crypto trading

Тop 9 Bitcoin Trading Errors made by Beginners – 2021 Guide

The crypto market is different than any other you already know, and it’s run by different rules. So, if you have knowledge in financial management, accounting, banking, software development, and so on – it’s not valuable in the crypto market, and can easily lead you to make some mistakes, that the blockchain will never forgive you. The beginners have more chances to make these mistakes, because they are inexperienced, and they may join unverified trading platforms, that seem like they have the best offers and conditions initially.

Choosing a reliable trader is the first step every beginner should consider immediately. It’s worth checking bitcointradernow.com/login, to see if it’s allowed in your country, and if it is, then you can proceed to create your account, and start trading. But, you can’t do that today, especially if it’s your first time. Before you take any step, let’s see which are the most common and most dangerous mistakes a beginner trader can make:

1. Not estimating the possible risks

Source:hackernoon.com

You can’t jump into investing real money before you learn how things are done. Crypto trading is very different than the traditional offering and getting what you want. Many beginners consider it as a type of gambling, and that’s completely wrong, and can lead to catastrophe. Experienced traders will recommend paper trading first until you feel completely prepared to become a part of that market. Underestimating the risks is a huge problem, especially when the trader is too confident, and thinks he/she can do anything. But, continuous losing huge amounts of money is a big error, and maybe the top mistake every beginner will make. If you lose some amount of money while trading, you have to take a break and get back when you are ready for that.

2. Not calculating the profit/loss ratio

What’s the purpose of getting $1,000 if you’ve lost $5,000 before? This is a negative profit/loss ratio, and it’s surely not good for your trading career. You should check this ratio regularly, so you can estimate if there is a real gain, or you are just having fun being at zero-value all the time. Don’t miss doing this, even when you gain more experience, and you make real money from your trading activities.

3. Not studying the market on your own

You have to do this. No exceptions. Studying a risky market like this must be your priority, and never skip to read a lot of literature, blogs, forums, and social media posts related to this topic. You can’t get the idea to become a trader today, and go for it tomorrow – it’s impossible, just like you can’t become a doctor or engineer without years of dedicated studying. It’s the same about Bitcoins, and if you don’t manage to learn everything that is important about it, you will lose a lot of money, and you will be unable to manage and handle the whole situation.

Source:admiralmarkets.com

4. Investing more than you can afford

The point isn’t to be poor after a few tries. The art of successful trade performance is to be responsible with your money and spend the amounts you can afford. Don’t take loans and credits, because that loop is endless, and it can lead you to more mistakes.

5. Getting too excited and emotional

If you have success on the first try, it can make you too excited about trading, and sometimes the emotions can be pretty overwhelming for you. In many cases, they won’t let you see the risks behind your activities, and that’s why we recommend staying calm and patient, so you can do the things as they have to be done, without any fatal risks.

6. Not having a trading journal

This is so traditional, and it may seem outdated, but it’s the best way to keep track of what you are doing, and how you behave on the network all this time. Write down every mistake, every risk you detected, and try to see the things that lead to a big loss. Keep a record of everything you are doing, so you can improve your strategy for the next time.

7. You follow trading patterns

There is no pattern that should be blindly followed, and as soon as you realize that, you will be able to boost the strategy and performance. It’s always good to explore the market and see the indicators, analyze the charts, and make decisions based on the past, but the current situation is good to track too. Combine a few different approaches, and don’t make big steps, until you are sure what will work the best for you.

8. You don’t have a plan

You need to have a few plans, just in case. Beginners usually fail to create the plan, until they realize they really need it, so they can know what they are doing at any moment. But, some plans can fail at the first moment, and that’s why you need to have a few of them, so you can fix the small mistakes immediately, and then move to the next step.

9. Using margin trading

Source:businessinsider.com

This is a big no-no at the beginning. That means you borrow the money you don’t have so you can stay active on the trading network. Maybe you will get a profit, but you will anyway have to get back a significant amount of money to the person or company that gave them to you. So, if you don’t need it, don’t get into margin trading.

As you can see – it’s not too complicated to get to know the trading market better, but at the same time, it’s not the simplest thing you will meet in your life. You must calculate all the potential risks when you starting a business like this. You can even go for safe trades until you gain enough experience to fight against the “beasts”. But, never forget that the whole concept of cryptocurrencies is virtual and as it grows the value every day, it’s quite possible to be ruined over the night. So, be careful, and always have a plan for what to do next.

