Category Archive : Bitcoin

Bitcoin

Does Bitcoin Have a Fundamental Value & What Is It?

In October 2021, bitcoin reached its peak point so far. For the first time in bitcoin price history, its value exceeded $66,000, which made analysts predict that this number would reach $100,000. This did not happen, though, and at the moment of writing in late December 2021, the bitcoin price stands even lower than its peak point, at slightly less than $52,000. So, the question — is bitcoin a good investment? What is its fundamental value, if it has any? To answer that, we should dig into some finance basics first.

Fundamental Value Concept in a Nutshell

In finance, fundamental value means the return on investment on assets. Simply put, if you have a cow, its fundamental value is how much milk it gives minus the money/work you spend on feeding, watering; in other words — maintenance. Renting an apartment is another good example — its fundamental value is the rent you get minus maintenance expenses.

That sounds pretty simple if we put it this way, but the practical reality is always a bit more complex. In our example of cows and apartments, another thing to consider is how you’ve gotten both assets — did you buy it (add to expenses), inherit, find in the woods? Just joking, but the point still stands. This already diminishes fundamental value because cows and apartments cost money, and both have their own (shelf) life.

Still, the most important factor that defines the fundamental value of anything, from cows to bitcoins, is market demand. When everyone in the area lives a vegan lifestyle, cows have no fundamental value because no one will buy your milk or meat. Apartments have their specifics, too — if it is next to a spaceport, the next Firefly launch will render it pretty much useless.

The same logic applies to national currencies and cryptocurrencies like bitcoin, even though they have differences.

Evaluating National Currencies

money

Ok, so we use paper money and credit cards today — do paper sheets and digital numbers have any real fundamental value now that the gold standard has been abandoned? Well, yes and no. Today’s fiat currencies are no longer backed up by a vault of gold and have more of a ‘reputation’ value. Sure, finance experts have six other parameters — scarcity, utility, divisibility, durability, transportability, and resistance to counterfeits — but in practice, it all goes down to demand and supply.

Money exists because people need a medium of exchange, and national currency value depends on the economic strength of the state issuing it. For example, people deem the US dollar valuable because the US has an advanced economy and supplies goods worldwide. Many people believe it will stay this way, so USD has value.

But what about bitcoin? Well, bitcoin worth also depends on faith, but with a twist.

Read more: Making sense of bitcoin, blockchain, and cryptocurrency in detail

How Do We Set a Bitcoin Value?

Unlike gold, bitcoin mining is not so tangible, so setting a value on it is pretty tough. This cryptocurrency is not backed up by any real-life assets, which makes it no different from any other national currency — except that bitcoin is not backed up by governments and economies either. Simply put, bitcoin is a private fiat currency. But what makes it valuable then?

Bitcoin trading, pretty much like everything else, relies on demand. As a medium of exchange, bitcoin has some features in common with national fiat money. Its supply is, arguably, not endless, so bitcoin has a scarcity feature; it can be divided into more decimals than most national currencies; bitcoin is tougher to counterfeit than most currencies, and it is definitely durable and transportable.

But what about bitcoin utility — perhaps, the most realistic indicator of money’s worth? To make bitcoin truly worth something, people will actually need to start making cryptocurrency transactions in exchange for something else. So far, this aspect lags behind because the only state that accepts bitcoin as a medium of monetary exchange is El Salvador. At the same time, USD remains just as valid there, and after bitcoin was acknowledged as a valid currency, massive protests surged.

On a corporate level, many online platforms support bitcoin payments already, but the only major company that accepted it in exchange for tangible goods was Tesla. Was. Because Elon Musk’s company abandoned its bitcoin practices less than two months after initiating them.

So, Is Bitcoin Valuable?

dust

Bitcoin news exploded after the currency reached its peak value in October 2021. However, its further value has not reached an estimated $100,000 prognosis so far. Curiously, analysts also attempted to estimate the real bitcoin value based on the total amount of monetary mediums of exchange (cash, digital assets, gold, etc.) The latter stands at $52.1 trillion, but another issue arose — how do we set money valuation? Especially given that money valuation (that is, an agreed amount of an asset’s estimated worth) is as intersubjective as currencies’ fundamental value?

If we think of bitcoin as digital gold that is not endless, it has all the chances of becoming more valuable than gold because bitcoin is supposedly more scarce. That, however, does not explain why the bitcoin price, after reaching $64,000 in April 2021, dropped to $30,000 next month. In other words, it’s not always about scarcity and supply — it is about demand.

Will bitcoin demand persist? No one can say for sure now especially given multiple bitcoin enthusiasts and promoters. Still, unless people actually start using this cryptocurrency as a widespread payment method, bitcoin futures are not so bright.

Check out: What You Need To Know About Bitcoin Taxation: How To Avoid Getting In Trouble With The IRS

Bitcoin Taxation

What You Need To Know About Bitcoin Taxation: How To Avoid Getting In Trouble With The IRS

It’s no secret that cryptocurrency investors are sitting on high profits, given that this year Bitcoin and Ethereum gained 100% and 470%, respectively, according to a report on Barrons. As crypto owners continue to create wealth from bitcoin profits, they need to prepare for the new tax laws. Undoubtedly, Washington DC sees the crypto industry as a vast and growing new source of collecting tax revenue. In fact, in the infrastructure bill signed by President Joe Biden recently, congress added several tax-reporting standards for crypto businesses and brokerages.

Additionally, the government expects to raise approximately $28 billion in ten years through monitoring and taxing cryptocurrency transactions. It also aims to crack down on crypto owners who under-report their gains. So, if you’re looking to invest in Bitcoins, ensure you know all about cryptocurrency taxation to reduce the risk of hefty penalties for non-compliance. Read on to learn more about bitcoin taxation and how to avoid getting into trouble with the IRS.

