Bitcoin - Page 3

5 Most Common Misconceptions About Cryptocurrency

We still have people who do not know that cryptocurrencies have been on the market for more than a decade. Not all of them, of course, but BTC has been around for even more. Despite this, most people aren’t familiar with them, and once they develop an interest, many things leave them confused. In the first years, while crypto indeed was a mystery, myths and misconceptions arose, and some of them remained to this day. In this article, we are going to talk about the five most common misconceptions about cryptocurrency. Could you keep reading and see what they are?

Source:medium.com

It’s Anonymous

These days it is popular to get involved with crypto. Such is the trend. But most people see it as some type of mystery, which grants them anonymity while they mine and trade it. This is not the case. It is actually more of confusion that the term pseudonymity creates with new users. It is because of this that people believe that crypto guarantees their anonymity, which makes a great misconception.

Furthermore, not all crypto’s are the same. One of the most famous ones, Bitcoin, provides pseudonymity because the user’s personal data are not disclosed during the transactions. But, this doesn’t mean that your exchange or blockchain doesn’t know who you are or that this data isn’t available to governmental and financial institutions who look over the legitimacy and security of crypto trading.

What people are actually are looking for are other cryptocurrencies such as Monero and Dash. They do offer their customers with a high level of anonymity and the highest possible levels of security and privacy. Even with all of that, once you log onto an exchange and create an e-wallet, you need to leave your personal data.

Cryptocurrencies are Mostly Used for Illegal Activities

Source:cryptotim.es

Yup, you heard it right. Many people link cryptocurrencies to illegal activities that occur on the other end of the web specter. There are those who believe that you can operate with crypto only on the dark web. Just like anything else in this world, there are people who conduct illegal activities with cryptocurrencies. But, they are few and far between to consider crypto as anything remotely illegal. Most activities conducted with crypto occur on the open market and are entirely legal.

This opinion still lives because people understand the numbers, but percentages not so much. During the last year, the dark web activity, which included Bitcoin, amassed to $829 million in transactions. This is a significant number on its own, but it’s just a tiny fraction of entire BTC transactions that happen during one fiscal year (0.5%). What this means that many other FIAT currencies are used on illegal markets much more compared to crypto. If you want to discover what we’re talking about, just look into how much US Dollars or Euro are represented on illegal markets. You’ll be astonished.

Tokens And Coins Are The Same Things

Source:steemit.com

All of the terms regarding cryptocurrencies are new to most people, and it’s no wonder we have as many misconceptions. Tokens and ICO (Initial Coin Offerings) are not the same. Blockchain has both of them, but coins are only there to manifest the value. Tokens, on the other hand, are much more. They do not only hold the simple value but also intangibles such as income, property, utility, and fungibility. In terms of crypto, the property can both refer to real estate transactions, but also to intellectual property. Tokens are much more broader term that also goes hand in hand with terms such as loyalty points and other commodities that crypto holds.

It’s Untaxable Income

Sometimes this statement holds the truth. There are countries in the world that haven’t out tax on crypto. If you are lucky enough to be living in places such as Holland, Denmark, Italy, or Singapore, you don’t have to pay taxes on BTC and similar crypto. But, despite the lack of regulations right now, it’s only a matter of time when things are going to change in these countries. While there are no established tax rules in some countries, it doesn’t mean you can do whatever you want. It all comes down to what you’re allowed and what you shouldn’t be doing regardless of the regulations.

On the opposite side of the countries, we listed above, you have the United States, United Kingdom, and Australia, where cryptocurrencies are seen as capital gains and thus is taxed. So if you live in the land down under, and want to start your crypto life with bitcoinaussiesystem, don’t forget the taxes. In addition to everything said above, we also have Japan that sees cryptocurrencies as miscellaneous income, and Germany that regulates it differently depending on either you sell, buy, or invest crypto.

Bitcoin is the Only Cryptocurrency that Matters

Source:coindesk.com

Yes, it all started with BTC. It is the oldest and the most valuable cryptocurrency, but it’s not the only one. Thanks to this, it became the most popular one, and it often overshadows the other ones available. It also holds the most incredible value, so there’s that. This is precisely why most people believe that they shouldn’t look further from it. While you won’t do anything wrong, if you focus only on Bitcoin, you could miss on the opportunities other crypto’s offer.

You should also know that due to the limit of available BTC and the fact it has been on the market for so long, it gets harder to mine it. We are not exaggerate anything, but while BTC lives of its old glory, many modern cryptocurrencies have upped their game and today have much more to offer compared to BTC. We should also mention the small matter of price, where BTC is reasonably expensive and provides lower margins of gain for trades in recent times. By now, you must be understanding that other cryptocurrencies such as Litecoin or Ethereum can rival BTC. Maybe not today, but soon. You are probably googling them as we speak.

