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BTC on the rise in Argentina

In Argentina, the Bitcoin course in ARS (Argentine Peso) has broken its all-time high. According to Coingecko, the current Bitcoin price is over 389,000 ARS per BTC. In December 2017, when BTC peaked, the price was around ARS 340,000 per BTC. Many media now reported that the Bitcoin exchange rate in Argentina would be converted over 20,000 USD and has thus reached a new all-time high in USD. The current ARS rate was probably not taken into account.

Bitcoin price reaches all-time high in ARS

The economic situation in Argentina is more than dramatic. Although the situation in Venezuela is not yet quite as good as it might be, the local people are still struggling with an extreme depreciation of the national currency. In the last 5 years ARS has suffered over 68% depreciation against USD. Last year alone brought a loss of over 45%. This hyperinflation is making alternative investments increasingly important. Above all, Bitcoin is getting more and more attention.

Although the Bitcoin price has reached the all-time high in ARS, in the same time the ARS/USD price has fallen by more than half. Therefore, also in Argentina the Bitcoin price is not much different than on other international crypto exchanges. Accordingly, this statement is not quite correct. However, the increased demand in the Latin American countries cannot be dismissed.

Interest in Bitcoin and crypto currencies continues to rise

The confidence of the Argentine population in their own government seems to be declining further. Many fear a possible return of the “orthodox” Cristina Fernandez de Kirchner. During her term as president, she had a considerable negative influence on Argentina’s economic policy. Hence the strong demand for Bitcoin and other crypto currencies.

  • Josu San Martin also stressed that the economic situation in Argentina “is not significantly different from any other Latin American currency”.
  • In Argentina, however, confidence in its own economy could decline if support for the presidential candidate Mauricio Macri continued to increase.
  • For a country like Argentina, that has fought many crisis, BTC is a great opportunity, read more about it here.

Bitcoin as an alternative to state investments

Although governments have many opportunities to influence the exchange rate of their own currency, the influence is of course limited. The loss in value continues to increase as a result of an uncontrolled or rather intransparent money printing company, which is mostly used to pay off the incredibly high debts. This is certainly no different in most other countries. Europe and the USA also have similar monetary policies. This is only possible because of the strong economy.

Bitcoin was also the answer to the economic crisis of 2008, when our dependence on individual companies or governments became clear. Millions of people have suffered as a result of wrong decisions made by individuals. Therefore Bitcoin is not only a good investment for the future due to a possible increase in value, but above all an alternative to state-controlled investments.

You can rely on Bitcoin, not on sensible decisions by our governments.

How the crypto currency 2019 will continue

How the crypto industry develops in 2019 also depends on how quickly the major problems are solved. Winter 2017 was one of the superlatives, at least for those who invested in Bitcoin, Ethereum or other crypto currencies in the summer or earlier.

The Bitcoin, the first and largest virtual currency in terms of market value, has always set new records: $5,000 in October, $10,000 in November and the all-time high of $20,000 on December 17.

This also helped all other crypto currencies to new highs. Bitcoin is “digital gold”, enthused hedge fund managers like Michael Novogratz of Galaxy Capital. Kay Van-Petersen, an analyst at the Danish Saxo Bank, was sure that the crypto currency could easily rise to 100,000 dollars. This would create a new, better financial system. The crypto enthusiasts’ imagination knew no bounds.

A year later, nothing remained of the euphoria. “The biggest bubble in human history has burst,” explains star economist Nouriel Roubini. Bitcoin still cost 3290 dollars on Sunday, 77 percent less than at the beginning of the year.

It looks similar also with other crypto currencies: Ripple, the second largest currency, lost 88 percent, Ether, the number three, 89 percent. A total of 700 billion dollars in value were destroyed, according to calculations by the industry service Coindesk.

The year 2018 was marked by a long bear market, which now ended in a “nuclear crypto winter”, as the venture capitalist Jim Breyer put it. The young crypto industry is on the verge of a turning point.

Crypto currencies

According to a study by the University of Cambridge, the number of verified users has doubled this year to 35 million. This also reflects the activity of the many and in part rapidly growing crypto start-ups that have been founded in recent years.

But for the first time, companies are plagued by financial problems, as job cuts show. Consensys, one of the largest start-ups in the crypto world, sacked 13 percent of its more than 1000 employees at the beginning of December.

Big challenges

“The industry faces two major challenges next year,” says Kevin Werbach, Professor at the Wharton Business School in Philadelphia. “It has to deliver usable applications and thus further increase the number of users”. Only then can fundamental data be generated from which a realistic estimate of crypto prices can be derived.

