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Crypto Investing And Crypto Trading – Tips To Do It Safely And Successfully

According to studies, about 36.5 million of the population in the United States made investments in cryptocurrency. Although the goal of people who have taken on crypto trading is to earn money, many Americans have lost their investments primarily because they have decided to quit along the way or have become a victim of crypto scams. In 2018 alone, American crypto traders lost approximately $1.7 billion. But this isn’t and shouldn’t always be the case as there are a few things that you could do to safely, proficiently and successfully trade cryptocurrencies.

Tips to Safely Invest and Trade Cryptocurrency

Regardless of the investment that you make, there will be risks attached to it. This includes investing in cryptocurrencies which experts say that it is one of the investment options that carries so much risk. Nonetheless, cryptocurrencies are also one of the hottest commodities to invest and trade in. A lot of individuals believe that digital currencies are the future of finance. However, if you intend to venture into crypto trading, there are a number of things you need to consider for you to make better informed choices as well as increase your success rate.

Choose a Reliable Crypto Broker

One of the most important things to consider when venturing into crypto trading or crypto investing and increasing your success in the market is to choose a reputable crypto broker. Check out. There are a lot of reliable crypto brokers to choose from and all of them have different strengths and weaknesses. It is then imperative that you compare and contrast your choices so that it would address as well as match your crypto trading or crypto investing needs and styles.

Do your Research on Exchange

Prior to investing even a dollar, you first need to research on cryptocurrency exchanges. Crypto trading/investing platforms would provide a way for to buy and sell cryptocurrencies, however there are over 500 crypto exchanges to select from. Hence, doing your research and learning from those who have more experience in crypto trading or crypto investing is essential and important to achieve your goal.

Prepare Yourself for Volatility

Since you’re interested in trading or investing in cryptocurrency, you should be aware of how volatile the market can be where you would see dramatic rises and falls in prices. So, you have to make certain you are prepared for this. If you think your investment portfolio or your mental health cannot handle such, crypto trading/investing may not be a smart choice for you.

Determine How to Store Your Cryptocurrency

When buying cryptocurrency, you should have a place to store it. Either you store it in a digital wallet or on an exchange. Again, there are various types of digital wallets where each has its own sets of advantages, technical requirements, as well as level of security. In terms of exchanges, you need to research for a good storage before you begin investing.

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.

Blockchain and State Insurance Laws – Features vs. Requirements

Blockchain technology has gained traction as a helpful solution in reducing costs, fraud risks and/or cyber attacks in various financial services sectors. Yet the one sector that has been struggling with blockchain adoption is the insurance industry. Primarily because basic blockchain features, specifically anonymity of participants, do not conform with basic regulatory and legal requirements that tend to vary in certain jurisdictions.

Federal and state insurance laws require insurance holders to provide personal data and other information in relation to policy coverage. Yet provision of such information is subject to data and privacy protection laws. While blockchain technology allows anonymity between transacting parties, transactions run on a decentralized system that reduces information failure, which at times, poses an advantage to one party over another. Financial transactions carried in the blockchain ledger are blocks of encrypted pieces of stored information.

An Example of How Automobile Insurance Laws Work

In citing an example of how automobile insurance laws work, reference is made to vehicle insurance requirements in North Carolina. The state is one of several U.S. jurisdictions that require additional insurance protection for uninsured and underinsured third parties. Uninsured or underinsured third parties who suffer from bodily injury, damage to property or death as results of a car accident, can make financial claims from the car insurance provider of the driver at fault.

The Old North State also requires motorists who drive rented/leased vehicles, or drive vehicles that they do not own, to obtain non-owner insurance coverage as financial protection

Moreover, the state does not acknowledge out-of-state insurance policies as acceptable compliance with NC’s insurance laws. Primarily because the state laws require all vehicles registered with North Carolina’s Division of Motor Vehicles (DMV) to purchase continuous liability insurance coverage from a North Carolina-licensed insurance company.

Under the state’s laws, NC’s insurance companies are required to notify the NC-DMV if an owner of a vehicle has canceled his liability insurance policy or has allowed his policy to expire for any reason. The NC-DMV will then send the owner of the vehicle, a notification about the terminated or expired policy, whilst giving the car owner 10 days to respond.

Failure to respond or for that matter, obtain continuous liability coverage will result in the revocation and surrender of the car’s license plate. In addition, the car owner will have to pay civil penalties, late fees and interests.

