African/Asian Forex broker: https://bit.ly/321Crwe
World Wide Forex broker: https://bit.ly/3D5PbUJ
World Wide Stocks Broker: https://bit.ly/35gans2
World Wide Cryptos Exchange Platform: https://bit.ly/3kbOoZY
The bull run of Bitcoin has introduced the advantages of using Bitcoin in general and blockchain technology to even a wider audience around the world. In fact, the market capitalization of Bitcoin has increased and reached a market cap of $665.83 billion in 2021.
Furthermore, the price of Bitcoin has continued its upward trend in 2021 and peaked at $40,000. Many experts feel that the price will keep growing and hit $100,000 by the end of 2021.
Considering the fact that this is the longest bullish cycle of Bitcoin, the number of institutional and individual investors has proliferated. But, if you’re new to the world of crypto and you’re wondering what the advantages of Bitcoin and blockchain technology are, keep reading.
A key element of Bitcoin is that it is a decentralized cryptocurrency that is used for online transactions without regulation or control by a central authority. This is the main difference that distinguishes Bitcoin from other traditional currencies. When it comes to blockchain technology, even though it’s sometimes used interchangeably with Bitcoin, it is actually the innovative technology that powers the cryptocurrency.
Without blockchain technology, the rise of cryptocurrencies would be impossible. Blockchain technology is a decentralized, immutable ledger of records that are distributed over a cluster of computers around the world. Some of the main attributes of the blockchain network are instant payments, anonymity, transparency, and a higher level of security. Actually, the blockchain system is regarded as a tamper-proof system.
This is a primary draw of Bitcoin that allows anonymity to its users. This is otherwise not an available option when you’re using fiat currencies. When you have a Bitcoin wallet, it automatically stores your public and a private key that is used to sign transactions, while the BTC wallet address is hashed version of your public key, which is used for receiving payments. This means that when you make payments using your Bitcoin wallet, it can’t be associated with your identity.
In the beginning, there weren’t many platforms where you could buy and sell BTC. Of course, now we have a different reality. There are many reputable online trading sites that allow you to invest in BTC from your desktop or mobile device. For example, Bitcoin Circuit is an exchange platform that is accessible on smartphones, tablets, and computers. So, you can easily trade on the move if you want to.
If you’re wondering how Bitcoin Circuit works, it actually uses AI technology to read data quickly and at high speed. And because this is an auto-trading platform, you don’t need to spend hours on the site. The robot completes the trading for you, and you only need to spend on average 20 minutes per day on the platform. Otherwise, you can make up to $750 a day here, with a deposit of $250. This is the minimal amount that you need to deposit in order to trade here.
This is another reason why Bitcoin is appealing to many users. The transactions fees are quite low, especially for international payments. So, for a lot of users that want to make cross-border payments, it is very appealing to invest in BTC and use BTC for international transactions.
And as we mentioned before, the authorization of the payments happens almost instantly, and on average, it takes only 10 minutes for the transactions to be processed on the blockchain network. Hence, people who have cryptocurrencies for cross-border payments are at an advantage here.
As a lot of people find it useful to invest in BTC and other cryptocurrencies, many businesses also want to make their products and services available to a new audience that uses BTC. Also, this is another advantage for small business owners that can’t invest in BTC, but with the option of accepting transactions in BTC, they will have a chance to obtain Bitocin by exchanging their products and services.
The process is simple, and like individual investors, they need a secure Bitcoin wallet. So, today there are about 15,000 businesses across the globe that accept payments in BTC, and the number continues to rise. Some big brands include Microsoft, Shopify, Etsy, Subway, and many other companies. It’s also worth mentioning that non-profit organizations are also supporting Bitcoin.
In conclusion, thanks to the increased support of retail and institutional investors, the price of Bitcoin keeps rising. But, also the great number of companies that accept BTC payments means that users have more choices when they want to purchase goods and services. This business support will certainly drive the mass adoption of Bitcoin and other digital cryptocurrencies around the world.
