Bitcoin Archives - Page 4 of 5

Binance

Bitcoin Debit Cards 2022: Our Top Four Picks!

Have you been looking to issue a Bitcoin debit card for easy transactions and withdrawal of your earned bitcoin in cash? If so, you might want to stick around and keep reading this blog post. After independently reviewing a few Bitcoin debit cards available on the market, we have created a comprehensive list of the best bitcoin debit cards in 2022. In this blog post, we will tell you the best features of these bitcoin debit cards. We hope this will help you make an informed decision. So, let’s get started! Coinbase If you are looking for a bitcoin debit card that offers you several features all-in-one, you must check out the Coinbase bitcoin debit card. This tops our list for several reasons, the first being that it can be used anywhere VISA cards are accepted. Secondly, the Coinbase bitcoin debit card supports nine cryptocurrencies namely, Bitcoin, Litecoin, Ethereum, and more. The bitcoin debit card also offers several security features. This includes features like two-factor verification, a mobile wallet app, freezing the debit card instantly, and more. If you have this bitcoin debit card, you can use it to make in-store purchases or withdraw cash from ATMs that support Visa cards all around the world. BitPay If you are living in the US, getting a bitcoin debit card can be a struggle as most cards are released in Europe. However, BitPay has released a bitcoin debit card that is exclusive to US residents. BitPay offers several benefits to US residents. For example, the debit card supports six cryptocurrencies such as Ethereum, Bitcoin, and more. Also, it supports eight fiat currencies too! And what’s more? Well, BitPay is accepted anywhere MasterCard is accepted. The card also supports Apple Pay along with adding new digital payments features. If you are looking for a bitcoin debit card in the US that offers you a greater balance and transaction limit, BitPay is your best bet. Currently, the card offers a load or spendvalue of $10,000. You can transact $2000 from an ATM thrice per day. And lastly, the maximum balance limit is $25,000. Binance Some people are huge fans of cashback cards. And if you are one of them, Binance bitcoin debit cards will be the best choice for you. The card offers 8% cashback which is the highest as compared to any other bitcoin debit card. Similar to Coinbase bitcoin debit cards, Binance debit cards are also accepted everywhere VISA cards are accepted. You can use the card for online and in-store purchases. Binance bitcoin debit cards support up to 30 cryptocurrencies. This includes bitcoin and Ethereum. Although the card has the highest cashback rate, there is a condition. To use a Binance bitcoin debit card successfully, you need to have 600 Binance Coins as a balance in your cards. So, if you have the capital to buy 600 Binance Coins and maintain them in the card, Binance bitcoin debit cards are the best choice. Crypto.com Want a bitcoin debit card that supports a greater number of cryptocurrencies? Make sure to check out Crypto.com which offers seven types of VISA cards that support more than 90 cryptocurrencies. Moreover, the cards support more than 20 fiat currencies. You need to pay different prices for each card that are accepted anywhere VISA cards are accepted. For example,Crypto.com offers a Ruby steel card. You need to pay $400 to buy this card where you can get 2% cashback. You also get a 100% rebate on Spotify subscriptions. You also don’t need to pay any ATM withdrawals fee with this card. Apart from this, other cards also offer a cashback ranging from 1% to 8%. Based on how much you can spend on purchasing the card will determine different features. Final Takeaway Since the cryptocurrency market is becoming widely acceptable and available to people, bitcoin debit cards make a whole lot of sense. If you want to buy a bitcoin debit card with several beneficial features, we have provided you with our top 4 picks. Share with us if you know anymore! For more blogs, news, insights, and information, keep reading Coin Informer!

