Monthly Archives: August 2018

Forex Market – Information For Beginners

 

The foreign currency market is where the currencies of different countries get traded and the unique feature of the market is that it is a decentralized market. This market was created to facilitate the cash flow from international trade. Today it is the largest financial market in the world where the daily volume of trade is more than trillion dollars.

Unlike the stock market, the forex market is free and there is no institution which acts as the intermediary between parties involved. Every transaction gets closed between partied with the help of a private contract. Even the trading of digital currencies is also quite similar to the forex market. In the cryptocurrency market, the digital currency gets traded with the help of trading software like the bitcoin code. Majorly the bitcoin currency gets traded using the software. Even this market is decentralized and does not come under any control. It is becoming one of the most sought after and popular market for people to trade and earn money, Go through this review here to learn everything about the trading of cryptocurrencies.

The forex market works throughout day and night. It opens on Sunday afternoon and closes by Friday. This market has a wide variety of participants ranging from private individuals to central banks and a huge number of currencies gets traded here.

Functions of the forex market

  • It helps in setting the currencies prices with respect to another currency. It defines the total number of a particular currency’s unit to be exchanged for 1 unit of different currency.
  • It favors the fund exchange between two different countries. Some countries would be in need of liquidity while another country would have excess liquidity.
  • The forex market allows realizing the risk coverage on currency, whenever the investments are done in a different currency.
  • It helps in financing the international trade where these transactions represent the major part of the forex

Understanding the symbols in the currency market                                       

The currencies in the forex market are identified by the three letter code. The currency pairs are denoted by the six letter code. For instance, the dollar as the quoted currency and the euro as base currency:

  • First three letters will denote the base currency (EUR)
  • The last three letters of the pair will refer to that currency which is being quoted (USD)
  • The price of the currency pair defines the total number of quoted currency’s unit per base currency unit.

 

 

 

 

 

 

       Cryptocurrency Insurance- A Boon or Bane

                                   

As the world of cryptocurrency expands its horizon, there are lots of changes happening in the underlying technology used for trading, transacting and using them as a payment source. The threat of hacking, stealing and wiping off digital wallets have loomed large in the mysterious world of crypto trading, that has created a lot of murmurs among the industry experts, cryptocurrency firms have started insuring themselves from the threat and theft laden hackers.

Insurance Cover

Insurance companies are offering packages to investors and the crypto trading companies against theft of digital coins and assets from the user wallets or the company common wallets. It may sound surreal, however; the insurance industry is abuzz with the latest developments in ensuring the crypto firms. The insurance firm covers

  • the internal and external threats of crypto firms
  • include the threats, mistakes, unauthorized accesses and employee thefts
  • messaging app-based companies have launched their bid to buy and sell bitcoins, along with insurance cover against the threat of theft, this review will help many users who want to trade in coin currency from Bitcoin Code but are hesitant thinking of the high level of risk of hackers
  • the preventive measures now offered can well protect the coin currency being stolen, transferred to unknown accounts without access to passwords
  • other coverages include payment gateway delays in trading, transaction delay, mechanism failure,

 

Challenges for Insurance Companies

 

  • while providing security to the crypto firms, the insurance companies have to invest the proceeds wisely without losing out the huge liability toward crypto firms
  • exposure to other uncertain frauds, scams that have to be well prevented from the entire investor’s coin money
  • there should be a lot of controls, regulation when it comes to ensuring the coin currency, with due diligence and prevent fraud companies to buy sell the coin currencies
  • once the insurance company covers for a shady business deal, their liability increases, to cover for a huge amount of loss suffered from such unregulated crypto exchanges

 

There is definitely a lot of scope of insurance companies reaping good profits by ensuring the crypto companies and increasing the confidence of the investors who will buy coins with safely. However, the insurance company shoulders a lot of risks when it comes to covering the crypto firms and coins. There is a lot of interest among top insurance firms to foray into this territory slowly taking cautious steps ahead.

 

 

Understanding The Difference Between Blockchain And Cryptocurrency

Understanding The Difference Between Blockchain And Cryptocurrency

Since the time the two prevalent words- cryptocurrency and blockchains- have come into use, there have been endless confusions and speculations on the difference amongst the two. So, if you too need an insight on these two terms and are looking for their individual definitions and use, then this is definitely your one-stop point.

