While the majority of people have heard of Bitcoin, just 10% of them are aware of how cryptocurrencies function, let alone how they came to be. While you don’t need to be an expert on the technology, understanding how cryptocurrencies might assist your small business is vital. Improved workflows, cheaper operational expenses, decreased fraud, and better confidence among vendors and consumers are just a few of the small company benefits of “cryptos.”
As a reminder, cryptocurrencies were created in 2009 as a direct response of the financial crisis of 2008. Years of dubious advertising and usage of financial products including unfunded credit default swaps, subprime home loans, and mortgage-backed securities contributed significantly to the catastrophe. Traditional banks, investment firms, and financial institutions pushed such assets up and down, crashing the US and global economies.
Hundreds of billions of dollars in bailouts and artificial interest rate resets to zero or less were necessary to avoid a catastrophic economic catastrophe, courtesy of central banks all around the world. Those Herculean efforts were made to keep economies afloat and preserve huge banks that were deemed “too big to fail.”
The focus on protecting Wall Street by policymakers and central bankers over Main Street small enterprises and regular investors demonstrated how government budgetary blunders and botched monetary policies may have major geopolitical consequences. We’d all witnessed it, and none of us wanted it to repeat again.
Following this, an alternate monetary model was developed. It was designed to help individuals and give us a fighting chance against Big Banks and Big Finance’s “smart money” and capital limits.
Following the publishing of a white paper introducing Bitcoin and how it would function, cryptocurrencies arose. Cryptocurrencies, which are built on a tamper-proof blockchain to avoid financial nonsense, offer people financial independence and fiscal equality by trading in wallets such as Exodus Bitcoin Wallet.
Cryptocurrencies have a number of advantages, including the elimination of third-party gatekeepers like as banks, fast settlement transaction times, much decreased transaction costs, and low-friction transfers to any location with an Internet connection. Those crypto advantages can be beneficial to almost any small business.
Despite the volatility of cryptocurrencies, the fundamentals that sustain their use case and value remain unchanged. Take a look at these three macroeconomic trends that aren’t likely to go away anytime soon: Governments are continuing to create money at unprecedented levels.
In February 2020, the US Federal Reserve allowed the US Treasury to accelerate the printing of US dollars. Since then, the entire monetary supply (M2) has risen by 31% to $21 trillion in circulation in less than 18 months. It doesn’t take a Nobel Laureate in Economics to see that when money is created and poured into markets in ever-increasing volumes, the value of each individual dollar diminishes.
Stablecoins like USD Coin and Dai, which are tethered to the US dollar, have stayed stable despite the influx of cash into the market. Right now, your unused stablecoins on a cryptocurrency exchange (a desktop or mobile program for buying and selling digital coins/tokens) may generate annual percentage yields of 4 to 12%, which is a good rate of return for any small business.
Inflation is continuing to rise, and the cost of commodities is rising as well.
June’s inflation rate jumped 5.4 percent, according to the US Bureau of Labor Statistics. That was the greatest year-over-year increase in consumer goods prices since 2008. The Consumer Price Index is sometimes criticized as an incorrect measure of “actual inflation” since it is based on cost changes for a basket of goods and services, yet politicians have altered the composition of that basket at random throughout time. It isn’t a reliable criterion.
Despite these shortcomings, the 5.4 percent rise in June 2021, on top of the 5.0 percent increase in May 2021, is difficult to dismiss. Those figures don’t include the double-digit increases in housing prices, used vehicle costs, and gas prices. You’re on the front lines of inflation as a small firm, with few choices for safety. Bitcoin, on the other hand, is a potential inflationary hedge that can readily be bought or traded in fractional quantities for small firms that may require quick access to liquidity because to its scarcity of only 21 million tokens.
The Best Exchange to Buy Crypto
For today, cryptocurrency trading is one of the most relevant branches. It’s not surprising as there are a lot of professionals who managed to learn the majority of features of this field and now have a lot of profit. Nevertheless, how can a newbie get into the business? What is the best place to buy crypto? Are there any advanced services for cryptocurrency exchange? Cryptology is an answer to all the questions!
In this article, you will find out the main benefits of the Cryptology platform, its main features, how useful it can be, and many other helpful details.
The Main Benefits of Cryptology
Cryptology is an excellent service that may be useful for both inexperienced and professional traders. Due to the great combination of its functions, it helps to deal with cryptocurrency much easier and conveniently. Let’s check out the list of its largest advantages:
- Simple interface. While other platforms may confuse a user, this service is understandable for anyone. Accordingly, it will save your time that’s extremely important for crypto trading as the market changes incessantly.
- Low taxes. Using this platform, you avoid annoying payments. Fees are quite friendly and affordable to anyone.
- Large coverage of accepted countries. Some services are not available all over the globe. Furthermore, you may miss it at the early stages and waste a lot of your time on registration, verification, and other processes. Fortunately, Cryptology is available in the majority of countries.
- Leverage. The platform is provided with the leverage option that may significantly increase your profit.
- Available markets. The platform doesn’t cover too many currencies. However, it provides the most major ones, making it easier for customers to concentrate on profitable offers only.
- Simple payouts. Using the service, you don’t have to put much effort and spend too much time to draw out your funds. Instead, the process is fast, simple, and convenient.
Taxes-Free Futures Trading Services
Cryptology is one of the top BTC futures trading platforms on the market. It’s a choice of thousands of clients due to the great conditions provided by the platform. Unlike the majority of other similar services, this platform doesn’t require any fees for futures trading. Moreover, it provides a lucrative bonus of $100 for freshly registered customers. Besides, a client can increase their profit by leveraging up to 100 times!
