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According to Tom Lee (co-founder and head of research at Fundstrat Global Advisors), the price of Bitcoin will hit $91,000 by March 2020. This prediction by Lee was based on a chart that shows the performance of Bitcoin after the slumps that it has seen in the past. Even though there’ve been many bitcoin future predictions since its creation, but Tom Lee’s prediction holds an important place in the crypto-world.

bitcoin future predictions

Can this prediction affect Bitcoin’s users?

No doubt, this prediction is going to excite many investors, and especially those who bought this top-cryptocurrency when it had the worth of $20,000.  The whole nation is under the influence of Bitcoin future predictions. A lot of risky things have been done by the people to jump on the Bitcoin bandwagon but unfortunately, this enthusiasm will not lose out on the cryptocurrency market as it has trapped investors in scams as well.

Not so long, a report said that Twitter was about to ban bitcoin advertisements after several credulous victims were caught in the recent scam.  On the other hand, the same thing was done by some other websites, as they also announced a ban on Bitcoin and ICO advertisements.

Following are the websites that are considering a ICO ads and Bitcoin.

  • Facebook
  • Google

How did Tom Lee predict Bitcoin’s price?

To predict the 2020 price of Bitcoin, Lee used an average of the percentage. The chart is based on a logarithmic scale and just because of its basis, as it’s divergent to the traditional linear-based graph, the ups and downs in the price of Bitcoin are not that dissimilar. The price of Bitcoin once fell to $3000 and since then, Lee has been predicting high-prices for this top-cryptocurrency.

Lee stated in July 2017 that the price of Bitcoin would hit the worth of $55,000 by 2022, and in January 2018, Lee said that by the end of this year, the price of Bitcoin would hit the value $25,000.

This year, at the beginning of March, Lee released “Bitcoin Misery Index”, which is defined as a “contrarian index’ and allows investors to understand how depressed Bitcoin holders are at the current price of Bitcoin right now.

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Selling of bitcoin

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Bitcoin selling is not that much simple as you buying bitcoin. But we are here to guide you to cash out your digital currency. When you are mentally prepared to sell your bitcoin, you have two options in front of you selling bitcoin online and selling bitcoin in person. You have to decide that which option you are going to choose because both options have advantages and disadvantages. Here we will discuss both options to clear your difficulty.

Online selling bitcoin

This is the most common option of trading your bitcoin. Which include the three ways of selling your bitcoins.

  1. Direct trade
  2. Exchange trade
  3. Peer to peer trading marketplaces

 

Direct trade

and then put an offer of sale. Sites alert you when a buyer will available and you can contact the buyer by using a website to complete your trade. Bitbargain and bootylicious are quite different so you have some patience.

Exchange trade

In this way, you also have to verify yourself. You may not be going to trade with an individual but with an exchange. Where exchanges act intermediary who keeps’s everyone’s funds. You just need to place a sell order, amount and type of currency you want to sell, and per unit price you want to sell. As soon as buy order places, an exchange will complete the transaction and your desired currency will be credited to your account. The downside is if you are selling bitcoin for fiat currencies, you have to withdraw those funds to the bank. These are some difficulties you can face in future If you’ll make the wrong decision with bitcoins. So be careful while you are purchasing or selling the bitcoin. Circle, Kraken, and Bitstamp are some examples of crypto to fiat currency.

On the other side, you can use the currency directly in shops where bitcoin directly use or a bitcoin shop rarely accept lite coin and dogecoin. that’s the rare case if someone wants to use pure currency exchange to change bitcoin for another currency.

For exchange, BTC e-charges a flat 0.2%. but on the other hand, you must store on exchange for your future.

Selling of bitcoin

  • Peer-to-peer trading

Trading in which site like brawler and purse combine the two or more groups of people to competes for their specific issues. In this process, the first group combines the group of people who wants to buy goods from sites which don’t accept digital currency directly. They want to be able to use bitcoin. And in second, there is that type of people who buy bitcoin with a credit or debit card. The marketplace combines the people of same requirements.

