6 Benefits of Investing in Cryptocurrencies

Digital Currency, commonly referred to as “Cryptocurrency”, is a type of money that exists only in electronic format. It is a set of data that uses a technology called Block Chain, which acts as a ledger and keeps a history of what Cryptocurrency is used for. Like coins or paper money, Digital Currency is stored in a digital wallet and can be used as a traditional way for buyers and sellers to pay for the exchange of goods and/or services. The transfer of Digital Currency ownership is stored as a record on the Block Chain and can be traced from user to user. Tracking the activity of any currency has obvious benefits, the most significant being proof of ownership and preventing and reducing counterfeiting.

The recent rise in popularity of Cryptocurrency has ushered in a new era of wealth in the tech industry. While traditional means of generating income or accumulating wealth usually involve exchanging a product or service for money or compensation, Digital Currency is created in a completely different way. Just like gold or silver is mined from the ground, Digital Currency uses “miners” to process thousands and thousands of calculations every minute, efficiently digging through a mountain of digital rocks and dirt to determine what ultimately turns out to be a solution to an extremely overwhelming problem. complex math problem.

Until recently, a technologist’s ability to generate wages was based on building digital applications or pitching their technical skills to businesses. However, with the birth of Cryptocurrency, a technologist (or even a novice user with some basic computer programming skills) can bypass the primary occupation and directly engage in the production of this new currency by creating a staff of ultra-powerful computers with the sole purpose of creating it. “my” cryptocurrency.

The corporate world largely depends on the skills and abilities of Computer and IT Professionals. However, as the popularity of virtual money grows and becomes increasingly popular, combined with the natural skills possessed by even the most basic computer programmers, the corporate world may begin to see Cryptocurrency as a threat to their business operations. Digital Currency mining can be a very attractive job opportunity when compared to answering to the boss at a technology firm, thus potentially leading to a shortage of skilled computer programmers in the Technology industry.

What is Bitcoin?

If you’re here, you’ve heard of Bitcoin. This has been one of the most common headlines in the last year – as a get-rich-quick scheme, the end of finance, the birth of a truly international currency, the end of the world, or an advanced technology. the world. So what is Bitcoin?

In short, you can say that Bitcoin was the first decentralized monetary system used for online transactions, but it will probably be useful to dig a little deeper.

In general, we all know what “money” is and what it is used for. The most significant issue witnessed in the use of money prior to Bitcoin is that it was managed by a centralized and unified entity – the centralized banking system. Bitcoin was invented in 2008/2009 by an unknown creator known by the pseudonym “Satoshi Nakamoto” to bring decentralization to money on a global scale. The idea is that currency can be bought across international lines without hassle or commission, checks and balances will be distributed around the world (not just on the books of private corporations or governments), and money will become more and more democratic. equally accessible to all.

How Bitcoin Started?

The concept of Bitcoin and cryptocurrencies in general was created in 2009 by an unknown researcher, Satoshi. The reason for his invention was to solve the problem of centralization in the use of money based on banks and computers, an issue that many computer scientists were not happy with. Achieving decentralization has been unsuccessful since the late 90s, so when Satoshi published a paper in 2008 proposing a solution, it was widely welcomed. Today, Bitcoin has become a familiar currency for internet users and has spawned thousands of “altcoins” (non-Bitcoin cryptocurrencies).

How is Bitcoin made?

Bitcoin is made through a process called mining. Just as paper money is created by printing and gold is mined, Bitcoin is created by “mining”. Mining involves solving complex mathematical problems involving blocks using computers and adding them to the public ledger. When it started, a simple CPU (like your home computer) was all you needed to mine, but the level of difficulty has increased significantly and now you need specialized hardware, including a high-end Graphics Processing Unit (GPU). Withdraw Bitcoin.

How can I invest?

First, you need to open an account with a trading platform and create a wallet; You can find some examples by searching Google for ‘Bitcoin trading platform’ – they usually have the names “coin” or “market”. After joining one of these platforms, you click on assets, then click on crypto to select the currencies you want. Each platform has many indicators that are quite important and you should make sure you observe them before investing.

Just buy and keep

Although mining is the most secure and in some ways the simplest way to earn Bitcoin, there is too much fuss involved and the cost of electricity and dedicated computer hardware makes it out of reach for most of us. To avoid all this, make it easy for yourself, enter the desired amount directly from your bank and click “buy”, then sit back and watch your investment grow according to the price change. This is called an exchange and occurs in many transactions. exchange platforms available today with the ability to trade between many different fiat currencies (USD, AUD, GBP, etc.) and various crypto coins (Bitcoin, Ethereum, Litecoin, etc.).

