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January 3 proved to be a historical day for Ripple. The crypto became the only currency after bitcoin to have a market cap of over $100 billion. At the time of writing, the valuation of Ripple is ~$121 billion.

$19 Billion Surge In 24 Hours:

Ripple’s native token, XRP, went up by more than 24 %, taking the coins value to $3. The huge value surge saw the valuation of ripple go from $95 billion to $116. As a result, Ripple further distanced itself from the third top cryptocurrency, Ethereum, and solidified its spot as the second most valuable crypto after bitcoin.

The daily trading volume of XRP is vigorously amassed in the South Korean market. Korbit and Bithumb are handling 40 percent of worldwide Ripple exchanges, representing more than $2.2 billion of Ripple’s daily trading volume.

On Bithumb, the second biggest digital money exchanging platform on the planet situated in Seoul, South Korea, Ripple stays as the most exchanged crypto, recording daily trading volume that is three times bigger than that of bitcoin.

Despite being the biggest and most liquid Ripple trade market, XRP is being exchanged with a high premium inside South Korean digital money market. On Bithumb and Korbit, Ripple is being traded at $3.5, with a 12 percent premium.

Brad Garlinghouse, the CEO at Ripple, and responsible for the advancement of the Ripple blockchain network, expressed that the “genuine use case” separates Ripple from other computerized assets.

However, as with any other digital money, Ripple met with some criticism. On January 3, P4man expressed that the vision of Ripple to develop into Swift 2.0 isn’t reasonable because for Ripple to become a Swift-like network, banks will need to pick up control over it.

“As for the moonshot of replacing Swift; most importantly, I have doubts over a worldwide agreement protocol being the correct approach. Banks presently control Swift. How likely is it they would give up control to a little startup and allow themselves to become indebted to its private currency, that they have no need for?” wrote P4man for Coindesk.

Story credit: ccn.com

Image: Google images

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How to Buy Bitcoins with PayPal Through LocalBitcoins?

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One of the most trusted ways to buy bitcoins is through LocalBitcoins. It’s a destination where buyers and sellers meet and a large number of them sell bitcoins via PayPal for others to use. However, its prices are much higher than that of VirWox.

Following are the steps that you will need to follow to complete a bitcoin transaction on LocalBitcoins.

Step 1: Log Onto LocalBitcoins:

To buy local bitcoins, head over to LocalBitcoins.com and enter the amount of USD (or any other currency), select your country and select “PayPal” as your payment method.

Buying Bitcoins with PayPal through LocalBitcoins

 

Step 2: Select Your Seller:

You should now be seeing a list of sellers willing to accept PayPal. You can run by them one at a time and here are some factors to look into:

  • Feedback Score – It is located under the seller’s name. here you can see the feedback about the seller. We recommend conducting transactions with only high feedback sellers.
  • Trade Limits – Every seller has a minimum/maximum amount they are willing to trade.
  • Payment Window – The time you have left for making a payment and marking that payment ‘done’ after you initiate the trade.

Buying Bitcoins with PayPal through LocalBitcoins

 

Step 3: Verify Credibility of The Seller:

For credibility verification of a seller, click on “see feedback”.

Buying Bitcoins with PayPal through LocalBitcoins

With these points, you can find out if the seller is trustworthy or not.

  • Trade Volume of confirmed Trades- Be sure to check that the number of trades is in proportion to the number of partners.
  • Trusts- The higher this value, the better.
  • Blocks- A higher number of “blocks” than “trusts” is not a good sign.
  • Verifications- If a person has his ID/Passport and other personal details verified, then he can be trusted.

Certain sellers will require you have an initial reputation in order to buy from them so they can avoid scams or fraud.  This means that you will have to conduct some small transactions to prove your legitimacy.

 

Step 4: Finalize The Trade:

Once you’ve chosen your seller, enter how much you are willing to buy and click on “Send trade request”.

Buying Bitcoins with PayPal through LocalBitcoins

 

Step 5: Payment:

You will be taken to the “Payments” page and you’ve got to “mark the payment complete” on the invoice.

Buying Bitcoins with PayPal through LocalBitcoins

Once this step is finished, the seller will verify your payment and you will receive BTC in your wallet.

Buying Bitcoins with PayPal through LocalBitcoins

 

Things to know:

  • Local Bitcoins also offers “Bitcoin escrow service” to protect you from fraud.
  • You might not be able to buy from every seller of your choice because serious sellers have serious requirements, such as account age, minimum no. of sales, etc.
  • Bitcoins are reflected “Instantly” into your LocalBitcoins wallet once they’ve been released.
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What Are the Uses of Bitcoins?

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Uses of Bitcoins

As the Bitcoin grows in popularity, the users are coming up with more and more ways to make it work for them. The use of bitcoins can be stretched as far as our imagination goes.

