Crypto Breakdown

Episode Summary:

Today on the Crypto Breakdown I look at

Today I rank the top crypto exchanges and wallets according to ease of use and security.

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

Crypto Heat Map

Subscribe to our Benzinga Crypto Youtube Channel

Subscribe to Moon or Bust Podcast

Past Episodes of Daily Crypto

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Unedited Transcript:

Support this podcast at — https://redcircle.com/crypto-daily/donations

Advertising Inquiries: https://redcircle.com/brands

Privacy & Opt-Out: https://redcircle.com/privacy

Episode Summary:

Today on the Crypto Breakdown I look at

Centralized Exchanges, Decentralized Exchanges, and software ad nd hardware wallets.

I explain what they are, how they are different, and finally which one you should use for your coins.

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

Crypto Heat Map

Subscribe to our Benzinga Crypto Youtube Channel

Subscribe to Moon or Bust Podcast

Past Episodes of Daily Crypto

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Unedited Transcript:

Hey everybody happy Thursday. My name is Joe Dewitt, and this is the crypto breakdown today. I'm going to discuss a bit about cryptocurrency exchanges and crypto wallets and some of the differences between the two. So first off, let's talk about crypto exchanges. Now, when thinking about cryptocurrency exchanges, there are two different kinds of think about decentralized exchanges and centralized.

So the decentralized exchange would be something like unit swap or pancake swab, where users can go on and swap their tokens for other tokens. And the decentralized aspect means that there's no central authority actually controlling the application. It is run by the community and it is run by a team, but that team doesn't necessarily take profits.

Now of centralized exchange. On the other hand would be a company that is actually running an exchange like Coinbase or FTX. Now this is. Essentially, I'm a company that owns an exchange and users are able to go on and purchase assets with their credit card or debit card. Although now you have the central aspect where the company is actually going to make profits on you selling and purchasing the crypto where a decentralized exchange is purely just based on swapping tokens.

And there's actually no profit to be made. Now on a centralized exchange like Coinbase, you were also able to hold your tokens. Now, this is different than an actual wallet because holding your tokens on a centralized exchange does not actually mean that they're yours. Um, you purchase them. Sure. They are technically your assets and you have paid your us dollars for them, but they're not yours until you spend them.

They're still in the Coinbase ecosystem. Coinbase still has full control over them till you withdraw them. And two and a hardware or software wallet, tokens. Aren't physically yours. It's the same as a bank. That money in your bank account is being used by the bank until you decide to spend it now, Coinbase and other centralized exchanges are going to use your assets and leverage them while you let it sit there until you essentially withdrawal your assets.

So now this is where a wallet comes in. Now, there are many different types of wallets. There are software and hardware. Whereas software wallet would be an application on your computer or your mobile phone, and a hardware wallet would be something like a ledger, which essentially keeps all your seed phrases on a hard drive, which essentially just makes it, keeps it off of all of your software.

These wallets provide seed phrases, which are a string of 12 words that you. Um, put together in order to recover your account. Now, most wallets are unrecoverable unless you have the seed phrase. So that is the most important aspect to owning a wallet is actually keeping track of your seed phrase. I would never recommend to put it anywhere on your phone or on your computer, because that is a very compromisable place.

I always recommend writing it down and putting it in the safe or somewhere safe. Now these wallets don't provide any fee for actually owning one, unless you decided to get a hardware wallet, which. Um, require you to actually purchase one, but software wallets, they're all free. So anyone is able to go on and sign up for a software wallet and start holding their crypto.

So a centralized exchange is somewhere you go, if you want to purchase crypto with your debit or credit card, a decentralized exchange is somewhere you want to go. If you want to swap your tokens for another token of value and your wallet is where you store all your crypto. Um, to make sure that they are safe and actually, um, in your possession and that's all the time we have for today.

Guys. I hope I answered some of your questions on crypto exchanges and wallets. Feel free to like, and subscribe to the podcast, which will all be in the description below. Have a great day.

Support this podcast at — https://redcircle.com/crypto-daily/donations

Advertising Inquiries: https://redcircle.com/brands

Privacy & Opt-Out: https://redcircle.com/privacy

Episode Summary:

Today I talk about different options of mining your own crypto and the most profitable method out of them. I also recommend pools to use to mine ETH and Bitcoin.

