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Plan And Finance Your Beach Dream House

Are you looking for a house that meets all of your needs? Then an individually planned home is just the thing for you. So you can adapt your house to all your needs and put together your very own, perfect house. To ensure that planning or buying your dream home is also stress-free, you should consider ray white cairns beaches.

Ray white cairns beaches: Pay attention to the budget

Buying a house is expensive. You need to be aware of this before planning. Especially if you want one or the other extra, costs can skyrocket. Therefore, calculate your budget carefully and do not plan every penny that is available to you with the first draft.

It is not uncommon for additional costs to arise in the specification of the renovation plans if there are. Leave yourself a financial buffer for any additional costs.

Ray white cairns beaches: Determine the requirements for the dream home

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Ray white cairns beaches: Find the perfect property

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In addition to the building potential, you should above all keep an eye on the location of the property. Accessibility and connectivity are important factors here. Also, consider the cost of living and energy supply in the preferred area.

Posted by Lora Kaety in Finance

The Effects of Cryptocurrency on Banking Credit

Bitcoin

 

What’s the future of banks, central banks, and monetary intermediation on earth in which cryptocurrency is dominant? Let us presume a little, with the proviso that nobody can fully expect these markets will grow.

We could find signs from the address by IMF mind Christine Lagarde at a Bank of England summit in September 2017. She fell any words which likely routed down some chills a couple of spines from the crowd. She clarified that cryptocurrency isn’t just a passing fad but an authentic innovation in currency. The single residual barriers to widespread adoption are technological, fixable, and inclined to be overcome as the industry grows. She contended, has deep consequences for future years of economic intermediation and central banks.

“Ultimately,” she clarified, “we could keep minimal accounts for repayment services on pockets. The rest of the balances might be held in mutual funds or spent in peer lending systems using a border in big numbers and artificial intelligence to get automatic credit scoring… Some might assert that puts a question mark over the fractional banking version we all understand now, in case you can find fewer bank deposits and currency flows into the market through new stations.”

She chose to press on the stage since it pertains directly to the Bank of England and the Federal Reserve.

“How could the fiscal policy be put within this circumstance? Now’s central banks on average impact asset prices through traders, or banks that are big, to that they supply liquidity at predetermined prices — consequently open market operations. However, if those banks were to eventually become less relevant from the new fiscal universe, and requirement for central bank accounts were to decrease, would fiscal policy remain as effective?”

She set a question mark than the previous paragraph, but she would as well have left the announcement Monetary policy can’t work in this particular world. In reality, it’s worse. It may not matter in any respect.

It’s an astounding thing to look at. For at least a century, both professors, authorities, captains of the fund, and also high-level government officials have worked to locate the great fiscal policy to stabilize the macroeconomy, provide incentives for expansion with inflation, and also differently become masters of financial planning.

However, this whole machine is premised on two major problems. To begin with, the federal government has to have a monopoly on currency. It’s held this for over a hundred years. The government prints that the cash, controls its own source, imposes legal-tender, and modulates against the authorities of contracts in unofficial money. And secondly, nearly all of the money needs to be kept somehow from the banking platform. If you simply take away these two, the reason behind central banks has a very critical problem chasing any sort of fiscal preparation in any way.

That’s indeed a different universe. And it’s no surprise the ruling class can be involved.

Now, banks such as JPMorgan and Goldman Sachs are tinkering with block-chain technology and crypto-assets. And la-garde’s own announcement may be viewed to portend that the issuance of a fresh worldwide cryptocurrency to displace the Special Drawing Right. The heart dilemma of these largescale efforts to replicate the energy of this spread ledger is it could be too little, too late. The version of a fresh world of credit and banking is already showing itself.

Could inventories Exist?

What’s traditional banking influenced by cryptocurrency? La-garde offers raises questions regarding fractional-reserve banking and the tradition of keeping fewer deposits hand than could be immediately settled to clients at any 1 time. The custom was well known for centuries, yet it may cause unwarranted expansions of fuel and credit systemwide uncertainty.

Consider the foundation of banks. What was the intention behind the bank? There were traditionally three principal purposes that banks have given in the early world.

The first is to offer safe storage for the money. This really can be actually the warehousing functionality. It’s crucial and worth paying. Folks today want a safe area to put away their own money.

The 2nd could be that your loan work. The more plausible the warehousing work becomes the greater the financial institution is at the position to leverage its specie holdings due to the credit-granting functions. This really will be the source of fractional-reserve banking. The bank can’t cover all depositors on the requirement. On the contrary, it depends upon its own economic soundness and an interest rate of yield for depositors who exude the lender with the duty of maintaining its balance sheet.

The 3rd may be that your clearing strategy. While often there is counterparty risk such trades — both the lender and the depositor needs to trust one another in reality and also make good on promises — that the device hastens trades and certifies that most promises to cover for being retained. At the span between the trade and also the clearing, the money gets to be a charge accepted predicated on confidence.

What happens to those 3 purposes in a crypto-based fiscal market? Let us go.

Warehousing

That money wanted a warehouse has ever been assumed. This has been a technological limit of salt, silver, gold, and so forth. Specie uses space. You want a safe distance because of it. It’s likewise laborious and disheartening for moving out of space into space with one individual. Murray Rothbard, in his publication “Mystery of Banking,” hindsight these facets exist and pointedly says when people had transported coins as opposed to counting on newspaper money in banks, then people might have avoided a hundred years of financial inflation and panic. That is clearly a sound point that conducts right into sensible constraints. The main reason behind notes to represent specie would be to ease commerce in a manner that fulfills the wants of the consumers.

But, as a result of Bit-coin, we are now able to note this warehousing service has been sought after because of physical factors and perhaps not fundamental kinds. Bitcoin includes all of the features of classic money but includes just two edges: it really is weightless and occupies no physical distance.

The currency is “stored” in the Cloud to the block-chain. The private pocket functions the role of providing access via double-key cryptography. When you have your personal key — and that really is about the physical newspaper or onto a computer tool not really connected to the internet — you now still have all you could have to prepare your very own banking domain. Anybody on the planet can perform it without trust relationships, personal identification, or credit rating (like when buying gaming computers bad credit). The associations which appear to be banks — services such as Coinbase which hold your key for you personally — assert a full-reserve policy or risk losing the confidence of their shoppers.

It’s not possible to expect what forms of crypto-derivatives are likely to wind up being securitized and exchanged later on. Surely, the previous nine decades of this hopeless should lead everybody to be more humble in their predictive standpoint. Nevertheless, there’s a great reason to feel that the diminution of both counter-party risks inherent in most sane trade will induce markets toward greater liability in most ways. And that alone could fix the age-old argument concerning fractional versus full bookings with the very greatest possible settlement.

The question will not need to be resolved by intellectuals and coverages. It’s settled by the current market, as long as technology enables visitors to cover services and goods with spaceless and weightless money which needs no more warehousing.

Clearing

In terms of clearing, the single most difficult-to-grasp quality of Bitcoin may be the way it eliminates or reduces counterparty risk related to the fiscal market. Transactions are removed as they’re made. This hasn’t been possible from the real annals of funds and funds on a noncontiguous basis. With conventional currency, for emptying to happen immediately, you’ve got to truly be there, investing in actual dollars for services and goods.

Cryptocurrency reproduces this specific financial arrangement to a peer-reviewed basis involving any 2 individuals anywhere on earth. You’re absolutely trading your own stuff for her or his stuff. Ownership names are redeemed while the trade is supported from the ledger.

What job would be here for banks are the guardians of reimbursement? If it involves clearing services, in terms of I could tell that job will be expunged for the majority of trades which can be settled at the minute of the affirmation (the time delay involved with moving crypto isn’t anything more than the usual delay; it creates no credits).

 

ALSO READ: Bitcoin Market Reacting Negatively to Treasury Secy’s Warnings

 

Think about Charge?

We’re habituated into believing that the entire world runs on charge. That is as it will. This is because we’re financially reckless, are not able to say no, definitely love large financial institutions, or are ready to pay for high-interest rates. It’s since the elegance of modern economic technology was siphoned by traditional payment technology which still functions now how it did at the period of the Medicis.

Whatever the scenario, the principles are the exact same in traditional finance now when weighed against the Medicis. It relies on faith connections, credit programs that reflect real estate but don’t embody this, and also some period delay for trades to clean. Because of this, every trade which isn’t conducted personally via cash is dependent upon an expansion of credit and so involves intermediating third parties, and also that in turn inevitably involves some counterparty risk.

It’s fascinating just how little we know that now, however, the reality becomes evident on closing examination: Each trade now is based on cash (instant title market and draining) or charge (involving trust connections and counterparty risk). Services such as Venmo, Google Deal, Pay Pal, or heaps of others are no different in this respect by Visa, Mastercard, or American Express. They’re less costly, bill different user prices, and apply various ports and security protocols.

