The second-largest stock exchange of Germany, Börse Stuttgart is going to launch a crypto trading app by the end of this year. Sowa Labs, which is a subsidiary of Börse Stuttgart revealed the application on Friday, and said, the app would be available for use from September; also, the app will provide trading support for the following cryptocurrencies:
The official website of the app also says that more assets will be coming soon. The app is called “Bison,” and users will be allowed to download it for free. According to the developers of the app, Binson will not charge additional trading fees. Plus, the app’s prototype will be demoed in Stuttgart during a trade-show this week.
Crypto Trading App
The app is initially designed to offer easy means for investors so that they can gain exposure to the crypto markets. According to the Sowa Labs, the Bison app is going to be the first cryptocurrency trading app that is being supported by a stock exchange and will be the first one to be released by a German company as cryptocurrency stock exchange.
The managing director of Sowa Labs, Ulli Spankowski, said in a statement:
“Bison makes trading in digital currencies easy. It is the first crypto app in the world to have a traditional stock exchange behind it.”
Last year, the exchange developed Sowa Labs, in the month of December and took 100% of its interest in the Ulm-based startup. Even though the accurate figure hasn’t been known, some reports say that the price of the acquisition was in the millions of euros. The progress also shows the current instance of a traditional stock exchange going into the cryptocurrency trading game via subsidiary.
The operator of TMX (Canadian stock exchange company), announced last month that its very-own subsidiary had ‘struck a deal’ for setting up a cryptocurrency brokerage. The brokerage will focus on; bitcoin and ether and will be set to launch in the middle of 2018. The prototype for Bison was unveiled at Invest, which is a German finance and investment trade fair. Reports say, the German version of Bison is scheduled for release in autumn, and after it gets lauched, Börse Stuttgart will announce an English version of it.
What is Bitcoin?
Bitcoin is a digital currency and this world-wide payment system has been all over the news for several years now. Bitcoin was basically created as a reward for a process called mining and it can be exchanged for products and other currencies. Bitcoin was the first cryptocurrency but in 2009, it appeared for the first time from a developer named, Satoshi Nakamoto and all cryptocurrencies that were created after Bitcoin are called Altcoins.
Just because Bitcoin is completely digital and doesn’t really match to any of the existing fiat currency, it’s not really easy for a newcomer to understand what it is actually about. So, let’s find out how does Bitcoin work and what is it exactly about!
How does it Work?
As we already know that it is a digital currency, to understand how does Bitcoin work is going to be a little complex. Bitcoin is not a physical element like coins, the verification and value of each Bitcoin is provided by a global peer-to-peer network.
Bitcoin is conducted on a public ledger known as blockchain and because it’s transferred digitally, it automatically means that it exits only online. It has a monetary value just like gold and is also decentralized. You don’t need a bank to use it, because it’s not managed by a single person but rather a group of people called miners, who process its transactions
It’s miner’s responsibility to ensure that bitcoin transactions that are made by the users are legit and after that, all confirmed transactions are added to the blockchain. In this way, spendable balance can be calculated and new transactions can be verified. The veracity and the sequential order of the blockchain are obligated with cryptography.
You must’ve been confused about what exactly transaction is. It is basically a transfer of value between Bitcoin wallets that is also included in the blockchain. Bitcoin wallet stores the information that is essential for the transaction of bitcoins. It also has a private key which keeps a secret data and is used to sign transactions. It also provides a mathematical proof that they’ve actually come from the owner’s wallet. A plus point about “signature” is that it prevents the transaction from being changed by anyone else after it’s been issued. Each transaction is broadcasted between its users and it often gets confirmed by the network within the following 10 minutes, through a process known as mining.
Mining is a process in which records are kept through the use of computer processing power. It is a distributed consensus system that confirms the waiting transactions by adding them in the block chain. It protects the impartiality of the network, imposes a sequential disorder in the block chain and allows multiple computers to settle on the system’s state.
To get these transactions confirmed, they must have to be packed in a block that fits quite strict cryptographic rules that are going to be verified by the network. These rules also help in preventing previous blocks from being altered because by doing that, it would overturn all the subsequent blocks.
Mining can also make the equal of a competitive lottery that averts individuals from adding new blocks easily in the block chain and in this way, no individual can regulate what’s added in the block chain or swap parts of the blockchain to get back their own spends.
If you want to get involved in the top-cryptocurrency, make sure to do your research on how does bitcoin work. It can be a profitable and a thrilling investment, but just like other investments, it’s always better to look out for safety.
