Blockchain

5 Tips for Finding Reliable Bitcoin Trading Apps

Investing in cryptocurrencies has been a lucrative business since 2008 when a group of people under the pseudonym Satoshi Nakamoto created the most famous digital currency of the present – bitcoin. Although its value was negligible at the outset, it has recorded almost constant growth over the years, so that its current value is above $ 45,000.

What do we need to know about bitcoin?

Bitcoin is a digital, decentralized currency. Many cryptocurrencies call it digital gold. What makes investing in cryptocurrencies tempting is the fact that the customer remains anonymous, that there is no need for a third party, and of course, there is no central authority. They are based on the principle of blockchain, a system that makes them secure.

How and where to buy bitcoin?

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There are several ways you can buy this digital money, but the two most common ways are to shop at an exchange office and an ATM. ATMs have proven to be more efficient because you don’t have to leave your personal information, all you have to do is swipe your credit card and buy cryptocurrencies that way. Of course, you will also have to keep this money in your wallet, but digitally. Although many opt for a hot wallet over a cold wallet (for financial reasons), we must point out that a hot wallet is vulnerable to hacker attacks because it requires an internet connection, while a cold wallet is more secure because you store money on hardware-software. Anyway, this is something you don’t need to spend money on. Think of it as a smart investment.

Trading methods

There are two ways to trade, and these are manual and automatic trading. Manual trading refers to one in which you personally open and closes an account each time you access the trading platform, while in automatic trading the situation is different.

Automated trading software, also known as Expert Advisor or EA (Expert Advisor), can open and close trading positions without human intervention. Some automated software uses technical analysis to make algorithmic trading decisions, while others use economic news to open accounts.

Trading using the application is very practical because you do not have to spend your free time in this business, it is enough to set up the application so that it, thanks to artificial intelligence, monitors the situation on the market. To be successful in trading even when using an automated app, it is important to improve and enhance your strategy which you can read more about at eng.ambcrypto.

Since there are so many of these apps today, it’s important to take a few things into account to find the one that will work best for you. But how? Here are some tips that will help you choose the best application.

Source:financemagnates.com

Is the app compatible with your device?

Today, many applications have a desktop and mobile version. However, using the desktop version on a mobile phone can be impractical (which is why there are mobile versions). However, be aware that some mobile apps are designed exclusively for Android or iOS, so it would be a good idea to check this out before making a final decision.

Ease of application to use

One of the important things you need to pay attention to when it comes to choosing an application is its appearance, ie whether it is easy to use while meeting all your criteria. Many applications have advanced features and tools that could appeal to you, and they are unnecessary tools that will only distract you from the most important thing – improving your investment strategies.

There are also those applications that are equipped with few options, for example, you can not see the former value of the currency, but only the current, which will require you more time while performing additional searches on the Internet to get the desired data.

Customer support

This is a very important item, especially for those who are new to this business. Check what kind of service the application offers to its clients, whether it has 24/7 support talks with the support agent to avoid additional costs by calling the broker.

Source:financemagnates.com

Reviews are important

Each application will present itself in the best light, emphasizing the advantages and skillfully hiding the disadvantages. Who better to tell you the truth than its users? Reading reviews will give you a real insight into the quality of the application and help you make decisions about whether it is the right choice for you.

Charging policy

Each trading application has different rules on the method of payment and the initial amount of the deposit. This is something you need to find out before making a final decision on choosing an application. Today, there are many benefits when it comes to payment, so you can even do it via Google, Apple pay, PayPal, or Neteller.

For daily trading, it pays to use an automated bot (software) that will track prices and sell and buy for you.

If you have ever traded stocks you know that stock exchanges work e.g. from 9 am to 5 pm. There are no working hours in cryptocurrencies. Stock exchanges and exchanges operate 0 – 24.

Jumps that can be up to a few hundred dollars in one hour arouse euphoria in you so that you can trade and earn money every day! While this is possible it is not easy.

