digital money

5 Tips for Finding Reliable Bitcoin Trading Apps

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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?

Source:nairametrics.com

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!

Should You Invest in Cheap Cryptocurrencies?

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The digital currency industry has been ever-present from the moment the first example of it saw the light of day back in 2009. Back then, when bitcoin stepped onto the scene and changed both technology and finance forever, a few people recognized its potential immediately. It took the wider population some years to understand what it is, how it works, and whether or not it can be useful. Fast forward some 12 years and a single bitcoin is worth around $40,000.

However, it is hardly the only cryptocurrency out there in the world, and neither is it the only one worth your time, nerves, and investment money. By some estimates, there are over 2,000 cryptos in existence today, with new ones coming and going away each year. This crazy amount of potential investment opportunities cannot and must not be ignored especially if you are looking for lucrative ways of making additional money on the side. Passive income is done the best way with the help of virtual currencies, so why wait?

Since it took other types of digital money a few years to catch up to the king called bitcoin, it is currently by far the most valuable one you can pick and invest in. By the time others started joining in bitcoin was already way ahead, a trend that is still relevant. Despite this, you should always diversify your investment portfolio and spread the total amount you are ready to put down among a few prominent cheaper cryptocurrencies. Now, mind that by cheaper we generally mean anything that is not BTC, since it is incomparably more valuable and famous.

In the article ahead you will learn everything there is about cheaper digital money. If you are still wondering about whether you should invest in cheaper cryptocurrencies and would like to learn more about the prices and the market in general, make sure to click here. Following is the list of the best options with their prices at the moment of writing.

1. Ethereum (ETH) – $1,218

Source:uktech.news

The second most popular and valuable cryptocurrency is ethereum, first launched in 2015. It is the best alternative for anyone looking to invest in something other than BTC. It also has the second-largest market cap (around $15.6 billion), but the difference between then is still enormous. In 2020, it was only one tenth of what bitcoin has. EHT is actually a decentralized software platform and not just a digital coin. The coin is actually called ether. The platform it is based on enables smart contracts and DApps (decentralized apps), which can run without any frauds, scams, control, third party interference, or even downtime. Ether is the token these apps and programs run on, and it practically serves as a vehicle that moves throughout the whole system. The best use of this form of cryptocurrency is definitely achieved by developers who run and develop apps within the ethereum platform. However, more and more investors are also looking to make more purchases of other virtual currencies through ether.

2. Litecoin (LTC) – $142.30

Source:bitcoinist.com

Launched two years after bitcoin in 2011, it is among the first clones and competitors of bitcoin. This crypto tried to capitalize on the initial success and estimations of bitcoin and it has done somewhat of a good job. People generally think of and refer to it as silver in comparison to bitcoin’s gold, which is fair. Charlie Lee, a graduate of MIT and a former engineer with Google, based it on the open-source global payment network no central authority controls. While it is similar to bitcoin in many ways (including the catchy and similar name), its rate of block generation is faster. This means that all the transaction and confirmation times are shorter making this a more efficient cryptocurrency. Developers and investors like it and use it alike, but merchants and various business owners have started accepting it at legitimate payment too. For the better part of 2020, the market cap of litecoin was over $3 billion. It has a lot of potential and should therefore be on your radar.

3. Ripple (XRP) – $0.274

Source:ft.com

Before you ask why ripple is worth so little, bear in mind that not all digital currencies are the same nor are they used for the same things. Here we have a real-time global settlement network that works by offering users a certain, low-cost, and near-instant access to international payments. Ripple was launched in 2012, which makes it one of the oldest in existence. It is advertised as something that enables the banks to settle payments across the border in real time, using end to end transparency and low costs. There is no mining because its ledger is unique. Instead, the whole total was pre-mined before the initial launch so you cannot create more of it as time goes by. There is only removing and introducing XRP from the market supply if the guidelines of the network allow it. This basic difference is what makes ripple different from bitcoin, ethereum, and the others. No mining means no computing power needed, resulting in less network latency and minimal electricity bills. In January of 2020, the market cap for XRP was $9.2 billion, making it one of the most valuable in the world.

