Trade the Smart Way Through Trusted Crypto Exchanges

Trading with Bitcoin is seen as safe and secure. It sure is regarded as one of the smartest ways to generate profits using bitcoins. 

What traders favor the most about using a reliable Cryptocurrency exchange is that you can set up an account within 5 minutes, and deposit a minimal amount to start with. Besides, it is easy and quick to make withdrawals. It is up to you to either open up a demo account or start trading live. 

Novices usually go for the demo account as it lets them spread their wings to get a feeling of what it is like to trade using Bitcoins or Ethereum without losing their money in the process.

Digital Currency Trading Platform for Bitcoins

Are you seeking ways to give your bitcoin trading a sharper edge? Trading in the currency of the future is in the power of your hands. Bitcoin trading is seen as a secure way to exchange money online without the banks or the government getting involved. It is very reassuring to know that bitcoin is regarded as a very high volatile currency. 

Bitcoins were first created in 2009 as a secure and anonymous way to exchange money on the world wide web. Best of all, it is minted and gets traded within a community of networkers without the backing of a government body. Daily, new bitcoins see the light of day thanks to time intensive based algorithms that limit the rate that bitcoins enter the market.

Some digital currency exchange platforms allow one to trade immediately using either a long (buy) or short (sell) trade. Regardless of which direction the currency takes, you get to trade 24 hours per day and you are afforded with the opportunity to get an insider’s view of the trading market at any time.

What is really nice is that some public digital coin exchanges give you a sizeable sign-up bonus when you start trading with EOS. This is one of the securest ways to earn yourself a handsome profit. 

As a result, many new traders opt for this method of trading as the digital coin has become the currency of choice that must be added to your profile. 

Improved features of the Cryptocurrency Trading Platforms

It is even simpler than ever before to trade with bitcoins or any other currencies like Ethereum. This is due to the various improved features that allow for a better overall trading experience. Here are some of the improvements:

  1. Traders can make their selection from eight trading platforms
  2. Mobile trading is now integrated with various leading service providers.
  3. Trading made available for over 60 currency pairs. 
  4. Novice traders will not be left in the dark as they have access to a variety of eBooks, Forex learning tools, and can follow along with a host of webinars to assist them in mastering bitcoin trading.

Broker Support

Furthermore, those new to trading with bitcoins will find extreme value from the support they get from brokers on favorite Crypto exchanges such as rubix.io

To give you an example of what we mean. Brokers on such platforms will be completely transparent with you in every offering. They do not even charge you a commission. Brokers also present you with an enormous variety of trading advantages that will ensure your trading experience turns into an enjoyable, easy, successful and safe one. You certainly cannot attach a price tag to the list of resources and tools that brokers offer traders. 

Benefits When Trading

There are several advantages to be had as a bitcoin trader. 

From the moment you sign up, you are presented with an educational trading webinar that gives you the low down of how it works. 

Various online courses are made available to you to give you an even better insight into the trading world. Also, you have access to free video tutorials and are provided with a free eBook as well. 

Traders can start out with a minimum deposit of $100 and a maximum of $100,000.

The only hiccup is that you have to wait 5 days to get access to your money. However, if you have a Select account, then you only need to wait 24 hours. 

If you are searching for a safe and secure, long-term way to trade bitcoins, then you should opt for a tried and tested digital currency exchange such as Rubix. Brokers will make trading easy and an absolute pleasure. You can look forward to a fully equipped trading website, superb customer support, and complete transparency.

Explaining the Ins and Outs to Cryptocoin Mining

As of now, mining Bitcoin is best left to large-scale operations. Beginner miners can try their hand at three Scrypt-based cryptocurrencies such as Feathercoins, Dogecoins, and Litecoins according to a local cryptocurrency exchange.

Feathercoins and Dogecoins would not yield as much profit using the same mining hardware. However, these are becoming more popular as time goes by. Even Peercoins are said to deliver a decent ROI.

Once, more and more people become part of the crypto-coin rush, your chances to be profitable with mining will become more challenging as costlier hardware will be needed to source coins. You’d have to invest heavily should you wish to carry on mining a particular currency. The best way to make head or tail from all of this is to learn more about the three Bitcoin mining methods. Check to ensure you are in a country where crypto mining is legit.

Is it Worth the Effort to Mine Cryptocoins?

If you take it on a hobby, then crypto coin mining would produce a minimal income. The digital currencies we’ve mentioned are great for ordinary people to mine. You can quickly recoup your $1,000 costs to obtain the hardware in just under two years.

