6 Incredible Benefits Of the Cryptocurrency

This year, the value of Bitcoin has soared, even above one ounce of gold. There are also new cryptocurrencies in the market, which is even more surprising, increasing the value of cryptocurrencies to more than a hundred billion. On the other hand, the long-term outlook for cryptocurrency is somewhat clouded. There is controversy about the lack of progress among the core developers, which makes it less attractive as a long-term investment and as a payment system.

Bitcoin

Still the most popular, Bitcoin is the cryptocurrency that started it all. It is currently the largest market cap of around $41 billion and has been around for the past 8 years. All over the world, Bitcoin is widely used and so far there is no exploitable weakness in the way it works. As both a payment system and a store of value, Bitcoin allows users to easily receive and send Bitcoins. The blockchain concept is the foundation upon which Bitcoin is based. It is necessary to understand the concept of blockchain to get an idea of ​​what cryptocurrencies are.

Simply put, blockchain is a database distribution that stores each network transaction as a piece of data called a “block”. Every user has blockchain copies, so when Alice sends 1 Bitcoin to Mark, every person on the network knows it.

Litecoin

An alternative to Bitcoin, Litecoin attempts to solve many of the problems holding Bitcoin back. It is not as stable as Ethereum, with its value mostly due to solid user adoption. It’s worth noting that Charlie Lee, a former Google employee, runs Litecoin. He also practices transparency with what he does with Litecoin and is quite active on Twitter.

Litecoin was second fiddle to Bitcoin for quite some time, but things started to change in early 2017. First, Litecoin was accepted by Coinbase along with Ethereum and Bitcoin. Litecoin then fixed Bitcoin’s problem by adopting Segregated Witness technology. This enabled him to lower transaction fees and do more. However, the deciding factor was when Charlie Lee decided to focus solely on Litecoin and even left Coinbase, where he was the Director of Engineering, just for Litecoin. Because of this, the price of Litecoin has risen in the last few months, the strongest factor being the fact that it can be a real alternative to Bitcoin.

Ethereum

Vitalik Buterin, a superstar programmer, invented Ethereum, which can do everything Bitcoin can do. However, its main purpose is to be a platform for building decentralized applications. Blockchains are where the differences between the two lie. Basically, the Bitcoin blockchain records a type of contract that indicates whether funds have been moved from one digital address to another. However, there is significant expansion with Ethereum as it has a more advanced scripting language and has a more complex, wider range of applications.

Projects began to spring up on Ethereum as developers began to notice its better qualities. Through token sales, some have even raised millions of dollars and this is still an ongoing trend even today. The fact that you can create wonderful things on the Ethereum platform makes it almost like the Internet itself. This caused the price to skyrocket so that if you bought a hundred dollars worth of Ethereum at the beginning of this year, it would not be valued at almost $3000.

Monero

Monero aims to solve the problem of anonymous transactions. Even if this currency is perceived as a money laundering method, Monero aims to change that. Basically, the difference between Monero and Bitcoin is that Bitcoin has a transparent blockchain, with every transaction being public and recorded. With Bitcoin, anyone can see how and where money has been moved. However, there is a somewhat imperfect anonymity of bitcoins. In contrast, Monero has an opaque rather than a transparent transaction method. No one is completely sold on this method, but since some people love privacy for any purpose, Monero is here to stay.

Zcash

Unlike Monero, Zcash also aims to solve the problems that Bitcoin has. The difference is that instead of being completely transparent, Monero is only partially public in its blockchain style. Zcash also aims to solve the problem of anonymous transactions. After all, not everyone likes to show how much money they actually spent on Star Wars memorabilia. Thus, the conclusion is that this type of cryptocurrency does have an audience and a demand, although it is difficult to say which cryptocurrency that focuses on privacy will ultimately come out on top of the heap.

Bancor

Also known as a “smart token”, Bancor is a new generation cryptocurrency standard that can support more than one token in reserve. Basically, Bancor tries to facilitate the trading, management and creation of tokens by increasing their level of liquidity and allowing them to have a market price that is automated. Bancor currently has a front-end product that includes a wallet and smart token creation. There are also community features such as statistics, profiles and discussions. In short, the Bancor protocol enables the discovery of an embedded price as well as a liquidity mechanism for smart contract tokens through an innovative reserve mechanism. Through a smart contract, you can instantly liquidate or purchase any of the tokens in Bancor’s reserve. With Bancor, you can create new cryptocurrencies with ease. Who wouldn’t want that?

