Category: Cryptocurrencies

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Crypto currency, aka cryptocurrency, has become one of the non-cash transactions that is currently developing in the world.

Many transactions, including buying and selling in cyberspace, can use crypto assets, such as Bitcoin. One can even take out loans against their crypto assets. Although this may not work on other transactions such as car accident loans (presettlement funding).

Despite the growing popularity and acceptance of cryptocurrency, there are still quite a lot of countries that are gray about this to the point of banning the use of crypto.

Only One Real Currency?

US President Donald Trump has criticized the circulation of cryptocurrencies. In a series of tweets, Trump said he was not a fan of bitcoin et al. In fact, he called them not money.

“I am not a fan of Bitcoin and other cryptocurrencies, where they are not money, and the value is very volatile because it is based on the intangible,” Trump wrote.

Trump said cryptocurrency assets that are not regulated properly will only produce bad things, such as drug trafficking and other illegal activities. Not only that, but Trump also touched on the new cryptocurrency launched by Facebook, Libra. According to him, Facebook must comply with US banking regulations such as other national or international banks. He said Facebook must have official Charter Bank licensing documents if it issued Libra.

Trump rails against Facebook’s planned cryptocurrency

Chairman of the American central bank, The Fed, Jerome Powell; Minister of Finance, Bruno Le Maire; and Bank of England Governor Mark Carney is a series of officials who do not like the presence of Libra.

“We only have one real currency in the US, and it is stronger than ever, strong and reliable. So far, the currency is the most dominant in the whole world and will remain that way. The currency is the American dollar,” chirped Trump.

There is truth about the fluctuating price of Bitcoin, Trump has a point. If you remember, the price of bitcoin has continued to decline in 2018. At the end of November 2018, the bitcoin exchange rate touched its lowest point at 4,833.09 US dollars. The price of bitcoin went up in 2019. In fact, at the launch of Libra at the end of June, a single bitcoin bit broke through more than 10,000 US dollars.

The Blockchain System In Terms of Reliability

All data is always alive and disseminated to all participants in the blockchain system, thus increasing data reliability because it does not depend on just one provider that requires secondary investment costs such as a DRC (Disaster Recovery Center) system to support operating reliability. If a node belonging to a bank fails, there is nothing to worry about. He will receive the latest data when alive and reunited.

The unit of information received and sent can be considered as a new ‘currency’ whose value is agreed upon by each bank, and this is a new treasury business opportunity for each participating bank and relinquishes bank dependency from one of the most dominant currencies at once able to hedge the original currency used.

Cryptocurrency through the block chain technology was created in 2008 as a transaction book register for the public. However, cryptocurrency or bitcoins were not common terms within the household up till 2017. During that year the fame of bitcoin erupted.

Individuals who are not used to cryptocurrency were immediately engaging themselves to buying and selling of the bitcoin. Starting 2017 until now, bitcoins and cryptocurrencies are heard all over the market place. Thus, crypto and bitcoins are planting a great impact on affiliate marketing.

Defining Cryptocurrency

Cryptocurrency is a currency in digital form that is usually decentralized. Moreover, this is not governed by any units within the national government. This kind of digital currency is created to be more safe compared to cash. The reason for this is because it is very impossible for it to lose.

Also, it is not possible to fake it due to firm encryption, or the method through which it is confirmed via cryptography. And due to the penetration of the digital technology, predictions are at hand that physical coins and paper money will just be a story of the past. That would renounce the industry prepared for the digital figures of currency.

THE BITCOIN

Among all the 1,600 forms of cryptocurrencies available today, bitcoin is the most popular. In the year 2018, bitcoin popularity hit high succeeding the price escalation of above $20,000 per single bitcoin. This value attracts investors, traders, and the public.

The Way Cryptocurrency Is Being Used

By purchasing cryptocurrency, an individual is provided with a digital opener containing the address of the crypto. This can be used to authenticate and acclaim transactions. People who want to buy bitcoin can purchase it and stock it in digital crypto wallets.

Just like with the stock market, cryptocurrency worth rise and fall as people buy it and trade it.

THE TURNING UP CRAZE IN AFFILIATE MARKETING

Many marketers of the digital industry today are seeing cryptocurrency being the point of interest in the field of affiliate marketing programs. One of which is in the aspect of crypto-based affiliate programs. Cryptocurrency is not completely recognized on some online platforms such as Facebook and even Google. That’s the reason why most affiliate marketers are digging their own soil to cultivate this business within the industry.

New platform models related to crypto trading business with the inclusion of affiliate programs are showing out most of the time. One example of the trading platform is the Binance which was launched on the year 2017. Binance also emerge as the largest platform for trading cryptocurrency based on traffic. This platform offers about 20-40% long-term commission on trading fees for every referral of new customers.

