The value of cryptocurrencies is rapidly increasing, In 2017 Bitcoin (BTC) grew from just under US$1,000/BTC to over US$10,000/BTC. With such growth comes an explosion in market trading & investing, which in turn helps the currency keep growing. For the market to grow new people should be educated and brought into the crypto world.
‘Cryptocurrency’ – Will make it Simple Right Now???
cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets. Cryptocurrencies are a kind of alternative currency and digital currency (of which virtual currency is a subset).
Cryptocurrencies use decentralized control as opposed to centralized digital currency and central banking systems. The decentralized control of each cryptocurrency works through distributed ledger technology, typically a blockchain, that serves as a public financial transaction database
The defining feature of a cryptocurrency, and arguably its most endearing attraction, is its organic nature; that its not issued by any central authority, rendering it theoretically immune to government interference or manipulation.
The first cryptocurrency to capture the public imagination was Bitcoin, which was launched in 2009 by an individual or group known under the pseudonym Satoshi Nakamoto. As of May 2018, there were over 17 million bitcoins in circulation with a total market value of over $140 billion. Since the release of Bitcoin, over 4,000 altcoins (alternative variants of Bitcoin, or other cryptocurrencies) have been created.
Simple & easy ways to buy some crypto coins, wonder what can i do with them.
Pick & Pay made easy Online using Crypto
In the present day,there are a lot of merchants – both online and offline who accept Bitcoin as a form of payment. They can range from massive online retailers wherein you can buy Furniture’s or Gadgets list also includes small local shops, bars and restaurants.
Overstock was the first big online retailer to start accepting bitcoins in 2014. The company allows its customers to pay for everything from laptops, TVs, pillows and ottomans with bitcoins. In fact, Overstock.com allows customers to use all the major cryptocurrencies, including Ethereum, Litecoin, Dash, Monero, and the new Bitcoin Cash.
eGifter let you to use your bitcoins to purchase gift cards for places that don’t directly accept bitcoins. eGifter is a popular gift card site and mobile app that lets users buy gift cards for all sorts of places, including Amazon, JCPenny, Sephora, Home Depot, Kohl’s and more. eGifter uses Coinbase as their bitcoin partner.
Expedia has teamed up with Coinbase to implement the new payment option. Bitcoin payment is only accepted for hotel bookings at the moment, but may be expanded to include payments for flights, activities and more.
Currently Bitcoins can be used to pay for hotels, flights, jewelry, furniture, computer parts and even get permanent residency/citizenship if reports are true.
Other digital currencies like Litecoin, Ethereum and others have not been accepted as widely currently. Things are changing for the better though, with Apple having authorized at least 10 different cryptocurrencies as a viable form of payment on App Store. Investors/Holders of Cryptocurrencies other than Bitcoin can always exchange their coins for Bitcoins. Also there are marketplaces like Bitify and OpenBazaar that only accept cryptocurrencies.
Be an Investor Today
Cryptocurrencies and the cryptocurrency market are highly volatile, speculative and experimental. Most of the projects will go to zero, the technology changes daily and you have to be comfortable with the idea of losing most, if not all, of your capital.
Based on the current downward trend of BTC, I believe we need to take that as a opportunity to invest in bitcoin & other Crypto coins, this strategy have been used by all high profile investors wherein they start putting money on stocks when the market is on a downward spiral and once it bounces back they rake the profits.
That being said, it is an exciting market that promises great potential in terms of what a decentralized internet, a trust-less economy and how future could look like.
It is a market with some of the brightest minds in the world working to build that future and has offered unprecedented returns to those willing to bare the risk and invest. So it isn’t a surprise to see more and more people looking to allocate a percentage of their funds to crypto investments.
Link to my article with simple view into crypto investing.
Investing right now into Crypto Mining
Miners are the single most important part of any cryptocurrency network, and much like trading, mining is an investment. Essentially, miners are providing a bookkeeping service for their respective communities. They contribute their computing power to solving complicated cryptographic puzzles, which is necessary to confirm a transaction and record it in a distributed public ledger called the Blockchain.
A lot of people have made fortunes by mining Bitcoins. When the revolution started you could make substantial profits from mining using just your computer, or even a powerful enough laptop. Now Bitcoin mining can only become profitable if you’re willing to invest in an industrial-grade mining hardware which incurs huge electricity bills plus price of the equipment.
Currently, Litecoins, Dogecoins and Feathercoins are some to be the best cryptocurrencies in terms of being cost-effective for beginners. But it keeps changing look into market statistics before starting mining. Also Hashflare & Genesis have attractive offers for purchasing cloud mining contracts. Click the below links for best offers.
What is cloud mining?
Cloud Mining is the process of bitcoin mining utilizing a remote datacenter with shared processing power. This type of mining allows users to mine bitcoins or alternative cryptocurrencies without having to manage their own hardware. One only needs a home computer for communications, optional local bitcoin wallets.