  1. Emi place her amazon wish list on marketplace
  2. Hash want to buy bitcoin by using his credit/debit card on the same rate place by Emi. So, he’ll accept the trade by using marketplace platform. And things were delivered to Emily’s place.
  3. Once the good delivered, hash’s bitcoin are released and arrive in his wallet.

In this system, hash pays an amount for service but easily able to attain bitcoin via bank card.

Withdrawing from your own funds

The worldwide way of moving money is international wire transfer. Most of the online bitcoin markets use this way also. But for the ease of the people, another way of transferring your money is single European payment areas. This SEPA was created to make international transfer between the member if European union more efficiently. e-support these payments.

Transfer take a long time and heavy charges of services. If you are going to open an account for this purpose you’ll face heavy refusal from banks. HSBC directly refused this guide accounts for bitcoin trading.

Your identification is necessary

Your identification is must when you are going to buying or selling the bitcoin. While you going to buy a bitcoin, there will be a small process of your identification but when you are going to sell your bitcoin, you must face different difficulties. So, while buying the bitcoin, you must complete your identification process. When you first enter, the site makes your identification clear by uploading at least two utility bills, your pic, id card to make your selling process easier.

When you are going to sell your bitcoins, you have to be aware of several things,

  1. You can use mobile phone application for the calculation of the rates.
  2. Worldwide meetup of bitcoins is existing. Where people easily trade the bitcoin and cryptocurrencies.
  3. Many use the same price as prominent bitcoin exchange or bitcoin desk.
  4. For the sake to cover costs, some seller applies the percentage on the top of the rate.
  5. Prices vary from country to country, so it will help you in local fluctuations.
  6. Keep yourself safe, so create your meeting in public places.
  7. There is a site, where you are can easily advertise yourself as a bitcoin seller.

Good luck

 

 

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Checking your current balance using any Bitcoin wallet address

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Bitcoin Wallet

A bitcoin wallet is basically a vault for your private keys. After installation, a bitcoin address will be generated, which you can disclose to your friends in order to carry out a transaction. A Bitcoin address is generated at random and is just a sequence of numbers and letters. You can generate a new bitcoin address for each transaction. All of the confirmed transactions are added to the blockchain.

The private key is used to sign the transactions in order to prove that it has come from its rightful wallet owner. Just like a Bitcoin address, it is also a combination of alphanumerics, but this cannot be disclosed to anyone. To know more about Bitcoin wallets, go here.

 

To ensure that your bitcoin address has received the funds or just to view the previous transaction history, you can use the Blockchain explorer.

A Bitcoin Blockchain Explorer is a web tool that lets you view information about blocks, different addresses and details on when transactions have taken place.

All you need to do is paste your address into the search box, and the website will display all the transactions taken place linked with that bitcoin address.

You can even search multiple addresses at once. This will display the transaction history of each of those addresses, as well as the overall balance of bitcoins. You can separately view each transaction’s details- date and time, input, output and miner fee.

bitcoin wallet address

 

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Why Is Bitcoin Gaining Worldwide Popularity?

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Bitcoin Gaining Worldwide Popularity

Bitcoin is a digital currency that first came in markets in 2009. The start was slow, but the whole business world moving to the internet has helped it gain worldwide recognition at a rapid speed. There are numerous reasons behind its growing popularity and all of them cannot be compiled in one post. Some of the primary reasons as to why Bitcoin is suddenly gaining worldwide recognition are discussed below.

Reasons Behind Bitcoin’s Popularity:

Bitcoin Is Stored on Virtual Wallet:

The bitcoin wallet serves the same purpose as a bank account for the traditional money. Once a user has successfully mined coins, they are stored in a virtual wallet – also known as Bitcoin wallet address. Each user is allocated a wallet to store coins. The wallet is then used to send or receive coins.

Bitcoins Are Becoming Mainstream:

During its early days, Bitcoin worldwide popularity was considered to be some kind of internet oddity. But this not the case anymore.

With several leading banks, business corporations and retail stores accepting it as a method of payment; the trend amongst the general public is shifting and the number of people buying/selling their favorite items is increasing each day.