Understand What The New Law Changed

Based on the new infrastructure expenditure package, digital wallets and decentralized platforms for trading and lending cryptos will have to report tax information to brokerages like Coinbase. These brokerages will then provide the IRS with tax forms highlighting detailed transaction records of clients, the same way bond and stockbrokers do. Typically, crypto brokers will have to provide clients’ names, addresses, and contact details. They’ll also have to state their customer’s gross proceeds from crypto sales, including capital gains and losses. Even more interesting, individuals who receive over $10,000 will be required to disclose the sender’s identity. This regulation is similar to the anti-money laundering law for cash transactions exceeding this amount.

Bitcoin And Other Cryptos Are Considered Property

Cryptocurrency tax laws can be complex, but complying with IRS regulations isn’t all that difficult. As a crypto investor, you need to learn how cryptocurrencies are taxed so that you can comply with IRS rules. As a rule of thumb, bitcoin isn’t treated as a currency but as property. This means that bitcoin is susceptible to capital-gains tax on net profits generated from a sale. Ideally, if you sold bitcoin by trading it on the exchange market or cashed out to purchase goods or services, you’ll likely owe taxes. Note that you’re subject to taxation if the value you sold bitcoin at is greater than the initial price you acquired the bitcoin (realized value).

Depending on the realized value, you may be liable to a capital gain that’s taxable at short-term or long-term rates. Short-term capital gains tax applies to bitcoins sold within one year of acquiring them, and they are taxed like ordinary income, with rates ranging from 10% to 37%. On the other hand, long-term capital gain tax rates range between 0% to 15% and 20%. For taxpayers with more than $200,000 in investment gains, a surcharge of 3.8% is added to their long-term capital gain tax. Another aspect regarding crypto taxes you need to be aware of is tax liability linked to bitcoin mining. When you acquire bitcoins through mining, the value becomes taxable immediately, meaning you don’t have to sell your digital currency to owe taxes.

Record-Keeping Is Critical

Tracking your cryptocurrency transactions is key to ensuring you stay on the right side of taxation rules. With this in mind, keep records of the fair market value of your bitcoins when you bought or mined them. Likewise, you need records of the market value of the virtual currency when you traded it on the exchange or used it to buy goods or pay for services. When you have accurate details of your cryptocurrency activities, calculating your bitcoin taxes becomes quite easy. However, your crypto transaction records might not be readily available. In a typical investment market, your stockbroker sends a 1099-B form that shows your transaction costs.

But when trading with bitcoin, it’s likely that you won’t receive a Form 1099-B, one of the key reasons many crypto investors are unaware of their bitcoin tax obligations. As a result, they end up getting into trouble with the IRS. While a form 1099-K may be issued if you make payments worth $20,000 and record 200 transactions annually, you must meet both transactions. In most cases, crypto investors don’t transact 200 bitcoins. Nonetheless, you’ll still be liable to taxation, whether you meet the threshold or not. It’s worth noting that the Internal Revenue Service won’t take pity on you if you fail to pay bitcoin taxes, even if it was an honest mistake. Therefore, make it a habit to record your transactions and organize your paperwork.

Bitcoin Theft Has Negative Tax Implications

Losing bitcoins due to theft is frustrating. And while you have been able to deduct stolen bitcoin from your taxes before, you can’t under the new tax laws. That’s because the new taxation rules don’t allow taxpayers to deduct property losses. Another IRS rule that doesn’t seem favorable for digital currency owners is the like-kind exchange. This activity entails trading multiple types of property for the same kind of property without incurring taxes immediately, something the Internal Revenue Service has allowed investors to engage in for decades.

Before implementing the new crypto tax rules, bitcoin owners inquired whether they could participate in a like-kind exchange with other virtual currencies. The response was unclear because of whether one digital currency was like-kind to another crypto. Currently, the new tax reforms limit like-kind trading to real property only. This means you can’t trade personal goods under like-kind exchange.

There’s Tax Relief For Bitcoins

Bitcoin taxes can be stressful, but fortunately, you can deduct capital losses on cryptocurrency like you would when trading stocks and bonds. Bitcoin losses can help offset other capital gains from your sales. Remember, once you have calculated your gains and losses, you can only write off crypto losses of up to $3,000. Given that bitcoin prices keep fluctuating, you’ll likely incur losses. All you need to do is declare your losses on tax returns to increase the chances of reducing your bitcoin tax rates. Failure to file your bitcoin taxes can result in fines and penalties. The IRS might also choose to conduct an audit. So, whether you have had capital gains or losses, make it a habit to report your crypto transactions.

Crypto Gifts Are Taxable

If you give bitcoin to a friend or a younger relative, the IRS will treat the gift like any other. This means your crypto gift will be taxed, more specifically if it’s worth more than $15,000. When the time comes for the recipient to sell the crypto gift, the price basis remains the same as the givers. However, there are several ways you can avoid the gift tax. For instance, instead of gifting funds, you can use bitcoins to pay directly for educational or medical expenses.

Cryptocurrency taxes can be tricky, so you’re likely to get into trouble with the Internal Revenue Service in various ways. For this reason, it’s important to understand that you may owe taxes if you own or carry out transactions using bitcoin, and that’s because the IRS considers cryptocurrencies as property. Another way to ensure you comply with crypto tax laws is to keep bitcoin transaction records and declare losses when filing tax returns.

Gift Cards To Bitcoins

Prestmit: Convert Gift Cards To Bitcoins Instantly

When Bitcoin is surging more than ever, the more ways to acquire it the better. There are a lot of ways to trade it with other values. A gift card is a prepared money card common in the US, Europe, and other parts of the world.  And what could be a better option if we can trade our unused gift cards with ever-soaring Bitcoins, sound fair?

