Spencer Golden on Bitcoin Trading

Spencer Golden Shares his experience in Bitcoin Trading. Trading Bitcoin features statuary caution, sometimes from one’s very own instincts– and occasionally– from the governments’ empathetically composed circulars. The electronic gold has indeed swept a large area of global traders and investors towards its scrumptious– as well as high-risk– volatility. And as with any speculative market, Bitcoin has its shares of ills when it pertains to injecting nightmares inside the investors’ mind.

Yet if you are still interested, here is what you need to know prior to jumping in.

What is Bitcoin Market?
A market where Bitcoin gets proactively traded with various other value-carrying assets is, in basic words, a Bitcoin market. It resembles any other Forex exchange where one purchases a currency with an additional. But unlike fiat money, which are produced under the self-confidence of nations’ financial and also economic status, Bitcoin is created without keeping such influential factors in mind. The electronic currency is merely created with a procedure called “mining”, where miners concurrently fix a block of 50 BTC via mathematical calculations. The produced Bitcoins are either stored or are further offered to the controlled exchanges or individuals for fiat loan.

The functioning of a Bitcoin market is like that of some product (coffee, gold, etc.) that is brewed/mined and offered right into the markets, its cost fluctuating as per the need and supply.

Where Do You Trade Bitcoin?
For us non-miners, getting Bitcoin is currently simpler than it was a year ago. Now, one only needs to be in an ideal nation to purchase and sell Bitcoins, where exchanges lawfully function as middlemans for money deals– something that also secures your funds from being mishandled by external and also interior attacks. These exchanges instantly convert your Bitcoin into USD or other fiat money, as well as based upon the price variations in between these two, one can simultaneously sell and also acquire their holdings and make good earnings– a process we understand as arbitrage (described further below).

Points Required to Trade Bitcoin.
Bitcoin Exchange Account.

All you need to do is find a trusted Bitcoin exchange, subscribe as well as give the needed individual information– it would just make you eligible to acquire and also sell Bitcoin straight from/to the markets.

Speaking of the individual details, you require to find out about a certain KYC and also AML requirement prior to registering. According to some recent regulatory frameworks, the governments have asked Bitcoin exchanges to follow specific identification treatments (similar to those practiced by banks) where an individual is required to send their secret information. These measures are taken to make certain that customers do not use Bitcoin for anti-social activities such as loan laundering, funding terrorism, medicine trafficking, and so on

. Trusted Bitcoin Exchange.

We suggest you to go across check Bitcoin exchanges with their city government authorities, prior to signing in. Do check whether the Bitcoin Exchange is totally complied with the policies and whether they are regulated or otherwise; also examine whether it has actually been involved in any kind of harmful and also dishonest activity prior to or otherwise. You may additionally choose to read independent evaluations, available online before making any type of choice. We advise http://bitcoinexchangeguide.com.

Some Forex Trading Understanding.
There will certainly be risks, and there will certainly be benefits– all you would need to be is, a mindful trading expert to stay clear of the former, and bring in the last. We would certainly for that reason advise you to discover a little bit about Forex strategies and indications– so as to predict the possible rate actions prior to making any profession. You might likewise select to check out NewsBTC daily Bitcoin cost updates.

We are nonetheless supplying you with a fundamental glossary that would certainly help you understand the Forex language a little bit. Below it is:.

Ask Rate: It is the minimal price at which people in a certain trading site are willing to sell their Bitcoins.

Quote Cost: It is the most you agree to pay for the Bitcoins.

Volume of Trading Site: It is the number of monetary devices offered during a provided duration.

Market Deepness: It is the variety of Bitcoins that individuals have actually put up for sale on a trading website, and also have actually not yet been acquired (therefore much, no person is willing to pay the cost).

Speculator: It is somebody that is attempting to earn a profit by buying Bitcoins at a small cost and also selling at a higher one.

Arbitration: It is the activity whereby you try to make a profit by making the most of the distinction in rate that may exist in between the various trading websites.

High Regularity Trading: It is the task where you attempt to make a profit by forecasting price motions in the short term.

Bubble: It takes place when, for one reason or another, an increased need for Bitcoins takes place; hence, the cost skyrockets and drops eventually because of the lack of “structure” for this need. This has actually occurred between the December 2013 and February 2104.

Margin Trading: It is a risky kind of supposition in which Bitcoins are traded making use of borrowed cash. This enables greater profit margins, yet in danger of forced liquidation.

