Lyndsey Annabel

14
Oct
2022

Tips When Investing In Cryptocurrencies

If prefer to look for something more long-term then you can invest in crypto securities.

A few basic tips for investing in cryptocurrencies

As with all forms of investment, it is advisable to diversify over several different investments in order to minimize the risk of total loss.

It is also important to compare different providers. The fees for transactions, for example, can vary massively.

Due to the high volatility of cryptocurrencies, it is advisable to approach the matter as unemotionally as possible. Buy outside of the hype and test different options with small amounts.

When transferring cryptocurrencies from a broker to your wallet or back, make sure to use the correct address. A simple typo and your coins or tokens are gone.

Cryptocurrencies held for at least a year are tax-free but before that, gains are subject to income tax.

Posted by Lyndsey Annabel in Crypto
11
Oct
2022

What Is Cryptocurrency Mining And Its Benefits

Cryptocurrency mining is free money, but only if you are smart enough. You can earn by contributing to the software technology that runs the crypto blockchain.

Mining is the lifeline of the crypto world. It validates ongoing transactions and puts new coins into circulation. In simple terms, a miner solves some compound math problems to authenticate transactions.

It is the process by which a miner trades computing power and electricity for the block reward. The block reward is an incentive for miners to help support the blockchain technology behind cryptocurrencies.

The benefits of Crypto Mining

If you are a crypto-miner and view bitcoin360ai here (bekijk bitcoin360ai hier), then it could be a good side gig. With a little examination, you can make passive income based on computing skill without doing anything about it.

Next, you can be a vital part of the crypto movement as miners. You can be one of the main contributors to making decentralized finance a reality.

Finally, you have the right to veto any changes to network protocols.

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Cryptocurrency mined vs. unmined cryptocurrency

A consensus mechanism is a process of approving transactions in a decentralized system such as a blockchain. It also helps keep the system safe from possible vulnerabilities such as a 51% attack.

A 51% attack is a condition where a bad performer controls more than 51% of the blockchain. This majority empowers the fraudster to shape the protocols according to the will. A consensus mechanism supports power decentralized. Such a degree of decentralization requires enormous computing capabilities and work to do a 51% attack. Eventually, a scammer is expected to lose more than he would win.

There are lots of consensus methods such as proof of work, proof of stake, proof of capacity, and proof of activity.

Depending on the type of consensus mechanism, cryptocurrencies may require mining or otherwise.

Mined cryptocurrency

Blockchains that utilize a proof-of-work consensus mechanism require mining. They make use of miners for approving inputs. Whenever transactions rise for verification, miners begin competing to solve a 64-digit hexadecimal number.

The first to find the solution broadcasts it across the network as proof of work. This victory rewards the winner while others wait for the next challenge.

Bitcoin and Ethereum use proof of work along with many others. Therefore, they need mining to check for double spending.

Posted by Lyndsey Annabel in Crypto
03
Oct
2022

How A Small Business Can Accept Bitcoin Payments

The number of small businesses accepting crypto payments continues to grow.

If your business is just starting out, consider including Bitcoin in your POS options. In this way, your small business will keep up with its competitors.

But Bitcoin is complicated for some people. Ideally, this cryptocurrency represents innovation, and not everyone understands how it works. However, the growing acceptance of this digital currency by big tech companies and payment processors like PayPal is a key incentive for small businesses to adopt it.

However, accepting Bitcoin payments is more than a survival tactic for a tow truck in san jose small business. It is a way to increase the efficiency of the company.

Some of the ways your tow truck startup can benefit from Bitcoin

  • Attracting new tech-savvy customers
  • Encouraging security through Bitcoin’s decentralization
  • Ensuring faster payments
  • Lowering transaction fees
  • Eliminating chargeback fees that eat away at business profits

Nonetheless, bitcoin payments also have their downsides. For example, accepting bitcoin payments can expose your business to cyber-attacks. Also, the volatility of this virtual currency could bring losses to your small business. But you can minimize these risks if you take the right approach when accepting Bitcoin payments.

tow truck in san jose

Steps to Accepting Bitcoin in Your Small Business

Preferably, accepting bitcoin payments must be quite easy if you follow these steps.

  • Set up a bitcoin wallet: You already know that you need a crypto wallet to accept bitcoin payments.

Therefore, set up a crypto wallet to accept bitcoins. A digital wallet is like a bank account that allows you to receive and send digital money. You can use a bitcoin wallet or a multi-crypto wallet if you want to accept other cryptocurrencies.

  • Integrate bitcoin payments on your business website: Integrate this payment option on your business website after setting up a bitcoin wallet. If your business runs on a platform, you can install a plugin that will allow you to set up bitcoin payment processing.
  • Insulate your business against bitcoin downside: You want to preserve the value and security of your bitcoin when accepting payments in this digital currency. Therefore, set up a mechanism to convert bitcoins into cash to reduce the risk of losing profits due to bitcoin volatility.
Posted by Lyndsey Annabel in Crypto
08
Sep
2022

Can You Invest In Bitcoin Even With Small Budget?

The news is full of articles about the blockchain revolution. Cryptocurrencies make headlines every day, be it because they lose a small percentage of their value or because they go through the roof. Many people are watching this development with wide eyes because the complex digital currencies are difficult to understand. But once you understand the system, you can deal with the crypto exchange and invest in cryptocurrencies without much effort.

Of course, the blockchain giant Bitcoin is particularly interesting for investors and those who want to become one. Even with a small budget, people today can invest in the crypto market. To determine your budget before investing in crypto market, it is helpful to take advantage of the best app to monitor accounts. This way, you will not only monitor your expenses but your income as well.

Buy shares in bitcoins

Today’s Bitcoin millionaires bought the newly launched currency for little money. The crypto luminary was only worth a few cents USD back then. The situation for investors today is different. The majority of people cannot afford an investment of a few thousand dollars. If you still want to benefit from the growth of the super currency, you can also invest in shares of coins. Especially trading platforms that focus mainly on trading BTC offer their customers this opportunity. Here you can buy bitcoin.

When buying shares, investors should of course consider that the profits are only offset proportionately. It is advisable to keep a close eye on the market in order to find the optimal entry into the trade. If a significant uptrend is imminent, the profit on Bitcoin shares can also be surprisingly large. With the profit from cryptocurrencies you can either buy new shares or switch to other currencies.

best app to monitor accounts

How to get free bitcoins

Bitcoins are mined in a mining process generated. This term is based on the gold rush in the USA and is to be understood in the same way as gold panning. Only that coins are mined on super servers with crypto money. But there is another way to release the coins. There are special websites called faucets that offer bitcoins for free. Users must register and create an account on the faucet. Since the bonus bitcoins are not generated by computing power, it is sufficient to click a button within a countdown.