10 Important Things to know about Bitcoin to PayPal Transfer

Bitcoins are a kind of cryptocurrency which can be sold, bought or exchanged along with being used in buying a variety of things. This cryptocurrency has been gaining more and more popularity since then. There are many interesting aspects of bitcoins and their utility which makes it a topic to discuss.

About PayPal

Source:navegabem.com

PayPal is a means by which you can do various transactions. This is basically a way by which you can make or receive online payments from a personal account or a business. One of the simplest methods to pay via PayPal is entering your debit or credit card details in the PayPal option. Do it when it flashes on your screen while making any payment. You can even directly add your bank details in the PayPal category to proceed with simple payments. However, there is also something that you might not be aware of.

Things to know about Crypto to PayPal Transfer

Source:blog.coinbase.com

If you own some amount of cryptocurrency, it is possible to transfer that in your PayPal account. You can make its use of your future payments. Given below are the 10 important things to know about it: –

  • You must know an important thing about Bitcoin to PayPal transfer. There are no direct ways available to aid in the transfer process. That is, you cannot directly transfer the bitcoins you own into the PayPal account. The layman’s way is to cash out the bitcoins first and then transfer into the PayPal account.
  • For the cash-out process, you would need to withdraw them to your bitcoin wallet. Once you do that, you would need to sell them out for getting the real money against it. For selling, you could consider searching for someone who deals in it. You can look for an exchanger who can offer you a value of money for the bitcoins you own. Another option is that you can sell it to someone who is looking for buying these bitcoins.
  • In 2016 Coinbase announced that transfer conversion of bitcoins to the USD dollars would be available with much rapidness. After moving bitcoins in the Coinbase account, you can withdraw them as USD directly to your PayPal account.
  • The process, though being very simple, requires you to follow certain steps properly. You must have a Government ID for this purpose. During the process, the verification of the ID is completed. Also, it requires a particular amount of fees against each withdrawal, i.e. 3.75% sell fee. This method is one of the fastest, as well as the safest method. You may use it for withdrawing bitcoins as US dollars into the PayPal account.
Image source: unsplash.com
  • The simple procedure of this method includes certain steps. Move the bitcoins that you wish to sell into the Coinbase account first. You will be shown options such as buy or sell bitcoins. Out of these, you would choose to sell for converting it into real currency. Decide on how many bitcoins you wish to convert into the USD. Then, you must enter the number and proceed with the transfer by choosing PayPal as your payout method.
  • There is one more important thing that you must check while making the bitcoins transfer into the USD. You must check whether the exchanger you wish to consider is safe or not. It is indeed necessary for you to do thorough research before you think of relying on any random source. There are fair chances of meeting the scam exchanges too and suffering losses. Also, beware of the fraud exchangers who can potentially steal your password and other personal information too.
  • There are not only one or two exchangers available for converting the bitcoins into USD. If you search on the web, there are numerous exchangers available who deal in bitcoins. Thus, you must choose the best one out of all which suits your requirements. There is one crucial factor, based on which you need to choose an appropriate exchanger. It is to look at the value they are offering you for the bitcoins. Each exchanger would have a different exchange rate. You must consider choosing the one which offers a high rate.
Image source: unsplash.com
  • Reviews are often given by the number of people who have undertaken such transfer in the past. You can refer to those reviews and decide on which would be a better exchanger for you. You must avoid choosing the one which has been given poor reviews by the users. You must stay conscious of the frauds involved. For this, it would be better if you rely on a trusted source. Someone who can provide you with information about Bitcoin to Pay Pal transfer and renowned exchangers.
  • There is another important factor to consider while exchanging bitcoins to USD PayPal account. It is to check whether the exchanger is valid as per the rules and regulations of your country. There will be no point in availing the services of the exchanger who is not allowed in your country. Thus, you must make sure that the particular bitcoin to the PayPal transfer method is valid in your country.
  • There is one wonderful option that you must look at, for getting guidance over converting your bitcoin amount into USD via the PayPal account. It is the one, which is a productive means by which you would get all the details of the various exchanges available. You would be able to see a complete list of exchangers. This includes the ones which offer the best value for bitcoins that are featured on the top.
Source:bitdegree.org

Conclusion

Are you looking for reliability as well as the best value of your bitcoin amount? You would get to experience enormous exchangers here with a different value of bitcoins to real money. Choose the best exchanger depending upon the benefits offered by it. Click here to know more about the wide list of bitcoin exchangers given on the official website of BestChange. Enjoy the best experience of Bitcoin to Paypal transfer. After all, every bitcoin has a gem value, and you should be bestowed with the same!