New Passive Income Service
At the beginning of this fall, Cryptology provided the new Cryptology Earn passive income service. It’s a unique option that provides a possibility for a client to gain various cryptocurrencies. The array features many major crypto and stablecoins. The service is designed and developed perfectly allowing customers to make investments using their bank cards. It’s very easy to check out the amount of profit per day as well as make payouts or reinvestments.
The amount of profit a customer may receive depends on the preferred crypto. In this way, the bulk of stablecoins bring around 15% per year, when such cryptos as Bitcoin may bring only up to 8%. The function is worth to be checked out as all the deposits are fully free.
How to Create an Account?
The registration process provided by the platform is fast and simple. To create a profile, you need to:
- Provide your name.
- Create a username.
- Create a password.
- Fill in your email.
- Accept the rules of the service.
Alternatively, you can register via your Google account. The platform provides 2 types of accounts including:
- Global. Allow deposit and draw out cryptocurrencies and fiat money using bank cards and wire transfers.
- Trading. Allow deposit and draw out cryptocurrencies and fiat money as well. However, only cryptocurrencies are available to withdraw.
How to Verify the Account?
After you have created a profile, you need to complete the verification of your identity. Among the required points are:
- Providing a document confirming your identity. It could be a passport, national ID, or driving license. Then, make a photo of yourself with this document. After completing this step, your account will have a limit of $10,000.
- Confirming your current address. Completing this point, your profile will avoid any limits.
Exchange and Futures Platforms
Cryptology provides platforms for Exchange and Futures trading. Their main advantage is simplicity and affordability to anyone no matter how long you are in crypto trading.
- The exchange platform covers many tools to make orders. You can check out the list of your current and previous orders, the TradingView chart, and so forth. The order form is easy to understand, so it won’t be a problem for you to purchase or sell. Besides, you can set limits here.
- The exchange futures platform has similar options. Additionally, it includes the leverage function.
Payments and Taxes
Cryptology provides quite friendly trading fees of 0.002 if you sell or buy crypto online. Remember, that the value of the fee depends on the volume of trading.
Dealing with fiat, the service requires a 2.65% fee for a minimum $25 (RUB 1,000 or €20) payment if you are using bank cards (debit or credit).
The conditions for the Brazilian customers are slightly different. The amount of the fee may vary from 1.7% to 3.6% for a minimum $1 replenishment.
EUR SEPA replenishments are followed by 0.45% taxes for a € minimum 1 payment. Nevertheless, fully verified accounts can use wire transfers without any fees for a minimum $/€ 25 replenishment.
If you want to draw out fiat funds, your profile needs to be Institutional and SEPA. Such transactions have a €7 tax for a minimum €50 payout.
Cryptology Accepted Countries in 2021
For today, the service is available in almost any country around the globe. Nevertheless, still not available for users from the USA and Japan yet.
According to the latest reports, Binance won’t be available in some European countries soon. The cryptocurrency exchange is going to leave Germany, Italy, and Holland. In this way, Cryptology is the best exchange to buy cryptos which will serve as a great alternative as it plans to keep performing in these countries.
“+” Advantages of the Platform
The service has an array of undeniable benefits. The list includes:
- An efficient Technical Support Service providing help in the shortest time.
- A generous $100 promotional offer for new clients.
- Futures trading is provided with leverage reaching up to 100x.
- The platform has quite friendly limits. The amount of minimal order is only $0.10.
- Performs in almost all the countries.
“-” Disadvantages of the Platform
The service has a few drawbacks that may be fixed in the future. They include:
- Margin trading is not available on the spot exchange.
- Fiats can’t be drawn out using a trading account.
In conclusion, Cryptology is a greatly developed platform providing trading exchanges for cryptocurrency. The amount of its pros considerably exceeds any cons.
VPNs have become a popular buzzword in the world of cybersecurity in recent years. That is for a good reason, though. Many have realized the numerous benefits that come with using this type of software. You can use it to remain private online, encrypt your data, protect files, and watch geo-restricted content – the perks are endless. In this article, we will cover the most important points about VPNs, and discover why you should include it in your digital protection kit.
Do You Need a VPN?
Firstly, let’s answer the question – what is a VPN?
It stands for a virtual private network, and it is a type of software that acts as a security gateway between the user and the internet. What makes this particular software solution great is that it is multi-use, which we will discuss further in this article. In today’s age of digital exploitations, it has become a favorite tool for preserving one’s online anonymity. Most modern websites collect user data through cookies, tracking your online habits, and signup pages. Privacy is becoming more exposed, which is precisely why everyone should consider maintaining a secure online environment. .
Top 3 Benefits of Using a VPN
- It Preserves Your Online Privacy
As we have briefly touched on before, data-driven marketing has become extremely popular. Companies use their websites and signup pages to collect user data, so they would optimize their campaigns and obtain a more significant reach. Moreover, hackers have also realized the worth of this data, so they often try to cause breaches and steal it – it has a huge value on the dark web. By using a VPN, you will stop leaving a digital footprint, your IP address would remain hidden, and you would be protected from both data farming companies and identity thieves.
- You Can Score Better Prices When Shopping Online
Dynamic pricing is a rather new pricing model that utilizes different factors to display prices accordingly. So, the algorithm considers information such as geolocation, shopping habits, and how many times you’ve entered the website to create a custom price. Unfortunately, these prices are often higher, especially if you’re based in first-world countries. However, by using a VPN, you can connect to another server, or simply hide your previous shopping habits. Consequently, you will receive better prices and save a couple of bucks.
- It’s Great for Cryptocurrency Users
Because of how lucrative it is, the crypto industry has fallen victim to numerous cyberattacks. However, VPNs can help by encrypting all user data and traffic, deeming this information unusable for hackers. That means that your IP address, as well as your location, won’t be tied up with your crypto wallet address. Moreover, you will also be protected from viruses and other malicious software.
