Altcoin Aversion: Poll Shows That Two-Thirds of Crypto Investors Are Bitcoin Maximalists

The crypto community is an opinionated bunch. Everyone has their favorite coin, be it Bitcoin or an altcoin, and investors love to share and defend their …

The crypto community is an opinionated bunch. Everyone has their favorite coin, be it Bitcoin or an altcoin, and investors love to share and defend their opinions with other crypto enthusiasts.

They also like to vote, and in a recent poll, it was revealed that the majority of crypto investors are predominantly Bitcoin maximalists, despite thousands of altcoins being available in the crypto market.

68% of Crypto Investors Prefer Bitcoin, Altcoins Are an Afterthought and a Risk

A recent poll was shared on Twitter by crypto analyst Dave the Wave, whose recent analysis includes looking at the weekly MACD in order to conclude if the bottom of the Bitcoin bear market is in. In the poll, the long-term chartist asks if a “newbie” were to have capital to invest in crypto for the next four years, how the portfolio allocation should break down.

So say a newbie has a sum of money to invest for the next 4 years in Crypto. What would you suggest?

— dave the wave (@davthewave) March 10, 2019

Of the options available for respondents to choose from was “all in BTC,” “all in alts” such as Litecoin or EOS, “30% in BTC, 70% in alts,” or “70% BTC, 30% alts.”

The overwhelming majority voted that leaning heavily toward Bitcoin allocation in one’s portfolio, while having at least some exposure to alts is the best way to invest in cryptocurrencies. A whopping 42% of respondents voted this way.

Related Reading | Majority of Crypto Investors See Bitcoin Price at $100,000 to Millions Long-Term

Following behind with a little more than a quarter of all votes at 26%, is the recommendation to be all in Bitcoin. With Bitcoin being the first ever cryptocurrency, the crypto with the most mainstream adoption, brand power, development, and regulatory framework, it shouldn’t be surprising to see Bitcoin being recommended as the bulk of one’s crypto investment portfolio.

Next up, with 22% of the votes is the recommendation to invest in 30% Bitcoin, and the remaining 70% in altcoins such as Litecoin, XRP, Ethereum, and others. These investors see the possibility of more returns by investing in altcoins, however, realize that Bitcoin should be included in any sound crypto investment strategy.

Related Reading | Crypto Comeback: One Simple Chart Proves Altcoin Season Is Upon Us

The least recommended of the options, was going all in on alts. Cryptocurrencies are a risky asset class in general. Add in thousands upon thousands of altcoins with little to no use case currently, and there’s a recipe for disaster for the uninformed investor. Most altcoins have only been on the market for half of Bitcoin’s existence, many less, and have had less time to develop a working product or gain recognition in the industry.

The grand total of Bitcoin maximalists responding to the poll clocks in at 68% of all 1700 voters, leaving the remaining less than one-third either only or primarily focused on altcoins. While Bitcoin is clearly the best for a long term investment strategy, an altcoin season may be upon us which would result in the smallest percentage of investors realizing the most short-term gains.

Featured image from Shutterstock

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Opinion: Samsung Galaxy S10’s cryptocurrency support is really good

The end result is that it’s a phone to which you can download a cryptocurrency wallet, making the user experience functionally identical to any other …
Andrew Munro14 March 2019NEWS

Samsung’s innate cryptocurrency support on the Galaxy S10 exceeds all sensible expectations.

The Samsung Galaxy S10 smartphone made a splash in the cryptocurrency world. First, there were rumours of it having a built-in cryptocurrency hardware wallet.

These rumours were confirmed in a fashion, by a press release from 20 February 2019 which carefully stated that the phone would have “secure storage backed by hardware, which houses your private keys for blockchain-enabled mobile services”.

Hype was further stoked at the Barcelona Mobile World Congress when Samsung touted “Block Chain” features including a digital wallet, and implied support for Bitcoin, Ethereum, Enjin and Cosmee.

Now the phone is finding its way into people’s hands and a common sentiment among crypto enthusiasts is that it lacks the expected blockchain beef.

What it doesn’t have

The most glaring absence according to many is that the hardware wallet doesn’t support Bitcoin. By itself this is enough to convince a lot of people that Samsung isn’t taking this whole crypto thing seriously.

