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This is the age when virtual currencies are doing good. More and more users start using it in different countries, and that is why the prices of various virtual currencies are increasing at frequent intervals. With time the demand is rising, which is leading to an increase in rates. The markets have seen huge volatility in the last few months, and this month is also expected to be exciting for the traders. In this regard, many experts are expecting some volatility in Bitcoin price ahead of its monthly close. Let us look into some of the top reasons that may contribute to the high volatility situation in Bitcoin price.

Consolidation phase of bitcoin:

Bitcoin reached its yearly high price recently when it touched $12486 on Coinbase. However, after that, the price fell back, and it is struggling to break $12000 again. It is observed that whenever the price consolidates for a long duration without giving any breakout in either direction, volatility can spike up in the market. Any small range leads to a bottleneck situation, and it is likely to break out in one or both directions in the near term.

Options contract expiry:

The options contracts are expiring shortly, and this can also lead to high price volatility in the market. The open interest in the market is not as high as the pasta months, and millions of dollars worth options are waiting for expiry. In most cases, this leads to a lot of volatility in the near term, and even technical experts are looking out for such a possibility.

Selling pressure at $11900 levels:

Even though the price of Bitcoin has increased a lot on a yearly basis, it is not holding beyond $11900 levels, which is a cause for concern. Most experts believe that when the resistance levels are very strong, the BTC needs to cross it convincingly and hold above the level for a few weeks. Till then, it will keep facing selling pressure, and it may form a lower high on the charts.

These factors are influencing the price of Bitcoin in the market in recent weeks. All these factors can lead to a significant breakout in any direction, and traders need to be cautious while taking big positions. It is always a good idea to hedge your positions during such events as you will be able to limit the losses if the price moves in the opposite direction.

This article deals with everything regarding how Kim Dotcom predicted that BTC will be the one to rule along with the fact that he also said how the US dollars will have no value at all.

The Details on the Prediction that Kim Made

Kim Dotcom is a digital rights activist and an Internet Entrepreneur. He congratulated his Twitter followers who purchased Bitcoin after he advised them to do so back in 2018. On the 17th of August, a tweet was published saying that the founder of Megaupload, a now-defunct file-sharing website, also applauded for its followers who successfully capitalized on the rising cost of gold.

Kim Dotcom Thinks that the Traditional Currencies will loose Their Values in Future

In August 2018, Kim put a piece of advice to his followers that they should purchase gold and Bitcoin. He also added that the United States dollar bills will hold no value in the future and also the economy of the country is holding a great potential of heavy downfall. His gut feeling says that the BTC will take down all the traditional currencies.

Not Everyone was Moving According to Kim’s Advice

However, there is one user who actually debunked what Kim Dotcom had to say. He claimed that the ones who took his words seriously did actually nothing fruitful apart from doing something useless. To this Dotcom replied to this saying that he must be a novice.

Some More Details on Kim’s Enlightenment

As of press time, at present Bitcoin is trading higher than 12000 USD but on the other hand, gold has revived over 2000 USD within a few weeks. Kim Dotcom is well known for keeping a high interest in the world of cryptocurrency.

The Declaration Made by a Crypto Exchange

Bitfinex, a cryptocurrency exchange made an announcement on the 22nd of October that its IEO, which is the acronym for Initial Exchange Offering, the platform would be proffering digital content monetization token. It is known as K.im in partnership with Mr. Dotcom. But, the business made a very sudden cancellation of the token sale on the 5th of November mentioning the altering face of the controlling survey over such tokens.

That was an overall idea about the prediction regarding the domination of Bitcoin in the upcoming future and forever, made by the popular Internet entrepreneur Kim Dotcom.

The largest cryptocurrency trading conglomerate in the world has witnessed explosive growth in demands and investment recently. In only the first few months of this year, the company has seen a massive increase of around a billion dollars under its complete set of digital assets. Consequently, a spike in the sales of its shares was noticed as many investors scrambled to buy them up, thus increasing its valuation over ninety percent. Such an explosive and rapid broadening in its cryptocurrency business is a testament to the fact that more and more organized demand for crypto resources is developing across all investing centers.

