blockchain technology Archives

5 Things To Know About Cryptocurrency Exchange Fees

Published on March 7, 2021

Business

Not a day goes by that we don’t hear or read some news about cryptocurrencies. Even though when it all began, back in 2009, there were only a few dozen people who really invested their time, money, and passion into digital money, today, even the skeptics are more and more becoming a part of the crypto community. There are many benefits of this new, decentralized currency, and one doesn’t need to be an expert to trade and follow the latest crypto trends. Of course, some basic knowledge is a must in order to make profits, but knowing everything about blockchain technology is not something that should occupy your mind unless you already have some experience or have a deep interest in learning about all that. On the other side, knowing how things work, what and how exchange platforms operate, and how carefully or risky, depending on your preferences, you should invest your money should be a part of your daily routine. Like in any other type of investment, research is everything, and if properly done, the future will look bright. Even with all that, there are always some things that are changing or that you may not be aware of, like crypto exchange fees, and how come they are much lower in comparison to other charges. That is why we will now take a closer look at the top 5 things to know about exchange fees, as it is something that everyone who wants to be a part of the crypto world should know about. For those who require even more info on this topic or want to start trading right away, of course, anonymously, check Godex.io, one of the most reputable cryptocurrency exchange services currently on the market.

1. The way it is calculated

Let’s start with exchange platforms and how they operate, as there are two basic types, and one of the main differences is how they calculate the exchange fees. While some of them have a strict policy of charging a certain amount for every single transaction you make, other platforms charge fees on a monthly basis. For those wondering how that works, after the thirty-day period, some predetermined percentage is being calculated, depending on the number of your transactions and on the spent amount. Although it may sound complicated, it is actually pretty easy, and as many experienced crypto traders state, it is a much easier way to trade. Of course, this is up to every single individual and what suits their purposes the most. As for how high the fees are, it all depends on the platform itself, and there is no real difference between these two types of charging them.

2. Exchanges are not regulated everywhere

It is necessary to keep in mind that the exchange of cryptocurrencies is not regulated in every country. Actually, many jurisdictions do not have laws when coming to those types of transactions. For many governors around the globe, the hands-off strategy to those transactions is the best way to keep using them. In that way, there are still cryptocurrencies in many significant trading markets. A patchwork of laws in the US is obliged for most of the transfers and for the biggest markets for crypto trading. It is good to know that some countries are completely banned all cryptocurrency trading and inform yourself well before you decide to finish any trade. Anyway, many dealers from those countries are finding other ways to continue trading, and one of them is moving the base to a country with better conditions.

3. Trading with fiat money

Using real money for crypto exchange is something that can make transactions much easier. Regarding the payment mode, the deposit and fees can be incurred by the fiat currencies. The best thing about using the coins is that the purchase is free, and that means that there are no expensive fees and unpredicted costs. It is sometimes possible that you need to pay some small amount of money in case that the wallet needs to be set up for the new currency, but the fact is that it is not something that will give you a huge bill. Because of that, one of the best solutions is to use coins and avoid losing more money than you need to.

4. There is no access to all coins

The majority of the most famous cryptocurrencies are not offering a possibility to use all the coins that you have in your wallet. Therefore there is the possibility of transferring the funds to the other wallet and use them for the next transfers. The other alternative is to use fiat money and buy the currency you need at that moment. There are many cryptocurrencies that you can buy only by using fiat money, and getting them using the other crypto is not possible for now. Luckily, many of them are offering the possibility of importing the coins from other wallets. In that way, it is possible to finish the desired transaction, and charges for shifting between various wallets are not that high. But, you should know that those fees will be charged at each end.

5. Encouraging frequent trading

Trading cryptocurrencies means big transactions that can be worth more than thousands of dollars. Because of that, fees are created in a way that will encourage more frequent exchanges. That means that if the amount of the trade money and the frequency of trading is increasing, the fees will often decrease to encourage people to trade more. Small and trades that are not frequent will bring you a lot of extra costs, and it is best to avoid them. On the other side, some big exchanges may be done without any fees, and it will save you a lot of money.

The bottom line

Although the crypto world is constantly changing and advancing, and in order to always be in the loop, proper research on a day-to-day basis is required. That is why research along with these top 5 things that everyone considering dealing with cryptocurrency exchange platforms should know about before they start trading should be on every crypto enthusiast’s list.