Bitcoin trading

If you are familiar with stocks, bonds or Forex exchanges, you will easily understand crypto trading. There are e-social trading, FXTM markets.com and many other Bitcoin brokers you can choose from. Platforms provide you with Bitcoin-fiat or fiat-Bitcoin currency pairs, for example BTC-USD means trading Bitcoin for USD. Pay attention to price changes to find the perfect pair according to price changes; platforms provide price among other indicators to give you proper trading advice.

Bitcoin like stocks

There are also organizations that allow you to buy shares of companies that invest in Bitcoin – these companies trade back and forth, and you simply invest in them and wait for your monthly benefits. These companies simply pool the digital money of various investors and invest on their behalf.

Why should you invest in Bitcoin?

As you can see, investing in Bitcoin requires having some basic knowledge about the currency as explained above. As with all investments, it involves risk! Whether to invest or not is entirely up to the individual. However, if I were to give advice, I would advise investing in Bitcoin because Bitcoin continues to grow – although there has been one major boom and bust period, it is highly likely that cryptocurrencies as a whole will continue to grow. value growth over the next 10 years. Bitcoin is the biggest and most popular of all the cryptocurrencies out there, so it’s a good place to start and the safest bet right now. Although volatile in the short term, I doubt you will find Bitcoin trading more profitable than most other ventures.

Blockchains, sidechains, mining – terminologies keep piling up by the minute in the arcane world of cryptocurrency. While it may sound reasonable to introduce new financial terms in an already complex financial world, cryptocurrencies offer a much-needed solution to one of the biggest concerns in today’s money market – the security of transactions in the digital world. Cryptocurrency is a defining and disruptive innovation in the fast-paced world of fin-tech, a fitting answer to the need for a secure medium of exchange in the days of virtual transactions. In an age where deals are just numbers and numbers, cryptocurrency offers to do just that!

In the most rudimentary form of the term, cryptocurrency is a proof of concept for an alternative virtual currency that promises secure, anonymous transactions through a peer-to-peer online network. The misstatement is more about ownership than actual currency. Unlike everyday money, cryptocurrency models work without a central authority as a decentralized digital mechanism. In a distributed cryptocurrency mechanism, money is issued, managed, and verified by a collective community peer network—known as its persistence. mining in a peer’s car. Successful miners also receive coins by evaluating the time and resources they use. Once spent, the transaction information is transferred to the blockchain on the network under public key, preventing each coin from being spent twice by the same user. Blockchain can also be thought of as a cash register. Coins are stored behind a password-protected digital wallet representing the user.

In the world of digital currency, the supply of coins is predetermined without manipulation by any individual, organization, government agency or financial institution. The cryptocurrency system is known for its speed, as transactions on digital wallets can materialize funds within minutes compared to a traditional banking system. It is also irreversible by design, reinforcing the idea of ​​anonymity and eliminating the chance of money being returned to the original owner. Unfortunately, the salient features – speed, security and anonymity – have made cryptocurrencies a mode of operation for many illegal trades.

Just like the real-world money market, exchange rates fluctuate in the digital coin ecosystem. Due to the limited supply of coins, as demand for the currency increases, coins increase in value. Bitcoin is the largest and most successful cryptocurrency ever, with a market cap of $15.3 billion, a 37.6% market share, and a current price of $8,997.31. Bitcoin hit the currency market in December 2017, trading at $19,783.21 per coin, before experiencing a sudden decline in 2018. This drop is partly due to the rise of alternative digital coins such as Ethereum, NPCcoin, Ripple, EOS, Litecoin and MintChip.

Due to hard-coded limits on its supply, cryptocurrencies are considered to follow the same economic principles as gold – price is determined by limited supply and demand fluctuations. With constant fluctuations in exchange rates, their sustainability remains to be seen. Consequently, investing in virtual currencies is more of a speculation than a daily money market.

After the industrial revolution, this digital currency is an indispensable part of technological disruption. To a casual observer, this rise can seem exciting, threatening, and mysterious all at once. While some economists are skeptical, others see it as a lightning revolution in the money industry. Conservatively, digital coins are on track to supplant about a quarter of national currencies in developed countries by 2030. This has already created a new asset class alongside the traditional global economy, and a new set of investment vehicles will be created from crypto-finance in the coming years. Recently, Bitcoin may have dropped to focus on other cryptocurrencies. However, this does not signal any crash of the cryptocurrency itself. While some financial advisors emphasize the role of governments in cracking down on the underworld to regulate the central government mechanism, others insist on continuing the existing free flow. The more popular cryptocurrencies are, the more scrutiny and regulation they attract—a common paradox that plagues the digital record and defeats the very purpose of its existence. In both cases, the lack of intermediaries and controls makes it extremely attractive to investors and causes daily trading to fluctuate dramatically. Even the International Monetary Fund (IMF) fears that cryptocurrencies will displace central banks and international banking in the near future. After 2030, regular trade will be dominated by the cryptocurrency supply chain, which will offer less friction and more economic value between technologically savvy buyers and sellers.

