WEALTHSIMPLE ramped up its retirement plans by launching a portfolio with an allocation to cryptocurrency ETFs, and the Shiba Inu coin is back up.
The company said it hopes that the launch of its new portfolio will boost employee participation in employer-sponsored savings plans and encourage workers to save for their retirement, according to Financial Post.
Shiba Inu coin’s price had dropped more than 20 percent as of 10am ET on Thursday, according to CoinBase. However, it is now up more than 28 percent as of 5:00pm ET on Friday.
Shibu Inu is a cryptocurrency token that allows users to hold trillions of them.
Tokens of Shiba Inu feature the same dog as Dogecoin, which has become one of the most popular cryptocurrencies this year.
Read our cryptocurrency live blog for the latest news and updates…
RISKS OF INVESTING IN CRYPTOS, PART THREE
A third risk of investing in cryptocurrencies is product complexity.
The complexity of some products and services relating to cryptoassets can make it hard for consumers to understand the risks.
There is no guarantee that cryptoassets can be converted back into cash.
Converting a cryptoasset back to cash depends on demand and supply existing in the market.
RISKS OF INVESTING IN CRYPTOS, PART TWO
Another risk of investing is price volatility.
Significant price volatility in cryptoassets, combined with the inherent difficulties of valuing cryptoassets reliably, places consumers at a high risk of losses.
RISKS OF INVESTING IN CRYPTOS
We rounded up five risks of investing in cryptocurrencies.
The first is Consumer protection.
Some investments advertising high returns based on cryptoassets may not be subject to regulation beyond anti-money laundering requirements.
EXPERT COMMENTS ON TETHER’S VALUE
Despite its claim to be a stablecoin, Tether has still witnessed spikes and sharp falls in price, Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown, noted in May.
She told The Sun: “It has also been criticized for a lack of transparency, has had to settle US lawsuits, and trading in the currency is banned in the state of New York.”
WHAT IS TETHER?
The Tether cryptocurrency, which is also known as USDT, was officially launched as Realcoin in 2014, but has since changed its name.
It’s described as a “stablecoin”, which is a type of cryptocurrency that aims to keep crypto values stable.
Tether aims to do this by pegging the price to a regular “fiat” currency, like US dollars, Euros or the Chinese yuan.
Tether claims to keep values steady by holding reserves in that currency in a bank.
NEW CRYPTOCURRENCIES RELEASED IN 2021, PART FOUR
Red Shiba is a BSC token available on PancakeSwap.
It is described as “a token of the Red universe, it aims to strengthen the ecosystem that the Red Team is designing, a universe without Rug, Fair-play and beneficial to all fans of memes tokens”.
It was inspired by the highly successful Shiba Inu Token.
NEW CRYPTOCURRENCIES RELEASED IN 2021, PART THREE
Landshare coin premiered on August 2, 2021.
It was initially priced just over £2.60.
The market cap is now more than £2million.
Landshare is a DeFi platform on the Binance Smart Chain.
It offers a hassle-free alternative to traditional real estate investments.
NEW CRYPTOCURRENCIES RELEASED IN 2021, CONTINUED
As their website states: “Orica is built for first-time cryptocurrency users.”
“Orica is built for those who have a personal appreciation for creativity and are on the lookout for great art.”
NEW CRYPTOCURRENCIES RELEASED IN 2021
BitClout is an open-source cryptocurrency project and social media platform.
Users are able to buy and sell “creator coins” – based on their reputation.
For example, when they do something positive, the coin gains value.
When the coin hit the market in June, it started trading at £129.
CRYPTO AND BLOCKCHAIN SCAMS
Cryptocurrencies operate on blockchain networks.
Scammers often claim their blockchain is “in development” or “about to be released,” but all legitimate cryptos will have an accompanying website to verify the currency.
Users can type the name of the crypto into any search engine with the phrase “blockchain explorer” or “blockchain scan” to find the connected blockchain, if it even exists.
WHAT ARE RED FLAGS OF SCAMS?
Gizmodo shared that other red flags of the SQUID coin being illegitimate was that the website that the creators launched was filled with spelling and grammatical errors.
The crypto’s telegram channel also did not allow comments from outsiders, and its Twitter account did not allow users to reply to posts, which Gizmodo flagged as suspicious.
WAS THE SQUID SCAM OBVIOUS?
Gizmodo warned of the scam on Friday, but the warning did not reach everyone.
The site revealed that the largest red flag was that investors could invest in the coin, but not sell it.
