Latest Cryptocurrency Headlines

Crypto Supporter and 3-D Gun Printer Cody Wilson Sees Child Sexual Assault Charges

Cody Wilson, who is known for founding 3-D printed gun company Defense Distributed and for being a cryptocurrency advocate, has been charged with sexually...

Three Cryptocurrency Companies Banned By Texas State for Offering Unregistered Securities

Three firms, DigitalBank (DGBK Ltd.), Coins Miner Investment, and Ultimate Assets LLC have been banned within the Texas state borders as the Texas State...

Gatecoin Cryptocurrency Exchange in Hong Kong Introduces Crypto-to-Crypto Trading

Gatecoin Cryptocurrency Exchange Introduces Crypto-To-Crypto Trading The Hong Kong based exchange aims to increase the number of new entrants to its platform as crypto to...

Stand Out Crypto Trading Analyst Wily Woo Expects Bitcoin Bear Markets to Continue

Willy Woo, an experienced Bitcoin analyst, believes that the cryptocurrency’s bear market will persist for a bit longer. This stance contradicts the opinion of...

RippleNet Grows to 40 Different Countries Improving the Remittance Industry and SME Payments

RippleNet Continues to Grow: 40 Countries In the last ten years, remittance inflows have grown over 400 percent. Both companies and individuals are now requesting...

CryptoKitties Introduces Third Party Developer dApps to Boost Active Users in the ‘KittyVerse'

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Coinbase Team Adds Fannie Mae's Brian Brooks and LinkedIn's Michael Li in Same Week

Brian Brooks of Fannie Mae has joined a cryptocurrency firm Coinbase as its chief legal officer. Brooks was the former executive vice president, general...
Craig Wright's Bitcoin Cash SVPool Mining Pool has 200 BCH Miners Line up For Launch

Craig Wright's Bitcoin Cash SVPool Mining Pool has 200 BCH Miners...

200 BCH Miners Line up For SVPool’s Imminent Launch SVPool has revealed that numerous Bitcoin Cash miners have pre-registered on their platform ahead of the...
Poland's PKO Bank Polski Set to Use Coinform’s Trudatum in New Blockchain Project

Poland's PKO Bank Polski Set to Use Coinform’s Trudatum in New...

Poland’s Largest Bank Set To Introduce New Blockchain Project PKO Bank Polski, Poland’s top bank, launched a new blockchain system on 19th September. The system...

NYU Stern School of Business is First University To Offer Major...

New York University (NYU) has just become the first university in the U.S. to offer students a major in blockchain technology. The program will reportedly...

Price Watch & Coin Technical Analysis

Bitcoin Cash (BCH) Daily and Weekly Price Analysis and Forecast September 20th

Though the fundamental side of Bitcoin Cash is in complete disarray, Bitcoin Cash prices are stable but technically bearish. If anything, this indecision as...

Monero, Ethereum Classic, Cardano, Tron, Ethereum Price Analysis September 20th

The last few days have seen increased volatility and even in the midst of all that, altcoins haven’t mustered enough momentum to drive prices...

EOS Daily Price Forecast – September 20

EOS/USD Medium-term Trend: Ranging Resistance levels: $ 5.5, $6.0, $6.5 Support levels: $5.0, $4.5, $4.0 Yesterday, September 19, the price of EOS was in a sideways trend....

XRP Daily Price Forecast – September 20

XRP/USD Medium-term Trend: Bullish Resistance Levels: $0.34, $0.36, $ 0.38 Support Levels: $0.30, $0.28, $0.26 Yesterday, September 19, the XRP price was in a bullish trend. The...

Litecoin (LTC) Daily Price Forecast – September 20

LTC/USD Medium-term Trend: Ranging Resistance Levels: $60, $65, $70 Support Levels: $50, 45, $40 Yesterday, September 19, the price of Litecoin was in a sideways trend. There...

Ethereum (ETH) Daily Price Forecast – September 20

ETH/USD Medium-term Trend: Ranging Resistance Levels: $240, $260, $280 Support Levels: $200, $180, $160 Yesterday, September 19, the price of Ethereum was in a range bound movement....

