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30 November, 2021

4 Reasons Why Online Casinos Are Way Better With Blockchain Technology

in Cryptocurrency

Blockchain technology could be a hot topic in countless industries and also the media. For those that are unaware of what blockchain is, it’s essentially a ledger system that maintains records of transactions through the utilization of “blocks” that are chained together supported cryptography.

The blockchain is decentralized, meaning it’s unfolded over innumerable nodes, and there’s nobody entity that controls the whole system. For the web gambling industry and business as a full, this, together with other properties of the technology, make blockchain a game-changer. The subsequent are 4 key ways in which blockchain will change the industry for the higher.

1. Improved Transparency

Blockchain technology is simply touted to be one of the foremost influential innovations of the twenty-first century. One of the explanations people believe this can be because of the transparency it offers. Each transaction that happens during a blockchain is immutable—it is forever recorded on the blockchain, and it can never be hidden.

For someone who is gambling on a web casino playing slot games (or 슬롯게임 in Hangul), once they deposit cryptocurrency, that deposit is forever stamped within the blockchain. Similarly, whenever a player earns money and transfers the worth to their chosen cryptocurrency, that transaction also will be within the blockchain permanently. As these benefits are clear to several players and casinos, several bitcoin casinos have already unfolded for play.

Players can make deposits with their crypto and transfer earnings back to their secure digital wallet on these bitcoin casinos—or other cryptocurrency casinos. Neither the player nor the casino can try and benefit from the financial ledger.

2. Heightened Security

The folks that gamble online know that online casinos are safe. However, they also know. Some websites could also be scams, and other sites may use your personal information in ways you don’t accept as true with. Similarly, a web casino might not be built with the best security measures to push back potential hackers. Thus, they might be subject to attacks from hackers looking to steal your personal and financial information.

For both online casino owners and their users, the addition of blockchain technology is good due to these security risks. Blockchain technology has inherent security measures. Every transaction on the blockchain is encrypted. And every transaction that happens on the blockchain must be validated by every node involved. Something online casinos and players want to avoid — this makes it extremely difficult for hackers to choose out transactions and manipulate them!

ALSO READ: Transition To A Cashless Economy, Cryptocurrencies

3. Greater User Anonymity

Most gamblers wish to be anonymous, especially within the case where an internet gambler is from a rustic where the practice is forbidden. While those players have workarounds to gamble online safely, they still should provide some kind of identification information additionally to either a checking account or MasterCard information. That requirement is not any longer when casinos utilize blockchain technology.

Online gamblers won’t have to undergo the method of making an account stuffed with their personal information. They don’t have to provide financial information, a physical address, or other sensitive data. Rather, with a username and their cryptocurrency wallet, and that’s it, online gamblers can create accounts. They’re going to need nothing else to create transfers to and from their wallet, gamble, and earn money.

4. Streamlined Experience

The user collecting that service wants the experience to be as easy as possible, whether online or in-person, with any service. This suggests no jumping through hoops like identification or slow processing of requests. Looking at which online casino you employ, you’ll experience some inconvenience. You’ll bear several verification steps, it should be difficult to urge your rewards sent to you, and your earnings may incur fees.

These inconveniences are non-existent with blockchain technology-based online casinos. As mentioned above, you won’t have to provide personal information, MasterCard details, or bank details to play online. Rather, you connect your cryptocurrency wallet, and you create your transfers to and from the casino therewith.

It’s verified virtually immediately when you make a transaction on the blockchain. This means you’ll have your funds available to be used instantly thereby improving your online casino experience. Similarly, after you want to withdraw your earnings, they may be wiped out in the blink of a watch by transferring on to your wallet.

The Bottom Line

There’s been a gentle increase in attention placed on blockchain and cryptocurrency. This can be the permanent reason, of course. The technology has already shown its ability to remodel industries like becoming the backbone for digital currencies, smart contracts, and more. As there has already been most progress in blockchain’s utility, it’s no surprise that the net gambling industry will be plagued by the technology. Luckily, for both gamblers and online casino owners, these effects are positive as seen by the four major effects above.

25 October, 2021

We May Soon Find Out Who Invented Bitcoin Due To A Multi-Billion Dollar Case.

by Iveta Pařízková

in Cryptocurrency

Journalists, crypto fans, and online detectives have been trying to expose the person behind the name Satoshi Nakamoto for about a decade. But the creator of Bitcoin, in possession of almost a million bitcoins – worth almost ten billion dollars – has managed to keep his identity a secret for years. That may not be long now: A massive lawsuit against the man who publicly claims to be Satoshi Nakamoto may unravel the mystery.

Australian cryptographer Craig Wright revealed in 2016 that he was the creator of the world’s most valuable cryptocurrency, but this claim has been questioned by many. Legal experts say this case, brought by the relatives of one of Wright’s business associates, will finally reveal the truth about Nakamoto. Little has been heard of him since Wright announced that he would do nothing more to prove that he was actually Satoshi Nakamoto. Now he is being sued by the heirs of Dave Kleiman, who was a computer scientist and cybersecurity expert. Many people believe that not Wright, but Kleiman was the real creator of Bitcoin.

What is the case about?

The claim is that Wright stole 1,100,111 bitcoins from Kleiman, which together are worth $10,236,532,855. In addition, the heirs claim that Wright “illegally and knowingly” passed on their trade secrets about blockchain technologies “in a malicious manner.” Monday night, a tweeter asked Craig Wright what he thought of the case. He responded to the tweet with one word: “greed.” Prosecutors are joined by Boies Schiller Flexner LLP, who also represented Al Gore in the case, which called into question the results of the 2000 presidential election. According to Bitcoin security specialists WizSec, Wright’s claims, nor those of Kleiman’s heirs, are correct. The company writes in a blog post that neither of them is the rightful owner of the bitcoins. “The bitcoins they are talking about are just a fantasy: they don’t exist at all,” the blog post wrote. “The lawsuit is a trivial argument over unrelated money that does not belong to either party.”