4 Tips for Choosing a Suitable Solution for Your Needs
Because VPNs have become so popular, more and more companies have started creating their own VPN-based solutions. However, because the market is becoming slowly saturated, it can be challenging to decide which provider to go with. Here are some essential tips you should take into consideration when choosing a suitable VPN solution.
- Always Go with Premium
We strongly recommend purchasing a premium VPN subscription to enjoy all the benefits fully. Although free versions can be useful for smaller tasks, such as streaming geo-restricted content, they won’t be enough for more complex tasks. Moreover, premium subscriptions offer more server locations and a more reliable internet connection.
- Compare Features
Although some features are standard for all companies, not all of them offer the same services. Look for companies that provide advanced security features, military-grade encryption, secure internet protocols, an integrated killswitch, and anonymous DNS servers.
- Look for No-Log Policies
The whole point of using a VPN is to conceal your online activities and remain anonymous online. However, some VPN companies log data for a set number of weeks because of rules and regulations they have to abide by. When choosing a suitable provider, make sure to look for companies with strict no-log policies, to ensure that your information is safe and secure.
- Beware Where the VPN Provider is Based
Some countries, such as the USA, the UK, Canada, and Sweden, belong to a pact known as the fourteen eyes. The countries have agreed to share all user data with each other’s intelligence agencies. If your particular VPN provider is based in any of these fourteen countries, your data may be subject to international sharing.
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Bitcoin is one of the most used and famous cryptocurrencies in today’s time. This was announced in the year 2008 and was launched in the year 2009 by the anonymous person who is an anonymous person who is named Satoshi Nakamoto. This was the whole new concept given by him.
Initially, the value of bitcoin was nothing, but later with time, it has earned its existence, and the value of a single bitcoin is around $40000. This is a considerable amount. The persons who had invested in bitcoins in the early stage had become billionaires today. Even this is still the future. And one should start investing in bitcoin.
Initially, when there was no digitalization, it was very difficult for people to know the concept of cryptocurrency. Still, now, with time, modernization is there, and most people today are using smartphones and digital devices. So, it is now straightforward to do transactions with the cryptocurrencies as now there are a large number of digital wallets present that can be used to earn, sell or can be used to know the statistics of the particular cryptocurrency. This is a great thing.
Basically, what are digital wallets?
Digital wallets are the ones that have been used to do transactions with bitcoins or any other cryptocurrencies. In early times, everyone had to go to the bank to do their transactions of deposit withdrawals, but now this is not the case. Digital wallets have made the life of people very easy.
There are so many benefits of using digital wallets:
- Digital wallets have made the life of people very easy as everything can be managed very easily with just a single click. The whole thing is in their hands which can be managed very easily.
- These can be used to check the prices and the price difference in the cryptocurrencies between specific periods.
- Digital wallets can be used to transfer money from one person to another in a significantly less time period.
- The transaction charges which are charged from the user are significantly less.
Even today, the technology has moved so fast that the user can make transactions with the help of debit cards. Yes, that’s true today; the user can use debit cards full of cryptocurrencies to make the transactions. The person can load his debit card on btcrevolution.io with the help of digital wallets. Digital wallets are beneficial for these purposes.
If a person wants to start investing in bitcoins, he needs his PAN card for the proof, and then he can easily sign up in his account in the application. Then he can start investing in bitcoins very easily.
Benefits of Investing in Bitcoins or any other Cryptocurrencies
- These provide users with profits in a very less time period.
- The transaction charges are very less.
- There are no middlemen in between.
- It takes very little time for the transaction to take place.
- All the transactions are completely secure and can take place very easily.
- All the transactions are made private; no one can take a view of your transactions.
Some drawbacks of using the Bitcoin Platform
There are some drawbacks to using this platform which can be easily prevented by just taking care of a few things. In this, as we know that all transactions made are private, so if the person sends the money to the wrong account, then the money cannot be retrieved at any cost. This is one of the biggest and major drawbacks. But this can be prevented if the user does the transactions carefully.
Cryptocurrencies are prevalent in today’s time. Even now, the crypto transactions can be made at ease as earlier we have discussed that there are various digital wallets that can be used to make the transactions. These are very helpful as all the features are so interesting and can be easily managed just by using your smartphone.
There are various exciting features like sending the money from one user to the other, receiving the money, and even making international transactions. As these are the universal currencies all over the world, then they can be used at any place and can be sent to anyone at your ease.
Mining cryptocurrencies used to be a viable choice for making profits in the past. But crypto entrepreneurs have swayed away from this method of acquiring crypto. They now buy bitcoins (BTC) or other cryptocurrencies and sell them for a higher price instead.
With large mining operations dominating the landscape, mining has become an increasingly difficult venture to partake in. Some may even think of it as a defunct way to acquire crypto.
However, with the recent bull run, a lot of us are asking ourselves – is crypto mining still worth it in 2021?
In this article, we will try to answer that exact question. We will consider equipment and running costs, and how to determine the profitability of your mining farm.
Before we begin, let’s go through some basics of cryptocurrency mining.
What is Cryptocurrency mining?
Mining is the process of validating transactions on the blockchain by using computing power. To do this, high-powered computers (miners) solve increasingly difficult math problems and create new data blocks of transactions.
In exchange for their efforts, miners are rewarded with new coins created through the process. This is known as a proof-of-work (PoW) consensus mechanism.
Today, mining rigs have evolved into two main categories:
- ASICs – which are expensive, specialized computers that can be used only to mine cryptocurrencies.
- GPU Rigs – Computers that contain one or more graphic cards where GPU power is used to mine cryptocurrencies. The more cards, the higher the computational power will be.
