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Welcome to the seventeenth edition of the Crypto Chronicle, brought to you by <a href="https://imperialwealth.com/consultation/crypto/coinstash" rel="noopener noreferrer" target="_blank">Imperial Wealth</a>.You can listen to todays episode <a href="https://open.spotify.com/episode/2HXUVCfAuCBUpnCr2ma2hQ?si=kzoRdTPrS3e0mnbRhMqX-w" rel="noopener noreferrer" target="_blank">here</a>.<h2>News</h2><h3>ATO Set to Enforce Capital Gains Tax on Wrapped Cryptocurrency Tokens</h3>The Australian Taxation Office (ATO) mandates capital gains tax (CGT) on wrapping and unwrapping crypto tokens regardless of their market value.&nbsp;<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/17123022/ato-logo.jpg" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/17123022/ato-logo.jpg"></a>ATO also scrutinises liquidity pool activities for CGT.&nbsp;Australia’s Board of Taxation reviews digital asset taxation, including CGT on cryptocurrencies, planning to submit findings to the government by February 29, 2024.Read more here:&nbsp;<a href="https://imperialwealth.com/news/ato-set-to-enforce-capital-gains-tax-on-wrapped-cryptocurrency-tokens" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/ato-set-to-enforce-capital-gains-tax-on-wrapped-cryptocurrency-tokens</a><h3>BlackRock Submits S-1 Form to SEC for Ether ETF</h3>BlackRock, the largest asset manager, applied for an Ether ETF with the SEC, seeking to mirror Ether’s performance.&nbsp;<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/17134629/1_l5rU4eCVazNrB-_dUjuA_A.jpg" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/17134629/1_l5rU4eCVazNrB-_dUjuA_A.jpg"></a>This move followed the establishment of the iShares Ethereum Trust and mirrored selections made for Bitcoin ETFs.&nbsp;BlackRock chose Coinbase Custody Trust and a benchmark akin to Bitcoin. This follows their earlier push for a Bitcoin ETF, marking growing institutional interest.&nbsp;Applying for an ETF involves SEC approvals, seen in the race that began with Grayscale Investment’s bid for an Ethereum trust ETF.&nbsp;Meanwhile, ETH has surged 28% in the past month.Read more here:&nbsp;<a href="https://imperialwealth.com/news/blackrock-submits-s-1-form-to-sec-for-ether-etf" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/blackrock-submits-s-1-form-to-sec-for-ether-etf</a>&nbsp;<h3>Fidelity Enters the Competition with BlackRock for an Ethereum ETF</h3>Fidelity Investments seeks approval for an Ethereum-based ETF, disclosed in a filing after BlackRock’s similar submission.&nbsp;<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/20101929/Fidelity-Files-Spot-Ether-ETF-Application-Amidst-Speculation.jpg" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/20101929/Fidelity-Files-Spot-Ether-ETF-Application-Amidst-Speculation.jpg"></a>The fund, aiming to mirror Ethereum’s value, awaits SEC approval for trading on Cboe’s exchange.&nbsp;It highlights the absence of regulated exposure to ETH for U.S. retail investors, contrasting European access to diversified spot crypto products.&nbsp;This mirrors the challenge faced by prior Bitcoin ETF attempts, requiring SEC compliance with spot market surveillance. Advocates push for a safer investment route.&nbsp;The SEC delays decisions on Bitcoin ETFs, while Fidelity, managing over $11 trillion, expands its crypto services since 2018, amid increasing competition in the ETF space.Read more here:&nbsp;<a href="https://imperialwealth.com/news/fidelity-enters-the-competition-with-blackrock-for-an-ethereum-etf" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/fidelity-enters-the-competition-with-blackrock-for-an-ethereum-etf</a>&nbsp;<h3>Bitcoin Fees Surge as Excitement Builds Around Spot BTC ETF</h3>The imminent approval of a US-based spot Bitcoin ETF has amplified demand, spiking transaction fees to $11.6 million on November 16.&nbsp;<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/20143155/1bbf0ec9-e06b-43d5-b95f-7fce6bf39275.webp" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/20143155/1bbf0ec9-e06b-43d5-b95f-7fce6bf39275.webp"></a>Fees surged by 113% from the previous day and 746% from a year prior, hitting $18.69.&nbsp;Bitcoin’s climb to $37,130, breaking a bear market range, followed major asset managers’ ETF submissions like BlackRock, Fidelity, and ARK.&nbsp;A potential ETF is expected to attract institutional investment, potentially driving Bitcoin to new heights.Additionally, renewed interest in Ordinal Inscriptions, akin to BTC-based NFTs, emerged as Bitcoin wallets expanded.&nbsp;Despite fee concerns, rising adoption and fees bolster Bitcoin’s security, crucial as the 2024 halving event approaches, slashing miner rewards.Read more here:&nbsp;<a href="https://imperialwealth.com/news/bitcoin-fees-surge-as-excitement-builds-around-spot-btc-etf" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/bitcoin-fees-surge-as-excitement-builds-around-spot-btc-etf</a>&nbsp;<h3>Victory for Argentina’s Bitcoin-Friendly Candidate, Javier Milei, in Presidential Election</h3>In Argentina’s recent presidential runoff, Javier Milei won with over 55% of the vote, a nearly 3 million lead, showing a strong Bitcoin-friendly stance.&nbsp;<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/20155514/f_vu9qkxcaayl7b.jpg" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/20155514/f_vu9qkxcaayl7b.jpg"></a>He aims to replace the faltering Argentine peso with the US dollar due to the country’s staggering 143% hyperinflation.&nbsp;Milei’s support for Bitcoin aligns with prior protests against inflation. While not explicitly advocating Bitcoin, he criticises central banking, praising Bitcoin for returning monetary control to the private sector.&nbsp;The news led to a 2% surge in Bitcoin’s value.Read more here:&nbsp;<a href="https://imperialwealth.com/news/victory-for-argentinas-bitcoin-friendly-candidate-javier-milei-in-presidential-election" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/victory-for-argentinas-bitcoin-friendly-candidate-javier-milei-in-presidential-election</a>&nbsp;<h3>SEC Initiates Fresh Lawsuit Accusing Kraken of Operating Unregistered Online Trading Platform</h3>The SEC filed a lawsuit against Kraken, alleging securities violations.&nbsp;<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/21090433/sec-kraken.jpg" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/21090433/sec-kraken.jpg"></a>Kraken acted as a broker, dealer, and exchange for crypto assets without registering, risking investor safety while collecting substantial fees.&nbsp;SEC claims Kraken mingled $33 billion in customer crypto with corporate assets. It highlights Kraken’s cash mixing and aims for a permanent injunction and return of profits.&nbsp;Previously, Kraken’s parent faced SEC charges and settled for $30 million. The regulator identified tokens like Algorand’s ALGO as unregistered securities.&nbsp;Read more here:&nbsp;<a href="https://imperialwealth.com/news/sec-initiates-fresh-lawsuit-accusing-kraken-of-operating-unregistered-online-trading-platform" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/sec-initiates-fresh-lawsuit-accusing-kraken-of-operating-unregistered-online-trading-platform</a>&nbsp;<h3>U.S. Authorities Reach $4.3 Billion Agreement with Binance, Strike Plea Deal with CZ</h3>The U.S. DOJ revealed Binance’s CEO CZ’s guilty plea in criminal and civil cases, involving a $4.3 billion settlement.&nbsp;<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/22081838/dojbibabbbbb.jpg" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/22081838/dojbibabbbbb.jpg"></a>Accusations included Binance enabling illegal fund transfers and falsely claiming compliance. CZ faces a $50 million fine and admitted breaching the Bank Secrecy Act.&nbsp;Binance must appoint oversight for three years, report compliance, and CZ is barred from leadership for that duration. TThis marks a government win against major crypto players.&nbsp;Binance’s statement acknowledges past compliance gaps but emphasises commitment to user security, clarifying no allegations of fund misappropriation or market manipulation were made in U.S. resolutions.Read more here:&nbsp;<a href="https://imperialwealth.com/news/u-s-authorities-reach-4-3-billion-agreement-with-binance-strike-plea-deal-with-cz" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/u-s-authorities-reach-4-3-billion-agreement-with-binance-strike-plea-deal-with-cz</a>&nbsp;<h2>Technical Analysis</h2>Wild week!BTC has maintained its uptrend/trendline.&nbsp;Please see the chart below:<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/23154434/BTCUSD.P_2023-11-23_16-44-20_17e5c.png" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/23154434/BTCUSD.P_2023-11-23_16-44-20_17e5c.png"></a>Here we’ve held it, bounced from the local golden pocket, and reclaimed the major .382. Awesome stuff.Last Thursday we were sitting at $36,400 – since, we ranged up to the highs, failed to break them, dumped all the way back to $35.5k, renounced to as high as $37,800 this morning, before retreating to where we currently trade around $37,300 as of writing.Still really positive.Last week I showed a number of structural bearish charts that were invalidated.These still are, with all HTF bullish charts and scenarios looking really healthy still, that you can view in last weeks chronicle.The only difference between last week and this week, is alts were the rage. We saw SOL as high as $60+, LINK as high as $16, amongst others, now with BTC close to range highs again, these trade a fair bit lower for the time being, with alts getting wishy washed in these BTC movements.For now, BTC target of $38k remains as resistance, if it breaks, we could see $40k + very easily.Please see the chart below:<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/23154326/BTCUSD.P_2023-11-23_16-43-09_1ee10.png" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/23154326/BTCUSD.P_2023-11-23_16-43-09_1ee10.png"></a>Downside support remains around $35,500, with $34,000, $32,400 and $30,000 all integral HTF levels of support under us if we do see a deep retracement.Please see the chart below:<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/23154120/BTCUSD.P_2023-11-23_16-41-10_d535a.png" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/23154120/BTCUSD.P_2023-11-23_16-41-10_d535a.png"></a>BTC.D remains to and from the 53% level as the market confuses itself constantly! Still believe 57-60% can be seen on an ETF approval, before any real alt rally.We are currently running 50% OFF SALES on all of our trading/investment services!If you are keen to get investing, trading,&nbsp;<a href="https://imperialwealth.com/consultation/crypto" rel="noopener noreferrer" target="_blank">feel free to book a free online consultation here!&nbsp;</a>You will gain access to our BLACK FRIDAY sales on these products!<h2>Cryptocurrency Mining</h2>Bitcoin&nbsp;has performed very strongly over the past 2 weeks as Bitcoin rewards remain strong with transactional fees remaining High. Block rewards currently sit around 7.5btc per block which is an increase of 1.5btc additional from fees.&nbsp;Looks as though a small 3% difficulty rise is on the cards in 3 days time which is quite standard.&nbsp;Hashrate has seen a huge spike to 550 EH which is most likely which difficulty has risen. There was a report than Hashrate was going to rise a bit more due to lots of hobby miners turning on older machines to try and gain a bit more BTC before than halving with higher fees and BTC price rise.&nbsp;Other networks:&nbsp;Doge and LTC has seen a 30% drop in difficulty which has improved the returns on L7 models.&nbsp;KAS has had a rise of 8% in difficulty to compensate for the gigantic price increase over the past fortnight.Dash has continued to drop difficulty as the price has dropped, this is giving miners a greater reward for the moment.&nbsp;Kadena has had a very stable week with only a 0.7% rise in difficulty.If you wish to speak to Taylor on any of these machines,&nbsp;<a href="https://imperialwealth.com/consultation/crypto" rel="noopener noreferrer" target="_blank">feel free to book a free online consultation here!</a>As part of the Black Friday sale, we have huge discounts on BTC and KAS MINERS!That’s it for this weeks edition, stay tuned for next weeks!Thanks!

