If You Thought You Missed The Internet Profit Revolution Try CryptoCurrency

Bitcoin is the most popular word in the financial space. In truth, Bitcoin has blown up the scene in the last few years and many people and many large companies are now jumping on board Bitcoin or cryptocurrency wanting a piece of the action.

People who are completely new to the cryptocurrency space constantly ask this question; “What exactly is Bitcoin?”

Well, for starters, Bitcoin is actually a digital currency that is outside the control of any federal government, is used all over the world, and can be used to buy things like food, drinks, real estate, cars, and more.

Why is Bitcoin so important?

Bitcoin is not susceptible to things like government control and fluctuations in foreign currencies. Bitcoin is backed by the full faith of (you) the individual and is strictly peer-to-peer.

This means that anyone who transacts with Bitcoin, the first thing they realize is that it is much cheaper to use than trying to send money from bank to bank or using other services out there that require sending and receiving money internationally.

For example, if I wanted to send money to say China or Japan, I would have to have a fee from a bank and it would take hours or even days for that fee to get that money there.

If I use bitcoins, I can do it easily from my wallet, mobile phone or computer instantly, without any of these fees. If I wanted to send, for example, gold and silver, it would require a lot of security, it would take a lot of time and a lot of money to move bullion from point to point. Bitcoin can do it again with the tap of a finger.

Why do people want to use Bitcoin?

The main reason is that Bitcoin is the answer to these destabilized governments and situations where money is no longer as valuable as it used to be. The money we have now; the paper fiat currency that is in our wallets is worthless and will be worth even less in a year.

We are even seeing large companies showing interest in blockchain technology. A few weeks ago, a survey was conducted among a handful of Amazon customers to see if they would be interested in using a cryptocurrency if Amazon created one. The results of this showed that many were very interested. Starbucks has even hinted at using a blockchain mobile app. Walmart has even filed for a patent for a “smart package” that will use blockchain technology to track and authenticate packages.

Throughout our lives we have seen many changes take place from the way we shop, the way we watch movies, the way we listen to music, read books, buy cars, look for homes, now how we spend money and bank. Cryptocurrency is here to stay. If you haven’t already, it’s time for everyone to fully explore cryptocurrency and learn how to take full advantage of this trend that will continue to thrive throughout time.

The news this week is that several banks in the US and UK have banned the use of credit cards to purchase cryptocurrencies (CC). The reasons given are unbelievable – as an attempt to curb money laundering, gambling and protect the retail investor from excessive risk. Interestingly, banks will allow debit card purchases, making it clear that the only risks that are protected are their own.

With a credit card you can gamble in a casino, buy guns, drugs, alcohol, pornography, anything and everything you want, but some banks and credit card companies want to ban you from using their facilities to buy crypto currencies? There must be some plausible reasons and they are NOT the reasons stated.

One thing banks fear is how difficult it would be to seize CC’s holdings when the credit card holder defaults on payment. It would be much more difficult than repossessing a house or car. The private keys of a crypto wallet can be placed on memory or a piece of paper and easily taken out of the country, with little or no trace of its whereabouts. There may be a high value in some crypto wallets and the credit card debt may never be paid off, leading to bankruptcy and a significant loss to the bank. The wallet still contains the cryptocurrency and the owner can later access the private keys and use a local CC Exchange in a foreign country to convert and withdraw the money. A truly ugly scenario.

We certainly don’t support this kind of illegal behavior, but the banks are aware of the possibility and some of them want to shut it down. This can’t happen with debit cards because the banks are never out of your pocket – the money comes out of your account immediately, and only if there’s enough of your money there to begin with. We struggle to find any honesty in the bank’s history of curbing gambling and risk-taking. Interestingly, Canadian banks are not jumping on this bandwagon, perhaps realizing that the reasons given for doing so are bogus. The result of these actions is that investors and consumers are now aware that credit card companies and banks do have the ability to limit what you can purchase with their credit card. This is not how they advertise their cards and is probably a surprise to most consumers who are used to deciding for themselves what to buy, especially from CC Exchanges and any other merchants who have established trading agreements with these banks. The stock markets have done nothing wrong – and neither have you – but fear and greed in the banking industry is causing strange things to happen. This further illustrates the extent to which the banking industry feels threatened by cryptocurrencies.