Bitcoin no more the only overlord:

Interestingly, in these recent tides of increased interest, the underlying cause has not been Bitcoin this time. While Grayscale Corporation has always cataloged Bitcoin as their best player, this recent rise in success can be appropriately attributed to other popular altcoins such as Ether. It is the next best thing and has been rapidly gaining ground against Bitcoin’s industry favorite. Ether has also been petitioning the fiduciary department to become accredited as an SEC establishment, which will significantly improve its chances to rival Bitcoin on an even bigger scale.

Cause of the Voluminous Success:

This sort of burgeoning prosperity is undoubtedly influenced due to increasing investors’ faith, an excellent strategic trading routine, and fruitful collaborations with other top players. But it is worth noting some more concerning underlying reasons that may have fuelled the growth. One of the main ones would be the divide between the firm’s share costs and the premium of their crypto resources. Another would be the company’s volatile share price that has been going at a loss of ten percent. This may have led retail investors, who’d have bought those shares in better times to sell them now. And here, veteran traders would jump in, purchase those shares and take advantage of the differing costs of the premiums and Grayscale shares.

Nevertheless, the company has been on a righteous crusade to bring greater public awareness and interest into the whole genre of cryptocurrencies. With recent advertising videos dispersed to giant media conglomerates, Grayscale has been educating the people about the benefits of introducing altcoins into the mainstream.

The investors in the market understand the time value of money and hence look for the option where they can have quick trade. Therefore nowadays, they have turned to digital exchanges for ease of investing and trading. This can also prove as a good option for virtual currency lovers.

The growing competition among digital asset exchanges has meant that there will be less margins for every player in the market. Not only that, they are also forced to work on lower deposit and withdrawal thresholds to attract small and new investors. With interest growing both from the side of retail as well as institutional investors, these exchanges have to adapt to vast changes, including regulatory norms from different regions.

10000 exchanges across the world

You will be surprised to know that there are as many as 10000 digital asset exchanges around the world, and the number is all set to increase in the near future.  This is not an encouraging fact as it leads to various problems both for users and service providers. New investors will be confused about which exchange to choose from as they do not have a good understanding about various rates and features offered by these exchanges. On the other hand, exchanges will have to play with very less margins to sustain in this market.

Challenges of digital asset exchanges

One of the biggest challenges faced by digital asset exchanges is the price disparity that arises due to local regulations. As they have to match the price in the market, they will have to pair the cryptocurrencies with local fiat currencies and provide good liquidity options for traders. This becomes easy when the liquidity is very good in the market. However, as the market is still in the early stages, there is not enough liquidity to get a uniform price across the market. Due to this reason, different exchanges are offering different prices, and it is not uniform across different regions.

Institutional boom to digital asset exchanges

In the near future, the participation of institutional traders will provide the next boom to these starved exchanges. If the participation by these players increases in the future, it can lead to a good increase in trading volumes that will help the exchanges to build better infrastructure where they can process transactions at a good speed. The exchanges are in the process of developing fresh blockchain technology applications that can provide reliable and efficient service for traders.

Bitcoin is the future of money. Money as we know it- the form of cash or credit cards- will not disappear, but projections show that it will become redundant. And cryptocurrency will take over surely and safely.

How do you align your business with the crypto-currency trend?

We answer this question for you right here.

These are uncertain times for all of us. Covid-19 has brought all that was not working out in the open. There is room for a massive financial ‘rejig’. It’s also time for a cryptocurrency like Bitcoin to take center stage.

But what is Bitcoin?

Bitcoin is a peer-to-peer network that is controlled by no one. This means no institution or person controls it. This digital currency can’t be printed and only 21 million Bitcoins can ever be created.

For many people, the main benefit of using Bitcoin is that it’s completely immune to the interference of world governments, corporations and banks.

Benefits of Using Bitcoin

What are the benefits to you if you do decide to jump on to the Bitcoin bandwagon? Bitcoin is easy to use; Bitcoin transactions are faster; you pay lower costs than you do for credit card transactions, and Bitcoin transactions are anonymous.

Not one person or company can interfere with Bitcoin transactions, add to the fees on Bitcoin transactions, or take it away from people.

Another characteristic that makes Bitcoins very attractive to business owners and users alike is the fact that they are transparent. Each transaction is stored in a public ledger called the Blockchain, which is publicly distributed.

Many small businesses, like restaurants, in Singapore are announcing “Bitcoin accepted here” and attracting the new-age, savvy Bitcoin users who will also go out of their way to support a Bitcoin business.