How to Choose a Crypto Exchange in 5 Easy Steps

Becoming a good crypto investor or trader is not an easy task. The entire industry is complex, and it requires in-depth analysis. It is not the point to invest in Bitcoin just because its price is jumping. Despite that, counting only on luck is another mistake people make. Luck does not have anything in common with crypto success.

There are three things people should have in mind before they start their journey. The first one is to get familiar with all cryptos that exist in the world and analyze their features. Despite that, people should check out which available tools can improve their performances. Some tools use reliable algorithms and provide the users with useful analytics. If that seems like a good option for you, we recommend you click here. It is an example of a trading app that you should use in the future. In that way, you will manage to improve your performances and develop crypto trading strategies.

The third thing may be the essential one. People need to choose the digital currency exchange that will meet their requirements. Indeed, there are many of them online that look similar or identical. However, it would be unfair to say they all provide the same quality of services. That is the reason why we would like to analyze how to choose a crypto exchange. The good news is that people need to go through only a few stages to reach their goals. Let’s find out those stages together!

Determine the Right Type of Crypto Exchange

Source:observer.com

There is no just one type of exchange people can find in the market. The first option people have is peer-to-peer exchanges. This type of exchange is an excellent option for those that are looking for privacy. However, in that case, each individual is responsible for his security and the security of his funds. In some cases, it may happen the platform will act as an arbitrator when the cases of disputes occur. However, that is the only thing they do.

On the other hand, full trading platforms are some king of the virtual real estate market. They connect a big number of people that exchange the platforms among themselves. The platform itself offers some specific services such as customizable graphs, margin trading, etc. However, beginners often do not need these features at all.

The third type available to people is brokerage exchanges. These exchanges allow people to sell and buy digital currencies directly from the platform. In most cases, people will need to provide private data to verify their accounts.

Check the Functionality of Exchange

It doesn’t matter how experienced you are. The first thing people need to check if the exchange can complete the transaction they want to make. There is not a universal way of how platforms support the combination of fiat and cryptocurrencies. Some of them do not operate in certain geographical areas. An interesting example of that is some US exchanges that won’t accept transactions from all the states. Because of that, it is better to find out that before starting your journey.

Check the Fees

Fees are different from one place to another. Different fees are good only for a specific type of trader. For instance, let’s imagine that you are a day trader. In that case, you would not want to choose an exchange that comes with high individual transaction fees.

On the other hand, the fees are not going to be the same for deposits and transactions. In some cases, the deposit fees may be low while the transaction fees may be high. Because of that, people should check them all before they make the final decision.

Check the Security

Source:besticoforyou.com

Exchanges ensure that all the transactions are completed quickly. That is probably one of the reasons why digital currencies have experienced popularity growth. However, that also means people should only choose the exchanges that have a high level of security. This part deserves in-depth analysis. Because of that, we would like to highlight all the things people should have in mind.

First of all, the way how people access account needs to be safe. The best exchanges often provide a 2-factor authentication feature. They do that for all the accounts that use their services. Of course, if you decide on an exchange that does not require an account or wallet, that feature becomes irrelevant.

Another factor you should put into consideration is insurance. Indeed, the security of all exchanges is becoming stronger and stronger almost every day. However, thanks to their popularity growth, they become an attractive target for many hackers over time. That is the reason why you need to be sure which types of insurance you have over your funds.

For instance, most professional exchanges carefully follow the regulation of their government. Because of that, they will manage to expand the government-backed deposit insurance to the fiat accounts of their customers. Some exchanges use 3rd party insurance and offer it to their customers. However, something like that people will rarely find.

Check the Reputation of the Exchange

Source:paybito.com

Let’s imagine that you found an exchange that meets your requirements and expectations. The next thing you would probably want to find is social proof that your decision is good. People often use Google to gather some valuable pieces of information. That is the reason why they should check the reputation of the exchange they plan to pick.

There are two options that people have. One place they can gather some pieces of information is mainstream media. On the other hand, they can also visit websites that review all the exchanges. These websites often remain objective until the very end. Because of that, they share pieces of information that can help people make good decisions.

Yet, every individual needs to ensure he is using a reliable source of information. Businesses around the world use different methods to hurt the reputation of their competitors. Because of that, people need to be sure the information they read is not fake. Fake news can only confuse them even more. They can make a bad decision and make a costly mistake later.

