Denys Serhiichuk

Best and Cheapest Way to Buy Bitcoin in 2019

Despite the fact that the rate of Bitcoin is not so big as it was a few years ago, it remains the leading cryptocurrency
Best and Cheapest Way to Buy Bitcoin in 2019
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The trend around cryptocurrency in general and Bitcoin in particular does not subside. On the contrary, people talk more and more about the most popular cryptocurrency even when there is a little increase in its rate. If 7-8 years ago, those who wanted to become crypto-investors could be counted on one's fingers, now almost everyone thinks about investing in BTC.

Bitcoin Guide

The Internet is full of guides on how to buy Bitcoin. But many of them either contain a lot of unnecessary details or are not completely understood by beginners.

We will tell you where to buy Bitcoin in 2019, what the difference between different platforms is, and how to choose the best way of buying the most well-known cryptocurrency.

How to purchase Bitcoin on online-exchanges

A weighty argument in choosing such a way to buy Bitcoin is ease of use. Today, there are more than a hundred online-exchanges where you can exchange fiat money for virtual coins and vice versa. Such a large range greatly complicates the choice of service. First of all, you need to pay attention to the reputation of the platform, the availability of a reserve, the speed of the support service, and the execution of the application. In this regard, Changelly and LocalBitcoins are among the best.

Changelly

Changelly web interface

This is a simple automatic exchange service that supports about 40 cryptocurrencies. You can buy Bitcoin here for both US dollars and euros using MasterCard or Visa.

To do that, you need to register and (preferably) enable two-factor account authentication in order to secure your profile.

Changelly has no restrictions on the purchase or sale of coins. However, there are cases where the minimum limit does apply. For example, when the amount sent or received does not cover fees, you receive a message from the system.

The fee of the exchange is fixed and amounts to 0.5% of the transaction amount. Charges are determined and retained automatically. So, the user will receive the total amount minus commission. Overall, Changelly is a really good way to exchange fiat for Bitcoin.

LocalBitcoins

LocalBitcoins interface

This is a platform where you can absolutely and anonymously exchange Bitcoin for fiat money (dollars, euros, rubles and other currencies) or for other digital assets and vice versa. This resource is used by residents of 224 countries around the world, and it has around 75 trading pairs. It is one of the largest exchanges in the world.

To get started, one needs to create an account and log in. To sign up,  you should specify only an email address, no other personal data is required.

Other advantages of the service:

  • High security

  • Easy handling

  • 30 possible payment systems

  • Moneygram for ordinary bank transfers

  • No commission for buying Bitcoin and only 1% of fees for selling coins

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How to buy Bitcoin on the exchange profitably

A cryptocurrency exchange is a platform for trading digital assets. Experienced traders manage not only to buy a few coins, but also to earn on the acquired crypto.

Any platform requires registration. Today, there are more than 300 similar exchanges. However, choosing a truly reliable one is a difficult task.

The most used trading platforms today are Binance, Kraken, and Bitfinex. These are exchanges trusted by millions of people all over the world. Let's see which platform is right for you.

Binance

The platform started to accept traders only in the spring of 2017, and in January 2018, it was in the top in terms of daily trading volume. First of all, Binance impresses with its ease of use. In addition, there are dozens of trading pairs — more than 280 cryptocurrencies are represented here.

The exchange also has other advantages:

  • Minimum commissions - 0.1% per transaction

  • 9 languages are supported

  • High speed of work

  • Increased security level, as evidenced by the lack of hacks and money theft by hackers

The reliability of the exchange allows traders to keep the purchased coins and not worry that they can disappear.

Kraken

Kraken was launched in 2011, and currently, it is one of the biggest exchanges in terms of trading volume. Using Kraken, one can buy, sell and exchange Bitcoin for other coins, as well as fiat currencies such as US dollars, Canadian dollars, euros, British pounds, and Japanese yen. More than 49 trading pairs and 15 cryptocurrencies are available on the platform. For experienced users, there is the possibility of margin trading and many other trading options. German bank Fidor and Kraken are working together to create the first specialized cryptocurrency bank.

As with any exchange, Kraken takes a percentage for each transaction. It varies depending on the status of the trader and the monthly volume of its trades. The status is divided into two types: maker and taker. In the first case, the trader creates an order to which other investors respond. In the second, the user of the exchange agrees to the already created order. The commission per transaction can range from 0 to 0.16% for the maker and 0.1% to 0.26% for the taker.

