Bitcoin cash has experienced a surge in price towards $700 against the USD. BCH vs. USD is presently ameliorating and retaining an essential support at $600
• Bitcoin coins price surged up this past week and broke $600 in opposition to America dollar.
• There is a primary bullish trend line forming with an assist at $600 on the four hours chart of BCH/USD (information from Kraken).
• The pair should remain above the $600 handle if it has to stay inside the bullish region.
Bitcoin cash rate rocketed up towards $700 in opposition to the US dollar. BCH/USD is currently improving and retaining a vital support at $600.
Bitcoin cash price support
It changed into a bullish week for Bitcoin cash price as it climbed above the $500 and $600 ranges towards the US dollar. The price even made a nice upside pass above $650 to test the $700. But, it failed at $684 and started out a downward correction. There was a downward reaction going underneath the 23.6% Fib retracement level of the closing wave from the $430 low to $684 excessive.
However, the downward circulates found aid near $585. The 38.2% Fib retracement stage of the last wave from the $430 low to $684 high also protected losses. At the downward, there may be a leading bullish trend line forming with support at $600 at the 4-hours chart of BCH/USD. So long as the Bitcoin Cash and US Dollar stays above the trend line aid and $600, it is possible to continue shifting higher. At the upside, the $650 and $685 tiers are resistance tiers. However, the most important resistance is closer to $700.
In another fashion, a break of $600 could spark a wave towards $550 and the 50% Fib retracement level of the previous wave from the $450 low and $684 high; the general trend is bullish as long as the price stays above $600.
After Bitcoin hard fork that divide the bitcoin network into two – BTC and BCH; all Bitcoin holders on Freewallet obtained their Bitcoin Cash (BCH) coins. IOS users needed to wait until fresh altcoin is accepted by Apple Inc; while Android mobile users had an opportunity to set up their Bitcoin Cash wallet well before the user triggered fork. For most people, the Bitcoin Cash wallet is the address; offered by a few of those exchanges that offer alternative variant of Bitcoin.
Even though there’s some merit to that means the user is not in control of her or his funds. For those people who wish to support Bitcoin Cash rather than be reliant on a market to keep their funds protected, alternative pocket solutions are in demand. The solution would use the upgraded Bitcoin ABC binaries that were released. The upgraded client offers powerful replay protection, which was among the facets in which some exchanges felt Bitcoin Cash has been lacking. Furthermore, other modifications have been introduced; including updated ABC logos.
It appears most of the binaries were predicated; on the Bitcoin Unlimited client, which is not entirely surprising. We could only hope this software does not cause error nodes and any issues offline.
A developer of user-friendly cryptowallets, Freewallet, has released first-ever Portable Bitcoin Cash wallet for iOS. Having a heart-felt sympathy for iOS users who continue suffering from Apple’s verification policies on crypto currencies, the Freewallet team was doing everything they can. Finally, they happily announced that Apple had finally approved the iOS version of Bitcoin Cash wallet and published in App Store.
“It’s a major honor for us to be the first company to supply Apple users with a mobile version of Bitcoin Cash (BCH) wallet they deserve. You’ll certainly love Bitcoin Cash, one if you prefer wallet by Freewallet. It’s literally the app; and it’s already credited with the number of coins; you’d in Bitcoin wallet at the moment of fork. It is time to check your balance and get acquainted with the newly created coin; that price rose above $600 mark” – said Alvin Hagg, the co-founder of Freewallet.
About the Company
Freewallet is a team of programmers, whose aim is to solve the “last-mile” issue for cryptocurrencies by making mobile-first cryptocurrency wallets. The people at Freewallet have developed and successfully released several mobile based crypto wallets for major digital currencies: Bitcoin, Ethereum, Monero, Dash, Dogecoin, Lisk, FantomCoin, DECENT, Zcash, NXT, Ardor, Steem, Bancor, DiginalNote, Bytecoin, Tether, along with Bitcoin Cash. All these are mobile wallets that enable users to familiarize themselves with popular cryptocurrencies in existence and to the settings that are complex along with special technical features.
Other Bitcoin Cash Wallet Providers
Additional wallet service suppliers for Bitcoin Cash really are difficult these days to come across. On the other hand, the project has obtained significant assistance from Trezor; as the hardware wallet maker is trying to make itself compatible with the new Bitcoin Cash (BCH). Since hardware based wallets are still the good option when it has to do with safe keeping crypto currencies; that is cryptocurrency stored on a hardware wallet provides security that is significant.
