Financial advisors are still reluctant to use cryptocurrencies. Investor demand may change that

Bitcoin has been in the news for the last few weeks, but many people are still unaware of it. Can Bitcoin be the future of online currency? This is just one of the frequently asked questions about Bitcoin.

How does Bitcoin work?

Bitcoin is a type of electronic currency (CryptoCurrency) that is autonomous from traditional banking and entered circulation in 2009. According to some leading online retailers, Bitcoin is considered the most famous digital currency that relies on computer networks to solve complex mathematical problems to test and recorded the details of each transaction made.

The exchange rate of bitcoin does not depend on the central bank and there is no single body that manages the supply of cryptocurrencies. However, the price of bitcoin depends on the level of trust that users have, because the more large companies accept bitcoin as a method of payment, the more successful bitcoin will be.

Benefits and risks of Bitcoin

One of the advantages of Bitcoin is the low risk of inflation. Traditional currencies suffer from inflation and tend to lose their purchasing power every year as governments continue to use quantitative easing to stimulate the economy.

Bitcoin does not suffer from low inflation, because Bitcoin mining is limited to only 21 million units. This means that the release of new bitcoins is slowing down and that the full amount will be excavated in the next few decades. Experts predict that the last Bitcoin will be mined by 2050.

Bitcoin has a low risk of collapse unlike traditional currencies that rely on governments. When currencies collapse, it leads to hyperinflation or deleting someone’s savings in an instant.

The Bitcoin exchange rate is not regulated by any government and digital currency is available worldwide.

Bitcoin is easy to carry. A billion dollars in Bitcoin can be stored on a memory card and put in your pocket. It’s so easy to transport bitcoins compared to paper money.

One flaw of Bitcoin is its unnatural nature, because governments and other organizations cannot trace the source of your funds and as such can attract some unscrupulous individuals.

How to make money with Bitcoin

Unlike other currencies, there are three ways to make money with Bitcoin, savings, trade and mining. Bitcoin can be traded on open markets, which means you can buy Bitcoin at a low price and sell it high.

Bitcoin volatility

The value of bitcoin has fallen in recent weeks due to the sudden suspension of trading on Mt. Goxu, which is the largest bitcoin exchange in the world. According to unverified sources, the trade was stopped due to the theft related to flexibility, which is stated to be worth more than 744,000. The incident affected investors’ confidence in the virtual currency.

According to the Bitcoin chart, the bitcoin exchange rate rose to more than $ 1,100 last December. Then more people became aware of digital currency, then the incident with Mt. Goxom and dropped to about $ 530.

In 2014, we expect bitcoin to grow exponentially worldwide with both retailers and consumers, Stephen Pair, co-founder of BitPay and the CTO, â € œwe expect to see the highest growth in China, India, Russia and South America.

India has already been listed as the next probably popular market that Bitcoin could enter. Africa could also benefit greatly from using the BTC as an exchange currency to get around without a functioning central bank system or any other country that relies heavily on mobile payments. The expansion of Bitcoin in 2014 will be led by Bitcoin ATMs, mobile applications and tools.

World Experiences Bitcoin

More people have embraced the use of Bitcoin and supporters hope that one day consumers will use digital currency for online shopping and other electronic business. Large companies have already accepted payments using virtual currency. Some of the big companies include Fiverr, TigerDirect and Zynga, among others.

The future of Bitcoin

Bitcoin works, but critics say the digital currency is not ready for use by the mainstream because of its volatility. They also point to hacking the Bitcoin stock market in the past which has resulted in the loss of several million dollars.

Proponents of digital currencies say there are newer stock exchanges overseen by financial experts and venture capitalists. Experts added that there is still hope for the virtual currency system and that the projected growth is huge.

I hope this article has helped you gain a much clearer understanding of Bitcoin, its potential, whether Bitcoin works, and how Bitcoins work. For more articles on Bitcoin, weekly trends, information and updates, subscribe to our blog post.

A cryptocurrency that continues to fascinate the world, the first of its kind, Bitcoin was once a fully posh realm of technological geniuses eager to support a philosophy of maximizing autonomy, but Bitcoin has a chance to celebrate with the promise of a wide range of consumer bases. Still, the question remains for uninformed consumers. So what exactly is Bitcoin? Some really have yet to unravel this overly fluctuating cryptocurrency. Generated and stored electronically, Bitcoin is actually a form of digital currency. In fact, no one can control the network, the currency is decentralized. It was created in 2009, as the idea of ​​an individual with the false name Satoshi Nakamoto. Using P2P technology to function, Bitcoin has the characteristic and flexible ability to swallow anyone who is interested. Its worldwide acceptance is a feature that contributes to its popularity.