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

Crypto Heat Map

Subscribe to our Benzinga Crypto Youtube Channel

Subscribe to Moon or Bust Podcast

Past Episodes of Daily Crypto

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Support this podcast at — https://redcircle.com/crypto-daily/donations

Advertising Inquiries: https://redcircle.com/brands

Privacy & Opt-Out: https://redcircle.com/privacy

Episode Summary:

Today I talk about two of the biggest Play to Earn DEFI Games and their coins STAR ATLAS and Axie Infinity.

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

Crypto Heat Map

Subscribe to our Benzinga Crypto Youtube Channel

Subscribe to Moon or Bust Podcast

Past Episodes of Daily Crypto

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Support this podcast at — https://redcircle.com/crypto-daily/donations

Advertising Inquiries: https://redcircle.com/brands

Privacy & Opt-Out: https://redcircle.com/privacy

Episode Summary:

Today I talk about historical sell- off's in Bitcoin and what they teach about where Bitcoin may be headed next. I also talk about how to mitigate your crypto losses and some tips on using crypto losses as tax write-offs.

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

Crypto Heat Map

Subscribe to our Benzinga Crypto Youtube Channel

Subscribe to Moon or Bust Podcast

Past Episodes of Daily Crypto

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Hey, everybody happy Monday. Hope you had a nice weekend. My name is Joe Dewitt, and this is the crypto breakdown considering, and has not been the greatest week for crypto. We're going to talk a bit about how to manage your crypto losses and some historical selloffs. Over at previous crypto cycles. We will take a look at Bitcoin because it is clearly the market indicator.

So in 2013 price surge up to about $1,000, which quickly fell off into a consolidation period in February. And that consolidation was about years up into March of 2017, where we started entering the bullish rally, which got us up to an all time high. I have about 19,500 and that price quickly fell off into a consolidation period, which would be on the consolidation of the 20 18, 20, 19 and 2020, then right after the COVID crash in March of 2020 Bitcoin started to surge after the following months, which reached an all-time high of 64,000.

Now, after this all-time high of 64,000 Bitcoin fell off, and then it actually climbed again and. To another all-time high of 69,000. And now we're at the point where we have fallen into a consolidation period. And if history does repeat itself, it may look like this could be a year long consolidation, period.

If not years, the next following weeks are going to be crucial for Bitcoin. As it's going to determine the future of its cycle. It is not for certain that we are in a bear market yet, but historically, after all time highs are reached, there is that. Went into a consolidation phase and Bitcoin has just reached an all time high and it started to fall off.

So historically we would think that this could be a consolidation period. Although if Bitcoin does fall below its 29,000 level of support, then I do think it will be safe to say now we are entering a. Fair market. So the first part about managing your crypto losses, I would like to talk about would be to set clear goals.

Now, what I mean by setting clear goals is to essentially come up with a trading plan before you start your position. So whether you're going to be doing a Swain trade, whether you're going to be holding for the long-term as well as assessing your risk tolerance. So I like to say never invest more than you can afford to lose.

So this is something you will have to set for yourself on how much you are comfortable losing. Because at the end of the day, we are investing in very volatile assets. And we do not know when price can fall as drastically as it did. So having a clear goal and trading strategy is very. And just to make sure to follow it is also just as important.

Another aspect of managing your crypto losses. I would like to talk about would be how you can actually use your crypto losses as a tax write-off. So you can offset your capital gains with the losses from crypto. Another aspect I want to talk about with managing your crypto losses is how you can actually use your crypto loss as a tackle.

So you can offset your capital gains as well as $3,000 of personal income with your crypto. Losses does help if you are in a sticky situation or if you have made a bit of income and you're looking to offset that with some of these losses that is huge to make that crypto hit not as bad as it could have been.

And finally, the last little piece I want to talk about managing your losses would be don't fall prey, a phone. Which is fear of missing out. This is one of the bigger phenomenons and the space, and it is just the idea of groups of people having the fear of missing a project. So they essentially go all in minimal research, hoping that this is going to be the next 10 X coin.

It's just a really sticky situation. And I would recommend absolutely do not do that. If you were. Feeling that you may have missed out on something and that you ended that it may be too late for you to invest, take it with a grain of salt, step back, do some research, and actually think about why you are feeling that way.

And after your research has concluded, if it truly is too late for you to enter that project, then just keep an eye out for the next one. Never ever force a position. When you force positions is one, you are more bound to lose. And one last tip would be to  diversify. I always say this.

