CoinRule Review: Automated Crypto Trading Bots Platform

CoinRule Review: Automated Crypto Trading Bots Platform

Coinrule is an easy to use automated crypto trading solution aiming to be the “Lego tool-box”

for both technical and non-technical traders.Cryptocurrency traders can choose from a growing number of efficient, automated trading platforms that aim to simplify the entire process and allow anyone to make the most of their trading opportunities.Coinrule is an emerging, easy to use automated trading solution aiming to be the “Lego tool-box” for both technical and non-technical traders. The platform opens up a world of new trading possibilities for crypto traders used to dealing with more limited trading interfaces, and Coinrule allows anyone to choose from a number of set strategies which can be back-tested before being deployed.

More experienced traders can construct their own unique strategies, and as a result, traders of all levels can actively engage in the always open crypto market and trade 24/7. The platform supports popular exchanges including Binance, BitMEX, Coinbase Pro, and Kraken and can be accessed for free by using a Starter account. Paid subscriptions range from $29.99 to $249.99 per month with the differing account tiers designed to cater to traders of differing experience and activity levels.

Overview

Coinrule was founded in March 2018 by current CEO Gabriele Musella, and COO Oleg Giberstein. It was incorporated in the UK and holds the company number 11265766, Coinrule also retains an office at Level 32, 1 Ropemaker St, Citypoint, London EC2 9AW in addition to its registered office address at Fisher Close Flat 6, 2 Fisher Close, London, England, SE16 5AE. As a result, Coinrule can still be considered as an emerging trading solution and is in the process of developing its community and growing as a cryptocurrency trading solution.

The platform allows anyone to automate their trading in order to maximise their profits or accumulate coins and incorporates standard trading options such as regular market buy and sell orders, as well as stop-loss/take-profit orders, and re-buying orders. Coinrule can be used from any supported web browser and connects to over 10 leading cryptocurrency exchanges via API key connections with Binance, BitMEX, Bitstamp, Bittrex, Coinbase Pro, Kraken, and Poloniex all being supported. Anyone signing up is able to take advantage of the free Starter account with a demo exchange feature before deciding whether to opt for one of the paid subscription plans which start from $29.99 per month.

Key Features

  • Functionality – Coinrule operates as a web-based solution and the team have opted for a clean, simplistic design that appeals to traders of all levels. The platform also allows anyone to deploy trading “rules” without needing to know or use any code.
  • Technology – The platform works via API integrations with over 10 supported exchanges and the team highlight that all orders are sent to the market with minimum latency time. Orders normally take around 500 Milliseconds to reach the market, and Coinrule also makes use of SMS notifications, and data encryption to enhance its service.
  • Range of Tools – The platform incorporates an easy to use, modular rule configuration system which works via simple If/Then prompts. Popular trading strategies such as stop-loss, take profit, and buy the dip/breakout can be used to make the most of contrarian, maximization, and accumulation methods.
  • Range of Plans – The service can be used for free by signing up for a Starter account, while the Hobbyist plan costs $29.99 a month. The Pro plan costs $249.99 a month and provides access to 50 live/demo rules, and unlimited template strategies and integrated exchanges.
  • Customer Support –The Help Center contains a number of useful guides and resources which are also supplemented by the official blog. The team also tackle common questions in their FAQ section, and can be contacted by live chat, email, or by connecting via Facebook or Twitter.  

How to Get Started on CoinRule

To create an account, just click the “Sign Up” tab at the top right of the home page.

1) Create an Account

To register an account, you just need to enter an email address and create a password before agreeing to the Terms of Use.  There is also the option to sign up using your Google or Facebook account. After submitting your details, you will be sent a verification email which contains the code number you need to enter in order to complete the signup process.

2) Connect an Exchange

By clicking on the “Add Exchange” tab you can connect to your preferred exchanges via API keys. When opting for Binance, you will be prompted to enter your API key details along with your secret key information. From here you need to login to Binance in order to locate your API keys and this information can be found by clicking on “API Management” and then “Create API”. You can then name the API key and click “Create New Key”, before confirming your 2FA code and completing the key creation process by following all the instructions in the confirmation email. You will then be able to see the API keys, and you should edit your API key restrictions in order to maximize your security settings. You can now complete the API integration process by returning to the Coinrule Dashboard and entering the required information.

3) Create Your Rules

Creating strategies on Coinrule is pretty straightforward and you can get started by clicking on the “Create Rule” tab located at the top right of the Dashboard. You can then create easy to setup trading strategies based on “If/Then” parameters which allow you to quickly get going and take advantage of any market movements.

You first need to select an exchange, define the event (e.g. 15% BTC price decrease), and then enter in your buy/sell order. You can also click on the “Timer” tab to configure how you would like to schedule your trades. Here, the Demo account displays a market buy order for $2500 worth of BTC to be deployed twice should the price of Bitcoin drop by 15%. A tab at the top right of the page summarizes the rule’s key conditions, and you can double check everything is in order before clicking the “Launch” tab. You can also opt for a ready-made strategy from the template library, and when you select your preferred strategy, all the details will be automatically entered into the correct sections, and you can simply adjust the settings in order to configure the strategy exactly as you like.

Here with the “Buy The Dips + Stop Loss/Take Profit” Template, the strategy is automatically setup to make purchases in the event that any coin on your integrated exchange account drops by 10%. It will also then sell the same coin once it has increased by 5% to take profit, while the stop loss feature will also trigger a sale in the event that the price drops by 3%. The template has also been configured to automatically start immediately, and execute once a day with a maximum total of 10 executions. Once again, the tab at the top right of the page summarizes all the key conditions, and you can configure the template as you like, and even add further conditions before clicking the “Launch” tab.

Coinrule Pricing

The platform can be used free of charge for an undefined time period, although, the Starter account option is restricted to only 1 Connected Exchange, 2 Demo/Live Rules, and 7 Template Strategies. The Hobbyist plan costs $29.99 per month (billed as $359 annually) and provides access to 2 Connected Exchanges, 7 Demo/Live Rules, and 30 Template Strategies. Each paid plan also includes access to Advanced Indicators and the Trader Community. More active traders can also choose from either of the Trader or Pro packages which contain even more features and the Pro package provides access to Unlimited Connected Exchanges, 50 Demo/Live Rules, and Unlimited Template Strategies. It also allows anyone signing up to take part in one-to-one training sessions, and benefit from an ultra-fast data socket and costs $249.99 a month, billed as $2,999 annually. Payments are processed by Stripe and you will be required to enter your credit card details to make a one off purchase for one year’s worth of service.

Supported Exchanges

Coinrule currently supports over ten popular cryptocurrency exchanges which can be linked via API integration.

These include:

  • Bitfinex
  • Binance
  • Binance US
  • BitMEX
  • Bitpanda Pro
  • Bitstamp
  • Bittrex
  • Coinbase Pro
  • HitBTC
  • Kraken
  • Liquid
  • Poloniex

Is Coinrule Safe?

The team declare that each user has their own dedicated private key which has been generated separately, and these private keys are in turn stored on detached data storage which is encrypted with AES-256. Coinrule also only stores encrypted forms of all API keys using 256bit AES encryption, and the team also use data encryption in transit so all communication between their website <-> application backend <-> database/cache nodes is encrypted using TLS 1.2 or higher.