Without responsibility to anyone, Bitcoins are pretty unique. Bitcoins are sovereign with their own special rules and no bank prints them in secret, but miners, digitally produced by a good number of people involved in a colossal network or community. Miners usually use enormous computing power, and a lot of competition is involved in Bitcoin mining. Computers work to solve complex mathematical problems. Competitive miners also have the prospect of earning bitcoins in the process, just by solving problems. Although, the severity levels of these problems are becoming more intense day by day. Transactions on the Bitcoin network are relentless and incessant, and monitoring of these transactions is quite systematic. The Bitcoin network keeps it methodical, because during a certain period of time, all transactions are collected in a block. The miners should confirm the transactions, and everything is listed in the general ledger, which is simply a set of blocks, called a blockchain. Blockchain actually holds the key to the details of any transaction made at different Bitcoin addresses.

Integrating bitcoin into people’s lives is currently the most desirable thing. This is quite easily achieved with the advent of exchanges. Bitcoin enthusiasts can have a great choice when they want to acquire this digital currency. The bitcoin exchange allows consumers to buy or sell bitcoins using fiat currencies. Exchange is plentiful, but initially Mt. Gox was the most famous and widely used, before its collapse. In addition to exchange offices, consumers can buy or sell bitcoins by wire transfers, cash or credit / debit card payments. Stock exchanges offer a secure platform for real-time trading. Enthusiasm and relentless madness always accompany bitcoins. With many enthusiasts eager to trade bitcoins, it seems that the young currency and all the craze around it is growing a little bit every day. All the knowledge associated with it seems to be just as important as the currency itself. The importance of the “Bitcoin wiki”, an autonomous project, can in no way be denied. It will act as a repository of knowledge for Bitcoin enthusiasts around the world.

Do you know that you can earn up to 40% interest on your small investment in a few days? You can invest your money and eat only your profits without doing anything. Cryptocurrency gives you the opportunity to invest online with a 100% return on investment guarantee.

In this great catastrophe facing the whole world, it is important that people know how to live from the comfort of their home. There are so many online investment companies that will pay you more than your employer. If you invest in a reputable online company, you will easily slip into your financial freedom. While others play games with their phones, eat their resources and complain about hard times, others make money using their phones and small resources in investments that pay 40% interest within a few days.

There is no hope that life will return to normal due to this global pandemic, so enduring in this unprecedented time is a matter of the greatest concern for others to help us take care of family and our lives in general in this time of global uncertainty.

It is advisable to look at online investments through cryptocurrency that allows you to make about 40% of your total investment. Life is, for now, shifted to what we can do online, so it is important to focus our energy on online trading.

There are many people who have no idea about cryptocurrency and how to take advantage of this high trading boom that has the ability to take you to the desired financial level, and there are people who have been reading for a long time and looking for a job without deciding to trade.

Cryptocurrency is a global currency whose value continues to grow even in these times compared to our usual currency, so investing in cryptocurrencies like gold mining is because we are now in the future, the computer is taking over business and the unemployment rate is deteriorating day by day. Life moves from what it is to what it should be (cryptocurrency). If you have yet to start investing in cryptocurrencies then you are still living in the past.

You may have been looking for this opportunity where you can invest and make stress-free money with a reputable online company and investments that don’t require luck or foresight to earn your interest.

In 2017, Bitcoin experienced great growth and people made a lot of money in the process. Even today, Bitcoin is one of the most lucrative markets. If you are just starting out, you may want to do your homework before investing in Bitcoin. Here are 5 expert tips to help you avoid some common mistakes when trading Bitcoins.

1. Learn the basics first

First of all, you might want to learn the basics to get a better idea of ​​how to buy and sell Bitcoin. In addition, you may want to read reviews of popular Bitcoin exchanges to find the best platform.

As with any type of financial investment, you may want to find ways to protect your investment. Make sure your property is safe from scams and cyber-attacks. After all, security is the most important aspect of any type of investment.

2. Consider market capitalization

It is not a good idea to make this type of decision based only on the price of the coin. However, the value of a cryptocurrency is only valid if you take into account existing stocks in circulation.

If you want to buy Bitcoin, don’t focus too much on the existing value of the currency. Instead, you may want to consider total market capitalization.

3. Invest in Bitcion instead of Bitcoin mining

The bitcoin mining industry is growing in popularity at a rapid pace. Initially, it was not difficult to earn bitcoins by solving cryptographic puzzles. Later, it was possible to mine Bitcoin only in special data centers.

These centers are full of machines designed for Bitcoin mining. Today, if you want to build a mining center at home, you may have to spend millions. So, it is better to invest in bitcoins.

4. Diversify your investments

New investors in Bitcoin usually have a short-term passion for cryptocurrencies. In fact, with Bitcoin, you can diversify your investment risk. If you invest wisely in cryptocurrencies, you can enjoy the same rewards as investing in Forex. All you need to do is put together a solid risk management strategy.

In other words, you may not want to put all your eggs in the same basket. So you may want to invest in other cryptocurrencies.

