Category: Cryptocurrency

Everything You Need To Know About Investing Bitcoin

Posted on by Grady Karly

Do you want to learn how to invest in Bitcoin? Read on so that you can start as soon as possible! If you got there early, Bitcoin could have been the best investment you’ve ever made. In just a few years, the price of the digital currency has risen from less than a dollar to (at its highest point) more than $ 20,000 per Bitcoin.

Why invest in Bitcoin?
Many people are investing in Bitcoin for a variety of reasons as shown in many posts and articles on sites like ‘medium.com’. Tech enthusiasts often start to learn more about the technical side of cryptocurrency and the associated blockchain. However, Bitcoin is seen by a growing group of people as an investment with an extraordinarily high return. In the early years of Bitcoin, around 2012, the value of one Bitcoin fluctuated around $ 2. In December 2017, Bitcoin hit a record value of $ 20,000. Because the price of Bitcoin fluctuates strongly, the moment of entry is very decisive for the return that you achieve. Thanks to the current high position, the return in 2020 is currently already 110%. When you compare this to the current average savings rate of 0.1%, and an average return of 6-7% on ETFs, you quickly understand why Bitcoin is such an attractive investment. The Bitcoin price has experienced many fluctuations as can be seen in the graph. Business Insider calculated how much investment would be worth in October 2018.

How does cryptocurrency investing work?
There are several ways to invest in cryptocurrency. You can do this directly by investing in Bitcoin. You then buy a coin or part of a coin and sell the coin at a time when the rate is higher. By investing in Bitcoin in this way, you must ensure safe storage of the cryptocurrency yourself. You can buy Bitcoins through an online exchange. There are now many different exchanges where you can deposit money. In a virtual market, you can then buy Bitcoins from other users on the exchange. Another way to invest in Bitcoin is through CFDs. Bitcoin CFDs (Contract for Difference) are derivatives. This is an investment product where the price of a Bitcoin CFD is based on the value of the Bitcoin. This allows you to trade with “leverage”. This effect keeps the investment low in relation to the potential return. This allows you to achieve bigger profits with a small budget. An advantage of CFD trading is that you can go short if you think the Bitcoin price will fall. This allows you to trade even if the Bitcoin goes down. You then make profits when the price of Bitcoin goes down. This form of investment is generally more suitable for experienced investors. By investing in CFDs you are essentially speculating about the Bitcoin price movement in the future.

Where can I invest in Bitcoin?
Do you want to invest in Bitcoins? There are many brokers and exchanges that offer you the opportunity to buy Bitcoin directly online. You can also contact various brokers for shares or futures. You have various options at large international brokers. You can buy the currency directly or choose to trade CFDs. These ‘Contracts for Difference’ ensure that you can invest in the value of Bitcoin without owning the Bitcoin yourself. At large brokers, crypto is the main category among the possibilities.

Brazil’s Congress Set to Undertake Deep Probe of the Country’s Cryptocurrency Market

Posted on by Jacki Gwenevere

Cryptocurrency news website Cointelegraph, reported that Brazililian lawmakers have overwhelmingly voted to approve a resolution to launch an investigation into the country’s cryptocurrency market.

Congressman Aureo Ribeiro, instigated the request to formally task the Parliamentary Inquiry Commission (PCI) to conduct the probe. The request came as a result of the widespread proliferation of cryptocurrency related fraud transpiring in Brazil. Congressional support for Ribeiro’s resolution is overwhelming, as the document was signed by 234 Congressmen, which exceeded the required minimum of 63 votes.

According to Cointelegraph, the approved resolution specifically named cryptocurrency operators Atlas Quantum and its CEO Rodrigo Marques, Trader Group and Zero 10 among many others, as needing thorough investigation.

The growing number of complaints put forward by people coming from all over Brazil, indicated that the proliferation of cryptocurrency-related fraud throughout the country, has reached epidemic proportions.

Congressman Ribeiro, who also authored a bill proposing for the regulation of Brazil’s cryptocurrency operations, wrote in the resolution that

”The lack of regulation and vigilance over the crypto market in Brazil presents potential risks to investors and users, as its operations combined with high levels of anonymity, abstraction, cross-border transactions and other peculiarities inherent to the cryptocurrency technology.”

The Brazilian congressman also explained in the resolution, why Atlas Quantum, once purported as the biggest cryptocurrency company in Brazil, calls for a deep probe.

The Main Problem with Atlas Quantum

Homegrown Brazilian cryptocurrency company Atlas Quantum, is currently facing financial problems and legal issues.

Last September 18, 2019, Atlas Quantum released a video to present itself as a robust company with more than $54 million in bitcoins to its name. However, Atlas made further claims that the exchange company HitBTC has frozen 1,862 BTC ($15.3 million) and over $5.4 million in stablecoin Tether (USDT) that Atlas allegedly maintains in three crypto accounts.

On October 05, 2019, HitBTC denied Atlas Quantum’s claim by informing investors that the said crypto-investment company does not have any value stuck in the HitBTC platform. HitBTC further stated that the video released by the alleged Atlas Quantum team is fake, as exchange company noted the non-standard placement of amounts to show the purported balances of Atlas Quantum’s account.

Moreover, HitBTC asserts that it has not received any request for assistance in connection with the supposed frozen accounts. .

The video came at a time when numerous investors expressed fears that the crypto-investment company will not be able to fulfill its obligations to meet all requests for withdrawals. The case attracted wide media coverage, to which Atlas Quantum responded by presenting an audit report allegedly attesting to the veracity of the amount of Bitcoins and other altcoins held by the beleaguered company.

The audited statement though is regarded as contentious, as many of Atlas’ investors doubt if Atlas Quantum has sufficient cryptocurrency resources to honor its commitments.