Connect with us

Bitcoin

3 Good Reasons Why You Should Buy Bitcoin Right Now

Published

on

Bitcoin

After months of Bitcoin losing its value, and especially after the mid-November market crash — traders and investors are starting to wonder if the coin is worth investing in it. While the situation is not especially encouraging at this point, there are many that believe that now is the best time to buy Bitcoin. There are several reasons why, and we will now explain the three biggest ones.

1) Solving the scaling issue

Bitcoin is and has been, the number one coin in terms of value and size of its market cap for an entire decade now. During that time, it has proven to be extremely reliable, with the last known flaw in the way its blockchain works being removed in 2013. Of course, this is not the end of its design issues, and scalability has always been among the biggest ones.

Bitcoin can only handle several transactions per second, which has been a problem ever since it became popular. While there are numerous coins out there that were created with a goal of solving this issue right at the start, BTC developers did not waste time either. As a result, they came up with the Lightning Network, which has the potential to be a perfect way to bypass the problem.

In short, the LN provides another layer to the BTC blockchain, where users can establish tunnels among one another, and use these tunnels for sending countless transactions which will not have to be processed and recorded on the blockchain. Only after the tunnel is closed will the final state of things be solved, which can cut the number of transactions exponentially. Furthermore, the LN will serve as a network of tunnels, meaning that, once enough of them come to be, there will be no need for everyone to establish a direct connection to another party.

The solution is more than decent, quite imaginative, and very practical. The best part is that it can solve one of Bitcoins’s biggest issues, and it is about to arrive.

2) Institutional money is about to arrive

The crypto space is suffering from a very significant issue, which is the lack of institutional investors. These are the biggest investors out there, and they possess enough money to bring stability to the crypto market. However, they are troubled by issues such as regulatory uncertainty, cyber-attacks and theft, as well as cryptocurrencies’ actual use cases.

To help them overcome these concerns, there are several events that are expected to take place in early 2019, such as the launch of Bakkt exchange — which is backed by very influential names such as Microsoft, Starbucks, and others — as well as potential approval of Bitcoin ETFs by the US SEC. Both of these events were already supposed to take place but were postponed due to a bear market, and an entire market crash.

However, once they do come to pass, likely in early 2019, institutions are expected to start making their first steps towards entering the crypto space. With it, the price of Bitcoin will likely rise again, slowly at first, but much faster later on.

3) Bitcoin is spearheading mass adoption

Bitcoin has been the biggest name associated with the term “cryptocurrency” due to multiple reasons, but mostly because it is the oldest, largest, most valuable, and still to this day — the most relevant cryptocurrency.

As such, Bitcoin is the main coin in transactions, on exchanges, and in online stores that are accepting crypto. Bitcoin is the coin that the entire world knows and respects, and the coin that is the leader of the crypto market, but also of the entire crypto adoption.

It is because of this that Bitcoin will never simply disappear, as it is too well-connected and too desperately needed for running the market. While this situation might change in the future, it will likely stay the same for years, if not decades to come.

Because of these and other reasons, investors are using the opportunity to buy the most expensive coin of the crypto market for cheap. If BTC history is anything to go by, the coin will return to greatness in due time, likely exceeding its previous all-time high and setting a completely new record, as well as an example for others to follow.

For real-time trade alerts and a breakdown of the crypto markets, sign up for Elite membership!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pexels

Bitcoin

Blockchain technology outshines Bitcoin and Gold during global pandemic

Published

on

As the popularity of cryptocurrencies such as Bitcoin begins to level up with investments made in metals such as Gold, together they have both made significant advantages for investors who have taken a leap to invest in them.

However, thanks to the pandemic and the dynamic shift in investing and the economy, many investors have seen fluctuating losses and gains thanks to the uncertainty of the current business world. 

Many investors that backed companies who have exposure to blockchain technology have seen an approximate amount of 54% return on investments over the past year. This is even after considering how hard the global tech market and companies have been hit since the beginning of the pandemic.

What is blockchain technology?

Blockchain technology was first introduced as a supportive technology for Bitcoin. A blockchain is a simple, unchangeable and un-hackable digital ledger that holds transactions in little blocks attached to a chain. The transaction is duplicated and distributed across the entire network of systems on the blockchain, making it available for everyone on the network to see. 

Each block in the chain contains various transactions which are recorded on the participant ledger every time a transaction takes place. The database is decentralised and is managed by multiple participants known as Distributed Ledger Technology (DLT).

Although blockchain technology was birthed from Bitcoin and was widely adopted for the use of cryptocurrencies, the way it works and its security has made…

Continue Reading

Bitcoin

Bitcoin Surges After Tesla Bought $1.5 Billion Worth of BTC

Published

on

Cryptocurrency

The sudden rise of Bitcoin has been connected to the decision taken by the Tesla electric car company to buy $1.5 billion worth of Bitcoin.

The company explained in a filing with the Securities and Exchange Commission (SEC) that it bought Bitcoin to diversify its cash returns and more flexibility.

Musk’s Tweets also impacted Dogecoin’s price

Tesla also added that it will start accepting Bitcoin payments for all its products, although this will be based on a limited basis and applicable laws. If the company concludes and starts accepting cryptocurrency, it will make it the first major car manufacturer to accept Bitcoin payments. The company’s founder and Chief Executive Officer Elon Musk has developed an interest in Bitcoin and cryptocurrencies.

He has been tweeting severally about the viability of the Dogecoin (DOGE), which doesn’t have an important market value attached to it.

Few hours after endorsing Dogecoin, the cryptocurrency rose by an impressive 50%. But regulatory authorities are still concerned about the risks in cryptocurrency investments, with several regulatory bodies warning traders and investors they could lose all their money from crypto investments.

But for Tesla, the company decides to diversify its funds and increased its cash returns. However, Tesla also warned investors about the volatility of Bitcoin’s price in its SEC filing. According to the SEC…

Continue Reading

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

Published

on

Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

Continue Reading

Press Release