Apparently, all these denote that transactions related to insurance coverage in the Tar Heel State are for the account of the vehicle owner only. Unlike goods and other financial services that can be transacted anonymously by way of blockchain, insurance policy transactions must point and be confined to the account of a purchaser, and whose identity must be specified for reporting purposes.

Cost of Liability Insurance Policies, a Greater Concern for NC Motorists

The greater concern among owners of vehicles in North Carolina is the cost of liability insurance and not the manner by which they can be bought. NC’s minimum coverage amounts are higher when compared to other states.

That is why many North Carolinians prefer to lease rather than own a car, and then buy a non-owner insurance policy for their protection and as a cost-efficient means of complying with insurance laws. In the event that they decide to buy and own a car, the non-owner insurance can simply be converted into the more conforming type of insurance coverage with little if no extra costs.

As there are also many providers of non-owner insurance in NC, those looking for one can simply go to website of Non Owners Car Insurance NC to compare insurance quotes, so they can save on auto insurance and cost of SR22 or proof of minimum liability insurance coverage.

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.

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.
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.
It is scarce. It is scarce because of the protocol to only to limit the unit of currency.
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.

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?

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.

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.

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.

The Goal Of Getting An Insurance For Your Home And Your Digital Assets

Homeowners get a homeowners insurance policy for the same purpose one takes out a health insurance or an automobile insurance. In the event a home is damaged because of a disaster, possessions lost due to theft, or someone gets injured within your property, a homeowners insurance would greatly help the owner handle and deal with the financial consequences. A homeowners insurance usually combines two different kinds of protection, liability insurance as well as hazard insurance. Visit homeownersinsurancecoverage.com to learn more of these coverage.

The Goal Of Getting An Insurance

The most basic aim of purchasing an insurance, like a homeowners insurance, is to provide you financial protection in order for you to be financially whole after a loss. You will agree to pay an insurance provider a certain fee, which is usually paid on a monthly basis, for a period of time until you have completed the cost of the insurance policy you have chosen. In return, the insurer guarantees to shoulder the large financial burden of an uncertain or unforeseen loss in the future. Hence, with a homeowners insurance, you are protected from the financial obligations that comes with the loss, making a homeowners insurance very much important. Go to homeownersinsurancecoverage.com to check on possible coverages to ensure you are well protected.

There are various types of insurance in the market wherein you could insure almost anything such as cars, business, health, and life. One of the assets that some people have is cryptocurrency. Since the cryptocurrency markets are starting to mature and the use of digital currencies becoming prevalent, they are starting to appeal and draw in more players from different industries, including the insurance industry. This means that your crypto assets could now be insured.

According to a report by Bloomberg, cryptocurrency insurance is primed and ready to be a “big opportunity”. A representative of Allianz, one of the biggest insurance providers in the world, told Bloomberg that the insurance company was exploring various options for insurance product as well as coverage in the cryptocurrency markets since cryptocurrencies were starting to become more pertinent, significant, and widespread on the economy of the world.

Why Insurance is Needed in the Cryptocurrency Space

The cryptocurrency business, at present, which predominantly consists of exchanges and startups, isn’t large enough to provide the insurance industry ample returns or revenues. Based on information which is available to the public, even Coinbase, the largest cryptocurrency exchange in North America, holds just 2% of its coins which is insured by Lloyd’s of London. These digital coins are kept in hot storage, which are connected to the Internet, whereas the remaining are disconnected and only little is known regarding the status of their insurance.

If you take into consideration the instability and variability of the cryptocurrency space, insurance for digital assets becomes imperative. The valuation of cryptocurrencies which could skyrocket at any time has caused immense theft of digital wallets as well as exchanges. In January 2019, for instance, $500 million worth of cryptocurrency was stolen from Coincheck. The increasing attacks and hacks made the cryptocurrency space vulnerable which the mainstream or conventional financial space either rejects to take seriously or ignore.

Quick Glimpse of Cryptocurrencies as Part of Norges Lifestyle

Cryptocurrencies are very much a part of Norges lifestyle and of Norway’s taxation system; bitcoins as assets, as income and as a means, are all subject to tax. That being said cryptocurrency is legal in Norway, but is classified as an asset and not recognized as a form of currency.

