How to Identify Cryptocurrency and ICO Scams

How to Identify Cryptocurrency and ICO Scams

Introduction

There are so many cryptocurrencies that are launched every week and with these new cryptocurrencies, there are possibilities of coming up with initial coin offerings (ICO). As we know that cryptocurrency is getting mileage day by day since its inception. Some of these coins are very famous and growing exponentially. Additionally, these coins are highly volatile as compared to other financial assets. Due to the nature of high volatility, it attracts speculators, traders, and investors as well as fraudulent as well. Many tokens are not legit and investors get trapped by fake cryptocurrency or ICO. Therefore, we must know to identify fake crypto coins and ICO.

What is cryptocurrency?

Cryptocurrencies are digital currencies in an encrypted format. They are those kinds of digital currencies that facilitate users to make payments right to each other through the internet. Cryptocurrencies have been adopted by a few countries as legal tenders. There are several cryptocurrencies – the most well-known of these are Bitcoin, Uniq Token, and Ether.

What is ICO?

ICO is an abbreviated form of initial coin offering similarly to IPO (Initial Public Offerings) in the share market. These are thought to be ‘fundraising techniques’ used by companies and new startups. New companies willing to raise fund to create a new token, application, or service creates an ICO as a mode to raise funds from the market. The key difference between both is that IPO is usually for well-established businesses, whereas ICO is usually for the newcomers. Even though, some of the ICOs have generated immense earnings for their investors and also various others have been convicted to be frauds. We can say that frauds are very common in the crypto industry.

Type of Scam in Cryptocurrency and ICO

       1.  Bounty Scams

When ICO fails to return their promoters who were assured monetary benefits. At initial, scammers promised to give good returns on investment. They collect the money from promoters but in the end, they don’t give any returns and make so many excuses.

       2.  Exit Scam

These are very common scams done by fraud. They ask for money for ICO sales and promise to bring good services or coins but they close their organization suddenly without proper reason or informing their investors. In 2018, it has been reported that more than $100M in capital raised to ICOs was stolen and this is an example of an exit scam. 

      3.  White Paper Piracy Scam

These are very active scammers who try to copy the famous ICO and shows that they are the real one and try to cheat investors by asking for money for ICO. Victims get trapped by their lucrative ICO.

      4.  Ponzi Scheme

Ponzi schemes means highly lucrative schemes which attract any investor to buy their crypto coins and ICO. Such types of schemes are a highly profitable and good return on investment but they scam the investors by collecting their funds and never returning.

      5.  Exchange Scam

For deceiving investors, when software developers design to launch their ICO at a fake cryptocurrency exchange and try to collect money from investors for crypto coin or ICO.

This kind of scam is called an “exchange scam.”

      6.  URL Scams

Fake websites are developed to scam the money from investors as this website claims to deposit money for buying coins or ICO or other services and once user deposits the money, then they never return or give coins, ICO, token, or any services. Such types of scams are called URL scams.

Identification of Such Scams

       1.  Go through the whitepaper

This is advised to read all the white papers of the organization to get a clear idea of the background, objectives, policy, business facsimiles, business SWOT analysis, and the timeline for execution of any blockchain-related task.

       2.  Understand the project

After reading the project, you should try to understand the feasibility of the project and the execution mechanism. The fake project will be highly lucrative to attract investors as their plan of execution will be so easy to achieve and they don’t do a proper SWOT analysis. You can easily track whether the project is achievable or not.

       3.  Thoroughly Understand the Team:

Last but not least, you must try to know the background of the promoters or team behind the organization. Fake companies don’t have a good team or well-known person in the team. They will have new faces to cheat the people so you must look at their profile with help of Google, social media et cetera.

Summary

Due to a lack of information in the market, developers’ tricks to scam money on the name of cryptocurrency, tokens, or ICO. Therefore, this is highly advised to do due diligence before investing in any of the above fraud schemes or companies. Always try to learn as much as possible about cryptocurrency and its legitimacy so you may not get trapped by such scammers.

