There is nothing more pleasant than a steadily growing market. Bitcoin overcame the $8,000 mark
July 24 ’18 Daily Rates
Bitcoin trading, and the whole cryptocurrency market, in general, has become so popular since it first came to birth a decade ago. While many remain skeptical about Bitcoins, there is also no denying the fact that it enjoys so much popularity, with many more wanting to get their hands on this form of trade. Bitcoin, in essence, is a form of digital currency, which allows you to perform almost any kind of transaction online. However, as effective and popular as Bitcoins may be, you also cannot discount the fact that Bitcoin trading is with very little to no government regulation at all. Hence, you might easily fall into the hands of fraudsters and scammers. If you aren’t prudent enough, you are only going to lose your hard-earned investments rather than enjoy earning from it. That said, here are some of the telltale signs that can tell you whether or not your Bitcoin trading platform is safe: It Doesn’t Ask For Too Many Fees Here’s the real deal: most Bitcoin trading platforms, such as Bitcoin Rush, offer their services for free. Generally, the only amount that they will be asking from you is one which corresponds to your initial deposit. There are no hidden charges and no add-on fees. Whatever services you want to avail of in Bitcoin trading platforms, you can do so without payment. Most Bitcoin platforms require only the initial deposit of around 250 US dollars, an amount which will form the starting point of creating your Bitcoin wallet. Part of this amount will be used by trading platforms to generate trade and facilitate exchange. If the Bitcoin platform you encounter constantly asks for fees or payment for services, treat it as a red flag. As much as possible, always choose the trading platform that asks for a lesser amount of fees. It Is Permission-Less Legitimate Bitcoin trading platforms do not require you to click a link to ask for permission from a third party so you can use the platform. If you come across this kind of pop-up, then close it immediately and leave the trading platform. Chances are, this is fake. Or it might only be a scam or virus that is trying to infiltrate your system. Legitimate trading platforms can be used immediately after you install it in your system. There is no need for you to go through a gateway that asks for permission before you can start sending and receiving Bitcoins. It Is Free From Malware Downloads If you have been using your computer for various software and platforms, you would know that many fraudsters take advantage of malware or downloads, which they use to go through your computer. These are referred to as baits, which serve as traps that send a virus to your computer after clicking them. Because Bitcoin trading has little government regulation and security, scammers can trick first-time Bitcoin users into choosing their trading platform, wherein users are exposed to numerous pop-ups and links that bring viruses to their computer. However, while Bitcoins are new and aren’t yet a formal type of currency, this doesn’t mean that its trading platforms do not look or seem professional at all. Tech-savvy individuals in the computer industry made Bitcoins, so you can expect them to have the same expertise in creating professional-looking trading platforms. It Doesn’t Ask For Your Credit Card Details One of the main reasons why a lot of Internet users use Bitcoins for online or digital transactions is that they do not have to key in their credit card details anymore. After you have purchased Bitcoins, you can put all these in your digital wallet. If the online merchant’s payment portal accepts BTC or Bitcoin payments, then you can use Bitcoins to pay for whatever goods or services it is you want to avail of. You can do this even without your credit card details. When you sign up for Bitcoin trading platforms, much of the information they generally ask from you involve only your name, email address, and contact number. That is all they need for you to create an account. Anything beyond that, particularly bank and credit card details, should already be a red flag for you. The only time that a trading platform will ask for your bank details is when you are making a withdrawal request for any income or interest that you may have earned from your Bitcoins, which you can change into fiat money. It Doesn’t Offer Too-Good-To-Be-True Returns Overnight If you come across a trading platform that promises to double your investment overnight, you should certainly run away from it. No matter how advanced Bitcoin trading and cryptocurrencies may be, this also doesn’t mean that the returns they promise are guaranteed. No one gets rich with Bitcoins overnight. It also takes a lot of hard work, an understanding of algorithms, and speculation of the current market for Bitcoins to grow. Its Testimonials Are Great In line with the above-mentioned point on returns that are too good to be true, one of the best ways to tell if your Bitcoin trading platform is safe is to read through the testimonials. Legitimate Bitcoin trading platforms are open enough to show you their users’ testimonials and reviews before you sign up. These are open for the public to see. If this information is unavailable on their website, you can quickly check through your best friend, Google, and search to see if that platform comes in highly recommended or not. If there is any information that might sound off to you, then trust your instinct. Go ahead and look for another trading platform instead. This technique is one of the easiest ways you can stay away from major Bitcoin scams. Conclusion Putting your Bitcoins in a trading platform is like investing your money in funds or stocks, or your ATM card. If you aren’t careful enough to choose wisely, you are putting your investment in the wrong hands. You have to be wise enough to make the right decision. Because of its popularity, there are currently numerous Bitcoin trading platforms for you to choose from, and with the help of these parameters, you can now be more guided as to which option might be the safest. The post How To Tell If Your Bitcoin Trading Platform Is Safe appeared first on ZyCrypto.
