Trading robots are rather common in the bitcoin world, as few traders have time to stare at the charts all the time. Many people trade bitcoin as a method to produce easy revenue while functioning their routine day works.
With a lot of individuals relying upon these trading robots, the question ends up being which one can be relied on and also which one ought to be avoided.
Below is a checklist of well-known cryptocurrency trading robots, however, your gas mileage might differ when using them.
The Haasbot is rather preferred among cryptocurrency enthusiasts. Theoretically, Haasbot does every one of the trading legwork on behalf of the individual, although some input is called for.
Haasbot sustains all the significant exchanges and also can understands the candle stick patterns.
Considering it costs between 0.06 BTC and 0.17 BTC per three-month period to use this service, one needs to be dedicated to making use of this software program and hopefully make a profit from doing so.
One more open-source alternative for bitcoin traders goes by the name of Zenbot.
Albeit this bot has actually not seen any type of significant updates over the past few months, it is offered to download and also customize the code if needed.
This notes the 4th version of Zenbot, which is still a light-weight as well as artificially smart bitcoin trading bot.
It is likewise one of the very few bitcoin trading robots, efficient in high-frequency trading as well as sustaining numerous assets at the very same time.
Per their GitHub page, Zenbot 4 makes a 195% ROI in just 3 months, which is rather unusual.
One of the more attractive and yet un-identified bitcoin trading robot has the name of CryptoTrader.
The service offers cryptocurrency users automated trading robots working on cloud platforms.
Not having to mount unknown software is a large plus, albeit it remains to be seen if this system is legit.
One appealing attribute is just how CryptoTrader approaches the market where any person can buy or sell using their favored trading approach.
The Gekko bitcoin trading robot is another open source software remedy that could be located on the GitHub platform. It was last updated about 10 days earlier, which seems to indicate it is still being proactively developed.
Utilizing this automated trading robot appears to be simple, as it also has some basic approaches. It is not a high-frequency trading robot whatsoever, nor will certainly it make use of arbitrage possibilities.
With an excellent listing of supported exchanges, Gekko can be worth looking into.
One of the first automated bitcoin trading robots to ever be created – the BTCRobot.
While it appears to do the job and is fairly very easy to establish. Reaping profits using this tool could greatly differ when using this tool. Some people appear to be making moderate profits. Whereas others appear to have a hard time to get it to function correctly.
A single license costs about $19.99 per month. The platinum plan costs about $399 one time payment with a premium support.
There is a 60-day refund plan, that makes it a no-brainer to check out no matter.
Before we go into Bitgo Review – let us understand Bitgo’s nature of business. The business specializes in providing secure wallet solutions to corporations and companies including several cryptocurrency exchanges.
Bitgo also concentrates on multi signature wallet options, which can be among the best security innovations Bitcoin users have observed thus far.
Knowing the business also gives a them a user friendly and better alternative; makes them stick out from their competition.
BitGo Review – About the Company
Bitgo as a company originally started out as a wallet service provider to the first crypto curreny, the Bitcoin.
That isn’t always a good thing, as a centered crypto-wallet means consumers aren’t the only ones using private keys.
The ever growing bitcoin business expanded their wallet to encourage mobile suppliers – Android and iOS too.
With the protected app – Bitgo users could store their wallet’s private key on the mobile devices itself.
The online version lets users export their personal key to a different wallet solution as well.
Regrettably Bitgo is not an open source solution and it is doubtful that will ever change.
To some people, this is a major drawback; whereas many others aren’t overly bothered about it.
On the upside, Bitgo supplies multi-signature options to all its users.
Furthermore, there is a choice to add even more safety to the internet based wallet in the form of two-factor authentication. With Google 2 Step Authenticator or some other.
Convenience and safety frequently don’t mix that well, but Bitgo reveals it could be carried out.
However it doesn’t provide users with total anonymity, but this is not something most individuals are looking for these days.
There are also no additional features to take advantage of, but that isn’t a deal breaker either.