5. Set Clear Targets

Since Bitcoin is a new market, you may find it difficult to determine the right time to trade your Bitcoins. The value of Bitcoin is variable, which means you should have clear goals in terms of profit and loss.

You may not want to make mistakes when making investment decisions based on your emotions. Smart moves can help you reduce losses and make good progress.

In short, if you are going to invest in Bitcoin, we suggest you follow the tips given in this article. This will help you make wise decisions and be on the safe side at the same time. Just make sure you avoid common mistakes when running this business.

Cryptocurrency has not only provided the fastest way to transfer money, but also a new entity for trade and earnings, apart from stocks and other commodities. Although you can sell and buy Bitcoin directly, you can also use Bitcoin trading exchanges to continue trading cryptocurrencies. There are many exchanges where bitcoin trading is safe and secure, and many expanded services have been made easier for customers. Since you are an investor or cryptocurrency trader, you can choose any of the stock exchanges for your convenience. However, it is recommended that you take a look at some reviews before giving up on one. Below is a brief overview of the best Bitcoin exchanges around the world.

CoinBase: It is probably one of the most reputable and largest exchanges for trading bitcoins with double trading directly and through a wallet. CoinBase was founded in 2012 as a venture invention of the Y-Combinator and has grown rapidly since then. There are many lucrative services such as multiple options for depositing and withdrawing cash, money transfers between two CoinBase are current, wallets with multiple signature options for more secure transfers, Bitcoin deposits are insured for any loss, etc. CoinBase has a wide range of payment partners in Europe and the US, which seamlessly allow transactions to take place through them. It has relatively low transaction fees and offers bitcoin trading along with a large number of Altcoin trades.

CEX.IO: One of the oldest and most reputable exchanges launched in 2013, London as a Bitcoin Trading Exchange and also as a facilitator for cloud mining. Later, its mining power grew so enormously that it held almost half of the network’s mining capacity; however, it is now closed. “CEX.IO” allows customers to expand to a much larger amount of Bitcoin stores and has the ability to immediately make Bitcoin available at the requested price. However, this exchange is subject to a slightly higher amount of exchange, but this is offset by the security and ability to enable a multi-currency transaction (dollar, euro and ruble) to purchase Bitcoin.

Bitfinex: It is one of the most advanced trading exchanges and is especially suitable for experienced cryptocurrency traders. With high liquidity for Ethereum as well as Bitcoin, this exchange has better options such as leverage, marginal financing and multi-account trading. In addition to this, Bitfinex offers customizable GUI features, many types of accounts, such as limit, stop, trailing stop, market, etc. This exchange also offers about 50 currency pairs that can be traded and with easy withdrawal for everyone. One of the largest exchanges in terms of trading volume Bitfinex offers pseudonymity for trades and requires identification for only some of the services. The only drawback of this exchange is that it does not support the purchase of Bitcoin or any other altcoin through fiat transactions.

Bitstamp: Founded in 2011, it is the oldest exchange that offers cryptocurrency and bitcoin trading. The most appreciated because, despite being the oldest, he has never been endangered until recently. Bitstamp currently supports four currencies Bitcoin, Ethereum, Litecoin and Ripple, and is also available with the mobile app, in addition to the trade website. It has excellent support for European users or merchants who have an account with Euro banks. Security is also advanced and cold storage type, which means that coins are stored offline. So you can say that it is completely impossible for any hacker to infiltrate. Finally, its complex user interface suggests it is not for beginners but for professionals and offers relatively low transaction fees.

Kraken: It is one of the largest stock exchanges for bitcoin trading in terms of liquidity, volume of crypto trading in euros and trading in Canadian dollars, US dollars and yen. Kraken is the most respected stock exchange run through the turmoil in cryptocurrency trading and has managed to keep the amounts of buyers regardless of whether other stock exchanges have been hacked at the same time. With 14+ cryptocurrency trading facilities, the user can deposit fiat as well as cryptocurrency along with similar withdrawal capacity. However, it is not suitable for beginners, but it has better security features and low transaction fees compared to CoinBase. The most important factor for Kraken is that he is trusted in the community and that he was the first to show the quantities and prices at the Bloomberg terminal.

In 2008, after the financial crisis, a paper entitled “Bitcoin: Peer-to-Peer Electronic Cash System” was published, which described in detail the concepts of the payment system. Bitcoin was born. Bitcoin has attracted the attention of the world because of its use of blockchain technology and as an alternative to fiat currencies and commodities. Named the next best technology after the Internet, blockchain has offered solutions to problems we have failed to solve or ignored in the last few decades. I won’t go into the technical aspect of it, but here are a few articles and videos I recommend:

How Bitcoin works under the hood

A gentle introduction to blockchain technology

Have you ever wondered how Bitcoin (and other cryptocurrencies) actually work?

