Tag: Bitcoin

The Future of Cryptocurrencies and Should You Invest in Them?

We have already discussed about the history of currencies and the benefits of cryptocurrencies and blockchain, if you haven’t read them already, it is suggested that you do read them before you go ahead with this blog as it is required for you to understand everything written below.

The Future

Some of the limits that cryptocurrencies currently face – such as the fact that one’s digital wealth can be removed by a computer crash, or that a virtual vault may be looted by a hacker – may be overawed in time through technological developments. What will be harder to overcome is the basic paradox that bedevils cryptocurrencies – the more prevalent they become, the more parameter and government scrutiny they are possibly could attract, which corrodes the essential evidence for their presence.

While the number of merchants who take cryptocurrencies has gradually amplified, they are still very much in the minority. For cryptocurrencies to become more widely used, they have to first gain extensive receipt among consumers. However, their comparative complexity likened to conventional currencies will likely deter most people, excluding the technologically adept.

A cryptocurrency that seeks to become part of the conventional financial structure may have to content widely conflicting criteria. It would need to be mathematically intricate (to avoid fraud and hacker attacks) but easy for customers to comprehend; decentralized but with passable consumer safeguards and protection; and reserve user anonymity without being a conduit for tax elusion, money laundering and other reprehensible activities. Since these are arduous criteria to satisfy, is it likely that the most popular cryptocurrency in a few years’ time could have attributes that fall in between heavily-regulated fiat currencies and today’s cryptocurrencies? While that likelihood looks remote, there is little hesitation that as the leading cryptocurrency at present, Bitcoin’s success (or lack thereof) in dealing with the challenges it faces may determine the wealth of other cryptocurrencies in the years ahead.

Should You Invest in Cryptocurrencies?

If you are considering investing in cryptocurrencies, it may be best to treat your “investment” in the same way you would treat any other highly hypothetical venture. In other words, identify that you run the risk of trailing most of your investment, if not all of it. As detailed earlier, a cryptocurrency has no intrinsic value apart from what a buyer is willing to pay for it at a point in time. This makes it very liable to huge price swings, which in turn upsurges the risk of loss for an investor. Bitcoin, for example, plunged from $260 to about $130 within a six-hour period on April 11, 2013. If you cannot digest that kind of instability, look to another place for investments that is better matched to you. While belief continues to be deeply separated about the qualities of Bitcoin as an investment – factions point to its limited supply and mounting usage as price motorists, while detractors see it as just another notional bubble – this is one debate that a traditional investor would do well to evade.

A cryptocurrency that seeks to become part of the mainstream financial system would have to satisfy very wide variety of criteria. While that option looks remote, there is little uncertainty that Bitcoin’s success or failure in dealing with the challenges it faces may regulate the fortunes of other cryptocurrencies in the years moving forward.

History and the Future of Currencies

Our history book provides us with very little knowledge about how our economy came to be. This post aims to give an overview of how the currencies that we know of today, have evolved and go in detail on digital currencies the present talk of the town and what will become of these currencies. 

After a long period of time, historians, say that societies discovered that they found it safer and easier to exchange goods with goods- the barter system, instead of going into war with each other, frequently traded, between individuals or societies, for other goods were domestic animals like cattle and goats. With the development of farming in the 8th millennium grains were added to the list of exchangeable goods.

It is, only after the trade around the extraction of rich metals that the commodity currencies came to be used, the kingdom of Lidia on the western cost of Turkey is said to have crafted coins that were a mixture of gold and silver- “Electrum”. They were standard in weight; ranging from 0.15 grams to about 14 grams, in irregular shapes and sizes. Aside from Lydia, Greece and a few kingdoms and individuals from China that used coins for trade. The innovation of paper currencies, scholars say, can be credited to the Chinese, as they found it to be lighter auxiliary for coins. The momentum of paper currencies took its time to reach Europe. By 1661 banking institutions had been formed and the government of Sweden issued its own state sponsored banknotes. Further to which the Bank of England was formed. From then on various different world currencies came to use and various laws and policies were created to keep counterfeit and various frauds from taking place.

