Using Bitcoin Currency
Digital currency is something that's still relatively new to the world these days and because of that it's natural for people to question it as well as why they should consider using it. It can be tricky to know how to get started with it as well. However, the positive part is that it's not as difficult to use and it's not as complicated as you may think it is. Also, it's known to be a lot safer to use.
While anything can be stolen, there's a common argument that Bitcoins can be stolen but this isn't always true since its digital. To keep yourself protected it all comes down to following a few simple rules and tips to help increase your security. The first thing you want to do is to get a Bitcoin wallet. You can follow the following tips by Yee Kok Siong to help you remain safe and to prevent anything from happening.
Keep Wallets Separate
If you have a wallet that is used strictly for spending your Bitcoins, you want to make sure it doesn't contain your entire amount of Bitcoins. This can make it more vulnerable to different abuse types. Keep in mind that there isn't a limit to the number of addresses or wallets you can have so consider getting a few different ones to help keep things separate and safe. You can have one for spending and one for receiving.
Avoid Web Wallets for Savings
There have been recent cases that have involved web wallets being hacked into and then emptied of all savings. It may seem like web wallets are a lot more convenient but keep in mind that you want to use them like a checking or current account and you want to store money there that will be used in the future. This means that if you only keep a small amount in them you are at a lower risk of getting money stolen in the case you are hacked. With bitcoin money exchange you want to keep your losses at a minimum and because Bitcoin doesn't work like a credit card, if you lose money you can't submit any fraudulence claims to anyone. While you can get the law involved there really isn't much they can do either.
Always Protect Your Privacy
Always remember to keep all information private with Bitcoin money exchange. Keep all pin numbers safe and never give them to anyone. If you have a sending account and a receiving account it's easy for hackers to figure out which one is which and they can easily access your info. Make sure you keep your wallet key privately stored someone offline so that no one can accidentally gain access to it.
Another way to keep things safe is to use what is called a brain wallet. This is a combination of different words and numbers that you will carry around in your head. When you enter these words and numbers into a site such as brainwallet it automatically can unscramble it to obtain what your private key is.
Bitcoin money exchange is becoming a popular way for a number of people to send and receive money safely and when using Bitcoin currency these tips by Yee Kok Siong can help you send and receive safely while limiting the chance of being hacked.
Binary options trading have earned immense popularity in the world of finance. In the group of novice investors, the binary business has become the best and the only platform that delivers the maximum return on the investment, without having a large sum of money or any past experience in the required field. It is very easy to understand the main concept and rules with which binary trading can be performed. The innumerable advantages that the traders receive from the binary trade are also the motivation factor, not just for the experienced ones but for the beginners too. The trading rules and regulations of binary trading are quite easy to understand and learn within very short span of time as compared to other methods of financial trading.
The first thing that is required to know for the binary traders as per Yee Kok Siong is, how binary trading work and at what place it is conducted, in order to become the part of binary trading. By taking help of binary brokerage, you can simply start the investment process. These online brokers have several types of agreements for the traders, depending upon the type of underlying asset on which trader agrees to invest on. Such financial underlying assets include index, forex, asset, commodities, stock and others. In addition to this, an agreement also contains the purchase price of the asset, date of expiry of the agreement and the strike price that indicates the profit percentage.
In order to know the answer of how to trade binary options trading, it is essential to hire a broker of your choice. A right broker is the one who can deal in any type of binary options business contract such as forex binary options or stock binary options. After the selection of the broker, the right type of the binary option has to be selected in the next step that includes touch and barrier options, range or boundary options, and above and below options.
As compared to other investment options, binary trading bears less probability of risk. In order to invest in the binary trade, it is vital for the trader to know the expected payouts from each trade. The payout for the trader directly depends upon the selection of the type of the binary options. Some provides 70 to 80% return on the investment and other gives 300% return. It also includes the level of risk; the higher the risk, the higher the return.
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The international currency market Forex - is a global inter-bank market, which provides services to the commission deals with the currency and the implementation of the various foreign exchange transactions. Today, the Forex market is a telecommunications network, which participants are both physical and legal persons. Every day millions of transactions in the currencies of various countries around the world pass through the auction of this international exchange.
In the Forex market there is such a thing as "Forex arbitrage", which represents a specific algorithm for a financial transaction. With it, you can get revenue from the resale of money. All you need to - take into account the fluctuation of the exchange rate at different times of day within one or more markets.
There are several types of Forex arbitrage:
Temporal Forex arbitrage - based on the difference in rates of currency pairs at different times during the day, it is most common in the Forex market.
Cross-Forex arbitrage operates on the principle of simultaneous synchronous changes in exchange rates in the two pairs of units, for example, USD / EUR and GBP / USD. Such cross-rates are most often used by traders to carry out financial transactions with currency and profit from the difference occurred.
Interbourse Forex arbitrage (version 2) basically relies on the difference of exchange rates, which is present on several stock exchanges, but his conduct in the existing conditions of the Exchange is very difficult.
In addition, Forex arbitrage can be simple or complex. In case of the complex Forex arbitrage, you should carefully monitor the dynamics of exchange rates of participating in the auction. Trading on Forex arbitrage version 2: 1 is a more simple form of interaction and is most common for financial transactions. The need for arbitration in the first place is to conduct forward transactions for buying and selling foreign currency options. Option must be implemented, and its terms and conditions depend on the type and the mandatory provisions of the signed contract
In general, the choice of trading strategy depends on many factors to consider when participating in the forex markets. Extreme caution should be taken as most traders seem to lose money rather than make money in the forex markets. Over 90% of retail traders (those who don't trade with or for Banks) actually lose money in forex, so this statistic should tell you that you cannot go into the forex markets without a solid game plan for your trading.