To date, on February 5, the authorities in China have just presented a new set of regulations banning cryptocurrency. The Chinese government already did that last year, but many bypassed it through exchange rates. He has now hired the almighty “Great Wall of China” to block access to foreign exchanges in an attempt to prevent its citizens from conducting any cryptocurrency transactions.

To learn more about the attitude of the Chinese government, let’s go back a few years to 2013, when Bitcoin became more and more popular among Chinese citizens, and prices rose. Concerned about price volatility and speculation, the National Bank of China and five other government ministries released an official notice in December 2013 entitled “Bitcoin Financial Risk Prevention Notice” (link in Mandarin). Several points were highlighted:

1. Due to various factors such as limited supply, anonymity and the lack of a centralized issuer, Bitcoin is not an official currency but a virtual commodity that cannot be used on the open market.

2. Not all banks and financial organizations are allowed to offer Bitcoin-related financial services or engage in Bitcoin-related trading activities.

3. All companies and websites offering Bitcoin-related services must register with the required government ministries.

4. Due to the anonymity and cross-border characteristics of Bitcoin, organizations providing Bitcoin-related services should implement preventive measures such as KYC to prevent money laundering. Any suspicious activity, including fraud, gambling and money laundering, should be reported to the authorities.

5. Organizations providing Bitcoin-related services should educate the public about Bitcoin and the technology behind it and not mislead the public with misinformation.

In layman’s terms, Bitcoin is categorized as a virtual commodity (e.g. in-game loans) that can be bought or sold in its original form and cannot be exchanged for fiat currency. It cannot be defined as money – something that serves as a medium of exchange, a unit of account and a storehouse of value.

Although the notice is dated 2013, it is still relevant to the Chinese government’s position on Bitcoin and as mentioned, there are no indications of a ban on Bitcoin and cryptocurrency. Instead, regulation and education about Bitcoin and blockchain will play a role in the Chinese crypto market.

A similar notice was issued in January 2017, reiterating that Bitcoin is a virtual commodity, not a currency. In September 2017, the initial coin offer (ICO) boom led to the publication of a special notice entitled “Notice on the prevention of financial risk of issued tokens”. Shortly afterwards, ICOs were banned, and Chinese stock exchanges were investigated and eventually closed. (Hindsight is 20/20, they made the right decision to ban ICOs and stop pointless gambling). Another blow was dealt to the Chinese cryptocurrency community in January 2018, when mining operations were faced with serious restrictions, citing excessive electricity consumption.

Although there is no official explanation on the suppression of cryptocurrencies, capital control, illegal activities and protection of citizens from financial risk are some of the main reasons cited by experts. Indeed, Chinese regulators have implemented stricter controls such as limiting withdrawals from abroad and regulating foreign direct investment to limit capital outflows and secure domestic investment. The anonymity and ease of cross-border transactions have also made cryptocurrency a favorite means of money laundering and fraudulent activities.

Since 2011, China has played a key role in the meteoric rise and fall of Bitcoin. At its peak, China accounted for over 95% of global bitcoin trade and three-quarters of mining operations. With regulators entering control of trade and mining operations, China’s dominance has declined significantly in exchange for stability.

Given that countries like Korea and India followed this attempt, a shadow has now been cast on the future of cryptocurrency. (I will repeat my point here: countries regulate cryptocurrencies, not ban them). Without a doubt, we will see more nations join in the coming months to curb the turbulent crypto market. Indeed, some kind of order is long overdue. In the past year, cryptocurrencies have experienced unprecedented price volatility, and ICOs happen literally every other day. In 2017, total market capitalization rose from $ 18 billion in January to a record $ 828 billion in history.

Nevertheless, the Chinese community is in a surprisingly good mood despite the suffocation. Online and offline communities are booming (I’ve personally attended a lot of events and visited some of the companies), and blockchain startups are springing up all over China.

Major blockchain firms such as NEO, QTUM and WeChain are receiving huge attention in the country. Startups like Nebulas, High Performance Blockchain (HPB) and Bibox are also gaining quite a bit of power. Even giants like Alibaba and Tencent are also exploring blockchain opportunities to improve their platform. The list goes on and on, but you understand me; it will be HUGGEE!

The Chinese government is also embracing blockchain technology and has stepped up efforts in recent years to support the creation of blockchain ecosystems.

China’s 13th Five-Year Plan (2016-2020) calls for the development of promising technologies including blockchain and artificial intelligence. It also plans to strengthen research on the application of fintech in regulation, cloud computing and big data. Even the National Bank of China is also testing a prototype digital currency based on blockchain; however, given that it is likely to be a centralized digital currency with some encryption technology, it remains to be seen how it will be adopted by Chinese citizens.

The launch of the Trusted Blockchain Open Lab, as well as the China Forum on Blockchain Technology and Industry Development by the Ministry of Industry and Information Technology, are some of the other Chinese government initiatives to support blockchain development in China.