Subsequently, Paper currencies were normalised and newer technologies have come into play to make transactions easier, digital currencies and E-wallets like PayPal and others are some innovations that are playing a major part in reducing paper currencies in the 2010s.

The initial idea for digital cash, even though a failure, in a way paved the path for the cryptocurrencies to come into existence, people have taken a keen interest in its growth and market, with multiple use cases for them, making it the best time to invest and use cryptocurrency, through your digital cryptocurrency wallet. The blockchain technology that cryptocurrencies are formed in make transaction and trading much safer than that conducted through a bank.

If we went with the idea that “History repeats” we could assume that cryptocurrencies are just the beginning in what will be an economic revolution, where we could expect digital currencies that are far more stable will take the crown from bitcoin. As far as blockchain is considered we could see that the currencies of the future will mostly be utility based where there is no centre that regulates the supply of currency and its value, eliminating the possibility of an economic calamity. All this, however, is possible only with the mainstream usage of the present unit of the beginning stage of the evolution, that is cryptocurrency, this can be achieved only by educating the masses on the benefits of the blockchain system and cryptocurrencies.

Benefits of Blockchain Technology and Cryptocurrency

To understand the benefits of the Blockchain Technology and Cryptocurrencies its important for us to understand what they are, This Article aims to provide you with all the information that you need to understand each of these are.

Understanding Blockchain

A Blockchain is, in the simplest of terms, a time-stamped sequences of unassailable record of information that is managed by cluster of computers not owned by any single entity. Each of these blocks of data (i.e. block) are protected and bound to each other by means of cryptographic values (i.e. chain).

The blockchain network has no central authority — it is the very definition of a democratized system. Since it is a shared and unassailable ledger, the data in it is open for anyone and everyone to see. Hence, anything that is constructed on the blockchain is by its very nature transparent and everyone involved is responsible for their actions.

Benefits of The Blockchain Technology

Blockchain is taking the world by storm and for good reason! There are plenty of benefits that come with using the technology in place of other current systems. Some of the major benefits that are connected with blockchain consist of the permanence and safety of the data that is stored on the blockchain’s ledger, the continentality and privacy maintained by users of a network with blockchain technology, the lack of a “middle man” due to the peer-to-peer nature of blockchain, the freedom provided by decentralization, the security that comes with distributing the blockchain across all users of the network, and the lower transaction fees that stem from using the efficient technology. Generally, it is quite simple to see why blockchain has managed to become so popular.

Here are some key benefits:

Understanding Cryptocurrency

A cryptocurrency is a digital currency that is created and managed through the use of advanced encryption techniques known as cryptography. Cryptocurrency made the leap from being an academic concept to (virtual) reality with the creation of Bitcoin in 2009. While Bitcoin attracted a growing following in subsequent years, it captured significant investor and media attention in April 2013 when it peaked at a record $266 per bitcoin after surging 10-fold in the preceding two months. Bitcoin sported a market value of over $2 billion at its peak, but a 50% plunge shortly thereafter sparked a raging debate about the future of cryptocurrencies in general and Bitcoin in particular.

Benefits of Cryptocurrency

  • Fraud: Cryptocurrencies are digital and cannot be copied or upturned randomly by the sender, as with credit card charge-backs.
  • Identity Theft: When you give your credit card to a merchant, you give him or her admission to your full credit line, even if the transaction is for a small amount. Cryptocurrency use a “push” machinery that allows the cryptocurrency holder to send precisely what he or she wants to the merchant or recipient with no additional information.
  • Immediate Settlement: Acquiring real property characteristically involves a number of third parties (Lawyers, Notary), delays, and payment of fees. In many ways, the bitcoin/cryptocurrency blockchain is like a “large property rights database,” says Gallippi. Bitcoin contracts can be designed and prescribed to eradicate or add third party approvals, reference external facts, or be completed at a forthcoming date or time for a portion of the expense and time required to complete traditional asset transfers.
  • Access to Everyone: There are approximately 2.2 billion individuals with access to the Internet or mobile phones who don’t presently have access to traditional exchange systems. These individuals are primed for the Cryptocurrency market.
  • Lower Fees: There aren’t usually transaction fees for cryptocurrency exchanges because the miners are compensated by the network (Side note: This is the case for now). Even though there’s no bitcoin/cryptocurrency transaction fee, many expect that most users will engage a third-party service, such as Coinbase, making and maintaining their own bitcoin wallets. These services act like Paypal does for cash or credit card users, providing the online exchange system for bitcoin, and as such, they’re likely to charge fees. It’s interesting to note that Paypal does not agree to take or transfer bitcoins.