Posted by Lyndsey Annabel in Crypto
04
Sep
2022

Is It Beneficial To Invest In Digital Currencies?

Before investing, you must register with a bitcoin exchange. An example of a well-known trading place is, for example, the US company Coinbase. For new investors, it is advisable to enter the market very slowly and only invest the amount that you can lose painlessly. Remember that Bitcoins fluctuate very strongly.

What to consider?

It is vital to realize that bitcoins are not the better investment as people always claim. Cryptocurrencies do not correct if the stock market weakens. When the stock market fall, gold can protect much better as compared to digital currencies. The precious metal frequently gains sharply when stocks increase.

Posted by Lyndsey Annabel in Crypto
25
Aug
2022

Marketing Tips For Cabinet Startups Using Crypto

Social media marketing for your business is comparatively cheap. It is therefore particularly suitable for start-ups.

Many start-ups successfully use social media for their marketing. They rely on the viral distribution of content and benefit from the interaction with their followers. With social media marketing, they introduce themselves to their target audience and build their RTA cabinets brand.

Cabinet start-ups using crypto: How to approach social media strategy

Understand the target group of the start-up

Get to know and understand your target group. Only with a lot of information about your target group can you generate useful content for social media channels.

Prioritize few social media channels

When it comes to the number of social media channels, “less is more”. Especially as a young start-up with a small team, small budget and many tasks, it is important to prioritize correctly. Choose the channel where your target group can really be found. Eliminate all other channels even if it can look fancier on the website if several social media presences are linked.

It is important that you keep the quality of the posts on the channel high from post to post. For this, it is important not only to understand the appropriate language of the channel, but also to use it with tailor-made content. Invest time and resources accordingly.

RTA cabinets

Use paid social media advertising for more reach

Anyone who uses social media for their marketing can no longer avoid paid advertising. The big social media channels have successively limited the organic reach of companies over the years.

Companies that don’t invest in more reach than the algorithm gives them can go under with their content. It’s annoying to produce quality content that won’t be seen by the target audience. Paid advertising helps to get through to your target audience and to address potential customers.

Set realistic goals for social media marketing

Unrealistic marketing goals hinder social media engagement. The annual plan does not work if it is foreseeable after a few weeks that the goal will not be achieved. Young start-ups with a lot of drive and a small marketing budget tend to set difficult-to-achieve goals in social media marketing. As a team, ask yourself how realistic your business goals are.

There are many metrics in social media marketing to measure whether goals are being met. Do not collect all possible key figures, but only those relevant to your goals, which you can actively control and improve through your measures. But at the beginning, put your focus on the process of your social media activities and less on the goals.

Posted by Lyndsey Annabel in Crypto
26
Jul
2022

Bitcoin: The Clock Is Slowly Ticking Down

Frustration and joy are closely related in the crypto market. The strong price movements in Bitcoin and Ethereum offer potential. The mood is currently on the rock bottom, the courses do not seem to be able to find a footing.

Crypto currencies remain a question of faith

Equities are tangible capital in a certificated form. As history has shown, they offer the best long-term protection against inflation. Even gold as a safe investment haven cannot be increased. This also applies to many cryptocurrencies such as Bitcoin.

You can now process electronic payments much faster at significantly lower transaction costs and high volumes. Detached from the value of the bitcoin, it is necessary to distinguish the price, i.e. the result of supply and demand on the market.

Posted by Lyndsey Annabel in Crypto
10
Jun
2022

Some Advantages Of Blockchain Technology

Investing in crypto is possible without hiring an investment consultant. You can buy crypto without having a bank to deal with your debit or credit card payment. Since you don’t require the approval of bank managers or finance professionals, you can complete transactions in minutes. This is a major benefit of using blockchain technology.

Dependability of decentralized peer-to-peer database

You can store copies of blockchain transactions on hundreds or thousands of network nodes. Transactions are verified before being added to the blockchain. They are secure because there is no single point of failure in a peer-to-peer network. With a traditional database, the breakdown of one server can take all of your data offline. Then all you can really hope for is your backup. With blockchain, there is no need to worry about such issues.

Posted by Lyndsey Annabel in Crypto
10
May
2022

How will Blockchain Technology Change The Business World?

Blockchain technology – especially with Bitcoin – is the leader in the digital space. This new way of thinking and doing things is still in its early stages, but we look forward to experiencing the full impact that it has on us. As soon as some successful businesses start utilizing the technology, things are going to change. It’s possible it will take on a similar effect to what e-commerce was in the early 2000s.

What makes blockchain technology unique?

The blockchain is a type of ledger that records who owns what without any central authority to manage the network. It’s made up of blocks that are constantly added, so you know exactly what happened from the beginning. Thanks to built-in encryption algorithms, the data on a blockchain can’t be changed by anyone. This is a big difference compared to conventional systems, where any administrator has access and could change something in the database.

With digitization, there’s a greater need for data that can’t be tampered with. This could be vital for things like automation processes. A lot of people think blockchain is so different from the banking system because it doesn’t need our current institutions that we rely on for transactions. As an example, think about eBay and Amazon.

Blockchain technology lets us bypass central nodes and middlemen, making an economy that’s less dependent on them. Record companies or GEMA won’t be necessary and they’re expensive to maintain

Read also: How To Keep Crypto Currencies Like Bitcoins Safe?

Is it possible that companies like banks, Paypal, and more might lose out on their businesses once the power shifts over to blockchain tech?

Banks aren’t disappearing because of the blockchain. If they don’t evolve with technology, they’ll be forgotten. As part of this adjustment, banks are now participating in cryptocurrency exchanges known banks like Standard Chartered, Banks of Wells Fargo, and others were reported to have invested in the crypto market.

Blockchain is new, which leads to lots of obstacles. Some projects (like Ethereum and IOTA) still have a long way to go before the public really takes notice. But many companies are adapting just fine by moving into the new digital era and doing things like digitizing their old methods (which is what Amazon did famously).

We can maximize the benefits of cryptocurrencies and change how we do business by doing not just what is needed now but also planning for near-future needs. This will have a broad and lasting positive effect on society. The blockchain will most likely be an important service in the digital society 20 years from time. In the meantime, the majority of changes caused by blockchain technology will happen in the B2B sector. These changes will happen over the next decade or so.

Bitcoin has been around for a while, and there are new cryptocurrencies popping up all the time. Some of them may have more potential than others, but it’s hard to tell which ones are worth investing in.

