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Bitcoin is a decentralized, peer to peer cryptocurrency which is used to make anonymous transactions without leaving behind any traces. Bitcoin is the first cryptocurrency to gain this much public attention and is being largely accepted by merchants as a form of payment all around the world.

In terms of usage, Bitcoin investment is no different from traditional currency. The users can buy, sell items through online as well as trade goods/services in physical stores. However, not everything is same. There are several factors that differentiate Bitcoin from traditional currency.

Let’s take a look at some of the major ways in which Bitcoin is different from paper money.

How Is Bitcoin Different from Traditional Money?

  1. Unlike fiat money, bitcoin is decentralized. There is no clearing house or authority (Government, Visa Network, MasterCard, Central Bank, etc.) to regulate the flow of cryptocurrency.
  2. Bitcoin network is peer to peer and is managed by users/miners around the world.
  3. The transaction fees are much lower because the money is transferred without going through a clearing house.
  4. The coins are earned by a process called Bitcoin mining. The miners around the world assemble blocks and are given mathematical problems to solve using Bitcoin algorithms. Those who are able to solve them correctly are rewarded with bitcoins.
  5. All Bitcoin transactions are stored in a public ledger called “Blockchain”. Anyone can visit this ledger to verify a transaction. This openness makes the cryptocurrency more transparent and reduces the possibility of any kind of fraudulent activity and double spending of the same coin. (Find out more on what is Blockchain and how does it work here)
  6. The currency can be obtained via Bitcoin exchanges or mining.
  7. For now, just handful of merchants on the web and in physical stores accept Bitcoin as a method of payment. However, the trend is increasing each day.
  8. A downside of bitcoins is that they are not insured by the government agencies which ultimately makes them irrecoverable if lost. If an owner somehow loses a hard drive or any other device in which the currency was stored, the coins are gone for good.

These are some of the facts about bitcoins that make them different from traditional currency. Now let’s go and look for the answer of” “is Bitcoin a good investment?”

Is Bitcoin A Good Investment:

Although bitcoins are gaining more acceptance and increasing in popularity each day, investing in Bitcoin is never considered a good idea. This because the currency is highly volatile and unpredictable.

For example, the Bitcoin price skyrocketed from $14 to $1200 and then dropped to $632 per BTC within a year. Such high instability in value makes Bitcoin a risky investment.

The best way to invest in bitcoins is to buying bitcoin with Paypal when they are being sold for less than $10 per BTC as this will give investors a larger margin of safety.

Tags: bitcoin investment sites, trusted bitcoin investment sites

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Bitcoin Mining – Everything You Need To Know Is Here

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The terms “Bitcoin mining” is used to describe the processing and confirmation of Bitcoin payments on the network. In Bitcoin mining, the information is distributed, validated and stored on blockchain – a digital ledger which is used to store the transactions made in cryptocurrency such as bitcoins.

The transaction process of Bitcoin is different from traditional transfers as there are no third parties – merchant accounts, issuing bank, acquiring bank – involved.

Who Can Participate In Bitcoin Mining?

Almost everyone with a regular PC can participate in Bitcoin mining. All you have to do is to run a specialized software and you are good to go. The Bitcoin mining software are compatible with all PCs and operating systems. In addition to running on regular PCs, some companies have developed specialized Bitcoin mining machines that can build blocks and process transactions in a quick and efficient manner.

Find out what our beginner’s guide has to say about how bitcoin works.

How Does Bitcoin Mining Work?

In Bitcoin mining, the participants are given mathematical problems and asked to assemble a block of outstanding transactions by solving those problems. In exchange, the miners get rewards for all of the transactions they process and receive fees for successfully validating those transactions.

In addition to those fees, the miners also receive an additional reward for each block they mine from the bitcoin blockchain.The reward was previously 25 bitcoins but it has now been decreased to 12.5 bitcoins (equivalent to $7,000) which are still pretty high.

Because the reward is so high, the completion of mining is also incredibly tough. Thousands of miners from all across the world compete to assemble the block as quickly as possible.

Here’s a fun fact for you: “The total power of competing for Bitcoin computers is 1000 times higher than the top 500 supercomputers in the world.

Is Bitcoin Mining Harmful for PCs?

A few years back, Bitcoin mining was not so mainstream and no dedicated hardware was built to support it. Moreover, the miners of past used to overuse their systems which often caused damages to PCs. However, the technology has advanced and various manufacturers are developing computers that are specifically designed to support Bitcoin mining; which has made the process safer than ever.

