Tag: cryptocurrency

Blockchains, sidechains، mining the terminologies in the underground world of cryptocurrency keep piling up by the minute. Although it sounds counterintuitive to introduce new financial terms in an already complicated world of finance، cryptocurrencies offer a much-needed solution to one of the biggest annoyances in today’s money market the security of transactions in a digital world.

Cryptocurrency is a defining and disruptive innovation in the fast-paced world of Finnish technology، a relevant response to the need for a secure medium of exchange in the days of virtual transaction. At a time when deals are just numbers and figures, cryptocurrency proposes to do just that!

In the most rudimentary form of the term، cryptocurrency is a proof of concept for alternative virtual currency that promises secure, anonymous transactions over peer-to-peer online networks.

The misnomer is more of an asset than actual currency. Unlike everyday money، cryptocurrency models operate without a central authority، as a decentralized digital mechanism. In a decentralized cryptocurrency mechanism، money is issued, managed and approved by the collective network of the community whose ongoing activity is known as mining in a peer’s car.

Successful miners also receive coins to value their time and resources used. Once used, the transaction information is transmitted to a blockchain on the network under a public key، preventing any coin from being spent twice by the same user.

Blockchain can be considered as the cashier’s ledger. Coins are secured behind a password protected digital wallet representing the user.

The supply of coins in the digital currency world is predetermined, without manipulation, by any individual, organization, government entity، and financial institution. The cryptocurrency system is known for its speed، as transaction activities on digital wallets can materialize funds in minutes, compared to the traditional banking system.

It is also largely irreversible by design, further strengthening the idea of ​​anonymity and eliminating any further possibility of tracing the money back to its original owner. Unfortunately, the salient features – speed, security and anonymity – have also made cryptocurrencies the mode of transaction for many illegal trades.

Just like the money market in the real world, currency rates fluctuate in the digital currency ecosystem. Due to the limited supply of coins, as the demand for the currency increases، the coins inflate in value. Bitcoin is the largest and most successful cryptocurrency to date, with a market cap of $16.3 billion, accounting for 38.6% of the market and currently priced at $8,988.32. Bitcoin hit the currency market in December 2017 trading at $19,783.22 per coin, before facing a sudden decline in 2018. The decline is partly due to the rise of alternative digital currencies such as Ethereum، NPCcoin، Ripple، EOS، Litecoin and MintChip.

Because of the limits encoded in their supply، cryptocurrencies are considered to follow the same economic principles as gold the price is determined by limited supply and fluctuations in demand. With exchange rates constantly fluctuating, their sustainability remains to be seen. Consequently, investing in virtual currencies is more of a speculation at the moment than a day to day money market.

In the wake of the industrial revolution، this digital currency is an indispensable part of technological disruption. From the point of view of a casual observer, this growth can seem exciting، threatening and mysterious all at once. While some economists remain skeptical، others see it as a lightning revolution of the money industry.

Conservatively, digital currencies will displace roughly a quarter of national currencies in developed countries by 2030. This has already created a new asset class alongside the traditional global economy, and a new set of investment vehicles will come from cryptofinance in upcoming years. Recently، Bitcoin may have taken a dip to put other cryptocurrencies in the spotlight.

But this does not signal any crash of the cryptocurrency itself. While some financial advisers emphasize the role of governments in cracking down on the underworld to regulate the mechanism of central government، others insist on continuing the current free flow.

The more popular cryptocurrencies are، the more scrutiny and regulation they attrac a common paradox that destroys the digital grade and erodes the very purpose of its existence. Either way, the lack of intermediaries and oversight is making it extremely attractive to investors and causing day trading to change drastically.

Even the International Monetary Fund “IMF” fears that cryptocurrencies will displace central banks and international banks in the near future. After 2030, regular trade will be dominated by the crypto supply chain, which will offer less friction and more economic value between tech-savvy buyers and sellers.

If cryptocurrency aspires to become an essential part of the existing financial system, it will have to meet very different financial, regulatory and societal criteria. It will need to be hacker-proof, consumer-friendly and highly secure to provide its fundamental benefit to the mainstream monetary system.

It should preserve the anonymity of users without being a conduit for money laundering, tax evasion and online fraud.