Bitcoin

Four Factors to Consider Before Shorting Bitcoin

Bitcoin has gained the massive spotlight in the past few years. In fact, 2021 was a breakthrough year for the bitcoin and cryptocurrency market overall. However, several investors predict that bitcoin will crash in the next few years. If you are one of those investors, you might want to short bitcoin as soon as possible. However, before you short bitcoin, you must consider the following factors. Volatile Price You might already know that bitcoin has a volatile price. However, when you short bitcoin, volatile prices will affect the results. Bitcoin shorting largely depends on derivatives. And these derivatives change based on bitcoin’s price. Any fluctuations in bitcoin’s price will affect these derivatives, thus causing a domino effect on investor profits and losses. For example, volatile prices of bitcoin increase the losses if you are using bitcoin options trading as a method of shorting the coin. Risky Asset Bitcoin is considered an asset by several investors. However, this is another factor that you need to consider if you short bitcoin. You might ask why is such the case? The answer is simple. Bitcoin is still an emerging currency. Introduced in 2009, it has been only 13 years and investors don’t have enough data to rely on and consider it as a solid asset for investment. This also reduces the ability of investors to make an informed decision. Moreover, several cryptocurrency platforms are complicated and prone to hacks. Bitcoin Regulation Cryptocurrency and in particular bitcoin have global recognition. However, the global regulation policy of bitcoin is still unclear. Each country has a different set of rules, and some countries are still debating the regulation of cryptocurrency and more. For example, there are several cryptocurrency platforms and exchanges that are not available in the US. This lack of regulation has resulted in crypto exchanges providing offerings that might have been considered illegal under proper oversight. Hence, when you short bitcoin, make sure to consider the regulation in the country of residence. Learn About Order Types Make sure to learn about order types before you short bitcoin. This is important to reduce your losses. What if the trajectory of bitcoin price doesn’t turn in your favor? What if it is different from your initial betting? In such a case, you will suffer huge losses. Hence, to avoid this, you need to learn about order types. For example, to reduce your losses, you can use stop-limit orders. Final Takeaway Bitcoin shorting is a way to make sure that you avoid losses if the prices crash. However, you need to be smart and consider a few factors to successfully short bitcoin. Find out more about cryptocurrency news, guides, methods, strategies, reviews, and more on Coin Informer!

Ethereum Code: Is It Worth It?

Ethereum Code: What Is It? Most crypto traders are looking for an automated trading tool that is comprehensive, easy to use, and authentic. Ethereum Code offers just that! This automated trading tool has been developed to keep the trading needs of beginner and advanced traders alike. The software has an absolutely easy-to-use interface and hence you don’t need prior knowledge of using a crypto trading tool. Apart from easy-to-use design and controls, Ethereum Code also offers automated trading features, trading limits, and stop losses. These features help traders stay profitable. Ethereum Code: Technical Features Let’s dive right into the technical features of the Ethereum Code. As mentioned above, it is an automated trading tool which means you don’t have to worry about the complicated stuff. All you need to worry about is your investment capital and withdrawing your profits. This is an AI trading tool with a profit close rate of 85% (Not bad!). You don’t need to pay any registration fees. The registration and verification are completely free. And it takes no more than 10 minutes to create an account. Ethereum Code uses CySEC certified brokers who will assist you in trading efficiently in the market. This is a great asset for beginner traders as they might need expert assistance for trading. To begin your trading account, you need to provide a minimum deposit of €250. The withdrawal time is 24 hours. Ethereum Code is highly secure and uses AES 256-bit encryption. This ensures that your personal data and trading data are safe. Ethereum Code: Account Features Easy and Quick Execution of Trade Ethereum Code has been designed to ensure the quick execution of a trade. With its sophisticated algorithm, the automated trading tool takes no more than 1 millisecond to execute a trade in the market. User-Friendly As mentioned above, Ethereum Code is very user-friendly. Once you access your account with your login information, you can easily navigate on the platform using its quick navigation panel. If you experience any issues, your broker and customer support are always at your disposal. Minimal Commission Fee Unlike any other automated trading tool, Ethereum Code charges a minimal commission fee of 0.01%. Don’t mistake this for trading fees. Commission fees are crucial to pay the brokers so that the trading accounts keep running smoothly. No License Fees Yes, you read that right! You don’t need to pay any licensing fees to use Ethereum Code. All you need to pay is the minimum deposit fee of €250. This fee is crucial to use all the features offered by Ethereum Code. Access Anywhere Anytime With Ethereum Code, you have access to your trading account anywhere anytime. All you need is an active Internet connection and your login credentials. You can log in to your account anytime anywhere. Trading Leverage So, maybe you don’t have enough funds for spot purchases. You might think this will restrict you from trading. However, such is not the case at Ethereum Code. The automated trading tool provides trading leverage of 5000:1. As a trader, all you need to do is understand the risks involved in leveraged trading. Numerous Payment Methods Just like most automated trading tools, Ethereum Code also offers numerous payment methods. You can use direct bank transfers, credit and debit cards to make payments. Trade Regular and Exotic Crypto With Ethereum Code, you can trade regular and exotic cryptocurrencies.This is a great way to build your investment portfolio and diversify successfully. 24-Hour Customer Support Ethereum Code offers 24-hour customer support. So, if you run into problems while trading, you always have customer support at your disposal. They will be glad to be of help. Our Trading Tips Listen to Your Brokers Whether you are a beginner or advanced trader, your broker is your best guide. So, make sure to listen to your broker. Ethereum Code providesCySEC certified brokers who have experience and knowledge to assist you in making the right trading choice. Start with the Minimum Deposit Only Don’t invest a large sum of money when you begin trading in the crypto market using Ethereum Code. Start with the minimum deposit of €250 as your investment capital. Once you get an understanding of the crypto market and trading principles, you can increase your investment amount. Check Your Account Yes, we know that Ethereum Code is an automated tool, and you don’t need to worry about your trading account. However, we suggest you check your account once every day. Just devote 20 minutes of your day to understanding how your account is performing. Is Ethereum Code making profits for you? Can you invest more? Withdraw Your Profits Make sure to withdraw your profits once a week. Deposit the profits in a separate digital wallet. This is crucial to differentiate between your capital and profit. You can then decide whether you want to reinvest your profits. Make a Responsible Investment Most people think that investing their savings money into trading is a wise decision. However, such is not the case. You should never invest your saving money, instead, you should invest that part of your income that you don’t rely on directly. This way even if you lose the money, it won’t affect your day-to-day life. Get Your Account Statement Make sure to download your account statements. When you start investing using Ethereum Code, you will earn profits and you will be liable to pay taxes on this earning. Hence, you need to have a complete overview of your account. Thus, download your statements. Ethereum Code: How to Register? Account Registration Ethereum Code has kept the process of account registration fairly simple. All you need to do is fill the simple form with details such as your name, address, email id, contact information, and more. As soon as you submit the form, the verification process will begin. Your broker will contact you in under 20 minutes. Deposit Minimum Amount Once your account is ready, you need to deposit the minimum amount. For Ethereum Code, the minimum deposit

