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Bitcoin’s back at it again with a major boost crossing $4,000.

Image credits: Bitcoin.com

 

It’s really become a routine for bitcoin owners to wake up to a different price almost every day.

The price of bitcoin has been a bit stationery ever since China regulators announced a ban on ICOs and shut down of BTCChina by October. It tumbled down to $3,700 from $4,000 and remained in that range for the past two weeks.

But, now with the price coming around $4,050 and rising, it’s not too early to say that Bitcoin is back in the game. There hasn’t been an instance where bitcoin has failed to make a come-back and this was definitely one of those times.

So, what’s prompted this latest rally? It’s possible that the speculation of China’s exchange shut down is just temporary, especially since it was never formally announced. But regardless, this just proves that Bitcoin can survive without China and is resistant to the activities of a country.

Next stop, $5,000?

The bitcoin rally we experienced on Wednesday has assured several Bitcoin analysts and traders that if the current upward descent is maintained, we might see a $5,000 hit soon.

A well-known bitcoin trader and investor, Tuur Demeester, also distinguished that if the trading volume in Japan, South Korea, Europe and the US sustains, we could be in for another strong rally in the near future.

News Credits: steemit.com

Tags: Bitcoin news

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Don’t be fooled by a Bitcoin Scam

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Don’t be fooled by a Bitcoin Scam

With the rise in the value of Bitcoin, there has been an increase in the number of scams involving the digital currency on social media and websites.

These scams are becoming more prominent since they’re being shared very frequently over the internet. So much so, the ZeroFOX found that the number of Bitcoin scam URLs was shared over 126 million times on social media. It adds, though, that two specific URLs were shared more than 40 million times and two others, which were shared over 10 million times.

To prevent you from suffering a loss or becoming a victim to one of these sites, here are some ways to spot Bitcoin scams:

  • Malware Downloads:

Some websites often promise to give “free coins” to the user if they download a malware app. This app then completely messes up the user’s computer. Several websites even ask the user to fill out fake bitcoin surveys and are used to distribute malware.We advise you to stay cautious when encountering any such URL that is either shortened or not secured with HTTPS connection.

  • Bitcoin phishing impersonators:

Phishing is basically getting a user to enter all their personal information on a malicious site.

A phishing website will have the user enter their private key to see if it exists in their database. Once the private key is phished, the scammer spends from the user’s bitcoin wallet address.

  • Bitcoin-flipping scams:

These scams usually ask users to pay a start-up fee in exchange for money or promise to double their legitimate bitcoin investment overnight. However, their end of the bargain is never held up and the bitcoins are lost immediately.

  • Bitcoin pyramid schemes:

These scams are low initial investments that are multiplied by signing up additional members. Soon enough, when a large group has joined the scheme, the scammer walks away with the investment and the pyramid collapses.

How Can You Protect Yourself?

Just because it’s a digital currency does not mean you can acquire wealth overnight. Even though many of these scams promise to make you rich by just downloading an app or answering a survey.

  • Do not trust anyone that claims to provide you with bitcoins overnight. These sort of bitcoin scams run rampant on social media sites and digital channels.
  • Avoid URLs that advertise bitcoin offers on social media.
  • Be overcautious when dealing with social media accounts of legitimate bitcoin brokers or trading platforms as they are usually impersonators.
  • Do not engage in financial transactions, via direct message on social websites.
  • Be smart when you trust anyone with your personal details. Do not leak out anything that could cause you a loss later on.

If you have already been fooled, then don’t expect to see your bitcoins again. All you can do is learn from your mistakes and make others aware of such situations as well.

Tags: legit bitcoin investment sites

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Social Media Platforms Banned Crypto-Related Ads- Did It Affect the Cryptocurrency Market?

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Recently, major social media sites, including Twitter, Facebook, and Instagram have banned ICOs (Initial Coin Offerings) and cryptocurrency advertisements, whereas Google is going to introduce the same regulations from June 2018. The series of bans have damaged the crypto-market, certainly. However, few experts claim that the restriction might lead to the industry’s legitimization.

social media sites

Ban on Cryptocurrency Advertisements

Facebook

Facebook announced it in a blog post, on 3rd January, that it will be banning advertisements that use deceptive promotional techniques, specifically mentioning the cryptocurrencies as well as ICOs.