  • Bitcoin was designed to be a payment option but is also used as a way of storing your money and has become the basis for other cryptocurrency networks. Making any changes to the system is difficult and typically takes up a lot of time or energy. It’s impossible for the network to come up with any changes beforehand
  • Ethereum goes a step further than Bitcoin, as it doesn’t store the coins themselves but rather the program codes on its blockchain database. These are what we call smart contracts which run automatically – an unchangeable and cheap solution that is also easy to use.
  • China’s NEO is another thing. They’ve also got digital assets and digital ID tied into their smart contracts. You can use these services to store different types of property, such as real estate or ID cards. The Neos goal is to make cryptocoin transactions as secure as possible. They make this happen by securing information behind blockchain technology.

What is the future of Blockchain Technology?

It’s hard to say what the future will hold but I’m sure blockchain-based societies will still make use of modern technologies. The question is more about how they’ll be used.

Decentralization can give people more control over their privacy, leading to a more autonomous lifestyle where they are able to connect with like-minded individuals. It might also lead to the formation of self-governing communities. If you live in a region with neighboring states, you might want to start trading electricity or lend money to one another. The blockchain would make these activities much easier and more efficient.

The way we think about ownership is different from blockchain-indexed tokens. Anyone can technically become owners of a company, their neighborhood wind farm, or a small startup with these assets. The prerequisite for this is of course a legal basis; other areas are also becoming easier and cheaper for the average consumer with the blockchain. Cashless payments are easier to do and have less risk of fraud when it comes to protecting personal assets. Blockchain technology can be used to easily and securely measure someone’s total assets. Even voting could take place on the blockchain and become more accurate and fraud-proof. Democracy would be more transparent.

In general, crypto will have a day-to-day impact in many different areas. Blockchain can simplify whatever you do and make it more convenient.

Posted by Lyndsey Annabel in Block Chain Crypto, Crypto
18
Apr
2022

How To Keep Crypto Currencies Like Bitcoins Safe?

After you have purchased cryptocurrencies on an exchange, that exchange will manage your balance.

How do you keep your bitcoins safe?

The bitcoins are yours, but they are in the exchange’s account, the so-called wallet. In the past, exchange wallets in particular have been the victims of attacks. It is therefore advisable to transfer the bitcoin to a personal wallet. You get the unique code of your coins. Save it on multiple devices. These devices should ideally be offline. But please note that if you lose the code, your money is gone too.

Posted by Lyndsey Annabel in Crypto
13
Mar
2022

Buy Cryptocurrency: These Options Are Available

Bitcoin, Bitcoin Cash, Litecoin, Dash and Ethereum, cryptocurrencies are particularly interesting for investors and stock market speculators.

Buy cryptocurrency: The most important thing in brief

Investors can invest in cryptocurrencies in different ways.

If you want to buy cryptocurrencies, you should do so through well-known providers.

To buy “real” cryptocurrencies, you need a wallet.

Buy cryptocurrencies: Rapid development

The development of cryptocurrencies is progressing rapidly. A few years ago, Bitcoin and Ethereum were still the digital means of payment for a few computer freaks. But now, they are also on everyone’s lips among private investors and speculative investors. The reason is simple. Anyone who bought bitcoins for a few hundred dollars a few years ago is now a millionaire.

Posted by Lyndsey Annabel in Crypto
15
Jan
2022

What Are The Benefits Of Cryptocurrencies?

Cryptocurrencies enable digital payment transactions without central administration.

Thanks to the decentralized exchange of data, individual groups or interest groups such as banks or governments can neither simply print new money nor manipulate the exchange rate.

They base the decentralization of personal data or transactions on blockchain technology.

Blockchain technology makes business possible without third-party middlemen. This can be, for example, trading stocks without banks or buying real estate without a notarial certification.

Access for everyone

There are significantly more people worldwide who have access to the Internet or smartphones than people who have access to the banking system.

Cryptocurrencies offer unbelievably great potential for precisely this population. Cryptocurrencies do not exclude users based on history or other characteristics.

The already widespread user-to-user credit system in the micro area also uses this potential.

Posted by Lyndsey Annabel in Crypto
02
Dec
2021

Bitcoin Market And Other Cryptocurrencies

The cryptocurrency market exceeded two trillion dollars. It is a capitalization that even those who frantically supported the investment in Bitcoin and other similar digital assets did not hope for.

Bitcoin: Part of a market of over two trillion dollars

To better understand how many zeros, the cryptocurrency market has now reached a market capitalization of $ 2trillion. It’s a huge value. Bitcoin drove the growth which remained at a market capitalization of $ 1trillion for a week. Bitcoin rose 1.4% to $ 59,045.

Many analysts call for caution

The market is extremely volatile. There are many who do not shy away from talking about a speculative bubble. Behind these cryptocurrencies is nothing more than trust. If it disappears, then everything collapses.

Posted by Lyndsey Annabel in Cryptocurrency Mining
17
Nov
2021

A Great Way To Diversify Cryptocurrencies

Cryptocurrencies are a form of electronic money. It only exists in virtual form. So there are no coins or notes. You can pay with its cash, but digitally without the need for a bank or other third party. Bitcoins and other cryptocurrencies such as Ethereum, Dash, Ripple, Litecoin, and Monero do not have 1 owner but are owned by everyone who uses them. The underlying, secure technology that makes all of this possible is called Blockchain. If you are interested visit this site ()

Success Stories

So you can pay with cryptocurrency, but most stories in the media are about people who have invested in it. To illustrate: anyone who bought Bitcoins for $50 in 2009 – the year they were first offered – is now a multimillionaire. But even those who ‘only’ started at the beginning of 2017 will have a profit of almost 2000% (!) in the digital wallet a year later.

‘Anti-government, anti-regulation

Proponents of Bitcoin like to draw the comparison with gold. That too has no social benefit and no economic basis. It is only worth a lot because of its scarcity. Cryptocurrencies are hot. ‘Investors feel smart. They understand things that no one else understands,” said leading economist Robert Shiller. “The Bitcoin is anti-government, anti-regulation. It’s a beautiful story.’

Cryptocurrency Risks

It is therefore not surprising that more and more people are becoming nervous, especially now that it is no longer possible to earn dry bread with savings. Of course, investing always involves risks, but with cryptocurrency, this risk is quite large. For example, if you buy a share, you purchase a part of the underlying company. Cryptocurrency lacks such intrinsic value. The value is determined only by the demand of speculators. If you step out, it can be over in no time. In addition, your wallets can be hacked online or the digital key can be lost. Then you lose all Bitcoins, or you can’t get to them anymore. After all, no banks also mean no supervisor you can turn to.