Bitcoin (BTC) Daily Price Forecast – September 20

BTC/USD Medium-term Trend: Ranging Resistance Levels: $6,400, $6,600, $6,800 Support levels: $6,200, $6,000, $5,800 Yesterday, September 19, the price of Bitcoin was in a sideways trend. The...

Tron (TRX) Daily Price Forecast – September 20

TRX/USD Medium-term Trend: Bullish Supply zones: $0.02800, $0.02900, $0.03000 Demand zones: $0.01700, $0.01600, $0.01500 TRX is in a bullish trend in its medium-term outlook. The strong bullish...

Bitcoin Cash (BCH) Daily Price Forecast – September 20

BCH/USD Medium-term Trend: Ranging Supply zones: $800, $900, $1000 Demand zones: $300, $200, $100 BCH continues in the range in its medium-term outlook. The strong bearish pressure...


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Security Token Academy: New York City October 4-5 Launch Event

The influx of blockchain companies and cryptocurrencies has driven a boom in ICOs which have successfully raised billions of dollars over the last two...

GONT ICO Token: Blockchain Virtual Machine Sharding And Service?

Despite the increase in the number of crypto solutions, there has been a limited adoption of cryptocurrencies for paying for mass services. Tokens are...

BeFirst Review: Legit Initial Coin Offering Business Services To Use?

Using BeFirst To Launch Your ICO BeFirst started as a dream between its partners. At first, all they wanted was to find a team of... Revolutionary Bitcoin Wallet Recovery Service?

A Revolutionary Bitcoin Wallet Recovery Service David Veksler is the man behind the Bitcoin Wallet Recovery Service. He is an expert in applied cryptography and...

Rom ICO (ROM Token): Blockchain Authorizing Data System?

What Is Rom? ROM is a digital platform that embraces the blockchain technology. The hybrid service data communication produces more value by using a user’s...

Biger ICO (BIGER Token): Blockchain Crypto Asset Management Project?

What Is Biger? Biger is a digital platform that aims to bring change in asset management through decentralization. This will minimize unnecessary intervention by centralized entities...

Diana ICO (DIA Token): Cosmic Cryptocurrency Blockchain Project?

What Is Diana? Diana seeks to decentralize the ownership of crypto by using group participation of the citizens and the issue of cosmic cryptocurrency to actualize...

Smart City Coin Test Network ICO (SCTTN Token): Blockchain Smart Home?

What Is Smart City Coin? Smart City Coin (SCC) is a utility token used for the pre-purchase of smart house hardware and units of services. Designed...

LoveBlock ICO (DDD Token): Blockchain For Online Dating Security?

What Is LoveBlock? LOVEBLOCK (LB) is a digital online dating platform, which uses the blockchain technology for worldwide online dating. The platform exists to bring a...

Internacional Coin ICO (Inter Token): Crypto Trading & Financing Platform?

What Is Internacional? This platform aims to be a financing and trading leader for the industry 4.0 era by using technologies like blockchain where the user’s...

Centive ICO (XTV Token): Blockchain Business Incentive Network?

What Is Centive? This business platform is adoption and platform-driven. It seeks to cater to the needs of various businesses and individuals. At the center of...

AI Zeus Blockchain ICO (AZS Token): High Capacity Blockchain Network?

What Is AI Zeus Blockchain? Zeus is a high-capacity artificial intelligence blockchain-based network whose main aim is to disrupt the 4 trillion-dollar market (Crypto, e-commerce, storage,...

Yanu Token ICO: Blockchain-Based Service Robot, A Bartending Unit?

When coming up with this project, the company behind Yanu considered the huge level of automation in the service industry. They have decided to...

WeBuy ICO (WBY Token): Virtual Blockchain Commerce Marketplace?

What Is WeBuy? WeBuy is a ground-breaking platform for e-commerce that makes it possible for small and medium enterprises to start selling online quickly and at...

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Today's Top 5 Cryptocurrency Losers

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CryptoCurrency Events


American National Standards Institute (ANSI) to Discuss Blockchain At Tech Innovation Event

American National Standards Institute To Deliberate Blockchain At A Forthcoming Event The American National Standards Institute (ANSI) will have a session to deliberate on blockchain...
R3 CordaCon 2018 Event On Blockchain Was High Energy With Corda Marketplace And CorDapps Launching

R3 CordaCon 2018 Event On Blockchain Was High Energy With Corda Marketplace And CorDapps Launching

The annual London gathering hosted by R3 to celebrate everything happening on the Corda platform and its developer community saw a meteoric rise in...

