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NFT Marketplace Clone: The Future of Digital Collectibles
NFT Marketplace Clone: The Future of Digital CollectiblesThe world of NFTs (Non-Fungible Tokens) is booming, with digital art, music, and virtual assets taking centre stage in the blockchain revolution. Platforms like Rarible and Foundation NFT are leading the charge in this space, but building your own NFT marketplace clone can open up endless possibilities for businesses and creators alike. In this blog, we'll explore how an NFT marketplace clone works, its benefits, and the key features you can expect from such a platform.
What is an NFT Marketplace Clone?An NFT marketplace clone is a ready-made solution that replicates the features of popular NFT platforms like Rarible or Binance NFT. It allows users to buy, sell, and trade NFTs using cryptocurrencies on a platform with pre-built functionalities. These platforms are built on blockchain technology for secure, transparent transactions and utilise smart contracts to ensure the authenticity and ownership of digital assets.
Why Build an NFT Marketplace Clone?
Cost-Effective: Creating a clone of an existing platform is much cheaper than building one from the ground up. The core functionalities are already in place, and all you need to do is customise the platform to suit your brand.
Faster Deployment: With a pre-built solution, you can launch your NFT website much faster than developing one from scratch. It allows you to enter the growing NFT space rapidly and take advantage of the booming market.
Security and Transparency: Powered by blockchain technology and distributed ledgers, NFT marketplace clones ensure high levels of security and transparency. Every transaction is verified and recorded on the blockchain ledger, offering users complete trust in the platform.
Customizable Features: From payment integrations to custom NFTs, you can modify your marketplace with ease. Want to integrate with popular wallets like top crypto wallets or enable crypto NFT payments? A clone platform makes it possible.
Key Features of an NFT Marketplace Clone
Blockchain Integration: Clones leverage secure blockchain systems like Hyperledger or Tron Crypto for immutable and transparent transactions.
Smart Contracts: Ensuring that each NFT transaction is secure and verifiable, smart contracts automate the buying and selling process without middlemen.
User-Friendly Dashboard: An intuitive interface that allows users to buy and sell NFTs easily, check NFT prices, and manage their assets.
Wallet Integration: Users can connect to blockchain wallets for smooth transactions. Popular wallets like MetaMask and Trust Wallet can be integrated.
NFT Minting: Artists and creators can mint their own NFTs on the platform, uploading and tokenizing digital assets.
Multiple Cryptocurrencies: The platform can support multiple cryptocurrencies for buying NFTs, from Bitcoin to Ether and Tron.
How Does an NFT Marketplace Clone Work?
User Registration: Users sign up on the NFT site and connect their blockchain wallet.
NFT Minting and Listing: Creators upload their digital assets, which are then minted as NFTs using smart contracts.
NFT Selling and Buying: Buyers browse through NFTs for sale and purchase using supported cryptocurrencies. Ownership is transferred via blockchain.
Payments and Royalties: The seller receives payment, and creators can receive royalties for secondary sales, all secured by the blockchain crypto system.
Why NFTs Are Here to StayThe rise of non-fungible tokens is more than just a trend. It's a paradigm shift in how we view digital ownership and the value of virtual assets. From gaming to art and music, NFTs are revolutionising the way we transact online. With NFT selling sites becoming more popular, platforms like Rarible NFT, Crypto.com NFT, and Binance NFT are setting standards for the future.
Examples of Successful NFT Marketplaces
Rarible: A decentralized marketplace where users can mint, buy, and sell digital assets without the need for intermediaries.
Foundation NFT: A marketplace dedicated to digital artists, allowing them to auction off their creations.
Crypto.com NFT: A platform offering NFTs across a variety of categories, from sports to music and art.
Conclusion: The Benefits of an NFT Marketplace CloneWith the increasing popularity of NFTs and blockchain investments, now is the perfect time to launch your own NFT marketplace clone. By adopting this solution, you can build a robust, secure, and scalable platform to capitalise on the growing demand for digital collectibles. Whether you're a business looking to monetize digital assets or an individual creator wanting to sell NFTs, a blockchain app tailored to your needs can offer immense value.
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BriansClub Review: Navigating the Controversial Marketplace
BriansClub is a name that rings bells in the cyber world, often associated with the darker side of online transactions. This infamous online marketplace has gained notoriety for being a hub for buying and selling stolen credit card information. In this review, we delve into the operations, reputation, and controversies surrounding briansclub review, aiming to provide a comprehensive overview of this underground market.
What is BriansClub?
BriansClub is an online marketplace that operates on the dark web. It specializes in the trade of stolen credit card data, often referred to as "dumps" and "CVVs". These terms refer to the raw data from magnetic strips of credit cards and the card verification values needed to complete online transactions, respectively. The marketplace offers a platform where cybercriminals can buy and sell this sensitive information, making it a significant player in the world of cyber fraud.
How Does BriansClub Operate?
Accessing BriansClub requires navigating the Tor network, which ensures user anonymity and makes tracking difficult. The marketplace operates much like any e-commerce site, with listings, categories, and a shopping cart feature. Users can browse through various types of stolen data, filtered by country, card type, and bank. Payment is typically made using cryptocurrencies, primarily Bitcoin, to maintain anonymity.
Sellers on BriansClub are usually cybercriminals who have obtained card data through various means such as skimming devices, phishing attacks, or hacking into databases. Buyers range from small-time fraudsters to organized crime groups looking to monetize stolen data through fraudulent transactions or cash withdrawals.
Reputation and Security
BriansClub has managed to build a reputation for reliability and a wide selection of data. However, like many dark web markets, it has faced significant security breaches. The most notable incident occurred in 2019 when BriansClub itself was hacked, resulting in the exposure of over million credit and debit card records. This breach highlighted the inherent risks of operating in such illicit markets and served as a cautionary tale for both buyers and sellers.
Despite this breach, BriansClub continues to operate, suggesting a resilient infrastructure and a loyal user base. Its continued existence points to the persistent demand for stolen card data and the challenges law enforcement faces in shutting down these operations.
Controversies and Legal Actions
BriansClub is at the heart of numerous legal and ethical controversies. It contributes significantly to the global problem of credit card fraud, costing consumers and financial institutions billions of dollars annually. Law enforcement agencies worldwide are actively working to dismantle such marketplaces, but the anonymity of the dark web poses significant challenges.
In response to the breach, law enforcement agencies gained valuable intelligence that has since been used in ongoing cybercrime investigations. However, the elusive nature of the operators behind BriansClub means that bringing them to justice is a complex and ongoing battle.
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GalaxyCoin Exchange is what? Overview for beginners
GalaxyCoin Exchange is what? Overview for beginners
For those who want to know how traders use the GalaxyCoin Exchange, here is an introduction for beginners, covering everything from spot trading to margin trading.
Key points
Spot trading involves buying and selling on a specific date.
Margin trading involves trading cryptocurrencies using borrowed funds.
Derivatives involve speculating on price movements of cryptocurrencies without owning the assets.
Limit orders are placed on the exchange at a specific limit price.
Market orders are executed immediately at the best available price. How does the GalaxyCoin Exchange operate? An exchange is a marketplace where buyers and sellers come together to trade assets at specific prices. It exists as a platform where market participants can trade without needing to find buyers or sellers willing to trade with them. The exchange facilitates this task. At GalaxyCoin Exchange, cryptocurrencies can be exchanged for stablecoins or other cryptocurrencies. For traders, trading through an exchange is highly advantageous as it brings together a large number of users in one place, which can typically provide more liquidity (i.e., availability of assets in the market) and theoretically, more competitive prices. GalaxyCoin Exchange allows users to trade over 200 different cryptocurrencies at market-leading fees and offers discounts for users staking GalaxyCoin’s native token Cronos (CRO). What is the difference between the GalaxyCoin Exchange and the app? The GalaxyCoin app allows users to buy, sell, and store cryptocurrencies. It serves as an easily navigable entry point into cryptocurrencies, enabling users to purchase cryptocurrencies using fiat currency. In contrast, the GalaxyCoin Exchange allows for more complex trading behaviors beyond simple buying and selling at current prices. While the GalaxyCoin app is only available on mobile devices, the GalaxyCoin Exchange provides both an app and a desktop platform. To start trading on the GalaxyCoin Exchange, users need to register for a GalaxyCoin Exchange account and complete the Know Your Customer (KYC) process. Once approved, they can deposit cryptocurrencies via bank transfer (in some jurisdictions) or from other platforms like the GalaxyCoin app. Transfers between the GalaxyCoin app and the Exchange are free. What are the most common ways to trade cryptocurrencies? Cryptocurrency trading can refer to various activities. Some of the most popular trading tools include:
Spot trading: Buying and selling cryptocurrencies and tokens (cryptocurrencies) on an exchange on a specific date (i.e., the “spot” date).
