Connect with us

News

Top 5 factors that say that now is the best time to invest in a crypt

Published

on

The standard of living of a modern average person is the result of many years of innovation, inventions and production. A person’s daily life consists of solutions aimed at simplifying and improving it. One of the systems that has a huge impact on people's lives is money.

At its core, it is a universal measure of value. Money allows people to quantify their value and receive rewards based on this. People make money by doing what others find useful, and with the help of money they can buy goods and services that they do not produce personally.

The modern financial system is based on paper money, known as fiat currencies.

These currencies are issued by different countries, and the value of a currency depends on the ingenuity and strength of the country that produces it. Although it was not always. For example, before the American dollar was provided with gold bars, which were stored in the Fed. However, in 1971 the “gold standard” was abolished, and US dollars, basically, began to be supported only by the reputation of this country.

Sometimes people who rise high on the financial ladder become greedy or irresponsible, and therefore financial crises occur.

The most recent financial crisis that occurred in 2008 was caused by a sharp drop in housing prices in the United States. The problem was not the shortage of inventories, jobs, or asset values. It was something worse – additional money was put into circulation to stabilize the economy, and no additional value was created.

Moreover, the bankers who committed this mistake were rewarded – they were provided with state financial assistance.

No wonder that it was the 2008 crisis that spawned Bitcoin , which then began to gain strength. The idea was simple: create a peer-to-peer system that allows you to share value. Bitcoin was created in order to get rid of the control of banks over money. This is a means of payment, the reserves of which are strictly fixed.

Although the cryptocurrency industry has already come a long way, it is not too late to invest in it. Investing in a cryptoindustry is the best way to change the existing global financial system, which is hopelessly outdated.

Cryptocurrencies can give financial opportunities to any person, wherever he is.

If you think that your "cryptocurrency" train has left, then it is not. Below we have given five reasons why it’s not too late to invest in Bitcoin and cryptocurrency.

The current capitalization of the cryptocurrency market is still small

Satoshi Nakamoto's vision was that cryptocurrencies could become a new form of money. This industry has already come a long way from bitcoin whitepaper, but today it is still too small compared to the value of money that is in circulation.

The current total market capitalization of the crypto industry is just under $ 200 billion.

This is very small compared to the current value of companies like Amazon and Apple, although they do not serve even half of the world's population. If cryptocurrencies should become a new form of money, then most of the world or the whole world will have to use cryptocurrencies.

Imagine what will happen if the two companies mentioned above decide to introduce cryptocurrency into their systems. Currently, many cryptocurrency projects create partnerships precisely in order for blockchain applications and cryptocurrency to become convenient for use and firmly enter our life.

However, in order for cryptocurrencies to entrench themselves as money, you have to go a long way. The diagram above shows that cryptocurrency is very far away even to the market capitalization of gold. Although just such a “lag” indicates that the growth potential of cryptocurrencies in the future is significant.

Cryptoindustry expects institutional investors

For cryptocurrency has not yet established any stable rules of regulation. In fact, the authorities are still arguing about what cryptocurrencies are . Some say that these are currencies, others consider them to be a commodity, while others disagree with such approaches to definition. There is also a common approach, according to which some cryptocurrencies are securities.

Such doubts and fears deter institutional investors from investing in cryptocurrency.

Most of the capital in cryptocurrencies is still owned by technology enthusiasts, financial traders and a small number of investors.

Investment firms managing large institutional capital do not yet risk investing in cryptocurrency, although firms such as Morgan Stanley and Fidelity have already made significant steps in this direction. It is also expected that other institutional investors will not want to stay behind.

There are still many opportunities for growth in the cryptocurrency industry

Despite the fact that cryptocurrencies are already solving problems related to remittances, there are still unresolved problems in using the blockchain.

For example, the developers of ethereum are still working on solving the problem of scaling; Bitcoin also seeks to increase the number of transactions through the introduction of the Lightning Network.