It is worth mentioning that Kraken is the first Bitcoin exchange that passed a cryptographic audit, which means that it is well protected and suitable for safe use.

Pros:

  • Positive feedback, high liquidity

  • The referral program is provided for business clients, as well as for users who carry out transactions with big sums of money

  • Dynamic commissions vary depending on the volume of trades and the type of trading pairs

  • The ability to deposit the wallet with various fiat currencies and cryptocurrencies

  • Availability of API and two-factor authentication

  • The chance of margin trading, several types of orders (stop loss, take profit, etc.)

  • Relatively low transaction fees

  • An app on iOS

Kraken is recognized as a very secure exchange despite the fact that the only way to secure an account here is 2FA. It should be noted that it is used not only during the login to the personal account but also during the entry to the trading page.

We can conclude that Kraken is a good and reliable tool for cryptocurrency trading, showing quite positive results year after year. The exchange offers interesting solutions that far from all competitors can boast. It will be an excellent option when choosing a trading platform.

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Bitfinex

Bitfinex interface

The exchange is registered in Hong Kong since 2012. It has impressive trading volumes and is one of the largest trading platforms. There is also the possibility of margin trading. The rate of commission depends upon the selected cryptocurrency and type of order. It varies from 0.1% to 0.2%.

Advantages:

  • Multifunctionality (margin trading with a leverage of up to 3.3x, the possibility of granting and receiving loans)

  • API availability, as well as 2FA, extended verification tools to control account integrity

  • Official apps for Android and iOS

  • Customizable interface (selection of topics, sorting)

  • Technical analysis tools built into TradingView

  • Variety of orders (stop loss, take profit, etc.)

Binance vs Kraken vs Bitfinex

Exchange

Binance

Kraken

Bitfinex

Referral program

Yes

No

Yes

24/7 customer support

No

Yes

Yes

Mobile application

Yes

Yes

Yes

Margin trading

No

Yes

Yes

OTC desk

Yes

Yes

Yes

Fiat deposit/withdraw

No

Yes

Yes

Choosing the best way to buy Bitcoin in 2019

Nowadays there are lots of ways to purchase Bitcoin. In addition to those mentioned above, there are many more — Bitcoin ATMs, gift cards, local brokers. And all this seems so complicated.

In fact, everything is very simple, and buying coins through the exchange or using the payment system can be comfortable and fast. The main thing is to decide how you want to purchase virtual coins.

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Alex Morris

Zcash Price Prediction — How Much Will ZEC Cost in 2019-20-25?

💣💥In this article, U.Today takes a closer look at one of the best-known privacy coins on the cryptocurrency market that was once embraced by no other but Edward Snowden
Zcash Price Prediction — How Much Will ZEC Cost in 2019-20-25?
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Zcash is a privacy-centered cryptocurrency that allows performing anonymous transactions while using a public Blockchain. The coin uses zero-knowledge cryptography, where something can be verified without revealing any additional details. The project’s roots lie in Zerocoin, the project that was developed by cryptographer Matthew Green, but the two projects currently have very little in common (as stated by Green himself).

Alt: Zcash founder Zooko Wilcox
As reported earlier by U.Today, Zcash Company has been recently renamed to Electric Coin Company, but the 30-strong team will continue to work on the project.

Private transactions

The privacy-centric cryptocurrency Zcash has one famous fan – whistleblower Edward Snowden. In 2017, he called ZEC ‘the best alternative to Bitcoin’. The Zcash network has two types of addresses: transparent and shielded (t- and z-addresses respectively). The latter type of addresses is not visible on Blockchain. However, there the network also has some pain points that should be taken into account:

  • Z-transactions require a lot of computational power, which takes a toll on their adoption.

  • Centralization concerns (Zcash is not fully decentralized since the team behind the coin holds 10 percent of its total supply).

  • Limited storage options (there are no mobile wallets that support Zcash).