There are other famous programs about affiliate marketing and these include the CoinPayments, Coinbase, LedgerWallet, Purse, and Changelly. Moreover, training for this affiliate programs are also available to guide you in making bucks. Training programs like this teaches people about the affiliate industry and this is about Affiliate Institute. On the other hand, crypto-based affiliate marketing investment doesn’t have to be grand.

The U.S. Securities and Exchange Commission (SEC) finally came out with an official decision to dismiss proposals for creating a Bitcoin ETF market. The rejection though does not come as a surprise to Bitcoin ETF proponents, given the complexity of how cryptocurrency exchanges work via the blockchain technology.

According to legal experts, the SEC’s main worries include the bitcoin market’s high level of potential for fraud and manipulation; whilst regarded by U.S. regulators as an investment tool that is yet too small and still immature to support.

Although Bitwise officials contended in its proposal that the need for a Bitcoin ETF arises from their research findings that 95% of crypto currency tradings are not legitimate, this reasoning did not work to support its case.

What Makes a Bitcoin ETF Different from Bitcoin?

Bitcoin may be the largest digital currency in the crypto money market but is still unregulated, despite its popularity as a digital asset that can be exchanged and traded for profit.

If recognized by the SEC as legitimately traded investment tool, the price of Bitcoin ETF will be monitored and tracked. That way, interested bitcoin investors need only to determine the current price and market performance of bitcoins, without having to own and trade bitcoins just to do so.

An SEC approved Bitcoin ETF eliminates the need to be invested in bitcoin, which comes with worries on how to best deal with the complexities of its storage and security features. Bitcoin digital money is unlike the more common types of ETFs, such as shares of stocks and/or commodities bonds, which simply have investors looking closely at a related price when venturing into buying or selling an ETF commodity as an investment asset.

In becoming a Bitcoin ETF, the cryptocurrency becomes a type of marketable security that investors can buy and trade based on current index price and performance. As such, bitcoin companies will be under SEC’s system of surveillance-sharing agreement, to which they will allow tracking and close monitoring of how the bitcoin digital money is moving in terms of buying and selling activities.

The bitcoin though flows in a largely unregulated environment; making the SEC hesitant to allow a Bitcoin ETF participating as a type of publicly traded investment tool.

Cryptocurrency, Bitcoin in particular, has about 14 million in distribution despite its instability. Because of its volatility, free and paid crypto signals are available in the market for real time trade recommendations and ideas to ensure users and investors do trades that are favorable to them.

Investors who are surmising the future potentials of the blockchain and cryptocurrency have pushed most of the present market cap, and this is probably to continue until a particular measure of stability in value as well as acceptance in the market is realized. Aside from the specified value, those invested in crptocurrency seem to be depending on a distinguished “inherent value” of crypto.

The public ledger of the blockchain technology underlying cryptocurrency has the capacity to disturb an extensive multiplicity of transactions, including the usual systems of payments. These ropes in bonds, stocks, as well as other financial assets wherein records are digitally put in storage and where it presently necessitate a reliable intermediary to verify transactions.

Key Market Players to Forward the Evolution of Cryptocurrency

For the cryptocurrency market to attain its subsequent stage in its progression en route for mainstream acceptance as well as steady expansion, key market players have an important role to play.

Consumers and Merchants

Cryptocurrencies offer consumers cheaper as well as quicker peer-to-peer alternatives for payment compared to those offered by the usual financial service providers, not having to supply any personal data. Although cryptos carry on to get some approval as an option for payment, volatility of price as well as the speculative investments urge consumers to not make use of crypto to buy products and services but to trade it instead.

Tech Developers

Numerous brilliant tech developers have dedicated their efforts to mining cryptocurrency, whereas others have concentrated on activities that are more entrepreneurial in nature like creating wallet services, exchanges, as well as alternative digital currencies. For the crypto market to get acceptance from the mainstream, consumers and businesses will have to see crypto as a solution that’s user-friendly as compared to the usual transactions. Moreover, the industry must develop teachnologies and protocos for cybersecurity.

Investors

Generally, investors seem to be certain of the opportunities linked with crypto as well as cryptography. The underlying technology’s “inherent value” provides investors with a reliable reason to be hopeful about it.

Regulators

The governments’ attitudes are erratic in terms of the classification, management as well as the legality of crypto. Furthermore, regulations in various regions are evolving at dissimilar paces.

Financial Institutions

For a long time, financial institutions like banks have linked individuals with money to those who require it. However, this intermediary status has been weakened, and disintermediation in the sector of banking has quickly evolved. The outcome is the emergence of Internet banking and the increased utilization of alternative methods of payments by consumers.

