Cryptocurrency News - User Information
Bitcoin and other digital asset rates are greatly influenced by news in the world of cryptocurrencies - both changes in the blockchain industry itself and political and economic events. By showing interest in all of the above, traders and investors will be able to manage their crypto assets much more efficiently. Well, our site will only contribute to this by providing relevant information from leading experts from reputable publications. By adding this page to your bookmarks, you will be aware of all current trends and events that can affect a specific electronic coin and the industry as a whole.
In fact, almost every hour, the Internet gets information about a variety of incidents - atypical fluctuations in the rates of Bitcoin and alternative cryptocurrencies, the adoption by the government of a country of a law on the regulation of the activities of exchange offices, and much more. It would seem that does the rise in price of electricity in one of the provinces of China have anything to do with the price of cryptocurrency, but if you think about it, it’s quite something for itself. Entire warehouses with mining farms are located in regions with cheap electricity to make coin mining more profitable, and such changes can hit them hard. By tracking the news of cryptocurrencies online, investors get the opportunity to react in time, protect themselves and even make money.
Read more about cryptocurrencies and their history
The world first heard the term “cryptocurrency” back in 2009. He owes his fame to the emergence of the Bitcoin payment system, which was the first successful experiment in the field of new generation digital calculation tools. This continued until July 2013, after which new platforms began to form, which became even more technological and multifunctional.
In simple words, cryptocurrency is a virtual money based on cryptography methods. Their basic principles are security, decentralization and anonymity, which often are not able to guarantee the usual methods of calculation. To date, the number of cryptocurrencies launched in circulation has exceeded 1000, but most are not in great demand. Bitcoin continues to be at the head of the top. Other cryptocurrencies show more modest statistics and often show dependence on the market leader. One way or another, e-currencies predict a great future. Experts emphasize the fact that the number of types of cryptocurrencies will continue to increase, exactly as their price in US dollars (the potential of the same BTC implies an increase of up to $ 100 thousand per coin under ideal conditions).
To date, in most countries, cryptocurrency is not an officially approved payment instrument, but several exception countries have legalized it. It is noteworthy that in the CIS countries this issue is still being considered. The main advantage of online money is that it is independent of other rates and does not apply to a specific geographical object, that is, to some extent they are universal world currencies. The use of such a calculation system is voluntary, since an open generation algorithm is used.
Advantages and disadvantages of cryptocurrencies
Like any other means of payment, cryptocurrencies have their negative and positive sides. Positive points, in fact, we already casually mentioned earlier - these are the basic principles of any cryptographic systems:
- Low exposure to inflation. Whereas in the case of fiat money, all the control levers of which are in the hands of the state apparatus, no one is immune from a sharp depreciation of their savings (for example, if it is decided to print another impressive amount of rubles and put them into circulation), crypto users know the amount in advance emitted by the creators of coins and other nuances.
- Anonymity and decentralization. Thanks to the network device, which does not have a main node - a server, it is almost impossible to track transfers, as well as the location and other information about the participants in the transaction. The fact that when making payments does not involve personal data is encouraging. For the subject, this is a definite plus, but a state that requires control over the money circulation within its administrative borders can do nothing.
- The ability to act as the issuer of the currency yourself, using the computing power of the PC (this process is called mining). It’s hard to imagine, but cryptocurrency is credited to your account through mathematical calculations of blocks that are fully automated. For mining Bitcoins, you may need a high-power video card or a special “farm”. You can also connect to the cloud service, where you can rent equipment for money.
There are also negative aspects in working with cryptocurrencies, but few will encounter most of them, subject to certain safety rules:
- Firstly, you can lose the password from your wallet account due to your own carelessness, as well as become a victim of crackers. Precedents are not numerous, but still there was a place to be.
- Secondly, nothing is clear with the status of cryptocurrencies in the legal field. Some states adopted the new technology and even began to look for ways to introduce it, while others either have not yet decided, or even forbade such calculations.
There is also a feature of the cryptocurrency market that can be interpreted as an advantage and a disadvantage. We are talking about a fairly high volatility - the price charts of various digital assets fluctuate very much, which opens up great opportunities for earning on various kinds of speculation. On the other hand, without catching the current, you can suffer losses, which is why for many people cryptocurrency is a kind of lottery. Having invested real money, they wait and hope: will this innovation shoot or will it be condemned and crushed by existing money systems.
