The ‘Bitcoin Family’ immigrates to Portugal for its 0% tax on cryptocurrencies

Didi Taihuttu, patriarch of the so-called ‘Bitcoin Family,’ is setting down roots in Portugal, Europe’s ultimate crypto tax haven.

Settling down is a big deal for the Dutch family of five, who have traveled the world for the last five years. But after spending time in 40 countries, Portugal — which is one of the last places in Europe with a 0% tax on bitcoin — was just too enticing a destination to ignore.

“You don’t pay any capital gains tax or anything else in Portugal on cryptocurrency,” said Taihuttu. As long as you don’t earn cryptocurrency for providing services in Portugal, you’re in the clear.

“That’s a very beautiful bitcoin heaven,” he said.

In 2017, Taihuttu, his wife and three kids liquidated all they owned, trading a 2,500-square-foot house and virtually all their earthly possessions for bitcoin and a life on the road. This was back when the price of bitcoin was around $900. The world’s biggest cryptocurrency is currently trading around $41,000 after peaking at about $69,000 in November.

While the Taihuttu contingent won’t disclose the exact size of their crypto nest egg, the 43-year-old father of three says he safeguards the family’s crypto fortune in secret vaults on four different continents, so presumably, their crypto stake is substantial enough to make it worth having to fly across the globe to redeem their decentralized cash.

With that kind of crypto stake, the tax perks in Portugal are certainly a big draw, though it doesn’t hurt that the country offers a safe and pleasant way of life. In 2021, the country ranked fourth on the Global Peace Index, and it tops the list of best countries for expats.

The Bitcoin Family isn’t alone in making the move to the Iberian Peninsula. The 2021 population census in Portugal shows that the number of foreign residents in Portugal increased by 40% in the last decade.

Taihuttu’s siblings may also make the move. Didi’s brother and sister are selling their houses and investing that cash into bitcoin.

“We will all be traveling together as one big bitcoin family which is, of course, really cool,” said Taihuttu.

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The 27 most expensive recorded NFT sales in January amounted to $1.3 billion — but it came from just two crypto wallets trading with each other.

Wash Out

If you’re completely confused why someone would pay tens of millions for a glorified JPG, you’re not alone. NFTs have seen a meteoric rise since bursting onto the scene early last year, and the trend has left many wondering why the hell buyers are shelling out so much for digital images.

Well, it turns out that a bunch of sales are actually sneaky traders buying their own NFTs in an attempt to artificially inflate their prices, in a tactic called “wash trading.” In fact, evidence is starting to build that shows that many of the most expensive NFT “purchases” are the result of the deceptive process.

For example, the 27 most expensive recorded NFT sales in January amounted to $1.3 billion — but came from just two crypto wallets trading on the NFT platform LooksRare, Reuters reports. Meanwhile, the top 100 sales that amounted to $2.3 billion came from just 16 wallets. 

“There is a lot of activity happening between a couple of wallets — let’s say wallet one selling to wallet two, and then wallet two reselling it,” Modesta Masoit, finance and research director of blockchain market data tracker DappRadar, told Reuters. “It’s quite likely that this is not real demand, that these trades are not organic.”

NosFeraTu

Shockingly — or perhaps unshockingly, if you’ve been following the chaos of the NFT scene for a while — there are currently no rules against this type of behavior. Unlike in the real world, where duplicitous financial transactions like this are illegal, regulators have yet to catch up with NFTs and other blockchain related assets.  

Even as evidence piles up that many NFT sales are shams, there’s still not a lot of hard data, and by nature it’s hard to collect, especially if sellers are making a serious effort to cover their tracks. In fact, there’s some evidence that a lot of washed NFTs are hilariously likelier to lose money than gain

That’s just the name of the game with crypto trends though. While a decentralized and anonymous financial system might seem attractive, it’s also bound to attract a ton of bad actors who are willing to do anything to make a quick buck. 

The post Evidence Is Piling Up That a Huge Number of NFT Sales Are Fake appeared first on Futurism.

