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The Complete Newbie’s Guide to Trading Bitcoins

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massive bitcoin shopping spree

The world’s first official cryptocurrency – bitcoin is responsible for the ignition of the creation of myriad cryptocurrencies. Soon after the introduction of the decentralized payment system, it has started becoming popular not among the community of finance experts but also among the common people.

According to CoinMarketCap, the total value of cryptocurrencies hovering in the market is over $200 billion. Bitcoin is leading the pack in terms of market capital with an astonishing $111.95 billion, followed by Ethereum that has a market cap $22.07 billion, Ripple $11.08 billion and BCH $7.84 billion. Since the big boom in the crypto market that occurred at the end of December in 2017, the world started to talk. Many investors jumped on the bandwagon and invested their money in Bitcoin. If you want kickoff your new career and start trading Bitcoin as well but you do not know how to begin, check out this complete Bitcoin step by step guide.

Getting your first coins

There are a few ways how you can get your first Bitcoins – either from a person (if you sell them let’s say goods or services) or from a crypto exchange or from a BTC ATM. The most preferable way to get bitcoins is through a crypto exchange. Exchanges often require you to go through a verification process so they would prevent people from laundering money. In other words, you will have to provide them with a scan of your ID or of your driving license. Once the verification is completed you can deposit your desired amount in your account and immediately use your funds to purchase Bitcoin. Depending on the exchange you choose, the transfer might be either instant or take up to 5 business days. Note that every exchange does not require to verify your ID, but most of them do.

Choose the right crypto exchange for trading

There are vast amounts of crypto exchanges offering various services at certain cost. Since trading is the concern, there are certain factors you need to consider. These factors are trading fees, transaction time, security, storing facility, insurance, number of cryptocurrencies available for trading, reputation etc.. Most crypto investors and traders choose popular crypto exchanges like CoinBase, Gemini, Kraken, Binance, etc. rather than picking an unknown exchange (since they are not sure whether they can trust companies that are not very famous).

Store your Bitcoins

Storing your Bitcoins on an exchange may not always be the safest option. The risk is lower if you purchased your coins on an exchange that has insurance because they keep the majority of their assets in cold storage, and employ other best-in-class security precautions such as top-tier encryption. Most exchanges, however, do not have insurance and that is why people usually choose to store their coins on crypto wallets. Broadly speaking, there are five kinds of wallets: web (cloud), desktop, mobile, hardware, and paper. You can choose one as per your need.

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DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

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Press Releases

Sorry Mr President, cryptocurrency has a bright future

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Donald Trump has delivered a withering verdict on cryptocurrencies, describing them as ‘not money’ and ‘based on thin air’ – but new research suggests they’ll dominate the world of money in 50 years’ time. The President spoke out as Facebook enters the crypto market with Libra, a new currency that some feel could help add further fuel to the digital payment revolution. Across a series of tweets, he wrote: “I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity. “Similarly, Facebook Libra’s ‘virtual currency’ will have little standing or dependability. If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks, both National and International.” Some feel Trump’s comments aren’t bad news for the crypto market – they’ve actually pushed prices up and brought the matter onto the political agenda after all. It’s difficult to ignore the issue and downplay how serious it is if it’s worth of presidential comment, notwithstanding the identity of the president. Yet the future of cryptocurrency will be decided long after Trump’s tenure ends – whether it’s a one or two term presidency – so it’s important to think about the potential long-term impact of current technological trends. One guide has cast forward to 2069 and predicts a world in which fiat currencies – even the all-conquering US Dollar – will be completely usurped by cryptocurrencies and blockchain networks will replace exchanges. The research has been put together by IG, which trades cryptocurrencies as well as other assets, and looks at what the wider world of trading will look like in 50 years. Its ‘time traveller’s guide’ also predicts the rise of thought-powered technology, predictive AI and holographic trading floors. Quite what Trump would make of thought-powered technology is anyone’s guess but, whether he likes it or not, it appears cryptocurrency is here to stay.    
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Press Releases

Liechtenstein Financial Market Authority Approves State-of-the-Art Tokenized Real Estate Investment Product

