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It’s all in the wheel: Risky business as hamster invests in crypto

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They say never trust a rodent, but this human has put the fate of his crypto portfolio in the tiny hands of his hamster, Mr Goxx.

Hamster, Mr Goxx’s high tech quarters

For many of us, understanding cryptocurrency is like running around on a hamster wheel.

Sophisticated terms, fluctuating values and virtual wallets – there’s so much that you need to know about the virtual currency before you even start thinking about trading.

But for German hamster Mr Goxx, running on wheels and sliding through tunnels is exactly what the four-legged mastermind does to be in on the crypto game.

Mr Goxx has been running an independent portfolio since June, trading cryptocurrencies from his state-of-the-art high-tech cage, the Goxx Box.

The crypto-crazed hamster is known for trading some of the big names, including Bitcoin, TRON and Ethereum.

Now for those who have to see it to believe it, Mr Goxx’s “office-hours” are livestreamed on Twitch, along with updates on his Twitch and Reddit pages.

But, how can a hamster master the ropes of such a difficult trade, you ask? It’s all in the wheel.

Doing crypto, hamster style

Mr Goxx runs rampant on his “intention wheel”, stopping once he chooses his desired cryptocurrency.

He then has to make the difficult choice of picking one of two tunnels to scamper through; the “buy” tunnel or the “sell” tunnel.

It’s from here where he decides his fate, making purchases or sales of up to 20 euros worth of his chosen crypto.

And if he chooses wrong, well it could be a costly investment for his human business partner.

Slowly paying off

Mr Goxx’s human friend told crypto website Protos that the hamster’s crypto picks are still shy of paying off his high-tech quarters.

Despite this, fans on Saturday saw one of the hamster’s best performances – up 16 percent since his trading journey began back in June.

“Mr. Goxx is happy to see some of his investments finally pay off.”

Mr. Goxx’s human partner told Protos.

Over the course of the weekend, Mr Goxx made more than $60 in profit, seeing his initial investment of 300 euros increase.

Despite his success, trusting a hamster to guide your investment strategy is risky business and one that financial advisors don’t recommend.

And while Mr Goxx’s human business partner continues to partake in his hamster ways, it’s clear that the investments made are for the sole purpose of entertaining Mr Goxx’s fans.

Written by Rebecca Borg

Business

Government-backed crypto could threaten the U.S. economy, report finds

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Government-backed cryptocurrencies could threaten the U.S. economy, that’s according to a new report

The Treasury Department believe that prices crypto are set by market speculation and don’t have much economic reality.

It’s found crypto-asset firms intersect with entities that have risky business profiles.

Treasury believes this is a concern for the U-S financial system.

Of course, Bitcoin is just one digital coin to swing and los much of its value since the start of this year.

But advocates think these stable-coins could be less volatile than traditional currencies.

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Business

Kim Kardashian charged over crypto promotion

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Kim Kardashian is making headlines today but not for good reasons.

The celebrity has been charged $1.26 million by the Securities and Exchange commission for unlawfully promoting a crypto asset on her Insta profile.

The SEC found that the star failed to disclose she was paid $250, 000 to post about the digital coin.

Chair Gary Gensler says this is a reminder that “when celebrities endorse investment opportunities, it doesn’t mean that those investment products are right”

Gensler warned investors to do their own research and analyse the risk involved based on their own financial goals.

Kardashian fully cooperated with the investigation and is not allowed to promote another crypto asset for three years.

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Crypto

Coinbase users in the dark following company-wide fault

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Coinbase users were left in the dark at the weekend because of a company-wide fault

The crypto exchange temporarily stopped transactions for users in the U.S. for over five hours.

Withdrawals and deposits involving bank accounts were put on hold.

But users could still use a debit card or PayPal to buy their crypto.

It follows a string of delays with Solana too, after the network suffered an outage last Friday.

Of course, Coinbase dropped over 1-thousand staff as the value of the crypto falls dramatically.

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