Beginner’s Guide: Introduction to Cryptocurrency

Introduction: To invest in cryptocurrency

The first cryptocurrency that came into existence was Bitcoin which was built on blockchain technology and was probably launched in 2009 by a mysterious man named Satoshi Nakamoto. At the time of writing this blog, 17 million bitcoins have been mined and it is believed that a total of 21 million bitcoins can be mined. Other most popular cryptocurrencies are Ethereum, Litecoin, Ripple, Golem, Civic and hard forks of Bitcoin such as Bitcoin Cash and Bitcoin Gold.
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It is advised to users not to put all the money in one cryptocurrency and try to avoid investing at the top of the cryptocurrency bubble. It has been observed that the price suddenly dropped during the peak of the crypto bubble. Since cryptocurrency is a volatile market users must invest the amount they can afford to lose as there is no government control over cryptocurrency as it is a decentralized cryptocurrency.
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Steve Wozniak, co-founder of Apple has predicted that Bitcoin is the real gold and will dominate all currencies like USD, EUR, INR, and ASD in the future and become the global currency in the coming years.
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Why and why not invest in cryptocurrency?

Bitcoin was the first cryptocurrency that came into existence and since then around 1600+ cryptocurrencies have been introduced with some unique features for each currency.
Some of the reasons I felt and wanted to share are that cryptocurrencies are built on decentralized platforms – so users don’t need a third party to transfer cryptocurrencies from one destination to another, unlike fiat currencies where a user needs to transfer money from one account to another. Bank-like platforms to Cryptocurrency is built on a very secure blockchain technology and the chances of your cryptocurrency being hacked and stolen is almost zero unless you share some of your important information.
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You should always avoid buying cryptocurrencies at the high point of a cryptocurrency-bubble. Many of us buy cryptocurrencies at their peak hoping to make a quick buck and fall victim to the bubble scam and lose their money. It is better for users to do a lot of research before investing money. It is always better to keep your money in multiple cryptocurrencies rather than one as it has been observed that some cryptocurrencies grow more, some on average while other cryptocurrencies go into the red zone.
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Cryptocurrencies to focus on

In 2014, Bitcoin occupied 90% of the market and cryptocurrencies occupied the remaining 10%. In 2017, Bitcoin still dominates the crypto market but its share has dropped from 90% to 38% and Altcoins like Litecoin, Ethereum, Ripple have grown rapidly and captured most of the market.
Bitcoin still dominates the cryptocurrency market but is not the only cryptocurrency that you need to consider when investing in cryptocurrency. Some of the main cryptocurrencies that you must consider are:







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Where and how to buy cryptocurrency?

Although it was not easy to buy cryptocurrencies a few years back but now there are many platforms available to users.
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In 2015, there are two major Bitcoin platforms in India Unocoin wallet and Zebpay wallet where users can only buy and sell Bitcoins. Users only need to buy bitcoins from the wallet and not from another person. There was a price difference between buying and selling rates and users had to pay some nominal fees to complete their transactions.
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In 2017, the cryptocurrency industry grew tremendously and the price of Bitcoin rose spontaneously, especially in the last six months of 2017 which forced users to look for alternatives to Bitcoin and crossed 14 lakhs in the Indian market.
As Unodax and Zebpay were the two major platforms in India that were dominating the market with 90% market share – which only traded in Bitcoin. This gives other companies the opportunity to grow with other altcoins and even forces Unocoin and others to add more coins to their platform.
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Unocoin, one of India’s leading cryptocurrency and blockchain company has launched UnoDAX exchange, an exclusive platform for its users to trade multiple cryptocurrencies in addition to Bitcoin trading on Unocoin. The difference between both the platforms was – Unocion was only offering instant buying and selling of Bitcoin whereas in UnoDAX, users can place an order for any available cryptocurrency and if it matches the recipient, the order will be executed.
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Other major exchanges available for cryptocurrency trading in India are Koinex, Coinsecure, Bitbns, WazirX.

Users have to open an account on any exchange by signing up with email ID and submitting KYC details. Once their account is verified, one can start trading the coins of their choice.

Before investing in any coin, users should do their research well and not fall into the cryptocurrency-bubble trap. Users must research the trustworthiness, transparency, security features and more of the exchange.
All exchanges charge some nominal fee on each transaction. There are two types of charges – maker fee and taker fee. Apart from transaction fees, one has to pay transfer fees, if you want to transfer your cryptocurrency to another exchange or to your personal wallet. Charges only depend on the coin and the exchange as different exchanges have different prices for transferring coins.

Major Altcoins Other Than Bitcoin

As mentioned above, Bitcoin is dominating the market with a 38% market share, followed by Ripple, Ethereum, Litecoin, Bitcoin Cash. Exchanges like UnoDAX, Bitfinex, Kraken, Bitstamp have listed other coins like Golem, Civic, Raiden Network, Kyber Network, Basic Attention, 0X, Augur, Monero, Tron and more. If a coin matches your portfolio then you must buy it.

But, you must put the money in the market that you can lose because the cryptocurrency market is very volatile and there is no government control over it.

When to buy?

There are no hard and fast rules when to buy your favorite cryptocurrency. But market stability needs to be researched. You shouldn’t at the top of a cryptocurrency bubble or when prices are constantly crashing. The best time is always considered when the price is stable at a relatively low level for some time.

Cryptocurrency storage method

Before buying any cryptocurrency you must understand how to keep your cryptocurrency safe.

Generally, all exchanges offer storage facilities where you can keep your coins safely. No one will share their username, password, 2FA when you deposit cryptocurrency on the exchange.

Paper wallets, hardware wallets, software wallets are some of the channels where one can store their cryptocurrency.

Paper Wallet: Paper wallet is an offline cold storage method to hold your cryptocurrency. It prints your private and public key on a piece of paper where the QR code is also printed. One needs to scan the QR code for their future transactions. Why is it safe? No need to worry about your account being hacked or any malicious malware attack. You just need to keep your piece of paper safe in a locker and if possible keep two to three pieces of paper wallet under your complete control.

Hardware Wallet: A hardware wallet is a physical device where you keep your cryptocurrency safe. There are many forms of hardware wallet but the most commonly used hardware wallet is USB. When you keep your cryptocurrency in a hardware wallet you just need to remember that you should not lose the hardware wallet because once it is lost you cannot recover your cryptocurrency.

A famous case, where a person mined 7000+ bitcoins and stored them in a hardware wallet and put them in another hardware wallet. One day he threw away the hardware wallet he used to store his cryptocurrency instead of the damaged hardware and he lost all his bitcoins.

What can be bought from cryptocurrency in India?

Most people assume that buying and selling any cryptocurrency is only for investing and getting high returns in the long and short term. Influentials and Bitcoin investors believe that Bitcoin will dominate all fiat currencies and be accepted as an international currency in the coming years.