There’ll also be a Ethereum based wallet solution to Bitcoin Cash. This project was not, although unlike what some people think Endorsed by the Ethereum group in a formal capacity. Instead, its source code was taken by an individual from GitHub; and flashed the Bitcoin Cash to be encouraged by it. Because its legitimacy is as yet unknown, a fork of a Bitcoin Cash requires some scrutiny.
It’s still best to wait and watch the attempt will be appreciated by community. As it stands, there will probably be a desktop client, a version of Ethereum (ETH); three crypto wallet options behind Bitcoin Cash in the future, plus a hardware based wallet. That is not a bad place to begin. The one thing missing now is a wallet; even though there are rumors Jaxx may appear to integrate support for Bitcoin Cash granted community demand that is sufficient. A whole lot of people will just leave their tokens; through the first few weeks of next month in an exchange wallet.
Ethereum (ETH) is a cryptocurrency along with also a block-chain platform using intelligent contract performance.
What is Ether?
Well, Ether is the money of this Ethereum platform. Ether is going to be needed by anyone; wanting to build upon or utilize the Ethereum platform. Exactly like Bitcoin, Ether could be traded round the net and mined. In another few minutes we will show you precisely where you’re able to purchase it. Many individuals use the expression Ethereum to refer to the money rather than Ether and that is why it can become so confusing.
The entire source of ether and its speed of issuance was determined by the contributions accumulated on the 2014 presale of this money. The results were approximately:
60 million Ether made to subscribers of their presale
12 Million (20 percent of the above) were made into the growth finance, the majority of it likely to early subscribers and developers along with the remaining to the Ethereum Foundation
5 Ethers were made every block (approximately 15-17 seconds) into the miner of this chain
2-3 Ethers were sometimes delivered to a different miner whenever they were also able to discover a solution however his block-chain wasn’t included (known as uncle/aunt reward)
The creators of Ethereum say that Ether isn’t a money as far as its “crypto-fuel; meaning it is a token which has one major usage — to cover the Ethereum platform. This usually means that you likely won’t have the ability to get things with Ether online. However you are still able to exchange it and invest in it in hopes its cost goes up.
The most convenient and most economical way to Purchase Ethereum is Coinbase (if it is available in your state):
Coinbase will market you ETH for a charge of 1.49 percent-3.99 percent based upon your payment method (credit cards have a greater commission than cable transfers).
Purchase Ethereum via Cex.io
CEX.io is a Bitcoin exchange which also sells ETH by means of a charge card. The prices for Ether on CEX.io are already calculated to the market rate; which is why it’ll look higher than other trades. But, CEX.io functions with nations globally (unlike Coinbase).
Purchase ETH on Coinmama
Coinmama is a global vendor of ETH. The website enables you to purchase Ethereum with your credit card and swap rates are rather fair considering the choices. Coinmama is a really reputable exchange that’s been operating from the cryptospace because 2014.
Purchase ETH via Coinhouse
If you reside in the EU (Eurozone) another fantastic alternative may be buying ETH out of Coinhouse. The provider is a Bitcoin and Ethereum agent that started out providing service only to individuals from France and slowly expanded to the remainder of Europe.
Purchase ETH with Hot Cash
Right now there’s not any website like LocalBitcoins to get Ethereum at which you can meet people face to face and purchase Ethereum with Money. But you can purchase BTC with money and then swap it to ETH via Shapeshift or even Poloniex.
Do not need to purchase? You are able to perform day trading also
The concept is that rather than actually purchasing Ethereum that you can just trade it on-line with the current market rate. The CFDs are generally suited to the seasoned traders; and your cash is at risk if doing so. In the minute, Plus500 are the sole firm that provides ETH CFDs.
You can additionally mining them
Mining Ethereum utilizes proof-of-work. It is comparable to Bitcoin mining at a feeling that there’s a diminishing block payoff for each and every block mined.
In case you’ve got a dedicated GPU setup for the job then it’s possible to find some actual rewards. For advice on just how to mine Ether see Ethereum’s official website or on our official website article about it.
The simplest explanation is that it is an altcoin. To understand altcoin, you need to know what cryptocurrency is. Cryptocurrency is an electronic cash/ asset transferred over a secured network to the receiver. If you have been reading our blog post you can skip this part, to those who didn’t, here is a link Bitcoin for Beginners and Dummies.
