Where Does The Smart Money Go?

By Finance, 3EA
Where Does The Smart Money Go?

Where Does The Smart Money Go?

Smart money investments are usually referred to as "gambling". Smart money at current scenario is a force to reckon with. It is a financial force so strong that can move markets, it can change the way we think, and it can change the entire course of development for countries.

The emanation of smart money is due to the hardcore investment accretion. Smart money provides you many ways to attain opulence.

Bitcoins or Crypto-currency to be precise is the current inclination in the sphere of smart money. Total market cap of crypto-currency boasts over around $600-$700 billion in 2018. Many geniuses have already attained their lifetime fortunes at a very tender age. Smart investment compassed their life to the riches of the cosmos.

The wealthiest crypto billionaire currently is Chris Larsen(57 years), co-founder and former CEO of Ripple, who has a personal fortune worth as much as approx. $8 billion.

Other examples include Changpeng Zhao(41 years), CEO Binance, a crypto-currency exchange who has a personal fortune worth at around $2 billion. Brian Armstrong(35 years), CEO Coinbase, has a personal fortune worth as much as $1 billion. Vitalik Buterin(24 years) , creator of Ethereum, a crypto-currency, has a net worth of $400-$500 millions.

There are many others who attained opulence at a very young age. Started alone but now they have their own work force.

According to Forbes list of "the richest people in crypto-currency" the average age of a crypto-millionaire is 42 years while the average age of regular wealthiest American is 67 years. All these stats allure investors from all sphere.

How does crypto-currency makes you affluent:
Bitcoins or any other crypto-currency work on the intrinsic principle of barter system i.e. you buy any crypto-currency (any coin) or any ICOs with your country's legal currency. Then either you trade that coin or ICO instantly, if you see some profit or you wait till the time that asset matures enough to give you a good fortune.

One smart move and you have all the riches of the world but one doltish call can steer you to the grand canyons of misery. One has to be aware enough and must acquire all the related knowledge and must have researched hard enough so that he may be able to see any frailty in the market and can react instantly to save his hard earned fortune.

The graph shows the maximum and minimum values of Bitcoin for last 6 months:

Rise in Bitcoin:
Bitcoins started as low as $0.008 a coin in July 2010 and reached a height of $19783.21 a coin in December 2017. As of now February 20, 2018 it is stable at $11,638.50.

Countries where Bitcoin is fairly welcomed:
If we see the track record of crypto-currency we can easily establish a fact that United States produces maximum or we can say most of the crypto millionaire or billionaire. This is because crypto-currency is legal in USA. The US government agencies keep on working to curb any illegal use of Bitcoin transactions. Also the regulations state that Bitcoin is an asset eligible for taxation. In Canada, Bitcoin transactions are viewed as barter transactions and the income generated is considered as business income. Australia allows entities to trade, mine, or buy Bitcoin. Here also it is considered as barter transactions. Bitcoin is treated as a commodity in Finland and not as a currency. In United Kingdom and Germany Bitcoins are taxable assets.

Going a step forward, Japan, the motherland of crypto-currency, has even declared Bitcoin a legal currency. Japan contributes to almost half of the total Bitcoin transactions of the world.

Countries where Bitcoin is illicit:
Big powerful nations like Russia and India forbid the use of any type of crypto-currency. Though it is yet not completely banned but it is considered to be an illegal tender. On the other hand China wants to quash the crypto market completely. It is blocking all the websites related to crypto-currency trading and ICOs.

Is crypto-currency really the future of smart money?
All that glitters is not gold, though smart money moves or crypto-currencies can steer you to your inevitable fortunes it can also eliminate your every possible chance of getting rich.

Mt. Gox, an early crypto-currency exchange, in Feb 2014, reportedly lost 850,000 Bitcoins (valued $450 million that time and approx. $9-$10 billion currently). NiceHash, a mining platform, in Dec 2017, was hacked. Hackers got away with $60 million worth of Bitcoins. Coincheck , another crypto-currency exchange, in Jan 2018, was hacked and $534 million(at the time of theft) worth of Bitcoins were stolen.

These thefts and hacks somewhere breed anxiety in investors whether to gamble or not. Also many countries have not given the required freedom nor do they have any legal rules or regulations to oversee crypto transactions.

India, where Bitcoins are not considered to be a legal tender, has almost 600,000+ active users, most of them in 25-35 age group. Around $3.5 billion worth of transactions have been carried out over a 17 month period. These stats clearly hint the inclination of youth towards smart money and its investments. Though there are no specific regulations regarding the trading of crypto-currencies in India, still the Government of India has issued a legal income tax notice to more than 100,000 users.

Every cloud has a silver lining, risks are always involved when you do something big. You must not get blanched rather you may study and research about the market of your choice.

Research and analyze the trends thoroughly before going mainstream. Take your time, update yourself regarding every little philosophy that may affect your market. Enlighten yourself regarding every legal aspect regarding crypto-currency transactions. "Take calculated risks", do not play blind, gamble with your eyes wide open. If you and your invested money is smart enough you may end up sealing fortunes of your lifetime or maybe all the riches and joys that you dreamed of.

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Article by: Finance, 3EA
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