They published a paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System” in 2008. The idea describes a digital currency that can be sent anonymously, a monetary system that is not controlled by a state authority – as is often the case today – but by an extensive public network.

Bitcoin was born, a cryptocurrency that makes it possible to send digital money directly from person to person – without central authorities such as banks intervening. Today, Bitcoin is more of an investment than a means of payment, mainly because of the high prices, but it is still probably the best-known application of blockchain technology.

More Than a Cryptocurrency

There are now many other cryptocurrencies in addition to Bitcoin: Ethereum, Cardano, Solana – to name a few – and many ideas for blockchain applications that have nothing to do with money transfer. In principle, any information can be stored and managed on a blockchain, for example, proof of ownership of art, music or houses, freight books, proof of certificates, and even identities.

While such information is traditionally stored centrally in an actor’s database – for example, at a bank, a notary, a supermarket, or an authority – all information is stored decentrally on a blockchain. The information is therefore distributed across many, sometimes thousands of computers that form the blockchain network.

Put, the blockchain is a tool with which data can be stored and managed – comparable to an accountant who keeps a register and writes new entries in his table every day: This creates a list of data that keeps getting longer. Chain), and which are stored together in blocks, the blockchain. Because every computer on the blockchain network has an exact copy of all stored data, many computers collectively take on the accountant role, if you will.

The Benefits of The Blockchain

In a classic database, entries can be changed later due to technical errors and by individuals deliberately. That doesn’t work with a blockchain – precisely because it has a decentralized structure. So if the information stored on a computer is subsequently changed or even deleted, this is immediately noticeable – since there are still many identical copies of the blockchain on the other computers in the network.

This means that what has once been written into the blockchain can no longer be overwritten or deleted, making the technology counterfeit-proof.

Each new piece of information to be stored on the blockchain, i.e. each new block, is also encrypted. For this purpose, a hash value is generated – a unique mathematical key, a kind of fingerprint of the data block – which links the individual blocks together. This means that all actions stored on a blockchain – every certificate, every title deed, every transaction – can be traced back precisely.

By storing data in encrypted form on many computers, the blockchain technically creates trust, for which we have previously needed actors who act as intermediaries: banks that guarantee that a banknote is genuine; polling stations that ensure that only those who are eligible to vote end up in the ballot box; Notaries who certify that we are the owners of a house. According to various forecasts, the blockchain could (theoretically) replace central players such as banks, authorities or notaries.

The idea for some blockchain applications goes so far that it is not people who write new data on the blockchain but machines. Let’s assume that a product can only be manufactured at a specific temperature, which is essential for quality. The machine can measure this using a temperature sensor, automatically write the value to the blockchain, and, if necessary, transmit it to a machine that will carry out the following process step – provided that the temperature is in the appropriate range. This way, automatic quality control occurs, and the production process is documented in a forgery-proof manner via the machines involved. Since there are now many processes in which machines (semi)automatically control production,

In the end, using blockchain applications could always make sense when many players are involved and need a trustworthy system. In supply chains of goods, for example, which often involve many parties and subcontractors who often do not know each other. Blockchain technology is also used in the federal government’s “Digital Identities” project. Here companies are working on a kind of digital wallet that can be stored on the cell phone and contains all the evidence that we have in the average wallet today, from driver’s licenses to ID cards. In this way, we should be able to identify ourselves more efficiently – and forgery-proof.

The Limits of The Blockchain

What was once written in the blockchain is forgery-proof – but the blockchain does not guarantee that information is accurate. Theoretically, incorrect data can also be stored in a blockchain. For example, a bad grade can be transferred to a digital certificate – and the blockchain would still guarantee the certificate’s authenticity.

In addition, some blockchain applications, such as Bitcoin, consume vast amounts of energy. According to estimates by Cambridge University, it currently uses about as much energy as the Netherlands consumes in a year to operate the Bitcoin network alone. The reason is that all computers in the network must solve a complicated calculation before a computer can finally write a new transaction on the blockchain. This proof-of-work mechanism – a special algorithm that regulates write permission – ensures that Bitcoin transactions on the blockchain require a lot of electricity and thus – depending on how the electricity is generated – also causes CO2. But some mechanisms secure a blockchain differently and consume much less energy (e.g. proof-of-stake or proof-of-authority).

