Sabtu, 09 Mei 2020

Bitcoin Vocabulary

Bitcoin has created a new world of vocabulary to articulate its universe. Some terms are completely new (ex. Blockchain, Cryptocurrency, Proof of Work) while others adapt existing words for new purposes (ex: Wallet, Address, Mining). 

Formal Vocabulary

ASIC: An acronym for “Application Specific Integrated Circuit”. ASICs are silicon chips specifically designed to do a single task. In the case of bitcoin, they are designed to process SHA-256 hashing problems to mine new bitcoins.

BTC:  A common unit to describe one bitcoin, as USD represents one United States Dollar.

Bit:  There are 1,000,000 bits per bitcoin so 1 bit = 0.000001 BTC.   Cheaper items are denominated in bits.

Blockchain:  type of distributed ledger, comprised of unchangeable, digitally recorded data in packages called blocks (rather like collating them on to a single sheet of paper). Each block is then ‘chained’ to the next block, using a cryptographic signature. This allows block chains to be used like a ledger, which can be shared and accessed by anyone with the appropriate permissions.

Bitcoin:  Bitcoin with a capital ‘B’ is used to describe the network or protocol that bitcoin runs on, bitcoin with a lowercase ‘b’ represent the digital token or money that is used on the Bitcoin network.

Bitcoin Address:  Also known as a public key, is similar to an email address.  Give your bitcoin address to anyone who you want to receive a payment from.  It is best practice to use a new bitcoin address for each of your transactions.

Block:  A block is a group of bitcoin transactions that are being processed & confirmed.  Roughly every 10 minutes a miner will find a new block, which will confirm any bitcoin transactions that were processed during that 10 minutes.

Confirmation:  A confirmation means your transaction was processed by bitcoin miners and added to a new block on the blockchain.  It is generally accepted that after 6 confirmations your transaction has been set in stone globally and cannot be reversed by anyone.

Difficulty: In Proof-of-Work mining, is how hard it is to verify blocks in a blockchain network. In the Bitcoin network, the difficulty of mining adjusts verifying blocks every 2016 blocks. This is to keep block verification time at ten minutes.

Double Spend:  When a malicious user tries to send their bitcoin to two different people at the same time to pay for several services with the same bitcoin.  It is up to miners to decide which of the transactions are accepted into the network.   One transaction will receive confirmations, the other will be rejected by the network.  Most users never have to worry about double spend attacks, they are rare and difficult to pull off.

Mining:  Bitcoin mining is making computers do complex mathematical calculations for the Bitcoin network to confirm users bitcoin transactions in a block.  Bitcoin miners greatly increase the security of the network and are rewarded with new bitcoins and transaction fees for their efforts.

Full node: A node that fully enforces all of the rules of the blockchain.

Gas: A measurement roughly equivalent to computational steps (for Ethereum). Every transaction is required to include a gas limit and a fee that it is willing to pay per gas; miners have the choice of including the transaction and collecting the fee or not. Every operation has a gas expenditure; for most operations it is ~3–10, although some expensive operations have expenditures up to 700 and a transaction itself has an expenditure of 21000.

Hash Rate: Is a measurement of computer processing power of bitcoin miners.  Miners earn bitcoin for their share of the network hash rate, so they are incentivized to have the highest hash rate possible.  This works out for everyone because the security of the Bitcoin network increases as the network hash rate grows.

Node: Any computer that connects to the blockchain network.

Private key:  Every public key (bitcoin address) has a private key associated with it.  A private key is a secret piece of data that proves your right to spend bitcoins from your wallet.  Your private key(s) are stored in your computer if you use a software wallet; they are stored on some remote servers if you use a web wallet.  If you don’t encrypt your bitcoin wallet it makes it easier for someone to steal your private keys.  Anyone with access to your private keys can spend your bitcoin from any computer worldwide.

Proof of Authority: A consensus mechanism in a private blockchain which essentially gives one client (or a specific number of clients) with one particular private key the right to make all of the blocks in the blockchain.

Proof of Stake: An alternative to the proof-of-work system, in which your existing stake in a cryptocurrency (the amount of that currency that you hold) is used to calculate the amount of that currency that you can mine.

Proof of Work: A system that ties mining capability to computational power. Blocks must be hashed, which is in itself an easy computational process, but an additional variable is added to the hashing process to make it more difficult. When a block is successfully hashed, the hashing must have taken some time and computational effort. Thus, a hashed block is considered proof of work.

Protocols: Sets of formal rules describing how to transmit or exchange data, especially across a network.

Satoshi:  The penny of bitcoin.  1 Satoshi = 0.00000001 BTC  This is the smallest measurement of bitcoin.

SHA 256: The cryptographic function used as the basis for bitcoin’s proof of work system.

Smart contracts: Contracts whose terms are recorded in a computer language instead of legal language. Smart contracts can be automatically executed by a computing system, such as a suitable distributed ledger system.

Softfork: A change to the bitcoin protocol wherein only previously valid blocks/transactions are made invalid. Since old nodes will recognize the new blocks as valid, a softfork is backward-compatible. This kind of fork requires only a majority of the miners upgrading to enforce the new rules.

Token: A digital identity for something that can be owned.

