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crypto market

Cryptocurrency Market: Potential Source of Revenue for Insurance Sector

Cryptocurrency market has gained massive traction in the past few years. With constant tweets from popular personalities such as Elon Musk, the crypto currency market is attracting the attention of other industrial markets too. One of the markets that are looking at crypto market with high value is the insurance sector. Insurance companies are taking a keen interest in cryptocurrency. Several big players in the insurance sector are trying to develop new insurance policies for the crypto currency market. Each policy will try to provide coverage to cryptocurrency investors. Cryptocurrency Market: Why Does It Need Insurance? Yes, it is true that the cryptocurrency market doesn’t bring too much revenue to the insurance sector. For example, the largest cryptocurrency exchange Coinbase has only 2% of its coins insured by the Llyod’s of London. Rest of the coins are either connected to the Internet or the status is unknown. This makes it difficult for insurance companies to get too much revenue by insuring cryptocurrency. However, insurance for cryptocurrency becomes imminent if you consider the volatile nature of the crypto-currency market. There have been several instances where digital wallets of cryptocurrency exchanges were hacked, and coins worth millions were stolen. This resulted in massive losses to cryptocurrency investors and traders. To ensure the best interests of these traders, cryptocurrency insurance becomes important. In case of theft, exchanges can reimburse the lost amount and stand back up in the market. Since, crypto currency market is so vulnerable, the mainstream media hasn’t accepted it easily. Insurance for cryptocurrency brings more credibility to the market. It also helps traders trust cryptocurrency exchanges more easily and thus invest in the market. Insurance to cryptocurrency will also help mitigate risks and assess any potential risks associated with the market. Insurance also ensures that the crypto market gets the features of multi-signature wallets, cold storage, and server-side security. The Cryptocurrency Market As A Source of Revenue Currently, the market insures a few percent of their coins with insurance companies. However, in the future, the crypto currency market can become a potential source of revenue for insurance companies. It is estimated that most cryptocurrency companies, start-ups, and exchanges will look for coverage from theft, crime, and cybercrime. However, hacks won’t be included in these policies. Future predictions suggest that the annual premium for theft coverage can reach up to $10 million. This is certainly a huge sum for insurance companies. Final Takeaway The cryptocurrency market has massive potential to become a source of revenue for insurance sectors. Insurance coverage will make the market more credible to the mainstream media along with more benefits. Insurance companies are working hard to develop coverage policies for the cryptocurrency market. How do these coverage plans turn out, that remains to be seen! For more such news, insights, developments in the cryptocurrency markets, keep reading Coin Informer!

Cryptocurrency Exchange

Three Things to Consider Before Using Crypto Exchange

Crypto Exchange: The cryptocurrency market is volatile, unregulated, and a bit risky as compared to the traditional trading market. However, it keeps attracting beginners and pro traders as it can yield more profits as compared to conventional trading. In the past few years, the cryptocurrency market has had a large influx of traders. Now, if you want to start trading in this market, you need to take the help of a cryptocurrency exchange. Just like the stock exchange, the Cryptocurrency exchange allows you to buy and sell cryptocurrency. But before you start trading using a cryptocurrency exchange, you must know that they charge a fee based on your 30-day trading income. Here are a few things that you should consider before using a cryptocurrency exchange for trading in this market. • Fee structure When using a cryptocurrency exchange, you will have to pay different types of fees such as mining fees, wire fees, spot fees, account fees, and tiered fees. The usual structure of cryptocurrency exchange is a maker and taker structure. The maker sells cryptocurrency to create an exchange. Whereas a taker buys the cryptocurrency to complete the exchange. Both maker and taker are charged a fee based on their trading volume. For example, a trading volume of $10,000 may incur a fee of 0.50% on maker and taker. The fees will vary based on the cryptocurrency exchange you use to trade. Also, as a maker, you might incur lesser fees as you increase your trading volume. This is because makers create liquidity in the cryptocurrency exchange. Hence, the benefit! • Location If you didn’t know this already, cryptocurrency is unregulated and even considered legal in some countries. Hence, your location of trading matters the most. If you want to know which countries consider cryptocurrency legal and illegal, you can read our previous blog on the same on our website. Your trading location will determine the type of services you get from the cryptocurrency exchange. For example, in the US cryptocurrency, exchanges are registered under the Financial Crimes Enforcement Network. This makes all the cryptocurrency exchanges in the US regulated. This will affect the services you get. • Availability Now, you might already know that there are thousands of different cryptocurrencies in the market. This means you can trade on all of them if you want. But not all cryptocurrency exchanges will give you access to all cryptocurrencies. Some might offer only the popular ones, whereas some might offer hundreds. If you want to trade multiple cryptocurrencies, you might have to use different exchanges to gain access to trading them all. Bottomline When you want to use cryptocurrency exchange to trade in this market, you need to consider these three points. These will largely affect how much profit you make and how much fees you pay. So, before you start trading, get to know the cryptocurrency exchange. Happy Trading to You!