Dell is one of the largest e-commerce businesses that accept Bitcoin as payment. Expedia and UNICEF are other examples.

In India, Sapna Book Mall was accepting Bitcoin as payment using Unocoin merchant services. People were booking movie tickets through BookMyShow or recharging their mobiles using the Unocoin platform. According to reports, they have stopped the service but are planning to resume it in the near future.


Cryptocurrency is one of the growing investment sectors and has given better returns than real-estate, gold, stock-market etc. in the past. You can buy cryptocurrency and hold for long term to get excellent returns or go short term for quick profit as we have seen many coins grow at 1000%+ in the past. Since cryptocurrency is a volatile market and the government has no control over the industry. One must invest an amount in any cryptocurrency that they can afford to lose.

You can store your cryptocurrency in a hardware wallet, paper wallet, software wallet if you don’t want to keep it on the exchange you are trading from.

How to Trade Cryptocurrencies – The Basics of Investing in Digital Currencies

Whether it’s the idea of ​​cryptocurrencies or diversifying their portfolios, people from all walks of life are investing in digital currencies. If you’re new to the concept and wondering what’s going on, here are some basic ideas and considerations for investing in cryptocurrency.

What cryptocurrencies are available and how do I buy them?

With a market cap of around $278 billion, Bitcoin is the most established cryptocurrency. Ethereum ranks second with a market cap of over $74 billion. Apart from these two currencies, there are many other options including Ripple ($28B), Litecoin ($17B) and MIOTA ($13B).

Being the first to market, there are many exchanges around the world to trade Bitcoin. BitStamp and Coinbase are two well-known US-based exchanges. Bitcoin.de is an established European exchange. If you are interested in trading Bitcoin along with other digital currencies, then a crypto marketplace where you will find all digital currencies in one place. Here is a list of exchanges according to their 24-hour trade volume.

What options do I have to save my money?

Another important consideration is the storage of coins. One option, of course, is to store them on the exchange where you buy them. However, you need to be careful when choosing an exchange. The popularity of digital currencies has resulted in many new, unknown exchanges popping up everywhere. Take the time to do your due diligence so you can avoid scammers.

Another option you have with cryptocurrencies is that you can store them yourself. One of the most secure options for storing your investments is a hardware wallet. Companies like Ledger also let you store bitcoins and other digital currencies.

What is the market like and how can I learn more about it?

The cryptocurrency market fluctuates a lot. The volatile nature of the market makes it more suitable for long-term play.

There are many established news sites that report on digital currencies, including CoinDesk, Business Insider, Coin Telegraph, and Cryptocoin News. In addition to these sites, there are many Twitter accounts that tweet about the digital currency, including @BitcoinRTs and @AltCoinCalendar.

Digital currencies aim to disrupt traditional currency and commodity markets. While these currencies still have a long way to go, the success of Bitcoin and Ethereum has proven that there is real interest in the concept. Understanding the basics of cryptocurrency investing will help you get on the right track

Best Bitcoin Trading Platform

Cryptocurrencies have not only provided the fastest way to transfer money, but also a new entity to trade stocks and other commodities and make money. While you can sell and buy bitcoins directly, you can use bitcoin trading exchanges to conduct your business in cryptocurrency. There are many exchanges where Bitcoin trading is safe and secure and customers are offered many enhanced services. Being a cryptocurrency investor or trader you can choose any exchange for your convenience. However, it is recommended to peek into some reviews before opting out Below is a brief review of the top Bitcoin exchanges in the world

CoinBase: This is probably one of the most reputable and largest bitcoin trading exchanges with dual benefits trading directly and via wallet. CoinBase was founded in 2012 by Y-Combinator’s venture search and has grown rapidly since then. It has many beneficial services such as multiple cash deposit and withdrawal options, instant money transfer between two coinbases, wallet facility with multiple signature options for more secure transfers, Bitcoin deposits are insured against any loss, etc. CoinBase has a variety of payment partners. Europe and the US, who allow transactions to run through them seamlessly. It has relatively low transaction fees and offers a large amount of Altcoin trading in addition to Bitcoin trading.

CEX.IO: One of the oldest and reputed exchanges started in 2013, London Bitcoin Trading Exchange and also as Cloud Mining Facilitator. Later its mining capacity increased so much that it held almost half of the network’s mining capacity; However, it has now been discontinued. “CEX.IO” allows customers to expand their Bitcoin trading to a much larger scale and has the advantage of instantly making Bitcoins available at the requested price. However, this exchange charges a bit higher exchange rate, yet this is compensated for by the security and convenience of allowing multi-currency transactions (dollars, euros and rubles) for buying bitcoins.

Bitfinex: This is one of the most advanced trading exchanges and is especially suitable for experienced crypto-currency traders. With higher liquidity for Ethereum as well as Bitcoin, this exchange has better options such as leveraging, margin funding and multiple order trading. Apart from this Bitfinex offers customizable GUI features, many order types like limit, stop, trailing stop, market etc. This exchange also offers around 50 currency pairs that can be traded and withdrawn easily for everyone. Bitfinex, one of the largest exchanges in terms of trading volume, offers pseudonyms for trades and only requires identification for some services. The only drawback of this exchange is that it does not support buying Bitcoin or any other altcoin via fiat transactions.

Bitstamp: It was founded in 2011 and is one of the oldest exchanges offering cryptocurrency and bitcoin trade. The most respected cause despite being the oldest has never faced a security threat and has been in recent times. Bitstamp currently supports four currencies Bitcoin, Ethereum, Litecoin and Ripple and is available for trading from the website as well as the mobile app. It has nice support for European users or traders who have their accounts in Euro banks. Security is enhanced and cold storage type, meaning coins are stored offline So you can say that it is completely impossible for a hacker to penetrate Finally its uncomplicated user interface suggests that it is not for novice users but for professionals and it offers relatively low transaction fees.

Kraken: This is one of the largest Bitcoin trading exchanges in terms of liquidity, Euro crypto trading volume and trading statistics for Canadian Dollar, USD and Yen. Kraken is the most respected exchange that manages to navigate through the turbulence of cryptocurrency trading and at the same time manages to keep customer volumes safe regardless of other exchanges being hacked. With 14+ cryptocurrency trading facilities, users can deposit fiat and cryptocurrency with the same ability to withdraw. However, it is not suitable for beginners yet it has better security features and lower transaction fees than CoinBase. The most important thing for Kraken is that it is trusted in the community and has been the first to display volume and price on Bloomberg Terminal.

Crypto Currency vs. Fiat Currency

Crypto Currency vs. Fiat Currency

Are you aware of fiat currency and crypto currency? Both of them are currencies in one form or another and are open for public use all over the world. But they both are different and distinct in their own way. There is always one group that favors the use of crypto, while the other group has a soft corner for fiat currencies.

