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How does the cryptocurrency work?

Simply put, cryptocurrency is digital money, which has been designed in a safe and anonymous way in some cases. It is closely related to the Internet that uses encryption, and it is basically a process in which readable information is converted into impenetrable code so as to process all the transfers and purchases made.

The history of encryption dates back to World War II, when there was a need to communicate in the most secure way. Since that time, it has evolved itself and is digital today as various elements of computer science and mathematical theory are used for the purposes of securing communications, money and information online.
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The first cryptocurrency

The first cryptocurrency was introduced in 2009 and is still known worldwide. Several cryptocurrencies have been introduced since then over the past few years, and today you can find many of them available online.

How do they work?

This type of digital currency takes advantage of decentralized technology to allow various users to make secure payments and also to store funds without necessarily having to use a name or even go through a financial institution. It runs primarily on the blockchain. The blockchain is the general ledger that is generally distributed.

Cryptocurrency units are usually created using a process referred to as mining. This usually involves using the power of a computer. Doing so this way solves math problems that can be very complex in generating coins. Users are only allowed to buy coins from brokers and then store them in crypto wallets where they can spend it very easily.

Cryptocurrencies and the application of blockchain technology are still in their infancy when thinking about it in financial terms. More uses may appear in the future as there is no determination of what will be invented. The future of dealing in stocks, bonds, and other types of financial assets can be traded very well using cryptocurrency and blockchain technology in the future.

Why use cryptocurrency?

One of the main features of these coins is the fact that they are safe and that they provide a level of anonymity that you may not get anywhere else. There is no way that a transaction can be undone or forged. This is by far the biggest reason why you should consider using them.

The fees charged for this type of currency are also very low which makes it a very reliable option when compared to a traditional currency. Since they are decentralized in nature, they can be accessed by anyone other than banks as accounts are only opened by permission.
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Cryptocurrency markets offer a whole new monetary paradigm and sometimes the rewards can be great. You might make a very small investment only to find that it has spread to something great in a very short period of time. However, it is still important to note that the market can be volatile as well, and there are risks associated with buying.

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5 benefits of trading cryptocurrencies

When it comes to trading cryptocurrencies, you have to speculate on whether the market you chose will rise or fall in value. The interesting thing is that you do not own the digital asset. In fact, it is traded using derivatives such as CFDs. Let’s take a look at the benefits of trading cryptocurrencies. Read on to find out more.
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Volatility

While the cryptocurrency is a new market, it is very volatile due to the short-term speculative interest. Bitcoin has dropped to $ 5,851 from $ 19,378 in 2018, in just one year. However, the value of other digital currencies is quite stable, which is good news.
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What makes this world so exciting is the volatility of the cryptocurrency’s value. Price action provides a lot of opportunity for traders. However, this comes with a lot of risks as well. Therefore, if you decide to explore the market, just be sure to do your research and devise a risk management strategy.
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work hours

Usually the market is open to trading 24/7 as it is not regulated by any government. Moreover, transactions take place between buyers and sellers all over the world. There may be short downtime when infrastructure updates are performed.
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Improved fluidity

Liquidity refers to how quickly a digital currency can be sold for cash. This feature is important because it enables faster transaction times, better accuracy, and better rates. In general, the market is somewhat illiquid as financial transactions take place across various exchanges. Therefore, small trades can bring about significant price changes.
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Enhanced exposure

Since CFD trading is considered a leveraged product, you can open a position on what we call “margin”. In this case, the deposit value is a small fraction of the trade value. Therefore, you can enjoy large market exposure without investing a lot of money.
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The loss or gain will reflect the value of the position at the time it is closed. Therefore, if you are trading on margin, you can make huge profits by investing a small amount of money. However, it also magnifies losses that may exceed your trade deposit. Therefore, be sure to consider the total value of the position before investing in a CFD.
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Also, it is important to ensure that you are following a robust risk management strategy, which must include appropriate limits and stops.
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Quick account opening

If you want to buy cryptocurrencies, be sure to do so with an exchange. All you have to do is register for an exchange account and keep the currency in your wallet. Keep in mind that this process can be restrictive and take a significant amount of time and effort. However, once the account is created, the rest of the process will be smooth and hassle-free.
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In short, these are some of the most prominent benefits of trading cryptocurrencies right now. We hope you find this article very helpful.