Benefit of Bitcoin Mining?

Bitcoin Mining: Frequently Asked Questions Answered!

Bitcoin Mining: The 2008 recession saw people struggling to make their ends meet. But this recession also saw the emergence of digital currency, namely, bitcoin! Developed by an unknown creator called Satoshi Nakamoto, Bitcoin was first released in 2009. The main aim was to decentralize the transactions and give people more power rather than central banks. And since then, bitcoin kept gaining popularity and now has a market capitalization of $800 billion. However, there are several things that most people don’t know or are confused about. One of the concepts that beginner investors struggle to understand is Bitcoin-mining. Hence, in this blog post, let’s answer a few frequently asked questions regarding bitcoins mining. Bitcoin Mining: What Is It? In simpler terms, bitcoin mining can be defined as the process to earn bitcoins in a digital wallet. To earn bitcoins, miners need to solve a mathematical puzzle. These puzzles are solved using large computer systems with large computing powers. Earlier, bitcoin mining was done using regular desktops with central processing units (CPUs). However, due to the larger volume, bitcoins mining is done using large mining pools. What Is The Benefit of Bitcoin Mining? As mentioned above, bitcoin mining helps miners earn bitcoins. Apart from this, bitcoin mining also records transactions on the blockchain. This makes the transactions more trustworthy. Are There Any Costs Involved With Bitcoins Mining? Yes, there are some costs associated with bitcoins mining. The three larger costs associated with bitcoin include: Electricity: To run systems with large computing systems, miners will need electrical input. Hence, major costs come from electricity consumption. Network Infrastructure: To mine bitcoins, you constantly need an active Internet connection with minimal latency. Mining Infrastructure: To mine bitcoins, you will need computer systems with higher computing power. Regular desktops are not a great fit. What miners need areApplication-specific integrated chip (ASIC) systems. These systems are highly specialized and thus cost a minimum of $4,000 and range up to $12,000. This will add to the overall costs of bitcoins-mining. Bitcoin Mining: Should You Do It? As mentioned above, there are huge costs associated with bitcoins-mining. So, taking it up just as a hobby might not be a good idea. Also, there is no guarantee that you will always generate bitcoin. If you can’t solve the puzzle, you can’t generate bitcoin. This can drain your monetary resources over time with no guaranteed results. However, if you have unlimited wealth (which is highly unlikely), you can go for bitcoins-mining. Is Bitcoin Mining Environmentally Friendly? As mentioned above, Bitcoins mining requires a lot of electricity. This means huge consumption of electricity made from non-renewable resources. Hence, bitcoin-mining is currently not so environmentally friendly. The energy consumption of bitcoin-mining can be compared to the energy used by entire countries. Bottom Line Bitcoins mining is an expensive task. If you want to become a miner, you need to have enough funds and time on your hands. Also, the brains and expertise to solve mathematical puzzles to earn bitcoins. For more frequently asked questions answered, keep reading Coin Informer!