Coinrule also uses Ukey1 as a secure authentication gateway partner, and as a result the team do not store passwords in their database. Ukey1 also encrypts all personal data and passwords are hashed using advanced algorithms, while the website is further secured by using Cloudflare CDN as to protect against DDoS types of attacks. In addition, the Coinrule team are transparent in nature, and the key information about themselves and their corporate setup has been made publically available. This helps to develop trust, as users can easily identify exactly who is behind the project, which isn’t always the case with crypto projects. The trading platform was also incorporated in the UK, and operates in accordance with the laws of the United Kingdom within the jurisdiction of England and Wales, meaning that users are protected by the extensive financial and commercial laws within the region.

With regards to payments, Coinrule processes your purchases by using Stripe, and transactions are marked as a Merchant-Initiated Transaction (MIT) by Stripe. As a result, all your payment details are confidentially secured, and neither Coinrule nor Stripe actually have access to your financial data. These factors help Coinrule quite a bit as the platform has only been operating since 2018, and if you run into any issues, you can contact the team directly or just speak to your credit card provider to rectify the situation.

As is always the case when using automated trading platforms and/or software, the most solid approaches always involve maximizing your own personal security in order to protect yourself from any attacks or serious issues. Simple measures such as keeping your login/personal information private will go some way to securing your account, while restricting your exchange account API and disabling withdrawals from within your account will protect you from the most serious security breaches.

When using Coinrule, you are not required to transfer any funds over, and the platform doesn’t have direct access to your crypto holdings. This is true for the the majority of trading bots or portfolio management tools as everything is done via an Application Programming Interface (API) which allows Coinrule to interface with its supported exchanges and collect price and account balance data as well as place buy and sell orders. The team can improve their security by incorporating 2FA authentication and notifying users of account activity via email/SMS. A mobile app will also allow users to keep track of their accounts while on the go, however, the platform is generally quite solid although Coinrule is still developing its online presence as well as trading community.

How Beginner Friendly is Coinrule?

To be honest, Coinrule is one of the most easy to use automated crypto trading platforms out there. While all trading platforms require some learning and take some time to get used to, Coinrule has been designed with less technical traders in mind, and the clean and simple interface make it easy to keep on top of whatever you are doing.

Rules can be created using “If/Then” parameters which are simple to understand and allow you to quickly get going, while the modular setup allows you to easily make changes and adjustments in order to configure any rule you create or template strategy that you would like to tweak. The team behind the platform designed it to be a “Lego tool-box” for cryptocurrency trading strategies and automated trading, and rules can be created quickly and back-tested before being launched. As a result, Coinrule should definitely suit less technical traders while still incorporating features that appeal to more technical traders. These include the ability to intricately create and configure strategies, and readymade templates can be configured to include additional conditions and triggers or to act in a much simpler manner if desired.

The platform also provides access to advanced TA tools and you can set up trading strategies based around RSI or moving averages approaches or follow much broader accumulation, contrarian, or take profit methods. However, the team can expand their service in the future to include more features such as trailing stop losses, additional technical indicators, and a mobile app. Anyone signing up to a Trader or Pro plan can receive one to one trading lessons, and the team also provide resources which help to explain how to use the platform and how the various aspects of engaging in automated crypto trading. Anyone interested in using the platform can always sign up for a free Starter account and test it out in order to figure out if opting for a  paid subscription will be beneficial.

Conclusion

Coinrule is a somewhat under the radar crypto trading platform which stands out due to its simplicity and ease of use. The “Lego” tool kit ideology has been well implemented as the platform’s clean and simple user interface and modular strategy configuration features make creating, tweaking, and testing strategies a relatively straightforward process for even less experienced traders. The platform also offers good exchange support and integrates with a range of leading crypto exchanges such as Binance, Coinbase Pro, Kraken, and BitMEX which should appeal to most traders as these exchanges provide good liquidity levels, and a wide range of coins to trade.

However, as easy as it is to use, Coinrule still has room to improve as more advanced users may be interested in deploying a wider range of TA based strategies than the RSI and Moving Averages strategies currently on offer. Also anyone looking to manually configure their own bots to perform more complex actions may be better served by a more extensive platform, and experienced traders may also be looking to sell their successful strategies, and interact with other users via an internal marketplace, and Coinrule currently doesn’t provide these features.

All in all, Coinrule is an interesting option for anyone looking to quickly get started in the world of automated crypto trading, and the platform is still emerging and developing in terms of it visibility, reputation, and online community. Anyone who is already active on any of the supported exchanges can always give Coinrule a try in order to improve on the limited trading options many of those exchanges currently offer. As ever, it’s a good idea to try out a free account and get a feel for the platform in order to see if one of the paid subscription plans will suit your particular needs and prove to be beneficial in the long run.

Article Produced By
Eugene Kem

Eugene holds a BA Honours Degree in Economics and remains passionate about the transformative potential of digital currencies. In addition to writing for Blockonomi, he is also conducts market analysis for Coincodex and Cyptocalibur.

https://blockonomi.com/coinrule-review/

Thomas ClaimCo.in

What is Sharding? This Ethereum Scaling Concept Explained

What is Sharding? This Ethereum Scaling Concept Explained

Sharding is a complex topic when applied to a decentralized network such as Ethereum – Find out more in our Complete Guide to Sharding

As the scaling debate in cryptocurrencies continues, some potential solutions have actually been in development for quite some time now.

Specifically, in the case of Ethereum, where a large focus is placed on decentralization and security at the expense of scalability, the application of sharding in conjunction with implementing Proof of Stake consensus is seen as the much needed mechanism through which the network can scale to practical levels for applications while still retaining its decentralization and security. Sharding is a complex topic, especially when applied to a decentralized, peer to peer network such as Ethereum where the global state of the network constantly is updated. So what exactly is sharding and how can it help blockchain networks to scale?

Sharding and Distributed Computing Background

Sharding is actually much older than blockchain technology and has been implemented in a variety of systems from business database optimizations to Google’s global Spanner database.

  • Essentially, sharding is a particular method for horizontally partitioning data within a database.
  • More generally, the database is broken into little pieces called “shards”, that when aggregated together form the original database.
  • In distributed blockchain networks, the network consists of a series of nodes connected in a peer to peer format, with no central authority.
  • As is the case with current blockchain systems, each node stores all states of the network and processes all of the transactions.
  • While this provides the high level security through decentralization, especially in Proof of Work systems such as Bitcoin and Ethereum, it leads to legitimate scaling problems.

Ethereum Sharding

Using Ethereum as an example, a full node in the Ethereum network stores the entire state of the blockchain, including account balances, storage, and contract code. Unfortunately, as the network increases in size at an exponential pace, the consensus only increases linearly. This limitation is due to the communication needed between the nodes needed to reach consensus. Nodes in the network do not have special privileges and every node in the network stores and processes every transaction. As a result, in a network the size of Ethereum’s, issues such as high gas costs and longer transaction confirmation times become noticeable problems when the network is strained. The network is only as fast as the individual nodes rather than the sum of its parts.

Sharding helps to alleviate these issues by providing an interesting, yet complex solution. The concept involves grouping subsets of nodes into shards which in turn process transactions specific to that shard. It allows the system to process many transactions in parallel, thus significantly increasing throughput. A simpler way to put it would to be imagining the division of the United States into states. While each state (a shard in this case) is part of the larger United States (Ethereum network), they have their own specific rules, boundaries, and subsets of populations. However, they do share a universal language and culture as part of their larger network that makes up the country.

Or even better, in Vitalik Buterin’s own words:

 “Imagine that Ethereum has been split into thousands of islands. Each island can do its own thing. Each of the islands has its own unique features and everyone belonging on that island i.e., the accounts, can interact with each other AND they can freely indulge in all its features. If they want to contact other islands, they will have to use some sort of protocol.”