Tax rates on digital money earned from mining activities depend on the size or scale of the blockchain transactions from which the income was earned. On the other hand, income from the sale of cryptocurrencies are recognized as income from sale of capital assets, and therefore subject to payment of Capital Gains Tax.

Since the Norwegian government actively takes part in controlling the economies of the nation, all cryptocurrency market operators are required to register with the Norwegian Financial Supervisory Authority. The latter is the government agency tasked to oversee that all Norwegian financial companies are operating in accordance with the laws and regulations legislated by Stortinget, Norway’s supreme legislature.

Inasmuch as cryptocurrencies are recognized as assets in Norway, Norges banks do not release loàn proceeds by way of digital money. After all, the value of crypto money is volatile, being dependent on the level of supply and demand. That is why not even a short-term no-credit check loan per minute or lån på minuttet uten kredittsjekk can be released in the form of digital currency.

How Norwegians Buy Cryptocurrencies?

In Norway, the most common form of cryptocurrency in use is bitcoin, while most Norwegians purchase their bitcoins from leading crypto-exchange entity Bitcoins Norway (BN). Mainly because Bitcoins Norway has ties with the largest Norges bank DNB ASA, specifically in relation to the use of the bank’s mobile phone app Vipps. Bitcoin purchasers however must have a registered account with BN through which they can purchase or send bitcoins to other cryptocurrency users.

DNB’s Vipps app enables BN customers to complete their bitcoin transactions using their credit or debit card as mode of payment. That is regardless of whether a BN customer maintains a deposit account with DNB. Statistical reports show that about 43 percent of Vipps app users are not DNB customers, while 27% of the entire Norwegian population are actively using the DNB Vipps app.

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.

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.

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.

Investing in Crypto Exchange is Your Best Move during this Pandemic

The presence of cryptocurrency is strong in various social media sites. This is why it is not a big surprise why there are many people who are reaching out to brokers such as https://moreforexbrokers.com/ja/fx-brokers/ to help them with their crypto investment and journey.

But why is there a global acceptance to cryptocurrency and blockchain technology? What makes it so loved and popular among people these days? Let us try to decipher the mystery behind in the next paragraphs.

Incredible Liquidity Pool

In each and every asset that’s sold or bought regardless if it is FOREX or crypto, one thing will be a mandatory requirement; it needs someone to buy or sell from. The more who are selling and buying, the more liquid the exchange is. Whenever there’s a new crypto exchange that opens, it should populate all the trading pair order books with the sellers and buyers in order to provide a market among users to trade.

This is distributing the trading liquidity from the current exchanges that may adversely impact the smaller exchanges that you may be trading with at the moment. Brokers on the other hand may avoid such issue by means of closely monitoring the market and reacting on the situation.

Lower Slippage Fees and Spread

One very frequent mistake when choosing a crypto exchange particularly the newer ones are doing it based on the low trading. This may seem to be a very appealing proposition as well as logical decision to make the most of fiat deposit. However, there are brokers who are capable of distributing the sells and buys across exchanges that have the most liquidity. This is strategically done to identify where the highest liquidity is for that asset and then, split the order throughout those exchanges.

Traders are using brokers benefit by acquiring the following:

Best Market Rate
Lowest Spread
Minimal Slippage

Increased Pairs to Trade

Depending on the trading volume per day, crypto pairs on each exchange have its own order book for every asset against fiat like EUR, USD and of course, BTC or Bitcoin. Meaning to say, there’s less liquidity that’s available on the exchange that leads to higher slippage charge and spread for the traded asset.

Brokers have the ability to offer assets without any losses in liquidity are such in an advantageous position. Not just this is lowering the fees in slippage and spread, users can also use one broker trade as well as store their assets in a single location without registering with several exchanges.

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.

MA of Singapore Grants Temporary Payment Services Licenses to Crypto Firms

In line with the recent passing of the Payment Services Act, the MAS announced that temporary licenses have been granted to 7 cryptocurrency companies.

The Monetary Authority of Singapore (MAS) named Binance, Bitstamp, Coinbase, Gemini, Upbit, Luno and Wirex as the only cryptocurrency operators permitted to act as payment service providers up to six months. Within the six-month period, the related license applications of the said crypto firms will be approved or rejected by the MAS.

The Monetary Authority granted temporary license-exemption to the aforementioned companies, because they complied with the prerequisite of giving notification of their cryptocurrency operations in Singapore, even before the Payment Services Act passed legislation in January 2020. The MAS, which acts as the central bank of Singapore, made it clear that the unlicensed status will cease once the institution approves or rejects the related applications for payment-services licensure in the country.