A recent report entitled “China Blockchain Development Report 2018” (English version on the link) by the China Blockchain Research Center described in detail the development of the blockchain industry in China in 2017, including various measures taken to regulate cryptocurrency on land. In a separate section, the report highlighted the optimistic outlook of the blockchain industry and the tremendous attention it received from the WC and the Chinese government in 2017.

In short, the Chinese government has shown a positive attitude towards blockchain technology despite its application to cryptocurrencies and mining operations. China wants to control cryptocurrencies, and China will gain control. The repeated measures of the regulator were aimed at protecting their citizens from the financial risk of cryptocurrencies and limiting the outflow of capital. From now on, it is legal for Chinese citizens to have cryptocurrencies, but they are not allowed to perform any form of transaction; hence the prohibition of exchange. As the market stabilizes in the coming months (or years), we will undoubtedly see a revival of the Chinese crypto market. Blockchain and cryptocurrency go hand in hand (with the exception of the private chain where the token is unnecessary). Countries therefore cannot ban cryptocurrencies without banning blockchain fantastic technology!

One thing we can all agree on is that the blockchain is still in its infancy. Many exciting events await us and right now is definitely the best time to lay the foundations for a world that supports blockchain.

Last but not least, HODL!

Over the past year, the cryptocurrency market has endured a series of heavy blows by the Chinese government. The market received blows like a warrior, but the combinations took a toll on many cryptocurrency investors. The weak performance of the market in 2018 is fading compared to its stellar thousand percent gain in 2017.

That what happened?

The Chinese government has taken measures to regulate cryptocurrency since 2013, but nothing compared to what was imposed in 2017 (See this article for a detailed analysis of the Chinese government’s official notification)

2017 was a full year for the cryptocurrency market with all the attention and growth it has achieved. Extreme price volatility has forced the Central Bank to adopt more extreme measures, including a ban on initial coin offerings (ICOs) and a crackdown on domestic cryptocurrency exchanges. Shortly afterwards, mining plants in China were forced to close, citing excessive electricity consumption. Many stock exchanges and factories have moved abroad to evade regulations, but have remained available to Chinese investors. Regardless, they still fail to escape the clutches of the Chinese dragon.

In the latest series of government efforts to monitor and ban cryptocurrency trading among Chinese investors, China has expanded its “Eagle Eye” to monitor foreign cryptocurrency exchanges. Companies and bank accounts suspected of conducting transactions with foreign cryptocurrencies and related activities are subject to measures ranging from withdrawal limits to account freezes. There are even rumors in the Chinese community about more extreme measures to be applied on foreign platforms that allow trade among Chinese investors.

“As for whether there will be further regulatory measures, we will have to wait for orders from higher bodies.” Excerpts from an interview with the team leader of the Chinese Public Information Network Security Supervision Agency at the Ministry of Public Security, February 28

WHY WHY WHY !?

Imagine your child investing their savings in a digital product (in this case, a cryptocurrency) for which there is no way to verify its authenticity and value. He or she may be lucky and enriched, or lose everything when the crypto-bubble bursts. Now spread that to millions of Chinese citizens and we are talking about billions of Chinese yuan.

The market is full of scams and pointless ICOs. (I’m sure you’ve heard news of people sending coins to random addresses with the promise of doubling their investments and ICOs that just don’t make sense). Many reckless investors are in it for the money and would worry less about the technology and innovation behind it. The value of many cryptocurrencies stems from market speculation. During the crypto boom in 2017, take part in any ICO with a well-known advisor, a promising team or a decent hype and you are guaranteed at least 3X of your investment.

The lack of understanding of the company and the technology behind it, combined with the proliferation of ICOs, is a recipe for disaster. Central Bank members report that almost 90% of ICOs are fraudulent or involve illegal fundraising. In my opinion, the Chinese government wants to ensure that the cryptocurrency remains ‘controlled’ and is not too big to fail within the Chinese community. China is taking the right steps toward a safer, more orderly world of cryptocurrencies, albeit aggressive and controversial. In fact, it could be the best move the country has taken in decades.

Will China set an ultimatum and make cryptocurrency illegal? I doubt it because it’s pretty pointless to do. Currently, financial institutions are prohibited from holding any crypto assets, while individuals are allowed, but they are prohibited from conducting any forms of trading.

State cryptocurrency exchange?

At the annual “Two Sessions” named after the two main parties – the National People’s Congress (NPC) and the National Committee of the Chinese People’s Political Consultative Conference (CPCC) – participate in a forum held in the first week of March, leaders gather to discuss the latest issues. and made the necessary changes to the law.

Wang Pengjie, a member of the NPCC, dealt with the perspective of the state platform for digital asset trading, as well as initiated educational projects on blockchain and cryptocurrency in China. However, the proposed platform would require an authenticated account to allow trading.