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Snoop Dogg recently released an album on his newly acquired Death Row Records called B.O.D.R. As part of his new album which was launched on February 9, Snoop Dogg released a Stash Box NFT collection in collaboration with Gala Music, a decentralized record company.

He released 25,000 NFTs for $5,000 each and each NFT includes one of the 17 tracks as an NFT. According to Trapital, owners who get all 17 tracks will be invited to private events, potential BBQs at Snoop’s house, a commemorative chain, other VIP benefits.

The artist has reportedly sold over 8,000 Stash Box NFTs as of Monday, February 14, through the Gala Music store at $5,000 apiece. By Tuesday, this had translated to some $44.3 million since it went live on Friday.

And if all 25,000 sell out by November 18, Snoop is likely to make $125 million. The expected revenue will increase his net worth, which is $150 million.

In recent times, established artists have made a conscious effort to make more money from NFTs. Superstar DJ Steve Aoki recently revealed that he’s made more money from NFTs than he did from advances during his years of making music.

He said: “If I was to really break down, OK, in the 10 years I’ve been making music… six albums, and you [combine] all those advances, what I did in one drop last year in NFTs, I made more money.”

Snoop recently acquired the brand name rights to Death Row Records. According to him, the move was an “extremely meaningful moment for me” and he was looking forward to “building the next chapter” of the record label.

“I am thrilled and appreciative of the opportunity to acquire the iconic and culturally significant Death Row Records brand, which has immense untapped future value,” he said in a statement. “It feels good to have ownership of the label I was part of at the beginning of my career and as one of the founding members.”

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Months after El Salvador announced that it would accept bitcoin as legal tender, the country has found itself on the verge of economic collapse yet again.

Months after El Salvador announced that it would accept bitcoin as legal tender, the country has found itself on the verge of economic collapse yet again. 

The country’s president Nayib Bukele made waves last year when he announced that the nation would accept the token for use at stores and banks. The self-described “CEO of El Salvador” even announced plans to build a “Bitcoin City to turn the country into “the financial center of the world.”

However, it turns out that forcing your nation’s banks and stores to accept a currency large swaths of the population are unfamiliar with and don’t trust is a good way to tank your economy, according to a castigating report by Fortune.

El Salvador has found itself in an ever-deepening sinkhole of debt, with its cringe president lobbying the International Monetary Fund for a $1.3 billion loan, according to the magazine, and shortly after the Bitcoin City announcement in November, the country’s sovereign bond dropped from 75 cents to 63 cents overnight and is now at 36 cents.

In the past five months since it officially adopted bitcoin as legal tender, experts have estimated that El Salvador’s sovereign credit got four times worse than it was before the move. Bitcoin’s extreme volatility has also been on full display, as its price was hovering around $60,000 at the time of Bukele’s big announcements, but has now crashed to the mid-$40,000s.

“El Salvador now has the most distressed sovereign debt in the world, and it’s because of the Bitcoin folly,” Steve Hanke, professor of applied economics at Johns Hopkins University, told Fortune. “The markets think that Bukele’s gone mad, and he has.”

There are many reasons for this, including the fact that El Salvador already wasn’t doing so hot financially before their big bet on bitcoin. However, a look under the hood revealed that many Salvadorans simply didn’t trust the token leading to limited use of the token. 

A Central American University survey conducted last September found that nine out of 10 citizens in the country didn’t know what bitcoin was, and eight out of 10 said they had little to no confidence in the digital cash. 

Bukele also sold the legislation on the idea that bitcoin would make remittances — money sent to Salvadorans from friends and family members working abroad — cheaper. However, the opposite was often true.

This is because citizens would typically turn the bitcoin into cash after receiving it, Fortune reports. To do that, they needed to travel to an ATM, which takes a substantial cut of the money withdrawn. Exchange platforms like Coinbase also take anywhere from two to four percent of the money as well. 

Hanke believes that that winds up being nearly four times as expensive as traditional remittances. 