4 Reasons Why is Bitcoin’s Price At An All-Time High

Published on February 21, 2021

Business

While it has many ups and downs in recent years with the high volatility of Bitcoin, where the best example is the year 2020. The price was only around $5,500 in the first quarter, while it started breaking records at the end of the year. The current value of this cryptocurrency is around $50,000. Various factors are influencing the value of cryptocurrencies on the market. When it comes to the market, it is getting more and more popular over time, especially because of the BTC and other popular options that are on the rise as well, such as Litecoin, Ethereum, Ripple, and more. You can click here to learn more about BTC trading.

Also, we have to mention the advantages that the global economy and various industries can have from implementing blockchain technology. For example, there is a great benefit of using decentralized cryptocurrencies since you can avoid expensive fees when making transactions. The security is much higher as well. On the other side, the main reason why people are interested in buying coins and tokens is that many of them have a great potential to become more valuable over time. Bitcoin is the best example since you could make ten times more than your investment if you bought it only a year ago.

Moreover, it is very important to learn about different factors that are affecting the prices on the market. These factors are related to supply and demand, economic situation, technical features, official regulations, and more. In this article, we are going to analyze more about the main reasons why Bitcoin price is so high at the moment.

1. It Became Widely Accepted

While there were many misconceptions related to Bitcoin in the first few years after it got released on the market, we can notice that a lot of companies starts to accept this digital currency. Big corporations like Amazon and popular platforms like eBay and Ali Express are the biggest names that are still not interested in accepting this payment option. On the other side, we can see a great expansion of businesses where you can pay by using an e-wallet. The most recent company is PayPal. Also, a big influence is caused by a huge investment of Elon Musk, who bought around $1.5 billion worth of Bitcoin recently. There are other big names as well, and they represent an important factor for the increase in value.

2. Halving

Another important factor is the fact that the number of BTC is limited. When the process of mining is finished, there will be 21 million of these units. Also, this process is getting more complicated over time and requires more resources. During the first few years, people could mine BTC on a basic PC. On the other side, the cost-effectiveness of this method is questionable and related to various factors like the cost of electricity, hardware, and more. Furthermore, the fact that there is a limitation is affecting the rise of value since there is a chance for this currency to become stable in the future and completely replace current payment options.

3. Positive Predictions

According to many experts, the price will probably continue to rise, which can attract even more people to invest in it. The high demand is also the reason for the sudden increase in value, and it seems that it will remain stable without any critical drops that we could see last time when it started breaking records in 2017. Large investors are investing a lot of money in BTC, which is one of the causes for the rise as well. Moreover, there is a great possibility that the world is going to face another economic crisis like the one in 2008. Investing in virtual assets represents an excellent method for the protection of funds since cryptocurrencies won’t be negatively affected by the recession.

4. Simplicity

Since people are becoming more interested in blockchain technology and the ability to use an e-wallet for payments, we can see an increase in people who are converting their fiat currencies and use e-wallets as a standard way of payment. That is very important for the stability of this currency since it will be more active in standard flows of money on the market. Also, this makes the market of cryptocurrencies much different from Forex where the risks are much higher today since there is a chance for the crash of the stock market. On the other side, the main reason why people are using digital wallets is the convenience and security. You can now transfer money to any other address without the need for a third party during the process. Therefore, it is a much cheaper option than banking services.

The Bottom Line

A lot of people are still suspicious when it comes to the price of BTC in the future. However, the fact that many big corporations are now investing in it is a clear indication that we can expect an even higher value in the future. Many countries are already planning to introduce new regulations where they could charge people with taxes on transactions made with cryptocurrencies. The best example that it is already a widely accepted option is the number of ATMs with crypto support all around the world.

For many investors, buying BTC at this moment seems too risky since they fear that there will be the same case as with the previous record-breaking rise of it, and significant fall after that. However, the current case is much more different since there are more serious investors active in this market. Some experts are even predicting that the price of it will reach the value of over $100,000 in the next few years.

Considering all of the factors that could represent an influence on the market of cryptocurrencies and the huge demand for BTC, it seems that the chances for some sudden drop in value are very low. Therefore, you could still make a profit even if you buy it these days when it is reaching new levels in value.

6 Podcasts Every Crypto Trader Needs to Follow in 2021

Published on February 10, 2021

Business

Cryptocurrencies are getting more popular in recent years, which is not such a surprise considering the rise in values of some of the most popular options. This model of virtual money represents the future of transactions and offers many benefits when compared to the current financial system. For example, a high level of security and anonymous transactions cannot be intercepted or controlled by any authority. Also, you can avoid high fees that you have to pay in the banking system, which is especially good when you want to transfer the money to someone from another country. The ability to use an e-wallet for payments is especially useful for online services.