SQUID CRYPTO SCAMMERS RUN OFF WITH $2.1MILLION
After the SQUID coin launched just last week, its creators pulled the rug on the project, and cashed in the coins for real money.
Investors who fell victim to the scam lost an estimated $2.1million.
CRYPTO-TRADING HAMSTER, CONTINUED
The four-legged financial fiend is not completing transactions himself, of course.
Instead, Goxx’s trading decisions are made inside a camera-rigged “office” attached to his regular cage.
Every day, when he enters the office, a stream is started on Twitch and a tweet is sent out to his followers notifying them that trading has begun.
The hamster then runs on an “intention wheel” that chooses one of 30 different cryptocurrencies to trade.
A CRYPTO-TRADING HAMSTER OUTPERFORMS MARKET
A hamster in Germany is trading in cryptocurrencies and has consistently been outperforming the S&P 500.
The furry animal, called Mr Goxx, has been busy working since June, thanks to a specially adapted cage.
He determines which currencies to buy or sell by running on his wheel or walking through one of two tunnels.
Mr Goxx started trading on June 12 this year.
The site states that the page is just for fun and does not offer financial advice.
MUSK TWEETS ABOUT UNIVERSITY WITH ‘TUITION’ IN ‘DOGECOIN’
On October 29, Elon Musk tweeted, “Am thinking of starting new university: Texas Institute of Technology & Science.”
He later added below that tweet on Halloween, “Tuition is in Dogecoin & u get a discount if u have a dog.”
WHAT WILL SHIBA INU BE WORTH IN 2022?
Plenty of cryptocurrency fans have predicted Shiba Inu’s value for 2022, but you should take it with a pinch of salt as those guesses are nowhere near guaranteed.
For example, crypto website Wallet Investor expects a value of up to $0.000018 in a year’s time.
Meanwhile, Coin Price Forecast expects Shiba Inu to hit a value of $0.00002336 by the middle of next year.
It then expects it to end the year at a slightly higher level of $0.00003037.
WHAT IS SHIBA INU COIN, CONTINUED
Whether you’ve already invested or not, keep in mind that making money through cryptocurrencies or other investments is never guaranteed, even with a popular one like Shiba Inu.
Cryptocurrencies are especially volatile, so their values can crash with little to no notice.
WHAT IS SHIBA INU COIN?
Shiba Inu is a cryptocurrency token that allows users to hold trillions of them.
The tokens feature the same Shiba Inu dog as Dogecoin, which has risen massively in popularity recently.
CRYPTO AUDIO STREAMING
Audius is a crypto-powered music streaming platform.
It’s owned and controlled by token holders – and tokens are called Audio.
According to Audius, over 5.3million people have used the platform this month.
Audio has been listed on CoinMarketCap since October 2020, and has rocketed in value following a deal with Chinese-owned social media giant TikTok.
BITCOIN SCORES NEW HIGH AFTER DORSEY TWEET
Bitcoin’s price hit a six-month-high of $62,000 after Dorsey tweeted about the possible Square development, according to CoinDesk and Business Insider.
That surge launched its year-to-date gains to 114 percent.
WHO IS BEHIND ALGORAND?
The Algorand Foundation based in Singapore is behind the project.
Algorand claims that it speeds up transactions and improves efficiency when compared to bitcoin and other blockchains.
WHAT IS ALGORAND?
Algorand is a cryptocurrency of the Algorand blockchain, a public decentralized network on which smart contracts can be built.
It was created in 2019 by Silvio Micali, a professor a the prestigious Massachusetts Institute of Technology (MIT).
The computer scientist has also won the Turing Award for his work in the area of cryptography.
WHAT IS HBAR CRYPTO?
Hashgraph is similar to a blockchain and was created in 2017 by American computer scientist Leemon Baird.
The Hedera Hashgraph system is a distributed ledger built on Hashgraph and was created by Baird along with Mance Harmon.
HBAR is the cryptocurrency of the Hedera Hashgraph.
The company itself expalins: “HBAR is the native, energy-efficient cryptocurrency of the Hedera public network.”
SQUARE MAY BUILD BITCOIN MINING HARDWARE
Square CEO Jack Dorsey said the company may create a bitcoin mining rig in a recent tweet, according to Business Insider.
“Square is considering building a bitcoin mining system based on custom silicon and open source for individuals and businesses worldwide,” CEO Dorsey said in a tweet.
“If we do this, we’d follow our hardware wallet model: build in the open in collaboration with the community.”