Starting in 1994, gift cards are gaining more popularity everywhere. In 2006, it emerged as billions of dollars worth of industry not only in the US but entire Europe. And also other parts of the world. And now almost every popular and stand-out brand gives gift cards to their customers-Apple, Netflix, Walmart, PlayStation, and countless other giants.

These are money cards with a stored value that is used for various purposes. It might be promotion by retailers, rewards for employers, or marketing purposes, but it gives delight to the receiver. It has value that can be utilized in buying whatever you want. Its scope is not confined to the banking industry but airlines, hotels, restaurants, and many other lucrative industries.

Gift Card to Bitcoin

Presmit is renowned for pioneering the art of trading gift coins for Bitcoins. It provides state-of-the-art solutions by making instant trade possible. Yes! you will get the cash in your account the moment after trading. Make most of the post covid booming online trading and cash your gift cards in the best way possible. Presmit is paving way for acquiring luxury bitcoin to kickstart your trading career. You are offered gift cards from all the big brands such as American express, google play, iTunes, Sephora, and many more.

IT’S VERY EASY!

P2P trading and marketplaces are getting the attention of the whole Commerce world. It’s because of the reason that the methods of trading are getting simplified and easy. Moreover, the platforms are also getting advanced with favorable user policies. Presmit is competing with the world because of its high-class services and next-gen solutions to the problems. It’s very simple to convert your gift card to Bitcoin without anything to worry about. The process is totally reliable, secure, and trustworthy for the traders. You don’t have to worry about instructions and guidelines, because it’s straightforward.

  • Register your account to the website and log in.
  • Choose and select the gift card you want to trade.
  • In return, select the bitcoins you want.
  • Instantly get confirmation and get the money credited to your account.

The Right Choice

The world of crypto is indeed the future of the trading currency. It’s better to have instant ways of cashing the valuables which you get for years of spending on giant brands. People around the world are investing their time and money in the brands in return for their products. Apple, eBay, Uber, and numerous top-notch brands become liable to reward their customers. And these valuable cards can be traded in exchange for crypto at the most favorable exchange rates. That’s why it can really increase your profits. Then why don’t you choose it instead of consuming it?

It WORKS Everywhere

Though the process takes mere minutes to complete the transaction, it’s worth it. The rates are increasing for exchange, and it’s expanding globally very fast. The convenient and accessible gift cards can be bought from any retail store. The P2P trade boom is taking the entire world to invest and spend more time and money into the crypto universe. And when the platform is trusted by people from every corner of the world. It makes sense to stop, see, and make the best out of the remarkable Presmit opportunities, including a gift card to Bitcoin conversion.

Read more: Behind the Best Crypto Gift Idea: Bitcoin Trophy

BTC-Trends Review

BTC-Trends Review – Is This Trading Platform Really Trustworthy?

BTC-Trends Review

There are a lot of legitimate brokerage firms present in the online trading industry, such as BTC-Trends, which help traders enjoy a seamless trading experience. If you’re having trouble trusting brokerages, this BTC-Trends review will help you understand what makes a trading platform genuine and trustworthy.

Trading was not as successful when it first started, and it only began to grow up after cryptocurrencies got famous. Because it was around that time that investors recognized the financial advantages of investing in cryptocurrency, and everybody wanted to try it at least once. As a result of the large number of traders who entered the market, it became overcrowded. This is due to the fact that traders require brokers in order to participate in the market. Most of those new brokerage firms turned out to be unreliable, so traders are right to be concerned about the possibility of being deceived. However, there are ways to avoid it. One of them is to investigate the broker you want to partner with, and this review may help you determine whether or not it is a reputable platform. And you can be confident in BTC-Trends because its aims have been verified via its stellar reputation. So take a look at this review and learn more about yourself.

Trading Platform

One of the things that every trader desires are the freedom to trade in the manner they want, which may include using their preferred device. Traders like to trade through their preferred device, whether it’s a desktop, laptop, smartphone, or tablet. What makes you think they won’t be able to achieve it? Admittedly, traders have rights, and BTC-Trends is a firm that supports this notion by offering such a sophisticated trading platform.

BTC-Trends choose a web-based platform because it is the most efficient option. So, if you’re looking for a flexible trading platform, BTC-Trends is your perfect option. Any device with internet service can access the trading platform. Another advantage of the web-based platform is that you won’t have to download and install any software or applications in order to trade. Alternatively, you can go to the website, register, and begin trading. Isn’t this the most practical method of trading? Why don’t you give it a shot with BTC-Trends?

Encryption

Because the internet is dangerous, and online trading is much worse, having encryption software is one of the most efficient ways to safeguard traders. When a trader first registers with a brokerage, the first step is to provide all of your personal information, which must not get into the hands of hackers. This is a point to worry about for some traders, particularly those who are security conscious. And, as I previously stated, using encryption software by a broker is a good type of protection.

So, what exactly is encryption? This software aids in the protection of data by transforming it into codes. If you’re concerned that attackers might well be able to obtain these codes, be assured that this is impossible because encryption ensures that the coding is invisible. That should reassure you that BTC-Trends is looking out for your greatest advantage, as all of your private details will be protected and safeguarded from unauthorized access. And the precise encryption that.

BTC-Trends use is two factors authentication, and knowing this should give you confidence that BTC-Trends is a completely safe place to be.

AML and KYC Policies

BTC-Trends also Know Your Customer KYC and Anti Money Laundering AML regulations. The purpose of following these policies is to ensure customers that BTC-Trends is a regulated platform that works under the regulatory bodies. Moreover, no money is involved in money laundering or terrorist funding.