How the crypto industry develops in 2019 also depends on how quickly the major problems are solved: The blockchain technologies on which many crypto currencies are based need large, complicated updates. And there are still too many fraudulent projects in the industry. This discourages investors and financiers, while regulatory authorities around the world are taking much tougher action.

Bitcoin was invented in 2008 in response to the financial crisis and the resulting loss of confidence in banks. However, there is not much left of this original revolutionary spirit today, not least because the financial world is trying to adopt blockchain technology.

The crypto world today consists of different parts. On the one hand, there is the trade in so-called tokens. The market for virtual IPOs, so-called initial coin offerings, came to a standstill last year after an initial boom.

These are the reasons for the Bitcoin crash

But in 2019 it could blossom again in a new, regulated form. Especially for illiquid assets such as real estate or art, start-ups are working to make them tradable in many small parts. Blockchain technology is intended to make this easier.

The second area consists of so-called enterprise blockchains. Many large corporations from a wide variety of industries have joined forces to develop either proprietary, industry-wide or even cross-industry blockchain solutions.

For example, the insurance industry is working on a way to synchronize contracts more quickly and process claims. Retail groups such as Wal-Markt and pharmaceutical manufacturer GlaxoSmithKline use the blockchain to better manage their supply chains. Crypto currencies play only a minor role.

And finally, there will continue to be classic blockchain start-ups that use database technology, for example, to secure access to patient data or make it easy for musicians to monetize the rights to their works.

As far as the price of Bitcoin and Co. is concerned, there are a number of positive and negative forecasts. Novogratz expects 20,000 dollars again at the end of 2019. Sam Doctor of asset manager Fundstrat Global Advisors sees Bitcoin at 36,000 dollars in one year.

Bitcoin Ethereum Ripple

Anthony Pompliano, founder of the asset manager Morgan Creek Digital Assets, believes that the bear market will continue into the third quarter of 2019 before prices rise again, at best to 10,000 dollars. In the long run, there are still a few investors with the big vision.

Venture capitalist Tim Draper, for example, continues to believe that the Bitcoin will be worth $250,000 in three to four years. Cameron and Tyler Winklevoss, founders of the Gemini crypto exchange, even assume that it will be worth 320,000 dollars, but only in ten to 20 years’ time.

Bitcoin price prediction for 2020

If you believe Dr. Julian Hosp, Bitcoin could be worth up to $100,000 by 2020. This claim is based on Hosp’s Stock-to-Flow (SF) ratio indicator. This is generally used in commodity markets. Hosp has, however, applied it to Bitcoin.

The SF indicator measures the amount of an asset held in inventories (stock) by its annual production rate (flow). Overall, the indicator describes the ratio of how long it would take for the stock to reach flow. The indicator is particularly often quoted for gold. The stock-to-flow rate is the ratio between the worldwide annual gold production (flow) and the available worldwide gold quantity (stock).

  • Gold is so valuable because annual production is so low in relation to the amount of gold in circulation.
  • Hosp explained accordingly that a higher ratio is better because it indicates lower inflation.
  • As an example, he cited that gold would have to be mined for 62 years to get to the current global amount of gold.
  • By comparison, silver would take about 22 years.

Read more about BTC

https://consolaytablero.com/2019/05/24/juego-bitcoin-popular/
https://thefrisky.com/bitcoin-is-bullish-and-trading-is-exploding/
https://www.newsbtc.com/2019/05/24/analyst-bitcoin-must-close-above-8200-in-order-for-bullish-momentum-to-extend/

Bitcoin would currently need about 27 years to reach the circulating supply of 17.7 million (stock) at a current production rate of 657,000 per year (assuming production was not reduced every 4 years). It is important to know that Hosp calculated the calculation based on the current production of 12.5 BTC every ten minutes. After halving to 6.25 BTC next year, Bitcoin’s annual flow will be reduced to 328,500 BTC.

Hosp continues, explaining that production is the key factor in determining the value of an asset. Using gold as an example, he notes that gold typically increases production when miners expect higher profits, which in turn increases the stock-to-flow ratio of gold. Meanwhile, the increase in mine production leads gold into the overproduction phase, meaning that supply exceeds demand. As a result, the price of gold drops, makes mining unattractive, reduces the production rate and eventually drives the stock-to-flow ratio up.

To Bitcoin, however, Hosp said:

Even if the price rises, you can’t produce more Bitcoin. It always flows the same amount because it’s 12.5 Bitcoins every ten minutes.