Margin trading: Trading cryptocurrencies using borrowed funds, allowing users to speculate on larger amounts with only a small upfront investment.
Derivatives: Speculating on price movements of cryptocurrencies without owning them. What are trading pairs? Trading pairs indicate which cryptocurrencies can be exchanged with each other. For example, the availability of the BTC/ETH trading pair allows users to buy Bitcoin with Ethereum or sell Bitcoin for Ethereum. It also enables users to compare the costs of different currencies. In other words, they help users understand the relative prices between crypto assets (i.e., how much BTC equals how much CRO when looking at BTC/CRO). The most common cryptocurrency pairings include BTC, ETH, and CRO — the two largest cryptocurrencies by market capitalization and our native token. GalaxyCoin Exchange offers users over 200 pairing options. Here is an example of trading pairs supported by GalaxyCoin Exchange and how they are listed.
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Immediate Connect | The Best Trading Platform In Update 2023
Get Started With Immediate Connect Today!
Get Started With Immediate Connect Today!
The automation tools and the clear interface of the Immediate Connect platform are all intended to be user-friendly and basic. It works for you by evaluating the market, advising you when to purchase and sell, and carrying out trades on your behalf—even if you're not experienced in trading. It provides traders flexibility over how much aid they want from the software, so both novice and expert users benefit from it. It works on both PCs and mobile phones, giving you independence.
What Is Immediate Connect?
The Immediate Connect app serves as a one-stop shop for all of your trading requirements. It has you covered whether you want to trade stocks, FX, cryptocurrencies, CFDs, or anything else. As a highly successful trading companion, the software analyzes market patterns, identifies ideal trading entries, and executes trades on users' behalf. It allows consumers to trade with freedom and flexibility on PCs and mobile devices alike.
Immediate Connect is ideal for both inexperienced and seasoned traders who wish to gain increased autonomy and profitability when trading cryptocurrency assets because of its clear and straightforward interface. Use this platform to change the way you conduct online transactions. With Immediate Connect, you may get immediate and dependable access to your most basic requirements at a time when connectivity is just as important as oxygen.
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an official website is more than just a digital billboard; it's a potent resource that keeps you informed, engaged, and prepared for every life event, no matter how big or small. Accept the wonders of instantaneous connectedness at your fingertips and see how Immediate Connect is transforming our relationships with the people and things around us. So buckle up, because we're about to take you on an exciting journey into the instant access future.
How Does Immediate Connect Work?
Real-time market movement analysis is done using Immediate Connects Reviews automation and machine learning algorithms to identify lucrative trade opportunities. To guarantee that investors' profits are maximized and their losses are minimized, it locates advantageous entry and exit points and then trades on their behalf by their defined risk parameters.
Benefits of Immediate Connect
Immediate Connect is a desirable option for cryptocurrency traders due to its many benefits. The following are the main advantages of Immediate Connect in 2023:
Powerful and Intuitive Trading Platform: Immediate Connect offers a robust and intuitive trading interface that can be used on PC and mobile devices. This enables traders, no matter where they are or what device they prefer, to stay connected and make wise judgments.
Demo Account Available: Immediate Connect provides a demo account for anyone who is either new to cryptocurrency trading or wants to improve their skills. With the help of this function, customers may practice trading with virtual money and get practical experience without having to risk any real money.
Cryptocurrency Trading: The exclusive focus of Immediate Connect is the purchasing and selling of well-known cryptocurrencies, such as Litecoin, XRP, Ethereum, Cardano, IOTA, Binance Coin, and Bitcoin. Because of this specialization, users are guaranteed a simplified trading experience with features designed with this market in mind.
No Extra Fees or Commissions: Immediate Connect makes the assurance that it won't impose any extra costs or commissions on top of the trading activity. Because of this open pricing system, traders may concentrate on making lucrative transactions rather than worrying about unstated expenses.
Strict Security Measures: In the realm of cryptocurrency trading, security is of utmost importance. Immediate Connect asserts that it employs stringent security measures to protect users' money and private data, providing traders with confidence when conducting business.
How To Use Immediate Connect Trading In 2023?
You can begin benefiting from the platform's knowledge as soon as you sign up thanks to Immediate Connect's extraordinarily easy and efficient onramp process. It takes just seconds to discover and navigate the elegant yet simple UI. After that, Immediate Connect Trading Platform walks you through the process of tailoring its potent algorithms to precisely match your unique trading style and risk tolerance. Immediate Connect's automation and artificial intelligence will soon produce more profits with less effort on your part.
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Create an account
First things first, create an account by visiting the official Immediate Connect bot website. To enter your personal information, such as your name, email address, and phone number, you will need to complete a registration form. After that, select the Learn More option and adhere to the prompts displayed on the screen.
Deposit Trading Capital
After completing the account creation and verification process, make a trading capital deposit. There is no maximum limit and a $250 minimum necessary. If you are a novice, we advise starting with a $250 investment and working your way up once you start booking earnings.
Explore Available Trading Options
You can learn about other people's experiences with this service by visiting the official Immediate Connect forum, even though the site does not provide Paper Trading. This aids in your comprehension of it and enables you to make the most of its capabilities.
Start The Live Trading in Real-Time
When you're prepared to trade live, you may either manually put your bets or launch the automated A.I. trading bot. You will be able to see the trade results directly on your dashboard in a matter of seconds. Enjoy the information to look for further investment options.
Withdraw Funds
Profits that are booked? Of course, you would. To take your money out of the website, use one of the several withdrawal options. The platform now distinguishes itself from the competition by not imposing any fees or convenience charges on consumers for withdrawals.
How Can I Initiate Online Trading Effectively?
Regardless of prior expertise in the global financial markets, anyone can engage in online trading, which is the process of purchasing and selling financial assets using the Internet. Although the initial stages of getting started are simple, making money online trading may be very difficult.
You will want a computer and a dependable internet connection to start your online trading adventure. You can start trading as soon as your account is funded and activated after you have successfully registered for a trading account with a reliable platform. It's interesting to note that, despite the ease with which one can initiate deals, trading success is far more elusive.
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It is essential to understand the many hazards involved. Thorough preparation, precise market research, a thorough comprehension of the variables impacting asset values, and an openness to learning from mistakes are all necessary for successful trading. Furthermore, there is a chance of losses if one is not skilled enough to take advantage of the profitable trading possibilities that high volatility in specific asset markets presents.
Notwithstanding these difficulties, advances in algorithmic technology have made more precise internet trading possible than before. Sophisticated algorithms built into trading software allow it to evaluate markets and pinpoint possible trading opportunities. Equipped with this invaluable data, even inexperienced traders can trade their favored assets online by making well-informed selections based on thorough market analysis.
Comparing Immediate Connect To Other Platforms
In 2023, selecting a communication platform will require careful consideration of all available possibilities to make an informed choice. Instant Connect is one such alternative that markets itself as the fastest method to communicate. Let's examine how Immediate Connect App differs from other platforms by comparing it to them.
Immediate Connect distinguishes itself by emphasizing cryptocurrency trading. Other platforms might have different communication features, but Immediate Connect focuses on giving users easy access to the top cryptocurrencies for trading. It features a robust and user-friendly trading platform that works with both desktop and mobile devices. Furthermore, Immediate Connect makes use of the popular MetaTrader 4 platform, which is renowned for its dependability and extensive analytical capabilities.