What Are The Benefits Of Bitcoin Mining?

There are several benefits of Bitcoin mining. The ones that top the list are:

  • Bitcoin mining is like creating money from nothing.
  • There is some cool hardware involved such as ASICs, FPGAs, and GPUs and Bitcoin mining gives you the opportunity to play around with them.
  • You compete with others which ultimately helps you create an efficient mining system
  • Bitcoin mining is considered to be less risky because the coins never devalue. in fact, the more people use this currency, the more it appreciates in worth.
  • Bitcoin mining is not a waste of time. It’s actually a hobby that pays something back.

These are some of the facts, benefits, and details of how Bitcoin mining works. The process is quite intriguing and if you are trying to make some extra cash, becoming a Bitcoin miner is never a bad option.

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Crypto-Market Rebounds At $426 Billion, While Major Cryptocurrencies See Another Day in the Red

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Once again, major cryptocurrencies are struggling to maintain their surging momentum secured, on February 26. Bitcoin has dropped below the $10,000 mark again, while Ethereum is still struggling to surge above $900.

In the beginning of this year, bitcoin reached to its all-time low and throughout February, the top-cryptocurrency, which assess its dominance over the worldwide cryptocurrency market, drastically surged to around about 39%, as many cryptocurrencies in the crypto-market followed Bitcoin price trend. Bitcoin has performed a lot better than Ethereum and other major cryptocurrencies in the past month and has increased drastically after falling to $6,100, which makes it extremely volatile.

After the slump in January, experts were anticipating that the price of bitcoin would start to recover to its previous levels by the end of February. However, the top-cryptocurrency has sustained to move in between $9,000 – $11,000. Multiple traders have shown their concerns on this short-term performance of bitcoin, mainly because it has low volume.

CEO of Blockstream (blockchain development company) and a bitcoin expert, Adam Back, highlighted that while technical analysis is showing volatile future for bitcoin, the technical advances and fundamentals are pointing toward a positive future for bitcoin.

The largest cryptocurrency trading platform and bitcoin wallet platform, Coinbase, has announced the incorporation of Segregated Witness this week, which is basically a transaction flexibility and ascending solution, along with transaction batching, ensuing the implementation of SegWit by Bitfinex, which is another top cryptocurrency exchange.

The Coinbase team specified on 23rd February, that SegWit has been already turned out to 25% of customers, which surpasses more than 3 million users. He also highlighted the ability of “second-layer scaling solutions” such as; Lightning alNetwork. Coinbase wrote, that the latest technologies that require SegWit, like the Lightning Network, have the ability to drastically upsurge the utility of Bitcoin as a payment network and profit its customers. Coinbase currently has a keen full-time software engineer, who’s working on an open source contribution to the Lightning Network.

Back also mentioned Lightning, SegWit, and further capable privacy solutions as “Bulletproofs”, which are being dynamically developed by the developers of bitcoin in its open source community. While the whole cryptocurrency market is highly volatile in its upside and downside, its price trend will not precisely depict the extent of developments and upsurge in the user activity of most important cryptocurrencies like Bitcoin and Ethereum.

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What we Learnt from 5 Major Bitcoin Crashes

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September isn’t even over yet and bitcoin has already shown three different reactions. From starting off with a $5,000 hit, then falling by 40%, and then recovering back to the $4,000 mark by Monday morning.

This post is going to add more light to some of the major bitcoin crashes we’ve experienced regarding bitcoin. In the end, we might be able to come up with possible reasons as to why bitcoin is so volatile and what predictions can be made for it in the future.

April 2013 – The Meltdown:

Back in spring of 2013, Bitcoin experienced a ginormous drop from $233 to $67 overnight. Which is a 71% drop.

The crash took place right after the currency was experiencing a surge of media coverage which drove it to above $200. While the currency had never crossed $15 before 2013, the mainstream led it to a new height, only to watch it fall down to a double-digit again.

Bitcoin Crash in 2013:

The majority of 2013, Bitcoin’s value was around $120. But, the prices boosted ten-fold in the fall and Bitcoin hit a mark of $1,150 in November. Then the prices came tumbling down to lower than $500 by mid-December.

This price chase was actually because many investors were experimenting with bitcoin for the first time. Also, exchanges like Coinbase had a simple user interface which made it easier for users to buy bitcoin.


