Author: Jacques Marcheterre

Cryptocurrency is everywhere. These are basically digital assets in which people are using for various purposes like investment, making purchases over the web and so on. At times, there are some who were able to find merchants who would assess their house or go to get it done and ask Bitcoin to pay portion of the deal.

There are so many kinds of cryptocurrencies these days and among which is Bitcoin. There are also Ether, Litecoin, Bitcoin Cash as well as Ripple. As a matter of fact, majority of the big financial and tech companies are jumping in the bandwagon and like to get a slice of the market. Cryptocurrencies are being exchanged from one person to the other directly online.

What can be bought with Your Crypto?

At the time of this writing, most people see cryptocurrency as a form of investment. On the other hand, cryptocurrency spending may be more popular as more and more of these digital currencies are gaining traction and trust of the general public. There are several sellers online that are accepting cryptocurrency as another method of payment.

Say that you have saved enough for your emergency fund, free of debt and invested 15 percent of your income in stocks or mutual funds, then this gives you better purchasing and investing power to play around crypto. Basically, it lowers the risks on your end as you can invest a little of your money in cryptocurrencies and see how it would perform.

Just a Reminder

Though before you finally jump to investing your first crypto, be sure that you have a realistic mindset on what would come forth. Remember that while the rewards for investing cryptocurrencies are huge and fruitful, still remember the fact that the chance of losing your money is very real. It is recommended to talk this one with someone who have experience in crypto investing or perhaps, talk with your financial advisor.

It’s All Hype until You Lose it

It is definitely true that there is a big buzz in crypto market and countless people are getting into it. But not because many are doing it, you’d to. Investing in crypto isn’t a get-rich-scheme. Don’t make the same mistakes of what others did such as cashing out their 401K or take money from their mortgage. It is not the way to go. As said, talk with a professional or someone with firsthand experience to know what you are getting yourself into.

Bitcoin is a volatile asset. It is difficult to predict whether its value will go down or go up. One thing is for sure though, Bitcoin is readily available for buying and selling amongst everyone who is interested to make an investment. You may even use it for purchasing stuff or even as a form of payment to your personal debt collection service. There are so many uses for Bitcoin that you may feel overwhelmed as you start your research about it.

How Bitcoin is Acquired and Used?

If you are one of the many people who are interested with this cryptocurrency, from how it is used, sold and bought, then read on.

Virtual Wallet

Bitcoin is designed to be decentralized. You’re can buy and sell stuff on various digital platforms with Bitcoin without giving away your financial records and details to the merchant. Basically speaking, it does not work this way for a lot of people. Because for average person, they ought to use a Bitcoin wallet in order to buy and sell.

Bitcoin wallet on the other hand does not come with any sort of government guarantees since it is decentralized. Meaning to say, if the virtual wallet goes over or under your Bitcoins are stolen or lost, you would have little-to-no recourse. In other words, you’ll definitely not going to get your money back.

Buying Bitcoin Electronically

You may be surprised but buying just 1 Bitcoin would already cost you at around $39,841.69 at the time of this writing. Luckily, you don’t need to buy the Bitcoin as a whole. Just as with pennies, nickels, dimes or quarters in dollars, you could also buy and use fractions of Bitcoins.

Actually, the smallest fraction that can be sent or purchased is 100-millionth of a Bitcoin or otherwise referred to as Satoshi, named after its mysterious founder. You could even buy Bitcoin straight from your virtual wallet account.

Buy it Locally

This is something that a lot of people who are new to Bitcoin is not aware of. You can locally buy Bitcoin online such as in sites like localbitcoins.com. The site lets you to personally meet people in public places and then exchange your cash for some Bitcoins. It may seem to be a strange practice but it is not harder than other modes of transactions. However, just use caution whenever you are doing transactions as there are some scammers and fraudsters lurking around.

Are you checking out binance vs coinbase at Bitcoin Tester to figure out which one is the better cryptocurrency to choose? In the former, it is actually trades with BNB symbol. It’s supported by Ethereum blockchain coupled with ERC 20 standard and has a stricter limit of 200 million Binance token as its ceiling.

Understanding Binance Coin

Believe it or not, there’s a high expectation to Binance coin in fueling the operations of Binance exchange as well as its ecosystem. This is supporting several utilities on Binance environment that includes:

• Trading fees
• Listing fees
• Listing fees

In essence, all other fees that are under Binance exchange.

The first year of its launch provides 50 percent discount on trades via Binance coin and the percentage of discount is reduced by half every year. Meaning to say, on the following year of its opening, the discount is at 25 percent, on the year after that, it’s 12.5 percent, on fourth, its 6.25 percent – you get the idea.

Interested investors can take advantage of Binance coin as well to make investments in some ICOs that are listed under the Binance Launchpad program. New crypto will list on Binance exchange and the utilization of Binance will be offering a seamless marketplace for trading in wide variety of both new and established virtual tokens.

Why Binance is a Good Pick?

Apart from that, Binance platform offers a repurchase plan, under which it will be using 20 percent of its profits in buying back BNB tokens and also, destroy/burn them until a max of 50 percent or 100 million, Binance tokens are purchased back. This procedure will only leave 100 million tokens in circulation which helps in maintaining big value.

Giving Back to its Founders

Being consistent with the burning of coins along with increasing the buy percentage as per its scheduled plans is an indication that there’s great profitability at Binance’s exchange. The coin was introduced during the ICO or Initial Coin Offering back in July of 2017. It has offered 10 percent or an equivalent of 20 million Binance tokens to its angel investors, 40 percent or 80 million coins to founding team while the remaining 50 percent or 100 million is spread across the participants via the ICO process.