Rising Scams in the Crypto Space: How To Avoid Them

Introduction

Cryptocurrency is very popular for online peer-to-peer payment without the involvement of the central bank. This is a digital encrypted currency that doesn’t have any physical appearance. The first cryptocurrency came in 2009, which was Bitcoin. As these transactions are carried out only online, it has chances of fraud also. For 10 years, it has been seen that there are so many scams taking place. Let’s see what type of scam has been taken place, and how it can be avoided.

Scams in Cryptocurrency

1. Fake Cryptocurrency Platform

Many fake currencies have popped up in the market, which was created to loot the people in the name of the cryptocurrency. Fake cryptocurrencies were created to gain investor’s confidence, and they were told to invest or buy such cryptocurrency. Some innocent investors were trapped, and they lost their money in the name of cryptocurrency. Example: My Big Coin. The fraudsters behind My Big Coin took $6 million from clienteles to invest in their fake cryptocurrency and then sent the funds into their private bank accounts.

2. Fake Digital Wallet

The possessors of cryptocurrencies utilize digital wallets to store their coins. There are generally two types of digital wallets: cold and hot wallets. Cold wallets are also called offline or hardware wallets and these are thought to be safer for storing any type of cryptocurrencies as they are not connected to the internet. In contrast, a hot wallet is less safe than a cold wallet because it is connected to the internet. Some company says that their hot wallet is safer and after transferring client cryptocurrency, they stole easily.

3. Mining Scams

There are a few cloud mining services provider which allows the customer to rent server space at a given rate for mining Altcoins. In the name of mining, they will steal your cryptocurrency sometime and you will lose your money. This type of fraud is also common. There are no authentic firms that can be able to guarantee a profit for sure.

4. ICO Scam

Initial Coin Offerings (ICOs) are usually brought to raise funds for any blockchain-related activities and its ventures using selling crypto coins. However, ICOs are an unregulated market which is a free invitation for fraudsters who have taken up the chance to exploit other stakeholders. Such scams are getting generalized day by day.

5. Ponzi Schemes

These schemes are a fraudulent investing scam that produces returns for earlier investors with money taken from later investors. This is almost similar to a pyramid scheme in that both are based on using new investors’ funds to pay the former backers. Fraud companies will promise lucrative returns and try to trap the new customers to take their money for investment purposes. They never return the money and ultimately investors or customer loses entire fund. This type of fraud is very common in cryptocurrency through social media, seminars, and other online channels.

How to Avoid?

Above scams can be avoided if investors keep themselves aware of the above points and they should also take care of these given points.

Legit Cryptocurrency Exchange: Customer should look for genuine cryptocurrency exchange which can offer a genuine platform for trading cryptocurrency. Cryptocurrency should be traded through branded and legal cryptocurrency exchanges where you can reply for your fund deposit.

Legit Coins:  It is always recommended to use the popular cryptocurrency rather than new unauthentic cryptocurrency with fake promises. There are numerous coins in the market which has zero values for your capital. Those coins are created to loot the new customers only. You should properly judge such crypto coins before making any investment decision.

Company Registration and Affiliation: It is recommended to find if the company is registered properly under the company registration act and if it has got the legal status to operate a cryptocurrency business. Many fraud companies will tell that they are regulated and registered, but they have not done any registration in actuality. So you need to dig the information for such suspicious companies.

Security for the Transaction: You need to check if their online security system is up to mark or not who is offering you a cryptocurrency trading platform. You can ask the services for hot and cold wallets. If you are satisfied with their security system, only then prefer to choose their platform.

KYC Method: Generally, the good and authentic company does the KYC once time, at least because it comes under regulatory compliances. So, if the company is asking for KYC, it is a good policy, which adds value for trust.

Conclusion

We have discussed the above rising scams in cryptocurrency and also learned to avoid such scams. You need to be very careful about such scams as cryptocurrency is not physically happening, but all are online. Therefore, there are high chances to be scammed. Be aware and be informed is the key to avoid scams.