It’s “akin to your broker at Charles Schwab or Fidelity telling you that your 401(k) lets you invest in silver, copper and other metals but not gold” lamented an editor at Bitcoin Magazine.

The other disappointment comes from the apparent belief that it would have innate hardware wallet support, in the form of some kind of pre-installed in-your-face app that jumps right out at users.

But it doesn’t. Instead you have to download the wallet app from Samsung’s Galaxy Store. The end result is that it’s a phone to which you can download a cryptocurrency wallet, making the user experience functionally identical to any other smartphone that lets you download a mobile cryptocurrency wallet.

After a lot of hype, people are feeling pretty underwhelmed by it all.

What it does have

Although it doesn’t have Bitcoin, it does provide a full degree of support for Ethereum ERC20s. And while it doesn’t have a pre-installed wallet, it is still unambiguously a built-in cryptocurrency hardware wallet which uses the offline “enclave” built into the phone.

Based on user descriptions, the installation process will be quite familiar to anyone who’s used a hardware wallet before. When you run the app, it will walk you through the process of setting up a PIN and getting your seed phrase, reminding you that if you lose your seed phrase you’re screwed, and so on.

The most anomalous part of the experience is that the phone will ask for a range of permissions to use the wallet, like access to phone calls and the camera, so that’s pretty weird.

Why it’s actually really good

Firstly, it’s unambiguously a Samsung cryptocurrency hardware wallet. No matter how you slice it, Samsung has built a cryptocurrency hardware wallet into its phone. Sure, it probably wasn’t too difficult given that the phone’s security suite was always going to include offline data storage anyway, but it’s definitely there.

And to be crystal clear, it is a good thing that you have to separately download the wallet. It would be very bad if it came pre-installed.

There are some things to complain about, but this is not one of them.

The most important reason is because pre-installed wallet software would be an unacceptable security risk. This is exactly the same reason you do not get pre-installed software on other hardware wallets, but instead have to buy the wallet and then download the software.

Firstly, because pre-installed wallets mean people could be unwrapping and using new phones with outdated wallet software and exploitable vulnerabilities. Requiring people to download the wallet app before using it adds a lot of security by ensuring people with new phones are downloading the latest version.

Secondly because it reduces the risk of people getting burnt by buying second hand phones later, buying tampered-with ex-display models, or purchasing from unscrupulous sellers. It’s relatively easy to ensure that hardware wallet supply chains are tightly controlled, in part because all users are relatively security conscious. Smartphones are an entirely different can of worms.

Thirdly, because downloading the software presents new opportunities to do things like check the genuineness of a device.

Pre-installing a cryptocurrency wallet on the Galaxy S10 would also be dangerously irresponsible, verging on negligent, on Samsung’s part.

They still aren’t the most user friendly things around. How many other apps can you download which simultaneously hold potentially large amounts of money, and warn you that if you lose your password and your phone you are 100% guaranteed screwed? Shoving that at unsuspecting users is a frankly stupid idea. One of the first things people do with a new phone is poke around the pre-installed apps and most people obviously wouldn’t be ready to catch a recovery seed thrown in their face.

If the wallet was pre-installed, people would be almost guaranteed to lose money and it would arguably be Samsung’s fault.

And last but not least, unwanted pre-installed software on consumer devices is not a good thing. This remains true regardless of how you feel about cryptocurrency.

For perspective

The wallet software you download is Samsung’s own. It comes with its own innate features such as the CoinDuck payment app.

And like most other ERC20-specific crypto wallets, it lets you manually add any ERC20 tokens you want, while offering default support for a handful of the more popular ones. These include ZRX, BNB, REP, TUSD, PAX and more. It’s a fairly respectable range with some fairly clear applications.

juicy crypto words

For example, you can use the Samsung Galaxy S10 app to securely send any amount of USD-pegged stablecoins to any other Galaxy S10 user (who’s downloaded the wallet app), anywhere in the world almost instantly with near-zero fees. Sure you could previously do it with other mobile wallets, but not as easily or securely, and not through a Samsung app.