Bitcoin can perform almost every task that traditional currency does, but with more ease and comfort. You can buy goods/services and make online transactions worldwide through bitcoins.

In this article, we have discussed what is bitcoin and how to use it some most common things that you can do using this digital currency.

USES OF BITCOINS:

Hair Dressing:

Getting a new haircut to add some different flavor to your look is now easier than ever as several Top salons around the globe have announced their venture into the world of Bitcoin.

The saloons have trained employees to accept Bitcoin payments and have QR codes hung up around their shop.

Food:

Let’s admit it, food an essential part of our lives. Every time we hear the word “food” our stomach starts growling. And with restaurants around the world accepting payments in Bitcoin, it makes for an even greater experience for food enthusiasts. So, it’s time to get your Bitcoin wallet address and start paying for your favorite food in bitcoins.

Clothing:

Since the earlier days, clothing has had a very close bond with Bitcoin. It is said that clothes are one of the first items that the users could buy using bitcoins.

Most leading clothing stores accept bitcoins in payments and the trends keep on growing each day. Recently, an online retailer in China called Hyperbeast and a French retails chain Monoprix have welcomed Bitcoin payments in order to attract clients from different fields of life.

Real Estate:

After getting your hair done, having dinner at some feisty restaurant and putting on some lavish clothes, the next thing you’d want to do is rest in a home bought with Bitcoin.

That’s right. Several real estate companies/firms are accepting bitcoins as a form of payment. Whether you are making a down payment to buy a home or just paying rents, the real estate firms across New York, Australia, and Canada are welcoming Bitcoin payments.

Have low balance in your bank account? Your Bitcoin wallet has got your back.

Never heard of Bitcoin wallet before? Read our guide on what is Bitcoin wallet.

Last but Not Least – Donations:

The best way to put your money to good use is helping the needy. And Bitcoin makes this process a lot easier for you. Now you can donate your coins using Bitcoin wallets to those in need of a shelter or food.

In conclusion, Bitcoin has made our lives easier than ever. We can buy food, get good clothing and pay rents when laying in our beds; which was not possible before the arrival of cryptocurrency. And ever-growing use and popularity will only take our payment methods to a whole new level, bringing more comfort into our lives.

Where to use Bitcoin?

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Bitcoin Is Rapidly Overtaking Fiat In Venezuela

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A prolonged hyperinflation of the Venezuelan bolivar has made it just about unusable. Over the last couple of months, bitcoin has taken control over the country as the primary currency and the citizens have been using the digital currency to buy basic goods, medicine, and other key items.

Patricia Laya, Venezuelan Bureau Chief at Bloomberg, has revealed that the daily limit of country’s ATMs is set at 5,000 bolivars, worth around $0.05. Laya expressed that she had held up 20 minutes in line to get $0.05 in hyperinflated currency worth just about no value.

Because of the deficiency of money and the quick decrease in the valuation of the Venezuelan bolivar, the residents have started to investigate different strategies for payments since the start of 2017. Since the estimation of money has dove and the residents, organizations, and experts have effectively dismissed the cash, the majority of the Venezuelan population has started to opt for alternative forms of money.

Consistently, the fame of bitcoin inside Venezuela has surged, as a rapidly expanding number of individuals have begun to use the digital money as the primary cash, medium of trade, and store of value.

In a meeting with the Associated Press, Venezuelan inhabitant John Villar expressed that he has purchased two plane tickets to Colombia, his better half’s medicine, and paid his workers with bitcoin in the previous month. Villar stated that he plans to keep using bitcoin like the majority of Venezuelans.

“This doesn’t involve politics. This involves survival,” said Villar.

Currently, it is nearly impossible to buy any goods or services with Venezuelan bolivar, given its low value and adoption in the country.

In coming days, Venezuela may become the first country where bitcoin takes over the national currency and becomes country’s main financial system.

But Why Bitcoin, And Not Some Other Currency?

In Venezuela, the majority of the people have lost trust in the government, national bank, and banks. Its currency is almost broken and its esteem has dived to a point where no goods or services can be acquired with it.

Bitcoin is a decentralized and peer to peer currency framework, store of significant value, and a safe haven asset that shows a trustless ecosystem. Anybody inside the system can send and get payments from each other on a shared premise, without the involvement of intermediaries.

In future, bitcoin will probably rise as the real substitute to the declining fiat monetary standards. In the long term, bitcoin could even replace multi-trillion dollar fiat currencies like the US dollar, Japanese yen, and Chinese yuan, if it continues its current development rate and exponential increment in value.

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Is 2018 ‘The Year Of Crashes’ For Bitcoin?

