Michael Spencer, CEO of NEX Group Plc, a financial expert, sees bitcoin’s value achieving $20,000 before reversing steeply, joining the unit of financial pioneers who claim bitcoin is just a bubble.
Spencer revealed to Bloomberg TV’s Guy Johnson in London that he has no clue if bitcoin’s cost will twofold before it halves, yet said it could hit $20,000 “truly damn rapidly.”
Spencer admitted that digital forms of money are here to stay, but also said that bitcoin is just a bubble.
In July, Spencer said he lean towards Ripple and Ethereum to bitcoin and that he may present NEX trading platforms for cryptographic forms of money. The issue with any bubble, he stated, is that you don’t know whether it will double up before it halves.
Buyer markets usually hit a point where everybody is bullish, he stated, and he doesn’t think bitcoin has achieved this point. , acknowledging that bitcoin has wide energy, Spencer said there are signals that it isn’t an ideal time to put resources into it just because others are doing so.
However, He Gave Thumbs Up To Blockchain:
Spencer, in the same way as other bitcoin naysayers, is optimistic about blockchain’s future, taking note of that it has enormous implications that reach out past the financial markets.
He said blockchain could be used to provide constant settlement of securities transactions.
The fact that an innovation has implication in numerous industries where it can enhance efficiencies does not mean the positively trending market “can’t move on a bit,” he stated, hinting bitcoin.
Spencer additionally addressed the unpredictability of stocks, Brexit, and other money-related themes. NEX Group’s offers tumbled before in November after the asserting economic situations were making challenges for its post-trade administrations and electronic trading.
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.
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.
- 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 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.
Theresa May, the unelected British prime minister has surprised as well as excited everyone simultaneously by calling a snap election.
“It was with reluctance that I decided the country needs this election, but it is with strong conviction that I say it is necessary to secure the strong and stable leadership the country needs to see us through Brexit and beyond,” May told the Reuters.
The surprise/excitement is there because no one expected an election as May had already firmly stated that there won’t be one.
The sudden U-turn has seen FTSE drop some 2.46%, taken the Pound to month’s highest and increased Bitcoin value by 1.50%. Great news for Bitcoin fanatics!
The outcome of the election is somewhat certain as May is 20 points ahead of Labour leader, Jeremy Corbyn, who is considered to be unelectable by the public.
The only candidate that could give Theresa tough time is the Liberal Democrats leader, Tim Farron. The party came to power in 2010 and got a severe punishment in 2015 due to raising student fees.
The major deciding factor in this election could be the Pro-EU stance of Jeremy. However, the Labour leader has been accused of lackluster Pro-EU campaigning before the referendum took place. This has led some voters believing that he is secretly Pro-Brexit.
Therefore, the only realistic choice for 48% anti-Brexit voters is Tim Farron. But it’s still early days to predict what the Liberal Democrats leader has to offer. Will he be willing to accept the referendum’s result and campaign on soft-Brexit? Only time will tell.
However, if he does so, it may very well cause the third political earth quack in just months.
Whatever the election outcome is going to be, the decision of Britain to leave must be upheld. Fingers crossed!
2018 has been a very dramatic period for blockchain and cryptocurrencies from the start. The crypto world has seen a nonstop slump in the price of Bitcoin and other altcoins, as most of the tokens traded below their ICO price, still there’s been no relent in the amount of money that was raised during this time.
Even with the institutional and political struggles that the cryptocurrency ecosystem faced, specifically paying attention to ICOs (Initial Coin Offerings), this steady rising trend raises curiosity.
Quality of ICOs As A Whole
LKI Consulting is a PR firm that has conducted few ICOs especially, in the last couple of months. The founder of LKI Consulting, Laura Kornelija Inamedinova believes that this ICO trend is linked to the upsurge in the quality of ICOs as a whole. Furthermore, Inamedinova explained how time has shown that these features are essential in order to have a successful ICO.