If cryptocurrency aspires to become an essential part of the existing financial system, it must meet very different financial, regulatory and societal criteria. To offer its main benefit to a mainstream money system, it needs to be hacker-resistant, consumer-friendly and heavily protected. It should protect the user’s anonymity without being a channel for money laundering, tax evasion and internet fraud. These are must-haves for a digital system, so it will take a few more years to figure out if cryptocurrency can fully compete with real-world currency. While this is likely to happen, the cryptocurrency’s success (or lack thereof) in overcoming the challenges will determine the fate of the monetary system in the coming days.

It’s been more than a decade since cryptocurrency started to captivate people over social media and especially the internet. Bitcoin managed to rank among the top cryptocurrencies today, no one knows about the exact origin of the currency, but it originated in mid-2008 with a Japanese pseudonym “Satoshi Nakamoto”.

So, what exactly is this Bitcoin Currency and why has it been able to maintain its place in the financial markets. Well, the reasons listed below can give you an idea of ​​its popularity and a proof of its future safe existence.

• Bitcoin is the first decentralized digital currency.

• Bitcoin is an independent free-floating currency that is neither owned by any government nor linked to any other currency to be influenced in value by economic indicators that govern the value of traditional currencies.

• With its growing popularity among the masses, it now has an increasing level of acceptance at all levels, for example, you can now directly buy products with Bitcoin cryptocurrency, as well as trade 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, transfers are instant.

• The convenience of conducting transactions over the Internet or your mobile phone in a few clicks.

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

• With traditional money transfers, you have to pay a fee depending on the volume of your transactions, and then these transfers are subject to your specific regional and state regulations. It does not require you to be bound by any government regulations when transacting with the Bitcoin cryptocurrency, and moreover, it does not require large transaction fees.

• Since you are the only person with access to your e-wallet, your coins are always with you and no one can steal your money. Due to the shared public ledger, the process and transactions are transparent and anyone can verify the transaction at any time from anywhere in 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 the Bitcoin cryptocurrency, we can safely assume that the future of Bitcoin is not only secure, but rather bright, and that this innovative payment method is here to stay.

What will be the future of money? Imagine walking into a restaurant and looking at the digital menu board for your favorite meal. Only, it shows as 009 BTC, not $8.99.

Could cryptocurrency really be the future of money? The answer to this question depends on the general consensus on several key decisions, from ease of use to security and regulations.

Let’s explore both sides of the (digital) coin and compare and contrast traditional fiat money with cryptocurrency.

The first and most important component is trust.

It is important that people trust the currency they use. What gives the value of the dollar? Is it gold? No, the dollar has not been backed by gold since the 1970s. So what gives the dollar (or any other fiat currency) value? Some countries’ currencies are considered more stable than others. Ultimately, people trust that the government that issued that money stands firmly behind it and essentially guarantees its “value.”

How does trust work with Bitcoin since it’s decentralized, meaning they don’t have a governing body that issues the coins? Bitcoin basically sits on the blockchain, an online ledger that allows the entire world to see every transaction. Each of these transactions is verified by miners (people who run computers on a peer to peer network) to prevent fraud and also to ensure that there is no double spending. In exchange for their services in maintaining the integrity of the blockchain, miners are paid for each transaction they verify. Since there are countless miners trying to make money, each one checks each other’s mistakes. This proof of work process is that the blockchain is never hacked. In fact, this belief is what gives Bitcoin its value.

Next, let’s look at security, which is trust’s best friend.

What if my bank was robbed or my credit card was fraudulent? My bank deposits are covered by FDIC insurance. My bank will likely charge back any charges I never made on my card. That doesn’t mean criminals can’t pull off at least some frustrating and time-consuming stunts. It is probably more or less the comfort of knowing that I will recover from any wrong done to me.

There are many options for where to store your money in cryptocurrency. For your protection, it is important to know that the transactions are insured. There are reputable exchanges like Binance and Coinbase that have a proven track record of fixing bugs for their customers. The same is true of cryptocurrency, as there are less than reputable banks around the world.

What happens if I throw a twenty dollar bill into the fire? The same is true for cryptocurrency. If I lose my credentials for a particular digital wallet or exchange, I won’t be able to access those coins. Again, I cannot stress enough the importance of doing business with a reputable company.

