Cryptocurrency - JZ Finance Org

Understanding Short Term and Long Term Trading of Cryptocurrency

September 21st, 2020Linda Littlejohn0 Comments

Understanding different things in cryptocurrency trading will grant you an easy time. When people exchange cryptocurrency, they use cryptocurrency trading platforms. In this case, buyers and sellers can contact each other. For example, you have Bitcoin that you want to exchange for Ether.

The exchanger will help you find an Ether seller for the transaction. There are so many exchange platforms you can use out there.

Short Term Trading

Short term trading in cryptocurrencies is the process of buying and holding cryptocurrencies for only a short period. This interval can be minutes, hours, days, weeks, or even months!

You buy a certain cryptocurrency because you expect a short-term rise in its price. And when this happens, you sell it because you know that the rate of this cryptocurrency may soon fall again!

The main advantage is that changes in the cryptocurrency market occur frequently and with a fairly large amplitude. Unlike the fiat currency market, where prices rarely change by more than 1% per day, the rate of cryptocurrencies can change twice in just one night!

Long Term Trading

On the other hand, long-term trading is all about buying and holding cryptocurrencies for an extended period. Typically, this strategy involves holding the crypto for a period of about a year or more. The idea is that, despite the fact that the cryptocurrency market is volatile, the rate should rise significantly in the long term.

A perfect example is the investors who purchased Bitcoin cryptocurrency at around 2011 when it was valued at 0.35 USD. If only they held their virtual currencies till 2017, they would have made profit by selling each of them for about USD 20,000 each. That is like 57,000 times of your actual investment.

Long-term cryptocurrency trading has several advantages. Unlike short-term trading, where you need to check the cryptocurrency rate constantly. You can do it in your spare time. It’s easy; after buying cryptocurrency, you just need to be patient and wait. Another advantage of long-term trading is that you don’t need to invest a lot of money. You can buy a small amount of coins and wait for the exchange rate to change in the long term. Understanding these two trading methods will grant you a smooth time in the crypto market.…

How to Reduce Security Risks When Buying Bitcoins

August 8th, 2020Linda Littlejohn0 Comments

While it may seem that Bitcoins are almost unworkable to be the subject of security risks, some flaws have made it possible for the most highly technical hackers to succeed in some cases. Like fiat currencies, owners of bitcoins should never let their guards down when securing their hard-earned money, whether cryptocurrency or traditional currency. Hackers have also become very sophisticated that they can undermine theft of your bitcoins.

Buying Bitcoins with PayPal is becoming a common method of acquiring this most versatile cryptocurrency. But when doing so, it helps to follow a strict guide to buy with PayPal. This will help you secure the Bitcoins that will be in your possession. You should be aware that every transaction you will have may increase your chances of being victimized by cybercriminals. Here’s how you can reduce security risks when buying Bitcoins.

Store Your Private Key Offline

The most astute Bitcoin holders never store their private keys online. Doing so will expose it to cyber theft. Keeping your private key offline can be safer. When you are buying more Bitcoins or doing other transactions, you uncover details that may also expose your private key. But even then, your private keys should not be kept in a visible online location.

Be Updated With Currency Exchanges

It pays to be updated with the Bitcoin exchange rate so that you will not be short-changed during a transaction. Cryptocurrencies can fluctuate unexpectedly. Its value can increase by 50% or decrease by as much, which can never happen in traditional currencies. It also helps if you know how to determine platforms that are out to fraud you with those out-of-this-world promises.

Deal With the Most Secure Bitcoin Wallets

Bitcoins are stored in wallets in a cloud storage location. Choosing the most reliable provider will help you decrease the chance of being hacked. Cyber hacking of public wallets is possible because of some imperfections on wallet services. To prevent this, you should do research involving wallet services and know their history. For sure, you do not want to deal with a wallet service provider, which has been hacked a couple of times. You should also read customer reviews.

Avoid Underground Marketplaces

Patronizing the ‘dark web’ is not an ideal marketplace to be. It may expose you to more harm than good. While it may be legal in some places, you may get the ire of others. Your security risks may be doubled. Once you are with an illegal platform, recovering your investment may be impossible to recover after a successful heist.…

Cryptocurrency is Taking the Financial World by Storm

August 24th, 2018Jeffrey Simone0 Comments

Cryptocurrency is a digital currency that has gained popularity over the years. With this form of currency, the transaction is done over the internet without external interference. It eliminates most of the disadvantages associated with transferring currency from one person to another.

There are no intermediaries, and this means that there are no extra charges that are incurred in the process of transfer. If you are looking for an alternative form of currency that will give your protection from the government or even third parties, then cryptocurrency like bitcoin and ether is the way to go.

Why are people quickly switching to cryptocurrency?

Protection from fraud

Using cryptocurrency is the best way to avoid fraud when transferring money from one person to another. With this currency, you don’t have to worry about getting counterfeit money. You will also be safe from charge backs and reversal by the money sender. Once the currency is sent to your, then there is no way the money can be reversed back.

Protection from third parties

When doing the normal money to transfer for purchases, you have to involve third parties like banks and even lawyers. Involvement of these people only leads to additional fees to the initial cost.

However, with cryptocurrency, the transaction is free from third parties. All you have to do is to sign the contract that is available for the cryptocurrency. This makes the transfer as discrete as possible and avoids any interference from other interested parties.

Global Reach

Cryptocurrency is an international currency, and this means that it can be used and exchanged by people from all over the world. You don’t have to worry about exchange rates, interest rates, and transaction charges. The process is easy and straightforward because you are transferring money from one person to another without money and country barriers.

Safe and secure

The problem with traditional methods like credit cards is the security issue that people experience like identity theft. Once someone gets hold of your credit card, then they can use it and spend your money. On the other hand, bitcoin is safe from such problems and complication.

The process of transferring or paying is anonymous, and this means that your identity is protected. When transferring money or making payment, you don’t have to include your name and the process is even more secure and discrete.

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