Keep in mind that certain cryptocurrencies like Bitcoin are mineable only with ASICs, while others like Ethereum can only be mined with GPUs (ASIC resistant).
Crypto Mining Global Trend
What to consider when mining cryptocurrencies?
When trying to calculate mining profitability, there are three main aspects that you need to consider:
There are several criteria to watch out for to increase your mining revenue:
- Mining Difficulty – as more miners join the network, the difficulty to mine new coins increases. If your hardware computing power (hashrate) can’t keep up, you will be mining at a loss.
- Coin switching – cryptocurrencies are a volatile asset and their price fluctuates by the minute. Miners often switch to a different coin to optimize their revenues.
- Running Costs
Maybe the most important of all three pillars in cryptocurrency mining is the operational expenses you will be facing on a daily basis. This mainly includes the costs of electricity in your region, as mining rigs are power-hungry machines.
There are also additional expenses to consider like mining pool fees, cooling fees, mining software fees, and maintenance costs.
- Investment Costs
The required equipment is the initial paywall to start cryptocurrency mining. For example, a top-of-the-line ASIC miner can cost anywhere between $1,000 and $3,000.
Older ASICs might be cost-friendly, but their inefficiency will diminish your profits considerably.
Building a GPU rig can be a more democratic venture for beginners as they are cheaper and more versatile solutions.
So is mining still profitable in 2021?
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The answer to this question cannot be answered by a simple yes or no. Making profits from mining depends on a combination of all the factors previously stated.
Let’s illustrate this by a couple of examples using the calculator found on CryptoCompare:
Bitcoin Mining Cost
Bitcoin mining for individual investors is rarely worth it anymore because of the highly competitive mining sphere.
Here’s an example of a $1500 initial investment:
- Coin Mined: Bitcoin
- ASIC : $1500
- Hashrate: 85TH/s
- Power draw: 3000 watts
- Electricity Cost: $0.12 per kWh
With these parameters, the calculator gives us a projected profit of around $5600/year. Even in this bull market, you would need a short of 3 months just to break even with your initial investment making this an extremely risky venture.
Altcoin Mining (Ethereum)
The other option is to invest in a GPU rig. GPU mining can be quite profitable if done right.
Let’s consider the same initial investment of $1500.
- Coin Mined: Ethereum Classic
- GPU Rig : $1500
- Hashrate: 170 MH/s
- Power draw: 1000 watts
- Electricity Cost: $0.12 per kWh
The results are much more appealing, with over $755 per annum. Your investment should be returning profits in just over a year.
To summarize, if you avoid ASICs, you can still make profits with a mining farm. For the average consumer, it would be unrealistic to try and compete with Bitcoin mining giants.
However, mining alternative cryptocurrencies with a GPU can still be quite profitable. Make sure you do your due diligence and use tools like BetterHash to calculate your profitability and stay on top of the competition.
Worth noting that there’s a new generation of GPUs just around the corner. Combined with the ongoing cryptocurrency bull market, it might be just the right time to start a mining farm.
In today’s time, there is a massive problem with jobs because of the great pandemic. This has made a huge number of people jobless and is even making more and more people unemployed. So, because of this reason, lots and lots of people have been engaged in investing in bitcoins or various other cryptocurrencies.
Even if any person cannot invest in bitcoin or any other crypto, he can easily earn money by working as a miner. This is a huge advantage of this platform as this provides money to the users either by investing or doing work for cryptocurrencies miners.
Investing in Bitcoin
Investing in cryptocurrency in today’s time is the best way of earning money. There are lots of people engaged in investing money in cryptocurrencies and are earning vast amounts of money. There are various reasons why a person should invest in cryptocurrencies:
- High Volatility: the prices of cryptocurrencies fall and rise very suddenly. So, if the person knows about the market very carefully, he can easily earn money from this platform.
- Ease of transactions: transactions can be done very easily in a very less time along with very few transaction charges.
- It is getting legalized in many developed countries which are developed along with various developing countries.
- This is a universal currency that can be used at any place at any time in the world.
- This does not come under any jurisdiction or the rights of any country.
- The transactions made on this platform are all private no one can ever be to know your transactions on this platform.
There are various other benefits of investing in cryptocurrencies. Even the biggest thing is that everything is discrete and straightforward. Each and everything are mentioned in the white paper. Even it is secured by cryptography. Even if there is a miner who will do any
fraud on this platform, other miners will be able to know and will not allow him to do that. This is the great level of security of the crypto platform.
Many people have excellent knowledge and skill and computational skills. Still, they cannot invest money in bitcoins or any other cryptocurrency, so there is another way of earning money for them. They can earn money by working for bitcoins or cryptocurrencies by solving mathematical problems.
Cryptocurrencies work on the principle that no single person can manage the transactions of the cryptocurrencies as this can lead to fraud or scams. A platform like this auto trading bot, is based on the method that a person with valid computational skill solves the problems and earns money in the respective cryptocurrencies. This is the best method as he can be self-employed.
All the transactions and the information are stored in the form of the blockchains in the bitcoin platform, so the stored information is stored in almost all the computers of the bitcoin miners. So, there are no chances of fraud. The first thing is that the bitcoin platform is protected from cryptography, and the second thing is that many miners in the world don’t even know each other.
So, if any of them tries to make changes to the system, then this is impossible because other miners will not let the miner do the thing. So, either the person is investing, or the person is working as a miner in both ways he is earning money in his ways.
As we have told earlier, cryptocurrency is a unique platform that provides everything at ease for the users. This is providing huge returns on investments to the users. This is providing the work to the miners to earn money in their ways and get self-employed.
Cryptocurrencies are secured by the specific security known as cryptography. Cryptocurrencies do transactions in very little time, without even including intermediaries. Crypto charge very less amount of the transaction charges from the users for the transactions to take place.