AFM advises against investing

That is why in the past both the Netherlands Authority for the Financial Markets (AFM) and De Nederlandsche Bank (DNB) warned about the risks of ‘the umpteenth new Bitcoin’. According to financial regulators, these are vulnerable to deception, fraud, and manipulation. The AFM even advises consumers not to invest in new cryptocurrencies that are not under its supervision. Pieter Hasekamp, ​​director of the Central Planning Bureau, goes one step further. In an article in Het Financieele Dagblad (June 11, 2021), Hasekamp argued that the Netherlands should ban bitcoin as soon as possible.

Similarities with the stock market crash

Also, 2 former winners of the Nobel Prize in economics spoke out against Bitcoin. According to Joseph Stiglitz, the digital payment method is only popular because of the possibilities for money laundering and does not serve any social benefit. The aforementioned Robert Shiller sees similarities with the situation before the stock market crash of 1929. ‘The value is rising. Just like the stock markets in the 1920s. In the end, 1929 is reached. Then the coin comes down. Not to zero, but he will fall for sure,” Shiller predicts.

Politics tightens the reins

Cryptocurrencies are also not well on the Dutch political scene. This is evident from a bill from Minister Hoekstra (Finance) from 2019. It states, among other things: ‘The anonymity of virtual currencies also makes it possible to abuse them for criminal purposes, such as laundering criminally obtained income.’ Both the House of Representatives and the Senate have approved this bill. Companies that offer services for exchanging between virtual money (cryptos) and ‘ordinary’ money have therefore come under the Money Laundering and Terrorist Financing Act (Wwft) since 21 May 2020. That also applies to companies that offer crypto custodial wallets. This means that:

Bad for the Environment

Another argument against Bitcoins is that ‘mining’ costs a lot of electricity. Worldwide at least 40 TWh. That is as much as Hungary uses in a year. To be profitable, the special mining computers have to run permanently, which is bad for the environment.

Advice Consumers’ Association

We are not necessarily anti-cryptocurrency. But only put in money that you can afford to lose. This is no different from other forms of investment. And make sure you spread your risks. So never invest more than 10% of the assets that you have available for investments.

Posted by Lyndsey Annabel in Block Chain Crypto, Crypto, Cryptocurrency Mining
04
Nov
2021

Investing In Cryptocurrency: Is It Worth It?

The financial world has been discussing the opportunities and risks of Bitcoin since its introduction in 2009. In the meantime, digital currencies have developed from a marginal phenomenon and an object of speculation for outsiders to a major player in the financial market.

Choosing a Cryptocurrency

Making choices is one of the real challenges of cryptocurrencies. The reason for this is that there is not just one cryptocurrency but hundreds. To make matters worse, new ones are constantly coming onto the market.

Bitcoin is still one of the dominant cryptocurrencies. It is also the cryptocurrency that is attracting the most attention and investment funds.

Posted by Lyndsey Annabel in Crypto
20
Aug
2021

How to Identify and Avoid Cryptocurrency SCAM

There are many cryptocurrency startups and most of them are scams. The rise of blockchain and of cryptocurrency is amazing. When people see it, they become inspired by investment results showed by other people. Many are evolving trading models where people can get attracted. Many people see the positive side of cryptocurrency because it grows so fast. There are many people who earn big and many people are will to invest.  For the negative side, This is also an opportunity for scammers to strike.

How would we know this?  Here are some pointers to ponder on to avoid falling a victim to scams.

  • Know how to identify fake ISO’s. Many people do scams by marketing and creating a fraudulent primary coin offer. An ICO is one of the ways a legal business can make money using crowdfunding. Many of these ICO’s can conduct fake sale of tokens. Once you invest in these fake ICO’s, the coin has no value.
  • When a company has a great money come back promise, this is too good to be true.
  • Check is there is a legal road map for that particular token. Is there proof of concept?
  • Do they have a support who can help solve a problem?
  • Identify Cloned Fishing website. A cloned website is someone that copies an original website, they promote this until they get personal information to use for scam.
Posted by Lyndsey Annabel in Block Chain Crypto, Crypto
20
Jul
2021

Tips When Investing in Cryptocurrency

When investing in cryptocurrency, you can find many one-stop-shop over the Internet that will give you many advises. As an investor research only objective information about any cryptocurrency or crypto app that you might be interested in.  If you are considering to invest in any crypto coins, it would be helpful to understand these projects. The best cryptocurrencies out there are the ones that solve these giant problems in the startup world. You would also want to know how the price has been performing over the last month, 6 months, year, 2 years, so you can think about how you want to time your entity in the market. You’ll definitely want to follow the coin and check the news and reviews to get a sense of what the general market sentiment is like towards that coin and figure out is it being worked on, if yes, by who? Are they no-names in the industry, or do they have serious street credit? Is the project evolving?  Is it getting faster, cheaper, better and easier to use? These are very important things. If you see that prices are going up, but there doesn’t seem too much progress, then that’s probably a red flag. But if you see that the price is staying flat or declining, but there seems to be a massive progress being made on that project, then that could be a sign that’s it’s a good time to be involved. You would also want to look into the economics behind the coin in question that you’re doing research on. An example on this is check how many coins are out there in active circulation for that currency? Is the overall supply of coins capped and limited to a fixed number, or is there inflation built into it in a yearly basis? The answers to these questions vary greatly from coin to coin. So it’s very important that you understand the supply and demand economics behind it.

Only invest what you can only afford to lose. Note that every dollar that you invest in cryptocurrency could all go to zero overnight. At the end of the day, cryptocurrencies are programs or software. Software and programs are built using codes, which comes from humans. Humans aren’t perfect and these codes may contain bugs. It’s possible that a bug could get discovered that can lead to a “black swan” events that could wipe out your entire investment overnight. Aside from just bugs, there’s a risk of a 51% attack on the network, or the fear of quantum computing. There are user errors that you also have to consider. Cryptocurrency has only been around as an industry for about 12 years now, so we’re all kind of learning on the fly how to do it. It’s very much so an experiment, it’s early days, so make sure you’re treating it as such and that you only invest what you can afford to lose.