Who was Dave Kleiman?

Kleiman was a helicopter technician but became paralyzed after a motorcycle accident, leaving him to spend the rest of his life in a wheelchair. By the way, if you have a motorbike accident or are totally unaware of what to do if you have a motorcycle accident, you can visit this link https://lacenturylaw.com/motorcycle-accidents/. He met Wright at an online cryptographer’s forum in 2003. According to prosecutors, the two collaborated on the white paper on how Bitcoin and blockchain should work, publishing it under the pseudonym Satoshi Nakamoto in 2008. Wright and Kleiman also set up a Florida company, W&K Info Defense Research LLC, in 2011, focusing on cybersecurity. The complainants are not sure whether one (or both) actually developed Bitcoin. The indictment continues, “for unclear reasons, they chose not to even tell their friends and family about what they were dealing with Bitcoin. But there is no denying that they were involved in Bitcoin from the start and that they both owned a huge number of Bitcoins between 2009 and 2013.” Ten months after Dave Kleiman’s death, his 94-year-old father, Louis Kleiman, receives an email from Wright, writing, “Your son Dave and I are two of the three most important people behind Bitcoin.”

Dave Kleiman passed away in April 2013, just before Bitcoin became a big hit, after a long battle with an antibiotic-resistant infection (the hospital bacteria MRSA). When he died, no one in his family knew about his part in Bitcoin’s development. They also did not know that he owned a huge amount of bitcoins. According to the indictment, Wright took advantage of the fact that none of Kleiman’s relatives knew about the situation. He drafted several contracts that ensured that the crypto legacy was transferred to Wright and his companies.

Gruesome scene

Kleiman’s death remains a mystery for the time being. “Dave was found dead in his home. It was a horrific scene,” the indictment said. “His body was decaying, there were blood and feces stains on his wheelchair, and there were open bottles of alcohol and a loaded pistol next to him. In his mattress, a gunshot hole was discovered.” Wright and Kleiman started a Bitcoin mining operation that earned them over a million Bitcoins. They kept these in Seychelles, in the United Kingdom, and Singapore. Much speculation continued even after Wright’s claim to be Nakamoto. When Wright subsequently refused to provide further evidence, the discussion turned out to be heated in the media and the Bitcoin community. The list of most likely Nakamotos includes Gavin Andresen, Hal Finney, Nick Szabo, and the infamous Dorian Nakamoto.

25 October, 2021

Bitcoin Serves As A Reserve Trump Card.

by Iveta Pařízková

in Cryptocurrency

Large companies have long been interested in Bitcoin and have already invested heavily in it. In this series – well-known PayPal, Visa, MasterCard, MicroStrategy, Tesla, McRock, even the Norwegian state, and many others.

Bitcoin

A reserve trump card in the deck of economic instruments because everyday financial transactions are carried out on the blockchain platform of several million dollars. Transfers in bitcoin cryptocurrency are just as simple as usual. The amount in bitcoins can easily be transferred to Australia, China, France, or just to a friend who is sitting next to you. There are even automatic exchange machines in which you can exchange cryptocurrency (in the common people – “crypt”) for the currency of a state and vice versa. It all depends on the country where you are.

Experts

Bitcoin will only gain in price Experts are confident that bitcoin will only gain at price and by the end of this year, it will cost at least 2.5 – 3 times more than it is now. Thus, it will not only offset inflation but also preserve your savings. Bitcoin is used as a real currency, with which you can not only pay for coffee and cake but also buy or sell a house for it. Around the world. It is enough to install an application with a jack (wallet) on your mobile phone, which contains your crypt. The difference between bitcoin huge difference between Bitcoin is its decentralization and independence. It is the complete opposite of our traditional financial system. When the European Central Bank introduces the digital euro, banks themselves will no longer be needed. Ordinary people will conduct financial transactions without intermediaries. Banks in this chain will become an extra link. Unless, at first, they will help transfer money from their accounts to digital wallets. The more actively people use these wallets, the fewer banks will serve them.

Digital Currency

Since the release of the digital currency will be handled by the Central Bank of the state, this currency will be central, like many other “coins”. This is the main difference between bitcoin and fiat money. There is no central institution that controls Bitcoin. It is impossible to manipulate him. At the same time, Bitcoin is a kind of basis for all existing cryptocurrencies. Blockchain platform The blockchain platform is constantly evolving. Over time, many additional applications will appear on it. For example, there is already registration of machines, tracking frozen food items for interruption of the refrigeration chain. In Panama, for example, you can buy or sell a house without a notary and official institutions. With blockchain, this is as simple a deal as selling a bicycle: you give me bitcoins, I give you a house. The sale itself is registered on the blockchain, and the buyer receives the so-called certified rights to a particular property. Or a car. Or a motorcycle. By the way, if you’re in a motorbike accident and need a lawyer, follow this link. Bitcoin as an alternative to the dollar and euro, In any case, bitcoin is a good alternative to the dollar or euro. As everything goes to the fact that the currency is depreciating, the ECB prints more and more additional money so that countries do not go bankrupt. There is huge inflation and, as a result, a financial crisis. In this chaos and amid not-so-bright prospects, Bitcoin promises stability and a kind of spare card in a dangerous financial game.

20 October, 2021

Why Cryptocurrencies Do Not Qualify as Sustainable Investments

by Zuzana Konečná

in Cryptocurrency

Cryptocurrencies as offshore financial services, if lacking in political support simply implies absence of endorsement that is vital for sustainable investments. While secrecy is a trait common to both offshore and crypto investments, offshore jurisdictions have to comply with international anti-money laundering and anti-terrorism laws, as well as with global policies in order to attract traditional investors.