Transaction block: A collection of transactions on the bitcoin network, gathered into a block that can then be hashed and added to the blockchain.

Transaction fees: Small fees imposed on some transactions sent across the bitcoin network. The transaction fee is awarded to the miner that successfully hashes the block containing the relevant transaction.

Wallet:  Where you store your bitcoins. A bitcoin wallet is a program that manages all of your bitcoin addresses and allows you to save or spend your bitcoin.

Common Slang

ALTCOIN = Any cryptocurrency other than bitcoin.
ASHDRAKED = A situation where you lost all your money.
BAGHOLDER = A person who buys and hold coins in large quantity hoping to make good profits in the future.
BEAR/BEARISH = Negative price movement
BTFD = Buy The Fucking Dip (an indication to buy a coin when it has dumped so hard)
BULL/BULLISH = Positive price movement
DILDO = Long green or red candles
DUMP = To Sell off a coin
DUMPING = Downward price movement
DYOR = Do Your Own Research
FA = Fundamental Analysis
FOMO = Fear Of Missing Out (A coin is pumping and you get the feeling it’s gonna pump more, so you buy high)
FUD = Fear Uncertainty & Doubt
HODL = Hold On for Dear Life
JOMO = Joy Of Missing Out
LONG = Margin bull position
MCAP = Market Capitalization
MOON = Continuous upward movement of price
OTC = Over The Counter
PUMP = Upward price movement
SAJ CANDLE = Huge green candle
SHITCOIN = A coin with no potential value or use
SHORT = Margin bear position
SWING = Zig zag price movement (Upwards and downwards)
TA = Technical Analysis
REKT = When you have a bad loss
REVERSE INDICATOR = Someone who is always wrong predicting price movements.
RSI = Relative Strength Index
WHALE = Very Wealthy trader/Market mover


Is Bitcoin a good investment?


Note: This article is not investment advice. Instead, it aims to give you a better understanding of what Bitcoin investment involves.

The basics of Bitcoin investment:
You can invest in both Bitcoin Cash (BCH) or Bitcoin Core (BTC). They’re two separate digital currencies which can be bought and sold online.

There’s no single definition for Bitcoin investment: it depends on what you decide to do. For instance, you might be buying coins to store or trade, or you might try to earn coins by getting involved with Bitcoin mining.

As with any type of investment, do your research before spending any money on Bitcoin-related investments and make sure you never spend more than you can afford to lose.

Is Bitcoin investment safe?
A quick look at our Bitcoin price charts will tell you that both Bitcoin Cash (BCH) and Bitcoin Core (BTC) can have periods of high volatility.

That’s because they’re both new investment opportunities and, as market sentiment around the potential of cryptocurrencies fluctuates, so too does the price of every coin within the space.

Predicting these periods of volatility is hard even for experienced traders. But, by doing your research and learning about the different types of Bitcoin investment opportunities (and scams), you can make more educated investment decisions.
Investing through buying and storing Bitcoin
Most new investors simply want to purchase Bitcoin and, once they own it, they store it securely for the foreseeable future (aka ‘hodling’).

The goal here is that the Bitcoin bought will appreciate in value and, if this happens, the investor can sell their Bitcoin on for a profit.
There is no way to predict whether the Bitcoin you buy will increase in value. One of the biggest factors impacting price is usability, so keep up to date with industry news to learn more about the potential of different cryptocurrencies.

To purchase Bitcoin, you exchange fiat currency (e.g. USD) for either Bitcoin Core (BTC) or Bitcoin Cash (BCH).

Investing through active Bitcoin trading
Trading Bitcoin involves buying either Bitcoin Cash (BCH) or Bitcoin Core (BTC) and, instead of storing it, trading it frequently.
The goal here is to buy when the price is low and sell when it rises, meaning a profit is made when the Bitcoin is sold.

Bitcoin traders often do this over relevantly short periods of time, closely tracking the market price to determine when to buy and sell.

Since there is no way to predict the market, it’s wise to trade with caution and be aware that there are never any guarantees of making a profit.

Investing through Bitcoin mining
Bitcoin mining involves trying to ‘earn’ Bitcoin Core (BTC) and Bitcoin Cash (BCH) by lending computational power to the networks.

In short, when a computer successfully processes Bitcoin transactions, it’s rewarded with newly-created coins—meaning the owner of the hardware earns Bitcoin.
To start mining, you can either buy your own mining hardware or you can rent hardware through a cloud mining contract. Either way, joining a mining pool means you’re more likely to successfully mine Bitcoin (i.e. shared efforts for shared profits).
The profitability of Bitcoin mining depends on various factors. Above all, the value of the mined Bitcoin needs to be greater than the cost of running the mining hardware for miners to see a profit.

Avoiding Bitcoin investment scams
As with any financial landscape, the crypto space is rife with scammers looking to take advantage of new investors.

As a rule of thumb, any investment opportunity that seems too good to be true probably is. For instance, if a site or company claims it can double your Bitcoin or offers high interest rates if you ‘lend’ them your coins, they’re a scam.

Likewise, if you’re unexpectedly approached by somebody out of the blue promising to send you more Bitcoin if you first send them some, ignore it.

Many people fall victim to scams—especially when the fraudsters pose as well known figures in the crypto space through fake social media and email accounts.
Before committing to any investment, thoroughly research the company or website involved to establish whether they’re trustworthy.