Daily trading requires a lot of practice, you need to know the market, individual trading options, interface, and the like. If you really want to profit from “day trading”, our recommendation is to use bots or automatic stock exchange options, which will work for you because you will not be able to be 0-24 behind the computer to track movements.

Everyone has to decide for themselves if it is a good idea to invest in these new technologies. Technologies can fail. Price speculation is one of the network effects that push the price to new records. That’s not necessarily a bad thing. Just be aware that this is a high-risk investment!

Top 8 Technology Trends and Jobs 2021 Will Bring

Technology is developing at staggering speeds, and it is only getting faster. This evolution enables faster change and progress. Careers in tech industry do not follow as fast, but they do evolve. IT professionals tend to recognize their new or expanded roles, as they constantly learn because they both want and need. Everyone should always stay in touch with the modern technology trends today. You need to set your eyes on the future and realize which skills you will need for jobs you want to do.Let us explore eight technology trends for the year 2021, as well as the jobs they will create.

Img source: evolving-science.com

8. Artificial Intelligence (AI)

Artificial Intelligence has undoubtedly already received great attention and continues to be a trend to watch. It more and more effects how we live, work and play, and yet it is only in the early stages of development. Other AI branches also appeared as well. AI are computer systems that mimic human intelligence. They perform tasks like recognizing images, patterns or speech, and they also make. AI can actually do these tasks much faster and more accurately than humans can.

Img source: medium.com

7. Machine Learning

Machine Learning is one of the newer branches of AI. Here, computers are programmed in a way to learn how to do something they are not programmed to do. This basically means that they learn more by discovering patterns and exploring data. There are supervised and unsupervised learning, while Machine Learning also has subsets that include neural networks, natural language processing (NLP), and deep learning. Each offers different opportunities for specializing in career fields that constantly grow and improve.

Img source: medium.com

6. Robotic Process Automation (RPA)

Process Automation is another technology developed to automate jobs. Essentially, it is the use of software to automate business processes like processing transactions, interpreting applications, dealing with data, and replying to emails. RPA serves to automate repetitive tasks people used to do, to give them more time to do more important work. However, not just menial tasks are automated, as 45 percent of activities we do could potentially be automated, like the positions of financial managers, CEOs and doctors.

Img source: medium.com

5. Blockchain

Here, most people will think in relation to crypto currencies like Bitcoin. Blockchain however offers useful security in different ways. It is the data you can only add to, but not change in any other way.The fact that you cannot change it is why it is so secured.These are also consensus-driven so that nothing else can control the data. With blockchain, you do not need a third party to validate or even oversee any of your transactions.

Img source: youtube.com

4. Edge Computing

Cloud computing is currently mainstream, with giants like Amazon Web Services, Google Cloud and Microsoft Azure dominating the market today. Cloud computing and its adoption are still growing, with more and more businesses moving to their solutions. It is no longer an emerging technology, because Edge is. It is practically designed to bypass latency that cloud computing causes and get data to a data center for processing. In other words, it exists “on the edge,” or closer to where the computing needs to be. Edge can process time-sensitive data in very remote locations with little to no connection to one centralized location.

Img source: justscience.in

3. Virtual Reality (VR) and Augmented Reality (AR)

VR immerses the user in a virtual environment, while AR enhances the actual environment. VR has is at the moment mostly used for gaming and training. The popular Pokemon Go game is a great example of AR. Both have huge unexplored potential in education, training, entertainment, marketing, and perhaps even rehabilitation. They both could be used to train doctors, offer museum tours and experiences, enhance the theme parks and marketing, etc. The potential is next to limitless here.

Img source: rackspace.com

2. Cyber Security

Cyber security is around for a while, and is evolving just as any other technology. There are always new threats, so security has to keep up. The hackers want to access all sorts of data illegally, and they will not stop, but continue to develop their skills to bypass the toughest security measures. Most new technology comes with enhanced security, for example hardware authentication, cloud technology and deep learning. Data loss prevention and behavioral analytics are also great ways of security in the cyber world. As long as hackers are active, cyber security will evolve and develop to defend us against them.

