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Most of the cryptocurrencies in the cryptocurrency market have fallen by more than 16% and the market has experienced another major correction as the bitcoin price has dropped by 14%.

The price of Bitcoin has dropped below $9,000 and is currently trading at $8,704. Many investors are now wondering about the bitcoin crash reasons.

The major cryptocurrencies like Bitcoin Cash, Stellar, Ripple and Cardano have also dropped by 12-16%. Analysts have shown their concern towards Ripple because it fell below the $1 mark for the second time in two weeks.

Bitcoin Crash Reasons

For many bitcoin investors, the mark of $10,000 is a psychological threshold. Similarly, the $1 mark indicates the same threshold for XRP or Ripple investors. We can clearly see that Ripple’s price has recovered after dropping below $1, whereas the XRP’s price has fallen below $1 twice within the past 2 weeks.

Other cryptocurrencies are also struggling to show signs of short-term recovery. Cardano and Bitcoin Cash have remained constant for weeks and have continued to maintain their positions as the 4th and 5th most valued cryptocurrencies in the market. In the past week, these two cryptocurrencies have dropped significantly, while the other cryptocurrencies have moved in the same trend. Over the last 24 hours, many major cryptocurrencies have suffered losses and also, there’s been a decline in the value of many virtual currencies.

The whole cryptocurrency market has fallen by almost $120 billion and the previous month had been a slump for the cryptocurrency market. Even after the major corrections, the market usually records gains in the mid-term, often on a monthly basis but based on the momentum indicators, daily trading volume, and overall interest, it looks dubious that we’d see a rise in the cryptocurrency market by a large margin in the short-term.

Well, it is a feasible period for many newcomers to enter the cryptocurrency market, but on the other hand, it is not actually the best time to invest in the market. Investment in the market would be an option if it shows some signs of recovery in the short-term, but at this time, the most important thing is to expand the assets and minimize the risks.

What Triggered the Crash?

We’ve seen that the cryptocurrency market was hit with a series of developments and negative news. Even some regions are still struggling to recover from trading ban FUD that was started by the government of South Korean and now, the Indian government.

The cryptocurrency market was typically composed of casula investors and speculators, who’ve been keeping their eyes on the short-term profits. However, the speculators left the market after the slump in the price of most cryptocurrencies. So apparently, the market needs to struggle in order to recover.

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Litcoin Price Drops by 4% as LitePay’s debit card launch Delays

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The price of Litecoin has seen a decline after LitePay’s debit card launch, which was scrubbed at the last minute and delayed indefinitely.

Litecoin Price Drops By 4%:

The cryptocurrency market has sustained to shake off the crash that it has experienced this weekend, and most of the large-cap cryptocurrencies have seen strong gains against the US dollar.

The cryptocurrency market index has increased by almost 7%, while Litecoin has seen a decline in its price by almost 4%. At this very moment, the price of Litecoin is $212, which shows that this cryptocurrency has seen a single-day decline of 4% and has the market cap of $11.7 billion. The huge chunk of Litecoin trading volume is focused on OKEx, which accounts for more than 31% of all LTC volume. Especially, KRW pairs, which frequently spike on altcoin recovery, contain a comparatively small amount of Litecoin trading at this time.

litecoin price drops

The current decline in the price of Litecoin appears to be related to the planned launch of LitePay (fintech startup), which was planned to take place on 26th February, but was partially postponed at the last minute and delayed indeterminately.

According to a report, LitePay is intended to offer a solution based on LTC payments that will make it quite simple for traders to accept Litecoin. This service will also issue a debit card, which will be LTC-funded, letting the users to circuitously spend their coins at almost any business.

The statement that LitePay would be launched on 26th February, led to a momentous Litecoin price rally. Though, the company also sent an email to its users just ahead of the planned launch, notifying them that an essential factor of the firm’s business model which is the “LTC-funded debit card” had been postponed indeterminately due to the antagonistic activities by card issuers towards crypto communities.

It is also said by LitPay, that it will open trader’s registration as planned, however, the indeterminate delay on the debit card service of it, caught lots of users by unexpectedly and have likely contributed to the bad performance of Litcoin today.

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Buy Bitcoin Anonymously – A Beginner’s Guide To Making Anonymous Transactions

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When making an online transaction, several people like to stay anonymous for various reasons. And to achieve anonymity, they tend to use Bitcoin – a peer to peer, decentralized, digital currency.