All About Bitcoin Cash

What is Bitcoin Cash (BCH)?
In simple terms, it’s an online currency formed out of a dispute between Bitcoin (BTC) miners and developers. Now, that doesn’t mean it’s a poor imitation of the original cryptocurrency. In fact, when you really ask the question "what is Bitcoin Cash about", you’ll see why it’s a strong crypto in its own right.

Perhaps one of its greatest strengths is that it’s universal. Unlike many modern utility tokens that focus on one particular market, BCH as a currency token, is for everyone. Therefore, if you’re interested in how to get Bitcoin Cash and why it might be a positive investment, the following guide is for you.

Some key takeaways for Bitcoin Cash:
BCH was formed out of a hard fork on the original Bitcoin blockchain
Active since August 1, 2017
Larger block sizes mean BCH can process more transactions per minute than BTC
Just as BTC, the maximum number of BCH tokens is capped at 21,000,000
BCH is an offshoot of Bitcoin. In general terms, Bitcoin Cash performs a similar function and has the same overall goals as its predecessor. To put it another way, BCH is designed to be a digital decentralised currency unconstrained by governments or geographical borders.

Why was Bitcoin Cash Invented?
While BCH and BTC share many similarities, they’re also different. To examine this difference, we must look to the creation of this altcoin.

Despite being the most valuable cryptocurrency, some Bitcoin developers were unhappy with the state of the project. With other blockchains such as Litecoin (LTC) able to process transactions cheaper and more efficiently, many thought that a change was necessary.

In 2017, a hard fork was discussed. All blockchains have the ability to be forked, which basically means part of the original code is changed in some fundamental way. A perfect fork is where the entire community will shift to the new, improved blockchain. A split, is where there is a disagreement among members. This is what happened with Bitcoin in August 2017.

After developers found a way to increase the size of a block (i.e., the amount of transactions a block can hold), a fork was agreed. Those in the community who thought a new system was necessary moved over to Bitcoin Cash, while those loyal to the original system stayed with Bitcoin. The end result was a new digital token that was based on Bitcoin but had some important differences.

The Team Behind Bitcoin Cash
In practice, no one person is behind Bitcoin Cash. The decision to implement a hard fork on the BTC blockchain was a community decision taken by those working on the project.

How does Bitcoin Cash Work?
Before we look at how to get Bitcoin Cash, it’s important to understand how it works as a cryptocurrency and, in turn, an investment opportunity.

Comparable to the function that Bitcoin performs, BCH tokens are a form of digital currency. Thanks to decentralised technology, cryptography and Proof of Work (PoW) protocols, a network of miners can process transactions without requiring a single point of authority. This system is almost identical to Bitcoin. However, the main difference is that the blocks can handle more data (transactions) which, in turn, mean it’s easier and faster to process payments.

The end result is that, in some people’s minds, BCH is more effective as an online currency. In other words, it’s easier to send, receive and spend BCH tokens than BTC tokens. That makes it a better option for those wanting to pay for goods and services using crypto.

From an investment perspective, that’s important. As the world becomes familiar with digital currencies, more people will want to use it. That makes it an interesting alternative for those who’d previously considered buying Bitcoin.

How does Bitcoin Cash Compare to Bitcoin and How Safe is BCH?
As previously mentioned, the fundamental processes for BCH are the same as Bitcoin, with the main difference being the size of a block and the speed at which transactions take place. Bitcoin Cash has a devoted community and ranks in the top 5 crypto at the time of writing. The token has a tendency to mirror the price movements of its parent Bitcoin. If you feel that feel that Bitcoin is safe, you can be confident to extend this sentiment to BCH.

Can Bitcoin Cash (BCH) be used Anonymously?
Bitcoin cash can be used anonymously when transacting directly on its network. If you wish to exchange your BCH for other crypto or fiat currency, then you will have to go through an exchange. Many of these require you to provide evidence pertaining to your identity. AML (Anti-Money Laundering) and KYC (Know Your Customer) regulations exist to protect the interests of all parties and should be welcomed if we are to see the mass adoption of crypto for everyday use.

How can you Get Bitcoin Cash?
Now that you know how BCH came about, let’s look at how we can acquire this valuable, digital asset.

How can I Buy Bitcoin Cash?
There are two ways to get Bitcoin Cash: You can buy it or you can mine your own. If you’re technically minded, mining cryptos is a great way to obtain Bitcoin Cash, though it isn't really free, as mining hardware and electricity required to perform the task all costs money. The process of mining BCH isn’t overly complex, although it does take time and is beyond the skillset of most casual investors.

Therefore, the simplest way to get Bitcoin Cash is to employ the use an exchange. As one of the leading crypto coins on the market, you can buy BCH via any of the leading online exchanges. Regardless of whether you want to buy it with another digital coin via a crypto-to-crypto exchange or make fiat transactions, all the options are available.

How to Store Bitcoin Cash
The best way to store BCH tokens is via an online or offline wallet. Because this coin is linked to Bitcoin, you can use all the same crypto wallets for BCH as you would BTC. Some of the leading options are:
Ledger Nano S
Trezor Wallet

Alternatively, you can trade Bitcoin Cash CFDs (Contracts for Difference) via the eToro platform. If you do that, you won’t need to own the underlying asset, therefore, don't need to go through the complex process of setting up a wallet. CFDs allow you to earn money based on the price fluctuations of BCH.