In cashless society- crypto money plays a huge role

If you look at the markets of the 1970s and 1980s, you will see that cash played a dominant role. But, with the change in technology, electronic transactions have become the norm. Today, more and more people are becoming a cashless society. With the move towards a cashless society, cryptocurrencies have a big role to play

Cryptocurrencies and fiat currencies are always at the loggerhead

Cryptocurrencies and fiat currencies are popular types of digital currencies, especially when it comes to an online transaction. They are both currently used currencies in the market but there are some differences between them. You will hear a lot of hype on a daily basis comparing crypto money and fiat money. This article is more comprehensive and will clearly highlight the difference between the two.

What difference does the currency stand for?

Before going for the difference between the two, you must understand what they stand for and how they are defined.

Fiat currency is legal tender backed by a central government and operates in physical form. For example, US Dollar, British Pound, Euro etc. Cryptocurrencies, on the other hand, are non-legal tender, and have no backup from central governments or banks.

So, the difference between crypto currency and fiat currency is mentioned as follows:

• Crypto-currencies are decentralized and global in nature. There is no entity or government that controls the currency with their laws and regulations. Fiat currencies are centralized under the control of banks and government laws and regulations.

• Crypto-currencies exist only in the digital domain. On the other hand, you will find that fiat currencies have a real and physical existence.

• There is a limited supply of crypto-currencies with a maximum set being supplied to the market. Whereas, there is an unlimited supply of fiat money because governments and banks are entitled to produce coins and paper money whenever the situation calls for it.

• Bitcoin and other crypto-type currencies are created by computers, while fiat currencies are issued by local governments and banks.

• Cryptocurrencies are represented as public and private code fragments. On the other hand, fiat currencies are presented in the form of coins and paper money.

• Crypto currency value is not recognized by market supply and demand. Whereas, the value of fiat currency is determined by the market rules of supply and demand.

Different types of crypto and fiat currencies

Over the past decade, the popularity of crypto-type currencies has emerged as a huge success. It was in 2009, when Bitcoin was first launched, and a few years later other types of crypto currencies emerged. Starting with Litecoin. Dogecoin, Ripple to the Dcash and Zcash, there are more On the other hand, fiat currency has rich and ancient roots, with the Great British Pound, which dates back to 775 AD. It is considered to be the world’s oldest currency still in use.

Anonymous differences between two currencies

When you are using fiat currency, you must go through a user identification or verification process. You are asked to upload a recent photograph of yourself and some necessary documents issued by the government authorities. You don’t have to go through any process required with crypto currency. Although your personal information and confidential details are not public, all your transactions are recorded and tracked in both fiat and crypto currencies.

Fiat Currencies vs. Crypto Currencies: Levels of Transparency

• The level of transparency is considered to be higher with crypto type currencies. This is because revenue streams appear on a public chain Everyone can witness their own and others’ transactions.

• Fiat or Govt. Currencies are not transparent, as there is no public chain to see the flow of people’s revenue.

A comparative historical root

If you compare crypto money with its counterpart, fiat or official currency, you will see that their existence and creation makes a difference. Fiat, or official currency, began its existence as early as 775 AD with the introduction of the Great British Pound. This is why fiat type currency is easily accepted by people everywhere.

On the other hand, crypto coins were probably first introduced just over a decade ago with the introduction of Bitcoin in 2009. The challenge that Bitcoin and other cryptocurrencies face is the massive popularity and growing fan base of fiat currencies. . Cryptocurrency, no doubt, is gaining importance and popularity in the economic market, but it is still not widely accepted in the society as fiat currency.

Comparative history of the two currencies:

• It was in the 11th century, when the Chinese Song dynasty was probably the first to issue paper money. Bartering with valuables such as gold and silver or silk was not allowed.

• There were tally sticks that were introduced as fiat or official currency. 1100 tally sticks were introduced as a war for gold shortage.

• 1971, the year, when fiat currency gained worldwide recognition. President Nixon introduced it to eliminate the dollar pegging system to gold.

• It was in 1998, when the concept of an anonymous electronic cash system was conceived by Wei Dai. BitGold—The first cryptocurrency was created by Nick Szabo, but it didn’t get as much attention as Bitcoin.

• In 2009, Bitcoin was launched in the market, it was the first crypto currency to be accepted around the world. In and after 2011, a series of other crypto currencies were launched. Some of the popular ones include Litecoin, Dogecoin, Ethereum, Ripple, Zcash, Dash etc.

Features of both currencies

It is important to access the potential of crypto type currencies and fiat currencies, their features. You will find that on some criteria, Bitcoin and other crypto currencies are superior to fiat or official currencies, and in some cases, surpass the latter. It is absolutely your call to choose the type of currency (crypto type currency or fiat type currency) based on your personal needs and requirements.

Let’s compare their features with respect to some factors.

• Both crypto coins and fiat currencies are fungible in nature.

• Both currencies secure more or less the same position in terms of portability.

• In terms of immutable criteria, crypto currencies and fiat type currencies have equal status

• Crypto type currencies have high stability compared to fiat-currencies with medium level of stability.

• Both crypto or virtual currency and fiat or official currency ensure safe and secure transactions and exchanges.

• Crypto or digital currency is highly divisible in nature. On the other hand, fiat currencies are moderately divisible.

• In terms of transaction process, crypto currencies are simple and hassle free. On the other hand, the traction process associated with fiat currencies is simple, but not like that of cryptos.

• Crypto based currencies are decentralized and global in nature, unlike fiat currencies which are centralized and operate under government laws and regulations.

• Crypto based currencies have high scarcity, whereas fiat currencies are unlimited as governments can issue coins and paper money whenever needed.

• Crypto based currencies are based on mathematical algorithms and are programmable. Fiat currencies are not programmable at all.

• Fiat currencies are sovereign in nature, while crypto currencies are not

Functionality of the currency

You can find significant differences between crypto or digital currency and fiat currency in the way they both work and the transaction process takes place. They are contrary to nature. Transferring money using Bitcoin is very fast, and you need absolutely no third party agency.

On the other hand, if you are involved in money exchange using fiat type currency, then a mobile wallet is being used. You can exchange an amount of e-money which is transferred to an amount of equal e-value. Both fiat and crypto currencies enable you to buy anything you want. But the processes involved are quite different from each other.

Depending on the things you buy, you may find that one form of currency is better than another. It is absolutely your choice.

Is Bitcoin, a crypto-currency better than a fiat-currency?

Bitcoin’s long-term benefits and potential are yet to be established. But as predicted by cryptocurrency gurus and experts, they will go far, especially revolutionizing the way online transactions are done. In the current market, Bitcoin mainly includes, but is not limited to, online casinos and gambling.

