online?

Guest Post | Feb 9, 2023

Unsplash – Saksham Choudhary, you’ve been hacked

Image: Unsplash/Saksham Choudhary

With more and more people using online platforms, online trading has become a big business today. While trading online has many benefits, it always exposes you to many dangers.

Protecting your online trades from emerging cyber threats is important by following secure practices.

In this article, we have talked about the different practices that will help you secure your online trade.

Use A Secure VPN Connection

A VPN (Virtual Private Network) connection helps secure online trading by encrypting all data sent and received between your device and the internet. This means that anyone who might try to intercept or monitor your internet traffic, such as hackers or government agencies, will be unable to access the information being transmitted. This provides a higher level of security and privacy for online trading activities, as sensitive information such as financial details and personal information is protected.

In addition, a VPN can help you bypass restrictions and censorship, allowing you to access trading platforms and websites that may be blocked in your country. This can be especially useful for traders who need to access information or execute trade shares from different locations worldwide.

Finally, a VPN can also help protect against online threats such as phishing, malware, and other cyber attacks. A secure VPN connection can reduce the risk of hacking your online trading account and ensure that your sensitive information stays safe and secure.

Set Up Strong Password

Setting up a strong password is an essential step in securing online trading. A strong password helps to protect your online trading accounts and the sensitive information associated with them from unauthorized access. Here are some tips for setting up a strong password:

Length: Make sure your password is at least 12 characters long. The longer the password, the more secure it will be.

Complexity: Use a combination of upper and lower case letters, numbers, and special characters to make it harder for others to guess.

Uniqueness: Avoid using easily guessable information such as your name, birthdate, or common words. Also, do not reuse passwords across different accounts.

Regular changes: Regularly change your password, at least once every three to six months, to reduce the risk of it being compromised.

Close Trading Session

Closing a trading session is an important step in securing online trading. When you close a trading session, you effectively log out of your trading account, which helps to protect your sensitive information and financial details.

Here are some reasons why it's important to close your trading session:

  • Prevent unauthorized access: By closing your trading session, you prevent unauthorized access to your account, even if your device is lost or stolen.
  • Protect sensitive information: Closing your trading session ensures that your personal and financial information is protected, even if you use a public or shared computer.
  • Avoid accidental trades: Closing your trading session can also help prevent accidental trades or other mistakes if you leave your trading platform open.
  • Maintain privacy: Closing your trading session helps ensure that others cannot see your financial information or trading activities.

Closing your trading session is a simple yet effective step to secure your online trading activities and protect your sensitive information. It's important to always log out of your trading account when you're finished trading, especially if you are using a public or shared device.

Use Two Factor Authentications

Two-factor authentication (2FA) is a security measure that provides an extra layer of protection for online trading. 2FA requires the user to provide two forms of identification before accessing their trading account, making it more difficult for unauthorized users to gain access.

Here's how 2FA works in the context of online trading:

The first factor is usually a password, which the user enters as normal.

The second factor is a code generated by a separate device, such as a smartphone, and is required to complete the login process. This code can be sent via text message or an authentication app, such as Google Authenticator.

By requiring two forms of identification, 2FA makes it much more difficult for hackers or unauthorized users to access your online trading account. Even if they could obtain your password, they would still need access to the device that generates the second-factor code to log in.

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In conclusion, 2FA is an important step in securing your online trading activities. It provides an extra layer of protection for your sensitive information and helps to prevent unauthorized access to your trading account. If your trading platform supports 2FA, it is highly recommended that you set it up and use it to secure your online trading activities.

Finally, Beware Of Scams

It's true that online trading can be vulnerable to scams, so it's important to be aware of them and take steps to protect yourself. Here are some tips for avoiding scams in online trading:

  • Be cautious of unsolicited emails or phone calls: Be wary of any unsolicited emails or phone calls claiming to be from your broker or offering "too good to be true" investment opportunities.
  • Do your research: Before investing in any trading platform, do your own research to ensure that it is reputable and trustworthy. Read reviews and check the company's background to see if there are any red flags.
  • Verify the credentials: Make sure to verify the credentials of any broker or investment advisor before making a deposit. Look for certifications, licenses, and regulatory approvals.
  • Keep personal information private: Never reveal your personal or financial information to anyone unless you know their identity and credibility.
  • Use secure payment methods: Always use secure payment methods, such as credit cards or secure online payment platforms, when making a deposit or withdrawal.

By being vigilant and taking steps to protect yourself, you can help reduce the risk of falling victim to scams in online trading. If you suspect you have been scammed, report it immediately to the relevant authorities and seek professional help to recover your funds.


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