Bitcoin Price Prediction In 2021

If you’ve been in the cryptocurrency market for a while, you probably know that the most popular virtual coin is BTC or Bitcoin. Also, you probably know that this cryptocurrency is the most valuable and has had the highest recorded value almost two years ago, in December of 2017 when you could sell one BTC for $19,783. Since then, Bitcoin has been on the decline, with the lowest value in the past two years recorded in early 2019.

Img Source: financenews.tv

However, it is noted that the value of this cryptocurrency is returning to a high level, which may be an indication that next year will be very important when it comes to BTC. A lot of experts have expressed their opinion on the rise and fall of Bitcoin in 2021, so at the moment it is quite interesting and uncertain how things will look like in the future. While no one can predict with certainty, there are some patterns that have been repeated over the years regarding Bitcoin. If you are trading this cryptocurrency, the best solution is to use the detailed statistics and help provided by experts on sites like Profit-Revolution.com. This site is specialized in cryptocurrency trading and helps users to better understand market trends and invest more securely. However, currently, the most important question is what is the forecast for the price of Bitcoin in 2021? Well, keep reading and check the opinions of trade and finance experts.

News on the BTC market that may affect the price

Img Source: bitcoinist.com

Just over a month ago, on September 23, 2019, the long-awaited platform called Bakkt was officially launched, intended to bring a new revolution in the virtual coin’s market. It should provide security and transparency in the BTC business for all institutional and merchant investors. This means that Bitcoin would be more implemented in the traditional financial system and payment methods, and thus return the value closer to the highest recorded.

In addition, the technologies used by BTC can significantly affect the adoption of this cryptocurrency as a widespread and official payment method. For example, currently, the most widespread payment system is Visa. The main advantage is the speed and low cost of transfers. Bitcoin, on the other hand, is lagging behind traditional payment systems when it comes to these features. This could be changed using Lightning Network technology, which is in the process of development and should significantly shorten the time for BTC payments.

Img Source: bitcoinist.com

The price of BTC next year can be significantly affected by Bitcoin block halving. Miners are known to receive a reward for their work. They receive 50 BTC for each mined block. However, the reward is reduced in half to every 210,000 blocks. This means that the next halving will occur during May 2021 and that then the value of one block will be 6.25 BTC. This simply means that demand will at some point be higher than supply and that BTC value will increase.

All of these things can significantly make 2021 perhaps the most important year for all cryptocurrency traders, especially those trading in Bitcoin. Although the current price is below $9500 at the time of writing, this doesn’t mean that the price will fall even lower, but rather that this is a good time to buy extra BTC. This investment may pay off in the coming months because according to expert analysis, Bitcoin is expected to reach perhaps the highest value ever recorded in 2021. Therefore, think carefully and make smart moves.

Cheap vs Expensive Cryptocurrencies – Which One is better For Investing

The world is changing rapidly every day. Every day there is a trend or a novelty that people like very much and easily accept. No matter what category the novelty belongs to, in the first moments of its publication it was well analyzed and then accepted without much skepticism. The novelty can be in terms of technology, some economic step, some easier way of functioning, and so on. Gone are the days when people were very skeptical about new things and needed much more time to accept them. Today, they easily get the information they want to know about the novelty and easily get it, according to which they later decide whether they like the novelty or not.

The news is especially present now in the pandemic. Apart from the novelties, there is also the actualization or intensified return to the stage of some novelties that have been a hit in the past years or in some more distant times. For example, while we were sitting at home, we went back to the old photos and looked at them, we went back to the board games we used to play online, we went back to reading books even though we used to read them online, online payments, online transfers and of course, the most prominent investments. In this period, the most popular investments were the investments in cryptocurrencies, one of the novelties that returned to the big door.

Although 11 years ago these types of currencies were not so well accepted, they still developed and were accepted over the years. It started with only one currency, Bitcoin, which from the very beginning proved to be a very good option. Today, this trend is returning as even more accepted and is often the first option for anyone who wants to make an investment that they know is right. There are over 30 different types of currencies that are successful, but there is a dilemma that everyone who wants to make an investment thinks in their head. Which is better, more expensive, or cheaper cryptocurrency? What is the difference? What if I buy some of the cheaper but successful currencies? We will clarify all these dilemmas today, as we discuss which is a better option, to invest in cheaper or more expensive crypto. Stay with us until the end of this article because we have the answers in it.