Bitcoin Cash Price, Market Cap & Supply
Other than being more efficient than Bitcoin, the main advantage BCH has over its peer right now is its price. Unlike its older brother, Bitcoin Cash doesn’t cost thousands. Although it’s far from the cheapest crypto, you could pick up a single BCH token for around $311 in February, 2020. When you combine this with a supply cap of 21 million coins, there’s a lot of potential to make a handsome profit when you buy Bitcoin Cash.

Bitcoin Cash Advantages & Disadvantages
Advantages of Bitcoin Cash:
Based on well-established technology
More efficient than Bitcoin
Cheaper than BTC
Can be used by consumers

Disadvantages of Bitcoin Cash:
Still in the shadows of Bitcoin
Competing with other Bitcoin forks, such as Bitcoin Gold (BTG)
Should you Invest in Bitcoin Cash or Not?
If you’re a fan of Bitcoin then you’ll love Bitcoin Cash. Essentially the same but better in some respects, BCH has all the makings of a world-class cryptocurrency. When you combine that with fairly affordable prices and its potential in the ecommerce space, it’s certainly a crypto worth considering.

FAQ – Frequently Asked Questions about Bitcoin Cash

What is Bitcoin Cash?
Bitcoin Cash is an offshoot of Bitcoin that’s designed to be more efficient.

How can I buy Bitcoin Cash?
All the top cryptocurrency exchanges currently offer BCH trading options.

How much does Bitcoin Cash cost?
The price of BCH is always changing. In this guide, we can only cover what Bitcoin Cash is about and how Bitcoin Cash works.

Can I get Bitcoin Cash with a fiat currency?
Yes. Many major platforms give you the option to buy BCH fiats such as EUR, GBP and USD.

Will I make money if I buy Bitcoin Cash?
As a general rule, all crypto invests carry some degree of risk. However, this is a well-established project that has a lot of positive attributes.

Top Tips You Need to Know Before Investing in Bitcoin

2017 was very much the year for Bitcoin. It experienced exponential growth of around 1,400%, making early adopters of the cryptocurrency millionaires in the process. Although the value of Bitcoin dipped and plateaued slightly later, Bitcoin remains a hugely lucrative market to invest in. There must be a reason why Bitcoin has been the buzzword on the lips of many economists and financial traders, right?

Nevertheless, if you’re a novice when it comes to investing in Bitcoin and cryptocurrency in general, it’s vital that you do your research before parting with your hard-earned money. Our seven priceless tips will help to minimise the mistakes you make with your cryptocurrency trading.

1. Learn how to properly store your Bitcoin first
It’s important to learn to walk before you can run. Begin by learning the basics about the mechanics of buying and selling Bitcoin. You’ll need to read our reviews of all the leading Bitcoin exchanges first to discover the easiest and safest platforms to start buying Bitcoin. Coinbase tends to be a good starting point for any beginner investor, due to its intuitive interface and the ability to start purchasing other leading cryptocurrencies too such as Ethereum, Bitcoin Cash and Litecoin. As with all financial investments, it’s vital that you learn how to protect your assets. In this case, you’ll need to ensure your digital assets are comprehensively guarded against the threat of cyber-attacks and scammers. There are purpose-built Bitcoin wallets designed with security at the forefront. Ledger Nano S is the world’s most secure Bitcoin wallet, while TREZOR is also popular as it generates private keys to your Bitcoin wallet offline, away from prying eyes.

2. Keep your eyes peeled on the market cap
A common mistake newbie crypto-traders make is to make investment decisions based purely on coin price. In reality, the value of a cryptocurrency is only valid once you’ve taken into consideration the current circulating supply. If you’re considering buying Bitcoin, try not to focus too heavily on the current value of the coin and instead consider the percentage of the total market cap you are purchasing. The closer a cryptocurrency gets to its market cap, the greater the demand will be to sell at a later date.

3. Is it worth investing in Bitcoin mining?
The industry for Bitcoin mining has accelerated at a rapid pace. In the earliest days of Bitcoin, the average home computer could be used to crack the cryptographic puzzles and earn new Bitcoins. Unfortunately, in 2018, the only way Bitcoin mining is done profitably is within specialised data centres. These warehouses are jam-packed with machines built solely for the purposes of mining Bitcoin. A home mining operation would cost in the millions to set up today, which means it’s probably best to consider investing in Bitcoin that’s already in circulation instead.

4. Consider diversifying your crypto investments
It’s all too easy for Bitcoin investors to become infatuated with the cryptocurrency. The reality is that Bitcoin is just one of thousands of other cryptocurrencies available to invest in that could be used to offset some of your risk in Bitcoin. Smart cryptocurrency investing is the same as trading the stock markets or forex – you need a risk management strategy. Don’t put your eggs in one basket! Instead, hedge your bets by investing in some of the up-and-coming altcoins experiencing growth equal to or better than Bitcoin.

