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What you need to know about bitcoins

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In recent years you have probably heard it often: the bitcoin. It was often reported on the news and thousands of people have become very rich (or very poor) because of it. If you have never studied bitcoin, it is probably all very vague for you. Still, it can be a very interesting topic that you can delve into. To get you started, I’ve outlined the basic information about bitcoins in this article here.

What exactly is bitcoin?

Developments in the field of internet and technology and the growing mistrust of banks after the financial crisis in 2008 led to an increase in demand for a new digital payment method. Bitcoin was the solution to this. Bitcoins are, to keep it simple, digital coins that you can use just like normal money. You can trade in them by buying and selling them, but you can also pay with them in various web shops. It is a so-called ‘cryptocurrency’.

Bitcoin’s value fluctuates enormously. In 2017, the bitcoin experienced an unprecedented rise and at one point the currency even had a value of almost 20,000 dollars. A lot of people talked about the coin this year, but a year later the hype faded and its value plummeted.

How to buy bitcoin

Everyone has the option to buy bitcoin. There are three ways to get bitcoins:

  • Via an online exchange office. Here you can easily pay the bitcoins in euros via, for example, iDEAL. However, a currency exchange is not the cheapest way to get bitcoins, as the companies behind these offices charge a certain percentage in commission to make a profit.
  • Through an exchange. Buyers and sellers come together at an exchange fair. Such a platform does not sell bitcoins itself, but makes it possible to exchange the currency for a payment. The costs here are a lot lower than with an exchange office, but it is a bit more complicated.
  • From another user. You can also buy bitcoins from other users. People offer their bitcoins through online marketplaces. It is more anonymous than the aforementioned options, but therefore often a bit more expensive, check this guide .

How much is the bitcoin worth?

As mentioned earlier, the value of the bitcoin fluctuates enormously. Unlike regular stocks, bitcoin has no opening or closing price. The bitcoin exchange rate is established on international, online exchanges where the buyers and sellers trade in the currency. It’s a question of supply and demand. When the bitcoin price falls, the supply is greater than the demand and when the price rises, there is more demand than supply. Learn how to buy defi coins.

You can clearly see in figures that the value of the bitcoin differs so much. In the past 12 months, bitcoin was most expensive on June 27, 2019 (price of 11,426.17 $) and cheapest on February 15, 2019 (value of 3,177.63 euros). So there was a difference of more than eight thousand euros in between!

Where do you keep your bitcoins?

When you buy the digital coin, you naturally want to be able to store it somewhere safe. This can be done in a digital wallet, better known as a wallet. Such a wallet has a public and a private key. It is not a key as we know it, but is a kind of password; a series of dozens of letters and numbers that is very difficult to guess. The public key is a kind of letterbox: it is a digital address that people can send something to, only you can access it with your secret key.

There are five types of wallets, namely on your computer, on your smartphone / tablet, online, on certain hardware or on paper with QR codes.

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The Binance review 2022: things you may know for investing in Binance

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Binance cryptocurrency exchange has founded by a software developer named Changpeng Zhao in 2017. It is a decentralized cryptocurrency exchange that has based originally in China. Binance is the world’s largest crypto trading platform, and we are saying this because it provides a robust selection of trading options & features that is not much user-friendly. Investors may go through a steep learning curve as trading with Binance depends on the level of experience & knowledge.

Through its desktop or mobile dashboards, Binance provides a wide array of trading options through its mobile or desktop dashboards, like an impressive option of market charts & hundreds of cryptos. Although several options & features are unavailable to the United States & only 65 plus of the cryptocurrencies may be accessible to U.S. customers. Along with its tools & features, Binance also provides detailed learning, an NFT platform, & more. The NFT marketplace is also unavailable to U.S. customers yet.

Binance features:

  • Wide range of trading options & order types: it offers many trading options, including peer-to-peer, spot, & margin trading. It also provides many order types, such as limit & market order, stop-limit order & stop market order, post only order, trailing stop order, & one-cancels the other order. Few of these options, such as margin trading, are unavailable for U.S. users.
  • Low fees: Binance offers low fees, which means investors can retain more of their investment & earnings.

Binance users can also bear other fees. For a quick glance at the different fees attached with different withdrawal & payment types, you can refer to the following chart:

Payment mode                                                                                                       Fees

Wallet                                                                                                                          not applicable

ACH transfer                                                                                                                     Free

Debit cards                                                                                                                  4.5 percent

Wire transfer                                                                                                          $15 for U.S. users

Crypto conversion                                                                                                    not applicable

Buy & Sell Crypto                                                                                                            0.50%

Trades                                                                                                                          0.00% to 0.1%

How to Open a Binance Account?