 

Many of the UK’s elderly population are looking for ways to beef up their retirement fund while still able. The most common financial tool they have resorted to is the equity release mortgage. It is a type of loan available to older adults who are at least 55 years old or older, which allows them to take out a loan using their real property as collateral.

Overview of an Equity Release Mortgage

A loan under an equity release arrangement offers older adults the chance to borrow money that does not have to be paid off periodically and immediately. Settlement of the debt will take place at a future time; either when the senior borrower passes away or has reached a point of needing long term care in a nursing home.

The equity release scheme operates on the principle that real property appreciates in value. Therefore, the proceeds of a future sale based on the appreciated value, will more than cover the total amount due on the outstanding loan including all interests compounded through the years. The only drawback is that the lump sum payment will greatly reduce the potential value of the senior borrower’s legacy for his or her heirs.

Nonetheless, equity release mortgages in the UK are backed with a No-Negative Equity Guarantee. This feature ensures that in case the total debt exceeds the proceeds from the sale of the property, the agreement does not include a transfer of debt to the borrower’s heirs. Once the property has been sold to satisfy the borrower’s equity mortgage debt, the loan will be deemed as fully paid.

Still, to avoid equity release deals that impose unreasonable demands and conditions, it would be best for seniors to enter into this kind of agreement with the help of a professional financial adviser. The first step to take when considering to borrow money under this scheme, is to determine how much can be availed — by using an equity release calculator uk lenders use in calculating how much they can offer.

Is it Wise for Seniors to Invest in Cryptocurrency?

Often times, scrupulous individuals consider senior citizens as easy pray for their scams or illegal activities. Knowing that most retirees have some money stashed away for their golden years, scammers or swindlers often target easy-to-convince seniors.

Although cryptocurrency is receiving much attention as a lucrative form of investment, this is one type of money-making tool that retirees should not at all consider. First and foremost is the fact that the UK government is not supportive of the blockchain technology. The lack of regulatory oversight, makes the platform highly susceptible to manipulations, cyber attacks, and illegal operations.

Last year, major banks in the UK have been weeding out deposit accounts that seemingly engage in cryptocurrency trading. Banks are wary that the frequency and the amounts involved in the exchange could be indicative of money laundering activities. As a result, the crackdown on bank deposits used by cryptocurrency dealers and miners for their exchanges, involved freezing of the accounts. This was regardless of the depositors’ clean and long-standing records with the bank, and their reputation as law abiding UK subjects.

That being the case, it would be best for senior citizens not to be entangled in such transactions, lest they find their retirement money frozen for an indefinite period of time.

More and more individuals are taking out consumer loans as they could be very helpful and useful, especially now that there are more lending companies and options which are alternatives to traditional loans taken from banks. For example, the American Pride Legal Funding provides automobile accident settlement loans which could be issued quickly after approval. Such loans make it easier for individuals to settle any unforeseen expenditures.

Most consumer loans are secured, which means that a collateral is needed to acquire a loan. Collaterals depend on the type and amount of loan you are getting. With the increase and progress of online lending as well as technology itself, cryptocurrency could now be used as collateral to obtain a loan.

Known as crypto-backed loans, these loans are secured or insured by crypto or digital currency assets, meaning fiat money are lent or loaned in exchange for cryptocurrency such as Bitcoin, Ether, or Litecoin as security or guarantee for payment. Many crypto holders take put crypto-back loans since the loan process is uncomplicated and the fiat money is directly transmitted into the bank account or digital wallets of the borrower.

Crypto holders may find crypto-backed loans to be a very cost-effective means for managing the digital currency as necessitating access to the fiat money (typically US dollars). So how can crypto-backed loans be used? Here are some:

  1. Compensate for travel expenditures like vacation trips
  2. Purchasing a home or investing in real estate
  3. Financing a business startup or business undertakings and operating costs
  4. Consolidating or settling debts
  5. For other personal purchases or products and services

How Crypto-backed Loans Benefit Borrowers?

Lenders don’t usually do credit history checks as well ask for evidence of payment capability. This could be regarded as a major likelihood of credit risk.

  1. Loans could be easily and directly transferred to your bank account or digital wallet and could be withdrawn via any bank card ore bank transfer.
  2. Lenders of crypto-backed loans could offer a borrower a lending term and condition that is flexible which could be made better for both the borrower and the lender.
  3. Crypto holders could use various digital currencies, such as Bitcoin and Litecoin, as collateral.
  4. Crypto assets could be preserved or kept as no requirements are needed to sell them for fiat money.

How Crypto-backed Loans Benefit Lenders?