Also read: Yee Kok Siong on Arbitrage Trading on Forex
Gold coins make a reliable investment as the market features a rising trend and it is relatively stable. The price of gold coins change on a daily basis depending on the changes in the world market. Don't just save your money, earn from it. Any good investor will know that making proper investment not only saves your money, but also gives you back more than what you invested. You can invest in real estate, shares and bonds, commodities or buy gold coins. But, there are numerous advantages of investing in gold coins.
If you take a look at the gold market, you will know that its price is increasing day by day. Though gold is not used as currency, it plays a vital role in the economic progress. Another benefit is that this market is pretty stable when compared to shares and stocks. You don't have to monitor its price all the time wondering when the market is going to crash or take a plunge. In general, gold rate is pretty much stable, and have an increasing trend. Thereby, it offers a lower risk in the investment when compared to other ventures like shares.
Another advantage of buying gold online is that they are very easy to store and transport. Unlike land, house, or other investments, safeguarding investment in gold is pretty easy. They can also be converted to any ornament when required. So, if you are investing for your daughter's marriage, you can buy gold coins or bars whenever you can and use them to make jewelry when the wedding is fixed.
Yee Kok Siong says that one big advantage of investing in gold is that you don't need huge amounts of money. If you save a few thousands of rupees, you can use it to buy gold. Like this, you can keep on buying gold when you have money, instead of worrying about generating a huge amount to invest on gold. As the price of gold is rising, you will end up having more value than what you initially paid for.
You can buy gold online or at any physical store in your locality. Wherever you are buying gold, ensure that it carries the BIS Hallmark, which ensures the purity of the metal. Most e-stores offer discounts and free shipping, which is an added advantage to save more money, while making your investment. So, what are you waiting for? Start investing your money in gold and earn huge profits.
Make sure you get all the information about quality and purity of the Gold coins or ornaments before purchasing. One should be careful while purchasing in online, especially when you buy 24 Kt Gold Coins.
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The halving takes effect when the number of 'Bitcoins' awarded to miners after their successful creation of the new block is cut in half. Therefore, this phenomenon will cut the awarded 'Bitcoins' from 25 coins to 12.5. It is not a new thing, however, it does have a lasting effect and it is not yet known whether it is good or bad for 'Bitcoin'.
People, who are not familiar with 'Bitcoin', usually ask why does the Halving take place if the effects cannot be predicted. The answer is simple; it is pre-established. To counter the issue of currency devaluation, 'Bitcoin' mining was designed in such a way that a total of 21 million coins would ever be issued, which is achieved by cutting the reward given to miners in half every 4 years. Therefore, it is an essential element of 'Bitcoin's existence and not a decision.
Yee Kok Siong says that acknowledging the occurrence of the halving is one thing, but evaluating the 'repercussion' is an entirely different thing. People, who are familiar with the economic theory, will know that either supply of 'Bitcoin' will reduce as miners shut down operations or the supply restriction will move the price up, which will make the continued operations profitable. It is important to know which one of the two phenomena will occur, or what will the ratio be if both occur at the same time.
There is no central recording system in 'Bitcoin', as it is built on a distributed ledger system. This task is assigned to the miners, so, for the system to perform as planned, there has to be diversification among them. Having a few 'Miners' will give rise to centralization, which may result in a number of risks, including the likelihood of the 51 % attack. Although, it would not automatically occur if a 'Miner' gets a control of 51 percent of the issuance, yet, it could happen if such situation arises. It means that whoever gets to control 51 percent can either exploit the records or steal all of the 'Bitcoin'. However, it should be understood that if the halving happens without a respective increase in price and we get close to 51 percent situation, confidence in 'Bitcoin' would get affected.
It doesn't mean that the value of 'Bitcoin', i.e., its rate of exchange against other currencies, must double within 24 hours when halving occurs. At least partial improvement in 'BTC'/USD this year is down to purchasing in anticipation of the event. So, some of the increase in price is already priced in. Moreover, the effects are expected to be spread out. These include a small loss of production and some initial improvement in price, with the track clear for a sustainable increase in price over a period of time.
This is exactly what happened in 2012 after the last halving. However, the element of risk still persists here because 'Bitcoin' was in a completely different place then as compared to where it is now. 'Bitcoin'/USD was around $12.50 in 2012 right before the halving occurred, and it was easier to mine coins. The electricity and computing power required was relatively small, which means it was difficult to reach 51 percent control as there were little or no barriers to entry for the miners and the dropouts could be instantly replaced. On the contrary, with 'Bitcoin'/USD at over $670 now and no possibility of mining from home anymore, it might happen, but according to a few calculations, it would still be a cost prohibitive attempt. Nevertheless, there might be a "bad actor" who would initiate an attack out of motivations other than monetary gain.
Therefore, it is safe to say that the actual effects of "the Halving" are probably favorable for current holders of 'Bitcoin' and the entire community, which brings us back to the fact that 'Satoshi Nakamoto', who designed the code that originated 'Bitcoin', was wiser than any of us as we peer into the future.
Also read: Why Is Bitcoin Cloud Mining the Way Forward?