Thus, the price remains the only factor for increasing the SF value of Bitcoin. Looking ahead to Bitcoin’s future, Hosp explains that with the upcoming halving in May 2020, the SF ratio will double to 54, bringing it much closer to that of gold. As such, he predicts that Bitcoin’s price will reach at least $100,000:

 

Suddenly we have much less production […], so the price has to double to keep the ratio stable. But the price is so much lower than gold at the moment that if we get closer to gold, the price should rise to about USD 100,000, maybe even USD 300,000.

Currently, Hosp says, the BTC price should be between $8,500 and $9,500 if the BTC price follows the SF indicator.

 

The Internet phenomenon Doge

Perhaps the Dogecoin can be seen as a parody or even homage to the Internet phenomenon Doge. What’s certain is that behind the fun cloak there’s a crypto currency to be taken seriously. A digital peer-to-peer motto inspired by the Litecoin, an Altcoin without limit.

Unlike Bitcoin or Ripple, it belongs to the inflationary currencies. There are currently a good 114 billion Dogecoins in circulation and the price trend is very volatile, but tends to rise. Due to its popularity in the Internet community, the Dogecoin is often used for fundraising activities, such as the participation of the Jamaican bobsleigh team in the Olympic Games or well projects in Kenya.

What is Dogecoin?

The Dogecoin is a litecoin derivative that was released in the USA on December 8, 2013. The brain behind the Dogecoin is the IBM software developer and video game fan Billy Markus, who recently attracted attention with the crypto currency “Bells”. This was inspired by the currency of the Nintendo game “Animal Crossing” – an equally funny motto, which, however, could not exist. Originally the Dogecoin, like the Litecoin, was limited in its maximum number. But the limit of 100 billion Dogecoins was lifted. In terms of speed, the Dogecoin outshines its competitors: a miner only takes about a minute to confirm a transaction.

Even though the Dogecoin is probably the funniest of all crypto currencies and has also chosen the cute dog breed Shiba Inu as a symbolic figure, the goal pursued is serious. The crypto currency is to serve as an alternative, decentralized online payment system that is simple, fast and accessible to many people.

Trading Dogecoin: Where can I buy and sell Dogecoin?

If you want to buy Dogecoin, you don’t have a hard time. Dogecoin is now traded on a number of stock exchanges. Nevertheless, it is by far not as widespread as Bitcoin or Litecoin, for example. Only a few exchanges, such as Yacuna, Prelude or CoinMKT, offer direct exchanges for fiat currencies such as the euro or USD. Different means of payment (PayPal, bank transfer or credit card) can be used. The exchange for Bitcoins or Litecoins is much more common. This can be done at all major crypto exchanges (e.g. Bittrex, Binance, CoinGecko). There are also a few ATMs in Canada and Mexico that support Dogecoin.

To buy or sell coins, you must create an account at the exchange of your choice and then set up a wallet where you can store your coins. All you usually need is your identity card, name and e-mail address. Many stock exchanges have minimum amounts (usually around 100 euros). The transaction costs are between 0.5 and 4% of the total amount. Other stock exchange fees are normally not incurred.

In the first three years, the Dogecoin price hardly moved at all: one coin was worth barely more than USD 0. From April 2017, the price rose significantly, then it shot up in the general crypto-currency boom (end of 2017/beginning of 2018). Dogecoin reached its maximum value at the beginning of January 2018 with 0.019 US dollars per token. However, it was unable to maintain this level and crashed shortly afterwards (very similar to the course of the litecoin). After market capitalization, Dogecoin is in the top 50 of all crypto currencies worldwide.

In general it can be said that the Dogecoin exchange rate, as with all crypto currencies, is subject to particularly strong fluctuations. In the past, price movements of +300 percent to -300 percent were possible within 72 hours.

Dogecoin mining: generating coins

Dogecoin mining is possible and works in the same way as Litecoin mining. The proof-of-work algorithm SHA-256 with the key derivation function “scrypt” is used. This combination ensures a much less error-prone encryption and increases the security of the mining. Unlike Bitcoins, for example, Dogecoins can also be mined with simple PCs.

About 5.256 billion new Dogecoins are produced every year. This maximum output is fixed and clearly underlines the Dogecoin’s inflationary system. The reason for the large output is that the creation of a new block in the Dogecoin network only takes a minute.

How does Dogecoin work?

Like most other crypto currencies, Dogecoin uses blockchain technology. All transactions are performed and managed in the distributed peer-to-peer network using open source software. Dogecoin does not rely purely on the SHA-256 algorithm, as his Litecoin template does, but on a combination with the scrypt function.

 

Do Bitcoin & Co still have a chance?

The hype surrounding crypto systems was followed by the big hangover: After the previous mega-boom, Bitcoin & Co suffered massive losses last year. What will happen in 2019?

