Is Cryptocurrency a Good Investment?

While the current era has already witnessed specific drastic changes and inventions in the field of technical advancement, the ushering popularity of cryptocurrency is undoubtedly taking the world of currency by storm. Most of us, though, prefer choosing cash for a safe and secured economy, there is a whole range of investors who are currently solely running behind these digital currencies.

Now, the question arises whether investing in these digital channels are safe or beneficial. Well, the answer will naturally differ from person to person. If you try to interrogate a crypto investor, then he would undoubtedly go for a supportive statement and chalk out the disadvantages of using cash nowadays. Recent upsurges are also prevailing, stating that the value of Bitcoin has established the sphere of cryptocurrency as a successful investment. This is absolutely going to have a positive impact on the banks of crypto investors.

While we are aware of demonetization and low-interest rates of cash in the current phase, many of us still aren’t supportive of digital money, right? But if you are planning to go for a big investment in the genre of cryptos, then you would certainly scroll through the sites for some benefits of digital currency. After all, a significant investment requires trust and security more when money is included.

So let us make a journey to the beneficial globe of cryptocurrency and see whether it will make digital currency an alternative form of financial trade.

Why should you choose cryptocurrency?

  1. Transactions: secure and confidential- The first thing that strikes our mind when we are thinking about investing in commercial trade is a secured transaction. Cryptocurrency involves an operation that works under one to one affairs, functioning on a peer to peer networking structure. This results in greater clarity in securing audit trails and also paves a clear path for the users.  Cryptocurrencies also safeguard your account’s privacy, which prevents you from being victims of hackers and frauds. What else is needed when both the parties involved in a financial firm have a transparent account that is, at the same time, confidential to the third parties?
  2. Accessibility to credit- Cryptocurrency possesses a structural ecosystem that enables billions of users to make asset transfer and transaction to the willing consumers, that too in the safest ways by hiding their financial history and identity. This is undoubtedly good news for the upcoming investors.
  3. International trade- International financial trading, though a dream to many, was never so easy before the introduction of cryptocurrencies. By their features and policies, digital currencies have successfully made their way to exchange and interest rates, transaction charges, and other levies or legal norms imposed by a foreign country.

Besides, with several features like adaptability, robust security, individual ownership, and clear usage rules, we cannot deny that cryptocurrency will be a beneficial punch to the pockets of dreaming investors, who want to mark their names in the world of digital currencies.

How does Cryptocurrency Work?

If you want to learn about the various functioning and usage of cryptocurrencies, then we assume that you are already well aware of the benefits of the world of cryptocurrency. With adequate security, smooth transaction, tight privacy, international trade ways, and many more features that are currently attracting millions of investors, it will be justice to claim that cryptocurrency is definitely a ruling a part of the digital world.

If you want to try out investing in cryptocurrency or wish to become one of its users, this is the right place you have scrolled into. As a beginner, you will get a chance to know about the primary usage and working methods of the digital currency, which is not as simple as using cash in our daily lives. But once you are well aware of the norms and policies and functioning procedure of cryptocurrencies like Bitcoin, Zcash, and others, benefitting your bank and pockets with the ever-evolving positive hypes of crypto will be smoother.

The usage of cryptocurrency explained easily – From the scratch:

As a new user, let us guide you to the ways of opening a crypto account. First, start setting up a Coinbase account or download the Cash App to commence further procedures. It is as simple as opening an account at your nearby bank. For both Coinbase and Cash App, the users can purchase, sell, send, receive, and store various digital currencies.

Things to know:

To use cryptocurrency, you just need to understand the concept of digital blockchain and cryptography. It doesn’t involve going through the details of each step like that of a debit or credit card. As cryptocurrency is a digital currency where national and international transactions are recorded on a public platform, the users need to understand the facts and procedures to ensure a secured operation. This eventually leads to a successful financial trade.

How it works:

An easy and secure transaction is the foremost aim of creating a crypto account.  Transactions occur between peers using software called cryptocurrency wallets, which primarily lies in the hands of once who is transferring the money. Like any other bank and secured platform, a password is associated with the account so that the transaction is well encrypted. Every transaction is recorded via a mining process, which helps keep track of the transfer daily. But at the same time, crypto is well concerned with its clients’ identity theft and privacy, and hence, even the slightest detail is adequately secured.

The blockchain is a miniature figure of a decentralized bank ledger which holds both the records of transaction and account balance.

