#Bitcoin Most bullish bitcoin news of 2019: Fidelity to launch Bitcoin Custody Service. Published 3 weeks ago on January 30, 2019 By Layla Harding Share Tweet Crypto space has visited various things in the last few months. The crisis in 2018, the entry of institutional money into this space, Bitcoin Lightning Network, Bakkt etc were some of the news that shaken this industry. While some investors take back their investment from the crypto space, new firms entered. Some of them are largely opposed whereas there are some of them are completely bullish in the field. If we talk about the most bullish bitcoin news in 2019, one news that comes first in our mind is the news of the launch of bitcoin custody service by Fidelity in March 2019. In this article, we will firstly brief about this news and then we will argue how this news is the most bullish news of 2019. What the Fidelity news is all about? Fidelity, also known as Fidelity Investments Incorporation is a Boston based multinational financial service organization. In October 2018, Fidelity announced that it would be launching several crypto products. Further, it was added that these products will be only for large investors such that of Hedge Funds. This news was normal but after some days some bullish addition to this news came into focus. It was revealed that the first product that will be launched in March 2019 would be a bitcoin storage product. According to the news, the firm is aiming to launch its Bitcoin custody service in March 2019. This product as per the firm is a move to reduce the fear of cryptocurrencies among large investors. Further, it was revealed that the next product after this launch will be ethereum custody service. According to the officials, the firm was aiming to serve some selected clients only at the initial phase. This information was completely like the catalyst in this space. How the news is the most bullish bitcoin news of 2019? First of all, let us have a deep understanding of the news. As per Fidelity, the product to be launched in 2019 will dedicate to bitcoin custody service. Custody service if we understand in normal finance, is a common practice which involves third party services which hold securities to minimize the risk of being stolen or lost. It is widely used in stocks as well as bond markets. However, some govt. doesn’t support this service as a possible security breach. Now, Fidelity aims to implement the same into the cryptocurrency industry. It wants to use its name and faith of people of its core performance. However, it seems completely feasible. There was a need of such service in this sector. Without any doubt, the idea is appreciable as thousand of theft news of cryptocurrencies are seen and it is aiming to handle and reduce such kind of risks from crypto space. 1. First of all, we need to understand the need for such service in the crypto market. The transactions are not physical here. Also, the currencies have completely different properties here. They are digital, not cash or normal currency. These things make it almost feasible to recover if someone steals the vulnerable value of your cryptocurrencies. Thus, the market was in need to have a faithful service provider in this concern for a long time. 2. Two of the ever faced challenges to the crypto space are scalability and security. These two factors are dependent on each other. If we increase the scalability, there are changes in the decrease in security. Similarly, if we try to increase the in-built security in this network, the scalability goes down. So, the perfect solution was to have a third party who can manage this security. Thus it will serve as a solution for both, directly for security as well as indirectly for scalability. 3. After the crisis of last year, crypto space needed some excellent features and support to it to regain its desired position. While the introduction of Bakkt, the launching of Lightening Network etc ignited the market, this feature is surely going to help cryptocurrencies rising their values. Security and no fear of being stolen the cryptocurrencies will attract more and more investors thus eventually leading to a fruitful step for cryptocurrencies and their future in the market in this year 4. Apart from that, we all know that cryptocurrencies are undergoing a transition to a different consensus algorithm. They are moving from proof-of-work (POW) to proof-of-stake (POS). These make the stake more vulnerable. If someone steals your coins, you will lose all your coin as well as position in the crypto space in this consensus algorithm (POW). This certainly makes the essential need of such service in the space to secure the stake in this market. We discussed how the news of the launch of bitcoin custody service by Fidelity in March 2019 is complete bullish. The crypto space was in search for some trusted and big organization who can provide security in this market and then come to Fidelity. This service completely seems feasible with the current scenario and market conditions in the crypto space. Related Topics:BakktBitcoin 2019Bitcoin Custody Servicebitcoin futurebitcoin lightning networkbitcoin newsbitcoin news 2019bitcoin predictionBitcoin predictionsBlockchainbtcbtc custody servicecryptocurrencyFidelityFidelity Bitcoin Custody ServiceFidelity Investments IncorporationLightning network Up Next Financial Freedom for Iran: Bitcoin, Crypto and Iranian Digital Rial Don't Miss Ripple Price Analysis: XRP going to fly high? Continue Reading You may like German’s Giant Derivatives Exchange to launch BTC, ETH and XRP futures. STO: Thailand set to legalize Security Token Offerings Bitconnect Scam: How to receive $2.5 Billion Refund from FBI? Bakkt: How will it affect Bitcoin Price? BTC to the moon? Alert: CME Bitcoin Futures Experiencing Record Breaking Volumes Brief: How do smart contracts work? 1 Comment 1 Comment Pingback: Most bullish bitcoin news of 2019: Fidelity to launch Bitcoin Custody Service. - Satoshiuncle Leave a Reply Cancel reply Your email address will not be published. Required fields are marked *Comment Name * Email * Website #Bitcoin Alert: CME Bitcoin Futures Experiencing Record Breaking Volumes Published 23 hours ago on February 22, 2019 By Nadja Eriksson These days saw the highest and rapid increase ever for Bitcoin futures on the Chicago Mercantile