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Crypto Exchanges


ShapeShift Versus Faast: Which Non-Custodial Exchange is Right for You?

Centralized cryptocurrency exchanges routinely lose customer funds. That’s what inspired the launch of ShapeShift, a non-custodial exchange where customers could trade tokens instantly. While...
Cryptoa Exchange Review: DEX And CEX Crypto Trading Platform Benefits?

Cryptoa Exchange Review: DEX And CEX Crypto Trading Platform Benefits?

Cryptoa Exchange- A Hybrid Platform For CEX And DEX Models. The cryptocurrency market has witnessed several security breaches from hackers. Several institutions such as Cryptoa...
Dear Cryptocurrency Users, Here's 5 Blockchain Facts All Investors Should Hear

Dear Cryptocurrency Users, Here's 5 Blockchain Facts All Investors Should Hear

We live in an interesting time, when things that seemed impossible just a few decades...
6 Real-World Blockchain Technology Use Case Applications You Can Bank On

6 Real-World Blockchain Technology Use Case Applications You Can Bank On

Cryptocurrency is by far the most popular and recognized of the applications of distributed decentralized...

Meridio Token: Blockchain Real Estate Investment For Divisible Ownership?

What Is Meridio? Meridio is a blockchain-based platform that facilitates the creation of divisible real estate...
Gaming On The Blockchain

Gaming On The Blockchain: Best Virtual Currencies And Crypto Assets For Gamers

It's with a great deal of credit going to Bitcoin that Cryptocurrencies as a collective,...
Distributed Ledger Technology, or Blockchain, is Maturing After Enduring Growing Pains

Distributed Ledger Technology, or Blockchain, is Maturing After Enduring Growing Pains

Blockchain is Maturing, and Here’s How The blockchain community has always been largely composed of developers,...
Blockchain For Waste Management: How Is DLT Helping Clean Up Excess Trash?

Blockchain For Waste Management: How Is DLT Helping Clean Up Excess Trash?

We, humans, are building big mountains of trash. Every single day. And the situation is...

Cryptocurrency Wallets

Get To Know Your Ethereum (ETH) Hardware, Web And Mobile Wallets

Get To Know Your Ethereum (ETH) Hardware, Web And Mobile Wallets

Trading cryptocurrencies is a great way to make a profit. However, once you get them, you need a safe place to store them. This...

Metal Bitcoin Seed Storage: Jameson Lopp's Stress Test Results

Does Metal Bitcoin Seed Storage Work? Someone Did a Stress Test to Find Out One of the cool things about bitcoin is that you can...

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bitcoin vs bitcoin cash vs bitcoin gold

BTC Vs BCH Vs BTG – Bitcoin, Bitcoin Cash & Bitcoin...

Within days, we could have three versions of bitcoin, including Bitcoin (BTC), Bitcoin Cash (BCH), and Bitcoin Gold (BTG). What’s the difference between these...

Top 10 Bitcoin Books, Articles & Cryptocurrency Learning Resources

Bitcoin has dawned a new era of financial literacy and inclusion. The decentralized blockchain distributed ledger cryptocurrency technology and applications are starting to gain...

Top 7 Bitcoin Debit Cards – Compare Best Ways To Access...

Bitcoin is now a little over eight years old, and has experienced an extremely swift rise in value. As a result, the cryptocurrency has...
Top 3 Bitcoin Investment Apps

Top 3 Bitcoin Investment Apps – Mobile Cryptocurrency Trading?

Bitcoin and cryptocurrencies are a highly lucrative and dynamic investment that can provide a significant profit. There are many different techniques used to track...

Bitcoin Documentary Movies – Top 11 Crypto Blockchain Films?

Since the first transaction in 2008 there has been a high wave of curiosity surrounding Bitcoin. The peer to peer network system was developed by...