 

Posted by Lyndsey Annabel in Crypto
20
Jun
2021

What You should Know When Investing in Cryptocurrency

Whether you are new to cryptocurrency and you’re excited and ready to buy, or if you’ve been reflecting this decision for a while and you’re finally ready to take that plunge remember to take note of these advises before investing into cryptocurrency. This will enable you to get off to a good start. This will make you sleep well at night and help you manage your crypto assets like a pro. When investing in cryptocurrency, you will definitely experience some mistakes along the way, especially in the early days. You will be able to learn from these mistakes. Avoid these mistakes by following these great tips:

  • Learn the basics of cryptocurrencies. Educating yourself about these digital assets is definitely the most important thing you can do to set yourself up for success. For generations, we’re used to storing our wealth in banks, and it’s someone else’s responsibility to safeguard and protect our money. But with cryptocurrency, this is flipped entirely around. You are in control of your own money. And if you happen to lose access to your wallet or if you send your coins to a dead-end or to the wrong person, there’s no Help Desk or Support center that you can call up to try to reverse the transaction, this does not exist with cryptocurrency. It’s important that you take security very seriously at the onset and understand how these systems work. For a lot of the cryptocurrency projects out there like Bitcoin and Ethereum, there’s actually no company, CEO’s or shares. Instead these are decentralized, peer to peer systems that operate much less like a company, and a lot more like the Internet, where no single person or entity owns or control it.

  • Trust nobody and do your own research. Just like the Internet was in the 90’s, Cryptocurrency today isn’t all sunshine and rainbows. There are a lot of pump and dump schemes out there. There are scammers that will try to swindle you for your money if you’re not careful. There are many that will promote these projects that they don’t really believe in. They are just trying to make you look like the greater fool. If someone is trying to tell you that they know the hottest coin you should invest in, you should really think about what are their real motives and why they be saying that. If it’s someone on the Internet saying this, chances are there might be something up there. Do your own research and not take anyone else’s word for it.
Posted by Lyndsey Annabel in Crypto
20
May
2021

Ways to Invest in DeFi

Here are some ways on how a person can potentially profit from DeFi or decentralized finance trend. This is an area in which many people believe could actually grow significantly over the years. DeFi  is essentially the crypto currency spaces that attempt to recreate, rebuild and prove upon the traditional financial system and financial services.

DeFi is based on liquidity. Profits depends on the usage of this liquidity. This decentralized liquidity allows anyone to provide money in the system. Here are ways to potentially make money from this trend:

  1. Staking and Yield Farming. Staking is equivalent to a term deposit in DeFi, in which borrowed cryptocurrency and interest can only be accessed after a predetermined period. Yield farming is equivalent to “no commitment” staking. This has a slightly lower interest rate but has the advantage for one to withdraw the money deposited at any time. Some platforms of yield farming are:
  • Sushi
  • Harvest
  • Yearn
  • Uniswap
  • Curve
  • Aave
  1. Directly within DeFi itself. There are many ways and applications to do this. A good example is by the use of different protocols. You can lend your cryptocurrencies to other people at the same time generating interests or income from lending them out to people. You can do this in an open manner throughout DeFi itself. You can also make money as a liquidity provider. Liquidity providers can earn 0.3% fee on all trades proportional to their share of the pool. Fees are added to the pool, accrue in real time and can be claimed by withdrawing your liquidity. But be mindful of risks that come with this . When not careful you can loose all your money.
Posted by Lyndsey Annabel in Crypto
20
Apr
2021

How Popular is Cryptocurrency?

A study has been done about cryptocurrencies in the United Kingdom. The aim of the study is to find out how popular is cryptocurrencies. Here are some results of the study:

  • Over 70% of those surveyed haven’t heard of cryptocurrencies or didn’t know how to define one. This reflects that these digital currencies are still very young in still a tiny niche.
  • Buying cryptocurrencies is not very popular. It was estimated that only 3% of the overall sample have done so in the past.
  • Only 7% of those who haven’t bought any cryptocurrency so far would consider it in the future.
  • Owners of cryptocurrencies tend to use their own money to buy it. None of the respondents reported borrowing money from financial firms or to friends and family. This means that people are not using much leverage.
  • Only 8% of all cryptocurrency owners completed deep research before purchasing, with 16% doing no prior research.
  • Over 1 in 3 have never checked the value of their cryptocurrency since purchasing.
  • Around 40% of cryptocurrency owners expect to hold it for 3 or more years, while some report selling some or all of it already.
Posted by Lyndsey Annabel in Crypto
20
Mar
2021

What Makes Cryptocurrency Go Up in Value?

There are millions of cryptocurrencies circulating these days. The crypto market is booming. Here are some reasons why Cryptocurrencies are valuable.

  1. Supply and demand. We are still in a transition but this can be a thing of the future. Many people don’t want to be out of the game so many are investing early in crypto currencies.
  2. Cryptocurrency is a store of value that cannot be censored. The block chain network allows us to upload digital files and information which can be stored in this network and verify cryptographically without the requirement of trust. This system represents a ledger technology that can be accessible to anyone and anywhere simultaneously.
  3. It is scarce. It is scarce because of the protocol to only to limit the unit of currency.
  4. It is useful because it allows people to do things with money we have never previously been able to do. It is a programmable money that operates in a digital economy that has no physical borders.

What does this digital currency allow us to do?

 

 

 

 

 

  • Send money anywhere, anytime to anyone (Essentially, it has no limit on the movement of money.
  • Send us much or as little as we like for negligible fees.
  • Send money potentially anonymously and with almost no delay.
  • The block chain allows us t verify all information- proof of work, ownership, existence etc.
Posted by Lyndsey Annabel in Crypto
20
Jan
2021

Can We Buy an Item With The Use of Cryptocurrency?

People critique cryptocurrencies as something that they are claiming to be but they are not. Up to this time, one cannot use cryptocurrency to purchase items like traditional currency does. It would be amazing if a person can use these digital currencies to purchase something in the grocery or in malls. This isn’t yet possible because it’s still in the early stages and there are many skepticisms on the use of this. As far as this article goes, cryptocurrencies cannot be used to buy or spend. There are merely digital tokens. However the founders of these digital tokens are looking to change this on the years to come. They are hoping for wider acceptance and adaptation of these digital currencies.

Who Accepts Bitcoin as Payment? Where Can I Spend Crypto?

Posted by Lyndsey Annabel
18
Jan
2021

How did cryptocurrency come about?

The term cryptography describes a science that encrypts information or data and protects it accordingly. The first approach to a digital currency based on cryptography goes back to the end of the last millennium, namely to the year 1998. However, another ten years passed before it was actually implemented, until a peer-to in November 2008 under the identity of Satoshi Nakamato -Peer Electronic Cash System has been published – a payment system that links the payee directly with the payer without the intermediary of a bank.

Even if one assumes today that behind this pseudonym there is a whole group of developers who fell into disagreements in the course of the process, it is undisputed what they created. They published the so-called Bitcoin protocol in a whitepaper. This protocol is considered to be the founding document of virtual currencies and is a kind of answer to the classic banking system.