Img source: itpro.co.uk

1. Internet of Things

Internet of Things (IoT) is the future. A lot of “things” are have WiFi connection, meaning that they could easily be connected to the Internet, as well as to each other. This is what IoT stands for. It enables cars, devices, home appliances, and everything else to be connected together and among themselves and exchange data over the Internet. Currently, we are in the beginning stages of IoT. The number of devices capable of this was 8.4 billion in 2017. It is actually expected for it to rise to a staggering 30 billion by the end of 2021. That is a lot of smart devices.

3 Reasons Bitcoin Mining is Still Profitable in 2021

Investing in Bitcoin and other cryptocurrencies have great profit potential, and we can see that there is a great hype in the last few years when it comes to digital assets. One of the main reasons why blockchain-based currencies are so popular is because they are highly volatile, and you could earn a lot if you invest in them at the right time. For example, if you bought Bitcoin around 10 years ago, it had a value of only a few dollars, while its price was around 2017 was near 20,000$.

Source:drachmae.co.uk

Furthermore, if factors are on your side, getting Bitcoin through mining can be much more profitable than buying it and wait for its bigger value. Also, with the current trends and rise in popularity of this and many other digital assets, we expect that the value of BTC will become much bigger in the future. Moreover, many countries are planning to introduce various regulations related to cryptocurrencies and their full implementation in the monetary system. We already have near 10,000 ATMs around the world with the support of blockchain technology, and a lot of online stores started accepting crypto just as the standard fiat currencies. There are some luxury stores as well, like luxurylifestylemag, where you can buy some luxurious brands such as Aston Martin, Range Rover, Prada, and more, by using Bitcoin.

Also, while trading is the main option for getting cryptocurrencies, mining is a great solution as well. The process of mining was the most popular in the beginning when the rewards were much bigger. However, there is a halving process every couple of years, where the rewards from mining become smaller. However, there is still a chance to make a profit from mining Bitcoin, but you have to be aware of several factors that are affecting the cost of this process. Here are the main reasons why Bitcoin mining is still profitable in 2021.

1. Efficient Hardware

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In the first few years, when the blockchain technology and the mining process were introduced, you could successfully create blocks of codes with an average PC in your home. However, along with the bigger popularity, developers also started making more secure software, which made the process much more demanding in terms of hardware. Today, the main point of efficient mining is having the latest devices specially designed for this method. If you have the most recent processor and graphics card, you can efficiently create blocks of codes, which will provide you with tokens that you can later convert into Bitcoin. Also, you should know that these devices can consume a lot of energy, and you will have to make a proper calculation of electricity, and the cost of the hardware to conclude will mining be profitable.

2. Electricity

Source:spectrum.ieee.org

The cost of electricity in your country can be crucial for the profitability of mining. For example, with the current value of this cryptocurrency, you cannot expect that you will make any profit from mining if you live in South Korea, where the cost of only one coin is over 25,000$, which is significantly higher than its current price. Besides South Korea, countries like Denmark, Belgium, Germany, Bahrain, and many others, are also having expensive electricity, which means that you should avoid to mine BTC in these countries as well. On the other side, if you live in a country with much cheaper bills, this process could bring you a great profit. Some of the countries where mining can be profitable are Paraguay, Serbia, Kuwait, Saudi Arabia, and the absolute winner is Venezuela, where you will spend only slightly over 500$ for 1BTC.

3. Choose a Proper Mining Pool

Source:crypto-economy.com

Besides the technical factors that are very important, you should also pay attention to find a proper and reliable network for the mining process. Since numerous machines are creating codes today, it is nearly impossible for anyone to earn a block reward by himself. Therefore, many mining pools represent networks of people who are combining their hardware to create and share tokens. One of the biggest pools today is F2Pool, which holds over 20% of all codes available. Besides this one, there are many other pools as well, and you should choose one by the percentage and number of people there. Also, you have to be aware that every mining network requires some fees, which are around 3% on average. If you have a Watsminer M20S machine, which costs around 2000$, you can mine coins with an average price of around 6$ each day.

