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Bitcoin

How to sell Bitcoin?

Charging your Bitcoins is not as easy as buying. If you decide to sell your Bitcoins online, you can do so through an exchange, direct trade or by conducting a transaction without an intermediary (peer-to-peer).

Out of the comfort of your own home, you can withdraw money using Bitcoin machines or sell your Bitcoins in person.

Bitcoin Exchanges

Despite several shortcomings, exchanges are a one-time solution when it comes to Bitcoin trading. In the case of cryptocurrency sales, exchange offices act as intermediaries who keep the funds of both the seller and the buyer.

First, you must open an account at the exchange of your choice. Most reputable exchanges will require full identity verification and an associated bank account so you can withdraw your funds.

Then simply set an offer to sell, stating the type of currency you want to trade, its quantity and the price you are looking for per unit. The exchange office will automatically complete the transaction when someone agrees to your offer.

Once the funds reach your account, you must withdraw them to a linked bank account. This can sometimes take quite a while, especially if the exchange has problems with its banks or is facing liquidity problems. A few months before the bankruptcy, the Mt. Gox exchange had this problem. Moreover, some banks simply refuse to process transactions with funds obtained through cryptocurrency trading.

It is also important to consider the fee you will have to pay to use some exchanges. For example, one of the largest cryptocurrency exchanges in the world, CEX.io, charges $50 for withdrawals via Bank Transfer, $3.80 if you withdraw your funds to a Visa card, and 1.2 percent of the transaction + $3.80 if you use a MasterCard. Withdrawal fees can vary drastically depending on the exchange office, but transaction fees are almost always either small or non-existent.

In addition, most exchanges will have a limit on the amount of money you are allowed to keep. The limit will increase over time if you remain loyal to a particular exchange.

Finally, it is important to remember that exchanges, whether or not they offer wallet services, are not a safe and reliable place to store your funds. They are very prone to hacker attacks, and there are also cases of exchanges that are shut down and leave with the user’s funds. Therefore, you should take full responsibility for your funds and put aside the amount you do not need immediately in your offline wallet.

Some of the best/most used Bitcoin exchanges in the world:

Cex.io

Coinbase

Buy Bitcoin Finder

Kraken

Direct exchanges

Another way to sell Bitcoin is to trade directly with another person. This service is available on sites often linked to exchange offices and includes an intermediary who facilitates the connection.

First, you need to register as a seller. In addition to setting up your profile, you need to fully verify your identity. Once you have registered, you can place an offer indicating your intention to sell Bitcoins. When a customer wants to trade with you, you get a notification from the service, and since then you are only interacting with the customer. The website only serves as a platform to complete the trade.

The process of selling Bitcoin on some of these sites can be quite complicated and time consuming. So, it is necessary to do research before you decide on a trading platform and be sure that you have the necessary time and patience.

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Bitcoin General

What Can I Buy With A Bitcoin?

Do you imagine buying anything with crypto, just like with real money?

Many of us had that thought. But if it were possible, wouldn’t it have happened already?

Real and cryptocurrency are different things, so that scenario is unlikely to happen. But did you hear about the exclusive privileges of Bitcoin?

BTC may be worth as much as the USD. Except that Bitcoin is in constant expansion and is volatile. Despite the risks, Bitcoin buyers enjoy certain benefits the average shopper will never have. Can you imagine what it is?

3 Things You Can Only Do Buying Bitcoin

Sure, Bitcoin can look attractive as a modern payment method. And so are hundreds of altcoins! If we trade with Bitcoin, there must be a valuable reason to do it other than trends. Because what makes Bitcoin better than, say, the dollar?

#1 Crypto Cash Back Rewards

You heard the saying. “The future is already here. Just not evenly distributed.” Bitcoin prices go up as more people join the market. The more we use crypto, the more prices go up. It’s offer and demand!

That’s why big brands reward you for buying from them with Bitcoin. You can buy the exact same product and get a cash reward.

Choose the product you want and buy it from a Cash Back website. If you buy using their link, you get free Bitcoins for using the currency.

Imagine you spent $100 this way. You would have put $100 and got, for example, $18 worth in bitcoin (which you can turn into dollars).

#2 Earning Potential

With cashback rewards, you buy a product and become a Bitcoin investor at the same time! Back to the example, those $18 you won may turn into thousands of dollars…or less.

Since you didn’t earn that money, there’s no real risk. But who wouldn’t like extra cash as a surprise? If we combine it with the cashback program, you get double rewards.

Using the same money. A no-brainer.