Always make sure to diversify your positions. If you want to invest $5,000 into crypto, do not invest $5,000 into Bitcoin. Invest a thousand. Then you can invest a thousand and to another. 502, another 502 another and so on and so forth. Five diversifying you're mitigating the losses that you would be receiving on a certain coin.

So it is pretty self-explanatory, although it is such a huge aspect of trading that many people overlook that really helps offset some of your losses. So definitely keep that in mind and that's all the time we have for today. Guys. Thank you so much for tuning in. You can follow, subscribe to our podcast, which will all be in the description.

Have a great day

Support this podcast at — https://redcircle.com/crypto-daily/donations

Advertising Inquiries: https://redcircle.com/brands

Privacy & Opt-Out: https://redcircle.com/privacy

Episode Summary:

Today I talk about Twitter's New NFT verification update - what this means for the future of NFTs.

Is It Too Late To Buy NFTs?

With Twitter's verification, I explain why NFT investments are just starting and how you should go about investing in NFTs.

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

Crypto Heat Map

Subscribe to our Benzinga Crypto Youtube Channel

Subscribe to Moon or Bust Podcast

Past Episodes of Daily Crypto

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Hey everybody happy Friday. My name is Joe Dewitt, and this is the crypto breakdown today. I'm going to discuss if it's too late to purchase your first NFT. Now yesterday, Twitter released the beta for their profile picture and FTA verification. As of now, this is only available for Twitter blue users, although it should be available to all Twitter users and the following.

Now what this does is attach the ether scan link, which is the blockchain essentially search. And it allows users to check the authenticity of each NFT. Now, this is super cool that this has been added so soon and the development of web three, and this is really important because it changes the culture behind.

Screenshotting and right click and save NFTs. There is a huge following of people in the space that believed that NFTs are essentially valueless and that they could just be stolen with a simple right click and save or a screenshot. And this is obviously not the case as they're all backed by tokens on the blockchain.

 With this new Twitter update, people are now able to check the blockchain and see which collection their pieces are a part of. And this will help determine if it is a real piece or not now with these new additions of NFTE profile pictures and all the recent talk of NFTs. I'm sure people are wondering, is it too late to purchase their first NFT?

And what I would say to that is absolutely not. There are many collections out there now you may not be able to afford the top blue-chip NFT projects, which are. Pushing 30, 40, 50 Ethereum. As these are very exclusive projects, I'm talking a board ape yacht club and crypto punks, maybe doodles.

Although besides these projects, there are many alternatives that are great for new investors. One thing to consider too is how new the NFT industry is. These have only been around for a couple of years and only really been popular for the last year. Now, imagine a few years down the road. All these projects that are made now or not even created yet what the potential they could have.

And it's also very important to consider that NFTs will have more utility down the road. It won't always be as simple as a JPEG file being attached to a actual token on the block. It could be used for any point of sale payments, any sort of inventory, most things in the real world that need a ledger could be built on a blockchain, making it more secure and transparent for other people out there.

Now for the immediate time being the NFT market is pretty saturated here on. We are seeing a flood of new. Every single day, whether it's a theory, I'm Solano or the avalanche network. So it is very hard to determine which NFT project is the best. And what I would recommend is honestly purchasing a project that you will find the most value in personally, it is very tricky to look at a project and go for a straight.

What I would recommend is find something that has good volume and something that you truly appreciate, and that you really like, because later down the road, you are hoping that someone is going to like it as much as you do. And at the end of the day, you would rather have a piece of art that you truly enjoy than just a piece of art you bought to sell.

And that's all the time we have for today. Guys. Thank you so much for today. You could follow it, subscribe to our podcast, which will all be in the description below. Have a great weekend 

Support this podcast at — https://redcircle.com/crypto-daily/donations

Advertising Inquiries: https://redcircle.com/brands

Privacy & Opt-Out: https://redcircle.com/privacy

Episode Summary:

Cardano vs Ethereum. Today I talk about the long-term investment opportunities in Cardano and Ethereum.

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

Crypto Heat Map

Subscribe to our Benzinga Crypto Youtube Channel

Subscribe to Moon or Bust Podcast

Past Episodes of Daily Crypto

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Support this podcast at — https://redcircle.com/crypto-daily/donations

Advertising Inquiries: https://redcircle.com/brands

Privacy & Opt-Out: https://redcircle.com/privacy

Episode Summary:

Opera Unveils Beta Version Of Web 3.0-Focused 'Crypto Browser. Here is what it means.