Bitcoin

Bitcoin Digital Wallet: Our Top Four Picks!

Bitcoin Digital Wallet: Bitcoin is one of the most popular cryptocurrencies in the market. In fact, amongst all cryptocurrencies, bitcoin has the largest market capitalization making it the first choice of investors. Now, unlike your regular stocks, you can use a crypto exchange to withdraw your cryptocurrencies and store them in a digital wallet. Are you interested in investing in cryptocurrency? If so, you might be on the lookout for a high-quality and secure digital wallet. Well, don’t worry! Your search ends here. We have shortlisted a few digital wallets that make it easier to manage your cryptocurrency portfolio. This shortlist is based on different factors such as user experience, costs, security, and more. So, let’s get started! Electrum (For advanced bitcoin users) Electrum is one of the best bitcoin digital wallets available for advanced users. The reason why this one makes it to our list is that it is highly secure as compared to other digital wallets. The digital wallet provides cloud storage, cold storage, and more. The only drawback of Electrum is that you can use it exclusively for bitcoin. It doesn’t support other cryptocurrencies. Moreover, it has a complex user interface which makes it a good option for advanced users rather than beginners. Exodus (For beginner bitcoin users) Exodus is the finest bitcoin digital wallet available for beginners. This digital wallet makes it to the list because of its easy and simple user interface which is a must for beginner traders. Also, the digital wallet allows you to swap between 150 cryptocurrencies giving beginners a wider exposure to the market. The drawback of Exodus is that the security code of the platform is not open for everyone to see. The users need to rely on the Exodus team to ensure the security of the digital wallet and thus their assets. This can be difficult for advanced users to digest. Trezor Model T (For enhanced security) Trezor Model Tis the best digital wallet when it comes to enhanced and robust security features. This hardware wallet is best to use for beginners as well as advanced users. Trezor Model T makes the list due to a few positive reasons. Apart from robust security features, the digital wallet allows you to transfer currencies from third-party exchanges, for example, Coinswitch. Moreover, it has touch screen controls and a MicroSD slot for added security of assets. The only drawback of the Trezor Model T is its high costs. The digital wallet costs about $195 which is quite high as compared to the features it offers. Mycelium If you prefer using a digital wallet that is mobile-friendly, you must check out Mycelium. This is a mobile-only digital wallet that supports ERC-20, ETH, and bitcoin tokens. This digital wallet is amongst the earlier wallets in the market. Although there are several similarities with Electrum, this digital wallet differs from it in terms of user interface and accessibility. Mycelium has a fresh and easy-to-use interface along with a built-in exchange. The digital wallet also offers hardware wallet storage so that users can store their digital currency offline. Final Takeaway There are several bitcoin digital wallets in the market to choose from. You can check out our top four picks of bitcoin digital wallets if you are just beginning in the market. To know more, keep reading Coin Informer!

