Martinsx

If you are observant of how the cryptocurrency exchange market is going, you would realize that over the past few weeks or a month, the price of Bitcoin is falling. It was close to $9000 by March this year but now it's at $7,455. What could be the cause of this fall? Would Bitcoin still keep falling in this manner or would it appreciate soon enough?

Remember that Bitcoin is the first blockchain technology we had in cryptocurrency and it was launched in 2009 but the errors in Bitcoin blockchain led to the rising of other cryptocurrency which all sought to correct the flaws in the Bitcoin network which cyber hacks was one of them. So therefore, for the fact that we have other cryptocurrency today is as a result effort to improve on the security of the blockchain technology.

I completely agree and stand with this your opinion on how Bitcoin stands out among other cryptocurrency in existence today and more that are still coming up. Bitcoin have always occupied the top perch as the most valuable cryptocurrency and it's not ready to get replaced. Even with the little fall in price lately from close to $9,000 to $7,7600, it's still the most expensive cryptocurrency in the world. If you are not aware, there was Bitcoin Cash BCH and it still couldn't rival Bitcoin BTC.

Naming a new currency is not something to be done without a lot of consideration and deliberation because the new currency would be the face of the country its being used and accepted as a legal tender both at home and international. So therefore, a very good care must be taken in choosing a name that would be worthy of representing a country and not just one funny name. If I'm asked to choose a new for a new currency, I would suggest using "Oasis".

A lot has been said about faceuts cryptocurrency mining but little has been said or discussed about Cloud mining. Someone informed me few days ago about investing in cloud mining and recommended Genesis cloud mining. He told me it's some kind of investment in buying packages from the site and earn as they mine cryptocurrency. Have you heard about Genesis cloud mining services?

Haha, you have a very good point about how to take advantage of any business opportunity that presents itself, believe me when I tell you that it's not everyone that would take such strategies when it comes to buying in a strange market situation. Most people tend to follow the trend of selling once there is a shake in the market of cryptocurrency but it's the risk minded ones that capitalize on such opening and make more money from making more investments.

Well, even when some business project seems to pay, that doesn't rule out a time of recession for such business. Take for instance what happens with stock market, it is filled with fluctuations every now and then, the samething is the same story with cryptocurrency, it's worth is never fixed or meant to be stable, for in fact, it's in its instability that investors actually make more money as profit from it.

You don't head into any business investments without being sure of making a reasonable profit from it. Some careless investors makes this mistake of not researching well in whatever business project they feel like investing in and they all end up losing their money in such business investments.

Exactly my point @Steve5, the easy way to use Coinbase is the main reason why it's being recommended to new users or new investors to cryptocurrency, as it would be very simple for them to buy and trade in the exchange site without having much trouble. There was a time a read online that Coinbase is better to use than Binance especially when one is still new to cryptocurrency and it's trading.

When it comes to coins wallet, there are hardware and software wallets that people can use for all their coins. Normally, as much as software wallets looks good and also because it's free, I would prefer using of hardware wallet because it's the best when you want your cryptocurrency well protected. Trezor hardware wallet which was launched in August 2014 would be a good recommendation from me.

Exactly, this is very good strategy to buying more cryptocurrency once there is a slight change in the market. There are sellers who are with little faith in their investment and would make drastic decisions once there is any sudden change in the market like what happened to Bitcoin earlier this year. Lots of panic sellers sold their Bitcoin and the wise ones took advantage of buying more.

There is absolutely nothing to fear about using coinbase cryptocurrency exchange site because it's the best for new users or those who would like to invest in cryptocurrency. The site is very easy to use and understand unless you have no former knowledge of how to use online site before and also comparing it to other cryptocurrency exchange sites like Binance. Coinbase is a lot easier to use and understand.

I understand well what you meant by investing in banks. Is it something like opening a fixed deposit account with a bank for a specific interest rate within a period of time? I have lots of people who are into such investments with banks and it's actually a safe investment in my opinion but it's interest rate isn't that encouraging.

Well, all I can say now is that I would keep observing Bitcoin and other cryptocurrency with Ethereum. It's true what you said about the security of cryptocurrency with Bitcoin being a bit vulnerable to hackers but it's still not that bad compared to how people still see it as.

I don't belong to any trader section at the moment because I'm still studying everything I can get my hands on in order to posses all the necessary information and knowledge on cryptocurrency and Bitcoin trading before I head into it with every resources that I have as I wouldn't want to make any mistakes.

Yes of course, I have tried this method of earning from new companies looking at promoting their business by offering tokens that can be traded in cryptocurrency markets for easy conversion to fiat currency. It's not everyday that such opportunity presents itself, so anytime I happen to see one, I always try to make the most of it by grabbing the opportunity with both hands.

Haha, you are very funny my friend @Kakashi2020, although I understand the reason why you are of the opinion that most of these sites are a scam but I really wouldn't be too quick to conclude that they all are scams because I'm sure that there are people who have made money from mining cryptocurrency.

Just keep inspecting the exchange market for cryptocurrency trading and I'm sure that one day soon, the cost of Bitcoin and other cryptocurrency will come down a bit for more people to invest in it. The price actually took a little slide as of last week from $8k plus down to $7 plus.

Exactly, Cryptocurrency and Bitcoin mining isn't for everyone. In fact, investing in such digital currency isn't for everyone as well because of the cost of dealing in buying and trading cryptocurrency and the risk that comes with it. It's better to deal on what interests someone because such person would likely have more zeal to concentrate on that and succeed in it.

I believe it's as a result of the time it consumes to be able to mine Bitcoin or any other cryptocurrency and reach its withdrawal or payout threshold that discourages most people from going into mining these cryptocurrency blocks.

I know and have heard about it the electricity issues in Nigeria and it's practically nothing good to write home about. There are sometimes when there wouldn't be electricity power for 2 months without any justification and the government and ministry concerned wouldn't lift a finger to ratifying the issue. So how can one fathom going into building a mining rig with such a messy electricity power supply?

It's true that some of these faucets cryptocurrency sites are just blank sites that seeks traffic generation for their domain by offering cryptocurrency for mining. But the truth is that there are some of the faucets cryptocurrency sites that offer cryptocurrency for mining but the obvious reality is that it takes awfully a long period of time before one can reach the withdrawal threshold which makes people to lose interest after having mined for a while.

I know this very well as a credible means of trading with other Altcoins after one must have purchased Bitcoin using fiat currency on possibly the cryptocurrency exchange site called coinbase. It's the best online cryptocurrency exchange site that offer the opportunity to buy and invest in cryptocurrency with the use of any fiat currency.

I don't think I would swap Bitcoin for Ethereum because to me Bitcoin matters more than Ethereum. People tend to deal more with Bitcoin than other cryptocurrency, so therefore I'm sticking with the use of Bitcoin for all my transactions purposes.

We all aware that cryptocurrency is a growing digital currency in the world today. A lot of countries have accepted its usage while some don't, which leaves people to use it to transact using online stores that accept it. I know that Amazon accepts the use of Bitcoin and other cryptocurrency. But I would like to know other online stores that accept the use of cryptocurrency.