So yeah, turns out voting in a cringe crypto bro as president might not be the best thing for your country. While there’s certainly some promise to the idea of accepting bitcoin as legal tender, public trust needs to get there first — and we wouldn’t bet on that happening any time soon.

El Salvador’s plan to create the first Bitcoin-powered nation is tanking the economy—and is a mess by every measure [Fortune]

El Salvador Officially Starts Mining Bitcoin Using Power from an Actual Volcano

The post An Entire Country Switched to Bitcoin and Now Its Economy Is Floundering appeared first on Futurism.

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So DiAngelo did what other sex workers do: She “platform hopped,” meaning that she brought her money to another bank. When they also flagged and closed her account, she moved on to the next. After being shut out of a third bank, DiAngelo says she turned exclusively to bitcoin for her online banking needs. 

“We will change, we will pivot, we’ll go to other platforms,” Knox said. “This is just a constant like jumping through hoops cycle.”

Later, in 2016, Coinbase closed her account and blocked her from making others. (Coinbase acknowledged to CNBC that its terms of service prohibit the use of its “commerce or retail services connected to adult content.”)

Mastercard confirmed the meeting with Evans, saying that the company “welcomes dialogue and different perspectives” about its policies and programs.

“I just kind of left it on the backburner and would collect it whenever people would pay me in it,” said Knox, who tells CNBC she still holds a good portion of her crypto stake. “I collected till about 2017 and then crypto went crazy. It was one of those things where I was like, ‘Oh, wow, this was an accidental great investment for me.'”

Beyond price volatility, trading in crypto often incurs extra fees.

“Buying the crypto to pay for [ads] was always fraught with all these hidden fees that these trading sites would be charging,” said San Francisco-based Maxine Doogan, who has been working as a prostitute for more than thirty years. 

Instead of using a traditional exchange like Coinbase, Doogan instead goes through a convoluted process that involves finding an intermediary via a trading site, and then depositing cash into that person’s bank account, trusting that they will then electronically transfer bitcoin into her crypto wallet. Some of these intermediaries will accept gift cards. Others ask sex workers to buy a regular “vanilla” credit card and send them the numbers, in hopes that they’ll follow through on the trade.

DiAngelo says that in the early days of crypto, she would use bitcoin ATMs at liquor stores and gas stations to deposit cash to buy bitcoin. These machines charge commissions above and beyond the cost of the transaction.

Another major problem relates to the rules that govern cryptocurrency exchanges. Many platforms like Coinbase require know-your-customer, or KYC compliance. In practice, that means having to connect an ID and bank account to the platform – a non-starter for many working in the industry. 

Because of this, some workers later find they can’t cash out the crypto they have earned for products or services rendered.

While there are tokens designed with privacy and anonymity in mind (zcash and monero, for example), the blockchain technology that underpins cryptocurrencies like bitcoin is transparent by design, leading some in the industry to worry that with the right tools and crypto know-how, friends, family, or the government technically have the ability to track their steps.

But Rae remains convinced that cryptocurrency is the future for the sex work industry.

“Cryptocurrency is our only option. I don’t feel like we’re going to survive under stricter and stricter rules from the banking industry,” said Rae.

“For people like me making millions of dollars, a thirty day notice from OnlyFans would be the end of us. Crypto really feels like it’s kinda it, otherwise we’re going to be controlled forever and who knows the kind of content they’re going to continue to ban. They can turn you off tomorrow.”

This content was originally published here.

Many novice and professional traders alike focus full-time on cryptocurrencies, as opposed to stocks, forex, and other asset classes. It seems that many are making the most money by engaging in leverage trading.

Crypto leverage trading provides an opportunity for traders with almost any budget to make a meaningful profit, since leverage multiples the amount of crypto you can trade.

But what is leverage trading? Keep on reading to discover how this can be a powerful method to multiply crypto trading profits.

Two Main Types of Trading

When people are trading an asset on a short-term basis for profit, they are likely trading in one of two ways; non-leveraged trading or leverage trading.