If you think of using it as a second income, then crypto coin mining will not produce substantial results. Only, if you’re willing to part with at least $3,000 to $5,000 upfront to cover hardware costs, you may earn at least $50 a day and more.

Set Some Reasonable and Achievable Expectations for Yourself

If you aim to make yourself a substantial amount of money as a second income, you would be better off buying crypto coins using cash than mining it. Put your digital coins one side and hope these will increase their value. If you are merely interested in making a couple of digital bucks that you can spend somehow, then mining is what you need to do.

Smart miners would do their best to keep electricity cost to a minimum by mining with 4 GPU video cards that will net close to $300 per month.

There are two things you need to think about:

  1. The upfront cost in buying 4 AMD Radeon graphics processing units and 4 ASIC processors.
  2. The crypto coins market value at the time.

On the off chance, your selected digital currency may jump in value as Bitcoin would. Then you may consider yourself lucky as you sit with thousands of dollars in crypto-coins. In other words, your chances of winning are better than winning the lottery.

If you wish to give it a go, then make it your hobby with the expectation of making a small income return. Consider it to be like gold dust rather than actual gold nuggets. Always do your research to avoid scam currency.

How it Works to Mine Cryptocoins

We spoke about mining scrypt coins like Feathercoins, Dogecoins, and Litecoins earlier on. What would be the primary focus of crypto coin mining? You need to accomplish the following three things:

  1. Offer bookkeeping to your chosen coin network in that you would offer your computer for mining purposes where it would verify transactions day and night.
  2. Be rewarded with little bits of coins for providing accounting services.
  3. Make it a habit of keeping your costs to a minimum.

You will require a couple of things to enable you to mine your crypto coins.

  • Database to keep account of your income and keep a record of the ledger transactions.
  • The mining software package that is free and made up of stratum and cgminer.
  • Membership within an online mining pool, which is a community of miners to help boost income stability.
  • Be part of an online crypto currency exchange so you may exchange your coins for cash. 
  • The stable internet connection that produces at least 2 megabits per second if not faster.
  • The cool and air-conditioned area to host your hardware.
  • Custom built PC that is dedicated to mining crypto coins only.
  • A specialized processing device is known as an ASIC mining chip or a GPU chip.
  • A regular house fan to blow air on your mining PC to cool the hardware as mining generates excessive amounts of heat.
  • A burning passion for learning daily about new updates and methods used to ensure you optimize your mining efforts. You need to spend hours studying improved ways to adjust your crypto coin mining performance.

Top Exchange Platforms Have a Different Take on Crypto vs. Credit Card Payments

Cash and credit are both fundamental ideas, to the point that we can sort the multitude of payment methods into just two piles. The first one is a cash pile, namely Bitcoin. However, let’s consider the credit card pile. Credit cards are among the dominant payment methods used on the web. One just has to think of Amazon to know what we mean about acquiring something you like online. All that is required is to key in your credit card details, send it to Amazon’s servers, and they take it from there by talking to a variety of financial systems such as banks, processors, credit card companies, and other intermediaries.

Cryptocurrency exchanges operate differently, which is something we will get to a little later. With intermediaries like PayPal one do not have to worry about providing the seller with your card details not give them your identity. The downside to this is that both you and the seller need to have an account with the intermediary.

Then there were SET during the 1990s, With this setup, the customer didn’t have to send through their credit card details or even enroll with the intermediary. Once you are ready to make payment, the browser would merely pass the relevant transaction details via your PC to a trusted shopping app. The application would then encrypt the data provided with the card details in such a manner that only the intermediary could decrypt it. What went wrong down the line that caused SET to fail?

The fundamental issue was that they lacked certificates, which is a way to securely associate a public key such as a cryptographic identity that is also a real-life identity. This is something the website would manage to obtain from firms such as Verisign. They are known as “certification authorities” It is a case of putting security before usability. This involved all users in getting a certificate, which was not widely accepted. As you can imagine it is about as unpleasant as doing your taxes.

This brings us to the next stage where we go from credit to crypto. The thing is that you have to bootstrap cash. The advantage of doing this is that it prevents a buyer from defaulting on their debt. What is more, that you are opened up to two added advantages from making use of Bitcoin. 

The first would be anonymity. As your card is issued in your name, with a credit card, the bank would track all your spending. Once you pay using crypto (cash), the bank has no claim on your details or the other party once they get to redeem it. What it also means is that the user can keep better track of all the monies they spend.