Conclusion

I wish traders to have wonderful experiences and be self-sufficient. And it appears that BTC-Trends offers traders a variety of options for doing so. It brings several other benefits like cutting-edge technology that is ideal for today’s traders.

Read more: BitOpps Review – Why Should You Join This Broker?

bitcoin, blockchain, and cryptocurrency

Making sense of bitcoin, blockchain, and cryptocurrency in detail

Nowadays, most people have become familiar with the terms like bitcoin, cryptocurrency, blockchain, etc., across the world. These components might appear to be significant to the individuals working with cryptocurrency-based platforms. Cryptocurrency-based transactions are more secure, safe, and convenient compared to other traditional transaction methods.

Besides, online gambling and betting have become an efficient revenue-generating source for businesses these days. To create such a gambling platform for your business, you should have a robust knowledge of crash game source code. You can look at here now for best bitcoin gambling scriptand develop your own crash game source code.

Now, let’s take a look at some efficient information regarding bitcoin, blockchain, and cryptocurrency. Besides, you can take the help of your experienced financial experts to get your concept cleared.

What is cryptocurrency?

Cryptocurrency is a specific medium of trading currency, just like the US dollar or Indian rupee. But, the most crucial thing is that bitcoin is a digital currency in nature, and it utilizes special encryption techniques to manage the creation of monetary units. It collects several binary data to verify the transfer of monetary funds also. So, you will have to exchange real currency to avail cryptocurrency and access cryptocurrency-based online goods or services.

As per a source, almost 10000 different cryptocurrencies are available in the trade market at present. Besides, the usage of cryptocurrencies is frequently increasing as it enhances the value of money through initial coin offerings (ICOs).

The main reasons behind the popularity of cryptocurrency

Some of the foremost reasons for which cryptocurrencies are becoming so popular in the trade market are as follows.

  • There is a hype that cryptocurrency might appear to be the future currency. Hence, people are rushing to buy them and collect several cryptocurrencies before it gets more valuable.
  • Cryptocurrency takes out central banks from controlling the supply of money when these banks will try to turn down the value of money through inflation.
  • Cryptocurrencies work with an advanced decentralized technology and recording system. Hence, they are more secure than other relevant payment options.
  • Cryptocurrencies have no interest rates in their long-term acceptance.

The legality of cryptocurrency

Cryptocurrencies are legal in almost every country across the world except China, as they banned their usage recently. Although, its legality depends on the rules and regulations of each country. However, always keep yourself focused on protecting yourself from fraudsters while purchasing cryptocurrencies.

Read more: Day Trading Cryptocurrency: Best Success Strategies

Are cryptocurrencies good for investment?

The value of cryptocurrency may go up, but it might not appear to be beneficial for many investors as it does not generate cash flow. Hence, if you want to profit from cryptocurrency, someone has to invest more in the currency than yours. Therefore, in terms of stability and cash flow, do not rely on cryptocurrencies for future benefits altogether.

What is bitcoin?

Bitcoin is the most popular type of cryptocurrency that made its appearance in the year 2009. There is no need for any middle man or banks to complete the bitcoin-based transactions. The use of bitcoins is available in various hotels for booking rooms, purchasing in shops, online crash gambling games, etc. The bitcoin price has become so high since 2017, and its trading reached the top peak from then.

Why should you prefer bitcoins?

Bitcoins can be utilized to purchase stock incognito. Furthermore, international transactions with bitcoins are convenient and cheap as bitcoins are not attached to any nation or dependent upon any guidelines. Small startup businesses might take bitcoin into action as there is no need to pay for credit card charges. On the other hand, some people purchase bitcoins as an investment by hoping that their value might accumulate in the future.

How can you buy bitcoin?

You can purchase or sell bitcoins through various marketplaces named “bitcoin exchanges”. The interesting fact is that people can buy bitcoins using different currencies with the help of these marketplaces.

Some crash game platforms are available in the market that offer their users a chance to win bitcoins. These gambling games are pretty compelling and popular all over the world. If you want to create such a crash game gambling script, look at here now for bitcoin gambling script.

What do you mean by Blockchain technology?

Blockchain technology refers to a decentralized, distributed ledger technology that keeps the record of the source of a digital asset. The most important thing is that due to its inherent design, it is impossible to modify the stored data of blockchain. Therefore, blockchain technology has become one of the most legitimate disruptors for the top-notch industries regarding payments, healthcare facilities, data confidentiality, and cybersecurity purposes. Cryptocurrency utilizes that blockchain technology to track and secure every transaction within its premises.

To understand its working method most simply, you can take the example of Google doc. When we prepare a document and share it with other people, the specific document gets distributed instead of being copied or transformed. Besides, it establishes a decentralized distribution chain that allows everyone to access the particular document at the same time.

Read more: What is Blockchain Advertising? Guide to Crypto Advertising Strategy

Types of blockchains

There are four types of blockchain available.

i) Public blockchains:

Public blockchains are basically open, decentralized networks of computers that are accessible to the individual waiting to initiate or validate a transaction. Besides, the persons who validate transactions earn several rewards. Bitcoin and Ethereum are the two common examples of public blockchains.

ii) Private blockchains:

Private blockchains are not open like public blockchains as they have a few access restrictions. If anyone wants to join a private blockchain, they will need permission from its system administrator. These blockchains are centralized and managed by a single entity.

iii) Hybrid blockchains:

Hybrid blockchains are also known as Consortiums, are an amalgamation of private and public blockchains. They include both centralized and decentralized features.

iv) Sidechains:

The blockchain that runs parallel to the main chain is defined as a sidechain. It helps users to transfer digital resources between two individual blockchains. Moreover, it enhances the scalability and efficacy of the digital assets also.