Leverage Trading: Is a kind of trading on the underlying product, or agreement for difference allowing you to trade greater than your first investment.
Some bitcoin brokerage firms supply 20-1 leverage.

Precautions and Risks.
Financial investment Threats.

As we specified at the beginning of this write-up, Bitcoin financial investments are undoubtedly high-risk as well as not for the weak stomachs. You really need to make sure enough before actioning in.

A huge part of this threat is credited to Bitcoins’ non-traditional price changes. Unlike the fiat markets, where variations are restricted to a few pennies, Bitcoin sees distinctions in whole dollar amounts. It can be perfectly shown in Bitcoin’s fall from some $1,000 to the current $225. Investors nonetheless think that the electronic currency was in a speculative state where it suffered a lot of adjustments from bad actors. With expanding fostering, this manipulative strategies are being reduced as well as Bitcoin is obtaining a steady worth. With stable, they indicate a $10-20 change on a bad day.

To prevent such volatilities, we recommend investors to short their funds on the very first chance. A tiny reward is still far better than a maximum loss.

Budget Protection.

Another element that sends out shivers down the Bitcoin market is continuous attempts to hack the Bitcoin exchanges’ hot budgets. The interested instance of Mt.Gox has actually been the largest example, where a $450 million well worth of Bitcoin amount was swiped. Later, several other exchanges came to be sufferer to the comparable burglaries, including BitStamp, BitFinex and lots of others.

It is for that reason recommended to just maintain the minimal minimum requisite fund on your exchange’s hot wallet, while maintaining the remainder offline in a chilly pocketbook. To learn the rate of Bitcoin ,you could use Spencer P Golden Bitcoin App.

Hacker selling 26M stolen user records in exchange for $5,000 worth of Bitcoin

A hacker by the name of Gnosticplayers is trying to sell more than 26 million user records on the dark web in exchange for $5,000 worth of Bitcoin (1.2431 BTC). This is the fourth data dump posted on Dream Market – an online darknet marketplace founded in late 2013 – by the hacker, who previously put up more than 840 million user records since mid-February. The new data dump includes files from six new companies including Indonesian e-commerce unicorn Bukalapak, which as of last year had more than 50 million users and processed half a million transactions per day. Other affected businesses include GameSalad, a game development platform; Estante Virtual, a Brazilian book store; Coubic, an online task manager, Notebook app LifeBear; and YouthManual, an Indonesian student career site. Coubic told ZDNet it was looking into the breach. LifeBear said “most likely” its servers were hacked, but added it was still investigating. Previously, Gnosticplayers had uploaded the data for 32 companies in three different dumps. Affected businesses included Dubsmash, MyFitnessPal, and Fotolog. The hacker said the data was put up for sale because the breached companies had failed to adequately protect passwords with strong encryption algorithms. “I got upset because I feel no one is learning,” Gnosticplayers told ZDNet. “I just felt upset at this particular moment, because seeing this lack of security in 2019 is making me angry.” It’s certainly not the first time stolen data appears for sale on the dark web in exchange for Bitcoin, BTC and although this is just one of the cryptocurrency’s many use cases, it’s likely to contribute to its widely reported branding problem while also helping to fan the “blockchain good, Bitcoin bad” rhetoric. Want to find out more about cryptocurrencies and blockchain technology? Check out our Hard Fork track at TNW 2019! Published March 19, 2019 — 10:33 UTC Yessi Bello Perez March 19,
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Why did the chicken cross the road? To get fed by blockchain

It’s a cold, wet, and windy day in mid-January. You hear the knocking of the shutters against the window pane as you roll over in bed trying to find some warmth. Looking at the clock that’s been handed down four generations in your family you see it’s still not even four in the morning. You realise it’s time to feed the chickens. As you rise from your stupor you think to yourself, “this would be so much easier if I could do this with the blockchain.” Well my friend, now you can! With Pollofeed.com. No more do you have to brave the cold in winter. All you have to do is fire up your Lightning Wallet and send the paltry sum of 1,000 Satoshis to Pollofeed via the Lightning Network and it will feed the chickens for you. It’s finally starting to feel like Bitcoin is getting useful, real-world use cases. But it’s not just chickens that are getting their claws on Bitcoin. Satoshi’s world recently launched an augmented reality type game which let people graffitti over a Google Maps feed all in exchange for some Satoshis. Someone even took the opportunity to write “Bitcoin” on the White House. Dutch hacker Roeland P Lanparty recently put a child’s Lego train on the STEEM blockchain and it would make a “choo-choo” sound everytime a block is signed. The Lightning Network, designed for high-speed low-value payments, has become quite the focus for blockchain developers. Devs are putting everything from candy machines, Coca-Cola, roulette, and even Pokémon on the blockchain courtesy of the Lightning Network. H/T – Alistair Milne Published February 22, 2019 — 13:25 UTC Matthew Beedham February 22, 2019 — 13:25 UTC
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Transparency In The Cryptocurrency Ecosystem with James Giancotti