Since these are indispensable to the digital system، it will take a few more years to understand whether cryptocurrency will be able to compete with the real world currency in full swing. While it is likely to happen, the cryptocurrency’s success (or lack thereof) in meeting the challenges will determine the fate of the monetary system in the coming days.

The Sovereign Individual is one of those books that changes the way you see the world forever. It was published in 1997, but the extent to which it predicts the impact of blockchain technology will give you chills. We are entering the fourth stage of human society، moving from the industrial age to an information age. You need to read this book to understand the scope and scale of how things will change.

As it becomes easier to live comfortably and earn an income anywhere، we already know that those who will truly thrive in the new information age will be workers who are not tied to a single job or career and are independent of the country. The appeal of choosing where to live based on price savings is already more appealing, but this goes beyond digital nomadism and freelance gigs، the foundations of democracy، government and money are changing.

The authors predicted Black Tuesday and the collapse of the Soviet Union، and here they predict that the increasing power of individuals will coincide with decentralized technology that will remove the power of governments. The death toll for nation-states, they predicted with remarkable insight, will be private, digital money. When that happens, the dynamic of governments as immobile thugs robbing hardworking citizens with taxes will change. If you become someone who can solve problems for people anywhere in the world, then you will enter the new cognitive elite. Don’t miss this.

Choice quote: “When technology is mobile and transactions take place in cyberspace، as they increasingly will, governments will no longer be able to charge more for their services than they are worth to the people who pay for them.”

Sapiens: A Brief History of Mankind by Yuval Noah Harari.

Whenever I want to impress upon someone how good this book is، I ask، “Do you want to know the fundamental difference between humans and monkeys? A monkey can jump up and down on a rock and swing a stick around and to shout to his friends that he has seen a threat coming their way. “Danger! Danger! Lion!” A monkey can also lie. He can jump up and down on a rock and wave a stick around and shout about a lion, when in fact there is no lion. He’s just lying. But what a monkey can’t to do is jump up and down and wave a stick around and shout, “Danger! Danger! Dragon!”

Why is this? Because dragons aren’t real. As Harari explains, it’s the human imagination, our ability to believe and talk about things we’ve never seen or touched that has set the species up to cooperate in large numbers with aliens. There are no gods in the universe, no nations، no money, no human rights, no laws، no religion، and no justice outside the collective imagination of human beings. It is we who make them so.

All of this is a pretty great preamble to where we are today. After the Cognitive Revolution and the Agricultural Revolution, Harari guides you to the Scientific Revolution, which started only 500 years ago and which could start something completely different for humanity. However, the money will remain. Read this book to understand that money is the greatest story ever told and that belief is the raw material from which all kinds of money are created.

Choice quote: “Sapiens, by contrast, live in a three-layered reality. In addition to trees, rivers, fears, and desires, the world of Sapiens also contains stories about money, gods, nations, and corporations.”

The Internet of Money ~ by Andreas M. Antonopoulos.

If the two books mentioned above help us understand the historical context in which Bitcoin first appeared, then this book expands on the ‘why’ with infectious enthusiasm. Andreas Antonopolous is perhaps the most respected voice in the crypto space. He has traveled the world as a Bitcoin evangelist since 2010 and this book is a compilation of talks he gave on the circuit between 2013 and 2016, all pressed for publication.

His first book, Mastering Bitcoin, is a deep technical dive into the technology, aimed more specifically at software and systems developers, engineers, and architects. But this book uses a few choice metaphors to explain why you can’t stop or shut down Bitcoin, how the scaling debate doesn’t really matter, and why Bitcoin needs the help of designers to block mass adoption.

“When you first ride your new car into a city,” he writes، “you’re riding on roads used by horses with infrastructure designed and used for horses. There are no traffic lights. There are no traffic rules. It didn’t pave the roads. And what happened? The cars got stuck because they didn’t have balance and four legs.” But fast forward a hundred years and cars that were once scoffed at are absolutely the norm. If you want to dive into the philosophical, social and historical implications of Bitcoin, this is your starting point.

Choice Quote: “Bitcoin isn’t just money for the internet. Yes, it’s the perfect money for the internet. It’s instant, it’s secure, it’s free. Yes, it’s money for the internet, but it’s so much more. Bitcoin is the internet of money.” Coin is just the first application.