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Passfolio is an international Stock and Crypto broker company that was established in 2018 and based in San Francisco, USA. Passfolio gives room for no conflict of interest and it guarantees optimum transparency because it operates using the STP execution model. It is safe to trade with Passfolio because they are registered under the SEC as a broker-dealer.
Although they are based in the US, they allow people from more than 170 countries to invest and trade in countless financial instruments through different asset classes.
While using the base crypto coin, the asset classes and instruments their clients can invest in include REITs, ETFs, crypto and stocks. For easier trading of their clients, they provide a wide range of educational materials and an exclusive trading platform which is offered as a mobile app. In case of any problem, their qualified customer support team is always available to guide traders in every step. This makes it easier for beginner traders to use.
This is a complex Passfolio broker review that will discuss important factors that traders should consider before they can choose a forex broker for investment and trading. Some of these key factors include trading tools they offer, their trading platforms, customer support, account funding and withdrawal options, availability of research and education materials and broker regulation.
1. Availability of educational resources
2. Fast account creation
3. Trading using their web-based platform
4. Presence of multiple financial instruments
5. Intuitive mobile trading interface
1. No CFDs
2. Restricted leverage
3. No separate trading tools
4. Restricted product portfolio
5. Cannot be used on MetaTrader trading platforms
Passfolio provides a trading platform which is designed for their clients to trade and they have no separate trading tool on their website presently. They designed this trading platform as a mobile application and made it available on both iOS and Android devices.
While iOS devices users can download the Passfolio app from AppleStore, Android devices users can download the app from PlayStore. The app is very convenient because traders can place trades and keep track of the trading positions anytime and anywhere. This makes it suitable for all levels of traders including beginner traders.
Some of the features of their mobile app include the opening of an account, funding of accounts using different funding means and start trading after depositing a minimum of $100 with no charges.
According to Passfolio broker, they are available in every country and location where trading is legal. This means that using the broker in locations where it is illegal to trade is at trader’s risk.
However, there is no authority for the use of Passfolio security services in Brazil. Some of their clients in other countries may also found it difficult to use all the features of the platform due to legal restrictions in their countries.
Passfolio is the trademark of Panchain, Incorporated. However, Panchain, Inc. has two subsidiaries. One of which is the Passfolio Securities while the other one is the Passfolio Financial LLC.
This broker is regulated by SIPC and the FINRA because they are registered under them. They are also registered under the SEC as a legal broker. This means that Passfolio is working under legal regulation.
Passfolio traders have access to a wide range of educational materials that will help them boost their trading knowledge. Also, these materials will help traders stay updated about the factors that affect the trading market. Passfolio offers different research and education materials and videos which include trading guidelines, trading blogs, articles and many other related materials.
Passfolio offers attractive fees because it is free to trade all assets but not crypto. This is only true of trades above $5. However, if you are trading below $5, they will charge you 0.02 dollar per share. Passfolio collects no account running fee but they do charge a small amount for their withdrawal.
Although this is uncommon in the broker world, this fee pattern of Passfolio makes it appropriate for beginner traders. Passfolio also charges no fee on ETF, stocks, ADRs and REITs.
For their crypto, Passfolio charges no fees on opening, running and closing of accounts. In contrast, ACH withdrawal attracts 0.25 dollar. Wire transfer within the US costs $25 and $35 for global transfers. For the Brazilian TED transfers, the total charge is calculated as RBL 2.00 + 0.38% IOF + 1.2% conversion fee. The general withdrawal fee is manageable.
Account creation is superfast and easy when using a mobile device. Since everything is digital, verification time is just 15 minutes when done on a smartphone! However, you may experience some problems if you are doing the verification on a desktop computer.
After creating the account, no amount is too small to start trading. This also means that you are not paying for account creation. Follow this step to open an account –
Visit your respective device store to download Passfolio mobile app. Launch the app, click on Get Started and choose your preferred language. Fill in your details and answer the questions provided – on your income level, investment goals and employment status. Scan and upload your ID and send a selfie of your face with your phone camera. Visit your email, verify and your account is ready.
