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Investing in Bitcoin

Are you fascinated by the incredible rise of Bitcoin? Are you planning on making a Bitcoin investment but always hold due to the lack of essential insight? Then you have come to the right place. Here we have discussed the paramount factors that – as a potential Bitcoin investor – you will need to know.

The particulars we have covered here include:

Why Is Bitcoin Suddenly Gaining Worldwide Popularity?

Ever since the internet took over our lives, everything is becoming more and more reliant on it. And to make online transactions, we needed a currency that was more secure and less exposed to theft.

Several digital currencies tried to claim that spot, but Bitcoin is the only one that emerged as the victor.

The reason behind Bitcoin being the primary mode of online transactions is the security, reliability and complete anonymity that it gives to users.

Bitcoin is open to everyone and is not tied to a particular country; which makes it quite an exciting investment opportunity.

Why Invest in Bitcoin?

A bitcoin is worth well over a thousand USD. It may sound silly to some people but this is what the truth is.

Let’s take an example of gold to understand why bitcoin investment is a good idea.

Gold reserves on our planet are in a limited. The more we mine, the less is left and it becomes harder and costlier to find and mine.

Same is the case with bitcoins. They are finite and become harder to mine over time. Here are some key reasons as to why you should invest in bitcoins.

  • The monitory policy is predictable and can be verified by anyone.
  • Due to this predictability, it becomes possible to know how many bitcoins are in circulation and when new coins are created.
  • They can be transferred to any part of the world without government restrictions.
  • More corporations are starting to accept bitcoin as a form of payment.
  • If you understand Bitcoin, you would know that future belongs to this virtual currency.

When Is the Right Time to Buy Bitcoin?

As with any market, nothing is for sure. Throughout its history, Bitcoin has generally skyrocketed in value, followed minor, steady downfall until it settles.

If you want to understand current market trends and risks involved in the investment, go with the tools like Cryptowatch and Bitcoin Wisdom. These tools help you analyze charts and understand the price history of cryptocurrency.

Lastly, How to Secure Bitcoins?

As with anything valuable, thieves, con artists, and hackers are after your coins, so it’s necessary to keep them secured. But the question is, how to do so?

To gain maximum security, keep your coins in trustworthy wallets, such as Trezor and Ledger Nano S.

  • Trezor – it’s an offline wallet that generates private keys offline to keep your assets secure.
  • Ledger Nano S – a Bitcoin security company. Ledger Nano S offers a wide range of Bitcoin wallet addresss, and the wallets associated with this company are considered to be one of the safest out there.

You can discover more about these wallets on their official sites.

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5 Advantages of Digital Currency – Is This the Currency of the Future?

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Do You Want to Become Independent of Banks?

The last few years have all been about cryptocurrencies as more and more people are becoming aware of the word. In particular, terms such as Bitcoin, Ethereum, and Litecoin are more common in the digital currency department.

Here are some of the best performers in the market:

  • Bitcoin
  • Ethereum
  • Bitcoin Cash
  • Ripple
  • Litecoin
  • IOTA
  • NEM
  • Dash
  • NEO
  • Monero

 


How Are Cryptocurrencies Meant to Help You?

With the world becoming more and more economically dangerous, we are advancing towards different means of payment. This is where cryptocurrencies come in to play.  Below we’ve outlined a few pros and cons of accepting cryptocurrencies worldwide.

Advantages and Disadvantages of Using Cryptocurrencies

The benefits of using digital currency over fiat currency

  • Accessible by everyone: Out of 7 billion people, around 2.2 billion don’t have access to exchange systems, even while having cell phones and internet access. These individuals can easily access the cryptocurrency market, as there are so many mobile phone-based applications that allow you to transfer digital currencies.
  • Fraud: Digital currencies cannot be faked as real money is, and they can’t be reversed either as in credit card charge-backs.
  • Low Fees: Cryptocurrency exchanges ask for transaction fees which are quite low compared to other transaction charges, this is in return given to the miners as a reward for mining a block.
  • Identity Theft: There is no such issue with cryptocurrencies as identity theft since you are not revealing any personal information. It is a simple process, involving a public and private key.
  • No Third Party: Cryptocurrency transactions do not revolve around any central authority, it is completely independent. You are in control of your money.

In the end, technology is already here, it’s just a matter of acceptance. You must be able to weigh out the good and bad and decide what is the better choice for you. Cryptocurrencies are becoming an easier option of payment for many users since they’re fast as well as secure. If the above advantages are convincing and you’re wishing to buy some bitcoins or any other cryptocurrencies, then follow the link below.

Related: How to Buy Bitcoins?

 

Story Credits: ameerrosic.com

Image Credits: google.com

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Supply Chain Blockchain: Eximchain Raises $20 Million!