UNICOIN DCX PARTNERS WITH ONFIDO FOR INSTANT AND SECURE KYC FOR ITS DIGITAL EXCHANGES

In a digitized era where organizations are striving for excellence in providing above-par services to their customers, Unicoin DCX has entrusted itself with becoming an exchange in total compliance with the legal requirements. In this endeavor, Unicoin DCX has penned an agreement with Onfido for its Best-in-Class ID Document Review services. Incorporated in Singapore, Onfido uses AI-based technology assessment to determine whether a government issued-ID is genuine or fraudulent. The procedure moves on with facial recognition. Onfido has many reputed clients including Revolut, bunq and Bitstamp with Unicoin DCX now joining the list.
The terms of the agreement provide Onfido with the authorization to check/process the client’s details along with collecting additional information from the client on behalf of Unicoin DCX. Onfido will also process the document to check/facial similarity check-selfie, facial similarity check-video, known faces, watchlist report-enhanced, facial similarity check-selfie auto among others. Due to the evolving nature of the crypto industry, considering the various facets is the key for progress and with the agreement, Unicoin DCX has entered a new chapter in its constant development towards providing the secured and best services to its stakeholders.
About Unicoin DCX
Unicoin DCX is jointly promoted by Pride Holding and other partners. Founded by a team of leading practitioners from the global financial hub, the exchange will offer traders to trade in various cryptocurrencies using an automated trading system built by its renowned software partner AX1 Systems. Unicoin DCX has incorporated the industry-leading front-to-back exchange platform, which ensures a seamless experience for its users. It will provide safer, smarter and convenient exchange services to its invaluable clients located around the world. Unicoin DCX system is based upon the groundbreaking blockchain technology allowing buyers and sellers to send, receive and trade in the state-of-the-art trading console. The exchange has pledged to strictly comply with the laws and guidelines of Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) policies.
At its launch, Unicoin DCX will provide trading opportunities in three segments i.e., BTC, USD and USDT Markets. At the inception phase, popular cryptocurrency products including Bitcoin, Bitcoin Cash, Ethereum and Litecoin are tradable under the various segments. The offerings will grow in the ensuing days given the popularity and viability of other cryptocurrencies. The presence of market makers and traders from around the world provides ample opportunity to take advantage of a volatile crypto market in UDCX platform where the available liquidity and speed of order execution make is unrivalled.
Thanking you,


Jitesh Surendran
(Chief Executive Officer)

How to Protect Your Bitcoins Against Theft and Hacks

Introduction:

Bitcoin is the most popular cryptocurrency and most valuable. Bitcoin is used for the peer-to-peer safe transaction as it is decentralised, so no central agency is involved for surveillance or transaction approval. These transactions are approved and validated by miners around the world, and they charge a small fraction of Bitcoin that is nominal. Bitcoin is used to buy products, services without involving the federal body. The modality of the Bitcoin transaction is purely online, so it is exposed to be hacked and theft. Therefore it is important to take care of certain things to avoid such losses. Before, we know how to protect your Bitcoin, let’s know about Bitcoin to understand its protection.

Bitcoin:

Bitcoin is a decentralized cryptocurrency, without a federal bank or single proprietor that can be sent from one user to another user on the peer-to-peer blockchain-based network without the requirement for mediators. Transactions are verified by worldwide network nodes through cryptography and logged in an open distributed ledger. The cryptocurrency was invented in 2008 by Satoshi Nakamoto. The currency started to use in 2009 when its application was released as open-source software. The quantity of Bitcoin is limited to 21 Million.

Transactions are demarcated using a Forth-like scripting linguistic. Transactions consist of one or more inputs and one or more outputs. When a person sends Bitcoin, he designates each address and the quantity of Bitcoin being sent to that address in an output. To avoid double expenditure, each input must refer to a previous unspent output in the open net ledger.

Protection Against Theft and Hacks:

  • Strong Password

You need to make a combination of small, cap letters, numbers, and special characters, so it will not be easy for anyone to break the password. Easy password is one of the reasons to be hacked and compromised. Password must not be saved in the browser or your email to avoid the chances of risk. Your password must be different from other social and email users. Making strong passwords will help to prevent hacking.

  • Two-Factors Authentication

It is advisable to use two-factor authentication for login into your trading account. It protects maximum in case of hacking because it requires login with the help of two factors, so it is not easy to hack the trading account or wallet. Google two factors authenticator can also be used.