As stated earlier, a cryptocurrency is transferred over a secured network and this is what is known as Peer to Peer transfer. You must have come across the word Altcoin. What is Altcoin? This is the word used to mean alternative coin. It is used to refer to the other cryptocurrency coins that part them with Bitcoin. Bitcoin is the pioneer of online currency, others have come in to try and deliver unique talents that are set to target specific customers. This is in terms of transaction speeds, privacy, guaranteed return on investment, and automation. So far there are around 600 Altcoins in the market. The most recognized ones are Bitcoin, Ethereum, and Moreno.
So, what is Dash?
Enough with the lengthy introduction. What is Dash? Dash is an altcoin that is now becoming a global phenomenon. Since its introduction in 2014 by its developer Evans Duffield, this Altcoin has gained ground and is now becoming one of the fastest growing cryptocurrency. The reason for this relies on its simplicity and security. Its interface is friendly and easy to use, unlike most altcoins. In fact, they say it is so easy to use that your grandmother can use it. you can check their website if you don’t believe me.
Dash has some very interesting background. You see, it first started off as Xcoin before becoming dark coin and then finally being renamed as Dash coin. The reason for this is because of some mistakes committed by its creators that have now become some of its greatest strengths. The first mistake was that in the first two days, around 2 million coins were mined. This is what was then referred to as Instamine. Although riddled with problems, this altcoin has come out of the woods stronger and better than ever before. It has gained traction than any other in the market. It has been rated as one of the fasted growing altcoins in the market. We are going to look keenly exactly why is this.
Reasons for the rise of Dash
Dash has in the recent past grown to expand exponentially. Just like Bitcoin in 2013 and 2014, it has experienced price spikes that have made people millionaires overnight. the price of Dash has moved from an average of around $6 to over $50 at the time of writing this article. This is much higher than most altcoins in the market. In fact, it can only be rivaled by the second most popular altcoin, the Ethereum.
So what are the reasons for this spikes and interest in the coin? This is as a result of various combinations. Most logical ones will be the speculative activity of the traders, sponsors and its unique blend of applications. You see, Dash was in fact designed to resemble the Bitcoin. They use the same block chain and network. However, during the development, they saw it better to make the network as secure as possible. This has resulted in an all new and better version.
Dash Coin Growth – Partners
Also, the altcoin has gained partners that allow the users to pay with Dash coin other than the dollar. The most recent of these is Blockpay. This one deals with the construction business. It might seem less spectacular but construction is a driving force in the United States. Its profits run into the billions per year.
By partnering with Blockpay and the others, it has resulted in spreading of positive reviews of the network together with gaining new users.
Dash Coin Growth – Traders
The other reason we saw was as a result of the speculative nature of the altcoin traders. Before gaining coverage, this coin was trading at $1 or $2. As a result, speculators were gaining a tradition of shorting the stakes. Shorting means borrowing assets at a high price speculating a fall in the price. Speculators borrow when the asset is at a high price, sell it and waiting for a fall in price. When it falls in price, they buy it at the low price and return the asset to the lender. The profit is the difference between the high and the low minus the trading costs.
However, with the recent news of partners, the price started to increase and these speculators saw it best to sell in order to avoid further losses. This increase in selling volume attracted attention. And in any asset market, anything that sells attracts the attention of buyers which result in an increase in the price.
Bitcoin took the world by surprise. The first decentralized cash in which the government had no control. This was received with both relief and criticism. This altcoin tried to make itself as decentralized as possible. However, it had its flaws which some of the people didn’t like.it didn’t have complete anonymity. With the modern advances in Blockchain forensics, most Bitcoin transactions are not an anonymous as they used to be.
Enter the Dash Coin. This cryptocurrency has made some bad ass moves that are geared towards complete anonymity. Currently, this altcoin is one of the most secure networks in the world. The reason for this relies on three distinctive technologies that Dash uses above the other Bitcoin alternatives.
These are the following.
While Bitcoin majorly focuses on the decentralization aspects of the currency, Dash came to work on the security. Dash is built on the core code of Bitcoin but with major improvements. Its inventor saw it wise for the Altcoin to be anonymous so as to be a true cryptocurrency. The reason for this anonymity majorly focuses on the hiding of the transaction records as will be explained in Private Send. The reason for hiding the transaction record is simply to hide the identity of the owner as many can use this for manipulation.
The other reason I have come to understand is that of what most people call Fungibility. In economics, it means the property of a good or a commodity whose units are essentially interchangeable. In cryptocurrency, it would simply mean that the coins or Dash are of the same value. When there is anonymity, no one will be able to devalue the coin for whichever reason especially while purchasing in the Dark Web.