Conclusion

When we look at all of the factors that can affect your profit from mining, we can see that it is much harder today to earn a lot from this method, especially if you live in a country where the electricity is expensive. However, if you are willing to invest a greater amount of money in proper hardware, there is still a great chance for a profit. After the latest halving, miners can get 6.25 BTC after the one round of mining is finished, which is still attractive to many. On the other side, the next halving, that will occur in 2024, will reduce the reward to 3.125BTC. In that matter, we assume that there will be many more people interested in trading than in mining after that.

However, if the price of BTC, which could reach 20,000$ again until the end of 2021, will break another record, the mining can remain as a great option. Many factors can affect the price of digital currencies, like their legality in countries which is still not regulated, and the demand for them, which is the main factor that can affect the value of them. Furthermore, the process of mining will be available for a long time, and according to some analyses, we will have to wait until the year 2140, when the determined maximum of 21 million Bitcoins will be mined. We are sure that mining could at least represent a great type of additional income, especially in the case that the world economy fully accepts it and implement it in the monetary system.

4 Differences Between Bitcoin and Traditional Currency

A financial crisis that shocked the world back in 2008 is one of the most important occurrences that marked the future of the global economy. As you can remember, its effects were pretty severe on a plethora of different elements and industries. One of the, let’s say, positive side-effects to this whole story was the creation of cryptocurrencies.

While there are no direct links between the creation of these, many people believe that their creation was under the direct influence of this financial crisis. This theory goes so far that many people believe that the whole intention was exposing all the bad sides to the traditional way of doing business. The arrival of cryptos on the stage marked a significant change in various different industries, not just finances. Now, we can see that there are a lot of political movements that were directly caused by it.

Now, we are witnessing a new era that will change our perception of financial systems forever. There is one more thing that heavily influenced the popularity of cryptos. We are talking about the global pandemic of coronavirus. Cryptos like BTC suffered a heavy drop during the first quarter of the year. However, they managed to recover completely in the last two months and we are on a brink of a new record when it comes to its worth.

Even though we can see that there was a lot of skepticism towards digital currencies, we can see that people treat them much more seriously these days. If you want to learn more about this change of heart, you can take a look at eng.ambcrypto and inform yourself a little bit better about it. Anyway, we would like to talk about the most important differences between traditional currencies and BTC. Without further ado, let’s begin.

Source:europeanbusinessreview.com

1. Anonymity

The first difference we would like to point out is the anonymity you will be able to have when you are using digital currencies, particularly Bitcoin. For example, it doesn’t really matter which one of these you are using, you will be able to have full control over them, without being asked to provide your personal information. It’s needless to say that this is the main reason banks are against this whole concept.

We are not talking about some conspiracy theory. We are talking about pure common sense. This is an approach that’s vastly different from the traditional ways, and banks wouldn’t like to choose their clients, right? Plus, there isn’t any kind of authority you will have above you, no banks and no governments.

2. Flexibility

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Next, we would like to point out why digital currencies are much more effective when it comes to the pace of transactions. Surely, you are aware of the fact that there are some restrictions when it comes to the traditional way of conducting transactions. Any user could wait for up to a couple of days before the transaction is fulfilled. Just think about it, when the transaction is made on Friday, you could wait until Monday before you can withdraw your money.

Plus, we can say that, since there are so many restrictions, the accumulation of money can lead to some serious inflation. However, we need to say that it is important to be patient since not all BTC coins are mined as a whole. We can even see that some predictions can say how much time we need to wait before all of them are at our disposal. But it doesn’t matter how much of it the market will have, there will be no inflation.

3. Low Taxes and Fees

We are witnessing that banks have pretty high transaction fees. Add to that the fact that you could wait for up to a couple of days before you can get your money, and you have a bad situation. However, we can say that this kind of situation would be a standard if there weren’t cryptocurrencies to interfere. If these are so high when you make local transactions, just imagine their fees when we are talking about international transactions. They would be high, right?