Below are the latest and best offers available for Crypto Cloud Mining.
HashFlare Cloud mining offers a unique option for mining with a low cost of entry as well as minimal risk and expense, which is opposite to traditional models of mining that involve procurement, maintenance and configuration of highly specialized hardware.
Advantages are listed below.
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Affordable price
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Low maintenance fees
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All payments are made on time
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ROI of 130% per year
As a cryptocurrency attracts more interest, mining becomes harder and the amount of coins received as a reward decreases. For example, when Bitcoin was first created, the reward for successful mining was 50 BTC. Now, the reward stands at 12.5 Bitcoins. This happened because the Bitcoin network is designed so that there can only be a total of 21 mln coins in circulation.
As of November 2017, almost 17 mln Bitcoins have been mined and distributed. However, as rewards are going to become smaller and smaller, every single Bitcoin mined will become exponentially more and more valuable.
All of those factors make mining cryptocurrencies an extremely competitive arms race that rewards early adopters. However, depending on where you live, profits made from mining can be subject to taxation and Money Transmitting regulations.
Genesis Mining is a company that sells bitcoin mining contracts and is currently one of the largest cloud mining company in the world. The company is active in the bitcoin community. Their services allow customers to purchase mining contracts, which allow them to mine Bitcoin and Altcoin through a cloud-based computer network. Their mining farms are based in Iceland, Canada and Bosnia.
Advantages are listed below.
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#1 trustable cloud mining service in the world
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Over 100 000 active users
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Customer protection and security
Easy Acceptance as payment (for business)
If you happen to own a business and if you’re looking for potential new customers, Accepting cryptocurrencies as a form of payment may be a solution for you.
The interest in cryptocurrencies has never been higher and it’s only going to increase. Along with the growing interest, also grows the number of crypto-ATMs located around the world. First of all, you need to let your customers know that your business accepts crypto coins. Simply putting a sign by your cash register should do the trick. The payments can then be accepted using hardware terminals, touch screen apps or simple wallet addresses through QR codes.
There are many different services that you can use to be able to accept payments in cryptocurrencies. For example, CoinPayments currently accepts over 75 different digital currencies, charging just 0.5 percent commission per transaction. Other popular services include Cryptonator, CoinGate and BitPay, with the latter only accepting Bitcoins.
We can purchase a bitcoin debit card and use it as any other card for purchases. Some of the service providers give either Mastercard or Visa cards which can be used worldwide.
Cardbit – This is a cryptocurrenсy wallet that allows purchasing Bitcoins by Debit/Credit Card, Sending Bitcoins to any Card via OCT and provides API for merchants. Benefits listed below.
- Order Your Prepaid Card and Load it with funds instantly. Use it wherever MasterCard is accepted.
- 3-D Secure transaction confirmation to add another layer of Internet environment security.
- PCI DSS compliant security standard platform in line with the latest set of requirements by PCI DSS v3.2 standard.
- 2-step verification process for increased user security.
Cryptopay is a wallet and payment platform where merchants and consumers can make transactions with each other while also being backed by the new bitcoin payment protocol.
Cryptopay users can:
- Receive, store, exchange, and send BTC, ETH, LTC and XRP.
- Buy and withdraw cryptocurrencies to your personal SEPA bank account.
- Buy BTC, ETH, LTC and XRP with a bank card.
- Order a plastic or virtual prepaid card (will be available soon).
- Open a corporate account and accept bitcoin payments from your customers.
Legality of cryptocurrencies
As cryptocurrencies are becoming more and more mainstream, law enforcement agencies, tax authorities and legal regulators worldwide are trying to understand the very concept of crypto coins and where exactly do they fit in existing regulations and legal frameworks.
With the introduction of Bitcoin, the first ever cryptocurrency, a completely new paradigm was created. Decentralized, self-sustained digital currencies that don’t exist in any physical shape or form and are not controlled by any singular entity were always set to cause an uproar among the regulators.
The authorities all over the world are worried about the cryptocurrencies’ appeal to the traders of illegal goods and services. Moreover, they are worried about their use in money laundering and tax evasion schemes.
As of November 2017, Bitcoin and other digital currencies are outlawed only in Bangladesh, Bolivia, Ecuador, Kyrgyzstan and Vietnam, with China and Russia being on the verge of banning them as well. Other jurisdictions, however, do not make the usage of cryptocurrencies illegal as of yet, but the laws and regulations can vary drastically depending on the country.
Most common cryptocurrencies
- Bitcoin— The first ever cryptocurrency that started it all.
- Ethereum— A Turing-complete programmable currency that lets developers build different distributed apps and technologies that wouldn’t work with Bitcoin.