It was a year ago: on December 17, 2017, the Bitcoin price climbed close to the 20,000 dollar mark (Source: BestBitcoinExchange.NET). The hype surrounding crypto systems reached a new high with this record level. Quite a few analysts predicted that the rapid price rally was just the beginning. A year later everyone is a bit smarter. The euphoria vanished as fast as it had come. Today the Bitcoin price is around 3400 dollars. That is a course loss of more than 80 per cent on sight of twelve months.

For the American economist Nouriel Roubini, no less than the “biggest bubble in human history” has burst.

The exaggerations are worse than with Holland’s Tulpenmanie in the 17th century and each other speculation Crash, which took place ever before at the financial markets.

Roubini, who predicted the financial crisis of 2008, calls Bitcoin the “mother of all fraud”.

What is certain is that many who invested in digital currencies at the height of the Bitcoin boom are now bitterly regretting it. Whether crypto currencies should therefore be completely written off is a different matter. The Bitcoin story is marked by extreme ups and downs. The project, which came into being in 2009 as an idea of free money that is not subject to the control of states and banks, was said dead a few times before.

No security found!

After a record high of 30 dollars in 2011, the share price plummeted to below 3 dollars. But in 2013 a comeback followed and for the first time the threshold of 1000 dollars was reached. Even then there was great skepticism. “There is every reason to believe that the Bitcoin boom will end soon,” wrote the Economist, and analysts already saw “patterns of an aggressive speculative bubble. In fact, the Bitcoin price initially fell back to almost $200 and floundered for a long time until the summit storm towards $20,000 began in 2017.

“Mother of all fraud”

However, the current crash could shake the industry more severely. Given the huge amount of money that has since been invested in digital currencies and the associated technology, this is a very different dimension than in previous price declines.

  • What began as a gimmick of the crypto scene and slowly spread as an insider tip in financial circles was suddenly on everyone’s lips and many wanted to be there.
  • All the more severe is the damage.

At times the hype was so great that companies could multiply their market value by changing their names to something related to Bitcoins and the blockchain technology behind it. The epitome of the crypto gold rush became the beverage company Long Island Iced Tea, whose share price tripled immediately after being renamed Long Blockchain Corp. However, this was also followed by a total crash – in the end the share was worth only 13 cents.

The crypto boom was also fuelled by controversial advertising campaigns by stars such as Paris Hilton, Mike Tyson and other celebrities. The US Securities and Exchange Commission recently imposed heavy fines on former boxing champion Floyd Mayweather and hip-hop producer DJ Khaled for unfairly paid promotions for dubious deals with digital currencies. The two had advertised dubious “Initial Coin Offerings” (ICOs) through their social media channels without disclosing that they had received money for them.

  1. Most social networking users protect their accounts the traditional way.
  2. With a username and password.
  3. But such a security mechanism is exposed to a number of threats.

Perhaps the clearest alarm signal

The flood of ICOs – digital IPOs in which companies issue digital currencies (coins) instead of shares – was perhaps the clearest alarm signal on the overheated crypto market. In the meantime, it seemed as if every resourceful businessman would be showered with investment money to issue a new coin. American stock exchange supervisors assume that these deals were fraudulent in a number of cases. According to the consulting firm EY, 86 percent of the 2017 ICOs are below their issue value. Frequently, investors’ funds were not even used to develop products.

Cloudbet – BTC Casino Review

Especially those who have been or are currently involved in sports betting should be familiar with Cloudbet. The company was one of the first representatives to make sports betting with Bitcoin possible and to add its own casino area to its own portfolio some time ago.

This is not only equipped with numerous games, but can also convince with all sorts of small extras and a reliable provider. At the same time, there is no doubt that Cloudbet works seriously and properly. Whether we could gain further positive experiences and where it possibly still hangs a little with the provider, this review shows it very exactly.

Our experiences with Cloudbet

Although the Bitcoin casino industry is still very young, Cloudbet has a certain advantage over some competitors. The company has taken its first steps as a sports betting bookmaker and has already gained some experience. This is quite noticeable in the casino portfolio, because the tastes of numerous customers are covered.

Available in the portfolio are around 400 different games, which can be sorted into different categories. Fortunately, there is also no reason to accuse the provider of fraud or rip-off. The provider is equipped with a licence from the competent authorities in Montenegro, which means that it can be said in every respect that Cloudbet works seriously. If bets are placed, they are always completely safe.

Cloudbet in check: Fraud or serious?

The seriousness of the provider plays an overriding role in a test report. Anyone who plays wants to make a profit, of course. At the same time, however, these winnings should be paid out securely and land reliably in one’s own hands. With Cloudbet there is no doubt about this. The company has not only been active in the industry for a few years, but can also convince with an official license.

