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<ul><li>The <keyword id="11364707" type="UNKNOWN" weightage="20" keywordseo="oneplus-blockchain-survey">OnePlus blockchain survey</keyword> has been posted in the company’s community app.</li><li>Questions in the survey hint that OnePlus is exploring the possibility of launching its own cryptocurrency wallet.</li><li>OnePlus’ survey tries to understand what cryptocurrency users use, the problems they face and how often they trade in crypto, among other things.</li></ul>Smartphone maker OnePlus is surveying its users about blockchain technology and by extension, the need for a cryptocurrency wallet. The survey revolves around cryptocurrencies and whether OnePlus users use or have used popular cryptocurrency wallets like Coinbase, Binance among others. The <a href="https://docs.google.com/forms/d/e/1FAIpQLSclgfGi61ev2v99FnZ6CEoHl0AeX7U9ogTkxu5ifNbdRy6Lew/viewform">survey</a>, first spotted by <a href="https://pricee.com/api/redirect/t.php?from=gadgets360&amp;redirect=https%3A%2F%2Fwww.mysmartprice.com%2Fgear%2Foneplus-crypto-wallet-survey%2F">MySmartPrice</a>, contains a list of questions asking users if they have invested in any type of cryptocurrency, their anonymous demographic details and more. This could be a hint at OnePlus entering the blockchain/cryptocurrency space, even if it’s in the form of a wallet to store all your <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite">cryptocurrency</a> purchases. Given that cryptocurrencies have exploded in popularity in India – OnePlus’ biggest market – and in other parts of the world, it might make some sense for the company to dip its toes in this space. <cmsannotation type="cmsannotation" annotationid="What is this OnePlus blockchain survey about?" comment="subhead" text="What is this OnePlus blockchain survey about?">What is this <keyword id="11364705" type="UNKNOWN" weightage="20" keywordseo="oneplus-blockchain">OnePlus blockchain</keyword> survey about?</cmsannotation> So far, going by the questions in the survey OnePlus seems to be trying to understand the dealings of its users and what they think about cryptocurrencies. Apart from this, the survey also tries to understand the issues faced by users, be it investing or simply holding cryptocurrencies. There are a few other questions related to using these cryptocurrency wallets, including the ease of use and what users feel about the security offered by these wallets. Essentially, the survey revolves around what cryptocurrency users use, how often they invest or trade in crypto, the ease of use and security. The company has also posed questions about non-fungible tokens (NFT). These questions seem essential from the point of view of designing a product, which suggests that OnePlus is indeed exploring the need and value of creating its own cryptocurrency wallet. Business Insider has reached out to OnePlus for a comment. We will update this story as and when we receive a response. So far, Samsung and HTC have launched their own <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite">cryptocurrency</a> wallets or solutions. More specifically, Samsung’s blockchain wallet has been around since the launch of the Galaxy S10 series in 2019. HTC went a step further and <a href="https://www.htcexodus.com/mea-en/">launched</a> its dedicated cryptocurrency phone called the <keyword id="77924" type="COMPANY" weightage="20" keywordseo="exodus">Exodus</keyword>. It remains to be seen if the <keyword id="11364703" type="UNKNOWN" weightage="20" keywordseo="oneplus-cryptocurrency-wallet">OnePlus cryptocurrency wallet</keyword> becomes a reality in the near future. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/google-photos-alternatives-are-hardly-any-good/articleshow/83138238.cms">Google Photos' free storage comes to an end, and there are hardly any good alternatives</a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-nord-2-release-date-specs-price-leaks/articleshow/82829154.cms">OnePlus Nord CE 5G release date, specifications and everything else we know so far</a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-is-giving-away-9000-worth-google-stadia-bundle-for-free-but-its-not-available-in-india/articleshow/82965884.cms">OnePlus is giving away ₹9,000 worth Google Stadia bundle for free – but it’s not available in India</a>