Many applications currently being developed for the blockchain work according to these less power-intensive mechanisms. Another difference: they are often based on a private or restricted blockchain, a “trusted consortium” – as it is often called. Unlike Bitcoin, for example, not every computer can participate in the network. Although there is no central actor in a consortium who controls everything, the data is also distributed on different servers here – but they may belong to companies, administrations, or the state. As some players are announcing, many new blockchain applications do not offer a complete farewell to intermediaries.

How To Proceed With Blockchain

A lot has happened since bitcoin was born in 2008, not just in the area of ​​cryptocurrencies. Many start-ups and companies are currently working on blockchain applications, and the number of projects is increasing yearly. However, many blockchain projects are still in their infancy. They are far from being used in everyday life – some ideas only exist on paper so far.

While some sing the praises of the blockchain and attribute the same importance to the technology as artificial intelligence, others do not believe that the blockchain will replace all the central players in our society – such as banks, notaries or land registries. Somewhat, blockchain as technology could change many vital processes that require certificates of authenticity and run in the background – invisible to most.

Also Read: Blockchain Importance Is Growing Every Day & Its Benefits For Companies And Countries

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The Opportunity For Trade! Blockchain Opens New Opportunities To The Market

The economic cycle lives on the supply and demand of a respective market. Blockchain technology is particularly suitable for fast-moving markets that have to react quickly and, above all, in good time to changes. The required information is made available to the authorized market participants in the network in a transparent, complete and public manner.

Authorized participants of a blockchain network can see the details about the changes in accounts, transactions of payments, orders and the production of values ​​that are tracked and recorded by a blockchain network. Blockchain technology creates market transparency, trust and opens up new opportunities on the economic market.

History – Blockchain As a Trading Solution on The Internet

Transactions on the Internet are currently carried out on the basis of trust in intermediary authorities or an intermediary person. For example, buyers and providers must trust a payment service, marketplace or bank. The prerequisite here is the certainty that the desired transaction is carried out correctly and properly. However, these mediating positions can attain a position of power due to their central position, exploit this and thus represent their own interests by trying to control desired transactions. This happened in 2010, among other things, when the payment service PayPal blocked the account of the WikiLeaks disclosure platform.

With the development of unwanted third-party influence, the solution of blockchain was developed to make the internet more democratic. One could count the basics of cryptographically secured concatenation of individual blocks among the beginnings towards blockchain as described by Stuart Haber and W. Scott Stornetta in 1991, 1996 by Ross J. Anderson and 1998 by Bruce Schneier and John Kelsey.

In 1997, the computer scientist and former law professor Nick Szabo proposed a concrete solution to the topic “Mechanism for a decentralized digital currency”, which he himself called “Bit Gold”. In Szabo’s view, business contracts are based on mutual trust between business partners and on the recognized legal framework, which can be interpreted according to different opinions and can therefore lead to problems. Therefore, according to Szabo, contracts of the future should be software-based and so he developed the first “smart contracts”, an algorithm that automatically checks the legal framework for a purchase or sale to determine whether a rule has been violated and informs both parties accordingly about how to proceed .

A general theory on cryptographically secured concatenations was developed by Stefan Konst in 2000. The roughly developed blockchain concept as a distributed database management system was first described in 2008 under the pseudonym “Satoshi Nakamoto” in the White Paper on Bitcoin. Nakamoto combined established technologies such as peer-2-peer, hashing and encryption and presented a cryptographic method that makes it possible to link data sets irreversibly and in a tamper-proof manner. 

What Is a Blockchain?

As the name suggests, a blockchain is a continuously expandable sequence of data blocks that records transactions in a chronological order in a decentralized data structure (network) in a traceable and unchangeable manner.

This foundation is a shared, unchangeable and therefore tamper-proof database that records all transactions and ensures the tracking of assets (assets) in the network. These assets, or assets named in a blockchain, can be tangible (money, a house, car, or land) or intangible (intellectual property, patents, copyrights, or a trademark). These can be traded practically and traceable in a blockchain network, usually digital currency equivalents such as Bitcoin, Ether, Litecoin or Dash.

How Each “Block” Works In a Blockchain

As already explained in the section above, the transactions of the data are stored in the “block”. The stored “block” includes information about the movement of a tangible or intangible asset of information, who, what, when, where, how much and even the state of the asset – like the temperature of a food item can be recorded in a block on a blockchain.