Overview of the Payment Services Act of Singapore

The Payment Services Act is described as one that sets the framework for the dynamic and flexible regulation of Singapore’s payment system and providers of payment services. The purpose of which, is to establish regulatory certainty aimed at safeguarding the interest of consumers, whilst encouraging growth and innovation of the country’s payment services and FinTech systems.

”Specific Payment Services”

The regulatory framework of the PS Act applies to licensed payment Institutions that provide “specific payment services” such as account issuance, e-money issuances, merchant acquisitions, domestic money transfers, inward cross-border money transfers, and digital payment tokens. Under the Act, the payment services of cryptocurrency companies fall under the digital payment token classification.

Distinction of Licenses to Conduct Payment Services as a Business, from License to Conduct Money-Changing Services as a Business

Although some payment services may include foreign currency conversion, a licensed payment service provider must be a licensed money-changer when including stand-alone money-changing services as part of its business activities. In the same way, a licensed money changer can conduct only money-changing services, unless the operator obtains a duly approved license to provide payment services.

Distinction of Payment Services from Banking Services

The PS Act also contains prohibitions that distinguish payment services from banking services, by stating that:

Licensed payment service providers are prohibited from storing or accepting e-money as deposits on behalf of Singapore residents and of facilitating e-money cash withdrawals in Singapore dollars. This suggests that all e-money transactions will cover only direct payment transactions.

Moreover, payment service providers conducting e-money issuance as payments are prohibited from lending its customers’ money, or using customers’ money to finance any of the business activities being performed in connection with payment-service operations.

The above distinctions clearly state beforehand that for inquiries on whether the licensed money lender SG City Loan recommends, can loan out cryptocurrency money, the answer is no.

Does the Covid-19 Pandemic makes a Beautiful Time to Invest in Bitcoin?

Leading cryptocurrency which is Bitcoin Is deemed to be a hedge towards inflation primarily because of the reason that its supply has a ceiling of 21 million while its monetary policy is predesigned to reduce the expansion supply by 50% every 4 years. Because of this, any deflationary collapse of the cryptocurrency might be seen as price-bearish development.

At times of deflation, cash is mostly the king due to the drop in general price level is boosting the purchasing power of monetary unit or its ability to buy services and goods. According to Erick Pinos, in comparison to inflation, when people are trying to get the most of their money due to its losing value, during deflation, people become more comfortable with the fiat currency because the value is going up.

Growing Steadily

The rush for cash on the other hand might not have negatively impacted Bitcoin’s prices. This is because deflation will boost the buying power of crypto. As a matter of fact, the rise in purchasing power draws bigger demand for Bitcoin since crypto is being used already as a mode of payment.

Actually, it isn’t strange for there are countless of businesses, merchants and brands that are accepting Bitcoin as payment and many more are beginning to realize the benefits associated to crypto and by diversifying revenue streams.

Not just that, cryptocurrency has great appeal as being a medium of exchange and will most likely keep its trend. Thanks to the continuous growth of technology especially at these times of pandemic. Well, aside from the fact that Bitcoin and other digital currency is being used as a mode of payment, you can see it as well in the financial market. In fact, many people are trading cryptocurrency and using several indicators such as mt4 indicators to gauge where the trend will go and make more money from it.

Digital Gold

From the time of its invented and introduced to the public, Bitcoin has been named as “digital gold”. Much like actual gold, cryptocurrency is divisible, fungible, durable, recognizable and scarce. Both assets do share the same features which are being functional and practical. Bitcoin though has an actual utility as a mode of payment; something that gold is lacking of.

In fact, both the Federal Reserve and the US government released an enormous amount of liquidity in the system for the past several weeks in an effort to contain the fallout from Covid-19 outbreak. Thing is, many of the central banks and governments are having a hard time keeping up with it. Hence, if the virus never stops, it might result to several corporations going to default, investors might have lose trust in using traditional finance and seek for alternative similar to cryptocurrencies and Bitcoin.

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.

Why Bitcoin Miners Ceased Operations Amidst Crisis

The Covid-19 crisis and the resulting volatility of the cryptocurrency market prompted many digital asset farms and independent miners to stop operations.