  • Get Your Bitcoin Off the Exchange

This is highly recommended that after buying your Bitcoin from Cryptocurrency Exchange, you should keep your Bitcoin in your wallet rather than in the Exchange Wallet. You can have your wallet offline or in a Cold wallet then it is safer than Hot Wallet. Many companies offer the sale of both cold and hot wallets so you can buy to store your Bitcoin. In case of hacking in the Exchange wallet, your Bitcoin will be still safe in your cold wallet.

  • Use Cryptocurrency wallet

There are many types of wallets like web wallets, desktop wallets, mobile wallets, hardware wallets, and paper wallets. The crypto wallets offer added security features over a traditional wallet. Cryptocurrency is not tangible, so crypto wallets don’t store your tangible cryptocurrencies but store the keys to your crypto instead.

Conclusion:

Since Bitcoin is operated online through the internet and it makes Bitcoin risky to be stolen. You need to know the pros and cons of Bitcoin use. Above all, you have to clearly understand the transaction of Bitcoin mechanism and its protection against theft and hacks. It requires a strong password, two ways of authentication, and need your private wallet for storing the Bitcoin so that you can put your Bitcoin in a much safer place.

Tips on How to Manage Your Bitcoins

Introduction

Since Cryptocurrency is becoming popular every day to a new height, the number of users is also increasing every day. Therefore, it is important to know the management of your cryptocurrency including Bitcoin. If you are not able to manage your digital assets, then the chances of losses are also not lesser. As you know that cryptocurrency is used or circulated online-only therefore it attracts fraud easily. You need to act smart to safeguard your cryptocurrency like Bitcoin, Ethereum, Uncoin.

When it comes to any kind of your fund, your foremost concern is management to safeguard the fund and we are discussing here the same thing.

Know about Bitcoin

Bitcoin is a digital cryptocurrency and leader in the area of cryptocurrency. Bitcoin was officially launched in 2009, and it is thought to be created by Satoshi Nakamoto. It was released on open source software, and the code of this Bitcoin is BTC, and this is purely based on blockchain technology.

Blockchain technology makes Bitcoin immutable to edit the transaction, peer-to-peer transaction, highly secured, low transaction cost, low time consumption. You require a digital wallet to store the Bitcoin which can either be a hot wallet or cold wallet and it is the choice of users. Bitcoin is used the same as other currencies to buy services, products, or conversion from one currency to another. You can call Bitcoin the king of all cryptocurrencies as well.

Start with Small Investment

If you are new to the cryptocurrency industry, then it is always advisable that you should start with a very minimal amount of investment at inception. Later, when you get all the pros and cons about the product, you can think about the investment of an additional amount. First, you should look at the legit cryptocurrency exchange platform from where you can buy Bitcoin after fulfilling the compliance and KYC. You may need to convert your fiat currency to USDT or you may buy the Bitcoin directly that is equivalent to your fund. There will be a small amount of service cost for buying Bitcoin. After successful buying of Bitcoin, you need to have your wallet where you can store your Bitcoin. Exchanges also provide the facility for a hot and cold wallet that can be accessed by yourself. You can daily check your Bitcoin value with help of the same exchange or other web portals to know the appreciation or depreciation of your Bitcoin value. There are so many fluctuations that happen in Bitcoin. It can either thrill you or depress you, so it is better that you keep yourself aware of this movement and stay away from emotions and expectations.

Diversify Investment

This is the principle of risk management that you must not invest all your fund in one product or cryptocurrency. You should make a portfolio for your investment capability. Since there are so many digital currencies running, and their values are randomly bullish and bearish. It is difficult to predict which cryptocurrency is better for time being and future prospective. We can say that Bitcoin is the leader of all cryptocurrencies. However, diversifying your capital to other legit currencies is better and it will help to gain the long-term benefits from the portfolio. It is assumed that all cryptocurrencies cannot perform badly at the same time. Therefore, it is highly recommended to make portfolios for cryptocurrency investment.

Keep Coins in your wallet

There are two ways to keep your coins, one is to store coins in the wallet of cryptocurrency exchange and the other is to store the coins in your own wallet. It is advisable to keep your crypto coin with yourself in your wallet rather than to keep it in the wallet of cryptocurrency exchange. It is rarely possible to hack the wallet of a good cryptocurrency exchange. However, we cannot deny that the exchange wallet cannot be compromised because all these are online, and there always lies the possibility of hacks and scams. It is considered as a better option to buy your crypto wallet and after buying Bitcoin, you can transfer your coins to your wallet, and remember that it should be disconnected to the internet. An offline wallet is more secured than an online wallet.

