Wikicoin Darryn Pollock

Bitcoin Buckles to New Year Low — Here’s What’s Caused it

📚 Wikicoin
Bitcoin has dropped down to $3,400 a coin — a new low for 2018 — and there are a few reasons why
Bitcoin Buckles to New Year Low — Here’s What’s Caused it
Contents

The downturn in the Bitcoin market — looking back from it's all time high which was just short of a year ago on December 17, 2017, at around $20,000 — has continued towards the back end of 2018. The price of the cryptocurrency reached a new low for 2018 as it dropped to $3,400 a coin.

It has been a long a steady road of decline through most of 2018 with a few key moments and distances pushing the entire cryptocurrency market downwards. Overall, there has been increased regulatory scrutiny, the speculators market has bubbled and popped, and there has been a fall in general interest as such.

But there have been some more direct and noticeable catalysts for the downturn in the markets. In fact, the most recent fall which took Bitcoin away from a strong $6,200 resistance was partly down to a Bitcoin Cash hardfork.

Because of the bear market, or even the cryptocurrency winter as some are labelling it, there has been hardly any instances of good news being able to prop up the flagging market, rather seeing it respond to negative news with much more vigour.

Losing hype

To understand why the Bitcoin market is flagging like it is, it is important to know why it reached a stage of mass hysteria and hype almost exactly a year ago. Bitcoin and the resulting cryptocurrency boom, which was also fueled by an ICO explosion, was due to spectators and hopeful market chasers.

Bitcoin came into the general market offering ease of access and total inclusion to all who wanted a piece, as well as crazy volatility, which at that stage was almost always going up. This meant that anyone could enter the game, put money into it, and get quick returns.

There was a boom of get-rich-quick hopefuls which propped up the market based purely on speculation. This maret was also unregulated, so it moved at incredible speed — speed that was never sustainable.

Regulators catch up

Soon though, the regulators and governments started cottoning onto the cryptocurrency market and looked to stamp out some of the more troubling aspects of it. Many, like the entirety of China and the SEC in the USA, stamped down hard on things like ICOs, making many investors double take as they realized they could be in some trouble here.

Exchanges, companies, and other aspects of the cryptocurrency market were then taken under regulatory scrutiny, and this scared off a lot of speculative investors who started to wain as the market plateaued and dropped.

No favours

These reactionary moves from investors saw the market shrink and slowly deflate, but there have also been instances where the cryptocurrency market has not helped itself in the popping of a bubble.

The recent Bitcoin Cash hard fork has turned into an ill-advised and nasty battle which has painted the entire ecosystem with a bad brush. Its battle between the two forked chains has led to a hash war and has sullied the little reputation Bitcoin Cash had.

These moves have seen the price of Bitcoin go tumbling, and this latest example shows the price of Bitcoin nearly halving from before the fork and the resulting drop.

Wikicoin
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🎓 Trading Guide Andrew Strogoff

Best Cryptocurrency Trading Platform, How to Choose One

Trading Guide
Best cryptocurrency trading platform, the main criteria to choose them
Best Cryptocurrency Trading Platform, How to Choose One
Contents

Cryptocurrency exchanges are numerous nowadays. They offer different services and trading conditions to their clients. They have different level of security as well. Today we are going to tell you how to find the best cryptocurrency trading platform.

Why is it important to choose the best one? Those who start crypto trading, need to open an account with one or even several trading platforms. There are several criteria helping investors to make the right choice. One trading place has higher level of security, for example, but does not support fiat money. The other work with large amount of coins but have few deposit/withdrawal methods.

The importance of choosing the right place for trading is easy to explain. If the exchange does not meet your requirements, you will have difficulties when working with it. For example, you want to trade some rare coins, but the exchange does not offer big choice the its clients. You will need to look for another market to satisfy your needs.

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Main criteria to find the best cryptocurrency platform

There are several cryptocurrency exchanges currently and all of them try to attract clients as they earn via fees. In order to make the best choice, one needs some aspects to analyze. We would like to suggest several criteria that may be helpful for all categories of traders including beginner investors.

