Whats next for Zimbabwean Cryptocurrency investors and users ?

RBZ directive for banks to end their relationship with cryptocurrency exchanges in May 2018 turned on a panic mode in the market. Many investors tried to cash out their investment or transfer their digital assets to private wallets, but before the end of the given 60 days RBZ went on to ban the exchanges and freeze their bank accounts. Despite winning a court case by a local exchange, Banks are still holding on to investors money making trading impossible.

Bitcoin and Ethereum are the most popular cryptocurrencies in the world and millions of people trade thousands of other digital tokens daily. The largest exchange by volume is Binance which has a daily trading volume of $2 Billion from more than 5 million registered users, making about $3 million in profit per day. This is an exchange that was founded less than a year ago!

It's not the first time a government or central bank has banned a cryptocurrency exchange but it seems no one can successfully ban its trading since its not centrally controlled and transactions can not be easily tracked. China was one of the first countries to ban cryptocurrency and blockchain projects, and had to control its social media platforms like Weibo to stop showing cryptocurrency related ads. However, Chinese investors still trade cryptocurrency in overseas markets  using VPN, peer to peer trading and over-the-counter trade.

Zimbabwean largest exchange Golix had a monthly trading volume of $1 million according to techzim blog from 50 000 registered users according to newsday. Many of these investors were buying Bitcoin for trade, savings (many people no longer have confidence in banks and surrogate currency), remittances, trading tokens on international exchanges, purchasing ex-Japanese cars among other uses. It was a major source of income for many investors.

What's next for Cryptocurrency investors/users/traders in Zimbabwe?

Many people still want to use cryptocurrency to import Japanese cars since forex shortages still exist in Zimbabwe, trade tokens and coins on international exchanges and invest their income. There are other options to buy cryptocurrency although there are few options to cash out the investment (we will look at this in other posts)

One can buy Bitcoin or Ethereum through
1. A pre-funded MasterCard
2. Skrill or Paypal
3. Peer to peer trading
However, one needs to be careful when buying from an individual and use of escrow services is recommended.

How to identify undervalued coins Post-ICO

Investors who have highest Return of Investment (ROI) are those who participate in Initial Coin Offering (ICOs). The initial prices of tokens or coins are multiplied once they start to be traded on exchanges. However, majority of Cryptocurrency traders don't participate in ICOs and wait to buy coins when it's already 10, 20 or 50 times the intial coin offering price. 

Consider coins like Tron (TRX) and Ripple (XRP). TRX is now 90 times the ICO price and many investors, especially noobs are attracted at the peak of the coin price. In this post I will try to shed more light on how to identify undervalued coins and buy at the best price with highest swing trade profits.

Let's consider this:

1. Most of the coins are listed on exchanges a month upto 3 months after ICOs

2. There is no interest in the coin in the first days of listing 

3. Coins under $0.01 ICO price have the highest ROI of up to 50 times 

4. First day price drops by 30 to 70% in the first days

NB: Many coins on Binance and Kucoin are not pump and dump, they all appreciate beyond 10 cents or more 

How to identify potential coins 

1. Use coinschedule.com, icodrops.com, and icobench.com to find just ended ICOs

2. Check for coins under 10 cents 

3. Make sure the ICO target is at least 72% achieved. Low achievement might imply the implementations will never be achieved since there are no adequate funds to do that 

4. Check the ratings of the ICO

5. Follow the coins on social media like Reddit, Twitter, medium and bitcointalk.com

When coins are listed target a price that is four times to eight times the ICO prices

This blog will have a page for coins to watch after ICOs have just ended

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How to chose a $100 portfolio for January

Altcoins Prices for January will be usually lower than that of December and it's the best time to buy altcoins. Many people are still learning how to invest in altcoins and not prepared to invest a significant amount in cryptocurrency.

In this post I will highlight how to chose a  profitable US$100 portfolio which will gradually increase your  capital in both short term and long term. To chose the best portfolio, identify 

1. Cheap potential coins 

2. Industry that is likely to exponentially grow, for example, mobile industry, Internet business or technology 

3. Coins less than 20 cents or 30 cents. Always buy in cents and sell five times the price or sell in dollars. Coins in cents have a higher multiplier than coins in dollars or tens of dollars.

Bitcoin or Ethereum can grow at the same rate with Tron or Stellar Lumens.

