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Economics Book Review – The Ascent of Money, a Financial History of the World (Niall Ferguson)

Cryptocurrency is a digital asset that is used as a means of transaction, primarily with the help of robust cryptographic technology to secure financial transactions, control the creation of additional assets, and verify asset transfers. It is also known as digital currency or virtual currency. Unlike central banking systems, it is a decentralized system of control and financial transactions that operates primarily through the blockchain used for financial transactions.
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The first decentralized virtual currency developed in 2009 is known as the Bitcoin virtual currency unit and operates independently without the assistance of a central bank or administrator. Since then, about 4,000 cryptocurrencies of different bitcoin variants have been developed. Bitcoin is considered to be a peer-to-peer electronic cash system where users make transactions directly without intermediaries.
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Blockchain is a multi-block data file that stores records of all previous bitcoin transactions and even creates new ones. The average normal time between each block is about 10 minutes. The most common use of Bitcoin is supported by external software called Bitcoin wallet. Using this software, the transaction of bitcoin units can be easily saved, received and managed. To make transactions through bitcoin, you must have any bitcoin exchange account around the world and you must transfer a trusted currency to that account. The account holder can make future transactions using these funds. In addition to bitcoin, the other source of cryptocurrency is petroleum, which is mainly used for oil and mineral reserves.

There are some pros and cons to the use of digital currency. The main advantages of using virtual currency are: –

• Provides a quick layer of transparency: –

Bitcoin usually works with the help of a book called Blockchain which records and controls all transactions. This is called static when a transaction is made and registered in this library. These transactions can be verified at any time in the future and therefore also ensures the security and privacy of all transactions made through a particular account.

• Fast processing and portable use: –

Billions of dollars of bitcoin can be easily transferred from one location to another with the help of a single memory-free unit without any detection. While you are conducting any type of transaction, third party involvement can be eliminated by using this bitcoin technology. This will result in quick and easy operation without the permission of a third party,

• Low transaction costs: –

The transaction costs caused by the exchange of these digital currencies are much lower, which makes them cheaper than the real currency for the world’s population. Therefore, the cost of any type of transaction made is very low, which is an advantageous feature of the population in all those who are making a transaction.

• Fights and eradicates poverty: –

Often banking systems and financial institutions do not provide support or assistance especially to the backward classes in rural areas. Bitcoin serves as an alternative in cases where it extends its robust financial services to anyone with Internet access. It often provides support to the poor and oppressed classes, who in most cases are not given viable alternatives.

As new technology arrives, some of the negative factors associated with its use are: –

• Lack of knowledge and distrust of the population: –

Due to the lack of knowledge about digital currency, people are distrustful of its widespread use. Therefore, the number of business systems that support these cryptocurrency sources is very small, so they limit the business systems that prefer to use virtual currency in their daily transactions.

• Non-facilitating transactions: –

Since transactions made by Bitcoin cannot be found, it provides room for criminal transactions. In these cases, it is drug traffickers and strict people who use this virtual currency to prevent illegal activities from being easily detected.

• volatile nature and uncertainty: –

It is sometimes variable in cryptocurrencies and continues to change frequently on a large scale. Sometimes people make quite a bit of money when the market rates for these virtual currencies increase and sometimes they suffer a huge loss when the price falls.

Cryptocurrency is an innovative but amateur concept that can disrupt the entire financial market. It is true that this digital currency has gained the attention of the world in a short time. There are always advantages and disadvantages to all the new technologies emerging in the market. In order to make the best use of it, both sides must be examined before decisions can be made.

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Bitcoin Cryptocurrency Owner Getting Started Guide

Bitcoin Cryptocurrency works all over the world, whether you are on the Internet or on any medium. It’s one of the most exciting and wonderful things to come up with in recent years. More importantly, you can get a huge return by trading bitcoins or you can keep them for the long term.
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You can hear a new currency called Stocks, Commodities, Forex and now Bitcoin trading that has a huge impact on our lives. In this beginner’s guide to Bitcoin cryptocurrency, you’ll learn about the ABCs of Bitcoin.
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About Bitcoin Cryptocurrency