If you understand that, you can look beyond price, you can look beyond volatility, you can look beyond fashion. At its core, Bitcoin is a revolutionary technology that will change the world forever. Join in.”

Cryptocurrency concepts must be cleared if you want to have a flexible، anonymous and secure currency transaction. There are many benefits that can be derived from using such nature of currency when peer-to-peer business is desired.

The basic requirement to have such foreign exchange transactions:

To have such a currency transaction between two peers, a Blockchain is required. When such is present, then there is no need for any third party that can be trusted to carry out such transactions. The system provides a way to have a secure transaction because it is impossible for hackers to manipulate any transaction or create fake data.

The benefits of using such a transaction system:

There are many benefits to using this kind of peer-to-peer transaction. Let’s take a look at them.

Pseudonymity: Everyone who transacts using cryptocurrency has a unique identifier. The special feature of the identifier is that it is not linked to the name and address of the user. The login can be easily changed for every transaction done just by clicking on a few buttons.

wallets: Wallet is a place where you can practically store your money and use it for any type of transaction. There are many ways to make your wallet secure. You can use passwords, encryption or have dedicated devices to have such security. You can easily have privacy and security for the money you have in your wallet.

Secure transactions: You can expect to have the most secure cryptocurrency transaction. A worldwide network of computers manages every transaction that takes place. It is a network that is not managed by any central governing authority, so this decentralized nature of cryptocurrency allows one to have a perfect peer-to-peer transaction.

The transaction is made more secure due to the fact that the money cannot be forcibly taken from anyone.

Thousands of checks are done before a transaction is completed and if any defect is detected then the transaction is stopped. It can be said that such a transaction is more secure than using a credit card.

Automated transaction: This peer-to-peer transaction nature can be automated using smart contacts. The system itself would process the transaction according to the rules set by you.

For example، if you want to transfer a certain amount of money to a certain account after having a certain fund, then the system will automatically follow such an instruction.

Quick solution: With this transaction tool you don’t need to wait long to have money in your account. The peer-to-peer nature of a transaction that is available using cryptocurrency allows one to cut out the middleman and thus the various tools associated with it. So you can expect to have the fastest currency transaction tools using this tool.

Easy payment:

It is quite easy to pay using Cryptocurrency. You don’t need to pay any heavy fees or enter any details other than the recipient’s wallet address to make such transactions possible. The amount would be transmitted within seconds to the recipient.

So, one can easily see how effective and beneficial it is to have peer-to-peer transactions using cryptocurrency.

Startups are the foundations that keep economies growing. The protection process for raising capital for new age ideas are the essential background of growth platforms. This in turn creates a potential growth benefit for the companies and the population it serves.

So why do we think cryptocurrency is a viable financing solution?

Startups are primarily innovation driven companies that are driven to make it to the big leagues so that they can survive and ideas remain viable driven over a tenure. Therefore, they must grow big and stay big in turn. To do this, investors are key with the spending power that shares the innovation to absorb it and believe in it. Angel investors or venture capitalists are the buzzwords for them who provide and direct them in token of capital or profits, with strict guidelines and policies that push companies forward.

Safe alternative financing with investors and raising capital is an extremely difficult combination to develop together, with all the geographical competition, while the law applies. Finding an approach is the important factor for startup growth. With the presence of blockchain alternatives like Ethereum, they can earn and raise capital in the form of Initial Coin Offerings.

The unregulated method for raising funds with cryptocurrency ventures. In an ICO campaign, a percentage of the coin is sold to the project’s early bankers in exchange for off chain coins like Bitcoin. This method of trading digital tokens to raise funds is the basis of how the entire system works in favor without any government regulation or shareholder pressure hinting at the company’s control of key members.

This process allows the founding members to have majority control of the startup and not deviate from the investor’s thoughts and processes. This negates the possibility of not disbanding the companies due to the power plant and the wrong objectives.

Escape from regulation is the key to creating a technical background for organizational profit and Initial Coin Offerings brought about by cryptocurrencies that collect arbitrary amounts of monetary benefits from anyone on the Internet، the cryptocurrency wallet is thus the protection they need to move forward. Pseudo-anonymity with technologies like Ethereum ensures decentralized blockchains by preventing hacking activity.

