Should you invest in cryptocurrency to make money online
Investing in cryptocurrency could be a good investment with companies like Bitcoin and Litecoin gusting up the stock market. Cryptocurrency being a brand new business is grabbing attention all over the world but, it is difficult to foresee whether you will have the similar values for your money after a year. Bitcoin is the most popular cryptocurrency available right now with a rise in prices and it represent a great investment opportunity. Since January 2017, the value of a single Bitcoin has gone up more than 800% and the total market cap of all cryptocurrencies is 1300%. For comparison to stock market at same time is up about 17 or 18% so you can clearly see the difference between 1800 and 18%. So, the difference is pretty appealing and 800% return in one year sounds amazing but it comes with a lot of risks. In this article, we will enlighten you about the decision for investing in cryptocurrency and will it be a good idea.
Reason you should invest
There are some of the reasons due to which cryptocurrency such as Bitcoin makes global headers. One of the reason is structured around the paradox of digital currency and how it is organized. The second reason is that, at the moment the value of cryptocurrency is high although it is volatile. As the world becomes increasingly connected across global boundaries and our reliance on completing transactions there is a need of some sort of a universal method for payment so most of people think that cryptocurrency is filling that need. The cryptocurrency investors believe that the future has a lot in store for these currencies. Many investors are drawn to cryptocurrency because their prices are spiking. In 2013 Bitcoin sold for $15 a coin and now the price is up to $4000 a coin. So anytime an assets rise that dramatically, how many doubles cryptocurrency have created in 4 years and it’s doubling every half year. That is going to attract a lot of attention from the investors who are going to gamble that cryptocurrency will continue to climb like that.
If you are thinking to invest in cryptocurrency today, you are going to make some insane profits with prices doubling every half year. Cryptocurrency is going to continue to dramatically increase in price according to the investors. The price volatile can be very profitable if you get it right. The story of cryptocurrency is really interesting like a future Star Trek world. Invest in cryptocurrency with resources and earn decent returns with the prices going up continuously.
Cryptocurrency is the next step in the digitization of everything
There are couple of different reasons why you cannot ignore cryptocurrency. Cryptocurrency made the leap from an academic concept into a reality with Bitcoin creation. Bitcoin attracted so many people in the following years and has also captured the significant attention from investors and media in 2013. The main benefits of decentralization and anonymity in transaction has also favored cryptocurrency. Bitcoin, a new cryptocurrency first created in 2008, drew consideration to the possible money digitization, the incredible essential technology that makes the transfer of digital money possible, was mostly ignored. Here, you will find out how cryptocurrency is the next step in digitization of everything.
Lex Sokolin, who remains unidentified, told that the main reason why cryptocurrency cannot be ignored is supply and demand. If people believe that it has value it will keep having value. With Bitcoin people can do things that cannot be done with numbers in bank account or piece of cash. Whoever is willing to pay for it that is going to be the price for it. In modern societies most of the existing problem are related to money. With recent development in digital technologies is a new challenge for the society and economy. New digital payment systems signify something really different from the traditional coins. Cryptocurrency is still in its early stage but its occurrence and growth cannot be neglected.
Digitization is affecting human interaction in one way or another. Digitization is one of trends impacting the economy of the world and it is significant to stress that there is nothing unavoidable about the well being concerns in coming years. Digitization of everything is the future. The media has already seen the digitization with music. And the effect of digitization is vital your revenues go down to 50% in industry and then the remainder is all digital. Amazon is an example of the digital version of retail and they won about half of the market. Digitization is also happening to finance, equities, capital markets, robo advice, insuretech and neobanks. Bitcoin and the digitization of money is only the single aspect of it and it’s kind of expected. You can digitize your cryptocurrency and can enjoy the benefits of digitization that goes well beyond convenience and can transform your lives.