Defining blockchain

This is basically a circulated ledger technology that is known to form its own chain of blocks. All these blocks individually carry information and data, which is properly verified and wrapped together. After this information is accumulated, the blocks are authenticated and looped into the sequence of transactions and data stored in other blocks. All these blocks hosting the transactions are enduringly logged in this distributed ledger.

So basically, blockchain is that brilliant technology which allows the cryptocurrencies to enter in the finance market all over the world and offer its benefits.

Defining cryptocurrencies

Also referred to as digital currency, these are the virtual tokens which are based on the blockchain. It is created on the foundation of cryptography and is also considered as the amazing art of cracking or scripting codes. Though all the cryptocurrencies perform the same functions more or less, these can also have varying purposes too while being available on the distributed ledger.

Cryptocurrencies have grown in the market today to such an extent that people have started taking it as a useful way of making investments. Gone are the days when investors used to float their finances only in ventures like real estate, mutual funds, fixed deposits, etc. Today, investments in bitcoins and other booming cryptocurrencies have taken over the market tremendously. They offer ultimate outcomes, that too in a small period of time.

All you are required to do is register yourself with a reliable online wallet and get started with buying and setting cryptocurrencies like a pro. You can buy these bitcoins from several dependable and popular trading robots such as Bitcoin Code and start minting money right away while sitting on your living room sofa. You can check this out to discover how this robot has been performing in the market in the past and get started with your first investment in cryptocurrencies immediately to make way for endless profits.

There was a time when not much difference was understood between the two terms as they were used as a replacement for each other. However, with the evolution and the transformation of technology, their jobs and identity started becoming distinct and specific in the industry. The present scenario is such that there is hardly any investor in the market who does not have his or her money in this particular venture.

The Popular Bitcoin Billionaires

The Popular Bitcoin Billionaires

Success comes to those who are willing to take risks aka follow the path of unusual, for which this list of 4 popular Bitcoin Billionaires is a proof! Yes, without following the baseless claims, these billionaires believed in what they had understood about the power of the Bitcoins and the cryptocurrencies that have led them today to the pinnacle of success! Let us see who they are and be inspired to follow suit!

  • The Winklevoss Twins

Yes, they are the same twins who tried to get control of the Facebook and failed in it miserably! Perhaps, they have learned from their failure to make the next best move which is to invest in the popularly growing Bitcoins! These founders of the digital currency exchange Gemini, invested in $11 million worth of the Bitcoins in 2013, to only become the world-famous Bitcoin Billionaires, whose total worth amounts to more than $231 million! And, they are only 36 years of age!

 

  • Barry Silbert

Sure, we all have heard enough about the infamous Silk Road incident, where the government pitched to safeguard the Bitcoins that were used for illegal activities. Have you ever wondered, what did the government do with those seized Bitcoins? Wonder no more, as the government only auctioned those Bitcoins and 48,000 of those Bitcoins were nabbed by a venture Capitalist named Barry Silbert, who is also the founder of Digital Currency Group. Being one of those earliest proponents of the Bitcoins, naturally, this auction attracted Silbert, which he made use of wisely to only become a Bitcoin Billionaire of current worth reaching more than $268 million!

 

  • Tim Draper

Tim Draper has a knack for finding such things that are set to rock in the future! Yes, before believing in the future successful state of the Bitcoins, he believed in the successful journey of the Skype application and invested in it hugely! Like how his investment in the Skype brought him huge success, his investment in the Bitcoins that he purchased, yet, again, from the same government auction has helped him reach the Bitcoin Billionaire position, impressively! At the time of purchase, the value of the Bitcoins were $19 million, whose current worth is more than $170 million, admirably!

 

  • Satoshi Nakamoto

Yes, the very same anonymous founder of the Bitcoin it is! Although the whereabouts of this developer is still a mystery, there are enough theories to prove the existence of around 1 million Bitcoins in his/her possession, that automatically, makes him/her a Bitcoin Billionaire, worth over $8 billion when taken in to consideration the current worth of the Bitcoins, that is, as of July 2018, that stands at $8252!

While reaching such a position would take time for anyone beginning to believe or invest in the Bitcoins only now but, making that significant start is appreciable, for which this full review be might of some help!