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Crypto Chronicle 23/11/23

Crypto Chronicle - 23/11/23

<h1>Investing in Crypto with Your Self-Managed Super Fund (SMSF)</h1>Over the past decade cryptocurrencies have emerged from a speculative niche to being the world's fastest growing asset class. Today, crypto assets like Bitcoin (BTC), Ethereum (ETH), and others have gained mainstream acceptance and are being considered by many as a legitimate part of a diversified investment portfolio. Recognising the potential of the crypto market, many Australians with Self-Managed Super Funds (SMSF) are actively seeking avenues to invest in this dynamic space. In this guide, we aim to demystify the realm of SMSF-based crypto investments, and showcase how platforms like Coinstash can help your SMSF gain exposure to crypto-assets.<h2>What is a Self-Managed Super Fund (SMSF)?</h2><h3>Understanding SMSFs</h3>A Self-Managed Super Fund (SMSF) is a special entity that allows Australians to directly manage and invest their superannuation. Unlike traditional industry or retail super funds managed by investment professionals, an SMSF gives individuals the autonomy (and responsibility) to oversee their superannuation savings personally. This level of control and flexibility attracts many investors who want greater control of their retirement savings and to explore alternative investment options like cryptocurrencies.<h2>Can SMSFs Invest in Bitcoin &amp; Cryptocurrency?</h2>Yes - SMSFs can invest in cryptocurrency!&nbsp;However, it does require careful consideration of both the superannuation laws and your compliance obligations.The current stance of the ATO is that crypto assets are a valid investment choice for SMSFs, on condition that:<ul><li>They are permitted under the SMSF fund’s trust deed.</li><li>They comply with the fund’s investment strategy.</li><li>They comply with the applicable superannuation laws, as is required of all SMSF investments, set forth in the<a href="https://www.legislation.gov.au/Details/C2022C00122" rel="noopener noreferrer" target="_blank"> Superannuation Industry (Supervision) Act 1993 (SIS Act)</a> and the<a href="https://www.legislation.gov.au/Details/F2019C00655" rel="noopener noreferrer" target="_blank"> Superannuation Industry (Supervision) Regulations 1994 (SIS Regulations)</a>.</li></ul>Importantly, all SMSFs must be registered with the ATO, have an Australian Business Number (ABN) and a Tax File Number (TFN). They must also have a separate bank account for its transactions.<h2>How to set up an SMSF for Cryptocurrency Investments?</h2>If you are considering investing in crypto through your SMSF, there are certain steps you must take to ensure you can do so.&nbsp;<h3>1) Consult Your Financial Adviser</h3>Before diving in, it’s crucial to begin by discussing your plans with a financial advisor. This is important whether you’re setting up an SMSF for the first time or evaluating your current SMSF's capacity to invest in crypto. A financial adviser can provide tailored advice, ensuring your investment strategy aligns with your investment goals, risk tolerence, and complies with regulatory requirements.<h3>2) Establish Your SMSF</h3>If you are setting up an SMSF for the first time, it's essential to understand that this process involves several crucial steps. While it's possible to manage this independently, many find it beneficial to enlist the help of professionals who specialise in SMSF establishment. These experts can guide you through the complexities of creating an SMSF, ensuring that your fund is set up correctly and complies with all the legal requirements.<h3>3) Review and Update Your SMSF Trust Deed</h3>After consulting with your financial adviser and establishing your SMSF, the next critical step is to review your SMSF Trust Deed. This is crucial whether you are setting up a new SMSF or have an existing one. The Trust Deed is the foundation of your fund, outlining its structure and investment rules.If you’re creating a new SMSF, ensure that the deed drafted by professionals includes provisions for cryptocurrency investments. For those with an existing SMSF, check if your current deed already covers such investments. If it's outdated or doesn’t explicitly allow for crypto investments, you'll need to update it. Most modern Trust Deeds are designed to be broad enough to to cover investments like crypto, but here’s what to check:<ul><li>Sole Purpose Test: The deed should clearly outline the sole purpose of your SMSF, which is to provide retirement benefits to its members.</li><li>Trustee Details: It needs to identify the trustees, their powers, and confirm they have been appointed in line with the SIS Act and Regulations. Trustees must always act in the best interests of the SMSF members.</li><li>Member Consent and Responsibilities: All trustees and directors are required to provide written consent and sign a Trustee declaration, acknowledging their duties within 21 days of their appointment. The deed should list the members of the SMSF, outline the process for adding new members, and define their rights and responsibilities.</li><li>Cryptocurrency Clause: Lastly, ensure the deed specifically permits cryptocurrency investments, either explicitly or under a broad investment clause.</li></ul><h3>4) Include Cryptocurrency in Your SMSF Investment Strategy</h3>The next step is to develop a clear investment strategy. This strategy must include cryptocurrency as part of the planned assets and align with your SMSF’s overall investment goals and risk profile. It's essential to ensure this strategy is documented, reflecting how crypto investments fit into the broader portfolio.The SMSF's investment strategy must be a living document, subject to at least an annual review and updated as necessary to reflect changing market conditions or shifts in members' investment goals and risk appetites. This is particularly relevant when considering the diverse needs of different members.<h3>5) Register Your SMSF</h3>To start your Self-Managed Super Fund (SMSF), you need to officially register it with the Australian Taxation Office (ATO). If your SMSF is managed by a company (corporate trustee), you'll also need to register with the Australian Securities and Investments Commission (ASIC).There are several important steps in this process:1) Sign the Trust Deed: This document needs to be signed by hand to officially set up your SMSF.2) Register with the ATO: After your fund is set up and the trustees are chosen, your SMSF must be registered with the ATO and have applied for an Australian Business Number (ABN) within 60 days. Don't forget to:<ul><li>	Get a Tax File Number (TFN) for your SMSF.</li><li>	Choose to have your fund to be an ATO-regulated SMSF - as this allows you to get tax concessions and claim deductions.</li></ul>3) Appoint an Auditor: You must choose an approved auditor to check your SMSFs finances. This needs to be done 45 days before you file your SMSF's annual return. The auditor should be independent and registered with ASIC. You can find one through the ASIC SMSF auditor register.It's a good idea to work with an accountant during this process to make sure everything is done correctly.<h3>6) Open a Bank Account for Your SMSF</h3>To manage your SMSF fund, you need to open a bank account in the name of the SMSF. This account will be used to handle the fund's operations, including receiving contributions, super rollovers, and income from investments.It's essential to select a reliable bank that offers services specifically for SMSF entities. This ensures that the account setup aligns with SMSF requirements.A separate bank account for the SMSF is crucial. It keeps the SMSF’s funds distinct from the personal accounts of its members, maintaining clear financial boundaries.<h3>7) Select a Reputable Australian Cryptocurrency Exchange</h3>Once your Crypto SMSF is fully established, the next step is to pick the right crypto exchange. This decision is crucial for managing your SMSF's crypto investments effectively. When selecting a digital currency exchange for your SMSF, consider these key factors:<ul><li>Australian Based: The exchange should be based in Australia.</li><li>AUSTRAC Registered: Ensure the exchange is registered with AUSTRAC.</li><li>SMSF Account Support: The exchange should offer specific account types for SMSFs.</li><li>Tax Reporting Features: Look for comprehensive transaction reporting capabilities and integrations with crypto tax software providers, facilitating end-of-year financial assessments.</li></ul>When registering your account on an exchange, it’s important to do so as an SMSF to adhere to the sole purpose test. You will also need to provide relevant documents, such as your SMSF deed and personal ID.&nbsp;<a href="https://coinstash.com.au/" rel="noopener noreferrer" target="_blank">Coinstash</a> sets itself apart in the Australian market with its dedicated <a href="https://coinstash.com.au/smsf" rel="noopener noreferrer" target="_blank">SMSF services</a>. Being an AUSTRAC-registered platform, it guarantees adherence to regulatory standards and offers bespoke account options designed for SMSFs. Coinstash facilitates easy management of tax and audit responsibilities, thanks to its integration with top-tier tax software providers like<a href="https://www.syla.com.au/guides/coinstash" rel="noopener noreferrer" target="_blank"> Syla</a> and<a href="https://koinly.io/integrations/coinstash/" rel="noopener noreferrer" target="_blank"> Koinly</a>. This makes it a preferred platform for Australian SMSF investors looking to venture into cryptocurrency investments with their super funds.<h3>8) Store Your Crypto Assets Securely</h3>Ensuring the secure storage of your SMSFs crypto assets is paramount. There are various options available for storing cryptocurrencies in your SMSF, such as keeping them on a trusted exchange like <a href="https://coinstash.com.au/" rel="noopener noreferrer" target="_blank">Coinstash</a>, or using a digital wallet or offline hardware wallet.If you choose to store crypto on an exchange, it's vital to ensure that these assets remain distinctly separate from any personal holdings. Using a dedicated exchange account specifically for your SMSF is essential. This segregation is not only necessary for organisational purposes but also critical for compliance and audit transparency. It is also recommended to implement strict security measures, including multi-factor authentication and regular backups, to protect your SMSF assets from potential hacking and theft.If you opt for a wallet, it's recommended to use an external hardware wallet over a digital warm wallet, as keeping your assets offline in cold storage offers enhanced security. Additionally, it's important to maintain clear documentation for SMSF audit purposes. Make sure any hardware wallet purchases are invoiced to the SMSF and keep a copy of this tax invoice. It's crucial to use this wallet exclusively for the SMSFs assets, without mixing in any personal investments.<h2>What are the Tax Implications of Investing in Cryptocurrency with an SMSF?</h2><h3>ATO Rules and Guidelines for Crypto SMSFs in Australia</h3>The Australian Taxation Office (ATO) has specific rules and guidelines regarding the tax treatment of investments in Bitcoin and other cryptocurrencies in SMSFs. SMSF trustees must ensure accurate tax reporting, including declaring income earned from crypto trades and capital gains or losses incurred. It is essential to consult with tax professionals who specialise in cryptocurrency taxation to ensure compliance with super and tax laws.<h3>Taxation of Capital Gains and Losses</h3>Cryptocurrency within your SMSF is considered a Capital Gains Tax (CGT) asset. This means that any sale or swap of a coin or token typically leads to a capital gain. If you sell your cryptocurrencies at a profit, the capital gain will be included in the SMSF's assessable income and taxed at the applicable tax rate. On the other hand, if you sell your cryptocurrencies at a loss, the capital loss can be used to offset capital gains from other SMSF investments or carried forward to future years.Here's what you need to know about how crypto is taxed in an SMSF:<ul><li>The standard tax rate for SMSFs is 15% on all income, including money made from selling crypto.</li><li>If your SMSF holds a crypto asset for more than a year and then sells it, you can get a third off the CGT. So, instead of 15%, it's taxed at 10%.</li><li>For assets held less than a year, the full 15% tax rate applies.</li></ul><h3>Understanding SMSF Tax Reporting and Compliance</h3>Compliance with SMSF tax reporting requirements is crucial when investing in crypto. SMSF trustees must keep accurate records of all cryptocurrency transactions, including the date of acquisition, sale price, and any associated expenses. These records are necessary for tax reporting purposes and may be requested during an audit. Failure to comply with tax reporting obligations can result in penalties or even the loss of the SMSF's complying status.To ensure compliance with SMSF regulations, it is essential to stay informed about the ATO rules and guidelines concerning crypto investments. The ATO has specific requirements for SMSFs investing in cryptocurrencies, such as ensuring separation of personal assets from fund assets and maintaining accurate records of all transactions. Regular auditing of the SMSF's financial statements is also necessary to meet compliance standards.For SMSFs holding digital assets, it is necessary to ascertain the fair market value of these assets as of June 30 each financial year. This valuation is an important requirement for annual reporting. This can be achieved by using a cryptocurrency exchange that provides historical pricing data. The crucial figure needed is the cryptocurrency's closing price on June 30. This value is then reported in the SMSF tax return, under item 15c, to accurately reflect the market value of the cryptocurrency assets at the end of the financial year.<h2>What Cryptocurrencies Can You Include in Your SMSF portfolio?</h2>When considering what assets to include in your SMSF's cryptocurrency portfolio, the options are vast and varied. Popular choices like<a href="https://coinstash.com.au/btc/buy" rel="noopener noreferrer" target="_blank"> Bitcoin (BTC)</a> and<a href="https://coinstash.com.au/eth/buy" rel="noopener noreferrer" target="_blank"> Ethereum (ETH)</a> often come to mind first, but there's a whole world of digital assets available for your cryptocurrency SMSF. From well-established coins like<a href="https://coinstash.com.au/xrp/buy" rel="noopener noreferrer" target="_blank"> Ripple (XRP)</a> and<a href="https://coinstash.com.au/ltc/buy" rel="noopener noreferrer" target="_blank"> Litecoin (LTC)</a> to emerging tokens and altcoins, the choices are diverse. It's important to research and understand each coin's market performance and potential before including it in your SMSF.&nbsp;Remember, investing in cryptocurrencies through an SMSF requires adherence to ATO regulations and a well-crafted investment strategy.<h2>Considerations &amp; Tips for Investing in Crypto With Your SMSF</h2><h3>Choose a Reliable Digital Currency Exchange for Your SMSF</h3>Selecting a reputable digital currency exchange is essential when investing with your SMSF. Consider factors such as security measures, user interface, customer support, and the range of cryptocurrencies available for trading. It is also advisable to compare transaction fees and withdrawal limits to ensure they align with your SMSF's strategy and investment objectives.<h3>Work with a Professional SMSF Auditor and Advisor</h3>Engaging the services of a professional SMSF auditor and a financial advisor is highly recommended when investing in crypto with your SMSF. These experts can help you navigate the complexities of SMSF regulations, tax reporting obligations, and compliance requirements. They can help ensure the overall success of your SMSF crypto investments and ensure the SMSF remains compliant.<h2>How to Set Up a Crypto SMSF Account on an Exchange?</h2>Setting up a SMSF account on Coinstash is simple and straightforward, making it a great option for investors looking to manage their SMSF on a specialised crypto platform. To get started, you will need to complete a detailed<a href="https://23sapifszyq.typeform.com/to/CAMtLcAo" rel="noopener noreferrer" target="_blank"> account registration form</a> on the Coinstash platform, with important details such as your personal information and SMSF trust deed. Following this, the next step is to book a consultation with one of our experts. They will then guide you through the process, ensuring you understand the intricacies of crypto investment in an SMSF, and that your account aligns with both your objectives and regulatory requirements.<h2>Easily Manage Your Crypto SMSF with Coinstash</h2>When setting up a crypto SMSF account, Coinstash stands out as the premier choice for Australian investors. With its seamless integration with many leading tax software providers and user-friendly interface, Coinstash provides an unparalleled experience in managing crypto SMSF accounts. Renowned for its robust security measures and adherence to regulatory standards, Coinstash ensures your investments are both safe and compliant with ATO guidelines.Our platform offers access to a wide range of over 1,000+ coins, coupled with detailed reporting features, making it an ideal solution for those looking to diversify their SMSF with digital assets. Whether you're a seasoned investor or new to the world of crypto, Coinstash's dedicated expert support&nbsp;make it the go-to option for easily setting up and managing your crypto SMSF account.<a href="https://23sapifszyq.typeform.com/to/CAMtLcAo?typeform-source=app.intercom.com" rel="noopener noreferrer" target="_blank">Click here to book a consultation with one of our SMSF experts!</a> <h2>Frequently Asked Questions</h2>