Conclusion

Hopefully, our article has helped you get sufficient knowledge regarding bitcoins, cryptocurrencies, and blockchain technology. If you want to create a crash gambling platform, look at here now for bitcoin gambling script. For further assistance, feel free to contact us.

Related: When is the Best Time to Invest in Bitcoin

Best Time to Invest in Bitcoin

When is the Best Time to Invest in Bitcoin

Cryptocurrencies have been around since the 2000s and are starting to become a staple form of investment and payment. A recent report found that 106 million people around the world are using crypto because it is highly accessible. Another survey found that 34% of crypto traders buy and sell monthly while 33% do so weekly.

Because cryptos are new and unregulated, it may be daunting to add them into your investment portfolio, but this shouldn’t be the case. If you want to try your hand at becoming a trader, but are not sure when the right time to invest is, then here are some tips that you can use to kick off your crypto journey:

Use the Dollar-Cost Averaging Strategy

This is a strategy used by many people to only invest in small increments rather than putting all their money in at once. You can take advantage of prices dropping in anticipation that they will rise again, leaving you with a profit. This means that instead of finding a good opening, you jump right into the market without much risk.

You can do this by having a set amount of money you want to invest into crypto and buy cryptocurrencies during set periods. Timing is important when it comes to knowing when to purchase cryptos, but with this method, timing becomes a smaller factor. Rather than waiting for the right opportunity, you can invest whenever. This is a good strategy to try for newbies who want to be able to invest more for less.

Invest During the Initial Coin Offerings Stage

Initial coin offerings (ISOs), are cryptocurrencies you can buy before a company launches them onto trading platforms. This makes it possible for you to get them for cheaper prices as compared to purchasing them for retail value. For those who want to invest in crypto but aren’t willing to spend on currencies that are already priced high, then this is a great option.

It takes a bit of market research in finding what companies are creating new coins, but after that, it becomes an easier process of joining the exchange they trade on and buying in. The downside of doing this is that a company’s success is unpredictable. For instance, the Algo was expected to be a huge success upon release, and many people invested in it. But within its first three months of being on the market, its value fell by 94%. It is a risky investment but one that can pay off big in the long run.

Purchase When Money Flow Index Hits 100

money flow index (MFI) is something many traders use to analyze the market value of a cryptocurrency. It can typically tell you whether a currency is overbought or oversold and an MFI of 100 typically means the former. If you are not sure when to jump into trading, it is recommended to do so when the market reaches this value because it means that there is a higher possibility of triggering a profit. This is due to more people seeking to invest in the currency.

If you play your cards right, it is possible to sell your crypto for a higher price than what you originally purchased it for. Remember that it is still important to do your research on the movement of the market to know whether the market will have a bearish or bullish movement, so you make the most of your investment.

Cryptocurrencies are proving to be strong investments in an increasingly digital world. Before you decide to try your hand at trading, be sure to do adequate research on the market’s movement, and try to use these tips to get the most out of your purchases.

Related: Behind the Best Crypto Gift Idea: Bitcoin Trophy

LocalBitcoins Clone Script

LocalBitcoins Clone Script – Launch a powerful P2P Trading Platform

Cryptocurrencies are undoubtedly the most lucrative financial assets in the world. It offers plenty of benefits like decentralization, immutability, protection against inflation, and transparency.  Peer-to-Peer (P2P) trading is the new trend now.  It allows crypto buyers and sellers to directly exchange assets with each other. Importantly, P2P trading platforms like LocalBitcoins remove the role of middlemen. Hence, investors need not pay any commission for executing a trading deal.

LocalBitcoins is a well-known P2P exchange in Finland where users exchange their fiat currencies with the leading cryptocurrencies.  It functions based on an Over-the-Counter (OTC) trading mechanism.  Entrepreneurs can make a big mark in the crypto era by getting a customized LocalBitcoins clone script from a top-notch app development company.

What are some insightful stats about LocalBitcoins?

  • It witnessed a 500% increase in trading volume – from Senegal in the first 3 months of 2021. Investors from the West African country are using more mobile wallets for executing consumer-to-consumer (C2C) transactions.
  • LocalBitcoins got 30,000 new users from Nigeria – this year. 1000 new traders from Kenya register on its peer-to-peer trading platform every week. It receives around $3 million in trading volume from Kenya every month.
  • 10,000 new traders from Ethiopia joined – the LocalBitcoins P2P trading platform in 2020. The overall growth was 500% when compared to 2019.
  • Tanzania (10,000), Uganda (5000), and Somalia (2000) – are the other major markets where LocalBitcoins got new traders.

What is LocalBitcoins Clone PHP Script?

It enables 24×7 trading of valuable Bitcoins through a person-to-person mechanism. Interested crypto traders will get real-time information about the price of Bitcoin (BTC) in local currency, the minimum investment limit, and the names of the sellers. Trained developers utilize the Hypertext Preprocessor (PHP) programming language to establish the LocalBitcoins clone script. Entrepreneurs will benefit from cross-platform compatibility, flexibility, high scalability, quick processing of buy and sell orders, reduction in overall operating costs.

Read more: Is this the right time to Buy Bitcoins?

The core features of the LocalBitcoins exchange clone script

Buy Bitcoins option

Traders can purchase lucrative Bitcoin (BTC) from registered sellers. Investors can go through the reviews posted by other users about a specific seller. Later, prospective buyers enter two amounts (Amount of BTC they wish to purchase in Fiat currency and the total quantity of Bitcoin). Further, traders process the payment within a certain period.

