Should You Buy Bitcoin?

In 2017, Bitcoin saw a lot of growth and people made a lot of money in the process. Even today, Bitcoin is one of the most profitable markets. If you are just a beginner, you might want to do your homework before investing in Bitcoins. Below are 5 expert tips that can help you avoid some common mistakes while trading Bitcoin.

1. Learn the basics first

First, you may want to learn the basics so you can get a better idea of ​​how to buy and sell bitcoins. You may also want to read reviews of popular Bitcoin exchanges to look for the best platform.

As with other types of financial investments, you may want to find ways to protect your investment. Make sure your assets are protected against fraudsters and cyber attacks. After all, security is the most important aspect of any type of investment.

2. Consider market capitalization

It is not a good idea to make this type of decision based on the price of the coin alone. However, the value of cryptocurrency is only valid if you consider the existing supply in circulation.

If you want to buy Bitcoin, don’t focus too much on the existing value of the currency. Instead, you may want to consider aggregate market capitalization.

3. Invest in Bitcion instead of Bitcoin mining

The Bitcoin mining industry is growing at a rapid pace. In the beginning, it wasn’t that difficult to earn bitcoins by cracking the cryptographic puzzles. Later it was possible to mine Bitcoin only in special data centers.

These centers are full of machines designed to mine Bitcoins. Today, if you want to build a home mining center, you may have to spend millions. So it is better to invest in bitcoins.

4. Diversify your investments

New Bitcoin investors tend to have a short-lived passion for the cryptocurrency. In truth, with Bitcoin you can diversify your investment risk. If you invest wisely in cryptocurrency, you can enjoy the same rewards that you get by investing in Forex. All you need to do is put together a solid risk management strategy.

In other words, you may not want to put all your eggs in one basket. So you might want to invest in other cryptocurrencies as well.

5. Set clear goals

Since Bitcoin is a new market, it can be difficult for you to know the right time to trade your Bitcoin. The value of Bitcoin is variable, which means you need to have clear goals in terms of profit and loss.

You may not want to make the mistake of making investment decisions based on your emotions. Making smart moves can help you minimize losses and make good progress.

In short, if you are going to invest in Bitcoin, we suggest you follow the advice given in this article. This will help you make wise decisions and stay safe at the same time. Just make sure you avoid common mistakes when running this business.

Bitcoin is the leading cryptocurrency in the world. 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 envisioned in 2008 by Satoshi Nakamoto, but it was the product of many decades of cryptography and blockchain research, not just the work of one person. The utopian dream of cryptographers and free trade advocates was to have a decentralized, borderless, blockchain-based currency. Their dream is now a reality with the increasing popularity of Bitcoin and other altcoins around the world.

Now, the cryptocurrency was first implemented on the consensus-based blockchain in 2009 and was first traded that year. In July 2010, the price of Bitcoin was only 8 cents, and the number of miners and nodes was much less compared to tens of thousands now.

Within a year, the new alt currency rose to $1 and became an interesting prospect for the future. Mining was relatively easy and people made good money doing trades and even paying with them in some cases.

Within six months, the currency doubled again to $2. While the price of Bitcoin is not stable at a certain price point, it has been showing this insane growth pattern for some time. At one point in July 2011, the coin went crazy and reached an all-time high of $31, but the market soon realized that it was overvalued compared to the gains made on the spot and corrected it back to $2.

December 2012 saw a solid rally to $13, but the price would soon explode. In the four months to April 2013, the price had risen to a whopping $266. It later corrected back to $100, but this astronomical increase in price raised its fame for the first time and people started discussing the real scenario with Bitcoin.

It was around this time that I became familiar with the new currency. I had my doubts, but the more I read about it, the more it became clear that currency was the future since there was no one to manipulate it or force it. Everything had to be done with complete consensus and that was what made him so strong and free.

So 2013 was the breakout year for the currency. Major companies began to publicly support the adoption of Bitcoin, and blockchain became a popular subject for computer science programs. At the time, many people thought that Bitcoin had served its purpose and would now settle down.

But the currency became even more popular as Bitcoin ATMs were set up around the world and other competitors began to show muscle in different corners of the market. Ethereum developed the first programmable blockchain, and Litecoin and Ripple started as cheaper and faster alternatives to bitcoin.