Facing major competitors

Zcash remains the second biggest privacy coin after Monero, but this niche of the cryptocurrency industry is getting more and more crowded. As reported by U.Today, Litecoin is mulling over adding Confidential Transactions (CFs) as early as in 2019, which would make the coin an anonymous version of Bitcoin. Moreover, Beam and Grin, two brand-new anonymous cryptocurrencies that are based on the ‘tongue-tying’ Mimblewimble algorithm, also appeared on the market in 2019.
Alt: Beam and Grin - new privacy-centered coins
However, Electric Coin Company CEO Zooko Wilcox believes that these new coins will not be able to compete with Zcash.

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Regulators fear it

2018 was the year of a regulatory crackdown on cryptocurrencies since governments around the globe want to prevent money laundering and other types of illicit activities.

Zcash has already been embraced by numerous cryptocurrency exchanges, including Coinbase, but the problem is that its complete anonymity opens the doors to scammers and even terrorists. The network allows disabling the privacy feature, so the asset will continue gaining listings on other exchanges.

On the flip side, it is worth noting that privacy coins are serving as powerful tools that protect their users from identity theft and other types of crimes.

Zcash price history  

The price of ZEC has declined 98.82 percent since its very first exchange listing when the coin started trading at $4,293.
Alt: Zcash price peak

Back in January, Zcash reached its new peak of $876, but it fell quickly when the broader cryptocurrency market took a hammering.       
On Dec. 06, ZEC finally got listed on Coinbase, the biggest cryptocurrency exchange in the US. At the time of writing this article, Zcash is trading at $50.82.

Considering the technology behind Zcash (zk-SNARKs), some might find it surprising that the coin is still not in the top 10. However, the coin has very little real-world adoption compared to its competitors.  

Price pump after halving

Notably, Zcash has the same supply curve as Bitcoin, which means that the asset is becoming more and more scarce. The Zcash community currently has two high-stake halvings that will produce a direct impact on the coin’s price. When all 17 mln ZEC coins are mined, it is quite reasonable to assume that the coin’s price could skyrocket up to $4,000.

Zcash is currently working on reducing the coin’s inflation rate (it stands at 0.1 percent, which is quite high compared to other cryptocurrencies). The introduction of the so-called ‘harmony mining’ will help reduce the mining reward.

In 2020, the Zcash halving will take place – it is expected to reduce the mining rewards by half. That will undoubtedly produce a positive effect on the Zcash price.  

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$60,000 by 2025?

Back in 2018, Grayscale Investments predicted that Zcash could hit a staggering $60,000 by 2025 if it replaced ‘offshore’ bank transfers. Everyone, not just a handful of billionaires, will have access to their own proverbial ‘Swiss bank account’. The price of this asset could increase exponentially if it occupies even a small chunk of this market. For instance, ZEC would cost $6,289 if it represented only one percent of the collective ‘offshore wealth’.

However, the above-mentioned $60,000 figure is far-fetched since one should take into account the harsh competition among privacy coins. Monero (XMR) has already become the dark web’s darling, and its market cap is three times bigger than that of Zcash.

Market sentiment

Of course, one should keep in mind that no one can predict for sure what happens to the cryptocurrency market in the next five years. The price of ZEC price greatly depends on the overall market sentiment, which means that it will probably mimic Bitcoin. If Bitcoin goes down, all altcoins go down as well. However, that wasn’t the case in the mining department – Zcash mining was 400 percent more profitable in June 2018.

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The bottom line

Zcash poses a viable alternative to Bitcoin. This is one of the most prominent privacy coins that allows performing anonymous transactions. While the future of the cryptocurrency looks promising, there are multiple factors that could thwart its growth:

  • Lack of adoption (it won’t be able to compete with other privacy coins if the pace of adoption remains too slow).

  • Bad reputation (Zcash has already been mentioned by Europol as one of the cryptocurrencies that is used by cybercriminals).

  • Regulations (as mentioned above, regulatory clampdown seems imminent if Zcash adoption continues to grow).

  • The overall decline of the crypto market (Zcash won’t be able to survive if Bitcoin and major altcoins hit a snag).   

According to BuySellHodl, which displays real-time price predictions, Zcash is one of the lowest-rated cryptocurrencies with a 46 percent ‘Buy’ rating (Bitcoin SV was the only cryptocurrency lower on the list with only 29 percent of responders willing to buy it). With that being said, Zcash investors also have every reason to believe that the coin’s price will grow substantially after the upcoming halving.

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