The adoption of cryptocurrencies as offshore investment products puts offshore regulators in a position in which they have to continuously update their legal framework. The need to keep pace with changes in technological developments is necessary to ensure that the integrity of their international financial services and products is not undermined by market manipulators

On the other hand, cryptocurrencies in the world of investments, will find it difficult to make their way into the mainstream operations of big corporate organization. This is in light of the global movement to address the effects of climate change. The movement includes obligating big corporations to integrate and adopt sustainable and environment friendly practices, which cryptocurrencies like Bitcoin cannot offer.

Today, the most popular and sought after funds are the so-called ESG funds, which are a type of mutual funds in which the selection of securities focus mainly on corporate organizations highly rated for their ESG initiatives.

How Do ESG Funds Affect the Viability of Crypto Assets as Investment Options?

The ESG acronym stands for Environmental, Social and Governance indicators, by which corporations are rated based on their levels of support for the global movement in the battle against the effects of climate change. ESG mutual funds limit their stock investments on companies committed to reduce greenhouse gas emissions, improve social conditions and adopt policies for sustainable operations

Where part of the goal of ESG is to help achieve the global goal of attaining zero CO2 emissions, companies who accept or buy bitcoins and altcoins, immediately lack qualification for the ESG standards. The blockchain technology with which crypto miners work to solve encryptions is energy intensive. Crypto mining sites have been identified as among the largest users of CO2-emitting fossil fuel.

Sustainability of ESG Assets vs. Digital Assets

While the price of bitcoin surged to reach an all time high of $63K sometime this year, it was due to the participation of traditional investors in the buying activities. However, the value of the digital asset started to dwindle and dropped, down to prices that immediately spelled huge losses for a number of investors.

Many traditional investors learned that in not meeting the ESG rating, their viability in the securities market can be affected. Whales also affected the sustainability of bitcoins, as many bought billions worth of the digital coin to push the price index higher; only to dump their bitcoins later after determining the huge profits they stand to gain from the fluctuating prices of bitcoin.

Market analysis of stock performances revealed that the stocks of highly rated ESG corporations are the most resilient and steadfast under any kind of economic conditions. However, it should be understood that the performances of ESG shares are not based on individual trading but for being the stocks chosen by mutual fund providers. Einvestment Offshore Fund as an example, applies the principles of sustainability when investing the funds entrusted by users of their online investment platform.

9 September, 2021

Finance: Investing Properly in 옵션거래 Crypto

by Iveta Pařízková

in Cryptocurrency

Learning to invest may seem daunting, but it’s easier than you think. Anyone can start, no matter how much savings are available. Investing money in the 옵션거래 stock market is the number one way for most investors to build wealth and save for long-term goals like retirement.

How to invest in 옵션거래 using cryptocurrencies?

There are many ways to invest in cryptocurrencies. Which strategy is right for you depends on your expectations, your skills and how much time and money you are willing to invest. As a rule, you make profits by increasing the course.

There is no interest and investors also have to forego dividends. Cryptocurrencies are still not a classic investment product. This has its advantages, for example, getting started is quite easy, even for newbies.

First of all, it is important to be clear about the strategy. There are short-term investment strategies that are designed for success within a short period of time or long-term strategies. This takes a lot of patience, but the effort is much less. Also, think about how much you are willing to invest.

Cryptocurrencies allow you to start with small amounts, but depending on the type of trade, they may not necessarily generate high profits. Risk also plays an important role.

Risky investment strategies are often associated with high profits, but you should also factor in the potential losses. It is also possible to invest in cryptocurrencies in a safe way, whereby a certain risk always remains. After all, it is an unregulated, young market.

The safest platforms to invest in 옵션거래 with cryptocurrencies

First of all, you have to decide for yourself whether you want to trade actively or buy a cryptocurrency and hold it for months or even years.

On the other hand, many would like to physically own the cryptocurrency and either transfer it to their own wallet or leave it on the platform in order to sell at a higher rate.

옵션거래Investing in Bitcoin: A must in every crypto portfolio

Bitcoin is considered the safest investment for investors. The cryptocurrency will at least be relevant for many years to come. According to many traders, Bitcoin belongs in every portfolio. Anyone who can only invest in one cryptocurrency is well advised to invest in Bitcoin.

30 June, 2021

Life Insurance For Diabetics And Why Insurance Companies Are Starting To Invest In Bitcoin

by Alphonse Durepos

in Cryptocurrency

Diabetes is a chronic health ailment affecting the way our body converts food to energy. Most of the food we consume is broken down to sugar (glucose) and released into the bloodstream. When our blood sugar rises, it sends a signal to our pancreas to release insulin which serves as a key to let the blood sugar into the cells of our body for energy.

A person with diabetes either doesn’t make adequate insulin or can’t make use of the insulin it creates as well as it should. Not enough insulin or when cells cease to respond to insulin, excess blood sugar remains in our bloodstream. This could severe health problems over time like vision loss, heart disease, and kidney disease.

The Insurance Surgery – Assisting Diabetics Secure The Best Life Insurance Policy

People with diabetes are eligible to get a life insurance at reasonable premiums from the best and right insurance providers. The Insurance Surgery help diabetics obtain a life insurance – https://www.the-insurance-surgery.co.uk/medical-conditions-life-insurance/diabetes-life-insurance/. They are the top diabetes life insurance company in the industry where their team of experts individually asses every client’s situations to determine which insurance providers will offer the best coverage and premiums.

Many people with diabetes think that getting a life insurance isn’t possible or can be a big challenge. But this isn’t the case as long as you know where to look. Having asses your specific condition and situations, the experts at The Insurance Surgery know the top insurance providers to get in touch with and obtain coverage more quickly. If you find this interesting and appealing, check out https://www.the-insurance-surgery.co.uk/medical-conditions-life-insurance/diabetes-life-insurance/.

Cryptocurrency And Life Insurance

A life insurance is something that you may want to consider including in your financial plan especially if you would want to provide your loved ones a measure of security. Proceeds from a life insurance policy could be utilized to pay for final expenses, settle outstanding debts, or even cover daily expenditures. Whether a life insurance is a wise investment may be dependent on what your needs are as well as what you want a policy to do for you.

