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Bitcoin cost has surpassed $12,000 in both South Korea and Japan, two noteworthy bitcoin markets that are responsible for around 74 percent of worldwide bitcoin exchanges.

Bitcoin In South Korea: $12,653

In South Korea, bitcoin is being traded at a premium of over $1,270. Though, not as high as rates provided by ETNs (Exchange Traded Notes) or GTBC (Greyscale Investments), it still significantly expensive to buy bitcoin in South Korea or Japan.

At its peak, bitcoin accomplished an untouched high in South Korea at $12,653, as the worldwide bitcoin cost neared the $11,000 check.

Dealers in South Korea still invest into bitcoin with a high premium despite South Korea being the third biggest bitcoin market because the supply of bitcoin from the local market is low and the demand has increased at an exponential rate in the course of recent months.

Bitcoin In Japan: $11,827

While the premium in Japan isn’t as high as South Korea, it’s still higher than the premium of other countries, such as the US.

At the time of writing, Bitcoin is being exchanged at over $11,500 in Japan, roughly $1,000 higher than that of the worldwide bitcoin normal cost.

As indicated by a few crypto market suppliers including CryptoCompare, the Japanese bitcoin exchange market represents 64 percent of worldwide bitcoin exchanges, almost twice as large as the US. However, the worldwide normal bitcoin cost is often based on the exchange rate in the US, and the cost of bitcoin in Japan is regularly 5 to 8 percent higher than that of the US.

As the biggest bitcoin market, Japan needs to have the highest liquidity and the supply of bitcoin. Subsequently, there should not be a high premium of 5 to 8 percent in the midst of strong rallies, because being the largest market, it should have adequate liquidity and supply to address the developing interest from financial specialists.

For a long time, experts have scrutinized the zero-fee exchanging stages of Japan, and the likelihood of wash or bot trading. It is likely that like China, trading volumes in Japan are swelled, given its high premium rates.

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Top Bitcoin Exchnages – Buying Bitcoin Through Different Exchanges

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uying Bitcoin Through Different Exchanges

Bitcoin is a peer to peer, decentralized digital currency. The currency is free from any third-party influence like governments, the central bank, or a governing authority. The currency promises to revolutionize the traditional way of spending money in near future.

Bitcoins are not real coins. It’s a currency that is based on a string of codes and locked with encryption keys. The transactions made through bitcoins leave no traces behind, giving those involved complete anonymity.

There are several different ways to buy bitcoins but the most common way is buying through cash exchanges.

Buying Bitcoins Through Bitcoin Cash Exchanges:

Buying bitcoins through cash can be confusing at times. Especially for those doing it for the first time. But don’t worry, we have compiled a list of Bitcoin cash exchanges that make the whole process simple and straightforward. The list includes:

LocalBitcoins:

LocalBitcoins is a reliable Bitcoin escrow service from where you can cash deposit or cash trade in person. A quick step by step guide on LocalBitcoins includes:

  • Find a local seller who is willing to trade in cash
  • Choose how many coins you want to buy
  • Receive seller’s account number
  • Deposit cash into seller’s account
  • Upload money-deposit-receipt as a proof
  • You are ready to receive bitcoins in your LocalBitcoin wallet

BitQuick:

BitQuick connects you with sellers where you can pay with Bitcoin and buy products online. For now, BitQuick is only available in the US and works the following way.

  • First, you will need to find a seller
  • After finding a seller, discuss the price for bitcoins
  • Receive seller’s bank account number
  • Deposit cash into seller’s account
  • Upload receipt as a proof
  • Receive bitcoins

Wall of Coins:

A peer to peer bitcoin exchange. Wall of Coins offers a number of bitcoin payment methods; however, the cash deposit is the most common method that they offer.

Wall of coins is one of the largest cash bitcoin exchange in the US with over 100,000 deposit locations across the country.

Apart from the US, it also operates in some major countries like Germany, Canada, Latvia, Poland, Argentina, etc.

LibertyX:

LibertyX offers its services at a number of retail stores across the US. However, it requires the buyers to provide their identity which makes it less private compared to those mentioned above.