At this point there is little cooperation, trust or understanding between the fiat world and the CC world. The CC world has no central control body where regulations can be enforced everywhere, and that leaves every country in the world trying to figure out what to do. China decided to ban CC, Singapore and Japan accept them, and many other countries are still scratching their heads. What they have in common is that they want to collect taxes on profits from CC investments. This is not very different from the early days of digital music, with the Internet facilitating the unlimited distribution and distribution of unlicensed music. Digital music licensing schemes were eventually developed and adopted because listeners were fine with paying a little for their music instead of endless piracy, and the music industry (artists, producers, record companies) was fine with reasonable licensing fees instead of nothing . Could there be a compromise in the future of fiat and digital currencies? As people around the world are fed up with outrageous bank profits and bank excesses in their lives, there is hope that consumers will be treated with respect and not forever burdened with high costs and unjustified restrictions.

Cryptocurrencies and Blockchain technology are increasing the pressure around the world to reach a reasonable compromise – this is a game changer.

Stay on the line!

By now you’ve probably heard of Bitcoin – there are stories of people making thousands of dollars overnight with this and other cryptocurrencies.

Like any new speculative investment, there is an element of risk. That’s why starting with free $10 Bitcoin is a good way to try it out and start learning how it all works. I myself am still new to all this and came across this process during my research. It helped me and I thought I should share it with you.

The first things you need to know about buying Bitcoin is that there are a few basic ways to buy it and it’s not that complicated to do.

The main two ways to buy bitcoins are through a broker or through an exchange. Check out the Coinbase exchange – they are one of the largest exchanges, have a clean and easy to understand interface, are accessible from apps on various mobile and desktop platforms, and offer you $10 in free bitcoins to get you started. There are other exchanges I’ve tried that work well – BTCMarkets and Coinspot to name a few that are good, but only Coinbase has a $10 starting bonus.

Additional benefits of Coinbase are that it works locally in multiple currencies – if you’re in Australia, for example, all your data will be displayed in Australian dollars, so you don’t have to be on the lookout for exchange rates and the like.

It’s also worth mentioning that Bitcoin isn’t the only cryptocurrency that Coinbase works with – you can also buy Etherium (ETH), Bitcoin Cash (BCH) or LiteCoin (LTC) – whatever currency you decide to use, yet you can get $10 of free bitcoins.

Without further ado, here it is – how you get your free $10 Bitcoins:

1) Sign up with Coinbase (the link at the bottom of this article will make you eligible for the $10 bonus)

2) Complete the account setup process, including verifying your email address, phone number and uploading proof of your identity (driver’s license, passport or other photo ID – this can be done by taking a photo with your phone)

3) Enter your credit card details and verify the card by reviewing the transactions that Coinbase will add to your internet banking statement (this is instant and you are not charged)

4) Place an order for $100 worth of Bitcoin, Ethereum – whatever – in your already activated account. If your local currency is not USD, you will need to ensure that you order the equivalent of US$100

*** IMPORTANT TO NOTE: All Bitcoin purchases incur a fee and Coinbase is no different. At mostthe fee for your initial purchase of $100 should be around $4 ***

5) That’s it! In a few days, $10 worth of Bitcoins will show up in your Coinbase account – even when you deduct the purchase fee, you’ll still be ahead.

So if you’re curious about Bitcoin, want to dip your toe risk-free, and want to get some free cash (!) in the process, give this a try. The Bitcoin bonus will more than cover your fees for that first deposit and can help you learn what it’s all about.

Do they sound good?

Some final notes:

• This process will only work if you are a new Coinbase customer. If you already have an account, you will not receive the free credit

• You can get the free $10 only if you sign up using the link below.

• The above offer is limited in time – once you create your account via the link, you have 180 days in which to make a $100 Bitcoin, Litecoin or Ethereum purchase. and still get a $10 credit.

I hope you have a prosperous and happy future with Bitcoin and take advantage of the free $10. Free money doesn’t come along every day, and at the rate Bitcoin has been growing lately, $10 can multiply pretty quickly! My plan is to just sit at $110 dollars for a while, see what happens and feel the ups and downs of Bitcoin. Let’s see how we go.