5 Mistakes All Crypto Owners and Traders Should Avoid – 2020 Guide

Probably the most common topic spoke on the internet portals lately are the cryptocurrency and the predictions for the future of this market. As we are globally heading towards the recession, due to the pandemic of covid-19, more people are thinking of investing in crypto. Mostly because the mining process is being simplified by the appearance of the new cloud hashing possibilities, and the rise of mobile mining. Aside from mining, a possibility to trade this virtual currency on many of the platforms available both on computers and smartphones is quite convenient. You are even able to exchange your digital currency for fiat currency in a matter of minutes in countless of exchange offices, and even on ATM’s.

These digital assets have been breaking records in millions that were invested in them by different people. This all sounds very promising, but owning and trading is not that simple. It requires a fair amount of knowledge and experience if you plan to earn money. A lot of good quality information and reviews about different cryptocurrencies and the market can be found on Kryptomoney.com. In this guide, we provide you with the 5 mistakes all crypto owners and traders should avoid.

1. Not arming themselves with knowledge

Source:quantnews.com

The first and biggest beginner mistake owners and/or traders make is a bad understanding of the market and trading itself. Beginners often think that it is enough to have a good trading strategy. However, this is the reason they almost always lose money. We can compare this to trying to start a company in a sector you know very little about. But you are eager to invest just because everyone else is doing it.

The solution to this problem is quite obvious. You learn as if there is no tomorrow because with knowledge comes results. Beginners tend to read only a few good books on trading and only a few articles before they start trading. They exercise too little and very quickly forget how important knowledge is when it comes to finances! Especially in times like these, when the market is experiencing extreme turbulence.

In fact, beginners usually know so little about financial trading that they often don’t even know where to start. How to avoid the most obvious and biggest mistake of all of them?

By learning, reading, attending webinars, attending seminars, practicing on a Demo account. If you don’t have time, do your best to find it! You never know how long it will take you to achieve constant profitability.

2. Loss of important data

Source:databackuponlinestorage.com

Given the fact that we are talking about a system of very complex mathematical algorithms and mechanisms, such a system is fully understandable only to a part of the public with a high degree of computer education and literacy. Those with less IT education are at risk of making a mistake that can even leave them without their resources. Most of these people are simply turned on by the talks of others and their experiences in the area. Thinking that this could be done by anyone with some spare money for investment, makes them jump on the train. The most commonly reported mistakes are related to the loss of key data and information, the possibility of unauthorized intrusion and theft of keys, as well as unintentional disclosure of key information. Unaware of the possibilities of theft they keep the data about the wallets stored on their phones, exposing them to hacker attacks. Avoid this at all costs.

3. Investing in one currency only

Source:bernardmarr.com

Unlike national currencies, crypto has no firm foothold and is not regulated by monetary policies. Modern markets are volatile, which may result in the affirmation of a new cryptocurrency, which could ultimately lead to the cessation of demand for one particular crypto and thus make it almost worthless.

Investing in more than one crypto, following the stock market – the appearance of the new currencies and the prices of the already existing ones is smart advice you should start practicing even before you obtain your first crypto.

4. Poor risk management

Source:coindesk.com

When it comes to business, risk and rewards go hand in hand in any market. Indeed, beginners in this particular field do not pay much attention to it. Risk management is an essential part that will define your success in crypto trading. You can’t expect to make money blindly by following a trading strategy. When you manage risk effectively, achieving success becomes a reality, not just an opportunity.

Only risk the capital you can afford to lose and nothing more. Believe it or not, many beginners in the market trade capital they cannot afford to lose. This can be disastrous because these markets, like most other markets, such as stocks, are extremely, notoriously risky. There is no guarantee that you will always make money. Losses in trading are part of crypto trading. So, decide when is the best time to trade, and stick to your decision. Sometimes people get hooked and wait too long, never being satisfied with the price they can get. As a result, the price drops even lower.

There is also additional pressure when trading money that you must not lose. You make wrong decisions by trading like this, so try to avoid it if possible.

5. Short term investments

Source:armyofbitcoin.com

There have been many people in the past who thought this is a good opportunity for a short-term investment. They rushed to get a bank loan, invested in crypto, but the price suddenly fell and they were left with a huge debt. Be aware that this market is not suitable for short-term investments. Only the long-term ones make sense in the crypto market. These currencies are prone to rise and fall on a daily basis. If you recognize that a certain currency has the potential to grow in a couple of years, go for it. Otherwise, stop until it’s too late.

