How The Exchange BTC to ETH Happens

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Author: Louise Andrea Jimera

In this world, there is one truth we must face: we need money in order to survive; it is an unavoidable fact of our existence as a human being in this world. Of course, there was a time when this was not the case. A lot of societies in this world started without money or currency. However, as we develop as a species, we also created means as to which we can create a market to interact with one another.

 

 

Our resources are becoming limited, and money creates a boundary between those who cannot afford and the rest. Money is also one of the most powerful influencers in the world today. If you have money, you can influence the world to make it better or worse place. You can even create your own world and build to your heart’s content.

 

We always think of money in its physical form, the coin and paper bill. They have a long history along with our existence as human beings.

 

The coin was first introduced and is the longest type of currency in use today. Many kingdoms and empires used coins as a means of currency. It is usually made with silver and gold, and most of the previous empires and kingdoms have their own of producing them. Each coin may bear the insignia of the country or the current ruler, along with the other symbols associated with the mint. The higher the gold content of the coin, the higher is its value which varies depending on the location as well. In the current era, most coins in the world are not completely made of gold although there is a bit of it in every coin.

However, there are a lot of issues with coin and minting so some countries decided to abolish it. Canada is one of the most famous countries who have decided to get rid of the coin. Read more about it here: https://www.economist.com/the-economist-explains/2013/02/12/why-has-canada-killed-off-the-penny.

The paper bill is next, and it is easier to carry around compared to the coin especially in larger amounts. It is commonly referred to as banknote, as it originated with its use in the banks. According to some records, banknotes were used as a placeholder for people to pay their accounts in the bank. Later on, central banks decided to print banknotes to provide it to the people for them to use in their daily transactions. Ever since then, only the government can legally create banknotes for their own country. It has been that way ever since, and it has been really useful for the world. However, it still has its own problems.

 

One of its issues is its vulnerability: it can easily get destroyed by moist, tearing or burning it. Banknotes can also be copied very easily, especially in this world where advanced photocopiers exist. There are a lot of famous cases about this, most notably this one here. Most central banks have been trying to solve this issue, but many can still create counterfeit bills.

 

This is why the need for a more secure type of currency is currently on the rise, especially with the prevalence of online transactions. Credit and debit cards can be used, but there are still ways to track and take advantage of your information using these cards.

Cryptocurrency is considered as one of the more secure ways to pay for your transactions online. It is a completely virtual type of currency, and you can even “mine” for it if you have an advanced computer system. The way it protects you is with its two way system: the two parties who are transacting can only receive and send payment with a unique passcode. These passcodes change based on the transaction which increases the security. As it is also a form of investment, you can track its value online using websites like Rubix. You can even exchange one cryptocurrency to another like from BTC to ETH. It is really easy once you get the hang of it.

 

There are now many ways to use currency whether it is on the physical world or the virtual one. The only important aspect that you need to care about is your own security and the impact of your purchase to yourself. Learn how to spend wisely and the currency that you will use will not matter anymore.

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3 No-No Reasons to Invest in Cryptocurrencies with your Retirement Fund

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Many retail investors are drawn to the hype of investing in cryptocurrencies as they believe this asset class, which is aggressively marketed as a phenomenal wealth creation tool, fulfils “get rich quick” dreams.

Bitcoin is the best known and largest of the 1,600-odd cryptocurrencies. The US$140 billion market capitalisation of Bitcoin is even bigger than the famous McDonald’s (Ticker: MCD) of US$129 billion.  The meteoric rise of Bitcoin has drawn many investors, with some believing that the underlying blockchain technology could become one of the most powerful tools in the future financial world. No doubt cryptocurrencies may change the financial world in future, but this asset class may not be suitable to everyone due to the underlying risks. The following are the 3 No-No reasons if you are investing in cryptocurrencies for your retirement planning.

