Cryptocurrency could be a boon for sw va the lee daily register

Cryptocurrency, or “crypto” for short, is digital money, which is backed by a particular currency’s blockchain, with the most well established cryptocurrency being Bitcoin. Bitcoin made its debut a decade ago in the aftermath of the financial crisis of 2008. Bitcoin’s creator is unknown. The person or persons are known only by the name Satoshi Nakamoto. “Nakamoto” created the original cryptocurrency, known as Bitcoin, in response to the banking crisis of 2008, with the purpose of giving greater financial power to ordinary people.

While the cryptocurrency market is volatile, it’s important to keep in mind that trust is the only thing that backs any kind of currency today.

US dollars, pounds sterling, and euros: they are all backed by trust in the issuing body’s stability. In those cases it’s the government issuing the currency. The US dollar is the most popular global trade currency because the United States is the most stable currency issuing body on the planet. Conversely, the Chinese yuan is one of the least desirable currencies on Earth because the Chinese government manipulates the yuan’s value as a trade strategy.

Unlike traditional currencies, which rely on government trust or precious metals, cryptocurrencies rely on digital technology for their creation, use, and valuation. Crypto exists only as data on a decentralized, global computer network called a blockchain, and while cryptocurrency has long been an unregulated space, more regulations have been coming to the market, particularly from the Securities and Exchange Commission, which has passed several regulatory actions over the past year to weed out some of the bad actors in the cryptocurrency market.

When Bitcoin first debuted, each coin was worth about $0.05. Last December, each coin’s value had soared to almost $20k. There were lots of ups and downs between then, and Bitcoin’s value today is about $3.8k. Obviously, investing in cryptocurrency has great risks. But, in the investing world, great risk usually coincides with the potential for great returns. That is why Bitcoin is no longer the only crypto game in town. How Does Cryptocurrency Work?

WolfpackBOT saw an opportunity because of crypto’s volatility. Lots of folks shy away from crypto as a part of an investment portfolio because it is risky and because common understanding of it doesn’t yet exist. “Let emotions become involved and that’s a recipe for disaster,” Garrison told us, adding, “Our system takes the human element out of it by automating your trading according to our tested algorithms, which have been developed by a team of professional traders.”

The system allows you to buy and sell cryptocurrencies automatically, using an API (Application Programming Interface) key. This key connects WolfpackBOT to a user’s exchange account, where it trades automatically on behalf of the user. Beta tests for the software application are currently ongoing. Personally, Garrison said that the WolfpackBOT averaged about 100 trades per day running on his computer, but that some beta testers were reporting even higher numbers. “It depends on market conditions and Internet connection speed, but you could potentially get thousands of trades per day with our software.” The software is configured by default to never sell a position at a loss. Enter the Wolfcoin

To help fund the project and the company’s long-term ambitions, WolfpackBOT has also released their own cryptocurrency, Wolfcoin, which is backed by a Proof of Work Blockchain with a Masternode network. The blockchain successfully launched on December 21, 2018, and users can now download the Wolfcoin Wallet from the members area of wolfpackbot.com. Users who hold at least 10,000 Wolfcoin in a dedicated wallet with a static IP address are eligible for Masternode status, and will be eligible to earn 80 percent of the Wolfcoin block reward every 60 seconds. The reward will be paid in additional Wolfcoin, which can be used to pay for WolfpackBOT trading software subscriptions or traded on exchanges once Wolfcoin is listed after Quarter 1 of 2019 at the end of the crowdsale. Users can get Wolfcoin by pre-ordering WolfpackBOT software subscriptions during the company’s ongoing crowdsale. For those who mine Cryptocurrencies, Wolfcoin can also be mined, with the final Wolfcoin expected to be mined in 2068. WolfpackBOT is thinking about its long-term future. International Expertise

WolfpackBOT is an international start-up, with members working in the United States, Canada, Germany, the Netherlands, the Bahamas, and Bangladesh. Garrison got involved in cryptocurrency in the fall of 2017 when he quadrupled a small investment in three weeks investing in crypto. He was bitten by the crypto bug. “Lots of people were making money then. The market’s cooled now, but we are hopeful for a bull market in 2019,” Garrison said, optimistically. He began to study crypto and trading software, and he eventually was asked to join WolfpackBOT by its CEO Phil Longhurst, an engineer with a background as an account manager for major financial firms such as J.P. Morgan and MBNA Bank. Longhurst began applying his knowledge of stock market trading to the cryptocurrency market in 2016, and began forming the WolfpackBOT team and algorithms in late 2017.