All over the world, human life expectancy has skyrocketed. Compared to the 1950s, it has grown by 50%, and compared to the 1980s, it has increased by 30%. Long gone are the days when company-sponsored retirement plans alone were enough to see you through your golden years in a relaxed and carefree manner.

Today, with other expenses such as housing, education, health care, and more rising, some people are finding it increasingly challenging to save for retirement.

Unfortunately, the harsh truth is that people of all generations from baby boomers to millennials are not saving enough for retirement. Saving is one of the world’s most underrated epic crises.

“Retirement is complicated. It’s never too early or too late to start preparing for your retirement.”

Thus, people try to find alternative options that provide them with higher returns in a shorter period. Traditionally, real estate, private equity and venture capital were sought. Now a new and more complementary profitable and lucrative investment has joined the picture – enter cryptocurrencies.

Cryptocurrency Investments – For those who don’t want to put all their eggs in one basket

One of the biggest benefits of investing in cryptocurrency is that it separates your portfolio from reserve currencies. Let’s say if you live in the UK then you are required to have shares of UK based companies in your retirement portfolio if you are interested in shares. What will happen to your wallet if the British pound crashes? And given today’s volatile political scenario around the world, nothing is certain.

Therefore, cryptocurrency investments make the most sense. With digital currency investments, you are effectively creating a basket of digital coins that acts as an effective hedge or safe bet against the weakness of the reserve currency.

The average investor should allocate only a small portion of their retirement assets to cryptocurrency due to its volatility. But volatility can cut both ways—think health care stocks in the 1950s and tech stocks in the 1990s. It was the smart early investors who made it big.

Don’t get left behind or lose. Include crypto in your holdings to start building a truly diversified portfolio.

Breaking the Wall – Build your confidence in cryptocurrencies

One of the biggest and main hurdles most first-time crypto investors face is that they can’t trust digital currencies. Many people, especially people who are not tech savvy or close to retirement, don’t understand what promotion is all about. Unfortunately, they fail to realize and appreciate the myriad possibilities of cryptocurrency.

The reality is this – cryptocurrencies are one of the most reliable assets backed by the latest technology. The blockchain technology that powers digital currencies makes it possible to trade instantly and indelibly without requiring third-party verification. It is a peer-based system that is completely open and works on advanced cryptographic principles.

Retirement planning funds should work on demystifying cryptocurrencies

To build trust and gain people’s support, pension funds must educate investors about the endless potential of cryptocurrencies. For this, they need advanced analytics that help provide reliable risk analysis, risk/return metrics and forecasts.

Additionally, investment firms can create specialized cryptocurrency advisory services to help and guide new investors. In the coming years, several smart AI-based advisors can be expected to appear – they will help calculate the right investments based on an individual’s time horizon, risk tolerance and other factors.

Human advisors can work alongside these smart advisors and provide clients with personalized advice and other suggestions as and when needed.

Need more visibility and comprehensive control

Retired investors looking to add cryptocurrencies to their asset portfolio need more control and visibility as they experiment with this new asset. Look for platforms that allow you to combine all your assets in one place. An integrated solution that allows you to manage and balance all your assets, including traditional ones like bonds and stocks with new asset classes like cryptocurrency wallets.

Having such a broad platform that supports all your assets gives you a holistic portfolio analysis that helps you make better and more informed decisions. This way, you achieve the ultimate goal of saving for your goals faster.

Look for investment planning portals that also provide additional features such as recurring cryptocurrency contributions at scheduled or unscheduled intervals.

Advances in Supporting Technologies for Cryptocurrency Investing

Investing in cryptocurrency will only become mainstream when the supporting technology allows investors to trade coins seamlessly, even for new investors who are not familiar with the know-how. The exchange of one digital coin for another or even for fiat currencies and other non-tokenized assets should become possible. When possible, it will eliminate middlemen from the equation, thereby reducing costs and surcharges.

As the technology that supports cryptocurrency investment and trading matures, the value of digital currencies will further increase as the currency becomes mainstream with wider accessibility. This means early adopters stand to gain hugely. As more and more retirement investment platforms integrate cryptocurrency, the value of digital currencies is bound to increase, offering significant gains to early adopters like you.

