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Health, Wealth, and Happiness

October 18, 2023

“Wall Street sells stocks and bonds, but what it really peddles is hope.”

- Jason Zweig

Howdy, investors!

Almost everyone looking to buy or sell crypto needs an exchange. However, not all exchanges are created equal. We've rated and reviewed the best for 2024 with our latest piece on the Best Centralized Cryptocurrency Exchanges.

Next, a recent report highlights the significant interplay of stablecoins with the broader cryptocurrency market, and what that means about the demand for US dollars. Do more stablecoins = more stability for crypto?

Finally... were you aware that one of the fattest BTC whales is none other than the U.S. government? This means the U.S. is capable of impacting bitcoin’s supply dynamics, which could influence market behavior and investment considerations.

Read on to explore more!

Best Centralized Cryptocurrency Exchanges, Rated and Reviewed for 2024

by Matthew Du

Investor Takeaway: Chances are, if you’re investing in crypto, you’ll use an exchange. It’s crucial to pick one that fits your investing goals. Our rating critera are security, transparency, and accountability. Here are our top picks, as judged by Bitcoin Market Journal editors and readers.

Exchanges are the beating heart of the crypto market. Through them, cryptocurrencies and tokens flow in and out across different networks, moving and transforming as investors buy and sell their assets.

This article covers these essential institutions, providing a list of the top centralized cryptocurrency exchanges recommended by our editors.

• Binance US and Binance are noted for their extensive features and low fees, suitable for long-term investors and those seeking automatic recurring purchases.
• Coinbase is highlighted for its user-friendly interface, which makes it suitable for beginners but has relatively high fees.
• HitBTC is recommended for experienced traders looking to build extensive portfolios due to its wide asset variety.

Read on to reveal the complete list of Best Crypto Exchanges >>

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New Blockchain Risk Scorecard: US Dollar Coin (USDC)

Stablecoins are widely believed to be the safest crypto investments in the industry, and USDC stands tall as one of the largest and most reputable.

USDC was initially launched as an ERC-20 token in 2018 by Centre, a consortium co-founded by Circle and Coinbase. Today, it's a massive success, with a market cap exceeding $25 billion.

But how safe is USDC? Now that Coinbase has handed over control of USDC to Circle, is it a sure bet for investors? Our new Blockchain Risk Scorecard digs deep into USDC to give it a 1-5 star risk rating (lower = better).

Premium Members can download the USDC Risk Scorecard here and see where USDC sits regarding investor risk.

Not a Premium Member? Sign up today to get access to our ongoing portfolio updates, investor scorecards, and VIP events.

Stay stable and stay safe!

Must Read

Today's most important stories for crypto investors.

The Relentless Rise of Stablecoins (Brevan Howard)

Investor takeaway: This report illuminates the pervasive global demand for US dollars, a trend prominently echoed in worldwide trade and cryptocurrency, where the dollar chiefly anchors stablecoins.

This analysis echoes the crucial role of stablecoins in the digital asset space: "The vast majority of non-speculative activity uses fiat-backed stablecoins." The opportunity is to invest in the companies or projects backing quality stablecoins.

Federal Reserve Governor Throws Cold Water on Future CBDC (The Block)

Investor takeaway: Federal Reserve Governor Michelle Bowman expressed skepticism regarding the unique benefits of a U.S. Central Bank Digital Currency (CBDC), highlighting that existing and upcoming services like FedNow could address issues such as payment friction and financial inclusion.

Bowman also conveyed reservations about stablecoins, citing potential risks to consumers and the broader banking system. For a useful counterpoint to the article above, this presents the government's point of view.

US Government Among Largest Bitcoin Hodlers with over $5B in BTC: Report (Cointelegraph)

Investor takeaway: The U.S. government has amassed a significant holding of over 200,000 Bitcoin (BTC), valued at over $5 billion, making it one of the largest BTC holders.

Note that these holdings, largely due to criminal seizures, are subject to legal proceeding before eventually being sold in public auctions -- meaning investors can keep their eyes peeled for bargain BTC offered at auction prices. SOLD!

Ethereum Staking Yields: How to Maximize Your ETH Returns

Now updated with the highest rates.

Crypto Hodlers Have Nothing to Fear from Friday the 13th

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What Is JPM Coin and How Do You Buy It?

JP Morgan's stablecoin isn't for sale, but $JPM stock is.

In Defense of Sam Bankman-Fried

Our hot take on SBF and FTX.

Top Blockchains With the Most Daily Active Developers (DADs)

This isn't your DAD's blockchain... but this is a dad joke.

Blockchain Basics

Explain Like I'm 5

What is DCA?

The Quick Guide for Crypto Investors

Click to learn.

Best Staking Rates

The best rates for DeFi staking this week.

Click here to see our current staking yields, updated weekly.

(Thanks to AsicMarketplacehk_ on Reddit.)

Bitcoin Market Journal is a daily newsletter that makes you a better crypto investor. It's created by John Hargrave, Steve Walters, Gerald Jackson, Anatol Antonovici, Matthew Du, Daniel Joel, and Preetam Kaushik.

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