The login feature is secure and people can customize their login from their settings menu. There is an obligatory biometric verification for every account upon each login. Additional verification is the second-factor authentication that is compulsory for every user during registration and is through SMS. This is only possible through the phone number and it can’t be deactivated. With this, the app offers a very strong level of security to its clients.
Since everything on Passfolio is simple, Passfolio offers only one size that fits all accounts. Although they offer only one account type, they separate their crypto accounts from their stock accounts. As a general trader, funding is done separately because there is no corporate account on Passfolio.
To trade crypto on passfolio, go to the search page, assets or watchlist and choose crypto. Tap trade and choose either buy or sell. Depending on your choice, choose between Limit Order and Market Order and the amount you want to trade (in USD or number of crypto). Review the information again and slide the bottom bar to finish your order. For crypto traders, there is a charge of 0.5% price spread on the order amount – 0.99 dollars for orders below 10 dollars; 1.49 dollars for 25 dollars below; 1.99 dollars for 50 dollars below, 2.99 dollars for 200 dollars below and 1.5 dollars for above 200 dollars.
There are no charges on stock trading of above 5 dollars on passfolio. However, there is a charge of 0.02 dollars on trading below 5 dollars per trade. Stock opening, closing and maintenance are all free on passfolio too. You can invest in Apple stocks, Facebook stocks, Tesla stocks, XP Inc. stocks, Natura stocks, Stone stocks and Playboy’s IPS on passfolio with no commission fees. All you have to do is to create an account, download the app, fund your account and start investing in your preferred stock.
What makes passfolio broker unique is that it is possible to trade and fund your account with crypto through Passfolio Financial. With their Passfolio Financial, users of passfolio can deposit crypto coins into their accounts and convert them into dollars. They can then use the dollar to buy stocks at their brokerage accounts at Passfolio Securities. This way, investors and traders can deposit BTC, ETH, BCH, LTC and other coins accepted by passfolio broker to access the US market.
It is also possible to transfer funds from one account to another such as from your crypto account to your stock account and vice-versa. From your account, go to transfer and select “Transfer Stock to Crypto” or “Transfer Crypto to Stock.” Choose the amount, press continue, review your transfer information and slide the bar below to submit. Your transfer will be completed within 3 business days.
Clients using Passfolio enjoy an advanced security level because Passfolio is controlled by FINRA and SEC (highest broker authorities). However, since Passfolio is still young in the brokerage industry, it has no finance certificate yet and it is not guided by strict regulations. Its investor protection level is high but it is yet to be recorded on the stock exchange. Another con is that they do not display their financial information openly.
There are three channels Passfolio clients can communicate with them – live chat, email messaging and phone service. While they reply faster through email (respond within 20 mins.), their online is rather slow and their phone service is nearly not in existence. They do not offer an all-day support and they provide relevant responses to questions.
Passfolio is a start-up brokerage company with an attractive fee structure. You will be paying no fee for trading above 5 dollars and also for depositing and preserving your account. The usage of this mobile application is easy to use and it provides a faster verification process.
Conversely, Passfolio delivers a limited number of products. All their traders will trade on US markets only. Depositing into accounts is difficult and withdrawal comes with price tags. All their clients have access to educational resources and explainer videos. Passfolio is the right platform for non-US traders who need a great platform to trade in US markets.
Want to register and become a share holder in the US companies like the likes of Tesla, Amazon, Facebook, Apple?
Signup for an account here https://bit.ly/2MY61Q2
What is the solution to crypto trading ban in Nigeria? This was the trending question all over the internet by crypto enthusiastic in Nigeria after the Central Bank of Nigeria disseminated a piece of information from its Twitter page on the 5th of February 2021 warning all financial institutions to stop partaking in the exchange and purchasing of crypto coins. This significant ban on crypto was disseminated in the circular stamped with the CBN emblem in addition to signatures from two highest CBN leaders.