It can be said that the current market capitalization of the cryptoindustry reflects the current state of cryptocurrency projects. However, so far only 36 of the top 100 cryptocurrencies have working products, and this indicates that the industry is still in its infancy. Apparently, another area of ​​growth in this industry is related to the current nature of the cryptocurrency market, which is largely due to speculation and sentiment, but not technical progress. It also takes time to mature the market and get rid of such a negative impact.

Further development of the blockchain technology and the maturation of cryptocurrency investors should lead us to exponential growth – both in terms of the actual use of cryptocurrencies and their market capitalization.

Cryptocurrencies as a repository of value in the event of a crisis

One of the problems of the current financial system is that people are forced to use the currency of the country where they are located. While some have the privilege of living in countries with healthy financial systems, others live in countries with weak economies. Some governments can create real chaos in their financial system, and people have no choice but to use national fiat currencies.

Cryptocurrencies do not belong to states or governments. They can not be touched, and they do not impose any physical burden on the owners. The address of the cryptocurrency wallet and the secret key to it (or the hardware wallet) can be an excellent depository of funds, especially during a crisis. The real examples of such cases of using cryptocurrency are Venezuela and Zimbabwe.

It is probably wise to keep funds in Bitcoin, which has become a recognized repository of value. This, in turn, will stimulate demand for this cryptocurrency, because people will tend to buy and store it, and sell – only as a last resort.

More and more companies are seeking to introduce blockchain technology in various industries.

In July 2018, Forbes named 50 public companies considering the introduction of blockchain technology . These are American Express, Oracle, IBM, Facebook, Comcast and others.

Their achievements in the development of blockchains are a positive signal for the future of the industry. Although this may not have a direct impact on the value of current cryptocurrencies, the successful use of the blockchain may encourage the adoption of cryptocurrencies in general.

Given that many companies are already exploring the possibility of integrating the blockchain into their work, it is possible that in the next 5-10 years we will witness mass corporate recognition of cryptocurrencies. It is possible that the current corporate blockchain projects, as well as blockchain-as-a-service services, will contribute to the mass recognition of cryptocurrencies.

Conclusion

Investing in cryptocurrencies is not just buying coins and waiting for their prices to rise. Using useful skills to create or develop something in this space is already an investment.

Creating useful products and services that complement this industry can also be attributed to investments. Although investments are often associated with the purchase of coins, do not think that this is all.

In 2018, the cost of most cryptocurrencies fell by more than 70% of record values. During the January highs, many wanted to buy bitcoins for $ 6000, although now they are skeptical. (However, such an idea should in no case encourage you to buy Bitcoin or any cryptocurrency at the current price – this example is given only so that you understand the logic of the investment process).

Whether we like it or not, at some point in the future, the financial system will change completely.


News

TRON (TRX) cryptocurrency review – forecasts and prospects, current rate

Published

on

5/5 (1 vote)

Cryptocurrency TRON (TRX) is a decentralized protocol based on blockchain technology designed to create a global entertainment network with free content.

In simple terms, TRON is a service similar to all well-known social networks and platforms where users have the opportunity to publish, view and use any available content for entertainment, for example, online games.

The TRON project is currently developing the idea of joint consumption, which is that on a single global platform, users will be able to share entertainment content.

Official TRON cryptocurrency website: https://tron.network

Analysts call this platform the broadcast of the modern entertainment industry. In general, the functioning of this system is as follows:

  1. The author or copyright holder publishes the result of his intellectual work on the official website. You can download anything from literary novels to an author’s song or art on a specific topic. Next, the participant uploads information about how his creation can be used (as an accompaniment to another work or as an independent product). Nearby, he indicates the price of his work.
  2. Another user who is interested in this work acquires it for the local currency Tron (TRX). However, users should remember that it is impossible to purchase this or that product on this resource using fiat money (dollar, euro, rubles, etc.). The system has its own cryptocurrency , which must be purchased at exchangers or exchanges in order to complete a transaction.
  3. As soon as the interested user has acquired the result of intellectual work, the amount indicated by him is transferred to the author’s account. The author can use the tokens at his discretion – purchase a work from another author, simply save money in his account, or exchange it for another cryptocurrency or fiat funds.