#3 You Diversify

Many people despise the volatility of Bitcoin. If it goes done, it’s not fun anymore. Did we mention Bitcoin transactions are permanent?

Now, real currencies aren’t safer either. Your money saved in the bank is worth less today than yesterday. It will be even less tomorrow due to inflation.

No matter how consistent a currency is. If you put all your eggs in one basket, your risk is maximum. If anything goes wrong (as happens every few years), your personal finances will suffer.

Then, should you buy Bitcoin? It’s not precisely stable, but it’s better than having only one currency. Many suggest keeping at least a tiny amount, something you don’t mind risking.

Can You Buy Anything You Want?

Sorry, but that won’t happen, at least in 2020. If anything was for sale with Bitcoin, everybody would use them to avoid taxes. And you can potentially double your money doing, well, nothing.

Everything has intrinsic value regardless of market perception. Bitcoin is so volatile that it would often misrepresent the true value of an asset.

Yet, some big brands manage to get over the obstacles and make Bitcoin available. But despite the efforts, Bitcoin has its limits, which is what makes it different from real currency.

Will it become a global currency? Who knows. All we know is Bitcoin is expanding and is here to stay.

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Bitcoin General Litecoin

Litecoin vs Bitcoin

Litecoin, the one that is putting up the fight

Being the first cryptocurrency in the market, Bitcoin (BTC) has marked the route for many of the currencies that continued to emerge. And many of these currencies that continuously appear try to offer changes to what Bitcoin posed in order to provide an “improvement” to the existing.

However, the vast majority remained in failure.

Litecoin (LTC) was one of the few cryptocurrencies that managed to propose solid differences that improved some elements of the Bitcoin system. To get to know the Litecoin project better, we will explore in this guide and tell you what are the differences that arise between when we compare Litecoin vs Bitcoin.

The limits in coin production

Like Bitcoin, within Litecoin there is a cap on the production of coins to guarantee a stable and controlled supply. In the case of Litecoin, the cap is set at 84 million coins, a number that exceeds 4 times the cap of the 21 million units of Bitcoin.

This cap was deliberately decided and focused on the idea that as Litecoin is a currency designed for small transactions, there should be 4 times more currencies in circulation compared to Bitcoin.

Block processing speed

When Charlie Lee released his project to the public, he explicitly mentioned the need for faster transactions than those offered by the Bitcoin network and, for that purpose, one of the points that needed to be worked on was the confirmations. In the case of Bitcoin, a block is confirmed in 10 minutes, which directly affects the speed of the transaction.

Charlie Lee stated that the Litecoin network could take a quarter in the process of confirming a Bitcoin block, the desired time was 2 minutes with 30 seconds for each block of transactions

Obviously, this speed in the confirmation of blocks was done by sacrificing security (or at least that was what Charlie Lee himself claimed from the beginning) although this would not affect so much since, in theory, Litecoin transactions would only be for small transactions.

Lee mentions that, if safer transactions are wanted, users could choose to do operations on the Bitcoin network with their 10-minute processing per block.

Another fundamental difference – that is generated by the speed at which the blocks are created -, is that within the Litecoin network a greater amount of “orphan blocks” is made by the speed at which transactions are carried within the network.

Orphaned blocks arise when two miners correctly solve a block, but, with a difference of very few seconds, generating two “correct” blocks within the network at the same height. The network will continue to generate blocks and use one of the two blocks as a base, leaving one of the blocks as an orphan. Then the miner that made this orphan block does not receive any kind of reward for his work.

Amount of coins produced per day

Let’s try to remember that, as a block of transactions is added to the network, a reward is released for miners who have worked on the coding and processing of that block. Now, in the case of Litecoin we can see that, by having faster block processing, there is also an increase in the amount of coins that go into circulation every day.

So that we can have the numbers, in the Bitcoin network about 144 blocks are produced per day while in the Litecoin network the production is raised in 576 blocks in the same period of time. When the blocks are generated at this speed, the Litecoin network puts 4 times more coins in circulation than what we can see in its Bitcoin counterpart.

With all this in mind, you’ll understand that Litecoin is a certainly different option from Bitcoin; Oriented to another type of use.

If you are interested in knowing more about how to own this cryptocurrency, I encourage you to continue reading the following section.

What are the best Litecoin wallets?

Litecoin is stored securely on your computer, tablet, cell phone or laptop. Performing operations with this currency is so easy, you just need to configure your wallet and start sending or receiving coins.