However, in the long run, all these services rely upon credit provisions and don’t provide you immediate clearing. They just can’t since the decrepit tech of domestic monies doesn’t permit it. The qualities of the present fiscal fund –centralization, trust relationships, fiscal growth, omnipresent counterparty risk, and gigantic security dangers –all follow from the technical limits of federal money.

Cryptocurrency because a method of easing exchange differs in yet another respect. Its value isn’t linked with a nationalized currency whatsoever. In addition to this, it does not have any value for a product or advantage in any way. Its value is dependant upon the usage price of services supplied by the cloud-based distributed ledger.

Money Substitutes Under Crypto

Even the huge utilization of credit-based exchanges even once we view in domestic monies wouldn’t exist in Bitcoin just as the tech disintermediates the fiscal sector, eliminating both the demand for hope connections in addition to cleaning products and providers. May there appear an industry to get crypto-substitute fiscal derivatives? Only the development of those markets may disclose that for certain, however that much remains authentic. It won’t be about creating brand new money being enabled by this routine. The differentiation between money and currency replacements is likely to soon be evident and not bothered by retrograde documentation tech.

At precisely exactly the exact same period, the climbing problem of existing block-chain solutions will probably demand a seminar of using off-chain platforms such as smaller trades, as Nick Szabo has suggested. Such trades do demand counterparty risk however, perhaps maybe not charge formation, therefore; such systems operate like bank cards. The principal blockchains will probably be employed for closing payments while “radar programs” eventually turned into trust-based credit applications (currency replacements) — intentionally, however, maybe perhaps not by necessity.

This was foreseen by the first commentators and players in the Bitcoin space. The very first man for Bitcoin out of Satoshi has been Hal Finney. In December 2010he published the next note regarding how credit and banks may possibly get the job done. He imagines something of a fresh part for banks by helping Bitcoin to climb.

Actually there’s an excellent reason behind Bitcoin-backed banks to exist, even devoting their very own digital currency money, redeemable for bit-coins. Bit coin it self may scale to get each financial trade in the planet be broadcast to every one and comprised from the cube series. There has to become a second amount of payment systems that can be lighter weight and more successful. Additionally, the timing necessary to get Bit coin trades to finalize would likely probably undoubtedly soon be impractical for moderate to large value purchases.

Bit coin endorsed banks will fix these issues. They are able to work for example banks failed until nationalization of money. Various banks can get different coverages, a few more competitive, a few more conservative. Some are fractional reserve although some might be 100 percent Bit coin backed. Rates of interest can fluctuate. Cash from several banks can exchange at a discount compared to this out of your others.

George Selgin spent some time working outside the theory of competitive totally absolutely free banking in more detail, and he asserts that this sort of method could be stable, inflation resistant and selfregulating.

I feel this are the best fate of Bit coin, to function as the “high-powered money” which functions as a reserve money for banks which issue their particular digital money. Many Bit coin trades will occur between banks, so to repay transfers. Bitcoin trades by private individuals will likely soon be rare as… well, as Bit coin established purchases are now.

In addition, the huge industry connected with credit-based trades features huge machines of fraud avoidance and avoidance of identity theft. That is likewise made unnecessary because individuality is cryptographic and maybe personal.

Credit Markets

All of this said, there’s still a task for credit economies in cryptocurrency. They appear just because they want in a just specie-based monetary regime where everybody carried around their particular coins or stored in your house. When you’ve got excess fiscal reserves on your possession, you might be ready to loan them to other people to make use of and also do this at an advantage. As a way to cut down the possibility of default and ensure that your investment, you require security; this will take any sort. Additionally, you should set a trust relationship exactly the same as almost any other loan marketplace.

The distinction is jarring but subtle. Whenever you advance money, you shed name to these funds, just like though you had moved physical land. Contractual terms would define the means that a subsequent swap will occur in agreement with the conditions of usage. The best way to consider that really is the way it works at a currency market: You loan a pal $20 along with hand him cash. You can’t have it back with force. As the lending company that you count on setting a contractual relationship that produces expectations for prospective repayment, together with some degree of danger.

These markets have previously developed. Businesses like Bitbond and BTCPOP offer providers both for financing money and borrowing cash and with all the stipulations of market Assessing both parties. For the time being, such standalone services can be insecure only as the up-start industry is replete with questionable fraud and schemes.

A great deal more promising is actually really just an easy margin creditor service given by dollar/Bitcoin trades themselves. The debtor doesn’t require direct ownership of these coins, however, is pretty extended by the market at the behest of their consumer who would like to get paid a normal rate of yield. A good instance may be that your financing service supplied from Poloniex. The difficulty these markets have encountered is that distributing crypto is significantly more profitable than giving it at present rates. This could not necessarily be authentic.

Since these markets grow, it wouldn’t really be a surprise to realize that the speed of yield to your creditor could be above the speed an individual could make from hard-won money. The probability of default wouldn’t be ensured whatsoever much like government-backed financial institutions, less a central bank that’s capable of printing boundless sums. On the flip side, this might also eliminate the moral hazard of earning poor loans securitizing debt duties without proper instruction, such as for example happened through housing.

At the century of fundamental banking, we’ve seen interest rates fall inexorably and also the terms of charge issuance changing radically to prefer more periods, ever less security, and more vexing names for ownership. In cryptocurrency-based credit economies, we’re very likely to observe exactly precisely the alternative tendency: briefer provisions, higher security conditions, clear names demarcating incontrovertible rights of ownership, and authorities of provisions assembled into financing protocols.

The Future of Sound Money

Christine Lagarde is right: You will find breathtaking challenges to the status quo which are increasingly now being offered up by the debut of cryptocurrency. Monetary exchange will function exactly the exact same as the cash market, and also the elegance of the settlement and payment technologies will boot with the elegance of their money tools.

In a few respects, cryptocurrency may possibly seem to be stingy compared to our current highly leveraged, shaky, and professionally controlled systems. By comparison, the newest universe will soon likely probably be financially strong, stable, radically disintermediated, decentralized, and democratized as anybody, of any fiscal way and usage of financial institutions can engage inside.

We’ve just started to think of what type of radical change it’d be when our currency actually gained value with the years (since crypto continues for two decades, and also the buck failed in the late 19th century), therefore you truly grow richer only by spending. Such an alteration will be enormous, but not just for fun but also for the culture too.

For at least a hundred years, the banking system was used to invest in their nation, destabilize the market, loot private savings, and exclude those who have no access, promote financial dependence, and possibly make violence potential on an unparalleled scale, and all because we did not have another technology in earning potential fiscal exchange. That monopoly is presently being shattered. Sound money comes into the world. The fear of this ruling class has only begun.

 

Posted by Laney Seward in Cryptocurrency

Bitcoin and Altcoins Prices Continue to Fall

The prices of bitcoin and ethereum continue to drop as investors give in to fears of another global economic slump caused by the quick-spreading delta variant. Although vaccines have become available, the newest COVID-19 variant appears to be much stronger than the original coronavirus strain. Moreover, most countries including the U.S. are faced with anti-vaxxers who remain vulnerable to risks of contracting and spreading the new variant that originated in India.

At present the current investing is centered on government-backed treasure bonds that financial analysts believe are the safest gambling products.

Last Thursday at around 4:00 a.m. EST, bitcoin price dropped below $32,500; but was able to slowly gain ground, which led to a current trading price of 33,316. The problem though is that with cryptocurrency trading, drops in bitcoin prices usually affect the prices of altcoins. The price of ethereum for one, has sunk and is currently trading at $2150, a price that is 8.7% when compared to the previous price index for ether.

Since May, BTC prices began to take a downward trend coming from an all time-high of $65,000 achieved in April. Some traders had hoped that the price falls were temporary and that a turnabout will eventually take place. However, others are saying that BTC prices will sink to $20,000, before institutional investors resume with their buying activities.

CNBC’s Squawk Box Interview with Galaxy CEO Links the Price Drops to China

Mike Novogratz , the CEO of Galaxy Digital who appeared as Squawk Box guest las Thursday said the BTC price drops are results of China’s war against cryptocurrencies. BTC investors in China have been selling off their digital assets, while U.S. investors are buying them. According to Novogratz, China’s crackdown on entities involved in crypto exchanges in China is all part of the “cold war” being waged against the U.S.

On Tuesday last week, another China-based company suspected of rendering software as a service for entities facilitating digital currency transactions, was shut down by China’s central bank. Shut down orders have been regularly taking place in connection with the country’s existing ban against the local cryptocurrency industry.

The price-backslides in bitcoin markets, were triggered by the state of emerg ency declared by Japan. As had been anticipated, the country’s COVID-19 cases spiked after officials of the country insisted on holding the Tokyo Olympic games. As a result trading on equity markets went on a decline, as news of Japan’s emergency declaration sowed fears of another global economic catastrophe.