Altcoin Wallet – Bitgo Ethereum Wallet
For any altcoin users like Ethereum, they have also developed an Ethereum wallet which uses the same Bitgo’s bitcoin wallet technology.
In fact, the Ethereum based wallet is built by most of the developers who are working on the Bitcoin wallet.
This project is referred to as Ether.li, also features all of the same aspects one can find in the Bitcoin wallet offered by Bitgo.
Even it offers a multi-signature solutions for Ethereum users, which will be valued by a few users.
Bringing this functionality to distinct cryptocurrencies is a smart strategy by Bitgo.
BitGo Review – Final Thoughts
Ultimately, it’s really hard to find any defects at the Bitgo wallet.
Utilizing the internet version means; private keys aren’t created in a secure fashion; even though users may protect them with a password.
All their mobile apps work like a charm, with no end user surprises.
Advanced crypto currency users who are not searching for any multi signature support may find the waeet a bit boring; but for new users, it is really a powerful alternative.
There’s not any reason not to provide Bitgo wallet a go.
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Cryptocurrency is a digital electronic that’s not issued by a government, unlike traditional currencies; but rather created electronically as the generation of cryptocurrency units. The verification of transaction processes is controlled by complex encryption techniques performed by computers instead of a Central authority.
Bitcoin, the first cryptocurrency in the world, was lanuched in 2009 by an anonymous programmer (or group of software developers) who goes by the pseudonym ‘Satoshi Nakamoto’.
In this article we will be talking about Bitcoin; specifically as it is the first cryptocurrency created and #1 in the world of cryptocurrencies.
But first of all, we need to understand what distinguishes bitcoins; (or Cryptocurrencies generally) from conventional currencies and what are their distinctive properties.
So what makes Bitcoin or Cryptocurrency so unique?
Bitcoin is characterized mainly by being digital as it is produced by computers through a process that’s called “Mining”; which involves complex encryption techniques and has no physical properties.
“Bitcoin Mining” is the definition given to the process through which bitcoins are generated and the transactions are added and verified. ”Mining” is performed by special fast computers solving complex mathematical problems; using the appropriate software in order to create or “mine” bitcoins and get rewarded with bitcoins in return.
For each block that is generated the miner is rewarded with 25 bitcoins. This value is halved every four years until all bitcoins are mined (yes the total number of bitcoins to be ever mined is limited).
In the current financial system, central banks along with other political institutions are responsible for controlling and regulating the processes of monetary units generation.
On the other hand, Bitcoin is a decentralized cryptocurrency as the process of its generation is not controlled by any government or central authority. The supply of bitcoins depends solely on the efforts exerted by the miners.
Bitcoin is a virtual currency, as the private keys for your bitcoin addresses (which are used to access your bitcoins) are stored in digital wallets.
So a Digital Wallet is the first thing you need to have in case you want to buy bitcoin. There’s a variety of digital wallets to choose from.
You can have your digital wallet on your desktop or on your mobile or have an online digital wallet, or you can have it as a physical device (which is considered by many to be the safest and most secure storage option.
Another options for bitcoins storage include storing at an Exchange (which offers several services as well like exchanging, sending and receiving bitcoins) and there are many competing Exchanges and wallet providers at the moment so it won’t be difficult to find one nearby.
Bitcoin is a peer to peer currency, meaning Bitcoin operates on a network of user based computers, and the bitcoins are transferred from one party to another across the internet with no 3rd party needed for the transfer process to be completed but the whole network nodes are responsible for monitoring and verifying the transaction process and that is the main idea of the Bitcoin mechanism.
We mentioned before that miners and the connected nodes of the network are responsible for monitoring and digitally regulating the transaction processes that take place between senders and receivers.
And as we know now, bitcoins are stored in digital wallets. Each of these wallets has a unique private key used and known only by the user and a public key which is considered to be the user’s payment address.
In order to understand how transactions work, there are 3 main parameters that are needed to be known and specified for a transaction process to be initiated
The address of the bitcoins sender
The address of the bitcoins receiver
The amount of bitcoins to be transferred from the sender to the receiver
The transaction carries a digital signature that is produced when the private key of the user is mixed with the data he wishes to send in a mathematical algorithm and each transaction has its own digital signature.