This is issued by the competent authority in Montenegro and thus clearly guarantees that the work here is serious and honourable. So there is no need for the customers to have any reason for concern at any time, especially as security is also guaranteed by further security measures. This includes, for example, SSL encryption, which is used to secure player payments and form entries at the provider.

The range of games at a glance

Players can gain positive experience by taking a closer look at the portfolio. Play’ N’ Go, which has stood for enormously high quality in the industry for years, is named as the responsible provider. Thus the players can rely on the provider at any time that they can play at an absolute top level. The selection is also impressive, as there are around 400 different games available. These are divided into different categories, so that each customer should always find a suitable game for himself. The games are all played in an instant game variant, so that the games can be started without any download.

Slot Games

The most popular games in the provider’s portfolio are slot machines. At the same time, the largest selection is also available in this field, as customers can choose between 208 different games. There are both classic slot machines and modern video slots, all of which are great fun to play. Classic games on offer are for example “Ace of Spades” or “Cash Splash”. New slots in the portfolio are “Burning Desire”, “Boomanji”, “Break da Bank” or “Book of Dead”.

Another important part in this category are the jackpot slots, of which a total of 18 different games can be found. Of course, according to our experience with Cloudbet, there are also some well-known games represented here, such as “Aztec Treasure”, “At the Copa”, “Good Girl Bad Girl”, “Mr. Vegas” or “Greedy Goblins”. Here is a page dedicated to cloudbet slots only, explaining the slot gambling experience in more detail: https://www.funsatoshis.com/casinos/cloudbet/ .

The slot machines are of course by no means the only gaming options on offer. Instead, they also offer a very interesting selection of classic casino games. These include a whole range of table games, but also some video poker games. The offer is rounded off by Bingo and Keno, which are to be found amazingly likewise here. Probably the most classic game on offer is Roulette and, according to our Cloudbet test, is represented in the portfolio in nine different game variants. Of course, these include the games American, European and French. In addition, for example, the Multi Wheel Roulette is also available, which can be played with several boilers at the same time. The new game variant “Spingo” can also be found here.

Black Jack is currently offered in 25 different game variations. This includes not only the classic Black Jack, but also, for example, the Atlantic City Black Jack, Single Deck Black Jack, Spanish Black Jack or European Black Jack.

In addition, there are a few other alternatives available in this category with various poker games or Baccarat. The portfolio is rounded off by 48 video poker games. This is a very good number of playing possibilities, especially since some well-known games such as Deuces Wild or Aces and Faces belong to it. In addition, a few modern video poker games are also part of the equipment, so that Double Bonus Poker, Joker Poker or Five Draw Poker can also be played without a problem.

Live Casino

In addition to the games in the regular casino, Cloudbet customers can also go in search of their luck in their own live dealer area. There are even seven different live rooms available, each with its own dealers from a region of the world. So if, for example, you attach particular importance to an Asian game management, you can simply select the appropriate room.

In all rooms different games are offered, whereby in the live center generally Roulette, Black Jack, Baccarat, Keno and Lotto are played. How high the respective limits for the games and at the tables are, always depends on the game variant. Basically, this is to be evaluated positively in the test of course, because in this way even the inexperienced players can play with low stakes in the live area.

From a purely technical and qualitative point of view, there is no disadvantage to criticize in live casinos. The game management takes over the control with the greatest sovereignty and accordingly makes almost no mistakes. In addition, the game runs smoothly, although very valuable graphics and representations are used. In short: Here genuine Casinoatmosphäre develops.

New customer bonus: 100% bonus up to 5 BTC

In order to make your portfolio even better compared to the competition, most casinos offer bonus offers for new players. However, customers rarely enjoy such a lavish bonus offer as Cloudbet does. All new players are rewarded here with a deposit bonus for their first deposit to the player account. For this the casino pays a bonus of 100 percent of the deposit amount, whereby a bonus amount of up to 5 BTC can be secured.

For example, if an amount of 1 BTC is deposited, there will also be a bonus of 1 BTC. If you deposit 5 BTC, the bonus amount also increases to 5 BTC. Players do not need a bonus code or the like, as the first deposit automatically qualifies for the bonus offer. It is therefore important to note that the required minimum amount for the bonus offer is mastered. For this bonus offer, however, it is just 0.01 BTC, which is probably only a real hurdle for very few players.