This is where Chaum’s innovation in the form of cryptography came into the equation in that he managed to figure out how to prevent double spending while keeping the system anonymous.

The way it worked was like this:

  • Once a new note was issued to you, you’d have the privilege of picking a serial number, which you could write down on a piece of paper, then cover it so no one may see it. The person who issued the note would sign it without seeing the serial number. They term it as a “blind signature” or cryptography.
  • This was part of the first digital severe cash proposal. It may work well, but still needs a server that is run by the central authorities, such as the banks. Everyone involved had to trust that entity. The problem is when the server goes down temporarily, the payments would grind to a halt.
  • Another problem that got solved was double spending in that instead of trying to prevent it from happening, they would focus on detecting it once the servers were up and running again. What comes to mind is when airplanes are flying, and a credit card gets used without a verification process. The transactions would be processed later on once they are able to reconnect to the given network. Should the card be denied, then the person who did it would either owe the bank or the airline.

In the same way, Fiat, Naor, and Chaum developed a system that detected double spending after the fact. You can call it an intricate cryptographic dance. Welcome to the world of cryptocurrency ingenuity.

The Top 4 Benefits of Using a Decentralized Cryptocurrency Exchange

To help you understand how a crypto exchange can be of benefit to you, it would be useful to know what cryptocurrency stands for. Let us explain:

  1. Cryptocurrency is digital money they would use code to create it with
  2. It is free of all governmental oversight, and it’s monitored by a peer-to-peer internet protocol
  3. It is encoded to signify one unit of currency.

Some examples of crypto used these days, would be;  Bitcoin, Ethereum, and the Ripple

Now that you gained a better understanding, you may want to know the pros and cons attached to making use of digital currency exchange.

Needless to say, it can be both a blessing and a curse to trade through a decentralized exchange.

People love the fact that you can trade without the interference of a middle person so they can buy and sell as they please.

These exchanges require users to register for an account before they are allowed to trade. The moment they do trade, they can list any crypto coins to sell, or go ahead and buy someone else’s right away.

Following are some of the benefits to do with trading on  a decentralized exchange:

  • Many exchanges run on a decentralized server, meaning it is not located in a single location, but spread around the world. Some of these would exist solely in the cloud. This way of hosting makes it hard to hack and would secure data and funds.
  • Not limited to a physical locale, which makes it harder to regulate or shut a decentralized exchange down. This is good news for those of you who choose to use Bitcoin while living in places where it is deemed illegal.
  • One would be more private as most exchanges would allow individuals to set up an account under another name with little to no approval. This is not something governments would favor, but attractive features for those who are not happy that Big Brother tracks their every move.
  • When you utilize a centralized exchange for storing your crypto funds, then you potentially open yourself to hackers. Whereas a decentralized platform leaves the ownership of such currencies in the hands of users that act within the confines of a peer-to-peer platform.
  • Once you created an account with a trusted crypto coin exchange, you will no doubt have many questions troubling your mind and would want answers to these.

First of all, it would put your mind at ease to discover more information as to why you should be using cryptocurrency.

Top trading platforms will point out why you need to make it your resolve to trade using crypto coins, some of the positives are discussed below:

  • The integrity of transacting – The main benefit is that crypto cannot be transferred to third parties without the input of the user. They would have full control of the currency and the transaction that is hosted on the centralized platform. No third party would be able to manipulate the payment to their advantage. At the same time, the sender cannot reverse their payment.
  • Track any payment 24/7 – When you use traditional banking, you often have to wait three days or longer to be able to track your payment. This creates a lot of uncertainty for both the receiver and the sender of the funds. While cryptocurrencies can be tracked on a second to second basis. This creates security for both the receiver and sender.
  • Security of transactions and currency – Within the online sphere, our world is filled with fraudulent credit card transactions and theft. Rather than being scared that your credit card details are exposed online, cryptocurrencies are currently seen as the safest way to shop online without any risk.
  • You own it – Instead of saving and securing your funds in brokerage houses, investments, or banks, where you are subjected to their TCs, having to pay out huge fees, cryptocurrency lets you keep what belongs to you at no extra charge.
  • Speedier transactions – When you deal with lawyers or are about to buy vehicles or property, you can make yourself ready for a tedious process that takes a longer time than expected due to bank approvals, etc. When using cryptocurrency, you can make immediate payment on any asset acquisitions.

To summarize, using cryptocurrency is not just reserved for the very wealthy, but it is a currency that is in place to simplify the lives of ordinary citizens.