Even though the ICO market has rocketed and noted remarkable facts, still there is a number of projects that haven’t accomplished in attaining there “set out” goal, that makes them unsuccessful.
Why ICOs attract investors from outside the industry?
Founder of Cashaa, Kumar Gaurav believes that the industry must look ahead of the crowdfunding exercise which has been carried out by many projects at this time in terms of ICO. Gaurav’s company dismissed around $14 million of the $33 million that was raised in an ICO due to acquiescence reasons.
Gaurav identified a problem that ICOs attract investors from outside the industry who only take interest in their own profit and not in the technology. Similarly, there are plenty of beginners who are really interested; however, they just started to learn and might be frightened of the market’s volatility.
Gaurav identified another trend, that is the salvaging of investments inside the ecosystem which appears to expand the industry beyond its actual capability. He noted that most of the investors just try to sell older tokens and buy new ones.
Apparently, most of the ICO investors are just speculators for the short-term and this is something that makes it a little bit difficult for project developers and builders in executing their objectives, efficiently. It’s quite common these days to categorize an ICO as successful, depending just on the amount it raised through the crowdfunding process. To avoid being seen as a failure, companies began to set lower goals deliberately. Gaurav further explained that to find out what successful ICO is, we may also need to have a look at what will happen to the company after a year.
The majority of people is not familiar with the concept of Bitcoin. They think of it as an online scam tool that criminals use to steal money; which is not true. It is a peer to peer, a digital currency which is independent of any sort of third-party influence.
There are several advantages of using Bitcoin and those with the experience of Bitcoin transactions are fully aware of how to capitalize on this cryptocurrency. However, if you are new to the concept, you will need to go in depth and know how it can benefit you.
Benefits of Bitcoin:
Bitcoin Advantages for New Users – Easy to Open a Bitcoin Wallet Address:
Opening a Bitcoin Wallet Address, also known as “wallet”, is pretty straight forward. No credit check ID, citizenship papers, age requirements or passport are needed to open the account. Since there are no age restrictions, anyone can open a Bitcoin account, even if it means a 10-year old kid.
Want to learn more about Bitcoin wallet? Read our post on how to make a Bitcoin wallet.
No Need for Bank Approval to Launch Your Business Idea:
Starting new business is a difficult financial task as you will be required to have a bank loan or credit check. But with Bitcoin, launching a new business is not a problem anymore.
All you need is a QR code. Once you have it, post it on a social media platform and get support for your next business idea.
The idea may include offering services, a product or something valuable in exchange for Bitcoin.
Quick Access to The Rest of Digital Currencies/Altcoins:
Digital currency is a vast world and Bitcoin is just a small part of it. The other part is altcoins in which hundreds of millions are invested each year. To access the Altcoin market, you will need to have Bitcoin as it is to digital currency what US dollar is to traditional currency worldwide.
Before you move ahead, don’t forget to read what are some alternative currencies to Bitcoin.
Bitcoin IPOs are becoming a new financing option in the world of Bitcoin. The users can offer bonds, stock, and IPOs and buy/sell shares of their companies without the need of any established stock exchange.
The Cryptocurrency Has Numerous Advantages as Compared to Traditional Currency:
Bitcoin can do many things that dollar can’t. For example, it offers family wallets with pre-set spending limit which allows your kids to shop only at certain stores and at certain times. Moreover, it gives the owners the option to program digital currency for different parameters which are not possible in fiat currency.
Bitcoins Are Independent:
If you don’t like being watched or controlled by your government or third party, then trading in Bitcoin is the best option for you.
Bitcoin is more like a technology. A technology with code and encryption keys. The technology is not controlled by any government or central bank. The only person who controls Bitcoin is the one who owns it.
These are some advantages of Bitcoin for new users. The currency is relatively new and still, needs plenty of improvement. However, with the kind of structure it has and the rapidly growing usage, the currency is going to make a great impact on future markets.