As the CEO of Oddup, James Giancotti looks at everything with a rating in mind. So, how does the man who rates startups for a living view the current state of cryptocurrency? It should come as no surprise that he looks at cryptocurrency like startups. “Ninety percent will fail and maybe 10% will get your money back, and then 2 or 3% will just be superstars,” Giancotti said. “Most of those cryptocurrencies that launched in the last 12 to 18 months, most of them are crap. I say this because, if I put my startup rating hat on, I go, ‘Wow, I’ve never seen any major startups come out of Slovakia or Slovenia, but they’ve raised $40 million—why?’ That said, the technology is a game-changer.” Despite the negative press, cryptocurrency is still an attractive asset class. Giancotti says many investors are putting 0.5 to 1% of their net worth in cryptocurrency, typically the top three: Bitcoin, Ether, and XRP. He doesn’t see that trend changing. “If you can put $50,000 in a startup or buy 10 BTC, you’ve probably got a better chance of getting some liquidity from BTC than you have with the startup,” Giancotti said. Giancotti also sees the market becoming more serious. Some of the brightest people he worked with at JP Morgan and Goldman Sachs have gone into blockchain funds.  Giancotti lays out a simple reason why: the future will be shaped by blockchain. These trends—and their customers’ demands—motivated the Oddup team to launch Alluva, a blockchain product that quantitatively and qualitatively rates cryptocurrencies, ICOs, and STOs by using a contributor-model that rewards users for correct calls. “Crypto is much different than the startup environment,” Giancotti explained. “Startups usually have 50 or fewer shareholders. There’s limited information. With Oddup, we have multiple analysts and data scientists
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The Vilest Phishing Method, Sextortion, Often Snares Victims Using Fake Security Alerts

Photo: GettyIt’s embarrassing, so few employees tend to report it, but a type of phishing attack known as sextortion is becoming increasingly common at workplaces, according to one security company’s recent analysis. To get the attention of users, many of these threatening messages are initially disguised as legitimate security warnings.These type of scams are carried out by criminals who claim to have stolen compromising material from their intended victim’s device and usually involve a threat to release it unless they pay up. Sometimes they claim to have seized control of a victim’s webcam, or imply that they’ve infiltrated their accounts and discovered some batch of salacious material. More often than not, the claims are bogus. The FBI’s definition of sextortion also extends to attackers who demand sexual images or favors instead of money. (Bitcoin, of course, continues to be the favorite form of payment for this specific category of lowlife.) But regardless of whether they’re bogus or not, few users want to report such threats up the chain, because, well, people do in fact do things in front of computers that they’d prefer not to discuss with their bosses or their company’s IT department. (Yes, we mean sex stuff.) Either way, the fear of being publicly humiliated is certainly real—and one of life’s great motivators. Attackers understand that many potential victims will ultimately decide not to gamble with the possibility of being exposed and having their family, neighbors, and coworkers see something that cannot be unseen. Instead, they’ll just quickly cough up some cash.It’s vile, but also pretty lucrative apparently. So it’s unlikely this type of scam is going away anytime soon. New research from the security firm Barracuda offers some insight into various techniques used by sextortionists to trick and pressure their victims into compliance. In an analysis of
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Experts finally cracked the laptop of the crypto CEO who died with sole access to $137 million. But the money was already gone