Posted by Madelina Feliks

Crypto vs Forex Trading: The Similarities and Differences

Crypto Trading

 

There are lots of differences between both crypto and currency trading, however, additionally, there is a good deal of similarities. So let us look at crypto versus forex trading.

Nowadays, we’ll be talking about something which may intrigue a lot of you future traders and investors. Though some may argue that contrasting cryptocurrency trading with foreign currency trading may be like comparing oranges and apples but you’ll find for yourself that is entirely the situation.

Crypto Trading vs. Forex Trading

Crypto trading, exactly like forex, calls for trading currencies. On the other hand, the currency market is bigger and well-established while the crypto marketplace is comparatively a new participant to the spectacle.

Forex entails middlemen, agents, and several different associations that typically accumulate fees at virtually every step along with the trading procedure. But, from crypto trading, there is no middleman and that is most likely the biggest draws for this.

Another significant gap we must mention between both would be the liquidity accessible foreign exchange and also the shortage of it from crypto, as soon as you drift off in the significant cryptocurrency coins. Safety and other problems will also need to be discussed if you genuinely need to comprehend the gaps between currency along crypto trading.

If you’re thinking about which kind of trading, to begin with, this guide can help you. We’ll have a glance at both cryptocurrency trading and currency trading prior to comparing them on a number of fronts. Let us begin.

Cryptocurrency Trading Landscape

As mentioned before, cryptocurrencies are a relatively new entrance into the monetary world. In comparison to forex trading, it is a considerably shorter time period but that does not actually make it any less powerful in the trading area. Considering that the invention of Bitcoin ago in 2009, crypto was in the place, though undergoing a jagged rise and drop in its own value. In the course of ten decades, nevertheless, despite competition currencies emerging and a lot of scams, even Bitcoin still remains a powerhouse in the crypto world.

The function of cryptocurrencies as an electronic advantage is to behave like a decentralized moderate for peer-to-peer trades. As a result of its character and freedom from banks and governments, lately, it has grown into an alternate source of capital and trading for lots of men and women. That is a massive leap from the first days of cryptocurrency as it was mostly utilized in the black sector.

Up to date, there were more than 40 million crypto pockets made and over 1,600 cryptocurrencies in life. Having a steady increase rate because 2016, it is safe to state the crypto marketplace has gotten rather popular with dealers in the past couple of decades.

Along with the multi-coin pockets for electronic resources, there are businesses that have enabled the usage of crypto as a way to cover products and services. This opens new chances to discuss crypto’s potential liquidity and also fiat-to-crypto (and vice versa) transactions to expand trading volumes.

Bitcoin is unquestionably a cryptocurrency to keep a watch out for. But there are several other excellent alternatives to keep an eye out for if you would like to purchase or trade together using cryptocurrencies. As an instance, have a look at LTC (Litecoin) for quick trades or Dash that ensures close untraceable transactions. There are, needless to say, a lot more to test out.

In the end, the money you decide on will be dependent on the way you want to run your trades so ensure that to do your research ahead.

Let us talk just a bit about the differences between investing in and trading cryptocurrencies.

If folks opt to put money into a cryptocurrency, normally this means they are purchasing, let us say, Bitcoin in the very long run. They are certain that the cost will go up, regardless of different elements that might stop that across the way. Those folks today believe in the tech and also the thought behind the money and wish to purchase it together with all the expectations of a future recurrence of investment.

Crypto dealers, on the flip side, buy/sell Bitcoin (we’re utilizing Bitcoin, only for instance), so as to create a profit. Dealers view cryptocurrencies as a tool for making gains, unlike shareholders. Occasionally they might not even examine the ideology or technologies behind the product they’re trading. Additionally, cryptocurrencies are extremely volatile. You may just earn a gain if you are able to properly anticipate what is going to occur in the industry.

 

ALSO READ: Bitcoin Market Reacting Negatively to Treasury Secy’s Warnings

 

Since the cryptocurrency landscape is comparatively new, there aren’t a lot of factors that may lead to price fluctuations. The simple fact they’ve been made as decentralized resources, free of any government/bank controller, things such as speed fluctuations, political things, data releases, and etc. do not quite impact them as far as fiat currencies and the forex currency market, so.

There are numerous elements that may impact cryptocurrency rates. These include:

  • Security defects, leading to strikes on cryptocurrency markets;
  • Nations declaring they are banning cryptocurrencies;
  • Disagreements finished updates. As an example, when a cryptocurrency gets a Tricky fork (this could occur when a Blockchain diverges in two different instructions);

One final thing that you want to understand concerning cryptocurrencies is that every cryptocurrency in the marketplace has another amount of volatility.

You need to try to bear in mind that cryptocurrency markets are a number of the planet’s most volatile markets and also large price swings aren’t something rare.
Cryptocurrency trading can be helpful for you but only in case you’ve got a fantastic comprehension of the current marketplace, followed by a good trading plan and hazard management methods.

Forex Trading Landscape

Let us discuss the currency market real fast. The currency market (FX or currency) is the biggest financial market on earth and it involves purchasing and selling of currencies. Brokers such as Skilling, (check out the trading review for Skilling) are attracted to the marketplace due to its beneficial features, such as a vast array of monies accessible to exchange, low trade costs, 23 hour per day trading throughout the week, and the dimensions of this current marketplace and its volatility.

The currency market enables private individuals, in addition to large institutions, authorities, retail dealers, and much more to exchange 1 currency for another. This occurs within the counter (OTC) throughout the interbank market, rather than a centralized market.

There is a whole good deal of factors really that may move the FX marketplace. Those may include country-specific facets, including GDP, unemployment, inflation, the election of a new president, and much more. That is why traders utilize a financial calendar to keep current with this kind of advice and other significant financial events which may influence the marketplace.

Folks today wonder the best way to earn money trading currency. Even though it’s a simple process it demands a great deal of knowledge, preparation, and expertise. Do not even consider becoming a dealer and earning money in case you don’t have an understanding of trading. You won’t proceed far with no.

Just how do things work in the foreign exchange industry? The idea is easy – if you feel the worth of a currency will go up (value), you purchase the money. This is called going “long”. Whereas in the event that you feel the money will return (depreciate), you market the money that’s called going “short”. There are loads of different currency pairs for dealers providing them the opportunity to place profitable trades and make money.

Crypto vs. Forex Trading

Let us discuss the similarities between currency trading along crypto trading. Have a look at our infographic and discover which kind of trading will likely probably appeal to you.

Which to Choose?

Whether you decide to exchange forex or crypto, then you need to understand that every sort of trading conveys its particular risk and advantages as well as negative and positive sides.

Broadly, forex trading is significantly much more secure, controlled, and steady, but crypto trading may guarantee you bigger returns compared to foreign.

Both markets are rather similar in the sense they are digital trading types of money. As previously stated, all you will need is access to the net along with a computing apparatus to begin trading.

The volatility of the currency market and the volatility of this crypto market usually means that traders would need to use various trading approaches to the 2 markets.

In the end, the size, behavior, and structure of every industry place differ. There are various similarities, but equating these is, as we all mentioned, such as comparing oranges and apples.

Opportunity, but knows no bounds. Many forex dealers have turned into the cryptocurrency markets because of the recent increase in popularity. In the conclusion of the afternoon, the choice of whether to exchange forex or cryptocurrency is dependent upon your own individual objectives, assets, and risk tolerance.

 

Posted by Laney Seward in Cryptocurrency

SEC Docs Reveal Coinbase and Bakkt Behind Hedge-Fund Tycoon’s Bitcoin Venture

US SEC docs revealed billionaire hedge fund manager Paul Tudor Jones’ source of bitcoin assets are the top cryptocurrency trading houses Coinbase and Bakkt, Tudor Jones is one of the early Waĺl Street adopters of bitcoins as hedge fund investment, which he announced in May 2020. He said he invested 1% of his assets in the digital coin as he saw the potential of BTC futures as an inflation hedge against the pending “great monetary inflation” of a resulting economic fallout caused by the global pandemic.

Tudor Jones’ announcement of his bitcoin investment created the right effect. Many other Wall Street investors took his advice by investing in bitcoin futures, while the demand for BTC trended, BTC trading prices soared at record-breaking levels. As of this writing BTC trading closed at $56,467, a far cry from the $9,846 price by which the hedge fund billionaire placed 1% of his assets into BTCs.

Initially, many in the financial trading sector had reservations about Tudor’s promotion of BTC, since they remained doubtful if Tudor actually made outright investments in the cryptocurrency. .The founder of the $44 billion Tudor Investment Corporation whomused to be skeptic about cryptocurrencies, further forecasted that Wall Street was about to witness the phenomenal “birthing of a store of value,” in the crypto money.