When sender “A” decides to send an amount of bitcoins games to receiver ”B” through Internet, the transaction with its data is combined with other requested transactions that are requested at the same time to be recorded in what’s called a “Block”.
Each block has its unique ID, time of the process and a reference to prior block.
The block is then broadcasted to each node in the network.
For a transaction process to take place, all the nodes of the network have to confirm the validity of the process and the authenticity of the digital signature using the public key of the user. This process also prevents
double-spending from taking place making Bitcoin a safe middle of exchange.
Once verified by the nodes of the network, the “Block” representing the transaction is then added to what’s known as the “Blockchain” which is a distributed public ledger shared by all the nodes of the network and functions as a database where all the transactions process are stored.
We can think of a blockchain as a giant ledge containing all the transactions that ever happened. Once a block is added to the blockchain, it cannot be modified nor can it be removed.
“We define an electronic coin as a chain of digital signatures. Each owner transfers the coin to the next by digitally signing a hash of the previous transaction and the public key of the next owner and adding these to the end of the coin. A payee can verify the signatures to verify the chain of ownership.” – Satoshi Nakamoto
How to acquire bitcoins?
Currently there are two methods to get bitcoins:
1 – Become a “Miner”: which is not recommended if you are a beginner as it requires expensive efficient mining hardware (like FPGAs and GPUs) for the mining process to be profitable because using slow CPUs is not a practical solution at all considering its poor output with respect to time.
2 – Buy them: You can buy bitcoins through an Exchange or online by yourself using your fiat money or credit card, but, as we mentioned earlier, you will need a wallet in which your bitcoins can be stored.
At the Exchange, things work the same way they work at Stock Exchange, a buyer offers to purchase an amount of bitcoins with the price that he wants to pay for each bitcoin, and a seller offers to sell an amount of bitcoins with the price at which he wants to sell each bitcoin.
When the price placed by a buyer matches the price placed by a seller a trade takes place automatically.
And this how the price of a bitcoin is determined (At least for now because the number of bitcoins generated is still increasing and will continue to increase till all bitcoins are mined, after that the value of the bitcoin won’t rely really on its Supply but might rely on its Scarcity or on other variables) with the exchanges being responsible for organizing the trades between buyers and sellers and fixing the price of bitcoin according to the supply and demand of the cryptocurrency.
Here’s a list of some famous Bitcoin Exchanges by country:
The United States
Bitstamp: recommended because of the low trading fees it imposes on Bitcoin trades
Coinbase: one of the top Bitcoin exchanges that offers wide variety of services including: storing, exchange, buying and selling bitcoins and other cryptocurrencies like Litecoin and Ethereum as well. It operates in 32 countries.
Cryptsy: platform that offers its services for different cryptocurrencies and not just Bitcoin.
Kraken : operates in the U.S, Canada, the E.U and Japan.
Peer to peer bitcoin lending platforms are places for the borrowers to borrow bitcoins and the lenders to lend bitcoins to borrowers at specific interest rates. As the name suggests, these are peer to peer networks; where the files and data are sent to and from nodes; without the need of a central server which provides security to the clients.
Peer to peer bitcoin lending platforms offer lenders relatively high monthly interest rates that range from 3% to 8%.Though Lenders don’t pay fees, however borrowers do (but they are considerably low).
And in case you’re looking for low-risk options, you can open a bitcoin saving account, deposit any amount of bitcoins into your account and earn interests.
Here the three current best peer-to-peer bitcoin lending platforms:
1-Loanbase : Based in San Francisco and launched in 2013; Loanbase is considered to be one of the world’s largest peer to peer bitcoin lending platform. Borrowers and lenders from all over the world meet there to borrow and lend bitcoins.
2- Bitbond : founded by CEO Radoslav Albrecht, Bitbond is one of the safest peer to peer bitcoin lending platforms. It has facilitated bitcoin loans for more than 1,500,000 USD and has over 80,000 registered users. It has the AutoInvest tool which makes auto-investing easier.