If you’re wondering if such retirement investment platforms will take a few years to see the light of day, then you’re wrong. Auctus is one such portal that is currently in its alpha launch phase. It is the first retirement portfolio platform of its kind to include digital currencies. Auctus users can receive investment advice from both human and AI-based analytical tools.

For now, users can save for retirement using Bitcoin, Ethereum, and several other digital currencies. Additionally, users can take advantage of the auto-rebalancing feature that allows them to automatically adjust their portfolio using a set of pre-set rules.

This holistic approach ensures that consumers can reach their retirement goals earlier by making smart and sound investment choices or decisions.

Final Thoughts – Cryptocurrencies should not be overlooked in your retirement portfolio

Yes, it is true that cryptocurrencies are highly volatile. In fact, there is speculation on the internet suggesting that “cryptocurrencies are nothing more than a quick-get-out scheme” and the bubble is likely to burst sometime in the near future.

Uncertainty doesn’t mean cryptocurrencies shouldn’t be part of your retirement portfolio, even if you have short investment time horizons. On the other hand, the current decline in cryptocurrency prices in 2018 means that you have a rare opportunity to accumulate profits.

Greater trust, holistic and directly controlled investment management capabilities and advances in supporting technologies ensure that digital currencies are an excellent investment choice to include in your retirement portfolio.

What will the future of money look like? Imagine walking into a restaurant and looking at the digital menu board of your favorite combo meal. But instead of being priced at $8.99, it shows as 0.009 BTC.

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

Let’s look at both sides of the (digital) coin and compare and contrast traditional fiat money with cryptocurrency.

The first and most important component is trust.

It is imperative that people trust the currency they use. What gives the dollar value? is it gold No, the dollar has not been backed by gold since the 1970s. So what is it that gives the dollar (or any other fiat currency) value? Some countries’ currency is considered more stable than others. After all, people’s trust is that the issuing government of that money stands firmly behind it and essentially guarantees its “value.”

How does trust work with Bitcoin since it is decentralized meaning there is no governing body that issues the coins? Bitcoin sits on the blockchain, which is basically an online ledger that allows the entire world to view every transaction. Each of these transactions is verified by miners (people working with computers in a peer to peer network) to prevent fraud and also ensure that there is no double spending. In exchange for their services in maintaining the integrity of the blockchain, miners are paid for each transaction they verify. Since there are countless miners trying to make money, everyone checks their work for errors. This proof of work process is why the blockchain has never been hacked. Essentially, this trust is what gives Bitcoin value.

Next, let’s look at trust’s closest friend, security.

What if my bank is robbed or there is fraudulent activity on my credit card? My bank deposits are covered by FDIC insurance. My bank will probably also cancel any charges on my card that I never made. That’s not to say that criminals won’t be able to pull off stunts that are frustrating and time-consuming to say the least. More or less, it’s the peace of mind that comes from knowing that I will most likely be cured of any wrongdoing against me.

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

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

The next problem is scaling. Right now, this might be the biggest obstacle preventing people from doing more transactions on the blockchain. When it comes to transaction speed, fiat money moves much faster than crypto. Visa can process about 40,000 transactions per second. Under normal circumstances, the blockchain can only process about 10 per second. However, a new protocol is being introduced that will increase this to 60,000 transactions per second. Known as the Lightning Network, it could lead to crypto becoming the future of money.

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

Did you know there are companies that provide all of this in the crypto space as well? Monaco now issues cards with the Visa logo that automatically convert your digital currency into the local currency for you.

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

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

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

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

While it’s clear that fiat costs still dominate the way most of us transfer money, the fledgling crypto system is quickly gaining ground. The evidence is everywhere. Before 2017, mainstream media coverage was hard to come by. Almost all major business news now covers Bitcoin. From Forbes to Fidelity, they all weigh in.

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

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

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

Today, if you want to make a lot of money with Bitcoin, your best bet is to turn to trading instead of investing. All you have to do is buy and sell your coins and earn a small profit after each sale. If you’re just starting out, you’ll have to start from scratch like everyone else. If you play the game well, you can make a lot of money in a short period of time. In this article, we have some tips that can help you enjoy a successful career in cryptocurrency trading. Read on to learn more.