Escrow protection

There is no chance of frauds or scams on the LocalBitcoins PHP clone script.  It is very useful if the buyer makes the payment and the seller does not release the required amount of Bitcoins. Crypto investors can contact the technical support team. They will release the needed BTC directly from the seller’s LocalBitcoins wallet.

Likewise, crypto sellers can protect themselves from dubious buyers. They should release the particular amount of Bitcoins only after getting the payment from the buyers.

Integrated affiliate program

Users get commission daily by referring new traders to the LocalBitcoins exchange clone script. They receive payments in Bitcoin (BTC) for each successful referral.  Registered affiliates will have to post direct links to individual web pages. The total commission increases if the referred person buys and sells Bitcoin regularly on the P2P platform. Further, traders will have to avoid misleading advertisements and spamming.

Sell Bitcoin facility

Bitcoin sellers mention details such as their name, payment methods, payment window (a few hours), price, and trading limits (lower and upper). Additionally, they can mention terms and conditions for the Peer-to-Peer (P2P) trading deal. Besides that, crypto sellers can share their WhatsApp numbers to resolve any queries faced by buyers.

Multi-layer security measures

A LocalBitcoins clone script implements several security steps for both buyers and sellers. It comprises measures like end-to-end encryption, login guard mechanism, OTP based verification, and two-factor authentication.

Provision of 24×7 technical assistance

Investors can approach the Help Centre for sorting out issues related to escrow protection, order processing, and payment execution. Cryptopreneurs can offer round the clock technical support via email, live chat, phone, and Twitter.

Read more: How to Easily Convert Bitcoin to Naira?

How do buyers and sellers process payments on the LocalBitcoins Clone PHP Script?

Crypto traders and sellers can execute peer-to-peer (P2P) transactions with ease on the LocalBitcoins clone script. They can utilize a wide variety of payment methods.  They can choose Immediate Payment Service (IMPS), M-Pesa, National Electronic Funds Transfer (NEFT), Paytm, Revolut, Single Euro Payments Area (SEPA), and Unified Payments Interface (UPI).

What are the different cryptocurrencies and stablecoins accepted for buying Bitcoin?

Generally, traders can utilize various cryptos for purchasing Bitcoin (BTC). They can process transactions through Bitcoin Cash, Cardano, Dogecoin, Ethereum,  Litecoin, Ripple, and Stellar.

Investors can protect themselves from fluctuations in the market by paying through stablecoins. They can execute payments via Tether (USDT), and USD Coin (USDC).

What are the various sources of revenue of a LocalBitcoins exchange clone script?

Buying and selling Bitcoin (BTC) is completely free on a LocalBitcoins clone script. Entrepreneurs mint revenue by imposing advertisement fees on buyers and sellers. Further, owners of the LocalBitcoins clone PHP script will earn sending fees.  It is paid by the traders when they transfer Bitcoin to other digital wallets. They pay the required amount directly from their LocalBitcoins wallet.

Besides that, the transaction fees for executing buy and sell orders vary depending on the level of congestion on the blockchain network.  Cryptopreneurs also pocket deposit fees when users receive Bitcoins to their LocalBitcoins digital wallet.

The total cost to develop the LocalBitcoins clone App

The total cost of creating the LocalBitcoins exchange clone script relies on multiple factors.  Generally, it depends on the choice of basic and premium features, cross-platform compatibility, the level of customization demanded by the entrepreneur, hourly/weekly charges paid to the front-end and back-end developers, the tech stack used, and the time allocated.

Further, entrepreneurs must incur more expenditure for our premium post-deployment services. We assist in fixing bugs and security loopholes, issuing software updates, maintenance of the P2P trading solutions, technical support, and third-party API integration.

Wrapping Up

Undoubtedly, LocalBitcoins is a fully secure crypto trading platform. It is highly credible when compared to centralized exchanges affected by data breaches, hacking, and phishing attacks. Moreover, many traders in Kenya, Nigeria, and Venezuela are buying Bitcoin due to the decrease in the value of their fiat currency.

Besides that, the daily trading volume of Bitcoin (BTC) is $21.83 billion as per CoinMarketCap. Above all, the crypto sector has a gigantic market capitalization of $1.42 trillion.

Importantly, the LocalBitcoins P2P trading platform will focus on strengthening its business operations across Asia, Middle East, and North Africa in the future. Hence, entrepreneurs can disrupt the global cryptocurrency industry now by obtaining the LocalBitcoins clone script. They can contact a trustworthy app development company to witness spectacular results in a quick time.

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right time to buy bitcoins

Is this the right time to Buy Bitcoins?

Bitcoins are basically digital currency stored in digital wallet, every time you do any transaction it is recorded in the form of blockchain.

These bitcoins can easily be converted into cash or you can also sell them for cash.

Anytime is the right time to buy bitcoins but you need to acknowledge the fact that the prices may vary in long term. The prices can be very volatile in nature but the bitcoins are stored in high security and relies on passwords, it makes it very difficult to be theft.

Monday, 28 June 2021 (GMT+1) Time in London, UK

To buy Bitcoins first, find out the crypto currency exchange providing you the best rates and tight security/privacy with other best features. In my knowledge bitglobals.com is the best exchange to buy or sell bitcoins, the reason is they are based on “ZERO TRADE FEES” and ZERO COMMISSION FEES which makes them different from others. This feature is not seen anywhere by me yet.

Also, while sending money internationally they deduct no money which means the same amount sent is received by the receiver, which again is a jaw dropping feature.

Bitglobals.com will also provide you a mastercard same like bank credit or debit cards which not just look same like bank cards but works exactly like the same way, means you can do online shopping with that, you can swipe that card in atm’s to withdraw cash or you can even send money through that and much more.