Now that you have a fair understanding of what blockchain and cryptocurrency are and their benefits, get your hands on some XcelToken Plus and start trading it on one of the 14 exchanges that it is listed on!

Four Of The Best Crypto-Trading Bots

In our previous post we have learnt and understood what crypto-trading bots do and what you as a trader should be looking for while choosing a trading bot. If you haven’t read the blog, it is advised that you do so before you read about the various trading bots mentioned below:

Zignaly

This is a trading bot that is still in its development stages. However, you can still use the beta version of the app for free and make great profits from using the bot. Even though it is a new contestant to the trading bots industry, it has accomplished to win over the hearts of many crypto enthusiasts. The main reason for its prevalent fame is the transparency provided by this trading bot. Unlike other trading bots whose developers don’t share many details on how to contact them, Zignaly prides on the developer’s sincerity to the community. Users of the bot can easily connect with the developers of the bot in case of any issue that they face or even provide them with suggestions to add more features to the bot. Either way, being in touch with the developers offers a sense of trust. On top of all this, the bot also permits users to device their own modified trading strategies. Thus, giving litheness to the more practiced traders as well.

Cryptohopper

This might be a new bot in the crypto trading market. However, this novice has managed to turn heads due to the wide array of features that this bot offers. One of the downfalls of most trading bots is that they run on your local machine. This means that they run only when you have turned on your PC. With the rise in curiosity for cloud-based technologies, Cryptohopper uses cloud technology to keep the bot running 24/7. By running the bot on a cloud, users will be able to place trade orders even during the night. Thus, no chance is missed. Another key reason that led to the rise in renown of Cryptohopper is its ease of usage, particularly for the novice. The bot has unified with an external trading signaller. This means that anyone can start using this bot by running it on autopilot. This is a boon to the new traders, who need not fear afor setting trading signals for their bot. The bot also lets more skilled users mess around and set their own trading signals. Thus, satisfying the needs of both.

3Commas

Even though 3Commas bot is very new to the trading bot scene, it has been able to provide its users considerable gains, even during the crypto bear market. The unique feature that separates this bot from the other bots is its ability to trail any crypto market. This allows the bot to close the trade at the most profitable position even though the target gain set by the user had already been reached. This feature helps immensely during the crypto bull run.Additionally, the bot also allows users to trade multiple cryptocurrencies at the same time. Thus, not missing out on any good trading opportunity that comes along the way. The bot is set up on the cloud and is accessible through the website. This means that the bot runs 24X7. The bot can be configured with Binance and Bittrex right now and more reputable exchanges such as BitFinex, Poloniex, KuCoin, etc will be added soon.

Gekko

This is the most versatile cryptocurrency trading bot in existence right now. For anyone who wants to learn a thing or two about trading bots and not spend any money buying one, then Gekko is the bot for you. The Gekko trading bot is an open source bitcoin trading bot project that is accessible for anyone to use for free. The fact that it is free to use is the main reason for its wide popularity. Like any other open source projects, Gekko is free of almost all bugs and even the ones the pop are repaired up at lightning speeds. The Gekko bot can relate with several exchanges, including Bitfinex, Poloniex, and BitStamp. The bot uses a web interface to interact with the users and can run on a local machine with Windows, Linux or the Mac OS. The bot comes pre-configured with some trading stratagem. You can begin using the bot on autopilot as soon as you install and arrange it with an exchange. However, if you would like to use your own trading strategy, the bot also allows you to construct it to your liking.

Pick a crypto-trading bots that suits your needs the best and use it on one of the 14 exchange platforms that XcelToken Plus is listed on to make profits, with a touch of a button.