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Liechtenstein Financial Market
CROWDLITOKEN AG pioneers and starts distribution of a digital bond – European retail investors benefit as well For the first time in Europe, the Liechtenstein Financial Market Authority (FMA) has approved the offering prospectus for a tokenised real estate investment product. CROWDLITOKEN AG is thus a pioneer for new financial innovations. The Security Token Offering (STO) is now running in European countries. By using blockchain technology, qualified and retail investors are enabled to invest in first-class real estate in Europe. Also the Swiss Financial Market Supervisory Authority (FINMA) has confirmed that no special regulatory approval is needed to market this new class of digital assets in Switzerland. The company CROWDLITOKEN AG, based in Triesen/Liechtenstein, is launching a security token that combines the advantages of direct and indirect real estate investments. CEO Domenic Kurt comments: “This represents an evolution in the world of financial products. New technologies are enabling us to launch a first-class product that not only offers new investment opportunities, but also remedies inefficiencies, cuts costs and safeguards transparency.” In concrete terms, the product is a digital representation of a subordinated bond, whereby both the bond as well as the underlying real estate is digitised via blockchain. The token – named the “CRT” – replicates the income streams and the value changes of the real estate properties. Holders of the tokens can select their properties to invest in and thereby tailor their own portfolio. They will benefit from an attractive yield of 5–7% p.a. The ability to invest small amounts in selected European real estate, the easy tradability on digital stock exchanges (in preparation) and the investment flexibility are key innovative features of this unique real estate investment product. The STO is divided into several phases. The private sale for the first 10 million tokens, which is open to all types of investors, is currently underway with a discount of 25% (equivalent to CHF 0.75 per token, 1 CRT = CHF 1.00). This is followed by the pre-public sale (20%) and public sale (10%). The minimum investment in all these phases is 100 CHF each. CROWDLITOKEN AG targets to raise 100 million tokens through the STO, the funds will be used to build up the real estate portfolio. CROWDLITOKEN’s clear goal is to bring real estate investments into the digital era by using blockchain technology and thus democratise access to the market. For more information, please visit crowdlitoken.com. About CROWDLITOKEN AG CROWDLITOKEN AG is a Liechtenstein-based start-up that provides investors with access to European core real estate via blockchain technology. This is based on real estate-linked security tokens – termed “CRTs” – i.e. a digital representation of a bond that returns a yield equating to 5–7% p.a. CRTs are fully compliant and combine the advantages of direct and indirect real estate investments.
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Press Releases

Globitex Exchange Leads Charge in Trading by Lowering and Removing Fees

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Globitex Exchange

As part of its new strategy to become the most widely used cryptocurrency exchange, Globitex is lowering and removing fees for certain account features. Globitex aims to make it’s products more accessible for retail and corporate customers. The EURO Wallet continues to excel as the best solution for sending and receiving EUR payments from inside of an exchange. The EURO Wallet is powered by Nexpay UAB, an EU licensed financial institution and gives users full control of their assets.

“We implement changes quickly around feedback we gather from both retail and corporate customers. We never compromise on security, we abide by every regulation to ensure customers get the most of what is possible with cryptocurrencies today.” - Uldis Teraudkalns CEO of Globitex Exchange.

Private Individuals will enjoy the removal of the monthly account maintenance fee, this allows Globitex clients to open and maintain a EURO Wallet account without cost or liability until it is actually used for transactions.

Corporate customers will enjoy the reduced net cost on larger transactions, making the service more attractive for the largest corporate clients and traders. The combination of the service offering and pricing makes Globitex the No.1 cross crypto-fiat trading and financial operations platform. Globitex aims to add the functionality of using GBX tokens to pay for EURO Wallet fees with discounts, which will substantially increase the utility of the GBX token in the upcoming weeks.

Globitex encourages all traders, investors, and corporates potentially seeking to make payments from within and outside of the crypto space to use the exchange, confident it will be their permanent solution of choice. Users seeking to bridge the traditional finance sector with their cryptocurrency assets are urged to visit Globitex to Utilize their own IBAN account within a cryptocurrency exchange.

For more information or inquiries, please contact Globitex Support (support@globitex.com).

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Press Releases

Tech Giants Opt for Ethereum: Why ETH is Still Behind BTC

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There’s been huge news for Ethereum recently. Some of the world’s biggest tech companies and most famous technology entrepreneurs have shown their support for the blockchain platform. This is in addition to the many large companies that have already been supporting Ethereum for years. But, despite all this, Ether (ETH) is still lagging behind Bitcoin (BTC) in all the ways that matter: price, transaction volume, and market capitalization. Why is Ethereum still struggling to keep pace with Bitcoin so many years down the track? Let’s take a look at how Ethereum has been adopted in recent months, and how this is affecting the price of ETH.