The next issue is scale. Currently, this may be the biggest obstacle preventing people from transacting more on the blockchain. When it comes to the speed of transactions, fiat money moves faster than cryptocurrency. Visa can process about 40,000 transactions per second. Under normal conditions, the blockchain can only handle 10 per second. However, a new protocol is coming into force that will increase this to 60,000 transactions per second. Known as the Lightning Network, this could result in cryptocurrency becoming the future of money.

No conversation is complete without talking about comfort. What do people typically like about traditional banking and spending methods? For those who prefer cash, it is often very easy to use. If you’re trying to book a hotel room or a rental car, you need a credit card. Personally, I use my credit card everywhere I go because of the convenience, security, and rewards.

Did you know there are companies that provide all of this in the crypto space as well? Monaco now issues Visa logo cards that automatically convert your digital currency into local currency for you.

If you’ve ever tried to transfer money to anyone, you know that the process can be tedious and expensive. Blockchain transactions allow a user to send cryptocurrency to anyone within minutes, regardless of where they live. It’s also much cheaper and safer than sending bank money.

There are other modern money transfer methods available in both worlds. Take apps like Zelle, Venmo, and Messenger Pay, for example. These apps are used by millions of millennials every day. Did you know they are starting to integrate cryptocurrency as well?

Square Cash now includes Bitcoin, and CEO Jack Dorsey said: “Bitcoin doesn’t stop at buying and selling for us. We believe it’s a transformational technology for our industry, and we want to learn as quickly as possible.”

“Bitcoin presents an opportunity for more people to have access to the financial system,” he added.

While it’s clear that fiat costs still dominate the way most of us transfer money, the fledgling cryptocurrency system is quickly gaining ground. The evidence is everywhere. By 2017, mainstream media coverage was hard to come by. Almost every major business news story now involves Bitcoin. From Forbes to Fidelity, they are all measured by their opinions.

What is my point? Perhaps the biggest reason for Bitcoin’s success is that it is fair, inclusive and provides financial access to more people around the world. Banks and large institutions see this as a threat to their existence. They are on the losing side of the biggest wealth transfer the world has ever seen.

Still undecided? Ask yourself this question: “Do people trust governments and banks more or less with each passing day?”

Your answer to this question may be what determines the future of money.

In 2008, after the financial crisis, an article titled “Bitcoin: A Peer-to-Peer Electronic Cash System” was published detailing the concepts of the payment system. Bitcoin was born. Bitcoin has gained worldwide attention due to its use of blockchain technology and as an alternative to fiat currencies and commodities. Dubbed as the next best technology after the Internet, blockchain has offered solutions to problems that we have not been able to solve or seen for the past few decades. I won’t go into the technical side of it, but here are some articles and videos I recommend:

How Bitcoin Works Under the Hood

A subtle introduction to blockchain technology

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

Fast forward to today, February 5th to be exact, Chinese authorities have introduced a new set of regulations banning cryptocurrency. The Chinese government already did this last year, but many avoided it through foreign currencies. It has now launched the mighty “Great Firewall of China” to block access to foreign currencies to prevent its citizens from conducting any cryptocurrency transactions.

To know more about the position of the Chinese government, let’s go back to 2013, a few years ago, when bitcoin gained popularity among Chinese citizens and prices soared. Concerned about price volatility and speculation, the People’s Bank of China and five other government ministries issued an official notice in December 2013 titled “Bitcoin Financial Risk Prevention Notice” (Link is in Mandarin). A few points were highlighted:

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

2. All banks and financial institutions are prohibited from offering Bitcoin-related financial services or engaging in Bitcoin-related trading activities.

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

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

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

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

Although the notice dates back to 2013, it is still relevant to the Chinese government’s stance on Bitcoin, and as mentioned, there is no indication that Bitcoin and cryptocurrency will be banned. Conversely, regulation and education about Bitcoin and blockchain will play a role in the Chinese crypto market.

A similar notice was issued in January 2017, again emphasizing that Bitcoin is a virtual commodity, not a currency. In September 2017, the boom in initial coin offerings (ICOs) led to the publication of a separate notice entitled “Notice on Financial Risk Prevention of Issued Tokens”. ICOs were soon banned and Chinese exchanges were investigated and eventually shut down. (Hindsight 20/20, they made the right decision to ban ICOs and stop pointless gambling). Another blow to China’s cryptocurrency community came in January 2018 when mining operations faced severe pressure due to excessive electricity consumption.