Reliability and reputation

The first thing everybody needs to pay attention to is reputation and reliability of cryptocurrency trading platform. This criterion is the main as if the platform fails (hacker attack, for example), your money (digital assets, tokens) will be stolen.

How to analyze security level of the platform? It is hard to answer this question as hackers always develop new ways to penetrate those exchanges. As for reliability, this information can be found on different websites and forums including Bitcointalk, Reddit and the others.

What kind of information do you need? Everything related to the cryptocurrency trading platform activity including troubleshooting, security measures, how platforms’ team solve problems and the other aspects.

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Another important thing is where the exchange holds clients digital assets. Earlier, most of those trading platforms used hot wallets in order to provide fast access to coins and transactions for their clients. However, the situation has changed with the growth of hacker activities. Many traders remember the situation with MT GOX and some other trading places, which were hacked. Clients lost huge amount of money there.

Most of the contemporary best cryptocurrency trading platforms use different security measures including cold wallets. They hold up to 90-95 percent of clients funds on offline servers and require multisig in order to protect users from malware that may come from administration.

Several exchanges recommend to use two factor authentication, which improves security level as well. This means that you need to receive a special code in order to do important steps when working with platform such as withdrawal, for example.

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Commissions  

All the best cryptocurrency trading platforms as well as the other trading places require commissions from their clients. The average fee is about 0.2 percent. However, recently exchanges changed their policies and establish dynamic commissions depending on trading volumes and some other important aspects.

When a trader looks for an exchange, he wants to earn more and pay less. It is logical and natural. However, we want to warn that lower fees do not mean better conditions for the trader. Sometimes such trading places with low commissions try to attract more traders as they have low liquidity.

The number of trading pairs

Different exchanges offer different number of trading pairs. The more coins are offered; the larger choice is for investors. However, we would like to mention that trading platforms may be divided into two groups here.

The first offer fiat money but low number of currency pairs. Those cryptos are interesting for those who want to start cryptocurrency trading and have no coins. Sometimes, traders choose those places first in order to buy popular coins like Bitcoin or Ethereum and then choose another platform in order to buy rare coins.

The second group of exchanges offer huge offer of different altcoins. However, there you won’t find fiat currencies.

When choosing one of those trading places you need to understand that the quantity does not mean the quality. The large number of coins is not necessary. It is better to find platform with those cryptos that trader is going to work with.

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Trading volumes

Liquidity is a very important criterion as trading volumes affect investors profits directly. Let’s suppose you choose a low liquidity coin with $500 daily volumes. It will be very hard to trade it especially when you have huge amount for trading.

This is the main reason why traders always try to find coins with higher volumes as they will be able to sell them without any problems. Exchanges have their liquidity as well. Those places with low volumes cannot provide you with high profits.

Payment methods

The best cryptocurrency trading platforms offer their clients a large choice of deposit/withdrawal including fiat money (via bank transfer), digital payment systems like PayPal, Skrill, Webmoney etc. Naturally, they provide traders with the opportunity to deposit any coin they offer for trading.

What kind of exchanges to choose according to this criterion? We think that the reply here is more than evident. The more payment methods are, the better is the exchange for every trader.

For those who do their first steps in crypto trading it is crucial to pay attention to those exchanges offering fiat money as they do not have coins and need them in order to start.

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Verification requirements

It is not a secret that almost all exchanges require verification procedure from their clients in order to abolish all limitations. Those who to stay anonymous, have less opportunities. Sometimes, they are limited in daily trading or withdrawal capabilities. However nowadays there are still those trading places where you don’t need to confirm your identity. Most of those exchanges work with large amount of coins and do not offer fiat money as deposit/withdrawal mean.

Trading platform

Those who come to exchanges in order to simply buy or sell their coins, sometimes do not need even a chart as their aim is to conduct one operation without forecasting the market. However, professional traders always need more tools to take decisions.

Several of the best cryptocurrency trading platforms give an opportunity not only to place buy or sell orders, but also to make technical analysis using different indicators, Japanese candlesticks, timeframes etc. It is important to mention than the wider the range of those tools is the more opportunities any trader has.

