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What are the most exciting reasons to become involved with digital currencies?



digital currencies

Ever since cryptocurrencies have come into being, people have been constantly debating whether or not they should look into investing in it. Some look at it as something that could revolutionize the current way we trade and make transactions and purchases while some just consider it a fraud. However, people who have convinced themselves regarding the legitimacy of this currency and wish to proceed ahead can also look into the following wonderful reasons to invest in cryptocurrencies that could make their prospects even more exciting.


Exponential growth

Although 2018 was a bumpy ride for cryptocurrencies especially Bitcoins, it is making a spectacular comeback. China has already set up a Blockchain Industrial Park which aims to fund and facilitate the expansion of blockchain and blockchain based startups and applications. Japan has accepted Bitcoins as a legal mode of payment. There are now over lakhs of pizzerias, jewellery stores, restaurants, hotels, retail stores, online shopping websites and many more places that have started accepting Bitcoins as a legal form of payment. With the astonishing rise in the market cap and value of a wide range of cryptocurrencies, more and more financial institutions are looking at investing over a billion dollars in this market. A wide range of alternative cryptocurrencies only provide people with a plethora of options to explore and then make an invest in one or many places of their choice.


Fraud proof

The subprime business dealings at Wall Street had led to the great financial crisis in 2008. With the inception of Bitcoins in 2009, this financial crisis was one of the main reasons that triggered people’s interest in cryptocurrencies. Our traditional transactions require a middleman or a central authority which acts as a figure of trust for legitimate, honest tradings to occur. However, with cryptocurrencies incorporating a decentralised, distributed shared ledger technology courtesy of blockchain, no one gets the power of central control. You own your data over this network. Trust is developed between the payer and payee on this platform by the use of secure and highly reliable cryptographic techniques. The irreversible nature of digital currency transactions is an added feature. All these features put together make for a very secure and tamper free platform for trade deals and merchant – client relations to be established.


You are the owner

Even if it is your money in the banks and other financial institutions where you have stored your money and created accounts, you don’t really own it. You are at the mercy of the financial body. There is, in reality, no electronic cash system where your money is actually, completely and wholly owned by you. However, owing to the decentralized nature of cryptocurrencies, you are given back full control of your currency. No one is required to manage things for you, you do not require the affirmation of any other person or entity to conduct trade deals or even simple transactions.


Quick instant settlements

There comes a certain ease and convenience of use when one decides to work with virtual currencies. You do not need to go to banks or other financial bodies. All you need is a smart device with a steady internet connection. Once you are on the grid you are your own bank. You can make all your payments and transactions without the need of a bank. In addition to these, you do not have to pay any additional transaction fees, processing fees etc which are taken by banks and other institutions simply as their service charges. This significantly reduces your cost of expenditure.


Moreover, your usual credit settlements take over a week to pull through and finally be affirmed. These settlements sometimes take even over a month to happen. This becomes a great source of inconvenience for customers regarding their money matters. However, one does not need to worry about these problems when they make transactions using a decentralized distributed ledger. This is because settlements on such a network are quick and instant. The take as little as 10 minutes to pull through and be completely settled without any disruptions. This makes banking payments quicker and efficient without having to rely on the mercy of the banks.

The worth of blockchain economy stands nothing less than a few hundred billion dollars and companies and people all over the world are constantly working towards making it a mainstream technology.

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Cryptocurrency Market Updates: Bitcoin May fall further



The cryptocurrency market is still facing the same bullish trend today, yet again. Bitcoin price recovered a little with trading around $4300 to $4400.

The cryptocurrency market is still facing the same bullish trend today, yet again. Bitcoin price recovered a little with trading around $4300 to $4400. Yesterday the price of bitcoin fell up to $4190. Ethereum is still trading at a year and a half low of $125. Apart from ethereum, most altcoins are showing small corrections. Bitcoin Cash moved 3% upwards while Monero has moved 4% upwards in the last 24 hours. Bitcoin Gold and Bitcoin Diamond have had good gains for the day with 8% and 16% rise. IOTA is trading at around $0.32 which shows a 6% improvement from yesterday’s price. NEO is up by 5%. However, the small gains are nothing in front of the massive downtrend these altcoins went through in the past couple of days.