When signing up for a life insurance, you agree to pay a monthly premium to your insurance provider in exchange for a certain payout upon your demise if your policy is active. The insurance provider collects the monthly premium from its clients. Since they don’t expect to pay out every death benefit claims straightway, they then invest that money in bonds, stocks and other profitable automobiles. Typically, insurers prefer to make an investment in safe places since substantial losses would be disastrous if the insurer isn’t able to pay out claims.

But, some insurance companies have begun putting their float on investments that are considered as higher risk, Bitcoin in particular. This means that insurers have put some of their float to invest in Bitcoin.

According to findings from a previous survey by NYDIG, over 46 million of Americans now own Bitcoin. They also found that of those who hold an active life insurance policy, half have possession of digital assets like Bitcoin. This is because investing in cryptocurrency is now easier than ever. In the survey, more than half of the respondents are willing to receive all or some of their payouts in the form of Bitcoin.

Whether you would want your insurer to make an investment in Bitcoin, or if you want to get paid in cryptocurrency, finding the best insurance policy is crucial to make certain it matches your every need.

8 February, 2021

The Forex Market And The Cryptocurrency Market

by Alphonse Durepos

in Cryptocurrency

The market of foreign exchange is the biggest as well as the busiest financial market in the globe as it has opened numerous opportunities to traders which has allowed them to earn a large sum of money in only a short period of time. While this a fact, forex trading isn’t all rainbows and butterflies. When engaging in forex trading, it is crucial that you have good knowledge and understanding of the forex market prior to making decisions.

The Forex Market – Working With An Experienced Forex Broker

Similar to other forms of investments, it is fundamental that you make time to research and study the conditions surrounding forex trading. To do this, many forex investors and traders partner with a forex broker, with the presence of the best Islamic forex broker in the industry, to help them in their forex trading journey and evade any frustrations and obstructions towards making a favorable trade.

Let’s have a look at some of the advantages of working with a forex broker, such as the best Islamic forex broker, for anyone who would want to make some profits.

They Help You Better Understand the Forex Market. If you are new to the forex market and forex trading and decide to do it on your own, you may encounter plenty of challenges, roadblocks and even losses. To avoid such, work with a professional forex trader as he/she can teach you the ins and outs of the market and forex trading and can also do the bidding for you.
They Aid You In Making Decent Profits. Forex markets are extremely volatile and disruptive. If you want to earn decent profits, you have to be open-minded as well as keep to a minimum your expectations. Working with an experienced forex broker can very much help you earn decent profits.
You Save A Lot of Time. Learning and implementing what you have learned about forex trading, not to mention being constantly updated of the market, is actually time-consuming. If you are impatient or already have a lot on your plate, it is best and wise to hire a reliable and trusted forex broker. They can do the trading for you and work on commission. This is better than exhausting all your valuable time learning how to trade on your own.

The Cryptocurrency Market – The Benefits of Crypto Trading

While forex trading can be very profitable, there are those who prefer to do crypto trading. Yes, there is an opportunity to make huge profits in the cryptocurrency market. However, similar to forex trading, it is imperative that you have knowledge and understanding of cryptocurrency, the crypto market and of course crypto trading. But, why is crypto trading so appealing to many even if it isn’t considered a legal tender? Below are some reasons:

Runs 24 Hours. The market is open 24/7 since a government doesn’t control it making it decentralized. Hence, crypto traders can make a trade at any time of the day.
Transparency and Security. With the blockchain technology, your transactions and crypto wallet are transparent, however your personal information are hidden. In terms of making money transfers, transparency is crucial. When making use of cryptocurrency and the blockchain, security is increased as the protocol or the transaction cannot be changed or manipulated by anybody.
Cheap Trading Fees. Compared to the usual bank payments, particularly for transaction of high-value, crypto transactions fees are very low.
Volatility. The volatility of cryptocurrencies makes the market very exciting. Because of this, crypto trading bots have become prevalent among traders as it allows them to always control their trading.

15 November, 2020

Is a Cryptocurrency-Based Credit Card Feasible?

by Zuzana Konečná

in Cryptocurrency

While American Express Credit Card enables cardholders to make cashless payments on purchases, it’s not a feasible financial solution in a blockchain platform. If ever a cryptocurrency-based credit payment system will be developed by American Express (AMEX), cardholders must have enough digital money in their e-wallet to pay merchants who accept bitcoin or other altcoins like Ethereum, Bitcash or Litecoin.

Both AMEX Credit Cards and cryptocurrencies are cashless methods of payment, yet the former enables acquiring or purchasing of goods or services without requiring immediate cash payment. Cryptocurrencies on the other hand, is cashless in nature, but backed by a blockchain system that confirms there is actual cash involved in every virtual transaction.

A Quick Look at How PayPal Offers Cryptocurrency Services

Even if payment processor PayPal is now offering cryptocurrency services to its customers, the services offered are restricted to buying, selling and holding of digital money within its Cryptocurrencies Hub.

While there are PayPal merchants who accept cryptocurrency as modes of payment, PayPal does not allow customers to make direct payments using digital money of whatever type. Mainly because PayPal’s blockchain partner Paxos, has to confirm the validity of every cryptocurrency transaction through a process that is entirely different from the payment processing method used by PayPal.

Credit cards like AMEX can fit into PayPal’s payment processing system as a service to customers looking to pay a PayPal merchant on credit. After all, AMEX Credit Card holders only have to confirm the validity of their AMEX card online via americanexpressconfirmcard.live in order to have the credit payment processed and approved.

How Does Cryptocurrency Payments Work in a Blockchain Platform

Cryptocurrency as a mode of payment works on the principles of a peer-to=peer payment system (P2P)., where the parties to a specific transaction have direct involvement without the need to pay fees and disclose any personal and financial information. First off, a cryptocurrency e-wallet must have sufficient balance to cover the transaction, which can be verified by way of the blockchain ledger that records all related digital currency movements.