When it comes to Bitcoin and other cryptos, you will see that these taxes and fees are not so high as is the case with traditional transactions. Plus, the receiver will have all the coins in its e-wallet pretty much the same moment they were sent. The same goes both for local and international transactions. Therefore, you shouldn’t worry about something like that. Relax, and do whatever is that you need to do.

4. A New Level of Security

Source:mytechdecisions.com

For those who are not aware, we would like to say that all cryptos are supported by the blockchain system. We are talking about a system that has numerous layers of security that represent the main one that protects your coins from all the malicious outside influences. Therefore, you can expect that you will have much more protection for your coins than for the money we have on our credit cards.

While there is some room for these breaches, we can see that the largest part of the system is so well-protected that we can say there are zero chances of them being breached. The situation when you don’t provide any kind of personal information surely helps, right? Plus, the only valuable information is the addresses of the sender and a receiver. If these two are protected in the best possible way, there isn’t a chance of you losing your money for these reasons.

The Bottom Line

Even those differences we’ve named can be considered crucial, we can see that there are tendencies that tell us we will see the merge of these two concepts in the future. While this merge will not be complete, we can expect that the best elements of both approaches will be combined into one. Without any doubt, the result of this mixture will surely mean the future of the financial world. The repercussions it will cause will be pretty significant and it will have a massive influence over the future of our civilization, you can be sure of that.

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.

7 Big Problems With Cryptocurrencies Everyone Should Know

Blockchain technology has been praised for creating open markets and fighting corporate policies. Cryptocurrencies challenged traditional financial institutions offering better and more transparent transactions for users. Still, there are some downsides to digital coins that became apparent for the past couple of years. Investors have been buzzing that cryptocurrencies need more regulations implemented, even though creators of digital coins are firmly denying the proposition. However, they admitted having some problems with blockchains and are claiming that further decentralization will solve it. Here are some major problems with cryptocurrencies that users are complaining about.

Security

Source:cia.news

As blockchain technology becomes more advanced and sophisticated, so do the hackers. Security has been the most worrisome aspect when it comes to trading and investing. More decentralization of the open markets has been offered as a solution to the problem, but many are not convinced. On the contrary. Investors are asking for a more regulated system that will ensure at least some degree of protection from the cyber-attacks. Creators and investors are at odds right now about how to protect currency exchanges, but they will need to find a common ground soon since cyber criminals are on the rise since 2018. As a matter of fact, exchange encountered 15 times more cybercriminal attacks in the past few years.

Credibility

Source:hackernoon.com

There have been many fake digital coins floating on the market looking for naïve users to scam them. This damaged the credibility of every legitimate cryptocurrency and justified critics’ stands. The most famous fraud was OneCoin when scammers caused damage of over $3 billion to the investors. The trust between creators and investors was at the all-time low, and many gave up completely from trading with crypto coins. Some speculators claim that almost 80% of all coins available are a scam. This is very harmful to the overall reputation of the major digital coins.

Transparency

This became a major issue lately when it was revealed that 80% of all coins are in the wallets of 20 people and companies. Of course, just like in a traditional financial system, no one really knows exactly who they are beyond rumors. Transparency is urgent now more than ever with all frauds that plagued the crypto world in the past years. Still, creators and big investors are keeping such information under wraps leaving ordinary users to question and fueling gossips that it’s all a scam from the get-go. Small businesses are left with several coins here and there and the majority of coins are in the hands of a few powerful people, just like in a banking system that we all know. With the lack of transparency, accountability quickly vanishes. Trading and investing with blindfolded is not only a risk, it’s worse than gambling. So, not knowing who holds the coins, and if things go south there will be no institutions to file complaints, has put off many traders from investing.

Liquidity

Source:medium.com

Recently, the king of cryptocurrencies, Bitcoin, lost its liquidity for tens of millions of dollars, when its price took a dive on the market for more than $1,500 in minutes. This volatility is something that investors fear the most. Fluctuations of the prices are common for stock markets, but crypto exchanges have been notorious for major ups and downs. This environment leaves powerful investors with the doors wide open to manipulate the prices and availability of the coins. So, the whole decentralization talk becomes obsolete. Lack of liquidity and stability makes prices drop a lot and no one can predict it. To check out the latest movements on the market go to bitcointrend.app.