On the other side, one of the main reasons why blockchain technology and cryptocurrencies are so attractive to investors is because of the high volatility on the market, and many of them might bring them huge profits over time. The best example is BTC, which is reaching new records in 2021 with the current price of over $45,000. If you bought it only a year earlier, the profit would be ten times bigger now. If you are interested in trading with Bitcoin, visit btcloopholepro.com.

Moreover, besides the BTC, there are many other trading options with great potential to provide you with profit over time, such as Ether, Monero, Dogecoin, and more. There are over 2,000 available units on the market. However, it is not so easy to select the right one since only some of them will continue to grow in the future. Also, you have to be aware of various factors that are affecting the prices of cryptocurrencies like supply and demand, efficiency, speed of the system, and global events like recession, official regulations, and more. Therefore, the best way to learn more about the whole market is to read analyses from experts or to listen to their podcasts. Here are some of the best podcasts related to the crypto market in 2021.

1. Hash Power

While most people have already heard about blockchain technology, many of them are not so familiar with this system and how it works in practice. A lot of people would choose to invest in popular trading options, but getting advanced knowledge about them could make the trading more efficient. Therefore, if you don’t know much about this system, we suggest you check one of the first podcasts related to this topic, the one lead by Patrick O’Shaughnessy, where you will get the basic knowledge about the technical details.

2. BTC Audible

Since Bitcoin represents the most popular option, we assume that you will be looking for a podcast that will explain to you more about the first digital asset. In that matter, you should look for Guy Swann and his Audible, where you can learn more about the advantages that you can get from using an e-wallet as a standard way of payment. The main advantage of this channel is that you can learn more about both technical specs and global factors that are affecting the future of this virtual currency.

3. The Pomp

The host of this channel, Anthony Pompliano, will introduce you to big names who began to invest in the crypto market. The most interesting part is that you will find out about some successful people who were claiming that this market will never become stable and that investing in Bitcoin and other digital assets is not effective in the long run. However, many of them have changed their opinion. The most recent example is Elon Musk.

4. What Bitcoin Did

In this series, you will learn more about the rise of BTC and how it affected the whole market of cryptocurrencies. The main reason for creating the blockchain system was to find a way to avoid the banking system that was collapsed under recession in 2009. This topic is especially popular these days since there is a high chance for another recession caused by the lockdown measures during the pandemic. Also, you will hear some examples where people managed to determine the right time for investing that brought them high profit. Peter McCormack, who is the host of this podcast, is also interviewing many successful people in this branch.

5. Unchained

This is a great option for people who just started trading with coins and tokens. Laura Shin is a well-known expert, and she is interviewing many people with a lot of experience in trading. The main advantage is that you might find out more about some factors that might determine another crypto to have the same success as Bitcoin. Many people are looking for that option since there is a chance that some other unit could become even more popular in the future, and you should determine the right moment to invest in it.

6. The Breakdown

Since this podcast is brought by Coindesk, which is one of the most popular trading platforms today, you can get reliable information and the most recent news about the regulations, changes of value, predictions, security, and more. You should follow this channel more often since it is sharing all of the most important data about the crypto market. The host of this podcast is Nathaniel Whittemore.

Last Words

It is essential to get more information about any trading asset because that might improve your chances to select the right one and become more efficient as a trader. However, there is a big issue related to the crypto community where you can hear all kinds of stories. While some are predicting the crash of this market, the other ones are claiming how some digital currencies will reach some huge prices in the next few years.

Therefore, it is very important to follow only reliable people with a lot of experience with blockchain technology. In that matter, listening to these podcasts will help you to understand the potential of the blockchain system, what is causing the rise and fall of prices, and what can we expect in the future when it comes to this advanced method of payment.

6 Sings Your Computer Is Secretly Mining Cryptocurrency

Published on January 17, 2021

Computing

While blockchain technology represents one of the safest ways to secure and keep your funds, hackers are also trying to keep track of the most recent technologies and security measures to try to find a way to bypass high levels of security. In that matter, it is very important to earn how to store your Bitcoin and other cryptocurrencies most safely. The safest method is to keep them on your e-wallet, especially offline ones while choosing to store them on some online platform like crypto exchange might bring some risks. There were already some cases where thefts managed to steal millions from online crypto platforms. Also, you should beware of unknown sources when it comes to trading websites as well. You can visit techround.co.uk to read more about the important factors that you should know before choosing the right online exchange.