The majority of those full functional platforms offer Tradingview charts. Those web tools provide users with different analysis instruments including the most popular and effective indicators both trend and oscillators as well as different chart types.

Type of cryptocurrency trading platform

There are three main types of those platforms and traders or investors need to know which one to choose. The first and the most widely spread is trading platform with many features that allow clients to not only conduct their analysis and forecast future price fluctuations, but also to conduct other trading activities choosing orders types etc.

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The second type of exchanges is p2p platforms, which are designed to provide users with an opportunity to work directly with each others avoiding a book of orders. Here you find those who are interested in selling coins to you or buying them from you.

Finally, there are brokers who offer cryptocurrencies to their clients. Those companies mostly come from Forex. They offer several coins from the top 20 and huge amount of analysis tools as they are designed for professional traders and investors.

User interface

The best cryptocurrency platforms have everything traders need to improve their results. We have already mentioned technical analysis tools but there are also some other features that need to be described. In order to satisfy different traders’ categories needs, exchanges provide them with news, volumes, book of orders and other useful information allowing clients to examine market situation.

The interface should be intuitive as there are many traders who work seasonally or come there for the first time. However, user experience is subjective as different traders may enjoy different interfaces.

The best cryptocurrency trading platforms always offer best user experience and they grow faster in volumes as the others. Those trading places are able to boost in a short period of time.

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Country of residence

Another important aspect to pay attention to is country of residence of the exchange. Why is it crucial to know this? Some US exchanges do not allow traders from wide list of countries due to their regulation. The situation is the same with some Asian trading places.

Those platforms are only available for the residents of the countries where they are established. Localization is also a key moment in decision taking process. Most of exchanges offer English versions for their clients. However, some international trading places allow users to use multilingual websites including several European and Asian languages.

Support service

Finally, we would like to mention support service as one of the criteria that is important when choosing the best cryptocurrency platform. Before you take your decision, try to talk to the support service using different means that the website offers.

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Look at their reaction speed as well as at answers that they give. If they do not aspire to help their clients, it is better to choose another one.

Best cryptocurrency platforms

Now we are going to give you the list of the best cryptocurrency platforms according to our view. Check it out below:

  1. Binance

  2. OKEX

  3. Huobi

  4. HitBTC

  5. BitFinex

  6. CoinEX

  7. Upbit

  8. ZB.COM

Those exchanges have high day trading volumes and offer the best services in our opinion as those aspects are connected. The best service a trading platform offers, the more clients it will have in the future.

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Bitcoin's Dark Side

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Bitcoin's Dark Side

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🕵️‍ ICO Watch Tzao Se

Past ICO Review: Aventus Keeps Bleeding in Silence

👁 ICO Watch
A company that raised 60,000 ETH struggles to keep internal processes in order, misses deadlines, frustrates token holders
Past ICO Review: Aventus Keeps Bleeding in Silence
Contents

There are people in the world, who, if I were the law, should’ve been sent to the rice fields to be worked to death, along with used car salesmen, realtors, currency, cryptocurrency and stock traders, carders, and a good deal of crypto-world personages.

Who are they? The touts or scalpers, a despicable lot that make their living buying concert tickets and reselling them later for 10 times the price. Touts are few notches above child abusers or currency traders on my moral scale, but still, they are a plague well worth exterminating- if not physically, then commercially. Disgusting, awful parasites that add nothing to the society.

Celebrities and performers aren’t called “idols” for nothing. The modern world is basically built on idolatry, and there is not less crooks and temple whores around the cult of celebrity than it were around the temples of Babylon.

Inglorious bastards

Another tier of parasitic scum around the perverse cult of celebrities are the scammers. I remember how I almost lost €400 trying to buy a ticket to Adele concert as a surprise gift to my wife for her birthday. All tickets have been sold out officially by that moment, so I resorted to the “secondary market.” I ended up on a very professional-looking website, run by a company from Switzerland (the name starts with V and ends with GO, beware and stay out). I paid the money without thinking twice. And then I googled up the reviews. I was mortified. It turned out that almost anybody (or anybody) who used this services lost their money. I canceled the credit card and had a lengthy conversation with my bank. I’ve managed to prove my point.

