Bitcoin and Cryptocurrency News

Wallet app, Abra, will start offering support for Ethereum, the second most popular cryptocurrency behind bitcoin.
Abra is digital wallet started by Bill barhydt who was the former director of Netscape, remember them? Users can use bank accounts, credit cards and cash to fund their wallet and buy cryptocoins. Abra’s storage ability is also going to get an upgrade so that users can have three different types of coins in their accounts.
Abra is also developing a multi-signature transaction model so that both users and apps with have to approve a transaction. Today most places us the single signature model to approve transactions. This will add a level of security that is needed in the cryptocurrency markets.

Bitcoin Rockets Past $12000
It’s beginning to look a lot like Christmas – at least it is in the Bitcoin market. Bitcoin delivered an early present yesterday when it set an all-time high in trading at more than $11,000. It’s a record for any cryptocurrency and will certainly have many early investors wearing smiles for the entire month of December.
For early investors, the good things just keep getting better with bitcoin. It has rocketed past the $12,000 for a whopping gain this year over 1000%. For Christmas and Hannakah who could ask for anything more than this major success.
There is concern of a correction but that comes with the territory. Will the uptick ever stop? It seems of all cryptocurrencies, bitcoin is most established. For big players entering the cryptocurrency market, bitcoin is where it’s at right now. As cryptos flourish, other cryptos that sound promising might work out and become more popular.
One example of this is audiocoin. It’s meant for the world of music and somehow a bridge for payments. The only thing is that most people are downloading music for free and this leaves little room for any type of payments. Will it go anywhere remains to be seen. But like bitcoin several years ago, it’s trading for pennies.
There are dozens of cryptocurrencies out there now.

Monero Making Gains
Bithumb, the Asian crypto exchange listed Monero and the coin scored its greatest gain jumping by 84%. Along with all the major cryptos its continuing an uptrend and over $300. In general, it’s tripled in the last six months.
Monero was released in 2014. Like bitcoin, it was available for pennies on the dollar and this run has moved it up with healthy profits for early investors. Though not as popular as bitcoin, ethereum or litecoin, Monero is still a major player in the cryptocurrency market.

Dash Coin Making Gains
Along with most cryptocurrencies, dash coin has been making gains as well. It’s now at $850 on the Bithumb exchange and is the third most popular traded coin. The dash protocol was upgraded and another factor is the blockchain was upgraded to 2mb and transaction fees were lowered.
KuvaCash was also established by Dash. This promotes the currency for use in Zimbabwe. For the country in the midst of a political coupe, the dash coin represents some security for their money.
Dash will also be offering Zimbabweans a method of exchanging US dollars for dash coins via telephone.

Ethereum Breaks $500 Mark
The second largest cryptocurrency is making new gains. It’s finally past the $500 mark at $511. The total market cap is over $40 billion dollars. The gains seems to follow all the cryptocoin action lately.
Overall most major cryptocurrencies have only gains recently. Major gains that is compared holding a penny stock that just went hog wild. For early investors, it’s time to pop a bottle of champagne!!

Bitcoin Buying Guide – Easy 3-Step Guide to Buying Your First Bitcoin

Bitcoin Buying Guide – Easy 3-Step Guide to Buying Your First Bitcoin
By Eric Summers

Looking for a Bitcoin Buying Guide? Wondering where to start? People have a lot of misconceptions about bitcoin – the very first widely known and accepted cryptocurrency worldwide.

A lot of people think for example that only hackers and shady people use it. However bitcoin is actually going mainstream with everyone from TigerDirect to Expedia.com to Dell and even Subway accepting payments in bitcoin now.

Why so popular?

Well, bitcoin has a lot of benefits over other currencies. For example, you can send bitcoins to someone as payment without having to go through the bank middleman (and get hit with extra fees). It’s also much faster than sending money via a bank wire or transfer. You can send bitcoins to someone and have them receiving the coins in seconds.

With all of this, it’s no surprise that many people are now trying to buy bitcoin for the first time. However it’s not as easy as going to your bank and withdrawing bitcoins – or going to a store and plunking down some hard-earned cash for bitcoin.

The system works a bit differently than that. This Bitcoin Buying Guide will go over a few things you need to know before you buy – so you can buy safely and securely.

First of all, while the price might be over $2000 us per coin, you don’t have to buy an entire bitcoin. Most places will let you buy portions of a bitcoin for as little as $20. So you can start off small and go from there as you get more comfortable with the way things work.

Secondly, this article is for general purposes only and not to be taken as financial advice. Bitcoin can be risky and before making any purchase you should consult with your financial advisor to see if it’s right for you.

So here are 3 easy steps to buying Bitcoins:

#1 Get a Bitcoin Wallet

The first thing to do before you buy your coins is to get a virtual wallet to store your coins. This wallet is a string of text that people can use to send you bitcoins.

There are a number of different types of wallets including ones you download to your phone or computer, online wallets and even offline, cold storage wallets.

Most people prefer to get a wallet on their phone or computer. Popular wallets include Blockchain, Armory, Bitgo MyCelium and Xapo.

