A Report On Bitcoin-Related Stocks Aiming To Capitalize On The Cryptocurrency Craze
The craze is on as cryptocurrency is growing up and hackers are set behind it for money heists. What can we do about it? Here are the solutions.
All About Cryptocurrency
Cryptocurrency focused investment possibilities are emerging as the price of Bitcoin surges to more than $ 7,000 with wild price fluctuation s has also scared away some prospective investors, as some bitcoin and other cryptocurrency investors made a great deal of money. Thereby to balance the desire to get involved against the riskiness of actually purchasing tokens or coins, what should one do? Buying stock in companies related to the cryptocurrency trend is one suggestion as they might be capitalizing on some aspect of the boom but which ideally offers a bit of a buffer in case the entire market collapses.
1. Nvidia Corporation (NVDA)
Largely thanks to interest from cryptocurrency enthusiasts Nvidia is a corporation that has seen its stock price nearly double because it makes high-performance graphic s processors where computer hardware pieces that were originally designed for the use in complicated video game rigs as also they have been co-opted by the mining operations generating bitcoin and other digital currencies.
What then is the result? Taken off around the world, as bitcoin mining outfits are, Nvidia’s revenue has climbed 40% as the graphics card has sold out around the world because demand among miners is high.
2. Advanced Micro Devices (AMD)
Launched in 1969, AMD makes it as ancient compared with other tech companies as also it has quickly earned a spot in the cryptocurrency hall of fame due to their graphics processors. While AMD was used by Alibaba Group Holdings Ltd, for its cloud operations, it is set on a path to success as the mining trend of cryptocurrency has helped fuel this growth.
3. Bitcoin Investment Trust (GBTC)
Aiming to bring digital currency investment to small scale investors, Bitcoin Investment Trust is notable for being the first publicly traded bitcoin fund. Launched in 2013 as a private investment fund, the value is nearly double the value of the bitcoin it holds thereafter allowing users to buy GBTC in what is said to be a tax-advantaged account associated coins with the trust are held independently and securely.
4. Microsoft Corporation (MSFT)
While it is found that Microsoft has not entered the digital currency field directly the blockchain technology still supports digital currencies which have made a major impact on some of the largest tech companies including MSFT. Since its early days, Microsoft has bolstered open source and blockchain technology.
How was $9 Million Lost Each Day In Cryptocurrency Scams
The reality is they are constant targets for scams including digital theft, phishing, fraud, and hacking, as you may be thereby tempted to think that these open-source decentralized anonymous cryptocurrencies are safe considering they are free of control from a single authority working transparently and the recent finding was that $ 1.36 billion worth of cryptocurrencies according to Bitcoin.com News has been stolen by fraudsters during the first two months of 2018.
In late January, the biggest recent heist occurred at the cryptocurrency exchange Coincheck Inc. as the hackers made off with around $ 500 million in virtual tokens. Bitconnect around the same time was a cryptocurrency lending scheme thereby shut down its operations and vanished leading to an exit scam with an estimated loss of about $ 250 million. Whereas an Italian crypto exchange called BitGrail had reported that it was hit with a hacking attempt thereby losing nearly $ 195 million worth of customers' virtual tokens.
Why Does Decentralized, Anonymous Ecosystem Appeal To Thieves?
Not all small-sized scams may come to the fore due to the anonymous nature of the cryptocurrency market as with the ever-evolving nature of the various cryptocurrencies as their related processes like initial coin offerings it comes to be difficult to accurately measure the scope of each scam. For example, AriseBank ICO was thereby halted by the SEC for alleged forgery as the attempt is to raise funds from retail investors in the name of investing in the so-called world’s first decentralized bank as it originally aimed to raise $ 1 billion turned out to be a $ 600 million scam.
Even though considered outliers the top three scams along with the remaining smaller ones total around a combined $ 542 million as counting the 59 days of the first two months of 2018 as the average per day loss attributes to such small ticket scams stands at around $ 9.2 million per day. The trend thereby continues that the total amount lost to such schemes adding up to around $ 3.25 billion as it would surpass the annual GDP of many small-sized nations.
The virtual currency world is getting far more complicated while the increasing number of new cryptocurrencies being launched each day and the evolution of those associated services similar to trading, exchanges, and transfer services with the anonymous and decentralized nature may be a boom to many often exploited by hucksters at the expense of the common user.
A balanced approach involving suitable regulations and security framework could help contain the epidemic, while it may remain difficult to halt scams altogether.