You shouldn’t underestimate how much legitimacy this gives the app, and how much more easily the Samsung Galaxy wallet could be framed as a more general wallet and payment app than others.

It has a real need too. Transferring money internationally is still very expensive, even with more traditional mobile money apps, and regulatory and banking issues mean fiat wallet apps tend to have limited ranges of countries, restrictions on amounts which can be sent, and much higher overheads thanks to needing to use an entire company to act as an intermediary.

But now you can send transparently USD-backed money directly peer to peer without any intermediaries or obstacles other than the blockchain, and this feature is very near at hand for all Samsung Galaxy S10 users. How jaded do you have to be to not consider that utterly cool?

Of course a lot of people are disappointed that you can’t send Bitcoin, but ERC20 stablecoins are obviously just much more practical for payments. Plus, actively avoiding explicit links to Bitcoin are probably a better way of getting more people to experiment with cryptocurrency. Throwing Bitcoin up front and centre is just asking for people to dismiss it as “one of those Bitcoin things” without exploring any further.

It’s also worth noting that a lot of time and effort is believed to have gone into the Galaxy’s initial showcase cryptocurrencies. According to various sources, Enjin was involved with Samsung for at least 6 months prior to news breaking. This sentiment was echoed by Cosmee CEO Howon Song who said “we did dozens of meetings [with Samsung] to verify the model and technology”.

The Samsung Galaxy S10 has a built-in hardware wallet, and in line with all basic common sense it has created a web wallet counterpart for separate installation. This web wallet comes with a varied and practical range of cryptocurrencies picked by Samsung, with room for plenty more. It has sensibly chosen to avoid Bitcoin, focusing instead on a more practical range of cryptocurrencies all built around the same token standard.

What’s not to like?



Disclosure: The author holds ETH and XLM at the time of writing.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators’ websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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Coinbase Pro Adds Support for Stellar Lumens

Coinbase Pro, the professional offering of United States-based crypto exchange and wallet service Coinbase, has announced support for Stellar …

Coinbase Pro, the professional offering of United States-based crypto exchange and wallet service Coinbase, has announced support for Stellar Lumens (XLM) in a blog post on March 13.

Per the post, Coinbase Pro will now accept deposits of XLM for around 12 hours before enabling full trading. Coinbase notes that after establishing sufficient supply of XLM, it will open trading pairs in U.S. dollars, euro and Bitcoin (BTC) in phases.

XLM trading will go through three stages before enabling full trading, including limit, market and stop orders. The stages involve “transfer-only,” “post-only,” and “limit-only.” The first two stages will allow users to transfer XLM to Coinbase Pro accounts and post limit orders, while the subsequent one will enable customers to match limit orders.

XLM trading will be initially available for customers in Coinbase’s supported jurisdictions, expect the state of New York. Coinbase may add additional jurisdictions at a later time.

Last month, Coinbase Pro added support for Ripple (XRP), that joined already listed Ethereum Classic (ETC), Basic Attention Token (BAT) and privacy oriented altcoin Zcash (ZEC). In the past, these tokens were added to Coinbase Pro, before support for them was eventually extended to Coinbase.com and its apps for Android and iOS.

The recent addition of XRP to Coinbase was long-awaited by the crypto community. The coin reacted promptly to the news about its listing on Coinbase Pro, turning out to be one of the biggest winners on that day.

However, a report by blockchain research firm Diar stated that XRP breaks one of Coinbase’s requirements to be listed on the platform. In its “Digital Asset Framework,” Coinbase stipulates that “the ownership stake [in a token] retained by the team is a minority stake,” while, according to Diar, Ripple holds around 60 percent of the supply in escrow with a release schedule.

At press time, XLM has gained around 3.94 percent on the day and is trading around $0.108, according to data from CoinMarketCap.

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Ignis Price Changed by 6.41 percent

At the same time Ignis IGNIS/BTC on Bittrex exchange is 0.02. The trading volume on Bittrex is 550802.06. Ignis IGNIS/KRW on Upbit exchange is 0.02 …

As at 2019-03-14 average Ignis price is 0.01883565 USD, 0.00000482 BTC, 0.00014167 ETH.