From exchanging goods and services to trading internationally with dollars, cryptocurrency has already extended globally, paving the way for great success in the digital world. So, understanding its functions and being a part of the financial journey is no more dream.

What are the Top 10 Cryptocurrencies?

As the world of digital currency is evolving with remarkable success rates and bringing smiles to the pockets of investors, there are still genres of crypto left unexplored. One such are the leading cryptocurrencies and their features that are already showing enough predictions of ruling the upcoming years. Like any other platform, the globe of cryptocurrency is also possessed by several digital coins. This naturally tends to confuse the users, and one question that clicks our mind is, “Which is the best or which are the appropriate cryptocurrencies to choose?” Be it investors or beginners or users, choosing the best digital currency can be time-consuming, confusing, and landing up with an unworthy one is undoubtedly the biggest failure in this field.

So we are here to help you. Enlisting a single cryptocurrency as the best one is not easy, as certain currencies are equally beneficial and are already ruling the front row investors. So let us look at the ten cryptocurrencies that have been selected to have a promising future.

  • Bitcoin:

When discussing the best cryptocurrencies, the one that has secured its position on the top is Bitcoin. It aims at becoming a globally, peer to peer digital cash, which is completely decentralized in structure. With the highest liquidity and crypto space and the most lucrative one for the users, Bitcoin is already a favourite for most crypto traders.

  • Litecoin:

Its highly lucrative features and market caps are enough reasons to make it ever demanding. Moreover, Litecoin is also gifted with a faster blockchain, which tends to make us trust its longevity in the future.

  • Ethereum:

What can be more beneficial than launching desktop and decentralized mobile applications for the crypto blockchain technology? Ethereum was the first cryptocurrency that has gifted its users a significant project introducing smart contracts. With a secured transaction policy and a loyal community, experts believe that Ethereum will continue exploding in the upcoming years.

  • NEM:

With speedy transactions, affordability, and an advanced using procedure, NEM is eventually securing the position of an ambitious project with some prominent goals like royalties, smart contracts, game data, beneficial loans, etc.

  • ZCash:

Built on rigorous science, with stable privacy features and secure transactions and low fees, Zcash is automatically one of the best options to choose from the crypto globe.

  • Binance Coin:

Having a successful business history and experienced team nurturing its concept, Binance Coin offers a utility that attracts millions.

  • TRON:

One sole reason to place this currency in this list is its acquirement of Bit torrent a few years back. This has automatically managed to make it a developed, secured, and decentralized digital currency.

  • Ripple:

Oriented more towards large institutions, Ripple is more about linking with larger banks internationally and securing its grounds around the world. For the investors who dream about foreign financial trading, Ripple is the one for you all.

  • EOS:

A faster transaction platform with higher scalability, crypto experts are already predicting greater values form EOS in the near future.

  • Monero:

Offering excellent security and privacy with the development of passive networks, Monero is a unique crypto coin that provides a digital asset for the beginners.

Now, as you have achieved a good idea about the best crypto coins to choose, set your goals and budget, and strengthen your investment decisions before enjoying a considerable profit.

Bitcoin is the Next Gold?

The novel coronavirus has turned the tables for many economic outlets. The game of business is witnessing sudden gear shifts in its locomotion. While interest rates in fixed assets are cutting down and stock markets crashing sharply across the world, the cryptocurrency contrary to its popular belief was not a damsel in distress. ‘Halving’ was already a piece of positive news for many cryptocurrency investors. A notable bitcoin maturation leap also backs this news.  

Bitcoin, since the past decade, has played out well in the economic picturesque. This is evident with the decline of the bitcoin by 45% in 4Q18 when the S&P 500 declined almost by 14%. Bitcoin has managed to be riding high by 9% in 2020 despite a 20% S&P 500 correction. The Covid-19 pandemic has sought out rather good news for the cryptocurrency where it is being seen to have the potential of a risk -free asset like gold.

Bitcoin Maturation Leap, the April 2020 report from Bloomberg, highlights how the pandemic shook up the entire cryptocurrency market and the bitcoin’s likeability to transform into an unstressed asset like gold. As per the report, Bloomberg approves bitcoin’s possible to hold an equivalent value of a quasi-currency like gold.

The estimates came when the bitcoin shattered the predicted 30% loss during the economic downturn by making a decline of just 6%. There is greater open interest in the future with less agility contributing to the steadiness in the performance of the cryptocurrency in the market. These have got experts to give the nod for the bitcoin to have the capability to turn into the digital version of gold. The price plunge, too, will come out to be temporary as per the reports.