Most Popular Stories

Binance Crypto Exchange Envisions A Native Trading Platform On Nearly All Continents

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Largest Bitcoin Mining Company Bitmain's AntPool Partners with Houston Rockets NBA Team

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Coinbase Crypto Exchange Onboards Fannie Mae's Brian Brooks as New Chief Legal Counsel

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Bitcoin is a cryptocurrency built on blockchain distributed ledger technology. Bitcoin is a peer to peer electronic cash made possible by a decentralized database. It acts as public accounting system layered on a distributed network for all to nodes to witness and users to verify. Bitcoin was the first ever true electronic value transfer of a currency in the world's history.

It is being called a better-than-gold equivalent store of value and a medium of exchange to rival Visa, Mastercard and Paypal. Its unit of account and predetermined characteristics of a finite supply (21 Million total bitcoin in circulation to avoid inflation) make bitcoin a trustless, permissionless and (will be) frictionless new world currency. It is uncensurable and unconfiscatable with high-fungibility. It is the programmable money paradigm that requires no third party intermediaries or centralized governance for all users to agree and accept terms of using it collectively.

What Is Bitcoin?

Bitcoin is a technology – its digital money backed by blockchain DLT – a robust international network of payments and transactional/mercantile exchanges that are completely decentralized and relies on community consensus voting mechanism for the longest/honest chain. It doesn’t depend on banks or governments to operate and its creator Satoshi Nakamoto is a group of ghosts. Bitcoin is virtual money that can be sent from any place in the world to another, instantaneously, securely and for minimal to no fees (almost like an email or instant message of today).

Bitcoin breathed new life into trying times amidst real estate housing bubble and fractional lending credit debacle and came into existence in October 2008 after the publication of a whitepaper titled, “Bitcoin: A Peer To Peer Electronic Cash System” (created by the author under the name of Satoshi Nakamoto).

Satoshi combined the knowledge of prior digital currency developments (see the Nakamoto Institute) such as HashCash and B Money and finally got all the pieces to the puzzle to fit. It was the first to succeed where these others failed to engineer a practical, autonomous decentralized peer to peer cryptocurrency that requires no central authority for money emission, validation of transactions or settlements.

The main innovation in Satoshi’s Bitcoin invention is the development of a distributed computational hashing system known as the “proof-of-work algorithm”. It conducts global transaction validations every 10 minutes, allowing the decentralized network technology to come to consensus agreement about the state of each transaction and whether the funds are valid and should be confirmed for being locked into the next block created.

4 Keys Of Innovation

The invention of Bitcoin represents the pinnacle of years of research in distributed systems and cryptography, it’s development combines 4 key innovations that make the existence of Bitcoin possible:

  • The Bitcoin Protocol – A decentralized peer to peer network.
  • The Blockchain – A public ledger to record all transactions.
  • A Distributed Mining System – decentralized mathematical currency issuance
  • Transaction Script – A decentralized transaction verification system.

There is much more to learn about the inner workings of the blockchain and how it all works, but right now we will do our best to build bite-sized bits of digestible digital currency content like how to buy it, trade it, invest it, store it, send it, spend it, receive it and even earn it.



The Backbone Of Bitcoin

Mining is the skeleton framework that enables blockchain's coveted bitcoin cryptocurrency application to run properly. This open source process is how new bitcoin is added to the money supply and also verifies all transactions done using the peer to peer bitcoin network. The mining process serves to secure the bitcoin protocol from fraudulent transactions and ensures proper track of receiving and sending coins.

Miners provide petahash processing computer power (ASIC) to help validate transactions and ensure proper recording in the global ledger. On average a new block is mined every 10 minutes, adding those transactions to the global blockchain ledger, once confirmed and approved. Mining is what gives blockchain its ability to act as bitcoin's account system behind the scenes. Essentially miners and their computing power are responsible for holding together and securing the transaction network.


The Body Of Bitcoin

If mining is the backbone of bitcoin, exchanges are the body of bitcoin. The buying, selling, trading and investing in bitcoin are what gives cryptocurrencies its practical utility and universal appeal. There are a variety of specialized exchanges to buy bitcoins with funds from a bank account, debit card, credit card or Paypal. Buying bitcoin is simple to do and is the first step towards becoming an owner and user. The quickest way to get started with bitcoin is to sign up for a bitcoin exchange, where you can quickly buy, store and receive coins. Here’s the basic process you’ll need to follow:

  • Step 1) Open a Bitcoin Wallet/Exchange Account.
  • Step 2) Trade in fiat money for bitcoins.
  • Step 3) Transfer your Bitcoins to a secure private Bitcoin wallet.