Cryptocurrency Market Capitalization Improved

The total cryptocurrency market cap yesterday came down up to $136 billion which was the lowest of 2018. In the last 24 hours, cryptocurrency market has managed to add $4 billion in the market capitalization adding to $140 billion. Over the last week, the cryptocurrency market had lost over $40 billion and over the last month, around $70 billion have been erased from the cryptocurrency market capitalization which is yet to be recovered.


Bearish predictions for bitcoin

While the market cap is trying to recover the price predictions for bitcoin still remain bearish as many cryptocurrency analysts have predicted that the only support after the current significant support of $4000 is at $3000. So if the price drops below $4000, it will definitely reach down to $3000 after which the price is expected to recover.


The overall situation of the market is still harsh as there is no major recovery from the massive losses that occurred in the past few days. What do you think about the bitcoin predictions being made by crypto analysts? Tell us in the comments section below.

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Bitcoin Cash Hard fork screwed the whole cryptocurrency market



Whole cryptocurrency market is suffering because of the continues wars going on between ABC and SV which has created a bad reputation of the crypto space.

The original Bitcoin Cash split into Bitcoin ABC and Bitcoin SV during the hard fork but no one is sure to weather BCHSV or BCHABC will survive in the market as the hash wars still continue. The hard fork has lead to an uncertain future of Bitcoin Cash and also screwed the whole cryptocurrency market. The Price of both the new coins is on a continues decrease where Bitcoin Cash ABC values at around $226 and Bitcoin Cash SV values at around $76.


Cryptocurrency Market Crash

The whole cryptocurrency market is suffering because of the continues wars going on between the two teams which have created a bad reputation of the crypto space to the newbies. At this time when more and more institutional investors were entering into the cryptocurrency space, the hard fork has created a feeling of Fear, Uncertainty and Doubt amongst them.


BTCUSD yearly chart

BTCUSD yearly chart


As the hard fork started, the entire cryptocurrency market faced a downfall where all major cryptos are on a 6 month low with bitcoin trading around $5200 that is a yearly low for the most dominant cryptocurrency. The decline is the price has created fear in the minds of investors who are now talking about capitulation.


Should Craig Wright be blamed?

Craig Wright who claims to be the real Satoshi Nakamoto and the founder of the original bitcoin has been funding his side of the war using BTC. Cryptocurrency enthusiasts around the world are criticizing Craig Wright and also calling him a lier.



The local media’s role

The real reason behind the rise of cryptocurrency and blockchain was the mass adoption by people who heard about it through local media. At that time, the local media described bitcoin and other cryptocurrencies as the future of money explaining the decentralized nature of such currencies, but now due to the wars within the cryptocurrency ecosystem, the local media has started to criticize cryptos and people have started to lose faith in the crypto market.

If the amount of money being used in such hash wars would have instead been used for the development of the crypto ecosystem with advancements such as lightning network, the market could still be flourishing rather than being on the verge of getting sunk.

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#Ripple Price Analysis

XRP price analysis and market updates



XRP has overtaken ETH again by becoming the number 1 altcoin according to market capitalization. Crypto analysts believe that XRP can outrage bitcoin too.

XRP has overtaken ETH again by becoming the number 1 altcoin according to market capitalization. Crypto analysts believe that XRP can soon outrage bitcoin too and take the spot of the number 1 cryptocurrency while bitcoin is still more than 52% dominant. XRP had a downfall last Wednesday when XRP price fell to $0.43, but in the last 24 hours, XRP experienced a good bullish momentum with a 12% rise trading above $0.51. XRP is currently trading at $0.519 (at the time of writing this article).


XRPUSD 5 day chart

XRPUSD 5 day chart


One of the major reasons for the rise of XRP is the approval of cryptocurrency ETF by the Switzerland authorities and also the adoption of RippleNet by more and more financial institutions worldwide. Many other altcoins apart from XRP also experienced a bullish momentum in the last 24 hours. XRP is on the top of the list for gainers while Stellar and Monero are on the 2nd and 3rd position. The price of bitcoin showed little improvements by remaining above $5600 mark.

Many financial analysts predict a bearish future for cryptocurrencies in 2019, while many other cryptocurrency enthusiasts believe that the following predictions are just to create a feeling of fear amongst the cryptocurrency investors. What do you fell about the same? Tell us in the comments section below.

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