Trading without leverage in the spot market is the most basic form of trading. This is when you actually purchase assets with the money you have in your account. The assets purchased can be a cryptocurrency like Bitcoin or something like stocks or foreign currencies.

You can choose to hold these assets in your account, or sell them and cash out at any time. Spot trading is frequently used by low-risk day traders, but it is more common with long-term, buy-and-hold traders who are investing rather than actively trading.

On the other side, we have leverage trading, otherwise known as margin trading, or trading on margin. Leverage trading crypto allows you to trade much larger amounts of the asset than you can afford on your own.

With leverage trading the broker will lend the money to make larger trades. All they require is for the person to put up a deposit, guaranteeing the funds.

If the price moves in the trader’s favor, he/she can then sell the large position for some serious gains. The borrowed funds are then settled with the broker, and the trader keeps the oversized profit.

The only catch is that leverage can work against the trader, just as much as it can work in the trader’s favor. Amplified earnings also mean amplified losses, in the event, the trader exits the trade at a loss.

How Does Leverage Work in Crypto?

So how does leverage trading work when trading crypto? It starts with signing up for the right broker or crypto exchange. Not all exchanges offer leveraged trading. The ones that do will offer different amounts of leverage. Some might offer 1:10 while others might go as high as 1:100 or beyond.

When you enter a leveraged trade, you are required to make a deposit. This deposit is known as your margin requirement.

If you enter a trade for $10,000 at 1:10 leverage, your margin requirement would be 10%, or $1,000. So you’ll need to have a minimum of $1,000 in your trading account.

Once you open your position, these funds are locked up and cannot be used to open other trades, until you close your leveraged position.

Crypto Leverage Example Trade

Let’s take a look at an example of how leveraged trading works in regards to crypto.

Say your trading brokerage allows leverage up to 1:30. Rather than use the maximum amount of leverage, you choose to use 1:20 instead, to play it a little safer.

You want to purchase $10,000 worth of Bitcoin, but you don’t have anywhere near that amount. At 1:20 leverage, that means you only need to provide $500. This is your margin requirement.

You go long on Bitcoin, purchasing $10,000. Say the price increases by 5%, and you close your position at a profit. You would have earned $500 on that single trade.

Without leverage, you could’ve entered the same trade with just $500. With a 5% increase, you would’ve made $25. 1:20 leverage means you can make 20 times the profit you would normally make.

However, leverage is a double-edged sword. On that same trade, you could have lost $500 if the price decreased by 5%. Once your position decreases enough to wipe out your margin, your trade gets liquidated and you lose your entire balance.

Tips for Leveraged Trading

Should you use leverage your benefit? Here’s what it takes to make leverage trading work for you.

Understand the Risks

Trading on margin can be risky. Never trade more than you’re willing to lose, because every trader loses at some point or another.

Trade With Discipline

On each trade that you make, you should never risk more than 5% of your account balance. Many traders don’t risk more than 1% or 2% of their account balance. So if you have $1,000 in your trading account, you shouldn’t risk more than $50 on an individual trade.

Set a Stop Loss

Regardless of what type of trading you are doing, stop-losses are one of the most important tools you can use. This is especially true when trading on margin.

By setting a stop-loss, you can limit the amount a position can move against you. Stop-losses ensure your losses are never too big. This keeps your account safe from derailment by any single trade.

Trade on Paper First

Since trading with leverage is much riskier, you need to develop a trading method that works for you. Only trade with real money once you are confident in your technical analysis skills, and know-how to time your entries and exits. Use paper trading to simulate the experience of trading with leverage first.

Trade Like the Pros

Most new crypto traders go at it alone, and that’s one of the biggest mistakes you can make. Thousands of people have gone before you, and many of them are willing to share their secrets and insights, to help improve the lives of others.

By joining a trading program, such as the Spiking Cryptos Trading Masterclass, you can learn from professional traders who have been where you are at. You can follow the systems and methods that they’ve already developed.