Cryptocurrencies are universal currencies and do not come under any jurisdiction so that they can be used at any place. Even this provides security to the users of the transactions.
In the cryptocurrency market, just like in traditional financial markets, bots – automated trading systems – are actively used. How they work, what are their pros and cons, and why you shouldn’t leave a bot unattended – this is what representatives of 3Commas automated crypto trading platform told us specifically.
People vs bots
According to Bloomberg, more than 80% of trades in traditional financial markets are made with the help of automated trading systems – trading robots or, simply put, bots. Traders set up bots, and they execute trades in accordance with the specified conditions.
Similar data is emerging in the cryptocurrency market. Automated trading eliminates the need to track the right moment for a deal, but also requires human attention.
Pros of trading bots:
Traders, like all humans, may find it difficult to control their emotions. The bot follows a given strategy without panic or hesitation.
With bots there is no need to constantly check the situation on the market – automatic programs do it on their own.
Bots can instantly react to market fluctuations and execute trades according to their settings. It is practically impossible for a human to place hundreds or thousands of orders in a second.
Bots do not sleep
Unlike the traditional stock market, the crypto market operates 24/7. This requires traders to be in front of the trading screen at all times. Using a bot doesn’t sacrifice sleep.
However, there is a significant “but”. Bots are able to relieve traders of many routine actions. However, you should not take them as an independent, passive source of income. Trading bots work solely on settings set by a trader. These settings require constant checking and, if necessary, adjustment.
Basic rules when trading with bots
Watch your bot.
To trade successfully using a bot, you need to control it. You should regularly check its activity: how well it operates in a particular market situation. Watch your trading pairs, analyze charts and check the news from the cryptocurrency world in order not to lose your investment.
Beware of fraudsters.
Never trust bots that promise you income after depositing cryptocurrency into their “smart contract. Real bots should only work through your account at a well-known cryptocurrency exchange. You must see all of your bot’s trades and bids. The bot cannot withdraw money from your account on its own. Permission to make transactions must always come from you – through your chosen trading strategy.
Best Bot for cryptocurrency trading
As the cryptocurrency market develops, there are more and more platforms that give you the opportunity to use trading bots. We have divided them into several types based on their key functions.
This bot track trends in the cryptocurrency market and make trades based on this information. Bots react to events and predict the movement of the asset’s value. Often, such bots provide an opportunity to set limits, upon reaching which the trade will be closed. It allows to fix profits and avoid large losses when the trend reverses. Access to the platform features depends on the plan.
- Manual trading
- Take Profit and Stop Loss
- Smart Cover
- Automated trading
- Long&Short algorithms
- Price Charts
- dogecoin calculator
- API Access
Alternative: Cryptohopper, TradeSanta.
Trading bots can save time, speed up trading activity, and help make profits. However, a bot should not be left unattended – it should be used consciously. Remember that the bot is not a trader. Only a person decides which strategy to use, as well as what and how to trade.
As we know that many people are engaged in the processes of bitcoin mining and investments. This is an excellent source of income for them. Even that crypto is now spreading all over the world because of its returns on investments along with digitalization. There are so many benefits of investing in cryptocurrencies like fewer transaction charges and time, transaction privacy and security, etc. There are various other benefits of investing in bitcoins also.
There are various factors for investing in bitcoin, but some things need to be taken care of before investing in cryptocurrencies like bitcoin. Further here, we will discuss the drawbacks of bitcoins.
Some Drawbacks to be taken care of
Some negative things need to be taken care of before investing in crypto like bitcoin.
- We will discuss the biggest drawback of bitcoin technology which comes with some benefits also. When a person does a transaction, the transaction made by him is kept by the blockchain technology private. This is preferred to be good to some extent.
But if the user does the transaction to the wrong person, this is the issue of concern. Once the transaction is made, the user cannot get the transaction history or even the person’s identity to which he has sent the money. So, this is considered to be the biggest drawback.
- The second point here is that the user should take care of his account’s username and the password of the bitcoin profit official site account. If the user forgets the password of the bitcoin account, he will be at a significant loss. If a person has bought some bitcoins and forgets the password after a few years, then his investment becomes zero on the spot, and the bitcoins remain left there. This is also a great drawback.
- The point we will discuss is not an issue of drawback, but the thing here is that bitcoin is being used for illegal activities. Some people who want to make the transactions and make them private buy some of the illegal things. This is again an issue of concern as this will majorly affect the economy and the atmosphere.
- In this, we will discuss a drawback; let’s suppose that the user’s transaction gets in between and does not get completed for any reason. Then either the transaction will get completed in a couple of minutes, or the transaction will be cancelled, and the number of bitcoins in that transaction will remain in the blockchain. It will not be returned to the user.
- Sometimes on the internet, the user allows cookies for the website. When cookies are allowed, that website is allowed to have access to your browser, which becomes a huge problem because of that access. Those websites get access to the bitcoin account, and then they can easily withdraw the bitcoins in your account, and the person can never be able to recover them as we have discussed earlier also, there is no transaction history of the payments which are done.
- This point is just about awareness. Sometimes a user is new and just starts investing in bitcoins without any knowledge. And he invests just foolishly and can lose the money either by buying crypto at high prices or by sharing the password or even by losing the password of the account.
No doubt, bitcoin is a great concept for earning money and getting self-employed, but there are some of the factors also which need to be taken care of. Suppose we see that there are many benefits, but those benefits also come along with drawbacks. The biggest benefit is that the transaction of the user cannot be screened in any way. But the dark side here is that if the money is sent to the wrong user, then it can never be revived by any method.
Secondly, the password is unchangeable so that no one can prank your account. But if the user forgets the password of the account, then there is no retrieval of the money he has invested in it. The richest investor becomes zero in a single minute.