Here’s an easy guide for you to switch to Bitcoin the oldest cryptocurrency in the market:

1. Creating a Bitcoin Address for Your Business

The first step is getting a Bitcoin wallet. This is nothing but the address where your Bitcoin using customers will transfer their crypto money.

This process works a lot like email. The customer has to type in your address, enter an amount and hit “Send.”

Similarly, you have to remove the crypto currency out of your computer or mobile at the end of the day and deposit it somewhere safe.

It’s always best to keep very little Bitcoin on your mobile or laptop.

You have a host of online tutorials on how exactly to set up the Bitcoin wallet and secure it against attacks. These are also extremely easy-to-follow.

2.  Using BitPay or Coinbase

These two are the major payment processors in the market. This way, you can input the money straight from the customer to your Bitcoin wallet, which can be linked to your bank account for withdrawal.

Most payment processors do charge either a percentage of your transaction. But these charges are still substantially less than what credit card companies charge.

Payment processors also offer a slew of benefits to you free. For example, you can send invoices through email or create a shopping cart plugin for your online sales business.

Furthermore, you have the added benefit of converting your cryptocurrency into fiat or regular money. This feature is very useful as it allows you to transact seamlessly with customers who want cash in fiat instantly.

3.  You Got to Advertise Widely that You Are Accepting Bitcoin

There are many bitcoin users out there who want to support businesses that use Bitcoin. It would be best if you reached out to them. You can do this by writing prominently on your store or restaurant front that you accept Bitcoin.

Similarly, you could add this piece of information to your website and social media accounts in the form of a “Bitcoin Accepted Here” button and your Mastercard and Paypal buttons.

Make some noise. It will work- as you will see!

4.  Paying Taxes

Your accountant will be able to guide you on how to keep records of your business’s Bitcoin transactions. Accountancy firms like Bitcountant and TaxNinja will do this easily for you if you prefer not to waste your time on accountancy-related chores.

These accountancy firms will also be able to handle Bitcoin-related tax issues. If you are in America, meeting tax obligations under the IRS’s guidelines is quite simple and straightforward.

Finally

Bitcoin is a relatively new form of payment, and so it is but natural that there are a few glitches in the chain. The spending options of Bitcoin are still limited for now. But the good news is that with each passing day, more and more small businesses like you are switching to Bitcoins and accepting payments in BTC.

Just follow the simple guidelines above and hop onto the cryptocurrency gravy train. You have nothing to lose and everything to gain, we promise.

What is Ransomware Attack?

It is the critical software used to demand a ransom. This software is designed as it can encrypt all files of the computer system. At the moment, when software encrypts all the files of the system, it automatically starts to demand ransom and threats the company or person. After this ransomware attack, the computer operator cannot see or use his files or system until he pays the amount.

Ransomware Attack on the English football club

In the past days, the cybersecurity authorities had warned the sports sector about the ransomware attack. On 23rd July, the UK national cybersecurity centre announced the report related to the ransomware attack against the sports community.

Recently, the English football league club hit the ransomware attack under which attackers demanded multi-million dollars in Bitcoin (BTC). According to the reports of cybersecurity, the ransom amount threat was 400 BTC ($3.66 million) from the sports sector. The sports club has rejected to pay the ransom, and as a result, they lost their whole stored data.

This Ransomware Attack could result in high loss

The report shares further information that the attack also resulted in more damages. The club lost its usage of corporate emails, turnstiles, CCTV systems due to the attack.

Moreover, there is not any public information that permits criminals to enter or gain access to their system and may access the CCTV system. Hundred thousand pounds is the cost of the attack, impart by UK cybersecurity centre.

Impact of ransomware attacks on the sports sector

40% of the attacks on the British sports authorities are related to the malware and a quarter of the attacks are related to ransomware.

 These attacks are growing day by day as cybercriminals target the high profiled sports authorities. The software behind these attacks is commonly available on the darknet.

Conclusion:

Going through the studies, it can be identified that the ransomware attacks are increasing from the year 2018. Ransomware attacks have increased worldwide by 200% in a small part of the time.

High sports entities are the main target of these ransomware attackers. Once the ransom is demanded, it should be paid, or the ransom will be increased with time. 

