Countries have been implementing stringent measures to curb the spread of the highly infectious virus for the past three months, forcing people to stay home.
During the first week of March this year, over a dozen Ethereum blockchain and ETH enthusiasts who participated in the Pari’s EthCC conference have since tested positive for COVID-19, the coronavirus responsible for the global pandemic, according to public lists compiled by attendees. In addition to that, a series of measures from schools and other public facilities closings, as well as state border shutdowns, have essentially forced many people to resign the fate of months of quarantine and start to think of ways to fully utilise their newfound time at home during the tumultuous event which has not been seen since the World War II. Fortunately, the bitcoin mixing folks - MyCryptoMixer have thought of various ways which could kill your boredom at home with some enriching activities that will keep you in touch with the crypto space.
Organize your cryptocurrency transactions
In a fast-moving world today, everyone is occupied with work, studies and other mandatory daily activities. This type of lifestyle has prevented many from performing necessary financial discipline. Most investors of Bitcoin (BTC) and other cryptocurrencies would have purchased their holdings for the mid to long term. With many people across the globe scrambling to think of activities to “kill time”, we could instead think of stay-home activities to not only maximise our spare time, but also to upgrade ourselves with activities that could enrich our lives in the long haul. According to an article by ISC financial advisors, there are various reasons to start planning for our finances early, especially if we do hold Bitcoin or other cryptocurrencies for investment reasons. Since the global coronavirus pandemic (also known as COVID-19 or simply Wuhan Coronavirus pandemic) started ravaging our daily routines and global markets, Bitcoin and other cryptos are becoming much more susceptible to the volatility and uncertainty to the wider market and other world’s crises such as US-China trade war and Oil Price war.
Learning how the prices of Bitcoin and other cryptos are affected by these events could be crucial for crypto investors and advanced traders who always strive to gain the most profit with the least risk exposure. While it can be argued that many crypto enthusiasts simply purchase for the long term, managing your Bitcoin or crypto portfolio for rational investment decisions never hurts. Most importantly, when performed correctly, one could even grow their long term holdings by making a consistent profit by leveraging based on the market condition. These legally enforced stay-home quarantines could be a blessing in disguise since we are limited by the restriction by staying home, and are given more opportunities to learn about the Bitcoin and crypto markets.
So far, cryptocurrency prices were affected by the large ‘whales’ transactions backing out due to uncertainties created by the unexpected coronavirus pandemic this year. Whales is an investing term associated with market manipulators such as institutional investors and regular traders with significant holdings of the particular cryptocurrency (e.g. Bitcoin), where their actions could cause a ripple in the crypto price. This is one of the reasons that is attributed to the industry’s vulnerability and therefore you should spend some time to understand and review market behavior.
In addition to that, we could explore some of the best cryptocurrency portfolio trackers (such as Delta or Blockfolio) around that could aid us in monitoring the crypto prices, and even set notification alerts on your cell phone should there be a significant price change to any of Bitcoin or crypto holdings, giving you the opportunity to monitor and make the right decisions on a daily basis.
Identifying accurate crypto information sources
In recent years, there were numerous cryptocurrency exchanges that were hacked for millions of dollars, with the act being performed by professional hackers, or sometimes an insider’s job. Governments and other regulators were also keen on getting their hands on the cryptocurrency market and either banned or impose legal compliances which may intrude the privacy (ie. personal information and transaction activities) of investors. A growing number of blockchain analysis firms have since emerged to assist the regulatory process. Such aforementioned news are just a few examples of many information that could be obtained first-hand from reputable blockchain and cryptocurrency media or experts. Thus, it is imperative for Bitcoin and crypto investors to keep themselves up-to-date with trusted news sources. This will allow you to stay objective and level-headed while making regular financial decisions relating to your crypto investment. Currently, there are dozens of crypto media outlets which are useful for the crypto community. For instance, there are prominent crypto media outlets such as Coindesk and Cointelegraph, where they update the community with regular news updates on the industry. Sometimes, the community may also find it useful to explore emerging crypto media such as NewsBTC, Hegion or TheDailyHODL, where you can get to discover more in-depth news updates on various topics not covered by the prominent media outlets. Also, a thorough analysis on the history of the Bitcoin and crypto market could also give rise to your awareness of how the market corrects itself and returns to basic valuations, based on normal business fundamentals.
Learn the benefits of Crypto Privacy Tools
Yes, the state of our world is no cause for rejoicing, but everyone needs to be aware of ways to protect their personal information and financial records like Bitcoin transactions. In a digitally-connected world today, the importance of privacy and anonymity is even more important as we divulge our entire history and activities online on a regular basis. Thus, during the quarantine period, you may check out available options to conceal your personal information while getting involved in Bitcoin and other cryptocurrencies. After all, these new asset classes were created to address the very need to shift the control of power from governments and centralised organisations back to the people. Fortunately, there are privacy tools available to ensure your anonymity and privacy are kept away from government’s surveillance and bad actors.
It is a known fact that the transaction of Bitcoin and other prominent cryptocurrencies (such as Ether and Litecoin) are designed to be anonymous. Ensuring that your Bitcoin address does not reveal your entire financial trail to the public (via blockchain explorers) is of paramount importance to your privacy and even safety. Combining the use of Virtual Private Networks (VPNs) and TOR browsers could obfuscate your IP location, which could be used to trace to your Bitcoin and crypto transactions. If you are particular about not revealing your Bitcoin transactions to anyone else, using a Bitcoin mixer could allow you to have complete anonymity while transacting in Bitcoins.
What is a Bitcoin mixer?
In short, a Bitcoin mixer is a coin mixing software which erases your Bitcoin transaction trace by mixing your Bitcoins with a pool of Bitcoins of other users. For example, you may be completing your trade of the day and wish to transfer your Bitcoin balance from your exchange’s wallet to your personal Bitcoin wallet. However, since all Bitcoin transactions are transparent and immutable, anyone with your exchange’s or personal wallet address will be able to see exactly what you have done to your Bitcoins for the day. The Bitcoin mixing service allows your Bitcoins transactions to be mixed into the randomised pool. As a result, anyone that tries to peek into your exchange’s wallet or personal wallet will not see your Bitcoin transactions linked to either wallets. Furthermore, trusted Bitcoin mixers like MyCryptoMixer provide you with a guarantee that your usage of the mixer will be deleted off their database as soon as possible, within 24 hours. A reliable mixing service will also generate a letter of guarantee to ensure that your Bitcoins are safe in the entire mixing process.
Optimise your Crypto experience
At this point, no one knows exactly when or how lockdowns and quarantines will last. But there is one thing that we could be certain, that is we are now given way more opportunities to learn more about cryptocurrencies, blockchain analysis as well as how we can enrich our experience with Bitcoin and other cryptocurrencies. What is regarded as a necessary quarantine could become a perfect opportunity to slow down and take an in-depth look into the cryptocurrency market. Moreover, being involved in the above-mentioned activities could help you stay on top of the crypto space on a regular basis. Hopefully, we could emerge not only stronger as a human being, but also a savvy crypto investor who is able to invest smartly with relevant crypto news and privacy tools such as a Bitcoin mixer or VPNs in our endeavor towards financial independence!