  1. Tether (USDT) – $1- January 2020 market cap of $4.6 billion
  2. Bitcoin Cash (BCH) – $482- January 2020 market cap of $4.4 billion
  3. Diem (formerly Libra) – $1.35 – New cryptocurrency with a bright future, proposed by Facebook
  4. Monero (XMR) – $160.146 – January 2020 market cap of nearly $1 billion

Conclusion and Takeaways

Basically, to answer the titular question simply, yes, you should definitely invest in cheaper cryptocurrencies. The reason behind it is that the worth per coin is not always the best judge of how much the coin is actually worth. As mentioned, there are plenty of ways these digital currencies can be utilized and they are never really interchangeable. This is exactly why you should diversify your investments and opt to invest in much more than one single cryptocurrency. If you already have money in bitcoin, it is definitely time to start thinking about the rest of them.

Bitcoin – The Valuable Cryptocurrency And Its Trading Statistics

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You have probably heard of bitcoin, open-source software, or digital cryptocurrency, the value of which can only be exchanged in virtual space. The cost and value of the invention of an anonymous developer or group of developers under the pseudonym Satoshi Nakamoto are particularly interesting, even revolutionary. Especially considering that bitcoin is not subject to the powers of central banking systems.

Bitcoin = Anonymity, Autonomy, Decentralization and Independence

Bitcoin development is aimed at anonymity, autonomy, decentralization and independence from world governments, banks, corruption, malpractice and even ideological systems. What particularly catches our attention is the fact that the apparent value of cryptocurrency is not in financial terms. Bitcoin is revolutionary and innovative. Therefore the greatest value of digital money lies primarily in its transaction system.

The Revolutionary Bitcoin System

Source:news.bitcoin.com

This currency is not printable and the total amount of money that can be created is limited to just 21 million bitcoins. As interest in bitcoin skyrocketed, so did the value of cryptocurrency soaring through the end of 2017. Let’s just mention that on December 17, 2017, bitcoin had the highest value ever achieved, but in just one year in December 2018, with turbulent exchange rate fluctuations, its value declined dramatically.

Although the price index varies, its actuality does not decline. This is supported by the fact that more and more people are interested in buying bitcoin, and that some countries have introduced this cryptocurrency as legal means of payment. Perhaps the discussion about bitcoin pricing today is not so important, but that is why the system that manages bitcoin is revolutionary.

It also hides the highest value of this cryptocurrency. Before presenting the true value of bitcoin, let’s explain in a simplified way how it works.

Why Is This Cryptocurrency Valued And Valuable?

Digital money itself does not have any particular innovative value, but it does have a system by which it is distributed. A successful and reliable bitcoin transfer is possible due to P2P or blockchain technology. To put it simply, it is a financial ledger that records the amount of money in virtual accounts as well as the entire history of bitcoin transfers online.

We can also interpret this transaction history as a chain of all transactions ever made, with a total sum of 21 million bitcoins in the future. We say in the future because the final or the total number of bitcoins made – has not yet been reached. A transaction or a block cannot be modified or deleted, which means that no criminal financial action can be taken. Very revolutionary, isn’t it? However, this is not the only level of revolution.

The next level of innovation is the decentralization of transaction records. There is no single central registry, but the entire blockchain file is stored on the node drives (or users, ie miners). Each new transaction is instantaneously recorded and updated with each of the users (nodes), and there is no “central authority”.

Application Of Digital Money In Different Countries Of The World

Bitcoin is a deflationary currency in the market. Besides digital payment, it is also used for other purposes. One such has been recognized in the facilitated international distribution of funds. Its good side is particularly emphasized in the case of migrants who can transact in this cryptocurrency in foreign countries. All can be done without the additional, high costs of international transaction services.

Another common purpose of bitcoin is to invest. Funding and buying bitcoin has become a major investment. Let’s just take, for example, that in 2017 the value of bitcoin doubled four times. Buying bitcoin at a low price and selling at a high has made a profit for many people on the stock market, which is another example of using this cryptocurrency.

What is the Open Interest Chart?

Anyone who has already entered the bitcoin trade seriously enough – knows that keeping track of statistics means managing information. In this sense, the term “open interest” is often referred to.

And what exactly is it? Bitcoin open interest represents actual open positions on BTC / USD trading pairs. This data is recorded from 2018. If open interest reaches more than 100,000 bitcoins – higher volatility in the price of this cryptocurrency may be observed.

Longs vs Shorts Interests

Longs and shorts data are provided to help users understand better the amounts of long and short positions that are open in valuing USD. Statistics are of the utmost importance here because they show users real-time data. According to bitmexresources.com – this kind of data is sometimes crucial to determine the values and predict the next steps in the bitcoin market.