Not only sports authorities, but many other centres and authorities had also been targeted by these attackers in past years. So be careful with your files and data.

Crypto-currency is blazing trails in the market with its fast-changing values and high returns. The technologically sound system of crypto-exchange the system is very high in its safety and security ranking. The innovative new technology of block-chain development has ensured that hackers don’t have it easy when it comes to stealing crypto-currencies out of your e-wallet. The peer-to-peer network also ensures that transparencies are maintained by all parties involved, and the need for third-party is eliminated, granting less transaction of use. Added on top of that is the ease of use that comes with crypto-based exchanges where all you need is just a smart-phone and some sense.

Technology vs business

The technological end of a currency that is almost totally reliant on technology and software developments has to be perfect if not the best. Crypto-currency has achieved this heightened level of technological security with only a few hackers being able to crack its concrete firewalls. Block-chain and peer-to-peer networks are so designed that the cost of stealing would be greater than the original amount to be stolen itself, so this itself discourages hackers from attempting to cause any trouble. Thus the technological details of altcoins are not a big point of concern among users and investors.

What causes the most feathers to be ruffled is the business side of crypt-currencies. With a market that sees more ups and downs than a Disneyland roller-coaster, some seasoned investors steer clear of the crypto-exchange market being unable to keep up with volatile pricing. Price volatility has become a concern among the millions of users and investors taking part in crypto-exchanges, but it is important to note that there are certain cycles and patterns to the fluctuations seen in this market. So if one is adept at recognizing these cycles and patterns, then they may exploit this apparent kink in its armour to strengthen their own e-wallet.

But experts show consternation when the discussion focuses on the business model of crypto-currencies. It is important to figure out how and where the business value fits into the technologically sound system of exchange. One expert with considerable experience in telecommunication and e-currency adaptation pointed out that the selling point for crypto-currencies are not the block-chains and their ingenuity but rather how the product can be a better business model and the relevant issues regarding it commercialization can be solved.

The expert also commented on how the fluctuation pricing may also affect how the value is seen in its form for various users and investors involved. She explains her point of view by elaborating that in a business system, different values are ascertained by different users that are involved in the e-currency transactions.

Another expert also commented on how data optimization is also an important avenue in crypto-currency that needs to properly analyzed and developed. But the general consensus was achieved in the matters of optimizing and aligning the various features of crypto-currency with a user-friendly and compatible business-model that yields high returns and ensures a sustainable business environment.

Crypto-currency and the exchanges involved are still relatively new that are steadily reorganizing the past forms of financial ecosystems with a dynamic new sense of minute-to-minute movement. The experts may discuss and deliberate over the ways it can improve and fit more into the existing system of commerce. But it is also probable that this rapidly evolving form of currency may improve and the change system itself to fit more according to its features of financial volatility. But the fact that remains that user will flock to the alternative that helps them the most and are in their best interests.

In almost all countries, the use of virtual currency is being accepted now. Not only that, in some countries, there are platforms being developed for the trading of cryptocurrency, which can prove beneficial to many users and traders. This can also help to open a new option of trading for the traders and give a boost to the economy. The use of cryptocurrency can be termed very recent as it does not hold a long history, but it has gained huge fame in the short term, and that is why even authorities have to support it and take action to accept it to a larger extent. According to Phemex cryptocurrency derivatives exchange, it can process over 300,000 transactions per second, which makes it the fastest trading platform in the world. The derivatives exchange is led by 8 ex Morgan Stanley executives, and it has offered latency speeds of less than one millisecond. This can give some confidence to traders who want to buy and sell multiple contracts in bulk at the same time. The exchange also claims that it is less susceptible to outages as it offers 99.9999% availability.

Why is this crucial for the crypto market?

The exchange offering such reliability is crucial for the crypto industry. In the recent past, we have seen outages happen with various exchanges whenever Bitcoin moved by a significant margin. This has reduced the confidence of users on such platforms, and they are frustrated to get caught in the outage. Many traders have made a lot of losses due to such outages in the past. However, with reliability improving due to upgraded technology, it is now easy for traders to enter and exit trades without any hassles in a quick time.

Zero fees for spot trading

In most cases, we have seen that spot trading is very expensive as the fees are very high. However, Phemex has made it completely zero and provides a different subscription plan for traders. The basic plan that comes at 9.99 USDT per month will be more than enough for most traders. However, if you want to save more money, you can choose the three-month plan or go for the annual plan at 69.99 USDT. These plans allow unlimited trades across ETH, BTC, XRP, and LINK.