The Crypto market is a good trading opportunity. But only if you invest time in reading, analyzing, carefully planning, and observing.

5 Tips Every New Cryptocurrency Investor Must Know

The fact that the number of investors is growing day by day also speaks of the fact that one can make money on cryptocurrencies. This is supported by the fact that there are currently over 34 million bitcoin wallets, and if we include other currencies, we will reach the magic number 50, ie that over 50 million people in the world enter cryptocurrencies. Still, it’s not enough to just prepare the money to invest and think you’ve done most of the work. On the contrary, if you are a serious investor (and we believe everyone is), you must know a few basic things. Well, let’s start from the beginning.

What is cryptocurrency?

Source:monster.com

Cryptocurrencies are virtual money and exist only in digital form. What makes it different is that it is decentralized, that is there is no central authority. It is difficult to say how many different currencies there are, but it is assumed that the figure is around 1,600. Even those who do not know much about cryptocurrencies have certainly heard of the most famous and most powerful among them – Bitcoin. This currency has seen great growth since 2009 when it was released. However, we should not ignore other, smaller currencies, which can bring solid profits – Ethereum, Litecoin, Ripple, and many others. Transactions must take place via blockchain, which means that there is no third party, and this is exactly what makes the transaction secure.

How can I buy cryptocurrencies and where do I keep them?

Source:telegraph.co.uk

You can buy cryptocurrencies in several ways, in exchange offices, peer-to-peer, and the most popular way is through ATM. This is also the simplest way because all you need to do is swipe your credit card and confirm the transaction. This leads us to the next question, and that is – where to store cryptocurrencies? This money, like any other, is kept in the wallet, but since it is digital money, the wallet must be the same. There are two types of nightgowns, and they are hot and cold. Hot wallets require a constant internet connection, so they are often attacked by hackers. On the other hand, we have a cold wallet, which is hardware-software that does not require access to the Internet, so it is safer. But it requires a constant power supply and that makes it a big consumer, and its price is higher compared to a hot wallet. Still, this is about your money and consider this a smart investment.

How do I start investing?

Source:wealth.visualcapitalist.com

First of all, you need to know that there are two ways to invest in cryptocurrencies, and that is trading and mining. For many people, trading is their preferred option because they can make a profit faster. This is supported by the fact that the value of most cryptocurrencies’ changes from day to day, and there are often several ups and downs in one day. On the other hand, we have mining in which the main role is played by accountants – miners, who dig bitcoins. Mining is a great choice for the patient. Those who opt for this type of investment must know that their chances of earning a significant increase if they join a mining pool.

How do I find the right platform?

You’ve probably already heard that many have been deceived. That is why you must find out about a particular platform before you decide to deposit your money there. All he can do is check the licensing and reviews. There are also differences in the minimum role, which is $ 250 on most platforms. Some platforms allow trading in stocks, which makes them useful to those who already deal with it.

What is certainly important to mention is that there are many trading applications, intended for beginners or people who do not want to sacrifice their free time following the market situation, but leave it to the application which, thanks to artificial intelligence does all the work for them. Namely, studies have shown that thanks to artificial intelligence, these applications detect changes in the market 0.03 seconds before humans, which in this case is more than enough time to make a profit. When choosing, it is important to pay attention to the interface, to make sure that everything is clear and that you will find your way around easily.

Check here: https://btc-newstrader.com/.

Beware of scams

There is a high probability that you will encounter a series of scams when it comes to investing in cryptocurrencies. That is why it is necessary to be very empty and prevent at least what you can. Since it is known that hackers are constantly lurking and that everyone who spends time online is at risk of cybercrime, consider an online broker a safe option, because it works under strict regulations. Another thing that may indicate that something is wrong is that your network has become much slower. The fact that there is no regulation under which the bitcoin operates makes investing uncertain. Still, everything is fine until some currency comes in competition with the Government.

Source:fxempire.com

Final thoughts

Those who are just starting to invest in cryptocurrencies must be told not to allow themselves to be carried away by beginner luck. Another important thing is to pay attention to the minimum stake when choosing a platform, as well as whether the platform offers a bonus because most do. It is also important to know when to stop investing, that is, not to invest more than you are willing to lose. And last but not least, you should always invest in several different currencies, so that in case one loses in value, you do not lose all the money invested.

Follow the situation on the market, because it is constantly evolving and growing. Look at buying a wallet or trading application as a useful investment that will protect your money, and will probably double it very quickly!