Are cryptocurrencies the best investment option?

Source:masterthecrypto.com

Anyone who wants to invest in something The first thing they do is consult with someone who has already invested. And of course, whoever you ask will tell you that stocks are a great option, that there is nothing better than securities, that investing in real estate is a complete hit because one of these options is exactly his choice and therefore he is satisfied. You need a detailed analysis. For example, if you want a profit on an annual basis at the same time every year you will invest in stocks, if you want a monthly symbolic profit you will invest in real estate, and if you want uncertainty, management, monitoring, and profit according to what you do according to skill then the best cryptocurrencies are an option. So prepare well before you invest, read, follow related content and we are sure you will succeed with this investment if you make it.

Cheap vs. expensive cryptocurrencies – what is the best option?

Source:planetcompliance.com

The next thing that investors who are already determined for cryptocurrencies are hesitant about is whether to opt for a cheap or expensive cryptocurrency option. Each of them has its own progress but also its own downfalls. Therefore, prior research is required to select a specific currency. The research should be based on your periodic monitoring of the currency exchange, your monitoring of the impressions of those who have already invested in expensive and cheap currencies, and of course to check which is the biggest and most popular at the moment and which is the cheapest. But keep in mind that the most popular and most expensive cryptocurrency at the moment is Bitcoin, which may be expensive, but offers conditions for a great profit and registers daily growth in stock markets. While on the other hand there are many other smaller and cheaper coins that are relatively new, grow and make a profit, but are not so stable and can easily fail, say from this website which has been dealing with analysis and monitoring for many years. currencies, their ups and downs, and the prices they have had over the years. For this reason, it is good to first make a detailed analysis, to look at how things are, to see the situation with the most expensive coin and the cheapest coins, and finally to make a decision based on all that data.

What does it take to make a successful start with crypto trading?

Source:medium.com

Once you have decided on a successful currency, you need to prepare for a successful start with trading. For a successful start, you need to do everything a beginner does. You need to first select a page or application through which you will perform all trading and tracking in a safe way without any doubt about the authenticity and security of the site or application. Next, choose an electronic wallet where you will keep your coins. Choose one of those that are intended for beginners, because they are the easiest and safest for you. The next step is to decide which mining hardware will serve you in the near future. Find all the hardware that exists for home use and choose the one that will provide you with the best service with its configuration. And at the very end, you need to make a map according to which you will orient yourself to follow the movements of the currency, the news about the currency, and all other events that could happen and affect the success of the currency on the stock exchange. This will allow you to quickly learn and make a successful start as a new trader.

You are now ready for your next investment. Now you know what is right for you as a beginner and how to act. The steps are simple, and even better when you have someone to tell you and guide you. Once you have all this information you are ready for your new beginning – starting as a new crypto trader. Good luck!

What to Consider Before Investing in Cryptocurrency

Crypto trading is getting more and more popular, especially when Bitcoin and other cryptocurrencies are reaching astronomical prices. Experts predict that the value of cryptocurrencies will continue to rise, which is why many people decide to start investing in some of the best performing digital currencies.

Even though cryptocurrencies have been around for a long period of time, people still don’t know the process well enough in order to make a safe investment. Whether you want to buy cryptocurrencies for trading or as a form of investment, you need to take some things into consideration.

In today’s article, we will highlight some of the things that you should pay attention to before you enter this vast crypto market.

Research is Crucial

Source:101blockchains.com

In order to come up with an investment plan for cryptocurrencies, you need to do a lot of research on your own. Reading about cryptocurrencies will help you understand the market, understand what is blockchain, and all the security measures you need to take to make the process much safer.

Since we are talking about a market that is still upgrading, you need to update your knowledge and follow new information about crypto every day. If you know something to be true a couple of months ago the information might be outdated and wrong now.

If you follow Warren Buffet, you must know one of his most popular quotes “Never invest in something you don’t understand”. This strategy applies to every investment in your life. Without having a full understanding of what you are getting into, you run with a bigger risk of losing your money.

Don’t Focus only on Bitcoin

Source:bloco1.com

Once you understand the process behind cryptocurrencies it is time to get your hands dirty. Most people focus only on the biggest cryptocurrency “Bitcoin” which isn’t necessarily bad, but there are many other cryptocurrencies that can turn out to be a good investment.