As you can see, the concept of fragmenting the network into more efficient pieces allows the network to function as the sum of its parts, rather than being limited by the speed of each individual node.

How Does Sharding Work in Blockchains?

We will continue to use Ethereum as an example in this as it is the most well-known and arduous sharding attempts in the blockchain arena, as the Ethereum developers are implementing what is known as “state sharding”. The current state of the Ethereum blockchain is known as the “global state” and is what everyone can see when they look at the blockchain at a specific instance. The tricky part in implementing sharding in Ethereum is that by sharding the nodes into smaller subsets, these subsets need to be able to process specific sets of transactions while simultaneously updating the state of the network, all while ensuring it is valid.

Sharding in Ethereum is supposed to be implemented in a two phase rollout, more than likely after Proof of Stake is implemented in the network. Phase one will be the data layer consisting of the consensus of what data is in the shards. Phase two is the state layer. All of this is very fluid, so a general breakdown of how it may work is below. Ethereum breaks down the network into specific shards. Each shard is assigned a specific group of transactions that is determined by grouping specific accounts (including smart contracts) into a shard. Each transaction group has a header and a body that consist of the following.

Header

  • The shard ID of the transaction group
  • Assignment of validators through random sampling (verify the transactions in the shard)
  • State Root (state of the merkle root of the shard before and after transactions added)

Body

  • All of the transactions that belong to the transaction group that are part of the specific shard.

Transactions are specific to each shard and occur between accounts native to that shard. When transactions are verified, the state of the network changes and account balances, storage, etc are updated. In order for the transaction group to verify as valid, the pre-state root of the transaction group must match the shard root in the global state. If they match, the transaction group is validated and the global state is updated through the particular shard ID state root. Instead of only containing a state root, each block of the Ethereum blockchain now contains both a state root and the transaction group root. The transaction group root is the merkle root of all of the transaction groups from the specific shards for that block of transactions. Basically, there is a merkle root of all of the different shards that contain the updated and verified transaction groups. This root is stored in the blockchain along with the updated state root.

The employment of merkle tree concepts in this structure is vital to ensuring validity of the blockchain. Understanding how a merkle tree and specifically a merkle root work, can help you to grasp these concepts much more easily.Consensus within a shard is reached through a Proof of Stake consensus of randomly selected nodes that are applied to a shard for specific consensus round. This not only provides finality to the consensus, which is necessary within the shards, but also provides a particular defense to an attack that a Proof of Work blockchain would be susceptible to in this instance. The hash power required to overrun a specific shard in a PoW sharded network is drastically reduced and the ability for a malicious actor to take over a shard through computational power is feasible.

Through this, the bad actor could attack other shards through the communication protocol which is one of the more complicated and important features of sharding architecture. Random sampling selection of the validators within a shard manages to stifle this type of attack since a bad actor will not know which shard they are being placed in before they are actually placed in it. Further, random sampling will be used to select the validators that are actually validating from that random validating set. The communication protocol is vital to the sharding architecture functioning correctly in the system. You can think of the communication protocol as the universal language that is consistent among the states as part of the larger United States.

However, designing this protocol is highly challenging and needs to be performed so that it is only used when necessary. It becomes necessary when a specific node requires information that is not stored within its own shard and needs to find the shard with the requisite information. This communication is known as cross-shard communication. The cross-shard communication is achieved through applying the concept of transaction receipts. The receipt for a transaction is stored in a merkle root that can be easily verified but that is not part of the state root. The shard receiving a transaction from another shard checks the merkle root to ensure that the receipt has not been spent. Essentially, the receipts are stored in a shared memory that can be verified by other shards, but not altered. Therefore, through a distributed storage of receipts, shards are able to communicate with each other.

Sharding Moving Forward

Sharding in Ethereum is expected to be implemented after the Casper PoS upgrade. Recently, there have been some developments regarding Ethereum 2.0 which involve implementing both Casper and sharding. Sharding has also been implemented in a few other platforms, most notably Zilliqa. However, Zilliqa does not implement state sharding at this time and instead focuses on providing a high throughput blockchain by utilizing transaction and computational sharding.

Conclusion

Sharding serves to offer some promising solutions to the elephant in the room of blockchain platforms right now, scalability. While Bitcoin’s lightning network is in the testing phase and has been showing some very promising progress so far, Ethereum’s solution brings with it some unique challenges as it is pegged as a world computer that is Turing complete. Sharding will directly work only at the protocol level, so to the end user or dapp developer it may not be necessarily relevant to learn about. Regardless, Ethereum’s attempt at state sharding for a vast, decentralized network is an impressive endeavor and will be an enormous feat of accomplishment if successfully implemented.

Article Produced By
Brian Curran

Blockchain writer, web developer, and content creator. An avid supporter of the decentralized Internet and the future development of cryptocurrency platforms.

https://blockonomi.com/sharding/

Thomas ClaimCo.in

As of the time of this article’s writing BTC is trading at 8350 nearly 10 higher than it was trading for just 24 hours earlier

As of the time of this article's writing, BTC is trading at $8,350 — nearly 10% higher than it was trading for just 24 hours earlier

It’s been an explosive past 24 hours for Bitcoin. After printing a strong rejection at $7,800 on Tuesday evening that made many traders wary, the cryptocurrency finally broke out to the upside just hours later. It wasn’t an explosive move like the one that took Bitcoin from $7,000 to $7,700 late last week, but a move that was slow and controlled — something not seen too often in the ever-volatile crypto markets. As of the time of this article’s writing, BTC is trading at $8,350 — nearly 10% higher than it was trading for just 24 hours earlier, and more than 115% higher than the $3,700 lows seen in March’s “Black Thursday” crash.Although this move is still panning out, looking at the market data and technicals, analysts have become convinced that Bitcoin is decisively becoming a buyers’ market, which bodes as the latest block reward halving is now only two weeks away, estimates suggest.

There’s Plenty of Room for Bitcoin to Rally

According to an analysis by crypto derivatives trader Cantering Clark following the move to $8,400, what’s going on right now is suggestive that Bitcoin could rally even higher than it already has. He observed that with open interest, or the amount of capital locked up in the derivatives market, falling as Bitcoin has risen, there is still room for a “rush of momentum” when buyers are

convinced to step in:

There can still be a big herd rush of momentum when sidelined players catch up.An initial delayed response of participants, even better in very inefficient markets. Open interest not rising on futures gives plenty of room for BTC to run if we see some big hitters start piling on there.

In terms of technical trends, a number of resistance levels that were depressing the bullish case over the past few days have just been broken past. A daily candle close above $8,300 would invalidate the resistances, leaving BTC with more room to rally to the upside.

Not Out of the Woods Just Yet

Yes, there may be this convergence of positive signs but many have made it clear that the stock market is not yet out of the woods, despite its own ~40% rally from the March lows. This uncertainty puts Bitcoin at risk due to the cryptocurrency’s correlation with the stock market, specifically the S&P 500 index. As reported by Blockonomi previously, a note from Goldman Sachs shared by Bloomberg indicated that strategists at the multinational bank expect there to be a bearish shift in momentum in how the S&P 500 trades. The analysts said that with large-cap stocks, like Microsoft and Amazon, outperforming smaller-cap companies as of late, they’re worried a “large” downturn in markets

will follow suit:

Sharp declines in market breadth in the past have often signaled large market drawdowns. Narrow breadth can last for extended periods, but past episodes have signaled below-average market returns and eventual momentum reversals.