While there is no official explanation for the crackdown on cryptocurrencies, capital controls, illegal activities, and protecting citizens from financial risk are among the main reasons cited by experts. Indeed, Chinese regulators have imposed tighter controls, such as capping overseas withdrawals and regulating foreign direct investment, to limit capital inflows and ensure inward investment. Anonymity and the ease of cross-border transactions have made cryptocurrency a favorite vehicle for money laundering and fraudulent activity.

Since 2011, China has played a crucial role in Bitcoin’s meteoric rise and fall. At its peak, China accounted for more than 95% of global Bitcoin trading volume and three-quarters of mining operations. As regulators stepped in to monitor trade and mining operations, China’s dominance was significantly reduced in exchange for stability.

Countries like Korea and India are following these pressures, now casting a shadow over the future of cryptocurrency. (I’ll repeat my point here: countries regulate cryptocurrency, not ban it). We will no doubt see more countries joining in to rein in the stormy crypto market in the coming months. Indeed, some sort of order was long overdue. Over the past year, cryptocurrencies have experienced unheard of price volatility and ICOs are happening literally every day. In 2017, the total market capitalization increased from 18 billion US dollars in January to 828 billion US dollars.

Nevertheless, the Chinese community is surprisingly in good spirits despite the pressure. Online and offline communities are flourishing (I’ve personally attended several events and visited some firms) and blockchain startups are sprouting up all over China.

Big blockchain firms such as NEO, QTUM and VeChain are attracting a lot of attention in the country. Startups like Nebulas, High Performance Blockchain (HPB) and Bibox are also gaining quite a bit of traction. Even giants like Alibaba and Tencent are exploring the possibilities of blockchain to improve their platforms. The list goes on, but you get me; There will be a HUGGEE!

The Chinese government is also embracing blockchain technology and has increased its efforts to support the creation of a blockchain ecosystem in recent years.

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

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

A recent report by the China Blockchain Research Center titled “China Blockchain Development Report 2018” detailed the development of the blockchain industry in China in 2017, including the various measures taken to regulate cryptocurrency on the mainland. In a separate section, the report highlighted the optimistic outlook of the blockchain industry and the massive attention it received from VCs and the Chinese government in 2017.

In summary, the Chinese government has shown a positive attitude toward blockchain technology despite its application to cryptocurrency and mining operations. China wants to control cryptocurrency, and China will get control. Repeated enforcement by regulators was intended to protect citizens from the financial risk of cryptocurrencies and limit capital flows. Currently, it is legal for Chinese citizens to hold cryptocurrencies, but they are not allowed to carry out any form of transaction; therefore, exchange is prohibited. As the market stabilizes in the coming months (or years), we will undoubtedly witness a revival of the Chinese crypto market. Blockchain and cryptocurrency go hand in hand (except on a private chain where a token is redundant). So countries can’t ban cryptocurrency without banning blockchain, which is an awesome technology!

One thing we can all agree on is that blockchain is still in its infancy. We have many exciting developments ahead of us and right now is definitely the best time to lay the groundwork for a blockchain-powered world.

Finally, HODL!

ICO has proven to be a revolutionary way to raise money for many companies and projects. ICO can be said as a mixture of traditional methods with advanced techniques. The main thing to consider here is that investors investing in ICOs are 100% risk-free due to the technology used.

So far, most ICO funds have been raised via Bitcoins (BTC) or Ether (ETH). When conducting an ICO, the project generates a Bitcoin or Ethereum address to receive funds and then displays it on the corresponding website. The procedure is the same as opening a bank account and then displaying it to people on a certain web page so they can send money.

An initial coin offering (ICO) is an illegal way to raise crowdfunding mainly through various cryptocurrencies (in a few cases fiat currencies) and is operated by cryptocurrency organizations to obtain the capital funds required to implement a project. In an ICO, a certain portion of the recently issued cryptocurrency is sold to investors in exchange for any legal tender or any other cryptocurrency. It can be said as a token sale or crowd sale, which involves receiving investment amount from investors and providing them with some features related to the project to be started.

An IPO, i.e. an Initial Public Offering, is a process somewhat related to the ICO, where investors buy a stake in the company’s ownership. When in an ICO, investors buy the company’s coins, which can increase in value if the business takes off.

The first token sale, i.e. ICO, was carried out by Mastercoin in July 2013. Ethereum raised money in 2014 through an ICO. ICO has taken on a whole new definition in the past years. In May 2017, there were approx. 20 offers and also a new web browser Brave’s ICO raised nearly $35 million in just 30 seconds. By the end of August 2017, a total of 89 ICO coin sales had been held since January 2017, worth $1.1 billion.

Investors send Bitcoin, Ethereum, or any other cryptocurrency to the specified address and in return receive new tokens that can benefit them greatly if the project takes a hit.

