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Digital Currencies on the Rise

Bitcoin has been on the climb to sky-rocket since the currency split into two a week ago, with its total market value standing at around $55 billion, it seems as there’s no place the cryptocurrency would rather be.

It is now standing at $3260.80 per coin after experiencing it hit $3344 for the first time ever.

 

 

Bitcoin Cash, meanwhile, is back up 28% valued at $271.71 after its drop from $727 on August 2.

Trading platform eToro’s analyst, Mati Greenspan says Bitcoin Cash’s dip and Bitcoin’s surge are likely correlated.

Greenspan wrote in an email on Monday morning: “All that money that seemingly came out of thin air to pump up the value of Bitcash is now being fed right into Bitcoin. Bitcash has fallen from its peak of $12 Billion all the way down below $4 Billion this morning. Bitcash sought to replace the original form of digital money but the miners never embraced it. As it was seen by many as something for nothing, many users are now dumping.”

Related: Buy Bitcoin Online

This is how Bitcoin had performed last year, this proves that we’re now on record-breaking grounds.

 

News and Image Credits: businessinsider.com

 

 

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Ripple Becomes The Second Only Currency With A Market Cap Of Over $100 After Bitcoin

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January 3 proved to be a historical day for Ripple. The crypto became the only currency after bitcoin to have a market cap of over $100 billion. At the time of writing, the valuation of Ripple is ~$121 billion.

$19 Billion Surge In 24 Hours:

Ripple’s native token, XRP, went up by more than 24 %, taking the coins value to $3. The huge value surge saw the valuation of ripple go from $95 billion to $116. As a result, Ripple further distanced itself from the third top cryptocurrency, Ethereum, and solidified its spot as the second most valuable crypto after bitcoin.

The daily trading volume of XRP is vigorously amassed in the South Korean market. Korbit and Bithumb are handling 40 percent of worldwide Ripple exchanges, representing more than $2.2 billion of Ripple’s daily trading volume.

On Bithumb, the second biggest digital money exchanging platform on the planet situated in Seoul, South Korea, Ripple stays as the most exchanged crypto, recording daily trading volume that is three times bigger than that of bitcoin.

Despite being the biggest and most liquid Ripple trade market, XRP is being exchanged with a high premium inside South Korean digital money market. On Bithumb and Korbit, Ripple is being traded at $3.5, with a 12 percent premium.

Brad Garlinghouse, the CEO at Ripple, and responsible for the advancement of the Ripple blockchain network, expressed that the “genuine use case” separates Ripple from other computerized assets.

However, as with any other digital money, Ripple met with some criticism. On January 3, P4man expressed that the vision of Ripple to develop into Swift 2.0 isn’t reasonable because for Ripple to become a Swift-like network, banks will need to pick up control over it.

“As for the moonshot of replacing Swift; most importantly, I have doubts over a worldwide agreement protocol being the correct approach. Banks presently control Swift. How likely is it they would give up control to a little startup and allow themselves to become indebted to its private currency, that they have no need for?” wrote P4man for Coindesk.

Story credit: ccn.com

Image: Google images

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Bitcoin who’s who

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A number of individuals are directly involved in the acceptance of the Bitcoin around the world. There is a compiled list of folks, who make sure that Bitcoin is the future of the digital world. They admitted and make investments in the bitcoin.

  1. Satoshi Nakamoto (Father of the bitcoin)

A person anonymously created a worldwide cryptocurrency, and still, it is a mystery that who is Satoshi Nakamoto. A white paper introducing and describing the Bitcoin, published in 2008. Whereas, first Bitcoin software was released in 2009. But at the mid of 2010, Bitcoin software was conferral to the Gavin Andresen. Where the reason behind this act was the contact between Nakamoto and Bitcoin community getting fade. While other domains of the bitcoin were controlled by the other member of the bitcoin community. The rumor about Nakamoto is that he has one million bitcoins, cost over one billion dollars.

According to Bitcoin news, the identity of the real Satoshi Nakamoto is still a mystery. Some think that Satoshi is an individual while other’s think Satoshi Nakamoto is a name of a team.

 

 

Mark Karpelès

Mark Karpelès was basically from France. He was started investment in bitcoin in 2011. When he took the charge of Mt.Gox at 88% from Jed McCaleb. He is one of the founding members of the bitcoin foundation. This foundation was established for the promotion and standardization of the coins.

Unfortunately, in February 2014 Mt. Gox was declared as bankrupt. And, a mark was sentenced to the jail for a year. Whereas Mark declines the claim in front of the public.

Gavin Andresen

One of the successors of the Satoshi Nakamoto. He is the chief scientist of the Bitcoin Foundation. He is the person who holds the alert key which gives him the strength to send an important message to the whole community of bitcoin at once.

 

Roger Ver

Roger Ver is well-known as Bitcoin Jesus. He is an early adopter of this technology and invests millions of dollars into the new startup of the Bitcoin such as blockchain.