Algorithmic Cryptocurrency Trading

Four Online Courses to Learn About Cryptocurrency Trading Effectively

Cryptocurrency Trading Courses: $1.9 billion by 2028! This is the estimated value of the global cryptocurrency market. This means that cryptocurrency trading is not just a passing fad. Instead, it is here to stay and will keep growing. More people will start trading in the cryptocurrency market. And it doesn’t necessarily have to be expert traders, but beginners can also start trading in this volatile yet profitable market. However, expert or not, you need to have complete knowledge of cryptocurrency trading. And for the same, you can take some high-quality and effective online courses. These courses will give you a complete idea of what the cryptocurrency market is. How to strategically invest in the market and gain profit? What are the best investment strategies for the cryptocurrency market, active or passive? All your questions and more will be taught in these online courses. However, you need to be very selective and careful while choosing cryptocurrency online courses. At Coin Informer, we want our readers and cryptocurrency enthusiasts to make wise decisions. Hence, we bring you the best 4 online courses that will give you a complete insight into the cryptocurrency market. These courses are meant for beginners and experts alike. So, let’s get to know them. If you are a beginner in cryptocurrency investment, this course is for you. Offered by Udemy, this is the best course to get started with cryptocurrency. You will get to know how to buy, sell, trade, and use cryptocurrency. This course has a 90-minute video format where you will get to learn everything to begin with cryptocurrency trading. The course is taught by George Levy, the Chief Learning Officer at Blockchain Institute of Technology. In this class, you will also get a downloadable guide that will have everything you need to know about cryptocurrency investment and trading. Another excellent course offered by Udemy is meant for beginners. However, this course differs from Cryptocurrency Fundamentals in a way that this course starts with the basics and takes the learners to advanced trading. They use live examples to show how to trade in the cryptocurrency market in real-time. This gives the learners a complete and overall knowledge of cryptocurrency trading. The course provides 12 hours of learning materials. This includes on demand-videos, one downloadable guide, and one article. The study material includes everything you need to efficiently invest in cryptocurrency. If you want to earn passive income using cryptocurrency trading, you must take this course offered by Udemy. The course offers on-demand videos worth 9.5 hours of learning time. You will also get 19 downloadable guides and four articles that you can access through the Udemy app. Now, when you start reading the course material, you will feel the language is more flowery. However, when you start to go deeper into the course material, you will find strategies that work. The course will teach you how to register for cryptocurrency trading, how to secure cryptocurrency accounts, ways to efficiently use trading tools, how to maximize your profits and reduce trading risks, and more. Want to learn advanced cryptocurrency trading strategies? If so, you must take the Algorithmic Cryptocurrency Trading course offered by Udemy. In this course, you will get to learn about advanced cryptocurrency trading strategies. And what’s more! You will also get access to ready-to-use and tested expert advisors (trading robots). This makes the course the finest among all cryptocurrency courses offered on Udemy. In this course, you will get 2.5 hours’ worth of on-demand video, 13 downloadable guides, and one article. The course is great for beginners and experts alike. Final takeaway Cryptocurrency is a volatile market, however, with the right knowledge you can make the most of cryptocurrency trading. With these courses, you can certainly earn profits. If you want to keep reading more about cryptocurrency insights, news, guides, make sure to follow us on Coin Informer.

