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After a series of ups and downs, bitcoin’s price went to its top. However, it plunged to less than half of that value later. The unexpected changes are now compared to the dot-com bubble and are highlighting the speculative nature of investing in cryptocurrency.

The price of bitcoin fell below $10,000 for the first, on December 1. At one point, it fell below $9,300 on one exchange. The price later rose back to almost $12,000, however, the investors and economists are still not sure how long the price will stay there. It is also said that the recent skim was due to the fear of crackdowns in the cryptocurrency markets.

bitcoin price volatility

South Korea has suggested a ban on the trading of cryptocurrency, although no plans are settled yet. Also, same news has been reported about China.

Bitcoin is a decentralized digital currency, as it is the largest and well-popular digital currency, that is globally bought and sold in exchanges.

According to Timothy Lee (senior reporter at Ars Technica), it is not based on dollars. The value of bitcoin floats against other cryptocurrencies, in the same way the euro and dollar glide against each other. Users say that bitcoin has got a very effective system for authenticating transactions, as it is based on a revolutionary technology.

Bitcoin users also point out that the currency is not tied to government’s whims and according to them, it’s a good thing. Recently the price dropped, and that may not be a good thing for those investors who are trying to figure out what crash actually means for the cryptocurrency’s future.

bitcoin price volatility

Recently many cryptocurrencies have shown the same swipes. According to David Kotok (Cumberland Advisors chairman and chief investment officer), almost 20 years ago, the technology and the new internet stocks accomplished valuation of $7 trillion, just because of speculation. The prices of shares used to be very high and after they collapsed, investors got badly miffed. And apparently, the same thing is going to happen with these cryptocurrencies.

Same rise and fall in the price of bitcoin was seen by the investors in December.  After China announced that it was banning all the banks that were trading cryptocurrencies, bitcoin fell by 40 percent just within days after hitting a record price of almost $1,150.

There’ve been dramatic ups and downs in cryptocurrency’s price last year. Bitcoin had the value around $900 at the beginning of 2017, however, its value got tripled within few months. According to Kotok, cryptocurrencies are highly speculative and investing money in cryptocurrencies is a speculative thing to do.  There’s a chance that you may make a profit, but Kotok has seen many people who invested their money into bitcoin and now they’re having loads of trouble in getting their cash back when they try to sell it.

According to some analysts, the cryptocurrency is trying to find an impermanent price floor, but according to a CNBC report, Citigroup analysts think that the price of bitcoin would plunge again to half of its current value. According to Ars Technica’s Lee, it’s still going to be unpredictable. She thinks it’ll go more up and then it’ll crash again. So, no one knows how far down it’ll decline.

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Top 7 Tips to Secure Your Bitcoin Wallet

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Secure Your Bitcoin Wallet

If you are a Bitcoin user, you would know that how important a Bitcoin wallet is. It is used to store all your Bitcoin assets and make transactions with other users.

Due to its significance, hackers, con artists, and thieves are always after your wallet. They develop different techniques to get into your wallet and steal your coins.

Most bitcoin users nowadays lack the knowledge as to how to keep their wallets from these attacks. As a result, they end up losing their assets. And since there is no way to track these tricksters, once you lose your coins, consider them gone for good.

In this post, we are going to discuss the most useful ways to protect your wallet, and hence the coins.

Check out our guide on what are the safest Bitcoin wallets to use to be more secure.

Bitcoin Wallet Protection Tips:

  1. Never use it on a smartphone: Smartphones are prone to hacking and theft. They can easily be hacked through the apps we download or even the mobile camera. So, if you want to protect the bitcoin wallet, stop trading it through smartphones.
  1. Versatile Bitcoin client: It hides users’ IP address and changes their address with each transaction. It also hides your privacy in public protocols, making it less vulnerable to third-party attacks.
  1. Identity protection: Avoid giving away your information on social platforms and try to keep your wallet key only to yourself.
  1. Encryption: Since your wallet is stored on virtual sites, it’s necessary to protect it with a strong password. If you are struggling to create a strong password, DESlock+ can help you create it and encrypt your bitcoin wallets from theft.
  1. Backup Your Wallet: Keep backups of your wallet. The information stored in the wallet is what all your bitcoin transactions are based on. Losing it without having a backup would mean that the information is gone forever. (Learn how to backup a Bitcoin wallet)
  1. Escrow service: Bitcoin transactions are irreversible and involve interactions with untrusted parties. In situations like this “Bitcoin Escrow Service” comes in handy. What happens here is that the buyer sends bitcoins to the Escrow service and the seller sends the product across to the buyer. After receiving the product, the buyer gives green signal to the escrow agent that he can make payment to the seller. The escrow service is considered to be one of the safest and error proof methods of bitcoin transactions. (Here are some of the best Bitcoin escrow services you might want to use)
  1. Multi-signature addresses: This method is extremely useful, especially when multiple users are using the same wallet. Multi-signature addresses prevent the misuse of wallet by an anonymous user. It requires signatures of all users, which helps to inform the signers that a transaction is being made.