In the old times when there was no internet or digitalization, at that time most of the users invested in the share market for investment and return motives. Even now, in this time also the older adults of 70 are still investing in the share market. But later, with time, the market has evolved very drastically, and the crowd’s focus has been shifted from the share market to the crypto market.
Reasons to invest in Cryptocurrencies
There are many reasons for the above statement, here further we will discuss the same.
- Volatility: In the case of the share market, the user needs to hold the money for an extended period of time, and after that time, there were profits but in significantly fewer amounts, and even the profit gains get dropped just because of the market fall. But in this case, if the crypto market is very volatile and the price of the cryptocurrency rises and falls at a very high rate.
If a person is investing in cryptocurrency, he will earn more money than that of the share market in the same time period.
- In the case of cryptocurrencies, the user can buy the coin in the parts very quickly. And even can sell it. If he wants to buy a whole coin, he can buy it in parts and can store it till he can buy a whole coin. But in the case of the share market, the user has to buy a full share; there is no option for buying the share from the share market in pieces.
- Another factor here is that while buying the shares, there is the thebitcoinup.io problem of buying the shares by paying commission paper charges, etc. and even it takes more time for the buying of the share whereas, in the case of the cryptocurrency, there is no such issue of brokerage or any other issue. There is one-to-one buying of the cryptocurrency; even the cryptocurrency transactions are made private compared to that of the share market; in the case of the share market, anyone can get a record of share on the user’s name.
- If there is an urgent need for the fund transfers, then, in that case, the user cannot transfer shares from one user to the other on an urgent basis. In contrast, cryptocurrency is a universal and decentralized currency that can be used to transfer from one user to the other at any time at any place.
- Transactions made by the crypto platforms are kept more private as compared to that of the share markets. All the transactions in crypto are saved in the form of the blocks and blockchain, and we all know that this is the characteristic feature of the blockchain of transaction privacy and transaction security. Whereas if we see the case of the share market, there is the issue of the transactions; if the user wants to buy or sell his shares, all the activity can be legally recorded.
- The essential and most crucial factor that comes here is the transaction fees. The transaction fees in the cryptocurrency case are very low compared to that of the share market. If a person wants to do an international transaction in cryptocurrencies, it also costs the same to the user. Where in the case of the share market, if the user wants to buy the shares in the international currency, so in that case, he has to go for the currency exchange, and then he can buy the shares which cost too high.
- If a person wants to exchange crypto from one to the other, it is effortless for the user to exchange the crypto like this, but if you see the case of share market first the user has to sell his share, and then he can buy a new share.
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Cryptology is born and is moving with complete digitalization. Whereas the share market is too old and has various traditional features. Crypto gives its users excellent facilities for less transaction time along with fewer transaction fees. It is a decentralized and universal currency, so it can be used at any place to make transactions and to transfer money.
Crypto even provides more returns on investments in a concise time period. So crypto is good to invest in as compared to that of the share market.
The capitalization of the cryptocurrency market is higher than the budget of some states. This opens up great opportunities for making money on virtual money. Cryptocurrency trading is one of the most promising ways to make a profit, along with mining.
The Future of Trading Technology
Cryptocurrency has been promising to change the way the world does finance for over a decade. However, only now has the technology really caught up to expectations. Trading is now done all over the world using blockchain technology. More importantly, it has now gone beyond just trading cryptocurrencies and extended to traditional assets trading too.
Here’s an overview of the future of trading technology that’s being built right now and the features you can expect to rule trading.
What Is Cryptocurrency Trading?
Cryptocurrency trading is simply the buying and selling of cryptocurrency tokens. It’s not too different from other forms of trading like precious metals, currencies, and stocks. The goal of trading is to buy low and sell high to make a profit. You can do this in several ways, but the most popular is to use a specially built cryptocurrency exchange.
There is one big difference, however. The cryptocurrency market is extremely volatile, probably the most volatile market that’s ever existed. The price of a cryptocurrency can both skyrocket and tank at a moment’s notice. That’s what makes it so exciting for many traders.
Features of Investing in Cryptocurrency
Out of the 11,000+ cryptocurrencies in existence, Bitcoin trading is still the most popular. It’s been revolutionizing the investment world for the last decade with its groundbreaking features.
The first is its truly limited supply. There are a total of 21 million bitcoins that will ever exist, and that’s it. Some are locked away and will be distributed to miners over time, but nobody can ever create more than that. Supply and demand determine the price, and as the demand has been growing while the supply stayed constant, the price has been going up. This is why so many investors are so excited to risk their money to invest in Bitcoin.
On top of long-term investment prospects, cryptocurrency is great for day-trading too. There are very low costs and barriers to entry compared to other traditional markets. It means people all over the world are trading and betting on the price of cryptocurrencies day-to-day.
There is another unique way to earn money with cryptocurrency called mining. It is the process of using the processing power of your computer to help secure the Bitcoin (or another crypto) network. It’s difficult to get into crypto mining, but it’s extremely profitable if you can get it right.
Trading With Tokenized Assets
One of the key innovations of blockchain technology is tokens. These are unique digital assets that live on the blockchain such as Bitcoin or Ethereum. They are cryptographically secure, can be traded instantly and seamlessly anywhere in the world, and can represent any kind of asset in the real world. That last point is important.
These new kinds of digital assets are being used to trade all kinds of real-world items. For example, Tether is a digital token that’s pegged to the US Dollar. One Tether token has the same value as one US Dollar. But, unlike US Dollars, Tether tokens can be traded instantly and almost free across the globe on cryptocurrency networks.