Customer support in multiple languages

The best part about the exchange is that customer support is available in many languages, which is essential to get traction in different countries. Many people want to have customer support in their native languages, and this will help them to trade without any hassles. This customer support is available round the clock, and users can access them at any point during trading hours and after hours.

Growth of Phemex

The derivatives exchange has managed to grow rapidly within a short duration of time. It has more than 150,000 users and has exceeded $1 billion in trading volumes during February. Most of the new features are still under development, and it also plans to launch different contracts that are backed by metals, energy, and commodities. In this way, users can get to leverage their assets in other investments. The company has also partnered with Banxa that offers fiat to crypto gateway solutions. With this partnership, it is now possible for users to buy BTC, ETH, and USDT by using a credit card and debit card.

In this manner, the presence of ex Morgan Stanley executives has made a lot of difference to this platform. This can bring a lot of expertise in the long run to the crypto trading market. This will be beneficial for traders as they can trade in a safe environment.

Just a week post the launch of Facebook’s Whatsapp Payments services in Brazil, it was suspended by the country’s Central Bank. In response to why the Central Bank had to take such a measure even when the Whatsapp officials were in constant touch with the authorities, the bank said the decision was taken to “preserve an adequate competitive environment.” The Brazilian banks have currently notified the Visa and Mastercard to stop facilitating money transfer services through the Whatsapp payments app until further notice. If the companies fail to comply with the order, it can lead to further administrative sanctions and financial penalties.

In the statement released by Brazil’s Central Bank, it also said that the bank didn’t have the opportunity to analyze and comprehensively go through Whatsapp payment before it was rolled out in the market. Around two years ago, Facebook rolled out Whatsapp Pay in India at a smaller scale for Beta testing. It is still waiting for approval for a nationwide rollout from the regulatory authorities. Brazil is the second-largest market for Whatsapp right after India. Apart from Brazil and India, Whatsapp Pay has been Beta tested in Mexico.

Whatsapp has been hoping that Whatsapp Pay would help businesses to accept and send payments as well as help the individuals carry out personal financial transactions. The company had planned to keep its payments services free for individuals but planned to levy a processing fee of 3.99 percent for the businesses. In India and Brazil, Whatsapp has played a crucial role in businesses and is the primary source of an online presence. As per Bloomberg’s survey, more than 5 million merchants from across the globe currently use the business edition of Whatsapp that has some additional features useful for businesses.

The decision by the Brazilian Central Bank to suspend Whatsapp Payments came as a surprise for the company. It is because Whatsapp has been in constant touch with the company. Whatsapp even rolled out Whatsapp Pay at a smaller scale for beta-testing in the country a month earlier. In a statement, Whatsapp said that the company plans to facilitate digital payments for all of its users in Brazil and that the company is committed to working closely with local partners, Central Bank, and regulatory authorities to make it possible. Whatsapp also said in the statement that the company is backing the instant-payment system developed by the Central Bank, which is slotted to be launched in November this year.

Post the announcement of the suspension of Whatsapp Payment services, Brazil’s Central Bank informed Visa and Mastercard to halt enabling money transfer services through the app. The Central Bank did inform that failure to comply with the order can result in hefty fines. The antitrust regulator of Brazil, known as CADE, also declared the suspension of the partnership between Whatsapp Pay and Cielo, which is a local electronic payment company.

As per the announcement made by the antitrust regulator on its site, it mentioned that the combined power of the Whatsapp user database and Cielo’s market share in the field of electronic payment can make it difficult for any new competitor to surface or sustain. The deal made between Cielo and Whatsapp Payments wasn’t presented to the antitrust regulators for evaluation. It is for this reason, the regulator and the Central Bank had to act fast to keep any competition-related concerns at bay.

The Central Bank of Brazil is in the process of evaluating the payment system of Whatsapp and if it presents any possible risk to the country’s payment machinery. The Central Bank is also using the suspension to evaluate if the payment system of the Whatsapp Pay is compliant with the local laws and regulations. The Central Bank said that letting the service start with the approval of the regulatory authority or evaluation by the bank can lead to irreversible damage to the payment ecosystem.  It can trigger concerns related to efficiency, privacy, data protection, and competition. The Cielo also said in a statement that they had suspended their service for now and would keep the shareholders in the loop of any new developments. Whatsapp Payment is one of the key projects that Facebook has been working on for a while and is hoping to roll it out by the end of the year after the Central Bank’s approval.