Without having to meet aggressive expansion requirements, ICOs bring freedom to ordinary people with the opportunity to invest in private companies.

Thus Startups do not have to navigate to a technology center to secure funding. Crowdfunding platforms like Kickstarter and Indiegogo have paved the way forward with obvious positives and negatives with risk-taking and highlighting the security breaches involved.

For example, ICO’s crowdfunding features enable investors in India to invest in revolutionary fishing techniques and growth opportunities in Indonesia and Africa, without any restriction or obligation from the respective government.

The wave of banks that have banned the purchase of cryptocurrency using their credit cards grows، as Wells Fargo is now on board with these types of bans. A number of other banks، such as Chase، Bank of America، Citigroup and more، are also part of this new trend that is restricting the purchase of Cryptos.

Debit cards، it seems، can still be used to buy crypto “check with your bank to be sure about their policy”، but using credit cards to buy crypto has taken a turn with these banks leading the way way with these purchase bans, And it probably won’t be long before this ban becomes the standard.

Seemingly overnight purchases began to be canceled when credit cards were used to buy crypto، and people who had never had a problem before buying crypto with their credit cards began to notice that they were not allowed to do so shopping on Volatility in the cryptocurrency market is the culprit here، and banks don’t want people to spend a lot of money that will become a struggle to pay back if there is a big drop in cryptocurrency like the one at the beginning of the year.

Of course, these banks will also miss out on the money that will be made when people buy cryptocurrency and the market has an upswing، but they have apparently decided that the cons outweigh the pros when it comes to this gamble with their credit cards.

This also protects the consumer as it limits their ability to get into financial trouble by using credit to buy something that could leave them with poor cash and credit.

Most investors who used credit cards to make cryptocurrency purchases were probably looking for short term gains، and had no plans to stay in for a long time. They had hoped to get in and out quickly، then pay off their credit cards before the high interest rates kicked in.

But with the continued volatility of the cryptocurrency market many who had bought with this plan in mind found themselves losing a tremendous amount of wealth as the market went down.

Now they are paying interest on the money lost, and that is never good. This, of course, was bad news for banks, and it sparked the current and growing trend of banning crypto purchases with credit cards.

The lesson here is that you should never take out a line of credit to invest in crypto، and only use a percentage of your hard assets to make crypto purchases. These funds should be funds that you can lock in for a long time without hurting your budget.

So don’t get caught putting money into cryptocurrency that you’ll soon need only to find that a crash has taken money out of your pocket. There’s an old saying that goes، “Don’t gamble with money you can’t afford to lose،” and that’s the lesson banks want people to learn as they venture into this new investment frontier.

Cryptocurrency trading software package is an integrated system to manage all aspects of cryptocurrency trading platform such as all types of buying، selling، exchanging، lending، MLM and affiliate management, conversion، comparison and analysis of direct market, etc.

Important features to consider:

Buy, Sell and Exchange: Nishue is the impressive trading management system that provides a smooth and secure methodology for your users to effortlessly buy, sell and exchange cryptocurrencies.

Lending System Management: This system is completely brokerage friendly، it has a system to manage the Crypto lending service, like creating offers management, maintenance and moderation etc.

Unique Admin Module: Nishue features a secure and advanced admin module for you to control your cryptocurrency exchange end-to-end.

Special Customer Profile: Special customer profile module that helps your users to easily track and control all deposit opening or withdrawal orders، registrations، transactions etc. with just one click.

MLM and affiliate management: These ready-made marketing automation tools make it easy to manage your affiliate commission, contribution history and documents at your level.

Market Comparison and Converter: 2 additional systems are integrated for Crypto Comparison, Conversion and Live Depth analysis.

How cryptocurrency trading software is helping your crypto platform grow:

Coin Deposit and Withdrawal: The crypto trader has to maintain huge demand for Deposits and Withdrawals every day. Software trading help to manage your activity with its automatic placement algorithm.

Coin Package and Lending Offer: Keep your different coin package and lending offer in your customer’s hand. You can create, manage and advertise your offer using a well designed package.