3- BTCPop : Based in the UK, BTCPop is the world’s largest peer-to-peer bitcoin lending platform , it operates in over 60 countries and it is the first Bitcoin bank in the world!
Bitcoins can be used in games and they can be mined too by playing games. There are two types of games that involve the cryptocurrency: Mining games, where you play mobile games, solve puzzles , and answer questions to get bitcoins in return,however you don’t really earn that much from mining games but in the end of the day you play games and get bitcoins in return so it doesn’t sound bad!
Here’s a list of the best Bitcoin Faucets
And there are Gambling games and Casino games like Poker, where you use bitcoins instead of traditional money.
Challenges facing the fast-growing cryptocurrency
Bitcoin and cryptocurrencies face a number of massive challenges due to their unique characterstics.
The biggest challenge with Bitcoin is the extensive energy consumption of Bitcoin mining process. According to Digiconomist, the amount of energy consumed in Bitcoin mining process combined with the amount of energy consumed in Ethereum mining process exceeds the amount of electricity used by Jordan , Syria, and Iceland all combined. However ,according to researchers, modifications to the PoW systems is one way to reduce high-energy consumption.
Renewable energy sources can be used in the future for the Bitcoin mining process to be more efficient and sustainable.
Since the mathematics behind the Bitcoin system limit the number of the bitcoins to be created; the maximum number of bitcoins to be ever generated is fixed (It is said to be around 21 million); which consequently means that the value of bitcoin will eventually rely solely on its demand which in turn depends on several factors like the trust in the Bitcoin system , the utility and flexibility of Bitcoin as a currency, the investors , the governments, and the energy needed to keep the system going (which one of the major challenges facing the fast-growing digital currency at the moment ).
By the end of 2009, the year in which the bitcoin was launched, over 1.6 million bitcoins have been generated. The number of generated bitcoins increased dramatically to reach 5 million by 2010. And by 2012 the total number of bitcoins that have been mined reached 10 million.
As of April 2014, the total number of Bitcoin users surpassed 2.5 million with a monthly average growth of 5.46%
The number of merchants, businesses and retailers who accept bitcoins as payment is increasing as well. According to Overstock.com Inc. board member Jonathan Johnson , the cryptocurrency transactions processed had tripled since the Internet retailer decided to recognize Bitcoin as a method of payment.
Legal Status of Bitcoin
Many governments have serious concerns regarding the anonymity aspect of bitcoin. Despite the fact that each of the transactions that happen in the Bitcoin system is recorded in a public ledger; the identities and names of buyers and sellers remain secret (except their wallet IDs of course) . While that protects bitcoin users’ privacy, officials are concerned about the possibility that Bitcoin makes money laundry and the transactions in underground economies easier . And unfortunately Bitcoin ,since its creation, has been used widely by criminals to trade illicit goods and fund their illegal activities.
Some governments are working toward imposing regulations on Bitcoin and the other cryptocurrencies, which in turn strengthen the legitimacy of digital currencies. While some others adopted an unfriendly attitude towards the fast-growing digital currency. Russia has taken an action against Bitcoin banning the digital currency and the government prohibited individuals and entities from using cryptocurrencies.
The E.U recognizes the cryptocurrency as a convertible currency. A few days ago, the government of Australia has introduced a bill that would impose regulations on the decentralized global digital currency in an effort to counter money laundering and terrorism funding. And earlier this year, Japan recognized Bitcoin as a legal method of payment.
In China ,the country whose mining pools control about 70% of the Bitcoin network’s hashrate, possession and trading of bitcoins by individuals is totally legal, however the government did not impose regulations in favor of Bitcoin, yet.
For more information about Bitcoin mining in China , check this link. https://www.buybitcoinworldwide.com/mining/china/
In the United States, a congressional hearing was held in November 2013 to discuss the legitimacy of cryptocurrencies including Bitcoin. At the hearing, a federal judge representing the Department of Justice described the virtual digital currency as a “legal means of exchange”.