Some (not all) event organizers and performers are trying to fight this mafia with varying success, but sites and people that abuse the desire to see a celebrity exist and flourish. Ask any five-star hotel concierge or google up any upcoming big star concert.

Enter Aventus

It all came to my mind when I decided to review the past ICO of Aventus.

Aventus is one of the non-typical, non-star ICOs of 2017. It quietly ended in just seven minutes, scoring north of $17 mln (60,000 ETH at the time), apart from a royal screw-up of compromised Slack account that preceded the ICO, everything went well.

Aventus claims to use Blockchain as a distributed ledger to issue electronic event tickets, not as a base for just another Ponzi scheme. They are working towards creating an open-source protocol for the ticketing industry worldwide. On Aventus platform, a secondary market of event tickets will be regulated by the ticket issuer, which hopefully will drive touts and ticket scammers out of business (or at least make the performer’s team to benefit from the resale).

I’ve decided to check on them- a goal that noble should have all the encouragement it can have.

Communications failure

AVT/USD follows the same downturn trend as most cryptocurrencies do, but the investors don’t seem to react to the recent reshuffles in Aventus team over the last months: the CMO and COO have been appointed, both are said to have a good track record in the industry.

The announcement of the creation of a “new venture” Artos that “will work independently of the Aventus Protocol Foundation to explore commercial applications of the protocol,” haven’t changed the moods either.

In general, Aventus’ communication seems to cause a great deal of frustration among the token holders. In January the team said to have switched from weekly updates to monthlies, but haven’t been able to keep even this tempo: no further development updates are posted in corporate blog apart from a sporadic announce of conference participation.

The head of communications of Aventus has the same surname as the director and co-founder Alan Vey, and the two can be related (some posters in Aventus sub-reddit claim she is his sister). According to her LinkedIn profile, Ms. Robyn Vey has little-to-none professional experience in corporate communications for a project of the scale that Aventus claims to belong to.

The press coverage at the moment, is looking rather pale, too (partly, because there hasn’t been any news worth publishing recently). On March 20, the team posted a link with what is essentially a reposted press-release in Bankless Times, relatively little-known Canadian news outlet on finance, and an obscure publication called ReadITQuick with the same press-release republished. Nothing to be proud of, really, and if I were their PR, I’d be embarrassed to even mention at least the second one to a press clipping, let alone post it on Facebook.

The company haven’t achieved the milestone to issue the minimum viable product beta during 1Q 2018 or failed to communicate that.  

All in all, AVT market cap has been declining from the historical maximum of $41 mln on Jan. 8, 2018 (probably achieved due to the fact that AVT has been nominated to become a community coin of the month on Binance), to mere $5.8 mln as of today, April 3, 2018, with almost non-interrupted bleed over last two months.

It is true that almost no project in human history has been delivered BOTH in time and within the budget. Aventus promises a long-awaited change in ticketing technology, but as any startup, it has a long struggle to secure its first client (and actually deliver a viable product) ahead of it. The outcome of the struggle isn’t defined by inspiration, talent, vision, idea, or team spirit, but rather by internal organization and structure.

It is unclear whether they have it.

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David Dinkins

Important Bitcoin Assets Owned by Individuals, Leads to Twitter War, Misinformation

There’s a troll in control of the @bitcoin Twitter handle, and nobody is sure how to deal with it.
Important Bitcoin Assets Owned by Individuals, Leads to Twitter War, Misinformation
Contents

Bitcoin’s decentralized nature is causing a serious problem: people claiming to speak for Bitcoin may not have the currency’s best interests in mind. Exhibit A is this tweet from @bitcoin:

Clearly, whoever is in control of the @bitcoin Twitter handle is a Bitcoin Cash supporter and is using the @bitcoin account as a bully pulpit from which to espouse his views. Another great example is the fact that Bitcoin.com is owned by Roger Ver, one of Bitcoin’s earliest supporters who has now abandoned the project and supports Bitcoin Cash.