Also, other cryptocurrencies are much cheaper than “Bitcoin” which is better for people that don’t have a significant budget for investing. Also, the price of other cryptocurrencies can spike up which can multiply your investment many times.

Better Safe than Sorry

You have to understand that you are getting into a market that is full of scams, hacks, impostors and fraudsters, and phishing attacks. It is crucial that you take all the necessary safety precautions just so you can make the process much safer. It only takes a few seconds to lose something that you’ve worked for many years.

You need to be careful when you are entering your passwords and private keys from your wallets, avoid public networks, especially when you are transferring money to accounts. There are thousands of scam exchanging websites that can take all your cryptocurrencies from your wallet.

So, make sure you double-check the URL and research the website before entering any sensitive information.

Invest Only What You Can Afford to Lose

Source:hackernoon.com

We keep hearing that crypto investing is a profitable option, but nobody reads the “Terms and Conditions” that come with such actions. Whether you invest in cryptocurrencies or start trading with stocks, you need to balance your portfolio and only invest what you can afford to lose.

Even though cryptocurrencies are rising at the moment, nobody knows what can happen to this market in the future. There are many examples where people lost all their savings and had taken loans for investing.

In other words, you need to create a risk management plan and make sure you stick to it no matter what. Investing in cryptocurrencies might be tempting, especially when we see how some of the currencies reached astronomical values.

Learn How to Track Your Funds

Managing your crypto portfolio is crucial. Unlike stock exchanges, you need to create multiple accounts on different websites that offer cryptocurrency trading. It is important to understand that different websites support different cryptocurrencies.

Also, many people do the same mistake of keeping their cryptocurrencies on the platform they trade. For example, if you choose to buy bitcoin or ethereum on some trading website, it is important that you transfer your funds to an external wallet. The reason behind this action is because trading platforms are prone to hacker attacks every day. There are many people who lost all of their money after such attacks and an external wallet is a much safer option.

This means that you have to find a good crypto wallet that keeps your funds safe. There are many apps that offer great features when it comes to crypto wallets.

One of the best options is Tezro, which is an all-in-one application that has multiple chat applications that combines all things into one. This means that you’ll no longer need multiple crypto wallets that are costly and hard to track.

Join Crypto Trading Communities

If you are new to crypto trading it is best if you have some sort of guidance before you start trading. There are many crypto trading communities on social media platforms where you can find very useful information that will help you sharpen your trading skills.

There are many Facebook and telegram groups where people with tons of experience and give feedback on the market and provide great crypto trading tips that can be helpful. Make sure that you double-check the information and don’t jump into investments if someone says it is a good idea.

Even though such information can be helpful, it doesn’t mean that you should follow everyone’s advice.

Source:bct.io

Final Words

These are some of the things that aren’t usually mentioned when you start trading. Since you are entering mudded waters, you need to take things slowly and do a lot of research before coming to conclusions.

Crypto trading can turn out to be a profitable investment, especially after we saw the price increase on the bitcoin last year. The value of one bitcoin increased from $8,000 to $39,500 just in one year.

Nobody knows what will happen in the future but experts predict that the price of Bitcoin can reach up to $300K which means that it is a good idea to invest in cryptocurrencies.

5 Mistakes All Crypto Owners and Traders Should Avoid – 2021 Guide

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

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

1. Not arming themselves with knowledge

Source:quantnews.com

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

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

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

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

2. Loss of important data

Source:databackuponlinestorage.com

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

3. Investing in one currency only

Source:bernardmarr.com

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

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

4. Poor risk management

Source:coindesk.com

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

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

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

5. Short term investments

Source:armyofbitcoin.com

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

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

5 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.

Blockchain and CryptoCrypto as a Solution

Ten fabulous predictions for the future of cryptocurrencies

We have grown from paying in cash and then using the cards for online transfers. However, one way or another cash is involved, and it’s getting difficult to carry it everywhere. As we are moving towards everything compact, cryptocurrency was introduced as an effort to give the world an alternative to cash.

Although it’s been ten years since cryptocurrency came into existence, there is still a significant population of people whe are unaware of its significance, or they don’t even know about it at all.

In December 2017, the world find out about bitcoin (a cryptocurrency) when its value increased quickly, and It went up to $22k. People who bought it a long time ago for a hundred or $200, made fortunes. Since then, it’s fluctuating, but the crypto traders and blockchain experts are hopeful that one-day, Crypto will take over the whole world. However, they are looking forward to the many significant countries to make it legal for that to happen.