Ethereum price and how to buy
Ethereum is cryptocurrency and a blockchain platform which offers smart contract functionality. It is decentralized platform for app developers and was invented by Vitalik in 2013. It can be used to decentralize, codify, secure and trade about anything like domain names, crow funding, financial exchanges, contracts and agreements and intellectual property. Just like Bitcoin, Ethereum can be transacted around the web and mined. In this article, discover the prices of Ethereum and how to buy it.
Price of Ethereum
As on Thursday Decembers 20th, the price of Ethereum is $876.78.
How to Buy Ethereum
The easiest way to buy Ethereum is through one of the most popular Ethereum exchanges. It is vital to make a difference among actual Ethereum exchange that will sell you Ether like eTore that only risk on price. The only thing to be done with the platform is to buy Ethereum for flat currency either in Dollars or Euros etc.
To buy Ethereum the most convenient and cheapest way is through Coinbase
- Open an account for Coinbase
- Add up your payment method (bank account or credit card)
- Go to the option of Buy/Sell and select he amount of Ethereum you want
- Click “Buy Ethereum”
Coinbase will also charge you with a fee around 1.49%-3.99% liable on the payment method you select.
This is the worldwide seller of Ethereum. This website allows you to buy Ethereum with the help of your credit card and their exchange rates are slightly fair than the alternatives. Coinmama has been working in crypto space since 2014 and is a very reputable exchange.
CEX.io sells and exchange Ethereum through credit card however, the fees seems to be higher than other exchanges. The exchange rate for 1 ETH with CEX.io is around 7% greater than on Coinbase. Though CEX.io works with countries globally.
This is also one of the easiest ways to buy Ethereum if you already have Bitcoin. It takes around 30 minutes to trade a coins from one to another and the interface is clear and intuitive. Don’t use the exchange to buy Ethereum with flat currency as the fees is extremely high.
If you are only interested in buying Ethereum to earn on rate of exchange you can also capitalize in Ethereum CFDs (contract for difference) which is suited for experienced traders .The idea is that as an alternative of actually buying Ethereum you can just trade rendering to the rate of exchange. As cryptocurrency is still in beginning and its prices are highly volatile, this platform urges you to only invest the money you can afford to lose.
Tips to Extract Maximum Value from 51% Attack
Block chains are usually formed through linking several nodes with one another, where records of all transactions are stored. These nodes are secured and linked with one another through contemporary techniques of cryptography, which tend to provide ease and safety to the transaction records deposited in them. These transactions are verified and stored in the block chains through a procedure known as ‘mining’. Mining is the process which allows the release of new cryptocurrency inclusive of all verification steps required to be fulfilled before a transaction is added to the public ledger. The process of mining is completed by software and hardware specialists known as miners; who strive hard enough to provide safe and accurate transactions related to cryptocurrencies. Miners use several techniques to attain benefits from this business, among which the outstanding one is ‘51% attack’. The concept of 51% attack refers to the gaining of more than 50% of bitcoin’s networking computing power, of a miner. This maximizes a miner’s ability to control over the transactions to be done under the flagship of bitcoin market, as more the computing power or hashrate is, more will be the reward for a miner. Although 51% attack ensures profitable rewards for miners, but at the same it can cause pessimistic consequences if caught. Anyhow, Prescott agency has come up with certain tips which will surely assist you in maximizing the value from 51% attack:
- Go for Double-Spending:
In order to gain maximum rewards, miners should prioritize double-spending, which is only possible if they own 51% of networking shares. With the help of 51% attack, a miner can double-spend his or her own transactions. Double spending allows them to spend bitcoins in more than one transaction, this is usually done by dispatching more than one transactions in a succession. More the transactions done by a miner at his end, more will be the profit gained by him.
- Implement your Policies:
When miners own maximum of hashrate or computing shares, they are more likely to force other miners to follow and implement their policies. These policies must be designed in order to gain maximum rewards after each transaction.
- Generate Multiple Pools:
Miners owning maximum of shares, for instance 51% attack can generate multiple pools for the transactions to be carried out at their end. This would increase the probability of profit-gaining by them. Moreover, they can revert transactions to maximize their rewards.