The origins of Bitcoin are not yet known, but an article was published in October 2008 under the pseudonym Satoshi Nakamoto from Japan. Its identity is still unknown and it is estimated that approximately one billion bitcoins were worth more than $ 6 billion in September 2017.
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Bitcoin is a digital currency known as a cryptocurrency and is free from any geographical limits. No government regulates it and all you need is an internet connection. As a beginner, Bitcoin technology can confuse you and it’s a little hard to know about it. However, I will help you delve deeper into how you can also do your first Bitcoin trading easily.
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Bitcoin Cryptocurrency blockchain technology works. It is a digital public book and is shared by anyone in the world. You will find your transactions when you make Bitcoin transactions and check that anyone can use the ledger. The transaction made will be completely transparent and verified via blockchain. Bitcoin and other cryptocurrencies are part of the blockchain and the technology that works only on the internet is tremendous.
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Key Requirements Related to Bitcoin Cryptocurrency

Before you are ready to own your first Bitcoin, it’s best to know the key terms associated with bitcoins. It is also called BTC which is part of bitcoin and 1 bitcoin is equal to 1 million bits. With the advent of bitcoin, other alternative cryptocurrencies were also developed. They are commonly called Altcoins and there are Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Monero (XMR) and many more.
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XBT and BTC are the same thing and usually the abbreviation for bitcoin. Mining is another term that is used a lot and is actually a process done by computer hardware for Bitcoin networks.
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Things you can do with Bitcoin

You will be able to trade, trade, accept and store Bitcoin. You can send them to friends, order them from a friend, and save them to your digital wallet. What’s more, you can now charge your mobile / DTH directly by paying via bitcoin.
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The transaction cost is low compared to PayPal, Credit Card and other online intermediaries. It also protects your privacy from being leaked on the internet when using credit cards. It is very safe and no one can catch or steal coins. Due to the transparency of the system, it cannot be manipulated because of the shared public library. You can check the transaction from anywhere and anytime.
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It is likely that demand will rise as the total production of bitcoins should be limited to only 21 million. Japan has already legalized it and other countries may follow soon and prices may rise further.
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I will discuss more details about bitcoins in the coming days, where you will learn great things about bitcoin trading. You can leave your comments and ask for anything related to bitcoin.
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If you think Bitcoin Cryptocurrency is a useful guide for beginners, share it and like it on social media.

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Learn how to exchange Bitcoins

Choose an exchange service.

The most difficult method of obtaining bitcoins is using the method and the online exchanger. The approach taken by an online bitcoin exchanger is very similar to the method used by currency exchanges. All you have to do is register online and convert your currency into fiat bitcoins. You can find many bitcoin exchangers online. The best option is to choose the place where you are located. Here is a list of the most stable and popular online bitcoin exchanges:
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CoinBase:

Probably the most popular. This exchanger will offer you exchange services, portfolio creation and bitcoin trading. They really have mobile apps that make it easier for you to buy or exchange your bitcoins.
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Circle:

By creating an account there, you will be able to store, receive, send and exchange your bitcoins.

Xapo:

This organization will email you a debit card so you can use your bitcoin in your trusted currency.

Some exchange services also allow you to trade Bitcoins.
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Some of these exchange services will allow you to exchange your bitcoins. Every day you will find Bitcoin services that limit the amount of bitcoins you buy and sell. Many of these exchange and wallet systems store digital and reliable currencies, much the same as ordinary bank accounts do. These exchangers and wallets are great if you expect to get into the trade and don’t need to be 100% anonymous.
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Provide your ID and contact information with the service.

As soon as you sign up for the online bitcoin exchange service, you will need to provide your personal information to create your online account correctly. Many countries require members to meet anti-money laundering criteria, so you should present proof of your identity.
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You should be aware that online bitcoin exchanges will not give you the exact level that security banks have. In other worlds, you may not be protected from hackers or get a refund if your online bitcoin exchanger is out of business. That depends on the exchanger, of course, some have stronger security systems, others and a few are more economically robust than others.
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Buy Bitcoins with your exchange account.

Once you have completed setting up your online bitcoin exchange service account, you will need to link it to your bank account so that you can easily send and receive money between the two platforms. You may have to charge money to switch from your bank to the online platform and vice versa.
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You should read all the details on this topic in the online exchange systems and in the support / faq sections of your banking platform. There are exchangers that allow you to make a deposit in your bank account in person. One way or another, it is very wise to choose an online exchange platform that is located in your country.
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Some exchanges may also restrict their members if they live in a specific country where they are located. There are exchangers that allow you to transfer money to foreign accounts. Remember that the costs may be higher if you choose to continue with this approach, there may also be a withholding to get your money.
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What is Bitcoin and is it a good investment?