The concept of bitcoin and cryptocurrency has been known to many people. Bitcoin is the digital currency that many people hold. People who use cryptocurrencies state that this type of currency is quick and easy for everyone to use. These offer high privacy when compared to digital currencies. However, there is a very less amount of supply for bitcoin due to which many people are considering this to be the best investment opportunity for them. One should learn that cryptocurrency is highly risky.

There are many best bitcoin wallets available in the market. These wallets allow you to keep the bitcoins or digital currencies safely. However, not all wallets can store all types of digital currencies in it. The wallets come with different features and work on various platforms.

What is a bitcoin wallet?

A bitcoin wallet is a component that allows you to use the digital currency. The wallet would act like a bank account where you can keep the money. The bitcoins that you receive from others can be stored in the wallet safely. You can transfer the bitcoins to others from the same wallet.

It would be the user interface for the bitcoin network. You can use the wallets in the same manner as you use the bank accounts online. However, wallets can be accessed using the private keys and secret codes. This allows you to transfer coins to the recipient. You must safely keep the private keys rather than the bitcoins to access the cryptocurrency.

The bitcoin would be the wallet, app, or device that safeguards the private keys automatically.

What are the best bitcoin wallets available?

There are two types of bitcoin wallets available. One is the hardware wallet, and the other is the hot wallet. However, you can use either of these based on why you want to use cryptocurrencies. The hardware wallet is ideal to invest or save the bitcoin era. On the other hand, the hot wallet allows you to transfer and receive the bitcoins. You can get the software bitcoin wallet without spending a penny.

The bitcoin wallets available in the market would solve various problems. Each one would come with pros and cons. few bitcoin wallets would offer security while a few offer privacy. Based on your needs, you must use your wallet.

Coinbase

Coinbase is the best and quick way to sell, buy, and keep the bitcoins with you. It can hold other types of cryptocurrencies in the wallet. You can also link this wallet to the US bank account to transfer and receive money through this wallet. These dollars can be used to buy the bitcoins or other cryptocurrencies.

Users who are new to the world of cryptocurrency can use the online crypto wallet provider or digital exchange. It makes buying and selling bitcoins a piece of cake like you sell or buy the stocks. The wallet can retain up to 20 coins in it. The coins would US dollars and USD coins.

The best feature available with this type of wallet is the Coinbase earn. You can get some coins for free by taking the quizzes and watching videos. The cost of it would be huge. It cost you transaction fees when you are transferring coins from one account to another. The wallet can be used online or in the form of a web app. It comes for free and has multiple functionalities. It also comes with high security.

Trezor

This works like a wallet where you store the cash. If you lose the wallet, you lose all the coins stored in it. Many crypto hacks took place in recent times, and many are showing interest in using the wallets that offer high security. It is a hardware wallet that allows you to store the coins safely. You can connect this hardware wallet to the system or laptop. The screen appears where you can manage all the operations. It is available for a cost-effective price. It can store 1000 digital tokens and coins. You must keep it password protected without which you may lose the bitcoins. This wallet is ideal to use for desktops and mobiles. It is not for beginners and people who are not tech-savvy.

Ledger

It is another type of crypto wallet that allows you to store the bitcoins securely offline. This wallet looks like a flash drive, and you can connect them to the computers to use.

The device is highly durable. This allows you to check the balance, transfer, and receive the currencies with the software’s help. It enables you to store 1200 digital tokens and coins. You can use them on desktops and mobiles. It is highly secure to use and support different types of digital currencies. However, it is not for beginners.

Sofi

It is for beginners that offer you various options such as banking, investment, and different other products. You can use this to sell, buy, and store bitcoins. You must pay USD 1 to have an account on this hot wallet. There are five different currencies you can store.

You can store bitcoins and four other different types of cryptos. It works on desktop and mobiles.

Conclusion

Bitcoins are the digital currencies that can be used by the people who want to keep their digital currencies safe. There are different wallets available for it. You can choose the one that is easier for you to use and comes with many features.