Sending your stash using the most common altcoins or even Bitcoin can be traced. This is what made Dash go beyond the market standards to come up with a private means. Private send is so far the best in the business. Using this, anyone trying to track you will eventually be limited and frustrated. One trick is when you send your stash, it is broken down into tens and ones which are sent to different miners who in turn send the amount to the right receiver. Another one is which they employ Coinjoin. This mixes different altcoins to the value of the Dash coins sent. However, it has a limit of 1000 Dash. Also, this process is optional to the user and tends to be a bit slower.
Initially, it was known as InstantX. This was however rebranded in 2016 to be called Instant Send. This feature allows you to send the Dash almost instantaneously, for 1.5 seconds to be accurate. Bitcoin does the transaction for 10 minutes. However, the is a small fee to be charged when using masternodes.
From the above mentioned Instant Send, you came across masternodes. I bet your first question was why are masternodes charged Higher than usual? You see, unlike Bitcoin where each coin/note is equal, for Dash altcoin, there is a special note, the Masternode. You can hold this for 1000 Dash which acts as a collateral. Masternodes are designed to fulfill a specific function and for Dash, it is for use in private send and Instant Send. Also, it earns a block reward of about 45%. Apart from the collateral, these masternodes do not cost money or effort as they are designed for a specific purpose.
Many altcoins have followed suit and adopted Dash use of masternodes in their networks. There are over 15 altcoins that have adopted this trend. This is because the masternodes act as a means of generating passive income. The common users are Crown, Block, BItsend, Neutron, Pivx, and Renos.
Dash is planning to expand its market share by not only aggressive marketing and but also developing new products. so far this seems to work at least with the introduction of private send and Instant Send. They also have the following products.
Dash has come up with a new interface they call Evolution. This they say is for easing up operation for the less technical users. Using evolution, the holder can connect to merchants to make purchases without the technical coding and script writing. Also, people will be able to rate the merchants for future customers to distinguish the good from the bad. This is because they have integrated these merchants with Dash on the Blockchain and there is the need to keep a positive review. Late this year, the Dash altcoin developers want to release the alpha version of Dash Evolution.
Dash Debit Cards
From polls that have been conducted, many people would prefer to use debit cards for daily use. Also, the hindrance of the cryptocurrency adoption to the mainstream market is seen to be the as a result of not being used in the in credit and debit cards. That’s the end of the bad news. Some companies have come forward and offered Dash Acceptable Debit cards that use the most widely recognized trademarks, Visa and MasterCard. These seem to be rising in use since they make fewer cuts and also because the conversion fees to fiat money are usually much lower for travelers who visit different countries.
Dash, unlike the Bitcoin, has self-governance. You see, Bitcoin is funded by parties that might be having self- interests which would go contrary to the main objectives, a good example is any major company where a bunch of millionaires hold the voting rights. In Dash, however, it governs itself. They do this using Dash coins as rewards. By mining new coins, 45% go into the Masternodes (people who have invested 1000 Dash coins), another 45% to the miners and the 10% to the Treasury. By doing this, everybody’s interests are in line with the company’s objectives.
Also, Dash has the program in which they get new ideas from the public. Anyone with an idea of how to improve the cryptocurrency can submit their ideas to the Dash committee who will, in turn, implement them. So far they have been able to implement the idea of opening a You Tube channel that gives you Briefings about the altcoin on a weekly basis. To submit your idea, visit a Dash forum on the website.
Dash altcoin being new in the industry is relatively easier to mine. This is so because it has an estimated fixed point of 18 million coins while only 7 million have been mined. To get started, you need to know a few basics. First is that Dash mining, unlike Bitcoin, is easier for individuals than for the companies to mine. How is this so especially because Dash uses the Bitcoin core program? Dash uses x11 algorithm which is easier to mine using GPU than CPU. That is, if you have a gaming rig at home, you are in luck. What you need is a wallet and a mining software to get started.
This coupled with the fact that manufacturers haven’t made an x11 hardware to mine Dash makes it relatively profitable. So far from what I have learnt is that this works well while using windows operating system. Also, Dash pays you a basic rate if you are a miner daily. The only thing you need to worry about is the mining software sgminer.exe. when downloaded from dubious sources, it can contain malware which isn’t the best thing you want for your computer.
How to earn Dash online?