CompactFAQ

Disclaimer: This article and its contents are intended for informational purposes only, and do not constitute financial advice from TWMT Pty Ltd, trading as Coinstash AU ("Coinstash"). Coinstash is not a licensed financial advisor and does not provide financial advice. You should consider seeking financial, legal, tax or other professional advice to check how the information relates to your unique circumstances. Coinstash shall not be held responsible or liable for any losses, whether due to negligence or otherwise, stemming from the use of, or reliance upon, the information provided directly or indirectly in this article.

How to Invest in Crypto with your SMSF

Welcome to the sixteenth edition of the Crypto Chronicle, brought to you by <a href="https://imperialwealth.com/consultation/crypto/coinstash" rel="noopener noreferrer" target="_blank">Imperial Wealth</a>.You can listen to todays episode<a href="https://open.spotify.com/episode/4KVVASOUsjrScGfMYWeoBS?si=dTdlzmMzS_GyLCcDwomkEg" rel="noopener noreferrer" target="_blank"> here</a><a href="https://open.spotify.com/episode/0Opt1FdwD6IRV1hlg8LLaG?si=4a8p30PLRReM8EqjJNRHkA" rel="noopener noreferrer" target="_blank">.</a><h2>News</h2><h3>Nasdaq Filing Confirms BlackRock’s Intentions for Ethereum ETF</h3>BlackRock, the world’s largest asset manager, plans to launch an Ethereum ETF, demonstrating its growing commitment to cryptocurrencies.&nbsp;Nasdaq revealed this intention through a filing, with BlackRock aiming to list the ETF on the U.S. exchange, pending regulatory approval.&nbsp;<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/10104553/DALL%C2%B7E-2023-11-09-15.webp" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/10104553/DALL%C2%B7E-2023-11-09-15.webp"></a>The registration of “iShares Ethereum Trust” in Delaware further signals BlackRock’s ETF involvement. The company’s prior interest in a Bitcoin ETF, seen as a tool to enhance crypto accessibility for average investors, has generated industry attention.&nbsp;Meanwhile, at least five firms, including VanEck, ARK 21Shares, Invesco, Grayscale, and Hashdex, vie for SEC approval for an Ethereum ETF. Ethereum’s value has risen to $2.1k.Read more here:&nbsp;<a href="https://imperialwealth.com/news/nasdaq-filing-confirms-blackrocks-intentions-for-ethereum-etf" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/nasdaq-filing-confirms-blackrocks-intentions-for-ethereum-etf</a>&nbsp;<h3>BlackRock Contends SEC Lacks Basis for Distinguishing Between Crypto Futures and Spot ETFs</h3>BlackRock challenges the SEC’s reliance on the 1940 Act for crypto futures ETFs, asserting its irrelevance to both crypto-spot and futures ETFs.&nbsp;<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/14084752/blackrock-bitcoin-etf.jpg" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/14084752/blackrock-bitcoin-etf.jpg"></a>With the confirmation of BlackRock’s spot-Ether ETF, it questions the SEC’s denial of spot-crypto ETFs, arguing the agency’s distinctions are regulatory missteps.&nbsp;While the SEC prioritises the 1940 Act for futures ETFs, BlackRock emphasises its restrictions on ETFs, not underlying assets.&nbsp;The firm contends that CME surveillance, approved by the SEC, detects fraud in the spot market, leaving no valid reason for rejection.Analysts predict a 90% chance of SEC approving a spot crypto ETF by January 10.Read more here:&nbsp;<a href="https://imperialwealth.com/news/blackrock-contends-sec-lacks-basis-for-distinguishing-between-crypto-futures-and-spot-etfs" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/blackrock-contends-sec-lacks-basis-for-distinguishing-between-crypto-futures-and-spot-etfs</a>&nbsp;<h3>XRP Pumps and Dumps off the Back of Fake BlackRock ETF XRP Listing</h3>A fraudulent BlackRock filing hinting at an XRP exchange-traded product caused a swift 12% surge in XRP, reaching $0.73 within 30 minutes.&nbsp;<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/14104152/XRPUSDT_2023-11-14_11-38-35_eea94.png" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/14104152/XRPUSDT_2023-11-14_11-38-35_eea94.png"></a>The gains were short-lived as Bloomberg ETF analyst Eric Balchunas, confirming the filing as fake with BlackRock, led to a rapid reversal.&nbsp;Balchunas speculated on impersonation in adding the XRP trust to the Delaware list. Bitcoin Magazine’s Dylan LeClair and The Block initially reported the news.&nbsp;Despite the incident, BlackRock’s genuine spot Ether ETF filing on November 9 was confirmed via a 19b-4 submission by Nasdaq to the Securities and Exchange Commission.Read more here:&nbsp;<a href="https://imperialwealth.com/news/xrp-pumps-and-dumps-off-the-back-of-fake-blackrock-etf-xrp-listing" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/xrp-pumps-and-dumps-off-the-back-of-fake-blackrock-etf-xrp-listing</a>&nbsp;<h3>Institutional Bitcoin Inflows Surpass $1 Billion in 2023 Amidst Tightening BTC Supply</h3>Cryptocurrencies, including Bitcoin and altcoins, have seen substantial inflows this year, fuelling considerations about a potential Bitcoin supply shortage, especially with upcoming ETF approvals and the halving event.&nbsp;Digital asset investment products reported a $293 million inflow last week, marking seven consecutive weeks of positive flows.&nbsp;CoinShares’ data indicates year-to-date crypto exchange-traded product flows at $1.14 billion.&nbsp;<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/14091454/211116-bitcoinaltcoins-stock.jpg" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/14091454/211116-bitcoinaltcoins-stock.jpg"></a>Ethereum also experienced significant inflows. Solana attracted $12 million in a week, leading to a year-to-date total of $121 million.&nbsp;Glassnode’s analysis reveals Bitcoin storage surpassing mining by 2.4 times amid renewed interest, while on-chain analytics point to increasing wallet entities.Read more here:&nbsp;<a href="https://imperialwealth.com/news/institutional-bitcoin-inflows-surpass-1-billion-in-2023-amidst-tightening-btc-supply" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/institutional-bitcoin-inflows-surpass-1-billion-in-2023-amidst-tightening-btc-supply</a>&nbsp;<h3>Bitcoin Miners Set Annual All-Time High with Daily Earnings of $44 Million</h3>On November 12, Bitcoin miners achieved an annual record, earning over $44 million in combined block rewards and transaction fees.&nbsp;The revenue comes from validating transactions and creating new blocks through advanced mining rigs, with miners receiving 6.25 BTC and transaction fees per successful block.&nbsp;<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/14093947/27bfa746-7326-43cc-8958-91c31b27d33e.webp" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/14093947/27bfa746-7326-43cc-8958-91c31b27d33e.webp"></a>This surpassed daily earnings in 2023, marking the highest figure since April 2022. Between April 2022 and November 2023, global Bitcoin miners faced a revenue decline due to a bear market, negative sentiment, and regulatory challenges.&nbsp;However, 2023 saw a reversal, driven by rising market prices and increased public interest.&nbsp;Countries like Bhutan actively engage in Bitcoin mining using hydropower, exploring partnerships to expand operations.Read more here:&nbsp;<a href="https://imperialwealth.com/news/bitcoin-miners-set-annual-all-time-high-with-daily-earnings-of-44-million" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/bitcoin-miners-set-annual-all-time-high-with-daily-earnings-of-44-million</a>&nbsp;<h3>CBOE Set to Introduce Margin Futures Trading for BTC and ETH in January with Support from 11 Firms</h3>Cboe Digital is set to launch BTC and Ether margin futures trading on January 11, 2024, marking a U.S. first by offering both spot and leveraged derivatives trading on a single platform.&nbsp;The move aligns with a growing interest in cryptocurrency financial products in the United States. John Palmer, Cboe Digital’s President, anticipates that derivatives will enhance liquidity and hedging opportunities in the crypto market.<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/14085842/101014763-scaled.webp" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/14085842/101014763-scaled.webp"></a>The platform, approved by the U.S. Commodity Futures Trading Commission, plans to expand into physically delivered products.&nbsp;Meanwhile, BTC futures open interest is surging on the Chicago Mercantile Exchange, competing with Cboe Digital.&nbsp;The industry awaits the SEC’s decision on 12 spot BTC ETF applications.Read more here:&nbsp;<a href="https://imperialwealth.com/news/cboe-set-to-introduce-margin-futures-trading-for-btc-and-eth-in-january-with-support-from-11-firms" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/cboe-set-to-introduce-margin-futures-trading-for-btc-and-eth-in-january-with-support-from-11-firms</a>&nbsp;<h3>JPMorgan Introduces Programmable Payments on its Institutional Blockchain Platform with JPM Coin&nbsp;</h3>JPMorgan has introduced programmable payments on its blockchain platform, JPM Coin, for institutional users.&nbsp;<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/14082657/JPM.jpg" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/14082657/JPM.jpg"></a>Naveen Mallela, head of JPMorgan’s Onyx blockchain platform, described it as a significant milestone, considering it the “holy grail” for their blockchain.&nbsp;Siemens AG is the first institutional client to utilise this feature, emphasising its use for automation and data-driven digital business models.&nbsp;The offering, deemed a “first-of-its-kind” by a global commercial bank, enables users to program payments through an “If-This-Then-That” interface.&nbsp;JPMorgan is also working on a separate blockchain solution for cross-border transactions, awaiting regulatory approval in the United States.Read more here:&nbsp;<a href="https://imperialwealth.com/news/jpmorgan-introduces-programmable-payments-on-its-institutional-blockchain-platform-with-jpm-coin" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/jpmorgan-introduces-programmable-payments-on-its-institutional-blockchain-platform-with-jpm-coin</a>&nbsp;<h3>Sam Bankman-Fried Convicted on All Seven Charges in FTX Fraud Case</h3>Following a five-week trial in New York, Sam Bankman-Fried, the founder and former CEO of FTX, has been found guilty on charges including wire fraud, wire fraud conspiracy, securities fraud, commodities fraud conspiracy, and money laundering conspiracy.New York District Judge Lewis Kaplan will schedule his sentencing, with a potential maximum prison term of 110 years.<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/03103552/IMG_4796.jpeg" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/03103552/IMG_4796.jpeg"></a>Key FTX executives, including Caroline Ellison, Gary Wang, and Nishad Singh, have already pleaded guilty and testified against Bankman-Fried.He initially pleaded not guilty, claiming innocence and attributing FTX’s 2022 collapse to “big mistakes.”A CoinDesk article revealing FTX’s substantial token holdings by Alameda triggered the downfall.Read more here:&nbsp;<a href="https://imperialwealth.com/news/sam-bankman-fried-convicted-on-all-seven-charges-in-ftx-fraud-case" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/sam-bankman-fried-convicted-on-all-seven-charges-in-ftx-fraud-case</a><h2>Technical Analysis</h2>What a few weeks it’s been.The last time we touched base on the Podcast &amp; Chronicle, we were priced at $34,400, with current pricing as of writing at $36,400, with much movement in between, but generally up only!A number of bearish levels have been invalidated on this move.The first, being the pivot Golden Pocket from&nbsp;our April ’22 high to our November low, with confluence of an ascending parallel channel. This is broken.Please see the chart below:<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/14112827/BTCUSD_2023-11-14_12-27-57_3e7f7.png" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/14112827/BTCUSD_2023-11-14_12-27-57_3e7f7.png"></a>Additionally, pulling the Fib from ATH, to our Nov ’22 low, we have seemingly flipped the major upside .382 resistance to support for now as well, slicing through it.Please see the chart below:<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/14113339/BTCUSD_2023-11-14_12-33-29_80f6a.png" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/14113339/BTCUSD_2023-11-14_12-33-29_80f6a.png"></a>So it’s fantastic to see us reclaiming these super important Fibonacci levels.What is fuelling this further, is our HTF bullish scenarios and indicators continuing to play out.Firstly, our Bullish Market Structure remains in tact, and looks very strong on both a relative scale, and log scale.Please see the relative scale below:<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/14115917/BTCUSD_2023-11-14_12-59-08_9b79a.png" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/14115917/BTCUSD_2023-11-14_12-59-08_9b79a.png"></a>Please see the log chart below:<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/14120810/BTCUSD_2023-11-14_13-07-59_2f654.png" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/14120810/BTCUSD_2023-11-14_13-07-59_2f654.png"></a>Additionally, our SMAs (50, 100, 200) still remain under us as support.Please see the chart below:<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/14142817/BTCUSD_2023-11-14_15-28-05_4e492.png" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/14142817/BTCUSD_2023-11-14_15-28-05_4e492.png"></a>And of course, we have a handy weekly inverse H&amp;S still playing out.Please see the chart below:<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/14121205/BTCUSD_2023-11-14_13-11-56_c1926.png" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2023/11/14121205/BTCUSD_2023-11-14_13-11-56_c1926.png"></a>This move has been awesome!Hopefully it continues – but corrections are expected and BTC is currently underdoing one.We may bounce from here – we may put in our next HL under us, I would like to see this land between $30-$34k ideally, if there is a deep retracement/sell off.Shake out the jeets, and upwards we go again! (Hopefully!)<h2>Cryptocurrency Mining</h2>From Taylor our Miner Expert:Bitcoin showing some good strength in transaction fees which is giving miners some really solid margins. Currently block rewards are at 0.8-1 BTC per block additional, which is really positive being post weekend and usually speaking the weekend lowers the transactions, in this case it’s great to see the fees carried through. Last week we saw blocks with 2 BTC extra.&nbsp;Hashrate is sitting tight around the 460 EH range. But is fluctuating between 380-500eh.&nbsp;Difficulty pushed up 3.5% over the last few days but due to the low hashrate right now we are seeing projections of a drop in difficulty by 7% so let’s keep our fingers crossed for that!&nbsp;S19ks are doing really well for our clients due to the low efficiency, these have been the hottest thing on the market being low purchase prices compared to new S21s being a few months off and being double the price even for a pre order.Other Networks:Scrypt for LTC and Doge having a good week with a combined 5% drop in difficulty but a nice stable price action. Current L7 9.5gh profit sitting at $11 Per day hosted.&nbsp;Nervos sitting at a 28% reduction due to the incoming halving, this is not surprising as majority of old machines will very much struggle. The K7s being new tech will do well, currently profiting around $14 per day hosted.&nbsp;Dash has had a huge uptick with 25% rise in difficulty, most likely due to CKB and the cheaper hardware prices. The hashrate also dropped massively over the past few months so was always going to come back. Currently D9s are doing $14 profit per day which is still handsome.&nbsp;Kadena is quite stable with a 2% rise in difficulty and not much price movement. Hosted KSA3s are doing around $9-10 profit per day.&nbsp;Kaspa is still doing its thing with difficulty rising by 8% but price action doing a 30% rise. Currently KS3 9.4th models are producing $290 profit per day hosted.If you wish to speak to Taylor on any of these machines,&nbsp;<a href="https://imperialwealth.com/consultation/crypto" rel="noopener noreferrer" target="_blank">feel free to book a free online consultation here!</a>That’s it for this weeks edition, stay tuned for next weeks!Thanks!