It is often said about Bitcoin that it provides complete anonymity – which is not true. The Bitcoin transactions are not completely anonymous. They are made through Bitcoin exchanges. And the exchanges involved in a transaction may request you to provide your personal information, such as email address, a photo of yours, government ID, etc. and by using this information, they can trace and keep track of all your Bitcoin transactions.

(Learn about what are the top Bitcoin exchanges to trade coins)

To sort this out, we are going to discuss here some simple methods that will help you make anonymous transactions. Read carefully.

Stay Anonymous – Buy Bitcoin with Cash:

Wondering how to buy Bitcoin anonymously? Use cash! Yes, this is one of the simplest methods to buy Bitcoin anonymously. However, cash is not the only option – there are some other methods too, and we are going to discuss three of the most common ones here.

Buy Bitcoin Through ATM:

The ATMs give you complete anonymity to buy Bitcoin through cash. The machines don’t require any personal information or something else that a third party can trace. All you have to do is to go to your nearest ATM and make the transaction.

To buy the coins, all you have to do is enter your Bitcoin address and the number of coins you wish to buy. If you don’t have an address, just specify that you don’t have one and the machine will automatically generate a paper address for you.

Later on, using that address, you can import the private key and transfer your bitcoins to PayPal, or wherever you like.

Buy Through Local Bitcoin:

Another way to buy Bitcoin anonymously is Local Bitcoins. It’s a way of buying cryptocurrency through cash and in person. Through Local Bitcoins, you can find someone who is willing to sell bitcoins in exchange for cash in or near your area.

In order to use the service, you will need to sign up to their website. There is no documentation involved, so the process is completely untraceable.

Use Your Prepaid Card to Buy Bitcoin:

Prepaid credit card is another option to stay anonymous. The card is easily available at any supermarket or a convince store. Once you have the card, you can use it to buy the cryptocurrency without having to provide any personal information.

Some Methods That Are Just Partially Anonymous:

If you don’t have access to the above-mentioned methods, you can use the ones that are partially anonymous. These methods don’t require you to provide any ID. However, a phone number is still needed to enjoy the service.

Let’s take a look at some of them down below:

Wall of Coins:

A peer to peer Bitcoin exchange which only requires your phone number to use the service. Wall of coins currently operates only in Latvia, US, Argentina, Canada, Poland, Philippines, and Germany.

BitQuick:

Acts like an escrow between a buyer and a seller.  BitQuick takes the cryptocurrency from a seller and instructs the buyer to deposit cash into the seller’s account. Once the cash is deposited, the coins are released.

BitQuick also requires your phone number for its services.

Conclusion:

These are some ways to trade Bitcoin with complete/partial anonymity. If you are looking to buy coins without being traced, it will solve most of your problems.

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Bitcoin in Business – What Role Bitcoin May Play in B2B Community

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What Role Bitcoin May Play in B2B Community

Since the introduction in 2009, Bitcoin has been on an incredible rise. The value is always going up, and so is the speculation about BTC’s future.

At the time of writing, Bitcoin had already gone past the $2500 mark – and the trend is still expected to continue. Incredible! Isn’t it?

Considering bitcoin’s popularity, it is clear as rain that this currency is surely going to play a huge role in the B2B (Business to Business) community in future. However, the question is; what role will it play and how will bitcoin affect the B2B community worldwide?

Anyone with the slightest of the knowledge of business community would know that the volume of B2B transactions is way too higher than the volume of P2P (Person to Person) transactions.

Moreover, bitcoin in business has all the potential and tech to replace traditional payment systems – wire transfer being the most common one. In terms of speed, wire transfer is quite slow. The transfer between two countries may take up to a week; which, in business terms, is a waste.

Another traditional payment method used in the business community is ACH (Automated Clearing House). The method is cheaper but slower than the wire transfer, so it needs replacing too.

On the other hand, the client, as well as the merchant prefer instant Bitcoin payments and is a perfect fit for it. The crypto can be used to send/receive payments within a short period of time which may range from one to a couple of hours.

After reading all that, one might wonder: “if Bitcoin is instant and convenient, what’s stopping it from breaking into the Bitcoin B2B community?” It’s the acceptability and lack of usage. Bitcoin payments can only work if both parties are willing to use it – and considering the risks associated with this currency, not many are ready to accept bitcoin as a payment method.

However, if the business community decides to go with bitcoin, here are some benefits that they can enjoy:

Speed:

Compared to conventional payment methods, Bitcoin is super-fast. The ability to complete international transactions within a few seconds/minutes can solve the speed issues.