Delays

Anxiety over fraudulent coins caused creators and markets to delay transactions until the trader can confirm it. This is not something investors sighed up for originally. Speedy and much cheaper transfers were one of the reasons many companies, especially retailers, began accepting cryptocurrencies. These delays are beating the purpose of switching from regular bank transactions to crypto markets since in the end, it comes up with the same amount of time needed to complete the transfers.

Prices

Just last year Korean coins launched a bot that manipulated the supply and thus, prices of the coin once a week. The fraud was revealed quickly and stopped in time before any major damage occurred. This is just one of the examples of how investors lose trust in open markets, where there are no regulating bodies to protect them from scammers. Korean scam caused a ripple effect on every exchange market, not just the one in Asia. The seed of doubt was planted in every trader’s mind and the trend has been ongoing. Occurrences like this harm the whole idea behind free markets and currencies that are going to be available to everyone. Creators of the coins defend their stand by claiming that no market is bulletproof from cyber-attacks, which is true, but that goes against their original stance that cyber currencies are safe and secure.

Regulations

Open markets have been accused of being unprofessional and unstable due to the lack of regulations. Many countries took some actions to make cryptocurrencies part of their rules and laws, like SEC in the United States. Many investors and supporters of the digital coins have been calling for more legislation that will protect them from criminals and hackers. Creators are firmly against it saying that will beat the purpose of the whole idea of open markets. For now, they are on the opposite sides and the resolution is not even on sight. In the meantime, regular folks are left to fight the storm of cybercriminals and fake coins by themselves.

Source:pinterest

The idea about the currency that is free of any laws and regulations worked a decade ago when there were a few coins available and the market was pretty simple to follow. Today, many saw the opportunity to cash in by dealing with fake digital money and scamming people. On the other hand, users have to bear part of the responsibility also. Many thought that entering open market investing in crypto coins is the easy way to make millions overnight. The problem is, cybercriminals came up with the same idea.

Learn the Basics of Bitcoin Mining

Many have probably heard or read about the expression “bitcoin mining” people have been talking about intensively for the past 3-4 years. Before learning the basics of bitcoin mining, let’s explain the expression itself and why is it so popular.

Bitcoin stands for a digital currency that has all the characteristics of a regular financial currency we use everywhere in the world, and mining refers to the activity or a process of confirming the transactions that wait to be included in the blockchain technology.

Source:expresscomputer.in

The key goal of having this kind or this version of electronic money is to enable you to perform direct online payments without the mediation of a financial institution (without a central bank or a central administrator). If you consider all the mediators involved in the process of transacting money from one country to another, all the commissions charged by the mediators, not to mention having to convert money to the local currency and the transaction time needed, using cryptocurrencies sounds like a much affordable solution. All the transactions in the bitcoin network are being recorded in the so-called blockchain. It is sort of a database (a public list of all the transactions) maintained and updated by thousands of miners across the globe. Even though all the transactions are anonymous, they are however publicly available for everyone to see.

So, how does one learn the basics of mining?

Bitcoin is being produced (made) by a computer that participates and manages an already mentioned (blockchain) public database. The computer is being awarded one bitcoin for each successful transaction that adds a new block to the blockchain. This process is called the mining process, where mining is done by computers.  It is important to understand that the reward never goes to one person because no one in the world has enough computer power to solve a complex mathematic problem (operation) needed for a successful block. This is the reason miners network into mining pools to group their computer power and proportionally share the reward. The more miners, the secure the network, but the harder the mining.

One fact that arises from this is that human activity is not required for the mining itself. A logical question that would follow is – then is it required in the trading of the bitcoins? The answer, believe it or not, is no. By this moment in time, there are numerous software, robots, trade platforms for analyzing algorithms, initiating, and analyzing trades, without having to spend valuable time searching for buyers yourself. One such software can be found at q-profit-system.com.