New blocks in a blockchain are created by consensus and attached to the existing chain using cryptographic methods. Each block contains a cryptographically secure hash value (scatter value) of the previous block with the corresponding data.

Hash Value?

“A hash value is a checksum with a fixed length. Hash values ​​are tools that can be thought of as keys that encrypt and decrypt data and messages. The recipient and sender must speak the same language (= deliver the same hash value) so that smooth communication or encryption and decryption is guaranteed.”

Each individual block is linked to the priority block and forms a data chain to prevent possible alteration or manipulation of the information. The information stored in the blocks confirms the exact timing and order of the transactions. Thus, transactions are blocked in an irreversible chain, hence the name.

Each additional block reinforces the verification of the previous block and thus the entire blockchain network. This means that any manipulation of the blockchain is visible, since each block contains the information of the previous one. This immutability is the greatest strength. This eliminates the possibility of tampering by a malicious actor and creates a ledger that you and other network members can trust.

A Closer Look at Key Elements of The Blockchain

The key components of the blockchain technology can be called the distributed ledger technology, the immutable and tamper-proof data set and the smart contracts.

• The distributed ledger technology used in a blockchain is a decentralized ledger technology, or DLT, and you can think of it in terms of how a journal of accounts works. Therefore, the blockchain is also referred to as the “Internet of Values” (Internet of Values), since it only lists transactions and values, so to speak. Blockchain defines the technical basis for cryptocurrencies such as Bitcoin, Ethereum and Co. With the shared ledger, transactions are recorded only once, eliminating the duplication of effort typical of traditional business networks.
• The unique selling point of the blockchain is the immutable data records : no participant in the blockchain network can change, falsify or correct a transaction after it has been recorded in the common register. In this case, if a transaction record contains an error, a new transaction must be added to correct the error. Both transactions can be viewed by the blockchain participants and are therefore traceable.
• In the blockchain there is a set of rules (algorithms) called “smart contracts”. This algorithm includes and sets conditions for the transfer of corporate bonds, conditions for payment of travel insurance and much more. As a result, transactions are accelerated and the corresponding action is carried out automatically.

Also Read: Blockchain Importance Is Growing Every Day & Its Benefits For Companies And Countries

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The Exodus 1 by HTC is a feature phone that’s built to work seamlessly with blockchain. Its hardware specifications are similar to those of a typical feature phone, except that it has a built-in software wallet called Zion that enables the secure storage of various cryptocurrencies.

The Finney by Sirin Labs is a more advanced phone that’s built on top of hardware that’s designed to be crypto-centric. It features a retractable display that’s used to store the native crypto-wallet. Aside from its hardware wallet, the Finney also comes with a decentralized apps browser and a token conversion center. It’s powered by Sirin OS, an Android-based operating system that’s designed to handle cryptos.

In addition, Sirin Labs signed Leo Messi as its brand ambassador. This led to the opening of a flagship store in London. The launch of these first crypto-centric smartphones by Sirin Labs and other companies is expected to have a huge impact on the cryptocurrency community.

A Small Niche?

Considering the high price of these phones, they’re competing against flagship models from major brands. For crypto enthusiasts, the choice between the Finney and a high-end model from a major brand is not an easy one. Hardware wallets, which are small devices that are designed to store and manage crypto-currencies, are already in widespread use. Some of these include Trezor, KeepKey and Ledger.

These devices are ideal for people who are looking for an affordable way to store their digital assets. They offer the added benefit of being offline most of the time. Feature phones that are built with blockchain technology can also be very convenient for cryptos enthusiasts. They can store their digital assets on their phones without the need for additional devices.

Smartphones and Blockchain Are a No-Brainer

Due to the increasing popularity of blockchain technology, it’s widely expected that most feature phones will eventually come equipped with hardware wallets and other blockchain-related features. Aside from phones, blockchains are also expected to address the mobile data needs of users. Many developers believe that their solutions will allow users to share their bandwidth without intermediaries.

Last December, Opera, the world’s fifth most-used browser, added a built-in crypto wallet and the ability to access and store decentralized apps. Aside from smartphones, blockchains are expected to address the mobile data needs of users. Developers are working on projects that will allow users to share their data across various peer-to-peer networks.