Common Mistakes to Avoid While Trading Cryptocurrencies

Many people are now making their way into the world of cryptocurrencies. What attracts them here, simply put are the, excessive amounts of opportunities that the crypto-world has to offer (privacy to profit).  Trading beginners tend to be very inquisitive when it comes to cryptocurrency trading. Trading is a type of activity that involves work to extract profits from the trading process.  It is essential to develop specific qualities necessary for achieving high competence, particularly, a very analytical and attentive mind.

Those that are new to the crypto world hoping to earn a difference in the exchange rate without putting in much efforts. However, the reality is something that is completely the opposite this makes armature traders extremely disappointed in this kind of activity. Below is a list of common mistakes to avoid while trading cryptocurrencies:

  • Keeping yourself uninformed will be catastrophic

Anyway, it is you who will spend your money on purchasing cryptocurrencies. If you do not understand the product and its value, but only listen to “experts” from Medium, Twitter or Slack, who tell everyone when to purchase and sell currency, you will get into big trouble and lose a lot of money. If your decision to buy a currency hinge on on the opinion of someone else, then you will have to rely on this view and when selling. Explore the marketplace in which you work.

  • Don’t put in money that you cannot afford to lose.

As an example, we will bring to the deposit all your available savings, or, especially, loan funds. Not a single person is covered against failures and errors; even professional traders often bear significant financial losses. The stories of newcomers who succeeded not to make any of the typical mistakes at the beginning of the trade route can be called anomalous, or at least unlikely, with independent trading from scratch. Mistakes must be made (not intentionally, of course) because learning from their mistakes is much more effective than on others – this is a characteristic feature of obtaining practical knowledge. The best thing you can do before the start of exchange trading is to minimize the consequences of initial errors in advance. The rest will come with time.

  • Do not make decisions based on emotions and mis-information

Admittedly, avoiding this mistake can be difficult, especially if you follow the news from the world of cryptocurrency on Twitter with messages like “ABOUT THE LORD, THE COURSE IS GROWING ALL BUYING” or “So it seems that bitcoin has come to an end, it’s better to sell. “Let there be some truth in these reports; it is materially impossible to follow everything at once and, in general, the most patient ones still win. No one in Telegram chats will spread REAL insiders (private information about the prospects of pricing); moreover, even advertised paid channels often give more erroneous information than true. Rely primarily on your experience and recheck the incoming data. And, if you have a plan of action, thought out in advance, it can be fatal to depart from it by shifting moods.

  • Refrain from selling your coin at peak values

“This is not the maximum, hold and do not sell,” advised experienced investors. The point is that you never know how much a particular token will grow. For example, if you bought bitcoin for $100, you probably experienced an incredible desire to sell it when it jumped to $ 1000. But today you would have regretted it a lot: the ether is already trading above $ 9,000. For selling cryptocurrency, you need a strategy. Set a goal and strive for it, no matter what. Yes, with the fall of the market it will be incredibly difficult to look at how money flows. But is it worth to panic and sell everything at once? The answer is one: no.

  • Refrain from buying cheap coins without knowledge of the currency

Even before investing funds, it is clear how the currency will develop. If this is not a risky investment, then it is necessary to calculate what the result will be from the investment. A coin can develop, but it can be a fraud. You cannot invest money in currency, just because it is cheap. Many inexperienced users are used to thinking that most of the altcoins with a small price are merely underestimated. This is because there are already many stories of sudden growth in value. But this is not so – not all of the cryptocurrencies are profitable.

  • Security

This, perhaps, is the most serious error possible in the crypto- community today. Hundreds of millions of dollars were lost because people trusted all their data to a stock exchange that was hacked, or to a service that stopped working. With the development of technology, scammers and hackers do not stand still and where money is free, without sufficient control, those sin for them not to take. Even if you have a little money now, and even if you did not plan to stay in the trade for a long time, you should carefully approach the security of your data: two-factor authentication, use of individual computers, data encryption – are mandatory. You need to write down all your passwords, secret keys, print them and hide in a safe place. Thus, if something happens to your computer, you can restore everything to another device.