Crypto Chronicle 14/11/23

Crypto Chronicle - 14/11/23

<h2>Key Takeaways</h2><ul><li>Celestia is a new take on blockchains, known as a ‘modular approach’.</li><li>It launched in an experimental capacity with 100 validators and limited features.</li><li>Its value is proving data availability (publishing)—a growing issue for applications and blockchains.</li><li>Celestia aims to be a critical low-cost infrastructure to help guarantee data assurances for blockchains or ‘rollups’ to operate.</li><li>Despite the positives, questions remain in the short term about its large launch valuation. </li></ul><h2>Celestia’s Launch &amp; Fundamentals</h2>The long-awaited Celestia blockchain officially launched on mainnet in an experimental capacity. Rollups and other modular blockchains can now use Celestia as a data-availability layer.This initial version of Celestia is far from feature-complete. Moving forward, the community will decide on which features and improvements to add to Celestia. In the launch&nbsp;<a href="https://blog.celestia.org/celestia-is-ready-to-launch/" rel="noopener noreferrer" target="_blank">announcement</a>, the core team shared potential ways to improve Celestia.<h2>Celestia Explained: A New Type of Blockchain</h2>Celestia is a blockchain but designed differently. It takes a modular approach to build a scalable data availability layer to service data-hungry blockchains.Rather than having one blockchain do everything or perform all roles (called ‘monolithic’, such as Solana), Celestia offers a different solution by splitting up core functions (called ‘modular’).Instead of handling all the duties of a blockchain, such as Solana’s approach, Celestia only handles a select few, outsourcing the rest.<ul><li>Example&nbsp;&nbsp;Ethereum outsources most of its user activity to ‘L2s’ so users can have faster transactions and cheaper fees.</li></ul><img src="https://collectiveshift.io/wp-content/uploads/2023/10/image-32-1024x441.png" alt="monolithic vs modular">Monolithic vs. modular blockchains (Source:&nbsp;<a href="https://docs.celestia.org/learn/how-celestia-works/monolithic-vs-modular" rel="noopener noreferrer" target="_blank">Celestia docs</a>)<h3>What does it provide?</h3>Celestia provides data availability (DA) as a service to other blockchains or apps. You can also think of this data publishing.Its job is to ensure the data is (or was) there and verify that data (the transaction details) have been published to the world.To do this job, Celestia uses something called ‘data availability sampling (DAS)’ to ensure data is available without doing a bunch of extra work. Simply, it takes a sample of some data to know that the rest is valid. It’s like taking a small piece of pie and being able to reconstruct the pie’s size and the ingredients in it.<h2>Celestia: Solving The Growing Need For Data Availability</h2>The need for data availability is fast-growing.As blockchains grow, so too does its data history. Over time, it gets more expensive to verify and hold this data. Celestia ensures that anyone can inspect and verify a blockchain’s data.The growing problem = new networks called ‘rollups’ must house vast amounts of data.Demand is growing fast for the service that Celestia offers—that is, the provision of cheap and accessible data-publishing guarantees.The biggest potential users of Celestia’s data availability network are Ethereum L2s and rollups. These scaling solutions have exploded in usage, with a trend to outsource activity to these other layers. Making it an opportune time for Celestia to capitalise on this fast-growing and essential need for data-publishing guarantees.Likewise, any blockchain looking to use a “modular” approach and outsource data availability are potential users.Going deeper: Why Ethereum’s next upgrade likely won’t threaten Celestia<h2>Celestia’s Ecosystem Is Growing</h2>Celestia has already developed a vibrant ecosystem, with developers and projects choosing to build with its technology.For example, multiple projects, such as&nbsp;<a href="https://docs.celestia.org/developers/intro-to-op-stack" rel="noopener noreferrer" target="_blank">OP Stack</a>&nbsp;or&nbsp;<a href="https://www.theblock.co/post/259460/arbitrum-to-integrate-its-orbit-stack-with-celestia-for-data-availability" rel="noopener noreferrer" target="_blank">Arbitrum Orbit</a>, have supported Celestia, while a handful of projects, such as Eclipse, have committed to using Celestia for data availability.<img src="https://collectiveshift.io/wp-content/uploads/2023/10/cropped-celestia-ecosystem-1024x662.png" alt="celestia ecosystem">Celestia ecosystem as of Jul. 20, 2023 (Source:&nbsp;<a href="https://celestia.org/ecosystem/" rel="noopener noreferrer" target="_blank">Celestia.org</a>)<h2>History &amp; Team</h2>Celestia remains one to watch due to the team’s history.Celestia isn’t new and has been developing since the idea was put forth in 2019. The first iteration of what is now Celestia appeared in an&nbsp;<a href="https://arxiv.org/abs/1905.09274" rel="noopener noreferrer" target="_blank">academic paper</a>&nbsp;in 2019 by Mustafa Al-Bassam. John Adler (creator of Optimistic Rollups) and Ismail Khoffi&nbsp;<a href="https://blog.celestia.org/celestia-closes-1-5m-seed-fundraise-from-interchain-foundation-binance-labs-maven-11-capital-kr1-and-others/" rel="noopener noreferrer" target="_blank">partnered</a>&nbsp;as co-founders with Al-Bassam.Celestia Labs (formerly LazyLedger Labs) is building out Celestia. It&nbsp;<a href="https://www.theblock.co/linked/97021/blockchain-project-lazyledger-raises-1-5-million-seed-funding" rel="noopener noreferrer" target="_blank">raised</a>&nbsp;a $1.5M seed round in Mar. 2021,&nbsp;<a href="https://blog.celestia.org/celestia-raises-55m-to-launch-modular-blockchain-network/" rel="noopener noreferrer" target="_blank">followed by</a>&nbsp;a joint Series A and B round worth $55M in October 2022.Celestia boasts a strong team and advisors from established backgrounds in web2 companies or web3 native blockchains from Tendermint, Interchain Foundation, Cosmos and Harmony.<img src="https://collectiveshift.io/wp-content/uploads/2023/10/image-48.png" alt="team members as of october 26 2023">Eight members of the team at Celestia Labs (Source:&nbsp;<a href="https://celestia.org/team/" rel="noopener noreferrer" target="_blank">Celestia.org</a>)<h2>TIA Tokenomics</h2>Details about the TIA token were&nbsp;<a href="https://collectiveshift.io/airdrop/celestia-new-tia-token-how-to-get-the-airdrop/" rel="noopener noreferrer" target="_blank">announced</a>&nbsp;earlier this month. I briefly share my pros and cons below. For a more in-depth analysis of TIA, click below to visit our new TIA asset page.<a href="https://collectiveshift.io/tia" rel="noopener noreferrer" target="_blank">TIA Asset Page</a>What?<ul><li>Total supply: 1 billion TIA.</li><li>Inflation schedule: 8% in the first year, decreasing 10% per year until reaching an inflation floor of 1.5% per year.</li></ul>The good:&nbsp;TIA has real utility and productive power.<ul><li>With Celestia being a PoS blockchain, TIA is essential to delegating stake and maintaining security.</li><li>TIA has governance power to help decentralisation and impact real decisions, such as network parameters or what to do with the community pool.</li><li>TIA is used to pay for transaction fees.</li><li>TIA can be used to bootstrap other Cosmos-based chains.</li></ul>The bad:&nbsp;TIA launched with a massive ~$2.4B fully diluted validation (FDV), with only 14% of tokens released into the market. Likewise, over 50% of the token went towards early investors and contributors.<img src="https://collectiveshift.io/wp-content/uploads/2023/11/image-1024x588.png" alt="distribution">As per market intelligence firm Messari, to justify the valuation, Celestia will need to capture 2x the rollup adoption of Ethereum.One has to question whether this high value at launch is very high in the short term, given Celestia has yet to capture many projects using its services.<h2>Competitors</h2>Celestia is not the only one to have recognised the fast-growing market need for data availability. Its closest competitors are EigenDA and Avail, which have yet to launch.<a href="https://www.blog.eigenlayer.xyz/intro-to-eigenda-hyperscale-data-availability-for-rollups/" rel="noopener noreferrer" target="_blank">EigenDA</a>&nbsp;is a data-availability network targeted at L2 networks on Ethereum. It is being built by EigenLabs—the team behind the restaking protocol, EigenLayer—and is expected to launch on testnet by year-end.<a href="https://www.availproject.org/" rel="noopener noreferrer" target="_blank">Avail</a>&nbsp;is another data-availability network that has been developing for a long time. The project&nbsp;<a href="https://polygon.technology/blog/polygon-labs-doubles-down-on-ethereum-data-availability-roadmap-spins-off-avail" rel="noopener noreferrer" target="_blank">spun out</a>&nbsp;of Polygon Labs earlier this year and&nbsp;<a href="https://blog.availproject.org/news-kate-testnet/" rel="noopener noreferrer" target="_blank">launched</a>&nbsp;on testnet in June. Details about an incentivised testnet should be shared this month, according to an&nbsp;<a href="https://blog.availproject.org/road-to-mainnet-september-2023/" rel="noopener noreferrer" target="_blank">Oct. 3 blog post</a>.Celestia has a first-mover advantage. Its mainnet has launched, while EigenDA is yet to launch a testnet, and Avail remains in the very early stages of its testnet.Ethereum&nbsp;also has plans to launch its own Celestia-style DA solution in the coming years (referred to as&nbsp;<a href="https://ethereum.org/nl/roadmap/danksharding/" rel="noopener noreferrer" target="_blank">Danksharding</a>), although this remains multiple years away.<h2>Risks</h2>Celestia’s main risks and challenges are threefold.1. Hefty valuation at launch:&nbsp;As explained, Celestia will need to capture a significant market share to justify its high launch FDV.2. Failing to guarantee correct data publishing:&nbsp;If this happens, confidence will reduce, and the project will likely fail.3. Long-term viability:&nbsp;If Ethereum successfully ships its own Celestia-style DA solution in the coming years, it’s unclear where Celestia fits in and whether other blockchains will recreate their own DA layer. If this happens, it will represent an existential threat to Celestia.