Long Term Focus

Bitcoin performs better if you analyze its price history. So, it is advisable to buy Bitcoin and hold it for the long run. In a short period, it may not give you reasonable returns, but it may enhance the value of your invested capital year by year. If you try to sell your coin in a short term, then there will be transaction costs and service charges, and you will be able to earn only a minimal return. So, it might not look like a reasonable amount of money when you liquidate your Bitcoin. It is a good strategy to buy and hold Bitcoin for years so its value can multiply which has been happened in previous years. Bitcoin was just 1 dollar approximately in 2009, and now it has reached $45000. You can imagine if you have invested in Bitcoin that time for few coins, then how much it would have in your hand now.

Conclusion

Herewith, we have got a clear idea of how to manage Bitcoin, which is an essential factor to know before actually buying any cryptocurrency. Since this type of currency is valuable only online or when you trade off these coins to purchase products or services, and therefore, you have to keep safety majors from being scammed. We always suggest learning the Bitcoin management before investment, and that can be started with nominal as well. Additionally, you need to keep updated yourself with cryptocurrency news which influences the price fluctuation.

Read More

How Coronavirus Impacts the Cryptocurrency Market and Trade?

Coronavirus in Brief

Coronavirus, also called Covid-19, started spreading from Wuhan, China, and in a very short period, it proliferated all over the globe. The cause of the virus is still under research. However, bats and pangolins are the prime suspects to carry the virus. The virus is deadly and causes lung failure, and symptoms are identified as cold, severe pain in the neck, high body temperature, loss of taste or smell, tiredness, loss of speech, and chest pain. Till date, 187 countries have been infected so far and numbers are only adding. The main reason for the outbreak of coronavirus is longer periods of symptoms identification and human to human transmission.  This virus can mutate, which might be more dangerous to human beings, and few mutants have been recognized till date. The virus is lethal and has influenced the social and economic conditions.

Impact on Life and Global Economy

Coronavirus is a big threat now to all human beings despite large or small economies, thus locking down all social and economic activities. People cannot go outside their homes due to which economic stability has degraded day by day.  All countries are trying to combat the virus with the help of pumping money for medical up-gradation, testing kit development, mask production, and food security. This may cost almost or more than 2 trillion-dollar worth throughout the world as per the United Nations. 86.60 Trillion dollars is the economy of the world, which means 2.31% of the world economy may be vanished by just an invisible COVID-19. You can understand this either of these Italy, Brazil, Canada, Russia, South Korea, Spain, Australia, Mexico, or Indonesia’s economy is under 2 trillion dollars. In other words, Covid19 is trying to spoil the economy as bigger as either of the listed countries.

Cryptocurrency Volume and Trade

Overall the volume of trading cryptocurrency has been come down by 4.17% from May 10, 2020, due to the pandemic. However, the average monthly growth is positive with 3.11%, whereas Binance, bitFlyer, Bitmex, HitBTC, and Liquid are the top volume generator as per theNomics.com report. The Bitcoin price has kept on increasing since the past 6 weeks, which is a good sign for crypto trading. This shows that confidence in Bitcoin is escalating even in a pandemic situation. Altcoins have also maintained their trade volume as normal. Traders are trading like any other day.

Growth of Cryptocurrency after End of Virus

It has seen the correlation of Bitcoin and gold than top-level stock indexes like the S&P 500. It was observed that Gold and Bitcoin were highly correlated last month in March 2020, which affirms Bitcoin as digital gold. You might have noted one important thing in March when crude oil was falling below zero; then, cryptocurrency was still bullish.

Therefore, coronavirus affected cryptocurrency with less magnitude as compared to other financial assets or commodities.  Few top-class agencies suggested that it will hit above $15000 per Bitcoin till the end of 2020. Kraken also said that Bitcoin’s price might reach $350,000 by 2045. Hence, Cryptocurrency has the opportunity to grow in the upcoming days.