The stock market shakeout amidst the pandemic has also paved the way for the bitcoin to come out victorious as a bankable asset. Investments in cryptocurrencies have spiked during the economic downturn. Thanks to the halving and the bitcoin maturation leap, BTC is here to stay. Countries that have never indulged much into cryptocurrencies are suddenly paying attention to the market’s volatile assets.

If the bitcoin wins the title of the digital gold, soon there will be no looking back for many potential investors. AT the end of the day, risk-free and generous return giving investment wouldn’t upset a buyer.

Noticias Bitcoin: How Keeping Track Can Fetch Returns in Long-Term

Any business, if carried out in the dark, has fewer chances of its success. One must be fully aware of the past, the present, the recurring, and the future. Knowledge is the key to the league of relevance in cryptocurrency. When one talks about cryptocurrency, it cannot go without the mention of bitcoins – the most popular of all cryptocurrencies. Sometimes they are even synonymous with each other. Investing in bitcoin means to have an unpredictable investment. There are chances of returns as well as losses. It is the same for any asset-free investment. Yet, there seems to be a very efficient way through which gains can be boosted – the mechanism being, keeping all senses open.

Bitcoin’s volatile nature requires a close inspection in order to invest profitably. Since there is no guarantee of sure-shot returns, keeping information about prices, trends, policies, and legalities is a must. For experienced investors, this is not a piece of breaking news. Like shares, a little awareness will go a long mile to decide the tenure of the investment carried out. Only if one follows the cryptocurrency market news, they would know that Indians are stepping up investments in cryptocurrencies, especially bitcoins, while interest rates are slashed everywhere else. Bitcoins are going into “HOLDS,” which means ‘Hold Onto Dear Life.’ Indians are right now keeping the bitcoins and playing in the market to fetch long term investments for higher returns instead of selling them. This is an excellent opportunity for potential investors and buyers to think of the long term instead of short-term investments in the bitcoins.

Notices like this about the price and trend where bitcoin’s long-term profitability comes at the surface during a particular time. The news of a possibility of recovering lost bitcoins too is a ray of hope for few interested investors to try their luck at the crypto-market. Investors must keep an open eye and be an opportunist in such situations. Crypto-buyers and potential investors must keep a dab on all the latest happenings with the bitcoin across the world. Market trends and government policies might take a U-turn at any given point in time. Studying all aspects of a market and keeping a close watch on all notices regarding bitcoins will make it more feasible to invest in.

An introduction to Facebook’s Libra Cryptocurrency

Facebook’s Sudden Plan of Launching Libra:

Being a renowned social platform, Facebook is always set to extend its business to more spheres. The globe of digital currency is no exception. So, on July 15, 2019, Facebook planned to arrange a meeting with the US congressional committee to chalk out and discuss its aims and intentions regarding the digital currency named Libra.

Launching a digital currency is not a matter of joke. It convinced the US congressional team to include the Libra executives and some renowned crypto experts for better guidance before carrying the plan forward. After gathering enough information about Libra’s missions and goals, the conclusion was drawn that Facebook Libra might be a severe threat to the international and global financial setup.

But what are the Blockchain and Crypto enthusiasts there for? After the final hearing, they just denied to give up entirely on the failure of the launch of Facebook Libra. Thus, Libra is here to reside and so let us study a bit more about the soon to be launched cryptocurrency.

All About Facebook Libra:

The first question that strikes all of us is, “Since when Facebook decided to connect with digital currency?” or “Why suddenly Facebook was addicted to a crypto market?”

So the story takes us to the year 2018 when our favorite social media platform Facebook was getting done with the Cambridge Analytica Scandal, and suddenly it was struck with the planning of Libra currency. Gradually, after a more promising discussion, it was decided that the director of Facebook Messenger, David Marcus, would look after the Blockchain of Libra. Libra currency has big plans of including five significant features:

  • Scalable, secure, reliable than other blockchains.
  • Stablecoin for improved volatility
  • Governed by Libra Association
  • Smart contract coding through “Move” language.
  • Usage of LibraBFT mechanism.

Intentions behind the Libra Development:

The decision to purchase a cryptocurrency globe was not a casual one. Facebook hatched a plan to make it possible to transfer money on Whatsapp. Thus, to ensure that the currency was not similarly volatile like our traditional cryptocurrencies, Facebook was determined to make Libra a stable coin. Stablecoins are a sort of cryptocurrency designed to minimize the volatility of the price of the cash.