Bitcoin As A Legitimate Cryptocurrency

Source:marketwatch.com

The value of bitcoin currency varies and is interpreted differently from country to country. While some countries are more than determined to accept bitcoin as a legitimate digital payment currency in the country, there are also countries that, due to their inability to tax, avoid accepting bitcoin as a legitimate means of online payment.

In the US, the Internal Revenue Service treats all prominent digital currencies, including bitcoin, as property, not currency. In other words, every taxpayer who sells or buys bitcoin must report the value of the bitcoins used in the annual tax return. This tax regulation is also subject to miners who make a profit by “digging out” missing pieces of code in the blockchain. Unlike America, the European Court of Justice recognizes and treats bitcoin as a currency.

Although not subject to value-added tax, bitcoin is taxed otherwise. In Britain, the tax administration treats bitcoin as a foreign currency, where each case regarding this cryptocurrency is considered based on individual facts and circumstances.

In addition to these countries, it is also worth noting that the use of bitcoin will lead Sweden to the first cashless nation. However, in less developed countries or countries hit by financial crises, such as Venezuela and India, bitcoin is a means of legitimately paying for goods and services.

The Strongest Value Of Bitcoin

Source:computerworld.com

As we explained earlier, the greatest value and importance of bitcoin lies in its transaction protection system – the blockchain system. With bitcoin, for the first time, we have a system where corruption and other financial malpractices are not possible. That gave many people an idea to think more broadly. If it is possible to implement a system of protection and transparent presentation of the flow of money online, then maybe it is possible to apply this system in other spheres of ownership. In other words, the advent of bitcoin may be the first revolutionary achievement since the advent of the internet.

Its importance is primarily recognized in the blockchain system. This system provides security based on the interest of system participants in managing without fraud. Why? Because that’s the only way they can benefit from the system. Blockchain is even recognized as a system that is far better quality and more efficient than VAT. Once a block in a blockchain is printed, no further manipulation is possible.

Conclusion

The revolution made by bitcoin in the virtual space is very likely to spread more and more to other social forms and structures. That is why it is very important to follow the flows and technological innovations, to acquire knowledge and to improve. It is only a matter of time before the virtual guarantee of the Internet will be the only valid and secure system of social organization.

 

 

 

 

Reasons why cryptocurrencies are here to stay

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Years from now, who would think about us using 4G or 5G that we will need to rely on in order to perform money transfers and transactions in our daily lives? Starting from paying for our commute to work to ordering clothes online. The Blockchain is one such technology, that will soon transform the way industries work. Before we look at the reasons cryptocurrencies are the future, let’s first take a look at what are cryptocurrencies and what is the Blockchain technology.

What is Blockchain?

The blockchain is a technological creation, that forms “chains of blocks”, under the DLT (distributed ledger technology). Each of the blocks contains data from various transactions, which are all secured and verified. They serve as the base of the technology in which cryptocurrencies act as assets. Potential applications include transferring funds, settling trades, voting, and other things.

What are  Cryptocurrencies?

Cryptocurrencies are resources that work in the Blockchain technology, known as the medium of exchange for the digitalized era. One of the most popular currency is Bitcoin. All of the transactions are decentralized, and there is no involvement of banks or governments. It is an advanced technology, which is expected to be accepted by people all around the world.

Here are the reasons why cryptocurrencies are the future:

Img source: steemit.com

1. It prevents scams and hacks – one of the best advantages of these currencies is that it will prevent payment scams. When needed, the data will be acceptable to all users, which leads to transparency. Blockchain has a shared ledger which no one can tamper with. Information will be shared in real time, and the ledger will be updated when all the involving parties agree on it. This can reduce the chances of fraud, as well as reduce the time and costs needed for specific transactions.

2. More employment opportunities – the job market in the crypto world is expected to grow. Today, there are several places where people can get training in this technology. However, as the demand becomes higher, the supply also increases. Some of the jobs that might be available are cryptocurrency traders, full-stack bitcoin developers, blockchain solution architects, and so on.

3. Blockchain in financial institutions – now that some financial institutions are aware of the disruptiveness of Blockchain, it is expected that it will reach a critical mass by the year 2020. This technology allow to speed up the whole process by implementing cross-border payments, it can also help with commercial transactions and agreements by using “smart contracts”.