The maximum limit on buying bitcoins online from LibertyX is $1000, with 1% fee on each purchase.

One of the unique features of LIbertyX is that it grants $1000 worth of bitcoins for free to those who sign up through Facebook.

Bitcoin ATMs:

Bitcoins through ATM? Yes, you read it right. You can buy cryptocurrency through Bitcoin ATMs with only cash. Bitcoin ATMs require no verification, making it one of the most private ways of buying coins.

The average transaction fee through bitcoin ATMs is 5-10%, which is completely acceptable to those who want 100% privacy.

Bittrex:

Bittrex is a USA based digital currency exchange that offers fast trade execution, protected wallets and cutting-edge security measures to ensure the safety of your funds. It is said to be supporting more than 190 cryptocurrencies with a market cap of $354,425,501.

Bitfinex:

Bitfinex is a cryptocurrency trading platform based in Hong Kong that offers peer-to-peer trading of all major cryptocurrencies. It’s known for its customizable interface, security and variety of digital currencies.

Bithumb:

Bithumb is a Korean cryptocurrency exchange portal which is known for its reasonable price rates for bitcoin traders, ability to make quick real-time transactions and protection of every users’ assets with SMS verification. It is currently having a market cap of $314,531,860.

Kraken:

Kraken is a San Francisco based cryptocurrency exchange established in 2011. You can exchange multiple digital currencies as well as buy bitcoins. The currencies traded include Bitcoin, Dogecoin, Litecoin, Ripple, Ven, U.S. dollars, the Korean won and the euro. Moreover, Kraken is known for its security measures to prevent any sort of illegal activities to take place.

GDAX:

GDAX is a U.S. based exchange that offers a spontaneous, trusted and secure interface, along with full insurance of the funds held online.  It is also backed up by major investors such as Union Square Ventures, Andreessen Horowitz, and the New York Stock Exchange. Currently, the market cap of GDAX is at $104,995,957.

Final Word:

These are some of the top exchange bitcoin for USD through which you can buy coins. Each exchange has different terms and conditions for its users. Make sure you go through them carefully before acquiring their services.

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Bitcoin – Investors sticking out the instability in digital currency

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The value of the cryptocurrencies is fluctuating every moment. That is why investors still consider these cryptocurrencies are very new with supreme returns.

Ethereum’s value was all-time high over $400 in June but fell lower $200 for the first time since May 30. Furthermore, Bitcoin’s price correction wiped off closely $4billion in its market price.

Bobby Lee, CEO of the Bitcoin exchange told CNBC that the true value has yet to be discovered. He states in a Hong Kong conference, “If you think about it, the volatility is natural for an asset class that is so new. There’s no price discovery for it (yet).”

He explains that people need to discover the true value of the digital currency bitcoin. They have a tendency to trade these assets at a firm, promotional level before market analysis it could be worth more and this a time when the price jumps.

After getting legalized in several countries, the currencies have seen a significant rise in the popularity. Such as Japan legalized the bitcoins as a payment method.

Managing director of Hong Kong-based commodities and digital currency trading house Dave Chapman says, “We now sort of at … a tipping point, where people are now considering bitcoin or ethereum or digital assets as more mainstream.” And,” A lot of the people that we service are actually very comfortable with having 1 percent of their net worth into bitcoin as it is considered to be the best way to invest in bitcoin.”

He also adds, “There’s no other asset class in the world that could’ve given you the historic performance of this sector … the historic performance, which is obviously not representative of future earnings, … does appeal to a lot of people.”

For situation: $100 of Bitcoin credited in 2010 is now worth more than $75 million.

The analyst has made mixed estimations about these digital asset’s values and market cap as well. According to the BTCC’s Lee experience, the market cap for the Bitcoin will hit at least $trillion by 2025. He says, “I think it’s going to go to at least $1 trillion, if not maybe $10 trillion in the next five to ten years.”

Bitcoin’s current market cap is about $38.55 billion on supply and around 16 million in circulation. Whereas, the total supply of the bitcoin is 21 million. According to Lee, “In a grand of scheme of things, it’s nothing. Many, many companies are worth way more than that.”  Furthermore, tech companies already have their market cap in billions or trillions of dollars.