Bitcoin Buying Guide – An easy 3-step guide to buying your first Bitcoin

Are you looking for a Bitcoin buying guide? Wondering where to start? People have a lot of misconceptions about Bitcoin – the first known and widely accepted digital currency around the world.

For example, many people think that only hackers and suspicious people are using them. However, Bitcoin is actually becoming prevalent with everyone from TigerDirect to clients to Dell to even Subway accepting payments in Bitcoin now.

Why is it so popular?

Well, Bitcoin has a lot of benefits compared to other currencies. For example, you can send Bitcoins to someone as a payment without having to go through a bank broker (and get additional fees). It’s also much faster than sending money via bank transfer or transfer. You can send bitcoins to someone and receive them in seconds.

With all this, it is not surprising that many people are now trying to buy Bitcoin for the first time. However, it’s not as easy as going to your bank and withdrawing bitcoins – or going to the store and extracting some hard-earned cash for bitcoin.

The system works a little differently than this. This Bitcoin Buying Guide will go over a few things you need to know before purchasing – so you can buy safely and securely.

First of all, while the price may be in excess of $ 2,000 per coin, you do not have to buy a whole Bitcoin. Most places will allow you to buy bitcoins for as little as $ 20. So you can start small and go from there where you feel most comfortable with the way things work.

Second, this article is for general purpose only and should not be considered financial advice. Bitcoin can be risky, and before making any purchase, you should consult with your financial advisor to see if this is right for you.

So here are 3 easy steps to buy bitcoins:

# 1 Get a Bitcoin wallet

The first thing that you must do before purchasing your coins is to have a virtual wallet to store your coins. This wallet is a text string that people can use to send you bitcoins.

There are a number of different types of wallets, including the ones you download to your phone or computer, online wallets and even offline cold storage wallets.

Most people prefer to have a wallet on their phone or computer. Popular wallets include Blockchain, Armory, Bitgo MyCelium, and Xapo.

Usually, it’s as simple as downloading the wallet to your phone as an app or downloading the software to your computer from the wallet’s main website.

# 2 Decide where to buy

There are several types of places you can buy and each varies slightly. There are online sellers who directly sell you Bitcoin for cash (or wire transfer or credit card).

There are exchanges where you can buy and sell bitcoins from others – similar to the stock market. There are also local exchanges that connect you with sellers in your area looking to sell.

There are also ATMs where you can buy with cash and have your coins in your wallet in minutes.

Every Bitcoin seller has its own benefits and drawbacks. For example, ATMs are great for privacy, but they will charge you up to 20% on top of the current rate, which is ridiculous. (At $ 2,000 BTC, that’s $ 400! So you’re paying $ 2,400 instead of $ 2,000).

No matter where you decide to buy from, remember to do your research and go with a trusted seller with a good reputation and solid customer service. First-time buyers will have special questions and may require additional support to assist them with their first transaction.

Take your time and research the different places to buy before you decide. Factors to consider include coin rates, surcharges, payment method, and customer service.

# 3 Buy Bitcoin and transfer it to your wallet

Once you find a place to buy, get your money ready (for example, you can send an electronic transfer or use Visa to fund your account). Then wait for a good price. (Bitcoin prices always fluctuate 24 hours, 7 days a week.) Then place your order when you are ready.

Once you fulfill your order and get your coins, you’ll want to send them to your wallet. Simply enter your bitcoin address and ask the seller to send you your bitcoins. You should see it appear in your wallet in minutes to an hour (depending on how quickly the seller sends it).

Voila, you are now the owner of Bitcoin. You can now send in coins to pay for other goods and services, or stick to them on a rainy day.

The last thing to remember: Bitcoin is still in its infancy. There are large fluctuations in prices and the currency can be quite risky. Never buy more Bitcoins than you can afford to lose.

Coinbase: Bitcoin startup is spreading to capture more market

Bitcoin rose dramatically in 2017. Coinbase, one of the world’s largest cryptocurrency exchanges, was in the right place at the right time to take advantage of the interest hike. However, Coinbase is not interested in taking its cryptocurrency earnings for granted. To stay ahead in a much larger cryptocurrency market, the company is returning money to its master plan. As of 2017, the company’s revenue was reported at $ 1 billion and more than $ 150 billion in assets were traded across 20 million customers.