Furthermore, we have to mention cryptojacking, which is one of the most recent methods that hackers are using to exploit sources of other people to mine cryptocurrencies. They are using various methods for this technique. Some of the most common are malware files that can start using your PC for mining and adding a code to your website. The main issue is that you might not notice that on time. Here are some of the best ways to find out if someone is secretly mine cryptocurrencies on your computer.

1. Overheating Hardware

Hardware is the most important part of the mining process, especially the graphics card. Since the mining process is getting more difficult over time, people need more resources for the efficient creating of blocks of codes. That is especially important for Bitcoin. Today, we have big mining centers where miners are combining hundreds of mining rigs for more efficient processes. However, some of them might try to use some alternative ways to get enough resources, and sharing malware files is one of them. The blockchain coding requires high spec hardware, and you could notice that something is not right with your PC in case it starts overheating even when you are not running any demanding operations on it. That is the sign for checking all of the files and look for malware and viruses.

2. Inspect Your Websites

Another method is adding a secret code to your websites where they could use the resources from the server to create blocks of codes. The best way to find if someone is using your websites is to check their performances. Additional files and codes that are not part of your online platform could make it become much slower, which can have a negative effect on your business by making the clients less attracted to your website.

3. Scan You PC Regularly

The main issue with this type of cyber-attacks is that most standard antivirus software’s are not able to detect this type of malware. In that matter, you should try to find some advanced options that could detect unauthorized blockchain processes on your computer. Moreover, you should check all of the files in your PC and if you notice that there are some unknown processes in your system, that might be a sign for this issue.

4. Lower Performances

The most common indication that someone might be using your resources for mining is if you notice that your PC suddenly became less capable of opening advanced programs and video games. It is quite useful to know that this method of cybercriminal exists since many people would think how they should replace some of the hardware, while the issue will continue after that as well. The main problem is for business where computers are connected, and hackers might easily infect all of them by reaching to one unit.

5. Check the Usage of CPU

Another method that can help you to check if someone is using this method is to monitor the processes run by the CPU. You can easily check that by opening the task manager and see if some unknown programs are using a lot of the memory and processing power. Moreover, you should know that hackers might activate unauthorized mining even after you visit some websites. That is another reason to avoid unknown sources.

6. Learn More About This Issue

As we already mentioned, hackers are trying to find new ways to add malware files and exploit your resources in their favor. Therefore, you should stay informed about this problem by reading news on relevant websites like Today on Chain, Coin Desk, and Crypto Slate, which are platforms where experts in the word of blockchain are providing people with the most recent news about cryptocurrencies, advanced security measures, potential threats, and more.

How to Avoid This Problem?

First of all, being informed that this method exists is the best way to avoid it by learning more about the ways to avoid getting malware files or visiting suspicious websites. Also, if you own a company, you will have to educate your employees about this issue. For example, you will have to explain to them the importance of using the PCs in the office only for professional matters. Nevertheless, you can use an additional measure of protection by installing the anti-mining program in the browser. Another method is to add ad block into the extensions of your browser. One of the best ways to stay safe while browsing the internet is to turn off the JavaScript that will prevent hackers from entering the mining code into your software.

Conclusion

As you can see, even the blockchain technology that is one of the safest systems for storing data and making transactions today have some risks from cyber-attacks. Therefore, you should always pay attention to keep the password of your e-wallet safe and avoid any suspicious files and websites while on PC. Even though they are not able to steal anything with this technique, you will struggle with lower performances and even get higher electricity bills at the end of the month. In that matter, be sure to learn more about all of the methods they are using to trick people and find a way to improve the levels of security.

How to Get Free Bitcoins Without Mining

Published on January 15, 2021

Business

Modern times bring modern solutions and possibilities, and today, when almost everything is online, it is nothing strange to earn money that way, especially with so many options available. But the question that crosses the mind of most people is how to make money, still have that valuable free time, and have a stable income. Well, one way to achieve all that is for sure, investing in cryptocurrency. Although some may say that the cryptocurrency market is still unstable, and no one can predict what will happen in the future, for more than a decade now, the cryptos are proving even the worst skeptics’ wrong, reaching new value high, and that doesn’t seem to end soon.

When we solely focus on the price and remember that the BTC started with the value of around $0.001 for one Bitcoin, and look at that value today, it is clear why more and more people are turning to cryptos – the money of the future.