7 Things You Can Buy Only With Cryptocurrency

So, here we are – you amassed yourself a small fortune in Bitcoin or any other cryptocurrency but don’t have an idea what to do with it? Don’t sweat over it as we are here to help you with these seven things you can buy only with cryptocurrency.

3D Printed Electric Violin

Source:all3dp.com

Let’s start with the most unconventional item. Even the most prominent music instrument enthusiasts wouldn’t remember this. But here we are. 3Dvarius is open to trading with BTC, and you can purchase one of their products with crypto. The violin you’ll receive is going to be custom made, with four or five strings, engraved just for you. The best model you can have from their collection is a high-end, pretty elegant, electric concert violin. The price set on their website is set at $8,150, which is close to 1.1 BTC.

Golden State Warriors Season Tickets

Source:goldenstateofmind.com

Are you a fan of both the National Basketball Association and cryptocurrencies? If so, then we have good news for you. Golden State Warriors are a franchise ahead of their time, and selling tickets for Bitcoin is something they already adopted. They’re trendy with their high temps shooting the basketball and on the financial market alike. Fans who are into crypto and this sport will be thrilled to hear this news. Season tickets are priced at $7,611, which is close to 1.02 BTC. It’s all up to you to take the crypt 3PT or go with passing cash.

Diamonds & Gold

Source:pymnts.com

As you know, ladies can have only one good friend, and they’re diamonds. But, you can also befriend them with cryptocurrencies. Some jewelry is offering their goods available for purchase with BTC and another crypto. REEDS Jewelers were the first to provide this benefit, and if you cash out $25,000 worth of crypto, you’ll even get it transported to your location with an armored vehicle. This jewelry place offers both diamonds and gold, which can be bought for 1.0 BTC. But, all of this begs the question – what shines more, diamonds and gold or Bitcoin?

Tesla Model X Wheel Package

Source:teslarati.com

You must indeed be a man of trends if you have both Tesla vehicles and are trading cryptocurrencies. Both are trending for a while now, and many people have jumped onto the hype train. So, if your car is ready for a tire change, you know what to do with your saved crypto. You can get yourself an entire set for a mere 0.91BTC or 6,800 in American dollars—fair trade, especially if you got your Bitcoin during one of the spikes.

Rolex Watch

Source:youtube

Time is money is an old saying that holds to this day, and nothing screams time more than a Rolex watch. If you are into Bitcoin trading, you know things can change quickly over a short time. So, you might want to watch time passing by on an expensive luxury watch. Overstock offers already owned Rolex watches on a discount price; in a case, you haven’t yet earned a fortune on cryptocurrencies. Rolex for one BTC or $7,450 doesn’t sound bad now, does it?

Other Cryptocurrency

Most people don’t even think of this. Imagine if you managed to get your hands on plenty of BTC, but at one point, you don’t know how to invest further. One logical option is to look to diversify your portfolio by investing in other cryptocurrencies. Not all of them are recognized as BTC, but money can be made out of them. If you don’t know how or where to start, check out cryptorevolt and similar websites as they’ll provide you with help and information you might need for this endeavor. The desire to invest further in crypto needs to be backed by people who are knowledgeable in the matter on hands.

Gucci Coat

Autumn is almost upon us, and there’s no harm in having a coat. If you want it to be high-end styled, you should aim to make it a Gucci one. Don’t look too far as Farfetch is offering them in exchange for crypto. Buffalo leather or lambskin, you can choose, but twill comes with both pieces. Once you have one at your disposal, you’ll know that this coat is perfect for any and all occasions. All you need to do is to part with almost $8,000 or one Bitcoin; it’s all up to you.

Fly to Space

Source:thesun.co.uk

If you want to make all of your friend’s bucket list look ridiculous, add this feat to yours. Yes, it’s going to cost you a large chunk of your hard-earned cryptocurrency, but traveling to space is on another level, almost on another planet. Work hard to make this dream possible. If you haven’t heard of Virgin Galactic, check them out, as they are one of the companies that offer a space journey in exchange for crypto. Not only that, you’ll get out of our atmosphere, but you’ll also travel a bit around our planet. Now, you need to be quite good at earning and stashing crypto to afford this. The cost is no small fly, as you’ll need $250,000, which translates to 33.6 BTC. Don’t worry, you don’t need to have that amount right now, as they are booked up to 2021, so take your time and earn crypto for this purpose.

Conclusion

As you can see, this list is rather impressive, and with a reason – these things are peculiar and can be bought with cryptocurrencies. If you are a crypto enthusiast but don’t know what to do with your hard-earned fortune, take a good look at our list. There’s a bit for everyone, and you shouldn’t be an exception. Whether it is a Gucci coat, a Rolex watch, or space travel, you have it all. Our goal was to cover different spheres of life and interest of various people. We believe that we succeeded. Please, do tell us if we haven’t. This would mean that our list is going to expand for at least a couple of items.