Investing a good software is always a smart solution, especially if you are new in this cryptocurrency market and you want to make sure you stay on the right track. In any case, hiring a broker will maximize profit with bitcoins.

Source:coinrevolution.com

However, if you have decided to mine, there are also a couple of more things to learn about.

Hash rate – is the number of operations your hardware can perform in a second when trying to break the mathematical problem. It is measured in megahash, gigahash and terahash. The higher the rate the more are the chances of successful mining. Calculate your energy spending to avoid surprises– the computer, logically, operates on electrical energy, which of course costs money. Ideally, you want to use the hardware that will not spend more energy than you will earn by mining. Then, choose how you will perform mining: GPU, FPGA, ASIC.

  1. CPU/GPA – the weakest of three options. Theoretically, you can use your computers’ CPU for mining, but in practice, it is very slow and makes no sense in today’s market. You could increase the hash rate by adding GPU chips (contained by graphic hardware), but you also should be ready to invest a bit more money.
  2. FPGA (Field Programmable Gate Array) is an integrated electric circuit that enables mining hardware producers to buy chips and put together the equipment themselves. It gives better results than the CPU/GPU.
  3. ASIC bitcoin mining (Application Specific Integrated Circuit) is specifically designed to do only one thing: mine for bitcoins with exceptional speed and relatively low energy spending. They are quite expensive and manufacturing them takes quite some time.

Pool – when you have considered everything and procured the equipment, you can start mining. But keep in mind, you will have more success if your network/joins a pool of other miners.

Certain companies offer mining services, so if you want to invest in cryptocurrency, but do not wish to go through all the trouble of buying and installing the hardware, calculating electricity spending and all the other things mentioned in the text above, then “cloudhashing” is your option. You buy the finalized product, a whole mining package, by choosing the hash rate speed. All the other technical things are provided by the company (electricity, hardware, maintenance, networking in the mine pools, etc.)

Once you have mined and managed to get a bitcoin, you should have a safe place for keeping it. Symbolically, these places are called the wallets. What they do is keeping your private keys which you use to access your assets. Wallets come in different versions, depending on the device (desktop, mobile, web, hardware wallets).

There are numerous bitcoin mining courses available online, for everyone who plans to start mining. The content usually includes lectures for gaining basic knowledge on bitcoins, tips on what to do and what not to do, steps you need to undertake before starting the mining, etc.

Lots of video material explaining is also available for free, on different websites, where people shared their experiences on how to mine.

You could say that this kind of currency belongs to the people. Bitcoin is an open code system, owned by no one, but where anyone can take part in its development. It is a currency not limited by state borders. More important, no government in the world controls it. So, this is what makes it so tempting.

Source:starofmysore.com

One thing is for sure, the world is turning more digital every day, and bitcoins have a very interesting role in this. Is it the new version of gold? Get ready to jump on the train and find out.

Top 5 Bitcoin Investors

The Bitcoin investors are a crucial part of this market, because they are experienced in this field, but also invest their own money in making the blockchain network more safe and stable. These people also invest in cryptocurrencies in a way that they deposit fiat money funds and get crypto coins in equal value. They are helping the network to develop and attract more potential investors, miners, and traders.

Bitcoin investing also includes:

– Buying and selling cryptocurrencies

– Making the whole network safe and stable

– Helping the beginners to learn more about Bitcoins

– Investing in crypto servers and cloud services

– Funding the development of the network and currency

– Helping the developers establish safe and trusted exchanging platforms like bitcointrader.site

– Making the digital wallets safer

These people also are holding meetings and crypto events, sharing their knowledge with those who are interested in mine, and earn with Bitcoins. They always follow what is new and try to bring that information to everyone who is included in the investing process.

What do you need to become a Bitcoin investor?

Source:pinterest.ca

Your knowledge, interest, and enthusiasm are enough at the beginning. No one wants to invest money in something that is not worth it. Before you invest even a cent in the blockchain network, you need to perform deep research on every aspect.