Bitcoin Cash

Bitcoin Hard Forks: A Quick Look at the Timeline

Bitcoin Hard Forks: Satoshi Nakamoto, the mysterious software developer released bitcoin in early 2009. This was the first cryptocurrency ever to be released. And since then, it has seen a massive following to grow as a cryptocurrency with the highest market capitalization. Many new and pro investors strongly believe in bitcoin which is usually their first cryptocurrency to invest in. However, over the years, bitcoin has motivated other developers to release newer cryptocurrencies. Some cryptocurrencies have been made using the initial concept and program of bitcoin. Whereas some have made modifications to this basic program of bitcoin to generate newer cryptocurrencies. There are some cryptocurrencies that have been generated due to forking and creation of hard forks in the initial program. If you want to read about hard forks, you can read our previous blog on the same on our website. Since the inception of bitcoin, there have been thousands of forking events however, only a few cryptocurrencies generated using forking are viable. Let’s take a look at the timeline of hard forks and viable cryptocurrencies. Bitcoin XT Mike Hearn created bitcoin’s first notable hard fork in 2014 and generated Bitcoin XT. This new cryptocurrency had several new features such as 24 transactions per second as opposed to seven transactions. Also, the cryptocurrency had a block size of 8 megabytes as opposed to 1 megabyte. Until 2015, Bitcoin XT saw growth with 1000 nodes running. However, it lost interest from initial investors and now Bitcoin XT is not available for investment and its website is also defunct. Bitcoin Classic After Bitcoin XT was defunct, developers still wanted a cryptocurrency that has increased block size. So, they released Bitcoin Classic with a block size of two megabytes. Similar to Bitcoin XT, Bitcoin Classic saw initial interest in 2016 with 2000 nodes running. However, investors lost interest and moved to other viable options. But some investors still favor the potential of Bitcoin Classic. Bitcoin Unlimited 2016 also saw the emergence of Bitcoin Unlimited. However, if you ask investors, they will say that this cryptocurrency is a huge mystery in terms of investment. Since the developers never specified the type of fork it will require. Also, the developers left it on miners to increase the block size but limited it to 16 megabytes. Bitcoin Unlimited never got the traction as opposed to other cryptocurrencies. Investors lost interest and moved to other options. Segregated Witness Segregated Witness was released in 2015 by Bitcoin core developer Pieter Wuille. Commonly known ad SegWit, the main aim was to reduce the size of bitcoin. This helped investors to carry a greater number of transactions.This is not a hard fork instead it is a soft fork. Bitcoin Cash In response to the soft fork, bitcoin developers released a hard fork to generate Bitcoin Cash. This hard fork was meant to overcome protocol changes caused due to SegWit. The hard fork bifurcated from the original protocol in August 2017. As a result, bitcoin cash wallets rejected original bitcoin transactions. Amongst all the hard forks to date, Bitcoin Cash has been the most successful. It is the 11th most traded cryptocurrency in the market. Bitcoin Cash allows a block size of eight megabytes and doesn’t adopt SegWit protocol. Bitcoin Gold Over the years, the mining process started using complicated software and hardware. Therefore, certain developers thought that this might complicate the process of investment for novice or the one who had no tech background. Hence, they generated a hard fork in October 2017 to release Bitcoin Gold. This cryptocurrency can be mined using basic graphic processing units (GPUs). Also, Bitcoin Gold has a process called “pre-mine”. In this process, the developers mined 100,000 coins before the cryptocurrency was released. The pre-mined coins were used for different purposes. Some coins were kept as “endowment” to develop and grow the Bitcoin Gold. Some coins were kept to pay developers for their time and expertise. SegWit2x After SegWit, the developers intended to release another hard fork SegWit2x. This hard fork differed from SegWit in a way that it will initiate a block size of two megabytes and offer optional replay protection. And this was the reason why several investors who backed SegWit opted out of SegWit2x. Thus, the release was eventually canceled. Final Takeaway Bitcoin hard forks have been happening since its inception. However only a few have gained the attention of investors. And out of those few only a few of them has stayed afloat. This will help you identify which hard forks are worth your attention and which aren’t. To keep getting more insights like these, keep reading our blogs on Coin Informer!

Bitcoin

What Factors Affect the Price of Bitcoin?