Celestia Launches: Why It Could Fill A Serious Need

The crypto market is an exciting and volatile place. But, contrary to popular belief, there is some method to the madness. While market movements may often seem random and unpredictable, over time, they tend to follow a fairly predictable pattern.&nbsp; As a trader or investor, understanding crypto market cycles is important to make informed investment decisions. In this article, we’ll demystify crypto market cycles, the dynamics of their four phases and the factors that influence them. By the end of this you'll be well-equipped to navigate the ever-changing digital asset landscape. <h2>What is a Crypto Market Cycle?</h2>The crypto market cycle refers to the recurring price patterns and trends that characterise the movement of the market over time.&nbsp; Just like traditional financial markets, the crypto market experiences cyclical periods of growth and decline. This natural ebb and flow is fueled by various factors, including the psychology of market participants and the overarching economic landscape. However, compared to the stock market, crypto market cycles boast their own distinctive traits and can be strikingly shorter due to their inherently <a href="https://coinstash.com.au/blog/crypto-volatility-explained" rel="noopener noreferrer" target="_blank">volatile price swings</a>. You can think of the market cycle as a blueprint outlining all the stages between the peak and low of a market. It offers invaluable insights to traders and investors, serving as a popular tool to anticipate future price movements.<h2>The Four Phases of a Market Cycle</h2>To fully grasp the concept of a crypto market cycle, it's essential to understand its four distinct phases: Accumulation, Markup, Distribution, and Markdown. Each phase has unique characteristics that can help investors identify opportunities and risks.&nbsp; Let's take a closer look at each of these phases.<h2>The Accumulation Phase</h2>Accumulation marks the beginning of every crypto market cycle. Following the end of the previous cycle after a sharp rise and dramatic fall in prices, savvy investors and long-term holders start to accumulate undervalued cryptocurrencies, believing that the market has bottomed out.&nbsp; During this phase, market volume is typically lower than average, as interest remains low. With no clear trend emerging, assets usually trade within a tight range. Prices are so stable during accumulation that some refer to this stage as "consolidation." Characteristics:- Market sentiment gradually transitions from uncertainty to hopeful neutrality- Low trading volume- Low price volatility- Tight trading range Recommended Reading: <a href="https://coinstash.com.au/blog/crypto-dollar-cost-averaging-dca" rel="noopener noreferrer" target="_blank">Crypto Dollar Cost Averaging Explained</a><h2>The Markup Phase</h2>As the Accumulation Phase ends, the Markup Phase begins, marked by a significant increase in market interest and positive sentiment. New traders and investors enter the market, driving up demand for cryptocurrencies, asset prices, and trading volumes. Market conditions improve with a sustained positive trend, often fueled by media hype, increased public awareness, and a fear of missing out (FOMO) among retail investors. This stage is commonly deemed as the start of the <a href="https://coinstash.com.au/blog/bull-vs-bear-market-difference" rel="noopener noreferrer" target="_blank">bull market or bull run</a>. Characteristics:- Bullish and positive market sentiment- Demand outweighs supply- Prices trend upwards, making new all-time highs- Trading volume increases- Media hype builds Despite the overall bullish trend, not all assets will necessarily increase in price during the Markup Phase. Some will still be affected by negative news and experience major pullbacks or corrections that go against the general market trend.&nbsp; Recommended Reading: <a href="https://coinstash.com.au/blog/bull-vs-bear-market-difference" rel="noopener noreferrer" target="_blank">Bull vs Bear Market: What’s the difference?</a><h2>The Distribution Phase</h2>The Distribution Phase commences as the market reaches its peak, with bulls and bears battling for dominance. Although trading volume remains high, asset prices fluctuate within a tight trading range until one side concedes. Market sentiment transitions from optimism to mixed emotions, driven by <a href="https://coinstash.com.au/blog/crypto-fear-greed-index" rel="noopener noreferrer" target="_blank">fear, greed</a>, and hope. Towards the end of this phase, the market will move in the opposite direction. This can take weeks or several months to play out, but typically the higher the extreme highs, the quicker the pieces fall. Investors who missed selling earlier at a profit now settle to break even — or take a slight loss. Characteristics:- Market Sentiment is mixed- Demand meets supply for a time- Price volatility is low- Trading volume is consistently high Recommended Reading: <a href="https://coinstash.com.au/blog/crypto-fear-greed-index" rel="noopener noreferrer" target="_blank">Crypto Fear and Greed Index Explained</a><h2>The Markdown Phase</h2>The fourth and final phase of market cycle's is the Markdown Phase, also known as the <a href="https://coinstash.com.au/blog/bull-vs-bear-market-difference" rel="noopener noreferrer" target="_blank">bear market</a>. As supply exceeds demand, upward market momentum slows down, buying interest dries up, and no new capital enters the market. Selling pressure builds, and fear fuels the market, leading to a sharp decline in prices, hence the name Markdown. With red the candle colour of the day, many new investors exit the market or become forced sellers.&nbsp;Panic selling frequently takes hold, potentially triggering a domino effect of plummeting prices across all assets. In certain instances, this may drive asset values down to points not witnessed since the Markup Phase. Numerous investors may face considerable losses, as the market experiences a notable decline in trading volume as participants opt to bide their time on the sidelines. For those who remain patient and vigilant, the Markdown Phase can offer opportunities to accumulate cryptocurrencies at discounted prices, preparing for the next Accumulation Phase and the start of a new cycle. Characteristics:- Market sentiment is bearish- Supply outweighs demand- Price volatility is high- Trading volume is low<h2>Factors That Affect a Crypto Market Cycle</h2>While major headlines and macroeconomic data can impact the crypto space, many sector-specific factors influence prices. These features may help explain why crypto prices move up, down, or sideways.&nbsp; Bitcoin Halvings: Every four years, the issuance rate of new <a href="https://coinstash.com.au/blog/what-is-bitcoin-btc" rel="noopener noreferrer" target="_blank">Bitcoin (BTC)</a> is cut in half in an event known as “the Bitcoin Halving”.With a reduction in supply, demand for BTC can increase, which generally pushes the price of BTC higher. As the market's leading asset, when Bitcoin's price rises, most other asset prices (except Stablecoins) tend to increase too. Historically, Bitcoin's halvings have coincided with a new markup phase, making it a good indicator to pay attention to. Recommended Reading: <a href="https://coinstash.com.au/blog/what-is-bitcoin-btc" rel="noopener noreferrer" target="_blank">What is Bitcoin (BTC)? A Beginner’s Guide</a> Major Crypto News: Positive or negative news stories and media attention can influence investor perception and participation in the market, contributing to the cyclical nature of the market. Notable recent events such as Terra (LUNA) imploding or the FTX debacle have all had lasting ripple effects across the crypto industry. Regulation and policy changes: Government policies and regulations related to cryptocurrencies and crypto trading, such as taxation, security measures, or bans, can significantly influence market cycles by either encouraging or discouraging investor participation. Social Media Sentiment: Social media platforms like Twitter, Telegram, and Discord have become major hubs in the crypto community. The collective mood of investors in these spaces can greatly impact sentiment in the market and potentially indicate whether there's a bull or bear market on the horizon.<h2>How Long Does a Crypto Cycle Last?</h2>The crypto market, though relatively new, has gone through a number of market cycle patterns. These Bitcoin and crypto market cycles have ranged from a few months to several years, influenced by various internal and external factors. Take the early<a href="https://coinstash.com.au/buy/BTC" rel="noopener noreferrer" target="_blank"> Bitcoin</a> market cycle in 2013 as an example: the value jumped from $150 to over $1,150 within months before dropping back to $250 by early 2015. Another cycle started in 2017, with the Bitcoin price rising from $1,000 to a peak of $19,000 and then declining to around $3,700 by the end of the markdown phase in 2020. Observing these patterns, some investors subscribe to the "four-year cycle theory." This idea proposes that a major markup phase occurs a few months after Bitcoin's supply is halved every four years. Where crypto assets then reach unsustainable peaks before their prices drop and stabilize close to the previous cycle's highs. They remain in this accumulation phase until the next Bitcoin halving. It's important to note that while past cycles witnessed notable "booms and busts" following previous Bitcoin halvings, there's no guarantee this trend will continue next cycle. Be cautious when relying on this theory, as it's based on a small sample size and unforeseen "<a href="https://www.investopedia.com/terms/b/blackswan.asp" rel="noopener noreferrer" target="_blank">black swan events</a>”&nbsp;could invalidate it.<h2>Investment Considerations</h2>Understanding the four phases in a crypto market cycle can provide valuable insights for investors seeking to navigate the dynamic world of digital assets. While there is no surefire way to predict the future, we can better understand the bigger picture by knowing how market cycles work.&nbsp; It’s important to be aware of the state of the crypto market before you press the buy or sell button. By staying informed and maintaining a disciplined approach to investing, you can maximize potential gains and minimize losses in the ever-evolving cryptocurrency market.<h2>Start your cryptocurrency journey with Coinstash</h2>As one of Australia's leading cryptocurrency exchanges, we understand the power of crypto and its role in shaping the digital age. And with our user-friendly platform, it's easier than ever to get started. So why not explore the exciting world of crypto with Coinstash today? With our feature-packed app and industry-leading security practices, you can start building your crypto investment portfolio with confidence. Simply sign up to buy, sell, and trade crypto in minutes. <a href="https://coinstash.com.au/auth/signup" rel="noopener noreferrer" target="_blank">Click here to sign up for FREE!</a> <h2>FAQs</h2>