Usually it’s as simple as downloading the wallet to your phone as an app or downloading the software to your computer from the wallet’s main website.

#2 Decide Where to Buy

There are several types of places to buy and each one is a bit different. There are online sellers that will sell you bitcoins directly for cash (or bank wire or credit card).

There are exchanges where you can buy and sell bitcoins from others – similar to a stock market. There are also local exchanges that link you up with sellers in your area looking to sell.

There are also ATMs where you go to purchase with cash and get your coins delivered to your wallet in minutes.

Each bitcoin seller has their benefits and drawbacks. For example ATMs are great for privacy, but they’ll charge you up to 20% on top of the current price, which is ridiculous. (On a BTC price of $2000, that $400! So you’re paying $2400 instead of $2000).

No matter where you decide to buy, remember to do your research and go with a trusted seller with a good reputation and strong customer service. First time buyers will especially have questions and may need the extra support to help them with their first transaction.

Take your time and research the different places to buy before you decide. Factors to consider include coin prices, extra fees, method of payment and customer service.

#3 Buy Bitcoin and Move It To Your Wallet

Once you’ve found a place to buy, get your funds ready (i.e. you may send a wire transfer or use your Visa to fund your account). Then wait for a good price. (Bitcoin prices are always fluctuating 24 hours, 7 days a week). Then place your order when you’re ready.

Once your order is filled and you have your coins, you’ll want to send them to your wallet. Simply enter your bitcoin address and get the seller to send you your bitcoins. You should see them show up in your wallet within minutes to an hour (depending on how fast the seller sends them out).

Voila, you are now a bitcoin owner. You can now send coins to pay for other goods and services, or hang on to them for a rainy day.

One last thing to remember: bitcoin is still in its infancy. There are huge price swings and the currency can be risky. Never buy more bitcoins than you can afford to lose.

Want to learn more? Visit http://www.BuyBitcoin101.com for more tips, articles and guides.

Or for a list of the most trusted Bitcoin sellers with reviews of each, visit http://www.BuyBitcoin101.com/where-to-buy-bitcoins/

Article Source: http://EzineArticles.com/expert/Eric_Summers/2424822

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An Overview of Bitcoin Exchange

An Overview of Bitcoin Exchange
By Emma A John

Technology is progressing by leaps and bounds. It is introducing new terms and systems for business and communications on a daily basis. Internet has made a large contribution in this advancement; especially when it comes to the field of business. Online trading or online currency trade has recently attracted many traders. One of the common forms on online trading is Bitcoin Exchange.

What is Bitcoin?

Bitcoin exchange is a new system of money for the internet that works on the concept of digital currency. It initializes the peer to peer payment system for individuals having no central authority. A new concept of crypto currency is used that was initially introduced in 1998. Cryptography controls the creation and transactions of digital money. Bitcoin works through a software system and does not have any central controlling authority so it is equally managed and controlled by its users around the globe.

Working of Bitcoin Exchange

One can work with Bitcoin exchange just like it works with any other kind of currency exchange. Just like working with banks, it is easy to make transactions through Bitcoin Exchange. Analogous to physical trade, the user has to pay to purchase Bitcoins. The difference is that the person has to open an account with some Bitcoin Exchanger. The paid asset of the user will be available in the form of digital currency that can be used to purchase any kind of product. Bitcoins can be exchanged with other bitcoin holders too. This system works similar to the money exchanges in the banks.

Making transactions

Almost in all payment systems, the payments can be reversed after making a transaction through PayPal or credit cards. But with Bitcoin, the situation is changed, as after making a transaction, one cannot get it back or reverse it. So be careful while exchanging your bitcoins with currency mediums because you may face chargeback issues. It is preferable to make exchanges with other bitcoin holders near to you.

Benefits of Bitcoin Exchange

Bitcoin currency exchange is quite new. It’s a sort of software base payment system where you make transactions digitally. Here is how it can benefit you:

� Make transactions quicker than other systems

� Always availability for transactions

� Make transactions from anywhere in the world

� Make safer transactions

� Perform transactions without interference of any third party

� Monitor all transactions from home PC or from Smartphone

� Purchase any kind of asset using bitcoin

Drawbacks of Bitcoin

Bitcoin exchange is an innovation in economical systems of the world. When practically used, some drawbacks come forward too. Some of them are as follows:

Acceptance in market

The number of bitcoin users is growing but still it is not a widely used currency or exchange system. Its level of acceptance in financial matters is still low.

Instability

As Bitcoin is not commonly used, it is not a stable currency. However, there is a hope that this instability will reduce as the user list and amount of bitcoins in the market become more readily used.

Partial development

A big problem is that the Bitcoin software is still in its beta phase and there are a number of imperfect features, which still need to be fixed. New modules are under process of development to make bitcoin exchange safer for all.

If you want to learn about bitcoin exchange please visit http://www.forexminute.com/

Article Source: http://EzineArticles.com/expert/Emma_A_John/1444923

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