  1. Deposit bonus: 100% up to 5 BTC
  2. Bonus terms: 800 Loyalty Points per 0.01 BTC Bonus
  3. Validity: 365 days
  4. Other bonuses: –

Unlike many other casinos, Cloudbet does not credit the bonus amount directly to the qualifying deposit. Instead, points must be accumulated, which means that parts of the bonus amount can always be cleared. It is specified that with 800 points collected, 0.01 BTC will always be transferred from the bonus balance to the player’s account. The exact number of points collected depends on the stakes and scores of the games. Slots are rated highest, Black Jack lowest.

Please note that the activation must be completed within 356 days after activation. If this is not successful, the bonus will unfortunately be forfeited.

BitMEX Experience And Review

BitMEX is a Hong Kong-based peer-to-peer trading platform for professional investors founded in 2014.

Bitcoin Mercantile Exchange, BitMEX for short, is one of the largest Bitcoin trading platforms with a daily trading volume of 275,048 Bitcoin. In total, more than 428 billion US dollars have been traded since the beginning of the stock exchange.

BitMEX only accepts deposits in Bitcoin. The exchange is primarily intended for professional traders for whom it offers numerous extras.

BitMEX Team

The BitMEX team consists of co-founder and CEO Arthur Hayes, co-founder and CTO Samuel Reed and co-founder and CSO Ben Delo.

Arthur Hayes has a degree in economics. He has extensive experience in trading and has worked for Deutsche Bank and Citibank.

Samuel Reed has a degree in computer science. He brings over twelve years of experience as a programmer. He worked for Tixelated and Global Brand Solutions in Hong Kong.
Ben Delo works on trading systems and has a degree in mathematics and computer science. He has over ten years of experience and has already developed systems for J.P. Morgan and IBM.
 

BitMex Leverage

BitMEX offers leverage for all products. UP contracts are excluded, as they have native leverage. The height of the lever depends on the product. The leverage is determined by the Initial Margin and Maintenance Margin levels. These levels set the minimum capital you need to have in your account. You might find some additional details in the guide of http://www.bestbitcoinbroker.net/en/bitmex-bitcoin-trading/ since they also have a lot of experience with the broker.
 

Register with BitMEX

To register with BitMEX you must first visit the website*. With our partner link you receive a discount of 10 percent for the fees in the first six months.

To open an account with BitMEX, you only need an email address and a strong password. You must also indicate your place of residence. Once an account has been created, there are no trading limits. Traders only need to be over 18 years of age.

It should be noted, however, that Americans are not allowed to use this service. BitMEX determines the IP address of the users to check if they are from the USA.
 

BitMEX Experience: How the platform works

The BitMEX exchange offers trading of Bitcoin against US dollars. BitMEX also offers some crypto currencies. Currently Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Ripple can be traded on the stock exchange. However, the crypto currencies may change from time to time. Check the current status on the BitMEX website.

The trading interface is not really easy to understand. Who is used to Bitpanda or Bitstamp, will get his problems here. For more professional traders or those who want to become one, BitMEX is a good trading platform. On the left side there are many trading instruments and a lever of up to 100x is unique.

The user can customize the view of the interface. This can enlarge or reduce individual areas and re-sort them as required. Useful if you don’t like the view.
By the way: beginners can open a test account at BitMEX, which you can find on the website. This allows beginners to develop a feeling for the stock market before using real money.

Just be careful regarding leverage and the liquidation price as not knowing what you are doing can cost you your entire margin.
 

BitMEX Fees

The Exchange charges different fees depending on the trading instrument.
For Hidden / Iceberg orders, the seller must always pay the taker fee until the hidden order has been completely bought.

Deposits and withdrawals at BitMEX

BitMEX does not charge any deposit or withdrawal fees. Only the Bitcoin network fees have to be paid out. You can only deposit Bitcoin at BitMEX. The minimum deposit is 0.0001 XBT (10000 Satoshi) and the Bitcoin deposit will be credited after a network confirmation.

Payouts, on the other hand, only take place once a day. The manual disbursements are intended to increase the security of the exchange.
 

Is BitMEX safe?

The stock exchange is known for its high security levels. The platform uses multi-signature deposits and withdrawals and only the majority of all key owners (BitMEX partners) can have Bitcoins.

Even if everything were compromised, the hacker could not pay out bitcoins because he did not have the majority of the keys. BitMEX employees check each payout at least twice. Only after a double check they confirm the payment.

The BitMEX exchange has implemented a number of security measures and the exchange has also been able to protect itself from hacks so far. For these reasons BitMEX can be classified as a secure Bitcoin Exchange.

Further security measures of the exchange can be found on the website under FAQ > Security*.
 