The wallet of bitglobals.com is the best and the most easy to access or user friendly for all.

Till now you might have been wondering about the best features but there is one more feature CASHBACKwhich dominates all of its other features. On every transaction you get a cashback upto 25% which is obviously by far the best feature, not only this, this cashback can be withdrawn from the bitglobals.com master card. In fact this cashback can be used to do other purchase.

So, even if you are wondering when to buy bitcoins, where to buy bitcoins or how to buy bitcoins do visit bitglobals.com once, and start investing you will never have to look back once being their user.

Bitglobals.com is by far the best cryptocurrency exchange to invest bitcoins or to buy bitcoins or to sell bitcoins, their “ZERO FEES” policy makes every user stay there forever. Also, the withdrawal on the same day is the another best thing on bitglobals.com.

Whenever in doubt so check the live prices of bitcoins on bitglobals.com.

Convert Bitcoin to Naira

How to Easily Convert Bitcoin to Naira?

Naira is the basic monetary unit used by Nigerians. It is the currency of Nigeria with the code NGN and is equal to 100 kobos. To regulate price stability and avoid scams, the Central Bank of Nigeria is the only authority that issues the Naira currency throughout the state and maintains a check and balance.

Technology has added great comfort to our lives. We can convert any cryptocurrency into our local currency and make a transaction to add it to our local bank account quickly. Bitcoin is the most common and the most luxury-grade cryptocurrency in the crypto space. It is also the most trusted and the most reliable cryptocurrency that is supported by many online businesses as a mode of payment. When it comes to converting Bitcoin to Naira, not only is it possible but also feasible. Thanks to the variety of crypto exchanges in the market.  They help to do such tasks in moments, thus saving our time and energy.

Nigerians can convert any amount of Bitcoin to Naira without any hassle. Currently, 1 BTC is equal to 14,051,737.40 Nigerian Naira.

| 1 Bitcoin to Naira = 14,051,737.60

One can convert Bitcoin to Naira conveniently by using various options like crypto exchanges and Bitcoin wallets. On exchanging 1 BTC, the candidate receives 14,249,224 Naira with six kobos.

Who can use a Bitcoin Account?

This cryptocurrency was designed for those entrepreneurs who are supposed to make online transactions quite often. An individual with a Bitcoin account does not have to possess a credit card. This is how a Bitcoin account adds convenience to your life.

Read more: The Best Bitcoin Wallets For Android In The Future

Step-by-step guide on how to convert Bitcoin to Naira and transfer funds

Here are given steps to help you convert any amount of Bitcoin to Naira with great convenience, efficiency, and effectiveness.

1)   Create a Free Bitcoin Wallet

To get started, the first and foremost step is creating a free Bitcoin wallet by using their official site.

2)  Sign up

You can sign up on Blockchain by adding your email to it and creating a solid password followed by agreeing to their terms and conditions.

3)   Account Verification

You must have received the confirmation message on your email account. Click on it and add the verification code, so your account becomes verified. This code identifies your wallet and is quite essential. You are supposed to remember it or save it somewhere, in case if you forget it, you don’t lose it.

4)  Crypto Wallet Set-up

It is mandatory to set up your Bitcoin wallet by logging in to the blockchain account. After that, the most crucial part is to protect your privacy. You may add a phone number for added security. In this way, you won’t fall prey to scammers and hackers.

5)  Adding funds to the Wallet

You might use a simple trick to add funds to your Bitcoin Wallet. Ask your friends or family if they have funds in their Bitcoin wallet, ask them to transfer the required amount of funds to your Bitcoin wallet while paying them manually by calculating 1 Bitcoin to Naira. If it works for you, well and good. Otherwise, use Nigerian currency exchanges to fund your Bitcoin wallet.

Bitcoin to Naira, Local Bank Transfer

If you want to send money to your relatives or friends living in Nigeria while you are based outside Nigeria, you just have to possess an account. This account must be linked to Bitcoin wallet providers, and then, you can easily use the service.

If someone is looking forward to withdrawing the Bitcoins into their local bank account, they can simply visit the home page. It would show an option of clicking on “More” under their BTC balance. Then, you are supposed to press the option that says “Instant Sell.” Following this, the amount is considered to be entered in BTC or Naira. The system will ask you to confirm the amount. After the confirmation process is over, you can go to NTN wallet and withdraw and receive funds in your personal account.

The exact process goes for crediting your wallet. Just connect your ATM card and add as much money as you want to the account. This is the simplest and easiest method of transferring funds straight to your bank account without doing anything on crypto exchanges that convert Bitcoin to Naira. This is a typical method used by most Nigerians. If you are unaware of it, do try!

Using Luno, is it worth it?

Typically, people in Nigeria prefer using Luno to transfer their BTC balance to their country’s bank account. Since Luno has a wallet for withdrawal, it is a safe and professional way when it comes to the transfer of funds. It is directly connected to an individual’s local bank account, and there is no third party involved. Moreover, it does not display Bitcoin in dollars the way other platforms are doing. It shows your BTC credit directly in the form of Naira. In this way, it becomes convenient for you to know what your current balance is even at a simple glimpse.

It is recommended to use the same name and email while getting registered on Naira. In this way, there will be no confusion, and you will continue to enjoy the delight of hassle-free service. The processing fee for each transaction made using Luno is precisely N100. Moreover, the minimum and maximum limits of money debited from the wallet or credited to the wallet are also there. For added confirmation and safety, Luno demands a verification on your first transaction. You can surpass this milestone by using your international passport or national ID card. We can conclude that Luno is a user-friendly platform that supports beginners as well. It is easy to use and supports faster transactions with great customer satisfaction.

