Bitcoin is a decentralized crypto money that offers pseudonymity to its clients. In spite of the fact that a Bitcoin has no intrinsic value, it’s turning into an inexorably popular type of digital cash, drawing in venture capitalist attention, from Winklevoss twins to Fred Wilson of Union Square Ventures.
There is a restricted supply of Bitcoins, 21 million to be precise, with 11 million currently available for use. While Bitcoin enables you to keep your identity concealed, the blockchain goes about as an open record of each Bitcoin exchange. Bitcoins can maintain a strategic distance from central banking and global cash wiring charges.
There are a couple of various approaches to obtain Bitcoins. You can mine a Bitcoin, but it becomes difficult when the amount of Bitcoin mining increases. You can likewise set up a wallet by means of Blockchain.info, or through a safe Bitcoin customer like CoinBase, and utilize destinations like BitInstant to load it.
For a simple way to calculate the estimation of your Bitcoin in fiat, check out this Bitcoin exchange calculator designed by BTCwonder.
There are generally two transfer types – SEPA (Single Euro Payment Area) and ACH (Automated Clearinghouse).
As obvious from the names, SEPA transfer mode is for those living in European countries, while ACH is only for the US citizens.
The list of companies that provide these transfer options includes:
The largest Bitcoin broker in the world. The US citizens can buy bitcoins with a connected bank account via ACH bank transfer. On the other hand, those living in Europe are required to connect their bank accounts via SEPA transfer.
The coin delivery time of tow SEPA and ACH slightly differs from each other. ACH transfer takes 5 days while SEPA only 2 days to deliver the coins.
Coinbase charges a flat fee of 1.49% on all transactions.
Pros of Going to Coinbase To Buy Coins:
High buying limits
Ease to understand process
“Instant buy” option for credit/debit card users
Cons of Using Coinbase:
Slow delivery. May take up to 5 days to complete
Low privacy as it may track the record of bitcoin transactions you make
BitPanda only accepts Online, SEPA and SOFORT bank transfer. BitPanda is named amongst the most trustworthy bitcoin brokers and charge lower fees from credit/debit card users.
A downside of BitPanda is that the service charges are included in the bitcoin buying price and not mentioned on the site.
GDAX offers ACH transfer for US residents and SEPA for those living in EU and UK. It is one of the cheapest Bitcoin brokers out there and sometimes charges zero fees from Bitcoin buyers.
However, there are a couple of downsides of using GDAX, such as poor interface and closure of account in case the bitcoins are transferred to a legally suspicious site.
Similar to GADX, CEX also provides its US users with ACH transfer option while those living in Europe and the UK the SEPA transfer.
Available in several countries
The trading fee is extremely low. 0.2% to be precise
Trustworthy bitcoins broker
The verification process requires you to provide personal information, along with a photo. The whole process may take a while to complete.
Available only in the US. The citizens can buy coins through ACH transfer.
Pros of Gemini:
Through instant deposit, you can quickly buy the coins
Cons of Using Gemini Services:
Not available in all 50 states in the US
Somewhat confusing to new users
These are some top Bitcoin exchanges for the US and European citizens. The list doesn’t end there. There are many more trusted brokers such as Coinfloor, Bittylicious, Confinity, etc.
Before making the purchase, dig more about these brokers and choose one that perfectly matches your requirements.
The price of bitcoin has finally surpassed $8,500 and all major coins are also struggling to hit their all-time-highs, which shows that the cryptocurrency market is finally seeing a recovery. The market has been seeing its longest downfall since December and the cryptocurrency market cap altogether dropped by $18 billion recently, however, things are now getting rebounded once again.
Bitcoin Price still struggles to surpass $9,000:
On Tuesday, the price of Bitcoin made another push and was trading at $9,000, which demonstrated the significance of its mark but after not so long, it got stuck at $8,999 and started to flip once again. This decline in the price of Bitcoin continued till the early morning hours throughout Tuesday and BTC ultimately experienced a slight bump by hitting a low of $8,313. Bitcoin is valued above $8,800 at this very moment, which means that it has got the market cap of $148 billion with 1% upsurge in its worth, but still bitcoin struggles to surpass the $9000 mark.
Upsurge in Ethereum Price:
The price of Ethereum has seen an upsurge once again, as it was declined by 4% on Tuesday, but at the present time, it’s priced at $864. Ethereum has now increased by 1.6%, which translates that it has the market cap of $84 billion at this time. Despite the fact that it has declined recently, the looming introduction of CryptoKitties in China has to be monitored by the investors of Ethereum as it could provide the price of Ethereum with a very little bounce.