The Mt. Gox Tragedy of 2014:

Once again, Bitcoin was on a roll, making great gains again after the 2013 bubble pop situation when in February, the price fell from $867 to $439. This triggered a slow phase for bitcoin that went on till late 2016.

This crash took place after the operator of Mt. Gox announced the exchange had been hacked. They later revealed that around 850,000 bitcoins were stolen which would be worth around $3.5 billion today. Furthermore, this incident created major doubts about the security of this digital currency and is responsible for the low-lying value of bitcoin the past couple of years.


Bitcoin’s Big Break in 2017:

Bitcoin price history: Back in early January, bitcoin crossed the $1000 mark after years and began driving up exponentially. By June, the cryptocurrency had reached $3000 however, it fell right back and landed at $1,869 during mid-July.

With the increase in demand for bitcoin and number of transactions, people began to notice that the digital currency was getting slower. Especially with its developers not being able to agree on how to update the software. This raised the speculations of a possible “fork” to occur which would be producing two different versions of bitcoin. Thus, the market experienced a fall and when the fork took place in August and produced a rival currency, Bitcoin Cash, no long-term harm was made to bitcoin.

The Great China Chill:

Once the market had settled over the fork and activation of SegWit2x, bitcoin had made another massive jump to $5,000 during the beginning of September. Only to plunge back down 37% and dusting off over $30 billion from its total market cap, by September 15. Although, it’s already on the track to recovery as its prices climbed to $4000 three days later.

Well, this can be summed in one word as CHINA. While there were numerous rumors as to how cryptocurrency trading would be banned in China, a response was given soon after as BTCChina, its largest bitcoin exchange, announced that it would be ending trade this month.


Lessons Learned from the 5 Crashes:

The last 5 years have included some heart-wrenching falls and drops that confirms how volatile the cryptocurrency is. Regardless of the reason being a major hack or a government crackdown, bitcoin has always managed to bound back. This is assuring for all those tensed bitcoin buyers who are planning to hold onto bitcoin for the long run. Today, the digital currency market is a lot bigger and is proving to stick around so, it appears that bitcoin is very well, a safe bet.


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How to Buy Bitcoin with Bank Account/Transfer?

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Are you looking to buy bitcoin via bank transfer? Here is a list of companies that let you buy the cryptocurrency through these methods.

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:

  • Coinbase
  • BitPanda
  • GDAX
  • Gemini


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
  • High liquidity
  • 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. Pros:

  • Available in several countries
  • The trading fee is extremely low. 0.2% to be precise
  • Trustworthy bitcoins broker Cons:

  • The verification process requires you to provide personal information, along with a photo. The whole process may take a while to complete.
  • Lacks liquidity


Available only in the US. The citizens can buy coins through ACH transfer.

Pros of Gemini:

  • Trusted brokers
  • Through instant deposit, you can quickly buy the coins
  • Lower fees

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.

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Futures Contracts Hold Positive Impact On Bitcoin – Says Mark Cuban

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As covered by CCN, the CME Group, the $51 billion U.S.- based financial institution and the world’s biggest options exchange, is set to open bitcoin for trading by December 18 on its platform. As of late, the Chicago Board Options Exchange (CBOE) is also planning to list bitcoin futures contracts on its platform and Nasdaq Inc. next year.


As per Bloomberg, billionaire investor Mark Cuban says bitcoin futures exchanging on such exchanges will positively affect the leader digital currency. He expressed:


“It’s going to be interesting. The outcome of it is going to be positive as the transaction fees for bitcoin are relatively higher. If this manages to bring these costs lower, bitcoin market will be in for a huge boost.”


Naem Aslam, a market investigator at TF Global Markets in London, added to Cuban’s analysis, saying that exchange costs, including digital money trade fees and custody services charges, could decrease if bitcoin demand grows because of futures trading on these exchanges.


Cuban, the majority owner of the Dallas Mavericks and a star on the investing theme show “Shark Tank,” has in the past stated that in spite of being a bitcoiner, he trusted the market was in an air pocket. He later changed his conclusion on bitcoin, as he exhorted “true adventurers” to put 10% of their wealth in digital forms of money – Cuban himself has put resources into cryptographic hedge funds, in bitcoin, and in other digital currencies.


Tim Draper, another billionaire who’s gotten over $110 million from his bitcoin ventures, was likewise anxious to see bitcoin futures on these exchanges. In an email to Bloomberg he composed:


“Bitcoin is a currency and should be treated as such. It makes perfect sense that a currency should be able to be hedged.”


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