That’s it! Below, we’ll explain more specific instructions – like tips on how to choose a good Bitcoin exchange and what to watch for.


The Brain Of Bitcoin

Bitcoin wallets allow the 'be your own bank' to become reality. Digital Wallets store a collection of cryptographic keys, each consisting of a private key and a public key. These keys are what you need to access a bitcoin address and spend your funds. To be absolutely accurate, you don't technically store bitcoins anywhere. What you store are the secure digital keys used to access your public bitcoin addresses and sign transactions. This information is stored in a bitcoin wallet. Wallets come in different forms, designed for different types of device.

You MUST have a wallet to get started using cryptocurrencies. A Bitcoin wallet is an app or program that allows you send and receive bitcoin. Wallets also keep track of your bitcoin balance which is held in one or more bitcoin addresses. Generally, wallets also have a feature that keeps a history of your bitcoin transactions.


There are several major Bitcoin exchanges, and there are several preferred exchanges. Different people have different needs, and multiple exchanges offer different services.

Your country and location also play a role when deciding which exchange to choose. Coinbase is the preferred leading exchange in the US and Europe for example, but if you are in Mexico Bitso is the best option to start. Check out our guide to opening a Bitcoin Exchange service account.

While researching Bitcoin exchanges, you’ll need to pay attention to important traits that separate good exchanges from bad ones. Pay attention to things like:


Major Bitcoin exchanges face hacking attempts every day. Even leading exchanges have suffered leaks in the past. It’s part of dealing with some of the most talented hackers in the world. Nevertheless, you’ll want a Bitcoin exchange with strong security and a limited history of leaks.


One of the best parts about buying Bitcoins is that you can do it with 100% privacy. However, the only real way to privately buy Bitcoins is with cash or a cash deposit. Not all exchanges support this. It’s easy to find exchanges that accept bank transfers, credit card payments, debit card payments, and PayPal, for example. However, each of these payment methods is tied to your personally-identifiable information. If you want to avoid being tracked, then you need an exchange that offers cash or cash deposit exchanges.

Fair Exchange Rates

One of the confusing parts about Bitcoin for newbies is the exchange rate. There is no “official” exchange rate for Bitcoin into world currencies. Instead, Bitcoin prices are based on the average price of Bitcoin across all exchanges. One reliable site for Bitcoin averages is Make sure the exchange you choose has a fair exchange rate based on the current price.


Bitcoin exchanges all have fees. You’ll typically see a deposit and withdrawal fee, for example, as well as a fee per exchange. Some exchanges will substantially reduce – or even eliminate – fees if you trade a lot of Bitcoins.

Purchase Limits

Most Bitcoin exchanges have no limits. If you have enough money, you can buy as much Bitcoin as you want. However, certain exchanges do have limits. If you’re working with an individual seller, then that individual may have lower limits than an exchange. Unless you’re buying more than, say, 25 Bitcoins, you shouldn’t have trouble with purchase limits.


One of the best parts about buying Bitcoins is that you can do it with 100% privacy. However, the only real way to privately buy Bitcoins is with cash or a cash deposit. Not all exchanges support this. It’s easy to find exchanges that accept bank transfers, credit card payments, debit card payments, and PayPal, for example. However, each of these payment methods is tied to your personally-identifiable information. If you want to avoid being tracked, then you need an exchange that offers cash or cash deposit exchanges.


Try to pick a trusted, long-standing Bitcoin exchange. Sure, some new Bitcoin exchanges might offer lower rates and better service – but until they’ve built a good reputation over time, you should stick with the known exchanges.


Focus on exchanges that have a wide selection of Altcoins and pairings. You want to have the stable coins as well as access to Altcoins fresh out of their Initial Coin Offering (ICO).


With a Bitcoin wallet, you can receive, store, and spend Bitcoins. Bitcoin wallets aren’t like conventional wallets: they can be apps, websites, devices, or software programs. These wallets contain private keys that give you access to your coins. Many bitcoin exchanges offer Bitcoin wallets when you sign up, for example. Other people hold physical Bitcoin wallets – or even physical Bitcoins – as a way to store their cryptocurrency.