Conclusion:

These are some important tips to protect your wallet against cyber-attacks. In conclusion, don’t use it smartphones, don’t publicize your keys, use strong passwords, always have a backup, use escrow service and multi-signature system.

Remember, a Bitcoin wallet address is the most important aspect of your Bitcoin venture. Its security must be on top of your priority list. And to make sure it’s perfectly secured, follow the tips that are discussed in this article.

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BEST VPN FOR DARK WEB

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The Dark Web

The dark web is basically a concealed portion of the world wide web that can be accessed only using TOR or any other anonymous network such as Project Freenet. People use these mediums in order to access services, products, and content that cannot be accessible on the normal web. You can find videos, music, pictures, books and various other illegal items here. A very well-known dark web marketplace that goes by the name of Silk Road, has everything you can think of.

Related: Read more about TOR

Now, when you use TOR it is recommended that you use a VPN and route your traffic through it.  What happens is that your ISP is unable to find out if you are accessing the Dark web and even if your IP address happens to leak due to some security flaw, it is not your actual IP address but of the VPN server you are routing your connection through.

All in all, a VPN is that extra layer of security you need to avoid any feds banging on your door at 4 AM.

However, not all VPN service providers are genuine and could land you in trouble. Here are the safest options you could go for:

NordVPN:

 

 

With NordVPN, you can be assured that your anonymity remains no matter what. It does not keep any logs so there are no chances of any data leakage or exposure online. Along with this, it has a peer-to-peer friendly VPN service and you can use up to 6 devices simultaneously. Bitcoin is accepted here and NordVPN operates from the Panama.

Besides a few glitches in the performance and variations in the speed at peak hours, there aren’t many drawbacks of this.

 

Perfect Privacy:

The headquarters of Perfect Privacy’s servers are located in New Zealand. They ensure that no logs are stored to avoid any risks in the future. Forget data breaches as Perfect Privacy is ready to put its company at stake for your privacy. Also, it doesn’t require any third-party tools, which decreases any chances of issues. It even provides you server-based-Ad and malware filters to ensure you maintain a secure browsing experience.

However, one setback is that it takes quite some time to set it up initially.

 

Torguard:

Similar to a fellow VPN service provider, Torguard also operates from the United States. But they’re known to have privacy as their main aim which means they would even consider relocating if it were ever necessary. Torguard as well does not keep any logs which is essential for safe browsing of the dark web.

Also, Torguard has an impressive amount of servers located worldwide making it a tough competitor.

 

ExpressVPN:

ExpressVPN allows you to conduct any peer-to-peer activities while ensuring that no logs are kept. It’s also known for its fast downloading speed, which makes it so much easier to browse the dark web.

The only drawback is that you can use only two devices at a time and you have to separately log in to each device.

 

IPVanish:

Don’t be alarmed that IPVanish is located in the United States as this does not make it unsafe as a VPN option. Similarly, it accepts Bitcoin as well. No logs are stored and the OpenVPNsecurity protocol along with the 256-bit AES encryption allows you to browse the web without any issues.

A drawback is that only two devices can be used simultaneously.

 

The Choice is Yours:

We’ve outlined the top 5 VPN service providers that include all the specifications for safe and secure web browsing. It is your choice to experiment with whatever that seems suitable for you as the five companies mentioned above have you covered!

Let us know in the comments section below if you try any of these out. Also, check out this list of Darknet marketplaces you can visit with the help of the above-mentioned VPN service providers.

 

Story Credits: vpncomparison.org

Image Credits: vpnguru.com

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Bitcoin vs E-money – Everything you are looking for is here

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Bitcoin vs E-money E-money

In earlier days, the concept of money used to be a physical substance, such as gold and silver. Some ancient cultures used living things as a form of money – cattle were one of the oldest forms of money.

However, the modern world is becoming more technology centered. Ever since the introduction of the internet, everything, from space to schools and shopping centers is dependent on the internet, and even online transactions have suddenly become a THING! More and more people are starting to make online trades, as it gives them the ease to purchase any desired item without having to leave the comfort of their bedroom.

Many of these purchases are often made with e-money or Bitcoin – the most widely used form of digital currency.

The currency first came into circulation in 2009. During that short time span, Bitcoin was able to spark a lot of attention and worldwide interest. As a result, many merchants are now starting to accept Bitcoin payments for their services.