Coinbase, a San Francisco-based company, is known as the leading cryptocurrency trading platform in the United States, and with its continued success, it ranked 10th on the CNBC Disruptor list in 2018 after failing to make the list in the past two years. .

On their road to success, Coinbase spared no effort in poaching key CEOs from the New York Stock Exchange, Twitter, Facebook, and LinkedIn. In the current year, the size of its full-time engineering team has nearly doubled.

Coinbase bought Earn.com in April for $ 100 million. This platform allows users to send and receive digital currencies while responding to mass market emails and completing small tasks. Currently, the company plans to bring in Andreasen Horowitz, a former venture capitalist, founder and CEO of Earns, to be its first-ever technical director.

According to the current valuation, Coinbase itself estimated at $ 8 billion when it started buying Earn.Com. This value is much higher than the $ 1.6 billion valuation that was estimated in the last round of venture capital financing in the summer of 2017.

Coinbase declines to comment on its valuation despite the fact that it has more than $ 225 million in financing from major investors including Union Square Ventures, Andreessen Horowitz, and also from the New York Stock Exchange.

To meet the needs of institutional investors, the New York Stock Exchange plans to start its own digital currency exchange. The New York Stock Exchange rival Nasdaq is also considering taking a similar step.

• Competition is coming

As rival organizations look to capitalize on the Coinbase business, Coinbase is looking for other opportunities for venture capital in an effort to build a moat around the company.

Dan Dolph, a spot analyst at Nomura, said Square Inc., a company run by Twitter CEO Jack Dorsey, could be thriving on Coinbase’s exchange business because it began trading cryptocurrency on the Square Cash app in January.

According to Dolev’s estimates, the average Coinbase trading fee was around 1.8 percent in 2017. These higher fees could drive users to other cheaper exchanges.

Coinbase is looking to become a one-stop shop for institutional investors while hedging their stock exchange business. To attract the white glove investor category, the company announced a fleet of new products. This class of investors has been particularly wary of plunging into the volatile cryptocurrency market.

Coinbase Prime, Coinbase Institutional Coverage Group, Coinbase Custody and Coinbase Markets are the products launched by the company.

Coinbase feels there are billions of dollars in institutional money that could be invested in digital currency. It already has custody of $ 9 billion in client assets.

Institutional investors are concerned about security despite knowing that Coinbase has never been hacked like some other global cryptocurrency exchanges. Coinbase’s president and chief operating officer said the drive behind the Coinbase service launch last November was the lack of a trusted trustee to protect their crypto assets.

• Wall Street is currently switching from Bashing Bit to Cryptocurrency Backer

According to the latest available data from Autonomous Next Wall Street, interest in cryptocurrencies appears to be growing. At present, there are 287 cryptocurrency hedge funds, while in 2016, there were only 20 cryptocurrency hedge funds. Goldman Sachs has even opened a cryptocurrency trading desk.

Coinbase also introduced Coinbase Ventures, an incubator fund for early stage startups working in the cryptocurrency and blockchain industries. Coinbase Ventures has already raised $ 15 billion for more investments. Its first investment was announced in a startup called Compound that allows a person to borrow or lend a cryptocurrency while earning an interest rate.

At the beginning of 2018, the company launched Coinbase Commerce, which allows merchants to accept major cryptocurrencies for payment. Another Bitcoin company is BitPlay, which recently raised $ 40 million in project money. Last year, BitPlay processed more than $ 1 billion in bitcoin payments.

Proponents of blockchain technology believe that in the future, cryptocurrency will be able to eliminate the need for central banking authorities. In this process, you will cut costs and create a decentralized financial solution.

• Organizational security remains intense

To keep access limited by four cryptocurrencies, Coinbase drew a lot of criticism. But they have to tread carefully as US regulators debate how to monitor specific uses of the technology.

For cryptocurrency exchanges like Coinbase, the concern is whether the cryptocurrencies are securities that come under the jurisdiction of the SEC. Admittedly, Coinbase is slow to add new currencies because the Securities and Exchange Commission announced in March that it would apply security laws to all cryptocurrency exchanges.