There are many different wallets across various platforms. While they all share certain basic functionality, features vary from one wallet to the other so it’s worth learning more about How to Choose a Bitcoin Wallet before downloading the wallet of your choice. Wallets are necessary to carry and store bitcoins. Of course some exchanges may serve simultaneously as wallets but is always best to have a private secure wallet to store your coins after purchasing from an exchange.

The two main types of Bitcoin wallets available today include:


These are physical electronic devices – similar to a USB stick or thumb drive – built for the sole purpose of managing your Bitcoins.

Many people like hardware wallets because they perform like physical wallets: you need to connect your wallet to a computer, phone, or tablet in order to spend the Bitcoins inside.

Popular hardware wallets include the KeepKey, Trezor, and Ledger Nano S.

Protecting Your Cryptocurrency Investments

The only way to lose Bitcoins through a hardware wallet is if someone steals your wallet. Even then, you can protect your hardware wallet with a PIN code. And, if you lose your wallet for any reason, you can use a secret backup code to maintain access to your Bitcoins.

The only real downside of hardware wallets is they’re not free. You have to pay for the physical device. Expect to pay between $50 and $100 for a good Bitcoin wallet – although cheaper options are available for under $20.

Some hardware wallets:


Hot Bitcoin wallets are apps or software programs found on smartphones, tablets, or computers. Hot wallets generate your private Bitcoin keys.

Hot wallets are typically seen as the easiest way to store and spend Bitcoins, but security is a concern. Those who own a lot of Bitcoins typically use hot wallets to store a small amount of Bitcoins, while using hardware wallets for their main Bitcoin fund.



This tends to be the most popular method of buying Bitcoins. After all, most people have a credit or debit card, and are familiar with how to use them. Buying Bitcoins with a credit or debit card also means you instantly gain access to your Bitcoins. The downside with credit/debit card Bitcoin purchases is that exchanges typically charge higher fees. The other problem is that your Bitcoins are tied to your personal information. You need to prove your ID to buy Bitcoins with a credit card.

Popular exchanges for credit/debit card Bitcoin purchases include Coinbase, Coinmama,, and BitPanda. Coinbase is only available in the United States, Canada, Europe, and Singapore; BitPanda is only available in Europe. CEX and Coinmama are both global exchanges.


Bank transfers are the preferred way to buy a large amount of Bitcoin. Exchanges also typically charge lower fees for bank transfers compared to credit or debit card transfers. The main downsides of a bank transfer are the slow speeds (takes about 5 business days to complete, in some cases) and the ID verification. Just like with credit or debit card purchases, your ID is tied to your Bitcoins. Coinbase, BitPanda, and Gemini all allow Bitcoin purchases with bank transfers.


Cash is the preferred method for those who want to deal with Bitcoins anonymously. A cash deposit lets you access your Bitcoins quickly (even instantly) while remaining totally anonymous. There are some major downsides with cash exchanges. You’ll almost always pay higher rates (expect to pay 10 to 15% above market rates for a cash exchange). It’s also easier to get scammed or robbed. If you’re working with a disreputable exchange, then your cash might disappear with no record.

If you want to use cash to purchase Bitcoins, use services like LocalBitcoins, BitQuick, or Wall of Coins. However, the best method may be to find a Bitcoin ATM in your local area. Every major city in the world has a Bitcoin ATM. New York City has about a dozen, for example. Even Bitcoin ATMs have a cash rate that’s 10 to 15% higher than the current exchange rate.


PayPal doesn’t officially let you buy Bitcoins. Accessing Bitcoins through PayPal is difficult. In fact, PayPal’s terms of service explicitly forbids merchants from accepting PayPal payments for Bitcoins. However, there are some ways to get around this problem. You can buy digital items with PayPal, then sell those items for Bitcoin, for example. As an example, payment platforms like VirWoX let you buy Second Life Lindens (yes, the currency used in Second Life) with your PayPal balance, then trade those SLL for Bitcoins.

There are downsides: you lose more money by exchanging your money twice. There’s also the problem that PayPal could shut down your account if it discovers what you’re up to. Ultimately, the exchange fees with PayPal / Bitcoin transfers add up to about 10 or 12% – similar to what you pay for cash transfers.



