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Blockchain technology outshines Bitcoin and Gold during global pandemic

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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 it a sought after technology. It has been adopted into several industries from banking to education. Blockchain technology is also being used in unconventional ways including placing information online that is subject to be taken down.

How blockchain technology companies have beat the pandemic 

The Elwood Blockchain Global Equity Index known as BLOCK Index is a platform that aims to offer exposure to listed companies that are or have the potential to participate in the ecosystem of blockchain or cryptocurrency. It is a collection of 45 companies that deploy cryptography to store information on distributed ledgers. 

When considering the index and its multitude of players that are incorporated into it, it becomes apparent that the collective top 10 performers have returned a colossal 54% as mentioned above. Although some of the substantial returns are not directly connected to the blockchain systems, they have significantly helped those organisations level above its peers. 

Bitcoin and Gold – friends or foes? 

Bitcoin has redeemed itself with a crashing start to the year and is now soaring in value. Its price is thought to have jumped by more than 700% since the beginning of the pandemic, making investors a reasonable sum of money.

However, due to Bitcoin’s fluctuation in value and its uncertainty, many investors prefer investigation in physical products that they believe will never lose value such as Gold.  

Many investors invest in Gold through Exchange-traded Funds or buy stock or even buy the physical product itself, which is very popular in the Asian communities. Some do not believe in investing in Gold due to the way the modern world works. Paper notes still hold the top position for investing, and there is still much value to be held in precious metal like Gold for longevity. 

Many claim the use of Gold and its investment is best for jewellery. However, what they seem to overlook is that almost all countries have a gold reserve, and so, if it’s not of any purpose, why do countries still hold on to them for rainy days?

Although Bitcoin does seem to be the more profitable contender at the moment thanks to its price, the longevity of Bitcoin or even cryptocurrencies is unknown. Many tech companies like Samsung manufacture smartphones with crypto wallets and organisations like Master Card are trying to make cryptocurrencies more flexible to use. But the facts still remain, Gold has been around for longer and has more of a solid foundation.

The chart above is a clear indication of how much Bitcoin is able to fluctuate in comparison to Gold. The value of Gold is much less in comparison, but from an investors point of view, it does demonstrate stability in price, of course, at the discretion and opinion of the investor too. 

As time has gone on, Gold is seen as the king of all precious metals, and paired with diamonds, it can create substantial wealth. Gold is used more as a safety net for investors and is more preferred by investors than Bitcoin. 

However, that’s not to say it is better than Bitcoin. Those investors looking for short-term gains on their investment in a fast-paced market are more likely to risk their investments for a multifold investment in a short time. And so they invest in Bitcoin. With significant risk comes big possible consequences. Gold is for investors looking for stability over a more extended period of time with smaller returns.

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Bitcoin Surges After Tesla Bought $1.5 Billion Worth of BTC

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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…

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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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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…

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Wisebitcoin Launches Professional-Grade Crypto Exchange

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Infrastructure is developing rapidly in the cryptocurrency industry, but the recent launch of the Wisebitcoin cryptocurrency exchange is nonetheless significant in terms of the immediate value it provides to cryptocurrency users. That’s because the exchange has had a beta version available since 2018 while continuing further developments in stealth mode, and already serves over 1.2 million end users with $6+ billion in 24 hour trading volume at the time of its official launch.

In addition to the large user base and deep liquidity, Wisebitcoin also stands out by offering up to 100x leverage to margin traders, with the ability to open a long or short position in their futures market. In the current bullish environment, leverage is a key way that experienced traders increase their exposure and try to profit from volatility.

For example, if a user opened a long position on ETH on January 2nd at a price of $750, they could have greatly multiplied their profits with even a small amount of leverage such as 5x as ETH reached over $1,100 within 48 hours. A simple unleveraged position would have netted $350 in profit, but a 5x position would have netted $1,750 and a 100x leveraged position would have netted an incredible $35,000 in profits from an initial investment of just $750. 

Beyond leverage, Wisebitcoin additionally offers a simple and…

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