Thus, if you want to invest in cryptocurrency then reading crypto mixer review is helpful.

 

Bitcoin as the first digital currency

In 2009, the starting signal was given for the new era of digital payments. Bitcoin was the very first digital currency and is still by far the best-known crypto coin worldwide. So when you talk about the history of cryptocurrencies, you are also talking about the history of bitcoin.

The price increase of Bitcoin has since attracted countless imitators. There are now said to be more than 1,000 cryptocurrencies – the best known besides Bitcoin are Ethereum, Ripple and Cardano.

But what is a Bitcoin anyway and how does this payment system work?

Bitcoins are often compared to gold and the bitcoins are also “mined”, but bitcoins are not real money. They only exist virtually and are managed in a digital wallet, a so-called Bitcoin wallet, in which the private cryptographic keys for your own Bitcoins are stored. These can be sent to a different address, i.e. a different wallet, at any time across the entire Bitcoin network without data being stored – the process is completely anonymous and without middlemen such as banks. The decentralized network that manages the credits and payments is called the blockchain. The blockchain is a distributed data structure – to put it simply, a kind of digital cash book with which every transaction can be precisely tracked.

Posted by Lyndsey Annabel in Crypto
20
Dec
2020

What We need To Know About Cryptocurrency

The word Cryptocurrency has been a popular word in the internet for the past years. Cryptocurrency is considered as an intangible digital asset that is protected by a complex encryption known as cryptography. This protects and authenticates every transaction  connected with Cryptocurrency. This will also ensure, to manage the creation of new units of this digital currency. Cryptocurrencies are intended to function as a decentralized medium of exchange. They are a non-partisan financial institution and not connected with a central authority. The most popular cryptocurrency is Bitcoin. There are many other kinds of these digital currencies like Ripple, LiteCoin, and others. However popular many investors have been still skeptical of its use and reliability. Because of its freshness in the market there are many uncharted territory to explore about Cryptocurrencies. Investors are wise enough to learn more about them before investing on them.

 

Posted by Lyndsey Annabel in Crypto
20
Nov
2020

Bitcoin a Cryptocurrency

The most popular cryptocurrency is bitcoin. This system was created by Satoshi Nakamoto. It is not known if Satoshi really exists or is referring to a group of people who brought about the use of Bitcoin.

 

 

 

 

 

To understand further how Bitcoin works, it grants its users to generate a Bitcoin wallet. The users automatically become the owner, guardian, and maker of the Financial instrument. The wallet is where the users save their bitcoins. This is also where Bitcoin mining is performed. compare to real money, Bitcoin Mining is a process wherein the verification of amounts to be transferred takes place. It is where a user transfers a cryptocurrency to another account. An encryption process takes place which is then registered in the blockchain. Just like when you log in to any site, each bitcoin wallet has its own password and numbering. Confidentiality is dependent on its user. Bitcoin does not disclose the identity of the wallet’s owner since only their wallet number is the one available. This is one of its critical points because one is not able to identify the real user compared to the traditional banking system.

Posted by Lyndsey Annabel in Crypto
01
Oct
2020

Cryptocurrencies – Subject To New Threats

Whether or not a company accepts a cryptocurrency, it is still subject to the risk of new threats. Bitcoin, the most popular cryptocurrency at the moment, has experienced rapid growth in terms of perceived value. A year ago, the exchange rate was $ 104 per Bitcoin, peaking at around $ 1,100 in December 2013. This explosion in value has sparked new advanced threats centered on the creation (“mining”) and theft of Bitcoin. No device has remained immune to the phenomenon, including mobile environments, virtualization platforms such as VMware, and endpoint devices.

The Risks of Investing in Cryptocurrency

Companies that accept payments in cryptocurrencies are exposing themselves to new types of risk. Some points must be considered very carefully: immediately store or convert the digital money received, pay suppliers in traditional or cryptographic currency, what methods to use to convert cryptocurrencies into normal currency if necessary. Storing crypto money as a form of asset or payment exposes the company to risks similar to those of any other digital asset, not to mention extreme fluctuations in market values. Using a payment processor to convert cryptocurrencies into traditional money can mitigate this risk. But if a company decides to leave these options out and keep digital money, this is where the implications of such a choice would come in as most regulators do not currently insure assets of this type. To ensure maximum security, it is highly advisable to keep Bitcoins in an isolated storage resource disconnected from everything else.

The new advances made by cryptocurrencies offer companies interesting opportunities to compete in the global market; however, new spaces have also been created for advanced threats, also provoked from within companies themselves. It is, therefore, necessary to be aware of the implications that this phenomenon presents in terms of digital security regardless of the attitude that a company may have towards cryptographic currencies. Careful examination of users and internal assets is essential for maximum protection against fraud and vulnerabilities and new waves of attacks. Finally, businesses need to understand the security risks associated with accepting cryptocurrencies.

Posted by Lyndsey Annabel
19
Sep
2020

How to Avoid Scams when getting into Cryptocurrency

Becoming involved with cryptocurrency most definitely has its ups and downs. There is bound to be risks and dangers associated with such transactions. Scams are everywhere, Especially online.

Expert advice that when you get into the world of cryptocurrency it is best to get involved with companies and startups that are blockchain-powered, those that track detailed transaction data.

Assessing whether or not they have tangible and solid business plans is an essential, and checking up on their rules and digital currency liquidity is a bonus to ensure a smooth and convenient transaction.

Posted by Lyndsey Annabel in Crypto
19
Aug
2020

Cryptocurrencies and the Future

The Digital age has brought about the use of digital currency. This is also popularly known as Cryptocurrencies. This came about by the use of cryptography. This technique uses advanced encryption techniques that encode information.
 
While cryptocurrency is gaining popularity some may still be hesitant about this concept. Users take to consider many limitations in its use compared to traditional currency. Users are considering safety measures that come.

Cryptocurrency: The Future of Finance and Money

when using it. They consider issues like losing digital earnings when a computer gets corrupted. Or the possibility of digital earnings stolen by hackers. Although this may improve as technology advances many are still questioning its existence. But still, cryptocurrency is widely used in the net.
 
Many users are embracing its existence thus the government is scrutinizing its use. Stricter regulations are also imposed. This will strengthen the use of cryptocurrency.
Posted by Lyndsey Annabel
09
Jun
2020

Are Bitcoin Certificates A Sensible Investment?

Many investors have raised eyebrows on Bitcoin certificates because these certificates were always too speculative, too uncertain, and “without intrinsic value”. But this initial assessment eventually changes for some investors who have tried investing in Bitcoin certificates.