There are many important things to consider if you are interested in making tons of money trading Bitcoins. It all comes down to your experience and intelligence. Without further ado, let’s look at some tips that can help you make a lot of money and avoid some common mistakes.

1. First be aware of the risk

This is one of the most common mistakes most traders make. If you are not aware of the risk involved in this trade, you should not embark on this adventure. If you are not aware of the challenges, you may end up losing a lot of money.

Before investing your hard earned money, you may want to assess the risk. So this is one of the most important things to keep in mind.

2. Diversify your investment

When it comes to Bitcoin trading, we suggest you diversify your investment. This applies to all types of investments. In other words, if you want to invest only in Bitcoins, you will be making a mistake. You should also invest your money wisely in other cryptocurrencies.

This is important if you want to be safe and cut your losses and turn them into profits.

3. Be patient

Money doesn’t grow on trees. All traders enter the cryptocurrency world to make money. However, you cannot make money immediately after you have purchased your desired cryptocurrency. And then there is no guarantee that you will continue to earn throughout your career. Therefore, you may want to prepare yourself to deal with this type of situation.

4. Don’t be greedy

Finally, it is important to stay away from greed as it is your worst enemy when it comes to cryptocurrency trading. As Bitcoin prices continue to fluctuate, you need to be patient. It is not a good idea to fear the fluctuations and sell your coins right away. So, if you are impatient, you cannot succeed in your trading career.

Summary

In short, these are some of the most useful tips you can try if you want to be successful as a cryptocurrency trader. If you play the game well, you can make a good deal in a few years, if not months.

Bitcoin is known as the first decentralized digital currency, they are basically coins that can be sent over the internet. 2009 was the year Bitcoin was born. The creator’s name is unknown, but the pseudonym Satoshi Nakamoto is given to this person.

Advantages of Bitcoin.

Bitcoin transactions are done directly from person to person over the internet. There is no need for a bank or clearing house to act as an intermediary. Thanks to this, transaction fees are much lower, they can be used in all countries of the world. Bitcoin accounts cannot be frozen, there are no prerequisites for opening them, and no restrictions. Every day more and more merchants are starting to accept them. With them you can buy anything you want.

How Bitcoin Works.

It is possible to exchange dollars, euros or other currencies into bitcoins. You can buy and sell like any other country’s currency. To keep your bitcoins, you need to store them in something called wallets. These wallets reside on your computer, mobile device, or on third-party websites. Sending bitcoins is very simple. It’s as simple as sending an email. You can buy practically anything with bitcoins.

Why Bitcoin?

Bitcoin can be used anonymously to buy any kind of goods. International payments are extremely easy and very cheap. The reason for this is that Bitcoins are not actually tied to any country. They are not subject to any regulation. Small businesses like them because there are no credit card fees involved. There are people who buy bitcoins just for the purpose of investment, expecting them to increase in value.

Ways to acquire bitcoins.

1) Buy on an exchange: People are allowed to buy or sell bitcoins from sites called bitcoin exchanges. They do this by using their countries’ currencies or any other currency they have or like.

2) Transfers: People can simply send bitcoins to each other through their mobile phones, computers or through online platforms. It’s the same as sending cash digitally.

3) Mining: the network is protected by some individuals called miners. They are rewarded regularly for all newly confirmed transactions. These transactions are fully verified and then recorded in what is known as a public transparent ledger. These people compete to mine these bitcoins by using computer hardware to solve difficult math problems. Miners invest a lot of money in hardware. Nowadays there is something called cloud mining. Using cloud mining, miners simply invest money in third-party websites, these sites provide all the necessary infrastructure, reducing hardware costs and energy consumption.

Storing and Saving Bitcoins.

These bitcoins are stored in so-called digital wallets. These wallets exist in the cloud or on people’s computers. A wallet is something like a virtual bank account. These wallets allow people to send or receive bitcoins, pay for things, or simply save the bitcoins. Unlike bank accounts, these Bitcoin wallets are never insured by the FDIC.

Types of wallets.

1) Cloud Wallet: The advantage of having a cloud wallet is that people don’t need to install software on their computers and wait for long syncing processes. The downside is that the cloud can be hacked and people can lose their bitcoins. However, these sites are very secure.

