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.

What is Ethereum | Unicoin DCX

Ethereum is an open-source, public, blockchain-based distributed computing platform and operating system featuring smart contract (scripting) functionality. It supports a modified version of Nakamoto consensus via transaction-based state transitions. Ethereum is the second most popular after bitcoin and getting edge day by day due to its simplicity in the mechanism. 19 years old programmer created a platform to store and perform computerized programs crosswise an international network of scattered nodes.

History

A Canadian programmer named Vitalik Buterin was involved in blockchain technology in 2011, and he founded bitcoin magazine with his partner. He started to think beyond the existing bitcoin technology for more simplification to use in the financial world. Finally, he released the white paper in 2013, stating that the general scripting language of Ethereum. Since then, it attracted investors and entrepreneurs to think about business activities. There was a massive movement in Ethereum and later, it moved up with 13000 per cent in 2017, which was the highest record. The growing value of ethereum forced investors to gauge the effects. However, it was speculators and other traders that were alarmed and sought precaution.

Technology Behind

Ethereum is programmed blockchain technology. Ethereum is working based on peer to peer protocol, which means this network can be accessed by many computers around the world. The modality of Ethereum is different than bitcoin because Ethereum users can use any own code, whereas it was not possible in other bitcoin technologies. The smart contract has all the stored coding system for their users. In Ethereum, they also run the Ethereum Virtual Machine (EVM). This Ethereum Virtual Machine is a supercomputer which is associated with all computing power of the nodes in the overall network system. To execute the smart contracts, the EVM takes small fees in exchange for the computational power consumed by the digital smart contract.

Buying Ethereum

1. Open account in cryptocurrency exchange

Interested person or the user may open a trading account in any digital currency exchange like Unicoin DCX. This is the first step to comply with the formality and to get an authorized user id and password.

2. Fund the fiat currency

After opening the account, you need to transfer the fiat currency to your trading account. There are specific fiat currencies which are acceptable, and can you can transfer it into your legit account.

3. Login in the trading account to place order

You can use your credential to log in to your trading account then there are numbers of cryptocurrencies with the ongoing price. Therefore, you can choose an Ethereum pair and place the order to buy the desired quantity.

4. Save to wallet

After buying, you can store your Ethereum into your secured wallet. Later, when you want to use, you can use your wallet.

Importance

Ethereum is very popular among technology developers and entrepreneurs. They take the help of Ethereum to create a decentralized business which is not in existence before. This smart contract is prioritized to eliminate third party or middle man to save the transaction cost. Supply chain management and crowdfunding are major areas where Ethereum is highly used. Nowadays, other industries are also entering the crypto world.

Conclusion

Ethereum is a substitute for bitcoin and with a more simplified version, helps users to take advantage of cryptocurrencies in the fast-moving world with fast-moving blockchain technology. Due to this smart contract, business transactions are more secured and cost-effective as well.

Ultimately, investors have to be updated with the crypto world, especially while buy Bitcoin and buy ethereum other Altcoins.

What is Bitcoin | Unicoin DCX

What is Bitcoin

Bitcoin is electronic cash, transferable, decentralized, and the transaction can be done person to person without any intermediary or central banks. Bitcoin is one among the popular cryptos in digital currencies, and it has high monetary value also. Transaction of bitcoin is irreversible, which makes it unique and salable in the financial market.

History:
Bitcoin is a virtual digital currency, and people assume that Satoshi Nakamoto invented bitcoins. However, there is no evidence for this, but he was a Japanese person who integrated numerous existing ideas from the Cypherpunk community to create the innovative bitcoin in 2008, and this bitcoin network came into existence in 2009. Nakamoto was the key person for producing the majority of the official bitcoin in the network. He used to publish all the information and modification regarding bitcoin on his technical forum of the bitcoin community.  Bitcoin whitepaper, released on 31 October 2008, and subsequently, the world got attention enthusiastically.

Technology behind:
Bitcoin, based upon blockchain technology where vast public ledger are disseminated all over the internet network. The blocks which are forming are in a secured, and definite chain and each block represent the confirmed transaction, and these blocks get entry into the whole system which can be seen and validated by the peer to peer computer network. In other ways, we can understand that each transaction is confirmed by the network nodes through cryptography and recorded in a public distributed ledger.  

Ownership:
Bitcoins creation is a reward for a process known as mining. You can exchange bitcoins for other currencies, products, and services. You can buy bitcoin from legit Crypto Currency Exchange. For that, you need to open one trading account. Then it would help if you put your allowed, fiat currency and you can buy bitcoin with the ongoing price. After purchasing, you need to place your coins into your secured wallet, which can be an offline or an online wallet as per your need. From buying to storing the bitcoin, you need a secured wallet to avoid hacking.

Importance Features:
·Usually, one block is getting added in every 10 minutes.
·100000000 Satoshi is equal to 1 bitcoin, and Satoshi is the smallest denomination of bitcoin.
·The total number of bitcoin can be generated up to 21 million and 16.7 million, which has been generated already among those.
·The Bitcoin transaction can happen without knowing to any third party.·No tax is levied by any government, but the service charge or transaction cost is involved.
·Transparent transaction based on network-based mining.
·Highly secured unchangeable ledger for accounting records of bitcoin.

Conclusion:
Many countries are using Bitcoin, and it has come up with regulation and license. However, due to its unique quality, it has been facing criticism for an illegal transaction, high electricity consumption, high price volatility, threat of stealing, but bitcoin is considered to be the king of all cryptocurrencies and investors are coming in huge numbers to invest into bitcoin-related projects or to trade this lucrative crypto coin. 

Ultimately, investors have to be updated with the crypto world, especially while buy Bitcoin and buy ethereum other Altcoins.

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