What is a Bitcoin and how it works?

Are Bitcoins a sensible investment?

Cryptocurrencies like Bitcoin are definitely only suitable for very risk-conscious investors. There is a risk of a total loss, theft of your own wallet, loss of access data, becoming a victim of fraud (especially when new currencies (ICOs) are published), etc. Therefore, only “play money” should be used, if at all. This means invest only with money that does not bring you economic difficulties in the event of losses.

Why invest in Bitcoin?

Although Bitcoin and other cryptocurrencies have no intrinsic value, it can still bring crisis protection to some degree, at least as long as there are still people who believe in the currencies.

Similar to gold, it can be assumed that if a major crash is imminent, the prices of the cryptocurrencies are likely to rise sharply. Simply because trust in the central bank’s paper money system is waning.

Conversely, cryptocurrencies are more likely to get stuck in a stock market boom like the one in December 2019.

Assets that are likely to behave in the opposite direction to other assets are good as a hedge, which is why some investors use cryptocurrencies in addition to gold to diversify for the crash. It will then be seen whether there will be a new financial crisis.

Regardless of that, there is an assumption that the long-term rates of the two cryptocurrencies will rise – even without a crash. But this statement is more of a forecast without a real basis.

Are Bitcoin certificates a perfect investment vehicle?

The participation certificates or simply called Bitcoin certificates have advantages and disadvantages. Again, Bitcoin certificates are just as risky and speculative as a direct investment in Bitcoin.

Bitcoin certificates have an invaluable advantage. You can keep previous securities account and just buy these certificates and then you have a foot in the world of cryptocurrencies.

Disadvantages of Bitcoin certificates

  • Tax disadvantage: Certificates fall regularly under the flat tax of almost 26 percent when buying or selling. Just like ETF or stocks. After the allowance of 801 euros (single) is exceeded, this tax always applies to your winnings. It is different with a direct investment in Bitcoin and its sale: From a tax perspective, these are “private sales transactions”. There is an allowance of 600 euros per year. Any income above this amount must be taxed at the personal income tax rate. As a rule, this should be higher than the 26 percent flat tax. BUT: If you hold your Bitcoin for more than a year, the entire proceeds are tax free. Here, Bitcoin is treated like physical gold, an invaluable benefit of direct investment.
  • Issuer risk: Certificates are always subject to the risk that the issuing bank could go bankrupt. This can lead to significant losses up to the total loss of you. Especially when everyone is talking about a crash, a risk that should not be underestimated. So always choose a stable and healthy bank as an issuer.
  • Bitcoin crash, resulting in a total loss. Cancellation of the certificate by the issuer: In the securities prospectus of the certificate you will often find clauses stating that the bank may terminate the certificate in the event of unforeseen events with a period of notice. Now your Bitcoin certificates are currently in the red and the bank will cancel them in 3 months, for example. Although the certificates have no due date (open end certificates), a due date can still occur.
  • Bitcoin crashes and disappears from the market: no question – if the base value (Bitcoin) of a certificate dies, the certificate no longer has any value and you suffer a total loss. Admittedly, this also applies to direct investment.
  • Running costs: Only death is free. Of course, the issuer of a Bitcoin certificate also wants his part of the cake. For my open-end certificates, these are running costs of 1.5% per year that gnaw on my return. But you can usually get over it.

Advantages of Bitcoin certificates

  • Fast and liquid tradable: Because the transaction is carried out via the regular securities account, you can get in and out of the market in a matter of seconds. For direct investments in cryptocurrencies, this is usually a longer-term procedure until your own money is actually back in the account
  • Easy tax handling through flat tax through your broker
  • No risk of hacker attacks, theft of your wallet or dubious Bitcoin exchanges or their bankruptcies
  • Participation of almost 1: 1 of the underlying asset

Conclusion

It is not advisable to invest a large part of your assets in Bitcoin certificates mainly because they are speculative and high-risk investments. And if you have borrowed a capital to invest (https://www.southeasttitleloans.com/lending-options/), do not invest in participation certificates. To keep it simple, if Bitcoin dies, then your entire invested capital will also die and you don’t want that to happen. So if you want to diversify and include a Bitcoin certificate in your portfolio, keep it small and simple.

Posted by Lyndsey Annabel in Crypto
18
Apr
2020

Bitcoin And Cryptocurrencies

Decentralized Proof of Ownership cryptocurrencies has become increasingly popular in recent years. Analysts calculate that over 300 types of cryptocurrencies are currently in use. Bitcoin and Litecoin are two of the most popular, while companies continue to grow a platform suitable for accepting these cryptocurrencies. An alternative payment platform offers numerous benefits to both buyers and sellers, such as lower collection costs for the seller and a global instant payment system for the consumer. The rapid growth in the value of Bitcoin and Litecoin has created a new market for seigniorage, digital asset trading, and a global payment system. Because of this, a new market for fraud and digital threats also exists today.

Digital currencies are based on the principle of decentralization; no one “owns” the protocol and everyone can participate in it. Likewise, no one owns the Internet. If an individual wants to create a website, all they need is a computer and a gateway to the Internet. The same concept applies to Bitcoin. Anyone can participate in the protocol and make it secure. The recent introduction of cryptocurrencies was designed to use public-key cryptographic techniques to ensure the security, traceability, and verification of each transaction. Businesses are quickly realizing that cryptocurrencies, particularly Bitcoin, have now become mainstream in many areas of the world. Due to the global nature of the internet, a payment through Bitcoin and other similar currencies is instant and free of costs. A truly remarkable advantage when you think of credit card fees, which can weigh on the merchant up to 5% of each transaction.

Posted by Lyndsey Annabel
14
Mar
2020

Bitcoin Not Immune To Financial Market Crisis

The recent slump may come as a surprise to observers, but it is not only within the scope of what is known from Bitcoin, but is also in harmony with the financial markets. Yesterday even the “crisis currency” had given way to gold, if only by five percent.

What Happens to Bitcoin if Stock Markets Crash into a Bear Market?

However, anyone who has seen Bitcoin as a new “safe haven” in times of crisis in recent months should now be disappointed. In places, Bitcoin was even given the nickname “digital gold”.

Experts stay relaxed

For experts like Kai Kuljurgis, founder of the crypto investment platform Coindex, the recent drop in price is more an effect of the beginning professionalization of the market. A lot of institutional money has flowed into crypto values ​​in recent months. That drove the courses. However, new investors, in particular, would quickly withdraw.

Die-hard Bitcoin supporters do not see the recent price losses as a drama, but rather a good opportunity to buy cheaply.