  1. There is a minimized risk since the total repayment or settlement of the loan as well as the interest is guaranteed and without deferments.
  2. The system or method is fundamentally automated; moreover the exchange directly transpires in the bank account thus making it simpler to keep an eye on and track fund usage.
  3. The range is stretched to audience of borrowers across the globe causing decentralized peer-to-peer crypto lending to be perimeter agnostic, hence loans could be extended in whichever currency that is available.
  4. Complete legal status is given and the strong setup guarantees security of the funds.
  5. Barriers are not present with regards to the least possible requirements for a lender. Any legally recognized entity or individual could be a lender.

During the later part of June, 2019, complaints from Plus Token e-wallet users in China, South Korea and Japan about their inability to withdraw from their account, had prompted Chinese law enforcement authorities to act swiftly. Their initial investigations led to the arrest of six (6) Chinese nationals working as core team of the Plus Token mobile wallet operation.

Dovey Wan Blows the Whistle on Plus Token’s Ponzi-Like Scheme to Alert the Cryptocurrency Community

News of the arrest did not receive wide coverage, which apparently was still under investigations. However, in early July, Dovey Wan, co-founder of cryptocurrency company Primitive Ventures noticed that the Plus Token site was moving out digital money in small amounts.

The movements made use of e-wallets not registered with the company when traded with crypto exchangers Bittrex, Binance and Huobi.

Although Ms. Wan tweeted about a possible Ponzi Scheme happening at the Plus Token site, cryptocurrency exchangers were unable to identify which e-wallet to block, since there were no digital currency transactions directly related to Plus Token.

Apparently, the Plus Token scammers have taken advantage of the sophisticated blockchain system of recording transactions. In using encryptions containing public and private key codes instead of real information about traders, the blockchain system makes it difficult to immediately trace and establish the identity of persons involved in cryptocurrency transactions.

As Dovey Wan had found out and later tweeted, unidentified Plus Token operators still at large were able to transfer around 70K Bitcoin(BTC) and 800K Ethereum (ETH) early in July. Ms. Wan summed up the entire amount that Plus Token had stolen from its investors, and arrived at an overwhelming estimate of about $3.2 billion-worth of cryptocurrency. .

The major players behind the Plus Token Ponzi-scheme still has control over the stolen cryptocurrency. Since July, they have have been transferring the digital money into different crypto wallets from which they can withdraw and convert the cryptocurrency into real money.

Crypto-Analyst Firm Reports that Plus Token Scammers Used Online Mixing Services to Pre-Launder the Stolen Cryptocurrencies

A related report coming from Token Analyst, a London-based crypto-analytic firm, said that the Plus Token scammers have been using online mixing services as a means of masking the origins of their fraudulent blockchain transactions even before the scam was discovered. Doing so enabled the fraudsters to trade the stolen digital currency at legitimate exchangers since the cryptocurrency online mixers were able to mix the money in different e-wallet accounts owned by Plus Token.

That being the case, the stolen money have been laundered and made to look like legitimate funds used for conventional transactions via the blockchain platform.

You have probably been seeing, reading and hearing about Bitcoin. But do you have the slightest idea what it exactly is? Basically, Bitcoin is a form of digital currency. And there are many of them. Digital Currency is also referred to as a cryptocurrency.

This term was first used by an anonymous individual during the financial crisis back in 2008.

Much like Traditional Currencies but it’s all Digital

Digital currency account is much like a checking account where it can be viewed online. Simply put, it is a digital currency you can view but you cannot touch. In regards to Bitcoin, it has no physical representation since all money exists in digital form.

No one’s regulating this currency and in the same manner, the network isn’t managed by any known entities while the tokens are being exchanged between people via sophisticated software system. In other words, the entire system is decentralized and it’s operated by a computer network.

Know what You can and can’t Do

 

It is vital to be aware of the fact that you cannot use these tokens for paying the usual stuff you buy in the market. Truth is, Bitcoin and other cryptocurrencies can only be used to stores online or sell it to other people. On the other hand, there is an increasing number of companies that are starting to accept Bitcoin as well as other digital currencies known to man. Soon, even the best credit card in Singapore or in any part of the world could be using crypto technology.

To give you an example, Overstock and Expedia are accepting it from their customers. Among the major features of this currency is that the entire transaction is untraceable and private. That is one of the numerous reasons why most prefer this type of money than others.

Is it Smart to Invest in Bitcoins or other Cryptocurrencies?

With the immense popularity and usage of Bitcoin, you may be wondering whether to start investing your money into it or not. Well just like when investing in stocks of other companies, this is something that will require proper judgment. Otherwise, you may just regret your decision. So before pushing through with your decision, it is essential to learn about the risks that are associated with the system.

Among the risks that you should not take lightly is volatility. This means that the value of Bitcoin can fluctuate within a day. Truth is, the rise and fall in value could be in the 30 percent region. So don’t make any hasty decisions. Think of your move first.

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