Exchange as the amount exceeded 18,000. Institutional investors are paying attention to this as the bitcoin future contracts get snapped up at an ever-increasing rate. Record of BTC Contract Size on CME: As per the stats of CME they were 18,338 on Wednesday, which is the highest figure ever recorded till now. This is equivalent to 91,690 Bitcoins or roughly $365 million at today’s prices. Upcoming contracts enable explorers to bet on the prices rather than to purchase the physical assets. So these figures might be a little misleading. When the new product which offers the physically settled contracts hit the market, they will be paying out in BTC which will drive tremendous momentum for crypto markets. Over the past year or so the expectation of a crypto Exchange Traded Fund (ETF) being launched has been telecasted and dominated the news. The year 2018, has been the year of regulation and cooling off which was only to be expected after the previous year of rampant FOMO and parabolic market action. This year 2019, is expected to be different as many industry experts predict the launch of at least one institutional investment vehicle. As per the Block European exchange giant, Eurex is preparing to launch crypto and bitcoin futures so the list of institutional offerings is increasing rapidly. The cognate exchange is operated by Germany’s Deutsche Börse, which will be offering Bitcoin, Ethereum and XRP imminently according to the report. Exchange traded funds are the future: In addition to these future products, there is already one type of Exchange Traded Funds that are actually traded through an ETN (exchange-traded note) which allows investors to get direct exposure to Bitcoin prices. The Grayscale Bitcoin Trust (GBTC) crosses the technicalities of buying and storing Bitcoin but still allows investors to get into the action by buying shares that trade at around a thousandth of the price of BTC. GBTC has been highly popular with over $800 million which is already invested in the Bitcoin fund. Furthermore, Bitcoin is the most popular. The fund eliminates the volatility of buying and owning Bitcoin directly which is something that institutions want. Continue Reading #Bitcoin Elon Musk: Cryptocurrency is the future, Paper Currency going to end. Published 3 days ago on February 20, 2019 By Nadja Eriksson Enthusiastic towards cryptocurrency also the CEO of Tesla, Elon Musk, stated that the Day is not far when the paper currency will fade away and shall be replaced by the Bitcoin. Which clearly means Musk is in favor of the decentralized currency ( also known as cryptocurrency). In one of the episodes of ‘On The Road To Full Autonomy With Elon Musk, which is hosted by Tasha Keeney, the CEO spoke and discussed the developments that Tesla shall undergo and also spoke about the cryptocurrency with regard the future of technology and finance. When Elon Musk was asked regarding Jack Dorsey’s prediction, which was that the Internet shall be witnessing Bitcoin as its native currency soon, Elon Musk answered it and found it interesting. He further said that the idea and also the structure of the Bitcoin is great and it seems like there is some advantage to Ethereum. Elon Musk is not sure whether it will be good for Tesla resources to get into cryptocurrency. Elon Musk also said that Bitcoin and Ethereum scammers were so rampant on Twitter, he decided to join in and He said at one point that he wants to buy some Bitcoin. Then his account got suspended cause obviously there was some automatic rule, he then ended the conversation by saying that he was just joking. A campaign was started by Twitter which deleted several bogus accounts for “coordinated manipulation,” and promotion of cryptocurrency scams, Elon Musk appreciated the website’s efforts. Elon Musk added that the disadvantage of cryptocurrency is that the nature of production is energy intensive as regards to the mining process. Keeney referenced to the terrible financial condition in Africa, where the restrictions on the currency stop the citizens from converting their currencies and forcing them to go through the US dollar. To which Musk replied that cryptocurrency is a far better way to transfer money or value rather than pieces of paper. Paper money is going away. Even after Elon Musk’s positive statement on cryptocurrencies, his recognition for the structure and concept of Bitcoin and Ethereum and his confirmation that paper money will be replaced by the decentralized currency, the Tesla CEO made it clear that his company will not be selling Bitcoins. Continue Reading #Bitcoin Tim Draper: Bitcoin Mass Adoption till 2021 Published 3 days ago on February 20, 2019 By Layla Harding Bitcoin is considered as digital gold or e-gold which has achieved dominance in the field of cryptocurrency. Tim Draper, who is the inventor of the Billionaire Bitcoin, predicted the rapid increase in the growth of the Bitcoin or cryptocurrency in the world and said in an interview with the FOX Business on 18th Day of February 2019 that the world will soon start buying coffee by using Bitcoin. According to his prediction, the world is just 2 years away from when everybody shall start to use Bitcoin. By 2023, Baristas would be laughing at people who shall make the payment of their purchase by using the currency other than the Bitcoin, Tim Draper added. Even after having a large number of Bitcoins, Tim Draper has no plan to trade or sell any of his Bitcoin. Tim Draper previously claimed and predicted that by 2022, the net value of Bitcoin will reach to $250,000 per coin. The prediction is also said to be the highest prediction coming from the industry of cryptocurrency. But Draper is still not clear on how this rapid growth will take place but he is enough confidence that there will be massive growth in cryptocurrency. Recently the CEO of Twitter, Jack Dorsey also publicized Bitcoin. Continue Reading Advertisement Advertisement Advertisement Advertisement Latest Crypto News #Exchange5 hours ago German’s Giant Derivatives Exchange to launch BTC, ETH and XRP futures. #STO5 hours ago STO: Thailand set to legalize Security Token Offerings #Scam21 hours ago Bitconnect Scam: How to receive $2.5 Billion Refund from FBI? #Bakkt22 hours ago Bakkt: How will it affect Bitcoin Price? 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