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Pretty much everyone’s heard about Bitcoin since it made such a buzz. It revolutionizes financial markets all over the world. It also brings many benefits which is why it gets a lot of attention. Thanks to them the number of Bitcoin traders and users is growing constantly. So, what do they benefit from?

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First, it’s anonymity. In other words, a username is all you need to have to access your assets. This is combined with a password to ensure their safety. The password is your private key which also serves as a seal of approval for your transactions.

But to make a transaction you don’t need to share your private key. The public key is the one you share with another user. You can use Bitcoin to buy goods or services and you can also use it to swap it for another virtual currency or a fiat currency.

The one benefit that gets a lot of attention is the profit potential. This is what most new traders go for. But trading isn’t as easy as it seems. In other words, you’re going to need to learn how to trade. You can do this thanks to the many Bitcoin trading simulators available.

These are apps that focus on Bitcoin only or they cover other cryptocurrencies as well. You’ll get a virtual market to trade in as well as assets with real-time prices. Also, you’ll get some charts, tools, and other resources that will help you make sense of the market and make better decisions based on them. In short, you’ll get the proper training you need to become a Bitcoin trader. If that seems too complex, then you can always go for the alternative. In other words, you can go for a trading platform.

Among the several platforms out there, you will come across the Bitcoin System platform. It does what any trader would do since it has an algorithm to rely on as well as user input. That’s why you’ll need to make an account to get started with Bitcoin System and you’ll also need to make a small deposit since you’ll need something to trade with. Then you’ll need to go over a couple of tutorials as well as a demo lesson to get familiar with the platform. Once this is done then you can go for a live session and afterward you’ll be able to adjust the settings however you want to.

What Else Do You Need to Know?

There are downsides to Bitcoin too. Volatility is one of them and it’s the reason why there’s a potential for profit but a potential for loss as well. In other words, the value of Bitcoin can change in a short span. This is good for you as a user if the value rises. But if the value drops, then the value of your assets will drop as well.

The next thing to deal with is the security of your assets. Yes, not sharing your private key will keep them safe. But hackers will do all sorts of things to get your Bitcoin. They’ve hacked online exchanges and have stolen assets from users with Bitcoin wallets with low security.

So, to keep your assets safe you’ll need to do some research. In other words, don’t register at an online exchange if it has a history of being hacked. Another thing to research is the wallet you’d like to pick. There are hundreds of them out there and they all offer various features. See what each offers and see if they fit your needs.

By knowing the pros and cons of Bitcoin you’ll have a better idea of what you’re dealing with as a user and a trader. So, make sure to get familiar with the virtual currency.

Naabiae Nenu-B is a Medical Health Student and an SEO Specialist dedicated to flushing the web off fake news and scam scandals. He aims at being "Africa's Best Leak and Review Blogger" and that's the unwavering stand of Xycinews Media.

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Is Elon Musk’s Remark to #Hashledger Is Implying to #Hedera? Is This a Big Catalyst for HBAR Price?

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Hedera momentum is building, and with Elon Musk’s mention of #hashledger at the B-word event, it appears like the Hbarians’ celebration is just getting started. Elon Musk was referring to Hedera, as confirmed by a tweet from a founding member of the HBAR community.

HBAR is a cutting-edge technology that is being used by businesses all around the world. Hedera has grown to become one of the largest crypto networks in the world. As additional transactions are added to the network, the speed of transaction verifications rises, but it remains entirely undetected. It’s big and has a lot of uses, and it’s one of the big players. 

Also Read : Elon Musk Reaffirms Support For Bitcoin in the B-word Event, Markets Sentiments Turned Bullish!

HBAR Price Analysis

Although the HBAR price is currently bearish, the cryptocurrency price began surging at the start of 2021, and the positive trend lasted until mid-March when it reached an all-time high of $0.45. The currency failed to break through the all-time high price in April before entering a bearish trend that has lasted till today even though the asset was seen trading in the green zone in the past week.

Hbar closed the day at $0.17. Hbar is currently trading at $0.16, after a bearish start to the day. In the previous 24 hours, the price of HBAR has risen 2.51%. Currently, Hbar must avoid the key initial support level of $0.15, which is followed by $0.14 and $0.13. The biggest resistance level on the upside is $0.20, followed by $0.25. As long as it retains a critical support level, HBAR will resume its bullish trend. 

Since its ATH, the lowest price was $ 0.139984. (cycle low). Since the last cycle low, the highest HBAR price was $ 0.212739. (cycle high).

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Polkadot Will Compete with Ethereum to Reach a Price of $100, Expects Industry Veteran

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Crypto-fintech expert and industry veteran Keith Bliss, the president of fintech solutions provider company Capital2Market, believes that Polkadot, the ninth-largest cryptocurrency in the market, may witness significant growth in the next three years

Keith Bliss: A Veteran in the Industry

Keith has remained associated with the fintech industry since the late nineties. At the beginning of his career, he sold time-order-management systems. The large buy-side asset managers were Bliss’s clients. Gradually he moved on to the dealings of electronic trading systems. These systems created a link between the institutional buy-side players and the sell-side players, facilitating seamless equity transactions for Wall Street. 

Bliss has been a witness to the fintech industry’s gradual growth. His experience in the industry makes him optimistic about the evolution of cryptocurrencies and the process of asset tokenization. But his reasons to believe in Polkadot’s potential growth story go far beyond the general hopefulness around the crypto industry.

The Factors Driving Polkadot’s Growth

Keith believes that Polkadot will grow in the imminent future as a competitor to Ethereum. To back his claim, Bliss cites the growing inclination among developers to turn to Polkadot as a foundation for building their platform. But why is it so? 

