The profitability of Bitcoin can be attributed to its hard limit on total supply and seamless global usability. These factors have contributed to its status as a store of value, and the historical price performance of Bitcoin confirms its potential as a profitable investment. However, investors must understand Bitcoin’s market cycles to maximize their profits and avoid buying at the top and selling at the dip.

Out of the 4,593 trading days, only 531 or 11.56% were unprofitable for long-term hodlers. These unprofitable days occurred between December 28, 2022, and June 12, 2022, during which Bitcoin was priced above the range of $26,246.58 and $28,344.5. This emphasizes the importance of understanding market cycles, and investors should exercise caution to avoid significant losses.

While some investors prefer to hold Bitcoin long-term, others make daily trades on crypto exchanges for consistent profits. Regardless of the investment strategy, understanding the market cycles and trends is crucial for maximizing profits.

However, investing in Bitcoin is not without its risks, as demonstrated by the recent security vulnerability discovered by General Bytes. The manufacturer of Bitcoin ATMs had to shut down its cloud services after discovering a vulnerability that allowed attackers to access users’ hot wallets and gain sensitive information. Karel Kyovsky, the founder of General Bytes, stated that multiple security audits since 2021 did not identify the vulnerability.

In conclusion, Bitcoin’s profitability challenges the historical narrative of depreciating volatility in the crypto market. Hodlers have experienced profits on the majority of trading days, making Bitcoin a potentially lucrative investment asset. However, understanding market cycles and trends is essential for investors to maximize their profits and avoid significant losses. Additionally, investors should be aware of the potential risks associated with investing in Bitcoin, such as security vulnerabilities.

Previously, MoonPay had a card integration feature, but about 90% of attempts to buy crypto with a credit or debit card were declined, according to Santos, a MetaMask spokesperson. With the new integration supporting local bank transfers, crypto purchases on MetaMask are now faster and cheaper, allowing users to access crypto without sending assets from a centralized exchange.

Despite the current issues with crypto on-ramps in Nigeria, the country has emerged as a major market for MetaMask, ranking third in mobile monthly active users. It is also among the top ten countries in terms of visitors to metamask.io over the last month, Santos added. Nigeria is one of the world’s top 20 ranked countries in cryptocurrency adoption, according to the Chainalysis 2022 Global Crypto Adoption Index. Some reports suggest that 35% of the Nigerian population aged 18 to 60 owned or traded cryptocurrencies in 2022.

This high level of adoption is despite the Central Bank of Nigeria banning banks from servicing crypto exchanges in February 2021. However, in December 2022, local media reported that the Nigerian government was preparing to pass a law recognizing the usage of Bitcoin (BTC) and other cryptocurrencies to keep up to date with “global practices.” This move, coupled with the new integration between MetaMask and MoonPay, may signal a growing acceptance of cryptocurrencies in Nigeria.

It is important to note that Nigeria’s cryptocurrency market faces challenges such as a lack of regulatory clarity and security concerns. However, the partnership between MetaMask and MoonPay provides a viable solution for those seeking to invest in crypto without the use of credit or debit cards. As the adoption of cryptocurrencies continues to grow in Nigeria and other countries around the world, we may see further innovations aimed at increasing accessibility and usability.

Coinbase argues that staking is not an investment of money, as the opportunity cost of staking is not an investment. Users retain full authority over their assets, with the ability to unstake them, sell, hypothecate, vote, pledge, or otherwise dispose of them independently of the service provider. The rewards users receive are simply payments for services rendered, and core staking services entail ministerial maintenance and not managerial efforts in the sense of traditional investing.

The petition cites several historical precedents that can guide the SEC on the current regulatory work with crypto staking. These include the 1973 Committee on Special Investment Advisory Services, the SEC’s Regulation Fair Disclosure from 2000, and the Report of Investigation Pursuant to Section 21(a) of the Securities Exchange Act of 1934: The DAO, from 2017. Coinbase urges regulators to consider the economic consequences of their actions on the digital asset ecosystem and take a different approach to the treatment of staking services.

Coinbase publicly distanced itself from Kraken’s staking program in February, with CEO Brian Armstrong expressing his readiness to defend the company’s position in court “if needed.” Despite the SEC’s actions, Coinbase has reiterated to customers that its staking services will continue and “may actually increase.”

Overall, Coinbase’s petition to the SEC on staking argues that the practice should not be universally labeled as securities. It provides a detailed argument based on historical precedents and highlights the economic consequences of regulatory actions on the digital asset ecosystem.