Additionally, when you compare fiat currencies, Bitcoin allows you to take away power and authority from banks and governments because it is not regulated. Cryptography based currencies have the ability to create or generate free market capital. Fiat currencies are affected by inflation and market fluctuations, unlike crypto-based currencies. Such aspects lead people to believe that cryptographic based currencies will soon overtake mainstream currencies and bring about a transformation in the way money is used.

Why is Bitcoin considered better than fiat currency?

• Bitcoin allows you to recreate a free market capitalism.

• The power to control money rests entirely with individuals, and not with banks as with fiat type currencies.

• When there is an inflation, Bitcoin is not affected. But fiat type currencies will be easy to lose and be influenced by.

• Bitcoin currency is easier to exchange and transfer than fiat or government currency.

• The transaction fees involved with Bitcoin are very cheap and easily affordable.

Crypto currency seems to be a favorable option among people

Fiat type currencies are centralized and legal means of money exchange. But, crypto currencies have gained huge popularity in the last few years. There will be no one to act as a middle man as in the case of banks. Moreover, cryptos are much cheaper and less expensive than conventional fiat currencies.

Send money anywhere directly without waiting for bank approval

You can send money directly to anyone in the world, and it’s super fast. Money clears within minutes. You don’t have to wait for the banking system’s traditional clearing and verification process, which can take days to get clearance. Since it is decentralized and not subject to government laws and regulations, no one has the power to do anything with your account.

Blockchain technology has a very big role to play

Thanks to crypto currencies, which give us the power and authority to be our own banks and take control over our money. This is due to blockchain technology that provides a high level of sophistication when dealing with money. In fact, there are some mainstream financial industries that are beginning to incorporate the concept of technology.

Cryptocurrency: The FinTech Disruptor

Blockchain, sidechain, mining – the terms keep piling up by the minute in the secret world of cryptocurrency. While introducing new financial terms into the complex world of money seems absurd, cryptocurrencies provide a much-needed solution to one of the biggest annoyances in today’s money markets – the security of transactions in a digital world. Cryptocurrency is a defining and disruptive innovation in the fast-paced world of fin-tech, a relevant response to the need for a secure medium of exchange in the days of virtual transactions. At a time when deals are just numbers and numbers, cryptocurrency offers to do just that!

In the most basic form of the term, cryptocurrency is a proof-of-concept for alternative virtual currencies that promise secure, anonymous transactions through peer-to-peer online mesh networking. Misnomer is more of a property rather than an actual currency. Unlike everyday money, cryptocurrency models operate without a central authority as a decentralized digital process. In a distributed cryptocurrency mechanism, money is issued, managed and approved by a collective community of peer networks – known as continuous activity. mining Successful miners on peer machines also receive coins in appreciation of their time and resource usage. Once used, transaction information is broadcast to the network’s blockchain under a public-key, preventing each coin from being spent twice by the same user. Blockchain can be thought of as a cashier’s register. Coins are secured behind a password-protected digital wallet representing the user.

In the world of digital currencies the supply of coins is pre-determined, free from manipulation by any individual, organization, government agency and financial institution. The cryptocurrency system is known for its speed, as transactions through digital wallets can generate funds within minutes compared to traditional banking systems. It is also largely immutable by design, reinforcing the concept of anonymity and eliminating the possibility of money being traced back to its original owner. Unfortunately, the main features – speed, security, and anonymity – have also made crypto-coins the mode of transaction for numerous illegal businesses.

Just like real world money markets, currency rates fluctuate in the digital currency ecosystem. Due to the limited supply of coins, the value of the coin increases as the demand for the coin increases. Bitcoin is by far the largest and most successful cryptocurrency, with a market cap of $15.3 billion, occupying 37.6% of the market and currently priced at $8,997.31. Bitcoin hit the currency market in December 2017, trading at $19,783.21 per coin before taking a sudden plunge in 2018. The decline is partly due to the rise of alternative digital coins such as Ethereum, NPCcoin, Ripple, EOS, Litecoin and MintChip.

Due to hard-coded limits on their supply, cryptocurrencies are considered to follow the same principles of economics as gold – prices are determined by limited supply and fluctuations in demand. With constant fluctuations in exchange rates, their stability is still to be seen. As a result, investing in virtual currencies is more speculative than a daily currency market at this point.

In the wake of the Industrial Revolution, this digital currency is an essential part of technological disruption. From the perspective of a casual observer, this rise can seem at once exciting, threatening, and mysterious. While some economists remain skeptical, others see it as a power revolution in the financial industry. Conservatively, digital coins are set to displace about a quarter of national currencies in developed countries by 2030. It has already created a new asset class alongside the traditional world economy, and a new set of investments will emerge from cryptofinance in the coming years. Recently, Bitcoin has taken a dive to give the spotlight to other cryptocurrencies. But this does not indicate a crash for cryptocurrencies. While some financial advisors emphasize the government’s role in cracking down on the secretive world to regulate the central governance mechanism, others insist on continuing the current free-flow. The more popular cryptocurrencies are, the more scrutiny and regulation they attract – a common paradox that distorts the digital note and erodes its primary purpose for existence. Either way, the lack of middleman and supervision is making it significantly attractive to investors and has led to massive changes in day-to-day trading. Even the International Monetary Fund (IMF) fears that cryptocurrencies will displace central banks and international banking in the near future. After 2030, regular trade will be dominated by crypto supply chains that offer less friction and more economic value between technologically adept 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 social criteria. It needs to be hacker-proof, consumer-friendly and comprehensively secured to deliver its fundamental benefits to the mainstream financial system. It should not be a channel for money laundering, tax evasion and internet fraud but should keep the user anonymous. Because they are essential to digital systems, it will take a few more years to see if cryptocurrencies will be able to fully compete with real-world currencies. While this may happen, the success (or lack thereof) of cryptocurrencies in meeting the challenge will determine the fate of the currency system in the days ahead.

Getting started with cryptocurrencies

Investing in the cryptocurrency market space is often complicated, especially for traditional investors. This is because investing directly in cryptocurrency requires adopting new technologies, tools, and some new concepts.

If you decide to dip your toes into the cryptocurrency world, you need to have a clear picture of what to do and what to expect.

Whether it’s Bitcoin, Litecoin, Ethereum or any of the 1300 tokens, buying and selling cryptocurrencies requires you to choose an exchange that deals in the products of your choice.

Being the most famous decentralized cryptocurrency, Bitcoin dominates the crypto space so dominantly that the terms crypto and bitcoin are sometimes used interchangeably. However, the fact is that there are other cryptocurrencies that can be relied upon for crypto-investing.