Level Commission Wise: If you follow the MLM strategy to reward your affiliates and are worried about setting their commission? Alright، it’s ready to automatically calculate their commission by level.

Notification and risk management: Every crypto trading platform should organize a push notification system to keep itself and its client updated on many alarming issues، thereby helping to eliminate risk. In this case، a system project is completely perfect.

Multiple Payment Gateway: You can integrate your cryptocurrency wallet, local currency، Payeer system Even Mobile Banking as a payment method within this software to make your transaction seamless.

Daily, Weekly and Monthly ROI: Are you worried about keeping your ROI as you said. This cryptocurrency trading management software can automatically calculate ROI، commission and others as per your given instruction.

Free Responsive Website: Must have a fully responsive, SEO optimized dynamic website built-in with our system and it’s completely free. This will help you manage your enterprise well.

Crypto Comparison, Conversion and In-Depth Analysis: Live crypto market cap and two-add currency converter system is integrated for live Crypto Comparison, Conversion and In Depth analysis

100% Secured System: A trading software is designed keeping in mind the issue of high security. Secure integer framework، two factor authentication and many other security systems are applied in this cryptocurrency trading software.

Absolute package exclusively for cryptocurrency spot trading that allows users to trade Bitcoin، Bitcoin Cash، Ethereum and Litecoin through Coinbase.

Built on the same technology that powers Nishue software, it includes proven market-leading tools developed over 26 years to provide professional and active cryptocurrency traders with an experience better than that currently offered by other trading solutions only with crypto.

Cryptocurrency continues to improve every day. It continues to amplify your fortune، just like your viral social media posts. A sticky financial tool for a good portfolio and a catalyst for growth. An interesting fact is that there are more than 5000 cryptocurrencies.

2021 was a fantastic year، but where do we go from here?

Let’s zoom in on the situation here. Both Bitcoin and Ethereum hit higher performance bars. Long term investors are counting on it. By the time you read this article, there may be more great news about cryptocurrency. I will try to present here the future possibilities of cryptocurrency.

New regulations are currently in force. They are under the rugs. Measures to minimize the risk from cybercriminals are in place. The goal is to make this investment a safe vehicle for people. For example: China declared in September that all cryptocurrency transactions are illegal. Clear regulations will remove all barriers to make it a safer trade.

How will the new regulations affect investors?

The IRS will have an easier time tracking tax evasion. Investors can transparently keep a log of transactions. For example: recording any capital gains or losses on crypto-assets will be easier. On the other hand, the price of cryptocurrencies will also be affected by the fluctuating market.

ETF Approval – An important factor to consider

The Bitcoin ETF made its debut on the NYSE. It will help investors buy cryptocurrencies from existing investment firms. Due to increasing demand, both equity and bond markets deal with it. Let’s look at it from an investor’s point of view.

Easier access of cryptocurrency assets helps people to buy them without any hassle. If you plan to invest in a Bitcoin ETF, remember that the risks are the same as any other cryptocurrency. You have to be willing to take the risk. Otherwise, it is a waste to invest your money.

What does the future hold?

Bitcoin is the best in the crypto market. It has the highest rate of market capitalization. In November 2021, its price increased to $69,000. In October, the rate was $61,000 while in July it was $31,000. There is a high fluctuation in market rates. Experts suggest keeping the market risk for cryptocurrencies at less than 6% in the portfolio. Speaking of short-term growth, people are hopeful. Volatility in Bitcoin prices is a factor to consider. If you want to play for the long term, short term results should not affect you.

Looking at it from an angle to enhance your wealth is not a good decision. Stick to traditional investment vehicles, except cryptocurrency. For example: if you want cryptocurrency as a means of saving for your retirement, it’s time to reconsider your decision.

Keep your investments small and diversify them. It will reduce the risk factor. At the same time, you will have more time to think about cryptocurrency.

It is necessary to spend your money wisely and then invest in cryptocurrency. The risk factor associated with it must be assessed and a decision made. I hope this article helps you.

What will the future of money look like? Imagine walking into a restaurant and looking up at the digital menu board at your favorite combo meal. Only، instead of being priced at $8.89, it’s shown as .010 BTC.

