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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:
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.
The benefits of using digital currency over fiat currency
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?
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A number of websites already accept bitcoin as a payment option. So, you are lucky you have them. Now, get ready to shop and spend the bitcoins. If you are confused how to start and where to start. In this article, you’ll read about the websites that are accepting bitcoins.
In January 2014, overstock was the first retailer which start accepting bitcoin as the payment option. Overstock partnering up with coinbase, which is the worldwide Bitcoin exchange. The company allows its customers to shop and make payments in bitcoins.
First, if you don’t own any bitcoins, you need to get them from an exchange or friend. Second, you are free to shop at overstock.com by using bitcoins. As the first and foremost retailer, Overstock expand its criteria of accepting bitcoin as the payment option. Third, click the “pay with bitcoin” on the checkout page.
Expedia is worldwide online travel booking agencies. Which is accepting bitcoin as a hotel booking payments since June 2014. Same as overstock.com, Expedia associate with coinbase and start booking payments in bitcoin. Moreover, flights, activities and other payments may in the bitcoin.
Foodler provides online food services and gets payments in bitcoin. While it was the early adopter of the bitcoin since 2013.
The customer has the option to order food and make payments around 20,000+ Foodler restaurant partners. These restaurants aren’t accepting bitcoin directly. Whereas, Foodler convert bitcoin into USD to pay the restaurant.
Electronic retailer giant started accepting bitcoin since 2014. In addition, BitPay is the Newegg’s processing partners for digital currencies. There are few purchases which do not accept the bitcoin as a payment.
First, you have to select the desired shipping option. Second, follow the payment procedure. Third, review the terms and conditions of the Newegg. Forth, Payment procedure of bitcoin includes;
Make an order and send the respected amount. Fifth, after fund transfer, paid invoice will be shown to the customer. And confirmed email will be sent.
Customers have the option to shop up to 200,000 with bitcoin payments. It is teamed up with coinbase same as Expedia since 2014.
An online eCommerce platform allows the customers to join and set up their own business just like Etsy or eBay. All 75,000+ merchants accepting bitcoin with the help of BitPay since 2013.
One of the largest company accepts Bitcoin payment since 2014. A satellite and internet provider network teamed up with coinbase.
Digital currencies need regulation, without regulation, there might be a wild swing in the prices of digital currencies. The chief of BTCC says Chinese regulator isn’t cracking down on Bitcoin.
The head of a leading Chinese Bitcoin Exchange warned on Tuesday that Digital currencies should be regulated otherwise they have the risk to go out of control if more individuals invest in these digital assets.
Bitcoin and Ethereum are two most popular digital currencies. They have seen a rapid price swing in recent months. In May, 19% price fall for Bitcoin noted nearly $4 billion in the value wiped off. Last month, the Ethereum price crashed as down as 10 cents from about $319 on the GDAX digital currency exchange. Because there is a bullishness in the market, as some predict that the price of Bitcoin to climb as high as $100,000 in a decade.
Bobby Lee, the CEO of Bitcoin exchange “BTCC”, he told to CNBC’s that “I think regulation for digital currencies is much needed because it will run amok from the society”.
He also said in Hong Kong that the major challenge is how to craft the rules and regulation around this new technology. He added I think it is taking the regulators and lawmakers some time to come up with the suitable rules and regulations to govern companies.
Regulators are discovering ways to regulate the digital currencies. People’s Bank of China stepped up some efforts to regulate the market earlier this year. The bank set up a task force to conduct an inspection and ensure Bitcoin exchanges had realized anti-money laundering systems, and they also warned many exchanges against violating rules.
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Some noticed the moves from PBOC as a try to crack down on Bitcoin but Bobby Lee disagreed. He said it is not really a crackdown. Lee added, previously the Central Bank was not well aware of the details of Bitcoin usage and trading.
He described that the upsurge in the price of Bitcoin coincided with the huge capital outflows from the China and exchange rate changes for the renminbi against the dollar.
Lee said Central banks should admit the fact that Bitcoin is the new currency that is actively operating in China and around the world. It is a new thing that the Central bank must pay attention and figure out what the regulation should be.
Story Credits: cnbc.com
Bitcoin reached to new heights of its career, two months ago: after a rigorous time period of growth bitcoin’s value is exceeded to one ounce of the gold.
That seems like antique history, bitcoin current trading rate is 2574.10 US dollars and its cousin’s trading rate is $262.11. Both digital currencies’ values increasing by 1200% in last three months.
Is this the end of the crypto-rally? and what has pushed its growth in first place. In the crypto-currencies’ world, you will get the answer to these questions.
It is essential to understand that Bitcoin is the biggest cryptocurrency in the world. It is not the only one digital currency, there are more than 600 active currencies but its value is high as compare to other. Accordingly, the Current market cap of all digital currencies is around $79 billion. And, only bitcoin’s market cap is $35 billion. Cryptocurrency Ethereum and ripple’s market cap is $17 and $18 billion respectively.
The crypto-market cap is depending on your viewpoint. If you have confidence that bitcoin will eventually replace money, then $35 billion is pocket change. But in reality, its never happen, and let’s suppose it is done, bitcoin may be left behind.
Furthermore, Bitcoin comprises the both, digital currencies’ features and payment platform at the same time. But, new breeding of digital currencies such as bitcoin and ethereum is quite different. A software has the ability to solve the scaling issues. In addition, litecoin adopt SegWit, ethereum come up with advanced feature such as the smart contract. It aims to become blockchain-based foundation which is basically a new type of internet. how’s that for determination.
There is always a good reason behind the rising value of a commodity or a currency doesn’t matter it is a cryptocurrency or traditional money. Apple’s stock price grows up in the case of a good quarter. In the world of the bitcoin cryptocurrency got double as a crypto-payment system.
But the recent news of the bitcoin is not good. Few areas of the United State decline the acceptance of the coin. In addition, from the last couple of the year’s Bitcoin community has divided. Whether bitcoin’s block size should be increased or not.
Charles Haytar says, “The Japanese have given bitcoin the green light as a currency and are looking to increase the rigor that their exchanges are subject to.” Japanese markets and other offer the opportunity for arbitrage, but old greed is going on.
Haytar added, “Lots of inexperienced investors are surging into the market, and it’s causing a bit of a bubble.”
Jörg von Minckwitz, Bitwala’s CEO pointed out that ethereum has got additional development due to the rise of ICO.
Mashable says, “Many crypto projects raise money from the Ethereum community to develop their projects and most of them use ETH to raise money. ETH set a standard, so it is way easier to start with ETH. The result is that many people buy ETH to be able to invest in the projects and many of the ICO projects hold the money afterward in ETH. That drives the price up.”