  • Fear of Missing Out

Fear of Missing Out. It manifests itself in situations such as the early sale of an asset due to fear of losing profits, buying at the maximum because of the feeling that you are missing something important, or the fear of misplaced a promising ICO, which is why you are capitalizing in dubious projects. It is the fear of losing the profit most often and leads to the fact that we drop profit. Getting rid of FOMO is tough, but you can fight it. To do this, create a set of rules for trading on the stock exchange or choosing a project, as well as limits on the possible allowable losses and profits. Be above it. It is important to understand that new opportunities in the world of cryptocurrencies appear every day, so relax and let this fear retrocede.

Endurance is the key to trading in cryptocurrency. Do not be afraid to slip any deal – the marketplace is so big and ever developing that there will be sufficient money for everyone. However, make sure you remember that it is easy to make profits on the market, but it’s hard to keep what you have made. Do not let greed and greed get over yourself. Follow this list of mistakes that people make while trading cryptocurrencies so that you can stay ahead of the game.

Best Cryptocurrency to invest is XcelToken Plus

Blockchain technology has endless possibilities which opened many doors across many industries in its application to improve processes. Payment processing and money transfers are cheaper. Transactions are more secure and contracts are made smarter. Its adoption is widespread, so it’s not surprised that Blockchain technology becomes commonplace in everyday processes you encounter on a daily basis.

Many opportunities are open for users XcelToken Plus – ERC20 token on the Ethereum Blockchain Platform that is fashioned to build, involve and foster a large crypto-community within the hospitality, retail and gaming sectors. Keep reading if you want to know more about token adoption and perspective investment.

As you may already know XcelPay – merchant POS, digital payment wallet and crypto payment gateway. XcelPay is integrated into an easy to use, crypto wallet that is enabled for both mobile and tablet use, makes sure that sending and receiving payments in crypto is a secure process.

XcelPay aims to cut out bank/card transaction fees, currency conversion fees that produce a damaging effect on the retailer’s and consumer’s margins, making this a shopaholic’s ultimate companion.

But the most interesting fact about XcelPay is that users can now top up their mobile phone plans with 900 different carrier services and in 160 countries, with Ethereum and XcelToken Plus.  

Social media platform Bitnare referred XcelToken Plus that allows for the people of the crypto-community to network with each other within on a higher level. XcelToken Plus is also a referred token on XcelGames where the player can collect coins on the game and convert them into XcelToken Plus. The app is available for both IOS and Android devices.

Hop on to any of these sites or apps to start using your XcelToken Plus and reap the benefits of utility token adoption system.

Cryptocurrency Trading Strategy: The Balanced Portfolio Strategy

XcelToken Plus is an ERC20 token on the Ethereum Blockchain Platform that is created to build, engage and foster a large crypto-community within the hospitality, retail and gaming sectors. XcelToken Plus is now available on 14 diverse cryptocurrency trading platforms where you can use the below cryptocurrency trading strategy:

If you need balance in your life this may be the best cryptocurrency trading strategy for you. A balanced portfolio strategy comprises of buying numerous cryptocurrencies, for the same volume across the marketplace.

Say you invest in-

Litecoin

Bitcoin

XcelToken Plus

You have a budget of $900. You’d invest $300 into each coin allocating your asset evenly. This way you’re distributing the risk across the board.

This is a good way to test dissimilar coins, when you’re uncertain of which ones will do well for you or not. You’ll rapidly find out which currencies have the best shot in succeeding. From there you may want to only invest in one or two coins that have given you the lion’s share of profit.

The only disadvantage to this approach is that, for example, one of the coins produces a 10% gain while the other two lose 5%, you would be stuck with no profit, however this is rarely the case. Of course this would work in inverse the opposite could happen as well, so again, you’re fundamentally scattering out your risk across several coins with this approach.

Tip: Make sure each coin you invest in are utilize diverse utilities. For example: one privacy coin, one security coin, one equity coin, etc.

Use the unbalanced portfolio strategy a good cryptocurrency trading strategy while trading with XcelToken Plus on any of the 14 platforms that it is listed on.