Goldman explained that the trend that has begun to transpire, where the gains are being consolidated in a few key players, is very similar to what happened during the Dotcom Bubble and Crash and the Great Recession. Fortunately, Bloomberg’s commodities desk, namely senior analyst Mike McGlone, wrote in a report earlier this month that Bitcoin is slowly maturing to an asset that is similar to the precious metal gold. The desk cited the increased adoption in the futures market, a growing number of users, and a decrease in the positive correlation between it and the S&P 500. Should this transition continue to gain steam, it could invalidate the sentiment Bitcoin will fall in the wake of another stock market drop.

Article Produced By
Nick Chong

Since 2013, Nick has shown interest in Bitcoin and cryptocurrencies. He has since become involved in the industry as a full-time content creator, working for NewsBTC, Bitcoinist, LongHash, among other outlets. Aside from covering the news, Nick is a Creative at Taiwanese technology company HTC.

https://blockonomi.com/bitcoin-rockets-bulls-take-over/

Thomas ClaimCo.in

Japan’s Crypto Garage Is Raising the Bar for Bitcoin-Based Cryptofinance Products

Japan’s Crypto Garage Is Raising the Bar for Bitcoin-Based Cryptofinance Products

The Halving (sometimes referred to as “the Halvening”) is the predetermined moment when Bitcoin’s block subsidy gets cut in half.

The halving of Bitcoin’s block subsidy occurs every 210,000 blocks (approximately every four years) and is a key feature of Bitcoin. Bitcoin Magazine presents non-stop coverage of Bitcoin’s third Halving with hours of commentary and analysis from Bitcoin 2020 speakers and some of our closest friends.  Ring in the new bitcoin halving cycle the right way: with us!

At Tokyo-based Crypto Garage, innovators are working to create a wide array of specialized cryptofinance tools to help facilitate a transformation of our financial world into one based on the values of Bitcoin: transparency, security and decentralization. “We see a world where there is a platform for various types of assets that can be transacted without counterparty risk,” as Justin Dhingra, chief cryptofinance officer at Crypto Garage, put it. “Our service is not here to replace the existing financial infrastructure, but instead give the end customer, ranging from consumers to institutions, a choice to conduct different types of financial transactions on a peer-to-peer (P2P) basis.” 

Crypto Garage’s DNA in Bitcoin

Crypto Garage seeks to become the leading architect of products in the cryptofinance space, which it defines as a specialized field that integrates modeling and structuring from financial engineering, cryptography and Bitcoin technology. In terms of how this vision can interact with the world of Bitcoin, Crypto Garage believes that security is paramount for building a financial infrastructure and that Bitcoin is the only protocol that is suitable for a secure network.

The company has been active since 2018, when it was founded as a partnership between Digital Garage, Tokyo Tanshi and Blockstream. Digital Garage is a Tokyo Stock Exchange-listed company and started its research in the Bitcoin protocol in 2015 in collaboration with some leading Bitcoin Core developers. DG Lab, Digital Garage’s research and development organization, continues to work on advancing the Bitcoin protocol by supporting core protocol developers. Digital Garage is also an early investor in Blockstream. Tokyo Tanshi is a well-established money market broker in Japan with 100 years of history.

Pushing Bitcoin Cryptofinance Applications Forward

Building up a company that seeks to leverage the concepts of financial engineering, cryptography and Bitcoin technology has not been a straightforward or easy task. “Our approach is to go after long-term tech but still win short-term business,” Dhingra said. “In 2019, we broke ground on the announcement of our digital asset settlement application called SETTLENET on Blockstream’s Liquid Network. With SETTLENET,  digital assets can be settled simultaneously using atomic swaps. The instant settlement is an attractive feature for trading purposes where one counterparty no longer needs to worry who pays first when settling a trade.   SETTLENET seeks to apply the decentralized, P2P, trust-minimized principles of Bitcoin to the trading community.” SETTLENET’s expected launch date is set for June 2020.

For the long term, Crypto Garage aims to spread cryptofinance products through Bitcoin, Lightning and the Liquid Network, and one key technology it is working on is the Discreet Log Contracts (DLCs) protocol. DLCs enable the creation of monetary contracts directly on the Bitcoin blockchain, using an oracle for determining its outcome, but without having to reveal the existence of the contract to the oracle. As with regular contracts, parties first need to agree on the terms, such as the different payouts for the possible outcomes. They then pre-commit their collaterals in a Bitcoin transaction broadcast to the blockchain, and can unilaterally redeem their payouts at contract maturity using a signature from the oracle over the outcome value. Using the Bitcoin blockchain removes the need for an intermediary third party, while also mitigating counterparty risks.

The first natural applications of this kind of technology are financial contracts, such as options, futures and derivatives and Crypto Garage is testing the possibilities of this technology. In 2019, Crypto Garage traded a financial contract linked to the price of BTC/USD with Blockstream and a U.S. equity option settled in bitcoin with Skew, a crypto derivatives data platform company, using DLCs. From the lessons learned from 2019, Crypto Garage is working on an application based on DLCs called P2P Derivatives that enables trust minimized derivative transactions between two parties. Crypto Garage expects to release an MVP version of the application around May 2020.  With the MVP, Crypto Garage hopes to stir interest for further development and usage of DLCs and P2P cryptofinance products.

To continue to push Bitcoin-based cryptofinance applications, Crypto Garage wants to see more progress in the development of best practices for open-source technology within the Bitcoin industry. As one example, the P2P derivative product is based on open-source specifications for DLCs jointly developed with Suredbits. Crypto Garage is actively looking for more contributions to these specifications, so if you are interested, feel free to reach out directly on the GitHub repository. If you have an interest in beta testing its coming P2P derivatives application, contact the Crypto Garage team at  Crypto Garage will continue to work closely with the Bitcoin developer community and contribute with OSS.

Make History With a Decentralized Trustless Financial Infrastructure

At Crypto Garage, the team believes that the role of a thriving and decentralized trustless financial system will be a hugely transformative force for people all around the world. The financial market is currently a selective market limited to professional financial institutions and corporations, and derivatives contracts are traded based on the trustworthiness of one party able to pay at the expiration of the contract. A good portion of the world still does not have access to the financial market and financial contracts due to not having a bank account and cannot enter into financial contracts freely with anyone in the world. Crypto Garage hopes features like atomic swaps for instant settlement and DLCs for a more trust minimized financial contract framework will bring us closer to a decentralized financial system.

Article Produced By
Crypto Garage

https://bitcoinmagazine.com/articles/japans-crypto-garage-is-raising-the-bar-for-bitcoin-based-cryptofinance-products

Thomas ClaimCo.in

Bitcoin Price In a High Volatility Zig-zag Action Possibly Sets a Three Month Lateral Market in the 4500 6500 Range

Bitcoin Price In a High Volatility Zig-zag Action, Possibly Sets a Three Month Lateral Market in the $4500 – $6500 Range

The COVID-19 virus has sent most of the world into lock-down causing markets of all types to fall and bounce with every new news report.

The bitcoin price and cryptocurrencies have also felt this pressure as we have shown in the past weeks.So much uncertainty of how things will culminate has left the world reeling. Keep in mind the values could do something unexpected from just a sliver of news because of market sensitivity. Here are how things look right now for Bitcoin.