Is Ethereum Becoming More Important Than Bitcoin – 2020 Guide

It can be said that cryptocurrencies are a perfect example of the statement, what goes up must come down. This is something that repeated a plethora of times since the introduction of Bitcoin back in 2009. In fact, the father of all cryptos is a perfect example of this statement in particular since its worth has come up and down so many times that we can’t even count them all. It came from its initial price of $1 in the beginning to almost $20k in 2018.

Source:personal-financial.com

However, this doesn’t mean that it was all the time. Sometimes, it could happen that its price dropped massively in only one day. This is an example that was followed by all other cryptos. But we can see that some of them are more stable than others. Basically, it all depends on the investments and there is nothing that can change this situation.

One of these cryptos many consider to be much more stable than BTC is Ethereum. This is a crypto that emerged a couple of years after BTC, and it positioned itself as one of the most stable ones of them all. It’s so stable that many online casinos have introduced it right alongside BTC, even though it doesn’t have too many users when compared to other cryptos.

Plus, many people don’t have all the answers to what kind of crypto is this and what are its particularities. If you are interested in finding these answers, be sure to check out crypto-profit.io. We are pretty sure that this is a pretty hot topic since so many people are interested in investing in all the digital currencies. So, let us take a look at the case of Ethereum and its relationship with Bitcoin and others.

The Ethereum Basics

Source:sofi.com

The initial idea behind the creation of Ethereum was to expand on BTC’s capabilities and opportunities. The concept is pretty much the same, but we can see that it introduced some of the additional features into it. Vitalik Buterin is a person credited with the creation of Ethereum. The initial idea was created in 2013, and the first version of this digital currency was introduced to the market two years later, in 2015.

As it is the case with BTC, ETH had the idea of completely avoiding all the financial institutions and banks. Therefore, we can complete the same backstory behind it. ETH has two main purposes in this day and age, it can be traded as all other cryptos on the market, or its network can be used to run different apps on it. This makes it a perfect option for many people who are interested in both of these purposes.

What are the Differences Between These Two?

As we’ve already stated, the concepts of these two are pretty much the same. However, it should be said that the main differences are in technical ways. For example, the transaction made by the Ethereum could have some kind of executable code. Anyone, who had a little bit of experience with BTC knows that there is no such thing with this crypto. Also, ETH has some kind of block time, which heavily depends on the transaction. Also, some algorithms are completely different with this crypto.

Also, the initial idea behind these two digital currencies was completely different. For instance, BTC was made with the idea of completely replacing all of the national and regional currencies. Ethereum’s original purpose was to facilitate programmatic contracts and other types of applications through their own currency. So, we are talking about two cryptocurrencies. But their initial idea was completely different from the start.

The Competitiveness

It should be said that ETH was made for the purpose to support BTC and other cryptos through the blockchain system. So, it makes sense to ask a question, why is competing with it? Well, it should be said that its popularity grew so much that it became obvious that it has so much potential, it would be a complete waste of it not to use it. This became a pretty important question, especially from the perspective of traders and owners of digital currencies. But we can see that they don’t have the same capacities. At the beginning of 2020, BTC’s market cap was almost $150 billion, and ETH’s market cap was much smaller, with only $16 billion.

Is Ethereum a Good Choice for Investment?

Source:nairametrics.com

From this perspective, it is pretty hard to say which one of these two is a better investment. The reason is that both of them have completely different purposes. It depends on what you are looking for in the first place. Also, you can be sure that you need to invest much more into BTC in order to expect proper results. Investing in ETH is a really good and much cheaper option. But we cannot say if this is going to be enough for you to have a proper ROI after some time. With having in mind that BTC is still the dominant force in this market, it’s pretty hard to say.

Both of these choices have their pros and cons. One of the things that will help you determine which one of these two you should choose is to see which one of these two you would like to have in your portfolio. Which one of these two will be considered more impressive after some time? Some people would argue that small miners and investors don’t have a future in BTC since a plethora of large companies has started mining and trading. We cannot be certain what the future will hold for both of these. We will just have to wait and see.

The Verdict

It would be pretty bold to say which one of these two is a better option. Both of these two concepts have their own advantages and disadvantages. As we’ve mentioned before, you need to make this decision based solely on your preferences and needs. Thankfully, there are a lot of materials you can go through and learn many things about these concepts. So, start researching and make your decision based upon that.