Bitcoin (BTC) is a new type of digital currency that has cryptographic keys, is decentralized to a network of computers used by users and miners around the world, and is not controlled by a single organization or government. It is the first digital currency to capture the attention of the public and is being accepted by more and more merchants. Like other currencies, users can use digital currency to purchase goods and services online, as well as in some physical stores that accept them as payment. Currency traders can exchange Bitcoins for Bitcoin exchanges.

There are significant differences between Bitcoin and traditional currencies (e.g., the US dollar):

  1. Bitcoin has no centralized authority or clearing (e.g., government, central bank, MasterCard, or Visa network). The peer-to-peer payment network is managed by users and miners around the world. Currency is transferred directly between users directly via the Internet, without going through a clearing house. This means that transaction rates are much lower.
  2. Bitcoin is created through a process called “Bitcoin mining”. Miners around the world use mining software and computers to solve complex bitcoin algorithms and accept Bitcoin transactions. They are provided with transaction fees and new Bitcoins created when solving Bitcoin algorithms.
  3. There is a limited amount of bitcoins in circulation. According to Blockchain, there were about 12.1 million in circulation on December 20, 2013. The difficulty of exploiting Bitcoins (solving algorithms) becomes harder as more Bitcoins are generated, and the maximum number in circulation is limited to 21 million. The limit will not be reached until 2140. This makes Bitcoins more valuable because more people use them.
  4. A ledger called ‘Blockchain’ records all Bitcoin transactions and shows the assets of each Bitcoin owner. Anyone can access the ledger to verify transactions. This makes digital currency more transparent and predictable. More importantly, transparency prevents Bitcoins fraud itself and double spending.
  5. Digital currency can be acquired through Bitcoin mining or Bitcoin exchanges.
  6. Digital currency is supported by a limited number of merchants in the network and in some brick outlets.
  7. Bitcoin wallets (similar to PayPal accounts) are used to store Bitcoins, private keys and public addresses, and to transfer Bitcoins between users anonymously.
  8. Bitcoins are not insured and are not protected by government agencies. Therefore, secret keys cannot be recovered if they are lost on a hard drive stolen or failed by a hacker or because a Bitcoin exchange has been closed. If secret keys are lost, the associated Bitcoins cannot be recovered and would be out of circulation. Visit this link for FAQs on Bitcoins.

I believe that Bitcoin will gain greater acceptance from people because users can be anonymous while buying goods and services online; transaction rates are much lower than credit card payment networks; anyone can access a public textbook that can be used to prevent fraud; the currency supply is 21 million, and the payment network is managed by users and miners instead of the central authority.

However, I don’t think it’s a great way to invest because it’s very volatile and not very stable. For example, the price of bitcoin has risen from about $ 14 to a peak of $ 1,200 this year at the time of writing before the $ 632 per BTC fell.

Bitcoin has risen this year because investors thought the currency would gain greater acceptance and the price would rise. The currency fell 50% in December as BTC China (China’s largest Bitcoin operator) announced that it could not accept new deposits as a result of government regulations. And according to Bloomberg, China’s central bank has banned financial institutions and payment companies from handling bitcoin transactions.

Bitcoin is likely to gain greater public acceptance over time, but the price is very volatile and very sensitive to news that could negatively affect the currency (such as government regulations and restrictions)

Therefore, I do not recommend investors to invest in Bitcoins unless they buy less than $ 10 USD per BTC, which would allow the safety margin is much higher.

Otherwise, I think it’s much better to invest in stocks with strong foundations, as well as large business solutions and management teams, because the underlying companies have their own values ​​and are more predictable.

Disclosure: Victor Liang has no position in Bitcoins and has no plans to change position in the next 72 hours.

Bitcoin Economic Education – IV. Part

Just as traditional products can be bought in different exchanges in different countries, and sometimes there may be price differences between these exchanges, however, there are multiple Bitcoin exchanges and there may be price differences between them. Arbitrage players take advantage of price differences to buy products in surplus markets and sell them in markets where there is a shortage. Similar opportunities exist in the Bitcoin markets. You wouldn’t expect this to be the case with digital merchandise, but where rubber actually fills the road, there are external factors. Of course, different exchanges in different countries operate in different fiat currencies, so for example, when we compare the price of Bitcoin in the US dollar between a Canadian-based exchange and a Hong Kong-based exchange, part of the difference is due to friction. exchange between these local currencies.