Crypto Market Cycles Explained

The highly retail-focused nature of the crypto market causes emotions to play a bigger role compared to traditional markets. Crypto traders and investors often succumb to fear of missing out (FOMO) during rising markets and panic sell during downturns. Understanding the prevailing sentiment is crucial for making informed decisions and can save market participants from their own emotional reactions. The crypto Fear and Greed index is a valuable tool that measures the sentiment of the crypto market using data and market indicators. In this article, we will explore what the crypto Fear and Greed index is, how it works, and how you can use it to make better investment decisions. <h2>What is the Crypto Fear and Greed Index?</h2>The crypto Fear and Greed index is a metric that tracks the emotions and sentiments of investors towards the cryptocurrency market. It was created by <a href="https://alternative.me/crypto/fear-and-greed-index/" rel="noopener noreferrer" target="_blank">alternative.me</a>, a platform that provides insights into the cryptocurrency market. The index is a numerical representation of the degree of Fear or Greed present in the market, based on a combination of various factors. The crypto Fear and Greed index is similar to the Fear and Greed index used in the stock market, which measures investor sentiment towards stocks. Both indexes reflect Warren Buffet’s widely-cited quote: “Be fearful when others are greedy, and greedy when others are fearful”. However, the crypto Fear and Greed index is unique in that it is specific to the cryptocurrency market, which is known for its highly volatile nature.<h2>How does the Crypto Fear and Greed Index work?</h2>The crypto Fear and Greed index analyses multiple indicators to provide a metric value between 1 and 100. The index levels can be broadly separated into these categories: -A score of 1-24 represents extreme fear&nbsp;-A score of 25-49 is an indicator of moderate fear&nbsp;-A score of 50 signifies a neutral market&nbsp;-A score of 51-74 indicates moderate greed&nbsp;-A score of 75-100 represents extreme greed The crypto Fear and Greed Index is refreshed every 24 hours and delivers insights on the present day's index, as well as the previous day's score, a weekly average of the index, and a monthly average of the index. It's worth noting that the Fear and Greed Index presently focuses solely on <a href="https://coinstash.com.au/buy/BTC" rel="noopener noreferrer" target="_blank">Bitcoin</a>-related market data, rather than incorporating indicators and data for the overall cryptocurrency market. The reason for this is that Bitcoin's fear or greed sentiment tends to be closely associated with the broader digital asset market, with significant shifts in Bitcoin's price often affecting the market as a whole. *Recommended Reading: <a href="https://coinstash.com.au/blog/what-is-bitcoin-btc" rel="noopener noreferrer" target="_blank">What is Bitcoin? A Beginner’s Guide</a><h2>What does the Crypto Fear and Greed Index measure?&nbsp;</h2>To calculate the index, alternative.me uses a complex algorithm that analyses a range of factors and assigns a score to each of them. These scores are then weighted and combined to give an overall score for the index. The index looks at the following factors to calculate the value: Volatility: makes up 25% of the index and is measured by comparing Bitcoin's 30 and 90-day market volatility to drawdowns. Higher volatility is associated with fear. <a href="https://coinstash.com.au/blog/crypto-volatility-explained" rel="noopener noreferrer" target="_blank">Learn more about crypto volatility here</a>.&nbsp; Market momentum/volume: makes up 25% of the index and is measured by comparing the volume and momentum of the Bitcoin market to 30 and 90-day averages. High volume and momentum indicate negative sentiment but increase the index value, indicating greed. Social media Sentiment: accounts for 15% of the index and is measured by quantifying the total number of social media posts related to Bitcoin and their average engagement rates. High social media interactions suggest greed. Bitcoin dominance: accounts for 10% of the index and measures Bitcoin's market capitalisation compared to the overall market cap of the entire crypto market. Lower <a href="https://coinstash.com.au/blog/bitcoin-dominance-explained" rel="noopener noreferrer" target="_blank">Bitcoin dominance</a> suggests that investors are focusing on <a href="https://coinstash.com.au/blog/crypto-altcoin-season" rel="noopener noreferrer" target="_blank">altcoins</a>, indicating market greed. Google Trends: make up 10% of the index and pull data on the frequency and intensity of Bitcoin-related search terms. Higher search interest is generally associated with greed, while negatively correlated search terms may indicate fear in the market. Survey results: make up 15% of the index score, but this input is currently paused and has been for some time.<h2>Why measure Fear and Greed?</h2>With Warren Buffet’s quote as a foundation, the Fear and Greed index hinges on two fundamental assumptions - extreme fear often leads to panic and overselling, which could represent a buying opportunity, and extreme greed suggests the market could be overvaluing assets, which could signal an ideal time to sell. Many traders and investors often make decisions based on their emotions rather than logic, and fear and greed are two of the most powerful emotions that drive investment decisions. Measuring the sentiment of the market can provide valuable insights into investor behavior and help investors make more informed decisions. *Recommended Reading: <a href="https://coinstash.com.au/blog/bull-vs-bear-market-difference" rel="noopener noreferrer" target="_blank">Bull vs Bear Market: What’s the difference?</a><h2>Investment Considerations</h2>Investors should be mindful of their own emotions when making investment decisions. Fear and greed can cloud judgment and lead to irrational decisions. While the crypto Fear and Greed index can provide valuable insights into the sentiment of the market, it should not be the sole factor in making investment decisions. The index is based on a combination of factors, some of which may be subjective or difficult to quantify. Moreover, market sentiment can change rapidly and unpredictably, so it is important to take a long-term view when investing in cryptocurrencies.&nbsp;<h2>How to invest in crypto with Coinstash</h2>Want to start crypto investing but not sure how? The easiest way to start your crypto investment journey is with an online exchange like Coinstash. With low fees, low spreads and a feature-packed app, Coinstash makes it simple and safe to buy, sell and hold crypto in Australia. Not yet a client? <a href="https://coinstash.com.au/auth/signup" rel="noopener noreferrer" target="_blank">Click here to sign up for FREE!</a>