The Spiking Cryptos AI data platform curates all the wallets’ data and presents it in an easy to read manner. By having these access to the same information that the highest-level traders have. You can see what top-performers are buying, and when they are selling, and decide if you want to follow their lead.

Make Leverage Trading Work for You

Leverage trading makes crypto much more profitable, for those with huge accounts and for newbie traders with tiny accounts. If you can learn to use leverage to your benefit, there’s no limit to how much you can make in the crypto market each day.

Using tools like Spiking Cryptos AI, will drastically increase one’s odds of making successful trades. Check out the upcoming Free Live Webinar to learn more on how you can start building your crypto wealth today.

Join the Spiking Wealth Community

Want to learn more about the various trading strategies and see which one suits you the best? Lead by Dr. Clemen Chiang, the Spiking Wealth Community is an online community network. Together we are catching the Spikes so that you have faith, hope, and love in everything you do. Spiking Wealth Community helps you to accomplish time squeeze by connecting the dots through online courses, live trading, winning trades, and more. Join us for Free and start your Spiking Wealth Journey today!

*Disclaimer:  The article should not be taken as, and is not intended to provide investment advice. Claims made in this article do not constitute investment advice and should not be taken as such. Spiking strongly recommends that you perform your own independent research before making financial decisions.

This content was originally published here.

It is said in the world of investing, the best investor is the person who enhances their portfolio. This is true, which is the reason why people today look for the best options to invest in and get the highest returns on them. Cryptocurrencies have become popular with many people investing in them after the huge increase in the prices of Bitcoin, Ethereum, and other top cryptocurrencies. There are a huge number of choices when it comes to investing in cryptocurrencies. Big options like Bitcoin and Ethereum are undeniable decisions, however, there are different and/or cheaper options in the form of penny coins with more growth potential that you can invest with and diversify your portfolio.This article includes the ten best penny cryptocurrencies.

1. Ethereum (ETH)

Ethereum is a decentralized cryptocurrency that uses Ether as its primary currency. The Ethereum blockchain can be useful in enabling smart contracts and fill in as a platform to create and manage other crypto coins. Ethereum was first announced in 2013 by Vitalik Buterin in the year 2013. It was a company with a market capitalization of over $400 billion by September 14, 2021. We can see a consistent development.

2. Tether

The list of top 10 penny cryptocurrencies is incomplete without the most steady-worth cryptocurrencies. Tether is beneficial for crypto investors as it provides a way to avoid the extreme volatility of other cryptocurrencies. Furthermore, having USDT (instead of the US Dollar) removes the transaction costs and delays that reduce trade execution within the crypto market.

3. Binance USD

Binance USD (BUSD) is a 1:1 USD-backed stable coin given by Binance endorsed and managed by the New York State Department of Financial Services (NYDFS). Binance USD strives to be a reliable and efficient marketplace that provides access and trades a healthy variety of crypto assets.

4. Stellar (XLM)

The platform focuses on remittances and cross-border payments. It has become one of the main cryptocurrencies with over $531 million trading in a day. Furthermore, it is listed among the top 13 world’s most significant cryptocurrencies in the world. Stellar is maintained by the Stellar Development Foundation,  which is a non-benefit association set up in 2014. Jed McCaleb co-founded it, yet he left the organization in the year 2014 just to begin his endeavor.

XLM aims to be an open financial system that will provide access to all pay levels for performing low-cost financial services. Some of the major services they provide are mobile money, settlements, mobile branches, micropayments, and more.

Stellar years reduce the necessary time and cost for international money transfers; so, they need to make impartial access to the worldwide financial system. It has a magnificent application that helps people to convert crypto to fiat currency. Their highest price in 2018 was $0.83, and at this point, their cost is around $0.340.

5. Cardano (ADA)

Cardano uses its Ouroboros confirmed Blockchain to enable secure transactions and ensure your privacy. The currency it uses is called ADA. Cardano uses a “proof-of-stake” method to validate all transactions made on its blockchain. This is more powerful than Ethereum’s “proof-of-work” systems used by Bitcoin and Ethereum. Cardano was founded in the year 2015 by Charles Hoskinson in 2015. On September 14, 2021, ADA was trading with a capitalization of $76 billion.