Let’s look at a concrete example. Know that you are a Canadian who has been examined by a Canadian Bitcoin exchange in accordance with your Client’s (KYC) and Anti-Money Laundering (AML) procedures and you have opened an account and entered Canadian dollars. You will be waiting to dive into the price of Bitcoin and then you will make a purchase. A few days or weeks later, the price hasn’t moved much, but you’ll notice that it shows some appreciation for a particular Hong Kong-based exchange; where the price has gone up by 10% since you bought it. Transferring Bitcoin from one wallet to another is cheap or free if you’re in no hurry, so it’s easy to take your Bitcoin exchange to a wallet – or if you have a wallet in that exchange. Opening a wallet in this exchange is an obstacle, but a small one, and an hour later, you sell those Bitcoins. Now what? You are left with a Hong Kong dollar balance in a Hong Kong-based Bitcoin exchange. That’s where the obstacles increase; you will probably have to go through the KYC and AML processes before you can get that fiat currency out of the Hong Kong exchange, and even then, how will you do it? Will they send you a check? Will it be forwarded to your Canadian bank? What do they charge for fiat withdrawals? What will your Canadian bank do with those Hong Kong dollars? Will they be exchanged for Canadian dollars? At what exchange rate? What fee? What are your tax consequences? This estimate of 10% of foreign currency does not seem so absurd.

These costs and problems are the friction that some of these imbalances create. If Indians are making purchases, offering the price of Bitcoin in their local exchanges can be a challenge for people who sell Bitcoin in other currencies to take advantage of the opportunity to trade. However, it is not insurmountable, and there are rewards for people who can figure out how to do it financially. Passengers who bank in several countries and need multiple currencies, for example, can save on these friction costs.

We find the same kind of opportunity in Bitcoin mining. Mining with the hope of making money consumes tons of energy because it costs so much more than most people generate. However, if you live in a situation where free energy (i.e., Venezuela), cheap (i.e., solar, or wind), or thermal output from mining can offset heating costs, you may find it profitable.

The usual thing about these opportunities is that your success requires you to find and fill a niche: to respond to a need that has not been served. Mine to speed up transactions for others when you have the economic advantage to do so. Exchange capital to provide capital to others who cannot move between currencies as easily as possible. Doing these things for others compensates you.

3 solid foundations for the world of digital currency – Cryptocurrency

Welcome to the world of “crypto”!

– Blockchain technology domain

– Cryptoconferencing market

– Bitcoin payment system cabinet.

So here’s how you can go about it as a trend or a “world of digital currency” with a great move up the game.

If you avoid Bitcoin and cryptocurrency today, you will fall into a bad ditch tomorrow. It really is the present and future of the currency that does not know how to interrupt the steps. From its inception to the present day, it has been growing and helping many individuals around the world.

Whether it’s Blockchain registering transactions or managing the entire payment structure to define the rules of the Bitcoin system or the Erc20 token portfolio and determine Ethereum token policies – everything goes hand in hand and into the new ray of world currency.

Sounds really good, right?

Also, with the advent of a successful way of currency, many companies love to be a part of this game. In fact, it is the business or organization to help blockchain technology or cryptocurrency without any problems through a reliable Blockchain development company. With great knowledge and potential, these companies are developing this currency and playing a key role in the digital economy.

For a second dwarf, suppose that we assume that cryptocurrency will not exist, then what will happen?

Maybe time will tell!

Launched for the first time by Satoshi Nakamoto, Bitcoin was a colonizer and from that beginning, an innovative digital currency developed with a spectrum of good things.

So the question arises: will the development of the cryptocurrency or the creation of its cryptocurrency development company disappear or stay until the end?

The truth is that the future cannot be predicted, but we can say that the cryptocurrency development company or the Erc20 or Blockchain or Bitcoin portfolio development company will be there with the same enthusiasm and passion to lend a hand to vertical businesses and organizations.

Former eBay CEO John Donahoe said “Digital currency is going to be a very powerful thing.”