The magic $1,000 mark was first broken in January 2017, and since then it has already quadrupled by September. This is truly a remarkable achievement for a coin that was worth just 8 cents just seven years ago.

Bitcoin even survived the hard fork on August 1, 2017 and has risen almost 70% since then, while even the Bitcoin Cash fork managed to see some success. This is all due to the appeal of the coin and the stellar blockchain technology behind it.

While traditional economists claim that this is a bubble and the entire crypto world will collapse, this is simply not the case. There is no such bubble as it is a visible fact that it has actually eaten up the stocks of fiat currencies and money transaction corporations.

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

Everyone has heard how Bitcoin and other cryptocurrencies have made millionaires of those who bought only a year ago. Profits of 1000% or more are not just possible, they are common with many of these cryptocurrencies. Someone who bought Bitcoin in May 2016 at less than $500 would have a 1400% profit in about 17 months. Then in the last few days we have seen Bitcoin lose almost $1000, so to say that these cryptocurrencies are volatile would be a huge understatement.

Since the inception of Bitcoin in 2008, we at Trend News have been skeptical about the ability of cryptocurrencies to survive, given that they pose a very clear threat to governments that want to see 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 that this technology will be a significant disruptor in the way data is managed, and that it will affect every sector of the global economy, similar to how the Internet has affected media.

Here are some questions and answers to get you started…

Q: What are cryptocurrencies?

The most famous crypto currency (CC) is BITCOIN. It was the first CC launched in 2008. Today there are more than 800 CCs including Ethereum, Litecoin, Dash, Zcash, Ripple, Monero, and they are all “virtual”. There are no “physical” coins or currency.

Q: How do CCs work?

CCs are virtual currencies that exist in very large distributed databases. These databases use BLOCKCHAIN ​​technology. Because each Blockchain database is widely distributed, it is believed to be 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 “miners”, who validate transactions. One CC called Ethereum uses “smart contracts” to validate transactions. Crypto TREND will provide more details in upcoming news posts.

Q: What is BLOCKCHAIN?

Blockchain is the technology that underlies all CCs. Every transaction to buy, sell or exchange 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 completed quickly and easily, reducing or eliminating fees. The technology is also being explored for applications in many other industries.

Q: Are CC exchanges regulated by the government?

For the most part, the answer is NO, which for some consumers is a big draw in this market. It’s the “wild west” at the moment, but governments in most developed countries are studying this market to decide what regulation might be needed. A big decision is whether to treat CC as a currency or as a commodity / security. Canada and the US have so far declared CCs to be legal, but the situation remains volatile in terms of reporting and tax implications. Crypto TREND will monitor 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 a broker. You start by selecting an exchange, creating an account, and transferring fiat currency into your account. You can then place your BUY and SELL CC orders. There are many exchanges around the world. Opening an account is relatively easy and all these exchanges have their own rules for initial funding and withdrawals.

Crypto TREND will recommend CC Exchanges in the future.

Q: Where do I keep my CC?

To have the freedom to move your cryptocurrencies and pay bills, you will need to have a digital wallet. These wallets come in several formats, such as desktop, cloud-based, hardware (USB), mobile and paper. Many are FREE, but security is a big factor as no one ever wants to lose their wallet or have it stolen. 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 cryptocurrency for some financial transactions, such as money transfers and bill payments. The list of companies accepting cryptocurrency is growing rapidly and includes big hits like Microsoft, GAP, JC Penny, Expedia, Shopify, Bloomberg.com, Dish Network, Zynga, Subway and WordPress.

Q: What’s next?

To begin with, we will keep each of the Crypto TREND articles short and keep the scope of each one as narrow as possible. As we noted earlier, we believe that cryptocurrency technology will be a game-changer and potential investment opportunities like this come along once or twice in a lifetime. Make no mistake, early investing in this sector will only be for your most speculative capital, money you can afford to lose.

Even if you don’t want to invest right now, understanding this new disruptive technology early will put you in an advantageous position to take advantage of our recommendations as we move forward.

Expect to see more news and specific recommendations from Crypto TREND as we begin this journey into what may at first seem like a foreign jungle. It’s a volatile market and may not appeal to all investors, but Crypto TREND will be your guide if and when you’re ready.

Stay on the line!

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 gaining popularity globally, 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 cryptocurrency has grown in value 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. Therefore, 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. Great 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 goes by, 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.