However, the blockchain ledger uses encryptions when recording such transactions, which can take the form of a long chain of encryptions that connect a block of transactions starting from the moment the digital money first appeared in a blockchain ledger. That being the case, the recording system requires solving or determining which encryptions are related as a way of confirming the validity of the cryptocurrency used for a block of connected transactions.

The blockchain system also puts a particular set of encrypted data through a hash function, which as a test, is expected to generate one hash value. If any one attempts to change even a tiny portion of any of the original encryptions, the altered set of encrypted data will produce a completely unrecognizable hash value. Bitcoin for one uses the SHA-256, an established cryptographic hash algorithm.

Supposing a bitcoin user changed a transaction value even by 0.0001 bitcoin, the hash that will be generated by the chain of encryptions would be unrecognizable based on the SHA-256 system . In such cases, the blockchain network will not confirm a digital currency transaction as valid. .

30 October, 2020

What Do Cryptocurrency Insurance Policies Cover?

by Zuzana Konečná

in Cryptocurrency

While cryptocurrency is already growing at a rapid pace, one can find only a handful of insurers offering coverages priced and valued in digital currency. Moreover, as far as blockchain-based car insurance coverage is concerned, the application for this type of car insurance is yet to be developed.

After all, insurance policies are designed to limit the amount of liability that insurers will assume in the event of loss or damage based on agreed terms and conditions. Yet cryptocurrencies are volatile money, which in a near or far future could present a dramatic change in values that will nullify the viability of offering a crypto-valued shield against potential risks. In the same way, client expectations on the amount of coverage for their assets is not assured, since the use of blockchain technology for monetary transactions is still loosely regulated.

The primary challenge for most insurers is the difficulty of calculating the value of possible risks since there is lack of sufficient information on which to develop a model for insurance pricing and valuation.

Secondly, there is still little room for growth, as clients still need to understand how a cryptocurrency insurance protection will work in a way that will not put them at a disadvantage in the long run.

Thirdly, there have been numerous cases of cryptocurrency cyberattacks and scams that make cryptocurrency insurance a less appealing choice of protection.

Some Known Examples of Cryptocurrency Insurance Already Offered

In some European countries like Germany and Norway, the use of cryptocurrency, particularly bitcoin, is already widely accepted and at the same time regulated. As opposed to digital money in the U.S. that has yet to gain legal recognition before American consumers can fully appreciate the significance of a crypto insurance coverage. Nonetheless, the following U.S. based fintech firms have already ventured into the business of offering insurance policies for certain assets:

Bee Nest – Based in San Francisco, California, this fintech collaborated with We Trust a fiduciary company. Together, they developed a blockchain-based insurance model for homeowners. In line with the offering, Bee Nest uses a proprietary digital currency called Bee Token, which the fintech initially introduced as digital currency that can be used in booking accommodations in the San Francisco area.

Guardtime – A fintech based in Irvine, California that partnered with logistics behemoth Maersk in developing a blockchain-based marine insurance. Using what fintechs call as “Smart Contracts,” Guardtime’s cryptocurrency maritime insurance policy offers a way of managing unchanging risks as they occur in the shipping industry.

Lemonade – This insurance company based in New York City uses blockchain-based technology in combination with artificial intelligence in offering cryptocurrency insurance to homeowners and renters. The Lemonade crypto insurance model involves the collection of a monthly premium starting as low as $5 per month, to cover a fixed insurance fee, while the remaining portion is allocated for future insurance claims. Claims for a loss must be made immediately to allow for quick valuation of loss coverage.

If you have been reading this in relation to your search for a cryptocurrency car insurance, and in case you do find some, our advice is not to walk into any such offers blindly. Even when looking for a regular car insurance policy, you have to shop around and make comparisons to make sure you will be getting a reasonable deal and adequate coverage.

The good news s that you can find all pertinent information you need at https://carinsurancesnearme.com/ when in the process of evaluating your options.

21 October, 2020

Cryptocurrencies and its advantages

by Iveta Pařízková

in Cryptocurrency

Bitcoin, Ripple, Litecoin, Ethereum, and Co. are all examples of cryptocurrencies. These are purely virtual currencies that are primarily used online. They can be used for transactions between individuals, for business transactions, or for games such as kiss918 or gambling transactions.

Decentralized structure

Cryptocurrencies are not administered from a central point (e.g. bank) but are distributed across all participants in a special network. This decentralized structure is achieved via a distributed ledger technology – e.g. blockchain or tangle. Each participant receives a copy of the database, which contains all previous transactions.

Wallets: accounts for virtual currencies

In order for a user to participate in and actively use a cryptocurrency, they need an account, the so-called wallet. This is where the participant’s current tokens are stored – i.e. their current account balance, so to speak. There are different forms of wallets, but in principle, they all have the same functions: They are used to send, receive, and manage a participant’s tokens. Wallets are cryptographically protected and also contain the address of the owner.

Advantages of cryptocurrencies

Cryptocurrencies offer many advantages over traditional currencies, including

Fast transactions with minimal waiting times in the range of a few minutes
Anonymous payments protect privacy
Decentralized payment transactions independent of financial institutions
Secure transactions and tamper-proof accounts through shared management via blockchain
Currency is valid internationally, no exchange rates, no link to national interest rate developments

Cryptocurrency Risks

There are also risks

Lost wallets are usually irreplaceable
Depending on the currency, only very limited distribution/acceptance as a means of payment
Strong price fluctuations

Is a cryptocurrency fiat money?

Fiat money is all means of payment that have no intrinsic value. This means that they have no real exchange value, unlike gold or raw materials, for example. The classic fiat money that everyone knows from everyday life are usual currencies: euros, dollars, and the like consist of coins and banknotes that are only worth something because you have agreed on them. Fiat money can be exchanged for goods and services practically anywhere.