4 Things Not to Do When Bitcoin is Going Down

Keeping your eye out on the market is a must if you are dealing with any type of cryptocurrency. The most popular one, Bitcoin, can have its ups and downs. However, you should know how to deal with it and approach the market the right way. There are some rookie mistakes that you may end up making. If you wish to avoid those and learn a thing or two more about Bitcoin, keep on reading! We have some interesting facts for you to discover.

What is BTC’s actual price?

Source:freebitco.in

People refer to its USD price most of the time, but you can also talk about the composite price made from the average of multiple exchanges’ prices. If you are talking about BTC, you are actually looking at its last transaction on a specific exchange that has been made. So, if the Bitcoin on Bitstamp is $10,000 – its last trade was done and closed at $10,000.

What is going on with Bitcoin, and why is its price dropping?

It definitely has its periods. In fact, a year ago, it climbed from $3,000 sometimes around in September to $7,850! However, not too long ago, the price dropped low to $5,600.

If you are still a beginner or a rookie when it comes to Bitcoin, visit bitcoin-freedom.com. They have amazing software that will help you earn money in 0.01 seconds. They will also explain some simple steps and basics that will help with your learning process + you will earn money with ease.

Why does Bitcoin drop?

Source:express.co.uk

Its first and initial drop is not as scary and this dive is normal (it happens). The price can move all over the place and every day. However, you should always question any sudden changes, and see if there is a specific reason or meaning.

Top 4 key facts to consider

  1. The fall in November

The drastic fall that has happened in mid-November came after a specific event. This change has happened because of a group of miners. However, Segwit2x tried to create a newer form of BTC for larger blocks.

Unfortunately, the plan failed and loads of people have moved their money to Bitcoin Cash, which made Bitcoin Cash double its value in less than 24 hours. So, always keep your eyes & ears wide open! Read some forums, blogs, and stay on-trend when it comes to BTC, as well as its everyday gossip.

Source:news.bitcoin.com
  1. Never try to catch the exact bottom

When making your profit with BTC, know when to stop. You should let only some of your investment capital as the market takes a tumble. Never go all in. If there is a large dip in the market and you start at a coins chart, you never know when it can stop. What you should do is know how to stop and when not to catch the bottom (enter into a trade that is at the bottom of a trend). Know when to stop, since constant bottom chases mean that you are going to miss out on trades, which will further lead to no profit. Do not gamble, and don’t lose it all.

  1. Don’t sell your coins for ones that are going up

People often sell their coins of a downtrend, only to see if things will reverse and start going upwards. For instance, you can buy something for 0.25 cents. You have already done your diligence, studied, and spent a lot of time on the chart (one char in specific). You probably haven’t even tried to catch the bottom since it is a time-consuming process. After some time passes, you are still at your 0.25 cents, and then these cents will tumble down to 0.20 cents. At this point, you might want to sell your coins and make any type of profit since this is a tricky & long mind game. However, BTC can skyrocket (you never know when) and you might regret your decision since you could have tripled your earnings.

If you have already done your studying, you know everything about the money that you’re working with, and you know that there is a chance for the market to change, stay persistent & wait it out. Don’t lose it under the pressure, and rather give it a fair shot.

Source:dmarge.com
  1. Don’t spend your entire day staring at the chart

Try not to spend your entire morning, day & evening staring at the chart. It won’t change just by you looking at it. Most of your hours are probably going to be wasted. Do not just monitor your work and stay passive, but do take action! What you should do is set yourself a limit-order, and simply walk away once it is the right time. Be smart with your money, your spare time, as well as your screen time.

Remember that profit only begins with the right strategy, and if you don’t have it, you are gambling with your money!

But why does the price fluctuate as much?

Bitcoin’s price is volatile. This means that you can see its movements from 5-10% in a single day, which makes its tracking hard to do. Why is this happening? Well, Bitcoin’s market cap is still quite small, and it is still a newer market to work with. If the market cap has as little assets, the more volatile it will be.

When Bitcoin’s price increases you will notice a change (gradual change) in the market cap.

Ready to make money & avoid some mistakes?

So, how do you feel about cryptocurrencies and your money-making skills now? Are you ready to dive into the world of Bitcoin? Simply follow these crucial rules, and avoid doing and making some rookie mistakes. Everyone can profit with Bitcoin, as long as you know when to stop + if you have patience. Having a mind of steel is important since only people who can wait it out and wait for its peak will make money, and will profit in the long run!