Could crypto really be the future of money? The answer to this question depends on the general consensus on several key decisions، ranging from ease of use to security and regulations.

Let’s examine both sides of the “digital” coin and compare and contrast traditional fiat money with cryptocurrency.

The first and most important component is trust.

It is imperative that people trust the currency they use. What gives value to the dollar? Is it gold? No, the dollar has not been backed by gold since the 1971s. So what is it that gives the dollar “or any other fiat currency” value? Some countries’ currency is considered more stable than others. After all، it is the people’s trust that the issuing government of that money stands firmly behind it and essentially guarantees its “value”.

How does trust work with Bitcoin as it is decentralized meaning they are not a governing body that issues the coins? Bitcoin rests on the blockchain which is essentially an online ledger that allows the entire world to view every transaction.

Each of these transactions is verified by miners “people who operate computers on a peer to peer network” to prevent fraud and also to ensure that there is no double spending. In exchange for their services in maintaining the integrity of the blockchain، miners receive a payment for each transaction they verify.

Since there are countless miners trying to make money، everyone checks each other for mistakes. This proof of work process is why the blockchain has never been hacked. Essentially, this trust is what gives Bitcoin its value.

Next let’s look at faith’s closest friend، assurance.

What if my bank is robbed or there is fraudulent activity on my credit card? My bank deposits are covered by FDIC insurance. Chances are my bank will also charge back any charges on my card that I never made. That doesn’t mean criminals won’t be able to pull off tricks that are at least frustrating and time-consuming. It’s more or less the peace of mind that comes from knowing that I will most likely be healed of any wrongdoing against me.

In crypto، there are many choices when it comes to where to store your money. It is imperative to know whether transactions are insured for your protection. There are reputable exchanges like Binance and Coinbase that have a proven track record of fixing bugs for their customers. Just as there are less than reputable banks all over the world، the same is true in crypto.

What happens if you throw a twenty dollar bill into a fire? The same is true for cryptos. If I lose my login credentials to a particular digital wallet or exchange, then I won’t be able to access those coins. Again، I cannot stress enough the importance of doing business with a reputable company.

The other issue is scalability. Currently, this may be the biggest obstacle that is preventing people from doing more transactions on the blockchain.

When it comes to transaction speed, fiat money moves much faster than crypto. Visa can handle about 42,000 transactions per second. Under normal circumstances, the blockchain can only handle about 10 per second. However, a new protocol is being adopted that will skyrocket this to 61,000 transactions per second. Known as the Lightning Network, it could result in crypto being the future of money.

The conversation would not be complete without talking about comfort. What do people typically like about their traditional banking and spending methods? For those who prefer cash، it is definitely easy to use most of the time. If you’re trying to book a hotel room or a rental car, then you need a credit card. Personally، I use my credit card everywhere I go because of the convenience, security, and rewards.

Did you know there are companies out there that offer all of this in the crypto space as well? Monaco is now issuing cards with the Visa logo that automatically convert your digital currency to local currency for you.

If you’ve ever tried to match money with someone you know, the process can be very tedious and expensive. Blockchain transactions allow a user to send crypto to anyone in just minutes، no matter where they live. It’s also much cheaper and safer than sending a bank wire.

There are other modern methods of money transfer that exist in both worlds. Take, for example, apps like Zelle، Venmo، and Messenger Pay. These apps are used every day by millions of millennials. Did you also know that they are starting to include crypto as well?

The Square Cash app now includes Bitcoin, and CEO Jack Dorsey said: “Bitcoin, for us, is not stopping at buying and selling. We believe this is a transformative technology for our industry and we want to learn as quickly as possible .”

He added, “Bitcoin offers an opportunity to get more people access to the financial system.”

While it’s clear that fiat spending still dominates the way most of us move money around, the new crypto system is rapidly gaining ground. The evidence is everywhere. Before 2018 it was hard to find mainstream media coverage. Now almost every major business news outlet covers Bitcoin. From Forbes to Fidelity, they’re all weighing in with their opinions.

What is my opinion? Perhaps the biggest reason Bitcoin can succeed is that it is fair، inclusive and gives financial access to more people around the world. Banks and large institutions see this as a threat to their very existence. They are on the losing end of the greatest wealth transfer the world has ever seen.