The same principle applies to other valuable things. You can invest in gold-backed cryptocurrencies to gain exposure to the gold price on the blockchain. Many cryptocurrency startups are issuing shares as tokens. You no longer need to be an accredited investor to profit from the rise of these new companies. You simply log in to crypto exchange and buy that startup’s tokenized shares.
There are places you can even buy stocks of such companies as Tesla, Amazon, and Apple. However, this trend has caught on so quickly that regulators are getting worried it’s causing risks for the whole stock market.
Despite the challenges, this new way of trading is extremely popular and is expected to keep growing.
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Features of Trading Technologies
Tokenized assets trading can give you the same profit as traditional investment trading, but, with a few additional benefits, too.
First, trading traditional investments as tokens allows you to trade your crypto and other assets on the same platform. You can keep track of your whole portfolio of bitcoin, crypto, tokens, gold, shares, and anything else all in the same dashboard. It makes the trading experience easy and seamless, but it also helps you keep track of everything in a uniform way to reduce your risk of bias or of missing something important.
The second feature is security. When you buy a tokenized asset, you don’t just open a position on that asset. You receive a protected token on the blockchain. However, you do need to understand one thing. Digital tokens backed by currencies, stocks, or other assets are only as good as the organization that underpins them. For example, Tether is an incredible digital token that makes it seamless to trade US Dollars, and these tokens are safe in ways that US Dollars aren’t. However, they also rely on the trust and competence of the people who run the Tether project. If the whole Tether project were to collapse, you could own a Tether token that could be worth 0 dollars instead of 1.
Last are the tools. There are countless crypto trading platforms and apps being developed as we speak. Many of them have advanced features built-in that only the top traders had access to a few years ago. Now, anyone can open an account and take advantage of advanced trading dashboards, statistics, charts, algorithms, and more.
The Future Is Now
Tokenized trading has already changed the way we think about trading and investing. It’s brought the world of finance, previously limited to a select group with special access, to the entire world. Now, anyone can buy, sell, and trade almost any asset. Moreover, they can trade faster, cheaper, and more broadly than traditional investors could ever dream to. And, the technological tools being developed are helping them do it in a sophisticated way.
This future world of trading is opening up right now. Will you take advantage of it?
If you have to deal with digital assets, to buy, sell or trade them at CEX.IO exchange, for example, you should have come across the terms hard forks and airdrops. Even if you are new to the crypto industry, studying some new terms will come in handy.
Many compelling ways exist for earning passive income through investing in cryptocurrencies. Traditional financial methods are similar to some crypto passive income methods, but some are unique to crypto. This is the case with airdrops and forks – the free distribution of certain tokens to users.
You may have mentioned once that digital currency in your wallet has increased for no reason. However, later, you have it resulting from an airdrop.
Hard forks and airdrops can be compared on some level, which sometimes leads to ambiguity among cryptocurrency holders. Both of these operations have important differences, however.
Let’s find them out together.
Cryptocurrencies offer many compelling ways to earn passive income and make profits through investing.Stephen Webb
Hard Fork: what is it and how to use it?
It’s not a secret that software protocols enable digital assets to function. The protocols may be changed periodically, and the modifications are getting incorporated once a consensus of the client permits them. This separation of existing users and new users is known as a “hard fork.”
A hard fork appears in blockchain when there is a constant split occurring as soon as the code changes. Thus, two paths appear: the one develops into the new blockchain, while the other remains the original blockchain.
Each block of the chain is handled differently as a result of the protocol changes. The modifications may be different, varying from the block size to updating for solving a hack or breach in the network. In other words, the fork occurs when the previous protocol diverges from the new one.
It’s worth adding that not every cryptocurrency wallet or exchange service supports hard forks.
Hard forks: examples
The implementation of a new blockchain protocol on an existing cryptocurrency can be complicated. Next, we’ll review airdrops, which are a common method of delivering goods.
You might find it easier to visualize these logistics with an example you are familiar with like a Windows update addressed to fix a security vulnerability. Certain users will update to the newest version of Windows as soon as it’s released, while others might opt not to upgrade for some time, leaving various versions of the operating system running on different computers.
Nevertheless, that example has two major flaws.
The software updated in newer versions is generally better. However, one of the two outcomes of crypto hard forks doesn’t necessarily mean something is better. There are often two outcomes, depending on how they are intended to be used. Users may prefer different branches of the fork depending on individual preferences. A good example of this is the Bitcoin hard fork that resulted in Bitcoin Cash (BCH) living alongside Bitcoin (BTC). Investor speculation and conversation have increased substantially when Bitcoin has forked. Several Bitcoin forks have occurred over the years, with many of them mostly going unnoticed.
The old operating system cannot be used when upgrading the computer’s operating system. Conversely, a hard fork will result in both the new and the old crypto assets.
Airdrops: what does it stand for?
Cryptocurrency airdrops occur when creators of tokens grant coins to some members of the community free of charge. This involves the distribution of cryptocurrency to a specific society of investors. The creator may offer an airdrop in the form of acquisition through an ICO or a freebie. Tokens in airdrops are traditionally distributed to owners of a preexisting crypto network, like Bitcoin or Ethereum.
Therefore, an airdrop can occur either during the pre-launch stage of a token by inserting a wallet address into the airdrop form, or by keeping an entirely different coin or token.
What’s the intention of Airdrop?
Airdrop aims to increase awareness. A buyer’s primary move in the marketing process is getting informed. The character of an airdrop is fundamentally affected by human behavior since people tend to buy commodities they are familiar with rather than ones they are unfamiliar with. An airdrop, therefore, serves the purpose of providing people with a drive of their tokens, for those in charge of issuing them. In contrast to alternative ad models (such as Google Ads), airdrops are usually a more effective way to promote cryptocurrencies.
Do the hard forks and airdrops influence the market?