Final Launch:

In June 2019, after the sought of $1 billion in VC funding for Libra’s proper development, Facebook was all set to announce its launch after realizing its initial whitepaper. The final day can be anytime during 2020 as the basic code has already been released.

Facebook Libra Redesigned: A Whole New Setup of Cryptocurrency

Introduction:

Since the release of the whitepaper and the official launch of Facebook’s Libra cryptocurrency in 2019, the project has undergone various changes that are noteworthy. The changes were significant and required to make the project reach its peak and fulfill the big dreams of Facebook, to transfer money on the Whatsapp platform easily. The key spheres that have undergone alterations are the payment procedure, the cryptocurrency, the stablecoin system, and also some other factors that aim to balance with the regulatory customs and requirements.

All about the Redesigned Whitepaper:

The Libra Association team, after a thorough discussion with the Facebook in June 2019, decided to publish an upgraded version of the whitepaper for the Libra currency. The explanation for the significant changes in the project was announced by Michael Engle, one of the renowned developers of Libra Association.

Reason of the Redesign:

You might be wondering about the reason for redesigning as an initial whitepaper was already published after the launch. So when the same was asked to Mr. Engle, he shared his opinion by stating that the entire Libra blockchain technology aims at shaping an innovative approach to the various bankers, regulators, and officials. So for a smooth, regulated, and licensed payment mode, the upgraded whitepaper and other vital changes were very much required.

The Key Changes:

For achieving special attention, the newly redesigned Libra whitepaper comprises four key features. So let us briefly discuss each characteristic feature to know about the upgraded version better.

  • Single currency stablecoins- This is to allow a volatile transaction mode compared to the traditional currencies and for accessing a stablecoin in the currency for those who reside or work in various other regions.
  • Safe payment system- This is for massive user networks that provide several payments and also support non-financial services. A secure and smooth transaction has been aimed at with the redesigned Libra for commercial and mobile app transactions.
  • Permissionless transaction system
  • Protective Libra Reserve- As the developers are focusing on listing Libra on multiple electronic exchanges across worldwide, this feature can be considered as the most important one. 

Libra Coin:

Along with the whitepaper, the Libra coin has also adopted a new design which will not be a mere separate digital asset, but a composite single currency stablecoins in the Libra network.

Final Launch Date of the Redesigned Version:

Dante Disparte, the head of Libra Association, policy, and communications, revealed that the new Libra version’s launch date had been postponed to mid-November or the closing periods of the current year.

Mempool Mining

Cryptocurrency mining has been a rising trend. These include transaction techniques using blockchain technology. With exponential growth, cryptocurrency has grown rapidly and mining with it. 

Cryptomining or Cryptocurrency mining is a way in which information about transactions is added on a network. These networks are basically constructed in the form of blocks.

However, frequent mining leads to the addition of blocks which actually increases security.

Every time you make a transaction the miner will check if the information is legitimate or not. The mining procedures include competition with other miners. The competition is basically based on solving complex mathematical problems.

A person or individual who cracks this code is a crypto miner. This individual is rewarded on the basis of his/her ability to solve the complex mathematical codes.

Similarly, Mempool is a famous platform for cryptocurrency mining. Mempool offers enticing features that catch the eyes of the miners. It let miners choose their payment methods. They can earn BTC while mining and even BCH.

Mempool is basically a Bitcoin cash mining platform. This lets you mine on both BTC and BCH (SV) network chains. This platform also participates in mining competitions and reward the miner as well.

In simpler words, Mempool is a waiting zone for each node after they pass verification. These nodes are then picked up by miners. Also, this holding area is a place for all pending transactions. However, every node in the network has a separate memory size. In order to manage crashes on the network, Mempool creates a minimum fee limit. If the minimum limit is not met, it removes the transaction. It only accepts large transactions.

Apart from this, Mempool has pivotal roles as well. Mempool lets SPV clients access the transaction and look at information even before they entered a block.

Also, it has a remote network diagnostics.

What to do if your transaction faces traffic? In cases like this, all you can do is wait around 48 hours. After the time limit passes, the transaction funds are returned to the wallet.

Apart from this, there are two other ways to confirm the transaction. Firstly, some wallets let you replace a transaction and instead place another one with a higher fee. Secondly, multifarious mining pools offer a first-come, first-serve basis.