Mining is power and labor intensive work. How do else can you make Dash coins? There is a range of answers to choose from but we will concentrate on the proven methods here. If you have a reliable internet connection, you can make free Dash. This you can do by purchasing online wallets and engaging in their affiliate programs. Most of these offer at least 10% of the referral. The other way to earn passive income is by having a Masternode. This, however, requires an investment of about 1000 Dash. The return on this is 45% of the new coins mined which to me seems like a good deal. There is also a less know method that requires little investment of about $50.
Purchasing and running a Raspberry Pi. This is a skeleton of a computer that houses a Dash Masternode. The return on investment for this is estimated to be 17% per year. You only need to set it up and connect it to the internet. for power consumption, it can run on the power you use to charge a phone.
In this post today, you will get everything you need to know about Coinbase. If you have been wandering in the new interesting world of cryptocurrency, you must have come about Coinbase. This is a company dedicated to but not limited to cryptocurrency.
I will start off by generally describing what it is before doing a Coinbase review. This is a limited company that focuses mainly on the digital asset ventures especially the cryptocurrencies. Coinbase majorly focuses on Bitcoin and its products but has in the recent years started incorporating the other altcoins such as Ethereum and Litecoin. Coinbase acts as a digital broker in the simplest explanation of its services. This company is also backed by the New York Stocks Exchange.
Coinbase was founded in 2012 by Brian Armstrong and Fred Ehrsam who saw a middleman opportunity after Bitcoin started gaining market since its introduction in 2009. Coinbase first started off by buying and selling Bitcoins through Bank Transfers. It then extended its services to include the vault system for the Bitcoins. Over the years, it has grown in its users to about 7 million at the time of writing this article.
Coinbase has been the place to go especially if you are looking to purchase your first Bitcoin. This is because the company has invested heavily in making better algorithms and designing user-friendly interface that takes care of the extensive technicalities in owning any cryptocurrency. Also, they have partnered with many banks and offer payment services to over 32 countries worldwide.
What you need to know about Coinbase?
As was stated above, Coinbase has partnered with many banks around the world so as to enable the purchasing and selling of Bitcoins in the local currency. Also, people have many payment options ranging from EFT, SWIFT SEPA, and Ach. Also, they have introduced PayPal and Debit and Credit cards. Of course, these are Visa and MasterCard supported.
Coinbase mainly focuses on the purchases and sales of Bitcoins. However, it also performs an auxiliary function of storage. That is, they have wallets that you can rent out like a ware house to store your Bitcoin stash. You also store Ethereum and Litecoin. Your stash is safely kept and is guaranteed as they have purchases an insurance cover for their storage vaults.
How Coinbase works?
The most important thing to know is that Coinbase has a strong backing from the major financial industry movers including The New York Stocks Exchange. This means that the virtual currency business is fast becoming a major profitable activity in the financial industry. The business is licensed by the New York State Department of Financial Services to continue its operations. That plus the major banks that have invested more than the US $100 million into the company should be telling you that they have something here.
Coinbase operates more like a bank than a broker. This is so as the company was the first to receive the virtual currency operation license. This is also because of major integration with the major Banks it is operating with has resulted in the adoption of most Banking laws. For this reason, Coinbase requires one to fill out an extensive personal information and monitor the accounts to prevent money laundering. This should not water down your spirit as their services are secure and guaranteed which is hard to come by in virtual currency.
Is Coinbase safe?
Before venturing into Coinbase, you need to understand its inner working. Is Coinbase safe? This is the first question most people ask me. The answer is yes. Coinbase is very safe. As was mentioned in the above post, the company has invested heavily in insuring their vaults to minimize their losses. Also is the fact that the company is integrated with the major banking industries that also protect their investments.
Having received funds to the tune of US $ 75 million and above over the years since its conception, Coinbase goes, without doubt, one of the most secure virtual currency brokers in the world. This is also factoring in the investment they have received from the Japanese banks and securities exchange. As a rule of thumb, the most secure trader is often the most financed one in the market, and Coinbase is one.
How safe is Coinbase? Very safe. It has been received well in over 30 countries excluding China where it can operate freely without many hiccups. As was stated earlier and this should be in your head by now, Coinbase follows almost similar protocols with the banking industry. For this reason, any operation is well monitored to eliminate the possibilities of losses. This is also the reason why the company has been able to secure credits cards with ease.
Also, the company website has a user-friendly user interface that reduces the chances of making any errors while trading. I repeat again, this is the best place to go especially for the newcomers. The transfer fees are negligible and one can exchange Bitcoins to 159 different fiat currencies. The number of countries in the world. As you see, Coinbase is very safe.