However, despite all the talk about how people nowadays keep themselves updated with the latest technological innovations, many still seem to struggle when it comes to differentiating between Bitcoin and e-money.

In this article, we’ve outlined how E-money and Bitcoin are different from each other. Let us begin.

How are they different?

Electronic Money aka e-money and Bitcoin are two systems for making payments that are digital in nature. Besides that, nothing is common between the two.

Electronic money is a mechanism designed to interact with traditional currency such as Euros and Dollars. Whereas, Bitcoin is an independent cryptocurrency with its developers and users having complete control over it.

Some anonymous programmers using the pseudonym, Satoshi Nakamoto, launched Bitcoin in 2009. It’s a digital file that consists every transaction that has ever happened in the network in its ledger, aka, block chain.

Bitcoins are not like fiat money, they are mined using computer power of high-tech computers in a distributed global network of volunteer “miners”.

The money balance recorded electronically on a stored-value card is electronic money. Unlike Bitcoin, e-money is under the regulations and controlling of the Government central banking system. Banks and customers would have public-key encryption keys. Public-key encryption keys come in pairs. Only the owner knows the private key whereas the public key is available to everyone.

In comparison, Bitcoin is strictly limited to Internet connection but E-money just requires access to electronic devices like mobile phones and an agent network. Also, e-money is equal to the amount of fiat money in exchange for electronic form whereas, Bitcoin has no possibility of reaching the real world in the form of a bill.

Example of a system supporting E-money

M-PESA is a mobile phone money transfer system that had launched in Kenya in 2007. It starts with converting fiat money into an equal e-balance, by only entering the recipient’s mobile number and the transferred amount. The issuer confirms the transaction by sending an SMS to the recipient. The benefit of this method is to eliminate the interference of banks which makes it so popular and successful in Kenya.

e-money

 

 

 

 

 

Conclusion:

E-money and Bitcoin have their pros and cons but it is solely the responsibility of the user on how they handle their earnings. If more and more people shift from paper money to virtual currencies, this could irreversibly change our lives and social interactions.

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How to Buy Bitcoin In 2017

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How to Buy Bitcoin

Buying Bitcoin is simple and painless. All you need is a digital wallet as, without it, it’s impossible to buy and store Bitcoin.

A Bitcoin wallet is used for the same purpose as a traditional bank account for storing fiat currency.

Once you have the wallet, you will need to follow a simple process in order to buy the coins. Here, we have discussed how to buy bitcoins. So read carefully.

Buying Bitcoin – Getting Started:

There is a large number of brokers, exchanges, sellers and wallet providers, etc. selling Bitcoin. However, not all of them are reliable. Some are just there to steal your money.

To avoid theft, you should always look for well reputed and renowned names to make the purchase.

The Bitcoin exchanges require the users to provide their personal information – which may also include your photo and a copy of ID – to prevent theft.

Once your account is functional, you are ready to buy bitcoins instantly.

Buying Bitcoin with Debit/Card Instantly:

Buying bitcoins via debit/credit card is one of the easiest approaches out there. However, due to the complex transaction process, the fees can be high.

As a bitcoin buyer, you will come across numerous companies offering their services, but only a few of them are trustworthy.

Down below is a list of most trusted names that accept credit/debit cards and sell instant bitcoins.

Coinbase:

With the presence in over 30 countries, Coinbase is the largest bitcoin broker in the world.

Coinbase offers instant buy option, but to buy the coins instantly, you will need to provide your identity proof and bank card.

Coinbase users are normally categorized into two levels: level 1 users and level 2 users.

Level 1 users are the fully verified users and can buy up to $1k worth of bitcoin per week.

While level 2 users can only buy up to $100 worth of bitcoin per week.

Moreover, Coinbase only charges 3.99% in transaction fees which are pretty low compared to other exchanges.

Find out more about how to buy bitcoins via Coinbase safely right here.

CoinMama:

  • Offers instant bitcoins to debit/credit card users
  • Charges 5% in transaction fees and particularly good for those who buy in bulk.
  • Offers special packages to verified users as they can buy up to $5k worth of bitcoins per day and up to $20k per month.

BitPanda:

BitPanda is an Austrian exchange and is one of the most renowned across Europe.

The features of BitPanda include:

  • Instant bitcoin purchase through credit/debit card
  • Low fees. Just around 3-4%.
  • The buyers are required to go through a strict verification process.

A downside of BitPanda is that the fees are not mentioned on their site. If a user wants to know the fees, he must register an order first.

Some Other Ways to Buy Bitcoin:

Buyers who don’t have credit/debit card can also buy bitcoins through LocalBitcoins.com. All you have to do is enter your nearest area and arrange to meet up with a seller. However, make sure your meetup is in a public place to avoid any potential harm that the seller may possess for you.

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