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bitcoin atm

Cryptocurrency and Credit Cards: How Does Their Intersection Look Like?

Cryptocurrency and Credit Cards: First introduced in 2009, cryptocurrency, especially bitcoin, has gained recognition in the past few years. Rising Bitcoin prices and the introduction of new crypto coins have increased the chances of cryptocurrency going mainstream. What indicates that cryptocurrency will soon go mainstream? It is the current intersection with credit cards. Yes, that’s right! Credit cards and cryptocurrency are interacting with each other in the market in different ways. And this will make cryptocurrency more accessible to the common man with high chances to use crypto coins to buy things and commodities. Let’s see a brief overview of how credit cards and bitcoin intersect. Establishment of Bitcoin ATMs The establishment of bitcoin ATMs is the beginning of using a credit card to utilize bitcoin in the mainstream market. There are already more than 30,000 bitcoin ATMs around the world. However, unlike your regular ATMs, bitcoin ATMs are used to buy bitcoin. These ATMs don’t dispense cash. Also, there is a limitation to how much bitcoin cryptocurrency you can buy using these ATMs. These ATMs also charge you a fee and hence don’t offer the right prices. Use Credit Card to Buy Bitcoin You can buy bitcoin using different ways. And using a credit card to buy bitcoin is certainly the easiest and one of the best ways. However, you can’t buy all types of cryptocurrencies using a credit card and not all crypto exchanges support credit cards. And what’s more! Well, another hiccup with using a credit card is that most crypto exchanges will charge you a heavy fee when you use a credit card. This makes it more expensive. Moreover, credit cards will consider crypto equivalent to cash currency. Hence when you buy crypto using a credit card, you will incur charges just as you use it for buying things using cash. Do Credit Cards and Bitcoin Intersect For The Benefit? Until now, it might seem that credit cards and bitcoin might not go together. However, there is a possibility of a successful intersection with the introduction of credit cards that offer bitcoin rewards. The latest addition to this development is the introduction of BlockFi’s credit card that offers bitcoin rewards. Moreover, the BlockFi exclusive Visa Bitcoin Rewards Credit Card is now open to the public to use. With BlockFi’s credit card you can get 1.5% bitcoin rewards. However, with this, the user is also prone to the volatility of the cryptocurrency market. Despite that, there are high chances of more such bitcoin rewards credit cards being released for the users. Bottom Line Cryptocurrency and credit cards have a long road to go before it becomes economic for the public to use a credit card to buy cryptocurrency. One more step forward would be to use cryptocurrency to buy commodities using a credit card. How does this intersection benefits the users remains to be seen! Currently, if you want to keep reading about cryptocurrency and further developments in this market, keep reading Coin Informer!

Institutional Investment in Crypto Market

Best Coin To Invest In Crypto

Will Major Institutional Players Invest in Crypto Market?

Invest in Crypto Market: If there is one factor that has always pushed investors away from investing in the crypto market, it is the volatility of the market. With constant fluctuations, price changes, and tech upgrades, investors have been reluctant to invest in the crypto market. However, after the major price crash in 2018, the crypto market has seen relevant stabilization until recently. Apart from volatility and price booms, another factor that has influenced the credibility of the crypto market is the lack of institutional investment. Although currently there is some interest from institutional players, the overall sentiment is hesitant. And the major reason is, yet again, the volatility of the crypto market. This is especially true for financial companies that commit to their customers for a legit return for their investment. Hence, these companies can’t risk the investment of millions with a high possibility of losing those millions in a snap. But is there any indication for this situation to change? Does it seem that major institutional players will invest in the crypto market? The answer is YES! Yes, volatility and lack of regulation have deterred institutional players from investing. But the following changes in the overall operations have sparked interest and changed the tide. Price Trends: Currently, Bitcoin and other major cryptocurrencies have seen a major increase in their price without many fluctuations. Data suggests that these prices are to stabilize over time. This has created a calming effect on the crypto market allowing institutional players to invest. Self-Regulation: The lack of regulation of the crypto market was a major reason why institutional players stayed away from it. However, efforts being made by independent institutions and governments have started providing clarity and consistency to the institutional players for the crypto market. Improved Logistics: Another reason that made institutional players skeptical about the crypto market was the storage of cryptocurrency. Previously, this included the usage of third-party resources that didn’t guarantee the safety of assets. However, currently, several companies are working at bringing improved custody solutions for cryptocurrency, for example, Consortium Komainu. Increased Liquidity: The lack of liquidity in the crypto market was another reason institutional players hesitated to invest. However, organizations that are actively involved in stabilizing the crypto market have come up with solutions that offer higher liquidity to the asset class. This has spiked the interest of institutional players to invest. Bottom Line The Crypto market will be fully stabilized only when institutional players invest money. This will happen when major problematic issues of the market are resolved. Currently, major changes have been made in the direction to attract institutional players and there have been some positive results. To know more about this and more crypto, keep reading Coin Informer!