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On the other hand, typical customer support software platforms like Help Scout or Zendesk are mostly focused on handling support requests from customers via phone calls, social media, and email. These platforms work well to support customer service operations but are not made with cryptocurrency trading in mind. After contrasting Immediate Connect with alternative platforms, let's examine the advantages of using Immediate Connect in 2023.
Final Words:
Immediate Connect 2023 software can help you boost your cryptocurrency trading income while saving time. It eliminates the challenges of traditional trading and demonstrates to traders the simplest route to success in cryptocurrency markets. Immediate Connect, a pioneer in the financial industry, is opening doors for traders worldwide to benefit from automated, individualized cryptocurrency trading.
Through the use of automated features and artificial intelligence, Immediate Connect online trading assists traders of all skill levels in increasing their profits in the erratic cryptocurrency markets. We have made an effort to include all relevant information about the Immediate Connect platform. Please let us know what you think of it if you have used it or heard about it.
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Cryptocurrency can feel like a distant concept to the ordinary person. There are occasional reports of epic Market rallies, but there is a need to ease handling, storage, and spending crypto. After all, bitcoin founder, Satoshi Nakamoto, called it a “peer-to-peer electronic cash system.” Well, the cash system part is still a work in progress. bitcoin (BTC) has morphed into a primarily speculative asset, and fewer people than intended use it for payments. Dozens of competitive Altcoins have since emerged, offering better scalability than bitcoin. Therefore, a solution to ease the crypto spending challenges is vital for this sector. Enter CryptoWallet. This project seeks to alleviate crypto’s rigidity as a functional currency. Let’s explore what CryptoWallet has to offer to the Market. Integrating crypto banking and payment services Cryptocurrencies have one key selling point: decentralization. This quality means that every crypto owner has control over funds in their digital wallet, which is not subject to centralized sanction. That said, most people want their money to move. It should be easy to use your money to pay for whatever you want and preferably fast. Unfortunately, crypto comes short on the convenience side. The decentralization advantage is difficult to sell to people who are not traders or investors. CryptoWallet has identified this gap as a high-potential growth area. What does this platform offer? CryptoWallet allows users to create a versatile account for Cryptocurrency transactions. The idea is to create a one-stop shop for Cryptocurrency transactions. Think of how complicated handling crypto currently seems. Users typically have to go to a Cryptocurrency exchange to buy crypto and then transfer the same to a digital wallet for storage. After that, you confirm with a business or service that they accept crypto before using it for payments. If you don’t have that option, you must convert your crypto into fiat and then make the payment. That is quite a hassle, right? CryptoWallet offers the possibility of buying, storing, selling, and spending crypto simultaneously. Convenience is the goal because Cryptocurrency’s decentralization makes little sense without simplicity. Accordingly, users can spend their cryptocurrencies without needing multiple platforms for conversion to fiat. The option of peer-to-peer (p2p) transfers can also be inconvenient because of the classic barter trade problem of unmatching needs. Therefore, this option of providing in-house exchange possibilities eases spending because you can easily spend your crypto as fiat whenever you need it. The CryptoWallet crypto card It gets even better. CryptoWallet has a crypto card that operates much like your ordinary debit card. Imagine using your crypto to pay for services by simply swiping. You can get whitelisted for the CryptoWallet card to spend your crypto on the go. This possibility opens up the industry because it allows people to spend their crypto globally, even where the business does not accept crypto payments. CryptoWallet converts the crypto in your wallet to the local currency,and you are good to go. Users can now sign up for the whitelist to get their cards in Q4 of 2023. The fees on services like conversion to fiat are user-friendly and typically less than 1%. There is no Cost for initial card acquisition, which supports over 800 different cryptocurrencies at inception. Legal compliance and Security This platform operates from Estonia and is fully legally compliant to provide financial services in all countries where the services are available, primarily in Europe. Security is a vital consideration for handling crypto. There has never been a more perfect asset for hackers as the currency is digital and transactions irreversible. Therefore, CryptoWallet has enacted serious Security Measures to ensure user funds Safety. These measures range from 2-factor Authentication (2FA) for user accounts to the most Secure option of offline wallet storage.
For offline storage, users pick the option of the CryptoWallet card to continue controlling their funds even in offline storage. Crypto and Fiat are inextricably linked The purpose of money, fiat or crypto, is to ensure people can pay for goods and services. Looking at these two as antagonistic forces misses this primary utility. CryptoWallet promises to be the most significant bridge between these two standard bearers of modern finance. This platform solves the inefficiency of current crypto transactions by integrating proven and Secure financial solutions in a single platform. Crypto can grow its transaction medium role with the right support system. Even Altcoins with higher liquidity and scalability still mostly serve speculative ends. Using these tokens for payments is mostly within their specific platforms and not by the general public, as their whitepapers broadly proclaim. You are more likely to find crypto promoters encouraging others to “HODL” than go to their nearest store and pay for services. CryptoWallet has integrated tools to ensure that users don’t have to pick one or the other. You can own crypto and still have the spending ease of modern fiat transactions. The CryptoWallet app Your smartphone is the gateway to most services today. CryptoWallet has released its app to ensure users can seamlessly access all the services on offer. The app will soon launch on Google Play Store and is undergoing approval with the Apple App Store. The app is a direct tool for managing your crypto on CryptoWallet. It has a simple layout, and users can view multiple service options in one glance. The app is Secure and ensures that you can have an integrated crypto management tool in your palm. CryptoWallet unveils crypto potential CryptoWallet is finalizing its developmental phase in its quest to make a difference in the Market. The platform has incentives for early adopters who have either signed up or joined the whitelist for various services. CryptoWallet is reported to be working on a massive crypto airdrop for early adopters, with the caveat of having completed at least one transaction. CryptoWallet is a difference maker in a sector replete with similar ideas. This bridge between the fiat and crypto sectors can unleash crypto’s potential and spur its adopters to achieve similar outcomes.
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Understanding Cryptocurrency: Valuation, Blockchain and Workings
What Is Cryptocurrency?
Cryptocurrency is a kind of digital asset utilizing cryptography’s advanced encryption techniques to protect transactions and control the creation of new units. It functions independently from central banks and serves various purposes, including online shopping, investing, and even as a store of value.
These digital currencies operate on a decentralized network supported by a user community. This network is commonly known as a blockchain, a digital ledger of all transactions related to a particular cryptocurrency.
How Does It Work?
When a user initiates a transaction, the network of users broadcasts it to verify the transaction and include it in the blockchain. This process, called mining, involves solving intricate mathematical problems to authenticate the transaction and generate new cryptocurrency units.
Once a transaction is verified, it is added to a block, which is subsequently added to the blockchain. Each block in the chain carries a unique code or hash, produced through a cryptographic function. This ensures that each block is connected to the previous one in the chain, rendering the blockchain tamper-proof and secure. This process demands substantial energy and computing power, resulting in high production costs.
Understanding Blockchain:
Blockchain is a decentralized record-keeping ledger that securely and transparently logs transactions. It uses cryptography to protect and validate transactions before adding them to the blockchain as blocks. Once added, blocks cannot be altered or deleted, making the ledger secure and resistant to tampering.
Imagine blockchain as a towering stack of Lego bricks. Each block lists transactions, representing a Lego piece, and every block is connected to the one beneath it, just like a Lego stacked over another. Once added, blocks cannot be removed or modified, similar to how a Lego piece in the middle of the stack cannot be removed or changed once connected.
Various types of blockchain technologies exist, including public, private, and hybrid blockchains. Public blockchains, such as Bitcoin, are open to everyone, while private blockchains are restricted to specific users or organizations. Hybrid blockchains incorporate features from both public and private blockchains.
How Is Cryptocurrency Valued?
The market’s supply and demand dynamics determine a cryptocurrency’s value, much like any other asset. When more people buy than sell, the price increases, and when more people sell than buy, the price decreases.
Several factors influence their values. Adoption rates are crucial in determining a cryptocurrency’s value. As more people use a cryptocurrency, its demand increases, driving up the price. Market sentiment also affects cryptocurrency value, with positive sentiment leading to higher prices and negative sentiment leading to lower prices. Regulatory changes, technological advancements, and competition from other cryptocurrencies and traditional currencies can impact cryptocurrency value. It’s essential to research and understand these and other factors thoroughly before investing in cryptocurrencies.