And, it’s getting very accurate as time goes on.

In fact, there are valid reasons behind the success of this concept.

Fraud Proof:

The blockchain is associated with cryptocurrency. So every transaction is recorded in this ledger, avoiding any fraud. And, all identities are encrypted to overcome identity theft.

Erc20 respects all rules and protocols so it does not violate rules and regulations. If you are here, don’t forget to contact the Erc20 development company and get them developed within the rules.

You are the sole owner:

There are no third parties, no other assistants, no electronic system to evaluate what you are doing. Simply keep you and your customers from the end experience. Isn’t that a great concept?

However, the settlement is immediate and is between you and the seller without further interruption. In the end, it’s your call.

Easy to access:

The internet has done everything in its power and reach. It plays a vital role in the digital currency market or the exchange market. You will have a better chance of exchanging currency, instead of using the traditional ways and which require a lot of time. And, a wonderful way to get enthusiastic about the cryptocurrency sphere.

If you own a business and anticipate that you will welcome a cryptocurrency conference in your area, go ahead with the decision. Approach the development of a trusted vendor or cryptocurrency exchange with all the cards open and then hit the ball on the court.

To start with Crypto

Investing in Crypto Currency market space can be a bit daunting for a traditional investor, as investing directly in Crypto Currency (CC) requires the use of new tools and the adoption of new concepts. So if you decide to get your fingers into this market, you want to have a very good idea of ​​what to do and what to expect.

CC buying and selling requires you to choose an Exchange that deals in the products you want to buy and sell, be it Bitcoin, Litecoin or more than 1300 tokens in play. In previous editions we have briefly described the products and services available in some exchanges so that you can get an idea of ​​the different offers. There are so many exchanges to choose from and everyone does things their way. Find things that are important to you, such as:

– Deposit policies, methods and costs for each method

– Withdrawal policies and costs

– What fiduciary currency they treat for deposits and withdrawals

– The products they deal with, such as cryptocurrencies, gold, silver, etc.

– Transaction costs

– Where is this Exchange? (USA / UK / South Korea / Japan …)

Prepare for an accurate and lengthy Exchange setup procedure, as exchanges generally want to know a lot about you. It’s similar to setting up a new bank account, as Exchanges are intermediaries of valid objects, and they want to make sure you say that you are who you are and that you are a reliable person to deal with. It seems that “trust” is achieved over time, as exchanges typically only support small amounts of investment.

Your Exchange will store them in your CC repository. Many offer “cold storage” which means that your coins are kept “offline” until you indicate that you want to do something with them. There are news outlets that have exchanged and stolen a lot of coins. Imagine that your coins are in something like an Exchange bank account, but remember that your coins are digital only and all blockchain transactions are irreversible. Unlike your bank, these exchanges do not have deposit insurance. So keep in mind that hackers are always trying to get and steal everything from Crypto coins. Exchanges generally offer password-protected accounts, and many offer 2-factor authorization schemes, something to consider when protecting your account from hackers.

Keeping in mind that hackers love to exchange and capture your account, we always recommend using a digital wallet for your coins. It’s easy to move coins between your Exchange account and your wallet. Make sure you choose a wallet that handles all the coins you want to buy and sell. Your wallet is a device you use with merchants who allow you to “spend” your coins for CC payment. The two types of wallets are “hot” and “cold”. Hot wallets are very easy to use, but they leave your coins exposed on the internet, but only on your computer, not on the Exchange server. Cold wallets use offline storage media, such as specialized hardware memory sticks and simple paper printing. Using a cold wallet makes transactions difficult, but they are the safest.

There is a “private” key in your wallet that allows you to start all the transactions you want. You also have a “public” key that is shared on the network so that all users can identify your account when they make a transaction with you. When hackers get your private key, they can take your coins wherever they want, and it’s irreversible.

Despite all the challenges and wild volatility, we are confident that the technology of the underlying blockchain is a game changer and will change the way transactions are conducted in the future.

What is Bitcoin and why is Cryptocurrency so popular?

Bitcoin has been the buzz word in the financial space. The truth is that Bitcoin has exploded into the scene in recent years and many people and many large companies are selling Bitcoin or cryptocurrency as part of their flagship action.

People who are completely new to the cryptocurrency space are constantly asking this question; “What is Bitcoin really about?”