OnePlus cryptocurrency wallet could be in the works, company survey suggests

<ul><li>Many experts are advising investors to be cautious while investing in cryptocurrencies.</li><li>The <keyword id="6357017" type="DEFINITION" weightage="20" keywordseo="cryptocurrency">cryptocurrency</keyword> market went through a correction of sorts, with steep drops in the price of Bitcoin, Ethereum and more.</li><li><keyword id="18712" type="ENTERTAINMENT" weightage="20" keywordseo="Gold">Gold</keyword>man Sachs’ Jeff Currie said cryptocurrencies are not akin to gold.</li></ul>The recent fluctuation in the prices of <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite">cryptocurrencies</a> have confused many. Investors, especially retail investors, are having trouble deciding what to do with their investments. And though there is a barrage of opinions out there, investments are best made when you listen to the experts. So, here’s what experts are saying about cryptocurrencies like Bitcoin, Ethereum and more. “The bitcoin flow picture continues to deteriorate and is pointing to continued retrenchment by institutional investors. Over the past month, Bitcoin futures markets experienced their steepest and more sustained liquidation since the Bitcoin ascent started last October,” analysts at investment bank JP Morgan wrote in a note recently. “Institutions are unwinding Bitcoin futures and building up long positions in gold futures. And Bitcoin funds are also seeing a steady deterioration, with four-week flow turning negative for the first time,” they added. JP Morgan isn’t the only one who is advocating caution right now. Jeff Currie, the global head of commodities research at investment bank Goldman Sachs, said that <keyword id="3144636" type="PERSON" weightage="20" keywordseo="digital-currencies">digital currencies</keyword> aren’t substitutes for gold, alluding to comparisons between Bitcoin and gold as investment mediums. "Digital currencies are not substitutes for gold. If anything, they would be a substitute for copper, they are pro-risk, risk-on assets. They are a substitute for risk on inflation hedges, not risk-off inflation hedges,” Currie <a href="https://cointelegraph.com/news/bitcoin-is-risky-digital-copper-it-s-not-gold-goldman-sachs-commodities-boss">said</a> while speaking at CNBC’s Squawk Box Europe yesterday. The terms “risk-on” and “risk-off” refer to investor optimism about the market. Essentially, Currie is warning investors from taking too many risks on the crypto market right now. A ‘risk-off’ market is one where investors go for the more dependable investments in order to fend off market uncertainty. Crypto markets are always volatile, so it’s more difficult to find dependable assets to invest in. With more and more investors treating cryptocurrencies as assets, many have called them “digital gold” at times, referring to the investments people made in gold bars a long time ago. The term is usually used for Bitcoin and Ethereum -- two of the most popular cryptocurrencies in the world. Both have market capitalisation in the billions and are favourites amongst investors. “Investors need to distribute their buying, and closely follow market movement for at least the next one week,” Nischal Shetty, founder and chief executive officer (CEO) of top Indian <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite">crypto exchange</a>, WazirX, <a href="https://www.newindianexpress.com/business/2021/may/24/caught-in-the-bitcoin-fad-experts-advise-caution-2306713.html">said</a> recently. On the other hand, while experts are advising investors to be cautious, many are also advising governments to formulate policies that would allow cryptocurrencies and blockchain technologies to grow. “Now is the time for India’s policymakers to take the forward-looking approach that many other jurisdictions have taken. Responsible usage of blockchain technology and digital assets can introduce tremendous potential to the Indian economy,” said a <a href="https://ripple.com/insights/policy-framework-for-digital-assets-in-india/">policy paper</a> by Ripple recently. “Under a clear regulatory framework, consumers and businesses can confidently take full advantage of and operate within a safe environment that encourages the use of innovative technology,” the paper added. Central banks are yet to take a firm call on cryptocurrencies though. The Reserve Bank of India (RBI), the US Federal Reserve, the European Union, and many more are considering issuing their own digital currencies, known as <a href="https://www.businessinsider.in/cryptocurrency/news/central-banks-in-europe-us-china-india-have-been-working-on-central-bank-digital-currencies/articleshow/82943973.cms">central bank digital currencies</a>, and regulations are definitely going to be affected by these. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/oneplus-cryptocurrency-wallet-could-be-in-the-works-company-survey-suggests/articleshow/83164929.cms">OnePlus cryptocurrency wallet could be in the works, company survey suggests</a> <a href="https://www.businessinsider.in/careers/news/microsoft-airtel-tiktok-just-dial-byjus-and-other-companies-are-calling-out-interns-for-different-roles/articleshow/83168022.cms">Microsoft, Airtel, BYJU’S, IIT-Bombay and more — here is a list of companies looking for interns</a> <a href="https://www.businessinsider.in/tech/mobile/news/upcoming-new-smartphones-launching-in-india-in-june-2021/slidelist/83169331.cms">Smartphones launching in India in June 2021</a>