Jacob T. Swinney/Vimeo Millions of dollars were missing when the CEO of a crypto exchange died without sharing the passwords to his accounts. Investigators, who have secured his laptop and other devices, have revealed the money is gone. Gerald Cotten, the founder of QuadrigaCX, was thought to have had sole access to the funds and coins exchanged on it. After his death in December, his colleagues said that about $137 million in cryptocurrency belonging to about 115,000 customers was held offline in “cold storage” and inaccessible. The case has sparked numerous theories, including that Cotten faked his own death and ran off with the cash. A court-appointed auditor, Ernst & Young, has secured Cotten’s laptop, home computer, USB keys and home computer. Using public blockchain records, it determined the digital wallets thought to contain millions were emptied in April, eight months before Cotten’s death, it said in a report last week. “In April 2018, the remaining bitcoin in the Identified Bitcoin Cold Wallets was transferred out bringing the balances down to nil,” the report said. The investigators said they found other issues too, such as that Quadriga kept “limited books and records” and never reported its financials. Ernst & Young also reported that 14 user accounts were internally created under various aliases, traded on Quadriga’s exchange, and withdrew cryptocurrency to addresses not tied to Quadriga. Burdened with $190 million in debt and unable to find or access the money, Quadriga filed for creditor protection in late January. A Nova Scotia court threw the company a lifeline this week, granting it a 45-day extension that prevents creditors from filing lawsuits against it until mid-April. Kraken, another crypto exchange, is offering $100,000 for information on where Quadriga’s cash has gone. A previous version of this story incorrectly stated that investigators cracked Cotten’s
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Fixing the financial literacy gap will attract more women to Bitcoin

The blockchain and cryptocurrency industry is dominated by men – fact. There are many reasons as to why this could be the case – namely a pipeline problem or the rhetoric that men are typically (and allegedly!) more interested in technology – but a recent study has posed an interesting question. What if the cryptocurrency industry’s lack of diversity was down to women being less financially literate than men? Perhaps there is more to cryptocurrency’s diversity problem than women simply not being interested in the technology. The findings The study documented a significant gender gap in Bitcoin BTC literacy in the US, suggesting that women’s knowledge about the cryptocurrency is lower than that of men.   Socio-demographics and personality traits, the study says, only explain part of the gap. Actual and perceived financial literacy, however, accounts for around 40 percent of the gender gap in Bitcoin literacy. Overall, the report notes that closing gender gaps in financial literacy is important, but protecting financial wellbeing in increasingly digital financial systems is even more complicated. Unequal access to the financial system On another note, a study released by cryptocurrency exchange Coinbase today revealed some interesting insights. The company surveyed more than 6,000 adults in the UK and US. Some 82 percent of women surveyed across all age ranges and education levels in the US and the UK — compared to 65 percent of men — think financial independence for women is very important. But nearly one-third of college-educated females surveyed said they didn’t think they had equal access to the financial system in their own country. Coinbase’s survey found that 39 percent of millennial women would be interested in cryptocurrency if they knew it could make finance more accessible. Another report showed that 77 percent of affluent millennials in the US believe the
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Quadriga management ‘error’ the cause of recent cryptocurrency transfer, Ernst & Young says – The Globe and Mail

Published February 21, 2019 Updated February 21, 2019 The court-appointed monitor overseeing the search for millions of dollars lost by a Canadian cryptocurrency exchange says an additional $500,000 worth of bitcoin was transferred earlier this month as a result of a company “error.” On Feb. 6, the day after the Nova Scotia Supreme Court granted QuadrigaCX creditor protection and appointed Ernst & Young as monitor, the beleaguered cryptocurrency trading platform inadvertently transferred roughly 104 bitcoins to cold storage wallets it cannot access, according to a report filed with the court. Cold wallets are offline storage facilities where cryptocurrency is typically held to protect it from hackers. Now, in a report released on Thursday, Ernst & Young says it was told by Quadriga’s management that the company mistakenly changed a setting on the platform that triggered an automatic transfer of bitcoin from the company’s “hot” wallets – those accessible online – to its cold wallets. Story continues below advertisement “The Monitor understands from Management that the inadvertent transfer occurred due to a platform setting error by [Quadriga] …” the report reads. “The Monitor has viewed the wallet addresses that received the cryptocurrency as a result of the setting change and has confirmed that the transfers occurred at the time noted by Management and that the Quadriga cold wallets continue to hold approximately 104 bitcoins.” Read more How did QuadrigaCX work? A guide to complicated crypto trading How did Gerald Cotten die? A Quadriga mystery, from India to Canada and back Crypto chaos: From Vancouver to Halifax, tracing the mystery of Quadriga’s missing millions The company has said it has been unable to access its cold wallet storage since the death of chief executive Gerald Cotten, who, according to his widow, Jennifer Robertson, was the only one able to do so. The
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QuadrigaCX mystery deepens after cryptocurrency cold wallets found empty