By maintaining full compatibility with the Bitcoin API, Litecoin is very easy to integrate into applications that already offer support for Bitcoin. One of the main advantages offered by the Litecoin network is the fastest transaction confirmation, making it the ideal currency to make small purchases.

Please check the following article to find the best option for your Litecoin Wallet.

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Binance Bitcoin General

How To Exchange Bitcoins To USD

Have you made money with Bitcoin? Great! Now it’s time to convert those coins into real currency, like USD.

Google “Bitcoin to USD,” and you will find dozens of exchange websites. It’s the most popular pathway out there.

For smart investors, this method is inefficient. Every time you move your money, the platform charges a fee, which makes active investing not viable.

Sure, you could buy and hold until you get the right timing. But there’s still a delay since you request until they make the transfer. By the time you convert to USD, the value will be different.

Then, what’s the solution?

You’re in luck. There are three methods for your choice to reduce costs. Today, you can exchange Bitcoin almost anywhere with a crypto wallet.

Bitcoin to USD – How To Exchange It Online

Apart from brokerage websites, you can trade with investors who are just like you. Although it’s not the fastest method, it will reduce transaction fees.

If you want to buy or sell right now, take a look at the top Bitcoin exchange platforms. For an extra cost, you’ll transfer funds in less than 15 minutes.

Like BTC-USD, you can convert Bitcoin to other altcoins, diversifying your investment. When you move larger amounts, always look to keep fees as minimal as possible.

For this reason, Binance has over a million users. For crypto exchanges, it charges 0,05%. Compared to Bittrex and Changely, that’s 500% cheaper!

Binance is the leading exchange app, which makes transfers fast and convenient.

You can use it to store your Bitcoins, convert them, and watch the crypto-market evolve in real-time, all at the same time.

The Most Efficient Way To Exchange Bitcoin

So you want to make as much profit as possible. The approach will change based on the game you play. Are you looking to make fast moves, or accumulate larger amounts? In other words, are you a passive or active investor?

Let’s start with the passive strategy, the most recommended model for the public. Once you save a big Bitcoin amount, you can do a peer-to-peer exchange. It’s slower but keeps fees as low as they can be.

Say you want to cash out 100$ worth in Bitcoin. In peer-to-peer, you find a person who wants to do the contrary, buy Bitcoin at $100.

There’re many sites to find trustworthy investors. You can either meet in person or trade online. You coordinate both payments, so you send Bitcoins to his crypto-wallet right after he pays the amount. Transfers range from ten minutes to an hour, but you save a fortune in fees.

As an active investor, you look for a balance between cost and time. Binance is perfect for this method. The cost is low enough to trade frequently and fast enough to get accurate sums.

If you day-trade, combine this method with the right trading equipment.

You can turn BTC into USD exchanging in countless of sites. The offer you choose will depend on your transaction volume and frequency.

Remember, you can lend the Bitcoins you don’t want to convert, so you make money from interests. You can always make your investment more efficient.

This post was written by Colleen Nguyen, freelance blockchain developer, Bitcoin trader and mother. In free time, she likes playing tennis, reading awesome books and wearing bitcoin shirts.

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Bitcoin General

Bitcoin Price History: How Much Has It Changed?

Bitcoin is attracting many new crypto-investors. Despite being volatile, it’s the most stable of the top 10 crypto-currencies. It’s been twelve years since the first Bitcoin exchange.

For the last 12 years, people have seen different trends. It changes so rapidly that it can be confusing to make a choice? When should you buy it? When should you sell?

Although the past doesn’t dictate the future, the market tends to repeat it’s patterns. Thus, you have the highest success chance if you understand the bitcoin price history.

How Has Bitcoin Gone This Far?

Bitcoin never stopped surprising investors. It’s grown steadily for most of the time. You can see on a graph it’s stayed on the same spot for many months.

The coin has never gone off the charts consistently. We’ve only seen it happen twice: December of 2017 and Jun of 2019.

For new players, it may seem like Bitcoin went big out of nowhere. The reality is, it never stopped growing. If we ignore the eventual spikes, we’ve never seen a negative trend.

In the worst case, Bitcoin bounced back from the market ceiling and kept the same value for long periods of time.

Then, what can we learn from its price history?

The Initial Price History Of Bitcoin

We’ve all heard it. “If you bought BTC in 2011, you’d be a millionaire today!” Like many others, Bitcoin was an emerging trend at that time.

The first stage you’ll see goes from the invention of Bitcoin until the first burst in 2017. It’s the first time people hear about cryptocurrencies in general.