5. Set a clear profit target when opening a trade
As Bitcoin is still a relatively new market to invest in, it’s very difficult to know when the right time is to buy and sell your Bitcoin. The volatility in the value of Bitcoin is unlike anything you’re likely to have experienced before with financial investments, so it’s important that you set clear profit and loss targets when opening a trade on Bitcoin. Most beginner Bitcoin traders fail because they fall in love with their investments and don’t know when to let go of a bad position. By setting an exit point for profits and a stop loss should the trade go against you, it’s easier to minimise losses and live to fight another day. Typically, the most extreme daily movements in the value of Bitcoin can be up to 3%.

6. Be prepared to handle FOMO
The dreaded fear of missing out (FOMO) is also another newbie mistake among Bitcoin traders. Should newcomers to trading Bitcoin log in to their chosen cryptocurrency exchange and witness double-digit growth in Bitcoin in the last 24 hours, they will invest regardless in fear of missing out on further price moves. What these investors don’t consider is that they have often missed the value in the price move that day – buying the asset high, rather than the old adage of buying low and selling high. The most profitable Bitcoin investors accept that they cannot catch every positive market move on Bitcoin. Instead, they will bide their time and strike when the market conditions are most favourable e.g. the price has bottomed out and is ready to move up again.

7. Accept that Bitcoin is a volatile, high-risk opportunity
Finally, if you’re going to handle Bitcoin investing mentally, you need to get your head around the fact that it’s going to be a bumpy ride. The volatility in Bitcoin is enough to scare off even the most experienced of traditional investors. Nevertheless, if you’re prepared to adopt a strict risk management strategy and consider diversification in other cryptocurrencies when necessary, there is no reason why you cannot turn this high-risk investment opportunity into a profitable one.

Be sure to review the top 40+ exchanges available to buy Bitcoin from here. The platforms ranked at the top of the table will have the best user ratings and are therefore considered the most trustworthy exchanges to trade Bitcoin using fiat currencies. Kickstart your crypto-trading journey today and choose the Bitcoin broker that’s best for you at Best Bitcoin Exchange!

The Five Biggest Cryptos

What is Š”ryptocurrency?
Š”ryptocurrency is a digital currency designed to function as a medium of exchange for financial transactions. Cryptocurrencies work in tandem with the so called ”blockchain technology” which is a secure public ledger that holds records of transactions in a decentralized way. The first cryptocurrency that came into existence was Bitcoin. Today, it is the world’s most valuable cryptocurrency in terms of market capitalization and you can buy it at almost every exchange out there. But the 5 Biggest Cryptos includes, in addition to Bitcoin, a few other interesting projects.

There are thousands of crypto coins and crypto tokens out there and each of them serves a particular purpose. This fact has made the cryptocurrency sector a new breeding ground for investors. However, it is not always easy to know which coins that are the best crypto coins to invest in.

Why Are Investors Flocking to Cryptocurrency?
In less than a decade, cryptocurrencies have grown to become one of the world’s fastest-progressing sectors. The total market cap for all cryptocurrencies is currently at $216 billion. That figure was under $15 billion in 2017. This represents an increase of almost 2,000% in just a year. There is no doubt about it – cryptocurrency attracts investors in great numbers. The unregulated nature of most cryptos affords them the opportunity to increase in value at unprecedented rates. In 2017, the value of Bitcoin increased to $19,783 making a ton of regular investors millionaires. Other factors inciting investors to cryptocurrency include:

Cryptocurrencies are decentralized;
Cryptocurrency transactions are highly secure and almost instant;
Transferring cryptocurrency does not require the participation of a third party.
It is established that cryptocurrencies are a quick and accessible source of investment. Let’s take a look at the 5 biggest cryptos out there today.

5 Biggest Cryptos – No. 1 – Ethereum
Currently trading at around $490, some say that Ethereum is a better version of Bitcoin. A primary merit of this cryptocurrency is the fact that it allows users to digitize any form of financial/business instrument on the almighty blockchain. Given its advanced functionality, not only investors favor the Ethereum, but the whole cryptocurrency community do so as well. Another killer feature of Ethereum is that start-up companies frequently use it for initial coin offerings and also developers use it for creating multi-purpose apps. This set of features makes Ethereum highly valuable and increases the probability that its price will go up.

In the same vein, there are a couple of improvements in place that set Ethereum ahead of other cryptocurrencies according to investors. Ethereum is well on the way to Proof of Stake, a streamlined approach to validating the transactions on the network. The Proof of Work algorithm that is utilized by most cryptocurrencies consumes a whole lot of energy and power during mining. The Proof of Stake system, on the other hand, is cost- and energy efficient. Once this system is in place, the price, security, and applicability of Ethereum is bound to go up.

Where to buy?
These exchanges are currently the top 5 exchanges at Cryptowisser where you can buy Ethereum:

5 Biggest Cryptos – No. 2 – Litecoin
Litecoin is another cryptocurrency that most investors are interested in holding. The current value of Litecoin sits around $100 and investors seem to think that it will only increase. Last year, Litecoin successfully debuted its Lightning Network. As a result it takes about two-and-a-half minutes to approve a Litecoin transaction, while in the case of Bitcoin you will be waiting for nearly ten minutes (i.e. four times longer).

Aside from this, investors lean heavily towards Litecoin due to a statement made by its founder Charlie Lee earlier this year. Charlie Lee tweeted that a huge surprise was on the way as regards Litecoin. This has definitely increased the hype and excitement surrounding Litecoin.

