Dacxi Blog

This week Elon Musk announced that Tesla was purchasing $1.5bn worth of bitcoin, and intends to accept bitcoin as a form of payment. The market reacted rapturously, flying to an all-time high over $48,200 appreciating a jaw-dropping 20% in one day, a record single-day dollar growth. What this news means for the crypto industry more broadly, cannot be underestimated. It is praise indeed that one of the world’s richest men backs crypto, particularly one whose business ethos is to be a renegade thinker pushing the boundaries of mankind itself! Whilst there is much talk of reaching a long awaited “tipping point”, this over-simplifies the significance of the events of the last few days. Of course, Musk’s praise of bitcoin has attracted much attention in the traditional media, who have long been hostile to crypto, limiting their commentary to the two main themes of “scam” or “fad”. The rally now seems to be indicative that crypto is held to be a mainstream asset; indeed, bitcoin now has a ...

Dacxi is the pioneer in building a brand new niche called Crypto Wealth . You will hear me and the Dacxi Team talk about Crypto Wealth a lot and one of the most commonly asked questions I get is a request to define it exactly what it is. So here goes . Crypto Wealth is an exciting new niche in the Wealth industry, built on the principle of crypto as a highly investable asset class. By 2030, the global Crypto Wealth market is expected to be worth a staggering $10trillion. And at Dacxi, we believe everyday investors should have the opportunity to get their own slice of that multi-trillion-dollar pie. What is a Crypto Wealth investment? Traditional wealth investments include equities, bonds, cash, commodities, and property. Crypto Wealth investments are different. They’re part of the Alternative Finance sector and fall into two categories; Cryptocurrencies, and Crypto Asset tokens. Cryptocurrencies are ‘crowd-created currencies. They’re designed for different use cases – for example...

Exchanges are not what they used to be — but what is the next step? Decentralized exchanges are hot, but are they the only solution? A mix of decentralized exchanges and community-fueled marketplaces may be the best answer. How do you figure out the game of crypto trading? Personal trial and error is one way — the way it was done until recently. Crypto trading has a learning curve, and just like any learnable skill on the Internet, it tends to generate discussion, and pull together communities. Those organic communities may be pointing at something important — that maybe, we are not meant to figure it out on our own. Some services, like eToro, have already included social trading. But classical exchanges are a different matter — most still rely on social media to build their communities. Binance, the leading exchange by volumes right now, comes to mind, as it is always quick to communicate. Other marketplaces, however, leave the community work as an afterthought. DACXI takes note of th...

This week in price news: Prices consolidate at record highs. Crypto prices went sideways this week, as the reality of November’s 40% growth and Bitcoin’s near-record high sank into the market. Not only has there been a firm focus on Bitcoin and its ‘Blue Chip’ coins, but many of the other ‘Alt’ coins have seen prices rocket too, as traders seek to maximise the mega-return hype. But as we said in our webinars this week, play in the Alts with absolute caution. Alts are like a casino where only the Blue Chip coins have a confident future – and for every Alt coin that booms, another out there flops. There’s endless amount of talk about the future and reasons for growth. Frankly, I think it’s all hot air, as the reason for growth is simple: there are more buyers than sellers. The long-awaited buying power of large investment funds has arrived – which, combined with a new wave of retail buyers, means prices must inevitably go up. Expect the market to take a breath, maybe even track down anot...

There are many types of people who are trying to enter the crypto world: gamblers, traders and investors. They’re all very different with different goals. It can be confusing to know the difference between these three, so you need to understand what they want out of the coins they buy and hold. The first step in taking your cryptocurrency journey to the next level is figuring out what type of crypto investor you are. Crypto-Trader : The crypto trader is a speculator, looking to make a short to medium-term profit. Their goal is not necessarily to hold onto their investment for any particular length of time, but instead simply to make as much money as possible. Sometimes this might mean going into and out of an investment within hours or days. They may often use technical analysis, relying on tools such as scanners and charts that tell them when a coin has “hit bottom” or is “oversold” so that they can quickly buy-in. Everybody and his dog talk about crypto trading and it’s no secret -...