Bitcoin

Taproot Upgrade: Everything You Should Know

In the past four years, Bitcoin hasn’t implemented any upgrade until now. The latest upgrade on the Bitcoin network is Taproot. The main aim of implementing Taproot is to streamline the transactions making them more efficient and cost-effective. In this blog, we will give you a brief overview of Taproot and the effect it will have on Bitcoin transactions now and in the future. Taproot Upgrade: What does it do? You might already know that bitcoin transactions require signatures that need to be verified to complete the process. Some bitcoin transactions require a single signature whereas some need multiple signatures. Verifying each signature takes a lot of time to process along with a lot of energy. This increases the costs and reduces the speed of processing transactions. However, the latest Taproot upgrade implements signature aggregation. Signature aggregation in Taproot combines the transactions that need multiple signatures for verification. Moreover, the upgrade also combines multiple signatures and single signatures transactions. Since the signatures are combined and can’t be differentiated, it enhances the privacy of transactions. Taproot Upgrade: How Does Signature Aggregation Works? The latest Taproot upgrade uses Schnorr signatures in addition to the Bitcoin’s Elliptic Curve Digital Signature Algorithm (ECDSA). With this, users can not only generate private keys for verifying transactions, but they can also aggregate the multiple signatures saving a lot of time. Linearity is one of the key concepts of Schnorr signatures. This allows the verification of Bitcoin transactions in batches rather than one transaction at a time. Taproot Upgrade: What Are The Benefits of Implementation? As mentioned above, Taproot upgrade combines multiple transactions and signatures for easy and quick verification. This increases the number of bitcoin transactions that can be processed at a time thus reducing the overall costs. Taproot upgrade also processes the bitcoin transactions that have occurred at Layer 2 channels. This also makes the bitcoin network more efficient. The upgrade also enhances the overall privacy of bitcoin transactions. Since signatures are aggregated and can’t be differentiated, it is difficult to identify the participants of the transaction. The upgrade also greatly benefits the smart contracts feature of bitcoin. Earlier, the smart contract feature of the bitcoin network wasn’t used to its full potential due to the inability to scale transactions. However, with the taproot upgrade, this problem is solved. This also creates a possibility for Bitcoin to be used as Decentralized Finance (DeFi). Taproot Upgrade: How Does It Affect Bitcoin As A Cryptocurrency? Since taproot enhances the speed of transaction processing, it makes Bitcoin as a highly viable currency to be used in the future. Also, as a greater number of transactions are processed, bitcoin’s worth will increase consequently. Also, if bitcoin reaches its maximum value of 21 million coins, taproot will generate more transaction fees due to faster transactions. This will be the bulk revenue for miners. Final Takeaway The latest Taproot implementation drastically changes the way bitcoin transactions are processed. And it will yield far better results for bitcoin and its users in the future. For more information on cryptocurrency, insights, latest news, 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!

Automated Trading

What is Automated Trading Software, And Why Has it Become So Popular?