Well, for beginners bitcoin, is a digital currency that is out of the control of any federal government, is used all over the world and can be used to buy your food, drinks, real estate, cars and other things.

Why is Bitcoin so important?

Bitcoin is not subject to government control and things like foreign currency fluctuations. Bitcoin has the full and unparalleled support of the individual (you).

This means that anyone can transact with Bitcoin. The first thing to realize is that it is cheaper to try to send money from bank to bank or to use any other service that requires sending and receiving money internationally.

For example, if I want to send money, let’s say to China or Japan, I would have to pay a bank fee and it would take hours or days to get that fee to get that money.

If I use Bitcoin, I can easily do it in my wallet, mobile phone or computer right away, without these fees. For example if I want to send gold and silver it would take a lot of guards a lot of time and a lot of money to move points from point to point. Bitcoin can do it again with a touch of a finger.

Why do people want to use Bitcoin?

The main reason Bitcoin money is a response to these unstable governments and situations is that money was not as valuable as it used to be. The money we have now; the reliable paper currency in our wallets is worthless and will be worth even less a year from now.

We’ve also seen major companies showing interest in blockchain technology. A few weeks ago, a survey was released to some Amazon customers as to whether or not they would be interested in using cryptocurrency if it was created by Amazon. The results of this showed that they were very interested. Starbucks also warned about the use of the mobile blockchain app. Walmart has applied for a patent to track and authenticate packages on a “smart package” that will use blockchain technology.

There have been many changes throughout our lives in the way we shop, the way we watch movies, the way we listen to music, the way we read books, buy cars, look for houses, see how we spend money and banks. Cryptocurrency is here to stay. If you haven’t already, it’s time for anyone to fully explore cryptocurrency and learn to take full advantage of this trend that will continue to thrive all the time.

Bitcoin Smart strategies for accumulating gold bullion

I heard about bitcoin in 2013 for a couple of years and I never expected it to become a strong cryptocurrency today. As of this writing, it has a higher market value than gold. It opened up a window of many opportunities for me because I am already in the market to accumulate digital currency and gold bullion every day.

With my experience, I developed the knowledge and methods to use this cryptocurrency and use its power to continually build a wheel of wealth for gold.

The following points are the methods I use to accumulate bitcoin and gold bullion.

  • Find a company that sells gold bullion

  • Open the online bitcoin wallet

  • Start bitcoin mining or offline mining

  • Buy a gold bullion with bitcoin

The above are the basic steps to complete the process and require specific methods to be successful. I think this is the best bitcoin strategy to accumulate gold and deliver it to your portal every month.

Find a company that sells gold bullion

There are many online businesses that sell gold bullion on the Internet, but very few offer incentive programs when they become customers. You need to find a company that offers much more than just selling gold bullion. This company should offer quality products such as selling gold ingots in small sizes of 1 gram, 2.5 grams and 5 grams. Gold itself should be 24 carat gold, which is the highest quality you get. The incentive program should allow you to earn commissions when you direct people to the company.

Open the online bitcoin wallet

You will need a place to store bitcoin when you are ready to start in the cryptocurrency market. There are plenty of bitcoin wallets online for free for people. Look for a company that offers a bitcoin storage wallet and offline vault. There are a lot of hackers trying to get into the wallets of online users and steal all the bitcoin. If you store your bitcoin offline, you will never fall victim to online hackers.

Start bitcoin mining or offline mining

There are two main ways to get bitcoin. Mine bitcoin online or offline. Extracting Bitcoin online is much easier than offline methods and much simpler. I personally use two methods to test the profitability of each. It would be a great way to start joining an online bitcoin mining farm.

You have to be very careful in this choice, because there are thousands of scammers who say they have a bitcoin farm, but in truth they don’t. These guys create Ponzi schemes and steal from you as much as they can. There are also reliable and genuine companies with bitcoin holdings that I use every day.

You can extract bitcoin offline by buying a bitcoin miner, which is the computer hardware you set up at home. This hardware connects to the Internet and will start extracting bitcoin. This bitcoin will be automatically sent to the online bitcoin wallet.

Buy a gold bullion with bitcoin

When it comes to bitcoin every day, you need to follow very specific ways to buy gold bullion from the company you have chosen. You need to link your Bitcoin wallet to your visa card. This card should also be offered to you by the bitcoin wallet company of your choice. Use this card to buy gold bullion when you have enough bitcoin in your online wallet.