Litecoin, also referred to as the ‘golden silver of Bitcoin’, is an open source decentralized payment network that works without involving intermediaries.

How does Litecoin differ from Bitcoin? Well, both are similar in many ways, but Litecoin’s block generation is much faster than Bitcoin’s. This is opening up investors around the world to adopt Litecoin.

Charlie Lee, a former Google engineer founded Litecoin in 2011. Although Litecoin lacks the anonymity technology of Bitcoin, recent reports have shown that Litecoin is preferred after Bitcoin due to its persistence. Another factor in Litecoin’s favor is the Bitcoin SegWit technology which means secure peer-to-peer trading of the currency without exchange participation.


Launched in 2015, Ethereum is a decentralized software platform that enables distributed applications and smart contracts to operate without third-party intervention. The currency is Ether which is like an accelerator within the Ethereum platform. The leading cryptocurrency space, Ethereum. Second most popular choice after Bitcoin.


Zcash gained attention in late 2016 and focused on solving the problem of anonymous transactions. To understand the currency, let’s say “If Bitcoin is to HTTP for money, Zcash is to HTTPS”.

The currency offers protected transaction options to maintain transaction transparency, privacy and security. This means investors can transfer data in encrypted code form.


Originally known as Darkcoin, Dash is a more selective version of Bitcoin. It was launched in January 2014 by Evan Duffield under the name Xcoin. It is also known as Decentralized Autonomous Organization or simply DAO. The coin was intended to remove all existing limitations of Bitcoin. Currently, Bitcoin has gained a significant position in the cryptocurrency space.

Alternatives to virtual currencies that promise secure and anonymous transactions through peer-to-peer networking are cryptocurrencies. The key to making a lot of money is making the right investment at the right time. Compared to everyday money making, cryptocurrency models work as a decentralized digital process without involving any middlemen. In this distributed cryptocurrency mechanism, continuous operations are issued, managed and approved by a community peer network. Cryptocurrencies are known for faster transactions in any other mode such as digital wallets and other mediums.

Apart from the above discussed, other top cryptocurrencies include Monero (XMR), Bitcoin Cash (BCH). EOS and Ripple (XRP).

While Bitcoin is the trendsetter and leading the race, other currencies have also established their important position and are growing in popularity every day. Considering the trend, other cryptos should be around for a long time and may soon give Bitcoin a real hard time to maintain its position.

If you have decided to make a speculative investment in this disruptive technology and want to receive all current and future recommendations, connect with “The Top Coins”.

A Brief History of Bitcoin

Bitcoin is the world’s leading cryptocurrency. It is a peer-to-peer currency and transaction system based on a decentralized consensus-based public ledger called blockchain that records all transactions.

Now Bitcoin was designed by Satoshi Nakamoto in 2008 but it is a product of decades of research on cryptography and blockchain and not the work of just one person. Having a limitless, decentralized currency based on blockchain has been the dream of cryptographers and free trade advocates. With the growing popularity of Bitcoin and other altcoins around the world, their dream has now become a reality.

Now in 2009 the cryptocurrency was first placed on a consensus-based blockchain and was traded for the first time in the same year. In July 2010, the price of Bitcoin was only 8 cents and the number of miners and nodes is quite small compared to thousands right now.

In the space of a year, the new alternative currency has risen to $1 and it is becoming an attractive prospect for the future. Mining was relatively easy and people were making good money and in some cases even getting paid with it.

Within six months, the currency had doubled again to $2. Although the price of Bitcoin is not stable at a certain price point, it has been showing this pattern of insane growth for some time. At one point in July 2011, the currency stalled and achieved a record-high $31 price point but the market soon realized that it was overvalued compared to the gains made on the ground and it corrected it back to $2.

December 2012 saw a healthy rise to $13 but soon, the price was going to explode. In the four months to April 2013, the price rose to $266. It later corrected itself back to $100 but this astronomical rise in price catapulted it to stardom for the first time and people started debating about a real real-world scenario with Bitcoin.

That’s when I got introduced to the new currency. I had my doubts but the more I read about it, the clearer it became that the currency is the future because there is no one to manipulate it or impose itself on it. Everything had to be done with complete consensus and that is what made it so powerful and liberating.

So 2013 was a breakthrough year for the currency. Large companies began publicly advocating bitcoin adoption, and blockchain became a popular topic for computer science programs. Many thought at the time that Bitcoin had served its purpose and now it would settle down.

But, as the currency became more and more popular, Bitcoin ATMs were installed around the world and other competitors began to flex their muscles in different corners of the market. Ethereum created the first programmable blockchain and Litecoin and Ripple launched themselves as cheaper and faster alternatives to Bitcoin.

The magical figure of $1000 was first breached in January 2017 and has already quadrupled since then till September. This is a truly remarkable achievement for a coin that was worth only 8 cents just seven years ago.

Bitcoin even survived a hard fork on August 1, 2017 and has risen nearly 70% since then, even as the fork Bitcoin Cash has managed to post some success. It’s all because of the coin’s appeal and the stellar blockchain technology behind it.

While conventional economists argue that this is a bubble and the entire crypto world will collapse, this is not the case. There is no such thing as a bubble since it is an observable fact that it actually eats up fiat currency and money trading corporation shares.

The future of Bitcoin is extremely bright and it is never too late to invest in it, both in the short term and long term.

Has cryptocurrency become every Indian’s dream investment?

Rich rewards often come with great risk, and the same is true of the highly volatile cryptocurrency market. The uncertainty of 2020 has increased the interest of the global trading public and large institutional investors in cryptocurrency, a new age asset class. Growing digitization, flexible regulatory frameworks, and the lifting of Supreme Court bans on banks dealing with crypto-based firms have seen more than 10 million Indians invest in the past year. Several major global cryptocurrency exchanges are actively exploring the Indian crypto market, which has been showing a steady increase in daily trading volume over the past year as many investors look to buy value. As the cryptocurrency craze continues, many new cryptocurrency exchanges have come up in the country that enable buying, selling and trading by providing functionality through user-friendly applications. WazirX, India’s largest cryptocurrency trading platform doubled its users to one million between January and March 2021.

What is driving the world’s largest crypto exchanges in the Indian market?

In 2019, the world’s largest cryptocurrency exchange by trading volume, Binance acquired Indian trading platform, WazirX. Another crypto start-up, CoinDCX has secured investments from Seychelles-based Bitmex and San-Francisco-based giant Coinbase. Crypto and blockchain start-ups in India attracted USD99.7 million in investments by June 15, 2021, up from around USD95.4 million in 2020. Over the past five years, global investment in the Indian crypto market has grown by a whopping 1487%.