2) Computer wallet: the advantage of having a computer wallet is that people keep their bitcoins safe from the rest of the internet. The downside is that people can delete them by formatting the computer or due to viruses.

Bitcoin Anonymity.

When making a Bitcoin transaction, you do not need to provide the person’s real name. Every single Bitcoin transaction is recorded and is what is known as a public ledger. This log only contains wallet IDs, not people’s names. so basically every transaction is private. People can buy and sell things without being tracked.

Bitcoin innovation.

Bitcoin created a whole new way to innovate. Bitcoin software is open source, which means anyone can review it. Today’s fact is that Bitcoin is transforming the world’s finances, similar to how the web changed everything about publishing. The concept is brilliant. When everyone has access to the entire Bitcoin global market, new ideas emerge. The reduction of transaction fees is a fact of Bitcoin. Accepting bitcoins is worth everything, plus they are very easy to set up. Fee refunds do not exist. The Bitcoin community will generate additional businesses of all kinds.

As we expected, after publishing Crypto TREND, we received many questions from readers. In this issue, we will answer the most common ones.

What changes are coming that could change the game in the cryptocurrency sector?

One of the biggest changes that will affect the cryptocurrency world is an alternative block validation method called Proof of Stake (PoS). We’ll try to keep this explanation fairly high-level, but it’s important to have a conceptual understanding of what the difference is and why it’s an important factor.

Remember that the underlying technology with digital currencies is called blockchain and most of the current digital currencies use a validation protocol called Proof of Work (PoW).

With traditional payment methods, you must trust a third party, such as Visa, Interact, or a bank or check clearing house, to settle your transaction. These trusted entities are “centralized”, meaning they keep their own private ledger that stores the transaction history and balance of each account. They will show you the transactions and you have to agree that it is correct or start a dispute. Only the parties to the transaction see it.

With Bitcoin and most other digital currencies, the ledgers are “decentralized,” meaning that everyone on the network gets a copy, so no one has to trust a third party, like a bank, because anyone can directly verify the information. This verification process is called “distributed consensus”.

PoW requires “work” to be done to confirm a new transaction to enter the blockchain. In cryptocurrencies, this validation is done by “miners” who must solve complex algorithmic problems. As algorithmic problems become more complex, these “miners” need more expensive and more powerful computers to solve the problems before everyone else. “Mining” computers are often specialized, typically using ASIC chips (application-specific integrated circuits) that are more adept and faster at solving these difficult puzzles.

Here is the process:

• Transactions are grouped together in a “block”.
• Miners verify that the transactions in each block are legitimate by solving the hashing algorithm puzzle known as the “proof-of-work problem.”
• The first miner to solve the block’s “proof of work problem” is rewarded with a small amount of cryptocurrency.
• Once verified, transactions are stored on the network-wide public blockchain.
• As the number of transactions and miners increases, so does the difficulty of solving hashing problems.

While PoW helped launch blockchain and decentralized, trustless digital currencies, it has some real drawbacks, especially with the amount of electricity these miners consume trying to solve “proof-of-work problems” as quickly as possible. According to Digiconomist’s Bitcoin Energy Consumption Index, Bitcoin miners use more energy than 159 countries, including Ireland. As the price of each bitcoin rises, more and more miners try to solve the problems, consuming even more energy.

All this energy consumption just for validating transactions has motivated many in the digital currency space to look for an alternative method to validate blocks, and the leading candidate is a method called Proof of Stake (PoS).

PoS is still an algorithm and the goal is the same as proof of work, but the process to achieve the goal is completely different. With PoS, there are no miners, but instead we have “validators”. PoS relies on trust and the knowledge that all the people validating transactions have skin in the game.

Thus, instead of using energy to answer PoW puzzles, the PoS validator is limited to validating a percentage of transactions that reflects his or her ownership stake. For example, a validator that owns 3% of the available ether can theoretically only validate 3% of the blocks.

In PoW, the chances of solving the proof-of-work problem depend on how much computing power you have. With PoS, it depends on how much cryptocurrency you have at “stake”. The higher your bet, the better the chances of solving the block. Instead of earning crypto coins, the winning validator receives transaction fees.