Today, you can invest in cryptocurrency quickly and easily. You have the freedom to invest with the help of online brokers, but you cannot say for sure whether it is a reliable venture. There are many risks and pitfalls to face if you are thinking of entering this field. However, you don’t need to be a master in the world of computer science or finance to get started. This means you need to make an informed decision. In this article, we will talk about some common mistakes that most cryptocurrency investors make. Read on to learn more.

1: You are buying the wrong coins

If you have decided to buy Bitcoin, you should be careful. There are different types of Bitcoin such as Private Bitcoin, Bitcoin SV, Bitcoin Gold and Bitcoin Cash. In other words, there are many forks to watch out for.

Although they are not bad or scams, make sure you know what you are buying. Even if you buy the wrong coin, you can still sell it back and look for the right one.

2: You’re Not for the Wild Ride

If you want to enter the world of cryptocurrency, you need to have nerves of steel to deal with volatility. Unlike the traditional financial world, cryptocurrency has extreme volatility, according to Teresa Morrison, who is a certified financial planner in Arizona.

According to her, as a new investor, you should invest a small amount at the beginning, like $100 per month, and then forget about it. If you follow the market daily it will drive you crazy.

Also, just because you are a beginner, you may want to stick to 2 to 3 cryptocurrencies that you are familiar with. Ideally, you can consider established coins like Bitcoin and Ethereum first.

3: You don’t double-check the address

Many cryptocurrency traders lose their coins just because they don’t re-verify the address. Unlike a conventional bank transfer, you cannot simply reverse a transaction. So you have to be very careful when doing this type of transaction using cryptocurrency. If you are not careful enough, you can lose thousands of dollars in seconds.

4: You have lost access to your wallet

Although there is a limited supply of 21 million bitcoins, the entire number of bitcoins is not created. The reason is that many of the coin holders have lost access to their wallets due to forgotten passwords.

According to the Chainanalysis report, 1 in 5 Bitcoins mined so far is inaccessible due to lost passwords. So make sure you keep your password in a safe place before you start reading.

In short, we suggest you avoid these four most common mistakes if you want to succeed in the world of cryptocurrency trading. We hope these tips will help you be safe and successful as a trader or investor.

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 to 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 bet 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 the 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 instantly and only if there’s enough 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 commercial 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 has decided to ban CCs, Singapore and Japan are accepting 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 accepted because listeners were OK with paying a little for their music instead of endless piracy, and the music industry (artists, producers, record companies) was OK 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 unheard of bank profits and bank overreach 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!

Introduction: To Invest in Cryptocurrencies

The first cryptocurrency to emerge was Bitcoin, which was built on Blockchain technology and was probably launched in 2009 by a mysterious person, Satoshi Nakamoto. At the time of writing this blog, 17 million bitcoins have been mined and it is estimated that a total of 21 million bitcoins can be mined. The other most popular cryptocurrencies are Ethereum, Litecoin, Ripple, Golem, Civic and hard forks of Bitcoin such as Bitcoin Cash and Bitcoin Gold.

Users are advised not to put all their money into one cryptocurrency and try to avoid investing at the peak of the cryptocurrency bubble. It has been observed that the price suddenly dropped when it was at the top of the crypto bubble. Since cryptocurrency is a volatile market, users should invest the amount they can afford to lose as there is no government control over cryptocurrency as it is a decentralized cryptocurrency.

Steve Wozniak, co-founder of Apple predicted that Bitcoin is real gold and will dominate all currencies like USD, EUR, INR and ASD in the future and become the world currency in the coming years.

Why and why not invest in cryptocurrencies?

Bitcoin was the first cryptocurrency to emerge and after that around 1600+ cryptocurrencies were launched with some unique features for each coin.

Some of the reasons I experienced and would like to share, cryptocurrencies are built on the decentralized platform – so users don’t require a third party to transfer cryptocurrency from one destination to another, unlike fiat currency where the user needs a platform like a bank to transferring money from one account to another. Cryptocurrency built on very safe blockchain technology and almost zero chance of hacking and stealing your cryptocurrencies as long as you don’t share your important information.

You should always avoid buying cryptocurrencies at the highest point of a cryptocurrency bubble. Many of us buy cryptocurrencies at their peak hoping to make a quick buck and fall prey to the hype of the bubble and lose our money. It is better for users to do a lot of research before investing the money. It is always good to put your money in several cryptocurrencies instead of one as few cryptocurrencies have been observed to grow more, some on average, if other cryptocurrencies go into the red zone.