Long-term Analysis

After the trend dropped the prices to $4000 support, a new congestion area was settled between $4000 and $6500. Quotes could cover the range up and down boosted by volatility for three months before the break out of it to the upside. Thus following the Mass Psychology´s phases and development theories. On the other hand, a distribution area is increasing its influence to drive the same breakout down to the next support near $3000 or below. With values and technical indicators finally synchronized, external factors and news would bring grounds to a natural integration of Bitcoin to global portfolios as an accepted asset. So while the bullish mood gets back, values would go lateral until halving ends in May.

Mid-term Analysis

Prices could balance with offer and demand forces starting a new side-ways movement. A partial reversal movement to $6500 and beyond was expected as a kind of confirmation to activate the current new $2500 basis points scenario. Yet after that happened the downward trend would take place to $4000 during the zig-zag action. External political factors and News plays a principal role to favor of the main uptrend after halving which could include Bitcoin as part of the institutional financial tools to consider. Mathematical indicators work as a sustaining net to contextualize with traditional formations like Inverted Flags and measure every target.

Short-term Analysis

Japanese Candlestick fairy Analysis confirms that crows expelled the demand´ soldiers from the last fairy battlefield, directly to $4000. Next following Fibonacci Fan lines, stages could be in an intermediate sustaining area with the rise of plenty of volatility. After the bitcoin halving, Soldiers should reorder themselves to clash against the crows. They will have a chance to prevail and march upwards across the new imaginary battlefield. For the moment they are barely able to defend $4000 levels as support. This is forcing the crows to forget their distribution ideas near $10000. Now they enter a new 3-month zero-sum game, between $4000 and $6500.

Article Produced By
Ramiro Burgos

Ramiro is a technical analyst specializing in stocks, futures, options and Bitcoin. He provides weekly analysis on the bitcoin price for Bitsonline. Based in Buenos Aires, Argentina, Ramiro has worked in the financial industry since 1987, with his technical analyses appearing in local and global news publications.

https://bitsonline.com/bitcoin-price-in-a-high-volatility-zig-zag-action-possibly-sets-a-three-month-lateral-market-in-the-4500-6500-range/

Thomas ClaimCo.in

Bitcoin Prices Are Going In Zig-zag Action With Enough Volatility For Another Two Months

Bitcoin Prices Are Going In Zig-zag Action With Enough Volatility For Another Two Months

Bitcoin prices are going in zig-zag action with enough volatility for another two months. Giving us a lateral market between $3300 and $7000.

Long-Term Analysis

A new congestion area is arising between $3300 and $7000. Current quotes are covering the range up and down boosted by volatility. The churn could go on at least for another two months—a break out of it, perhaps to the upside. Following Mass Psychology´s phases and development, Hope turned into Disbelief rather than Optimism. Every YouTuber stopped spreading bullish opinions due to the bearish correction anticipated in the charts. A distribution area is increasing its influence as demand decreases, to drive the same breakout idea down to next support near $3000 or below. External factors and financial news started bringing grounds to a natural integration of Bitcoin to global portfolios as an accepted asset in the mid-term future. So while the bullish idea gets back, values would go lateral until halving ends in May.

Mid-Term Analysis

After a big Head and Shoulders formation confirmed, bitcoin prices fell to $3800 and started a new side-ways movement. A partial reversal movement to $6800 and beyond took place as expected as a kind of confirmation to activate the current late $3000 basis points scenario. Still, after that happened, the downward would take place in $3000 during the zig-zag action. An inverted Flag formation activated a bearish target, which could be softened by positive political factors from traditional mass media. Measurable indicators work as a sustaining net to contextualize with traditional formations and to calculate every target.

Short-Term Analysis

Japanese Candlestick evaluation favors the distribution with healthy crows defeating dispersed soldiers. Kicking them down to support a lower support area. This lowering action follows the Elliot Wave Theory, and anticipation of a bearish 3rd movement. Heading price quotes down to $3300, even as volatility provides some isolated peaks near $6000. According to Fibonacci Fan lines, the next stage could be a central sustaining area arise plenty of volatility. After halving, demand´ soldiers should reorder themselves to clash against the crows with a chance to prevail, but for the moment, they can badly defend $4000 levels as support.

Article Produced By
Ramiro Burgos

Ramiro is a technical analyst specializing in stocks, futures, options and Bitcoin. He provides weekly analysis on the bitcoin price for Bitsonline. Based in Buenos Aires, Argentina, Ramiro has worked in the financial industry since 1987, with his technical analyses appearing in local and global news publications.

https://bitsonline.com/bitcoin-prices-are-going-in-zig-zag-action-with-enough-volatility-for-another-two-months/

Thomas ClaimCo.in

Bitcoin Values Drop While Volatility Reigns On Way to Bitcoin Halving

Bitcoin Values Drop While Volatility Reigns On Way to Bitcoin Halving

Bitcoin prices have been dropping during what is a period of volatility leading up to the bitcoin halving. This is when the emissions of new bitcoins will be halved.

Long Term Analysis

Trends are testing $8000 support, during current zig-zagging distribution action which anticipates the next mining halving arrival in May 2020. Present sell-off professional anticipation could be explained if we consider that if it´s true that 70% of today´s Bitcoin in existence is saved in cold wallets. Meaning worldwide, negotiable coins being added to exchanges and street trading barely reaches 5 million coins. If that rumor is confirmed, available offers should barely be increased in about 3 months, when a huge demand will be needed to balance the global market to avoid a crack.

External factors like News, personal opinions from YouTubers and several financial reports, started stimulating the general mood to create demand and to gear Consensus to sustain the bullish mood, based in 2017´s highest peaks to be beaten, but Mass Psychology Analysis did never progress from the Hope phase to Optimism. To consolidate at $10000 as a new lateral axis level, values would step back to $8500. Thus helping the trend to gain strength by synchronizing prices with all development theories. The trend could be exposed to stepping back below the current level, due to technical indicators that are going down to their bottom limits while values go lateral. Current strength-based on good news could disappear, leaving prices to drop to $8000. This is with a chance to bounce back to go up across the distribution area to overcome $10000 and stabilize beyond that objective in a future stage.

These days only external factors contribute to sustaining the trend if and when they are positive. Generating a lateral market but also helping the trend to fit into Elliott Wave Theory´s corrective, 2nd two-month movement. If so this confirms, when finished it would give way to some rise which would balance the halving´s now available offers. Combining several development theories with the Japanese Candlestick fairy ideas: A Fibonacci re-tracement as the numbers back the crows to kick the soldiers down for a $2000 basis point correction. All while following Elliott Wave Theory. When the Soldiers arrive at $8000, they could re-organize to strike back from support and re-enter the imaginary battlefield.

For example, with the logistical advantage of technical indicators on their side to prevail against crows who held at $10000 and seems to be strong enough to control the action. On the other hand, some unrevealed external factors could sustain the market by a sideways movement while the trends wait on mathematical indicators. Look for Bitcoin values along with other cryptocurrencies to maintain a volatile path while we get closer to the halving. If you find Ramiro’s analyses interesting or helpful, you can find out more about how he comes to his conclusions by checking out his primer book, the Manual de Análisis Técnico Aplicado a los Mercados Bursátiles.

Article Produced By
Ramiro Burgos

Ramiro is a technical analyst specializing in stocks, futures, options and Bitcoin. He provides weekly analysis on the bitcoin price for Bitsonline. Based in Buenos Aires, Argentina, Ramiro has worked in the financial industry since 1987, with his technical analyses appearing in local and global news publications.

https://bitsonline.com/bitcoin-values-drop-while-volatility-reigns-on-way-to-bitcoin-halving/

Thomas ClaimCo.in

5 Sites To Instantly Buy Bitcoin With Debit or Credit Card

5 Sites To Instantly Buy Bitcoin With Debit or Credit Card

Bitcoin is on its way to becoming mainstream, but the biggest hurdle is letting users instantly buy bitcoins.