BitMEX Customer Support

The trading platform has customer support that is available around the clock and accessible via several channels – e-mail, ticket system and social media. It usually takes an hour to get an answer. BitMEX also offers a FAQ overview to answer the most common questions. Trading courses and guides can also be found on the website.
 

Bitmex App for the Smartphone?

The website is optimized for smartphones and BitMEX should also run without problems on the smartphone. There is an unofficial Android app and no iOS app. However, BitMEX users are advised to trade on the computer.

Conclusion

BitMEX is certainly not an exchange for newcomers and beginners. It is aimed exclusively at experienced traders or those who want to learn it. The English-language website offers a variety of instruments for trading. Especially the 100x lever can be interesting (and of course dangerous). Of course you will also find complaints about the platform, since there will always be people who had a negative experience, as in any field.

Pros

  • Large number of trading instruments
  • 100x leverage
  • Fast customer support
  • High liquidity
  • Good safety precautions

Contras

  • Not for beginners
  • Complicated surface

Paying Or Gambling? – The Bitcoin Dilemma

Bitcoin is only conditionally suitable for payment as a currency thought, but above all used for speculation: The Bitcoin soaring is the original purpose of the crypto field now in the way. The hype raises the question of whether the digital object of desire is even good for payment. Speculative object “I can not remember when the last customer paid with Bitcoin,” says Niels Göttsch. The owner of a coffee bar in Berlin, Germany, is by far not the only shop operator that is so. Although Bitcoin is establishing itself in the financial world, this success leads to a dilemma.

For what was supposed to be a digital currency threatens to become a purely speculative object.

For payment Bitcoin is therefore only conditionally. For business owners and online retailers, extreme price swings are uncomfortable – prices must be constantly adjusted. And who wants to spend money that has no stable value and rather to the speculation on price gains invites? “What we want from a monetary system is not that it makes people rich who hoard money,” said US economist Paul Krugman once. “We want it to be used for transactions and make the economy as a whole rich.”

But that’s not the case for Bitcoin, whose value has risen from around 1,000 to over $ 20,000 (€ 16,864.8) since the beginning of the year. Is digital money still good as a means of payment or just for gambling? Hardly any payments In Berlin, where for years more and more hip cafes and start-ups offer Bitcoin payments, the problem is already noticeable. At least there were at least ten Bitcoin payments per year, says coffee bar owner Göttsch. In the meantime, however, the transactions have dried up completely. “The staff already forget how it works with the Bitcoin assumption.”

Further Rejections Of Bitcoin Payments

Also, the Berlin pastry Engelmann gets lately no more Bitcoin requests. There have always been problems, says owner Michael Engelmann. For example, customers accidentally transferred the money twice because they were not sure that the transaction actually took place. For a while, Bitcoin also appeared on the rise as a means of payment. Review of 2014 In the US, major corporations such as Dell, Expedia or Microsoft introduced the crypto-vise as a payment option.

Also Ebay publicly flirted with this step. At the time, the course did not make such a big jump and at times even suffered so much that there were serious doubts about the future of Bitcoin – but its spread in everyday life has been steadily increasing.

In the trendy New York West Village, the city’s first ATM was set up, where Bitcoin could be bought with dollars. On Wall Street opened the Bitcoin Center, an information and lobby headquarters of the young start-up industry around the 2009 introduced digital money. And not only in the windows of trendy shops, bars and restaurants appeared more often the sticker with the words “Bitcoin accepted here” on.

Around four years later, the Bitcoin hype reaches new dimensions, but an on-site search reveals: The West Village shop is gone, the Bitcoin Center is closed. “We just could not afford the rent anymore,” says founder Nick Spanos. In poor times, people sacrificed a lot of Bitcoin to keep it running, but at some point it became too expensive. Others benefited from the price rally. Spanos continues to lobby for Bitcoin, but now operates only a small office outside the financial district. After all: The Bitcoin ATM is still there. He is now at a brokerage office in the basement.

“We have nothing to do with it,” says Spanos. What about the big companies that made headlines back then? Computer giant Dell has long abolished Bitcoin payments because of “low demand”. On Ebay you are wrapped in Bitcoin plans in silence, even ex-daughter Paypal is no information on crypto-experiments. Microsoft and the “Time” publisher also do not want to comment on their experiences with Bitcoin.

The online travel agency Expedia still accepts Bitcoin – but still only with hotel bookings on the US website. At the start of more than three years ago, it had been said that the offer would be extended if it was well received by customers. According to a spokeswoman, the transaction volume has doubled in the past ten months after all. However, she did not want to give concrete numbers.