With the establishment of related regulations and cooperation between the National Bank of China (PBoC) and the China Securities Regulatory Commission (CSRC), an organized and efficient cryptocurrency exchange platform would serve as a formal way for companies to raise funds (through ICOs) and investors to maintain their digital assets and achieve capital appreciation “Performs Wang Pengjie presentations in two sessions.

March towards the Blockchain nation

Governments and central banks around the world have struggled to combat the growing popularity of cryptocurrencies; but one thing is for sure, everyone has accepted the blockchain.

Despite the suppression of cryptocurrencies, blockchain is becoming increasingly popular and accepted at various levels. The Chinese government supports blockchain initiatives and embraces the technology. In fact, the People’s Bank of China (PBoC) is working on digital currency and conducting fraudulent transactions with some of the country’s commercial banks. It has not yet been confirmed whether the digital currency will be decentralized and offer cryptocurrency features such as anonymity and immutability. It would not be a surprise if it turns out to be just a digital Chinese yuan given that anonymity is the last thing China wants in its country. However, created as a close replacement for the Chinese yuan, the digital currency will be subject to existing monetary policies and laws.

Governor of the National Bank of China, Zhou Xiaochuan. Source: CNBC

“Many cryptocurrencies have experienced explosive growth that can have a significant negative impact on consumers and retail investors. We do not like products (cryptocurrencies) that use a huge opportunity for speculation that gives people the illusion of getting rich overnight” Excerpts from Zhou Xiaochuan interview on Friday, 9 March.

In a media appearance on Friday, March 9, the governor of the National Bank of China, Zhou Xiaochuan, criticized cryptocurrency projects that used the crypto-boom to monetize and encourage market speculation. He also noted that the development of digital currency is ‘technologically inevitable’

At the regional level, many Chinese cities are launching blockchain initiatives to promote growth in their region. Hangzhou, known for being Alibaba’s headquarters, cited blockchain technology as one of the city’s top priorities in 2018. The Chengdu city government has also been proposed to build an incubation center to encourage the adoption of blockchain technology in the city’s financial services.

Local conglomerates such as Tencent and Alibaba have also established partnerships with blockchain firms or launched projects themselves. Blockchain firms such as VeChain have also secured multiple partnerships with Chinese firms to improve supply chain transparency in China.

All clues point to the fact that China is working on a blockchain nation. China has always had an open mentality towards new technologies such as mobile payments and artificial intelligence. From now on, without a doubt, China will be the first country with a blockchain enabled. Will we see the Chinese government withdraw and let its citizens trade again? Probably when the market matures and becomes less volatile, but definitely not in 2018.

Bitcoin is the world’s leading cryptocurrency. It is a peer-to-peer currency and a system of transactions based on a decentralized consensus-based public ledger called a blockchain that records all transactions.

Now, bitcoin was conceived by Satoshi Nakamoto in 2008, but it was the product of decades of research into cryptography and blockchain, not just the work of one man. It was the utopian dream of cryptographers and free trade advocates to have a decentralized, borderless currency based on blockchain. Their dream is now a reality with the growing popularity of bitcoin and other altcoins around the world.

Now, the cryptocurrency was distributed for the first time via a blockchain based on consensus in 2009, and it was traded for the first time in the same year. In July 2010, the price of bitcoin was only 8 cents, and the number of miners and knots was much smaller compared to tens of thousands at the moment.

Within a year, the new alternative currency had grown to $ 1 and was becoming an interesting prospect for the future. Mining was relatively easy and people made good money by earning trade, and even paid with it in some cases.

Within six months, the currency doubled to $ 2 again. Although the price of bitcoin is not stable at a certain price, it has been showing this pattern of crazy growth for some time. At one point in July 2011, the coin went crazy and reached a record high price of $ 31, but the market soon realized that it was overvalued in relation to the gains made on the field and returned it to $ 2.

There was a healthy increase to $ 13 in December 2012, but the price will soon explode. Within four months of April 2013, the price had risen to a whopping $ 266. It later straightened back to $ 100, but this astronomical price increase became famous for the first time and people started discussing the real-world scenario with Bitcoin.

Around that time, I was introduced to the new currency. I doubted it, but the more I read about it, the clearer it became that the currency was the future because there was no one to manipulate it or impose itself on it. Everything had to be done by complete consensus and that is what made him so strong and free.

Thus, 2013 was a turning point for the currency. Large companies have begun to publicly favor the acceptance of bitcoin, and blockchain has become a popular topic for computer science programs. Many people at the time thought that bitcoin had fulfilled its purpose and would now calm down.

But the currency became even more popular, with bitcoin ATMs being set up around the world, and other competitors began to flex their muscles in different corners of the market. Ethereum developed the first programmable blockchain, and Litecoin and Ripple began as cheaper and faster alternatives to bitcoin.