Regulations may help to increase the credibility of these digital assets. Accordingly, Japan, Russia, and China are introducing new regulations.

In the end, Chapman also added that a number of investors have a fear of loss. That’s why they are still not ready for bitcoin investment in the digital currency market.

“We get a lot of people who are like ‘You know what? I still don’t believe in this experiment. I’m not really a believer, but I’m tired of sitting on the sidelines and missing out.”

 

 

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The Hidden Dangers of Bitcoin

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Hidden dangers of bitcoin

Leashing its way threatening the legacy powers, bitcoin has become a genuine innovation in the world of decentralized encrypted currency. Without the doubt carrying a number of untold valuable services, it has widely passed a conflict of biblical financial and economic proportions. With its revolutionary outburst on the internet and the disruptive potential at its first attempt, alongside other chains, bitcoin holds a chain of hidden dangers too. There is a widespread political power and economical threats bitcoin is adapted to. A lot of crypto user face bitcoin hidden dangers.

In order to purchase items, this digital currency can be traded from business to business or from person to person. Being owned by ‘nobody’, this sets it unlike from other financial institution, ‘brick and mortar’. Challenging the sovereignty of entrenched financial interests, bitcoin is bringing a number of conflicts.

Deflation

Bitcoin has come up with a lot of hidden cons. Establishing the third-party trust mechanism, this system is ready to obsolete central banks in a severe case. Challenging the monopoly of the banking world may result in a higher risk of opportunity than ever before. This Armageddon will trigger more conflicts and struggles in a result Deflation will be the utmost backlash of it.

But how is deflation a bitcoin hidden dangers? Reduction in the prices of daily items and purchases, reduced petrol prices is a ‘wowza’ for private citizens. Deflation may sound very promising and attractive to our ears but it will stop the cash flow to a great extent. Reduced prices mean reduction in the wages which eventually means the reduction in the collection of taxes. Getting a hold of the lesser amount of tax collectibles will definitely disturb the government and financial institutes. Keeping cash in hand, private citizens will be able to challenge the government on so many levels. This can create quite an alarming situation in itself. Though it is a no major harm to the private citizen, it is an alarming situation questioning the hold of the government and its entities.

Supply and demand – Manipulate?

Due to its disruptive behavior, bitcoin can create a great deal of financial physical aggregation. This nature and outburst may cause financial bodies to lose control in managing the economy. There is no abstract nature attached to the bitcoin, making it market free. It has left it under no power or under no influence. This will result in central banking and government to lose its command and authority to manipulate supply and demand. It will power out the generation of money and control the interest rates. On average bitcoin challenges about 3.4 trillion dollars of the U.S based trusted services every year. Yes, we are talking about the trillions here. So how big do you think is the financial sector? Very big, right!

In other words, there is an unholy alliance invisible to majority citizens amongst the central banking and government. The political system and central banking depend on various levels on each other, supporting each other’s blacks and grays. Decentralization will make them lose their monopoly and hold over the system to benefit their causes too.

War- Expensive Hobby

A great perceived advantage to be accounted for is that bitcoin is anonymous. But is it really an advantage? It is concerned that it may be used for terrorism and crime. The world, if at war today would require a greater deal of fiat currency to fund military and to fight enemies. But what if the enemy is funded by the same mean? The globalization of the bitcoin will eliminate

  • bank freezes,
  • encrypted transactions
  • foreign transaction fees
  • the abundance of open resources
  • confirmed transactions

Government and central institutions and financial institutions need to make a lot of effort and strategy to keep the technology and its cons at bay. As the significant interests and welfares are increasing so are they economic threats regarding the mechanism.

Totalitarianism

A system that runs through the power and controls the resource distribution can hardly be in line with a decentralized system.

  • Democratic dictatorship
  • Socialism
  • Communism
  • Fascism
  • Welfare states

They are all under a great deal of threat by this abstract ‘bug-a-boo’ – Bitcoin.

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Latest Bitcoin Price Technical Analysis- Adjacent Resistance Zone:

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Bitcoin rate has been frequently consolidating due to the absence of main market catalysts so far.