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

Crypto Heat Map

Subscribe to our Benzinga Crypto Youtube Channel

Subscribe to Moon or Bust Podcast

Past Episodes of Daily Crypto

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Support this podcast at — https://redcircle.com/crypto-daily/donations

Advertising Inquiries: https://redcircle.com/brands

Privacy & Opt-Out: https://redcircle.com/privacy

Episode Summary:

On Today's episode of Crypto Breakdown, I share some tips on how to earn passive income with Crypto.

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

Crypto Heat Map

Subscribe to our Benzinga Crypto Youtube Channel

Subscribe to Moon or Bust Podcast

Past Episodes of Daily Crypto

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Hey, everybody happy Tuesday. Hope you had a wonderful week. My name is Joe Dewitt, and this is the crypto breakdown. Today. I'm going to discuss a bit on how to earn some passive income and the crypto world. So the first method to earning some income that is probably the most popular would be staking.

Now, if you're unfamiliar with consensus mechanisms, the two most popular are proof of work and proof of stake, proof of work, validates blockchain transactions. By using computing power. On the other hand, proof of stake are validators that have staked, some cryptocurrency and out of that pool are chosen to validate transactions and they are rewarded with a bit of crypto.

So this makes a great alternative for those looking to diversify their investments and make a little bit of passive income. Some example of these staking mechanisms would be car Dano, polka dot. And Ethereum 2.0, when they finish unveiling, all of that, they have not yet introduced those staking mechanism, but they have teas that later this year it will be released.

Another method would be a dividend earning tokens, which are very similar to stock dividends, where you receive a percentage of the tokens value in a dividend earning every so often throughout the year, changing it, depending on the coin, each coin has their own token Nomics and dividend earnings. If they have some example of this would be Q coin where holders receive a daily share.

Uh, fees. Um, although they may be small, it is still earning passive income. Another option for earning passive income would be yield farming. Now yield farming means providing liquidity for a decentralized exchange. So something like unit swap or pancake swap, and essentially you put up a pair. So if you wanted to provide liquidity for Ethereum and USD tea, so the desired amount you wanted to put up, you would put half an Ethereum and half in USDA, and you are providing liquidity for.

For that Dex pool and end reward, you will earn income based on the amount of transactions. So somewhat similar to staking, although instead of for verifying transaction, it is used to actually, um, transfer liquidity from different tokens. So the final way to earn passive income, I want to discuss would be how some NFT projects actually offer airdrop token.

To holders of projects. So for example, hash mask, a very popular NFT project, um, by being a holder, you receive a 10 NCT a day, which means just by holding that piece of art, you are actually accumulating a token daily, which later down the road could turn to a very considerable passive thing. Now, there are many other NFP projects out there that do very similar token Nomics and provide a token for holders.

Although this is just the example that came to my mind and it is really cool to see, um, how we are just starting to scratch the surface with these sources of passive income and airdrop tokens. As later down the road, when these have more utility, people are looking for more alternative ways to earn passive income.

I think that these will, um, be very, very popular later. Keep in mind, all of these aspects together provide really strong opportunities for earning passive income, but on their own, they usually yield small percentage. Although on their own, they usually yield small percentages as if they did yield very high percentages.

Um, everyone would do it and the rewards would not be as high that's all the time we have for today. Guys. I hope I answered some of your questions on how to earn some passive income and crypto have a great day.

Support this podcast at — https://redcircle.com/crypto-daily/donations

Advertising Inquiries: https://redcircle.com/brands

Privacy & Opt-Out: https://redcircle.com/privacy

Episode Summary:

On Today's episode of Crypto Breakdown, I share my top 3 tips to use when trading on a budget. It doesn't matter what your budget is $100, $500 or $1000, these tips will save you a lot of profit.

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

Crypto Heat Map

Subscribe to our Benzinga Crypto Youtube Channel

Subscribe to Moon or Bust Podcast

Past Episodes of Daily Crypto

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Support this podcast at — https://redcircle.com/crypto-daily/donations

Advertising Inquiries: https://redcircle.com/brands

Privacy & Opt-Out: https://redcircle.com/privacy