Price of Bitcoin: Bitcoin is one of the most popular cryptocurrencies in the market. The coin was released in 2009 by an unknown creator named Satoshi Nakamoto. Since then, the currency has gained more attention from new and pro investors alike. However, the major question that most investors have is how much does 1 bitcoin cost? Or rather what are the factors that determine the cost of 1 bitcoin? Now, this is a fair question to ask considering bitcoin is not a fiat currency and hence is not regulated by the central bank. So, the cost will have major fluctuations. But what causes these fluctuations in bitcoin costs? Let’s find out. Supply Just like any other product, the reduced supply of coins will definitely increase its prices. With bitcoin designed to be released at a fixed rate eventually slowing down over time has definitely affected its prices. If you observe the trends, bitcoin release has slowed down from 6.9% in 2016 to just 4% in 2018. This is the result of bitcoin halving which means there isa lesser number of coins circulating in the market thus increasing its prices over time. Demand The high demand for any coin will certainly drive its prices. And such is the case with bitcoin! Since its release, the cryptocurrency has gained massive momentum. Although the currency is yet to find its way into replacing fiat currency (which we highly doubt will ever happen!), it has gained attention in a situation where the regular currency has been devalued such as Venezuela. Or bitcoin has gained attention from criminals who make bigger transactions. Also, with a lot of media attention, the demand has increased exponentially. So, a combination of high demand and lower supply has given a huge bump to the prices of bitcoin. Production Costs Bitcoin costs are heavily determined by the production costs. The costs are affected by direct costs incurred by infrastructure and electricity for cryptocurrency mining. Along with direct costs, there are indirect costs that are incurred due to the complexity of the bitcoin algorithm. The more complex the algorithm is, the more time miners will need to crack to code and acquire new coins. This will increase the overall consumption of electricity and miner will need to invest in complex systems. This overall process of cracking the algorithm will increase or decrease bitcoin production thus affecting its costs. Competition Yes, bitcoin is amongst the most popular coins in the market. However, there has been a massive release of new coins that are competing for attention. And some have been successful in effectively affecting the market capitalization of bitcoin. For example, Ethereum blockchain’s token Ether (ETH) has given tough competition to bitcoin. Ethereum blockchain is set to revolutionize the way financial institutions work. Hence, investors are giving the coin immense attention. This has affected the costs of bitcoin. Other coins including Ripple XRP, Cardano ADA, and more have also gained attention from investors. This tough competition from other coins combined with production costs, supply, and demand has increased the price of bitcoin over time. Regulation of Bitcoin The cryptocurrency market is highly unregulated and so is bitcoin. This lack of regulation has invited criminal elements to use bitcoin as a currency of illegal transactions. Hence, several investors are still skeptical of investing in bitcoin making the market more volatile. However, if more governments make bitcoin legal and include it in their daily transactions, it will bring more stability to the market. Investors will invest in bitcoin and affect its overall supply and demand thus affecting its costs. News Development The latest news regarding the market will have a major impact on bitcoin prices. This will especially include news related to the regulation of cryptocurrency. Apart from this, airdrops and hard forks can also affect bitcoin and investors’ drive to invest in cryptocurrency. Both these factors and more news can increase the price of bitcoin over time. Final Takeaway So, what is the price of 1 bitcoin? Well, the answer is not so simple! With several factors affecting the price of bitcoin, it can rapidly increase or decrease thus making the market more volatile. To know more about cryptocurrency, guide, insights, and news, keep reading Coin Informer!

Benefit of Bitcoin Mining?

Will Bitcoin Ever Reach its Maximum Supply Value of 21 million?