If a user wants to open a Binance account, he must follow the following steps:

  • Visit the Binance site.
  • Click the “Get Started” button on the top right-side corner & enter the required info. The registration procedure can take some minutes, as Binance would verify your account.
  • Enable 2FA
  • Link the payment method
  • Deposit funds & start trading

Customer Service:

Binance provides three options to approach its customer support service:

  1. Submit a ticket: To submit a ticket & receive email help, users need to fill out a form on the website.
  2. Ask the general questions through chat: on the Binance website, a chat box is present on the bottom right side of the support screen. You can ask whatever question through conversation.
  3. Reaching out through Twitter: Binance has a Twitter account (@BinanceHelpDesk) for assistance & encourages the customer to tweet their problems to the company.

Conclusion:

In this binance reviews, we have seen that it is the world’s largest cryptocurrency exchange. An experienced and knowledgeable global investor who would be eager to find out different tokens & trade options, Binance may have the characteristics you seek. Active U.S.-based traders may find few opportunities on Binance.US, but it provides less supported cryptocurrencies than the global platform. Ensure a trader does his due diligence & compares the trading platforms before trading with Binance.

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How Much Should You Invest in Dogecoin in 2022?

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In 2013, Billy Markus and Jackson Palmer designed a payment system, which was meant to be a joke. Dogecoin quickly grew in popularity, and despite the instability, became one of the more popular cryptocurrencies on the market. Inspired by the Doge meme, Dogecoin became known as the first ever “meme coin” and inspired a number of imitators in the future. 

While, originally, it was meant to be a joke, today, Dogecoin has grown into something bigger. With a market value exceeding $8 million, the crypto has become the seventh largest electronic currency in the world right now. So, with that in mind, the question we are posing today is, “Should you invest in Dogecoin in 2022, and if so, how much?” 

Dogecoin’s History

As we said, Dogecoin was originally intended as a joke. The intention was never for it to become as popular as it did. This meant that, for a long time, Dogecoin was quite unstable, with its value fluctuating intensely. For a long time after its creation, Dogecoin was one of the most volatile cryptocurrencies on the market. Still, despite that, it garnered a huge increase in value in the first three days of its release, in large part thanks to the social media site, Reddit. Redditors were enamored by the idea, and the crypto soon went viral on the website.

The memecoin began to garner mainstream popularity around 2020. This led to people beginning to take the coin seriously, and today, Dogecoin is treated as seriously as any other cryptocurrency, on the various crypto trading websites that are popular right now. 

The State of Dogecoin Now

In 2021, Dogecoin was one of the top performing cryptocurrencies on the market, garnering a lot of media attention, and seeing quite a bit of traffic from traders. As of April, 2022, the price of Dogecoin is around $0.14, which is a marked increase in value from the beginning of 2021. Quite a few factors played a role in Dogecoin’s rise to prominence. 

Apart from the initial boost caused by Reddit, Dogecoin also became hugely popular on websites like Twitter, due to the attention it got from celebrities with a huge presence on the social media. Chief among them, was Tesla’s CEO, Elon Musk. Elon Musk is one of the premium supporters of cryptocurrency in mainstream culture today. 

But it wasn’t just Mr. Musk who brought Dogecoin to the attention of popular culture. Musicians Snoop Dogg and Gene Simmons of KISS, have also publically announced that they are investors in the memecoin (as well as various other cryptocurrencies), and their support of it seems to have raised the coin’s stocks by quite a bit. 

Dogecoin’s Future

Dogecoin is one of the most popular digital currencies right now, ranking seventh in the world. Though it’s popularity was largely garnered in 2021, as time goes on, the coin is becoming all the more stable, and better to invest in. Experts are predicting that, by the end of 2022, the coin might double in value, and reach $0.35. It is certainly expected that in the next 3 years, it will keep rising in value, however, the likelihood of the coin hitting the dollar mark before 2025 is quite low. Experts and seasoned investors believe that, while Dogecoin is becoming more stable, the investment is still on the riskier side, so traders should invest no more than 5% of their portfolios in the cryptocurrency. 

Conclusion

Cryptocurrencies are one of the most popular investment options in 2022, especially among younger generations. Among the various cryptocurrencies on the current market, Dogecoin stands out, in terms of value and potential. If you are looking to invest in crypto in 2022, Dogecoin should be among the top coins on your radar.