In the circular, instructions to classify and close the accounts of organizations and people who use their accounts to trade cryptography were sent to Nigerian controlled financial institutions. The circular seeks to bring legal action against financial institutions who are not in accordance with the order. See what is written in the circular from the image below –
Since the ban came suddenly, many people who are into crypto trading and the financial institutions are shocked. According to verified sources within the institution, there was no announcement beforehand even though many have been expecting such a regulation in the future and not so sudden.
The sudden ban of crypto is one that does not follow regulatory practices – such practices where investors in the industry will be contacted before banning their service. A sudden ban like this happened to Chaka WealthTech corporation in December 2020. All what the company saw was the news publicizing the ban; they were never informed beforehand!
One of the main pros of BTC and other crypto coins is that they can’t be controlled by the government or any individual regulation. Since this will always be true, the ban of crypto is to restrict the way people transact the coins through the financial institutions in Nigeria.
However, this is to prevent institutions dealing with money deposits in banks (DMBs), the institutions dealing with deposits without banks and related monetary bodies in the country from making transactions on crypto and also stop dealing with crypto coins in general.
In addition to this, the circular orders all financial institutions to detect and close all the accounts of people or groups who are transacting in crypto under them. Many online payment platforms such as Paystack partnered with these monetary organizations to make transactions easy for Nigerians. Their partnership with these financial institutions makes it easy for them to process debit card and direct bank deposit transactions. However, this is no more possible according to what is released in the circular. This simply means that the CBN is trying to stop fueling the crypto platforms.
An example of this ban is that of gold. Since the CBN cannot produce gold, they stop all financial institutions from dealing with gold and prevent their customers from buying gold. As for crypto, people cannot own it if they find it difficult to buy and sell.
Although we need to identify the reason behind the ban in order to find a solution to it, CBN doesn’t have any reason shown to the public that leads to the ban. All they wrote that provides a hint about the ban is that all financial institutions are warned and prohibited from dealing in crypto exchange and helping in the processing of crypto exchange fund payments.
This statement refers to a circular that was once released in January 2017. In the document, CBN had cancelled all regulated monetary institutions from dealing with digital currencies in any form. Here is 2017 circular –
Bitcoin and other crypto coins claim to be a decentralized P2P payment system that is not controlled by any central agency but by the power of its users. The main reason why the government is scared of this currency is that it lacks central authority. The government can easily control the fiat currencies and they use monetary strategy to issue or destroy money anyhow.
They also issue orders on how the currency is moved, trace illegal activities, gather taxes from the people and dictate who profits from the currency. All these are lost once a non-government organization creates another currency.
With the intense tension in Nigeria now, Nigerians are still waiting to see how the implementation will go in the country. If this finally happens, it will be very hard for Nigerians to get their funds in their Nigerian bank accounts from their respective crypto platform accounts.
While this does not mean that those trading crypto are criminals, it thus makes it harder for everyday traders to own and trade crypto coins. This is not the right step in a digital world where many countries are looking for different ways to enforce cryptocurrencies on their citizens. This simply means that the CBN has drawn the country back several years ago!
Ever since the restrictions on crypto platform transactions, Nigerians have been wondering whether the CBN understands the effects of crypto on traders. This ban now shows that the local crypto industry will be facing serious inspection moving forward. With their success in the year 2020, it is expected that local crypto trading groups will soar higher this year. But with this new circular on the crypto ban, they will put their plans on hold and look for ways to battle the new restriction.
No matter the power of any top financial organization in any country, it is not possible to ban the existence of crypto coins. Since this is not possible, it isn’t in the circular. This is just like their inability to place a ban on the dollar, pounds and euro. Conversely, the action CBN took is to make sure that their regulated financial organizations no longer partake or process cryptocurrency trades for their customers.