Detour ahead. After enjoying a bullish few weeks during which Bitcoin rode into five-figure heaven on the back of Libra bulls, Bitcoin has endured a rude awakening. Regulation was always going to be a prominent roadblock for Facebook. This was proven so after everyone with an ounce of authority and screen-time launched a barrage of […] The post Bitcoin’s price is taking a sharp U-Turn; where have all the Libra bulls gone? appeared first on AMBCrypto.
Coinspeaker Why Should You Day Trade Ethereum?While Bitcoin – and the blockchain technology behind it – are the trailblazers of the crypto world, there are now many cryptocurrencies competing for supremacy, foremost amongst these being Ethereum.Why is Ethereum so Important in the Crypto Sphere?Launched 6 years after Bitcoin, Ethereum is currently the second-largest and most widely accepted and traded cryptocurrency. Why? Because the Ethereum network is an ecosystem in itself, providing very promising solutions to wide-ranging fields, from finance to health.While Bitcoin can only be described as a peer-to-peer decentralized payment system, the Ethereum network (and its currency Ether) is more than just a payment system or a digital currency.While both are based on blockchain technology, the Ethereum network went further, introducing the world to “smart contracts”. These contracts represent a piece of code, written to dictate the way online transactions happen within an application.With smart contracts, Ethereum offers endless autonomous possibilities within the Ethereum blockchain network for governments, institutions, and businesses around the world wanting to incorporate these applications into their day-to-day activities.The fact that you can build a decentralized app (dApp) on top of the Ethereum network has catalyzed the crypto-market over the last few years, leading many to describe Ethereum as a leading driver in the crypto-industry.As more and more people believe that digital currencies will become an important part of our financial system in the upcoming years, more money is being invested in cryptocurrencies every day.Day Trading Ethereum CFDs vs. Trading Ethereum through an ExchangeThe crypto market is a quite new and unregulated market, whose price fundamentals are still unclear. This uncertainty often triggers large price movement in both directions (upwards and downwards).At the time of writing, for instance, Ethereum has gained more than 69% since January but lost more than 22% this month. While this volatility is great for day traders, as they can seize upon these trading opportunities via CFDs, it is not great for people holding Ethers in a wallet for the long-term, as the tokens may yet prove to lose value over time.Ethereum token ownership is the big difference between trading Ethereum via CFDs and buying and selling Ethereum through an exchange. With CFDs, you do not own Ethereum tokens, you’re only taking advantage of the price changes of the digital currency. However, when you buy and sell Ethereum through an exchange, you own the tokens and you need to store them in a wallet (paper, hardware, online, etc.).Trading Ethereum CFDs has other advantages, such as leveraged/margin trading, the possibility of profiting from both rising and falling markets, and trading within a regulated environment with trader protections, such as negative balance protection.How to Choose the Right Broker to Day Trade Ethereum?When using CFDs on Ethereum and other cryptocurrencies, you need to be sure you’re using a reliable broker that provides the best trading conditions for your trading style.With easyMarkets, day trading Ethereum is easy and safe – you can take advantage of market volatility with great charting and trading tools, while protecting your capital with money and risk management tools, such as free guaranteed stop loss, and fixed spreads. easyMarkets is licensed in Cyprus and Australia.Remember that in choosing the right broker for your day trading strategy, you should first determine whether or not it is licensed and regulated (in the more territories, the better). Then, verify how available and knowledgeable the customer service is. Finally, test the trading platform to be sure it suits your needs (technical indicators, charting and drawing tools, variety of orders, etc.).Why Should You Day Trade Ethereum?