• ICO is mainly done for cryptocurrency based projects based on decentralized technique. So, of course, such projects will only attract investors who have a keen interest in the concept of cryptocurrency and are friendly with the technology used.
• An investor document really remains in the form of a web page, white paper, or web post. Some of these documents provide accurate details of the project, while others literally falsify its features to confuse interested parties. So, before you trust any white paper or white paper, do a quality check.

A Cryptocurrency Exchange or Digital Currency Exchange is a business that involves the exchange of cryptocurrency with other assets such as money or any other digital currency. It is a web service that provides and charges for electronic transactions in electronic form.

Any transaction or transactions to the Digital Currency Exchange can be made by debit and credit cards, postal money orders or any other money transfer. This article discusses various cryptocurrency exchanges that facilitate cryptocurrency trading for beginners and what they offer in terms of availability, ease of use, security, deposit/withdrawal methods and fees. We hope this guide to cryptocurrency trading can help you get started with cryptocurrency exchanges.

Coinbase/GDAX

Coinbase is one of the largest cryptocurrency exchanges based in San Francisco, California. It is present in 32 countries and currently serves more than 10 million customers. Launched in 2012, it has an easy-to-use interface that makes Digital Currency Exchange an easy task for a non-technical person. It is also available for both iOS and Android. Unfortunately, Coinbase does not provide cryptocurrency mining for beginners and is only an exchange.

It currently offers four coins, Bitcoin, Bitcoin Cash, Ethereum and Litecoin. Exchanges digital currency for US Dollars, Euros and British Pounds. With minimal transfer fees, Coinbase has never experienced any security breaches, making it the perfect platform for digital currency exchanges. In addition, Coinbase also offers a full-fledged advanced exchange called GDAX. It offers more advanced features and different and better trading fees than Coinbase.

Bitstamp

Bitstamp is another platform that provides digital currency exchange. It is relatively easy to use and offers more advanced features through TradeView. Bitstamp offers coins like Bitcoin, Litecoin, Ethereum, Bitcoin Cash and ripple. Exchanges digital currency for US dollars and Euros. You can practice all the latest cryptocurrency trading methods on this exchange.

Offers Flat deposits via bank transfers and supports debit/credit cards. Perhaps the only drawback you will find with Bitstamp is the somewhat high fees and the fact that it suffered a security breach within 7 years. Nevertheless, it is one of the most reliable exchanges. Available on both iOS and Android.

Twins

Gemini is a UK-based company founded in 2015 by the Winklevoss twins. Available in several countries including the US, Canada, Hong Kong, Singapore and South Korea. One of the downsides of this platform is that it is not particularly user-friendly. So beginners are not advised to use this platform.

Offers two coins and 1 FLAT currency Bitcoin Cash, Ehtereum and USD. Gemini follows strict protocols when it comes to security and has not experienced a single security breach since 2018, making it one of the most trusted and reliable digital currency platforms. However, it is important to have digital currency investment strategies before you start trading.

Digital ticks

Digital ticks is a modern cryptocurrency exchange that aims to be a game changer in this sector. They have implemented many latest techniques that make it easy for anyone to start trading.

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

Kraken

Kraken is one of the oldest cryptocurrency exchange platforms. Launched in 2011, kraken is the largest exchange in terms of volume and liquidity for EUR trading pairs. It serves all over the world, including the United States.

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

Bitfinex

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

Like previous cryptocurrency exchanges, it supports withdrawals using US dollars and Euros via bank transfers. Bitfinex has suffered two security breaches, the first in May 2015, which resulted in a loss of $330,000. The second resulted in a loss of $72 million in August 2016.

EtherDelta

EtherDelta is a decentralized exchange that directly supports peer-to-peer communication. This is very different from the previously discussed cryptocurrency exchange platform. Here, funds are stored in a smart contract on the Ethereum network, where you are solely responsible for depositing and withdrawing. Currently, EtherDelta only supports Ehtereum based tokens.

EtherDelta has a rather confusing interface that makes it difficult for users to perform cryptocurrency exchange transactions. Someone once tried to buy 750 Kybers for 0.007 ETH each, but ended up getting 0.007 KNC for 750 ETH.

The result

After looking at various cryptocurrency exchange platforms, we can confidently say that Coinbase and Bitstamp stand out for their good features like security, user-friendly interface, multiple withdrawal/transfer methods and more.

I wouldn’t call them perfect, but I would recommend that this is the safest bet you can make. Each cryptocurrency exchange platform is unique in its own way and has both advantages and disadvantages. We just have to choose the one that suits our needs. We hope this guide to basic cryptocurrency exchanges and trading will give you a head start on your Cryptocurrency trading journey.