The above are the basic steps I use to make this process a success, and I have never looked back since I started.

Bitcoin is moving against all odors

As it is in vogue right now, I would like to announce that I will be launching my cryptocurrency next week.

Let’s call it “kingcoin”.

Nah, it’s too much for self-service.

How about “muttcoin”? I’ve always been a soft spot for mixed race.

Yes, it’s perfect – everyone loves dogs.

This will be the biggest thing since with fidget spinners.

Congratulations! Everyone who reads this will receive a muttcoin when my new coin is marketed next week.

I will distribute a million muttkoin evenly. Feel free to spend it wherever you want (or wherever anyone can accept it!).

What is that? Did the Target ATM say they wouldn’t accept our muttcoin?

Tell these questions that muttcoin has a handicap value – there will be only one million muttcoin. In addition, they support the full faith and credit of the 8 GB of RAM on my desktop computer.

Also remember that a decade ago a bitcoin couldn’t even buy a little chewing gum. Now a bitcoin can buy a lifetime supply.

And, like bitcoin, you can safely keep muttcoin offline away from hackers and thieves.

It is basically an accurate replica of the properties of bitcoin. Muttcoin has a decentralized cryptographic book with cryptography that is impossible to crack, and all transactions are immutable.

Are you still not convinced that our muttcoins will be worth billions in the future?

Well, it’s understandable. In fact, marketing a new cryptocurrency is much harder than it seems, if not completely impossible.

That’s why I think bitcoin has come to these heights face to face. Due to the unique network of users, it will continue to do so.

Of course, there have been delays. But each of these setbacks has ultimately led to higher prices. The last 60% drop will be no different.

The miracle of Bitcoin

The success of Bitcoin now lies in its ability to create a global network of users to connect to or store it later. Future prices will be determined by the rate at which the network grows.

Even in the face of wild price fluctuations, bitcoin adoption continues to grow at an exponential rate. There are currently 23 million wallets open worldwide, followed by 21 million bitcoins. In a few years, the number of wallets could increase, including 5,000 billion people on the Internet-connected planet.

At times, the motivation for new crypto converters was speculative; at other times, they sought a storehouse of value away from their home currency. Over the past year, new apps like Coinbase have made it even easier to introduce new users.

If you haven’t noticed, when people buy bitcoin, talk about it. We all have that friend who bought bitcoin and then didn’t shut up. Yes, I’m guilty of this – and I’m sure there are quite a few readers as well.

Perhaps subconsciously, holders become crypto-evangelists because convincing others to buy increases the value of their property.

Evangelizing Bitcoin – spreading the good word – has miraculously raised the price of the last $ 10,000 to $ 0.001.

Who could have imagined that its nickname creator, disgusted with the global banking oligopoly, had launched an intangible digital resource that matched the value of the world’s largest currencies in less than a decade?

No religion, political movement or technology has ever witnessed such growth rates. Once again, humanity has never been so connected.

The idea of ​​money

Bitcoin started as an idea. To put it bluntly, all money — whether it was money used by primitive islands, the gold bar, or the U.S. dollar — began as an idea. It’s the idea that a network of users values ​​you equally and would be willing to participate in something of the same value as your form of money.

Money has no intrinsic value; its value is external, only what others deserve.

Look at the dollar in your pocket: it’s just a one-eyed pyramid, a small portrait, and a wonderful piece of paper with the signatures of important people.

To be useful, society must see it as a unit of account, and traders must be willing to accept it as a payment for goods and services.

Bitcoin has shown a unique ability to reach and connect with a network of millions of users.

A Bitcoin is worth what the next person is willing to pay. But if the network continues to expand exponentially, limited supply says prices can move in one direction … it’s higher.

Bottom line

The nine-year rise in Bitcoin has seen tremendous volatility. An 85% correction was made in January 2015, and more than 60% in others, including a colossal 93% drop in 2011.

Through each of these corrections, however, the network (as measured by the number of portfolios) continued to expand at a rapid pace. As some speculators saw their value diminished, new investors with a margin saw the value and became buyers.

Abnormal levels of volatility are what really helped the bitcoin network reach 23 million users.

Hey, maybe we just need the price volatility of muttcoin to attract new users …