Coinbase Prefers Not to Comment on the Revelations

As it is Coinbase Custody Trust Company and Tagomi Trading LLC the brokerage firm acquired by Coinbase in May 2020, the same period Jone made the decision to invest in bitcoins, as well as Bakkt Trust Company, are the current providers of custodial services to the family-exclusive Tudor Jones digital assets. Coinbase prefer not to respond to the revelations that linked them to the hedge fund billionaire’s BTC assets. After all, secrecy and anonymity are among the factors that have been drawing traditional investors to use the digital coin as their hedge investment.

According to Chainalysis, the said companies have played major roles in bitcoin’s bull market in 2020-2021, as blockchain’s data showed that they actively participated in trading more than 500,000 BTCs to financial trading whales during the latter part of 2020.
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Posted by Madelina Feliks in Cryptocurrency

Amidst Increasing Mining Difficulty: Mining-as-a-Service Can Help

Many are now considering mining-as-a-service as a better alternative to investing in costly hardware to pursue plans of joining the bitcoin mining bandwagon.

The bitcoin market has recently been yielding price levels running between between $44K and $46K. A single unit of bitcoin earned as a reward therefore already equates to such price values, which after deducting all related costs could still bring a reasonable return on one’s investment. That is, if projections are based on high hash rates, a condition denoting that a miner can quickly complete a block and present proof-of-work with very little electrical costs involved.

The reality however is that the number of people who are trading bitcoins has increased, in addition to those who have been regularly using bitcoins for their transactions. Growth, especially if phenomenal, has huge impact on the difficulty of mining for BTCs amidst a highly competitive environment. Even if an ASICS mining machine runs the calculations when searching for a block hash, the machine has to perform a massive number of guesses. sometimes replacing numbers thousands of times in order to solve and complete a block of hashes related to a particular block header.

Although there is no limit to the number of guesses made to solve a block hash, the fewer guesses made the more profitable for the miner. That being the case, one’s bitcoin mining machine could run up electricity costs before a miner earns a bitcoin reward, costs that are likely to erode profits projected under normal, less difficult circumstances.

How Can Mining as-a-Service Help Make Mining for Bitcoin More Profitable

The best way to find out whether mining-as-a-service or MaaS is the better alternative, is to try out the platform so you’ll be able to compare if you will be spending less on costs whilst earning rewards at the present difficulty level. In using this type of service, you will have the option to utilize as many bitcoin machines as you want if you’re already a professional bitcoin miner. Startup bitcoin miners though will be limited to one bitcoin machine, until they get to attain that level of mining skills commensurate to a professional miner.

Nonetheless, the main benefit of using MaaS when venturing into the business of bitcoin mining is that you will be using mining machines that run in a thermally controlled environment whilst using low-cost electricity. The provider of a MaaS platform will in turn collect a certain percentage from whatever profits earned by a customer, after the cost of electricity is deducted.

The Elevate Group for one charges a fixed rate of 20% as share of the profit. That is after deducting the costs of electricity used by the bitcoin machine/s included in the Equipment Management Agreement. Additionally, there is a 1% fee collected to cover for the cost and maintenance of the company’s dashboard wallet. To learn more about Elevate Group’s MaaS platform, check out the company’s website, as it furnishes tutorial videos and a page dedicated for FAQs about bitcoin mining.

Posted by Madelina Feliks in Cryptocurrency

Elon Musk’s Dogecoin Endorsement Sets Off Buying Frenzy for the D Coin

After Elon Musk said he would take a break from Twitter, he returned 2 days later with a tweet calling the Dogecoin cryptocurrency ” the people’s crypto.” As investors have been looking into other cryptocurrencies or altcoins that have the makings of the next important crypto money, Musk’s endorsement immediately had set off a buying frenzy for Doge coins.

Musk’s tweet had sent Dogecoin trades surging by more than 50%, boosting the price range of the virtual coin to between $0.054 to $0.064 from a previous $0.0012 After the buying spree occured, Musk tweeted an image of himself depicted as Lion King’s Rafiki, proudly holding the Doge dog mascot up high, whilst adding “ur welcome” as text.

Apparently, the Tesla Chief’s trade recommendations have been making an impact, his recent tweets of support for CD Projekt, Etsy and the controversial games retail giant GameStop created a positive effect. Musk’s support of GameStop had actually boosted a covert 2-year in the making plan hatched by a group of anonymous stock investors converging at Reddit’s r/WallStreetBets forum.

Background Info about Dogecoin

Dogecoin or DOGE is represented by the D symbol , and uses the image of the Shiba Inu dog that originated from the “Doge” meme. It was introduced in December 2013 by founders Billy Markus, an IBM software engineer and Jackson Palmer, an Adobe software engineer. Their goal was to create a digital payment system that will reach a demographic that is far more wide ranging than.bitcoin This explains Elon Musk’s branding of DOGE as the people’s crypto.

In July 2020, a TikTok video that aimed to hike the coin’s worth to $1.sparked an increase of Dogecoin’s price. Reddit users, likewise, gave attention to Dogecoin, as additional support to the Tesla giant’s D coin endorsement. As a result, Dogecoin soared further, bringing the increase in price at an estimated 800%.

Posted by Madelina Feliks in Cryptocurrency

PayPal Moves Forward w/ Cryptocurrency Services Ahead of 2021 Schedule

PayPal announced last Nov. 12, that customers do not have to wait until 2021 for them to open a cryptocurrency account, as the service is now available to use. Qualified PayPal account holders will be able to buy, sell and hold specific cryptocurrencies like bitcoin (BTC), bitcoin cash (BCH), etherium (ETH) and litecoin (LTC). Moreover, the cryptocurrency purchasing limit has been raised to $20k weekly, from the previous $15K per week mentioned in the initial announcement.

PayPal revealed its plans of offering cryptocurrency services last October 21, 2020, whilst stating the the projected rollout will take place in the early part of 2021. Paypal’s cryptocurrency services currently include selling, buying and holding of any of the aforementioned cryptocurrencies.

PayPal’s Cryptocurrency Services is in Partnership with Venmo and Paxos

As it is, the terms and conditions of Paypal’s cryptocurrency services includes a prohibition against the direct transfer of crypto money to the cryptocurrency accounts of relatives and friends, or as direct payment for goods and services purchased from accredited merchants. Apparently, that particular aspect will require the use of Venmo’s social payment platform to which cryptocurrency service involving collaboration with the social payment processor will be available only in 2021 and to PayPal’s network of 26 million merchants,

In the meantime, the availability of PayPal’s cryptocurrency services is currently being carried out through a partnership with Paxos, a fintech firm tasked to handle cryptocurrency transactions in Paypa’s behalf. Paxos is a New York-based financial technology company that uses a private blockchain network in keeping custody of cryptocurrency accounts for delivery, payment and settlement of cryptocurrency transactions. That is why withdrawing crypto money from a PayPal account using an external crypto e-wallet is not allowed.

Basic Eligibility Requirements to Open a PayPal Cryptocurrency Account

First off, a person must be a U.S. resident aged at least 18 years or older; or of the age of majority recognized by the state in which an individual resides. However, the service is still not available to residents of Hawaii.

An existing personal PayPal cash account is necessary, as a means to access the Cryptocurrencies Hub since all related crypto services will be linked to the main PayPal account. A person’s login details to his personal Paypal account will be the same credentials to use when accessing the Cryptocurrencies Hub, as the latter will form part of that person’s Cash Account.

Paypal will also verify the previously verified information submitted when the personal Cash Account was opened, before a Paypal account holder is given access to the Cryptocurrencies Hub. The payments processor also reserves the right to verify from time to time, required information such as name, address, birthday and Taxpayer Identification Number by requesting a copy of a person’s government issued photo ID, or the most recent utility bill or any other proof of current residency.

Posted by Madelina Feliks in Cryptocurrency

Understanding The Forex Market

Trading in the forex market allows anyone to trade at fairly smaller amounts compared to financial markets. Many people are trading the forex market because there’s a higher opportunity to leverage income and make money.

Trading Forex vs. Trading Cryptos

What is the Forex market?

Forex trading is the act of buying and selling currencies to make an income. The forex or the foreign exchange market is the largest in the world and it has a daily turnover of almost five trillion USD. There is no central market place for Forex Market and this mainly differentiates it from trading stocks. Another key difference is that anyone who trades in forex can still make a profit regardless if the market is high or low and prices are declining. The forex trades 24/7 and thus traders can invest any time.

What is moving the foreign exchange market?

There are several factors that cause fluctuation in prices. Below are three factors that primarily impact the foreign exchange market.

  • Supply and demand. The primary moving factor is supply and demand. If the demand for currency pairs heightens, the seller is removed. The moment prices get to a specific threshold, they are going to bring in new sellers to the market.
  • Central bank. Another factor is the central bank because when CB announces measures that impact a certain currency, it follows that prices change. The CB attempts to manage inflation, money supply, and interest rates.
  • News reports. The market had always been influenced by market and news reports. Based on the economic calendar, there are certain news reports that caused high, medium, or low impact. Favorable news reports can increase currency value and unfavorable news reports can lower currency value.