Strictly speaking, cryptocurrencies are also fiat money. Not only that – they come much closer to the definition of fiat money, as they are purely virtual and thus actually have no intrinsic value at all. As long as there are enough users of a cryptocurrency who recognize its value, it can be used for a wide variety of transactions just like fiat money.

9 September, 2020

Financial Options – SME Loan Broker And Crypto Lending

by Alphonse Durepos

in Cryptocurrency

Finance Brokers provide assistance to consumers looking for the right kind of loan that will meet and match their unique financing needs and conditions. In order to effectively do this, a Finance Broker lay their knowledge, expertise and experience throughout an extensive range of products from numerous lenders. They make every effort and initiative to recommend products that they believe, from their expertise, will suit the goals and needs of clients.

SME Loan Broker – Who Are They?

SME Loan Broker from Avant Consulting does just that. They offer a gamut of loan brokering services, which includes Temporary Bridging Loan, Hire Purchase, Industrial Property Loan Financing, Commercial or Shophouse Property Loan, Mortgage Refinancing, and Residential Financing to name a few. As they are dedicated to provide excellent service, they closely work with every client they have to ensure that their financial option is modified and fitted to their specific corporate needs and individual needs as well as lessen interest rates and other fees for them.

Such financial expert is imperative for consumers to explore and discover every financing option they have. They establish rapport, build client’s confidence and trust as they make such crucial financial decision.

In essence, a loan broker is an individual or a firm that functions as a go-between or financial intermediary for a borrower and a lender. Traditional as well as non-traditional lenders utilize the services of brokers to provide and complete all the needed applications, documentations, as well as all the processes to assist borrowers throughout the loaning process.

Crypto Lending – What Is It?

While many choose traditional loan financing that require the usual collateral, there are borrowers who opt for crypto lending. This trend has opened up possibilities for both big and small crypto players.

Crypto lending is a rather simple concept wherein borrowers make use of their digital assets, cryptocurrencies, as collateral to acquire a stablecoin or fiat loan. Lenders, on the other hand, provides the borrower the needed assets at an interest rate they both agreed upon. Crypto lending could also work the other way around where borrowers provide stablecoins or fiat as collateral to be able to borrow cryptocurrency.

To put it in simple term, crypto lending is collateralized loans. Although this may not sound rather revolutionary and innovative, crypto lending is still a powerful financial option that open up more opportunities and benefits for individual borrowers, businesses, traders, as well as users, which includes faster loan processes, increased accessibility, much more flexible loan terms, lower interest rates and fees, and higher standards of safety.

With the introduction and rise of crypto lending, the benefit and functionality of cryptocurrencies has considerably increased. While still in its stage of infancy, crypto lending is projected to grow as the size of the crypto lending market surpasses 10 billion US dollars when it comes to overall loan origination.

8 July, 2020

Cryptocurrency As Loan Collateral

by Alphonse Durepos

in Cryptocurrency

Personal loans are an amount of money borrowed from licensed lenders which you could use for various reasons, such as for big purchases and emergency expenditures. These loans are settled or repaid typically on a monthly basis for a certain period of time depending on your situation as well as how diligent you are at settling your payments. Personal loans could be very beneficial as long as you use it well and could manage to repay it.

If you need a personal loan, always transact with a licensed money lender. For instance, https://www.accreditloan.com/ is a licensed money lender in Singapore providing high-quality loans that will match your every need. With their innovative digital solutions, their loan process is easy, convenient, quick and very much secure.

https://www.accreditloan.com/ has been is service for more than 17 years. That is 17 years of experience in the financial industry. And within those years, they have made over 200 thousand clients happy and very much satisfied with their lending service making them a very reliable and credible lending company to transact with. So, if you want to be a happy client as well, choose a licensed, credible and reliable money lender for a conveniently smooth process, from the application stage to repaying your loans.

Secured And Unsecured Loans

Loans could either be unsecured or secured. Unsecured loans don’t need any form of collateral to be able to borrow some money whereas secured loans require you to provide a collateral that you agree to give up to your lender in the event that you cannot settle the loan. A few examples of accepted collateral are personal or business car, real estate, investment accounts, and valuables like jewelry, fine art or collectibles.

A more modern form of collateral are your cryptocurrencies. Cryptocurrencies (cryptos) are digital currencies that aren’t controlled or regulated by any government unit or by any financial authority. There over 1,000 kinds of cryptocurrencies, Bitcoin being the first ever to be released in 2009.

What are crypto-backed loans and why consider taking one?

Crypto-backed loans are loans wherein you use your cryptocurrency assets as collateral. In the past, many crypto holders are forced to sell their crypto assets for fiat money if they need it. Now, instead of selling their assets, they use it as collateral to be able to borrow fiat money like the USD. This allows them to keep ownership of the assets while obtaining access to the fiat they need.

What can you use a crypto-backed loan for?

Similar to personal loans, you could make use of a crypto-backed loan for various reasons, which includes:

Purchasing Real Estate or a Home
Paying Travel or Vacation Expenses
Financing A Start-up
Divesting Investments
Settling High-cost Debts Such as Student Loans

5 June, 2020

Cryptocurrency For Stablecoins

by Alphonse Durepos

in Cryptocurrency

Although there are several reliable and trusted money lender Singapore, picking the right one that would suit your needs could be a tedious and frustrating process since there are numerous aspects that you need think through, including:

Licenses and Accreditation: Of course, it is crucial that the money lender Singapore has the necessary license from the government showing that they are operating legally and have met all the imposed standards and requirements. It has to be accredited by professional bodies as well to show it is a reliable, trusted and professional moneylender.
Reputation: Reputation is weight aspect to consider. Nowadays, people rely on reviews from previous clients to see how well they interact with people and provide their service. Money lenders with excellent reviews have excellent reputation.
Fees: All certified moneylenders will charge a certain fee when you get a loan and for the services they provide. Hence, look into these fees and compare them with other money lenders. Also ensure they are reasonable and affordable.