One of the first mobile operators to implement blockchain technology is World Mobile, which is a startup that aims to provide decentralized mobile services. The company’s platform is built on a blockchain and features a network of towers and nodes.

In December, World Mobile partnered with Phore, a crypto-currency that’s focused on privacy and anonymity. Through the partnership, World Mobile users will be able to purchase a customized SIM card that’s linked to the company’s network using Phore’s decentralized marketplace.

The company also unveiled a new feature phone that’s designed to be a hardware wallet. Dubbed Thunder, the device will allow users to store and manage their digital assets. Although feature phones are expected to eventually come equipped with blockchain-related features, it’s not yet clear if they’ll be built with dedicated hardware wallets.

Also Read: Android To iOS: This Is How You Transfer Your Data

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But for a lot of people all over the world, Bitcoin is nothing more than just a digital currency for crypto trading and investment. In reality, the blockchain behind Bitcoin can do so much more – it can solve crucial problems with data management for large organizations, governments, and businesses.

So, what is enterprise blockchain?

Enterprise blockchain is a public network that serves as a single, universal database accessible to organizations from anywhere in the world. This technology will successfully address current digitization challenges to allow governments and businesses to scale and enhance processes and operations. Enterprise blockchain also sets the stage for the integration of a data economy, the benefits of which include data storage security, data sharing, data integrity, and data incentivizing.

The infographic below details the benefits of enterprise blockchain as well as its various use cases and applications.

Also Read: Blockchain Importance Is Growing Every Day & Its Benefits For Companies And Countries

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Advocates of cash primarily argue that they are protected from tracking financial transactions and do not have to fear negative interest rates. Digital payment alone, for example, using a smartphone, does not create any other currency.

It is different from the so-called cryptocurrencies. Financial transactions can be encrypted between two people using blockchain technology (“peer-to-peer”). This form of monetary transaction is purely private, which is why central banks, for example, see it as a threat to state-legitimized currencies.

Beyond the technical details, the question arises whether cryptocurrencies are currencies? The answer to the question is no because they do not fulfill the functions of money and therefore do not correspond to its definition.

Cryptocurrencies Are Currently Lacking Institutionalized Trust.

Cryptocurrencies are not yet a common means of payment today; due to their high volatility, they are neither a store of value nor a standard unit of account. In addition, they have no monetary order. Nobody can be obliged to accept cryptocurrencies. So they lack the essential basis of a stable currency: institutionalized trust.

In recent months, Bitcoin and other cryptocurrencies have increased significantly in value and are increasingly in demand for asset diversification.

As a result, they function more as “crypto-assets.” Nevertheless, from a technological and monetary policy perspective, digital currencies are relevant for central banks. Therefore, they are increasingly concerned with the possibilities of digital significant bank money, the Central Bank Digital Currencies (CBDCs).

Digital Currencies Are Still Developing.

Digital currencies are currently still in the early stages. Nevertheless, it is to be expected that they will mature technologically and play an increasingly important role economically in the future.

Even if the so-called cryptocurrencies will probably not establish themselves as a holistic alternative to the existing currencies, “money” will continue to privatize. In addition, banks will change dramatically as a result of digitization. “Banking without banks” has long ceased to be an abstract vision of the future.

Currencies, on the other hand, are likely to remain in the hands of central banks. To this end, they will rapidly develop digital central bank money over the next few years. On the other hand, crypto assets have a good chance of becoming a new asset class if they are accepted as a means of storing value.

In ​​industrial applications, for example, in Industry 4.0, blockchain technology and tokens will play an essential role in the future. And what about the cash? It will probably stay a while longer but push more and more to the side.

Also Read:

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Asset Category

Stocks, like cash and receivables, are considered financial assets. The middle ground between real and intangible assets, financial assets are liquid assets that have a stated and documented value. The documentation can come in the form of a piece of paper or computer file, and it can be a claim of ownership of an entity or a contract declaring one’s right to payment. In particular, stocks have no expiration date, so they can be held indefinitely or sold to others.

Cryptocurrencies, on the other hand, are often classified under intangible assets or assets that lack physical substance, though some people also insist that these are likely security, which is a financial instrument. The truth of the matter is that the technology behind cryptocurrency is still changing and far ahead of the standards that financial institutions currently use, so it exists in a gray area.