To this day, only America, the United Kingdom, and Australia have come forward and made the mining and trading of cryptocurrency which you can read more here.

Here are ten fabulous predictions for the future of cryptocurrencies experts made:

Banking Sector

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As cryptocurrencies are a means of finance, they have a lot to do with banking and finance sectors. Experts predicted that as the people start using the cryptocurrencies more, the banks will eventually accept them, and it will also allow banks to reduce their amount of complexities. They said that banks would offer cryptocurrency accounts, debit cards, you will be able to buy cryptocurrency directly from ATMs and cryptocurrency loans will be provided as well.

Swift processing:

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Process of buying things online or sending money to your loved ones across the world, there will not be any processing time. Your loved ones or anyone won’t have to wait for 3 to 5 days to get their hands on the money you sent. With cryptocurrencies, all the processes will be swift. You can make small or substantial transactions without worrying about the transaction fee because the fee will be low as compared to traditional means of money transfers.

Crypto Trading

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Bitcoin is the most popular and profitable cryptocurrency to date. New currencies are coming into existence. Some of the existing ones are emerging and becoming more famous day by day, Cryptocurrencies like Ethereum, Litecoin, Ripple, and Steller. There is going to be a significant rise in their value, and eventually, their prices will go high as bitcoin.

With the increase in cryptocurrency value, traders see a profitable bright future in crypto trading. With the growth in the value of these currencies, exchanges with one another are happening doing well in life. More often. People are buying and selling them, some people have become full-time crypto traders.

Blockchain and CryptoCrypto as a solution:

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As more and more industries are seeing blockchain as the ultimate solution for securing their data. With blockchain comes crypto currency, if you can become a licensed cryptocurrency minor, in future, you may be able to support entrepreneurs with loans, saving them from massive interests and lengthy processes of the bank loans. Although some developments still have to take place, we are talking about the future and the possibilities cryptocurrency is going to present.

Adaptation by the Government authorities:

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In the next ten years, countries will start adapting cryptocurrencies for governmental transactions under the SEC instructions. Blockchain is capable of simplifying the process of inter-agency or inter-authorities confirmation. Currently, every agency must maintain its database and then wait for the other one to process and give it a trough.

Date management and sharing of resources and distributed ledger will simplify and speed up the process, taking away all kinds of delays. To manage the cash flow in the country, cryptocurrencies will be chosen, and once they are implemented, this will empower the technology even more.

IOT & Crypto:

Source: freecodecamp.org

IoT is already ruling the world with its offerings, and some experts are very positive about these two techs are to serve the society by the joined venture. The first goal is to use a blockchain for secure and scalable communication between IoT abled devices and to provide stability to allow micro-investments in an efficient way for smart devices. I will only make the article complex and lengthy if I started talking on this topic. So let’s keep it to the point for now.

The $1M Claim:

Source: freecodecamp.org

An expert has predicted that by the end of the year 2020 bitcoin closing price will be $1 million. An extreme claim, but if we take a look at bitcoin’s growth in the past 2-3 years, this claim is believable. If the bitcoin can hit the $1 million mark, it will take over the world’s economy, making the dollar knight of the past.

Everyone will be paid in CryptoCrypto:

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Some of the freelance workers and developers are already being paid in CryptoCrypto. Many of the world’s big companies have started to pay by using bitcoin and some other cryptocurrencies for the services they acquire from the internet (freelancers).

As no intermediary or bank transfers involved, this benefits both the service providers and service buying company as well in terms of transaction fees, and it removes delays as well. However, these transactions are only possible for the countries that have legalized the cryptocurrencies.

Volatility:

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Many measures are being taken to remove the volatility factor in cryptocurrencies. The regulation of the markets and country are factors behind. Once the cryptocurrency trading reaches the peak, these factors will go away, eventually taking away the only fear concerned with cryptocurrency.

Cryptocurrencies:

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The new cryptocurrencies are going to emerge, as bitcoins, Litecoins, and Ethereum have made a powerful impact and impression on the world. And they are the first products provided by the blockchain. There’s a high chance there will be more innovative cryptocurrencies will be invented in the coming years.

Conclusion

Cryptocurrencies and blockchain are the technology of the future. If you adapt or start learning them now, you can be part of changing the world’s financial curve. They are the alternatives of every technology being used to secure and store data and to open new ventures to support the innovative foresighted entrepreneurs.