EOS

Another Ethereum competitor, EOS promises to solve Ethereum’s scaling problem by providing a set of tools that are more robust for launching and building applications on the platform.

Tezos

An alternative to Ethereum, Tezos can be consensually upgraded without much effort. This new blockchain is decentralized in the sense that it is self-governing by creating a true digital community. It facilitates a mathematical technique called formal verification and has features to enhance the security of the most financially sensitive smart contract. Definitely a great investment in the coming months.

Judgment

It is extremely difficult to predict which Bitcoin on the list will become the next superstar. However, user acceptance has always been a key success factor when it comes to cryptocurrencies. Both Ethereum and Bitcoin have this, and even if there is great support from early adopters of each cryptocurrency on the list, some have yet to prove their durability. However, these are the ones to invest in and watch out for in the coming months.

The birth of Bitcoin in 2009 opened the door to investment opportunities in a whole new kind of asset class – cryptocurrency. Many entered space very early.

Intrigued by the huge potential of these emerging but promising assets, they bought crypto at low prices. Consequently, the rise of 2017 made them millionaires/billionaires. Even those who didn’t bet much reaped decent profits.

Three years later, cryptocurrencies still remain profitable and the market is here to stay. You may already be an investor/trader, or you may be considering trying your luck. In both cases, it makes sense to know the benefits of investing in cryptocurrencies.

Cryptocurrency has a bright future

According to a report titled Imagine 2030 published by Deutsche Bank, credit and debit cards will become obsolete. Smartphones and other electronic devices will replace them.

Cryptocurrencies will no longer be seen as outcasts, but as alternatives to existing monetary systems. Their advantages, such as security, speed, minimal transaction fees, ease of storage and relevance in the digital age, will be recognised.

Specific regulatory guidelines would promote cryptocurrencies and encourage their adoption. The report predicts that there will be 200 million cryptocurrency wallet users by 2030 and almost 350 million by 2035.

Opportunity to be part of a growing community

WazirX’s #IndiaWantsCrypto campaign recently completed 600 days. This has become a grassroots movement supporting the adoption of cryptocurrencies and blockchain in India.

Also, the recent Supreme Court ruling that overturned the RBI’s 2018 ban on crypto banking has instilled a new surge of confidence among Indian Bitcoin and cryptocurrency investors.

The 2020 Edelman Trust Barometer report also points to people’s growing faith in cryptocurrencies and blockchain technology. According to the findings, 73% of Indians trust cryptocurrencies and blockchain technology. 60% say the impact of cryptocurrency/blockchain will be positive.

As a cryptocurrency investor, you are part of a thriving and fast-growing community.

Increased earning potential

Diversification is a basic rule of investing. Especially in these times when most of the assets have suffered heavy losses due to economic hardship caused by the COVID-19 pandemic.

While the Bitcoin investment has returned 26% year-to-date, gold has returned 16%. Many other cryptocurrencies have registered triple digit ROI. Stock markets, as we all know, have seen dismal results. Crude oil prices fell below zero in the month of April.

Including Bitcoin or other cryptocurrencies in your portfolio would protect the value of your fund in such uncertain situations in the global market. This fact was also impressed upon billionaire macro hedge fund manager Paul Tudor Jones when he announced his plans to invest in Bitcoin a month ago.

Cryptocurrency markets operate 24X7X365

Unlike regular markets, cryptocurrency markets work around the clock, all days of the year without fatigue. This is because digital currency systems are essentially designed using pieces of software code that are protected by cryptography.

The operational plan does not involve human intervention. So you are free to trade crypto or invest in digital assets whenever you want. This is a great benefit! Cryptocurrency markets are very efficient in this way.

For example, Bitcoin has successfully processed transactions with a 99.98% uptime since its inception in 2009.

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No documents or formalities are required

You can invest in Bitcoin or any other cryptocurrency anywhere and anytime without any unnecessary terms and conditions.

Unlike conventional investment options, where an absurdly large amount of documentation is required to prove yourself as an “accredited investor”, crypto-investing is free for all. In fact, this was the intended purpose behind the creation of cryptocurrencies. The democratization of finance/money.

To buy any cryptocurrency on WazirX, you need to open an account for which you just need to provide some basic data, including your bank account information. Once they’re checked, within a few hours, you’re good to go.

Sole proprietorship in investments

When you buy Bitcoin or any other cryptocurrency, you become the sole owner of that particular digital asset. The transaction is carried out according to the peer-to-peer scheme.