In early December, even the online computer game retailer Steam was forced, despite its cyber-enthusiastic clientele to stop the Bitcoin acceptance. The fees had risen rapidly – from initially 20 cents per transaction to last almost $ 20. Added to this are the enormous value fluctuations. “If the transaction was not completed on time, the required amount for the payment may change,” it says at the online retailer. Then additional payments are necessary; and again a transaction fee is due.

Nevertheless positive conclusion Bitpay, the leading Bitcoin payment processor, nevertheless concludes positively for 2017. “Those who do not live under one stone will have seen that the daily transaction level reached new highs this year,” the company from Atlanta says. For the first time, payments of more than $ 1 billion were made, and growth was 330 percent for the year. That sounds strong, but pales in relation to the bitcoin price hike, which peaked at over 2,000 percent over the same period. Also measured on the entire e-commerce market, the payment volume is rather modest.

By comparison, on the Cyber ​​Monday discount battle alone, more than $ 6 billion was spent on the Internet on a single day and only in the US. The Bitcoin community is well aware that capturing by speculators may hurt their goal of a free currency that could once rival the dollar or the euro. Last but not least, to facilitate transactions and to counter the gambling, was split off in August after long struggles in the community of Bitcoin Cash from Bitcoin. Since then, the course has exploded here as well.

And the Coinbase trading platform’s attempt to absorb Bitcoin Cash has only led to further turbulence – the hype surrounding crypto money just seems too big to keep out speculators. So the Bitcoin-friendly dealers show nothing but optimism. Although the offered Bitcoin payment is hardly used. But go from increasing interest.

At least from a marketing point of view, the effort has already been worth it anyway: He has made Mymoria the first “digital funeral home” nationwide in the headlines – with the dream of Bitcoin friends of independent cyber money, however, has as little to do as the dizzying Bitcoin speculation in the financial markets.

Four Reasons Why Bitcoin Is Unique

Many investors panic or even suspect the Bitcoin crash, but Jimmy Song (Bitcoin developer) published an explanation via the platform medium why Bitcoin is exceptional and how investors can assess its long-term value.

How can one coin be distinguished from another? More importantly, how should an investor know how high the long-term value of a coin will be?

Bitcoin Developer and Entrepreneur Jimmy Song


The questions he asks are important for investors right now. He answers investors’ questions by pointing out how Bitcoin differs from other coins.

“The Greatest Innovation Has Already Occurred”

Any new coin, ICO or hardfork is described as innovative or in response to a problem that Bitcoin cannot handle in the hope that Bitcoin will be banned for lack of a “feature”.

What is overlooked is that the biggest innovation is already there. Decentralized digital scarcity is the real innovation. The “features” and innovations of the so called rivals of Bitcoin (Altcoins) are “really tiny variations of a huge innovation”.

Song criticizes the success rate of the ICOs and points out that many early Altcoins no longer exist. Altcoins and ICOs perform many different functions, but most are not useful or are not accepted.

Bitcoin’s Decentralization

“When it comes to decentralization, nothing beats Bitcoin,” says Jimmy Song. Every other cryptocurrency that came to Bitcoin has a founder or company and these have a great influence on their coins. Building on this, one could argue – like Song – that ICOs and other altcoins are much more centralized than one actually wants to admit.

Take the ICOs, for example. The company that publishes the ICO becomes the “central party” and can:
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  • Create token
  • Change the use of the tokens
  • Issue additional tokens

It sounds like government control over Fiat currencies – because it is.

Altcoins have the same central characteristics, albeit to a lesser extent, because they have a founder who can control the coin in the same way a government controls a paper currency.

Bitcoin is different. When Satoshi Nakomoto disappeared, he left behind “users of different affiliations,” who all have a say in how the Bitcoin network operates.

The Network Effect

Bitcoin already has the largest network and benefits from it. As popularity increases, this is only getting bigger and bigger, while Altcoins and ICOs have to try to keep up. The network and infrastructure around Bitcoin is growing steadily.

“Bitcoin, has the largest bug bounty in the world to uncover vulnerabilities. Bitcoin has proven its safety with the only factor that is actually relevant in a test: time.”

Bitcoin Is The True Revolution

Jimmy concludes that market capitalization is heavily manipulated and Bitcoin’s own market dominance is distorted and markets are inherently volatile and can only smooth out over a long period of time.

He also recognizes that it would be too optimistic to assume that bitcoin could not be ousted, but that it will be incredibly difficult to create another truly decentralized currency. Song believes it takes an innovation at least as big as Bitcoin, or a mistake that makes Bitcoin unsustainable.

Bitcoin will continue to be different, because unlike centralized coins, it is market-driven, unchangeable and unseizable. These are the properties of a large value memory and that is bitcoin.