The Wall Street Journal reports that Coinbase has met with SEC officials to register itself as a licensed brokerage and electronic trading place. In such a scenario, it would be easier for Coinbase to support more coins and also comply with security regulations.

How does cryptocurrency gain value?

Cryptocurrencies are the latest “thing of interest” in the digital world and have now been recognized as part of the monetary system. In fact, enthusiasts have described it as a “money revolution”.

In clear terms, cryptocurrencies are decentralized digital assets that can be exchanged between users without the need for a central authority, and most of them are created through special computational techniques referred to as “mining”.

Accepting currencies, such as the US dollar, the British pound and the euro, as legal tender because they have been issued by a central bank; However, digital currencies, such as cryptocurrencies, do not depend on the trust and confidence of the public in the issuer. As such, several factors determine its value.

Factors that determine the value of cryptocurrencies

Principles of a free market economy (mainly supply and demand)

Supply and demand are a major determinant of the value of anything of value, including cryptocurrencies. This is because if more people were willing to buy a cryptocurrency, and others were willing to sell, then the price of that cryptocurrency would rise, and vice versa.

Group adoption

The mass adoption of any cryptocurrency could set its price on the moon. This is because there is a certain limit for many cryptocurrencies at a certain limit, and according to economic principles, an increase in demand without a corresponding increase in supply will lead to an increase in the prices of that particular commodity.

Many cryptocurrencies have invested more resources to ensure their widespread adoption, with some focusing on the applicability of their cryptocurrency to pressing personal life issues, as well as critical everyday situations, with the aim of making it indispensable in everyday life.

Fiat Inflation

In the event that a fiat currency, such as the US dollar or the British pound, is inflated, its price rises and its purchasing power decreases. This will then increase cryptocurrencies (let’s use Bitcoin as an example) in regards to this. The result is that you will be able to get more of that cash with every Bitcoin. In fact, this situation was one of the main reasons for the bitcoin price increase.

History of fraud and cyber attacks

Fraud and hacking are two of the primary factors affecting the value of cryptocurrencies, as they are known to cause large fluctuations in valuations. In some cases, the team that supports the cryptocurrency may be the scammers; They will pump the price of the cryptocurrency to attract unsuspecting individuals and when their hard-earned money is invested, the price is shortened by the scammers, who then disappear without a trace.

So it is imperative to be wary of cryptocurrency scams before investing your money.

Some other factors to consider that have an impact on the value of cryptocurrencies include the following:

  • The way the cryptocurrency is stored, as well as its usefulness, security, ease of acquisition and acceptance across borders

  • The strength of the community that supports the cryptocurrency (this includes funding, innovation, and the loyalty of its members)

  • Reduced risk associated with the cryptocurrency as seen by investors and users

  • News feelings

  • Market liquidity and cryptocurrency volatility

  • State regulations (this includes prohibiting cryptocurrency and ICO in China and accepting it as legal tender in Japan)

5 tips to consider before investing in cryptocurrencies

Would you like to invest your hard-earned money in cryptocurrency? If so, make sure you know you meet the criteria before making the final decision. Without thinking about the important factors, you may risk losing your money. There are a lot of cryptocurrencies, such as Blockchain or Bitcoin. In this guide, we’ll walk you through some tips you can follow before depositing your money. Read on to find out more.

1. Don’t invest too much

First of all, don’t invest an amount that you cannot afford to lose on the road. In other words, it should be an amount of money that you do not need to meet your routine needs. If you lose your investment, your life will not be affected. It is not a good idea to take out a consumer loan in order to invest in cryptocurrencies.

2. Study the topic first

Before making an investment, be sure to study the topic first. After all, it is not wise to invest in something you have no idea about. For example, would you buy a home without looking at it from all sides? Nobody will do that.

However, this does not mean that you have to become an expert before making this investment. What you need to do is understand the general terminology related to the industry.

3. Diversify your investments

Another thing is to focus on diversification. In fact, this concept is important regardless of the type of field in which you want to do business.

In other words, you may not want to put all of your money into just one business. For example, if you have 10 eggs, you may not want to put them all in one basket. Use 2 baskets instead. This way even if you drop one basket and break all of the eggs, you will still have half of the eggs in the second basket.

So, what you need to do is invest your money in various businesses, such as real estate and cryptocurrencies.