Still undecided? Ask yourself this question: “Are people trusting governments and banks more or less with each passing day?”

Your answer to this question may just be what determines the future of money.

Over the past few years, people have been talking a lot about cryptocurrency. At first, this business seemed scary, but people began to develop faith in it. You may have heard of Ether and Bitcoin. Both are cryptocurrencies and use Blockchain technology for the highest possible security. Nowadays، these coins are available in several types. Let’s know more about it.

How can cryptocurrency help you?

In terms of fraud, this type of currency cannot be counterfeited as it is in digital form and cannot be returned or counterfeited unlike credit cards.

Immediate solution:

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

Lower fees:

Typically, there are no transaction fees if you want to exchange Bitcoin or any other currency. For verifying a transaction، there are minors who are paid by the network. Although there are zero transaction fees, most buyers or sellers employ the services of a third party such as Coinbase to create and maintain their wallets. If you don’t know, these services work just like Paypal providing a web based exchange system.

Identification of theft:

Your merchant receives your full line of credit when you secure 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 requested amount without any additional information. So there is no chance of theft.

Open access:

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

DECENTRALIZATION:

In terms of 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 approach.

know:

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 all over the world. You can count on them.

So, if you’ve been looking for a way to invest your extra cash, you might consider investing in Bitcoin. You can either become a miner or an investor. However، make sure you know what you are doing. Safety is not an issue, but other things are important to keep in mind. Hopefully, you will find this article useful.

In the early days of its launch in 2009, several thousand bitcoins were used to buy a pizza. Since then، the cryptocurrency’s meteoric rise to US$66,000 in April 2021K after its impressive drop in mid 2018 by around 70 percent to around US$6،100، has boggled the minds of many cryptocurrency investors، traders or just the curious. . missed the boat.

How it all began?

Keep in mind that dissatisfaction with the current financial system caused the development of digital currency. The development of this cryptocurrency is based on blockchain technology by Satoshi Nakamoto, a pseudonym apparently used by a developer or group of developers.

Despite many opinions predicting the death of cryptocurrency, bitcoin’s performance has inspired many other digital currencies, especially in recent years. The success with crowdfunding brought on by blockchain fever also attracted those to scam the unsuspecting public and this has come to the attention of regulators.

Beyond bitcoin:

Bitcoin has inspired the launch of many other digital currencies, There are currently more than 1100 versions of digital currencies or tokens. Not all are the same and their values ​​vary widely، as does their liquidity.

Coins، altcoins and tokens:

Suffice it to say at this point that there are fine differences between coins, altcoins and tokens. Altcoins or alternative coins are generally described differently from the pioneer bitcoin, although altcoins such as ethereum, litecoin, ripple, dogecoin and dash are considered to be in the ‘mainstream’ category of coins, meaning they are traded on more cryptocurrency exchanges.

Coins serve as a currency or store of value, while tokens provide asset or service uses, an example being a blockchain service for supply chain management to authenticate and track wine products from the winery to the consumer.

One point to note is that low-value tokens or coins offer positive opportunities, but don’t expect similar meteoric growth as bitcoin. Simply put, lesser-known tokens can be easy to buy, but they can be difficult to sell.

Before diving into a cryptocurrency, start by studying the value proposition and technology considerations, that is, the trading strategies outlined in the white paper that accompanies any initial coin offering or ICO.

For those familiar with stocks and shares, it is no different than an initial public offering or IPO. However, IPOs are issued by companies with tangible assets and a business history. All this is done within a regulated environment. On the other hand, an ICO is simply based on an idea proposed in a white paper by a business – still in operation and without assets – that requires funds to get started.

Unregulated، so buyers beware:

“No one can fix what is unknown” probably sums up the situation with digital currency. Regulators and regulations are still trying to catch up with cryptocurrencies which are constantly evolving. The golden rule in the crypto space is caveat emptor, let the buyer beware.

Some countries are keeping an open mind by adopting an opt-out policy for cryptocurrencies and blockchain applications, keeping an eye on outright scams. However, there are regulators in other countries more concerned about the downsides than the upsides of digital money. Regulators generally understand the need to strike a balance, and some are looking to existing securities laws to try to police the many flavors of cryptocurrencies globally.