100 largest cryptocurrencies of the market have managed to stand against the US dollar which ended up in the favour of altcoin markets, in which few cryptocurrencies that showed a single-day gain didn’t rank in the market cap top 10, whereas the top cryptocurrency bitcoin, struggles to achieve its all-time-highs.
The price of Ripple has seen a 1.3% decline, which indicates that the investors are becoming more proficient at extricating information that is helpful for the Ripple company. In the meantime, the price of Bitcoin Cash is currently trading at $1,282 and has seen 3.60% upsurge.
The sixth one on the ranking, Cardano has borne a 0.58% upsurge in its value and is now trading at $0.37. A serious challenge is now being faced by the Cardano’s ADA token from EOS, which has the 9th largest market cap, $6 billion.
The price of Litecoin has seen 15% upsurge in the value which means it’s currently valued at $182, while NEO which is on number 8th in the ranking is priced at $113 with a 0.75% upsurge.
IOTA and Stellar have seen a 3.8% and 6.7% upsurge in the price respectively and their prices are valued at $1.8 and $0.5 individually.
Before using Bitcoin for any bigger transaction make sure to what you have to know and what are some best ways to secure your Bitcoin wallet. Always keep in mind it’s your responsibility to decide about your wallet carefully. Adopt some better practices to protect your money. A Bitcoin wallet is a collection of some private keys and used to make transactions on the Bitcoin network.
Some best Bitcoin wallets 2017 are:
1- BitCoin Core:
Bitcoin Core is developed to choose which blockchain have valid transactions and the users only accept the transactions for that blockchain. It’s those users who keep Bitcoin decentralized. They run individually their personal Bitcoin Core full nodes and each full node individually follows the same rule to decide which blockchain is valid.
Some Bitcoin Core features are:
Better User Interface
Support the Network
Armory is a full featured and most secure means available for the users and organizations to generate and store Private Keys. The Armory team is experienced in private key and cryptography ceremonies. Armory established cold storage and distributed multi-signature. The Bitcoin cold storage is a system for storing Bitcoin safely on a fully air-gapped offline computer. At Armory, we attempt to improve constantly the best Bitcoin wallet with some extra security features.
3- Mycelium Wallet:
With the Mycelium Wallet, you can send and receive Bitcoin by using your mobile phone. The Supreme cold storage functionality enables you to secure your funds 100% until you spend them.
Features of Mycelium Wallet are:
Provide 100% control over your Private-Key.
No blockchain download, just install and run in seconds.
Manage your multiple accounts and never recycle addresses.
Ultra-fast connection to a Bitcoin network with the help of super nodes.
Read only addresses and Private-Key imported for secure cold-storage integration.
Protected your wallet with a PIN.
Support for BIP38 Keys.
Compatible with other Bitcoin services.
MultiBit enables your Bitcoin wallet to make easy and fast transactions. After the installation process, a wizard guides you through effective steps to create your wallet and its backup. In just a few moments, you’ll be ready to join Bitcoin economy and now you can handle your funds and wallets. Your wallet and its backup resides encrypted on your personal computer and never with a third party.
MultiBit adds an extra security layer for your bitcoins when used with KeepKey. KeepKey is USB device which stores and secures your Bitcoin.
Xapo Wallet offers a way to handle your funds when or where you want with just the click of a button. You can also manage your funds by sending an email and swipe of your Xapo Debit Card. Xapo iOS is your mobile Bitcoin wallet that combines industry-leading and convenience security to handle your bitcoins and sending currency to your family and friends. Simply scan a QR or wallet address or enter a name, or email to instantly send money worldwide.
Features of Xapo Wallet are:
Fully insured Bitcoin storage in the market.
Send and receive Bitcoin in just two clicks.
By sharing Xapo on social networks you can earn Bits.
Zero network transaction fees.
Anyone can get the best for digital and traditional currency. You can get an online banking account, cheap money transfer, worldwide issued Bitcoin debit cards, and much more in just one place.
Features of Wirex are:
Secure and Convenient: Secured with multi-signature and two-factor authentication.
Easy Access: Manage all your accounts, past transactions, and debit cards by using your smart phone 24/7.
Total Freedom: Send and receive currency from 130+ countries and with almost no limits.