In 2017, the price of bitcoin rose rapidly. Coinbase, one of the world’s largest cryptocurrency exchanges, was in the right place at the right time to take advantage of the interest rate hike. However, Coinbase is not interested in taking cryptocurrency earnings for granted. To stay ahead of the larger cryptocurrency market, the company is raising money for its master plan. As of 2017, the company’s revenue was reported at $1 billion, and over $150 billion in assets were traded between 20 million clients.

San Francisco-based Coinbase is recognized as the leading cryptocurrency trading platform in the US, and its continued success has earned it the 10th spot on the CNBC Disruptor list for 2018 after failing to make the list for the previous two years. .

On its way to success, Coinbase left no stone unturned in poaching key executives from the New York Stock Exchange, Twitter, Facebook and LinkedIn. Its full-time engineering staff has almost doubled this year.

Earn.com was acquired by Coinbase for $100 million in April of this year. This platform allows users to send and receive digital currency while responding to mass market emails and completing microtasks. Currently, the company plans to bring in former Andreessen Horowitz venture capitalist, Earns founder and CEO, as its first chief technology officer.

At the current valuation, Coinbase valued itself at around $8 billion when it was set to acquire Earn.Com. This value is significantly higher than the estimated valuation of $1.6 billion in the last round of venture capital funding in the summer of 2017.

Coinbase declines to comment on the valuation despite having more than $225 million in funding from top VCs, including Union Square Ventures, Andreessen Horowitz and also the New York Stock Exchange.

To meet the needs of institutional investors, the New York Stock Exchange plans to open its own cryptocurrency exchange. Nasdaq, the NYSE’s rival, is considering a similar move.

• Competition is coming

As competing organizations look to get a piece of Coinbase’s business, Coinbase is looking for other venture capital opportunities to build a moat around the company.

Nomura analyst Dan Dolev said Square, run by Twitter CEO Jack Dorsey, could acquire Coinbase’s exchange business as it launched cryptocurrency trading in its Square Cash app in January.

Coinbase’s average trading fees were about 1.8 percent in 2017, according to Dolev’s calculations. Such high fees may drive users to cheaper exchanges.

Coinbase wants to become a one-stop shop for institutional investors while hedging the exchange business. To attract this class of white-glove investors, the company announced a fleet of new products. This class of investors has been particularly wary of entering the volatile cryptocurrency market.

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

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

Institutional investors are concerned about security, even though they know Coinbase has never been hacked like some other global cryptocurrency exchanges. The Coinbase president and COO said that the lack of a reliable custodian to protect crypto assets was the impetus for the start of Coinbase custody last November.

• Right now Wall Street is going from Bashing Bit to Cryptocurrency Backer

Interest in cryptocurrency is on the rise, according to recent data from Autonomous Next Wall Street. There are currently 287 cryptocurrency hedge funds, compared to only 20 in 2016. Goldman Sachs has even opened a cryptocurrency trading desk.

Coinbase also launched Coinbase Ventures, an incubator fund for early-stage startups working in the cryptocurrency and blockchain space. Coinbase Ventures has already raised $15 billion in additional investments. His first investment was announced in Compound, a startup that allows you to borrow or lend cryptocurrency while earning an interest rate.

In early 2018, the company launched Coinbase Commerce, which allows merchants to accept major cryptocurrencies for payment. Another bitcoin startup was BitPlay, which recently raised $40 million in venture capital. 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 the process, it will reduce costs and create a decentralized financial solution.

• Regulatory Safety Remains Strong

Coinbase has come under a lot of criticism for limiting access to four cryptocurrencies. But as US regulators consider how to manage certain uses of the technology, they must tread carefully.

A concern for cryptocurrency exchanges like Coinbase is whether cryptocurrencies are securities subject to the jurisdiction of the Securities and Exchange Commission. Coinbase has been slow to add new coins since the SEC announced in March that it would impose security laws on all cryptocurrency exchanges.

The Wall Street Journal reported that Coinbase is meeting with SEC officials to register as a licensed broker and electronic trading venue. In such a scenario, it will be easier for Coinbase to support more coins and also comply with security regulations.

This year, the value of Bitcoin has risen, even surpassing an ounce of gold. There are also new cryptocurrencies in the market, which is even more surprising considering that the value of cryptocoins is more than a hundred billion. On the other hand, the longer-term cryptocurrency outlook is somewhat murky. There is controversy among its core developers about its lack of progress, which makes it less attractive as a long-term investment and payment system.