Prominently featured on the Bitcoin.com website is this bit of text, in large font and bolded:

“What Happened to Bitcoin?

The Bitcoin Core (BTC) network is in trouble due to high fees and slow transaction times. Bitcoin Cash (BCH) is the upgrade that solves these problems.”

Does this sound like somebody promoting Bitcoin?

Confusion

The @bitcoin handle has apparently changed ownership many times since being created in 2011. Bitcoin news site Coindesk used to own the account, from 2012 to 2016, but claims that records of who they transferred ownership to are lost. Consequently, nobody knows - or will admit to knowing - who it is that claims to be speaking for Bitcoin. In the meantime, anti-Bitcoin tweets keep going out to @bitcoin’s 800,000 followers.

What’s a new user to think? Having Bitcoin Cash use “Bitcoin” in its name is confusing enough without additional doubts being sown in social media. But, there’s no way to assign ownership of a social media account to a decentralized entity. Some individual or other legal entity must own it, and in this case, it just happens that a Bitcoin Cash supporter controls two critical Bitcoin information portals (Bitcoin.com and @bitcoin).

Solutions difficult

The digital currency Dash is trying a new approach to ownership of network assets. Dash Core Group has long owned the Dash.org domain name and a wide range of assets that were paid for (and should be owned by) the network. However, since a legal entity had to control these assets, Dash Core Group served that purpose. It’s insufficient to say on legal paperwork that the Dash community owns a certain domain name, for instance.

However, Dash Core Group has now set up a foundation that is owned by the entire network of Dash masternodes, and has given control of all network-owned assets to that foundation. If such a structure can be duplicated by other cryptocurrency projects, it could be a valuable step in the direction of decentralization - and elimination of confusion - in digital currency.

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October's Top 10 List of Token Holders on Ethereum: Electrify.Asia is Leading

Electrify.Asia has by far the most new ERC-20 token holders, which means it is currently the most popular cryptocurrency on the Ethereum network
October's Top 10 List of Token Holders on Ethereum: Electrify.Asia is Leading

Ethereum is one of the leaders of today’s crypto world: it is second only to Bitcoin by market cap with 20.5 billion US dollars; right now, it is also standing at number four in terms if its monetary value following Bitcoin, Maker, and Bitcoin cash with almost 200 USD for one coin of Ether.

But, of course, Ethereum is not only a giant platform that generates its own cryptocurrency: it also lets other cryptocurrencies use its Blockchain network, so long that all of the technical rules are observed within the ecosystem. As a result, all cryptocurrencies that are hosted by Ethereum, apart from its own Ether, must be ERC-20 compliant (Ethereum Request for Comment), and every holder of an Ethereum-based cryptocurrency is thus also a de facto holder of an ERC-20 token.

This means that ERC-20 token holder figures are indicative of how well a crypto coin is doing within the larger Ethereum framework. The more ERC-20 token holders there are, the better that “guest” currency is doing, and since Ethereum is also one of the market leaders, any given cryptocurrency’s internal popularity on Ethereum also directly reflects on how well it is paddling through the crypto sea in general.

Below is the top 10 list of this October’s new ERC-20 token holders for each of the leading Ethereum-based cryptocurrencies:

This October’s New Token Holders

The current winner by a landslide is Electrify.Asia with almost 100 000 new ERC-20 token holders this October, followed by XMax with around 13 500 new token holders, then Moneytoken with around 12 000, Skrumble Network with around 9 000, 0xcert with roughly 8 000, SALT with 7 000, UChain is lagging slightly behind with around 6 800, FansTime has close to 6 500 token holders, DAEX around 4 500, and finally Datum is in last place with just under 4 000 new ERC-20 token holders this October.

Being “the first retail electricity marketplace in Southeast-Asia addressing the need for transparency and security in the consumption of energy” and with their slogan promising to “build an intelligent energy ecosystem for Asia”, the Singapore-based Electrify.Asia, headed by Julius Tan and Martin Lim, have set very high expectations for themselves. Let’s see what happens closer to the New Year!

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