For now, the only solution for crypto trading to continue in Nigeria is to start using the Peer-to-Peer (P2P) transaction system. Since there is no ban on owning crypto in Nigeria, this means Nigerians can still acquire crypto and trade it among each other without any issue. This will only be possible if the financial institution they are using for payment doesn’t know the reason behind the payment.
This type of transaction system has always been in existence and it’s a more used system than the centralized, fiscal institution or other crypto exchange platforms. One feature of crypto ownership is its decentralized nature. This means that people can always transact it among each other without involving any exchange platform.
Since it is only through the centralized exchanges that it is possible for CBN to regulate crypto well and they didn’t cut that off yet, Nigerian traders can still use that for now. Alternatively, the sudden reappearance of this type of trading system will lead to increase in crime rate and fraud among crypto traders in Nigeria.
To prevent this from happening, crypto traders can turn to the use of the Paxful platform or by turning to local crypto companies for their crypto exchange. These companies will have to design different P2P platforms where crypto traders will register, get verified and start selling to other traders on the platform.
An example of this platform is Paxful and Nigerian traders can move there to exchange their BTC and other coins into Naira equivalent into their bank accounts.
A simple scenario of the P2P transaction system is where the Trader A sends their crypto coin to the escrow while the Trader B sends the naira corresponding of the crypto amount into the bank account of Trader A. After confirmation from Trader A, the escrow sends the crypto to the Trader B. Apart from Paxful, Remitano is another leading P2P platform. In Nigeria, Paxful and Buycoins are recommended for some smooth P2P transactions.
The current crypto ban does not mean it’s the end for crypto traders and startups. Many traders have awaited and prearranged for this to happen one day. Although they have planned many options after this happens, none of these options is easy for them to explore.
As a creator in Nigeria, nothing is easy to create and maintain in the country. Early communications between these crypto exchangers and their customers have sued for calmness. They have notified their customers that they are communicating with crypto regulators to resolve the issue on ground.
On the same day of the release, Quidax and BuyCoins notified their customers about their activities to ensure the smooth running of their respective platforms despite the current CBN embargo on crypto. Since this ban affects wallet funding, all the affected platforms are already looking for different ways to see the smooth running of their platforms while improvising their deposit methods.
You can always go about your crypto trading effectively as before; the only thing that changes is that you will no longer have to withdraw to your bank account directly. Now, you will be using the P2P exchange system for the exchange. You can use Paxful and other local crypto exchangers for your crypto trading.
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Bitcoin is currently at the top of its game.
Bitcoin is currently at the top of its game. The popular cryptocurrency is miles ahead of its competition and reaching new successes every day.
Of course, all of this is a result of the progress Bitcoin has achieved over the years. It has not always been easy for people to get their hands on the cryptocurrency, and neither has been using it.
Thankfully, Bitcoin has grown significantly since its early days, and now offers a tonne of new features that users can take advantage of. These days, using it is a much easier task than it was back in the day, and if you are wondering which parts of this can work in your favour, here are the things you should keep an eye out for.
Information Is Everywhere
While it might seem a bit strange to talk about something like this in the age of the internet, information about Bitcoin has always been a bit of a sore subject. When it first came out, most people were unfamiliar with cryptocurrency and block-chain technology.
The mystery about this tech stuck has been around for quite a while, which led to people coming up with their own theories on what it was and what it could do. Unfortunately, a lot of what they had to say about it was negative, which did not work out well for the cryptocurrency’s reputation.
Thankfully, this is no longer the case. While it might have been very hard to for most regular people to enter the world of Bitcoin back in the day, nowadays it is a breeze.
Finding out everything you need to know about Bitcoin and more is just an internet search away, and even better, most of the information is extremely helpful. You can find anything from tips on how to get more of it to where you can find the best Bitcoin-friendly shops. Use this to your advantage and learn as much as you can before setting off on your next venture.