Contrary to expectations that Bitcoin, being the leading digital asset, will surge once stock market investors shift to cryptocurrency investment during the crisis, the opposite happened. Along with the stock market rush that saw many investors unloading their shares, the bitcoin market reacted similarly. The cryptocurrency market also crashed, resulting to daily losses of about 50% that eventually drove the Bitcoin price below the $4,000 threshold, down to as low as $3,600.

Although the crypto-community saw the prices of cryptocurrencies rising, after the government legislated CARES Act was passed by Senate. The increases though were not enough to warrant that the price of bitcoin will not go down below threshold again.

That being the trend, many bitcoin miners and mining farms went ahead with decisions to halt operations, wary that the worsening health crisis will yet again spur sell offs that only spell losses to digital currency miners.

Why Volatility in Prices Affects Crypto Mining Operations

First off, it should be understood that the profitability of crypto mining operations is not the same as what investors could gain when trading their digital currencies.

Cryptomining after all is cost intensive, particularly with bitcoin; being the most transacted of all digital assets. Where some bitcoin investors may realize gains by leveraging their cryptocurrencies during price volatility, the same cannot be held true for coin miners.

If at the end of the day the price of a bitcoin is much lower than the costs incurred in analyzing and solving encryptions bitcoin transactions for the day, bitcoin miners incur losses. Mainly because the bitcoin compensations they will receive will not be enough to cover the corresponding costs of mining.

Underscoring the Significance of Digital Assets in Times of Economic Crisis

One trait that can distinguish digital assets from physical assets is that the uncertainty of cryotocurrency prices creates an advantage in times of real-cash insolvency. There have been bankruptcy proceedings in which the bankruptcy court was unable to pin down digital money as potential payment in satisfying the legal demands of creditors.

The extreme volatility in the price of bitcoins as demonstrated by the recent bitcoin trading activities, makes digital currency an unlikely asset to demand as settlement for a credit obligation.

Let us say a bankruptcy court includes bitcoins without objection by creditors, because at the time of awarding, the digital currency had a value of $6,600.

However, if in the next few days the price of bitcoin drops to $2,300, the creditor can trade or exchange the digital money for real cash at the lowered price, or wait until the price rises. The creditors can no longer demand for more bitcoins, since they took a risk when they agreed to accept digital currency as settlement of the bankrupt person’s obligations.

When looking for a bankruptcy lawyer san diego businesses recommend those who will be able to make the court understand why cryptocurrencies will not work as a reliable, equitable settlement of credit obligations.

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.

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.

3 Primary Types of Cryptocurrency in Existence Today

Back then, the types and number of cryptocurrency in the world can be counted by the fingers in your hand. These days, good luck with that! Cryptocurrency market grown a lot since its inception. As we proceed in this article, we will be explaining the major types of crypto which are:

Bitcoin
Altcoins and;
Tokens

With blockchain technology, this becomes possible. In fact, Bitcoin was the very first one. From there on, there have been countless of blockchains that were created and these are otherwise referred to as altcoins. Then there were tokens.

A Deeper Look into Blockchain Technology

Alright, so we already know the three main types of crypto. But what about it? How they are different from each and what they can do?

Bitcoin

It’s a digital currency you could send to others; perhaps has a gift, as payment for service and/or product.

Bitcoin acts like money but it is purely in digital form. But that is not where the difference lies. This is decentralized as well or in other words, no bank or third party handles it.

When using Bitcoin, every transaction takes place between users or called as P2P network. Since no third-party is needed, there’s no reason to identity yourself. You could start making payments and remain anonymous. And mind you, there are many people who are investing in Bitcoin and even using their law cash pre settlement funding just to get their hands off of it.

Altcoins

Then come the altcoins. As of the moment, there are literally thousands of it you can find. But never let that scare you. Most of the altcoins are only an alternative version of Bitcoin, but with a bit of tweak on them; hence the name. Some of the altcoins are using different algorithms like for instance, Factom is an altcoin that’s using PoS or Proof of stake. Here, there are no miners, only stakers.

These are individuals who are verifying transactions in exchange of rewards, much like miners. Rather than verifying blocks before anyone else, they’re chosen one by one and taking turns.

Tokens

Among the three, some consider this as being the most interesting. These are totally unique that they don’t have blockchain of their own. They’re being used on decentralized applications or dApps. These are dApps are made to make use of smart contracts which is the reason why they are using tokens.

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.

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