Automated trading systems are taking over financial markets. A study found that they account for substantial trade volumes, especially in the commodities and futures market. Thus, they are increasingly being embraced by traders. The reasons that traders give for their widespread use include the convenience and accessibility that they offer. What Is an Automated Trading System? Automated trading systems — also referred to as mechanical trading systems, algorithmic trading, automated trading, or system trading — allow traders to establish specific rules for both trade entries and exits that, once programmed, can be automatically executed via a computer. Various platforms report 70% to 80% or more of shares traded on U.S. stock exchanges to come from automatic trading systems. Traders and investors can turn precise entry, exit, and money management rules into automated trading systems that allow computers to execute and monitor the trades. One of the biggest attractions of strategy automation is that it can take some of the emotion out of trading (which is a good thing) since trades are automatically placed once certain criteria are met. Automated trading systems typically require the use of software linked to a direct access broker, and any specific rules must be written in that platform’s proprietary language. Three very important aspects of automated trading have contributed to its explosion in popularity: It removes human fallibility in trading by automating trade according to specific indicators or conditions. It allows access to a variety of markets simultaneously. It allows anyone to engage in trading, provided they have access to both a computer and good internet. Advantages of Automated Systems There is a long list of advantages of using automated trading systems – including: They Reduce Emotional Trading As earlier mentioned, humans are susceptible to emotions that can cloud judgment when making trades. A trader may hesitate, pull back, or get influenced to trade in an unyielding way. Automated trading systems minimize such emotional trades by executing trades instantly after the rules have been set. Once the computer executes, the action cannot be undone. This capability is beneficial to traders who are afraid to make trading moves. It is also beneficial to those who tend to overtrade. Many Cryptocurrencies traders are using automated trading platforms because they find it challenging to maintain their emotions in that aggressive market. They Preserve Trading Discipline Automated trading systems work under set rules, and they execute trades automatically. This in itself brings an aspect of discipline in market trading. It maintains discipline even in volatile markets. Automated Trading System Increases the Speed of Order Entries Automated systems are quite swift in generating orders. It takes seconds for one to get in or out of a trade. The response to dynamic market conditions is also swift, influencing positive outcomes for traders. Trade Diversification Automated trading systems can be used in diversifying trades. Traders can trade with multiple accounts or multiple strategies at the same time. The result is a diversified trade that has risks that are spread over various instruments. Humans are unable to execute such diversified trades swiftly. They may take a lot of time to do so. However, computers can identify opportunities across broad markets in just a matter of seconds. Who should use an automated trading system? It doesn’t matter if you are a skilled or a new trader. Automated trading systems are for everyone. Skilled traders will take advantage of the features of the automated system and set up a large number of trades quickly, generating more profit. Many experienced traders are using automated trading platforms for trading Cryptocurrencies because of the potential to gain massive amounts quickly without involving emotion that could cause losses. Beginners will enjoy the opportunity to trade smartly without years of knowledge and experience in traditional trading methods. Of course, the automated system will prevent them from trading out emotions which is the cause of the loss of 90% of beginners. Most of the trading platforms are providing a personal account manager like ETHEREUM CODE, which is a huge benefit for beginners – We mentioned what other platforms are providing this service in the reviews by the end of the article. Frequently Asked Questions Is an Automated Trading System the Right Choice For Me? Automated trading might be the right option for you if you’re looking for a technique that helps you trade according to predefined parameters. This can be especially helpful when trying to avoid emotional trading. Automated trading is a good solution for someone who wants a low-maintenance trading strategy that relies on advanced technology. I Want To Start, How Do I Choose The Right Platform to Start With? Here’s the high-ranked automated trading software of Coin-Informer reviews section. Are you ready to start generating profits from an automated trading system? – Reading the full review might help you decide which platform will fit your needs. Read The Full Reviews: 1. QuantumAI – Best Overall, Multi-Award Platform, Rated 4.4 / 5 2. Immediate Edge – User Friendly, Rated 3.9 / 5 2. ETHEREUM CODE – Active Personal Account Manager, Rated 3.5 / 5 3. Crypto Hopper – Fast Transactions Between Exchanges, Rated 3.2 / 5

Bitcoin Gemini

Bitcoin Gemini: Is It Worth It?