4. It is easy to use and it is secure – it is already easy to use this technology, and it is expected o be even easier. For example, when property transfers are secured by blockchain technology, we will no longer need to rely on a third party to verify them.

Img source: namecoinnews.com

5. Transactions are fast and private – bitcoin can do up to seven transactions each second, thanks to its Lightning network. This means that the application will be able to perform millions of transaction per second. It will most certainly help with the adoption of Bitcoin and other cryptocurrencies.

6. Investment is easier – by tracing the bitcoin exchange rates. There are various companies that offer bitcoin exchange rates. Companies like Areatak Global offer people the chance to see updated lists in real time, and it is also free of charge. So, if you are interested in what the exchange rates are, make sure to check the lists.

Conclusion

One of the most important features of cryptocurrencies is that YOU own it. There is no other electronic cash system today in which your account will be entirely yours — for example, PayPal. If the company decides that your account is being misused (for any reason), they have the power to freeze your account. With cryptocurrencies, only you will own the key to your account and only you will be able to access your funds. No one will be able to take your money from you, and that is one of the most beautiful things about cryptocurrencies.

The Benefits of Cryptocurrencies

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The world is becoming more economically unsafe and cryptocurrencies might help you fight the feeling of someone harming your economic status. Cryptocurrencies or as we know it today „digital money“, is based on blockchain technology. This kind of technology creates a digital ledger of all assets, whether it is money, tangible property, vehicles, or stocks. Bitcoin is the most famous one, but it is just a drop in the ocean. As these platforms are becoming increasingly popular, and are becoming more accessible, it is important to know what are the actual benefits of this currency.

source: rau.ua

Before taking a look at the benefits of cryptocurrencies, here is a list of the cryptocurrencies that are already widely used:

source: rs.n1info.com
  1. Bitcoin
  2. Dash
  3. Ripple
  4. Dogecoin
  5. Litecoin
  6. Peercoin
  7. Ether

Here is a list of benefits you might get by using cryptocurrencies:

source: talismanian.com

1. The integrity of transactions – this type of currency cannot be transferred to a third party without the user. Hence, with this kind of transactions, there will be no risk of fraud or cheating. The user will be in complete control of the transaction and currency, which is hosted on centralized technology. There will be no chance of any third party to interfere or manipulate the payment or the sender reversing the payment. It requires less trust and worry than in traditional banking.

2. 24/7 tracking of payments – traditional systems require the senders to track their payment by using the bank systems throughout three days or, sometimes, even more. This creates doubt for the sender, as well as the receiver of the money. With crypto transactions, you will be able to track it every second, and you will be able to know the exact time the funds are delivered. This, on the other hand, creates trust between the sender and receiver. These kinds of deliveries are more safe and secure in the digital form, and that is one of the main reasons banks are starting to use this technology.

3. Security of currency and transactions – you are already familiar with credit card fraud and identity theft. Instead of worrying about purchasing something online, cryptocurrencies are at the moment, the safest and easiest means of shopping online, without risk or loss of money.

4. Confidentiality and privacy – banks will require full knowledge of all your details, while cryptocurrencies do not require more information than you are willing to give. Your payment is strictly made between you and the receiver of the funds. Hence it is perfect for people who want privacy and anonymity. Of course, you should keep in mind that different coins come with a different kind of anonymity, and before purchasing anything, you will need to do some research.

5. It is available to everyone – since all cryptocurrencies are easily and without effort accessed on a decentralized network, anyone can earn cryptocurrencies. The wide range of Blockchain applications that are developed or are being developed is designed to make access to banks, bank charges, and high-interest loan rates less severe. They are designed to be available to everyone in the marketplace.

6. Quicker transactions – when buying property or vehicles, the costs, time with bank approvals, and drawing up contracts can be stressful and time-consuming. Cryptocurrencies enable you to make immediate payments on property and asset transactions. These transactions do not require a middle-man, and since the blockchain is decentralized, it is solely based on a peer-to-peer system that also avoids any kind of currency exchange difficulties in cross-border transactions. The smart contract process will make sure that the transactions are recorded and legitimate, without any legal or broker costs.

Conclusion

source: goemerchant.com

In short terms, you can see that cryptocurrencies are not only beneficially for the wealthy and privileged, it is something that will be able to enhance the lives of everyone, even ordinary people, doing ordinary things. It is the way of future payment methods.