Other factors attracting investors to Litecoin include:

It is used for 30% of transactions on the dark web;
With Litecoin, transaction fees are almost zero;
Litecoin enjoys a high trading volume, which means that it is easy to find buyers and sellers for it.
Where to buy?
These exchanges are currently the top 5 exchanges at Cryptowisser where you can buy Litecoin:

5 Biggest Cryptos – No. 3 – Ripple
Ripple is another favorite among cryptocurrency investors in 2018. Unlike other cryptos, Ripple is still trading for less than a dollar, and it has the potential to increase in value exponentially. Ripple’s secure channel makes it a suitable pathway for the exchange of money, information and anything in digital form. Many banking institutions have also endorsed and adopted Ripple. Some of the banks that allegedly currently use Ripple are;
Axis Bank;
Cambridge Global Payments;
BBVA; and
Star One Credit Union.

Where to buy?
These exchanges are currently the top 5 exchanges at Cryptowisser where you can buy Ripple:

5 Biggest Cryptos – No. 4 – Stellar Lumens
Stellar Lumens have come under the scrutiny of many cryptocurrency investors this year. Stellar’s scalability, speed and almost zero fees on transactions have endeared it to a large number of investors and traders. Despite being a freshman in the cryptocurrency space, Stellar has already partnered with the tech giant IBM to create a blockchain network that will unite banks worldwide. Since 2017, Stellar has managed to grow from $0.002 to $0.22. A lot of investors definitely still keep an eye on this cryptocurrency.

Where to buy?
These exchanges are currently the top 5 exchanges at Cryptowisser where you can buy Stellar Lumens:

5 Biggest Cryptos – No. 5 – Bitcoin
Finally, this list wouldn’t be complete without mentioning the all-powerful Bitcoin – the first cryptocurrency that was introduced to the world. Bitcoin experienced a price increase of over 2,000% last year. Although is currently around $7,900, many investors believe that it is only bound to go up again. Some even predict that the price of Bitcoin can go as high as $250,000 by 2022. Bitcoin can be used at a lot of places where “ordinary money” was previously used. One of many such arenas is ' gambling industry. You can use Bitcoin to play Bitcoin Dice, a Bitcoin Crash Game, or essentially any other game you might prefer.

Where to buy?
Most exchanges offer trading in Bitcoin. You can actually almost pick any exchange in the world and you fill find Bitcoin-trading pairs there. These are currently the top 5 exchanges at Cryptowisser where you can buy Bitcoin:

Tips Before Trade Bitcoin

With Bitcoin’s growing popularity, trading in it can bring more profit. However, the process of how to trade Bitcoin is not necessarily easy. You need to get a hold of some of the essential tools available in the market. Aside from your knowledge, taking advantage of investment strategies are also crucial.

If you want a fast and simple way to wealth, here’s everything you need to learn about Bitcoin and the essential tips for trading in it successfully.

Bitcoin: What Is It?
Created in 2009, Bitcoin is the world’s first digital currency in the financial community. Along with blockchain technology, it runs through a peer-to-peer network of computers around the world.

As a first-time user, you need to install a Bitcoin wallet where you can make transactions in Bitcoin through the combination of encrypted numbers and figures. You can also use the wallet of an exchange you sign up with. Moreover, Bitcoin’s growth in the cryptocurrency market is due to its unique and distinct characteristics. As most money is digital these days, Bitcoin can also be used in different ways.

Reasons for its Popularity
Below are a few of the reasons why more people are becoming interested in Bitcoin:

Decentralized System – It means that transactions made in Bitcoin don’t have to go through a third party. You’ll have full control over your funds, and you don’t need to seek your bank or government’s approval before you can use your Bitcoin funds.
Anonymous and Private – Unlike the traditional currencies, Bitcoin is in the form of encrypted codes. This means that your identity will remain anonymous when making a transaction. Also, dealing with Bitcoin doesn’t require you to provide personal information. The Bitcoin address you generate is enough to complete a deal.
Volatile – Bitcoin prices can change rapidly and unpredictably. This can be the reason why it’s a popular investment vehicle, particularly in trading. Although the price has its ups and downs, Bitcoin’s volatility can still drive your profit and let you earn more, if you trade carefully.
Fast – The way Bitcoin works is quick and easy. This is especially helpful when making international payments. With Bitcoin, money transfers would typically take a few minutes before the money is received by someone on the other side of the globe.
Irreversible – When you send Bitcoin to someone, the process then becomes irreversible. This characteristic is crucial when it comes to trading. It means that anyone you’re trading with can’t defraud you by asserting that they never received the money.

How Can You Trade Bitcoin Successfully?
Given the characteristics mentioned above, Bitcoin has attracted many people to take an interest in the trading industry. Ultimately, a considerable number of people want to trade Bitcoin, even if they don’t have trading experience.

However, trading isn’t just a fancy thing. Aside from knowledge, you have to equip yourself with the essential techniques to carry out a successful trade.