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Eximchain was established in 2015 at the Massachusetts Institute of Technology’s (MIT) media lab and is a supply-chain focused blockchain startup, which has managed to raise more than $20 million from a group of investors. Eximchain is basically an MIT-based software development company which uses blockchain to advance the SCF (supply chain financing).

blockchain supply chain

Supply Chain Financing

SCF allows investors to fund an organization through its supply chain procedure by providing them further operating capital and functioning cash flow to upsurge its effectiveness and lessen risk. Companies that effectively succeeded this cash flow have reduced their inventory by almost 30%, heading to substantially lower working costs.

Even as a startup, it has managed to raise the funds to advance its own public blockchain which runs by private smart contracts, in order to offer multiple solutions for recording, executing and disseminating information for supply chain shareholders.

Who’s behind the funding?

One of the major cryptocurrency hedges from China, FBG Capital was behind the funding. There were also many other participants included such as;

  • INBlockchain, which is a blockchain capital firm. It was founded by a Chinese cryptocurrency activist, Li Xiaolai.
  • Kinetic Capital, which is a Hong Kong-based investment firm.

Now moving towards the token airdrop, Eximchain says that it will see approximately 1.5 million ERC20-based EXC tokens disseminated to contributors after verifying their identity. According to the company, EXC can be also transformed into the native tokens, on the blockchain of Eximchain itself.

Hope Liu’s Statement

Eximchain’s co-founder and CEO, Hope Liu stated;

“After experimenting [with proofs of concept] on ethereum or private blockchains, the enterprise world is looking for technical solutions that can be deployed immediately to solve real supply chain problems. There is a huge potential for blockchain technology to revolutionize supply chain processes, and we are all excited to see the progress that Eximchain will help bring to this industry.”

The funding is actually what makes the firm one of the latest ones to join the highly popular trend of distributing airdrops, through which firms allot tokens for free to the concerned parties, rather than holding token sales in the existing ambience of regulatory obscurity.

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Tom Lee’s Prediction About BTC: Bitcoin will hit $91,000 by March 2020

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According to Tom Lee (co-founder and head of research at Fundstrat Global Advisors), the price of Bitcoin will hit $91,000 by March 2020. This prediction by Lee was based on a chart that shows the performance of Bitcoin after the slumps that it has seen in the past. Even though there’ve been many bitcoin future predictions since its creation, but Tom Lee’s prediction holds an important place in the crypto-world.

bitcoin future predictions

Can this prediction affect Bitcoin’s users?

No doubt, this prediction is going to excite many investors, and especially those who bought this top-cryptocurrency when it had the worth of $20,000.  The whole nation is under the influence of Bitcoin future predictions. A lot of risky things have been done by the people to jump on the Bitcoin bandwagon but unfortunately, this enthusiasm will not lose out on the cryptocurrency market as it has trapped investors in scams as well.

Not so long, a report said that Twitter was about to ban bitcoin advertisements after several credulous victims were caught in the recent scam.  On the other hand, the same thing was done by some other websites, as they also announced a ban on Bitcoin and ICO advertisements.

Following are the websites that are considering a ICO ads and Bitcoin.

  • Facebook
  • Google

How did Tom Lee predict Bitcoin’s price?

To predict the 2020 price of Bitcoin, Lee used an average of the percentage. The chart is based on a logarithmic scale and just because of its basis, as it’s divergent to the traditional linear-based graph, the ups and downs in the price of Bitcoin are not that dissimilar. The price of Bitcoin once fell to $3000 and since then, Lee has been predicting high-prices for this top-cryptocurrency.

Lee stated in July 2017 that the price of Bitcoin would hit the worth of $55,000 by 2022, and in January 2018, Lee said that by the end of this year, the price of Bitcoin would hit the value $25,000.

This year, at the beginning of March, Lee released “Bitcoin Misery Index”, which is defined as a “contrarian index’ and allows investors to understand how depressed Bitcoin holders are at the current price of Bitcoin right now.

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Why Trump had to ban Venezuelan cryptocurrency Petro in the US?

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An executive order has been issued by the U.S. President Donald Trump to ban the US Citizens from buying Petro cryptocurrency. Petro is first state-issued cryptocurrency developed by the government of Venezuela.

Further more, Trump has issued strict orders to the Treasury Secretary, Steven Mnuchin, to implement this ban. Earlier this year, the Treasury Department also announced sanctions on four Venezuelan government officials.

buying petro

Why was Petro Launched?

The cryptocurrency Petro was launched in February 2018, which could be purchased through US dollars and euros. At the time of its launch, it was claimed to be backed by the oil and mineral reserves of the Venezuelan government. According to some critics, if investors once started buying Petro, it could easily support the official currency of Venezuela, which is steadily falling down mainly due to US-imposed financial sanctions.