One of the main concerns regarding new currencies was the security of both our money and our personal data. But as time has proved, there was no need for that, and as the creator of BTC said, “With e-currency based on cryptographic proof, without the need to trust a third party middleman, money can be secure and transactions effortless.” It is just one of many of his lines that have proven to be right, and for more of that and for more interesting news on the successful and influential women in blockchain tech, check www.readersdigest.co.uk.

Many crypto enthusiasts simply do not know how to start earning money on Bitcoins from scratch, and they believe that it is too late to enter this market. But there is no need for that way of thinking as these assumptions are so incorrect.

Everyone who already had any amount of BTC in their possession can witness that making money from cryptos is not a myth but a serious and time-consuming business that consists of logic, information, and, of course, intuition.

All these are just some of the reasons why today it seems like everyone wants to start dealing with digital money, especially with Bitcoin. But the wrong assumption is that since its price is pretty high, not everyone can join, and with enough research, and most importantly, patience, there are still several ways to do so. More importantly, it will not cost that much, and for those who don’t like the idea of mining cryptos, there is no reason to worry, as it is not about that. Want to find out more? Just continue reading.

1. Earn BTC by completing different tasks

If you want to start earning BTC without any financial investment at all and have some free time to visit specific sites and watch some ads, this is the ideal way to start. The only thing to do is to do some research before you start to make sure that there is a regular payment, which you can easily do by checking the user reviews. It is an excellent way to earn cash, even when you are relaxing.

2. Bitcoin faucet

Quite similar to the first one, but here, you will not just watch various ads but also participate by completing many surveys on many different topics. It is quite an easy thing to do, which, of course, doesn’t involve any investment at all.

3. Write about Bitcoin

How many times did you come across articles that look pretty much the same? That is nothing strange since this is still a pretty new niche, and there are not so many people that know this crypto world quite well to be able to do so. All that is a reason why writing about Bitcoin and cryptocurrency overall can be pretty profitable. So, for those who are familiar with how it all works, know their way around exchange platforms, and understand (at least a bit) the blockchain, go ahead and make money with that knowledge.

4. Gambling

Although it is not recommended for everyone, if you have a reason to believe that you are good at it, then you can actually earn coins this way. There are plenty of websites where one can gamble and try to get some free BTC, but be aware that those who are quite well at it play as well.

5. Bug bounties

Searching for flaws and vulnerabilities in companies system can be very profitable, and those who are good at that can get paid in Bitcoins.

6. BTC tips

Being kind and helping others can be beneficial in many ways, and it will not only increase your sense of life satisfaction, but you could also get tipped. Many notable sites have this incentive where you can get a tip in Bitcoin for helping others with various tasks. What a great and fulfilling thing to do.

7. Accept BTC as a payment method

The first thing to know is that you can start accepting BTC as a payment method pretty easily, and by choosing to do so, you can wider your reach, speed up the whole payment process, and get paid in coins. Those who choose this can accumulate the funds and wait for the BTC price to go up, or use the funds for further investment.

8. Lending BTC

Lending money and getting an interest rate is nothing new, and since the cryptocurrencies are decentralized, the transactions are much faster as no one needs to validate it. If you already have some Bitcoins but don’t want or don’t have time to trade, lending money via several notable sites is an excellent way to move that money around without the possibility of losing it.

Conclusion

Blockchain technology is in great demand today, and since that’s the case, many investors believe in cryptocurrency and Bitcoin and want to invest in them. As many experts believe, this is something that will replace the financial system as we know. The fact that there is free BTC all over the net and that you don’t need mining to get it is a reason more to start dealing with cryptos, and these eight ways to do that without or with a small investment, is a great way to start. Let the crypto adventure begin.

13 Tips For Understanding Cryptocurrency Terminology

Published on November 25, 2020

Business

We are all aware that cryptocurrencies are something that we all talk about and that growth of popularity has created a real mess, not only among people but also among banks, companies, and even entire countries. Along with new technology, some new words, expressions, and terminology is being used, which many people find confusing, even those who are familiar with how the whole system works. All that is a reason more to show and explain how and what some terms actually mean, with a brief crypto history.

What are cryptocurrencies?

Imagine the currency not issued or overlooked by any state or government and which uses cryptography for the protection and security of everything going on and every transaction. Simply put, that is what they represent and why so many people are interested in these new currencies. A proper definition would be that cryptos are a subset of digital, alternative, and virtual currencies.

What is Blockchain technology?