Bitcoin Gemini: What Is It? Bitcoin Gemini: Are you a new trader who has just started to invest in cryptocurrency? However, due to your full-time jobs and other obligations, it gets tricky for you to monitor the cryptocurrency market and your investment. Also, as a new trader, you are not an expert in the market and want someone to take care of your investment on your behalf. If you are in such a predicament, Bitcoin Gemini might be a great choice for you. This is an excellent automated trading tool that assists new traders like you in handling cryptocurrency investment. The tool will monitor your cryptocurrency investment on your behalf and will tell you the best trading opportunities. Moreover, it will execute the trade on your behalf too. Bitcoin Gemini is a fully automated trading tool with an 85% success rate. Not bad, we think! All you need is 20 minutes out of your busy schedule to set up the account and the rest will be taken care of by Bitcoin Gemini. In this review, let’s take a look at things that make Bitcoin Gemini one of our favorite trading tools. Bitcoin Gemini: Technical Features As mentioned above, Bitcoin Gemini is an AI trading tool with an 85% success rate. The account setup and verification are free and take place in 20 minutes. This allows you to immediately start trading in the market. The software tool requires a minimum of €250 as a deposit to start trading. The software takes less than 1ms to execute the selected trade. This allows you to quickly act on suitable trading opportunities and earn profits. Moreover, the withdrawal window for cashing out your profits is 24 hours. Bitcoin Gemini is regulated by CySEC (Liquidity) and provides anAES 256-bit data encryption ensuring the safety of your personal and trading data. Bitcoin Gemini: Account Features Doesn’t require a trading fee: Bitcoin Gemini doesn’t need any trading fees. You also don’t need to worry about your trading license expiring. Account registration is completely free. Easy to navigate: If you don’t have any prior trading knowledge, don’t worry! With Bitcoin Gemini, you don’t need expert knowledge to use the software. You can easily understand the user interface and navigate efficiently. Low commission: The trading software charges extremely low commission fees viz. 0.01%. This fee is required to pay your brokers who can run your account effectively. Access anywhere with 24-hour customer support: Since it is an online automated tool, you can access it anywhere anytime. All you need is an active Internet connection. Moreover, the tool also offers 24-hour customer support. So, if you run into problems with your trading account, you can connect with them to get assistance. Numerous payment methods: To effectively trade in the cryptocurrency market, you will need some capital. You can use multiple payment methods to deposit money in your trading account. You can use your credit and debit cards or direct bank transfers. Trading leverage: You can get a 5000x leverage with Bitcoin Gemini. You can borrow funds from your broker and pay them later. Before you make use of the leverage, get to know the risks involved. Trade multiple cryptocurrency pairs: With Bitcoin Gemini, you are not just limited to trading Bitcoin. Instead, you can trade numerous cryptocurrencies such as Ethereum, Dash, and exotic pairs such as GBP/PLN, USD/NOK, and more. Expert Trading Advice Always start with a minimum deposit Bitcoin Gemini requires a minimum deposit of €250. You should start trading using this minimum deposit only. You don’t need to invest a large amount especially if you are a new trader. You can always use your profits to reinvest. Listen to your broker CySEC licensed brokers are part of the Bitcoin Gemini team. They will give you accurate advice for effective trading. We suggest you listen to the trading advice especially if you are a new trader. Keep tabs on your trading account Since Bitcoin Gemini is an automated trading tool, you might think of leaving everything on the AI tool. However, it is suggested that you keep tabs on your trading account. Spend at least 20 mins everyday to check the activity of your trading account. Take out your profits It is advised that you take out your profits to ensure that you understand the difference between capital and profit generated by the software. You can always reinvest your profits. Maintain account statement Once you start making profits, your income will increase. You might have to start paying taxes. Hence maintaining your account statement will be beneficial. Take your time Understanding Bitcoin Gemini and trading efficiently will take some time. Hence, give yourself some time to understand the intricacies before you start earning massive profits. Taking your time in the initial stages will help you in the long run. Bitcoin Gemini: How to Register? As mentioned above, registering on Bitcoin Gemini takes only 20 minutes. Here’s how you can register on this platform. Register with basic information: You need to provide basic information for creating your account. This will include your name, email address, and contact information. After you have registered and verified, you will get a licensed CySEC broker assigned to you. Give minimum deposit: You need to provide a minimum deposit of €250. This deposit can be used for initial trading. Practice or trade in real-time: You can use the demo account to practice or start trading in real-time. Final Word If you are asking if Bitcoin Gemini is worth it? Our answer is YES! Amongst numerous AI trading tools, Bitcoin Gemini is a great start for new traders. Check it out now! And for more information and such reviews, keep reading on Coin Informer!

blockchain technology

How Ethereum Blockchain Can Transform the Future of Financial Institutions?

If you are active on social media, listen to the latest news or chat with your colleagues, you might have already heard about cryptocurrency and how it is based on blockchain technology. Blockchain technology which sounds like something from a futuristic sci-fi movie is very much real and is gaining massive attention from businesses around the world. And for the right reasons! This technology shows massive potential in the financial industry for functions such as settlements, cross-border payments, organizing back-office processes, and so much more. But these changes haven’t yet disrupted the financial sector. The application is quite slow. However, with Ethereum blockchain gaining speed and attention, these changes can be implemented more quickly and efficiently. This will certainly have long-term effects on how financial institutions work and carry out their crucial business functions. Before we take a look at how Ethereum will bring massive and powerful change in the fintech business functions, let’s take a quick overview of the Ethereum blockchain. Ethereum Blockchain: A Quick Overview So, the first question that many people ask is “Why was Ethereum Developed?” Ethereum blockchain was initially developed to diversify the use of Bitcoin. However, it has evolved prominently for implementing ‘smart contracts’. VitalikButerin first proposed Ethereum blockchain in 2013 which eventually went live in 2015 with its beta version. The native token of the Ethereum blockchain is Ether which has a market capitalization of $25 billion. This is just behind Bitcoin and hence it is the next most popular cryptocurrency in the market. Ethereum can be used to trade anything without needing any third-party approval. Using smart contracts via Ethereum reduces the need for a legal system, judge, or court. Ethereum Virtual Machine (EVM) will not only execute smart contracts but can also be used to bet or execute wagers, coupon-paying bonds, employment contracts, purchase high-value items using Ethereum as escrow, and more. The potential of EVM is certainly high and powerful. However, it is still in its beginning! Several things need to be developed to make it accessible to everyone. Currently, smart contracts are highly expensive but to make them affordable, massive technological development needs to be achieved in the Ethereum blockchain technology. Ethereum Will Give Rise to Decentralized Autonomous Organizations (DAOs) The execution of DAOs using smart contracts will become a real-time possibility using Ethereum blockchain technology. These decentralized organizations will have business functions similar to any other regular corporation, however, without much human intervention. Most corporations are just a huge network of contracts and obligations. This complex network can be converted into DAOs using Ethereum. Ethereum and Decentralized Applications (Dapps): Already a reality! Ethereum and Dapps are already a reality! Although DAOs are still a thing of the future, Dapps have already come into existence. These are standalone applications such as payment gateways, gambling applications, P2P marketplaces, and more. The implementation of the Ethereum blockchain will eventually extend to day-to-day applications such as chat, shopping, gaming, and banking. Final Takeaway Although Ethereum blockchain was developed to support and enhance the functions of bitcoin, it has found its niche in smart contracts. The blockchain shows immense potential to completely transform how financial institutions execute business functions. Keep reading more about cryptocurrency technology with us at 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!