Cost:

Low transaction cost is another advantage of Bitcoin. Where other methods cost up to 10-40 USD, transactions through Bitcoin only cost a few cents.

Ubiquity:

The majority of the adult population relies on services like Money Gram or the Western Union for money transfer. Services like these follow a set of rules and restrictions imposed by the government; which greatly affects one’s ability to do business.

However, Bitcoin can solve the issue as it is regulated by a third party to impose restrictions on users. It ultimately provides users with more freedom and makes the transfer process simple. Anyone with a regular PC and access to the internet connection can transfer the coins to whichever part of the world they want.

These are some of the pros that Bitcoin brings with it for the business community. However, all is not that simple. Bitcoin adoption in B2B community can also bring about some harms with it – security and price volatility being the most common ones in Bitcoin community.

Security:

One of the biggest issues with Bitcoin is that the security is the responsibility of the individual making payments. For example, if someone is sending a certain number of bitcoins to someone else, the first thing they will need to make sure is to send it to the right address. A slight mistake and the coins are gone forever.

Another issue is that your computer at which bitcoins are stored must not have any spyware and other suspicious programs installed on it. It compromises the security of the bitcoins.

Volatility:

Another issue with Bitcoin is high volatility. The value of Bitcoin changes in a matter of minutes. With such instability, it’s almost impossible for the business community to adopt Bitcoin payments.

Conclusion:

Although Bitcoin is the most popular form of cryptocurrency and allows instant transfers, there some issues with it – stopping it from a wider adoption. Once these issues are dealt with, there is no doubt that bitcoin will rule the business world.

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Bitcoin Advantages – How Bitcoin Can Benefit New Users?

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Bitcoin Advantages

The majority of people is not familiar with the concept of Bitcoin. They think of it as an online scam tool that criminals use to steal money; which is not true. It is a peer to peer, a digital currency which is independent of any sort of third-party influence.

There are several advantages of using Bitcoin and those with the experience of Bitcoin transactions are fully aware of how to capitalize on this cryptocurrency. However, if you are new to the concept, you will need to go in depth and know how it can benefit you.

Benefits of Bitcoin:

Bitcoin Advantages for New Users – Easy to Open a Bitcoin Wallet Address:

Opening a Bitcoin Wallet Address, also known as “wallet”, is pretty straight forward. No credit check ID, citizenship papers, age requirements or passport are needed to open the account. Since there are no age restrictions, anyone can open a Bitcoin account, even if it means a 10-year old kid.

Want to learn more about Bitcoin wallet? Read our post on how to make a Bitcoin wallet.

No Need for Bank Approval to Launch Your Business Idea:

Starting new business is a difficult financial task as you will be required to have a bank loan or credit check. But with Bitcoin, launching a new business is not a problem anymore.

All you need is a QR code. Once you have it, post it on a social media platform and get support for your next business idea.

The idea may include offering services, a product or something valuable in exchange for Bitcoin.

Quick Access to The Rest of Digital Currencies/Altcoins:

Digital currency is a vast world and Bitcoin is just a small part of it. The other part is altcoins in which hundreds of millions are invested each year. To access the Altcoin market, you will need to have Bitcoin as it is to digital currency what US dollar is to traditional currency worldwide.

Before you move ahead, don’t forget to read what are some alternative currencies to Bitcoin.

Bitcoin IPOs:

Bitcoin IPOs are becoming a new financing option in the world of Bitcoin. The users can offer bonds, stock, and IPOs and buy/sell shares of their companies without the need of any established stock exchange.

The Cryptocurrency Has Numerous Advantages as Compared to Traditional Currency:

Bitcoin can do many things that dollar can’t. For example, it offers family wallets with pre-set spending limit which allows your kids to shop only at certain stores and at certain times. Moreover, it gives the owners the option to program digital currency for different parameters which are not possible in fiat currency.

Bitcoins Are Independent:

If you don’t like being watched or controlled by your government or third party, then trading in Bitcoin is the best option for you.

Bitcoin is more like a technology.  A technology with code and encryption keys. The technology is not controlled by any government or central bank. The only person who controls Bitcoin is the one who owns it.

Conclusion:

These are some advantages of Bitcoin for new users. The currency is relatively new and still, needs plenty of improvement. However, with the kind of structure it has and the rapidly growing usage, the currency is going to make a great impact on future markets.

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