What Time Of Day Should You Buy?

Bitcoin is traded 24 hours a day, 365 days a year. Bitcoin trading never stops. The price is constantly fluctuating. Like with most markets, it’s hard to time the Bitcoin exchange rate. You can use tools like Bitcoin Wisdom or Cryptowatch to analyze historical Bitcoin exchange rate data.

Many people are attracted to Bitcoin because they heard of people who bought hundreds of Bitcoins for $20 USD back when the cryptocurrency first hit the internet. Those people became millionaires overnight when the price of Bitcoin shot up. If you’re buying Bitcoin because you expect that type of success, then you’ll probably be disappointed. If you’re interested in that type of overnight success, however, then there is a chance that it can be found in the altcoin markets.


Altcoins Vs Bitcoin

When visiting Bitcoin exchanges and websites, you may see information about buying “altcoins”. Altcoins are cryptocurrencies other than Bitcoin. Bitcoin was the first cryptocurrency to become really popular. Since the rise of Bitcoin, however, hundreds of other cryptocurrencies have emerged. People invest in altcoins because they’re hoping for a Bitcoin-like rise in value. The vast majority of altcoins, however, have virtually no value.

In general, you should avoid buying currencies that go through sudden spikes and drops in price and volume. However, if you’re feeling brave, and don’t mind exposing yourself to risk, then certain altcoins are worth the price. A growing number of altcoins are accepted as online payments – just like Bitcoin.


Importance Of Blockchain Technology

The blockchain is an essential part of the cryptocurrency world. Without the blockchain, Bitcoin wouldn’t exist. The blockchain was created by Satoshi Nakamoto – the mysterious creator (or group or creators) behind Bitcoin. It’s an ingenious invention that has already changed the future of banking and global economics.

A blockchain allows digital information to be distributed – not copied. It’s the reason Bitcoin works as it does. As explains, “blockchains create the backbone of a new type of internet”. It was first used to create Bitcoin, but blockchains are already being used in all corners of the tech world. Here’s the best definition of the blockchain, from Don & Alex Tapscott, authors of Blockchain Revolution (2016):


What Is Blockchain Technology?

In a more simplified sense, picture an Excel Spreadsheet that’s duplicated thousands of times across a network of computers. Now, imagine that the network is programmed to constantly update all of those spreadsheets simultaneously. That’s basically what a blockchain is. It’s like Google Docs for banking.

The blockchain consists of a shared database. That database isn’t stored on any single person’s computer. There’s no centralized version of the blockchain. The blockchain exists everywhere at the same time – which means the information on the blockchain is public and easy to verify. With the blockchain found on millions of computers worldwide, it’s easy for anyone to verify information on the blockchain. All you need is an internet connection.

Bitcoin and its blockchain were first invented in 2008. Amazingly, since 2008, the Bitcoin blockchain has operated without any significant disruption. It’s proven itself to be transparent and incorruptible over the years. About every 10 minutes, a new “page” or “block” of valid transactions is confirmed through the Bitcoin blockchain. That means new files need to be added to the files on all the computers.


What Makes Up A Blockchain?

The blockchain is essentially a network of “nodes”. A node is an individual computer connected to the blockchain network. Each node gets a copy of the blockchain. That copy is automatically downloaded when you join the blockchain network. As part of the blockchain network, each node also has the job of validating and relaying transactions on the blockchain. Each node is a blockchain administrator.

Why would someone become a node? Each node has a chance of winning Bitcoins. Each node is constantly solving computational puzzles. You know how people talk about Bitcoin mining? Essentially, Bitcoin mining is just using a powerful computer to solve algorithms.


How Can Blockchain Technology Be Used In The Future?

Bitcoin was the first major use for the blockchain – but it certainly won’t be the last. The potential for blockchain technology is enormous. The biggest implications for the blockchain are on the world of finance.

Blockchains could cut out the middleman for money transfers, for example. That could facilitate the transfer of money worldwide. Instead of having a middleman – like a bank – charging money for each transaction, we could use the blockchain to securely transfer money worldwide at minimal cost.

Bitcoin Exchange Guide

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