The values of intangible assets are recorded at acquisition cost or the price that the owner paid to own them. You need to use a digital wallet if you’re planning to dabble in cryptocurrencies. If you’re investing in Monero (XMR), you have to use the best Monero wallet—XMRWallet.com is a good option—to store the units you’ve acquired. The way these assets are categorized can have a big impact on your portfolio, as this will determine the level of risk you assume and the financial responsibilities you need to fulfill with every acquisition.

Ownership and Possession

Stocks are issued by specific groups, and compared to cryptocurrencies, owning this type of asset is a more stringent process. Stocks are created as a means to raise funds for a company, and they are expected to turn a profit. Before they’re made public, stock offerings must first be cleared by government agencies and undergo auditing. After that, they can be traded on investment applications, and retail investors can buy shares sold by the companies they favor. If you want to cash out, you have the option of selling your shares at a good price to another investor.

Cryptocurrencies are founded on the idea of decentralized finance, so the process of acquiring digital coins isn’t as restrictive. As long as you have capital and the digital instruments needed to trade and store digital coins, you can acquire tokens from your preferred currency and trade them as well. If you want to cash out your crypto investment, it’s likely that you have to make multiple trades to do so, especially if you’re aiming to exchange them for fiat money.

Level of Volatility and Assumed Risks

In general, stocks are a much safer investment than cryptocurrencies. This type of asset is backed by public and private institutions, and there are laws and regulatory bodies that are aimed to protect the rights of the investors in case something goes awry during the process. Also, this asset type has a significant impact on the economy. As such, it’s unlikely to see high levels of volatility on stock prices unless there are significant events that are influencing the business itself or the general economic activity.

In contrast, cryptocurrency investors have to deal with high levels of volatility and numerous risks, and this can be a bane or a boon for investors. Early adopters of crypto tokens like Bitcoin, for example, have seen their capital grow multiple times in the past decade. From just about USD 1 per unit in 2011, a single Bitcoin now costs around USD 57,000. Monero also used to be available at USD 13 in 2017, but these days, the coin’s price ranges between USD 110 to USD 500.

Those who have put their money into these currencies when they were still at rock-bottom prices and held on to their investments were able to increase their profits significantly. However, it’s worth noting that there are tens of thousands of cryptocurrencies in the market today, and it’s highly likely that some of these currencies will not thrive. As such, investors who put their money on digital currencies should be careful when choosing the coins they want to invest in.

What are your financial plans, goals, and strategies? If you want to play it safe and enjoy the protection offered by laws and establishments, then putting your money on stocks seems like a good fit. If you’re willing to take on more risks for the chance of getting better rewards, then crypto should make a good addition to your portfolio.

The post What’s the Difference Between Cryptocurrencies and Stocks? appeared first on TechReviewsCorner.

Cryptocurrencies are very promising and have attracted a lot of interest since their introduction to the world of finance. Accordingly, Bitcoin (BTC), a major digital currency in the market, has a total value of about $590 billion today.

It’s also smart to look into other cryptocurrencies when investing as a way of diversifying. If you don’t want to stray far from the most recognized name, Bitcoin SV (BSV) is your best bet, as it plans to keep the digital currency stable and scale massively. These are just some of the original protocols set forth by the creator of Bitcoin, “Satoshi Nakamoto,” in his whitepaper that Bitcoin SV continues to follow.

If you are interested in investing in cryptocurrencies, there are many essential factors that you must consider other than the price of the virtual coin you are eyeing. This is because the world of crypto trading is incredibly volatile, and you have to act strategically if you want to mitigate risks and protect your digital assets.

Below, we’ll explore several mistakes that beginners in crypto trading often commit, as well as helpful tips on how to avoid making them

Not doing enough research

As previously mentioned, a virtual coin’s current price is not the only metric to consider. It’s vital to conduct substantial research and weigh in different factors before building your investment portfolio.

Accordingly, when selecting cryptos, one good factor to consider is the block size, which refers to the maximum limit of transactions a block in the chain can be filled with. A block that exceeds the block size limit will be rejected by the network.

BTC has a block size limit of 32 MB. While that does sound hefty, Bitcoin SV is more considerable at 128 MB. A large block size limit means that the system can perform with high bandwidth and fast transaction speed, while those with a small limit may experience longer waiting times for transactions. A large block size also means that more transactions can be accommodated, which helps the BSV network scale. Get more information at free crypto signals

You can also look at the market capitalization or market cap. This metric provides you with an idea of the risks you’ll face when investing in a particular coin. It also gives you a glimpse of its potential growth.