Crypto-backed Loans

Usually, moneylenders require some type of collateral for a loan to be approved. While borrowers provide collateral like their home, their car or other assets and property they have, others make use of cryptocurrency to back their loans.

As many are already aware, borrowers are able to make use of their cryptocurrency assets to serve as collateral when loaning fiat currency or stablecoins from lenders who accepts cryptocurrency as a collateral. This could actually work the other way around as well wherein borrowers make us of fiat currency or stablecoins as the collateral to borrow cryptocurrency assets.

What are Stablecoins?

Stablecoins provide a lot of benefits that other cryptos don’t offer. Although they are similar to cryptocurrencies, stablecoins are more stable, as its name implies.

In a market wherein the value of the assets that one holds violently fluctuates, the choice to ‘store’ the value of funds in a manner that it eliminates volatility is rather crucial. Such option isn’t only for crypto traders, but also to retailers accepting cryptocurrencies without having to worry about the values fluctuating.

In most circumstances, most of the stablecoins are pegged or attached to broadly utilized fiat currencies, whereas some are pegged on commodities like as Gold.

What Are They Used For?

For numerous crypto traders, stablecoins serve as a fallback or an alternative when they would like to hedge their crypto without having to cash out to fiat currency. This is quite effective particularly when markets are bear or if the intend to keep revenue in fiat. The currency of the world, after all, is still fiat not cryptocurrencies like Bitcoin.

Stablecoins are expected to develop into a significant element in decentralized finance, popularly known as DeFi. DeFi offers an alternative to the present financial systems and structures with one that is designed and created on public blockchains.

As mentioned, stablecoins are also use for peer to peer loans. If DeFi is to progress and expand, stablecoins will surely play a significant role since people will be needing a way of transacting with one another without the volatility, and without wasting or losing advantages of cryptocurrencies.

11 May, 2020

Transition To A Cashless Economy, Cryptocurrencies

by Iveta Pařízková

in Cryptocurrency

The transition to a cashless economy is accelerating in several countries including Canada. To replace cash payments including personal loans online, blockchain technology could give a serious boost.

Cryptocurrencies, however, raise concerns, particularly with regard to the security of transactions, as reported in a recent article by Cointelegraph, a digital media specializing in crypto assets.

It is predicted that by 2030, only 10% of the money spent in Canada will be spent on cash.

What Does A Cashless Future Mean?

Even if thinking about cryptocurrencies has started, Canadian authorities are in no rush to move from cash to digital. In October 2018, a study by the Bank of Canada described a number of issues related to the elimination of cash, including the reluctance of seniors to turn to electronic payments.

Maintaining operational reliability also raises fears and measures will have to be envisaged to remedy this, including that of issuing a digital currency but not a cryptocurrency. It’ would be a digital variation of the Canadian dollar which is going to contend with private payment systems.

Impact on consumption

Another Bank of Canada study found that a cryptocurrency could potentially benefit the country’s economic well-being. It “could lead to a 0.64% increase in consumption for Canada compared to economies where payments are made only in cash,” reports the Cointelegraph.

To deepen its understanding of new financial technologies, the Bank of Canada is conducting, in collaboration with TMX Group and Payments Canada, the Jasper research project, the flagship ledger technology experiment launched in 2017. They would constitute an effective solution to automate real-time securities settlement.

For its part, since 2017, Royal Bank has been testing blockchain technology to facilitate the transfer of payments between its establishments located in the United States and Canada. In particular, it has deployed software developed by Hyperledger which enables it to monitor transactions in real-time between the two countries.

What is done elsewhere

Other countries are preparing the transition to digital payments. In Australia, there has been the introduction of a bill clarifying that purchases of over 10,000 Australian dollars (about 6,750 dollars) in cash would not be legal. According to the government, this measure will deter tax evasion and encourage the transition to a cashless society.

For its part, Germany is a bit apart in the European Union while the country does not impose any restrictions on the use of cash payments. A plan to limit cash transactions to 5,000 euros (about C $ 7,300) – both domestically and throughout the eurozone – has sparked a negative reaction in German society. The fact remains that the country is in the process of revising its position in this area.

Since last year, it legally identifies bitcoin being a currency and has removed value-added tax whenever paying for services and goods with the use of cryptocurrencies.

Swedes ahead

Sweden is said to be one of the most advanced countries towards a cashless economy. The percentage of money used in this country has decreased considerably (representing only 2% of transactions) and less than 20% of stores accept cash.

This was made possible thanks to the efforts of the authorities, the unprecedented public confidence in banking structures, and the promotion of the Swedish national mobile payment system, used by more than half of the population. Small Swedish businesses have also moved to cashless payments.

In addition, the central bank of Sweden, the Riksbank, has been testing since November 2018 the first Swedish cryptocurrency called e-krona. Its chief economist, Gabriel Söderberg, believes that blockchain technology is very promising and that there will be different forms of applications in society.

If it is certain that liquidity will become digital in the more or less long term, like others he wonders about the role that blockchain technology will play in this shift.

“Right now, many of us are studying how blockchain could help future payments. I am fully open to the possibility that this could potentially be incorporated into certain forms in future payment systems, but we do not yet know to what extent, ”he summarizes.

23 March, 2020

Canada Is Taking The Next Big Step In Crypto Nation Race

by Iveta Pařízková

in Cryptocurrency

First Bitcoin mutual fund in CanadaFirst Block Capital Inc., a Canadian investment company which is also active in the crypto market, stated that its own Bitcoin funds are now officially recognized as investment funds in Canada. Not only is this a big step for cryptocurrency investors, it’s also another big step for Canada in the Crypto Nation race – and could open more doors for global Bitcoin trading.

