Health, Wealth, and Happiness |
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| "The key to making money is to stay invested." - Suze Orman |
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| Howdy investors!
Today, we bring you our updated list of the top crypto reward credit cards in 2023. Rewards, benefits, fees... we give you all the info you need to make the right decision.
And, for our Premium members, we're dropping a new Risk Scorecard -- this time looking at Stellar (XLM).
In the news we bring you an interesting piece from the WSJ that looks at Fidelity's "Crypto Mafia" and what it might mean for the crypto ecosystem. There are also updates on the performance of Paypal's new PYUSD stablecoin and the latest suggested crypto tax reporting rules from Washington.
And now let's jump into everything! |
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Best Bitcoin and Crypto Reward Credit Cards 2023 by Matthew Du |
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| Investor Takeaway: Nearly everyone uses a credit card. It's just a fact of modern life. So, why not get rewarded with crypto for carrying a piece of plastic and using it for everyday purchases? With the right crypto credit card, you can streamline crypto acquisition and get solid deals on cash back rewards and fees, all in a single package.
Crypto credit cards are the new frontier of payments, built on crypto funding and finance. They look like a typical credit card and act like a typical credit card, meaning you can often use them anywhere Visa, Mastercard, or Amex are accepted.
In our newest article, we’ve rated and reviewed what we're seeing as the best crypto credit cards in the market in 2023.
Read on for our top picks >> |
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| Premium Power-Ups Level up your crypto investing game. |
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| New Blockchain Risk Scorecard: Stellar (XLM)
Our Blockchain Risk Scorecards are a way for us to highlight top blockchain projects while providing our readers with high-quality due diligence.
Today, we're shining the spotlight on Stellar.
Stellar (XLM) is a decentralized blockchain platform focused on low-cost money transfers and financial inclusion. Thanks to its Federated Byzantine Agreement (FBA) algorithm, the Stellar network is capable of faster transaction speeds at a much lower cost than rival blockchain networks. Stellar can be used for cross-border transactions involving both fiat and cryptocurrencies.
But is XLM a safe investment?
Premium members: Click here to view the Stellar (XLM) Risk Scorecard.
(Not a Premium member? Sign up today to access our complete library of webinars, crypto scorecards, token analytics, and other member-exclusive content.) |
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| | | Must Read Today's most important stories for crypto investors. |
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| Investor takeaway: Fidelity Investments, a traditional financial giant, has been a key player in the crypto industry since 2014. Despite regulatory challenges and market volatility, the company remains committed to digital assets. It has built a robust talent pipeline, many of whom have become industry leaders.
Fidelity's President of crypto operations Tom Jessop said, “We are now working with every business unit of Fidelity on what I would call long-term digital-asset strategy.” This can only mean more stability and growth in the crypto sector, helping to build a depth of experience and talent in traditional finance. |
| Investor takeaway: Despite its backing by PayPal and a scheduled listing on Coinbase, the Paxos-issued stablecoin PYUSD needs help to gain adoption. PYUSD has underperformed competing stablecoins, with 90% of its circulating supply held by Paxos. In contrast, newer decentralized stablecoins like GHO and crvUSD have seen faster adoption rates.
Aave founder Stani Kulechov emphasized the importance of finding real-world use cases, stating, “DeFi have solved the supply side – how do you generate demand? How do you provide consumption is the more interesting problem.” This highlights the challenges even well-backed centralized stablecoins face in gaining market traction: pushing great proof-of-concept narratives to demonstrate crypto viability. |
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| Investor takeaway: The Biden administration is pushing new rules from the Department of Treasury that would change how brokers, exchanges, and processors report information on user sales of digital assets. The rule is expected to be effective for the 2026 tax filing season and aims to bring in nearly $28 billion in tax revenue over a decade.
According to the Treasury Department, "This is part of a broader effort at Treasury to close the tax gap, address the tax evasion risks posed by digital assets, and help ensure that everyone plays by the same set of rules." We're keeping an eye on these regulations, but transparency and fairness in oversight can only help legitimize crypto as an asset. |
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| Investor takeaway: In the volatile world of cryptocurrency, technical analysis can be a game-changer for investors. Here, we get some clarity on the importance of understanding various factors that impact crypto prices, such as supply and demand, regulatory changes, and underlying technology.
The investor takeaway? Learn the skills to do your own research accurately and effectively. Understanding these technical indicators and trends can help investors optimize their portfolio performance. |
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| | | Long-Term Wealth $1K invested at today's market prices |
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| This asset | invested 5 years ago | is now worth | | Bitcoin (BTC) | $1,000 | $4,090 | | Ethereum (ETH) | $1,000 | $3,801 | | Uniswap (UNI)* | $1,000 | $823 | | BNB Chain (BNB) | $1,000 | $15,854 |
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| Note: The future may look different from the past. Please invest carefully. * As UNI is less than five years old, we calculate from the launch date (Sep 2020). |
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| | ICYMI In Case You Missed It |
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| 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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