A Child poster for speculation
13 July 2017, bitcoin is the leading prima donna of the digital currency market. Anyhow, a big wall street bank does not impress by the crypto-storm.
James Faucette leads the Morgan Stanley’s team to hold up Bitcoin BTCUSD. +0.05% as a poster child for assumption although downplaying its potential as a valid currency.
In a report, analysts of the cryptocurrency note that online merchants’ percentage is low from last five years. This is the fact that price of the digital currency increases by 250%.
Faucette says, “The disparity between virtually no merchant acceptance and bitcoin’s rapid appreciation is striking.”
He has the responsibility for retailer’s quick appreciation in case of lack of bitcoin’s appeal, high cost with low transaction process. But unluckily, the main offender may be its rapidly growing worth.
Faucette says, “The ecosystem has focused more on value speculation rather than the foot-leather-eating work of increasing acceptance — way easier to trade speculatively than convince new merchants to accept the cryptocurrency.”
In early June, Morgan warned the cryptocurrencies to join the traditional investment tools. In this context, they need to accept the government oversight. Accordingly, it didn’t persuasive what that would demand.
Meanwhile, until the bitcoin’s regulation introduces, the discussion is over that Bitcoin is an alternative formula of monopoly money. Or, a genuine currency is expected to continue without a definitive conclusion.
Bitcoin is a peer to peer, decentralized, the digital currency which is designed for users to make online transaction anonymously. In simpler words, it’s a virtual currency which was created by a group of unknown programmers in 2009.
During this short period of time, bitcoin has accumulated worldwide recognition as well as contention as an alternative to USD and Euros.
Journey Towards Popularity:
Bitcoin first came into circulation in 2009. The currency didn’t gain much attention in world business during the first couple of years. The first it gained recognition was the year 2011-12 when it grew over 300%. The next year also proved to be quite fruitful as the currency saw more than 400% growth in its value.
Due to its incredible rise, the investors and venture capital around the world invested $57 million in the first quarter, followed by an investment of $73 million in second quarter.
A Guideline to Invest in Bitcoins:
The easiest way to get bitcoins is to shop for bitcoins. There are numerous established firms in the US and around the globe that are involved in trading bitcoins. These firms are abbreviated as BTC.
Coinbase and BitStamp are two of the top players of the game.
Coinbase is the “go-to” place to trade coins if you live in the US. The Coinbase provides its clients with bitcoins at an estimated markup of 1% over the existing market price. It also gives you the option to sync your bitcoin wallets and bank accounts; which ultimately reduces the trouble factor in your future payment transfers.
Another unique option that Coinbase offers to its users is “auto-buy”. For example, if a user buys $100 in bitcoins at the start of each month, the company will him an option to set up an “auto-buy” for that amount.
Here you can learn more about how to buy bitcoin through Coinbase.
Bitstamp acts as an intermediary between users. This means that users can trade with each other but not the company itself. At BitStamp, the liquidity is higher and there is always a good chance to find a trading partner.
Local Bitcoins – An Alternative Way to Purchase Bitcoins:
If you are having troubles exchanging bitcoins online, Local Bitcoins is a good option to buy them offline. However, offline buying is not always considered to be safe. To be on the safe side at the time of a transaction, it is often suggested to have a meet up with the seller at a public place and let a friend/family member tag along for protection in case things turn ugly.
The Final Word:
There are numerous ways to take a dive into Bitcoin investment. Coinsbase, BitStamp, and Local Bitcoins are few to name. The most important thing to remember here is to do your homework and take your time before entering the sphere of bitcoin investment and you will be fine.
Find out what our experts have to stay about how to make a Bitcoin investment.
If you want 2018 to be the most profitable year for you, then it’s time to make some smart investments, as advantageous opportunities are still there waiting for you. Technology gets advanced real-quick, so you make an investment in something promising like ICOs. But which one is the best ICO to invest in? Well, it’s obligatory to choose an ICO launched by a reliable company that means business; or else, you might have to cope with a thwarting experience that might even daunt you from investing anymore.