Unlike fiat currencies that we currently use in our everyday life, and where control is centralized, blockchain technology (a type of cryptography) allows cryptos to be decentralized. That ensures that all info, personal data, and everything else cannot be changed easily, meaning that money is safe.

The market

Although it is only one of more than 1.400 cryptos available in the world, when someone mentions cryptocurrency, the first and instant thought is – Bitcoin. But since it all began in 2009, this world has changed and developed a lot, meaning that today, the crypto market is one with the highest growth, and it seems like that hype will not end soon.

In that market, the term ICO (Initial Coin Offering) is pretty similar to the term IPO (Initial Public Offering). IPO represents the first shares of one company when that company goes public, and ICO refers to the first cryptos sold by one company on the market.

Terminology

1. Mining

It is the process of verifying an individual block of transactions in the network. What this often requires is a large amount of processing power, and for this process, miners are rewarded with a certain amount of mined cryptocurrency.

2. Block Reward

As we established, the miners have a huge role, and as such, they get rewarded for their work. That reward is also a motivation, and it represents a specific amount of cryptocurrencies for every block they mine.

3. Mining rig

It represents the computers specifically designed to verify transactions in blockchain cryptocurrencies such as Ethereum or Bitcoin. Such computers are usually several networked processors (CPUs) or graphics cards (GPUs).

4. Fork

It is a situation where a cryptocurrency gets split into 2 different currencies. This most often happens due to the change in the encryption protocol or some other technical characteristics. Then the newly created protocols are no longer connected to the previous ones in the blockchain, and a new transaction record is formed – a new cryptocurrency. Example: the division of Bitcoin into Bitcoin (BTC) and Bitcoin Cash (BCH) in August 2017.

5. Altcoin

It represents a term coined to say alternatives and a coin that actually applies to all cryptocurrencies except Bitcoin and Etherium.

6. ROI – Return On Investment

ROI refers to the percentage denoting the profit in relation to the initial investment. Example: A ROI percentage of 100 indicates that someone has doubled their initial investment.

7. Node

NODE refers to any computer on which a blockchain file is stored. It is a computer that contains information about all transactions in the network.

8. Hashrate

This is the number of calculations that your equipment can report every second while trying to solve a math problem. “Hash rate” is measured in megahashs, gigahashs, and terahashs per second. The higher the hash rate, the better are the chances that you will solve the transaction block.

9. PoW

The term refers to a system designed so that finding an answer to a problem is hard or/and expensive, and varying the solution to a problem is simple or/and inexpensive. In particular, these are different mathematical algorithms that are solved by mining, which provides protection against various hacker attacks on the cryptocurrency network. The miner who first confirms the block of transactions by performing proof of work is rewarded with the amount of that cryptocurrency.

10. PoS

It is a different way of confirming transactions compared to PoW, but it is still a mathematical algorithm aimed at network protection. In proof of stake, the creator of a new block gets determined not based on who first establishes the block but on the basis of deterministic variables such as the wealth of an individual user, which is defined as stake. There are no block verification rewards, so miners receive transaction commissions directly.

11. Private key

It is a set and combination of numbers, letters, or characters used as a code in algorithms in order to generate user addresses. Based on the info from PK, we can determine every transaction and the exact amount of money in the account of that key.

12. Wallet

A place to store your coins. There are two types of wallets:

Software – where one uses special programs to storage money like various apps, but there is no app in which you can store any cryptocurrency as every single one has their own software wallet.
Hardware – A USB-like device specially designed and programmed to store the private key securely. These are often referred to as the safest way to store your digital money.

13. P2P

Transactions done this way are a perfect way to decentralize everything, and that is why P2P has a crucial role in the digital world.

Final thoughts

Of course, there are even more phrases, usually depending on which cryptocurrency we are talking about, but these are some of the most common terms that someone may come across when dealing with cryptos. Today, when there are so many verified websites that can actually help with understanding the crypto world along with some excellent advice for trading and investing, there is no reason not to join the crypto hype. Check for more here, https://bitcoins-union.com.

Where Is the Cryptocurrency Industry Headed In 2019?

Published on January 10, 2020

Business

Since the first cryptocurrency appeared in January 2009, this new industry has taken a very interesting path. From very little value at a price that literally didn’t interest anyone to nearly $20,000, Bitcoin has evolved and influenced many other areas such as finance, trading, or technology industries. Bitcoin also initiated the creation of numerous other cryptocurrencies called altcoins.