Posted by Lyndsey Annabel in Crypto
28
Feb
2020

The Cryptocurrencies of the Cannabis Industry

Due to federal legislations, majority of cannabis-related businesses and companies are still having the biggest challenge of utilizing the banks for their transactions. As a response to address this issue, the creation of digital currencies increases in support to this kind of market and the Stocktrade’s complete coverage of Canadian marijuana stocks. Cryptocurrency is generally a big help for the cannabis market or to those individuals who wants to purchase pot and carry out weed transactions.

Bitcoin is the main crypto that popularly dominates the virtual space and how does Bitcoin actually work is an exciting thing to learn. Yet, there are alternative cryptocurrencies that penetrate the weed industry offering specific pot transactions. The most common cannabis-based crypto are, but not limited to, CannabisCoin, HempCoin, PotCoin, CannaCoin, and DopeCoin to name a few.

Cannabis-based Cryptocurrencies

Here are some details on those crypto that popularly dominating the weed sector.

CannabisCoin

CannabisCoin or CANN operates to assist companies to have easy transactions of medical marijuana within the dispensaries. This marijuana-based crypto utilizes digital wallets as well in order to manage and store coins.

HempCoin

The goal of HempCoin (THC) is to provide funding for the farming industry of weeds and the use of medical or recreational marijuana in the dispensaries. The website of HempCoin is said to be useful in the facilitation of transactions among weed farmers and local dispensaries. Purchasing of weed farming tools and equipment can be done through the website of HempCoin.

PotCoin

PotCoin is considered as the oldest cryptocurrencies within the weed industry. Solution for banking problems for those who are seeking transaction in legal marijuana is the main design of this cannabis-based cryptocurrency. Without performing any bank transaction or clearing house, the trading of PotCoin is made to life. PotCoin trades into three market places in which people are allowed to validate transactions that are blocked based on the number of coins they have on hand. In addition, the speed of transaction for POT is about 40 seconds which is really impressive compared to Bitcoin.

“New features for this crypto include HD wallets, synch times reduction, and faster synchronization of network.

DopeCoin

The mission of DopeCoin or DOPE is primarily to offer marijuana aficionados with doing their business in a more secure and modern way. Based on their website, users of DOPE can transact free of charge pseudo-anonymously. However, this should be done for just under a minute.

CannaCoin

Operating under thee Peer2Peer technology which is a decentralized blockchain, CannaCoin or CNN became known as one of the cannabis crypto. It works to provide developments of future crypto applications in relation to the production, cryptocurrency processing, vape station creation, and other cannabis-related businesses.

Posted by Lyndsey Annabel in Crypto
26
Dec
2019

Applying For A Cryptocurrency Loan?

Almost all people know what you are talking about when borrowing money. Then you go to the bank and you may receive a sum of money. For example, to start your own business, you can contact traditional or non-traditional financial institutions such as New Horizons. Yet nowadays there are also other things that you can borrow than the euro. Namely cryptocurrency. But how can you borrow such a cryptocurrency? Let’s take a look at Bitcoin Lending.

What is Bitcoin lending?

This is a way for bitcoin holders to earn extra money. You lend your cryptocurrency to someone else for a certain amount. It works just like fiat money or just borrow money. In this way, you can also borrow cryptocurrency. Cryptocurrency is sometimes used as collateral for loans, but that is not the case here. The whole idea is that someone will borrow cryptocurrency to make a profit with it.

Finally, after a certain period, he returns the cryptocurrency to the original owner, with an extra sum of money. The borrower can then sell the borrowed goods and buy a new one for a profit. This way both parties can earn a little extra. Will 2020 be the year in which cryptos will be adopted en masse?

Peer to peer borrowing

Bitcoin lending, also called bitcoin financing, is a form of peer to peer lending. But what exactly does that mean? Peer to peer borrowing is basically investing your money in a loan from a private person. It is a loan that does not involve a bank. An example of this p2p borrowing is: Someone is urgently looking for 2000 euros and you have that left. You then lend that directly to that person, who returns it with interest after a while.

The same works for cryptocurrency. Someone wants a specific cryptocurrency, you have that, you lend it to that person. After a while, it returns the amount of cryptocurrency with a sum of money. What he does well with your loan in the meantime doesn’t matter. You won’t lose anything with it.

Blockchain as an ideal loan aid

Blockchain is very useful when you want to apply for a loan. That does not only have to be borrowing money but can also be done when borrowing cryptocurrency. Many people don’t really know what blockchain is and what it actually means. That’s because it hasn’t been around that long. It was conceived at the same time with the arrival of the bitcoin system. But what is it anyway? Perhaps this article about Bitcoin for dummies helps you to understand things better.

A blockchain can easily be compared with a ledger. A lot of data, including financial facts, is stored together. The biggest difference between a ledger and a blockchain is that a ledger is linked to a specific thing. For example, the accounting of a company. A ledger is used for this.

Open and decentralized

However, a blockchain is open and decentralized, meaning that nobody owns the data. So it belongs to everyone. It is an open network in which everyone can participate if they want to. You can, therefore, compare this part with the internet. It belongs to nobody and anyone who wants can use it. The advantage of this is that the data is spread everywhere and therefore cannot easily be stolen or manipulated.

In short, a blockchain is a large list of data that everyone can see and has access to. Everyone can make an adjustment, which is immediately implemented for everyone. The advantage of a blockchain is that you can only add data at the bottom of the list. Old data cannot be deleted or modified. Because of this, many people rely on a blockchain.

This is the principle that is also used with bitcoins. Since cryptocurrency is not something tangible, you cannot just check whether someone actually has it. You can easily check that in a blockchain. You can only enter a transaction if the cryptocurrency has been sold to you before. This of course also gives a safe feeling when borrowing and lending cryptocurrency.

You agree that you purchase a quantity of cryptocurrency and that the initial owner will buy it back later. Suppose you would borrow a bitcoin from someone for € 200. Then you buy the bitcoin for, for example, € 2000, – and later the owner buys back what you borrowed from you for € 1800. You can see that money as collateral.

Conclusion borrowing cryptocurrency

Bitcoin lending is the purchase of cryptocurrency such as bitcoins with the agreement that the seller will buy back the bitcoin. In a sense, the money is the collateral for the loan. Bitcoin lending is made possible by blockchain, a long list with a lot of data that is accessible to everyone. Such a list of data is also used for other purposes, such as applying for a mortgage loan. Do you have Bitcoin in your portfolio and are you prepared to earn extra money with this? Think about securing your Bitcoins with Bitbond.

Posted by Lyndsey Annabel in Crypto