6. Ripple (XRP)

Undoubtedly, this is one of the most famous cryptocurrencies in the market. Ripple is a technology that goes about as both a cryptocurrency and a digital payment network. The company launched a native currency known as XRP and it is based on an open-source blockchain named the XRP Ledger. XRP remains a promising penny cryptocurrency. This is little surprise considering that Ripple’s market cap is in the hundreds of millions of dollars. The difference between the market cap and valuation is that a total of 100 billion tokens are in the range of XRP. When it comes to investing in cryptocurrencies, XRP is one of the most amazing investment options.

7. Dogecoin

Following up on the best 10 penny digital currencies is Dogecoin. An open-source cryptocurrency launched in 2013 by Jackson Palmer and Billy Marcus. Dogecoin at first began as a joke based on a popular meme. The creators of Dogecoin envisioned it as a fun, lightweight cryptocurrency that would appeal more to the core bitcoin audience. It has since exploded in popularity due to the interest of Elon Musk. There is no limit to the number of Dogecoins that could be mined, and its market cap, as of October 14, 2021, is $31 Billion. The highest price of 1 DOGE was recorded on May 8, 2021, reaching $0.7376 per coin. It may appear to be that the price is falling, but in 2022 it will accelerate.

8. Basic Attention Token (BAT)

The Basic Attention Token or BAT is based on the Ethereum blockchain and promotes itself as a productive method of digital advertising. It is one of the most amazing penny cryptos to invest in because they have the best projects in the crypto world. BAT holds the 34th position internationally in terms of market capitalization. It is also used by the BAT decentralized blockchain-based trade for digital advertising. Advertisers primarily use their tokens to pay distributors for the advertisements based on user attention. Users are even paid with tokens as a reward for viewing ads. BAT reached an all-time high of $0.88 in January 2018, and so far, their price is trading around $0.679.

9. Dai

DAI is an Ethereum-based stablecoin whose issuance and improvement are overseen by the Maker Protocol and the Maker DAO Decentralized Autonomous Organization. The cost of DAI is delicately fixed to the US dollar and is collateralized by a mix of other cryptocurrencies that are stored into savvy contract vaults each time another DAI is stamped.

10. VeChain (VET)

VeChain is a blockchain-as-a-service platform generally for enterprises that aims to solve real-world financial issues. It involves IoT to track and provide proof of authentication of goods and services in the course of business. They offer two sorts of tokens to their users: VeChain Token (VET) and VeThor Token(VTHO). The current value of one VeChain is $0.1115; they simply trade at $0.20 after making a huge profit of 4500% in just one year. Given its use case in the vast supply and logistics industry, it seems to be an important penny stock to invest in.

Sometimes it is better to be safe rather than be sorry. Ample amount of time must be taken to research before making any decisions to invest in cryptocurrency. Even the proteges in the cryptocurrency world can go wrong as the cryptocurrency market is known to be volatile. Doing your own due diligence and taking the time needed to learn all about cryptocurrencies will bring about benefits for you.

These are probably the best penny cryptocurrencies to invest in, however, the best thing is to do some more research as per your requirement while investing. The reason behind this is that you will gain information about the crypto world and clear your doubts about investing.

A well known advice is to never invest money into penny cryptocurrencies that you cannot afford to lose. Due to the volatility nature of the cryptocurrency market, it is also important to stay calm when things do not go your way. Analyze the reasons before taking necessary action.

Join the Spiking Wealth Community

Want to learn more about the various trading strategies and see which one suits you the best? Sign up for the Free Live Webinar to learn more about the various trading masterclasses and join the Spiking Wealth Community, an online community which is lead by Dr. Clemen Chiang. Together we are catching the Spikes so that you have faith, hope, and love in everything you do. Spiking Wealth Community helps you to accomplish time squeeze by connecting the dots through online courses, live trading, winning trades, and more. Join us for Free and start your Spiking Wealth Journey today!