Certainly, this move by Facebook seemed to agree with the US SEC’s (Securities and Exchange Commission) public announcement about the crypto-related investments and ICO. In the statement, Jay Clayton (SEC chairman) advised that the trend of deception and manipulation is growing day-by-day in the ICO and cryptocurrency markets due to their mounting popularity. However, Clayton also alerted investors that no ICOs were registered with the SEC.

Google

Soon after the reports from crypto advertisers related to the suspensions and account deletion of Adwords started to circulate, on 14th March, the company announced that all crypto-related advertisements will be banned by it, no matter whether they are wallets, exchanges, and ICOs. Google also announced that it will pull the crypto-mining extensions from its Chrome Web Store as well.

Twitter

The rumours about twitter banning all crypto-related advertisements were confirmed on 26th March as the social media giant twitter banned advertising only for ICOs and token sales. According to the policy, the ban was imposed on wallet services and cryptocurrency exchanges, unless they are public firms or are registered on major stock exchanges.

Snapchat

A report related to Snap Inc. (the company behind Snapchat) was also confirmed that since February, the company has been silently banning ads for token sales, however, its future plans related to rest of the cryptocurrency ads are unclear.

Did the Bans Affect Cryptocurrency Market?

  • After the announcement of Facebook about crypto-related bans, Bitcoin collapsed from $10,000 mark to $6,914 however, it managed to come back.
  • When Google announced its plans to ban crypto and ICO ads, the price of Bitcoin dropped below $8,000and loss 9% of its value.

After Twitter’s announcement to ban crypto-related ads, Bitcoin fell below $7500 on March 29, which shows that the bans have affected the overall cryptocurrency market.

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Overstock & Square Shareholders Are Also Hurt by A Plunge in Bitcoin’s Prices

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Bitcoin Shareholders
Bitcoin’s price has plunged near $10,000 on Tuesday. Companies that have tied their whole wealth to cryptocurrency are also thrashed along with their investors. On Tuesday, Payments Processor Square, which announced the plans to allow for some Bitcoin selling and buying, lost almost $90 million market value. Twitter CEO Jack Dorsey’s company also ended at a regular trading value, $15.1 billion.

 

In the meanwhile, the e-commerce company that allows customers to pay in cryptocurrency, fell by 11%. It ended the day with a loss of almost $200 million and $1.8 billion market capitalization. According to Bloomberg’s report, China is also working on its regulations for app-based and other online cryptocurrency services that are similar to its exchanges.

Square and Overstock aren’t the only companies that experienced these disastrous results. In a past few months, some smaller companies have also announced plans to move into the blockchain space. In some cases, they use the word “blockchain” to get some of the sufficient investor interest for anything even vaguely related to cyrptocurrencies and they’ve also tied themselves to the volatility in cryptocurrency prices.

On Tuesday, shares of Riot Blockchain, once a + firm dubbed Bioptix, shed 17% and Chanticleer, an owner of some Hooters locations, shed 4%.

Eastman Kodak, best known for their cameras, fell 8%. At the end of the month, the company has announced plans to offer a cryptocurrency under the name of KodakCoin, initially sending shares up by 60% on the day of the announcement.

Shares of Long Blockchain (Long Island Iced Tea) shed 2%. On Tuesday, the one-time drink maker declared his plans to merge with a U.K.-based firm, Stater Blockchain, which focuses on developing and organizing globally accessible blockchain technology solutions in the financial markets.

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What is cryptocurrency trading

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Foreign exchange of the digital currencies is known as the crypto-trading. its means you are free to trade different crypto-coins for USD and BTC. Basically, trading is another to entered in crypto-world. It doesn’t need any investment, mining hardware or extra fees.

Why do we need to trade bitcoin and not forex?

To start earning money by trading, you need half an hour. In addition, scroll down and open your account with forex. It will take few weeks until they send you to sign up form and access code as well. It will take some time until you transfer your fund from bank account to forex negotiator.