Digital Wallets: The First Step

A wallet is essential to get started with cryptocurrency. Think e-banking but minus the protection of the law in the case of virtual currency, so security is the first and last consideration in the crypto space.

Wallets are digital type. There are two types of wallets.

• Hot wallets that are connected to the Internet that put users at risk of being hacked
• Cold wallets that are not connected to the internet and are considered more secure.

In addition to the two main types of wallets, it should be noted that there are wallets for only one cryptocurrency and others for multi-cryptocurrencies. There is also an option to have a multi-signature wallet, somewhat similar to having a joint account with a bank.

The choice of wallet depends on the user’s preference whether the interest is purely in bitcoin or ethereum، as each currency has its own wallet, or you can use a third-party wallet that includes security features.

Portfolio notes:

The cryptocurrency wallet has a public and private key with personal transaction data. The public key includes a reference to the cryptocurrency account or address، not unlike the name required to receive a check payment.

The public key is available for all to see, but transactions are only confirmed after verification and validation based on the consensus mechanism associated with each cryptocurrency.

The private key can be considered to be the PIN code commonly used in e-financial transactions. It follows that the user must not disclose the private key to anyone and back up this data which must be stored offline.

It makes sense to have a minimum amount of cryptocurrency in a hot wallet, while the largest amount should be in a cold wallet. Losing your private key is as good as losing your cryptocurrency! The usual precautions regarding online financial dealings apply، from having strong passwords to being alert to malware and phishing.

Portfolio formats:

Different types of wallets are available to suit individual preferences.

• Hardware wallets made by third parties that must be purchased. These devices work somewhat like a USB device which is considered secure and only connected when required to the internet.
• Web-based wallets offered by، for example، crypto exchanges are considered hot wallets that put users at risk.
• Desktop or mobile software-based wallets are mostly available for free and may be provided by coin issuers or third parties.
• Paper-based wallets can be printed holding the relevant data for the cryptocurrency owned by public and private keys in QR code format. These should be kept in a safe place until required during the course of the crypto transaction, and copies should be made in case of accidents such as water damage or printed data fading over time.

Crypto exchanges and markets:

Crypto exchanges are trading platforms for those interested in virtual currencies. Other options include websites for direct trading between buyers and sellers, as well as brokers، where there is no “market” price but is based on compromise between the parties to the transaction.

Therefore, there are many crypto exchanges located in different countries but with different standards of security practices and infrastructure. They range from those that allow anonymous registration that only requires an email to open an account and start trading. However, there are others that require users to comply with international identity verification, known as Know-Your-Customer, and anti-money laundering “AML” measures.

The choice of crypto exchange depends on the user’s preferences, but anonymous ones may have restrictions on the amount of trading allowed or may be subject to unexpected new regulations in the country of residence of the exchange. Minimal administrative procedures with anonymous registration allow users to start trading quickly while going through KYC and AML processes will take more time.

All crypto trades must be properly processed and validated, which can take anywhere from a few minutes to a few hours, depending on the coins or tokens being transacted and the volume of the trade. Scalability is known to be a problem with cryptocurrencies and developers are working on ways to find a solution.

Cryptocurrency exchanges fall into two categories.

• Fiat Cryptocurrency Such exchanges provide for the purchase of fiat cryptocurrency through direct bank transfers or credit and debit cards, or through ATMs in some countries.
• Cryptocurrency only. There are cryptocurrency exchanges that only deal in cryptocurrencies, meaning that customers must already own a cryptocurrency – such as bitcoin or ethereum – to ‘exchange’ for other currencies or tokens, based on the market rate.

Fees are charged to facilitate the buying and selling of cryptocurrencies. Users should do their research to be comfortable with the infrastructure and security measures and to determine the fees they are comfortable with as different fees are charged by different exchanges.

Don’t expect a common market price for the same cryptocurrency with differential exchanges It may be worth spending time researching the best price for the coins and tokens you are interested in.

Online financial transactions carry risks, and users should heed warnings, such as two-factor authentication or 2-FA, staying up-to-date on the latest security measures and being aware of phishing scams. A golden rule for phishing is to not click on the links provided, no matter how authentic a message or email is.