Conclusion

Today’s main problem for human beings is COVID-19, as this virus has killed more than 3, 12,000, whereas 2, 14,000 people were killed by the atomic bomb in Japan in 1945. These death numbers are exponentially increasing every day. Additionally, Covid-19 is the devastating economic condition of all countries, which is causing hyperinflation. Many currencies of the world are devaluating despite the economic packages pumped by the International Monetary Fund (IMF) and by other countries themselves. Besides these, cryptocurrency has not been affected devastatingly, and users of cryptocurrency increased in the pandemic time. Trading is going on as usual in the crypto market. Not only cryptocurrency but other digital payment system has also been getting bigger.

Bitcoin Halving

Introduction

A block halving is a process of sinking the rate at which fresh cryptocurrency units are created. Precisely, it denotes the periodical halving occasion that cut the block rewards provided to Bitcoin miners. The date and timing of Bitcoin halving are at 08:41:30 GMT on 12 May 2020. Simply you can understand that after every 210,000 blocks, the Bitcoin block reward will be half of the current rewards for miners. They will be receiving just 50% less BTC for every transaction verification. This event takes place every four years, and the code of halving Bitcoin can be found on the Bitcoin Core Github. Bitcoin halving has many names like Bitcoin havening, reward drop, reward splitting, and reward halving. We will learn more about Bitcoin Halving from the article below.

Significance

This is the fundamental of the cryptocurrency economic model as it ensures the digital coins will be dispensed at a stable rate, following an expected decaying rate. This differentiates the traditional fiat currencies and cryptocurrencies because of the premeasured rate of monetary inflation, whereas the other fiat currency has infinite supply mechanisms. 

There are chances of only 32 times halving events, and after that, there are no chances of further halving. As a result, there will be no more creation of the cryptocurrency since Bitcoin will reach its maximum threshold supply limit.

History

Launch Date: Since theBitcoin was launched in 2009, the total number of circulation is 18,247,825. The reward had initially started at 50 BTC per block.

1st Halving: 28 November 2012 was the date when the first halving took place, and the miners were getting only 25 BTC for every successful transaction verification.

2nd Halving: The second halving was done on 9 July 2016, and the rewards were reduced to 12.5 BTC.

3rd Halving: The third halving process will be completed on 12 May 2020, and from this event onwards, the miners will be getting only 6.25 BTC per block verification.

Essential Data Sheet

Total BTC in Circulation : 18,247,825

Total BTC Produced : 21,000,000

Percentage of BTC Mined : 86.85%

BTC Market Cap (USD) : 167,813,416,182

BTC Generated Each Day : 1,937

Approximate Block Time : 9.44 Minutes

Current Block Height : 619,037

Block Until Halving : 10,963

Source: Buy Bitcoin Worldwide

Last Updated: 2 March 2020

Conclusion:

Bitcoin halving is a significant protocol that occurs every 4 years. Due to this procedure, it maintains the deflationary value of Bitcoin, and we know that the fiat currency of any country is centrally controlled by its nature. This impacts the miners as such miners used to get 50% of Bitcoin for their work of mining. Miners were receiving 50 Bitcoin at the start, and now after 11 years, they will be getting only 6.25 BTC. In hindsight, if we calculate for 2024 and 2028, then the miners will receive 3.125 BTC and 1.5625 BTC, respectively.

How The Wild World Of Cryptocurrency Could Make You Rich | Unicoin DCX

Introduction

Cryptocurrency is very lucrative and shining in the world of finance. The world’s popular businessman is also investing in crypto, and some countries are allowing crypto as one of their legal transaction. However, trades are happening worldwide within a concise period. The peer-peer transaction, low-cost fees, no central banks, and highly secured ways are making the cryptocurrency accessible in actual.

We can merely Google and know that many small investors became millionaires after trading in cryptocurrencies like Bitcoin, Ethereum, XRP, Unicoin, Neo, etc. Investors procure and hold their digital assets or ICO at the time of launch or the lowest price.  Later, when the market price of currency increases, they were enlisted amazingly in the millionaires’ society. Their cryptocurrencies get multiplied in hundred or multi-hundred times which in turn make them a wealthy individual.