Reason for Trump’s Ban on Petro

As mentioned above, the ban was an attempt to put pressure on the Venezuelan President Nicolas Maduro and his undue policies. As a result, the efforts of Maduro’s government to boost their foreign currency reserves have been greatly affected.

US Treasury Secretary, Steven Mnuchin stated that President Maduro destroyed the Venezuelan economy which gave rise to a destructive humanitarian crisis in Venezuela. Instead of improving the present condition of their citizens, the Venezuelan government is trying to bypass the US sanctions through its Petro digital currency. In short, the Venezuelan President is trying to loot the resources of his people.

Effect of Trump’s ban on Petro

According to many critics, it is probably a quiet big blow for the Venezuelan government. Since most of the cryptocurrencies and their present market value is based upon the US dollar, so when we take the role of US out of that scene, the interest and potential rate for any of the cryptocurrency is also automatically reduced.

At a stage when Petro was struggled to create some serious interest among foreign governments, the ban by Trump will be extremely fatal. Earlier this year, Poland had also shown an interest in trading food and medicine with the Venezuelan government for the Petro, which was denied due to the sanctions imposed by the US president.

Let us know your point of view about all this in the comments below!

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History of bitcoin

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Bitcoin is a digital currency, world’s famous cryptocurrency. Who creates Bitcoin? Its answer is not that much easy. while the identity of the creature of bitcoin is still a mystery.  In last of 2008, someone going from the username Satoshi Nakamoto, release a white paper to cryptography list. The 9-page paper was entitled” Bitcoin, peer-to-peer electronic cash system”. That day and today, we do not know the creature, is a personality or a team work???

With pseudonym creature, bitcoin asserts itself. In the meantime, Bitcoin creates a strong impact on users of the cryptocurrencies’ world.

Now, here I am going to share bitcoin price history, its origin and how its start work, and rises as a star in cryptocurrency world.

2007:

Basically, working on bitcoin concept was started in 2007. If we consider, that Satoshi Nakamoto is a legend. He starts working on this concept to provide fair and free transaction system. While he was on record as living in Japan.

August 15, 2008:

The allege originator of Bitcoin concept denies the connection with Satoshi Nakamoto. Even so, Neal Kin, Vladimir Oksman, and Charles Bry file an application for an encryption patent application.

A great silence…………………………

August 18, 2008:

18 August 2008, anonymousspeeches.com register a domain, named bitcoin. A site, allows users to join and do transactions. This was the birth of Bitcoin in the real world.

 October 31, 2008:

Nakamoto publishes the design white paper in cryptography list. Whereas, the paper includes that the bitcoin currency is going to solve the issue of currency being copied.

January 3, 2009:

The first block was mined on January 3, 2009. It was,” Block 0, the genesis block, is established at 18:15:05 GMT.

January 9, 2009:

Version 0.1 released. It includes the generation system which creates 21Million bitcoins through 2040.

January 12, 2009:

Version 0.1 of bitcoin released on this date. Compiled

with Microsoft visual studio for windows. In which, bitcoin generation system will generate 21Million bitcoin through the year 2040. In addition, at the end of this year, on 16 December 2009, 0.2 version of bitcoin released. Whereas, 0.3 version released on July 7, 2010.

0.3.13 version of bitcoin released on September 29, 2010.

A Brief Look at Bitcoin History – First Bitcoin Transaction:

First bitcoin transaction takes place between Satoshi and Hal Finney on 12 January 2009.

Born of currency exchange:

First bitcoin market established on 6 February 2010 by doing dollar as Bitcoin currency exchange.

10,000 BTC spent on pizza:

Florida programmer, Laszlo Hanyecz pay 10,000 bitcoins for pizza. That was the real-life transaction takes place in cryptography world.

Pool mins……:

On September 18, 2010, bitcoin pool mining was introduced. Furthermore, several users work together and enjoy the benefit together.

2013:

No doubt, the most important year of the bitcoin. This year, Bitcoin wrote its history. In 2013, its market capitalization reaches $1bn. China bans this technology first. But today, 80% of bitcoin transactions are processed in China and become the largest trader of Bitcoin in the world.

2014:

In 2014, first and most progressive treatment to bitcoin was held by HMRC. Who classified bitcoin as the asset or private money.

2015:

The biggest change comes from banks and industries. Most of the banks trying to change their infrastructure. Whereas, industry executives talking about Bitcoin and some of them do transactions.

2016:

Therefore, it is too early to tell you about the story of Bitcoin in 2016. It reaches heights and sometimes faces loses.

Future Prediction of Bitcoin:

As bitcoin reaches the price of gold, and compete with many more cryptocurrencies. Which makes its strength in the financial market. Looking at the Bitcoin value history, future can be easily predicted. And my prediction is that coming era is bitcoin era.

 

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