Isn’t it strange? Until 2017, there weren’t any downtrends, counting from 2011. It was certainly the best to invest.

The reason for this is the popularity. Back then, BTC was in the Expansion Stage. Compared to 2020, nobody knew that Bitcoin existed.

In 2017, the crypto market got enough activity. That’s when we started to see the usual patterns of the financial game. The early birds, of course, made a fortune.

The Bitcoin Bear Market

Since 1900, bear markets have occurred every three to five years. When they come, these events last about a year. According to history, bear markets turned into 80% of the time.

What we’ve explained is what happened to Bitcoin next. After the “big crash,” Bitcoin started this negative trend. Prices weren’t going down, but neither going up. You could look at it as the market floor.

One year later, Bitcoin rises in the first half of 2019. Coincidental? No, predictable. At this point, investors have studied Bitcoin for eight years since 2011.

That’s more than enough to spot the long term pattern. Ignoring the spike, you see the slight upper inclination in the chart. That’s what we are experiencing in 2020.

Wrapping Up

For many reasons, investors prefer to stay away from crypto. They are popular for being the most volatile values in the market. But even if that’s true, you can still profit by studying its past performance.

Volatility is what makes it attractive for new investors. We love the idea of scoring a home run, even if the risk is notable.

All in all, Bitcoin remains stable and won’t go down anytime soon. No matter how much it skyrockets or crashes, the long term projection is likely to be good. Just like its history shows.

Related Links:

https://cointelegraph.com/bitcoin-price-index

https://cointelegraph.com/news/bitcoin-price-surpasses-9-700-to-hit-new-2020-high

https://99bitcoins.com/bitcoin/historical-price/

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Bitcoin General

Will Bitcoin Go Up Again?

Is there an upcoming trend in bitcoin? How much will crypto coins grow this 2020?

Some experts believe it has already started. Brian Armstrong, the founder of Coinbase, sets the prediction at 20K by the end of the year. John McAffee expects bitcoin to rise well over a million.

This October, the billionaire Peter Thiel invested over $20 million on new bitcoin mining technologies. Aside from these events, the global economy could influence as well. Here, Adam Back explains how USD inflation could raise the bitcoin price even more.

What makes this year different? Why are influential people getting into crypto precisely now? Do they now anything we don’t?

Bitcoin has generally gone up since 2017 despite the 2018 spike. But what if we in front of a new one? Most investors expect bitcoin to skyrocket even beyond the boom of 2018.

Will Bitcoin Go Up Again?

For new investors, these price changes are an opportunity. Once it goes up, it will be too late to get in, so how should you prepare? What’s the risk and reward of crypto?

The first clues of bitcoin growth came up this October. At this moment, Bitcoin grows at a rate of 20% per month. Although it reaches high values from time to time and bounces back, the price still goes up. We’ve seen this happening since December 2018.

Even if there was a crash, past records suggest it will get back up. Now that it’s accelerating, there’s not much time to reach. When will the explosive growth happen? You should expect it within the first half of the year.

What do crypto investors know about bitcoin?

Will bitcoin go up again? How can John McAffee be so confident about the trend? Until today, we’ve mined over 18 million bitcoins in total. By the end of May, the number could reach 21 million, which is the hard limit set.

Of course, value increases lead to a slower production. But what will happen once we reach this cap?

There’s no governance system to regulate cryptocurrency. Will we just stop producing more coins? Could we set a new production limit?

The final decision will depend on the crypto community consensus. Regardless of the result, this event would globalize bitcoin. More and more countries could recognize it as a real currency. World-class brands would use cryptocurrencies as the primary format.

In a few words, this could cause a dramatic increase in bitcoin. Here is where John McAffee’s prediction starts to make sense.

Now, this doesn’t deny the usual ups and downs of the market. Once the major event happens, investors will have little time to react before it goes back down and regulates.

When the value goes far beyond the expected “ceiling,” you should expect it to stabilize. For smart investors, those few days are more than enough to meet such an opportunity.

Final words on Bitcoin Potential

Bitcoin has grown slowly but surely despite occasional spikes. While most crypto coins are volatile, this one is the most stable. This consistency may be indicating the market “floor,” so Bitcoin is about to go up.

No matter how much evidence we gather, there will always be uncertainty. Luckily, today’s investors can prepare better for potential growth.

We saw a similar trend in 2018. What made Bitcoin go up, and how does it relate to 2020? Could we find patterns in other coins like Ethereum? If you connect the dots, you may find your opportunity before it’s too late.