There are still many indicators to consider and reliable tools to utilize. You may consult other traders or a financial expert if you have the resources. Signing up for newsletters of trading experts may be beneficial, as well, as long as you keep in mind that any advice should not be regarded as a guarantee or absolute truth. Remember, you are always investing at your own risk.

Keeping virtual coins in online wallets

Many novices tend to keep their first virtual currencies in the exchanger’s website after purchasing. This is a very dangerous move simply because the internet is not a safe place, and digital assets are very susceptible to cyber theft and other fraudulent activities.

To manage your assets effectively, you must have substantial control and ownership of them. A trader may own a digital asset stored in an online wallet, but they do not have complete control over it.

Moreover, as said previously, online wallets are common targets of cybercriminals. In fact, there have been numerous high-profile hacks that resulted in millions of dollars in crypto being stolen from exchange platforms. One of the best ways to keep your digital assets safe, then, is to keep them in a secure offline or hardware wallet immediately after each purchase.

Not diversifying

Cryptocurrencies belong to a range of classes of market capitalization with their own sets of pros and cons. To add, virtual coins of different categories are not likely to grow at the same time. For instance, your mid-cap cryptos may appreciate just when your large-cap cryptos are depreciating.

Hence, a great way to maximize your investments’ potential is by building a diversified portfolio that strategically combines cryptos of different classes. Moreover, owning cryptos of different brands can also help you reduce risks and achieve balance. However, you must remember that while diversifying can help lower risks, they cannot be eliminated completely.

Diversifying your investment portfolio is indeed one of the best risk mitigation measures. However, why not take things a step further by also trying out different ways to acquire crypto? Instead of getting all your virtual coins through buying, you can explore other processes like airdropping and mining. Bitcoin mining allows you to earn assets without putting down cash for them.

Selling and buying at peak prices

It’s typical for beginners to sell their cryptos hastily at the first sign of growth. However, it can be tricky to determine if an asset’s price is really at its peak. There’s a chance that the value will continue growing, and selling prematurely can be very demoralizing. However, you can beat the market by selling your assets in stages instead of all at once.

Another common mistake is buying when a coin’s value surges. Many think that the growth will continue, but temporary spikes are widespread in cryptocurrency. The amount can start dipping again, and by the time you sell them, you may end up making a massive loss. Therefore, it’s best to avoid buying during an asset’s successful run.

Not having a strategy

It’s impractical to build a house without a blueprint. The same can be said of investing in cryptocurrencies without a plan. It’s essential to determine your goals and outline your target. Moreover, you should make exit plans for all of your trades to avoid losing profits.

Having a timeframe when you want to get returns on your investments is another smart move. You can begin by making long- and short-term plans, or if it’s more suitable, establish yourself in daily cycles.

The Takeaway

As the adage goes, “Rome wasn’t built in a day.” This also applies to investment ventures. It’s impossible to master the art of crypto trading overnight. Additionally, even after you become more experienced, it’s inevitable to make mistakes every once in a while.

Much like traditional investment assets, investing in cryptocurrency can be a waiting game. With the volatility that comes with it, it will be smart to put your money into digital assets with a long-term plan in mind. For instance, BSV aims to build a blockchain with better scaling for enterprise and eventual mass adoption to bring efficiency into each transaction.

Removing all likelihood of losses is not the goal. As long as you strategize well, build a diversified portfolio, and remain well-informed on the subject of cryptocurrencies, you will still be able to effectively protect and grow your digital assets.

The post 5 Common Mistakes Crypto Beginners Make appeared first on TechReviewsCorner.

This review focuses on the company’s primary offering: exchanging and purchasing gold-backed cryptocurrencies.

Easy signup process

The process to sign up for the exchange is easy and completely anonymous. This feature is often seen as desirable among cryptocurrency traders since more and more platforms are making Know Your Customer (KYC) a requirement. KYC guidelines require that the exchange verify the identity of the person, which may include information such as an address, birthday or other supporting legal documents. On large exchanges, verifying documents can be a lengthy process that requires days, if not weeks, to verify.  This can prove frustrating for those looking to trade immediately. While there are pros and cons to whether KYC is advantageous and worth the time, traders who are looking for anonymity can look to GoldExchange as a potential option.