In March 2014, the IRS (Internal Revenue Service) which is responsible for collecting taxes released guidance regarding possession of virtual currencies, and the guidance recognized “Bitcoin” as “property”. In July of the same year, the New York State Department of Financial Services imposed regulations in favor of Bitcoin. Bitcoin is accepted as a method of payment by many U.S based retailers and companies; such as: Dell Inc, Overstock.com, WordPress , GYFT and Amazon.
In India, there are many Bitcoin exchanges that operate in the country and Indian authorities are researching Bitcoins and holding hearings to discuss the future of the legal status of the virtual currency in the country.
According to Sandeep Goenka , the CEO of Zebpay, the number of Indians interested in investing in Bitcoin is increasing rapidly.
The Future of Bitcoin
The 7 years following the creation of Bitcoin proved that cryptocurrencies have the potential to replace traditional currencies; and could be the next big thing of the 21st century. With their values skyrocketing and rising up after each drop they experience. 2017 was a great year for cryptocurrencies and Bitcoin specifically, as Australia and Japan recognized Bitcoin officially as a method of payment; to impose regulations on the digital currency and the value of promising currency hit an all-time record high climbing above $4500 just a recently.
Bitcoin is still in its infancy and still has a long way to go before it can replace traditional currencies but it did prove that it has the potential to become the future of the financial world.
Interested in bitcoin? Looking for ways to easily earn free bitcoin? Love playing games? How to earn bitcoins playing games? Look no further, because all you have to do to earn free bitcoin is to play a few games online!
It may come as a surprise, but there are tons of websites out there featuring free games that you can play to win bitcoin as a prize. If you’re already playing games in your free time, why not make some virtual cash while doing it?
In this article, we list several different types of games, from quiz to mobile, in which you can play for free bitcoin. If we’ve missed any on this list that you know of, feel free to send us a message or suggestion.
Note: As always, remember that playing games for bitcoin isn’t a way to get rich off of bitcoin. It is, however, a great way to earn a bit of money with a little bit of fun.
Maybe you majored in finance in college or you have an interest in money. Either way, there are some financial games out there that you can use to earn your first bitcoin. One of the most prominent financial games here is SparkProfit.
SparkProfit is a financial simulation game in which you try your hand at making predictions about real financial markets. Imagine trading stock, but without losses and only bitcoins to be gained. And, you can trade in digital currency markets too! In this game, the better you do, the more you earn. Unlock more currencies as your predictions are more successful and build up points. If you manage to become a top trader, you could be earning up to $100 in bitcoins per month!
How to earn bitcoins playing business investment games?
If you’re looking for more money related games, but more on the business side, look into FarmSatoshi. If you’ve ever played Farmville on Facebook, this game might ring some bells. In FarmSatoshi, you grow a farm and look after the animals on your farm. It’s simple to get started – get the game and just follow the on screen instructions to easily gain levels in the beginning.
However, to excel in this game, your dedication and time management skills must be delicately honed. You must constantly be upgrading, completing levels, and keeping your hungry farm animals satisfied by keeping their water, corn, hay, carrots, and grain supply filled. Once you’ve built up a healthy thriving farm, the bitcoins easily follow after.
If you love mobile games for their flexibility and ease of use with your smart phone, then look into these mobile games. The first game we want to talk about is SaruTobi, a game reminiscent of Flappy Bird, back in its day. In this mobile game, you’re an 8-bit monkey called SaruTobi that swings around vines in a jungle, collecting bananas and coins along the way. With the bananas, you can upgrade various tools to propel you and help you get around. Any coins you collect are free bitcoins! Get it in the iTunes store for Free and start making free bitcoins today!
The second mobile game is for you Android owners out there – Oh Crop! This game pits you against a plant uprising in an apocalyptic future. Plants come from all sides to bombard you with seeds, vines, and various other plan-related parts. To earn bitcoin from this game, you’ve got to get a top score and appear on the leaderboard.
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.