The magic figure of $ 1,000 was first broken in January 2017 and has quadrupled since September. It’s a truly remarkable achievement for a coin that was only worth 8 cents just seven years ago.

Bitcoin even survived hard fork on August 1, 2017 and has grown by almost 70% since then, while even fork bitcoin cash has managed to achieve some success. It’s all because of the appeal of coins and the stellar blockchain technology behind it.

While conventional economists claim it is a bubble and that the entire crypto world would collapse, it simply isn’t. There is no such bubble because the visible fact is that he, in fact, ate the shares of fiat currency and corporations for money transactions.

The future is extremely bright for bitcoin and it is never too late to invest in it, both in the short and long term.

One of the basic rules of blockchain technology is to provide users with unwavering privacy. Bitcoin, as the first ever decentralized cryptocurrency, relied on this premise to be marketed to a wider audience that then needed a virtual currency free from government interference.

Unfortunately, along the way, Bitcoin has been shown to have several weaknesses including incompatibility and a variable blockchain. All transactions and addresses are entered on the blockchain, which makes it easier for everyone to connect points and reveal private user data based on their existing records. Some governmental and non-governmental agencies already use blockchain analytics to read data on the Bitcoin platform.

Such shortcomings have led developers to look for alternative blockchain technologies with improved security and speed. One of these projects is Monero, usually represented by an XMR ticker.

What is Monero?

Monero is a privacy-oriented cryptocurrency project whose main goal is to provide better privacy than other blockchain ecosystems. This technology protects user information through hidden addresses and Ring signatures.

Stealth address refers to the creation of a single address for a solo transaction. Two addresses cannot be pinned for one transaction. The received coins go to a completely different address, making the whole process unclear to an outside observer.

A ring signature, on the other hand, refers to mixing account keys with public keys thus creating a “ring” of multiple signatories. This means that the tracking agent cannot associate a signature with a specific order. Unlike cryptography (mathematical methods of securing crypto projects), a ring signature is not new in the block. Its principles have been explored and recorded in a 2001 paper by the Weizmann Institute and MIT.

Cryptography has certainly won the hearts of many developers and blockchain enthusiasts, but the truth is that it is still an emerging tool with several uses. Since Monero uses the already tested Ring signature technology, it stood out as a legitimate project worth adopting.

Things you need to know before you start trading Monera

Monero’s Market

The Monero market is similar to the market for other cryptocurrencies. If you want to buy it, Kraken, Poloniex and Bitfinex are some of the exchanges to visit. Poloniex was the first to adopt it, then Bitfinex and finally Kraken.

This virtual currency seems mostly pegged to the dollar or to other cryptocurrencies. Some of the available pairs include XMR / USD, XMR / BTC, XMR / EUR, XMR / XBT and more. The volume of trade and liquidity of this currency record very good statistics.

One of the good things about XMR is that anyone can participate in mining, either as an individual or by joining a mining pool. Any computer with significantly good processing power can mine Monero blocks with a few hiccups. Don’t bother going to ASICS (application-specific integrated circuits) that are currently required for Bitcoin mining.

Price volatility

Despite the fact that it is a frightening network of cryptocurrencies, it is not so special when it comes to volatility. Almost all altcoins are extremely volatile. This should not worry any passionate trader because this factor is what makes them profitable in the first place – you buy when prices are falling and sell when they are on an upward trend.

In January 2015, XMR went for $ 0.25, then ran up to $ 60 in May 2017 and is currently a ball above the $ 300 limit. On January 7, the Monero coin recorded its ATH (most of all time) of $ 475 before falling along with other cryptocurrencies to $ 300. At the time of writing, virtually all decentralized currencies are in the price correction phase, and Bitcoin fluctuates between $ 10-11 thousand compared to the magnificent $ 19,000 ATH.

Interchangeability and adoption

Thanks to its ability to offer reliable privacy, XMR has been adopted by many people who have easily exchanged their coins for other currencies. Simply put, Monero can easily be mistaken for something else.

All Bitcoins in the Bitcoin Blockchain are recorded, and therefore, when an incident like theft occurs, every coin involved will be avoided from work, making it irreplaceable. You can’t tell one coin from another. Therefore, no vendor can refuse any of them because it is related to a bad incident.

The Monero blockchain is currently one of the most popular cryptocurrencies with a significant number of followers. Like most other blockchain projects, his future looks great despite looming government coups. As an investor, you need to do your due diligence and research before trading any cryptocurrency. Where possible, seek help from financial experts to get you on the right track.

Cryptocurrency exchange or digital currency exchange is a business that involves exchanging cryptocurrency with other assets such as money or any other digital currency. It is a web service that provides electronic transactions in electronic forms and takes fees for them.