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Your Bitcoin Survival Guide: How to Avoid Losses and Scams

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Bitcoin is breaking the bank. Bitcoin-like crypto assets are worth $228 billion. Bitcoin comprises roughly half of this valuation.

There is a lot of money that you can earn through Bitcoin. Yet you must be mindful of the many obstacles. You must have a survival guide in order to remain profitable.

What should you do before your first Bitcoin exchange? How can you remain financially secure? What are some good investment practices with Bitcoin?. You can create an account in crypto exchanges australia to answer all these questions and you can use the best practices of Bitcoin to earn a lot of money. Here is your quick guide

Study Bitcoin Life

Mastering Bitcoin requires a lot of time and knowledge. If you are not familiar with cryptocurrency, start there. Understand how using crypto works, including how cryptocurrency is created.

Get familiar with the Dark Web. You don’t have to use it, but practices on there do influence how Bitcoin operates.

As you are studying crypto, take notes about different kinds of currency. You are not obligated to rely on Bitcoin. If another currency seems legitimate to you, you can gravitate toward that one.

Study the history of Bitcoin itself. Understand how it has changed in value and who makes use of it.

One of the mysteries of Bitcoin is its founder. Satoshi Nakamoto invented Bitcoin, yet no one knows who they are. You can get into this mystery, but you should remain focused on the economics of the currency instead.

Diversify Your Assets

Under no circumstances should you put all of your money in Bitcoin. It should be one component of your broader financial portfolio.

Before you start on Bitcoin, you should touch base with a financial advisor. They may advise you not to pursue cryptocurrency, and you may want to heed them. If they give you tips on crypto, you should follow them as much as possible.

Keep most of your savings inside a secure bank account. Check your account holdings every month to make sure no money is missing.

Invest in several businesses, each in a different industry. Industries fluctuate in popularity, especially during difficult times like the pandemic. Putting all of your investments in the hospitality industry leaves you open to major losses if the industry suffers a setback.

You can also buy real estate and hard assets like artworks. If you like currencies, you can exchange American dollars for British pounds and other holdings.

You can then throw some money into Bitcoin. You should also consider putting some money into another crypto for added security.

Don’t Get Hasty

Once you’ve bought your crypto, you may feel the need to spend it. But there is no need to do so.

Take a look at how the value fluctuates. If you hold onto your Bitcoin for a few months, you may be able to exchange it for more money.

Keep in mind that cryptos are relatively young and untested. There are very few experts in Bitcoin, and they may make spectacular statements about it.

Do not follow the word of anyone without researching their opinion. If you cannot corroborate their investment advice, you should not follow their advice.

When you are looking to invest, take a moment to make sure you are calm. You should never make a financial decision while you are emotional or distracted. Wait until later to calm yourself down before coming to a decision.

New technology is coming onto the market, including Bitcoin ATMs. Do not use this technology unless others have tested it. Visit websites like www.bytefederal.com to read informative reviews.

Stay Safe

Bitcoin may seem impregnable. But there are security concerns that you must be mindful of.

Secure your keys with a hardware wallet. Do not leave your Bitcoin on a semi-public trading platform.

Do not tell others how much Bitcoin you have. Talk to your financial advisor only and not your friends or relatives. They may get into your computer and steal your currency from you.

Under no circumstances should you give any information to strangers. This includes your personal details like your name or contact information. Even if they cannot steal your currency, they can impersonate you and do you harm.

Be Wary

Scams are very common in crypto. Confidence men like to show off their wealth and promise potential customers that they can earn a lot of money for them. Avoid people who seem false or conspicuous about their wealth.

All promises of guaranteed wealth are lies. Economic investments are always volatile, and even experienced traders can fail.

Look over contracts you sign, especially for programs like cloud mining. You can send contracts to financial advisors or lawyers for final approval. If they do not seem legitimate, do not sign them.

Some scammers send ransomware to your device. They then ask you to send them cryptocurrency in order to release your device. Go to an IT professional to get the malware off of your computer and do not pay the scammer.

Remember that Bitcoin has blockchains. Any transaction you make will have some sort of public record. Be mindful of this whenever you make an exchange.

Your Survival Guide to Bitcoin 

You need a survival guide to Bitcoin. Bitcoin life is complicated, so you should spend many hours studying it.

When you are ready to make investments, go broad. Invest in businesses, real estate, and various currencies, including other cryptos.

Do not make hasty financial decisions. Do your due diligence to make sure someone is experienced and credible.

Keep your personal and financial information safe and dodge scams whenever you see one. Anyone who guarantees profits is lying to you.

Bitcoin is evolving quickly. Keep up with the latest developments by following our coverage.

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