The New Approach to Trading
If there’s one thing we know about Bitcoin, it’s that it has immense money-making potential. Of course, to make the most out of it, you’ll need to learn a thing or two about trading. While this activity could be pretty challenging in the past, things couldn’t be more different now! Thanks to the introduction of Bitcoin trading platforms like the Bitcoin Rush software, everyone has a chance to make it big with it. This software offers its users an incredible array of tools to get them started on their Bitcoin trading journey and point them in the right direction.
The main thing trading platforms have to offer users is neatly packaged info. Newbies can find everything they need to get started without the headache of going through hundreds of pages of heavy reading. On top of this, Bitcoin trading platforms also offer quite a few helpful features to maximize your earning potential. One of the most popular features you’ll find on these platforms is the option to automate the trading process! All you need to do is set a few adjustments that you think will work best and leave the rest to the AI trading robots!
A Variety of Ways to Get Bitcoin
If you’ve been involved with Bitcoin for a long time now, then you probably remember that there were fewer ways to get it back in the day than there are now. In the beginning, the two most popular ways to get your hands on Bitcoin were trading and mining. While we can’t refute that these are excellent methods when it comes to getting it, it’s safe to say that there are many, many more methods available right now.
The cryptocurrency has made it pretty easy for both newbies and veterans to find ways to earn it through different means that best fit their needs. A great example of this is the recently popular Bitcoin games trend. The method of earning it through playing games is perfect for users that would rather stay entertained while slowly building up their savings. Sure, the games might not be on par with some of the classics we all know and love, but they’re a great pastime that comes with a reward!
Another great example of Bitcoin adjusting to fit the needs of its users is the Bitcoin freelancing trend. For those that aren’t big fans of the risk that comes with Bitcoin trading, this option is a great alternative. Freelancing doesn’t differ much from classic freelancing. The only thing that separates them is the currency used in payments. Users can complete different tasks for payments, which are perfectly adjusted to the amount of effort the work requires.
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How to choose the best Bitcoin Exchange is one of the most important tasks in your journey to trading or investing in bitcoin. The wrong bitcoin exchange might hinder you from hitting your financial goals as planned, and it might also not allow you to enjoy the process. There are many bitcoin exchanges today, including great ones …
Choosing the right bitcoin exchange is one of the most important tasks in your journey to trading or investing in bitcoin. The wrong bitcoin exchange might hinder you from hitting your financial goals as planned, and it might also not allow you to enjoy the process. There are many bitcoin exchanges today, including great ones like the bitqt official. However, while looking for the one that suits you best, there are certain things you must look out for to be certain that you’re on track. This article highlights some of these things you must consider.
The cryptocurrency industry is still relatively new, which means there are constantly new apps on the rise. The first thing you must look out for is the reputation of the exchange. You can confirm this by running quick research online to see what they have done so far and what other people are saying about them. Look into their terms and conditions and how they operate. How do they intend to manage and keep your funds safe? How they operate must be transparent enough such that you can easily explain to someone else how it works. If you’re unsure of their reputation or how they intend to help manage your funds, you should consider another option.
Bitcoin scams are on the rise and the first quarter of 2020 recorded $24 million lost in scams. The decentralization of bitcoin makes it impossible to reverse transactions, which is why you must take security seriously. Check the security methods used on your preferred bitcoin exchange and ensure it offers two-factor authentication to meet today’s cybersecurity standards. Also, check for the level of anonymity the exchange offers and if you are comfortable with it. While bitcoin allows for some user anonymity, you also want to ensure you are giving out only the required details.
Each exchange has its functionality and features but there are however key things you must look out for. Check the trading features and functionality of the app to be sure it suits your level. Some apps might have certain features that can only be understood by expert traders but might get you confused if you’re a beginner. Confirm if the exchange can manage the transaction you want to perform and this includes checking if your credit card is accepted, if they trade the cryptocurrency you intend to trade in, and other important things to ensure you have a great experience.
The fees are also important. While every exchange would require fees to complete transactions, you want to be sure you’re not paying more than you should. Always compare prices and check for hidden fees.