In conclusion, we can surely say that Mempool is a pivotal faction of the bitcoin network. It gives us a vivid picture of the traffic. 

Litecoin Block time

For the past few decades, cryptocurrency has been the burning sensation. Cryptocurrency surely paves a way for safer transactions. This is a digital platform that provides safer and encrypted sources of transactions. Moreover, these transactions are recorded and stored in ledgers. These ledgers are then stored in databases with complex encryption.

Moreover, Bitcoin was the first successful cryptocurrency software that rose to popularity. Other than this, another fork project, litecoin is currently on the rise.

This article focusses on the functionality and block time of litecoin.   

 Litecoin is the brainchild of Charles Lee and a fork project of the famous cryptocurrency platform, bitcoin. This is an end to end open cryptocurrency software. Here, the creation of coins and the transactions take place through highly encrypted cryptographic protocols.

However,  this was a spinoff. Also, litecoin was established in October 2011. Analytics also show that Litecoin is also a good investment for the future.

Being a spinoff of the cryptography giant, bitcoin,  it became evident that it has no correlation to the former.

Here are some common contrasting factors between litecoin and bitcoin.

One of the most common differences lies in the block time. Litecoin creates blocks every 2.5 minutes. Whereas, bitcoin processes block every 10 minutes. Litecoin also has an advantage when it comes to transactions. Litecoin provides fast and secure transactions in comparison to Bitcoin.

Moreover, Litecoin uses much efficient technology. It uses a script in its algorithm. This script is chronological. Also, it provides more memory as it is memory-hard making it much more efficient.

The block time of Litecoin refers to the addition of blocks. These blocks contain information or transactional records. They are encrypted and cannot be altered or viewed easily. However, the block time in the case of Litecoin is 2.5 minutes. The frequent processing of blocks to ensure secure mining. Why? Secure mining safeguards the transactions on the networks.

However, if we were to compare the efficiency of the giant Bitcoin with Litecoin, litecoin proves to be a much efficient one. Litecoin has higher security and frequent block processing. Whereas, Bitcoin takes about 10 minutes. But, Litecoin is has a more complex algorithm as compared to Bitcoin. This also makes it harder to function. Cryptocurrency changed the financial sectors and made it much secure. Surely, litecoin with its much efficient and upgraded algorithm will further be a giant in the cryptocurrency industry.

Best Multi-Cryptocurrency Wallet

We usually underestimate the value of this magical object in our lives, the wallet! A loaded one brings in all the joy and possibilities into the focus whereas the scanty sense of it unfolds the worst nightmares. When the traditional wallet has so much impact and importance in our lives, so will one for cryptocurrencies. When there is money, wallets are synonymous with it. In the plethora of such wallets being available, which one fits the perfect bill?

Apart from understanding how investments on cryptocurrencies can be made, fair learning of the ways to store and transact such wealth is also inevitable. Based on various functionalities and areas of importance, there is a multitude of wallets that exist. Some of the most renowned and trusted wallets are enlisted below:

  • Coinbase

One of the most trusted and recommended wallets for selling, buying and storing cryptocurrencies. It can be directly connected to a bank account and easily enable the flow of dollars to and fro from the account. The wallet comes with an extremely easy interface which is a boon to this fairly new method of transaction.

  • Trezor

Trezor is a device that is connected to a PC, tablet or phone to store and access coins. It has multiple currencies in-store and acts as a password manager. The wallet provides full protection from lost passwords and lost devices. The wallet is known for its super security.

  • Electrum

Electrum is software-based. This means that Bitcoin is stored in a set of encrypted files on the laptop or desktop computer. While accessing the coins is on the go, in case of loss or damage to the devices, there is no provision for retracting or recovery. One is subjected to losing their coins.

  • Blockchain

Blockchain is the technology that empowers Bitcoin and other technologies to exist. One can buy and sell directly using this technology. It also enables the buying and selling of currencies for a small fee. It has three key security features to ensure a cent percent security.

  • Robinhood

Robinhood is a free stock trading platform and includes options for investments and support for options. Robinhood is both like a wallet and an exchange. Wallet because it can store the coins and exchange because it facilitates the transaction of the coins.

  • Mycelium

Mycelium is a mobile-only wallet. This particular wallet is more complicated to use than the other ones. It boasts of “bank-grade security” along with anonymity for the desired bitcoin transaction.