Trading on GoldExchange is also relatively easy, even for beginning users. This is indicated by the simple layout of the website.

Debit and credit card payment options

A major advantage of the platform GoldExchange is that stablecoins can be easily purchased with a debit or credit card. This makes purchasing the token as simple as making a purchase over the Internet. Many large cryptocurrency exchanges, such as Coinbase, don’t accept credit cards or may require that a user purchase another cryptocurrency which can later be exchanged for a gold-backed stablecoin. This isn’t problematic if a user has existing cryptocurrency holdings but can be costly if a user needs to pay fees twice: once to trade for the cryptocurrency and once to get the currency they were actually hoping to purchase. In this case, GoldExchange does get some points for having an offering that allows beginner traders to go directly from fiat to crypto.

Security

The platform abides by a variety of security measures to safeguard its account holders. GoldExchange is also secured by cryptography, making counterfeit tokens and concerns around double-spending next to impossible. This platform provides a solid amount of security that is in alignment with industry standards in blockchain technology on other leading exchanges. The platform’s security is another reason GoldExchange is a superior offering for those looking to purchase stablecoins safely.

While the platform provides an easy entry into gold stablecoins, it is also important for investors to learn about the best practices around cryptocurrency security and storage, and to find suitable offline storage methods for managing large amounts of cryptocurrency.

Future orders

Another interesting feature GoldExchange offers are their futures orders, including Buy Stop and Buy Limits. Buy stops allow users to select a stop price that is higher than the current market price. This protects investors against large losses for cryptocurrencies that they have sold short. Similarly, buy limits allow users to select a price that is lower than the current price to control how much they are paying for their stablecoins.

Users are also able to preset their stop loss and take profit limits when they enter a trade. This eliminates a lot of the time that would be spent on monitoring asset prices.

Is GoldExchange right for you?

Gold Exchange is considered one of the only premier exchanges for gold-backed cryptocurrencies. Therefore, investors interested in Goldcoin as an investment will likely find this platform valuable for its security protocols and ability to purchase future orders.

The post GoldExchange.com – Dedicated platform to trade gold-backed cryptocurrency appeared first on TechReviewsCorner.

In the case of money, its evolution has been so massive that it took time to pave the way for the rise of digital currency. Prior to the age of cryptocurrencies, you have seen some precursors beforehand. These include credit cards and banking apps, which enable you to make purchases or transactions online without using physical money. 

Then again, the rise of digital currency gave users an alternative method of exchange, which is considered one of the most notable breakthroughs in the financial and investment industries.

Blockchain, the technology that powers digital currencies, makes decentralization possible such that no person or entity can control the system of exchange. With traditional or fiat currency, you would need to go through specific channels each time you make a transaction. This results in service charges, longer processing time, and potential approval issues. 

By using cryptocurrencies, you are not dependent on third-party intermediaries, so you get to save in fees, and you save time, as well.

Now that digital currencies are gaining worldwide attention, you can expect to see more innovations, products, and services within the industry. In fact, hundreds of virtual currencies now exist in the market compared to when it was just starting out a few years ago with only a handful of players. 

Trends also indicate that more and more functionalities will be introduced in various cryptocurrency exchanges, enabling users to maximize their digital assets. Of course, security will always remain a major area of concern, so better encryption technologies will most likely emerge, too.

Here’s an infographic that offers more insights about the next big thing for digital currencies. 

The post What Is Money And Its Evolution Over the Years? appeared first on TechReviewsCorner.

If you’ve decided to get started, but you don’t know how to buy bitcoin in India, you’ll be pleased to hear that the process is relatively simple. It takes three easy steps to set up and buy your first bitcoin, and our guide has it laid out for you.

Step 1: Open Your Bitcoin Wallet

You can’t just dive into buying some Bitcoin if you don’t have anywhere to put it. The same way you store your money in a bank account, you also need to keep your BTC in a Bitcoin wallet. There are three different types of wallets you can go for.

These include:

• Online wallet services.
• Software wallets.
• Offline vault services.

If you’re planning on storing your Bitcoin and not trading it, you can go for the offline vault services. 