Most of the Bitcoin exchanges accept many payment options, with the exception of credit/debit cards. One reason for this is because of the irreversible nature of Bitcoin. However, there are many legit Bitcoin exchanges that have started accepting credit card & debit cards as a payment method. Here are some of the popular & legit Bitcoin websites where you can use your debit or credit card to buy bitcoins. I have tested these all myself. Regarding using a credit card, most of these sites use your cash limit on the credit card, so you need to check with your bank to find the limit of your credit card.

So, without further delay, here’s that list:

  1. Cex.io
  2. Coinmama
  3. Binance
  4. CoinBase
  5. Bitit
  6. Wirex

Do note that, a few credit card companies have stopped allowing the purchase of Bitcoin with Credit cards due to the volatility of the market:

  • Chase
  • Bank of America
  • Citi Bank

However, I have compiled a list of updated sites that allows users from various countries to buy Bitcoin with debit card.

List Of Sites To Purchase Bitcoin Using Debit Card or Credit Card:

1. Cex.io

I used my travel card (prepaid USD card) to purchase bitcoins on Cex.io & it worked like a charm. CEX has been around for years, and it is one trusted site to buy Bitcoin with debit or credit card. When you have verified your account, go to the “Cards” section & add your cards. It may take 1-2 days for card verification, but once it’s verified, you can use it to instantly purchase bitcoins. Along with BTC, you can also buy ETH (Ethereum) using your credit/debit card.

2. Coinmama

Coinmama is another site where you can use your Credit or debit card to purchase Bitcoins instantly. Unlike other sites, CoinMama doesn’t offer Bitcoin wallet & you need to add your Bitcoin Wallet address on which you want to receive Bitcoins. I found the price of Bitcoins to be higher here in comparison to CEX.io. However, this is another option that you should keep when you need to buy Bitcoins immediately.

3. Binance

Binance is world’s biggest cryptocurrency exchange, and it offers an option to buy Bitcoin with Visa or Mastercard instantly. Binance supports a large number of countries, and this platform is idle for those who are also looking to trade cryptos after acquiring it. Binance supports both debit card, and credit card. Binance serves all the countries except USA. The fees is also the lowest, and unlike other platform, you will have access to more sophisticated tools with Binance. Another reason to use Binance is, you will get the best Bitcoin price since it has a lot of buyers and sellers.

4. Bitit

Bitit is a France based Bitcoin company that is selling popular cryptocurrencies including BTC. And they proudly claim to be the easiest place to get started with cryptocurrencies and I too believe so because they are selling cryptos in exchange of more than 10 fiat currencies. Also, one can use their service for buying bitcoin from credit/debit cards instantly as they support Visa, MasterCard, American Express, & Maestro powered debit/credit cards. The process to get started here is simple and as explained below:

And after verification you will be entitled to these limits:

  • Purchase up to 1500€ per week via credit/debit card
  • Purchase up to 2500€/week by cash voucher, e-wallet or direct banking.

5. CoinBase: (USA customers only)

CoinBase is one of the most popular websites to purchase Bitcoin, Litecoin & ETH. They also support purchasing Bitcoins using Visa debit/credit card & the process is instant. This feature is available to you only if you are from the USA. If are from any other country, you should look at other options listed here.

To get started buying Bitcoins using a debit card on Coinbase, here is what you need to do:

  • Register for an account on Coinbase here
  • Complete KYC
  • Go to Payment settings page & click on Add payment method.
  • Select card & add debit/credit card.
  • Coinbase will make two small transactions.
  • Login to your card statement account & notice the small transaction amount.
  • Add it to your Coinbase account under the payment page (This would verify the card)

After this you can start purchasing Bitcoins anytime instantly using your added debit or credit card.

6. Wirex

Wirex is providing a complete crypto banking solution for UK residents and much more. Using Wirex you can buy Bitcoin easily. When you register on Wirex and complete you KYC you get access to a crypto linked bank account. Here you can top-up your account with a debit/credit card and use this top-up to buy BTC anytime. If you are someone looking for a complete banking solution, Wirex is the way to go as they have their physical cards to available for the UK. Here is the deal from CoinSutra: Wirex Deal: Free Virtual and Physical Bitcoin Debit Card.

Conclusion

Exchange Name Rating Based On Ease Of Use & Fee
CEX.io 8.5/10
Binance 9/10
Bitit 9.5/10
Coinbase 8/10
Coinmama 9.5/10
Wirex 8/10
Bitcoin ATMs 6/10

I will keep updating this exclusive list of sites that allow purchasing bitcoins using a credit & debit card.

Article Produced By
Harsh Agrawal

An award-winning blogger with a track record of 10+ years. An international speaker and author who loves blockchain and crypto world. After discovering about decentralized finance and with his background of Information technology, he made his mission to help others learn and get started with it via CoinSutra.

https://coinsutra.com/buy-bitcoins-debit-credit-card/

Thomas ClaimCo.in

Best Bitcoin Exchanges In The World For Trading Bitcoins Updated List

Best Bitcoin Exchanges In The World For Trading Bitcoins [Updated List]

Here is a list of the top Bitcoins exchanges around the world:

  1. Binance (Biggest and low fees bitcoin exchange)

  2. Binance futures (For Bitcoin futures trading)

  3. Coinmama (Fast and quick exchange)

  4. Cex.io

  5. Deribit (For derivatives)

  6. Bybit (For advanced users)

  7. BitMex (Bitcoin margin trading exchange)

  8. Localbitcoins (P2P exchange)

  9. Bittrex

  10. KuCoin

  11. Kraken (For USA audience)

Looking for the best Bitcoin exchanges?

But before that. We all know..Bitcoin is gaining momentum faster than anybody initially thought. People around the globe have already started talking about it, and thanks to many new startups, even non-technical people are able to purchase Bitcoin these days. If you search for “Best Bitcoin exchanges“, you will get overwhelmed with the options available. But this exclusive guide will help you pick one of the top Bitcoin exchanges around the globe to do business with. Most of these exchanges accept money by wire transfer & the best part is, you can use them from any part of the world (as long as Bitcoin is not illegal in your country). So without further ado, let’s look at the best Bitcoin trading platforms to help you buy and/or sell Bitcoin. If you are looking for a website to buy Bitcoins instantly, here are some of the best & most reliable options:

  • CoinMama
  • Wirex
  • Bitit

9 of the Best Bitcoin Exchanges To Use In 2020

1. Binance (World’s biggest Bitcoin exchanges)

Binance is the biggest and rapidly growing Bitcoin exchange that has created the biggest ecosystem around it. Since its ICO to till date, it has grown tremendously and is now placed in the top 10 Bitcoin exchanges in the world. Binance is based out of Malta and offers the biggest marketplace for Bitcoin. Binance being a centralized exchange has taken a unique take to expand its business and also provides a decent discount for day traders. To get started with Binance you need to register using your email ID and the process is quite simple & fast. Binance offers a native coin called BNB which is probably the other crypto that you could HODL for longer period. Binance’s fee structure is also unique. To start with they have 0.1% standard trading fee which is already quite less than other peers. Binance offers a native coin called BNB which is probably the other crypto that you could HODL for longer period. If you hold the BNB token, you can get 25% rebate on your trading activity.