Ver is operating an online store to purchase or sell custom discounted transceiver, hardware and memory. In addition, he introduces the different designs module use in mining devices. Which became the mainstream business later.

Ver starts an online store and sells thousands of the product with bitcoin. This was another attempt to introduce bitcoin among the people. And, today there is a number of online and land-base store accept bitcoin as a payment.

Erik Voorhees

Erik is the advocate for bitcoin and move from place to place both in the US and out. Erik keeps all of his money in bitcoin and believer of separation of money and state.

Erik is the Coinapult’s founder. Coinapult is a company who transfer bitcoin through email and text messages process. In 2012, he founded a bitcoin gambling site named SatoshiDice, later this site for over 100,000 bitcoins. In addition, at that time site’s market value was $11.5 million. This was the bitcoin’s big achievement of that time. Whereas, he performed his duties as the director of the marketing at BitInstant.

 

 

Vinny Lingham

Vinny is the early adopter of the bitcoin, CEO, and founder of the Gift, Yola Inc, Silicon Cape.com and NGOs in South Africa. He also served his duties on the board of ChessCube, Yahoo, Personera and SkyRove. And, he was appointed to the board of the Bitcoin in 2014.

 

Ivan Montik

Ivan is the CEO and founder of Casino software provider SoftSwiss. In 2013, Ivan made bitcoin payments into the software and have seen an achievement in creating bitcoin casino.     

Perianne M. Boring

Perianne is the author of the Boring Bitcoin Report and also the president of the digital commerce. She is the first women within bitcoin who’s who. And, we believe that she will generate wonderful changes in bitcoin strategy plan in few parts of US by using her skills.

 

You can also suggest the bitcoin personality.

For further bitcoin information, check back on our blog to learn more. Goodluck!

 

 

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How to Buy Bitcoin – Is It Possible to Buy Large Amount of Bitcoin?

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How to Buy Bitcoin

With the start of 2017, a lot of investors appear to be keen on buying large amounts of Bitcoin. The traditional Bitcoin buying methods are not always suitable due to the limited supply of cryptocurrency and high transaction/deposit fees at most exchanges.

In this guide, we will explain how to buy Bitcoin in larger quantities (in excess of $100K).

How To Buy Bitcoin in Larger Quantities?

Wondering how to buy Bitcoin in bulk? You can buy it either through OTC exchanges or and traditional Bitcoin exchanges. OTC stands for “over the counter” and refer to individuals/companies that are willing to sell you Bitcoin without going through an automated or regulated trading platform.

What Are the Benefits of OTC Exchanges?

OTC exchanges have two major benefits over their traditional counterparts.

  • OTC exchanges own higher volumes of Bitcoin and fulfill your order faster as compared to traditional exchanges.
  • The exchange prices are negotiable.

Are There Any Disadvantages of OTC Exchanges?

Just like advantages, there are two major disadvantages associated with OTC exchanges.

  • OTC exchanges are less transparent. The buyers do not know exactly who they are dealing with or the volume they are supposed to trade. Their information is solely based on what they get from the seller.
  • The amount of risk involved in OTC transactions is pretty high as there are no regulations and the OTC sellers aren’t listed as money transmitters.

What Are Some Top OTC Exchanges?

There are several OTC exchanges around the globe. Some of the best exchanges to buy bitcoins are:

ItBit:

ItBit was founded in 2013 and is one of the most renowned OTC exchanges in the US. It provides Bitcoin for both small and large institutional investors.

Genesis:

Another leading OTC exchange. Over the last three years, the company has traded over 1.5 million BTC with the worth over $600 million USD.

Richfund:

Richfund is the largest Bitcoin hedge fund in the world. The company deals with market making, OTC trading, and mining operations. Richfund provides between 1000-5000 BTC and operates in Hong Kong, Korea, China, Cambodia, and Taiwan.

Something About Traditional Bitcoin Exchanges:

If you prefer traditional exchanges over OTCs to buy Bitcoin, you should consider going to the exchanges discussed below.

Coinbase:

The largest Bitcoin company. Coinbase operates both in Europe and the US and offers its users the opportunity to buy $10,000 to $100,000 USD worth of coins every day.

want to find out more about Coinbase? Read our guide on how to buy Bitcoin via Coinbase.

Bitstamp:

Bitstamp is the oldest traditional exchange around. Currently, the company sells 5,000 on average per day with the deposit fees as low as 0.05%. The fees may also go up somewhere between 0.25-0.1%, based on your trading volume.

Kraken:

Kraken is one of the very few companies that deal in Euro, British pounds, USD, Japanese yen and Canadian dollar. Similar to Bitstamp, Kraken also sells 5,000 BTC on average per day.

Conclusion:

Regardless of all the hype, Bitcoin is still in its earliest stages and the options to bulks of it are restricted. Nonetheless, the choices listed above should be more than enough to take care of this issue for you.