Conclusion

It has become easier to access cryptocurrency and the local currency in the modern era and convert them to get personal benefits. The process to perform this action is not complicated as well. Moreover, except Luno, other platforms like LocalBitcoins and Paxful could be used to meet their requirements. However, those two exchanges are not as reliable as Luno as the chances of getting scammed are higher there.

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Bitcoin Wallet Reddit

How to Start Trading Bitcoin Reddit & What is the Best Bitcoin Wallet Reddit?

Bitcoin is a type of cryptocurrency, decentralized finance on Blockchain. It is considered a lucky charm in the crypto world due to its exceptionally high value and scarcity. Bitcoin is digital capital that one can quickly transfer to another individual without the involvement of a 3rd party. The best part about cryptocurrency is that it provides you freedom in speech, expression, and finance. It lifts you above the constraints of governments and institutions like banks. Bitcoin is called digital gold due to its market rates on all cryptocurrency exchanges. Using Bitcoins for stock marketing and trading purposes is absolutely legit. This is why every successful enterprise like Tesla has invested billions of dollars in this asset.

Like Gold and Real estate, one can practice bitcoin Reddit trading against liquid cash and benefit immediately. In cases where investors want short-term conversions (profits), Bitcoin works great. Thanks to its high liquidity!

We can determine whether it is worth it or not to buy Bitcoins by considering various factors. First and foremost, several people are designing and launching new cryptocurrencies today. But that does not make them worth it. Investors and crypto holders are looking for a cryptocurrency with high market value and scarcity. Both these traits are found in Bitcoin.

A number of factors determine the value of Bitcoin Reddit trading. Let us consider the transaction fee of Bitcoin, which is almost negligible. We can trade it for assets and get money immediately. We can also store it for long-term benefits because its demand is increasing with each passing day. Moreover, Bitcoin is frequently used as a mode of exchange in most businesses. Although some countries have not yet accepted and legalized it on an international level, many companies accept Bitcoin as a unit of exchange, allowing masses to be involved in bitcoin Reddit trading. Due to its exceptionally high price value, Bitcoin is considered digital Gold or King of the cryptocurrencies.

The increase in the cult of Bitcoin trading Reddit is also due to its transparency and excellent user experience. Chances of scams are minimal while its trading pays a lot. Regardless of the price, Bitcoin is bought in every nook and cranny of the world due to its popularity and profit margins.

Bitcoin Trading Reddit

Bitcoin Reddit trading is standard these days. The majority of Bitcoin holders use day trading. However, it is not considered suitable as it puts the user at more risk. High volatility offers more liquidity, but it also refers to more risk at the same time. This is the reason why the idea of day trading bitcoin Reddit may not work for everyone.

Read more: 9 Things You Can Buy With Bitcoin and Other Cryptocurrencies

Bitcoin Trading Reddit Tips and How-to guide

Once we know how it works, day trading Bitcoin Reddit becomes simpler. The use of resistance and support on the ⅕15M timeframe works well.

A coin that breaks small resistances is bought 10 to 20x. Beginners are supposed to start with a considerably low amount. All the trade must be performed in a relaxed mode without getting prone to panic attacks.

Experienced traders belonging to trading Bitcoin Reddit suggest investing in Bitcoins on the weekends, proving to be more beneficial. Moreover, for long-term trends, daytime is considered better for trading. The 4-hour chart is quite helpful in the case of BTC. Some people try their luck in 15-minute frames and become successful as well. But in such cases, the profit margin is too low. Many BTC holders prefer to close down the trade at a 10% profit to deal with risk factors.

The Best Bitcoin Wallet Reddit

A software program called Bitcoin wallet is used to store Bitcoins. In this way, a user gets ownership of his Bitcoin balance and can send and receive Bitcoins conveniently. For withdrawal, a minimum of 0.001 bitcoin must be present in the wallet. The maximum limit of daily withdrawal is 2000 USD, while that of weekly withdrawal is 5000 USD.

The benefits of BTC wallets are many. Let us have a look at the disadvantages or possible harms associated with these wallets. A BTC holder can still lose his crypto balance in cases like loss of keys, failure of the device, or theft. Offline wallets are also available that work as a means of cold storage. Such wallets are not available and accessible online, so there are no chances for hackers and scammers to approach them online.

Several kinds of wallets are there in the market. To land Reddit best bitcoin wallet, we need to consider the top-ranked Bitcoin wallets and their characteristic features.

Wasabi Bitcoin Wallet

This wallet offers the best services when it comes to privacy. The drawback is its slightly higher transaction fee that may not work economically for everyone. The processing is a bit slower too.

Armory Pros

This wallet works great for candidates who are chasing high security and privacy. It works best for those who have adequate experience in this field. It doesn’t support beginners and takes a lot of storage memory.

Green Wallet

It is an android wallet that provides those privacy features that are absent in other wallets. It is highly compatible with iOS, but its UX is not much advanced.

Electrum

It is a great wallet that works for both android and PC users. However, its UX is not very polished.

BlueWallet

It was developed and launched back in 2017 to store only Bitcoins. It was designed to provide a user-friendly experience to Bitcoin holders. It is non-custodial and offers a lot of features. The cons include the presence of bugs in its operating system, which might bother many users.

Guarda Wallet

This is so far the best bitcoin wallet Reddit that ensures to provide maximum anonymity. Your Bitcoins present in Guarda wallet will remain safe forever, without any risk of blocking. This wallet is non-custodial. Apart from being Reddit best bitcoin wallet, it supports hundreds of other types of cryptocurrency tokens and coins.

Read more: Behind the Best Crypto Gift Idea: Bitcoin Trophy