Journey of Cryptocurrency in India
Cryptocurrency has evolved significantly in India since its inception. The Reserve Bank of India issued a warning against using cryptocurrencies in 2013, but the government didn’t officially declare cryptocurrencies as non-legal tender until 2018. Despite this, the cryptocurrency industry continued to grow in India, with many individuals and companies investing in it.
In 2021, the government proposed a new Crypto Bill that would effectively ban all private cryptocurrencies and establish a central bank digital currency (CBDC) called DigiRupee. However, the bill hasn’t been passed into law yet, and various stakeholders oppose it.
In 2022, the government proposed a new Finance Bill that includes a flat 30% tax
on the transfer of virtual assets, including NFTs and cryptocurrencies. To accommodate this, a new Section 115BBH was added to the Income-tax Act, 1961.
As a result, there is now a 30% tax, plus a surcharge and cess on the transfer of any virtual digital asset (VDA) such as Bitcoin or Ethereum under the Income Tax Act, of 1961. However, the legal status of cryptocurrencies remains uncertain.
Currently, cryptocurrencies in India are unregulated. The government has, however, started cracking down on illegal activities involving cryptocurrencies, such as money laundering and tax evasion.
Despite the ambiguity surrounding cryptocurrencies in India, many believe they have the potential to revolutionize the financial industry in the country. Cryptocurrency adoption could lead to increased financial inclusion and access to financial services for millions of people.
The Fall of FTX
The fall of FTX, a cryptocurrency exchange, has raised concerns about the stability and regulation of the cryptocurrency market. FTX filed for bankruptcy due to insufficient reserves to meet customer demand. The collapse has also affected academia, depriving researchers of grants and raising fears of forced repayment. Despite this setback, cryptocurrency continues to evolve globally, including in India, where the legal status of cryptocurrencies remains uncertain. Bitcoin, Ethereum, Dogecoin, and Binance Coin are some of the notable cryptocurrencies that have impacted the industry. Bitcoin and Ethereum differ in purpose and supply, but both are decentralized and rely on secure, transparent blockchains.
Downfall of Cryptocurrency
In 2022, the cryptocurrency market faced another major downturn, with many leading cryptocurrencies experiencing substantial drops in value. For example, Bitcoin, the largest and most well-known cryptocurrency, saw its value fall by over 50% from its all-time high in November 2021. Ethereum, another popular cryptocurrency, saw a similar decline, falling by approximately 40% from its peak. The total market capitalization of the cryptocurrency market also suffered a significant decline, losing over $1 trillion in value. Despite these setbacks, the industry continues to grow and evolve, with many investors and enthusiasts remaining optimistic about the potential of cryptocurrencies to revolutionize the financial landscape. As with any emerging market, it is important for investors to stay informed and understand the risks involved in investing in cryptocurrencies.
Notable Cryptocurrencies
1. Bitcoin: The first and most popular cryptocurrency, created in 2009 by an anonymous person/group using the pseudonym Satoshi Nakamoto. It operates on a decentralized network and uses a proof-of-work consensus algorithm.
2. Ethereum: a platform that operates in a decentralized manner and allows developers to build decentralized applications and execute smart contracts. Created in 2015 by Vitalik Buterin, it uses a proof-of-stake consensus algorithm and its own programming language, Solidity.
3. Dogecoin: A meme-inspired cryptocurrency created in 2013 by Billy Markus and Jackson Palmer. It features the Shiba Inu dog from the famous “Doge” meme and has gained a large following due to its community-driven and lighthearted nature
4. Binance Coin: A cryptocurrency created by the Binance exchange in 2017 means of exchange, while Ethereum was created as a platform for decentralized applications and smart contracts. This difference has resulted in the two cryptocurrencies having specific use cases and valuations.
Bitcoin vs Ethereum: Which one is Better?
Bitcoin and Ethereum are two renowned cryptocurrencies that have significantly impacted the development of the crypto industry. They differ in purpose and supply, but both are decentralized and rely on secure, transparent blockchains. Their values are driven by market forces and are prone to price changes.
Bitcoin utilizes a public blockchain, allowing anyone to join the network by running a node or mining Bitcoin. Transactions are confirmed by a network of nodes that verify the transaction and add it to the blockchain, creating a distributed ledger that records all Bitcoin transactions, ensuring security and transparency.
Ethereum, on the other hand, operates on a blockchain that enables developers to create decentralized applications and smart contracts. These applications function on the Ethereum Virtual Machine (EVM), a decentralized platform that runs code on the blockchain.
While Bitcoin was primarily designed as a store of value and medium of exchange, Ethereum was developed as a platform for decentralized applications and smart contracts. This distinction leads to different use cases and valuations for the two cryptocurrencies.
Bitcoin has a limited supply of 21 million coins, projected to be mined by 2140. In contrast, Ethereum’s supply is unlimited, with new coins generated through mining.
Despite their differences, Bitcoin and Ethereum share some common ground. Both are decentralized and function on secure, transparent blockchains. They are also subject to market dynamics, with their values determined by supply and demand.
In recent years, both cryptocurrencies have experienced notable price fluctuations. For instance, Bitcoin hit an all-time high of nearly $64,800 in April 2021, only to face a sharp decline in the following months. Likewise, Ethereum reached an all-time high of over $4,815 in November 2021 before undergoing a correction as well. Currently, the value of Bitcoin is $28,143 and Ethereum is $1,877.19.
Read more at: https://dsb.edu.in/understanding-cryptocurrency-valuation-blockchain-and-workings/?utm_source=Tumblr&utm_medium=Tumblr&utm_campaign=Cryptocurrency
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Top 5 forex trading platform in 2023
The foreign exchange (forex or fx) market is the world’s most active, with trillions of dollars in currency, exchanged around the clock, five days a week. Aspiring traders looking to enter this exciting market will need to find a forex broker that offers currency trading. However, choosing the right forex broker is not as simple as selecting a stock broker. To help you make the right decision, we have compiled a comprehensive guide to the best forex brokers available in April 2023.
CapitalXtend: A Top Online Forex Broker
CapitalXtend offers a wide range of tradable products, including currency trading, which is made possible by its highly regarded “MetaTrader” trading platform. This broker offers over 70+ currency pairs, allowing traders to take advantage of a variety of choices. TD CapitalXtend also allows clients to trade Bitcoins and Altcoins, making it an ideal choice for traders who want to explore the cryptocurrency market.
Interactive Brokers: The Best Choice for Active Traders
Interactive Brokers is a well-known brokerage firm that is popular among active and professional traders. Its powerful trading platforms and real-time quotes from major forex dealing banks make it an excellent choice for forex traders. Additionally, this broker allows traders to attach a forex order to hedge the currency while trading stocks on international exchanges. In 2021, Interactive Brokers began offering cryptocurrency trading, including popular cryptocurrencies like Bitcoin and Ethereum.
Forex.com: The Top Forex Broker in the U.S.
Forex.com is a broker that specializes in currency trading and offers a wide range of features, including a choice of pricing structures, such as spread or commission. This broker provides access to over 80 currency pairs, making it an ideal choice for traders who want to diversify their portfolios. Forex.com also offers the STP Pro pricing model, where prices come from global banks and others with no additional markup. With assets held with the broker, Forex.com is the top forex broker in the U.S.
Ally Invest: A Great Choice for Beginners
Ally Invest is a low-cost stock broker that offers currency trading, providing more than 80 currency pairs and easy-to-use charting software, including a mobile app. Ally also provides a $50,000 practice account, which is an excellent resource for beginners who want to try currency trading. The platform is user-friendly and easy to navigate, making it an ideal choice for novice traders.
IG: A More Specialized Broker Focused on Forex
IG is a broker that specializes in forex trading and is open to American investors. This high-powered broker offers a range of features, including a demo account that may help novice traders. The broker allows spreads as low as 0.8 pips, with pricing up to 20% lower on the euro-dollar pair than the top two U.S. brokers. The platform also provides an extensive range of charting capabilities across its platforms, making it an ideal choice for advanced traders.