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What Are Some Sharp Strategies to Assemble Gold Bullion Using Bitcoin

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Bitcoin Mining

Bitcoin first came into circulation in 2009 – almost 8 years ago. During that short period, the Bitcoin has grown into an extremely strong currency. Currently, it is trading at values higher than gold in the market.

Those who have experience of the market would know that it’s a great time to accumulate digital currency and gold bullion on daily basis.

However, people who lack the experience of the market are going to find it extremely difficult. If you are new to the currency and looking for a way to garner gold bullion, here are some methods that you can use.

Start with Finding a Company That Sells Bullion:

finding a company that sells gold bullion is no big deal. Just do a simple Google search and several gold-bullion-selling companies will pop-up in search results. However, finding one that offers an incentive program to its clients can be a tough nut to crack.

While on the hunt, you should be searching for a company that offers much more than just selling gold. It should be renowned for selling quality products, selling billions in small grammage (1gm, 2.5gm, etc.).

Gold that is being sold must be 24 karat gold; which is the highest quality for gold products.

The advantage of an incentive program is that the company offers special commissions to the clients who refer people to the company.

Get A Bitcoin Wallet:

A Bitcoin wallet address is equivalent to having a bank account for cash. The difference is that it is only used to store bitcoins and make bitcoin transactions with other users.

There are several Bitcoin wallets available to users. Copay, Xapo, Green Address are few to name.

While choosing a wallet, look for a company that offers an offline vault to protect those coins. This is because storing Bitcoin is never safe and the wallet is always vulnerable to hackers trying to steal your digital currency. On the other hand, offline storage keeps your coins fully protected.

Don’t forget to read our guide on what are the safest Bitcoin wallets, and also how to secure a Bitcoin wallet.

Start Mining:

There are two ways of bitcoin mining – online mining and offline mining. Online mining is pretty simple as all you have to do is to join a bitcoin mining farm. However, there’s a danger that comes with theses farms: scammers.

The scammers falsely claim to have a mining form and invite users to join it. The sole purpose of scammers is to steal your coins. So be cautious while choosing an online form.

In offline mining, the user is required to buy a bitcoin miner which is a computer hardware. The computer is set up at home and the user is required to connect to the internet to start mining.

The coins mined through this technique are then automatically sent to his online bitcoin wallet.

Want to start mining? Learn how to set up a Bitcoin miner.

Lastly – Purchase the Gold Bullion:

Now that you have a permanent & easiest way to get bitcoins, you are ready to buy gold bullion. However, there is a specific way that needs to be followed to make the purchase.

The buyer needs to link his Bitcoin wallet to visa card which is offered by his bitcoin wallet company. The card is then used to purchase the bullion.

Good luck with your purchase.

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Bitcoin Criminals Are Using Bitcoin & Other Cryptocurrencies for Ransomware Payments

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As we already know that Bitcoin is the most popular cryptocurrency, complaints about Bitcoin are also growing rapidly. It’s been reported by many people that bitcoin’s transaction takes too long to get processed and it’s also very much expensive. Bitcoin Criminal use new hacking resources.

There are many indications that the currency is not going so well in favour of the underworld and the stories about culprits looking for bitcoin alternatives are not so new. The latest report by the forensic firm Chainalysis shows that the amount of bitcoin transactions that are related to the dark websites, where people frequently participate in criminal activities, has reduced by 30%.

The reason behind this huge drop is that many people are using bitcoin, and they’re only choosing to keep it, rather than spending it. However, Chainalysis counts multiple law enforcement agencies among its clients and also mentions the growing use of other cryptocurrencies like Zcash, Monero, and Dash.

bitcoin criminal

Fast and cheap transactions are not the only things that are offered by the new currencies, but they also include additional layers of anonymity that make them hard to track than bitcoin. Rob Wainwright (Executive Director of Europol), has also warned that this trend is already in progress. He also added that we’ll definitely see a progressive change in 2018 towards the criminal use of cryptocurrencies other than bitcoin, making it even more challenging for the law enforcement to counter.

A report by tech site ZDNet also shows that many researchers have claimed that slow transactions and high fees are causing culprits to move to Monero. ZDNet writes that it’s expected that soon, culprits will be also providing instructions to their ransomware victims on how to buy and exchange Monero. It’s been also reported that many companies have started to buy amounts of bitcoins so they’d be ready to pay up if they’re hit with ransomware.

While criminals are trying to turn away from the bitcoin for regular transactions, there’d be still very less chance of finding out if they’ve actually lost their interest in it or not. According to a report by Chainalysis, culprits might not want to use bitcoin, but they’d definitely want to steal it.

According to Chainalysis, theft of bitcoin has increased from at least $3 million to $95 million from 2013 to 2016, adding almost $172 million worth of bitcoin between the 2013-2017.

Image Credit: thehackteam

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