Below are the essential tips you need to know before you trade Bitcoin:

1. Know The Reason For Every Trade Before You Trade Bitcoin
You can’t start trading successfully if you don’t know the reason why you’re doing it. For instance, you should have a goal for every trade in order to come up with a clear trading strategy. Even if you want to execute a trade on a daily basis, sometimes it’s more beneficial to do nothing than to make trading mistakes and incur substantial losses in the long run. To protect your profits, find a reason for every trade you make.

2. Only Invest What You’re Comfortable With Losing
Again, there are so many risks involved in Bitcoin trading. If you don’t plan your trades well, you find yourself losing a lot of money for nothing.

To avoid financial losses, you should never invest more than what you can trust to lose. Don’t go so far as lending money to trade in Bitcoin. Even if your first trade may seem profitable, don’t put all your funds at risk. This is one of the great tips to remember before trading.

3. Learn The Basics Of Chart Reading
If you’re a new trader, learning the basics of technical analysis can be helpful. Then, you must know how to read charts and analyze the market trends. If you’re knowledgeable in chart reading, you’re able to execute your trades successfully. Consequently, you can generate more profits, rather than incurring losses.

4. Stay Updated With Bitcoin News
Like in any battle, you should arm yourself with adequate knowledge before getting started with Bitcoin trading. This can mean keeping yourself informed and updated with the latest Bitcoin news.

By educating yourself with Bitcoin, you’re able to plan out the trading strategies to implement when you begin carrying out your trades.

5. Build A Group With Your Trading Partners
News surrounding Bitcoin isn’t the only way to learn information about the cryptocurrency world. For instance, you can create a reliable group of trading buddies with whom you can share your trading ideas. Regardless of how you build the group, connecting with other members can help you trade Bitcoin successfully. After all, the crypto community in general is a helpful community.

6. Don’t Let Emotions Overpower You
Trading Bitcoin comes with a significant challenge. You have to study the market to make sure you’ll gain profits. Also, when dealing with a highly volatile Bitcoin market, always keep in mind that Bitcoin price value fluctuates from time to time, within 24 hours. And when this happens, you have to handle your emotions very well and never panic if you’re unable to make profits. That way, you can carry out your trading efforts successfully.

7. Don’t Have Time? Try Auto Trading!
It doesn’t matter whether you are completely new to crypto or have been trading crypto since 2010. It is equally important for all of you to choose the best cryptocurrency exchange site for your individual needs. There is no “one size fits all”-solution, no single answer that is correct in all conceivable circumstances. None of the top 10 Bitcoin exchanges may be good for you, even if you just want to trade Bitcoins. Different people should trade at different exchanges. The absolutely easiest way to find the best cryptocurrency exchange site for you is to use the Exchange Finder. It’s a free tool that matches you with the best cryptocurrency exchange site for you based on your answers to a few questions.

However, if you have chosen your cryptocurrency exchange but you don’t have all the time you need to engage in trading, maybe you should go with an auto trading software, like Bitcoin Rush. By using trading software, you can get the most out of sophisticated toolkits with charts, training programs, and much more.

Ideally, these are the vital tips you need to remember when trading Bitcoin. Although you’ve probably heard this, it’s important to remember that investing in Bitcoin can be a risky undertaking. However, with the considerations mentioned above, you’ll get yourself ready before placing your trading position in the market.

Horrible Bitcoin Trading Mistakes

We first learned about blockchain in 2008. The source code was released as open-source software. The principles of the technology and operation of the first crypto were also made public. The first BTC transaction was made by American programmer Lazlo Khanesh. He paid 10,000 BTC for two pizzas! By today’s standards, the transaction’s value is over USD 82 million!

The use of BTC has evolved over the years. It has created an era of bitcoin investment or bitcoin trading. Forbes named bitcoin the best investment of 2013. Although Bloomberg named bitcoin one of its worst investments in 2014, the digital asset topped Bloomberg’s currency tables in 2015.

Bitcoin Trading Mistakes
Bitcoin trading is often mental warfare. You have to go against your inclinations or follow your gut. The crypto trading market is one of the volatile market in the world. For both new and experienced traders, making stupid decisions is not far off. So what are the horrible bitcoin trading mistakes you must avoid to make?

1. Not studying the market
This is the easiest trap to fall in. It is largely due to the fear of missing out or FOMO. It manifests itself in an early sale of your asset due to the fear of losing your profits. Other times, it is buying at the maximum because of the popular gut feeling. Relying primarily on your experience is not often accurate. Moreover, it is difficult when you involve shifting moods. Boredom or the need to trade can easily cloud your judgment and cause you to trade when you should not.

2. Over-studying
This is a n00b mistake and even experienced traders fall for that too. Especially during the crypto winter last year. Over-studying might result in the wrong trades.

3. Holding or Over-investing
Especially in an unpredictable market. Holding on to your asset may seem like a smart move. Buying low, holding and selling for a high price may work. After the first few times, it starts to feel natural. That is until you lose most of your investment.

4. Catching the bottom
This is when you monitor a plummet in price, wondering when it will stop. Traders do this in an attempt to enter into a trade at the bottom of a downtrend. It is not easy to catch the exact bottom of a trade. You might as well try to catch a falling knife.

5. Lack of Security
This is the most serious mistake possible in crypto trading. Hundreds of millions of dollars have been lost because traders left their digital assets on an exchange for too long. In the event that someone hacks the exchange or the exchance is subject glitches, you may lose your stake. Even if you have no plan to stay in the trade for a long time, you should carefully approach the security of your digital assets.