Should you get a forex broker?

You must get a good broker and trading platform in order to trade in Forex. You will also need to have internet access to monitor your investments. A trading platform is a software application that allows you to trade in the forex market. This is made available to you by forex brokers.

Looking for a reliable forex broker? Check out Forex Brokers 2020. 

There are several factors to consider when choosing a forex broker. This includes regulation, minimum account, commissions, account fees, promotions, and platform features. There is high competition among online brokers. In order to be profitable in forex trading, choose an online forex broker tailored to your trading needs. Broker should strictly be regulated.

In any endeavor, background knowledge is important. However, with forex trading, the experience is the best teacher. A demo account is most helpful to help you learn and gain more knowledge in the forex trading industry. Also, trading in a demo account gives a feel of the real market.

Trading strategies

Having a good forex strategy is an important factor in order to ensure profitability. While there are many strategies that claim to be successful, not all are suitable for every trading situation. That’s why it is important to choose one strategy that best matches every situation. For beginners, test your skills in trading by using the demo account. The demo account allows you to discover strategies that will best work for every situation. When you are confident of the strategy you developed or existing strategies that you tested, then you can move on to a live account.

 

Posted by Laney Seward in Finance

Security Researchers Explain Methodology of Crypto Exchange Hackers

Security researchers who convened at the Black Hat virtual conference, reported on how the notorious group CryptoCore was able to hack $200 million worth of crypto money. The heist, as reported by Cointelegraph last June 2020, saw several crypto exchanges operating across the globe, losing cryptocurrencies from cyber attacks perpetuated by way of a phishing campaign that lasted for two years.

The report revealed how crypto exchanges become vulnerable to hackers despite claims of having high privacy and tight security measure in place to protect their funds. Researchers enumerated three methodologies that allowed hackers to succeed in attacking five crypto exchanges in Japan, the Middle East and the U. S, .Omer Shlomovits, cofounder of KZen Networks and Aumasson, a cryptographer categorized the attacks as:

1) Insider attack or inside job,
2) Exploitation of a relationship between a crypto exchange and a customer
3) Partial extraction of secret keys.

According to the report, the approach was similar to breaking open a conventional bank vault by turning on six keys all at the same, which means the hackers had to dissect private keys into smaller pieces in preparation for their cyber heist.

Insider Attack or Inside Job

An insider, explores and exploits the vulnerability of the cryptocurrency exchange’s open-source library. Using the refresh mechanism, an inside attacker who is also a key holder initiates a refresh. Then he or she does some manipulation to alter some keys but at the same time retain some. The manipulation will cause a denial of service that permanently locks out the cryptocurrency exchange out of its own digital funds.

Another way that an inside attacker launches an incursion is to figure out private keys generated by exchange customers when initiating multiple key refreshes. This enables the inside attacker to carry out the stealing process by manipulating exchange processes using false validation statements.

Exploitation of Relationship between Crypto Exchange and Customer

Shlomovits and Aumasson said attacks could occur once the insider becomes a trusted party in a crypto exchange for which they receive their portions of the key. Any of the trusted parties with malicious intent can generate random numbers that is up for public verification. However, the researchers found out that in the case of Binance, the site skipped the checking of random values generated by trusted parties.

Extraction of Secret Keys

Malicious trusted parties use the unvalidated values in sending constructed messages to other users, who in turn, assign the unvalidated information. Exchange users using multiple key refreshers become the targets of the malicious trusted parties, for purposes of extracting private keys to use in launching the cyber hack.

Posted by Madelina Feliks in Cryptocurrency

How to Cash-In Your Cryptocurrency?

Do you have Bitcoin and would like to cash it in to your bank account? Lucky for you as there are a lot of ways on how you can convert it to real money.

Selling it to an Exchange

Selling your Bitcoin to a trusted crypto exchange is basically the simplest method that you can opt for. To ensure that the brokers don’t break any laws, you have to withdraw to same bank account that you have deposited with. It is easy, simple and most of all, secure. However, don’t expect it to be swift.

In the US, the average timeframe for the money to reach your bank account will take 4 to 6 days. But this is going to vary depending on your location. Any associated fees will depend as well on the country where your bank is located.

Cash it out to Fiat via PayPal or Bank Transfer

Today, you are going to find Bitcoin ATMs. In comparison to the conventional ATMs where you make withdrawals from your bank account, Bitcoin ATM serves as the physical center allowing you to sell or buy Bitcoins using fiat money. As of this writing, there are more than 5,000 ATMs spread across 76 countries and you may use the web to find a Bitcoin ATM nearest to you.

Remember always though that these machines are different and this method will be suitable only when making small transactions. This is mainly because of the fact that majority of these Bitcoin ATMs have limits in regards to the amount that can be deposited and withdrawn. The thing with withdrawing from Bitcoin ATM is that, the transaction fees are crazy expensive that range between 7 to 12 percent.

Bitcoin Debit Cards

These days, there are a number of websites that let people to sell their cryptocurrency like Bitcoin and get a prepaid debit card in return. This allows the seller to use it just like how regular debit cards would. Every card is powered either by Mastercard or Visa. Meaning to say, it works perfectly whether online or offline at most businesses worldwide. In addition to making purchases, the cards can be used in withdrawing money at regular ATMs.

Cash Deposit

As a seller, you may just ask the buyer to directly deposit the money to your bank account. Of course, always request for proof of identification before you release your Bitcoins to them.

Now, once you have your money, use it for something productive like investments. Check out websites that do FOREX broker comparison to see which broker work with to handle your finances and grow your money.

Posted by Ness Shantel

Small- Scale Crypto Miners Not Optimistic Over Post-Coronavirus Comeback

As U.S. president Donald Trump wavers on decision to extend the U.S. lockdown or reopen economies, cryptocurrency miners are still weighing on potential outcomes.

Although cryptocurrency trading had slightly recovered, there is still hesitation among miners. The costs of analyzing blockchain transactions remain the same, while prices of digital currency fluctuate; earning them coin values not enough to even recover previous losses.

Most crypto traders do not foresee immediate economic recovery once businesses reopen. The public will have been left with reduced funds, or none at all, to even think of heading out for a buying spree. Besides, the Centers for Disease Control has warned that there could be a second wave that could be more severe than the first. It is likely that any plans for investing or buying will be put on hold as emergency funds; probably until there is certainty of a stable economy..

Unprofitable Bitcoin Mining Operations Could  Cripple Start-Up Mining Businesses

Ideally, the best scenario is one in which the bitcoin price will rise. That way mining operation will regain its profitable traits. In early March, the cryptocurrency industry saw several operators liquidating their bitcoin-backed loans, whilst miners decided to shut down their mining machines.

 

There are also analysis reports of start-up privately-owned mining corporations, to likely disappear. That is  if providers of hardware and funds will give priority to larger mining operators.

Posted by Madelina Feliks in Cryptocurrency

Amidst Continuing Hacks and Scams, How Should the Cryptocurrency System Move Forward in 2020?

It is now widely recognized that the cryptocurrency financial system has become a burgeoning industry. So much so that it has become ripe with opportunities for fraudsters and hackers, as millions have become victims of cryptocurrency investment scams and cyber attacks. Apparently, the common factor that has made victims vulnerable to criminal elements is their complacency.

They see the blockchain system as having sufficient shield against the prying eyes of financial regulators and tax enforcers. Yet they also take it to mean that the entire workings of the cryptocurrency financial system is safe from the schemes devised by scammers and hackers. .

Victims tend to overlook the fact that the beginning and end of cryptocurrency transactions still require participation of banking institutions. Not unless one is a cryptocurrency miner who gets to own a unit of cryptocurrency for every block of encrypted transactions he or she adds to the blockchain system.

Purchasing cryptocurrency with real cash, is still the fastest approach to owning digital money. Mainly because it takes high-powered computers to solve complex encryptions plus a lot of hard work is involved. Now in order to have real-world value, cryptocurrencies have to be cashed out through bonafide bank accounts or central bank-accredited payment processors.

Actions Taken to Strengthen the Security of Financial Transactions Involving Cryptocurrency Exchanges

As far as The Society for Worldwide Interbank Financial Telecommunication or SWIFT is concerned, they have reacted to cyber attacks by reinforcing cybersecurity controls, and by identifying the weakest players in the SWIFT community.

Moreover, this organization of global financial telecommunication experts, makes sure that information about the modus operandi of known cyber attackers, are disseminated worldwide to prevent further occurrences of hacking incidents.

In the cryptocurrency system, which is basically a decentralized method of exchanging digital funds, whilst working outside of a central bank or a recognized administrator, members of the cryptocurrency community rely on each other in preventing scams and hacking incidents.