Crypto Exchanges

Four Ways to Efficiently Gift Cryptocurrency

Whether you are a fintech nerd or not, you have certainly heard about cryptocurrency. Digital currency frequently makes it to the headlines for its profit-making feature or volatile prices. However, cryptocurrency has intrigued everyone. And if you carefully invest in it, you will certainly earn some profits. Moreover, cryptocurrency also makes for a great gift to your loved ones. Whether it is a holiday gift, birthday gift, anniversary gift for your partner, cryptocurrency will be a great option. Now, we know that there are more than 6000 cryptocurrencies you can choose from. However, you should go for cryptocurrencies that have been around for a long time such as bitcoin, ripple, or Ethereum. These cryptocurrencies are more stable as compared to other options in the market. But how do you gift cryptocurrency? What are the best ways to turn digital currency into a great gift? Here’s how. • Crypto Exchanges This is a good idea for those who are already investing in cryptocurrency and have a digital wallet. However, if you don’t, there is nothing to worry about. All you need to do is create an account on a chosen exchange, choose the payment method and send the cryptocurrency to the digital wallet of another person. • Gift Cards Another way is to give cryptocurrency as a gift card. You will find different websites that are offering cryptocurrency gift cards. However, choose the one that is the most trusted. To determine this, read the reviews. Once you have chosen the website, purchase the gift card for the amount. You can then send the gift card to your loved one. They can redeem the card by going on the website and filling in the details written on the gift card. • Paper Wallet Are you looking for the cheapest method to provide cryptocurrency as a gift to your loved one? The paper wallet has got your back! A paper wallet can be obtained from specific websites. These wallets will contain all the information regarding your cryptocurrency accounts and the information to access funds and initiate transactions. This paper wallet must be kept safe so that you don’t lose vital information. Moreover, the person you are gifting it to won’t be able to access the digital currency sent to the address. • Physical Coins Want to look fancy while gifting cryptocurrency? If so, you can buy physical coins that have a unique address. The physical coins can be redeemed by accessing the private key written underneath the coin. The coins are expensive but will make the gift look luxurious and rich. Moreover, you can easily store your cryptocurrency as physical coins. These are a few ways in which you can gift cryptocurrency to your loved ones and look unique amongst the crowd of gifts. If you want more insights into how to gift cryptocurrency effectively, you can visit our website Coin Informer. We are an exclusive platform dedicated to giving cryptocurrency trading and information. Visit our platform now!

Bitcoin

Different Types of Cryptocurrency Scams You Should Know About

Cryptocurrency Scams: Although bitcoin was first introduced in 2009, the past few years have seen an exponential rise in the cryptocurrency market. There are different types of cryptocurrencies in the market that people can choose from. And all types of investors are interested in buying or selling cryptocurrency. However, another category of individuals that are eyeing cryptocurrency investments is the scammers. With so much talk around the market, scammers have found some ways to scam you of your investments. Here are different types of cryptocurrencies scams you should know about. Social Scams In social scams, scammers will pretend to be a trusted identity and steal any important information regarding your cryptocurrency accounts and investments. They will pose to be a friend, lover, government agencies, investor, agents, and such. Social scams can be differentiated as follows. • Giveaway or Imposter Scams In such a type of social scam, scammers will pose as cryptocurrency influencers, celebrities, or business professionals who can double or even triple the cryptocurrency earnings. This is also known as a Giveaway scam. Such scammers will create the perfect message and persona that will be believable enough for you to give important account and investment details. • Romance Scams Another way to gain someone’s trust is to pose as their potential partner who is ready to commit to a long-term relationship. The scammers will often target those who have a lot of information online saying that they are looking for a partner or are ready to date. Once trust is established, they will start talking about cryptocurrency and investments. They will coerce you into giving crucial information to them. • Extortion or Blackmail Scams Scammers want crucial cryptocurrency investment information and hence they will go to any lengths to threaten you. In extortion or blackmail scams, they will pretend to have information such as adult website visits or any compromising photographs. They will threaten to release this information unless the cryptocurrency information is shared with them. You need to know that such type of extortion scam is a crime and must be reported. • Phishing Scams When scammers want to steal your digital wallet information, they will switch to phishing scams. They will send you an email claiming to give some high returns. But the catch is that you need to fill in your crypto wallet key information in the website link provided. Once you have clicked such links and entered the information, scammers will have access to your funds. Now, they can easily steal your funds with just a few clicks. Business or Investment Opportunity Scams Most people who invest in cryptocurrency are looking to earn more profits. Now, of course, it is a great investment goal to have. However, this also allows scammers to get valuable information from you. The fraudsters will show you a great investment opportunity to scam you. • NFTs and ICOs Scams With new features in cryptocurrency such as NFTs and ICOs, there are new investment opportunities for you. But these are also excellent methods for scamming you of your funds. You might be directed to fake websites for ICOs and NFTs to steal your digital wallet information. • Cloud Mining Scams Now, most investors consider cloud mining a scam itself because it is impossible to gain the type of profit that it promises. However, several websites will claim to cloud mine your cryptocurrency with high returns. Now, you may invest in cloud mining but make sure you do thorough due diligence of the chosen platform. Bottom Line Cryptocurrency is an exciting market and has high investment potential. However, it is also a great place for scammers to find your vital information. If you want to invest in cryptocurrency safely, get more expert insights, make sure to visit us at Coin Informer. Check out our website now!