Bitcoin is one of the most popular and the first cryptocurrencies to be released in the market for trading. Since its release in 2009, this cryptocurrency coin has performed really well, and most traders prefer buying and selling Bitcoin to earn profits. But there’s a major catch with Bitcoin and its potential to be the only currency in long-term trading. Bitcoin is designed to be digital gold that has similar properties to physical gold. This means that the maximum supply of bitcoin is limited to a finite number of coins. The maximum number of bitcoins that will be released and mined is 21 million coins. Every 10 minutes a new block is created to release new coins. However, at about four years after 210,000 blocks,the number of coins that can be minted is reduced by half. So, what does it mean for bitcoin as a long-term trading cryptocurrency coin? What will happen once bitcoin reaches its maximum supply value of 21 million? Let’s find out! Will Bitcoin Ever Reach its Maximum Supply Value of 21 million? The short answer is NO! Bitcoin will never reach its maximum supply value of 21 million. Here’s why! Bit-shift operators are a special type of arithmetic operator that is used by the Bitcoin network to calculate its value. These bit-shift operators usually round off the decimal value to its nearest smallest integer. But when does this happen? This happens when the value of a bitcoin block is divided in half. This gives rise to a new reward with decimal values that are expressed in Satoshi. Now Satoshi is the smallest unit to measure bitcoin and can’t be divided in half. Hence, bit-shift operators will round the decimal value to the nearest whole integer. This system of rounding off Satoshi values during new blockchain reward generation is the reason why Bitcoin will never reach its maximum supply value of 21 million. Due to this system, it is unlikely that the last bitcoin will be released before the year 2140! However, it will be interesting to know what will happen if bitcoin reaches the maximum supply value of 21 million. What Happens If Bitcoin Reaches Maximum Supply Value of 21 million? If bitcoin reaches 21 million which is highly unlikely, no new bitcoins will be released in the market for mining. The transaction will still be processed but any trader/miner will gain profits only from transaction fees. If in 2140, there are several bitcoin transactions, miners will be able to get profits from transaction processing fees. However, if bitcoin serves as storage of value, miners will still be able to get some profits but with lower transaction processing fees. However, some negative outcomes can be anticipated if bitcoin mining rewards are not so profitable. Selfish Mining: In this situation, a group of miners will keep valid blocks in hiding and release them as orphan blocks. In such a case, there will be an increase in block processing times and high fees will be required to be paid when these blocks are released in the market. Miner Cartels: Yes, miner cartels are very much a possibility if bitcoin reaches a maximum supply value of 21 million. A group of miners will try to control the mining resources and demand high transaction processing fees. Final Takeaway Bitcoin’s market is continuously evolving. It is highly unlikely for bitcoin to reach its maximum supply value. However, if it does, bitcoin traders will experience some negative impact. Now, what happens in the future remains to be seen. The truth is that you can keep investing in bitcoin for the near future without worrying too much! Keep reading more news and insights on the cryptocurrency market at Coin Informer!

Bitcoin

Three Reasons Why Governments Are Cautious of Using Bitcoin

Bitcoin was first introduced in 2008 on whitepaper as a potential currency for transactions. However, after several years of its introduction, governments are still skeptical about using digital currency for official transactions. Although several countries have legalized bitcoin, several others have out absolute ban on its usage. But why are governments so cautious when it comes to using bitcoin as an official currency? Let’s find out. How does fiat currency differ from bitcoin? Fiat currency is the conventional currency of any country. All the fiat currencies are backed by the government. This means in case of any default; the government will compensate the individual. Governments have complete trust in fiat currency. For example, in the US, fiat currency is backed by the Federal Reserve. The reserve prints and circulates the money in the US economy. However, with bitcoin, such is not the case! The cryptocurrency is not backed by governments or any other regulatory authority. Moreover, this decentralized currency can be produced by anybody removing the need for intermediaries. This freedom of using the currency threatens the traditional financial structure of the world. Therefore, countries are not so inclined at using cryptocurrency as a legal tender anytime soon. Why Governments are Cautious about using Bitcoin? • Bypass Governmental Control Since bitcoin doesn’t need any intermediaries, it is capable of bypassing governmental controls very easily. Most governmental control is meant to prevent the outflow of the currency outside the country. This can come as a major imposition on fiscal and economic policy. However, with bitcoin, the assets can be moved easily bypassing the controls and exporting wealth. • Bitcoin may support illegal activities Bypassing governmental controls on bitcoin is a boon for criminals or organizations involved in illegal activities. The pseudonymous network of Bitcoin makes it easier for people to use it for illicit activities. Since the users are identified using their network addresses, it becomes extremely difficult to trace the transactions. For example, a few years back Silk Road was used as the hub for illegal drugs and guns. However, the transactions to procure these illegal items were done using bitcoin making it difficult to trace the parties. Although the FBI was eventually able to crack down on the case, the initial damage to the world was already done. • Bitcoin is unregulated Even after a decade of its introduction, bitcoin is still unregulated in the world. Governments are still figuring out the best way to regulate cryptocurrency and make it a safer way to transact. Several crucial aspects of bitcoin create hurdles to make regulation policies. For example, whether bitcoin must be used for daily transactions or only for buying valuable assets? During economic difficulties worldwide, is bitcoin a good currency to rely on for major transactions? Nobody really has answers for these concerns. Final Takeaway It’s a long road for cryptocurrencies such as Bitcoin to get worldwide acceptance due to several reasons. Although governments are taking steps to understand cryptocurrency, they are still cautious with its frequent use. What is the future of cryptocurrency, that remains to be seen!