Cryptocurrency service providers like operators of crypto exchange platforms and digital asset custodianship, have also taken steps to prevent digital funds from being stolen. However, the fact that many crypto-related investment frauds and illegal cash-outs still happen, the use of encryption controls, of blacklisting addresses and of capping cash-out transaction, have not proven as sufficient deterrents against criminal elements and their modus operandi.

What Financial Experts Recommend to the Cryptocurrency Community in Moving Forward to 2020

Many articles written about cryptocurrency fraud suggest that it is not only the technology of the system that requires strengthening. Proponents and players in the digital currency market must acknowledge that it takes more than encryption to provide the necessary check and balances in ensuring the validity of blockchain transactions.

Improving the cryptocurrency system also requires risk management and adherence to basic financial controls. Particularly that of segregating duties, functions and roles among those who have access to the blockchain system to deflect conflicts of interests. Segregation pertains to those who have custody of customer assets, as well as from those who facilitate trading or exchanges of cryptocurrency funds.

Most important of all is to instill the importance of education or know-how among participants, before entering into cryptocurrency transactions.

Rather than have digital asset owners and potential investors rely on information provided by influencers, participants should have a clear understanding of how crypto-exchanges and fund transfers work; of the risks involved, as well as have accessible information about established institutions and organizations that can help in verifying the legitimacy of digital investment offers.

Posted by Madelina Feliks in Cryptocurrency, Finance

Forex Trading And Cryptocurrency Trading

Currently, there are various ways as to how individuals trade forex, such as the use of forex vps, as well as other assets in the industry of finance. With the launch of numerous digital currencies via the blockchain technology, the platforms for trading have taken an entirely different stance.

In recent past, traditional forex trading platforms have encountered several hitches and challenges. However, the key appears to be provided by the range of available digital currencies running on the platform of blockchain technology. So as to completely understand this, it is vital to know what a blockchain is.

It has been mentioned several times in different industries, the blockchain technology is a series of blocks linked together and is made accessible via a public ledger. This public ledger is circulated among crypto users on the technology’s network which is quite advantageous for numerous reasons, such as data security, swift transactions, global reach as well as better financial security.

Forex Trading

The market of foreign exchange is the hugest global market that is decentralized where various currencies are traded from various individuals across the globe. Via the numerous platforms for forex trading, over 5 trillion US dollars traded daily. The forex market is the most liquid in the globe.

By means of forex trading as well as its numerous platforms for trading, there are opportunities for investment that encompass the profitability of involved participants. From a newbie, you could fully turn into a professional trader in a short span of time. To achieve this, an online platform for forex trading is needed.

Cryptocurrency Trading

Different from traditional currencies or fiats, cryptocurrencies (digital currencies) are completely decentralized and operate on the platform of the blockchain technology for diverse uses. Cryptocurrencies aren’t controlled or dominated by whichever central administrator increasing the usefulness, efficacy and use of these cryptocurrencies.

Crypto trade is very distinct from the conventional method of trading, since digital currencies are traded instead of the usual fiat currencies through crypto trading platforms that runs on the platform of blockchain technology as well.

It is a potent skill to learn to trade cryptocurrencies. Generating a profit on platforms for forex trading is essentially depended on difference in values, on the other hand, cryptocurrencies as well as other digital assets are known for their volatility where values always change. Therefore, you have to know and understand which crypto to buy and sell, when and at what price to generate profit.

Trading Crypto On Trading Platforms

Comparable to the traditional forex trading platforms, crypto trading platforms are used for the trade and exchange of digital currencies. Cryptocurrency trade is done between two factions by buying or selling other cryptocurrencies or by exchanging crypto with fiat currency. All these are possible depending on the platform for trading as well as its policies.

Posted by Ned Queen in Cryptocurrency, Finance

Facebook’s Libra Cryptocurrency Faces More Withdrawal of Support for the Project

As U.S. legislators and regulators continue to scrutinize Facebook’s planned launch of its Libra cryptocurrency, six (6) other financial backers of the project have announced withdrawal of their support.

Wary of becoming involved in a financial project that has yet to present proof that it is capable of meeting and complying with regulatory requirements, major credit card companies Visa and Mastercard, decided not to pursue plans of becoming founding members of the Libra Association.

Other companies that withdrew pledge of financial support and membership from the Libra Association, include eBay, Stripe, Booking Holdings and Mercado Pago. This recent development came after PayPal formally announced the company’s withdrawal a week ago.

As a result, the Libra cryptocurrency will only have Netherlands-based PayU on board as payments processor. However, it is purported the PayU is not accessible in the U.S. and Canada, as well as in some areas in the Middle East and Africa.

Treasury Secretary Steven Mnuchin says that it is necessary for the Libra cryptocurrency to meet financial regulatory standards, which up to now is not up to par.

Moreover, Secretary Mnuchin warned that if Facebook’s Libra launches while not meeting the anti-money laundering standards and the standards set by the Financial Crimes Enforcement Network, the Treasury Department would take enforcement actions against Facebook and its proposed governing body, the Libra Association.

Remaining Libra Associates Still Optimistic about the Libra Cryptocurrency Project

Despite the mounting pressure to comply with financial regulatory requirements, and the rising number of partners withdrawing as Libra Associates, the remaining partners held an inaugural meeting in Geneva, Switzerland yesterday (October 14, 2019).

Reuters reported that the remaining 21 members, out of the original 28 previously named as Libra Associates, reaffirmed their support for the cryptocurrency undertaking. The group formed and voted on the 5-member board, whilst agreeing to an interim articles of association, developed in accordance with Swiss Laws.

Making up the 5-member board are Facebook Executive David Marcus, and representatives of PayU, Andreessen Horowitz, Xapo Holdings Limited and non-profit organization Kiva Microfunds.

Posted by Madelina Feliks in Cryptocurrency

Facebook and Its Libra Cryptocurrency Project Suffer from Trust Issues

Facebook’s Libra project is about combining online shopping and making other online financial transactions right on the Facebook platform, whilst using only a single digital currency as acceptable mode of payment. Facebook would call its own kind of cryptocurrency as Libra.

The mechanics looks appealing as it will make Facebook a one-stop-shop environment where people can communicate, meet, shop and transact at the same time. However, there is just one important problem that Facebook will find difficult to hurdle: lack of trust among Facebook users.

The general perception is that the social media site lacks the capability and diligence to prevent the certain forces in the Internet from gaining access to FB-Libra user’s financial information and activities if ever.

Why Many Consider the Facebook Libra Project as Untrustworthy

When Facebook revealed its “Project Libra” sometime in June, it instantly projected a picture in which people living ordinary lives will finally have a chance to dip its hands into the growing world of cryptocurrency. The project looked appealing because it made the process of dealing with cryptocurrency so convenient and at the same time not so complicated.

Yet that is exactly the problem, Project Libra seems all too easy, which if handled by a social media site like Facebook is too risky. After all, not a few million users have had the experience of getting their FB accounts hacked, or the security of their personal information breached.

Technology websites like Tech Republic can present a decade-long list of privacy information breach that the Facebook platform allowed to transpire through the years.

The worst and the most recent was the one carried out by a political consulting and strategic communications company called Cambridge Analytica. The firm was able to gather personally identifiable information from 87 million users who were enticed to take a personality quiz called “This is Your Life.”

The U.S. Congress, through the Senate Committee on Banking, Housing and Urban Affairs held a hearing in which FB Messenger Exec David Marcus and supposed head of the Libra project launch, was grilled on all sides. The hearing ended with Committee Chairman, Senator Maxine Waters, requesting the social media company not to go ahead with the Libra launch until such time that proper legislation governing cryptocurrency operations are in place.

Recent Poll Shows Only 2% of People Surveyed Trust Facebook’s Project Libra

A recent survey conducted by US-based CivicScience involving 1,799 American adults showed that 77% do not trust Facebook with their personal information, while only 2% put a lot of trust on Facebook.

The survey also revealed that when it comes to trusting Facebook’s Libra Project, at least 40% of those who responded say they had less trust in Libra over whatever trust they have for cryptocurrencies like Bitcoin.

Posted by Madelina Feliks

Selling Bitcoins for Real Cash

Owning Bitcoins or any other form of cryptocurrency lets you use it in making direct payments from various companies. Furthermore, it can be sold on exchanges from which you can buy it. The entire transaction only takes minutes but it takes more time to make an actual withdrawal and have it sent to your bank account.

As you read this short article, you are going to discover a couple of ways to sell your cryptocurrency for money.

P2P Exchanges

P2P or Peer to Peer trading is a good alternative to sell your crypto for cash. Here, you have to make an account and be verified in order to confirm your identity. Once everything is set up, you’re now able to cash out coins in a direct manner.