Crypto Fear and Greed Index Explained

As the world of Bitcoin and cryptocurrencies continue to grow and experience increased global adoption, there's no better time to debunk the most prevalent myths and misconceptions about this rapidly evolving industry. If you've ever believed that Bitcoin has no intrinsic value or that cryptocurrencies are too volatile to serve any practical purpose, this guide is for you. Join us as we debunk the most common Bitcoin and crypto myths, separating the fact from fiction and revealing the signal from the noise.<h2>Top 5 Myths about Bitcoin</h2><h3>Myth #1: Bitcoin is a Bubble</h3>Many critics argue that <a href="https://coinstash.com.au/buy/BTC" rel="noopener noreferrer" target="_blank">Bitcoin (BTC)</a> is a bubble, destined to burst and leave investors with significant losses. While it's true that some people invest in Bitcoin speculatively, seeking considerable returns, that doesn't automatically make Bitcoin a Bubble. Although Bitcoin has experienced <a href="https://coinstash.com.au/blog/crypto-volatility-explained" rel="noopener noreferrer" target="_blank">volatile</a> price fluctuations throughout its 14-year history, it has consistently demonstrated resilience and an ability to bounce back. Bitcoin has weathered every boom and bust price cycle it has encountered to achieve new all-time highs. Many Bitcoin enthusiasts see these price cycles as a natural feature rather than a bug, arguing that such boom and bust cycles are typical of emerging markets. Price cycles are common with new technologies as they undergo a process of price discovery, where the market determines their true worth. Similar patterns were evident with the internet and the dot-com era in the nineties. As Bitcoin continues to evolve and gain wider adoption worldwide, supporters expect less dramatic price swings and longer intervals between them, resulting in a more stable price in the future. Recommended Reading: <a href="https://coinstash.com.au/blog/crypto-market-cycles" rel="noopener noreferrer" target="_blank">Crypto Market Cycles Explained</a><h3>Myth #2: Bitcoin has No Real-world Use Case</h3>Some critics claim that Bitcoin lacks real-world utility or that it is primarily used for illicit activities. However, these claims are far from the truth. Bitcoin has a well-established history as a medium of exchange and a means of making global payments without the need for banks or payment processors as intermediaries. Moreover, it has gained traction as an inflation-resistant store of value, similar to gold, among institutional investors. Since its inception, the value of Bitcoin has experienced a <a href="https://coinstash.com.au/buy/BTC" rel="noopener noreferrer" target="_blank">highly appreciative growth trajectory</a>. Many of its proponents advocate for Bitcoin as ‘Digital Gold’ due to its similar characteristics, namely its scarce supply and durability. A growing list of prominent funds and publicly traded companies, such as Tesla, Square, and MicroStrategy, have invested millions or even billions of dollars in Bitcoin as a strategic asset management approach in recent years. Moreover, <a href="https://www.npr.org/2021/09/07/1034838909/bitcoin-el-salvador-legal-tender-official-currency-cryptocurrency" rel="noopener noreferrer" target="_blank">small countries such as El Salvador have even made Bitcoin legal tender.&nbsp;</a> While it's true that some individuals misuse Bitcoin, its illicit use pales in comparison to that of the US dollar.&nbsp;A recent report by Chainalysis shows that <a href="https://blog.chainalysis.com/reports/2022-crypto-crime-report-introduction/" rel="noopener noreferrer" target="_blank">illicit activity accounted for only 2.1% of Bitcoin transactions in 2019</a>. Furthermore, since all Bitcoin transactions occur on a transparent blockchain, tracking illicit activities is often easier for authorities compared to the traditional financial system. Recommended Reading: <a href="https://coinstash.com.au/blog/what-is-bitcoin-btc" rel="noopener noreferrer" target="_blank">What is Bitcoin (BTC)? A Beginner’s Guide</a><h3>Myth #3: Bitcoin Doesn’t Have Real Value</h3>Critics argue that Bitcoin lacks intrinsic value as it is not backed by a physical asset like gold. However, the same case could be made for the US dollar or virtually any other modern fiat currency.&nbsp; Bitcoin's value is derived from its unique properties, such as decentralisation, security, and digital scarcity. Bitcoin is hard-coded to be scarce, with a 21 million coin supply hard-cap, which helps make it resistant to inflation. Unlike fiat currencies, which can be printed infinitely at the whim of their governments and banks. Not only is the supply capped, but the amount of new Bitcoin being mined is declining over time in a predictable way. The issuance rate is cut in half approximately every four years, in an event known as ‘the halving’. This deflationary supply schedule has worked to keep the price of Bitcoin broadly trending upwards over the long-term since its creation. For a more in-depth view, read our article: <a href="https://coinstash.com.au/blog/buy-bitcoin-btc-australia" rel="noopener noreferrer" target="_blank">How to Buy Bitcoin (BTC) Easily in Australia</a><h3>Myth #4: Bitcoin will be Replaced by a Competitor</h3>Bitcoin stands as the world’s first and most widely recognised cryptocurrency. While thousands of cryptocurrencies have emerged with the promise of replacing Bitcoin with innovative new features or advantages, none have succeeded in dethroning the king. But why? Bitcoin's first-mover advantage and extensive network effect make it highly resilient against being replaced in the near future. It remains the most valuable cryptocurrency by market cap and enjoys widespread popularity, accounting for around <a href="https://coinmarketcap.com/" rel="noopener noreferrer" target="_blank">45% of the entire crypto market</a>, at the time of writing. Indeed, it's nearly impossible to replicate the unique circumstances surrounding Bitcoin's creation, its story, and distinctive features. While it's possible that other digital assets may expand their market share relative to Bitcoin and potentially overtake it, developing a superior version of Bitcoin that retains its one-of-a-kind features as a digital store of value seems highly unlikely in the near future. Recommended Reading: <a href="https://coinstash.com.au/blog/bitcoin-dominance-explained" rel="noopener noreferrer" target="_blank">Bitcoin Dominance Explained</a><h3>Myth #5: Bitcoin is Bad for the Environment</h3>Environmental sustainability has been a key topic in the ongoing debates over Bitcoin (BTC) mining, with many critics questioning the energy consumption of the biggest cryptocurrency in the world. However, recent research has indicated that the reality is very different from the perception shared by the media. A considerable portion of Bitcoin's Proof of Work (POW) relies on renewable energy sources, such as wind, hydro, and solar power. Recent research has shown that the Bitcoin mining industry uses <a href="https://bitcoinminingcouncil.com/bitcoin-mining-council-survey-confirms-year-on-year-improvements-in-sustainable-power-mix-and-technological-efficiency-in-q4-2022/" rel="noopener noreferrer" target="_blank">58.9% sustainable energy in its operations.</a>&nbsp; It can even be argued that the economic incentives intrinsic to Bitcoin mining are driving sustainable energy innovation, as miners constantly strive to boost profits by reducing electricity expenses—in a world where renewable energy is swiftly becoming the most cost-effective option. The industry is increasingly seeking greener energy sources and more efficient crypto mining methods. Bitcoins energy consumption and carbon footprint cannot be examined in a vacuum. It's important to consider Bitcoin's relative energy consumption against the industries with which it is competing, like the traditional financial systems and gold. <a href="https://ark-invest.com/search-tags/blockchain/" rel="noopener noreferrer" target="_blank">Research by New York-based Ark Investment Management</a> reveals that "Bitcoin is much more efficient than traditional banking and gold mining on a global scale."<h2>Top 5 Crypto Myths and Misconceptions</h2><h3>Myth #1: Cryptocurrencies are Only Used for Illicit and Criminal Activities</h3>One long-standing and widespread myth surrounding digital currencies is their association with illegal activities. The perceived anonymity and decentralised nature of crypto have given rise to concerns that they facilitate criminal activity. However, neither blockchain nor cryptocurrencies are inherently illicit, just as fiat currencies aren't inherently illicit despite sometimes being used for illegal purposes. All monetary assets and technologies, including cash, the internet, social media, and mobile phones, have the capacity to be used for both good and bad purposes. In reality, the majority of crypto transactions are carried out for legitimate and legal purposes. In fact, according to Chainalysis—a company that assists investigators in cryptocurrency crimes with blockchain data analysis— in 2022, a mere <a href="https://blog.chainalysis.com/reports/2023-crypto-crime-report-introduction/" rel="noopener noreferrer" target="_blank">0.24% of all cryptocurrency transaction volume was linked to illicit activities.</a><h3>Myth #2: Digital Currencies Are a Scam</h3>Cryptocurrencies have gained acceptance as a valid means of exchange among many retailers and merchants. Individuals are using them for personal transactions, and governments are working on ways to regulate them. Most cryptocurrencies do not have programming, code, or malicious intent designed to swindle money from users. However, scams do exist in the cryptocurrency world, as they do in any other financial investment area. These scams are less about the assets themselves and more about the individuals involved – the deceitful fraudster and the unsuspecting victim. For instance, <a href="https://coinstash.com.au/blog/common-crypto-scams" rel="noopener noreferrer" target="_blank">social media giveaways, phishing, romance scams and ICO rug pulls</a> have become increasingly popular.&nbsp; Despite the presence of scams, the vast majority of cryptocurrency transactions are legitimate, and regulatory enforcement continues to evolve to protect users and consumers. It's essential to remember that the potential for scams in the crypto world is not a reflection of the nature of cryptocurrencies themselves but rather the actions of malicious individuals exploiting the system. For a more in-depth view, read our article: <a href="https://coinstash.com.au/blog/common-crypto-scams" rel="noopener noreferrer" target="_blank">5 Common Crypto Scams and How to Avoid Them</a><h3>Myth #3: Cryptocurrencies aren’t Secure</h3>Cryptocurrencies are built on the foundation of blockchain technology, a distributed database secured with advanced encryption techniques. As transactions occur, they are added to the blockchain, which consists of a series of connected blocks. A network of automated systems validates the transaction data, making it extremely difficult to change the information and "steal" cryptocurrency. The real vulnerability lies in how cryptocurrency is accessed and stored, such as in cryptocurrency wallets or centralised exchanges that facilitate transactions. While sending cryptocurrency between users is secure, the platforms and software used to store and access it can be hacked or tampered with. Hence, it's crucial to choose a reliable and trusted cryptocurrency exchange like <a href="https://coinstash.com.au/" rel="noopener noreferrer" target="_blank">Coinstash</a>. Recommended Reading: <a href="https://coinstash.com.au/blog/crypto-dollar-cost-averaging-dca" rel="noopener noreferrer" target="_blank">Crypto Dollar Cost Averaging Explained</a><h3>Myth #4: Cryptocurrencies are mainly used for speculative gambling</h3>Cryptocurrencies like Bitcoin have experienced significant price volatility over the last decade, which has led some critics to label them as purely speculative assets. However, this volatility is a natural feature of new and emerging markets rather than a flaw in the crypto market. As an asset class, cryptocurrencies are still in their early stages of rapid growth, with many cryptocurrency assets being relatively young and still in the process of price discovery. This means that the market is working to determine their fair value, which can lead to price fluctuations. While certain aspects of thecrypto ecosystem are used for speculation, much of the underlying technology is reshaping the financial system as we know it. Cryptocurrencies enable various types of payments for goods and services, including micropayments, peer-to-peer transactions and cross-border payments. Projects like <a href="https://coinstash.com.au/buy/ETH" rel="noopener noreferrer" target="_blank">Ethereum (ETH)</a>, <a href="https://coinstash.com.au/buy/sol" rel="noopener noreferrer" target="_blank">Solana (SOL)</a> and <a href="https://coinstash.com.au/buy/bnb" rel="noopener noreferrer" target="_blank">Binance (BNB)</a> also support use cases such as lending, yield generation, and the buying and selling of non-fungible tokens (NFTs). By providing basic financial services to unbanked or underbanked individuals, cryptocurrencies can be a powerful force for financial inclusion and equity. Recommended Reading: <a href="https://coinstash.com.au/blog/crypto-volatility-explained" rel="noopener noreferrer" target="_blank">Crypto Market Volatility Explained</a><h3>Myth #5: Cryptocurrencies are a passing Fad</h3>There was a time when computers, the internet, and email were mere curiosities for tech enthusiasts. Fast forward to today, and they've become indispensable in our daily lives, both personally and professionally. The next few decades for cryptocurrencies might be hard to predict, but the impact of the technology they've introduced is undeniable. In fact, <a href="https://www.stuff.co.nz/business/opinion-analysis/300523741/cryptocurrency-adoption-outpaces-the-early-internet" rel="noopener noreferrer" target="_blank">the adoption of cryptocurrency has outpaced even the internet</a>, which was previously the fastest-adopted technology in history. Far from being a fleeting trend, Bitcoin and the broader crypto space have not only survived but thrived for 14 years, establishing formidable network effects. While it remains to be seen if cryptocurrencies will completely replace traditional currencies, their ongoing evolution is evident. The emergence of DeFi applications, NFTs, stablecoins, and regulatory advancements all signal a promising future for the world of cryptocurrencies.<h2>Invest in over 1,000+ Cryptocurrencies with Coinstash</h2>As one of Australia's leading cryptocurrency platforms, we understand the power of crypto and its role in shaping the digital age. And with our user-friendly exchange, it's easier than ever to get started. So why not explore the exciting world of crypto with Coinstash today? With our feature-packed app and industry-leading security practices, you can start diversifying your portfolio today. Simply sign up to buy, sell, and trade over 1,000+ digital assets in minutes. <a href="https://coinstash.com.au/auth/signup" rel="noopener noreferrer" target="_blank">Click here to sign up for FREE!</a> <h2>FAQs</h2>