4. Transfers between exchange

Make sure to use a good cryptocurrency platform. With the help of this platform, you can buy any of the popular cryptocurrencies like ETH and BTC. If you want to buy a different currency, you need to convert your currency to an interchange. On these exchanges, you can exchange your currency pair without any problem.

5. Do your own research

As mentioned earlier, you may want to do your research before taking any step. Investing on the advice of a friend or relative is not a good idea. You can use various means to do your homework, such as Google, Skype, Discord, Telegram, Twitter, discussion forums, and white paper, to name a few. It is important to take your time before putting money into the project.

So, be sure to follow these tips before investing your money in the world of cryptocurrencies. This way you can avoid common mistakes that most investors make. Hope this helps.

Bitcoin Cryptocurrency – Understand the Basics

It has been more than a decade since cryptocurrencies began to capture people’s attention via social media and especially online. Bitcoin has managed to rank it among the best cryptocurrencies today, and nobody knows the exact origin of the coin, however it appeared in mid-2008 in connection with the Japanese nickname “Satoshi Nakamoto”.

So, what exactly is this Bitcoin currency and why has it managed to maintain its position in the financial markets. Well, the following listed reasons might give you an idea of ​​its popularity and evidence of its continued safe existence in the future.

  • Bitcoin was the first decentralized digital currency.

  • Bitcoin is an independent, free-floating currency that is not owned by any government and is not linked to any other currency to be affected in terms of value by economic indicators that govern the value of traditional currencies.

  • With its growing popularity among the masses, it now enjoys an increasing level of acceptance across the board, for example, you can now buy things with Bitcoin cryptocurrency directly and also trade them on various platforms such as CoinBase, Bitfinex, Bitstamp, Kraken and more.

  • All you need is a wallet and an internet connection to make a peer-to-peer Bitcoin transfer.

  • In most cases, the transfers are immediate.

  • The convenience of making transactions via the Internet or your mobile phone with a few clicks.

  • Your privacy is safe compared to other online payment methods where your vital information can be leaked and misused.

  • While transferring money through traditional methods, you have to pay fees depending on the volume of your transactions and more than that, these transfers are subject to regional and state regulations. While dealing in cryptocurrency Bitcoin does not require you to comply with any government regulations, moreover, you do not incur heavy transaction fees.

  • Since you are the only person who has access to your e-wallet, your coins are always safe with you and no one can steal your money. The process and transactions are transparent due to the shared general ledger and anyone can verify the transaction at any time from anywhere around the world using the internet.

  • Another advantage of having a Bitcoin cryptocurrency wallet is that your account cannot be frozen.

Given the growing popularity and acceptance of cryptocurrency Bitcoin, we can safely assume that the future of Bitcoin is not only secure, but very bright and that this innovative payment method is here to stay.

Overview of an Initial Coin Offering (ICO)

ICO is a way to raise funds by unregulated means for various cryptocurrency projects. It is something startups use to bypass the regulated and rigorous capital raising process required by banks and venture capitalists. In such a campaign, a certain percentage of the cryptocurrency is sold to the backers of the project too early in exchange for other cryptocurrencies or legal tender.

How is this done

When a company wants to raise funds with an ICO, there must be a plan on a white paper that details the project. You must define what the project is, what the project needs, and what it aims to accomplish. It should also specify the funds that will be required to undertake the entire project and how much the pioneers will retain.

The plan should also state what type of currency is acceptable and how long you intend to run the campaign. During such a campaign, the initiative’s supporters and enthusiasts will buy cryptocurrencies using virtual currency or fiat currencies. The coins are called tokens and they are very similar to the shares of a company that are sold to investors during IPOs. If the required minimum funds are not reached, then a refund will be made, at which time the entire ICO will be deemed unsuccessful. When requirements are met within a specified time frame, the cash can be used to start or even complete the scheme if it is still in progress.

Investors who participate in the project early are mainly incentivized to purchase digital currencies in the hope that the plan will succeed and after its launch they will get more value from it. There have been very successful projects of this type in different economies and this is the main thing that motivates investors.

Similarity

The ICO can be compared to crowdfunding and IPOs. Just like initial public offerings, the stake has to be sold by a startup in order to obtain funds that will aid the operations of such a company. The only difference is the fact that IPOs engage with investors while ICOs work closely with supporters who are very keen on new projects just like the crowdfunding event.