Despite India’s ambiguous policy, global investors are betting big on the country’s digital currency ecosystem due to various factors such as

• Tech-savvy Indian population

The core population of 1.39 billion is young (average age between 28 and 29 years) and tech-savvy. While the older generation still prefers to invest in gold, real estate, patents or equities, newcomers are embracing high-risk cryptocurrency exchanges because they are more adaptable. India ranks 11th in Chainalysis’ 2020 report list for global crypto adoption, which shows the excitement about crypto among the Indian population. Neither the government’s less friendly attitude towards crypto nor the rumors surrounding crypto are able to shake the confidence of the youth population in the digital coin market.

India offers the cheapest internet in the world, with a gigabyte of mobile data costing around $0.26 and a global average of $8.53. Thus, nearly half a billion users are taking advantage of affordable internet access, boosting the potential of becoming one of the largest crypto economies in the world. According to SimilarWeb, the country is the second largest source of web traffic to peer-to-peer bitcoin trading platform, Paxful. While the mainstream economy is still struggling from the “epidemic effect”, cryptocurrency is gaining momentum in the country as it offers the younger generation a new and faster way to earn money.

It’s safe to say that cryptocurrency could be to Indian millennials what gold is to their parents!

• Emergence of fintech start-ups

The cryptocurrency craze led to the emergence of multiple trading platforms such as WazirX, CoinSwitch, CoinDCX, ZebPay, Unocoin and many more. These cryptocurrency exchange platforms are highly secure, accessible across multiple platforms and allow instant transactions, providing a friendly interface for crypto enthusiasts to buy, sell or trade digital assets limitlessly. Many of these platforms accept INR for purchases and trading fees are as low as 0.1% so simple, fast and secure platforms present a lucrative opportunity for both first-time investors and local traders.

WazirX is one of the leading cryptocurrency exchange platforms with over 900,000 users providing customers with peer-to-peer transaction capabilities. CoinSwitch Kuber provides the best cryptocurrency exchange platform for Indians and is ideal for beginners as well as everyday workers. Unocoin is one of the oldest cryptocurrency exchange platforms in India that accounts for over a million traders through mobile applications. CoinDCX offers users 100+ cryptocurrencies as an exchange option and even provides insurance to investors to cover losses in case of security breaches. Hence, global investors are looking at the plethora of cryptocurrency exchange platforms in India to take advantage of the emerging market.

• Mixed response from the government

A legislative bill regarding bans against virtual currencies that would criminalize anyone engaged in the possession, issuance, mining, trading and transfer of crypto assets may be enacted into law. However, Finance and Corporate Affairs Minister Nirmala Sitharaman allayed the concerns of some investors by saying that the government does not plan to completely stop using cryptocurrencies. In a statement to Deccan Herald, a leading English newspaper, the finance minister said, “From our side, we are very clear that we are not closing all options. We will allow certain windows to experiment on blockchain, bitcoins, or cryptocurrencies.” It is clear that the government is still assessing the national security risks posed by cryptocurrencies before deciding on an outright ban

In March 2020, the Supreme Court overturned the central bank’s decision to ban financial institutions from dealing in cryptocurrencies, prompting investors to enter the cryptocurrency market. Despite lingering fears of bans, transaction volumes continue to grow, and user registrations and money flows to local crypto-exchanges are 30 times higher than a year ago. One of India’s oldest exchanges, Unocoin added 20,000 users in January and February 2021. Zebpay’s total volume per day in February 2021 equaled the volume generated in the entire month of February 2020. Addressing the cryptocurrency situation in India, the finance minister said in a CNBC-TV18 interview, “I can only give you this clue that we are not closing our minds, we are looking at ways in which experiments can happen in the digital world and cryptocurrency.”

Until the government introduces a ban on “private” cryptocurrencies and declares a sovereign digital currency, investors and stakeholders want to do their best to expand the digital coin ecosystem instead of sitting on the side-lines.

Is India moving towards financial inclusion with cryptocurrency?

Once considered a “boy’s club” due to the predominantly male demographic of the cryptocurrency market, the ever-increasing number of female investors and traders has led to a more gender-neutral approach to investing in new and digital forms. Earlier, women used to stick to traditional investments but now they are becoming risk takers and entering the crypto space in India. After the Supreme Court clarified the legality of “virtual currencies”, Indian cryptocurrency platform, CoinSwitch has witnessed a 1000% growth in its female users. Although women investors still make up a small percentage of the crypto community, they are creating fierce competition in the Indian market. Women save much more than their male counterparts, and more savings means more diversification into investments like high-return assets like cryptocurrencies. Also, women are more analytical and better at assessing risk before making the right investment choice, so they are more successful investors.

Increasing mainstream institutional adoption of cryptocurrencies

The uncertainty and panic created by Sars-Covid-19 led to a liquidity crisis before the economic crisis began. Many investors converted their holdings to cash to protect their finances, causing bitcoin and altcoin prices to fall. But even though crypto has suffered a major setback, it has emerged as the best performing asset class of 2020. With the increased vulnerability of the system and loss of confidence in central bank policies and money in its current design, the appetite for digital currencies has increased resulting in a cryptocurrency rebound. Due to the great performance of cryptocurrencies in the middle of the global financial crisis, the uptrend has strengthened the interest in the virtual currency market in Asia and the rest of the world.

Moreover, to accelerate society’s demand for convenient and reliable transaction solutions, digital payment gateways like PayPal have also shown their support for cryptocurrencies that can enable customers to hold, buy or sell virtual assets. Recently, Tesla CEO Elon Musk announced a USD1.5 billion investment in the cryptocurrency market and the electric company will accept bitcoins from buyers, causing the international bitcoin price to rise from USD40,000 to USD48,000. Today two of the largest platforms for making payments around the world, Visa and MasterCard are accepting cryptocurrencies by introducing them as a medium of transaction. While Visa has already announced that it will allow transactions with stablecoins on the Ethereum blockchain, MasterCard will start dealing with crypto by 2021.

What does the future hold for the cryptocurrency market in India?

The Indian cryptocurrency market is not immune to the horrific crypto crash. Despite huge investments from global peers, local investors are still staying away from crypto investments due to the lack of legitimacy of India’s digital currency ecosystem and high market volatility. Although the cryptocurrency market has been growing since last year, Indians own less than 1% of the world’s bitcoins, creating a strategic disadvantage for the Indian economy. The Indian government is planning to appoint a new panel to study the possibility of digital currency regulation in the country as well as to focus on blockchain technology and recommend it for technological improvements.

Blockchain technology’s ability to provide a secure and immutable infrastructure has been realized by various industries to bring transparency to transactions. For countries with more than 15 million crypto adopters, the committee’s new recommendations could be of great value in determining the future of cryptocurrencies in India. However, stakeholders believe that technological and economic strength will make India a key player in the crypto and blockchain market. Gradually, cryptocurrencies are gaining mainstream acceptance, which could lead to higher adoption of digital currencies.