Ignis average change within 24 hour is 6.41 against USD, 6.4 against BTC, 7.47 against ETH. Weekly report: 20.25 against USD, 19.9 against BTC, 24.63 against ETH. Monthly report: 27.34 against USD, 19.07 against BTC, 16.39 against ETH.

Ignis IGNIS/IDR on Indodax (Bitcoin Indonesia) exchange is 0.02. The trading volume on Indodax (Bitcoin Indonesia) is 139102.83.

At the same time Ignis IGNIS/BTC on Bittrex exchange is 0.02. The trading volume on Bittrex is 550802.06.

Ignis IGNIS/KRW on Upbit exchange is 0.02. The trading volume on Upbit is 8478704.11.

Ignis IGNIS/ETH on TOKOK exchange is 0.02. The trading volume on TOKOK is 19263.35.

In this regard, 24 hour trading volume is 9856056.48364140 USD or 2522.14244006 BTC. At the same time Ignis market capitalization is 14336641 USD or $3668 BTC.

It’s noteworthy that is issued into circulation Ignis.

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Metaverse ETP (ETP) Price Reaches $0.69 on Top Exchanges

Metaverse ETP (ETP) Price Reaches $0.69 on Top Exchanges … Ethereum Classic (ETC) traded 1% lower against the dollar and now trades at $4.28 …

Metaverse ETP logoMetaverse ETP (CURRENCY:ETP) traded up 6.1% against the dollar during the 1 day period ending at 20:00 PM E.T. on March 13th. Metaverse ETP has a total market cap of $41.28 million and $4.87 million worth of Metaverse ETP was traded on exchanges in the last day. One Metaverse ETP coin can currently be bought for approximately $0.69 or 0.00017675 BTC on popular cryptocurrency exchanges including QBTC, RightBTC, HitBTC and CoinBene. In the last week, Metaverse ETP has traded up 3.9% against the dollar.

Here is how similar cryptocurrencies have performed in the last day:

  • Ethereum (ETH) traded 0.9% lower against the dollar and now trades at $133.21 or 0.03412056 BTC.
  • Ethereum Classic (ETC) traded 1% lower against the dollar and now trades at $4.28 or 0.00109532 BTC.
  • USD Coin (USDC) traded up 0.1% against the dollar and now trades at $1.01 or 0.00025947 BTC.
  • Waltonchain (WTC) traded down 0.3% against the dollar and now trades at $1.28 or 0.00032698 BTC.
  • Bitcoiin (B2G) traded down 1.3% against the dollar and now trades at $0.25 or 0.00006506 BTC.
  • Callisto Network (CLO) traded down 7.7% against the dollar and now trades at $0.0041 or 0.00000105 BTC.
  • Musicoin (MUSIC) traded down 0.9% against the dollar and now trades at $0.0007 or 0.00000018 BTC.
  • Bowhead (AHT) traded flat against the dollar and now trades at $0.0244 or 0.00000377 BTC.
  • Akroma (AKA) traded 4.4% higher against the dollar and now trades at $0.0076 or 0.00000193 BTC.
  • Elementrem (ELE) traded flat against the dollar and now trades at $0.0047 or 0.00000120 BTC.

Metaverse ETP Profile

ETP is a coin. It was first traded on February 11th, 2017. Metaverse ETP’s total supply is 75,024,321 coins and its circulating supply is 59,895,466 coins. The official message board for Metaverse ETP is blog.mvs.org. The Reddit community for Metaverse ETP is /r/Metaverse_Blockchain and the currency’s Github account can be viewed here. The official website for Metaverse ETP is mvs.org. Metaverse ETP’s official Twitter account is @mvs_org and its Facebook page is accessible here.

Buying and Selling Metaverse ETP

Metaverse ETP can be purchased on these cryptocurrency exchanges: Bitfinex, Bit-Z, QBTC, RightBTC, HitBTC, Coinsuper, TOPBTC and CoinBene. It is usually not possible to purchase alternative cryptocurrencies such as Metaverse ETP directly using U.S. dollars. Investors seeking to trade Metaverse ETP should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as GDAX, Changelly or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Metaverse ETP using one of the aforementioned exchanges.

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