2. Coinbase (GDAX)

Coinbase is one of the U.S. popular bitcoin exchanges. They have one of the neatest interface & you can also use their iOS & Android app to buy Bitcoins or Etherium. The operate in many countries & getting started with Coinbase is easy. I have already shared a detailed guide on how to use Coinbase for buying Bitcoin. Once you signup for Coinbase using the link below, you will get $10 bonus once you have done a transaction of $100. This is free money so you might not want to miss this offer. While Coinbase is good for buying & selling Bitcoin but if you are into trading, you need to go to GDAX for their official exchange. You can use your existing Coinbase login to get started.

3. CEX

CEX is one of the most trusted Bitcoin exchanges out there. Their fees are only 0.25% which is one of the industry standard. The security is top-notch and they support multiple payment options such as:

Debit card (Visa and master)

  • SWIFT
  • SEPA
  • ACH
  • Cryptocurrency

CEX also supports USDT which is a must-have for any exchange that deals in Bitcoin. You can read a complete CEX review here. CEX has been supported by all major crypto trading tools such as Shrimpy, 3Commas to name a few. They offer their services in all jurisdictions around the globe including 31 states of the USA. The company was started in 2013 and have offices in the United Kingdom and the USA.

4. Bittrex

Bittrex is my favorite Bitcoin exchange because of its clean design and easy usability. It is a US-based cryptocurrency exchange that provides you the option to trade more than 190 cryptocurrencies at a time. They are well-regulated and compliant with all of the current US rules, so crypto users need not worry about the safety of their funds. Bittrex handles one of the largest BTC trading volumes out of all the exchanges in the world. To get started with Bittrex, you need to register and log in through your email ID, but to withdraw funds, you need to do a KYC by submitting your ID documents and phone number, as well as enabling two-factor authentication for higher limits. But one good thing about Bittrex is the account verification happens quite fast.

Bittrex supports two types of accounts:

  • Basic Account – withdrawal funds worth up to 3 BTC/day.
  • Advanced Account – withdrawal funds worth up to 100 BTC/day.

Bittrex is a “crypto-only” exchange, meaning it doesn’t allow you to deposit fiat currencies such as USD, EUR, GBP, etc and their fee schedule is flat 0.25% for all. They also provide access to advanced trading tools like candlestick charts and crosshairs, but the user interface is quite clean and intuitive, so newbies should have no problems.

5. Poloniex

When it comes to trading volume and supported cryptocurrencies & trust, nothing beats Poloniex. Getting started on Poloneix is easiest as you can deposit any cryptocurrency or USDT (Tether dollars) & start trading. The moment you set-up your account, make sure you enable 2 step authentication before depositing any currency. The exchange supports Stop-limit orders to reduce trading risk. Have 5-minute, 15-minute, 30-minute, 2-hour, and 4-hour candlesticks. Charts are fully Zoomable to cover the complete market history. If you are dealing in Altcoins, this is the best Cryptocurrency exchange for you.

6. Kraken

Kraken is one of the largest Bitcoin exchanges in the U.S.A. Based in San Francisco, U.S.A., with Kraken you can also trade using other cryptocurrencies like Etherium & Zcash. Getting started is easy & takes about 1-2 days for verification. This exchange is open for people around the globe & you can fund your account in various fiat currencies like USD, Canadian Dollars, Yen, and Euros (to name a few) & cryptocurrencies like Ripple, Litecoin, Dogecoin. The first wire transfer will take many days which can be tedious for a new user. However, after the first successful deposit, things will be smoother. Overall, if you don’t mind waiting for a few days to get started with Bitcoin trading, Kraken is a great option.

7. Bitstamp

This is another popular Bitcoin exchange that claims to be the first fully licensed exchange. You can buy bitcoins using your credit or debit card. Their interface is prettier than Kraken, and they offer an iOS & Android app so you can trade from your smartphone.

Other features:

A bank wire transfer typically takes 2-5 business days, and a SEPA transfer takes 1-3 business days to reach your Bitstamp account. Bitstamp is best for traders who are looking for an advanced exchange for buying/selling bitcoins to make a profit.

8. Gemini

Gemini is another great Bitcoin. Gemini is based out of New York City & also operates in North America, Europe, and Asia.They offer individual accounts as well as institutional accounts. Their price is competitive & their interface is easy to use for beginners. I had a talk with their team regarding opening an institutional account & they are a very friendly company to work with. If you are looking to open a corporate account for Bitcoin trading in the U.S.A, Gemini is a great option.

9. OKCoin

OKCoin is another Chinese Bitcoin exchange that lets you trade in USD. They have great support & an easy to use interface. The verification process takes about 2 days & once you are all set, you can deposit money using a wire transfer. Wire transfer fees are 0% & they even offer a dedicated account manager. You can also deposit money using PerfectMoney (with a 3% fee). As I said earlier, every day, new Bitcoin exchanges are coming online. We can expect to see more and more of them with even better features for end users like you and me.

One word of caution:

They are good for trading, but if you need to park your bitcoins, either use a mobile-based wallet such as Atomic or buy a hardware wallet like LedgerWallet. Any wallet that lets you store your coins offline is the best and most secure.

Article Produced By
Harsh Agrawal

An award-winning blogger with a track record of 10+ years. An international speaker and author who loves blockchain and crypto world. After discovering about decentralized finance and with his background of Information technology, he made his mission to help others learn and get started with it via CoinSutra.

https://coinsutra.com/best-bitcoin-exchanges/

  • Sub-accounts
  • SMS price alerts
  • High security
  • 8% fees for credit card purchasing
    • Don’t use these Bitcoin exchanges as a wallet.

Thomas ClaimCo.in

How To Invest in Bitcoin Getting Started Guide 2020

How To Invest in Bitcoin – Getting Started Guide (2020)

The best time to plant a tree was 20 years ago. The second best time is now.

This advice in an old Chinese proverb is most apt for the users planning to invest in Bitcoins. If you are someone who has heard about Bitcoin, irrespective of when but have never invested in it NOW is the right time. Bitcoin, a digital decentralized currency based on Blockchain, is going places. Once you know how Bitcoin works, it is a no-brainer to understand that Bitcoin is here to stay. If we try to understand the technology and its underlying principles, it is right to say that the price will keep rising over the years to come. One of the major reasons for the claim is the finite amount of Bitcoins, making it a great store of value (only 21 million Bitcoins) and viral adoption around the globe. If you are ready and excited to purchase Bitcoins, this guide will help you get started with Bitcoin investment. Treat this as a blueprint for Bitcoin investments. Do customize it according to your current financial situation that suits your needs.

Here is what you need to start investing in Bitcoins:

  1. An exchange or website to buy Bitcoins
  2. A wallet where you can store Bitcoins

These two are must-haves to get started with. Under no circumstances should you miss the understanding of the correct website and a safe wallet, or you might fall prey to some MLM (Multi-level Marketing) or scam, resulting in losses. What you need to understand is Bitcoin is like keeping money with you. Unlike USD, INR or other currencies that you keep in the bank, Bitcoin is different. And you are responsible for buying, selling and securely storing it. For now, let’s discuss point #1 and #2. In the coming days, I will also talk about the amount of money you should invest in Bitcoin.

What do you need to start investing in Bitcoins?

1. Exchange from where you can buy Bitcoins:

If you are living in a country where you have an official Bitcoin exchange, you don’t need to worry much about purchasing Bitcoins. You can quickly sign up for these exchanges and transfer money from your bank account to purchase Bitcoins.