- Ripple— Unlike most cryptocurrencies, it doesn’t use a Blockchain in order to reach a network-wide consensus for transactions. Instead, an iterative consensus process is implemented, which makes it faster than Bitcoin but also makes it vulnerable to hacker attacks.
- Bitcoin Cash— A fork of Bitcoin that is supported by the biggest Bitcoin mining company and a manufacturer of ASICs Bitcoin mining chips. It has only existed for a couple of months but has already soared to the top five cryptocurrencies in terms of market cap.
- Litecoin— A cryptocurrency that was created with an intention to be the ‘digital silver’ compared to Bitcoin’s ‘digital gold.’ It is also a fork of Bitcoin, but unlike its predecessor, it can generate blocks four times faster and have four times the maximum number of coins at 84 mln.
- Monero— A cryptocurrency with private transactions capabilities and one of the most active communities, which is due to its open and privacy-focused ideals.
How to store
Unlike most traditional currencies, cryptocurrencies are digital, which entails a completely different approach, particularly when it comes to storing it. Technically, you don’t store your units of cryptocurrency; instead it’s the private key that you use to sign for transactions that need to be securely stored.
There are several different types of cryptocurrency wallets that cater for different needs. If your priority is privacy, you might want to opt for a paper or a hardware wallet. Those are the most secure ways of storing your crypto funds. There are also ‘cold’ (offline) wallets that are stored on your hard drive and online wallets, which can either be affiliated with exchanges or with independent platforms
Ledger is one of the best hardware wallet where in you can store your cryptos safely, below link with best offer listed.
Some of the online wallets are listed below.
Cardbit – This is a cryptocurrenсy wallet that allows purchasing Bitcoins by Debit/Credit Card, Sending Bitcoins to any Card via OCT and provides API for merchants. Benefits listed below.
- Order Your Prepaid Card and Load it with funds instantly. Use it wherever MasterCard is accepted.
- 3-D Secure transaction confirmation to add another layer of Internet environment security.
- PCI DSS compliant security standard platform in line with the latest set of requirements by PCI DSS v3.2 standard.
- 2-step verification process for increased user security.
Cryptopay is a wallet and payment platform where merchants and consumers can make transactions with each other while also being backed by the new bitcoin payment protocol.
Cryptopay users can:
- Receive, store, exchange, and send BTC, ETH, LTC and XRP.
- Buy and withdraw cryptocurrencies to your personal SEPA bank account.
- Buy BTC, ETH, LTC and XRP with a bank card.
- Order a plastic or virtual prepaid card (will be available soon).
- Open a corporate account and accept bitcoin payments from your customers.
Simple & Easy way to Buy Cryptos
There are a lot of different options when it comes to buying Bitcoins. For example, there are currently almost 1,800 Bitcoin ATMs in 58 countries. Moreover, you can buy BTC using gift cards, cryptocurrency exchanges, investment trusts and you can even trade face-to-face.
When it comes to other, less popular cryptocurrencies, the buying options aren’t as diverse. However, there are still numerous exchanges where you can acquire various crypto-coins for flat currencies or Bitcoins. Face-to-face trading is also a popular way of acquiring coins. Buying options depend on particular cryptocurrencies, their popularity as well as your location.
Cryptopay is a wallet and payment platform where merchants and consumers can make transactions with each other while also being backed by the new bitcoin payment protocol.
365 cash is one of the most popular Bitcoin exchanges out there, boasting over 25,000 customers and exchanging both bitcoin and Ethereum to verified users. It is a solid platform to exchange your bitcoin or Ethereum with a credit card. 365 cash stands out as one of the fastest and easiest ways to exchange Bitcoin or Ethereum.
Paybis offers wide range of payment methods to buy sell or exchange almost any digital or cryptocurrency. Our goal is to provide our customers with the state-of-the art secure trade platform with 24/7 live support. Also you can buy Bitcoins on our website within 10 minutes using Credit card or Debit card. Just sign up, pick the best payment method for you and proceed
Cryptocurrency Benefits and Drawbacks
Cryptocurrencies make it easier to transfer funds between two parties in a transaction; these transfers are facilitated through the use of public and private keys for security purposes. These fund transfers are done with minimal processing fees, allowing users to avoid the steep fees charged by most banks and financial institutions for wire transfers.
However, because cryptocurrencies are virtual and do not have a central repository, a digital cryptocurrency balance can be wiped out by a computer crash if a backup copy of the holdings does not exist. Since prices are based on supply and demand, the rate at which a cryptocurrency can be exchanged for another currency can fluctuate widely.
Cryptocurrencies are not immune to the threat of hacking. In Bitcoin’s short history, the company has been subject to over 40 thefts, including a few that exceeded $1 million in value.
Still, many observers look at cryptocurrencies as hope that a currency can exist that preserves value, facilitates exchange, is more transportable than hard metals, and is outside the influence of central banks and governments.
Cryptos are the undisputed future of money all the signs say so..