As we know, Ethereum, unlike Bitcoin, is seen more as an enabler of application development than as a store of value. Its smart contracts and other technological benefits have immensely helped DeFi to grow in applicability and usage. Yet, when developers develop something on Ethereum, the additions get coded right onto its blockchain. With a growing number of applications, these coded additions stunt the transaction speed of Ethereum and take a toll on its scalability. 

Polkadot solves this problem through its bridges. Polkadot can connect with other blockchains through bridges. Such a bridging system allows developers to work with their applications without building right into Polkadot’s main blockchain. Resultantly, Polkadot retains its scalability. However, Bliss does not believe that these advantages would make Polkadot replace Ethereum, as Ethereum already has a much higher adoption rate and is working on future upgrades. But, Polkadot will emerge as one of the strongest competitors of Ethereum. 

Estimating the Future Price of Polkadot

On one hand, Polkadot is a new entrant in reputed exchanges like Coinbase. It also does not have products like Ethereum ETFs or ethereum futures. But, at the same time, it has parachains, independent blockchains that connect to and run off its network. These parachains can attract developers in bulk to turn towards Polkadot as their preferred DeFi application protocol. As the developer pool grows, the Polkadot ecosystem can continue to prove that it’s here for the long term.

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Altcoins To Surge Nearly 80% To 150% In Upcoming Bull Run!

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The crypto space is experiencing a huge roller coaster ride nowadays and the previous day surge was the phenomenal one. Amid the B-Word Event, the Bitcoin price gained a notable push and the other altcoins also ranged above the levels. Currently, the Ethereum price is all set to propel high with notable gains. However, the second half of 2021 is expected to be more fruitful.

It is a known fact that the crypto market flows with the BTC price and hence a substantial jump could ignite the altcoin market. Currently, the price is attempting hard to break the immediate lower high above $33,000. And later the rally above $35,000 seems to be imminent which could ignite the price to head towards $40,000. The price needs to sustain above these levels and this is when the altcoins could rise more than 80%.

The bitcoin price received some bullish moves from the event. The price was pushed to $32,600 and before it could register new highs, a strong rejection wick hindered the uptrend. Currently, the price is trying to hold above $32,000 and in order to continue with a bullish momentum, the price is required to smash $33,000. 

btcchart

Despite a substantial push, the price still failed to smash the upper trend line and initiated a consolidation. The rectangle box signifies crucial ranges to hold on to in order to propel further. The altcoins like Ethereum(ETH), Cardano(ADA), Stellar(XLM), Polygon (MATIC), XRP, AAVE, etc and many more could record a series of double-digit gains in the coming days. 

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  • bitcoinBitcoin (BTC) $ 32,503.00
  • ethereumEthereum (ETH) $ 2,037.75
  • tetherTether (USDT) $ 1.00
  • binance-coinBinance Coin (BNB) $ 286.72
  • cardanoCardano (ADA) $ 1.17
  • xrpXRP (XRP) $ 0.590460
  • usd-coinUSD Coin (USDC) $ 1.00
  • dogecoinDogecoin (DOGE) $ 0.190134
  • polkadotPolkadot (DOT) $ 12.79
  • binance-usdBinance USD (BUSD) $ 1.00
  • uniswapUniswap (UNI) $ 17.49
  • bitcoin-cashBitcoin Cash (BCH) $ 440.22
  • litecoinLitecoin (LTC) $ 120.06
  • solanaSolana (SOL) $ 26.88
  • chainlinkChainlink (LINK) $ 15.59
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 32,502.00
  • stellarStellar (XLM) $ 0.257917
  • matic-networkPolygon (MATIC) $ 0.886402
  • ethereum-classicEthereum Classic (ETC) $ 43.92
  • daiDai (DAI) $ 1.00
  • compound-usd-coincUSDC (CUSDC) $ 0.022102
  • theta-tokenTheta Network (THETA) $ 4.71
  • internet-computerInternet Computer (ICP) $ 32.96
  • vechainVeChain (VET) $ 0.066103
  • filecoinFilecoin (FIL) $ 45.66
  • cdaicDAI (CDAI) $ 0.021561
  • tronTRON (TRX) $ 0.054897
  • moneroMonero (XMR) $ 198.05
  • aaveAave (AAVE) $ 276.97
  • okbOKB (OKB) $ 12.69
  • eosEOS (EOS) $ 3.51
  • shiba-inuShiba Inu (SHIB) $ 0.000006
  • cosmosCosmos (ATOM) $ 11.12
  • ftx-tokenFTX Token (FTT) $ 28.54
  • terra-lunaTerra (LUNA) $ 7.28
  • compound-ethercETH (CETH) $ 40.89
  • crypto-com-chainCrypto.com Coin (CRO) $ 0.111173
  • leo-tokenLEO Token (LEO) $ 2.77
  • pancakeswap-tokenPancakeSwap (CAKE) $ 13.07
  • algorandAlgorand (ALGO) $ 0.786091
  • celsius-degree-tokenCelsius Network (CEL) $ 5.75
  • amp-tokenAmp (AMP) $ 0.050665
  • klay-tokenKlaytn (KLAY) $ 0.960631
  • bitcoin-svBitcoin SV (BSV) $ 123.51
  • makerMaker (MKR) $ 2,436.62
  • tezosTezos (XTZ) $ 2.59
  • compound-governance-tokenCompound (COMP) $ 397.41
  • axie-infinityAxie Infinity (AXS) $ 38.31
  • terrausdTerraUSD (UST) $ 1.00
  • neoNEO (NEO) $ 28.54
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