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2017 was a year for bitcoin like no other. The advanced cash not just recorded remarkable gains, it single-handedly introduced new asset class that is turning into the primary alternative to fiat in the modern era.

bitcoin-crash-2018

For all the euphoria of the previous year, the way ahead won’t be simple, strategists warn. With bitcoin costs achieving unfathomable levels, the dread of missing out is too strong to resist.

That was one of the key messages Wall Street expert and originator of DataTrek Nick Colas passed on a week ago when he contended that bitcoin would see wild fluctuations throughout the next year. In his estimation, bitcoin can possibly trade between $6,500 and $22,000 through the span of 2018. During the process, investors can expect a few “crashes” of around 40%.

“Main concern: Bitcoin can rally to $22,000 and still be sensibly priced, or plunge to $6,500 and still be accurately esteemed,” he told CNBC. “We expect to see bitcoin exchange at the two costs in 2018.”

Major Themes For 2018:

A few noteworthy subjects will impact bitcoin’s value direction this year, biggest among them being the regulatory scene representing cryptographic money. South Korea – seemingly a standout amongst the ideal locales for exchanging digital money – is actualizing new regulations aimed at curtailing speculation. The technique incorporates banning individuals from opening new crypto accounts and from trading secretly. Top policymakers in the country have additionally said they are not opposed to closing down crypto trades should the new regulations fail to deflect speculation.

Advancing regulations and vulnerability about the future have set extensive strain on the crypto market. In September, China issued a sweeping prohibition on crypto trades and ICOs, setting off a massive correction. Different countries are still feeling their way through the asset class, with the likes Kazakhstan and Russia calling for state-upheld digital forms of money.

In addition to control, the verbal confrontation over blockchain adaptability will keep on influencing financial investor sentiment. Contradiction over bitcoin’s current convention has prompted numerous coin splits, including the now popular bitcoin cash fork. A couple months later, bitcoin gold would likewise develop following disagreements over the mining procedure.

To sum it up, debates over bitcoin’s future are normally ideological as much as they are esteem based. The general view on Wall Street is that the advanced asset class, all in all, is essentially exaggerated, with many contending that bitcoin has no natural esteem and in this manner can’t be assessed. However others, similar to Tyler and Cameron Winklevoss and John McAfee, trust bitcoin can still grow many factors above its present level.

Story credit: ccn.com

Image: Google images

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LATEST: IS IT TOO LATE TO BUY BITCOINS 2017? EXPERT REVIEW | INVESTORS | TRADERS | MEDIA

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Buy a Bitcoin?

A lot of people today, looking at the progress and boom of bitcoin want to invest and buy bitcoin. But bitcoin is not a company or a stock. So, what do all these people mean by investing or buying Bitcoin? Bitcoin is a currency. How do you want to invest in a currency? If it meant appreciating the value or trading it, we need to have a closer look at the insight first.

Buying and holding

Buying Bitcoin in hope that you will avail the opportunity cost or the value will appreciate, is known as ‘Hodling’. If this is the intention then you need to do your homework yourself beforehand. Study the nature and behavior of the currency. Study and observe the reasons it fluctuates and reacts according to the changing socio-economic natures around the world. Few points to account for;

  • It is a risky task to perform. Always risk the amount that you are okay loosing too. The tables are not always on your side.
  • Always transfer currency to the personal wallet. Never leave it on the exchange. It may result in scam or fraud.
  • Always choose reputable exchangers.
  • Use the method of cost averaging to buy Bitcoins.

Trading

If your aim is trading than it means you are an active participant in buying and selling the currency. You buy the cryptocurrency at lower rates and sell when the rates go up. Trading gives reward only through knowledge and practice.

Investing in Mining

If you are interested in Bitcoin mining and needs to invest in equipment to mine more Bitcoins, it’s not that easy of a task too. There is a lot of scams included in this act too. You may come across complete scams eating away all your currency. Or you may end up in bad investment companies by paying the sites for more coins. It’s basically all surrounded by risks and risks.

Investing bitcoin companies

If a company claims to double to your coins or give the reward that is too good to be true then maybe it is not true. These companies are mostly scams or HYIPS (High Yield Investment Programs). These sites promise untrue rewards and start by creating a referral program or a big buzz around on the site. Entertaining a few startups for a few months, these companies will vanish in the air in no time. There will be no compensation and people will be left crying over the lost bargain. You cannot trust a site fully to say it legit or trustworthy to the fullest.

Is it late to buy bitcoin?

The answer to this is not that simple yet not so complicated too. It totally depends on the understanding and knowledge of the currency. A decentralized, peer to peer electronic currency, controlled by no one but just by the consumer, can be so unreliable to put the bid on. The important is to know how to invest rather than thinking whether to invest or not. The only way out is to know the currency. To understand the knowledge and nature of the currency, its fluctuations and variations are all that counts to invest and make reward out of that investment.

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