Amazon Shows Support For Ethereum With a New Managed Blockchain Service

Amazon has recently made shockwaves across the blockchain industry, when they announced their managed blockchain services in an exciting press release. They say the service will allow users to set up and manage their own decentralized blockchain network with just a few clicks. This is a huge claim considering the difficulty of achieving that task from scratch. The really good news for Ethereum is that the new service will soon have support for the Ethereum network due to some of its unique properties. On their website, they declare that “Ethereum is well suited for highly distributed blockchain networks where transparency of data for all members is important”. This is a huge deal for Ethereum.  

Elon Musk Declares His Faith In Ethereum with One Word

Elon Musk has caused another stir on Twitter, this time in the blockchain world. He did it with a one-word tweet, “Ethereum”. The tweet has gained almost 10,000 retweets since then. That’s a big endorsement coming from one of the greatest tech visionaries of our time. Especially, as it comes when Ethereum has been struggling.  

Many Other Companies Are Onboard With Ethereum Too

These are just the most recent additions to the list of big names declaring their support for the Ethereum vision. The Ethereum Enterprise Alliance is a group of big businesses committed to exploring and developing the decentralized technology that Ethereum is built on. The members include some massive names, such as Intel, Microsoft, JP Morgan, Accenture, and Deloitte. JP Morgan has even used the Ethereum technology to build its own blockchain networks for moving some of its enormous sums of money quickly around the globe.  

So Why Isn’t Ethereum Number 1 Yet?

All this should be enough to propel Ethereum into the stratosphere of development and adoption. But a quick look at the price and market cap numbers shows that Ethereum is even further behind Bitcoin than it was a few years ago. Ethereum has dropped massively since its peak price of over $1,000 and has never recovered to anywhere near those levels. So what’s going on?  

The Same Old Scalability Problems

Ethereum has had one serious challenge for the last few years: scalability. Ethereum has never really managed to breach its transaction ceiling of around 26 transactions per second. That level is just not going to cut it out for a major global transaction network. Bitcoin has the same problem, but it has some exciting solutions already being used and tested. The Bitcoin Lightning Network is a “layer 2” solution that is used to scale Bitcoin transactions on top of the core Bitcoin network. Ethereum does have some potential solutions of its own. Ethereum Plasma promises to add a layer 2 solution to the Ethereum network to allow for much higher transaction volumes. However, right now, these projects are still far off proving they can take Ethereum to a global scale.  

The Growing Threat of Competitor Networks

Perhaps the biggest reason why Ethereum hasn’t soared to the top spot on the crypto charts is the growing number of serious competitors to Ethereum. Until recently, Ethereum has been the only real choice for developers in need of a global decentralized network to build their applications on. The same with ICO platforms, too. This gave Ethereum the first mover advantage and helped it grow tremendously in its early stages. These days, however, Ethereum has plenty of plausible competitors. Using the Ethereum network isn’t a necessity for developers, it’s a choice. For example, while Amazon plans to support Ethereum for their managed blockchain solutions, it already supports Hyperledger Fabric. The growth of alternative networks and protocols such as EOS, Stellar, Cardano, Tron, Neo, and many more are hurting Ethereum. What’s more, many of these networks already offer much better performance than Ethereum in certain areas. For example, EOS is a protocol designed to build decentralized applications similar to Ethereum’s. But, with a completely different take on its consensus algorithm, it allows for a much higher transaction volume and speed than Ethereum. These competitor networks are now highlighting the weaknesses of Ethereum. They are putting pressure on the Ethereum development team and adding more uncertainty to the future of the Ethereum network.  

Bitcoin is Seen Differently

Bitcoin is facing many of the same technological problems, and even more competitors for its limited use cases. However, Bitcoin has kept growing because it is seen in a different way by buyers. These days, Bitcoin is seen more as ‘digital gold’, than the future central financial platform. Bitcoin buyers know that faster and better competitor networks may arise, but Bitcoin is still the original cryptocurrency. This is why Bitcoin buyers are happy to invest heavily in the cryptocurrency, even as real-world use cases and adoption remain fairly stagnant.  

Ethereum Needs to Really Compete

Ethereum doesn’t have the same advantages as Bitcoin. If it wants to cement its place as the number one decentralized network in the world, it needs to earn it. It needs to prove its value by developing technology that works in the real world, and applications that get used. Ethereum has got the support of tech giants like Amazon and influencers like Elon Musk. But, if ETH is ever to overtake BTC, it needs to use that support and take it to the next level as soon as possible.
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