A valuable new token backed by a proven protocol can be introduced to the market at every hard fork. The practice has shown that adoption is often lower than anticipated. The new token has lost a lot of value when compared to the initial coin after major hard forks have taken place in the industry.
What is more, the appearance of new altcoins on the market as well as low user adoption can make users sell new coins at a rapid pace. Therefore, the value of the stock drops sharply.
There are, however, exceptions to the rule. Thus, Decred (DCR) launched its virtual currency airdrop in 2016 and distributed about 500,000 USD. The value of the 2016 DCR token has risen from 2 euros to 170 euros today. Also, the initial cryptocurrency token sale by Squeezer (SQR) took place in 2019. Over 20,000 new users were acquired through an airdrop within an hour, which proves that airdrops can be successful in bringing on new players.
Using airdrops as a competitive tool is also possible for crypto projects. A number of airdrop campaigns have been launched by 1INCH, the maker of Uniswap’s competitor Mooniswap, to boost 1INCH’s adoption among Uniswap users.
To sum up
Blockchain protocols undergo hard forks when they alter to generate a parallel blockchain. Bitcoin Cash, the new form of Bitcoin, was a good example of this. The coins of the new blockchain are automatically distributed to users who invested in the prior blockchain before the fork.
The process of an airdrop takes place when cryptocurrency projects deposit tokens directly into a user’s wallet. Typically it happens in exchange for social media promotions or bounties. Some campaigns are designed to encourage users to adopt the system.
One thing to remember: not every digital currency wallet or exchange supports hard forks.
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ConsenSys builds, consults, and launches decentralized applications using Ethereum.
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Coinbase is a digital currency wallet service that allows traders to buy and sell bitcoin.
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Bitmain is a design and manufacture of high performance computing chips and software.
Cryptocurrency has various advantages over conventional digital payment systems. Crypto dealings usually have low processing fees, and crypto enables the ability to avoid chargebacks. It has a decentralized nature. Often people choose crypto because of privacy.
- Cryptocurrency started its journey in 2009 when Bitcoin released its open-source software system.
- Since then, Cryptocurrency has grown by leap and bounds, and its market capital reached $17.7 billion in January 2017.
- 2017 was the year when Bitcoin became the talk of the town around the world. During this time, many investors invested in it, and everyone around the world wanted to know more about the crypto-craze.
- The market capitalization increased from $17.7 billion to a whopping $565.
- 1 billion between 1-st January and 31-st December 2017. Following the success of Bitcoin, several other cryptocurrencies appeared.
- Even Facebook created its cryptocurrency named Libra.
Dating platforms accepting Cryptocurrency
As every industry is opening its arms for Cryptocurrency to lure in more customers, the best dating sites in US accept digital payments in Crypto. For example, Hookupgeek take digital payments for their services. While most dating websites are free to use, but you have to pay to use the premium features which help you find more potential matches. While one can pay for these services using a traditional system, and people usually do, but the reasons why paying with crypto should be preferred are:
- Paying with Cryptocurrency gives you more privacy
- You can quickly pay from anywhere in the world
- Cheaper costs with Cryptocurrency
Cryptocurrency gives you exceptional privacy; any transaction done with Crypto has no personal information associated with it. It cannot be tracked back to you, unlike traditional transactions. Banks take up too much personal information. Everything about you is trackable just if someone with enough authority looks at your transaction done via a credit card transfer. Still, many people turn a blind eye to all the benefits and pay with credit cards on digital dating sites. However, while accessing adult hookup sites, people are critical about their privacy and want to make secure transactions. Cryptocurrency comes in handy at such situations. Other than taking care of confidentiality, Cryptocurrency has several other benefits. Traditional transfers can become complicated once you are paying for service abroad as you would need a global payment system like Mastercard or PayPal.
Moreover, such transactions come up with hefty transfer charges. Cryptocurrency transfers are possible from anywhere in the world, and no middle man is involved in the transfer. Another astonishing advantage of Crypto transfers is the fact that they are not taxed. As no one can know the personal information of the sender and no banks or government officers are neither involved in the transaction nor can they get the details about it. Some popular dating platforms, which support Bitcoin, are Luxy, OkCupid, Badoo, and BitCoinFriendsDate. They are top dating sites.
Getting started with Crypto
Often people are afraid of learning about Cryptocurrency and shy away from all the benefits. Getting started on crypto is not that hard, and many advisors on the net can help you kick-start with ease. If you are into some dating stuff on the web, such companies aimed at providing the right tools to anyone who wants to invest time in online dating can come in handy.
For those who want to get to grips with Crypto, there an easy 4-step guide has been developed, using which anyone can step foot in the Crypto world right away. It helps its customers avoid scams and use natural methods for dealing in crypto.
There is a simple 4 step guide is given below, following which you can jump-start on your crypto ventures:
- Choosing the right exchange
- Choosing the right wallet
- Selecting the right Cryptocurrency for yourself (like Bitcoin)
- Recommendations on spending Crypto
While using dating sites, it is recommended to use Bitcoin or other Cryptocurrencies as first and foremost, and you need to protect your privacy.
Today more and more dating platforms are starting to support Crypto. When using adult hookups sites, privacy is the most critical concern, and Crypto comes in handy as people mostly want to use these services privately. Other than privacy Cryptocurrency is also going to help you save money. It provides advantages of convenience, speed, and international coverage. Stepping foot in the Crypto world may seem complicated and hard initially but benefiting from the services of trusted and leading advisors like hookupgeek will make the entire process easier for you. The dating industry nowadays breaks down the whole process for you, and you have to follow the small and easy steps. Before you know it, you can make transactions all over the world using Crypto for dating sites and other purposes. It is believed that cryptocurrency will be leading the world soon, so you need to master it as soon as possible.