Validators enter their stake by “locking up” a portion of their stock tokens. If they try to do something malicious against the network, such as creating an “invalid block”, their stake or security deposit will be forfeited. If they do their job and don’t break the network, but don’t earn the right to validate the block, they will get their stake or deposit back.

If you understand the basic difference between PoW and PoS, that’s all you need to know. Only those who plan to be miners or validators need to understand all the ins and outs of these two validation methods. The majority of the general public who wish to own cryptocurrencies will simply buy them through an exchange and will not be involved in the actual mining or validation of block transactions.

Most in the crypto sector believe that for digital currencies to survive in the long term, digital tokens must move to a PoS model. At the time of writing this post, Ethereum is the second largest digital currency after Bitcoin and their development team has been working on their PoS algorithm called “Casper” for the past few years. It is expected that we will see Casper implemented in 2018, putting Ethereum ahead of all other major cryptocurrencies.

As we’ve seen before in this sector, big events like the successful implementation of Casper can lead to much higher Ethereum prices. We will keep you updated in future editions of Crypto TREND.

Stay on the line!

In the early days of its launch in 2009, several thousand bitcoins were used to buy pizza. Since then, the cryptocurrency’s meteoric rise to $65,000 in April 2021, following its heart-stopping drop in mid-2018 by around 70 percent to around $6,000, has boggled the minds of many people – cryptocurrency investors, traders or just curious who missed the boat.

How it all started

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

Despite many opinions predicting the death of cryptocurrency, Bitcoin’s performance has inspired many other digital currencies, especially in recent years. The crowdfunding boom fueled by blockchain fever has also attracted those seeking to defraud the unsuspecting public, and this has caught the attention of regulators.

Beyond Bitcoin

Bitcoin has inspired the launch of many other digital currencies. There are currently more than 1,000 versions of digital coins or tokens. Not all of them are the same, and their values ​​vary widely, as does their liquidity.

Coins, Altcoins and Tokens

At this point, it will suffice to say that there are subtle differences between coins, altcoins, and tokens. Altcoins or altcoins usually describe something other than the pioneer bitcoin, although altcoins such as ethereum, litecoin, ripple, dogecoin, and dash are considered the “mainstream” category of coins, meaning they are traded on more cryptocurrency exchanges.

Coins serve as a currency or store of value, while tokens offer use of assets or utility, an example being a supply chain management blockchain service to validate and track wine products from the winery to the consumer.

It should be noted that low-value tokens or coins offer upside opportunities, but don’t expect the same meteoric increases as Bitcoin. Simply put, lesser-known tokens may be easy to buy, but may be difficult to sell.

Before getting into cryptocurrency, start by learning the value proposition and technology considerations, namely the trading strategies outlined in the white paper accompanying any Initial Coin Offering or ICO.

For those familiar with stocks and shares, this is no different than an initial public offering or IPO. However, IPOs are issued by companies with tangible assets and business experience. Everything is done in a regulated environment. On the other hand, an ICO is based entirely on an idea proposed in a white paper by a business – not yet operational and with no assets – that is looking for start-up funds.

Unregulated so buyers beware

“One cannot regulate the unknown” probably sums up the digital currency situation. Regulators and regulations are still trying to catch up with the ever-evolving cryptocurrencies. The golden rule in the crypto space is caveat emptor, let the buyer beware.

Some countries maintain an open-mindedness by adopting a no-action policy for cryptocurrencies and blockchain applications, while keeping an eye out for detected scams. Yet there are regulators in other countries who are more concerned about the downsides than the upsides of digital money. Regulators are generally aware of the need to strike a balance, and some are looking at existing securities laws to try to deal with the many varieties of cryptocurrencies globally.

Digital Wallets: The First Step

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

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

• Hot wallets that are connected to the Internet that expose users to the risk of hacking

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

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

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

Wallet notes

A cryptocurrency wallet has a public and private key with private records of transactions. The public key includes a reference to the account or address in cryptocurrency, not unlike the name needed to receive a check payment.

The public key is available for everyone to view, but transactions are confirmed only after verification and validation based on the consensus mechanism applicable to each cryptocurrency.