The moment that you get the money, you can use it on wherever you like whether you buy tradelines from this source or whatnot.

Bitcoin ATM

If you are feeling uneasy on the previous method, then why not check out some crypto ATMs. These machines are connected online which lets you insert cash in exchange for cryptocurrrency which is given as paper receipts or moving the money into a public key on blockchain.

Retirement Account

A great number of retirement accounts or IRAs are being managed either by trustees or custodians in behalf of the investors. On the other hand, outside of conventional assets, there are other known opportunities that can be taken advantage of similar to real estate, tax lien certificates, promissory notes, private placement securities, gold and yes, even on Bitcoins as well as other cryptocurrency.

Bitcoin is extremely popular and widely used in today’s time.

Its fame has jumped up from the past few years since it broke out from the market.

Thing is, it’s still not that straightforward to obtain these coins and selling them in exchange for real-world currency may be more difficult.

A Simple Reminder

But if you do understand the content of this article, then you can at least arm yourself with the basic knowledge of cashing out your Bitcoin or whatever cryptocurrency that you own. Just a very quick reminder, be vigilant on the cashing process because there are some machines or frauds. People who are doing these sorts of things are taking advantage of other people’s innocence. So long as you have done your research, you will do just fine in exchanging your coins for money.

Posted by Ness Shantel

Cryptocurrency : What are Altcoins?

Altcoins, which is short for Alternative Coins are the other types of cryptocurrency we can use in the world of decentralized financial transactions. Altcoins were introduced much later after bitcoin, around 2013. Albeit built and working on the same framework by which bitcoins are recorded and transacted, their introduction as alternative cryptocurrency was meant to address discerned limitations of bitcoins, as a medium of exchange outside of financial institutions and regulations.

Hundreds of altcoins arrived, but not all remained or stayed long enough in the cryptocurrency market like Ethereum, Litecoin, Ripple, Dash, Cardano and ZCash, just to name a few. To have an idea if a certain type of alternative coin has chances of achieving growth and stability as a digital currency, it would be best to understand the significance of their respective market capitalization.

What is Cryptocurrency Market Capitalization?

Similar to investing in shares of stocks, the cryptocurrency market capitalization depends on the value per coin and the number of coins circulating in the cryptocurrency market, if more will invest and use a type of altcoin, the greater the market capitalization and potential for growth.

Cryptocurrency Market Capitalization = Price per Coin x Total Supply of Coins in Circulation

Now if there is an increase in the supply of a cryptocurrency, chances are there will also be an increase in the price of the token. Some investors may venture into buying a low-priced, small cap altcoin, which therefore increases the supply in circulation. In exactly the same way, if the supply in circulation decreases, the price per token and the market capitalization also goes down.

The upward or downward trend in market capitalization of an altcoin therefore, indicates whether there is growth or the opposite.

Let us cite Litecoin as example, being one of the most popular altcoins currently in use. This digital currency had a market capitalization of $3.32 billion and price per token of $57.37 in August 2018; denoting that at that time, 58, 207, 830 Litecoins were in circulation.

Now as of this writing (June 13, 2019) Litecoin has a market capitalization of 8.38 billion. The increase of $5.06 billion between August 2018 and June 2019), denotes that there were corresponding increases in the Litecoin supply in circulation during the period. The supply of Litecoin in circulation rose to 62,198,601. As the related demand for Litecoin increased, the price of this altcoin soared to $134.6123 per token.

Litecoin’s popularity and resulting growth is mainly due to its quicker-settlement attribute. As alternative cryptocurrency, a Litecoin transaction can be settled in 2 and ½ minutes, which in contrast to bitcoin takes 10 minutes.

Posted by Madelina Feliks in Cryptocurrency

Make Entreprenueral Headway by Venturing into Bitcoin ATM Operations

Bitcoin ATMs are fast becoming in demand in almost all major cities in the world. The U.S. is currently at the forefront, with approximately 60% of all global Bitcoin ATMs, operating in nearly all American regions. At present, New York City is in the lead for having the highest number of Bitcoin ATMs in operation.

Apparently, the world is becoming cryptocurrency friendly, with bitcoin as the most popular virtual currency in use. In fact, cryptocurrency is fast making its way into becoming a mainstream mode of payment, where acceptance of bitcoin in exchange for goods and/or services is now common among enterprises trading in or out of the Internet.

Potential Growth of Bitcoin ATM Operations in Other American States

The rising popularity of cryptocurrencies is actually attributable to its viability as a lucrative form of tradable investment, in view of its fluctuating value.

Although some U.S. cities are seeing only a handful of Bitcoin ATMs in their midst, increase in numbers is possible. The virtual currency machines will prove to be good for the business, particularly in states that have high concentrations of small to medium enterprises (SMEs) accepting bitcoins as payment for products and services. Arizona for one, has great potential for a Bitcoin ATM venture, seeing that the City of Tucson has been experiencing tremendous growth in almost all business sectors.

The only perceivable reason why cryptocurrency investors are taking cautious steps in bringing their Bitcoin ATM to Tucson, is the lack of specific state regulations governing the use and trade of bitcoins. Regulations tend to vary per state, where most statutes include requiring MSBs involved with operating Bitcoin Machines, to have a surety bond in addition to other legal business requirements.

Legal Document Preparation in Tucson – is likely to be complicated and it would be best therefore to employ providers of legal and accounting services. Doing so will eliminate guesswork, and will ensure the processes involved will run smoothly and in order. After all, lack of virtual currency statutes in Arizona, does not necessarily mean prohibition or deregulation, because there are U.S federal laws and regulators governing virtual currency matters.

Federal laws and state laws prevail, unless there is language specifying the prevalence of one over the other.

Overview of Federal Laws Governing Bitcoin

Installing and operating a Bitcoin ATM requires registering the business with the Financial Crimes Enforcement Network, more popularly known as FinCEN. It is a bureau of the U.S. Treasury Department, tasked with collecting and analyzing information related to the financial transactions of a business. That is because, FinCEN’s main directive is to combat threats posed by domestic and foreign money laundering activities, terrorist financing, and other modes of financial crimes.

Section 314(b) USA PATRIOT Act: Financial institutions with the ability to share information with one another, under a safe harbor that offers protections from liability, to best identify and communicate indicators of potential money laundering or terrorist activities.

On a federal level, Bitcoin ATM operators have to register with FinCEN as a Money Services Business or MSB. An MSB for virtual currencies is further sub-classified as an “exchanger.”

FinCEN registration must be completed within 180 days prior to start of operation, to which registration must be renewed every 2 years.

As MSBs, operators of virtual currency ATMs are required to maintain and monitor records of transactions, as well as report particular information related to FinCEN’s task of detecting and preventing money laundering and terrorist financing activities.

Moreover, MSBs must collect and conduct verification of information supplied as identity and background of their respective customers. That being the case, operators are required to develop and implement a ‘know-your-customer” (KYC) method and policies for verification.

Additionally, an MSB has to institute its own anti-money laundering (AML) program comprising 1) Internal Controls and Procedures, 2) a dedicated Compliance Officer, 3) a sound Hiring and Employee Training System and 4) initiative for periodic and on-demand Independent Audits.

Posted by Madelina Feliks in Cryptocurrency, Finance

Is It Smart To Invest In Bitcoins?

Bitcoin is probably the world’s most talked about currency, though it’s still a wonder to many. Let’s change that and cover a quick overview of Bitcoins. Here is all you need to know about Bitcoin before you even start trading them. Bitcoin, like the euro and the dollar, is a currency used to pay for goods and services online. As opposed to traditional currencies, Bitcoin features the following:

  • It follows a decentralized system where no government or central bank has control over the currency source.
    Bitcoin is entirely digital which means there are no physical coins or paper bills to represent bitcoins. Bitcoins are regularly monitored by blockchains which constantly update records that trace the history of each Bitcoin generated.
  • Bitcoins are linked with a wallet ID instead of your own personal details, however, this does not necessarily make it completely anonymous.
  • Bitcoin started in 2008 by Satoshi Nakamoto. This person released a paper speaking about how Bitcoins can potentially work and after a year it began being mined and traded.

People are so fascinated by Bitcoins because there are no middlemen like banks that charge too many fees. Because it prevails fully on the web, transactions are done entirely by the use of wallet IDs contrary to using your personal information.

Bitcoins can be purchased

You can easily purchase bitcoins using cash, credit or debit cards, or through wire transfers. However, before making a purchase, you will want to set up a bitcoin “wallet” from which the wallet ID is based on. This is simply a place to keep your bitcoins, much like your wallet keeps your money, cards, and other personal IDs.

Bitcoins can be mined

Bitcoin mining is much like mining gold online and thus the term mining. The process makes use of bitcoin trading bots such as those found in Pheeva.com. With banknotes, the government makes the decision as to when is it best to print notes and disperse funds, however, Bitcoin does not have any central regulator, that’s why anyone can mine bitcoins online.