Today, we can talk about the various advantages, features, disadvantages and many other things about BTC and other digital assets. However, what is most interesting to anyone involved in the cryptocurrency market and whole game, is where the cryptocurrency industry is headed in 2019? It is very important to make a good strategy when trading cryptocurrencies and to anticipate further developments in the industry. Therefore, today we have decided to answer the above question.

Also, if you still haven’t become part of this really big industry, we suggest checking out BitcoinBillionaire. Here you can get all the help you need, advanced statistics, graphics, and all the other tools and tips that can help you succeed in the cryptocurrency industry and make money. Now, without further ado, if you’re ready, let’s check out where the cryptocurrency industry was headed in 2019.

Institutional Investors Affect the Entire Game

As we said, BTC is the first cryptocurrency which has had a truly amazing journey in the past decade. From almost insignificant value to almost a whopping $20,000 at the end of 2017, Bitcoin has undoubtedly influenced the growth of the market, the increase in the number of transactions, and, therefore the attraction of more users and individual investors. However, after the all-time high value, BTC value dropped significantly, as low as $3,000 at one point. Although the current value is pretty good (about $7800 at the time of this writing), it can be said this is much below the ATH value.

The decline in value caused one phenomenon, which caused a decrease in the number of individual investors. It is the appearance of institutional investors that caused fewer transactions and individual investors to leave the market. Did this affect BTC and other cryptocurrencies? It certainly affected and is still affecting because this process isn’t over and new institutional players are constantly entering. However, has the industry lost value? Well, we have to admit that it’s not case, because institutional investors are strong enough to keep a cryptocurrency industry great. First of all, we are thinking of projects that have begun to develop in 2019 and that will undoubtedly continue to impact this large industry. One of them is Nasdaq, and the emergence of similar projects will undoubtedly increase the value of the market and the entire industry.

Stable Coins Are a Very Important Part of The Industry

Wondering what stable coins are? Well, these are digital coins that are linked to the price of FIAT currencies such as the dollar. A typical example of stable coin is Tether whose value has been equal to $1 for a long time. The role of stable coins is first and foremost to provide security in the event of decreasing collateral prices of leading digital currencies such as Bitcoin, Ethereum, Litecoin, Dash, etc.

However, how can stable coins become dominant when Bitcoin and other altcoins are more valuable and more people are interested in trading these currencies? Analysts have made every effort to provide answers to this question, and there are two main reasons. First of all, apart from Tether, there are other stable coins (e.g. Facebook’s Libra) that strengthen this part of the market but also the market cap of stable coins. The second reason is the stability of these tokens. Other cryptocurrencies that are decentralized have one thing in common, which is instability. On the other hand, stable coins are stable, as their name implies. Stability is exactly what big investors are looking for, so it is very possible for stable coins to dominate the market in the coming period.

Bitcoin and Cryptocurrency ETF (Exchange-Traded Fund) Approval

Approving Bitcoin and cryptocurrency ETFs would be a very significant thing in 2019. Unfortunately, this hasn’t happened yet, primarily because of the SEC (Securities and Exchange Commission). This organization hasn’t yet approved any of the Bitcoin ETF applications, and in the previous period, several of them were either rejected or delayed. For example, this situation has hit the VanEck fund, which is one of the most popular funds.

According to many experts, this approval would mean a lot to the industry, but above all to investors. If an ETF for Bitcoin and other cryptocurrencies were approved in the United States and Great Britain (greatest markets), it would mean safer trading compared to current system the industry has to offer, but also direct selling and buying. In general, the Bitcoin ETF would bring many benefits to the entire industry.

Things About the Cryptocurrency Industry Known So Far

What is of particular interest to all cryptocurrency traders are the latest price forecasts for BTC, ETH, LTC, BCH, DASH, XRP, and other popular cryptocurrencies. Unfortunately, no one can tell you with certainty, but there are some platforms that can help you trade, and provide you with advanced tools and statistics so you can more easily judge whether or not you’ll be able to make a profit.

However, what is certain is that the benefits brought to us by the crypto revolution are still continuing to apply. For example, revolutionary and advanced blockchain technology is entering an increasing number of other industries. In addition, Bitcoin as the original cryptocurrency designed to bring about a revolution in finance has somewhat succeeded doing so. Unfortunately, we still don’t have sufficient acceptance of this digital coin or other altcoins as an official means of payment, but the number of places where you can pay using cryptocurrencies should grow in the coming years, which is encouraging for all cryptocurrency traders and those who own these digital assets.