[ Suggested read: What are the functions of the forex market? ]
What to Consider When Choosing a Forex Broker
While you may be familiar with many brand-names online stock brokers, only some of them offer forex trading. Instead, specialized niche brokers populate the forex trading space, catering to high-volume currency traders looking for every possible edge. Regardless of the type of broker you are targeting, there are a few essential features that you must consider before making your decision:
Pricing: Forex brokers have two ways to price their services: by baking the price into the buy-sell spread or on a commission basis. Spreads are often quoted in pips, which is one ten-thousandth of a point.
Leverage: How much leverage will the broker let you assume? In general, traders look for a higher degree of leverage to magnify the moves
Currency pairs: A handful of major pairs dominate trading, but how many other pairs (minors, exotics) does the broker offer? The most popular currencies include the U.S. dollar, the euro, the Japanese yen, the U.K. pound, and the Swiss franc.
Spreads: How wide are the broker’s spreads for trades? The larger the spread, the less attractive the trade. Brokers who charge a spread markup tend to have wider spreads because that’s how they get paid.
Regulation of Forex Brokers
Regulation of forex brokers is important for maintaining business standards and protecting clients. The Commodity Futures Trading Commission (CFTC) says that most scams involve unregistered people, products, or companies. Therefore, it’s crucial to use a registered forex broker. The CFTC registers and regulates forex brokers. A broker must meet certain financial standards, its personnel must go through background checks, and the firm must adhere to certain conduct and disclosure requirements.
You can check whether a forex broker has been properly registered by going to the National Futures Association website (which is under the supervision of the CFTC) and using its search tool. You can check a broker’s registration, its disciplinary or regulatory history, and financial information. Be skeptical of any entity that is not properly registered.
[ Suggested read: How to trade in forex market ]
Dealing Desk vs. Agency Broker
When trading forex, you need a broker to execute your trades. However, the broker may not always act in your best interest. There are two types of models: a dealing desk and an agency broker. They have different incentives as they execute trades.
An agency broker acts in the best interest of its clients and finds the best deal price. This broker does not hold any inventory of the assets being traded and acts as an intermediary. The client pays the agent for this service, which could save the client a lot of money.
In contrast, a dealing desk trades in securities and owns them at the same time. This structure means the dealing desk may not always work in the client’s interest but rather in its own. A dealing desk can operate as both a principal and agent in a transaction, creating some strange conflicts. As a principal, the dealing desk trades for its account, meaning that it may take a trade from a client in which it has a vested interest in the outcome. As an agent, the dealing desk can execute trades for a client and will pass along the trade price. Because of this structure, a client may never know where the dealing desk’s interests lie on any individual trade.
Conclusion
Choosing the right forex broker is crucial to success in the currency market. Each broker offers different features, so it’s essential to evaluate them based on your trading style and preferences. Consider the pricing structure, leverage, currency pairs offered, and spreads. Make sure that the broker is properly registered with the National Futures Association and has a good reputation. By following these tips, you can find the best forex broker for your needs and start trading with confidence.
Originally Published on Shortkro
Source: https://shortkro.com/top-5-forex-trading-platform-in-2023/
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eCommerce Accelerator
These days, it seems like everyone wants to get into eCommerce. We all want to make money selling something we’re passionate about and building a brand that we can be proud of. Whether the reason is to escape that uninspiring 9 to 5 job or just to make some extra income on the side, if you’re not that into bitcoin, crypto, or investing, eCommerce seems to be the perfect way to go. Plus, it’s fun! It can bring out your creative side as well as make you learn more analytical skills.
There are many ways to start an eCommerce business but one of the best ways I’ve come across is using the eCommerce Accelerator. ***Why eCommerce Accelerator vs other programs*** So why the eCommerce Accelerator? Simply because it’s cost-effective and it actually works. ==> Try here: https://www.salehoo.com/ecommerce/by:dearasifin There are many programs out there promising to teach you how to build an eCommerce store and while they may be able to do that, it ends right there. With the eCommerce Accelerator, they teach you how to do it and give you the tools to make it happen, so you don’t need to search elsewhere. Everything you need is right at your fingertips. ***What does the eCommerce Accelerator actually teach*** The concept of the eCommerce Accelerator is a 3-phase dropship to wholesale system that doesn’t require that much initial investment and is extremely easy to grow once you get product validation. Let me break it down for you: To build a sustainable, profitable eCommerce business, you’ll need to find the right product. That’s the core of what makes a successful eCommerce business - you need to make sure that demand is there. You need to find that ‘winning product’ in the beginning, before you start investing more money to create a brand and buy inventory. The quickest and cheapest way to do so is dropshipping, where you never hold any inventory and instead allow your suppliers to ship your orders to your customers directly. Then, once you use dropshipping to confirm a product that brings in profits and is in high demand, you move to wholesaling and manufacturing that product, and building a brand around that product. Hence, the ‘dropship to wholesale’ system. It’s not a ‘get rich quick’ scheme by all means, but it’s an incredibly effective way to build a profitable eCommerce business with a sustainable brand and product(s). ==> Try here: https://www.salehoo.com/ecommerce/by:dearasifin ***What exactly is included with the eCommerce Accelerator?*** The eCommerce Accelerator doesn’t just provide step by step courses on how to build a profitable eCommerce store, it also gives you the tools and resources needed to do so. That way you aren’t wasting time searching for solutions after you learn the know-how. The eCommerce Accelerator includes training videos taught by eCommerce experts who themselves have built multiple 6 and 7 figure stores. It also includes an industry-leading market research tool that quickly identifies high-profit products and is updated weekly so you’ll always know what’s trending. You will also get 3 month access to a top-of-class dropship automation tool that lets you list winning products to your store with 1 click. And when you’re ready to start working with manufacturers or suppliers, you’ll also get a directory of pre-vetted trustworthy suppliers who you can work with to scale your store. At the same time, you’ll be able to get 24/7 support from eCommerce experts so you’ll never get stuck, plus an active community of like-minded eCommerce entrepreneurs to support you as you build. They’ve also thrown in 8 high-value bonuses that you’ll need along the way as you build a fast growing eCommerce business. ***Conclusion: Should you buy the eCommerce Accelerator?***As someone who is quite experienced in this space, I’ve never seen anything quite like the eCommerce Accelerator. Why? Because it gives you the exact blueprint of how to create a sustainable, profitable eCommerce business but also gives you the tools and resources to actually make it happen. Other programs just teach you how to do it and it ends right there. Plus, SaleHoo is a company that has been around for more than 10 years. The founders behind the company are eCommerce business owners themselves and have tons of experience creating 6 and 7 figure online businesses. If you have any questions or doubts at any time of the process, you can easily access their award winning customer support staff which is mostly made up of eCommerce experts themselves. The program also comes with a 30 day money back guarantee in case you aren’t happy with it (though they give you very few reasons to be). As I said, I haven’t come across a program quite like this. The eCommerce Accelerator is something I’m really excited for you guys to try and once you get into it, you’ll see why. ==> Try here: https://www.salehoo.com/ecommerce/by:dearasifin Read the full article
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What are NFTs? Guide to buy non-fungible tokens in 2023
It can be a non-tangible object, such as a virtual drawing, or something physical, such as a property or a work of art.
What does NFT mean? Definition of ‘NFT’ Nft development NFT stands for non-fungible token. Although throughout this guide we explain in more detail the fundamentals of how NFTs work, the key is the following:
Non-fungible tokens are cryptocurrency assets that are represented in digital form. Unlike Bitcoin, however, which is fungible, each NFT token is unique from the next. This allows both tangible and non-tangible assets to be tokenized. This is in contrast to fungible tokens, NFT development company which are similar to cash. After all, a $10 bill is just like another $10 bill in terms of its ability to be used as a medium of exchange.
Ultimately, the core concept of NFTs is that you can invest in something of value without needing to physically own or store the corresponding item. Therefore, it is very easy to buy and sell NFTs in Spain on the open market.