3 Reasons Why Bitcoin Price Could Crash in 2020

Three weeks ago, Bitcoin climbed to over $12,000 only to crash in a matter of minutes for $1,500. Investors got chills from such a huge plunge in a short time, and many are now questioning whether or not Bitcoin is able to maintain its value, or if the crash is inevitable. While the coin was taking a dive, 72,000 people decided to quickly sell their Bitcoins which brought down market capitalization from $214 billion to $208 billion. This may not seem like a big deal to ordinary folks who have no investments in digital currency, but in the currency exchange market circles, this is all investors talk about. Bitcoin seems to be justifying the suspicions that followed it from the first day, and now many are in doubt whether to keep the coins or cut their losses and run.

Source:forbes.com

Safer alternatives

This is a second hit for Bitcoin since the beginning of the pandemic back in March when it crashed to a value of a little over $4,000 for 1BTC. The currency is still standing and despite everything, is looking good with the little change for the past couple of weeks, but the traders are not so convinced. Many are questioning their decision to buy coins instead of gold which gained over 15% in value in the past few months.

Speculators are already rumoring that Bitcoin should be converted into more stable assets, with gold topping their choices. However, there have been some good predictions about Bitcoin circulating, like PayPal offering payments to its users in BTC, and Bloomberg suggesting that the coin could hit a $14,000 mark by the end of the year. Still, others seem to be scared of to further invest in an unstable currency and are looking for other sources and potential stakes.

In the last couple of years, investors have been at odds whether to keep Bitcoin or sell and invest in something else, namely gold. The price of gold spiked recently, mostly due to the banks stocking up on the assets, and being cautious since Federal Reserve started printing a lot of money to minimize the pandemic crisis. Will the gold manage to keep the trend of rising or is it just a temporary thing, only time will tell. In the meantime, speculators are buzzing about the weakened American dollar pointing out that it’s the best time to make gold reserves.

Source:express.co.uk

Domino effect

Major banks are suggesting that the market is about to crash which can pull down cryptocurrencies among other markets. One of the main reasons why Bitcoin is maintaining stability and value to some degree is the demand from Chinese investors through Tether. Tether is a US dollar-backed coin that was highly controversial since the creators claimed that every coin is backed by $1. In 2019 this all blew up and the Tether developers admitted that the coin actually was backed up by US dollar and loans. This “loan” part made it unstable and undesirable among investors. So, back to the Bitcoin. Currently, its value is closely dependent on the demand, if any, from the Chinese traders. If they decide at any point to move their investments into hedge funds, Bitcoin might lose the legs it’s standing on, and go down with the rest of the companies on the market.

Billionaires and some millionaires on the Wall St are wary of further investments until the markets are stable again. Many companies are struggling to remain liquid while the pandemic is still in effect. Big players on the New York stock exchange were not favoring Bitcoin even before the coronavirus crisis started saying that the currency that is backed by thin air is doomed. Today, investors are backing out of deals that they otherwise would not, and investing in cryptocurrencies right now is not even an issue. Truth be told, major investors are not thinking about investing in anything right now, but rather are just looking for ways to strengthen their hedge.

International Monetary Fund issued a statement saying that no one can predict with a decent amount of certainty how exactly pandemic is going to influence the markets. Uncertainty is not a friend to the investors and traders, and they tend to stay away from spending on fluctuating investments like Bitcoin. Pandemic completely disrupted trading, and no one can predict how it’s going to behave in the months to come. Because of this high net worth investors are laying low, trying to save their investments, and not making new ones. This could bring a market to a standstill and eventually crashing. When Federal Reserve started injecting more money into the economy to cover for all stimulus checks to boost consumerism and revive job markets, it sent the signal to banks and investment funds that the markets are in dire straits. This made investors put the hold on all investments and hold on to see new developments.

Influence of the stock markets

Source:investopedia.com

In the past year, every time Bitcoin came close to breaking an all-time high of $10,500 it suddenly dropped for a few thousand. This is a vicious cycle that keeps repeating itself. Even though Bitcoin is not backed by any asset, and is not controlled by any government, the stock markets do impact its value. Bitcoin is all about being not influenced by the movements of the traditional markets, but somehow it gets dragged under every time stock exchanges go under. So, we can determine that Bitcoin is not tied up to anything, but it is affected by the value swings of the stocks.

Will Bitcoin crash along with stock exchange? No one knows for sure. If you decide to invest in the current environment you should be more careful than usual. Stock exchanges around the world are struggling to keep moving, but the reality is that the major economies are on their knees. Maybe Bitcoin will survive one more crisis as it did before in the past, although many predict that it will be pulled down along with other stocks. In any case, do your research and get more information at https://infinitytrader.app/ before you make any moves that can cost you dearly.

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