About what TRX is, initially interested in all users who are just starting their activities on the site. This resource uses several types of tokens for different purposes:

  • Tron (TRX) . This is the main currency of the system. For this currency you can buy or sell the results of your intellectual work. If necessary, the owner of a certain amount in this currency can exchange it for fiat money or other cryptocurrency.
  • Tron Power It is impossible to purchase or exchange other money for a given currency. The only way to get them is to secure the TRX currency on the site platform. In this case, they are converted to TR. The presence of such tokens gives advantages to their owner. For example, the holder of a TR has the right to vote for one or another change in the system, or to oppose them.
  • TRON 20 . Coins owned by developers. With the help of them, they create new full-fledged blockchains with new tokens.

The TRON cryptocurrency issue is limited, 100 billion coins have been issued at present. However, it is worth considering another point – starting in 2018, tokens begin to be burned (they are meant to be forwarded to an address known only to developers). The last major burn was in June last year, but how often such procedures will be carried out is currently unknown.

project team

The team of this project has on its side professionals working in various fields. The founder of the platform and the creator of TRX Coin is Justin Sun , who also created a social network with an audience of 10 million people. In 2017, Forbes magazine included Justin on his list as one of the most successful entrepreneurs, who was not yet 30 years old.

The technical director of the project is Lucien Chen , who has extensive experience in working for large Internet companies. He is perfectly versed in blockchains and the principles of functioning of cryptocurrencies.

Deus Yu , responsible for quality control, has been working in the computer games industry for a long time. According to Justin Sun, the experience of Deus will come in handy a little later, when the platform gains even greater popularity.

Charles Zhang , an adviser who is well versed in a business not related to cryptocurrencies and blockchains. He has repeatedly lectured on the basics of entrepreneurship, with which he was invited to many universities. Charles made a huge contribution to the promotion of the platform at the initial stage.

Blockchain Browser

Block Explorer is a search tool that allows you to view the addresses of wallets involved in the system, blocks, as well as data of transactions completed or committed. It can be compared with standard browsers, with the help of which an ordinary user searches for the information he needs on the Internet.

For each cryptocurrency, a personal Block Explorer is created that shows the network status for a given period of time. For the Tron cryptocurrency, such a Block Explorer is called TRONSCAN , where users can get all the information they need ( https://tronscan.org ).

How to mine Tron?

The developers of the platform did not provide for mining the Tron cryptocurrency , since they had already created all the necessary coins. In addition, the creators talked about the scheme according to which their cryptocurrency will work:

  1. 40% of the total number of coins will go on sale to enable the project to develop further.
  2. 15% of the remaining amount is allocated for acquisition by investors. Investors are players who, after the main sale of coins, will be ready to purchase tokens further.
  3. The remaining funds are “frozen” and remain in the accounts of the company owners.

Justin Sun explained that perhaps mining will be provided in the future when the company gains the necessary popularity.

TRX Token Wallets

The user can choose one of two options for storing Tron coins (TRX):

  • Storage of tokens on the exchange;
  • Creating your own crypto wallet.

With proper use, wallets provide a higher level of security. All types of wallets for Tron (TRX) are described in detail in this review .

Buying and selling TRX coins

You can buy a Tron on popular crypto exchanges , we recommend that you use the first 15 exchanges, and do not forget to install additional account protection. On the selected exchange, you must go through the registration procedure, after which you will be given a personal wallet, as well as its address.

The most popular and safe exchangers where you can buy and sell Tron:

The exchange rate of the Tron cryptocurrency against the ruble as of October 28, 2019 is 1.29 rubles per 1 coin. For a detailed analysis of the course and chart of coins, we recommend that you look at the Coinmarketcap website.