Check out also, The Best Canadian Dividend Stocks For 2020 here.

Canada’s Crypto Regulations

More market presence at better conditions

The “FBC Bitcoin Trust” has been the flagship of First Block Capital Inc. for years. The fund was officially registered as an investment fund in Canada and enables investors to save fund shares in self-managed accounts such as registered pension plans or tax-free savings accounts. In this way, investors can easily get into Bitcoin trading and benefit from it without having to worry about buying and managing the cryptocurrency themselves.

The mutual fund is currently only accessible to accredited investors via NEO Connect, a platform for fund sales, under the acronym FBCBT. Trading the Bitcoin fund should be as easy and quick as with regular funds. The 30-day redemption clause has also been deleted for the fund.

If the test phase is successful, the funds from Bitcoin and Co. could soon spread to other countries and be open to all investors, which would make buying cryptocurrencies a great success.

A big step for investing cryptocurrencies

Due to the simplicity and elimination of the “middleman”, the investment funds are a qualified investment within the meaning of the tax law. The FBC Bitcoin Trust is also the first product of its kind in Canada to be approved by both the Ontario Securities Commission and the British Columbia Securities Commission, and has given investors the opportunity to use Bitcoin as a mutual fund in savings deposit and retirement savings accounts.

Sean Clark, managing director and founder of First Block, said at the time of the announcement in a statement that he “wants to increase Bitcoin’s investment risk by removing complicated hurdles for direct cryptocurrency investments.” The company is pleased to announce that its fund is now more accessible to investors and has found a suitable partner for this project in NEO Connect. Since its introduction about a year ago, the Bitcoin fund has already won over 150 shareholders.

28 December, 2019

Investors Are In Debt For Bitcoins

by Iveta Pařízková

in Cryptocurrency

Investors are now even taking out loans to buy bitcoins, the first and well-known cryptocurrency running in the market. This becomes a problem due to the crash. Governments now want to intervene.

18% of Investors Buy Bitcoin on Credit

Given these price fluctuations, it is correspondingly worrying that investors are increasingly in debt for the purchase of cryptocurrencies. It is more alarming that many people in bad debt jump into the wagon borrowing more money from agencies like https://newhorizons.co.uk/loans-for-bad-credit/no-guarantor-loans/. Because like the Brockhoffs, 18 percent of Bitcoin buyers are already taking out a loan. This is shown by a survey of 3000 investors in the USA and Europe, which the Coindesk website has just published.

Wolf Brandes from the Hessen Consumer Advice Center considers this to be a critical development: “An investment in bitcoins is highly risky, in the worst case there is a risk of a total loss.” Anyone who has taken out a loan quickly remains on debt. Brandes already feels reminded of the Neuer Markt. Back then, investors also dreamed of big profits, bought stocks at the pump – and ended up losing a lot of money. Felix Hufeld, head of financial supervision Bafin, also fears that the Bitcoin boom will result in “excesses that produce bitter losers”.

Banks Restrict Transactions

This is why some banks intervene. JP Morgan, Citigroup, Bank of America and Lloyds have recently stopped allowing their customers to buy bitcoins with their credit cards. By doing so, they want to protect consumers – but also themselves. The fear of banks that they will remain on debt is obviously too great if the prices for cryptocurrencies fall. Especially since credit cards in the United States and Great Britain work a little differently than in Germany: If the open amount is automatically debited from the current account every month in this country, customers in Anglo-Saxon countries can flexibly decide when and how much to repay. Unlike in Germany, in the USA and Great Britain, you can get real credit via the card and the banks have no interest in customers using it to gamble. And buying bitcoins is a gamble, as central bankers like Mario Draghi see it. Digital currencies should be classified as “very risky investments,” he said this week.

Especially since no one knows what will happen to the cryptocurrency. The few forecasts that are available differ widely. While the Danish Saxo Bank sees Bitcoin’s price rise to $ 100,000 this year, Goldman Sachs warns that some cryptocurrencies could fall to zero. Oliver Flaskämper, who has been dealing with bitcoins for years and operates Germany’s only marketplace for cryptocurrencies Bitcoin.de, therefore does not even venture a forecast. “I could also predict the lottery numbers there,” he says.

The power consumption for the production of bitcoins is high

It will also depend on politics on how Bitcoin and Co. develop. Governments and regulators worldwide are currently dealing with the question of how to control cryptocurrencies. Agustin Carstens, Director General of the Bank for International Settlements (BIS), believes this is imperative. By the latter, he means the enormous energy that has to be spent to create bitcoins on high-performance computers. The electricity consumption for the production of the cryptocurrencies already corresponds to the consumption of the state of Singapore, Carstens calculates.

In Germany, the Bitcoin regulation even appears in the coalition agreement between the Union and the SPD: One wants to work for an “appropriate legal framework for trading cryptocurrencies and tokens at European and international level,” it says. At the request of Germany and France, a set of rules for cryptocurrencies could even become an issue at the meeting of the G20 finance ministers in March. The two countries propose to commission international expert bodies such as the FSB, which is responsible for financial stability issues, with a report. In addition, the International Monetary Fund (IMF) must be considered. But that also shows: What regulation of cryptocurrencies should look like is still open. Especially since this runs counter to the ideas of their inventors who want free currencies,

South Korea and China have banned bitcoin trading

China and South Korea, which completely ban bitcoin trading, are already going particularly far. Exchanges on which Bitcoin and Co. are traded must close. China has also banned the creation of new bitcoins. Digital currencies are generated on high-performance computers – this is not possible without access to the power grid, which China is now refusing.

Worldwide, however, a complete ban on cryptocurrencies is hardly enforceable, according to exchange operator Flaskämper. He compares this to gold: in history, too, people have always wanted to ban precious metals. But you couldn’t keep it up. In his view, a ban would not mean the end of cryptocurrencies – trading with them would only migrate to the so-called darknet. Governments could have no interest in that either.