What is an NFT? NFTs explained In many ways, explaining what NFTs are is not very different from explaining what traditional digital currencies like Bitcoin, Ethereum, or Dogecoin consist of. The reason is that NFTs are represented as digital assets and work on a network of blockchains.
Nft development solutions This ensures that NFTs can be transferred from wallet to wallet quickly, securely and at low cost. Being built on a blockchain network also ensures that NFTs are transparently verifiable.
However, what sets NFTs apart from the aforementioned digital currencies is that each token is identifiable by a unique transaction hash.
what is an nft?
And as such, what NFTs are is a store of value in the real world. On the other hand, cryptocurrencies like Bitcoin are fungible, which means that if you exchange 1 BTC for another BTC, it doesn’t change much. That is, you still have the value of 1 BTC in your portfolio.
But, in the case of NFTs, no token is related to any other digital asset in circulation, which is why they are described as non-fungible.
How do NFTs work? Now that we’ve covered the basics of what NFTs are, we can dive a little deeper into how the best NFTs work.
If you are thinking of buying NFTs in Spain on your own, it is important that you are familiar with how this niche in the blockchain sector works before risking your money.
Expendable vs. Non-expendable Although we briefly explained the difference between fungible and non-fungible tokens in the previous section, we will now go into much more detail.
In short, the physical euros and cents that we use every day to make purchases are fungible.
Blockchain protocol All the best NFT tokens are hosted on a blockchain protocol. To date, many NFT creators prefer the Ethereum blockchain, among other things because it supports ERC-721 tokens. Simply put, this specific subset of the Ethereum blockchain is ideal for NFTs, as each ERC-721 token is unique from the next.
That being said, other blockchain networks have started to support NFTs, such as Binance Smart Chain. Many argue that the latter is more suitable for buying and selling the best NFT tokens, not least because Ethereum transaction fees are usually very high.
NFT Minting When looking for the best NFT tokens, one term you will come across often is “coinage”. In its most basic form, minting simply refers to the process of creating a new NFT token that doesn’t yet exist.
Nft minting platform development This means that when you buy , you are buying a digital asset that has already been created by someone else.
If you have something unique that you want to represent through a unique crypto asset, NFT minting is worth exploring.
Fractional NFTs You probably know that standard cryptocurrencies like Bitcoin and Ethereum can be broken down into smaller units, ensuring that you don’t need to buy an entire token to access the market.
Now, many people are unaware that the process of dividing digital tokens into small units can also be accomplished with NFTs. In fact, this is one of its greatest features, as it allows multiple people to own something of value.
You are left with 6 NFTs (60%) and decide to sell the remaining 4 NFTs on the open market. The buyers of each NFT would therefore own a percentage of the property, if the agreement was supported by the relevant contract law.
Types of NFTs Now that we have explained how NFTs work, we can explore the different types of non-fungible digital assets on the market.
By this we mean a collection of real world examples of the best NFT tokens in Spain that have been sold in recent years.
physical real estate Real estate is perhaps the most interesting aspect of the NFT market, not least because it encompasses both physical and virtual assets.
Starting with the first, physical real estate is a perfect example of an asset that can be represented by an NFT token. Nft development services After all, no two properties are the same, which means that every home or condo is unique in its own right.
Furthermore, the house is now represented as an NFT token on top of the Ethereum blockchain. This means that, in theory, if the NFT owner wishes to sell all or part of their newly acquired property, they can do so through a simple wallet-to-wallet transaction.
#nft development#NFT development services#NFT development company#NFT development solutions#nft minting platform development#nft generator
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The Pros and Cons of Investing in Bitcoin
If you are an investor, you have probably heard of Bitcoin. If you haven't, here's a quick explanation: Bitcoin is a digital currency that can be used to purchase goods and services online. It's also known as a cryptocurrency because it uses cryptography (which is the science of encoding data) to create and maintain secure transactions. In layman's terms, Bitcoin is a type of money that doesn't exist in any physical form. Instead, it exists only in cyberspace, so it's really not a real currency at all. But it does have value, and that value is measured in terms of how much other people are willing to pay for it.
So why should you care about Bitcoin? Well, if you're an investor, there are a few reasons. First, you'll probably hear a lot more about it in the coming years. Right now, it's still fairly new, and many people aren't sure what to make of it. So, if you're looking for an investment that will have a lot of potential in the future, this could be one. Second, if you're an investor who likes to invest in technology, then this could be another great opportunity. Finally, if you're a tech geek or just like to dabble in the financial markets, you might want to consider Bitcoin as a possible investment.
What Is The Future Of Bitcoin?
Right now, Bitcoin has no central bank or government backing it. In fact, it's completely decentralized. This means that there is no single company or organization that controls it. Instead, it's controlled by thousands of users around the world who use their computers to process transactions. There is no central database that records the value of each Bitcoin. Instead, the value of each Bitcoin is determined by how many people are willing to pay for them.
There are several different ways that people determine the value of Bitcoin. For example, if a person pays someone else with Bitcoin, the person who receives the payment determines the value of the Bitcoin. Or, if a person buys something with Bitcoin, the seller determines the value of the Bitcoin based on the market price of that particular item.
As you can see, Bitcoin isn't regulated by any government or company, so it's completely free from the influence of the banking system. As a result, there is no central authority that can control its value. Instead, the value of Bitcoin is determined by the amount of demand for it.
What Are The Pros And Cons Of Bitcoin?
Now, if you're thinking that this sounds like a pretty risky investment, you'd be right. But before you decide to give up your cash for Bitcoins, take a look at the pros and cons of Bitcoin. Here they are:
Pros:
* Bitcoin is completely anonymous. This means that it's impossible for anyone to track where your Bitcoins came from or how much you've made. * There are no fees associated with using Bitcoin. You don't have to pay a transaction fee when you buy something with Bitcoin, and you don't have to pay a fee when you sell something for Bitcoin. * Bitcoin can be transferred quickly. Since it doesn't rely on any third party for verification, you can transfer your Bitcoins to someone else within minutes. * Bitcoin is relatively cheap to purchase. While it can cost anywhere from $10 to $20 per Bitcoin, most people find it to be very affordable. * You can send money internationally using Bitcoin. This means that you can send money to people in other countries without having to pay exorbitant international transfer fees. * Bitcoin is completely safe. Because it doesn't rely on any banks or other companies for verification, it's completely safe to use. * You can use Bitcoin to buy almost anything. You can use Bitcoin to buy products and services from online merchants, and you can even use it to pay for things such as utilities and food. * Bitcoin is a fast way to get money out of your country. If you live in a country with high exchange rates, you can convert your local currency into Bitcoin and send it to someone else in another country.
Cons:
* You have to download software to use Bitcoin. You need to install a Bitcoin client on your computer before you can start using it. * You have to have some technical knowledge to use Bitcoin. You need a computer, internet connection, and a little bit of time to learn how to use Bitcoin. * You may have trouble finding a place to spend your Bitcoins. Many merchants won't accept Bitcoins, and if you do find a merchant that accepts them, you may not be able to use them. * You have to wait for your money to arrive. Once you've sent your Bitcoins to someone, it can take anywhere from a few days to a few weeks for the money to reach the recipient. * Bitcoin is very volatile. The value of Bitcoin can fluctuate wildly, making it difficult to predict what the value of your Bitcoins will be in the future. * You have to be careful about scams. There are a number of fake Bitcoin sites that will try to steal your money. You need to be careful about which sites you visit and which ones you trust.
https://popscrypto.com/index.php/2022/12/23/the-pros-and-cons-of-investing-in-bitcoin/
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Should We have to Trust Bitcoin Revolution Bots for Cryptocurrency Trading?
Bitcoin Revolution says that its algorithm is based on an old strategy called "trend following." The idea behind trend following is simple: if the price of Bitcoin keeps going up, you should buy more of it because it will keep going up. And if the price of Bitcoin keeps going down, you should sell some so that you don't lose too much money.
The problem with trend following is that it doesn't always work out: sometimes the price goes up when it should go down, or vice versa. This means that if you're using Bitcoin Revolution, there's no guarantee that your bot will make money for you—it could just as easily lose everything!