Bitcoin

Bitcoin Crypto Considered Legal and Illegal in These Countries

Bitcoin Crypto: Cryptocurrency has gained rapid momentum in the past few years. Although the initial growth and popularity were slow, it has gained recognition by not just individuals but also businesses. Digital currency is seen as the future of transactions. One of the most popular cryptocurrencies that have always stayed on top is Bitcoin. As compared to any other cryptocurrency, people put their trust in Bitcoin more. But regulators, governments, enforcement agencies, tax authorities are skeptical. The main concern is how to establish control over the cryptocurrency market considering it is highly volatile. However, most people who want to invest in Bitcoin are left wondering whether they can legally use Bitcoin. The legality of Bitcoin varies around the world. While some countries have openly embraced cryptocurrency, some haven’t. If you are also wondering whether you can invest in Bitcoin depending on the country you live in, here is a quick guide just for you. In this post, we will tell you the countries where Bitcoin is legal and illegal. Bitcoin: Legal in These Countries Bitcoin is legal and regulated to a certain extent in the US. The Financial Crimes Enforcement Network (FinCEN) has been the regulatory department for Bitcoin in the country. Since 2013, the network has guided Bitcoin. Also, any bitcoin transaction is categorized under Money Service Business (MSB). This is yet again under the Bank Services Act by the US Treasury. And if a transaction in cryptocurrency is above $10,000, the purchase is immediately reported. So, bitcoin is highly regulated in the US and hence completely legal in the country. All types of cryptocurrencies including Bitcoin are recognized by the EU. However, the EU banking authority has said that cryptocurrency of any kind is not under its regulation. They warn the citizens to be extremely careful while investing or transacting using Bitcoin. The world of cryptocurrency is certainly moving in a positive direction in the EU. A proposal was finalized by the commission that enlists the legislations to regulate cryptocurrency thus building a road to trust amongst businesses and individuals. Just like their neighbor the US, Canada also supports and welcomes bitcoin and any transactions made as such. However, cryptocurrency is highly regulated. The currency comes under Canada Revenue Agency (CRA) thus, bringing it under income tax. Hence, any transaction or income made using cryptocurrency must be reported. Similar to the US, Canada also considers cryptocurrency under Money Services Businesses. This makes it mandatory to be reported to the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). Similar to the US and Canada, this country also considers Bitcoin Crypto or any other cryptocurrency as taxable. So, any transaction made using bitcoin needs to be reported. Whether you buy, sell, exchange, gift, or move the cryptocurrency in anyway, it must be reported to concerned departments. Apart from these major countries, various other countries consider Bitcoin Crypto legal with absolute regulations. Some of these countries are: Bitcoin is Illegal in These Countries While some countries have welcomed the digital and decentralized currency, several countries haven’t. Several countries around the world fear the misuse of the decentralized currency for illicit activities. Hence, they have put an implicit or total ban on the use of cryptocurrency. An implicit ban on cryptocurrency is in countries like Bahrain, Maldives, Cameroon, Kuwait, Georgia, Macao, Libya, and more. There is a complete ban on the use of bitcoin in countries like Bangladesh, China, Qatar, Nepal, Iraq, and more. Final Takeaway The world certainly has a biased take on cryptocurrencies like bitcoin. While some countries openly accept it, some don’t. However, several countries have started assigning the concerned authorities to find ways to effectively regulate bitcoin. After all, digital currency is the future of this world!

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