Bitcoin Is Immune to Counterfeiting:

The currency is autonomous to third party influence and is created purely through cryptographic techniques. The code used in Bitcoin generation is impossible to replicate, which ultimately makes it immune to counterfeiting.

In addition to cryptographic features, gain Bitcoin gives its user complete anonymity. The anonymity, as a result, gives the users the freedom to transfer coins across the internet without regulators, censor or nosey authorities.

A network of Miners:

The backbone of this entire system is the network of miners. A miner is a high-end computer user who supplies the Bitcoin network with the processing power. The power is then used to maintain a tally of all transactions.

Maintaining a transparent tally is essential as it helps prevent fraud. The miners, in return, are awarded brand new bitcoins for their services.

Acceptance as A Form of Payment on Global Scale:

Bitcoin has often caused an argument over the reliability of its design. For years, the Cryptographers argued whether the digital currency is well-designed and can it be used to buy anything?

Luckily, Bitcoin is erasing all the doubts over its authenticity. Now you can buy a car, real estate, toys for your kids, yacht, and nearly everything using bitcoins.

Running a small/large business? Learn how to accept Bitcoin payments here.

Trades Through Bitcoin Are the Easiest and Cheapest:

Another reason as to why Bitcoin is gaining worldwide recognition is its simple and easy transfer. Whether you want to send coins to a friend next door or someone living in distant parts of the globe, all it takes is a few minutes to complete the transaction. And since the currency does not need to go through any clearing house (government, The central bank, Visa card, master card, etc.) the transactions are cheaper than those of traditional currency.

These are some of the reasons as to why Bitcoin is gaining popularity throughout the world. In conclusion, the currency is easy and cheaper in terms of making transactions, cannot be counterfeited and is accepted on a worldwide scale. Considering all these factors, Bitcoin is only going to hit the new heights in the future.

Read our guide on what are the best Bitcoin exchanges to safely transact the coins.

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Last Time to Buy Bitcoin as “Unreliable Sources” from China Spook Markets

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A Chinese journalist published a new article saying that China is banning ICOs and exchanges. The news was a Google translated article from a Chinese Journalist who claimed to have spoken to some official. Since there is no confirmation from a government official and no formal statement of any sort has been released, we can say that this news is possibly fake.
As we all know, the last time China banned Bitcoin, they took it back just a few months after.

However, this news might just be doing everyone a favor as this is probably the last time you can buy bitcoin at such levels.

Don’t Forget…

Bitcoin will survive with or without China, they’ve changed their mind before and they can do it again.

 

News Credits: cointelegraph.com

Image Credits: bitcoinist.com

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Best Way to Buy Bitcoin with Bank Accounts

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Bitcoin is for the unbanked – and those who’d like to get unbanked. Transferring bitcoins to bank account is not viable, but buying is. There are several exchanges that allow the feature of buying bitcoin with the bank account. The most renowned ones being:

CoinBase:

CoinBase is the world’s biggest Bitcoin broker. In the United States, you can purchase bitcoins with an associated bank account by means of ACH bank transfer. In Europe, you can purchase with your bank account by means of SEPA exchange. Buys made with ACH take 5 days for the coins to be conveyed, while SEPA buys take under two days. CoinBase charges 1.49% fee on all exchanges. Americans may include a Visa or Mastercard as reinforcement to unlock instant payments by means of bank transfer.

BitStamp:

Bitstamp is one of the world’s biggest Bitcoin exchanges. It makes it simple for Europeans to buy bulks of bitcoins quickly with SEPA bank exchange. Practically anybody on the planet can utilize their bank account to send a wire exchange to Bitstamp. Fees may apply.

Kraken:

Kraken is the world’s biggest euro-designated Bitcoin exchange based on daily trading volume. It underpins bank transfers from US, European, Canadian, British, and Japanese clients and deposits can be made through SEPA exchange and international bank transfers.

So, these are the top three Bitcoin exchanges which allow their clients to buy bitcoins with the bank account. based on your location, choose one that you are most convenient with.

Tags: best place to buy bitcoins, buy bitcoin with bank account

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