Investors can directly influence rates and values. You will also need to choose your mentor from the list of the most popular and influential Bitcoin investors, so you can learn from them and see what had they done for the currency. Inexperienced investors and miners are those who are trying to make a quick profit, but you must understand that you need to have deep knowledge in this field to reach that goal. It’s possible to earn cash from Bitcoins only if you follow the rules of the market.

How Bitcoin took the leading role in the crypto market?

No one can give an exact answer to this question, but maybe the secret of its success is hiding behind the massive promotion and the fact that Bitcoin is the first digital currency that conquered the world. People reacted emotionally and enthusiastically to it, wanting to grab more before they realized it’s not that simple. Many of the initial investors already gave up on this idea, but there are a lot of people who are still willing to invest in Bitcoin’s development and helping it to keep the role it has.

Here are some of the top Bitcoin investors of all the time:

  1. Barry Silbert

Source:bitcoinexchangeguide.com

He is the founder of Digital Currency Group. His goal is to help with the development of the global financial system, by supporting the Bitcoin and altcoins. He already invested in more than 70 cryptocurrency-related businesses. His company is also an owner of Genesis and Grayscale, which are focused on investing and crypto trading. Silbert also owns the Bitcoin Investment Trust fund, which is responsible for tracking the changes in Bitcoin’s price.

  1. Blythe Masters

Source:crainsnewyork.com

She is one of the most recognizable names in the crypto market. In the past, she was executive at JPMorgan Chase and CEO at Digital Asset Holdings. She is trying to find appropriate ways to implement the blockchain technology to Wall Street. After she opened her Digital Asset Holdings, JPMorgan Chase became their biggest client. Together they are testing how to make the crypto transactions quick and safe.

  1. Dan Morehead

Source:bitcoinexchangeguide.com

He is the founder and owner of the company named Pantera Capital. His company is the first to invest just in cryptocurrencies, including, of course, the Bitcoin. Pantera’s crypto fund is one of the biggest in the world. Morehead also invested in 43 cryptocurrency companies and funds, helping them develop and establish a strong trading base.

  1. Michael Novogratz

Source:bitcoinexchangeguide.com

He is a billionaire who invested almost 30% of his money in cryptocurrencies. Novogratz is a crypto enthusiast too. He started investing in cryptocurrencies back in 2015 and he already gave more than $150 million of his personal savings. He developed a crypto fund, expecting the other companies to help him invest in the Bitcoin. He is also known by his expectations back in 2018 when he was expecting that Bitcoin will be worth more than $40,000 per one coin.

  1. Satoshi Nakamoto

Source:youtube

We can’t complete this list without mentioning the creator of Bitcoin, who is known as Satoshi Nakamoto, but no one knows his real identity. It’s estimated that he owns around 1.1 million Bitcoins. People believe that he is not using his crypto savings for anything because if he does that, the price will drop immediately. Knowing that he is the creator of this widely accepted cryptocurrency, we can be sure that he invested a lot of his time and money to develop something that is this worth, but controversial at the same time.

Of course, there are a lot more names that deserve to be on lists like this, including Tyler and Cameron Winklevoss, Chris Larsen, Roger Ver, Charlie Shrem, Tim Draper, Dave Carlson, and Tony Gallippi. A lot more investors are also dedicated to the other cryptocurrencies.

Why invest in this cryptocurrency?

Source:hackernoon.com

There are a lot of reasons to choose Bitcoin as your starting point in the crypto market. Just like the gold for real money, Bitcoin is a safe-haven for all the cryptocurrencies. If it goes down, every other currency is going down too.

But, at the same time, it has a leading role in the market. Bitcoins have pretty high rates compared to the other currencies, and that is why people are choosing to invest and trade with it. If you own some pile of Bitcoins, but you don’t like the current rate, you can always store them in your crypto wallet, and wait for the better times and higher exchange rates.

Many people, companies, and whole countries are starting to clearly see the possible benefits of accepting the Bitcoins as a regular payment method. Even though a lot of people find it controversial, it’s a fact that a lot of them are at least curious about how does the Bitcoin works.

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