- It’s imperative to know the nature of a business, which starts by evaluating whether the ICO has been created by a trustworthy company or not.
- New tokens must have a connection with the business model of the company.
- It’s important to know the purpose of the token as well as its worth for the firm.
- Apart from going for a well-organized business with a robust plan, the investor must comprehend the feasibility of the financial and economic model behind the ICO.
- The platform must explain the post-ICO strategy clearly as well as its future development.
- Nevertheless, funds that are raised through ICO should have an evident purpose.
- The top ICO is the one that describes all the targets and objectives that the business is ready to accomplish in the future.
Ability of Team
- Stay away from ICOs that run anonymously.
- An ICO website should have each and every detail about the team.
- A hard-working team will showcase the abilities of members through their project.
ICOs have become a huge hit for investors, and the technology behind them is extremely complicated.
Scrutinize not only the business idea but also the possible long-term operation. Many ICOs seem great on paper, however, the idea behind them is unrealistic. Also, make sure that the project has a robust and feasible idea behind it.
A business that doesn’t have any aim to scale will not go so far; showing a lack of perception from the team and the circumstance of having no goal in mind. Deprived of any target, it will be quite easy for the whole project to ultimately fail.
- You should have complete access to information before you deposit even a single penny.
- If you hardly understand what ICO all about is and find no communication means to find out more, don’t invest in it.
- The whitepaper signifies the idea and mission statement that explains the business and how investments are going to be used.
- It must encompass enough details for investors and the platform should be mainly substantial as well – offering easy access to inclusive materials about the activity of the company.
Presence of Social Media Platforms
- Online presence matters a lot. The company behind the ICO has to be active on social media networks including; Facebook and Twitter.
- The blog posts and social media accounts must also contain educational content so that investors can get informed related to the current state of the cryptocurrency market.
- Developers that don’t have enough experience can turn your investment into an anarchy. So, do not take a chance of investing in ICOs that are launched by inexpert individuals.
- Consequently, the best option is to stick to an ICO that is developed by a company that has a strong position and is stable on the market.
Soft Cap and Hard Cap
- Pay attention to the soft and hard caps of the ICO.
- Make sure to take a long look at the roadmap, submitted by the company as portion of their whitepaper and ensure that the hard cap makes sense.
- The token distribution structure should not errand the developers. This could also specify that the intention of team is to increase their own financial gains whenever the value of token will upsurge.
According to a recent report, 204 ICOs were analyzed with known-outcome and the data shows that ICOs created an average ROI of 1,320%.
As the combined market cap of cryptocurrencies has leaped above $600 billion, the price of bitcoin and Ethereum is still on the top.
Cryptocurrencies Now Worth Half a Trillion Dollars:
The cryptocurrency market has now reached $643 billion, and it seems that it will certainly reach $700 billion really quick, especially when the market cap of bitcoin has already reached $284 billion.
At the time of writing, bitcoin price is trading at $16,958.90 with the market cap of $284 billion. However, last week bitcoin price was $17,184 which is that the price of bitcoin can also decrease within days.
At this time, Ethereum’s price is trading at $875 and its market cap is $83 billion. Last week, it had a market cap of $65.6 billion, which means it has significantly increased just within a week. Ethereum continues to see growing transaction volumes also, as it has increased 9% within the last 24 hours.
Bitcoin cash is the third largest cryptocurrency that rose by 3% within a day. But its closest competitor Ripple is growing increasingly larger as well. At present, Ripple has a market cap of $18 billion, which means that if ripple repeats this single day performance one more time, it will definitely replace bitcoin cash and will rise to third in the ranking.
At this time, litecoin price is trading at $336, which represents a single-day increase of 2%.
IOTA is on number 6th in the ranking with the price trading at $5.37 at this time, with the market cap of $14 billion.
Dash and monero are currently valued at $1,598 and $460. NEM is on number ninth in the ranking, with the price of only $1 whereas, bitcoin gold has risen about 1.93%, taking it to the number 10th in the ranking.
News credits: ccn.com