Common Bitcoin and Crypto Myths Debunked

Cryptocurrency market capitalisation is a valuable metric used to gauge the size and popularity of a cryptocurrency, and evaluate its value in the market. Understanding market capitalisation, how it's calculated, and the difference between small, medium, and large cap cryptocurrencies is essential for crypto traders and investors to make more informed decisions about their investments. Read on to get the details.&nbsp;<h2>What is Crypto Market Cap?</h2>Crypto market capitalisation, often referred to as “market cap”, is a measure of the total value of all the coins or tokens in circulation. It is a commonly used metric for traders and investors to assess the overall value of a cryptocurrency and its potential for growth. <h2>How is Market Cap calculated?&nbsp;</h2>Market Cap is calculated by multiplying the current market price of an asset by the number of coins or tokens in circulation.&nbsp; Current Price X Circulating Supply = Market Cap Using Bitcoin as an example:US$21,728 (Current Price) X 19,290,231 (Current Circulating Supply) = US$419,154,410,350 (Market Cap), at the time of writing. This can also be referred to as the total value of all Bitcoins.&nbsp; Thankfully, websites like <a href="https://coinmarketcap.com/" rel="noopener noreferrer" target="_blank">CoinMarketCap</a> and <a href="https://www.coingecko.com/" rel="noopener noreferrer" target="_blank">CoinGecko</a> list all the crypto market caps in real time, so you don’t have to crunch the numbers yourself.&nbsp; Market cap can also be applied to measure the total capitalisations of all cryptocurrencies in existence. The total crypto market cap is currently over <a href="https://coinmarketcap.com/charts/" rel="noopener noreferrer" target="_blank">US$1.1 trillion</a> as crypto adoption continues to grow.&nbsp;<h2>Why is Market Cap important?</h2>Price is just one way of measuring a cryptocurrencies worth, but it can be misleading, especially for new investors. Market Cap paints a more complete picture and is a more comprehensive measure of value as it helps illustrate how the world values a particular cryptocurrency and compares its dominance in relation to competing crypto assets. This metric helps traders and investors make inferences about the risk profile of a coin and its potential for long-term growth. Let’s look at an example of two fictional cryptocurrencies to demonstrate:-If Crypto A is worth $1 per coin and has 500,000 coins in circulation, it’s market cap is $500,000- If Crypto B is worth $2 per coin and has $100,000 coins in circulation, it’s market cap is $200,000&nbsp;-As you can see, even though a single coin of cryptocurrency B may be worth more than one of Cryptocurrency A, Cryptocurrency A’s market capitilisation is over double its competitor.&nbsp;<h2>Crypto classification by Market Cap</h2>Cryptocurrencies are generally classified into three main classes based on their market cap:<h3>Small-cap</h3>Small-cap cryptocurrencies tend to have market caps under US$1 billion. These assets are considered to carry the highest levels of risk and can be highly volatile, as they usually have less exchange support and lower volume. Many new cryptocurrency projects - such as <a href="https://coinstash.com.au/buy/IMX" rel="noopener noreferrer" target="_blank">IMX</a>, <a href="https://coinstash.com.au/buy/SNX" rel="noopener noreferrer" target="_blank">SNX</a> and <a href="https://coinstash.com.au/buy/CHZ" rel="noopener noreferrer" target="_blank">CHZ</a> - fall into this category<h3>Medium-cap</h3>Medium-cap cryptocurrencies range between US$1 billion to US$10 billion in market cap. These cryptocurrencies are generally considered less risky than small-cap assets, but still offer potential for growth and high reward. Medium-cap cryptocurrency examples include <a href="https://coinstash.com.au/buy/AVAX" rel="noopener noreferrer" target="_blank">AVAX</a>, <a href="https://coinstash.com.au/buy/LINK" rel="noopener noreferrer" target="_blank">LINK</a> and <a href="https://coinstash.com.au/buy/XLM" rel="noopener noreferrer" target="_blank">XLM</a>.&nbsp;<h3>Large-cap</h3>Assets with market caps greater than US$10 billion are considered large-cap cryptocurrencies. They are generally regarded as lower-risk investments since they have been well established in the market. Large-cap cryptocurrencies include some of the most well-known cryptocurrencies like <a href="https://coinstash.com.au/buy/BTC" rel="noopener noreferrer" target="_blank">Bitcoin</a>, <a href="https://coinstash.com.au/buy/ETH" rel="noopener noreferrer" target="_blank">Ethereum</a> and <a href="https://coinstash.com.au/buy/XRP" rel="noopener noreferrer" target="_blank">XRP</a>.&nbsp;<h2>Investment Considerations</h2>While market cap is a valuable metric, it shouldn’t be used in isolation when evaluating the potential of a cryptocurrency. There are many factors that need to be taken into consideration when doing your research to make a more informed investment decision. Some of these include: -Fully diluted value-Trading volume and liquidity-Utility/use-case of a project-Community and team behind it-The white paper and future road map<h2>How to invest in Crypto with Coinstash</h2>Want to start crypto investing but not sure how? The easiest way to start your crypto investment journey is with an online exchange like Coinstash. With low fees, low spreads and a feature-packed app, Coinstash makes it simple and safe to buy, sell and hold crypto in Australia. Not yet a client? <a href="https://coinstash.com.au/auth/signup" rel="noopener noreferrer" target="_blank">Click here to sign up for FREE!</a>

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<h2>A Simple Way to Invest in Australia’s Top Crypto Projects</h2>Brisbane, Australia – September 5, 2023 – Coinstash, one of Australia's most trusted cryptocurrency exchanges, is thrilled to unveil the Aussie Bundle, the latest innovation in its Bundle feature lineup. This first of its kind investment package offers users the opportunity to easily invest in top-tier crypto projects that are proudly Australian. The Aussie Bundle is a collaborative effort between Coinstash and Investified, a leading crypto education platform in Australia.<h2>About the Aussie Bundle</h2>The Aussie Bundle was designed to offer Australian investors a simple way to invest in and support the best of the Australian crypto industry. It comprises a curated mix of coins that have been developed by Australian teams and projects. With heavyweights from the Gaming realm, Decentralised Finance (DeFi), and the burgeoning Metaverse included, the Aussie Bundle serves as a one-stop solution for investors seeking diversified yet focused exposure to Australia's most promising crypto ventures.<h2>The Best of Australia</h2>Fueled by a joint ambition to amplify Australia's significant contributions to the global crypto ecosystem, Coinstash and Investified collaborated to bring the Aussie Bundle to life. "Creating this bundle is a reflection of our shared belief in Australia's burgeoning crypto sector and its global impact. Together, we wanted to provide investors from our communities and beyond with a simple one-click solution to get exposure to the very best of the Australian crypto industry", expressed Grant Collins, CMO of Coinstash.<h2>How the Aussie Bundle Works</h2>Investing in the Aussie Bundle is simple. Available exclusively on Coinstash’s user-friendly app and platform, users can invest in the Aussie Bundle with AUD in one simple transaction. Once purchased, each asset within the Bundle is equally allocated to your portfolio, saving you the time and energy of buying each coin individually. One click, multiple investments - it's that simple.&nbsp;<h3>About Coinstash&nbsp;</h3>Coinstash is one of the most well established and trusted cryptocurrency exchange platforms in Australia, with over 25,000 registered clients. Founded in 2017, Coinstash is proudly Australian owned and operated, and AUSTRAC registered.&nbsp; With support for the most assets in Australia, Coinstash makes it simple and safe to buy, sell, earn, and trade over 1,000+ cryptocurrencies. With competitive fees, low spreads, and a feature-packed app, Coinstash is the go-to platform for all your crypto needs in Australia. For more information, please visit <a href="https://www.coinstash.com.au/" rel="noopener noreferrer" target="_blank">https://www.coinstash.com.au</a>.&nbsp; <h3>About Investified</h3>Investified is a leading player in the Australian cryptocurrency and stock education space. Co-founder of Investified, Zac Povolny, shared his delight about co-creating the Aussie Bundle, saying “We’re excited to create a bundle that represents the best Australia has to offer in the crypto arena. Despite often being overlooked, the Australian crypto sector is a significant global force, home to several world-renowned projects, and we're delighted to work with Coinstash to give investors an easy way of getting exposure to it." For additional information, please visit <a href="https://investified.com.au/" rel="noopener noreferrer" target="_blank">investified.com.au</a>. <h3>Media Contact:</h3>Chris GrahamGrowth Marketing Manager, Coinstashchris.g@coinstash.com.au

Coinstash Launches the ‘Aussie Bundle’ in Collaboration with Investified

We’re excited to share our new collection of backgrounds and wallpapers, exclusively crafted for the Coinstash Community.This collection features both desktop and mobile backgrounds, inspired by the colours of our newly updated brand.Choose your top picks from the collection below.Give them a try and snap a photo of your fresh new background in action. Tag us and include #CoinstashColours in your post. We're eager to see how you display your colors!<h2>Wallpaper Download Links </h2>

Coinstash Logo Wallpaper Purple Background with Laptop and Mobile View

Coinstash Purple Wallpaper: <a href="https://drive.google.com/file/d/1MMBTqPcuDOhqY63bDibW9N-mGjYqVx6_/view?usp=sharing" rel="noopener noreferrer" target="_blank" style="font-size: 16px;">DESKTOP</a> | <a href="https://drive.google.com/file/d/12r8ZoEO98q6B4xkNsWHBomRlsjttNI_r/view?usp=sharing" rel="noopener noreferrer" target="_blank" style="font-size: 16px;">MOBILE</a>

Coinstash Logo Wallpaper White Background with Laptop and Mobile View

Coinstash White Wallpaper: <a href="https://drive.google.com/file/d/1vVnIhJxyP4hC-W6J9LV9CCrZEdtdKfNV/view?usp=sharing" rel="noopener noreferrer" target="_blank" style="font-size: 16px;">DESKTOP</a> | <a href="https://drive.google.com/file/d/1DxPDtPtgm7djMFqxlITwb5whSomXFBRB/view?usp=sharing" rel="noopener noreferrer" target="_blank" style="font-size: 16px;">MOBILE</a>

Coinstash Logo Wallpaper Grey Background with Laptop and Mobile View

Coinstash Grey Wallpaper: <a href="https://drive.google.com/file/d/16oM6Fy9SmsulOSxKpmKBiv-c-40lF7T-/view?usp=sharing" rel="noopener noreferrer" target="_blank" style="font-size: 16px;">DESKTOP</a> | <a href="https://drive.google.com/file/d/11pad4aB8Efx_j2ef3jdYgBXIHXa6B2TS/view?usp=sharing" rel="noopener noreferrer" target="_blank" style="font-size: 16px;">MOBILE</a>

Coinstash Logo Wallpaper Black Background with Laptop and Mobile View

Coinstash Black Wallpaper: <a href="https://drive.google.com/file/d/1Tw7piANPqX0g5NTebK2Cp8-vAfUiM4sE/view?usp=sharing" rel="noopener noreferrer" target="_blank" style="font-size: 16px;">DESKTOP</a> | <a href="https://drive.google.com/file/d/1GaJdO5APUjoobY2nCz7Bmuz3dK1azSha/view?usp=sharing" rel="noopener noreferrer" target="_blank" style="font-size: 16px;">MOBILE</a>

New Branded Backgrounds for the Coinstash Community

Today we are excited to reveal the official brand refresh of Coinstash. We've upgraded the Coinstash you've come to know and trust, with a revitalised look, an enhanced web app, and an even more intuitive mobile experience, all designed to reflect our evolving vision and mission.&nbsp;<h2>Why Refresh the Coinstash Brand?&nbsp;</h2>The Coinstash journey began in 2017, when the cryptocurrency industry was in its infancy. Bitcoin was still emerging, Ethereum was taking its first steps, and many other blockchain concepts were just budding concepts on white papers. However, the revolutionary potential of blockchain technology was evident.&nbsp; Inspired by this potential, we saw an opportunity to provide the Australian market with a user-friendly platform to easily access and exchange their cryptocurrencies. Our mission was clear - to bridge the gap between traditional finance and the burgeoning world of cryptocurrencies. Fast forward to today, and Coinstash has made significant progress. Serving over 25,000 users, raising two successful crowd-sourced funding rounds, acquiring an AFS licensee company, and gaining numerous accolades, we've become one of Australia's foremost and most trusted crypto exchanges. But we aren't resting on our laurels. The crypto landscape has grown and changed immensely in a few short years. We've witnessed major crypto market swings, Bitcoin's (BTC) historic peak at US$69,000, the rise of Stablecoins, Decentralised Finance (DeFi), Non-Fungible Tokens (NFTs) and the Web3 space.&nbsp; As the industry evolves and matures, we embrace the need to adapt and grow alongside it. We are witnessing an exciting shift in the crypto space, with more seasoned traders and investors entering the market from traditional finance, demanding a higher degree of proficiency and trustworthiness from their chosen crypto trading platforms. Built by investors, for investors, Coinstash is more than just a crypto exchange - we are a community with a shared belief in the power of crypto to change the world. Together, we strive to empower investors to unlock the potential value of crypto to build a new, better financial future for all. To meet these shifting market dynamics, we've embarked on a strategic brand rejuvenation. This includes modernising our brand assets to resonate with our forward-looking vision and better reflect the aspirations and needs of our increasingly sophisticated clientele. This brand evolution is our commitment to meet and exceed the demands of the rapidly changing crypto industry, now and in the future.<h2>What’s Next for Coinstash?</h2>The launch of our refreshed brand is an important milestone, but it's just the beginning of an ambitious journey. This revamp is the first of many strategic steps in our product roadmap, charting the course towards delivering the best crypto investing experience possible. Coinstash will continue to launch the next generation of crypto trading and investing products. In the coming months, you can expect a host of new innovative offerings, including Coinstash Private, Automations, Derivatives and more, designed to take your crypto investing to the next-level.&nbsp; So, welcome to the new era of Coinstash. We are excited for you to join us on our journey. Together, let's build the future of crypto. The Coinstash Team

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