Unlike bonds, mutual funds, stockbrokers, no third party “manages your investment” for you. You manage the buying and selling whenever you want.

User autonomy is the biggest advantage of cryptocurrency systems, which provides incredible opportunities to invest and build a corpus on your main capital “independently”.

These were some of the benefits of investing in cryptocurrencies. We hope you find them useful and convincing enough to start your crypto investment journey.

Cryptocurrency is a digital alternative to using credit cards or cash to make everyday payments in a variety of situations. It continues to develop as a viable alternative to traditional payment methods, but it still needs to become more stable before it is fully accepted by ordinary people. Let’s take a look at some of the many benefits of using cryptocurrency:

Fraud – Any issue of fraud is minimized as cryptocurrency is digital, which can prevent reverse or counterfeit payment. This type of action can be a problem with other traditional payment options such as credit card due to chargebacks.

Identity Theft – You don’t need to give out personal information that could lead to identity theft when using cryptocurrency. If you use a credit card, the store receives a lot of information related to your credit line, even for a very small transaction. Also, paying by credit card relies on a withdrawal transaction that requires a specific amount from an account. When paying in cryptocurrency, the transaction is based on a push basis, which gives the account holder the option to send only the exact amount due without additional information.

Versatile use – payment can easily be made with cryptocurrency to meet certain conditions. A digital contract can be created to make a payment that is executory at a future date, to refer to external facts, or to obtain approval from a third party. Even with a special contract, this type of payment is very fast and efficient.

Ease of access – the use of cryptocurrency is widely available to anyone with access to the Internet. It is becoming very popular in some parts of the world, such as Kenya, where nearly 1/3 of the population uses a digital wallet through the local microfinance service.

Low Fees – It is possible to complete a cryptocurrency transaction without having to pay any additional fees or charges. However, if a digital wallet or third-party service is used to hold the cryptocurrency, there will likely be a small fee.

International trade – this type of payment is not subject to country-specific levies, transaction fees, interest rates or exchange rates, making it possible to make cross-border transfers with relative ease.

Adaptability – with nearly 1,200 unique types of cryptocurrency on the global market, there are many options for using a payment method that fits specific needs. While there are many uses for the coins for everyday use, there are also those designed for a specific use or in a certain industry.

Bitcoin is a cryptocurrency that can be spent, saved, invested, or stolen. Bitcoin trading used to be considered risky, but current trends show that it has become a big hit in the binary options sector. This decentralized currency is not regulated by any government or any central authority.

What determines the price of bitcoins?

The price of Bitcoin is determined by the ratio of supply and demand. Prices rise when demand rises, rates plummet when demand falls. Bitcoins in circulation are limited and new ones are created at a very slow rate. Since there is not enough money reserve to drive the market price, its price can be extremely volatile.

Bitcoin trading is popular because of –

• Low inflation risk – Inflation is the biggest problem for traders because all currencies lose some of their purchasing power when reserve banks keep printing more currency. Since the bitcoin mining system is limited to only 21 million bitcoins, it is hardly affected by inflation.
• Low risk of collapse – Currency fluctuations depend on government trade policy, which sometimes causes hyperinflation and even causes the currency to crash. Bitcoin is a virtual universal currency that is not regulated by any government.
• Simple, safe and cheap – Bitcoin payments are peer-to-peer without a middleman, making them simple and cheap.
• Easy to carry – Millions of dollars worth of bitcoins can be carried in your pocket, in memory. This cannot be done with gold or money.
• untraceable – Bitcoin issuance is not regulated by any government, so the risk of seizure is zero.

Binary Options Bitcoin Trading Platform

Binary options brokers are familiar with the popularity of these bitcoins and their constant fluctuations in values. Therefore, they use this opportunity to offer merchants the latest volatile cryptocurrency as an additional payment method. Bitcoin brokers providing cryptocurrency as a trading option include –

• One Touch Option – Bitcoin trading can be done with AnyOption or One Touch Option. For example, the current popular currency pair is BTC/USD.

• SetOption – The latest asset trading option available is BITCOIN/USD.

Bitcoin brokers provide a simple online trading platform. All you have to do is visit their website, enter your details and create an account. You can start with a demo account to understand the action of the market.

The trading screen is simple.

• Choose price direction (UP/DOWN)

• Select the time frame

Is Bitcoin Trading Safe?

The Bitcoin network is probably the most widespread computing project in the world. The most common weakness here is user error. Bitcoin wallet files can be lost, stolen or accidentally deleted just like any other digital file.