*Disclaimer:  The article should not be taken as, and is not intended to provide investment advice. Claims made in this article do not constitute investment advice and should not be taken as such. Spiking strongly recommends that you perform your own independent research before making financial decisions.

This content was originally published here.

An Erling Haaland NFT trading card sells for a whopping £500,000, SMASHING the previous record that had been held by a Cristiano Ronaldo version by around £100,000

Erling Haaland‘s status as one of the world’s most famous players continues to grow after a rare NFT trading card version of him was sold for a record £500,000.

The Borussia Dortmund striker is already seen as one of the best in the world and he is expected to help carry football into the future as the likes of Lionel Messi and Cristiano Ronaldo come to the end of their careers.

And already Haaland’s popularity is starting to outstrip Ronaldo’s, after an online auction on Sunday saw a late flurry of action see his digital trading sell for a figure that greatly usurped a previous NFT featuring the Manchester United star.

Erling Haaland bought for 265.1001 ETH (678327.53$) by Zima Blue on the primary market

Season: 2021-2022
Level: 0
Serial: 1/1
Price: 678327.53$

⚽ Sorare: https://t.co/Rwrqaq1A2l

��: https://t.co/gG95GsLnYm#Sorare #NFT #Ethereum #FantasyFootball

— SorareBot by SorareData (@SorareBot)

Ronaldo’s NFT previously had the record of around £300,000 when it was sold in November.

However, the image on the Portuguese’s card was still him playing for Juventus despite having already played 12 times for United having rejoined the Red Devils last summer.

Even that price was seen as disappointing with, auctioneer Bonhams’ predicting a sale that could have stretched to £900,000.

The producers of the NFTs, Sorare, had claimed before Haaland’s card went up for auction that it ‘could go down as the most expensive auction in platform history.’

Haaland’s card eclipses a previous version featuring Ronaldo, which sold for £300,000

As the auction headed into the final minute many involved with the online bid looked on astonished as the value of the top bid almost doubled to the eventual sold figure.

The winner of the auction was a Sorare collector going under the username of Zima Blue, who paid for the card with 255.100 Ethereum – which is a cryptocurrency used to trade the cards.

Haaland’s card is now among the most valuable digital items in the whole of sport, but his trading cards have also proven popular in the physical realm too.

A one-off signed Topps Chrome ‘superfactor’ card produced during his debut season at Dortmund was sold for £330,000 back in July.

Haaland’s popularity means he has high value trading cars digitally and physically

The one-off Haaland NFT card can now be used as part of a digital trading card game in Sorare’s next-gen fantasy football game.

The game is based on real-world matches and players earn points of up to 100 based on their quantifiable positive contributions (goals, assists etc) and negative actions (red and yellow cards etc).

Five players feature on every team and online users compete in matchweeks.

What are NFTs?  

What is a NFT?

A Non-Fungible Token (NFT) is a unique digital token encrypted with an artist’s signature and which verifies its ownership and authenticity and is permanently attached to the piece.

What do they look like?

Most NFTs include some kind digital artwork, such as photos, videos, GIFs, and music. Theoretically, anything digital could be turned into a NFT.  

Where do you buy them?

At the moment, NFTs are most commonly sold in so-called ‘drops’, timed online sales by blockchain-backed marketplaces like Nifty Gateway, Opensea and Rarible.

Why would I want to own one? 

There’s an array of reasons why someone may want to buy a NFT. For some, the reason may be emotional value, because NFTs are seen as collectors items. For others, they are seen as an investment opportunity similar to cryptocurrencies, because the value could increase.  

When were NFTs created? 

Writer and podcaster Andrew Steinwold traced the origins of NFTs back to 2012, with the creation of the Colored Coins cryptocurrency. But NFTs didn’t move into the mainstream until five years later, when the blockchain game CryptoKitties began selling virtual cats in 2017.  

Erling Haaland NFT trading card sells for £500,000, SMASHING the previous Cristiano Ronaldo record

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