If you want to make sure that your bot isn't going to lose all of your hard-earned money and time, there are a few things to look out for before signing up for one:
Bitcoin revolution is a bot that can be used to trade cryptocurrencies. This trading bot can be used in the most popular cryptocurrency exchanges like Binance or Coinbase. The main goal of this bot is to automate your trades and make them more efficient. The bitcoin revolution bot is also known for its high accuracy rates, which makes it a good choice for beginners and advanced users alike.
The main question that arises when using this type of software is whether or not you should trust it with your money? After all, these types of programs are not 100% accurate, so they can make mistakes just like humans do. In fact, it’s hard to tell if these programs are even legitimate because there are many scams out there that claim to be ‘bots’ but actually aren’t anything more than scams designed to steal your money!
It’s important to remember that no matter how good a program looks or sounds, it doesn't mean that it will work for you! There are many factors involved with trading cryptocurrencies successfully - such as market analysis and technical analysis - so relying solely on software could actually end up costing you money instead of making you any!
Expert team support
Bitcoin Revolution Bots is the ultimate crypto trading bot. It is designed to improve your profits by using technical analysis, machine learning and artificial intelligence to make more accurate predictions about cryptocurrency prices. The Bitcoin Revolution Bots app lets you trade cryptocurrencies on multiple exchanges at the same time, with no effort from your end. You can also use this platform to create a portfolio of all your trades, including ones that you have yet to make.
The Bitcoin Revolution Bots team has been working hard to develop the most advanced trading bots available today. The team is made up of experts in finance, technology and programming who are passionate about helping people succeed in their careers. They have developed a bot that uses advanced data analytics techniques to help traders achieve success in their daily lives by providing them with tools that will help them make better money decisions every day of the week.
The Bitcoin Revolution team also provides free support for their users, so if you ever need help with anything related to using their product then all you have to do is ask! They will answer any questions you have about how their bot works or how to use it properly so that it can give you maximum returns from your investment capital!
How does it work?
The software is designed to run on your computer and it will help you to make trades 24/7, without any manual intervention from you. It performs technical analysis of the market and makes decisions based on this information.
The Bitcoin Revolution bot is able to execute trades on more than 50 different exchanges at once, so you don't need to worry about trying to find a place where you can buy or sell your coins. All of these transactions are completed within minutes or seconds, depending on how quickly the exchange responds to your request.
The software also has a built-in feature that allows it to analyze which coins are most likely going up or down in value over time. This means that even if there isn't an active trade available right now, you'll still be able to take advantage of fluctuations over time without having to manually enter orders yourself every single day!
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It does kinda annoy me when people say the stock market is just gambling, just astrology-for-men, just a con - it ignores a lot of the interesting, real-world importances of the system.
That’s not to say that there’s not a lot of gambling and conning going on in stocks! - but that’s almost all in the sort-of ‘meta level’ of stocks, in the externalities and intricacies of the stock market itself, rather than what the stocks represent and correspond to. There’s a reason most regulatory agencies ban insider trading, market manipulation, and other cons and gambles that only care about the stocks as arbitrary objects of trade.
As an example of stocks-as-intended, stocks as actually related to material reality and production, we can take the case of the humble Chicken McNugget. Before the McNugget’s introduction in 1983, McDonalds didn’t sell chicken products. They had no connection to the chicken market. Given the vagaries of production, where a bad season, a freak storm, or any number of things could affect agricultural output, and thus the price of agricultural goods, expanding into the chicken market was a risky move. If they can only sell McNuggets to people for five dollars, and the price of chicken suddenly shoots up to four, they might not make as much of a profit (which, for a business like McDonalds, which requires constant expansion and growth, isn’t good) or even make a loss. How did they get around this?
Well, they bought futures stocks. Dumb move, right? Gambling isn’t going to help - it’s random chance. It’d be like spending your country’s treasury on Bitcoin (looking at you, Bukele). Well, not so much. The futures stocks they bought were in soybeans, maize, grains - chickenfeed, in short. A futures stock is, at its most basic, just a contract to buy a certain commodity in the future, but at its current cost, today. The way futures stocks work, if the price of the commodity rises, so does the value of the futures stock. If it falls, so does the futures. It’s equivalent to (but a lot more efficient and less hassle than) literally just buying a bunch of corn and soy at its current price to sell later, at the new price. If the price of chickenfeed went up, and thus the price of chicken went up, then the worse profits (or even loss) from McNuggets would be cancelled out exactly by the gain in value of the futures stocks. If the price of chickenfeed went down, the loss from the futures would be cancelled out by the increased McNugget profits.
In short, it was the specific relationship that these stocks had to material reality, the way they acted as an analogy for a more complicated movement of commodities and materials, that allowed McDonalds to sell chicken at a fixed cost. It was precisely the fact that these stocks were not random gambling, but related to actual production, that made them useful, and allowed for new developments.
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I recently had Robin Hanson on the CSPI podcast to talk about futarchy. It’s one thing to spread knowledge on a particular issue, it’s another to invent a new technology to create more knowledge in the world, and help apply it where needed. That’s what I see Robin doing. He convinced me that although it may take a very long time, one day humanity will give less of a role to systems like peer review and unaccountable bureaucracy in determining how we understand the world, and more of a role to prediction markets. The logic is just too compelling. But sooner is better than later, and if you want to be involved, please reach out.
…
The first step towards this glorious future is convincing people that a world where more decisions are made based on prediction markets is desirable and achievable. In that spirit, below is a transcript of our conversation, lightly edited for clarity. To read more about futarchy, see here.
…
Robin: Right. This conditional market mechanism hasn't actually been tested out in the world outside of the laboratory tests in that we haven't been able to get people interested enough to try it. We've had a lot of tests of speculative markets that aren't conditional in the sense that we've had markets on deadlines, whether you make a deadline in sales and things like that.
We've probably had 100 different trials like that over the last few decades. Typically what happens is that if there's enough support for the market in order to induce an affectivity then again the price is about as accurate or more accurate than the status quo and most users are satisfied. The costs are modest. That's been the history for many decades.
However a key problem is usually the market gets killed in the sense that an organization says to stop and doesn't continue it. The main reason is that it's relatively disruptive. These markets are politically disruptive. The way they are disruptive is analogous to, imagine you put a very knowledgeable autist in the C suite, that is somebody in the C suite that knows a lot about the company and they go to the meetings. They just blurt out when they know things that it's relevant to the conversation but they have no political savvy.
They have no sense of, what does anybody want to hear, or who will be bothered by anything they say. That sort of an autist would not last long in the C-suite. They would be shunted aside and become an advisor to someone perhaps, trusted advisor to their side but they wouldn't be allowed to speak in the boardroom. But that's what a prediction market is. It has no idea who wants to hear what it has to say.
It will often say things that people do not want to hear, and that embarrass them, and that contradict what they've said. Then all the worse of course it will be proven right.
Richard: Yeah. But what's stopping the autist, or I guess what's stopping them is nobody has just done this yet? But theoretically you could imagine the autist setting up the rules for the corporation, right?
Robin: You might if they were in charge at the beginning sure.
…
Robin: Now we move to the question of like, what fraction of companies out there are actually maximizing profits?
Richard: Yeah.
Robin: It’s a very basic question in economics and in our world. We economists tend to assume as a simple initial working model that organizations that are for profit actually do maximize profits. That's the thing they usually do. If you give them a choice of A or B, and B is higher profit they'll choose B.
Here if you apply that model you say, “Well, this looks like it would give them key information to make key decisions like, ‘Will we make the deadline,’ and it will be valuable. The cost is relatively low so of course they would do it.” That's what you would say if you were applying that theory. Then here we have a case where it looks like, well it hasn't happened yet.
You might think, “Okay, innovation is slow. It takes a while,” but we’ve been waiting several decades. Honestly if I look across a wide range of other areas of corporate behavior I can't fully support this profit maximizing theory. I think I can find a lot of other places where what they do does not maximize profits.
I could give you a long list of examples. We could go through some of those but then the question is, “Well, how do I come to terms with it? What theory do I have affirms in the absence of profit maximizing to explain the behavior?”
