De-Risking Dogecoin Investing: Hello Pal Becomes First Public Company with Direct Exposure to Popular Meme Crypto May 27, 2021 - Baystreet.ca Dogecoin, a satirical rival to Bitcoin, may have originated as a joke, but the money it has made people since going on a 30,000% jaunt from $0.0025 in November to as high as $0.74 this month is no laughing matter. That means a $1,000 investment at the bottom turned into $296,000 in six months. Thing is, many people still don’t have accounts that let them trade in altcoins (any crypto not called Bitcoin). Others just steered clear because Dogecoin, which has no utility at this point, is a risky proposition. Anyone looking to public companies for exposure had nowhere to turn. That is until this week when Hello Pal International Inc. (CSE:HP)(OTCQB:HLLPF), a provider of international live-streaming, social-crypto and language learning mobile apps, acquired 51% of Crypto Pal Technology Ltd., a company controlled by Shanghai Yitang Data Technology Co. Ltd. The acquisition made Hello Pal the first listed company with primary exposure to Dogecoin. For those looking to get exposure to the meme-based cryptocurrency without buying it directly, Hello Pal affords a de-risked opportunity as it is tucked into a broader business model. Hello Pal disclosed the plans to take the majority stake on April 19. On Thursday, the company released additional details on the investment, including financial and strategic benefits. The company picked Crypto Pal up for a song, agreeing to pay $3.5 million, broken down into $1.5 million in cash and $2.0 million in units of Hello Pal. For the money, Hello Pal got a 51% interest in the 12,500 mining rigs of Crypto Pal actively mining Dogecoin (DOGE) and Litecoin (LTC). The rigs have a combined hash rate of 6.25 trillion hashes per second (TH/s), which equates to 2.1% of the entire current LTC network hash rate. Litecoin has traded between a range of $40.13 and $413.63 per coin over the last 52 weeks. It’s currently around $200. The 12,500 rigs are spread across a number of locations, a strategy that allows the owners to benefit from seasonal weather patterns and control costs associated with electricity in different regions at different times. Cryptocurrency mining has been widely criticized for its intensive energy consumption while computers effectively create the currency. Dogecoin has been vaunted as more environmentally friendly than other cryptos because it consumes only about 0.12 kilowatt hours per transaction, compared to a whopping 707 kilowatt hours for Bitcoin. Social consciousness dovetails with the ethos of Hello Pal. “Our acquisition of Crypto Pal is the next step in bringing the world closer together and promoting social tolerance,” said Hello Pal founder and CEO KL Wong in today’s news release. “Dogecoin, often referred to as “the people’s coin”, is being rapidly accepted and adopted internationally,” Wong added. HP management expects gains in the Hello Pal userbase and livestreaming services upon integration of Dogecoin. The platform, which allows “gifting” (transferring money to other users, often for livestreaming sessions), is currently being updated for obtaining and using cryptocurrency across the Hello Pal ecosystem. The launch of a beta version of the crypto-centric app as part of the Hello Pal suite was described as “imminent.” Hello Pal’s biggest group of daily active users is in China, but usage is steadily expanding worldwide. The company hopes that introducing cryptocurrency technology will accelerate adoption of its livestreaming services outside China, particularly in less developed countries where volatile exchange rates make it challenging for users to pay with or receive local currencies. Hello Pal has the option to increase its ownership in Crypto Pal to 100%, although details weren’t provided regarding any terms. Yitang will remain the operator of the facilities via a long-term service agreement. Legal Disclaimer/Disclosure: While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our article is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment. Furthermore, it is certainly possible for errors or omissions to take place regarding the profiled company, in communications, writing and/or editing. Nothing in this publication should be considered as personalized financial advice. We are not licensed under any securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this article is not provided to any individual with a view toward their individual circumstances. Baystreet.ca has been paid a fee of thirty thousand dollars for Hello Pal advertising from the company. There may be 3rd parties who may have shares of Hello Pal and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this article as the basis for any investment decision. By reading this communication, you agree to the terms of this disclaimer, including, but not limited to: releasing Baystreet.ca, its affiliates, assigns and successors from any and all liability, damages, and injury from the information contained in this communication. You further warrant that you are solely responsible for any financial outcome that may come from your investment decisions.