Bitcoin

Still the most popular, Bitcoin is the cryptocurrency that started it all. It is currently the largest market cap at around $41 billion and has been around for the past 8 years. Bitcoin is widely used all over the world and it is not easy to exploit the weakness of the way it works until now. As both a payment system and a store of value, Bitcoin allows users to easily receive and send bitcoins. The concept of blockchain is the foundation upon which Bitcoin is based. To understand what cryptocurrencies are, you need to understand the concept of blockchain.

Simply put, a blockchain is a distributed database that stores each network transaction as a chunk of data called a “block”. Each user has copies of the blockchain, so when Alice sends 1 bitcoin to Mark, everyone on the network knows.

Litecoin

Litecoin, an alternative to Bitcoin, seeks to solve many of the problems holding Bitcoin back. It is not as stable as Ethereum with its value mainly derived from solid user adoption. It should be noted that Charlie Lee, a former Google employee, leads Litecoin. It also practices transparency in what it does with Litecoin and is quite active on Twitter.

Litecoin was second fiddle to Bitcoin for a while, but in early 2017, things started to change. First, Litecoin was accepted by Coinbase along with Ethereum and Bitcoin. Next, Litecoin solved Bitcoin’s problem by adopting Segregated Witness technology. This allowed him to reduce transaction fees and do more. However, the deciding factor was that Charlie Lee decided to focus entirely on Litecoin and even left Coinbase, where he was the Director of Engineering, solely for Litecoin. For this reason, the price of Litecoin has risen in the last few months, the strongest factor of which is that it can be a real alternative to Bitcoin.

Ethereum

Vitalik Buterin, a superstar programmer, envisioned Ethereum that could do everything Bitcoin could. However, its purpose is primarily to be a platform for building decentralized applications. Blockchains are where the differences between the two lie. Basically, Bitcoin’s blockchain records a type of contract that states whether funds are transferred from one digital address to another. However, there is significant expansion with Ethereum because it has a more advanced scripting language and has a more complex, wider range of applications.

As developers began to see its better qualities, projects began to sprout on top of Ethereum. Through token crowd sales, some have even raised millions of dollars, a trend that still continues today. The fact that you can build cool things on the Ethereum platform makes it almost like the internet itself. This caused the price to skyrocket, so if you bought a hundred dollars worth of Ethereum earlier this year, it wouldn’t be worth nearly $3,000.

Monero

Monero aims to solve the issue of anonymous transactions. Even if this currency is perceived as a method for money laundering, Monero aims to change that. Basically, the difference between Monero and Bitcoin is that Bitcoin has a transparent blockchain where every transaction is open and recorded. With Bitcoin, anyone can see how and where money is being transferred. However, Bitcoin has somewhat imperfect anonymity. In contrast, Monero has an opaque rather than transparent transaction method. No one is sold on this method, but as some people love privacy for any purpose, Monero is here to stay.

Zcash

Unlike Monero, Zcash also aims to solve the problems that Bitcoin has. The difference is that, rather than being completely transparent, Monero is only partially public, blockchain-style. Zcash also aims to solve the problem of anonymous transactions. After all, not everyone likes to show off how much they spend on Star Wars memorabilia. So the bottom line is that there is indeed an audience and demand for this type of cryptocoin, although it’s hard to say which privacy-focused cryptocurrency will ultimately rise to the top of the heap.

Bancor

Bancor, also known as a “smart token”, is a next-generation cryptocurrency standard that can store multiple tokens. Basically, Bancor seeks to facilitate the trading, management and creation of tokens by increasing the level of liquidity and enabling automated market pricing. Bancor currently has a product on the front end that includes creating a wallet and smart token. The community also has features such as statistics, profiles and discussions. In short, the Bancor protocol enables the discovery of an internal pricing and liquidity mechanism for smart contract tokens through an innovative reserve mechanism. Through a smart contract, you can instantly liquidate or buy any token in Bancor’s reserve. With Bancor you can easily generate new cryptocoins. Now who wouldn’t want that?

EOS

EOS, another competitor to Ethereum, promises to solve Ethereum’s scaling problem with a more robust set of tools for building and running applications on the platform.

Thesis

Tezos, an alternative to Ethereum, can be developed consensually without much effort. This new blockchain is decentralized in the sense that it governs itself by creating a digital real community. It facilitates a mathematical technique called formal verification and has the security-enhancing features of the most financially sensitive smart contract. Definitely a great investment in the coming months.

Judgment

It is quite difficult to predict which Bitcoin will be the next superstar on the list. However, when it comes to cryptocurrencies, user adoption has always been one of the key success factors. Both Ethereum and Bitcoin have it, and while every cryptocurrency on the list has plenty of support from early adopters, some have yet to prove their staying power. Nevertheless, these are the ones to invest in and watch out for in the coming months.