Is it wise to invest in Bitcoin?

Be aware that investing some of your savings on Bitcoin is not the same as investing in the stock market. Having bitcoins is not similar to keeping money in banks.

Wall Street does not trade bitcoins and it also cannot be purchased or sold by brokers. So anything and everything is entirely up to you. Because of its irregular nature, Bitcoin is constantly fluctuating in price and occurs more often than other currencies. If you do not like the risk, you should consider a safer investment than Bitcoin. There is also no real value like gold. The value of bitcoin is what people think. Considering this, its value can be a bit daunting.

Seeing that the number of bitcoins is restricted and Bitcoin is no longer going to be generated after 2040, the idea of diving into some investment is a good idea and it could help broaden your portfolio. The future of Bitcoin is bright but bound on a risky path. Sometime soon, the government may purchase Bitcoin to be stockpiled like gold. This can have a lot of negative effects, but it means that the limited bitcoin would surge in demand.

Reminders when investing in Bitcoins

The most wide-spread type of investment in Bitcoins to buy and stick to Bitcoin and hope that it appreciates in value so that you could make a sale. As with all investments, you must not invest more than what you are willing to lose. Bitcoin is still a very dangerous investment. The key thing to consider when purchasing Bitcoins is to purchase only via reputable exchanges.

One more important reminder is to avoid purchasing all Bitcoins in one transaction. Instead, make use of the dollar cost averaging approach to purchasing fixed amounts on a monthly, weekly, or daily basis. This allows you to buy the largest bitcoin when the price goes up, and the least bitcoin when the price goes down.

Posted by Laney Seward in Cryptocurrency

Blockchain: Understanding Its Significance to the Security of Cryptocurrency Transactions

Blockchain may seem a bit confusing when trying to know your way around cryptocurrency transactions. Yet a clearer understanding of its significance, will give you greater confidence when entering into deals that allow or require cryptocurrency payments such as bitcoin.

The term blockchain in its simplest meaning refers to digital information stored in a database of cryptocurrency transactions. That is why other blockchain definitions refer to it as the public ledger, as every block includes a record of the (1) date, (2) time (3) amount transacted, and (4) the username of the the person initiating the bitcoin payment, and of the person or entity who will receive thè specified bitcoin amount.

A blockchain, as the term denotes is something larger than just of a single, linear digital information. It comprises multiple transactions linked or chained together and recorded as if appearing as one page of a physical ledger. A blockchain though does not have a standard size like a ledger page, but it can store as much as 1 MB of data coming from multiple bitcoin transactions.

However, not all information of a digital currency or bitcoin transaction entering the cryptocurrency database, immediately becomes part of the chain comprising a blockchain. Certain conditions must be met before one gets stored as a component of a blockchain.

When Does a Block Become Part of a Blockchain?

A block of digital information becomes legitimate public ledger entry only if it has been verified, conformed and transformed as component of a blockchain.

First off, if you are the sender of a bitcoin payment you must have a private key known only to you. You obtained a private key when you received that bitcoin, also by way of a transaction that went through your cryptocurrency network.

Private Key vs. Public Key Validation

A private key is a specific code that gives you the legitimate ownership and authorization to use, or send that specific bitcoin to a bitcoin peer in the same network. A private key though, gives you legitimate ownership of the bitcoin only if it is compatible with a public key generated by the database. If a private key and the public key do not make a match, then the bitcoin transaction is invalid and will not be broadcasted in the network as a legitimate bitcoin transaction.

Although a private key validates your transaction, digital currency procedures require confirmation by a third party who will attest to the legitimacy of the transaction. This is where bitcoin miners come into the picture, because their job is to make mathematical computations that will confirm or counter-check if such a transaction has indeed transpired within the network.

Confirmation by Bitcoin Miners

Currently, best practices recommend at least 6 confirmations to be regarded as sound guarantee that the broadcasted bitcoin transaction is legitimate. A confirmation is evidenced by a hash produced by way of mathematical computation, making it unique and attributable only to the block representing the bitcoin transaction. Moreover, that same hash will link with the hash of the most recent block that càme in as new addition.

Each block therefore, once appearing in a blockchain will be difficult to alter or modify. Anyone attempting to do so, has to tamper with several unique hash data linked together as codes of a block.

Posted by Madelina Feliks in Cryptocurrency

Cryptocurrency in New Zealand

The blockchain world is always an interesting emergence. New Zealand is very close to all these improvements and developments. Nevertheless, General manager of FintechNZ, James Brown thinks that New Zealand can become the world’s blockchain central because NZ is naturally keen to technology.

Find out what is cryptocurrency here.

The Crypto Blockchain Sector in New Zealand

There are many people who don’t always link the blockchain development to New Zealand. Given the country’s status as a global center for technology development, this is a bit unusual. At this point, the blockchain facade has been fairly calm. That scenario will eventually change, as outlined by FintechNZ’s James Brown. He believes that this developing technology will continue to have a significant influence.

Simultaneously, New Zealand seems to be paying more and more attention to this technology. Currently, startups have demonstrated a strong fascination in this technology. Not long ago, Blockchain Lab NZ drew even more than 410 million New Zealand dollars because of its ICO listing. All this demonstrates very obvious attention in distributed ledgers.

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Furthermore, there will be a handful of interferences in the industry of online rating and reviews. This will be achieved through some of New Zealand’s technology stars. The leaders in the industry are certain that the right way forward is the positive rating and reviews for the blockchain industry. Positive reviews and ratings can bring in added trust while consistently enabling users to keep a particular level of privacy when rendering data.

New Zealand Citizens Are Concerned About Cryptocurrency Bitcoins

Although countries outside New Zealand are enthusiastic about blockchain, there exist very few working products as of today. It takes time to build these new facilities. Simultaneously, the buzz around this concept has been occurring for a while. It’s time to bring actual use instances to market to demonstrate the possibilities of this concept.

Only a few people recognize that Cryptopia is a New Zealand exchange. The system is known primarily for its altcoin transactions and it is regarded as one of many smaller programs. Nevertheless, they currently have almost 1.5 million clients, a remarkable number for the industry. It really is clear that New Zealand ought not to be forgotten when it comes to cryptocurrency and blockchain.

The main issue is the manner that the local government of NZ act in response to these ongoing developments. Thus far, it appears that the government officials stay open on this matter. Blockchain professionals countrywide hope that the federal government will provide assistance to speed up the acceptance of this concept.

Posted by Laney Seward in Cryptocurrency

Cryptocurrency or Digital Currency: How Much Do You Understand and Know About It?

Transacting by way of bitcoins is an undertaking that requires a whole lot of understanding before a person gets the confidence to enter into cryptocurrency transactions.

First off, it is not the same as paying real cash to another party through a bank or via an ewallet to complete an online transaction. Here, a cryptocurrency payer needs to be part of a network of peers or persons agreeing to pay and receive payments by way of cryptocurrency.

What is Cryptocurrency?

Cryptocurrency represents value of money that was paid or received by a peer to another, then entered as a transaction in a database of entries. In order to send cryptocurrency as payment, the payor or sender of the cryptocurrency must be the holder of a private key that validates his or her right to send that amount of cryptocurrency to a peer.

The recipient peer, on the other hand, will receive his own set of codes that will serve as his private key. That set of key will then give him the right to use the cryptocurrency received for his own future cryptocurrency transaction.

Every private key assigned to a transaction that has been entered in the cryptocurrency database must match a public key. Take note that entries in the database cannot be altered or modified unless that particular condition is met. Otherwise, an invalid private key cannot create a valid cryptocurrency transaction.

Presently, the cryptocurrency widely used is the bitcoin. Persons wishing to use cryptocurrency as means of sending payment must first buy a bitcoin value using real money.

How to Buy Bitcoins

The simplest way to buy bitcoins is to buy them from a reputable bitcoin trader that usually deals with bitcoin exchange transactions. Since real money must be paid in order to acquire a sum of bitcoin by way of credit or debit card, a first time buyer must make certain that he is buying from a legitimate site.

Usually a legitimate bitcoin dealer will sell only minimal amounts, e.g. $50 or less. So once a purchase has been made, the transaction enters the cryptocurrency database. The buyer then receives a private key that will allow him to use the bitcoin for whatever purpose it will serve him.

If a bitcoin buyer wishes to store bitcoins, maintaining a bitcoin wallet is advisable. Here, a person can easily keep track of how much bitcoin he owns, as well as determine the actual real money value of his stored bitcoins.

At some point in time, he may also want to sell some of his bitcoins at a higher price than its actual cost in order to gain profit. However, the value by which a bitcoin is sold depends on the current free market exchange rate, which means the current price index that most bitcoin buyers are willing to pay in exchange for real money.

Posted by Madelina Feliks in Cryptocurrency