While choosing your bitcoin exchange, have options available and compare their features, functionality, and fees. More importantly, ensure they work in your geographical location and have your preferred payment methods. The goal is to make trading or investing in bitcoins easier for yourself and it starts with your choice of a bitcoin exchange. The tips shared in this article are a great way to start when making a decision.
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As you might have guessed, the thing people love most about Bitcoin is the money-making potential it carries.
Bitcoin is a global phenomenon that no one saw coming back in 2009. The cryptocurrency burst into the scene out of nowhere and instantly had people talking about the exciting new opportunities it brought with it. It’s safe to say that Bitcoin has had a bit of a rocky trip to get to where it is now, but the benefits of using it have prevailed, and it’s now a trend most people can jump aboard. As you might have guessed, the thing people love most about Bitcoin is the money-making potential it carries. Everyone wants to stack up a few coins and live a life of luxury, so if you’re looking for an easy way to get your hands on some, here’s what we recommend.
Play Bitcoin Games
Video games have been around for a long, long time now, and like Bitcoin, it seems that everyone’s a fan of them. The hobby that was once considered the go-to choice for the geeky bunch is now an activity that everyone can enjoy, and with good reason! Video games today are much different than they once were. They’re more immersive, complex, and a lot more varied. There’s a video game out there that’s perfectly tailored to anyone’s tastes right now, so it’s no surprise to see video games specifically made with Bitcoin enthusiasts in mind!
Bitcoin games bring a crypto twist to the classic video game hype. These entertaining browser games combine the old-school arcade theme with the world of crypto and reward players with high-quality entertainment and Bitcoin! It might seem unreal to some, but Bitcoin games do hand out Bitcoin as a reward for progressing through the levels. These amounts might not be too hefty, but if players spend enough time playing these games, they might end up with a decent amount of Bitcoin for an online shopping spree!
Use Bitcoin Trading Platforms
Pretty much every Bitcoin enthusiast knows that Bitcoin trading is the best way to make a hefty profit with cryptocurrency. While the Bitcoin trading process might sound scary, it’s never been easier to try it out. Of course, the main reason for this is the rise of excellent trading software like the Bitcoin Pro platform. These apps are the perfect combo of information and action that give both newbies and veterans a chance to dip their toes into the trading market and start earning some revenue!
Bitcoin trading platforms often come with neatly packaged information that anyone can understand. These simple instructions are more than enough to propel anyone into action while giving them enough knowledge to navigate the trading market. Of course, the real stars of Bitcoin trading apps are the helpful features they boast. A fan-favorite among many is the automated trading feature! Thanks to the implementation of advanced AI trading robots, users only need to make small adjustments from time to time and let the app automatically pick out the best opportunities available!
Complete Surveys for Bitcoin
Here’s a blast from the past you might not have expected to see on the list. Bitcoin freelancing has gotten a lot more popular lately, and just like in the early days of the internet, taking surveys is dominating! You can find a range of websites offering users the chance to be rewarded with some Bitcoin for filling our surveys. The task is quite simple, so you shouldn’t expect to get paid extravagant amounts. The good news is that filling out these surveys usually takes between 5-30 minutes, so you can get a lot of them done pretty quickly if you want to cash in.
Become a Website Tester
Here’s another one that technically falls into the Bitcoin freelancing category. Like the previously mentioned task of filling out surveys, testing out websites is also pretty easy. Unlike filling out surveys, however, this gig usually pays a bit more. Website testing is a pretty popular gig across multiple Bitcoin freelancing platforms and doesn’t require any particular skills. In essence, the job entails visiting a random website and reporting your user experience with it, including bugs found on the site, slow loading sections, and even personal opinions on design and placement.
The completion time for website testing is pretty varied, so while some jobs may only take a few minutes, others could have you busy for much, much longer. It’s good to keep in mind that with website testing, details matter. The person who ordered the task will most likely use your report to improve their website in many different aspects, so keeping up with current web design trends, basic UX knowledge, and color theory might help you score more gigs.