Similarly, it is quite easy to leave crypto-trading. you just need to transfer bitcoin through an exchange

and its done.

Smaller spreads

One enormous advantage of the bitcoin is low spreads. In addition, the spread is a term which defines the difference between ask and bid price of the market marker.

Smaller spreads mean, when you exchange, you have ended approximately no loss. On the conflicting forex (btw. Other than Eur/USD have even advanced spreads), after your exchange, you made a loss of 0.018%, which isn’t irrelevant. So, do not be unable to remember to check your transactions at your exchange.

Crypto-exchange margin

The concept of leverage and margin trading is possible on forex as on crypto-exchange.

Margin trading allows you to borrow buying/selling power from peer to peer funding providers, but you need to allocate some funds first. Which won’t be reachable until you return the loaning fund.

Leverage at crypto-exchange

A possibility to trade an amount which you don’t have at your clearance. Usually, exchange offers a leverage of 1:10. It means you get 10 dollars buying power. In short, higher risk provides you the possibilities of higher profit.

Getting started trading cryptocurrencies

First, you need a wallet, you will able to buy cryptocurrencies like bitcoin or ethereum and protect them. A number of Crypto-exchange has free wallets with trade ability. But a suggestion is, don’t put your all bitcoin at single place. In this way, you will minimize the hacked or scammed risk. And, one more thing, not forgets to activate your 2FA authentication.

Contact for difference

Bitcoin and ethereum’s CFDs offers to trade without any coin. Basically, CFDs is a contract between purchasers and vendor.  Where seller will pay the amount of crypto asset and the price at the end of the contract to the consumer. These certificates are mostly used on goods.

Pros and cons of using CFDs

Two benefits of using CFDs are;

Trust

CFD platforms have been funded for many years ago. They are actually controlled by the governments.

Simplicity

You are trading with the cryptocurrency or with fiat currency the entire process is same and simple.

 

 

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Facts about Blockchain Funding by Chinese Investment Group

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News about generating blockchain funds by a Chinese company are in the news right now. But before discussing about that news, we must have a watch on the history and importance of blockchain. Designed in 2008, blockchain is the backbone of Bitcoin and all the other cryptocurrencies. Blockchain system works by taking in digital transactions and storing them in pieces of digital information called blocks. These blocks are in turn linked together to form ledgers. In case of blockchain, such ledger can be defined as a list of digital transactions. Each time you wish to change the data inside a blockchain database, the software adds a block to the chain containing all the information required to verify the changes. The block will have a unique identifier (a hash) and can be encrypted depending on the underlying software use-case for it.

blockchain funds

Importance of Blockchain Technology in other industries

Blockchain has also a serious impact on various other industries. Even IBM has started work on their own blockchain projects. The main reason for it is that blockchain has played an important role in maximizing the technology’s capabilities, such as autonomous records and easy to access contracts. Even the Pharmaceutical giants are planning to use blockchain to prevent frauds and secure their transaction records. Now let’s come to the point and elaborate why blockchain funds have become so important for China to show active participation in it.

Why China is interested in Blockchain Funding?

Due to such an important role of blockchain in digital transactions, especially cryptocurrency, it has been reported that a government-led investment firm known as Investment Association of China (IAC) is going to establish a funding center to strengthen the blockchain development in China.

This news leaked out when a document related to that entity was circulated by IAC on the internet. IAC reports directly to China’s National Development and Reform Commission.

Later, vice chairman of the IAC, Liu Ren confirmed the document’s authenticity. He further explained that IAC had to take an initiative in this regard due to the growing importance and popularity of blockchain in cryptomarket. That’s why their association decided to provide fundings and maintained standards for the good of cryptocurrency industry.

However, he did not disclose that whether the funding will be provided from the state or private sectors.

This new blockchain funding center will also seek further working with overseas blockchain projects to generate further investment options. It will also provide consultation services to those persons or firms that are interested in blockchain investment. In short, Chinese government is quite serious in its efforts to develop investment plans for the domestic as well as foreign blockchain industry. Chinese Ministry of Industry and Information Technology recently announced that it will soon launch a committee in order to set national standards for blockchain technology.

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