Development Perspectives and Company Roadmap

A distinctive feature of the project is its roadmap, which is scheduled until 2027. It is divided into several stages:

  1. Exodus It lasts from 2017 to 2018 and is considered officially completed. During this period, information about the project was actively disseminated, as well as developers were engaged in improving tools for using the site.
  2. Odyssey . Accounted for 2019-2020. During this time, developers will pay special attention to the economic development of the platform.
  3. Great Voyage . Captures July 2020 and ends in July 2021. Implementation of a personal ICO system, and third-party developers will have the opportunity to launch their own ICOs.
  4. Apollo It lasts from March 2021 to March 2023. Creating a decentralized exchange platform.
  5. Star Trek . It begins in April 2023 and ends in September 2025. Creation of a decentralized platform for the development of any computer games.
  6. Eternity . It starts in September 2025 and ends in September 2027. Platform users will have the opportunity to create their own playgrounds.

The developers mentioned that if these plans are implemented, a new roadmap will be created in the future, which will begin in 2028.

When analyzing the active nodes of the Tron cryptocurrency, you can notice the scale of the development of the project, where the majority of servers are located in the USA, China and Germany.

The forecast for Tron cryptocurrency from leading analysts suggests that, taking into account the current features of the crypto asset, in the future the project can absorb the entertainment market. And this means that in 2020 the value of one coin is able to stand on one level with the dollar.

Main competitors Tron

The project has two main competitors – Qtum and Ethereum . Each competing company has its own advantages, for example, the first has a more advanced platform in terms of technology, and the second wins due to smart contracts and fame.

Analysts are confident that the Tron platform will still have to fight for its users, since the developers are aimed at a specific audience. However, the Throne does not have special advantages that would distinguish the project from its competitors, which could become a serious problem in the future.

Conclusion

Tronix cryptocurrency has good prospects for further development, since the project itself is one of the most ambitious among others. However, at present it is not in demand. Investing in such a project will bring quite large risks, however, long-term investments can bring the investor good profit.

Share this material on social networks and leave your opinion in the comments below.


Continue Reading

News

The largest exchange Binance has the opportunity to deposit / withdraw deposits in rubles

Published

on

5/5 (1 vote)

The Binance cryptocurrency exchange this Wednesday activated the possibility of making deposits in Russian rubles.

According to the instructions provided on the website, deposit / withdrawal of funds is carried out through the AdvCash payment system , including using bank cards. The commission for the deposit in this case is 3%, for the withdrawal – 2.5% plus 50 rubles.

To deposit / withdraw assets in rubles, you need to go to the “Buy cryptocurrencies” tab in the upper control panel or select the “RUB” currency in the user's wallet, then indicate the desired direction of payment and other necessary data.

Trading pairs for exchanging the ruble for cryptocurrencies on the Binance platform have not yet been presented.

Earlier today, CoinDesk published excerpts from a conversation with Binance CEO Changpen Zhao during his visit to Moscow last week.

“We are always looking for partners in any community, especially in Russia. Russia is a key market for us, it is one of the most active markets in the global blockchain space, ” he said then.

Zhao also confirmed that Russia is included in the Venus project, in which Binance intends to launch several regional stablecoins.

“We are working with potential issuers of stablecoin tied to fiat currency. We do this in all jurisdictions, in Russia in particular, we are looking for partners, ” he added.

Last week, Binance listed its first cryptocurrency pairs on its main platform, starting with Nigerian naira. The exchange also supports fiat trading at selected sites in Uganda, Singapore, the United States and Jersey.

Publication date 10/30/2019
Share this material on social networks and leave your opinion in the comments below.


Continue Reading

News

Technical analysis: the cryptocurrency market is ready for a new growth wave

Published

on

5/5 (1 vote)

RoboForex lead analyst Dmitry Gurkovsky talks about further possible scenarios of the price movement of bitcoin and several popular altcoins .