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Many people have asked whether bitcoin can replace the US dollar as the world’s global currency.
Humans have always created a form of money to serve as an exchange for goods and services. People have used rocks, metals, paper bills, and gold as money. Now, we have bitcoin as a digital currency picking up pace. Many people have asked whether bitcoin can replace the US dollar as the world’s global currency. First, what are some of the features that money should have? They are:
The US dollar has been a predominant and well-recognized currency for over 100 years. This currency is one of the most traded fiat currencies. Before the second world war, gold was the standard for all the currencies on the globe. The establishment of the International Monetary Fund (IMF) and the World Bank and other factors saw the rise of the US dollar.
When the economy is unstable, many individuals want to place their financial resources in a reliable currency. People all over the globe recognize the US dollar as such kind of currency. They are confident that the dollar will maintain its value even when their local currency drops in value. Large corporate institutions and Government authorities also invest in the US dollar. The dollar has remained at the top because of America’s core role in global issues and the robustness of its economy.
An anonymous person or group of persons under the name Satoshi Nakamoto created bitcoin in 2009. Bitcoin is the world’s first cryptocurrency. Bitcoin is not physical money. It works on blockchain technology. Digital currency uses peer to peer technology to facilitate payments and transactions. Like how central banks pump money into the economy, people mine bitcoins to bring it into circulation. The maximum number of bitcoins that can come into circulation is 21 million BTC. Unlike fiat currencies like the dollar, bitcoin uses an algorithm to pump coins into circulation. The introduction of bitcoins has triggered the rise of other types of cryptocurrencies collectively known as altcoins. A well-known altcoin is Ethereum.
Before bitcoin can replace the US dollar, it has to step up in some areas.
Regulation: The US dollar is under the firm control of an organized government. The same thing cannot be said about bitcoin. Bitcoin is a decentralized form of currency under no one’s control. While we don’t know if bitcoin can get regulated in the nearest future, governmental control has taken a blow with bitcoin on the stage.
Volatility: A currency has to be a stable medium of exchange of goods and services. The US dollar has performed excellently well in this sector. Individuals and corporate institutions have been able to use it for standard trading and transaction. Unfortunately, Bitcoin is yet to attain this level. The extreme volatility of bitcoin has been bad for business. A typical example of this occurred in 2017 when bitcoin rose from about $900 to about $20,000, with a climb of almost 2,000%. People who had bought bitcoin before such a rise will be happy with this rise. Conversely, the cryptocurrency saw a solid crash when it went below $3,500 in late 2018. By 2019, bitcoin rose to about $10,000 in the middle of 2019.
These extreme fluctuations reduce the ability of bitcoin to serve as a medium of exchange. The US dollar also had periods when its value changed due to inflation and unforeseen economic circumstances. However, its price fluctuations can be so low that most people don’t notice sometimes.
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Store of value: Most economic scientists believe that bitcoin has not fulfilled all the criteria to serve as a value store. However, Bitcoin has done well in this area for a couple of reasons. It is scarce, as only 21 million units of bitcoin will ever be in existence. Bitcoins are also portable as you can carry them around within a hot or cold wallet. Also, it is divisible into smaller units. However, the cryptocurrency has no intrinsic value. Bitcoin has no value outside the blockchain network. If the internet is down, the cryptocurrency has no real-world business applications.
Furthermore, bitcoin can only be seen as a measure of value when people are ready to spend it actively. Most people keep their bitcoins as an investment instead of spending them. People who don’t understand blockchain technology are scared to convert their hard-earned cash into bitcoins. As long as this continues, bitcoin cannot overtake the US dollar.
It is not advisable to write off bitcoin. The cryptocurrency has the potential to replace the US dollar. However, it has to make improvements in certain areas. Its extreme volatility is one major problem. No one knows what will happen in the nearest future. Whether Bitcoin will replace the US dollar or not, time will tell.
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