crypto market

Self-Regulation of Cryptocurrency Exchange: Will It Work?

Cryptocurrency Exchange: The cryptocurrency market is highly volatile. Investors have always been too skeptical of investing in this market considering risks. And to top off the trading risks, there are high risks of hacks and scandals associated with crypto currency exchanges. These factors have kept several investors from trading in this market. Moreover, governments are still figuring out a way to regulate crypto currency exchanges to make trading a bit secure. However, there is still a long road to go for the government before we get crypto currency exchange regulations. So, what can exchanges do to ensure that trading in this exciting, yet volatile market becomes a tad bit secure? The answer is simple. Self-Regulation of crypto-currency Exchange. Self-Regulation: What is it? Now, let’s just get one thing straight, self-regulation is not a new concept. There have been several instances where self-regulation has worked and shown growth in the respective market sector. For example, commodities trading is self-regulated by the National Futures Association (NFA). Similarly, for the cryptocurrency market, self-regulation can include different aspects such as code of conduct, guidelines, industry organizations that will guide the market participants for secure trading. Self-Regulation can be based on different ways such as KYC (know your customers), security against hacks, or maintaining transparency. Apart from the set self-regulation guidelines by the International Organization of Securities Commissions, crypto-currency exchanges can also be regulated by independent market associations similar to NFA. Will Self-Regulation Work in the Cryptocurrency Market? The biggest question is whether self-regulation works in the cryptocurrency market. Will it help to regulate the operations in this highly volatile market? The answer is YES! There are several examples where self-regulation of the cryptocurrency market has helped traders trust investing and trading cryptocurrency. The Coincheck hack in 2021in Japan is a prime example of how self-regulation can help maintain the security of this market. The hack resulted in crypto currency exchanges enhancing their security checks. In fact, Coincheck went a step further by giving their customers partial refunds. This was done in association with the Japanese government and market associations. Another example of self-regulation for crypto currency exchanges came when the South Korean government announced overheated trading. This prompted crypto-currency exchanges to implement self-regulation strategies that will protect the interests of investors, their assets, and provide greater transparency. So, yes, the self-regulation of crypto exchanges can work. Have countries already implemented the self-regulation of crypto exchanges? Although there is a still long road ahead, some countries are implementing the self-regulation of cryptocurrency. Japan has implemented self-regulation with the Japanese Blockchain Association which has more than 100 members. Amongst these 35 are cryptocurrency exchanges. South Korea blockchain association also has 25 members with similar goals. India has established the Blockchain and Cryptocurrency Committee (BACC) with 7 crypto exchanges as part of the association to regulate the market and create a code of conduct. CryptoUK is another self-regulatory committee in the United Kingdom formed by seven cryptocurrency exchanges. The USA is still in the phase of proposing a self-regulatory body. However, Gemini developers have proposed the establishment of the Virtual Commodity Association (VCA) as self-regulatory for crypto exchanges. Final Takeaway Governments are still far away from establishing any regulatory commission for the cryptocurrency market. Until then, self-regulation offers a great way to make this market secure and protect the interests of investors. Want to keep reading about the cryptocurrency market, news, guides, educational content, and more? Keep checking our blogs at Coin Informer!

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Category: Stocks