Image Credit : Steemit
We’re surrounded by all sorts of mysteries that are yet to be solved but, the biggest one yet is how the cryptocurrency king, Bitcoin, was created and why. Keeping that in mind, there have been various bitcoin conspiracy theories on the internet. Here are some of the ones that seem more legitimate than others.
JPMorgan Was The Reason Behind The MT. Gox Collapse
It’s a fact that organizations such as JPMorgan don’t see much profit in bitcoin but, they’re all in for the technology that lies behind it. Mt. Gox drove bitcoin’s value to higher limits, while JP Morgan composed a price crash by selling over 8000 coins to drive the price back down.
Parallelly, JPMorgan was funding anti-bitcoin articles teamed up with mainstream media firms. To tell you the truth, all these concepts, do sound quite reasonable, however, it seems unreal to think that such an institution would intentionally crash the bitcoin price.
Satoshi to Bitcoin Said To Be An AI
Has it ever occurred to you that Satoshi Nakamoto could be an artificial intelligence? Well, considering that the world has been on several hunts as to find out the persona behind the pseudonym that no one can actually think that it might be an AI created by a hidden government. While this theory does seem a little far off, it spurs up some really exciting discussions.
China Invented Bitcoin:
Many seem to believe that the Chinese created Bitcoin as to wipe out their dependence on the US dollar. While it is a fact that China has been working with Russia and others to create a payment system, it is doubtful they would create bitcoin to substitute the US Dollar.
Bitcoin Is A NSA Project:
This is a theory that has been quite popular on the web that how bitcoin was created as an experiment by the NSA. Claiming that Satoshi Nakamoto is actually a pseudonym behind the top-secret cryptocurrency project. Also, it is said that the NSA has access to the SHA-256 algorithm, which makes bitcoin a lot less secure than what it’s assumed to be.
Major Governments Partake In Bitcoins “Arms” Race:
In 2013, a conspiracy theory had risen from the Bitcointalk forums. A user came up with the concept that major governments like US and China were buying bitcoins in bulk for themselves. Let’s not forget both these governments had first opposed the cryptocurrency when it emerged, which makes this theory quite believable.
Tags: Satoshi to Bitcoin converter
Story Credits: themerkle.com
Image Credits: google.com
For new users, buying Bitcoin could be a little difficult. Especially, when the situation calls them to buy it instantly since the procedure is quite tricky. If you are one of the new users and looking for information on how to buy Bitcoin instantly, this is the perfect place to be.
Buying Bitcoin – The First Step:
The first and foremost thing needed is a Bitcoin wallet as it is used to store digital coins. The wallet works the same way as a bank account – it authorizes you to hold your Bitcoins safely and lets you send and receive the cryptocurrency.
Getting wallet is pretty simple. All you need is getting in touch with a Bitcoin wallet supplier and provide them with your email address. Once they have your email, it’s just a matter of few minutes before you eventually receive your wallet.
After getting your wallet, choose one of following three ways for an instant purchase.
Buying BTC Over the Counter/Face to Face:
The most effortless choice, especially if you live in a big city and don’t want to give away your identity.
There are various websites/p2p commercial centers on the web to help you make face to face trade with a native retailer.
In the event you choose to adopt this method, it is best to arrange a meetup in a busy, open place and play it safe at the time of the transaction. Also, keep in mind that you must have access to your wallet to ensure that the coins have been transferred to your Bitcoin address.
Buy BTC from an Exchange:
Bitcoin exchanges allow consumers to buy and sell Bitcoin. However, while dealing with such exchanges, remember that these exchanges and wallets do not work the same way as the banks.
Unlike traditional banks, these exchanges do not provide any protection to your record which could be an issue should you end up losing coins to hackers. So, make sure you have everything perfectly in shape – protecting your coins.
Buying BTC at ATMs:
You can also buy the bitcoin instantly with Bitcoin ATMs. The approach is similar to the one with face to face exchange, the only difference here is that people are interacting with a machine instead of a human being.
These ATMs require users to insert their money or MasterCard to complete the transfer of bitcoins to your wallet. Some latest models even permit you to withdraw money by sending bitcoins. However, the transaction rates of these ATMs are slightly higher than that of traditional exchanges – 3%-8% to be precise.
These are some of the best ways to buy Bitcoin instantly. To conclude it all, first, you need a Bitcoin wallet to store coins. Then go to an exchange, get them through an ATM or go with face to face purchase as all these methods guarantee instant bitcoins.
Good luck with your first purchase.