Bitcoin Price Main Highlights:

  • Bitcoin price has cut lower highs and higher lows, generating a symmetrical three-way relationship on its 1-hour chart.
  • Price just rebounded off support and is due for a test or trial of resistance around $2600.
  • Technical measures are demonstrating that the resistance is more to be expected to hold rather than breakdown.

 

Technical Indicators Signals:

The 100 SMA is under the longer-term 200SMA so the route of minimum resistance is to the downside. The 200 SMA is adjacent to the three-way relation (triangle) resistance, providing it strength as a ceiling.  If it holds, alternative step to support at the $2500 area possibly will take place.

Market Influences:

Bitcoin value has been getting a benefit of dollar weakness just as financial data has been approaching in below expectation. Some degree of profit-taking is initial to kick in top up to the weekend, end of month, and quarter.

The digital-currency is also shrugging off damaging updates from the past in the month when stockholder Mark Cuban warned that bitcoin might be in a bubble and a Goldman Sachs expert also gave a bearish analysis. It should also be distinguished that some of Bitcoin exchanges experienced outages because of trading activity and high levels of traffic.

The mentality of people also tends to affect most of Bitcoin and digital currency arrangements as a huge amount of it is based on demand and speculation. It can involve another durable positive catalyst to produce constant rallies again. By this way, there is still a potential downside for Bitcoin value, specifically since risk-craving has been recurring to the financial markets. Commodities and stocks appear key for a bounce when uncertainties decrease. But, of course, there is also a possibility that geopolitical hazards might shore up another asset as Bitcoin once again in the end half of the year.

 

Image and Story Credit: www.newsbtc.com

 

 

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Virtual currency Bitcoin being split into 2: here’s what you need to know

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Everyone has turned skeptical on how to scale the bitcoin cryptocurrency since the chances of a “hard fork” have arisen within the market.

Bitcoin seems to be in a crisis and everyone in their community is suffering along with it.

Virtual currency Bitcoin

Stakeholders and developers stuck in a heated argument over “hard fork”

What is the issue?

Basically, Bitcoin is so well-known that it isn’t able to handle the weight of all the transactions. Transactions are processed in “blocks” that include complicated cryptography to verify and set. But, with the currency growing exponentially and the number of transactions increasing, the 1MB size limit of the block that is built into the system is becoming an issue, causing delays in processing transactions. Thus, purchases would take a long time to confirm.

The time taken for a virtual currency bitcoin transaction has been gradually increasing. The median currently sits at 13 minutes.

What are the alternatives?

The split is leading to two possible solutions: “Bitcoin Unlimited” and “Segregated Witness”. They obviously can’t exist together, they’re software updates to the bitcoin network that would change how it works. This “hard fork” would split the chain of transactions in two, producing another chain splitting from the original one.

 

BU vs SegWit

Starting off with Bitcoin Unlimited, you must understand the concept of bitcoin mining. Miners sift through and verify transactions using computers in order to get rewarded with newly issued bitcoins. Professional miners with computers having specialized hardware do the majority of the mining by performing mathematical tasks.

Miners are in favor of BU because it would give them control over the Bitcoin network.They would be able to increase the block size when required and effectively give them control to set the transaction fees.

On the other hand, to keep the cryptocurrency more decentralized rather than giving additional work to miners, bitcoin developers, and enthusiasts are in favor of SegWit.

SegWit would double the transactions per second capacity of bitcoin by juggling the makeup of transactions, stripping out some details such as signatures. It would also add some extra functionality, including possibly moving some transactions off-chain in a way that might not benefit the miners. This solution would keep control over the network dispersed (decentralized).

Although, SegWit is just a temporary solution. It only doubles the network’s bandwidth, while BU allows miners to vote to increase the capacity when required with no upper limit.

Who’s the winner?

It is possible that bitcoin value will fork and then the two opposing currency will co-exist and compete for users and legitimacy. It is up to the users to choose sides and it isn’t simple to predict the future of the BTC world.

What does this mean for the value of bitcoin?

Bitcoin is hitting high records currently and if the fork conflict’s solved in a timely and satisfactory manner, it would make the market even more powerful.

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