Cryptocurrencies in focus

In 2014, Bitcoin held 90% of the market and other cryptocurrencies held the remaining 10%. In 2017, Bitcoin still dominated the crypto market, but its share fell sharply from 90% to 38%, and altcoins such as Litecoin, Ethereum, Ripple grew rapidly and took most of the market.

Bitcoin still dominates the cryptocurrency market, but it is not the only cryptocurrency to consider while investing in cryptocurrency. Some of the main cryptocurrencies to consider:

Bitcoin

Litecoin

pulsations

Ethereum

Throne

Civil

A big one

Monero

Where and how to buy cryptocurrencies?

While it was not easy to buy cryptocurrencies a few years ago, now users have many platforms available.

In 2015, India has two main bitcoin platforms Unocoin wallet and Zebpay wallet where users can buy and sell only bitcoins. Users should only buy Bitcoin from the wallet and not from another person. There was a price difference in the buying and selling rate and users had to pay some nominal fee to make their transactions.

In 2017, the cryptocurrency industry grew tremendously and the price of Bitcoin skyrocketed, 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 are the two major platforms in India that dominated the market with 90% of the market share – which only dealt with Bitcoin. This enables other organization to grow with other altcoins and even forced Unocoin and others to add more currencies to their platform.

Unocoin, one of India’s leading cryptocurrency and blockchain companies, has launched an exclusive UnoDAX Exchange platform for its users to trade multiple cryptocurrencies apart from trading Bitcoins on Unocoin. The difference between the two platforms was – Unocion provided instant buying and selling of Bitcoin only, while in UnoDAX, users can place an order in any available cryptocurrency and if it matches the recipient, the order will be fulfilled.

Other major exchanges available for cryptocurrency trading in India are Koinex, Coinsecure, Bitbns, WazirX.

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

Users should do their research before investing in coins and avoid falling into the cryptocurrency bubble trap. Users should explore the exchange’s reliability, transparency, security features, and more.

All exchanges charge some nominal fee for each transaction. There are two types of fees – creation fee and claim fee. Apart from the transaction fee, one has to pay the transfer fee if you want to transfer your cryptocurrencies to another exchange or your personal wallet. The fees depend solely on the coins and the exchange as different exchange has a price difference module to transfer the coins.

Major altcoins other than Bitcoin

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

But you should invest the money in the market that you can afford to lose because the cryptocurrency market is very volatile and no government has control over it.

When should I buy?

There is no hard and fast rule when to buy your favorite cryptocurrency. But the stability of the market must be examined. You shouldn’t, except at the peak of a cryptocurrency bubble or when the price is constantly crashing. Always the best time is considered when the price is stable at a relatively low level for some time.

A method of storing cryptocurrencies

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

Generally, all exchanges provide storage facilities where you can store your coins safely. One should not share one’s username, password, 2FA when holding cryptocurrency on exchanges.

Paper wallet, hardware wallet, software wallet are some of the channels where one can store his cryptocurrency.

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

Hardware Wallet: A hardware wallet is a physical device where you store cryptocurrency safely. There are many forms of hardware wallet, but a commonly used hardware wallet is USB. When you keep your cryptocurrency in a hardware wallet, you just have to keep in mind that you should not lose your hardware wallet because once it is lost, you cannot retrieve your cryptocurrency.

One famous incident where a person mined over 7000 bitcoins and stored it in his hardware wallet and stored it in another hardware wallet. One day he dropped the hardware wallet in which he stored his cryptocurrency instead of damaged hardware and lost all his bitcoins.

What can be bought from cryptocurrencies in India?

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

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

In India, Sapna Book Mall accepts Bitcoin as payment using the Unocoin merchant service. People booked movie tickets through BookMyShow or recharged their mobile phone through the Unocoin platform. According to the report, they have stopped the service but plan to start it again in the near future.

Conclusion:

Cryptocurrency is one of the growing investment sectors and has given good returns from real estate, gold, stock markets, etc. in the past. You can buy the cryptocurrency and hold it long term to get good profits or go short term for a quick profit as we have seen many coins grow 1000%+ in the past. Because cryptocurrency is a volatile market and there is no government control over the industry. One should invest the amount in any cryptocurrency that one can afford to lose.

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