The 5 Biggest Trends in Cryptocurrency for 2020

Published on December 9, 2019

Business

Most important about the trades in the market of cryptocurrency are speculations. The position on the market and the value of some cryptocurrency is determined by interest and speculations about it. Today, the crypto market has a lot of ups and downs, especially because there are lots of pyramid schemes that are affecting the market and potential buyers to be more careful when they decide to buy some cryptocurrency. However, trustful cryptocurrencies have a strong back-up in blockchain technology, which prevents a possible scam.

The year 2020 will be important for this kind of market, mostly because a lot of companies are considering if they will use this kind of monetary system, but everyone has to be sure about the consistency of values of some popular cryptocurrencies like Bitcoin, Ethereum and more. In this article, we are going to present to you the best five trends about the cryptocurrencies that we expect to happen in 2020.

Libra

During 2019, the Facebook company has introduced us with their plan to get on the crypto market with its currency, with the name Libra. It is going to be available in the summer of 2020 when they finish everything about the regulations. This new coin will have a back-up from some big companies like Vodafone, Uber, and other companies that are interested, such as eBay, PayPal, MasterCard, and more.

Libra has a big potential because there are a lot of people interested in this new cryptocurrency, only in the United States there will be around 170 million users. The biggest potential lies in the fact that there are millions of Facebook users, that maybe never seen or heard about the cryptocurrencies, will now use Libra to pay for some services like a phone bill, or drive with Uber.

Consolidation of the Market

There was a fall in value for most of the cryptocurrencies in 2019, but it is estimated that there will be more than 2000 new types of crypto in 2020. However, only a small amount of them has a trade that is bigger than 100,000 dollars per day, and most of these coins have a very small amount, a lot smaller than the value of one cent.

The value of most crypto coins remained still in 2019, and in 2020, it is estimated that more companies will get into a trade of this currency. Also, with the bigger interest of big companies about investing in the crypto market, it is expected that there will be a bigger consistency of most popular coins on the market, with less turbulence in values.

The Bitcoin Halving

There will be an important event about the Bitcoin in May of 2020 when they will reduce the rewards that people get from mining this crypto. The value will be reduced from 12.5 BTC to 6.25 BTC. This already happened twice, because Bitcoin increased its value rapidly from 10 dollars to more than 10,000 dollars in 10 years.

However, the people who were mining this cryptocurrency continued because there is still a great chance for big earnings, mostly because of its big value, that in one moment was near 20,000 dollars. Also, a lot of people are investing in this coin because everyone is expecting it to be money in the future. Also, you can check bitcoineras.com for more info about the value and trends about the Bitcoin.

Also, the mining process is near its end, because there is a maximum of Bitcoins that can be on the market, and that number is 21 million of these coins. When the process is finished, this coin will no longer be available for mining, and it will only exist on the market as a strong cryptocurrency with is value-based by speculations, popularity, and a number of people who are using it for payments.

Regulations by the Government

There is a big awareness by the governments of many countries about the safety of using cryptocurrencies. Also, there must be some new regulations that will determine how will people who are using these coins to pay the taxes. Because now, there are no regulations about taxes from using any cryptocurrency in the world.

However, with better regulations of using the crypto coins, there will be fewer fluctuations in the value, and it will influence the market to be bigger and safer to invest in. While some countries are welcoming the introduction of crypto on their market, some others like China or the United States, who want to regulate these coins with taxes. Also, there are some speculations that says how many people are using crypto for black market, so there must also be some solutions for preventing this too.

Fintech Companies

The market of all sorts of cryptocurrencies is on a big rise in recent years, where millions of people are investing in blockchain technologies and trading with the coins. The introduction of Libra has set up some new tendencies in the crypto market, and maybe there will be some similar currencies through social networks soon.

However, there are still a lot of important questions about how will everyone regulate the massive usage of these virtual currencies, and how are they going to implement them in the economies of countries, IMF, stocks, and much more. The biggest advantage is going to have the Tech Companies, who already are investing in this type of currency for a long time.

There is a lot of Fintech companies who are interested in investing in cryptocurrencies like Libra, and maybe developing some similar to that one. Some big Fintech companies like Chime got their investments from big finance companies like Goldman and Sacks, who see the value in investing in developing and trading in the crypto market.

The conclusion is that the crypto market will only get bigger next year and that there will be even more companies that will invest in the crypto. If the countries come up with some good regulations and determine the way of how will people pay taxes while they are trading of paying with cryptocurrencies, we can only expect even bigger interest from everyone to replace today’s money with this revolutionary way of payment.