However, ICO differs from crowdfunding in the sense that ICO supporters are usually motivated by the fact that they may receive a large return on investment. Funds raised through crowdfunding are mainly donations. It is for this reason that ICOS is referred to as audience sales.

There have been many successful transactions to date. ICOs are an innovative tool in our digital age. However, it is important for investors to take caution as there are some campaigns that can turn out to be scam. This is due to the fact that it is largely disorganized. Financial authorities are not involved in this, and if you lose money through such initiatives, it is difficult to pursue them for compensation.

For this purpose, there are some areas that do not allow the use of an ICO at all. It is important to purchase this coin from trusted sources only so that it is safe.

The best bitcoin trading platforms

Cryptocurrency not only provided the fastest way to transfer money, but it also gave a new entity to trade and make money away from stocks and other commodities. While you can buy and sell Bitcoin directly, you can also use Bitcoin trading exchanges to continue your cryptocurrency trades. There are a lot of exchanges where trading Bitcoin is safe and secure, and clients are facilitated by many extended services. As an investor or trader in cryptocurrencies, you can choose any of the exchanges for your convenience. However, it is recommended that you peek at some of the reviews before canceling the subscription. Here is a brief review of the most important bitcoin exchanges around the world.

CoinBase: It is possibly one of the most popular and largest bitcoin exchange with the possibility of dual trading directly and through the wallet. CoinBase was founded in 2012 by researching the Y-Combinator project and has since grown rapidly. It has many lucrative services like multiple cash deposit and withdrawal options, instant money transfers between two CoinBase, wallet facilities with multiple signature options for more secure transfers, Bitcoin deposits insured against any loss etc. CoinBase has a wide range of payment partners Europe and the United States, which allow for seamless transaction execution through them. It has relatively low transaction fees and offers Bitcoin trading along with a large number of Altcoin trading as well.

CEX.IO: One of the oldest and reputable exchanges started in 2013, London as Bitcoin Trading Exchange and also as a cloud mining facilitator. Later its mining power grew so much that it took up nearly half of the network’s mining capabilities; However, it is now closed. CEX.IO allows clients to expand into a much larger amount of Bitcoin transactions, and has the ability to make Bitcoin available at the requested price instantly. However, for this exchange, it charges a somewhat high exchange amount, yet this is compensated for by the security and facilities that allow multi-currency transactions (dollars, euros, and rubles) to buy bitcoin.

Bitfinex is one of the most advanced trading platforms and is especially suitable for experienced cryptocurrency traders. With the high liquidity of Ethereum as well as Bitcoin, this exchange has better options such as leverage, margin funding, and multiple order trading. Apart from this, Bitfinex offers customizable GUI features, and many types of orders, such as limit, stop, trailing stop, market etc. This exchange also provides about 50 currency pairs that can be easily traded and withdrawn for everyone. One of the largest exchanges in terms of volume on Bitfinex offers pseudonyms for trades and only for some services that require identification. The only drawback to this exchange is that it does not support the purchase of Bitcoin or any other alternative currency through fiat transactions.

Bitstamp: Founded in 2011 and is the oldest exchange offering cryptocurrency and bitcoin trading. Most respected because although he is the oldest, he has not experienced a security threat until recently. Bitstamp currently supports four Bitcoin, Ethereum, Litecoin and Ripple, and is also available with the mobile app, regardless of the website for trading. It has great support for European users or traders who have Euro Banks accounts. The security is advanced and cold storage type, which means coins are stored offline, so you can say that it is not completely possible for any hacker to sneak. Finally, the complex user interface indicates that it is not for a novice user but for professionals and offers relatively low transaction fees.

Kraken: It is one of the largest bitcoin exchanges in terms of liquidity, trading volumes in euro cryptocurrencies, and trading figures in Canadian dollars, US dollars and yen. Kraken is the most respected exchange that is being routed by disruptions in cryptocurrency trading and has managed to maintain client volumes safely regardless of other exchanges being hacked at the same time. With more than 14 cryptocurrency trading methods, the user can deposit fiat currency as well as cryptocurrency along with the similar ability to withdraw operations. However, it is not suitable for beginners but it has better security features and lower transaction fees compared to CoinBase. The most important factor about Kraken is that they are reliable in the community and were the first to display volumes and prices on the Bloomberg Terminal.