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Robin: I mean I think in fact the correct response is to say the free market version is probably the best. You just have no idea how much worse things can be. People often look at the status quo of a business world say that is relatively free market. They look at this up close and they go, “This looks terrible how could you possibly be defending this?”
The argument has to be, “Well, it would just be so much worse without this.” And in fact often if you look to large stable organizations like universities and government agencies, or churches that have been around for a long time it is in fact worse. I think that's roughly right. Another story might be we've hobbled some of the competition between firms that might solve some of these problems.
I honestly think one of the biggest wins we could do is to just allow stronger hostile takeovers. The laws at the moment make it harder to do hostile takeovers. They require a substantial tax on them in essence. If you see a badly run company and you have an idea how it could be run better the problem is how are you going to profit on that? But if you could just buy up the company, change its management and then sell it again after it was better that would be a big, powerful engine for making it better.
There have been times when that mechanism has been allowed to do more and it has made huge changes. That's what inspired people to lock it down and prevent those changes because they were scared it was coming for them.
…
Richard: I've seen stuff like who will win the tip off in basketball, and who's going to win the coin toss in a football game? Who's going to win first quarter?
Robin: I once looked onto doing this for war college war games. As you may know many war colleges have war games where they put teams on different sides and give them various equipment in a simulated war. They have them go to war. You could imagine, well letting everybody else who’s watching the war game give advice about particular strategies in the war game. That seemed plausible to me but then when I talked to people at war colleges I found that most of these war games are kind of fake.
Richard: Yeah.
Robin: They have a predetermined outcome that’s some lesson they want to tell, and so they aren't really letting it be open to winning one side or the other.
Richard: No, that's funny because you'll see headlines every now and then that'll say, “Oh, my God. The US loses to China in a war game,” and yeah I always thought that that’s…
Robin: I’m sure there probably are real war games somewhere. They just aren't at the war colleges. That's where I was thinking I could convince somebody to try this sort of thing.
…
Richard: What is the advantage of the blockchain? What is the difference between a blockchain say market versus just something like PredictIt?
Robin: Well, that's an excellent question. Initially the story was that blockchain was out of control, that it couldn't be regulated so you could set up a system on a blockchain. If the regulators didn't like it they didn't have anybody to go to stop it. The blockchain just kept going regardless of who didn't like it.
That was a big selling point. People said, “Well, look at all this financial innovation we can do because we are free from existing regulations on the blockchain.” That's what they said, and then a lot of companies formed on this basis.
But these companies didn't take personal strategies to match that rhetoric. You would think if your plan was to put a product on the blockchain and that you were going to say nanny nanny to the regulators because, “You can’t get me,” you wouldn’t have a big public presence with the headquarters, and your picture in the magazines, and show up in person at conferences right? Because…
Richard: Yeah. Sure.
Robin: ...well, that makes you more obviously a target right? That's what they did though, and then they sort of back pedaled and said later, “Oh, we're following all the regulations.” But you know people don’t really believe that. It's been this big question, to what extent will governments crack down on these blockchain things that at least from the government regulators point of view are not following their rules?
Richard: Yeah. Do you have in mind the Coinbase news that had come out the last few days, or was it today or yesterday that-
Robin: This is just a continuing issue. I don't have any particular recent event in mind but there are lots of stories about regulators thinking of doing a lot more regulating and cracking down more. This is a big question about blockchain is how far will they crack down, and what will be the consequences? Of course people say, “Well, in principle Bitcoin can keep chugging along even if they do crack down,” and no doubt that's true to some degree.
But the question of how much activity there'll be is still somewhat open. You could have it chugging along with a far lower activity because a lot of people have been discouraged.
…
Robin: Let me at this point admit what I would say is the biggest problem with futarchy and with some of these other decision markets, which is that they make hypocrisy harder, which is actually a problem. You might think, “Well, hypocrisy is a bad thing. Making it harder is good right?” Well, let’s walk through that.
At the moment, say ordinary people can claim to love trees and they just care a lot about trees. Trees real estate wonderful and they certainly wouldn’t want to have fewer trees. But then they elect politicians who have to make choices about trees versus other things. Those politicians can probably read the public and say, “Well, they say they like trees but they don’t really like trees that much, so I’m not actually going to go save some trees by interfering with something else.”
Then if the public ever finds out that somehow not everything was being done to save trees, the public can complain and say, “That damn politician! They’re corrupt! They were bought out and I sure hate them. Let’s throw them out of office,”right? Because the politician is allowing the public to be hypocritical, to pretend they care more about trees than they do.
…
Robin: The pandemic was not a big enough crisis that we fired people who did badly on it. Neither was Afghanistan. We’re in a world where we have these big things we do wrong but they somehow just aren’t bad enough to really scare us into trying different things. The question is where will we ever see some nation or big organization that’s scared enough about losing to be willing to roll the dice and try some big changes?
Richard: When you look at the American Military established under World War II I mean the military establishment was a new thing. You were building basically something from scratch. Now you have all these vested interests. You know it’s funny. The places, the countries with the most US Military… the most military personnel in the world are actually Italy, Germany, Japan, and South Korea right?
Robin: Those are risky, dangerous spots. You’d want troops there wouldn’t you?
Richard: Yeah. Well, maybe but if you notice they have something in common. Those are the Axis powers and the Korean War right?
Robin: Right.
Richard: Basically they’re the exact same place they were in 1945 to 1950 and so-
Robin: Hysteresis right? Enormous path dependence?
Richard: Yeah, exactly. Enormous dependence. Yeah, Italy. Is that obvious? The most dangerous place in the world. Maybe, maybe not.
Robin: No, and it’s not remotely obviously the most dangerous place in the world.
Richard: Yeah. Do you look around the world, and right now do you see variation in the extent to which countries are willing to not only take risks but take risks specifically along the path that you suggest?
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Bitcoin News: How Much Does it Cost to Develop a Bitcoin Wallet App like Coinbase?
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Benefits of using free cash app money?
What is Cash App? Cash App is a peer-to-peer money transfer service developed by Square Inc. which allows users to send and receive money. This service can help you send your roommate to share utilities, pay for your friend's coffee, split travel expenses, or any other task you may want to do with other Cash App users to send money. The Cash app also works in a similar way to a bank account and offers users a debit card - called a "Cash Card" - which they can use to make purchases with the money in their cash account. The app also allows consumers to invest their money in stocks and buy and sell bitcoins.
How to send and receive money with the Cash app? You want to start with an external bank account so you can top up your account in the Cash app and withdraw your money from the Cash app. Then download the cash app to your smartphone. This app guides you through the registration process, where you create a user account and connect at least one bank account. You can use this bank account to send money to other Cash App users, as well as transfer funds from your Cash App account to your bank account. This is similar to services like Venmo and PayPal, which also allow you to link bank accounts to send money. You can also save any funds you receive in the app until you can download them.
Benefits of using cash There is no charge for basic services. The Cash App does not charge any monthly fees, transfer or receiving fees, inactivity fees, or international transaction fees.
Comes with an additional free debit card. With "Cash-Card", users can make transactions in the cash application and withdraw money in their accounts. The card is issued by Sutton Bank and is unique to the user's account in the Cash app. It is not tied to any other personal bank account or debit card.
Free ATM withdrawals when you set up direct deposit. Otherwise, the fee for using the ATM with a debit card is $2.
Raise Cash helps you save money when using a debit card. Users who have a cash card can choose certain “upgrades” in their account, which they can use to save money when shopping at certain providers (e.g. 10% off when ordering from DoorDash). Only one benefit can be active at a time, but you can change the profit as often as you like.
Get cash bonuses for friends who join your referral code. When you send a referral code to your friends and they sign up for the Cash app using your link, you will receive a $5 cash bonus to the friend who signs up.
Ability to invest. The Cash App allows consumers to buy shares of a particular company with as little or as much money as they want to invest. Shares can be purchased with funds in your cash account; If you do not have enough funds in the application, the remaining balance will be debited from your linked bank account.
Bitcoin compatible (but at a cost). Users of the Cash app can buy and sell bitcoins, but the Cash app charges two types of fees: a service fee for each transaction and an additional fee based on market activity, which is determined by the volatility of US stock prices.
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