Concluding Thoughts
Recently, crypto traders have resorted to automation in order to minimize errors. Bitcoin trading software is now commonplace in the crypto trading industry. It is preset with rules such as timing, price or volume. This tool also analyzes historical data before trading. Trading software is automatic to analyze and find trading opportunities. The software automatically places orders helping the user to profit from the spread.

Asides minimizing horrible trading mistakes, crypto traders use bitcoin trading software for a number of reasons. This includes ease of use and lack of human error. Furthermore, there are several free digital assets trading software out there. A good example is Bitcoin Superstar.

Tips on Being A Successful Bitcoin Trader

Bitcoin, a type of cryptocurrency, has piqued the interest of so many people. Because of the popularity of cryptocurrency, a market was born to specifically trade cryptocurrency. Since Bitcoin is the most known cryptocurrency, many people started trading Bitcoin online. If you want to become a trader as well, here are some Bitcoin trading tips you need to consider in order to be successful.

1. Have Enough Savings Before Trading
Before you even start trading, don’t use all of your savings to trade Bitcoin. That’s the number one rule to become a successful Bitcoin trader. The price behavior of Bitcoin can be very volatile. Most of the time, your decisions on Bitcoin trades will only come from speculations, which is high risk.

Because of this, you must only trade an amount that you’ll be comfortable losing. By making it a rule to trade only what you can lose, you won’t be very tense and worried when you’re trading Bitcoin since you can shoulder the losses. Taking away the thought of losing all of your savings will make you a better trader by preventing you from “panic selling.”

2. Set A Limit For Losses and Profit
As mentioned, when trading Bitcoin, prices can quickly go very high or very low. To prevent yourself from making impulse decisions when high volatility occurs, it’s very important for you to determine your limits. A tip is that you have to determine and set a price that you’re willing to cut loss or take profit before the trade.

Having a cut loss and a profit target price will help keep you level-headed in times of pressure during a trade. For instance, there will be a time when the prices start going down. Then, you start thinking that it’ll still go up and end up not selling. If the prices still keep going down, you’ll realize that you should’ve sold your Bitcoin. Having a cut loss target will prevent your emotions from getting in the way.

On the other hand, if you don’t have any target price for taking your profits, you’ll start becoming greedy as the prices keep going up. However, there will be a time that prices will suddenly go down. By this time, it’ll be too late to sell. So, it’s also important to set a target to take your profit. Setting a target, both buying and selling, will help you avoid acting greedy on a trade.

3. Learn Technical Analysis
Amateurs in trading only consider market sentiment and speculation when trading. If you want to become a successful trader, you must also learn to look at the charts and use technical analysis to strategize your trades.

Technical analysis is the skill to use patterns and studying volume charts to make calculated decisions regarding your trade. At first, technical analysis may seem very intimidating for a newbie. But, if you have patience and get the hang of it, you’ll find that it ‘ll be very useful.

Here are some basic terms and techniques you can use when you do technical analysis.

Candlestick – Candlesticks literally look like candlesticks on the charts. These rectangles and lines resemble the range of prices during the day. One candlestick for the day quickly shows you the opening, closing, highest, and lowest price. Together in a chart, you can see the movement of prices in any range you pick.
Order book – An order book is a list of volume and prices that traders are willing to sell or buy Bitcoin. For instance, the “asks” will show you the volume and prices traders are willing to sell. On the other hand, the “bids” will show you the prices and volumes that traders are willing to buy. Basing on the prices and volume, you can make a calculated decision on your trade.
These are just two of the charts and tables most commonly used in technical analysis. If you research and learn about technical analysis, you’ll find more terms, charts, tables, and strategies. All of these will aid you in making your decisions when you start trading Bitcoin. So, do your homework.

4. Be Updated With Current News and Events
Even if you already do technical analysis, it’s still very important to stay informed of news and current events. Many times, the price of Bitcoin is also affected by news regarding Bitcoin.

Make sure that you follow news websites to get the latest news on Bitcoin. Any knowledge that you get from news about Bitcoin will affect your decisions regarding your trades.

5. Don’t Ruminate on A Mistake
Making a mistake in trading is inevitable. Often, Bitcoin traders make the mistake of taking too much time thinking about that mistake. However, it doesn’t mean you failed if you started making mistakes.

To become a successful Bitcoin trader, you must not ruminate on a mistake. Instead, take a step back and evaluate what happened. Try to figure out what you did wrong. Then, use and learn from that situation and experience. Take your learnings and use them on your next trade.

There won’t always be wins, but if there are losses, you must be strong enough to rise above it and go on to the next trade. Don’t let your mistakes discourage you from becoming a successful Bitcoin trader. Use your mistakes for the better by learning from it and make you a stronger trader.

Conclusion on the Bitcoin Trading Tips
These are just some Bitcoin trading tips that can help get you started and become a successful Bitcoin trader. However, you must still do extensive research and studying on trading Bitcoin. There’s still so much to learn about Bitcoin and its behavior in the market to trade it well and earn from it.

It’s a bit more complicated if you’re just beginning to trade Bitcoin. But, with a little hard work and determination, you will be an expert in no time.