Bitcoin Trading: Where to Start?
Bitcoin divides opinion. Some think it’s the most revolutionary development in global finance ever, whilst others are all too eager to demonize it as “fraud” or Ponzi Scheme. Whatever your opinion of the world’s first truly decentralized money, one thing is certain: the price is incredibly volatile. It’s not uncommon for Bitcoin to see 20% moves in just 24 hours. In fact, the largest swing ever in the price of Bitcoin was in 2013. It dropped from $233 to $67 in a single night. For investors, a crash of 71% such as the one experienced that April will have been heart-wrenching to endure. However, not all would have lost money […]
What caused the Cryptocurrency Boom of 2017?
Bitcoin, which is a digital currency (cryptocurrency), saw a 2000% increase in value from January 1, 2017, to December 16, 2017. Today, cryptocurrencies are the world’s fastest-growing asset class with a market cap of $645 billion, up from just $15 billion in 2017. The lightning rise of Bitcoin led to an accusation by JPMorgan CEO Jamie Dimon, who called it a “fraud worse than tulip bulbs,” referring to the Dutch tulip bulb bubble that burst in 1637. Other critics like investor Warren Buffet labeled Bitcoin a “mirage,” and cautioned people to “stay away from it.” These are both serious accusations. So why are some people so critical of cryptocurrencies? Up […]
How to safely buy and sell cryptocurrency
Cryptocurrency exchanges and theft have been regular news since Bitcoin went big, but that hasn’t deterred investors: The number of digital cryptocurrency wallets in existence by the end of 2017 was 21.5 million. That’s a huge increase from 2015, when only 5.4 million wallets were around. Along with the new popularity of cryptocurrency has come a new breed of cryptocurrency criminals. In 2016 $95 million worth of Bitcoin was stolen, and in 2017 the amount stolen exploded: $115 million was lost to phishing, $103 million to exploitation of software and storage, $7.4 million to hacks, and $4,000 to Ponzi schemes. That’s a lot of lost cryptocurrency—so how are criminals doing […]
Fintech – The evolution of modern financial technology in the 21st Century
Financial procedures have evolved drastically over the last 100 years. We have seen a huge change in how many aspects of finance are processed such as payments, investment, data storage and types of currency. A term that has sprung up in the last couple of decades and gained prominence is ‘Fintech’ – this articles details exactly what Fintech is, and why it is essential for the modern world. What is Fintech ? Fintech = financial technology This is the basic meaning. Fintech is much more than that however – it is any new type of innovative technology that competes with or precedes traditional financial methods; particularly the delivery of financial […]
These are the 12 cryptocurrencies fintech experts say will soar by the end of 2018
A group of fintech leaders say bitcoin will hit $38,000 by the end of 2018, but its 194% growth will be miniscule compared to rising cryptocurrency stars. Comparison site finder.com.au has just released the results of its March Cryptocurrency Predictions Survey, forecasting how the top 10 by market cap and top two trending cryptocurrencies will perform in 2018. Comparing the forecast market capitalisations, nine experts say the big three – bitcoin, bitcoin cash and ethereum – will experience modest growth by crypto standards: Bitcoin – +194% Bitcoin cash – +123% Ethereum – +212% But of the 12 coins reviewed, by far the biggest forecast came for Dogecoin, the digital currency […]
Paypal files patent for expedited cryptocurrency transaction system
A recent patent filing reveals that Paypal might be considering expanding its exposure to the cryptocurrency ecosystem with a new system for speedy transactions. We shouldn’t however expect a Paypal Lightning Network or anything close to that any time soon. There is currently a global race to file patents for everything crypto or “blockchain” related and the company might just be strengthening its portfolio for future patent battles. Expedited Cryptocurrency Transaction System Online payments provider Paypal has filed a new patent application for an “expedited virtual currency transaction system” with the US Patent and Trademark Office. The last time it was reported that the company filed a patent application related […]
Shining a spotlight on Australian digital currency tax laws
It comes without much surprise that taxation offices around the world are having to keep up with the growing trend of cryptocurrency and the tax implications that follow, writes Janya Eighani. Digital currency under Australian taxation law is a relatively new concept, and as it gains momentum, it is vital for cryptocurrency traders to keep up with regulations set out by the Australian Taxation Office (ATO). The situation in Australia Since the ATO released the Convenient Guidance Paper, the position stands that bitcoin and most cryptocurrencies are a form of property and are taxable. The ATO recently commented on the taxable nature of bitcoin, saying: “Any financial gains made from […]
More than 1,200 newsagents to offer Bitcoin, Ethereum buying service
From today Australians will be able to purchase Bitcoin and Ethereum in-store from more than 1,200 newsagents around the country. With a minimum purchase of $50, all customers need to purchase the digital currency is cash, a phone number and an email address. The service is being provided by cryptocurrency exchange bitcoin.com.au, which has been rolling out in-store Bitcoin buying infrastructure since the middle of 2016. Bitcoin.com.au CEO Rupert Hackett said the primary challenge of selling cryptocurrency within a physical retail store was gaining the trust of consumers. “When your product is totally digital it can be hard to gain trust from consumers because there’s no tangible product being handed […]