Generally, Bitcoin wallets have just a single Private-Key to make your Bitcoin susceptible to misplaced or theft. The multi-signature technology of BitGo offers three keys for your wallet. BitGo does not have the facility to access your Bitcoin as other Bitcoin companies have. BitGo only holds one key which not enough for the transaction on your behalf.
If only a single key is compromised, your Bitcoin cannot be stolen. This makes BitGo almost hack proof. BitGo required 2F authentications and use high-level security measure to make a full protection of your Bitcoin.
GreenAddress is a safer Bitcoin wallet which provides you full control and it doesn’t compromise your privacy. Our pre-transaction 2-factor authentications and multi-signature wallet empower you with a supreme control over your transactions. GreenAddress never keep your Private-Keys, not even encrypted. We also make it fast to view and transfer your funds.
CoinBase is the world-famous source to buy and sell Bitcoin. It is CoinBase is also a popular Bitcoin and Ethereum wallet. CoinBase provides the facility to buy, store, use, and accept Bitcoin and Ethereum securely. You can experience a best digital currency managing on the mobile phone.
Some additional features of Coinbase wallet are:
Send and receive Bitcoin.
Track the Price of Bitcoin anywhere with the help of Bitcoin price charts, Bitcoin price alerts, and Bitcoin price ticker.
You can check transaction history, balance, and transaction details of all your accounts.
You can send Bitcoin and Ether via email.
Send via QR code with zero transaction fees.
You can set a password to secure the mobile app.
You can remotely inactivate your phone’s access if it’s stolen or lost.
Historical and real-time Bitcoin and Ether price charts.
Members of the Bitcoin community are always looking for ways to buy and sell products in exchange for bitcoins. Fortunately, several sites make that possible by offering secure and safe platforms for sellers and automatic escrow protection for buyers who bid to purchase their desired items on sale.
The following auction solutions have gotten a lot of attention over the past couple of years:
OpenBazaar is a top Bitcoin auction site for everyone looking to purchase or sell all sorts of items in one place. Although it is believed to be a normal shop on the internet, it does offer some auction functions as well. There is no limit as to what items can be sold on the platform. Also, OpenBazaar’s peer-to-peer nature means there is no company or middleman that can remove or block listings, charge fees, or hold money. By accepting bitcoin payments, sellers are opening up to their offering to the rest of the world.
Another Bitcoin trading platform. Bitify was launched in September 2013 and was first known as CrptoThift. It uses an auction system to sell items. It also offers escrow services to the buyers. The buyers have an option to use the escrow service for 1% fee. This means that Bitify acts as a guardian over the customer funds until the transaction is fully settled. You can browse numerous posted items for sales such as E-gift cards, software installers, online gaming accounts and more. Although, it offers more of digital items rather than physical goods.
This platform has been around the longest and sells items super-fast. Buyers can find reasonable deals on electronic items and much more, whereas sellers can benefit from selling their unwanted products. There have been thousands of feedbacks on this platform and have been nothing but positive. So, make sure to drop by this site if you’re ever looking to sell any items. Glyde provides insurance on every package, so in the rare event an item is lost in the mail you will still be compensated for the sale. It is the best bitcoin trading platform to buy and sell with bitcoins.
To help build and enhance your reputation, opt for websites having built-in feedback systems. Also, make deals with already established buyers where you send them the item first and then wait for them to send bitcoins after receiving the goods.
REMEMBER! Your buyer should have an established reputation so you don’t suffer a loss. There could be cases where you send the item to the buyer and they never send the payment.
If you’re looking for a new luxury apartment, you might be surprised to know that now you can actually purchase one with bitcoins.
Recently, Dubai had announced an apartment project where Bitcoin owners can purchase these chic apartments.
Well, Turkey isn’t far behind as the owner of the MiaVita Beytepe project in Ankara, Turkey just announced that their very own luxury apartments are available for purchase using the digital currency.
Erdal Daldaban, the project manager firm owner, had enthusiastically said:
“We decided to make sales via Bitcoin, which has recently attracted the attention of Turkish investors with its recent value route, considering that we could also attract the attention of our customers who appreciate their investments like this.”
Daldaban says this is the reasonable next step:
“Bitcoin and digital money has become an element that can no longer be ignored by the global economy.”
This is mainly because of its current value in the market and the increase in its adoption around the world.
During last week, a home in Austin, Texas was bought using bitcoin news and a house in London was put up for sale on a minimum price of 500 bitcoins.