On the other hand, investors who trade their BTC coins frequently or those who use Bitcoin for buying and selling products use the online, web-based services. The downside of this is the lack of anonymity and rigorous setup procedures.

Apart from using wallets, there’s one more way you can store your Bitcoin, and that is in cold storage. This allows you to keep your Bitcoin offline in USBs or paper wallets. The paper wallet is a document that contains all the data you need to create your private keys and access your BTC coins.

This is an ideal choice for anyone who doesn’t want to rely on online wallets, but cold storages are risky. If someone steals your USB cord or the paper wallet gets damaged, you can’t reassess your BTC.

The two most popular and secure online wallets include:

• Coinbase: This is free, accessible, and has an easy-to-navigate mobile app. If you use the Coinbase online Bitcoin wallet, it’s not advisable to buy and sell Bitcoin on the site, too, as this comes with different security risks. 
• Electrum: This is another famous and free Bitcoin wallet offering top security and well-known among investors. It is also software-based.
• Also Read: Importance To Control Fixed Costs In An SME

Step 2: Find a Platform and Buy Bitcoin

Once you have your BTC wallet, you have to look for a trusted platform to buy Bitcoin. It’s best to stick to one platform for a long time so that you are not affected by changes in exchange rates, fees, etc. 

When looking for the best platform to buy Bitcoin from, you have to consider a wide range of factors. These factors include:

• Top-notch security features.
• Favorable exchange rates.
• Easy to use website and process.
• Quick transaction and exchange speed.
• Diverse payment options.

After considering all these factors, we saw that one of the best platforms to purchase Bitcoin is Vertex Market. Other places include Coinbase, Bitfinex, and Bitstamp, but few websites allow you to buy via Bitcoin Paytm wallet and other fiat currencies.

Most platforms only allow you to exchange other cryptocurrencies with Bitcoin, but if this is your first time buying Bitcoin, you probably don’t own altcoins. Thus, it will be better and more convenient to purchase your Bitcoin with a standard currency like GBP and USD. 

Once you have chosen the platform you want to use to buy Bitcoin, you can create your account and follow the steps to purchase it.  Just remember that any profit or loss made in a cryptocurrency trade counts as capital gain or loss in your overall income. This means you must adhere to your country’s tax laws surrounding capital gains and losses. You can find an income tax calculator, as well as numerous other tools, online and typically for free too.

Besides buying Bitcoin with online platforms, you can also do so with cash, credit, or debit cards at some outlets. The best thing is to learn how to navigate through BTC online websites because most cryptocurrency activities are carried out on the internet.

Step 3: Transfer to Your Wallet

Now that you have a wallet and a reliable platform like Vertex Market to purchase Bitcoin, the final step is to put the two together.
Your BTC wallet comes with an address which is a long string of numbers and letters. This is equivalent to your account number for fiat currency. When buying or trading BTC, you will be asked to input your wallet address. When you do so, the amount of Bitcoin you purchased will be sent directly to the wallet address.
You will also need the wallet address when selling your BTC. Once you have the BTC coins in your wallet address, you have successfully purchased Bitcoin for the first time. Now, what do you do with it?

What You Can Do with Bitcoin

There are different things you can do with the Bitcoin that you purchase. 

• Trading:

The most common use of Bitcoin is trading, just like investing in other assets like stocks. Although trading BTC is risky, especially for beginners, it brings in massive profit once you get the hang of it. You can trade through exchanges or directly with other investors.

• Buying and Holding:

Another use of Bitcoin is buying and holding. Although Bitcoin prices are continually fluctuating, this can work to your advantage. Many crypto traders hold on to Bitcoin, and when they believe that the value will increase, they sell it for a profit. Others buy Bitcoin when the price goes down to receive profit once it goes up again.

• The medium of Exchange:

Finally, Bitcoin can be used to exchange for a wide range of goods and services online. PayPal, the popular e-wallet, is already including Bitcoin as one of its currencies, which means its ability as a medium of exchange will expand in 2021. It is also a popular payment method in online casinos, small and large businesses.

Conclusion

Now that you know how to purchase your BTC and what you can use it to do, you can take the first step into being a cryptocurrency owner. Whether you want to use it to make money or play at online casinos, always remember to make safety a priority when using BTC and other cryptocurrencies. So, always check the platforms you’re using and keep your wallet address and private keys safe.

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