Buyers managed to show a good bounce up. At the moment, assets such as Bitcoin and Bitcoin Cash look very interesting in the context of continued growth. Moreover, if the BCH / USD chart shows the formation of a reversal pattern of the inverted “Head and Shoulders” in favor of growth, then BTC is just getting ready to leave the channel and continue a confident upward movement.

Unfortunately, the assets of Ethereum, Litecoin and EOS are still under pressure. There are several signals from daily charts in favor of moving down. However, if the bulls manage to break through the next resistance levels, then these assets will be ready to move to the phase of sustainable growth.

In general, the cryptocurrency market looks ready for the start of a new wave of recovery. The bulls can only hold the current levels and rise a little higher to deprive the bears of all chances to continue the downward correction.

Bitcoin (BTC)

Quotes showed an aggressive rebound from the support level. However, the price tested resistance in the form of a downtrend near the $ 9800 area. To continue the rise by the buyer, it is important to “push” prices even higher.

A good signal in favor of a likely continuation of growth is the breakdown of a downward trend line on the RSI indicator. In most cases, a return to the broken line occurs, after which we should expect continued growth. As the main trading idea, you can take a slight correction to the level of $ 7700, after which you can talk about a rebound and upward movement.

Cancellation of this option will be a fall in the quotes of the digital asset below the level of $ 6875, which will indicate a breakdown of the lower boundary of the channel and continued decline.

On the 4-hour chart, cryptocurrency quotes were able to leave the limits of the short-term downward channel. Such a signal is the first sign of a potential reversal of the current downward correction. However, confirmation of the completion of the fall will be a strong growth with consolidation above the level of $ 10,995, which will indicate a way out of the downward channel. In this case, the target of the movement will be the area of $ 12,405.

The values of the RSI indicator again pushed off the resistance level, so we should expect a decrease and a test of the broken channel boundary. After this movement, we can talk about the beginning of growth towards the goal at the level of $ 10,995.

Ethereum (ETH)

Ethereum buyers also managed to keep quotes in the support area, which is located at $ 147. At the moment, the price has once again returned to the area between the moving averages, which may provoke an attempt to further decline.

In favor of this option is a rebound from the downward resistance line on the RSI indicator. As the main idea, we should expect a rebound from the lower border of the rising channel and the continuation of the fall to the first target at $ 147. Its breakdown will open the way for the movement of quotations to the level of $ 100. Cancellation of the negative option will be a breakdown of the Moving Averages and the consolidation of ETH / USD above the level of $ 239. In this case, we can talk about continuing the rise to the goal at the level of $ 280.

On a 4-hour chart, quotes are clamped in a downward channel. The values of the RSI indicator are testing the resistance line again, so we can expect a rebound and fall in the quotes of the digital asset to the level of $ 150.

In favor of this option, a test of the upper boundary of the downward channel will also come forward. Cancellation of the proposed forecast will be a breakdown of the resistance level and consolidation above $ 202, which will indicate the exit of quotes beyond the rising channel. In this case, the target of the rise will be the level of $ 239.

Attention!

Forecasts of financial markets are the private opinion of their authors. Current analysis is not a guide to trade. RoboForex is not responsible for the results of work that may arise when using trading recommendations from the submitted reviews.

Publication date 10/30/2019
Share this material on social networks and leave your opinion in the comments below.


Continue Reading
Advertisement

Name Price24H (%)
Bitcoin (BTC)
$7,525.93
0.99%
Ethereum (ETH)
$150.73
2.51%
XRP (XRP)
$0.229375
1.85%
Bitcoin Cash (BCH)
$213.42
2.04%
EOS (EOS)
$2.74
1.60%
Stellar (XLM)
$0.055803
1.45%
Litecoin (LTC)
$45.66
1.59%
Cardano (ADA)
$0.038564
0.54%
Tether (USDT)
$1.00
0.02%
Monero (XMR)
$53.83
-0.41%
Advertisement

Trending

Copyright © 2018 blockchainjournal.news