The Wild world of cryptocurrency

As we know that cryptocurrency is still not regulated or under process in most places in the world. However, the crypto volume is increasing massively day by day, indicating “this is a new world of cryptocurrency,” where growth is escalating even without proper regulation. Vast transactions are taking place steadily when it comes to buying or selling of the digital currency. People are transferring their digital coins to the wallet of another person. For instance, a total of 33,677 Bitcoins traded on 13th May 2019, which is equivalent to $1.3 billion. If cryptos get regulated under federal law, then their volume will be multi-times of the present size in the world. At the same time, you must also remember that there can be chances of extremely high volatility in the cryptocurrencies. That may bring hard times for few a traders and better time for rest of traders. Prediction is not an easy task even for speculators, but growth is almost inevitable in upcoming days.

Possibility to make you rich

In any business or trading, including stocks, commodity, and forex, there are opportunities for benefit or risk. Hence people make or lose money in their respective businesses.  In most cases, moneymaker gets highlighted with fame such names like  Mr. Erick Fineman invested $1000 into Bitcoin at the rate of $12 per coin in 2011 and bitcoin worth multiplied 100 times to $1200 per coin in 2013. His invested capital also got increased by 100x. The list of such people includes Winklevoss brothers, Charlie Strem, Peter Saddington, and Jered Kenna who became millionaires after investing in digital currency.

This saying is true that if you can think, then you can do it as simple as it is. To make yourself productive, acquire adequate knowledge, and later try to choose the best digital cryptocurrency whose chances of growth are calculative higher. Then you need to have legit cryptocurrency exchange before any investment commitment. If you are trying to enter into derivatives of cryptocurrency then again, you should have proper risk and fund management plan for buying and selling. Ultimately, the digital wallet is the place to keep your cryptocurrency. Each trader should need to take extensive care while selecting your assets that your earned money must lie at a safe place.

Conclusion

Billion-dollar treasures, mounting volumes, astonishing leverage, harsh different risk, peer to peer secret transaction and blockchain model-based are exceptional features making this crypto world more distinctive than other financial worlds. There are approximately 2580 coins with Market Cap: $265,307,448,694 on 3rd September 2019 where Bitcoin is holding solely 71.0 % of all together. All these sorts are bringing enormous investment in the crypto world because of which ample of opportunities are available to become rich. Traders can earn with a reasonable investment if in the right platform for the right crypto coin.

Cryptocurrency Trading & Investing Starter Guide

Introduction:

Cryptocurrencies are the cryptographically secured kind of digital currencies widely used in trading nowadays. Blockchain Technology is the method used that makes these currencies highly trustworthy and secured mainly because the digital ledger entries once made are irreversible. The market capitalization of Cryptocurrencies has reached 100 billion in just after 6 months since early 2017 from 15 billion dollars. Cryptocurrency is the currency of the future that is what people believe. Therefore for asset growth, people are now inclined towards investing and trading in cryptocurrencies.

Cryptocurrency Trading:

Cryptocurrency trading is done in 3 ways. Investors are buying and selling cryptocurrency with the help of their fiat currency; however, they can do the transaction through cryptocurrency itself if they have. Crypto to crypto is also available to trade through many exchanges. This kind of trading is available 24/7, which makes the cryptocurrency market more liquid and volatile. 

Consequently, more traders are jumping into trading for hedging or speculation. Cryptocurrency is safe and secured in the digital form and transactions are protected with multilayers securities system, but it is always suggested to trade through legit cryptocurrency exchange as several exchanges exist in the market which may not be genuine. Finally, your wallet must be much protected, and there is a different kind of wallets available, and you may choose as per your requirement and safety major where you can keep your crypto assets as long as you want. 

Investing Starter Guide: 

  • To know-how market runs

The market runs with the active involvement of buyer and sellers, and thus price moves on. There are plentiful market participants who help to provide the liquidity for the smooth running of cryptocurrency transaction. Those are exchange, clearing & settlement institution, Brokers, and traders. These all have their role in the crypto market, and some miners help for solving the problem in case of bitcoin transaction. 