However, users can use reliable security strategies to protect their money. Alternatively, you can choose the service providers that offer a high level of security as well as insurance against loss or theft.

When it comes to cryptocurrency trading, you have to speculate whether the market you have chosen will go up or down in value. And the interesting thing is that you never own the digital asset. In fact, trading is done with derivative products such as CFDs. Let’s take a look at the benefits of trading cryptocurrencies. Read on to learn more.

Volatility

Although cryptocurrency is a new market, it is quite volatile due to short-term speculative interest. Bitcoin price fell to $5,851 from $19,378 in 2018 in just one year. However, the value of other digital currencies is quite stable, which is good news.

What makes this world so exciting is the volatility of cryptocurrency value. Price movements offer many opportunities for traders. However, this is also associated with great risk. Therefore, if you decide to research the market, just make sure you do your research and put together a risk management strategy.

Work time

The market is usually open for trading 24/7 as it is not regulated by any government. In addition, transactions take place between buyers and sellers around the world. There may be brief outages when infrastructure updates are performed.

Improved liquidity

Liquidity refers to how quickly a digital currency can be sold for money. This feature is important as it enables faster transactions, better accuracy and better pricing. In general, the market is somewhat liquid, as financial transactions take place on different exchanges. Therefore, small trades can lead to large price changes.

Leverage exposure

As CFD trading is considered a leveraged product, you can open a position on what we call ‘margin’. In this case, the value of the deposit is part of the trade value. So you can enjoy great market performance without investing much money.

The loss or gain will reflect the value of the position at the time it was closed. Therefore, if you trade on margin, you can earn huge profits by investing a small amount of money. However, it also increases losses that may exceed your deposit on a trade. So make sure you consider the total value of the position before investing in CFDs.

It is also important to ensure that you follow a solid risk management strategy, which should include appropriate limits and stops.

Fast account opening

If you want to buy crypto currencies, make sure you do it through an exchange. All you have to do is register an exchange account and keep the currency in your wallet. Note that this process can be restrictive and take a lot of time and effort. However, once the account is created, the rest of the process will be quite smooth and hassle-free.

In short, these are some of the most notable advantages of cryptocurrency trading here and now. We hope you find this article quite useful.

Over the past few years, people have been talking a lot about cryptocurrency. At first, this business sounded scary, but people began to trust it. You may have heard of Ether and Bitcoin. Both are crypto currencies and use Blockchain technology for the highest possible security. These days, these currencies come in several forms. Let’s learn more about it.

How can cryptocurrency help you?

As far as fraud is concerned, this type of currency cannot be counterfeited as it is in digital form and cannot be reversed or counterfeited unlike credit cards.

Immediate settlement

Buying real estate involves third parties, such as lawyers and notaries. So delays and additional costs may occur. On the other hand, Bitcoin contracts are designed and enforced to include or exclude third parties. Transactions are fast and settlements can be made instantly.

Lower fees

There is usually no transaction fee if you want to exchange Bitcoin or any other currency. To confirm a transaction, there are minors who receive payment from the network. Although there is zero transaction fee, most buyers or sellers hire the services of a third party such as Coinbase to create and maintain their wallets. If you don’t know, these services function just like Paypal, which offers a web-based exchange system.

Identification of theft

Your merchant receives your entire line of credit when you provide them with your credit card. This is true even if the transaction amount is very small. In fact, what happens is that credit cards work based on a withdrawal system where the online store withdraws the required amount from the account linked to the card. On the other hand, digital currencies have a “push” mechanism where the account holder sends only the required amount without additional information. So there is no chance of theft.

Free access

According to statistics, there are about 2.2 billion people who use the Internet, but not all of them have access to the conventional stock market. So they can use the new payment method.

Decentralization

As for decentralization, an international computer network called Blockchain technology manages the Bitcoin database. In other words, Bitcoin is under the administration of the network and has no central authority. In other words, the network operates on a peer-to-peer basis.

Recognition

Since cryptocurrency is not based on exchange rates, transaction fees or interest rates, you can use it internationally without suffering any problems. So you can save a lot of time and money. In other words, Bitcoin and other currencies like it are recognized worldwide. You can count on them.

So, if you have been looking for a way to invest your extra money, you can consider investing in Bitcoin. You can become a miner or an investor. Make sure you know what you’re doing though. Safety is not an issue, but it is important to consider other things. We hope you find this article helpful.