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!

blockchain wallets

What is Digital wallet

Digital wallet: The numerous advantages that cryptocurrencies like Bitcoin and Ethereum have over conventional fiat currencies are driving up the demand for them. As a potential user of these blockchain-based coins, you must grasp how blockchain wallets function. Let’s find out how digital wallets work and how you can take advantage of them. Why is a Digital Wallet Important? For each transaction, traditional banking methods have a number of drawbacks. To begin with, transactions are often lengthy. Furthermore, since every transaction must go through an intermediary such as a bank, a single point of failure exists. It’s also a challenge to keep track of all accounts and balances, since data may be compromised or even damaged when it is spread over different platforms. Using blockchain wallets, these issues may be reduced or eliminated. How to Use a Digital Wallet Digital wallets enable users to store digital assets. Users of Blockchain Wallet may manage their cryptocurrency holdings, including Bitcoin, Ethereum, Stellar, Tether, and Paxos Standard. Crypto-Wallet Features Now that you understand how Blockchain wallets function, it’s time to learn about their features. Among the key benefits of Blockchain wallets are: A digital wallet may be held on a desktop or on a smartphone app. However, because of its portability and versatility, the smartphone app is the most popular digital wallet. In certain circumstances, digital wallets are more convenient and safer than conventional wallets. To use digital wallets, users must download applications provided by banks or trustworthy third parties.

BENEFITS OF USING NFT

How To Buy NFT

How To Buy NFT: NFTs have been the greatest crypto story of 2021. It’s not difficult to acquire your first digital collectible despite the fact that NFT marketplaces aren’t precisely Amazon in terms of simplicity of use. Let’s find out how you can buy your first NFT: 5 BENEFITS OF USING NFT They allow artists to earn money from their work. In order to sell and promote their work, an artist needs an agent. Without middlemen, artists and creators can directly communicate with their clients. The developers get paid every time the NFT is traded. All NFTs are collectibles. As stated above, only one of each may exist. You may keep them and their worth will improve with time. Most NFT members join to make money by reselling them. Investing in NFTs for resale can pay off big. In some cases, the initial buyer paid just over 20,000 USD for the antique. One deal brought in nearly $15,000! The token’s metadata can’t be deleted, lost, or removed from the blockchain. They are supposed to stay forever since their data is permanent. This alone makes them collectible and valuable. Because blockchains are decentralized, data is spread across multiple nodes worldwide. Even if the network fails, a record will be kept. Nodes will always be operational thanks to NFT technology. So data is safe. How To Buy NFT NFT and the Future The NFT blockchain technology clearly has many advantages, making it extremely valuable. They benefit both the makers and the resellers. NFTs clearly hold a lot of promise for the future of most industries.

Bitcoin Mining

How Do You Mine Bitcoin? Is It Worth It? Bitcoin Mining Process

Bitcoin Mining Process: As we all know, Bitcoins do not come from thin air. New Bitcoin units enter circulation through a process called Bitcoin mining. How exactly does Bitcoin mining work, you ask? Read on as we will discuss this process from start to circulation. The Nature of Bitcoin Bitcoin operates in a decentralized computer network that uses blockchain technology to track transactions involving this particular type of cryptocurrency. The computers in this network receive transactions as blocks. Processing these blocks then results in the creation of Bitcoins through mining. We can compare mining, in this case, to printing money. The Bitcoin Mining Process Explained Here is a step-by-step rundown that explains how Bitcoin mining works: Conclusion Bitcoin mining is a practice in crypto that guarantees profits. But still, time and even the right equipment are needed to ensure you get something out from it. It pays to do your own research to know how you can make the most of this investment.

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Category: Cryptocurrency

Cryptocurrency Market: Potential Source of Revenue for Insurance Sector

Three Things to Consider Before Using Crypto Exchange

Four Online Courses to Learn About Cryptocurrency Trading Effectively

Four Ways to Efficiently Gift Cryptocurrency

Different Types of Cryptocurrency Scams You Should Know About

Three Reasons Why Governments Are Cautious of Using Bitcoin

Bitcoin Crypto Considered Legal and Illegal in These Countries

What is Digital wallet

How To Buy NFT

How Do You Mine Bitcoin? Is It Worth It? Bitcoin Mining Process

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