Listed below are a few country-wise exchanges from where you can buy Bitcoins:

  • Global: CoinMama
  • USA: CoinBase
  • India: WazirX
  • UK, Europe: CEX
  • South Korea: Bithumb
  • Russia: Yobit
  • Nigeria: Binance
  • Japan: Coinmama
  • Australia: CoinSpot
  • South Africa: Luno

However, the problem is for people residing in countries where there are no Bitcoin exchanges and users have no option of transferring funds from their bank accounts to purchase Bitcoins. This makes it really hard for the users to hold Bitcoins now and with the prices surging at a rapid pace, it might be too late for many to get hold of Bitcoins. But that is where we come to rescue. How? you may ask. We have come up with other options through which you can buy Bitcoins.

Below are a few websites from where you can buy Bitcoins in other ways such as:

  • Cash (Risky but works)
  • Using PayPal to buy Bitcoin
  • Payoneer
  • Credit cards
  • Debit cards

Initially, when it was not as easy to purchase Bitcoins in my country, I used a credit card to buy Bitcoins from Cex.io. This worked pretty well as the Bitcoin price difference between the International market and in my country was significant. If you are in a country where you can’t buy Bitcoins directly, you can use these international sites where they accept credit & debit cards.

Here is a list of sites that allows buying Bitcoins using Credit/Debit card:

  • CEX.io
  • CoinMama
  • Binance

Another method that works for most countries in the world is a P2P exchange. Think of this P2P exchange as eBay where you connect directly with the seller to purchase Bitcoins.

These exchanges support various methods of payment such as :

  • Cash
  • Payoneer
  • PayPal
  • Online transfer
  • iTunes Gift card
  • Amazon Gift card
  • Moneygram

…and many other methods.

The two that I have used in the past and recommend is:

  • Paxful
  • Localbitcoins

You can read this guide to learn from my experience of using Localbitcoins to purchase Bitcoins. As we discover new working methods, we will keep sharing it on CoinSutra. For now, what’s important is that you need to pick an exchange/website from where you can buy Bitcoins on a regular basis. This will take care of our #1. Note: If you are in a country where you have no option to buy Bitcoins, do let us know in the comment section below. We will do our best to find a solution for you.

2. Keeping/Storing your Bitcoin in a secure wallet:

After purchasing Bitcoin, you should store it on a secure wallet. To store Bitcoins, you need a wallet. If you search online for Bitcoin wallets, you will get plenty of options but you need to be careful with choosing the right one. With many wallets being a fraud, you will end up losing your Bitcoins. Just search on Google play store for the Bitcoin wallets and you will be shocked to see the number of results. This is a big mistake to pick any random Bitcoin wallet just because it’s listed on the Google play store or that it is on the first page of Google. As Bitcoin prices are rising, the number of scams are also increasing.

Another big mistake that even experienced users make is by keeping the wallet in an exchange. Most of the exchanges like CEX, Binance,  and numerous others offer an in-built Bitcoin wallet and lets you store Bitcoins in their wallet. The problem with holding Bitcoins in exchange is if you don’t own the Bitcoins. Since very few countries in the world are working on the regulation of Bitcoin and Cryptocurrency in general, these exchanges can be shut down. This happened in China sometime in September 2017. Exchanges are also at risk of getting hacked and you might lose your Bitcoin if you store it on an exchange. You can read about the biggest Bitcoin hacks here.

As I mentioned earlier, Bitcoin is not like a typical currency that you keep in your bank. You are responsible for the security of your Bitcoins and that’s why you keep it in a wallet that you have 100% control over. This is done by having the ownership of seed word or private key.  For the first-timer, it may sound very technical, but it is actually easy to understand and learn. To simplify your understanding of Bitcoin wallet security, you just need to use a well-recognized wallet that lets you, and only you, keep the seed words. This seed word is the password for your Bitcoin. Even if you lose your phone or hardware wallet, you can recover your Bitcoin using the seed words.

There are different kinds of wallets for Bitcoins.

  • Mobile wallets that come with a mobile application and is available for both iOS and Android.
  • The desktop wallet which comes as a software
  • Web wallet which comes as a website
  • Hardware wallet which is the most secure ways
  • A paper wallet is another most secure method but setting it up is not easy.

The challenge with the mobile app-based wallet is the security that is partly dependent on the security of mobile OS that makes it not so secure. The same is the case with the desktop-based wallet. The most secure way to keep your Bitcoin in a hardware wallet. If you are someone storing more than 0.2 BTC, which is worth more than $2000 in today’s time, you should order a hardware wallet like Ledger Nano X or Trezor.

The problem with the hardware wallet is availability.

It takes a few weeks to get delivered as the demand is very high. If you are starting now, you can use a mobile wallet to store Bitcoin and later transfer the Bitcoins to a hardware wallet. If you need Bitcoins for daily use and need to store a smaller amount, you can use a mobile wallet such as Atomic wallet.

Few important things before you start investing in Bitcoins:

  1. Bitcoin is an excellent investment in today’s day. With the adoption of Bitcoin increasing across the globe, the prices are continuously surging.
  2. You can buy Bitcoin in the fraction as well. Ex: 0.1 Bitcoin or even 0.005 Bitcoin.
  3. It will take time to learn about all the aspects of Bitcoins. For starters, you need to buy Bitcoins and hold it in a wallet which I have recommended above.
  4. You are responsible for the safety of your Bitcoins. You should read my earlier guide on things not to do after investing in Bitcoins. This will stop you from making rookie mistakes that many are making after buying Bitcoins.
  5. Only buy from an exchange that is trusted and recommended by reliable resources. I take pride in my recommendations as I understand that even a single dollar is hard-earned money by the user.
  6. Just remember, you are putting your money into Bitcoin. Even if the price reaches a great level, you shouldn’t miss out on doing what you are supposed to do. Treat your Bitcoin investment like any other investment and be wise with your money.

FAQ’s related to investing in Bitcoin:

How much can you invest in Bitcoin?

There is no lower or upper limit as such in Bitcoin. The minimum that could invest is as low as $10, and you could buy a large volume like 10 or more BTC using OTC brokers.

How to invest in Bitcoin for beginners?

Your country determines from where you should buy Bitcoin. There is an exchange called Binance which is idle for everyone to invest in Bitcoin. Users from India could buy from Wazirx. Users from the USA could invest in Bitcoin using CoinBase.

Where to store Bitcoin after investing?

Using a Bitcoin hardware wallet is the best way to store your Bitcoins. You can order Ledger Nano which is the most modern secure way to store BTC.

Is Bitcoin a Good investment in 2020?

Yes, Bitcoin is worth investing even in 2020. Bitcoin has been a high-risk high reward investment until now. Started at mere few cents and now Bitcoin is worth more than $10000. Bitcoin should be part of everyone’s portfolio under high-risk, high reward investment. As suggested by many professionals, you should invest only that amount in Bitcoin, that you are ok losing. I hope this guide helps you clear your doubts about investing in Bitcoins. In the coming days, I will share more tips and ideas about Bitcoin investment.

Article Produced By
Harsh Agrawal

An award-winning blogger with a track record of 10+ years. An international speaker and author who loves blockchain and crypto world. After discovering about decentralized finance and with his background of Information technology, he made his mission to help others learn and get started with it via CoinSutra.

https://coinsutra.com/start-investing-bitcoins-beginners-guide/

Thomas ClaimCo.in

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