Nearly half of the funds raised throughout the ICO process were thought to be used for branding as well as marketing of Binance while approximately 1/3 were intended to build the platform and to perform upgrades to its ecosystem.

On the subject of trading, there are multiple steps that have to be performed in an effort to minimize exposure to price volatilities of the market. Having the ability to combine fundamental and technical analysis can go a long way in determining the true value of an asset or company, reducing risks as you carry on and lastly, securing better chances of success with a given investment. So if for example that you are eyeing on Atlanta rental property management companies to invest on, you can take advantage of this to make an intelligent decision.

Your Plan of Attack

While it sounds sweet to make good money for such, you will need to secure a plan. For this to happen, it is highly recommended to implement the following:

Be a Master of Your Emotions

Creating risk management plan is tantamount to eliminating unforeseeable outcomes. When such happens, it can lead to the reduction of losses.

With effective risk management plan, it must be parallel with your cryptocurrency trading journal too, work along with poor trading behavior while justifying fundamental expectations.

By means of reducing negative or harmful trading habits, it is probable to boost profits without making compromises. As much as possible, remain reasonable and stoic and remove your emotions from any psychological aspect of your trading patterns. Instead, rely mostly on facts like:

• Volume
• Price
• News and;
• Trend

This is what matters and do not divert your attention to anything.

Diversify Your Portfolio

Regardless of how promising or tempting a trade opportunity seems to be, it isn’t a great idea to put everything on it. In general, a spread of a certain asset and in fact, combination of various asset classes within your portfolio is enough measure to reduce exposure to bigger price movements within a certain market/industry.

Cryptocurrency market’s volatility is different from any other industry or market. Here, even what seem to be a perfect trade could collapse and lead to a major loss. Thus, it is best if you’d start investing in different coins. Five would be a good number to start.

Remember as well to make the most of stop-loss feature of an exchange and utilize it to your edge when you’re away from manual trading like at work or taking rest. Time and time again, new traders are failing to integrate good exit strategy and usually wind up with a twenty percent loss of their trade.

2009 was a monumental year in cryptocurrency because this was the time when Bitcoin has opened its doors to the public. Since then, blockchain or the technology where Bitcoin depends on has welcomed hundreds and even thousands of brand new cryptocurrency in the market. If this is true, then it is safe to say that Bitcoin has pioneered the crypto market. The only question remains is, why is it volatile?

Daniel Garnsey, an expert in crypto-trading explained the highs and lows of such. As per his statement, the cryptocurrency’s value regardless of its type will depend largely on market speculations. He mentioned as well that it’s relatively small in comparison to other established and known markets out there.

Market Speculations Dictates the Crypto’s Performance

By small market, what he actually means is that, there is a greater chance that lows and highs would create ripple effect because of the large sell or buy orders that is representing bigger portion of the market.

No matter if it is a negative or positive report in media, it is more than enough to move the price up or down. In relation to negative media, this is creating a situation to which fewer people would want to make a purchase while current owners will consider selling what they have in an effort to lessen losses.

Then there’s the term “regulation”. Basically, this is when the government tries to secure things both on financial and legal scale. Additionally, it has a part on why Bitcoin is volatile. Daniel stated that if there is speculation that a certain token will or will not be allowed for trading as per regulations, then expect that its price would be the next to be affected.

Trade Anytime, Any Day

When compared to conventional stock exchanges that are open for certain number of hours in a day, crypto market is actually open and in operation 24/7. This is not a big factor for its volatility though if placed side-by-side with stock exchange, if an event took place, it can change the market and price in real-time. Meaning to say, there’s more movement.

Is it worth it to take a loan using your cryptocurrency to pay for your cash advance in https://mycaraccidentcashadvance.com/? Despite the fact that many of the crypto miners and owners see this as a long-term investment, they plan of holding their assets until such time they can generate a handsome revenue out of it. So rather than selling, investors may make use of their cryptocurrencies as collateral against a loan backed by their crypto.

With this, it lets them keep ownership of their funds while also gaining access to the money they needed for the project they seek. Whether you believe it or not, cryptocurrency backed loans are actually among the most cost-efficient and effective way of managing your crypto assets, especially when you need easy access to USD. There are many different websites these days that are enabling their clients to make use of their loans towards various purposes which include but not limited to the following:

• Buying a House – conventional lenders won’t let you pay for house using crypto
• Diversified investments – you can now lower the risks of your portfolio by means of diversifying it
• Pay off travel expenses – with your crypto, you have now more options to pay for your vacation
• Pay mountain of debts – refinancing your debt from credit cards or even student loans are now possible
• Fund a business – you will be given with easy credit access that your business needs by using crypto

Applying for a Loan

Many clients who apply for such a loan online do this by entering their requested loan amount, type of crypto they like to stake and the AML/KYC info for verification purposes.

These websites are so secure that it don’t soft check or pull hard on the client’s credit. This way, there’s no reason for you to be worried about your credit score to be affected.

Reviewing Your Loan

One of the things that you have to take into account would be the interest rate. Depending on the service, the rate of loaned amount will vary and sometimes, other factors would be considered too such as location and credit history.

The next thing you’ll notice is going to be the offers. Again, this will depend on the loan amount requested by the applicant, location and credit records. Beyond this point, you’ll see your offer APR which is a basic way of showing the overall price throughout the duration of the loan.