How blockchain and cryptocurrency news can help make money
Everything is very simple. Since the cryptocurrency market is unusually active and flexible, even the most insignificant news can affect the rate of a particular token or the value of all coins at once - both in a positive and negative way. For example, a well-known cryptocurrency exchange was hacked by hackers and stole personal information of its users, or some negative came up about the creators of the project - accusations of fraud, etc. This is quite enough to greatly draw down the cost of a coin related to the resource. Or the opposite situation - the government of a country legalized electronic payments in the crypt and even announced plans to introduce it into its economy. This news will definitely have a beneficial effect on the cost of leading coins.
Accordingly, a person who knows how to read and competently analyze cryptocurrency news gets unlimited opportunities in terms of increasing his wealth. He can profitably invest his funds, catching the prerequisites for the price increase of the selected asset, or skim the cream at a short distance, playing on price fluctuations. One of the most popular and effective ways is to earn money on arbitrage of cryptocurrencies: when a trader, using the difference in exchange rates on different cryptocurrency exchanges, buys a coin cheaper and resells it, but already a little more expensive. To make money on arbitration, and not lose your money, you need to have an idea of some of the nuances.
- The transaction must be started with an amount from 500-1000 US dollars on the balance, otherwise trading will be unprofitable.
- It is most reasonable to pay attention to altcoins, and not to Bitcoin or other top coins, since it is much easier to make money on fluctuations in the prices of alternative assets.
- Before conducting transactions, first everything should be counted on a calculator.
Why do I need to have at least 500-1000 US dollars? Suppose, on a Bitcoin exchange, it costs 10 thousand USD, and on another the price is 10 100. In the case of a purchase in the amount of 500-1000, the transaction may be with a zero profit or loss of about 5 US dollars. The fact is that some exchanges charge a small percentage for a transaction, and many withdraw from 5 to 10 US dollars for withdrawing funds from a cryptocurrency exchange. Then everything is easily calculated on a calculator.
As an example, consider three transactions with different amounts:
- Bitcoin was bought for 10,000, then sold at a profit of 100. $ 10 should be subtracted from this amount (withdrawal from two exchanges). It turns out $ 90 profit.
- 0.1 Bitcoin purchased for $ 1,000 at a price of 10,000 per bitcoin. Sold for 10 100 (profit is 10 dollars, minus 10 for withdrawing funds). As a result, the starting thousand will remain on the account of the trader.
- Purchased 0.05 Bitcoin. profit of $ 5 minus ten dollars for withdrawal from the exchange. The loss is equal to 5 US dollars.
The conclusion is obvious, trading Bitcoin or its expensive counterparts, having less than $ 2,000, does not make sense. But with small amounts perfectly coexists a lot of different altcoins. And absolutely anyone can earn. You just need to register on several trading floors, have an initial capital of several hundred dollars and monitor the latest cryptocurrency news in order to have an idea of the upcoming changes in exchange rates and the economic / political situation.
Working with such an unstable financial instrument as cryptocurrency is always fraught with increased risk. A person can both significantly enrich and lose a decent part of his savings due to inept management of funds on the exchange or unfulfilled hopes. You don’t have to go far for examples - back in 2018, when Bitcoin had all conceivable and unimaginable value records, netizens who realized it too late began to buy coins at an impressive price (and some even issued decent amounts of credit at the bank for these purposes). Imagine their disappointment when several leading market players poured huge reserves of coins, which caused panic in the market and coins depreciated several times. Although, if investors were tracking cryptocurrency news in the world today,
But even leading analysts and financial publications are not always worth trusting. Extremely volatile and unstable cryptocurrency market often reacts to various news quite differently than common sense suggests. Therefore, before making any investment, exchange or other financial transaction, you should independently weigh all the risks, prioritize and determine whether it is worth taking any actions in the current situation. The administration of our site takes the latest cryptocurrency news from the most reliable sources, providing this information for informational purposes. The information posted on the page is not a direct guide to action and may well have some discrepancies with the real market situation that arose due to the subjectivity of a news publication.
All of the above allows us to conclude that cryptocurrency news for today and even information about the events of a week / month ago can provide invaluable assistance to all those who are somehow connected with the new generation electronic currencies. Investors will be able to find promising objects for long-term investments, it will be much easier for traders to speculate on short-term fluctuations in rates. Even simple network users who use the crypto simply as a way to efficiently pay other people on the Internet (for example, make an anonymous transfer from one country to another with a minimum commission), it is sometimes useful to know about the situation around a particular payment instrument. And this applies not only to cryptocurrencies, but also to other monetary units.