Good morning, traders. Binance completed the update to its platform overnight and Bitcoin price continues to feel pressure. With CBOE expiry later today, traders must remain vigilant if they are interested in trading this area as we could likely see price pop up at/near that time. However, we may see more movement down toward $6100 first. Notably, 1D OBV has ...
Bitcoin faced extreme headwinds in March when Alphabet's Google (ticker: GOOG, GOOGL) joined Facebook (FB) in banning ads for cryptocurrencies, which lowered liquidity in the market. In an abrupt reversal, Facebook said on June 26 that it would allow some ads for cryptocurrencies, but continues its ban against initial coin offerings and binary options.
No one knows who the real owners behind btc-e are. Apparently the headquarters of the company are in Bulgaria and the support staff is more familiar with Russian then with English, but the rest is a mystery. The company operates a complicated deposit and withdrawal process that relays the money through several banks and payment processors before depositing them to your account. If you plan to deposit on BTC-E, make sure to follow their deposit instructions to the letter. Because the deposits go through a web of banks, tracking down a lost deposit is near to impossible.
Dangers of volatility – Bitcoin is the most volatile of all assets, including the stock and gold markets. Whilst volatility brings with it opportunity to day trade bitcoin for a profit, it also brings with it doubt and unpredictability. For example, in June 2017 bitcoin was being traded at $2,983. It then lost 30% in value and crashed down to $1,992, only to climb up to $4,764 in September, boasting a 139% gain. You must ensure your bitcoin day trading strategies take into account the uncertainty.
Keep in mind, Coinbase charges a 3.99% processing fee for all credit card transactions. I’d recommend using a credit card that gives you at least 3% cash back so you can offset some of the fees (I’ll cover the fee structure in more detail in the next section). You can use PayPay for selling currency, buy not buying currency; for PayPal the funds are available instantly but have lower payout limits. The bank account is usually your best bet.
Bitcoin was developed through technology that executes completely online. It is stored virtually, on wallets or exchanges. Everything is online and one can remotely transfer and send value to anyone online (stored in bitcoin as a currency). One can’t touch their bitcoins the same way one can touch physical things such as a dollar bill, computer desk, a tree etc.
Bitcoin offers benefits to merchants as well, as transactions that involve the digital currency are secure and irreversible. Without the risk of fraud or fraudulent chargebacks, merchants can offer their products at a discount thereby generating more sales or pocket the difference themselves. In addition, with card processors out of the picture, merchants can save on the percentage cut taken by Visa / MasterCard.
Hi, could you review Coinut? www.coinut.com It is a Singapore registered exchange platform, and it claims that they using C++ so that having a smooth experience (not too sure though). It also support fiat currency (USD & SGD). They are having a low transaction fee for takers and FREE for makers tho. Seems like the founder are graduated from National University of Singapore (NUS - pHD in CS) and he is also one of the early members of Litecoin developer. Please do check it out and review! As sometimes I really struggle which to use.
Ethereum is also being used as a platform to launch other cryptocurrencies. Because of the ERC20 token standard defined by the Ethereum Foundation, other developers can issue their own versions of this token and raise funds with an initial coin offering (ICO). In this fundraising strategy, the issuers of the token set an amount they want to raise, offer it in a crowdsale, and receive Ether in exchange. Billions of dollars have been raised by ICOs on the Ethereum platform in the last two years, and one of the most valuable cryptocurrencies in the world, EOS, is an ERC20 token.
But here are the basics… a blockchain is a continuously growing list of records, called blocks, which are linked and secured using cryptography. By design, blockchains are inherently resistant to modification of the data, and serve as a public ledger of transactions between two parties. To date, the best analogy I’ve heard for blockchain compares it to a Google Doc:
Bitcoin trading really is not much different to any other asset you can trade - maybe just a bit more volatile, but that is a good thing if you want to trade it! You will have to devide whether or not to trade the asset (bitcoin) itself or some derivative (financial “bet”). I recommend the latter as it allows you to participate in both bull and bear markets. If you simply buy the asset (Bitcoin) you can only participate in rising prices. The derivative also allows you to leverage your position. Having that said : LEVERAGE IS A DOUBLE SIDED SWORD! Whenever you trade with leverage make sure you are mentally ready to lose everything that is on your trading account (in other words: make sure not to put too much money on your trading account). Moreover, do not trade something you do not understand!
As of May 2018, over 1,800 cryptocurrency specifications existed. Within a cryptocurrency system, the safety, integrity and balance of ledgers is maintained by a community of mutually distrustful parties referred to as miners: who use their computers to help validate and timestamp transactions, adding them to the ledger in accordance with a particular timestamping scheme.
In May 2018, Bitcoin Gold (and two other cryptocurrencies) were hit by a successful 51% hashing attack by an unknown actor, in which exchanges lost estimated $18m. In June 2018, Korean exchange Coinrail was hacked, losing US$37 million worth of altcoin. Fear surrounding the hack was blamed for a $42 billion cryptocurrency market selloff. On 9 July 2018 the exchange Bancor had $23.5 million in cryptocurrency stolen.
If your objective is to earn substantial money as a second income, then you are better off purchasing cryptocoins with cash instead of mining them, and then tucking them away in the hopes that they will jump in value like gold or silver bullion. If your objective is to make a few digital bucks and spend them somehow, then you just might have a slow way to do that with mining.
Once again, Bitcoin is dangerously close to the local lows. Since June, we have many times seen that bulls stand up for protection of the benchmark of the cryptocurrency on the falls to around $6100. Meanwhile, reversals to decline on the BTCUSD pair are happening on low levels. Last week, the reach of just $6500 became a turning point to the next reversal. It ...
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