According to another “TechSci Research Report on India Cryptocurrency Market By Offering (Hardware & Software), By Process (Mining & Transactions), By Type (Bitcoin, Ethereum, Bitcoin Cash, Ripple, Dashcoin, Litecoin, Others), By End User (Banking, Real Estate, Stock Market & Virtual Currency) , by Region, Forecast and Opportunities, 2026″, India cryptocurrency is expected to grow at a significant CAGR due to transparency and reducing transaction costs. Additionally, growing adoption of digital currencies and growing blockchain technology are fueling the cryptocurrency market in India.

Crypto Trends 2017-01

Everyone has heard how Bitcoin and other cryptocurrencies have made millionaires of those who bought as recently as a year ago. Gains of 1,000% or more are not only possible, they are common place with many of these cryptocurrencies. Anyone who bought Bitcoin for less than $500 in May 2016 would have made a 1,400% profit in about 17 months. Then in the last few days, we’ve seen Bitcoin lose nearly $1,000, so calling these cryptocurrencies volatile would be a huge understatement.

Since Bitcoin’s inception in 2008, we at Trend News have been skeptical about the viability of cryptocurrencies, given that they pose a very clear threat to governments that want to track and tax all transactions. But while we may still be wary of actual cryptocurrencies, we are very aware of the potential of the underlying technology that powers these electronic currencies. In fact, we believe this technology will cause a significant disruption in how data is handled and will affect every sector of the global economy, just as the Internet has affected media.

Here are some questions and answers to get us started…

Q: What is crypto currency?

The best known crypto currency (CC) is BITCOIN. It was the first CC, which started in 2008 Today there are over 800 CCs including Ethereum, Litecoin, Dash, Zcash, Ripple, Monero and they are all “virtual”. There is no “physical” coin or currency.

Q: How does CC work?

CC is virtual currency that exists in many large distributed databases. These databases use blockchain technology. Because each blockchain database is widely distributed, it is considered immune to hacking, as there is no central point of attack and every transaction is visible to everyone on the network. Each CC has a group of administrators, often called “manikers”, who verify transactions. A CC called Ethereum uses “smart contracts” to verify transactions. Crypto TREND will provide more details in an upcoming news release.

Q: What is blockchain?

Blockchain is the technology that underpins all CC. Each transaction for the purchase, sale or exchange of CC is entered into a block which is added to the chain. This technology is complex and will not be explained here, but it has the potential to revolutionize the financial services industry, as transactions can be executed quickly and easily, reducing or eliminating fees. The technology is also being tested for applications in many other industries.

Q: Is CC Exchange regulated by the government?

For the most part, the answer is no, which is a big draw of this market for some users. It’s the “wild west” right now, but governments in most developed countries are examining this market to decide what controls might be needed. A big decision is whether CC will be treated as a currency or a commodity/security. Canada and the USA have so far declared that CCs are legal, but the situation remains fluid in terms of reporting and tax implications. Crypto TREND will follow and report on these developments.

Q: How do I invest in this market?

You can buy, sell and exchange CC using the services of specialized “exchanges” that act as brokerage. You start by selecting an exchange, setting up an account, and transferring fiat currency into your account. Then you can place your buy and sell CC orders. There are many exchanges around the world. Opening an account is fairly easy and these exchanges have their own rules about initial funding and withdrawals.

Crypto Trends Will recommend CC exchange in the future.

Q: Where do I keep my CC?

You need a digital wallet to have the freedom to move your crypto coins around and pay bills. These wallets come in different formats, such as desktop, cloud based, hardware (USB), mobile phone and paper. Many of them are free, however, security is a big factor as no one ever wants to lose or steal their wallet Crypto TREND will recommend digital wallets in the future.

Q: What can I do with my CC?

In addition to investing in CC products, you can also use crypto currencies for certain financial transactions, such as money transfers and bill payments. The list of companies accepting cryptocurrencies is growing rapidly, and includes big hitters like Microsoft, GAP, JC Penny, Expedia, Shopify, Bloomberg.com, Dish Network, Zynga, Subway, and WordPress.

Q: What next?

As we begin, we will keep each crypto trend article short and the scope of each one as narrow as possible. As we mentioned earlier, we believe that cryptocurrency technology will be a game changer and potential investment opportunities like this come once or twice in a lifetime. Make no mistake, initial investment in this sector is only for your most speculative capital, money you can afford to lose.

Even if you don’t want to invest at this time, getting a basic understanding of this new disruptive technology will put you in an advantageous position to profit from our recommendations as we move forward.

Expect to see more news and specific recommendations from Crypto TREND as we embark on this journey into what may at first seem like a foreign jungle. It is a volatile market and may not appeal to all investors, however, crypto trends will be your guide if you are prepared.

Stay tuned!

Cryptocurrency for Beginners

In the early days of its launch in 2009, hundreds of thousands of bitcoins were used to buy a pizza. Since then, after the cryptocurrency’s meteoric rise to US$65,000 in April 2021, it fell nearly 70 percent to around US$6,000 in mid-2018, much to the chagrin of many people – cryptocurrency investors, traders or just plain curious people who boat. Miss.

How it all started

Remember that dissatisfaction with the current financial system gave rise to the development of digital currencies. The development of this cryptocurrency is based on the blockchain technology of 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 of crowdfunding due to blockchain fever has also attracted them so that they can defraud the unsuspecting public and this has caught the attention of regulators.

Beyond Bitcoin

Bitcoin has inspired the launch of many other digital currencies, with over 1,000 versions of digital coins or tokens currently in existence. They are not all 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 subtle differences between coins, altcoins, and tokens. Altcoins or alternative coins usually describe other than the pioneer Bitcoin, although altcoins such as ethereum, litecoin, ripple, dogecoin and dash are considered in the ‘main’ category of coins, meaning they are traded on more cryptocurrency exchanges.

Coins act as a currency or store of value whereas tokens use resources or utilities, an example being a blockchain service to manage supply chains to validate and track wine products from wineries to consumers.

One thing to note is that lower value tokens or coins offer upside opportunities but don’t expect the same meteoric rise as Bitcoin. Simply put, lesser-known tokens can be easy to buy but hard to sell.

Before getting into a cryptocurrency, start by studying the commercial strategies such as value proposition and technical considerations outlined in the white paper that accompanies each initial coin offering or ICO.

For those familiar with stocks and shares, this is not the same as an initial public offering or IPO. However, IPOs are issued by companies with tangible assets and a business track record. It is all done in a controlled environment. On the other hand, an ICO is based entirely on an idea proposed in a white paper by a business – still operational and without assets – that is looking for start-up funding.