The private key can be thought of as a PIN, which is commonly used in electronic financial transactions. It follows that the user should never reveal the private key to anyone and make backup copies of this data that should be stored offline.

It makes sense to have minimal cryptocurrency in a hot wallet, while the larger amount should be in a cold wallet. Losing your private key is as good as losing your cryptocurrency! The usual safeguards for online financial transactions apply, from having strong passwords to being on the lookout for malware and phishing.

Wallet formats

Different types of wallets are available according to individual preferences.

• Hardware wallets made by third parties that must be purchased. These devices work somewhat like a USB drive, which is considered safe and only connects to the Internet when needed.

• Web-based wallets, such as those provided by crypto exchanges, are considered hot wallets that expose users to risk.

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

• Paper wallets can be printed carrying the relevant data of the cryptocurrency held with public and private keys in QR code format. They should be kept in a safe place until needed in the course of the crypto transaction, and copies should be made in case of accidents such as water damage or fading of printed data over time.

Crypto exchanges and markets

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

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

Choosing a crypto exchange depends on the user’s preferences, but anonymous ones may have restrictions on the scope of allowed trading 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 going through KYC and AML processes will take longer.

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

Cryptocurrency exchanges fall into two categories.

• Fiat Cryptocurrency Such exchanges provide the purchase of fiat cryptocurrency through direct transfers from bank or credit and debit cards, or through ATMs in some countries.

• Cryptocurrency only. There are cryptocurrency-only crypto exchanges, meaning that customers must already own a cryptocurrency – such as Bitcoin or Ethereum – in order to be “exchanged” for other coins or tokens, based on the market rate

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

Don’t expect a common market price for the same cryptocurrency with different exchanges. It may be worth your while to research the best price for coins and tokens that are of interest to you.

Financial transactions online carry risks, and users should consider warnings such as two-factor authentication or 2-FA, update themselves on the latest security measures, and be aware of phishing scams. A golden rule of thumb for phishing is to not click on provided links, no matter how authentic a message or email is.

Cryptocurrency has been a hot topic around the world for the past few years. Most people are already familiar with cryptocurrency, especially Bitcoin. As a matter of fact, Bitcoin tops the list of cryptocurrencies. If you have no idea why cryptocurrency is becoming more and more popular worldwide, you are on the right page. In this article we will discuss 5 reasons why this new type of currency is so popular. Read on to learn more.

1. Low transaction fees

The low transaction fee is one of the main reasons why the value of cryptocurrency has increased over the past few years. No matter what type of conventional payment method you choose, you will have to pay a hefty transaction fee.

On the other hand, if you choose cryptocurrency to make payments, you will have to pay minimal transaction fees. Hence, it makes sense to use this new form of currency to make payments online for your desired products and services.

2. There is no state regulation

Another solid reason why many people trust cryptocurrencies is that they are not regulated by any government. Therefore, the value of the currency remains stable regardless of the government of a particular country.

Also, some investors want to protect their wealth, which is why they invest in cryptocurrencies. In other words, cryptocurrencies are much safer than conventional currencies, which makes them quite attractive here and now.

3. High earning potential

Another big reason why cryptocurrencies are an ideal choice is that they offer great earning potential. If you buy Bitcoin when prices are low, you can make a lot of money the moment the value of Bitcoin rises again.

Investors have made a lot of money over the past few years. So the potential is there if you are interested in investing in your desired cryptocurrency.

4. Easier to use

As time passes, it becomes easier to use cryptocurrency. The reason is that many online companies are starting to accept payments through this type of currency. In the near future, almost every company will accept payment through popular cryptocurrencies.

As more and more people start using cryptocurrency around the world, it will be even easier to buy the currency and make your payments online.

5. Comprehensive security

Your money and identity are paramount. Cybersecurity is one of the biggest issues you may face today. So using cryptocurrency to make payments online is much safer than conventional payment methods.

So if you’re worried about making payments online, we suggest you try cryptocurrency. In other words, security is another great reason why people use cryptocurrency.

In short, these are 5 reasons why cryptocurrency is so popular around the world. All you need to do is make sure you choose one of the best cryptocurrencies. It is not a good idea to put your hard earned money into a currency that has no growth potential.