1st No-No – Valuation

There is no intrinsic value of a cryptocurrency. A bitcoin has no proper valuation method or intrinsic value and it is not backed by any tangible asset – unlike equities which can be valued by their earnings using PE (Price-Earnings) Ratio or valued by future cash flows via the DCF (Discounted Cash Flow) model; bonds by future coupon pay-outs; property valued by rental income or comparative method by location; and commodities’ prices determined by the actual demand & supply. No one can determine what the actual value of a cryptocurrency is. Should Bitcoin be worth US$100,000, US$1,000, 10 cents or be worthless? As there is no measurement to help you value the cryptocurrency, there is no way you can judge whether you are buying at over its value, below its value, or throwing your money away if the Bitcoin becomes worthless one day.

2nd No-No – Safety

There is no central bank, government or financial authorities, such as custodians, registries, and the like, to protect investors. Investors mainly depend on their private keys and digital wallets to safeguard their own coins. For instance, if the investors forget or misplace the login details of their private keys and digital wallets, there goes all their investments.

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3rd No-No – Transferability

Transfer of the money, buying & selling at different exchanges, keeping different coins in different digital wallets and exchanges can be a very daunting task to most people. For example, investors have to transfer cash from our banks through XFER to Coinhako, buy Bitcoin and transfer to Bittrex / Bitfinex (exchanges), then sell Bitcoin and buy Ripple (XRP). If investors want to take profit from XRP and return the cash back to their bank savings account, they will have to reverse the process. Every transfer involves cost and the transfer can go MIA (Missing In Action) if the investors are not clear about what they are doing.

Blockchain may very well be one of the technologies of the future, but this alone doesn’t warrant investing in cryptocurrency, especially for something as crucial as retirement planning. The risk of “losing everything” is just too high to take if something goes wrong. Building a diversified investment portfolio with traditional asset classes is still a safer way to build up your retirement fund. Don’t forget, you can also talk to a Financial Alliance representative in order to get the best retirement plans  to suit your needs.

 

Kenny Loh is a Senior Consultant of a largest Independent Financial Advisor in Singapore. He won 4 Awards in 2017, Financial Alliance Quality Class Merit Award, Top 5 Investment Asset Under Advice (AUA) Award, Rookie Consultant of the Year Award and Best Practice Consultant Award. Visit his personal profile here. https://fa.com.sg/kennyloh/

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Why It’s Better To Get Trading Software Like Fintech LTD

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By Joan Katz

The hype around cryptocurrency trading may not be as strong as it used to but it’s definitely still way off the roof! What many people see in cryptocurrency is opportunity – to trade, to innovate, to earn. Many software developers have come to see this opportunity too and so, they sought out a program that will be accepted by the cryptocurrency trading community. Unsurprisingly, what they managed to create wasn’t just accepted – it became a necessity to trading.

Introducing cryptocurrency trading robots! Or, cryptobots for short (read more).

What if I told you that there was a safer way to secure your trading success? What if I told you that you don’t have to do the meticulous activity of trading yourself for “something else” will be doing it for you? How would you feel about winning trades 80 or 90 percent of the time?

I’m pretty sure your mind is raging about the idea. Luckily, all these things are made possible and promised to you when you manage to find yourself a superstar trading software.

How Do Trading Robots Operate?

Of course, there is more happening behind the hocus pocus of trading robots. The cryptocurrency trading system, after all, isn’t something you can easily bypass – let alone, cheat on. When you trade, you have to win everything fairly. So the question is “How?”

Trading cryptocurrency like Bitcoin or Ethereum is very tricky. This is mostly because of how volatile crypto mines are. One moment, currency values skyrocket off the ceiling. After which, it can dwindle way down into the ranks. Aside from Bitcoin which has, more or less, established its market value, other types of crypto money are very rocky. Although one thing I can assure you is that they are real. So you can erase any doubts you have about cryptocurrency being a scam or fraud.