All transactions or operations on the digital exchange can be performed via debit and credit cards, postal money orders or any other type of money transfer. This article discusses the various cryptocurrency exchanges that facilitate cryptocurrency trading for beginners and what they offer in terms of availability, ease of use, security, deposit / withdrawal methods and fees. We hope this cryptocurrency trading guide can help you get started with cryptocurrency exchanges.

Coinbase / GDAX

Coinbase is one of the largest cryptocurrency exchanges based in San Francisco, California. It is available in 32 countries and currently serves over 10 million customers. Launched in 2012, it has an easy-to-use interface that makes digital currency exchange an easy task for the non-technical person. It is also available for iOS and Android. Unfortunately, Coinbase does not offer cryptocurrency mining for beginners and is just an exchange.

For now, it offers four coins, Bitcoin, Bitcoin Cash, Ethereum and Litecoin. It exchanges digital currency with US dollars, euros and British pounds. With minimal transfer fees, Coinbase has never experienced any security breaches making it the perfect platform for exchanging digital currencies. In addition, Coinbase offers a fully developed advanced exchange called GDAX. It offers more advanced features and different and better trading fees than Coinbase.

Bitstamp

Bitstamp is another platform that provides digital currency exchange. It is relatively easy to use and offers more advanced features via TradeView. Bitstamp offers coins such as Bitcoin, Litecoin, Ethereum, Bitcoin Cash and ripple. It exchanges digital currency with US dollars and euros. In this stock exchange you can apply all the latest cryptocurrency trading techniques.

It offers flat-rate deposits via bank transfers and supports debit / credit cards. Perhaps the only drawback that can be found in Bitstamp are the slightly high fees and the fact that it has suffered one security breach in 7 years of operation. Still, it is one of the most reliable exchanges. It is available for both iOS and android.

Twins

Gemini is a UK-based company started in 2015 by the Winklevoss twins. It is available in several countries including the United States, Canada, Hong Kong, Singapore and South Korea. One of the disadvantages of this platform is that it is not particularly user-friendly. Therefore, beginners are not recommended to use this platform.

It offers two coins and 1 FLAT currency Bitcoin Cash, Echtereum and US Dollar. Gemini follows strict protocols when it comes to security and since 2018 has not encountered a single security breach, making it one of the most secure and reliable platforms for digital currency. However, it is important to have digital currency investment strategies before you start trading.

Digital Ticks

Digital Ticks is a modern crypto exchange that aims to change the game in this sector. They have implemented many of the latest techniques that make it easier for anyone to start trading.

It has a unique feature called Single Portfolio View that would allow traders to see all positions in one portfolio. It would be easy for merchants to make informed decisions about cryptocurrency exchange using this unique feature. It also supports Bitcoin, Ethereum, Litecoin and Dashcoin.

Kraken

Kraken is one of the oldest platforms for cryptocurrency exchange. Launched in 2011, Kraken is the largest stock exchange in terms of volume and liquidity for trading pairs in EUR. Serves worldwide including the United States.

Kraken offers a variety of coins including Bitcoin Cash, Ethereum, Monero, Augur, Litecoin and many more. It also supports deposit / withdrawal via bank transfers and cryptocurrencies. Having a not so friendly user interface, it also suffers from stability and performance issues, but is still a good platform for cryptocurrency exchange.

Bitfinex

Bitfinex is the largest cryptocurrency exchange platform. Launched in 2012, it has an easy-to-use interface and offers an advanced number of features such as margin trading, margin financing, etc. It is available for both iOS and Android platforms. It offers BTC, BCH, ETH, LTC, IOTA, XMR and NEO.

Like previous cryptocurrency exchanges, it supports payments in US dollars and euros through bank transfers. Bitfinex suffered two security breaches, the first being in May 2015, resulting in a loss of $ 330,000. And the second in August 2016, which resulted in a loss of 72 million dollars.

EtherDelta

EtherDelta is a decentralized exchange that directly supports peer to peer connection. It is very different from the cryptocurrency exchange platform we talked about earlier. Here the funds are kept in a smart contract on the Ethereum network for which you are solely responsible for the deposit and withdrawal. Currently, EtherDelta only supports Echtereum tokens.

EtherDelta has a rather confusing interface that makes it difficult for users to perform cryptocurrency exchange operations. On one occasion, someone tried to buy 750 Kyber for 0.007 ETH each, but eventually bought 0.007 KNC for 750 ETH.

Conclusion

After looking at different cryptocurrency exchange platforms, we can say with certainty that Coinbase and Bitstamp stand out for their good features such as security, user interface, multiple withdrawal / transfer methods and more.

I wouldn’t call them perfect, but I would recommend that it’s the safest bet you can make. Each cryptocurrency exchange platform is unique in its own way and has advantages and disadvantages. All we have to do is choose the one that suits our needs. We hope that this guide to basic cryptocurrency exchange and trading will give you an edge on your cryptocurrency trading journey.