Despite the drop in the value of most cryptocurrencies in recent times, cryptocurrency has nonetheless managed to weather the storm and remain relevant. As such, the cryptocurrency market can now be termed a viable market as traders know that they won’t lose their investments regardless of whatever happens as the digital currencies have shown that they can withstand anything. If you are one such person looking to start your cryptocurrency trading adventure, worry not as we have you covered. Below, we will share with you the essentials skills you need to know before you venture into crypto trading. Before we start though, remember you can earn your first cryptocurrencies when you play crypto games at casino.netbet.co.uk.
Pick wisely an exchange to trade on
Once you make a decision that you want to start crypto trading, the next step is to wisely choose the exchange platform that you want to trade on. There are literally hundreds of exchange platforms to choose from but not all of these do offer excellent services. They have been reports of exchange platforms that terminate operations without notice hence leading to loss of investment on the part of the trade. As such, choosing an exchange platform wisely is a sure way of guaranteeing and protecting one’s investment. As a general rule, it’s always advisable to go for the exchange platforms that have been in business for a long time such as KuCoin, Binance and CoinBase. With established exchange platforms, you rest assured that you won’t wake up one day only to realize that the exchange platform you stored your ‘money’ on is no longer in existence.
Choose wisely your cryptocurrency wallet
When you are about to start your cryptocurrency trading adventure, you will realize that there are two different types of cryptocurrency wallets. Some wallets are standalone wallets meaning that they allow you to ‘deposit’, keep and ‘withdraw’ digital money whenever you want. Standalone wallets as suggested by their title are not linked to any other service. However, there is also another wallet type which is an exchange linked wallet. An exchange linked wallet is a wallet that works with the exchange platform you trade on. As such, with this type of wallet, you will only be able to use your digital money at the exchange platform that is linked to the wallet. The former is great for traders who like to shop around for exchange platforms every now and then while the latter is great for traders who love sticking to one exchange platform.
Wisely choose your source of information
By now you probably know that cryptocurrencies are highly volatile. As such, trading in cryptocurrencies is very risky as prices can shoot up or down in large percentages. Therefore, in order to guard against massive loses, you need to have a reliable source of information that tracks and predicts potential major moves. There are a lot of websites that you can choose as your preferred source of information such as Hackernoon, The Merkle, News Bitcoin and Coindesk.
Bitcoin Trends That Are Coming In The Future
- Bitcoin will become an excellent solution for people who are unable to use fiat currencies or those who don’t have trust in central banks, and those who are living in countries with an unstable currency or deteriorating economy.
- Bitcoin will have the same features, similar to banking services. More Bitcoin ATMs will be available to accommodate easy and quick withdrawal process. Also, a Bitcoin card will be issued as an alternative to the regular debit cards.
- Because of Bitcoin’s growing acceptance in the financial community, Central banks, as well as the government, will start to yield to its revolution and adoption, which is moving toward a digital currency system.
- Bitcoin’s blockchain will continue to undergo innovations to make the cryptocurrency a widely-used asset in the world such as the strengthening of the data privacy methods to protect digital information.
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Globitex Exchange Leads Charge in Trading by Lowering and Removing Fees
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 to Utilize their own IBAN account within a cryptocurrency exchange.
For more information or inquiries, please contact Globitex Support (firstname.lastname@example.org).
Tech Giants Opt for Ethereum: Why ETH is Still Behind BTC
Amazon Shows Support For Ethereum With a New Managed Blockchain ServiceAmazon 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 WordElon 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 TooThese 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 ProblemsEthereum 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 NetworksPerhaps 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 DifferentlyBitcoin 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 CompeteEthereum 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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