Unregulated, so buyer beware

The ‘unknown that cannot be controlled’ probably sums up the situation with digital currencies. 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 to adopt a hands-off policy for cryptocurrency and blockchain applications, and are keeping a direct eye on scams. Yet regulators in other countries are more concerned with the harms than the benefits of digital money. Regulators generally recognize the need to strike a balance, and some are looking at existing securities laws to try to get a handle on the many flavors of cryptocurrency worldwide.

Digital Wallet: Step One

A wallet is essential for getting started in cryptocurrency. Think e-banking but minus the legal protections 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.

  • Internet-connected hot wallets that put users at risk of being hacked

  • Cold wallets are not connected to the internet and are considered secure.

In addition to the two main types of wallets, it should be noted that there is a wallet for cryptocurrency only and another for multi-cryptocurrency. There is also the option of having a multi-signature wallet, a bit like having a joint bank account.

The choice of wallet depends on the user’s choice whether to be purely interested in Bitcoin or Ethereum, as each currency has its own wallet, or you can use a third-party wallet that includes security features.

Wallet note

Cryptocurrency wallets contain a public and private key with private transaction records. 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 confirmed only after verification and validation based on the consensus process relevant to each cryptocurrency.

The private key can be considered as a PIN which is commonly used in e-financial transactions. It follows that the user should never disclose the private key to anyone and should back-up this data which should be stored offline.

It makes sense to have minimal cryptocurrency in a hot wallet while larger amounts should be in a cold wallet. Losing private keys is as good as losing your cryptocurrency! The usual precautions about online financial transactions apply, from having strong passwords to being wary of malware and phishing.

Wallet format

Various types of wallets are available to suit individual preferences.

  • Hardware wallets made by third parties that must be purchased. These devices act somewhat like USB devices that are considered secure and are only connected when the Internet is needed.

  • Web-based wallets offered by crypto exchanges are considered hot wallets, putting users at risk.

  • Software-based wallets for desktop or mobile are mostly available for free and may be provided by currency issuers or third parties.

  • Paper-based wallets can be printed in QR code format with relevant data about the cryptocurrency owned by the public and private keys. These should be kept in a safe place until needed during crypto transactions and copied in case of accidents such as water damage or printed data fading over time.

Crypto exchanges and marketplaces

Crypto exchanges are trading platforms for those interested in virtual currencies. Other options include websites for direct transactions between buyers and sellers as well as brokers where there is no ‘market’ price but is based on an agreement between the transacting parties.

Hence, there are many crypto exchanges in different countries but the security practices and infrastructure standards are different. These range from allowing anonymous registration that only requires an email to open an account and start trading. Still there are some 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 may have restrictions on the level of anonymous trading allowed or may be subject to sudden new regulations in the exchange’s country of residence. Minimal administrative procedures with anonymous registration allow users to start trading quickly while KYC and AML processes take longer.

All crypto trades must be properly processed and verified, which can take minutes to hours, depending on the coin or token being traded 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 are in two categories.

  • Such fiat-cryptocurrency exchanges offer the purchase of fiat-cryptocurrency by direct transfer from banks or credit and debit cards, or in some countries through ATMs.

  • Cryptocurrencies only. Crypto exchanges there only deal in cryptocurrencies, meaning customers must already own a cryptocurrency – such as Bitcoin or Ethereum, – to ‘exchange’ for other coins or tokens based on market rates.

Fees are charged to facilitate the buying and selling of cryptocurrencies. Users should research the various rates charged by different exchanges to determine the fees they are comfortable with while being satisfied with the infrastructure and security measures.

Don’t expect a normal market price for the same cryptocurrency with difference exchanges It may be worthwhile to spend time researching the best prices for the coins and tokens you are interested in.

Online financial transactions carry risks and users should be aware of precautions such as Two Factor Authentication or 2-FA, keeping updated on the latest security measures and phishing scams. A golden rule of phishing is to not click on provided links, no matter how authentic a message or email is.

A Beginner’s Guide to Owning the Bitcoin Cryptocurrency

Bitcoin cryptocurrency is buzzing all over the world, whether you are on the internet or in any media. It is one of the most exciting and bizarre things to come into existence in the last few years. More importantly, you can earn a great return by trading Bitcoin or you can hold it for a long time.

You may have heard of stocks, commodities, forex and now a new currency called bitcoin trading that greatly affects our lives. In this Beginner’s Guide to Bitcoin Cryptocurrency, you will learn the ABCs of Bitcoin.

About Bitcoin Cryptocurrency

The origin of Bitcoin is still unknown but a paper was published in October 2008 under the pseudonym Satoshi Nakamoto from Japan. His identity is still unknown and as of September 2017 he is believed to have about one million bitcoins worth more than $6 billion USD.

Bitcoin is a digital currency popularly known as cryptocurrency and is free from any geographical boundaries. It is not controlled by any government and all you need is an internet connection As a newbie, Bitcoin technology can confuse you and it is a bit difficult to know about it. However, I will help you dig deeper into it and how you can easily make your first Bitcoin trading.

Bitcoin cryptocurrency works on blockchain technology which is a digital public ledger and shared by anyone in the world. Every time you trade bitcoins you get your transactions here and anyone can use the ledger to verify it. Transactions executed will be fully transparent and verified by blockchain. Bitcoin and other cryptocurrencies are part of blockchain and it is a great technology that only runs on the internet.

Key Terms Related to Bitcoin Cryptocurrency

Before you get ready to own your first Bitcoin, it’s good to know the basic terms related to Bitcoin. It is also called BTC which is a fraction of Bitcoin and 1 Bitcoin is equal to 1 million bits. Along with the emergence of Bitcoin, some other alternative cryptocurrencies have also developed. These are popularly called Altcoins and include Ethereum(ETH), Litecoin(LTC), Ripple(XRP), Monero(XMR) and many more.

XBT and BTC are the same thing and are commonly abbreviated to Bitcoin. Mining is another term that is used a lot and is actually a process done by computer hardware for Bitcoin networks.

What you can do with Bitcoin

You will be able to trade, transact, receive and store Bitcoins. You can send it to your friends, make friend requests and save it to your digital wallet. Even, now you can top-up your mobile/DTH directly by paying with Bitcoin.

Transaction costs are lower than PayPal, credit cards and other online intermediaries. In addition, it also protects your privacy which may be leaked on the internet while using the credit card. It is highly secure and no one can confiscate or steal the coins. Because of the transparency of the system, it is also not possible to manage it because of the shared public ledger. You can verify transactions from anywhere and anytime.

The total production of bitcoins is limited to only 21 million so the demand is likely to increase. Japan has already legalized it and other countries may soon follow suit and prices may rise further

I will cover Bitcoin in detail in the coming days where you will learn the great things about Bitcoin trading. You can comment your opinion and ask anything related to Bitcoin.

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