Following weeks of speculation, QuadrigaCX’s court-appointed auditor has finally revealed the addresses for the struggling cryptocurrency exchange’s offline Bitcoin wallets. According to EY, which published its third report into the investigation on Friday, the cold storage wallets are empty – aside from a transfer of $400,000 worth in Bitcoin which was inadvertently sent last month – meaning $100 million in user funds continues to be unaccounted for. The news comes after the exchange said in January that it owed customers approximately $134 million worth of cryptocurrency. At the time, the exchange noted it had lost access to the funds as a result of its founder Gerald Cotten’s sudden passing, claiming the majority of the holdings were kept offline, in cold storage, and only Cotten knew the private keys to the accounts. A crash course in QuadrigaCX QuadrigaCX was one of Canada’s biggest cryptocurrency exchanges. It made headlines all over the globe after the reported sudden death of its founder resulted in the loss of $134 million of users’ funds. Cotten’s death followed on from months of complaints about banking issues, with some of the platform’s customers describing problems with fiat and crypto withdrawals. Bearing in mind other cryptocurrency scandals such as Mt. Gox, Cotten’s passing exacerbated concerns about the exchange‘s solvency or potential wrongdoing. The investigation is finally taking shape The latest details provided by EY prove significant because neither the auditor nor the exchange had released information about the Bitcoin cold wallet addresses up until now, fanning speculation about their existence. As part of its investigation into the QuadrigaCX mystery, EY has now identified six addresses. The majority of these were previously discovered by independent researchers after QuadrigaCX made the aforementioned $400,000 transfer in what it deemed was a “platform setting error.”  As of Friday afternoon, the total balance in
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Canada’s tax agency asks cryptocurrency investors for 10 year trading history

Canada’s tax agency is reportedly cracking down on cryptocurrency investors in the country. Multiple sources have confirmed that cryptocurrency holders have been targeted with audits by the Canada Revenue Agency (CRA), according to Forbes. The agency is thought to have sent questionnaires probing investors about their bitcoin-related activity over the past decade. Today’s news comes after scammers posing as the CRA contacted unsuspecting civilians to demand tax payments in Bitcoin last year. A struggle Due to the fact that they’re unregulated, governments have found it notoriously difficult to tax cryptocurrencies. In fact, Canada is not the first country to launch such a probe.  In the US, the International Revenue Service (IRS) demanded that Coinbase turn over vast amounts of user data last year.  However, Coinbase was able to fight the decision in court and limited the scope of the data collected by the tax agency. Over in Australia, ‘big four’ accountancy firm KPMG launched a “Crypto Tax Estimator” to help Australian hodlers figure out how much tax they could owe based on their trading gains. More recently, fellow accountancy giant EY launched a similar tool, although it’s only currently available for institutional investors. Want more blockchain news? Come to TNW2019, our tech conference in Amsterdam, and check out our Hard Fork track. Published March 7, 2019 — 17:14 UTC Yessi Bello Perez March 7, 2019 — 17:14 UTC
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FCA: Cryptocurrency noobs still buy Bitcoin without understanding it

It’s been 10 years since Bitcoin and its underlying blockchain first emerged, but it seems consumers are still largely uninformed about the inner workings of the technology. Today, the UK’s Financial Conduct Authority (FCA) released two pieces of research – qualitative interviews and a national survey – looking at consumer’s attitudes towards crypto-assets, and found that most people still don’t fully understand what they’re buying. Even worse: hardly anyone does any actual research before investing. Anecdotal findings from the qualitative research found that several consumers spoke about wanting to purchase a whole coin, not realising they could own a fraction of a cryptocurrency. Despite failing to fully grasp the concept, many of those surveyed said they were looking for ways in which to “get rich quick”. They cited social media influencers, friends, and acquaintances as the key decisive motivators for investing in cryptocurrencies.   The survey responses also shed some light on the overall level of awareness among UK consumers. Some 73 percent of respondents said they didn’t know what a cryptocurrency was or were unable to define it. As expected, those most aware were likely to be men aged between 20 and 44. The FCA estimates that only 3 percent of consumers surveyed had bought crypto assets, with around half of these spending under $262 (£200); a large majority said they had funded their purchases using their disposable income. Unsurprisingly, Bitcoin BTC seemed to be the most popular cryptocurrency among consumers, with more than 50 percent of crypto-holders reporting to have spent their money on this product. Only one in three (34 percent) chose Ethereum. The findings generally fall in line with widely held assumptions about the industry: it’s still niche, Bitcoin remains the most well-known, and popular, cryptocurrency, and most consumers are dipping their toes in the cryptocurrency industry
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