De-Risking Dogecoin Investing: Hello Pal Becomes First Public Company with Direct Exposure to Popular Meme Crypto May 27, 2021 - Baystreet.ca Dogecoin, a satirical rival to Bitcoin, may have originated as a joke, but the money it has made people since going on a 30,000% jaunt from $0.0025 in November to as high as $0.74 this month is no laughing matter. That means a $1,000 investment at the bottom turned into $296,000 in six months. Thing is, many people still don’t have accounts that let them trade in altcoins (any crypto not called Bitcoin). Others just steered clear because Dogecoin, which has no utility at this point, is a risky proposition. Anyone looking to public companies for exposure had nowhere to turn. That is until this week when Hello Pal International Inc. (CSE:HP)(OTCQB:HLLPF), a provider of international live-streaming, social-crypto and language learning mobile apps, acquired 51% of Crypto Pal Technology Ltd., a company controlled by Shanghai Yitang Data Technology Co. Ltd. The acquisition made Hello Pal the first listed company with primary exposure to Dogecoin. For those looking to get exposure to the meme-based cryptocurrency without buying it directly, Hello Pal affords a de-risked opportunity as it is tucked into a broader business model. Hello Pal disclosed the plans to take the majority stake on April 19. On Thursday, the company released additional details on the investment, including financial and strategic benefits. The company picked Crypto Pal up for a song, agreeing to pay $3.5 million, broken down into $1.5 million in cash and $2.0 million in units of Hello Pal. For the money, Hello Pal got a 51% interest in the 12,500 mining rigs of Crypto Pal actively mining Dogecoin (DOGE) and Litecoin (LTC). The rigs have a combined hash rate of 6.25 trillion hashes per second (TH/s), which equates to 2.1% of the entire current LTC network hash rate. Litecoin has traded between a range of $40.13 and $413.63 per coin over the last 52 weeks. It’s currently around $200. The 12,500 rigs are spread across a number of locations, a strategy that allows the owners to benefit from seasonal weather patterns and control costs associated with electricity in different regions at different times. Cryptocurrency mining has been widely criticized for its intensive energy consumption while computers effectively create the currency. Dogecoin has been vaunted as more environmentally friendly than other cryptos because it consumes only about 0.12 kilowatt hours per transaction, compared to a whopping 707 kilowatt hours for Bitcoin. Social consciousness dovetails with the ethos of Hello Pal. “Our acquisition of Crypto Pal is the next step in bringing the world closer together and promoting social tolerance,” said Hello Pal founder and CEO KL Wong in today’s news release. “Dogecoin, often referred to as “the people’s coin”, is being rapidly accepted and adopted internationally,” Wong added. HP management expects gains in the Hello Pal userbase and livestreaming services upon integration of Dogecoin. The platform, which allows “gifting” (transferring money to other users, often for livestreaming sessions), is currently being updated for obtaining and using cryptocurrency across the Hello Pal ecosystem. The launch of a beta version of the crypto-centric app as part of the Hello Pal suite was described as “imminent.” Hello Pal’s biggest group of daily active users is in China, but usage is steadily expanding worldwide. The company hopes that introducing cryptocurrency technology will accelerate adoption of its livestreaming services outside China, particularly in less developed countries where volatile exchange rates make it challenging for users to pay with or receive local currencies. Hello Pal has the option to increase its ownership in Crypto Pal to 100%, although details weren’t provided regarding any terms. Yitang will remain the operator of the facilities via a long-term service agreement. Legal Disclaimer/Disclosure: While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our article is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment. Furthermore, it is certainly possible for errors or omissions to take place regarding the profiled company, in communications, writing and/or editing. Nothing in this publication should be considered as personalized financial advice. We are not licensed under any securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this article is not provided to any individual with a view toward their individual circumstances. Baystreet.ca has been paid a fee of thirty thousand dollars for Hello Pal advertising from the company. There may be 3rd parties who may have shares of Hello Pal and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this article as the basis for any investment decision. By reading this communication, you agree to the terms of this disclaimer, including, but not limited to: releasing Baystreet.ca, its affiliates, assigns and successors from any and all liability, damages, and injury from the information contained in this communication. You further warrant that you are solely responsible for any financial outcome that may come from your investment decisions.