6 benefits of investing in cryptocurrencies

The birth of Bitcoin in 2009 opened the doors to investment opportunities in a completely new type of asset class – the cryptocurrency. Many entered space early on.

Fascinated by the huge potential of these nascent and promising assets, they purchased cryptocurrencies at cheap rates. As a result, the year 2017 has seen them become millionaires / billionaires. Even those who haven’t invested much in making decent profits.

Three years later, cryptocurrencies are still profitable, and the market is here to stay. You may already be an investor / trader or maybe considering trying your luck. Either way, it makes sense to know the benefits of investing in cryptocurrencies.

Cryptocurrency has a bright future

According to a report titled Imagine 2030, published by Deutsche Bank, credit and debit cards will be obsolete. Smartphones and other electronic devices will replace it.

Cryptocurrencies are no longer seen as pariahs but rather as alternatives to the current monetary systems. Their advantages, such as security, speed, minimum transaction fees, ease of storage, and their importance in the digital age will be learned.

Concrete regulatory guidelines would popularize cryptocurrencies and boost their adoption. The report predicts that there will be 200 million cryptocurrency wallet users by 2030, and about 350 million users by 2035.

An opportunity to be part of a growing community

WazirX’s #IndiaWantsCrypto The campaign was recently completed 600 days. It has become a huge movement supporting the adoption of cryptocurrencies and blockchain in India.

Also, the recent Supreme Court ruling overturning the RBI cryptocurrency ban from 2018 has led to a new surge of confidence among Indian bitcoin and cryptocurrency investors.

The Edelman Trust Barometer 2020 report also indicates people’s growing faith in cryptocurrency and blockchain technology. According to the results, 73% of Indians trust cryptocurrency and blockchain technology. 60% say the cryptocurrency / blockchain impact will be positive.

By being an investor in cryptocurrencies, you will be part of a thriving and fast-growing community.

Increase your chances of winning

Diversification is an essential rule in investing. In particular, it is during these times when the majority of assets have incurred huge losses due to the economic hardships caused by the COVID-19 pandemic.

While investing in Bitcoin has given returns of 26% year-to-date, gold is back 16%. Many other cryptocurrencies have a three-digit ROI. The stock markets, as we all know, have performed poorly. Crude oil prices dropped significantly below zero in April.

Including Bitcoin or any other digital currency in your wallet will protect the value of your money in such uncertain situations in the global market and this fact was also influenced by billionaire hedge fund manager Paul Tudor Jones when he announced plans a month ago to invest in Bitcoin.

Cryptocurrency markets work 24X7X365

Unlike the usual markets, cryptocurrency markets operate around the clock, all days of the year without getting tired. This is because cryptocurrency systems are primarily designed with bits of code secured by encryption.

The operating diagram does not involve human intervention. Therefore, you are free to trade cryptocurrencies or invest in digital assets whenever you want. This is a great benefit! Cryptocurrency markets are very effective this way.

For example, Bitcoin has successfully processed transactions with 99.98% uptime since its inception in 2009.

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It does not require paperwork or formalities

You can invest in Bitcoin or any other digital currency anywhere and anytime without any unnecessary terms and conditions.

Unlike traditional investment options, where a large amount of documentation is required to establish yourself as a “certified investor,” investing in cryptocurrencies is free for everyone. In fact, this was the ultimate goal behind creating cryptocurrencies. Democratizing money / money.

To buy any cryptocurrency WazirXIn order to open an account, you only need to provide some basic details including your bank account information. Once you check it out, in a few hours, you’re good to go.

Sole Proprietorship in Investment

When you buy Bitcoin or any other cryptocurrency, you become the sole owner of that particular digital asset. The transaction occurs in a peer-to-peer arrangement.

Unlike bonds, mutual funds, and stock brokers, there is no third party that “manages your investment” on your behalf. You can call up the buy and sell shots whenever you want.

User autonomy is the biggest benefit of cryptocurrency systems that provide incredible opportunities to invest and build a pool on your primary capital “independently”.

These were some of the benefits of investing in cryptocurrencies. We hope you’ll find it useful and convincing enough to start your crypto investment journey.