Check this article for more information about Bitcoin Volatility: https://www.cryptocompare.com/coins/guides/5-things-you-need-to-know-about-bitcoin-volatility/

You can also cross “gambling” off your list of what cryptocurrency is. Because I’m telling you, it might seem like a game of luck; but really, it isn’t – or at least, not entirely. Although luck (if it does exist) may be a factor on how your trades will turn out, it’s not everything there is to it. I can say with full conviction that cryptocurrency trading is not at a level of slot machines when it concerns luck. After all, it takes experience, knowledge, intuition, and a whole lot of guts to trade. It is never just about luck.

This is where cryptobots, the lovely software leading developers have created, comes into play. Cryptobots are programmed to record, analyse, learn, and create relationships out of an entire history of trading data. And this bulk of information is replenished and renewed with each and every trade people (or other robots) do everyday. Cryptobots distinguish relationships and makes sense out of various trading trends no ordinary person can. They then use this information to come up with the right trading decision. This heightens the accuracy of their trading choices and ultimately, leads to higher trading success.

Are People Capable Of Doing This Too?

Straight answer is NO. Not that I’m underestimating the intricate and talented minds people have, but logically speaking, there is no way an ordinary person can make use of trading data in a similar manner. I have two reasons to prove it:

  1. When we talk about the long history of trading data, we’re not just talking of thousands of gigabytes – we’re talking about thousands of terabytes worth of data! Cryptocurrency trading may have had its break in 2009 but it has been developed and refined long before then. And even if we were just to count from year 2009, we’re talking about 9 years’ worth of information to date (it’s 2018). It is simply not possible for a human brain to take in and process that amount of information.
  2. Say, that there is one superhuman who can run and make sense of this huge amount of data, the next hurdle is where will he or she extract such vast amounts of information? Trading data is not readily available for the public’s perusal. You need permits, licenses, and rights to access this kind of valuable information. You’ll probably consider hacking into the system and extracting the data illegally. But seriously, if cryptocurrency databases can be easily infiltrated, no sane person would consider investing in a system that carries such a huge amount of risk! You can have your own ultraprocessor installed inside your brain, but without access to the trading database, you still wouldn’t be able to put it into much use.

These are only two reasons but I do find them pretty convincing. Why go through the trouble of figuring everything out when you can just get the service from an excellent trading software developer, right?

Manual vs. Autopilot Trades

The main difference between trading with a cryptobot and without one is the Autopilot Mode. In autopilot, you can trade even with your eyes closed – literally! You can program a trading bot to keep entering trades with high probabilities for success even while you go to work, have dinner, catch a few z’s, or even while you’re on vacation! Cryptocurrency trading robots have made it possible to trade EFFECTIVELY albeit human assistance. And with it, comes a few perks:

Your Trading Decisions Become More Objective

Sometimes we think that our trading decisions are objective enough to carry us all the way to the heights of success. But this is where the problem lies, we just “think.” We don’t know for a fact whether our perception is real and accurate. After all, we are often blinded by our own thoughts to actually see what’s happening. And, we tend to realize the truth post ex facto or after the fact that we’ve been losing trades already.

With cryptobots like Fintech LTD, we can avoid such scenarios by imploring the aid of something that is neither driven nor affected by human emotions and drives. Robots don’t feel greed; they don’t fear; and they most definitely do not have biases like humans. They base their trading decisions purely on probability and will not act against fair reason. We need something as objective as robots to help us with our trading decisions – something that will not fear losing assets as much as we do.

You Increase Trade Success

Of course, with highly practical and reasonable trading robots on your side, you’re bound to win more trades. Robots evaluate previous trading data and create relationships and trends out of it in order to come up with a more accurate trading decision. When you base trading decisions on factual data, you increase your chances of being right – compared to when you based your trades on pure intuition. Cryptocurrency trading can be studied, you see. It can be analysed (read more). All you need to have is access to the right information and the capacity to make sense out of gibberish data. Trading bots have both. And so, this makes them the right candidate for any trading job.

And we’ll end here for today. Hope you had a fun and informative read!

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