My best $100 Binance Portfolio for January 2018 

$POE. @16 cents 

$TRX   @ 20 cents 

I will only chose 2 coins because $100 is not enough to diversify into more than 3 coins. Po.et is likely to explode in 2018 because digital products will increase, i.e. Ebooks, music, video content and internet based services. TRX rate of growth from 2 January is more than 1000% by now and the company is updating their website to English, an international language which is likely to increase use of its services 

My Best $100 Kucoin Portfolio 

$DENT @6 cents 

$QLink @

DENT is a mobile data service and the use of Internet will boom in the foreseeable future.

Disclaimer: this is not a financial advice but personal opinion based on my own research and analysis. I always encourage your to do your own research before committing any investment to a Cryptocurrency 

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PICK OF THE WEEK

Since 1 January many altcoins are performing above average. Ripple appreciated by nearly 88% since the beginning of the year and there seems to be support from institutions and banks which is likely to continue its rally. 

However, there are many other unpopular altcoins which are likely to multiply their value more than 30 to 50 times in 2018. My pick of the week is DENT 

Dent enables mobile users to buy, sell and donate mobile data. The price of the coin today opened at $0.04 from yesterday's $0.02, which is a double in 24 hours. There seems to be strong support on Kucoin exchange and signs that the hype will continue amid rumors the coin will also be listed on Qryptos platform. 

From a technical analysis, DENT is likely to end the week at 7 cents to 9 cents and a maintained volume of 380 BTC on Kucoin can push the prices beyond 10 cents sooner than expected. 

Total supply of DENT coin is 100 billion and they have a working product which is widely used in India and China. They now have a new iOS app for buying, selling and donating mobile data, which is likely to increase its user base thereby spiking the price of the token

Disclaimer: This is not a financial advice but personal opinion based on my Own technical and fundamental analysis. I encourage you to do your own research before making any investment in the coin

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Why Kucoin and Binance are best altcoin exchanges

Many Zimbabweans, like other Cryptocurrency investors are now into altcoin trading. Altcoins are more profitable than Bitcoin trade and they are cheap because most of these coins are still at developmental stage. To start trading you need to chose best exchanges like Binance and Kucoin.

 Binance 

Binance is a Chinese exchange and growing to challenge powerhouses like Bittrex and Coinbase. Recently, Binance overtook Bittrex in terms of traded volumes which is a sign that many investors are now choosing Binance over other exchanges. There are many advantages of using this exchange 

1. They have a user friendly mobile app for Android, iOS and a Windows PC client. Even if you can't download from play store or AppStore , they provide apk and api files for download out of the market 

2. High values implies a smooth and a profitable trade. 

3. You can start trading before ID verification and withdraw upto 2 BTC per day

4. Charts and Depth helps you to make decision when trading 

5. Mobile friendly order book 

6. Estimated value of your portfolio in USD and BTC terms 

7. Low fees when using BNB to trade alts 

8. Solid coins which are not pump and dump coins 

9. Support 

The only downsides I know is high withdrawal fee and not allowing fractions trading for many alts

Register Binance here 

Kucoin

Kucoin has own advantages over other exchanges 

1. No ID verification, just a 2FA to start trading and withdrawals 

2. Unique solid altcoins 

3. No pump and dumps 

4. User friendly mobile app

5. Support 

6 low trading fees when using KCS coin

7. Monthly dividends for holding KCS coin

8. Cheapest withdrawal fees 

9. News for new listings and updates 

10. Charts and Depth easily accessible 

Downside is ; a transaction needs 12 confirmations when depositing, which delays the process by at least 2 hours. 

You can register Kucoin here 

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How to buy Bitcoin in Zimbabwe

Zimbabwe is a complicated market for bitcoin because the currency is distorted by premiums charged on bonded notes and bank balances to get actual United States Dollars. This results in a currency premeum , not price premeum on the Bitcoin.

There is only one known exchange in Zimbabwe, which is Golix where bitcoins are readily available although at a steep price. Prices are usually 60% above the international prices and do not instantly adjust to world price changes.  I will highlight in pictures

To register on golix exchange,
1 visit www.golix.com
This page will show up after connection

2. Sign up and verify your email and phone number

Use your email to sign up

3. Deposit your account using Ecocash or Local Bank Account

4. Place a buy order that match ask prices

5. When prices match your golix Bitcoin wallet is credited with Bitcoin