  • To know legit broker and platform

There are various individuals or companies which try to provide cryptocurrency trading, but among those, most of them are fake, which attract customers with their Ponzi schemes. Therefore, you need to be very careful while choosing a broker or cryptocurrency exchanges. You should only go for authorized brokers or crypto exchange for avoiding any deceitful. 

  • To know the transactional mechanism 

Before deciding to start trading cryptocurrency, you must know all the fees for your trading pair or crypto coins and must be aware of all the hidden charges. Despite altogether these, you should ask the way of funding in and payout methods as well. 

  • Risk involved

If you are choosing the trade with the leveraged market for cryptocurrency, then you must calculate the expected loss in case of adverse market scenario because that may go beyond your assumption as this is a very volatile market. You should have a readymade plan for such a situation to minimize the risk.

  • Method of exit or settlement 

After buying the cryptocurrency, one can save cryptocurrency in your wallet as long as they want or they can choose to buy or sell to avail the price fluctuation speculative opportunity. It depends upon the investor’s way of a trading plan because someone may also keep for reinvesting or buying other things. 

Conclusion: 

Cryptocurrency trading is becoming popular day by day since inception due to various factors like security, safety, wider use, borderless acceptance. Since this is crypto trading which concerns about its security and legitimacy, thus you need to take intensive care for checking all the necessary points before coming into the crypto world. Investment in cryptocurrency may give good return within a period however you need to have adequate knowledge if you want to trade with margin trading and moreover, you must confirm shield twice regarding your wallets where you are supposed to store your cryptocurrency.

What is Cryptocurrency Trading | Unicoin DCX

Cryptocurrency is the digital and encrypted currency, based upon advanced blockchain technology. The transactions are very safe and secured from peer to peer. They refer these currencies as crypto, cryptocurrency, or crypto coin. There are many cryptocurrencies in the market, like Bitcoin, Unicoin, and Ethereum. Cryptocurrency trading is a process where traders try to take the opportunity of the price movement of the crypto coin through any legit exchange. It is similar to commodities or forex trading in modality. However, there are many differences while considering security and safety. Crypto trading is done using a spread betting or CFD trading account or buying and selling the underlying coins through a cryptocurrency exchange. There are 3 ways of cryptocurrency trading.

Fiat to Crypto Trading

You can buy the cryptocurrency by paying your fiat currency like American Dollar (USD), Great Britain Pound (GBP), and Canadian Dollar (CAD). There is a value for each crypto coins to fiat currency, and that keeps on fluctuating. So while buying, you need to put the exact amount of fiat against the cryptocurrency. This kind of trading is highly happening because traders feel comfortable to trade in their denomination.

Crypto to Crypto Trading

If you already have cryptocurrencies in your wallet, you can trade other cryptos by opening an account with any cryptocurrency exchange. Moreover, you can trade one crypto to another against the ongoing price. Trading crypto to crypto is popular among the crypto traders because they like to buy or sell bitcoin with an altcoin.

Storing Cryptocurrencies

If someone has gifted or transferred digital coins to their wallet, traders hold it for future use. Such traders don’t trade any cryptocurrency intentionally but generally, store what they have in their wallet. They consider this as one of the expensive fancy gift as well as future currency. There are many kinds of wallets available in the market to store the cryptocurrencies.

Spread Betting and Margin Trading In Crypto

Spread betting and margin trading are a derivative form of trading. They are similar to forex trading when you chose to trade via any broker or exchange. These kinds of trading facilitate the user to speculate the price movement of cryptocurrencies for dual benefits. User can buy or sell the crypto without having ownership, and they need to pay small transaction cost with minimal margin in their trading account. A trader can buy if price speculation to rise up and similarly they can opt for short sell if the price is falling as well.

Crypto trading is considered to be the safest because cryptocurrencies are based upon the blockchain. Each block is linked together with a network called cryptography, which restricts any error or manipulation. In recent years, crypto trading is getting the edge. The number of investors is increasing tremendously. Many governments are also allowing and giving license for crypto trading. Hence it is also called as future currency, where the central bank renders no command. On account of this, the quality of trading is snowballing. Ultimately, investors have to be updated with the crypto world, especially while buy Bitcoin and buy ethereum other Altcoins.

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