It is not a good idea to compare crypto with gold — here is why

<ul><li><keyword id="6354947" type="UNKNOWN" weightage="20" keywordseo="bitcoin">Bitcoin</keyword> has dropped by 12.5% in the last 24 hours as China solidified its stance.</li><li>Technical analysis of Bitcoin's 14-day Relative Strength Index (RSI) shows entry into oversold levels.</li><li>Despite the short-term massacre, "long bitcoin" is the world's most crowded trade.</li></ul>Bitcoin has dropped by 12.5% in the last 24 hours as China solidified its stance on cryptocurrencies. It has prohibited its financial institutions and payment companies from providing <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite">cryptocurrency-</a>related services. The restriction will make it far more difficult for an ordinary Chinese citizen to invest or trade in cryptos. The country already has a firewalled internet, which makes it easier for authorities to clamp down. The month of May is testing Bitcoin, and its backers' resilience as the <keyword id="6357017" type="DEFINITION" weightage="20" keywordseo="cryptocurrency">cryptocurrency</keyword> has plummeted almost 40% from its mid-April peak. Alarmingly, it's now valued at less than $40,000 per coin ($39,195 as of 12:30 p.m. on Wednesday) -- a massive fall from an all-time high of $64,829. The bearish trend is also visible on other cryptos like Ethereum and Dogecoin. <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite">Bitcoin</a> is the most significant token with a market cap of more than $700 billion. It dominates the race and has become a household name that's synonymous with cryptocurrencies. It's often informally considered to be a generalised crypto index that can be used to gauge industry-wide sentiment. The charts and technical analysis of bitcoin's 14-day Relative Strength Index (RSI) show entry into oversold levels. A fall below the $40,000 also means that bitcoin is testing its average price over the past 200 days -- a milestone it hasn't backtracked since September 2020. China's restriction will hamper the registration, negotiation, clearing, and settlement of digital currencies. The country hasn't officially regulated or banned crypto and has opted for communication via industry bodies. While countries are still evaluating their options, even veteran backers like Elon Musk have taken a step back. Last week, the Tesla CEO announced that the carmaker would no longer accept bitcoin payments as the currency is not safe for the environment. Bitcoin <a href="https://www.businessinsider.in/cryptocurrency/news/elon-musk-realised-that-he-cant-champion-both-renewable-energy-and-bitcoin-at-the-same-time/articleshow/82603087.cms">mining requires</a> a lot of energy, which is generated by conventional methods like coal and fossil fuels. Despite the short-term massacre, a Bank of America <a href="https://www.bloomberg.com/news/articles/2021-05-18/fund-managers-say-long-bitcoin-is-the-most-crowded-trade-in-the-world">survey</a> says "long bitcoin" is the world's most crowded trade. It means that buyers are hopeful the price will rise in the future and that the current depression shall be short-lived. The most popular coin is also getting fierce competition from the runner-up (in terms of market cap) -- Ethereum. According to research house <a href="https://twoprime.io/wp-content/uploads/2021/04/Two-Prime-Inst-Ethereum-Investment-sunday-1.pdf">Two Prime</a>, the Ethereum ecosystem is bound to grow, thanks to its unique capabilities, credibility, and volume. Bitcoin and Ethereum have always shared their trajectory in terms of movement, but this is slowly changing. Ethereum is stepping out of Bitcoin’s shadow thanks to the recent NFT (non-fungible tokens) hype. It finally has a differentiating factor in the public lens. A NFT is a unique asset that lives online and is managed in a digital ledger. Ethereum’s blockchain can support them and even issue a certificate of authenticity. This ensures that any data hosted online isn’t easily manipulated or duplicated. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/xiaomi-oppo-vivo-and-poco-extend-warranties-by-up-to-two-months-due-to-covid-19-lockdowns-and-restrictions/articleshow/82763113.cms">Xiaomi, Oppo, Vivo and Poco extend warranties by up to two months due to COVID-19 lockdowns and restrictions</a> <a href="https://www.businessinsider.in/tech/mobile/news/android-12-beta-how-to-download-and-install-it-on-pixel-oneplus-xiaomi-realme-phones-among-others/articleshow/82760990.cms">Android 12 beta – how to download and install it on Pixel, OnePlus, Xiaomi, Realme phones among others</a> <a href="https://www.businessinsider.in/business/corporates/news/adani-green-energy-to-acquire-sb-energy-india/articleshow/82759578.cms">Adani Green Energy to acquire SB Energy India, boosting its renewable energy capacity by 4.9GW</a>

Bitcoin drops below $40K, but buyers are hopeful that price will rise in the future

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OnePlus cryptocurrency wallet could be in the works, company survey suggests

Rounak Jain

It is not a good idea to compare crypto with gold — here is why

BI India Bureau

Bitcoin drops below $40K, but buyers are hopeful that price will rise in the future

Shivam Vahia

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