“To Jail for Bitcoin” or a List of Countries Where You Should Not Mention Cryptocurrency

Bitcoin jail

Governments of leading countries around the world are still discussing the technological phenomenon of cryptocurrency and deciding what to do with it. There are no single international rules for the regulation of digital currencies, as long as this issue is solved individually within each individual state. In this article we will consider which countries recognized Bitcoin, where it was banned and what all of this will lead to for market participants.

Contents:
(please, click the topic to scroll down to it)

  1. Importance of cryptocurrency on the global scale
  2. Countries which recognized cryptocurrencies
  3. Countries which banned cryptocurrencies
  4. Conclusion

1. Importance of cryptocurrency on the global scale

We live in an era of active development of digital technologies that can change the world beyond recognition in a very short period of time. Cryptocurrencies have gained such popularity due to the fact that they are based on innovative blockchain technology. Now the market has a huge number of different coins and tokens. It is worth noting that the vast majority of them have no chance of a bright future. There are no guarantees that even Bitcoin itself will be the leader of the industry in 5 to 10 years. But what we can be sure of almost 100% right now, is that blockchain projects will be able to change the real sectors of the economy in the next decade.

The current situation is very similar to the boom and collapse of “dotcoms” at the beginning of 2000s. At that time, a huge number of search engines and other Internet resources were being developed, but only a few ones that have become real whales in this industry survived to this day

2. Countries which recognized cryptocurrencies

Saying the word “cryptocurrencies”, we mean, first and foremost, Bitcoin, as it is a reference point for the digital coin industry. It should be noted that most people, who are not very experienced in this topic, are convinced that Bitcoin is very popular among criminals, because you can make absolutely anonymous transactions with it. But this is only half true, since in fact Bitcoin’s transactions are not hidden, and in order to keep them secret, it is necessary to use special mixers, which, by the way, are constantly closed. To cut the long story short, achieving complete anonymity in the Bitcoin network is a rather complicated procedure. Other coins are better able to cope with this task, for example, Monero. Let’s go through the list of countries that have recognized Bitcoin as a means of payment or are on the way to legalizing cryptocurrency:

The US occupies one of the most tolerant positions as for cryptocurrencies. Given that this state has a key role in the global economy, this gives optimism to all market participants in the global perspective. Treasury classified Bitcoin 5 years ago as a company that provides financial services. Coins must be declared, they are regarded as property, thus, it is necessary to pay taxes if you own them.

Canada is also characterized by loyalty to cryptocurrencies. Regulatory authorities of the state are watching to ensure that coins are not used for money laundering. Cryptocurrency in Canada is regarded as a commodity, and transfers are considered barter. The tax code takes into account whether the transaction was an investment or a trade transaction.

Australia allows to carry out various operations with cryptocurrency. Tax Inspectorate classifies coins as a financial asset. They need to be declared, and the owners must pay taxes.

The European Union introduced mandatory verification of users this April. This should solve the problem of money laundering. According to the representative of the EU, in only a year about 5.5 billion dollars in cryptocurrency were laundered in the territory of member countries.

There is also a number of countries besides the abovementioned world giants, where Bitcoin is officially recognized. Today, we will not write about each of them, since at the moment they do not affect the world economy significantly.

3. Countries which banned cryptocurrencies

There are also states that perceive cryptocurrencies as a threat for various reasons, and protect their citizens from them in every way possible. So, let’s review the main ones:

China is the largest manufacturing center of the planet, China has a great influence on the world economy. In the Celestial Empire cryptocurrencies are prohibited for all financial institutions. However, they are completely legalized for individuals. Despite this, China is one of the key cryptocurrency markets of the planet.

Vietnam was opposed to implementation of cryptocurrencies at the dawn of their emergence. In this country, cryptocurrencies are completely prohibited for both individuals and legal entities.

Bolivia regards cryptocurrencies as financial pyramids. In this country you can go to jail for any type of cryptocurrency advertising.

Ecuador has banned all existing cryptocurrencies, but the authorities plan to create their own coins.

Also, there are countries where cryptocurrencies have not been determined with a legal status. For example, in the Russian Federation, the draft law on the regulation of cryptocurrencies was published only in January of this year, which does not prohibit their use, but specifically regulates their movement. In fact, this bill still has to be substantially finalized and reviewed by the State Duma. There is no clear time frame on this issue.

4. Conclusion

In fact, the countries where cryptocurrencies are legalized and controlled by the regulatory authorities are quite numerous. It is also worth noting that these states are the first-class states which control the entire civilized world. Decisions of states that totally prohibit the use of digital coins do not affect the world economy at the moment.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/  

The U.S.-China Trading War Influences Cryptocurrency World, Bitmain Suffers Most

Not long ago, we discussed that Bitcoin was in danger, since Chinese authority was able to attack it any time. The US decided to keep up with opponents and stroke the crypto world of China, namely crypto asset industry.

These two countries are currently in a state of trading conflict, introducing tariffs on goods traded with each other. In June the USA changed the classification of ASIC miner, called Antminer S9, in a way that Chinese miners can be at a loss. That month the “electrical machinery apparatus”, the given category to the ASICs, had a 2.6% tariff.

Later in August, the tariff raised by 25 per cent. At the moment, Chinese mining producers deal with the fee of 27.6 per cent on their US shipments.This action has a colossal impact on Bitmain, the company based in Beijing and being the biggest Chinese mining hardware maker.

Bitmain tried to cope with the pressure by filing for a Hong Kong IPO. It could reportedly rise $3 billion. The company’s filing also mentioned the fact that about 62.8% revenue came from overseas in first half of 2018, though there was no comment on how many sales had come from the US.

The crisis came to Bitmain at a very bad time. IPO filing showed the company’s turnover dropped in second quarter of 2018 drastically, losing about $400 million in compare to $1.1 billion net profit in the first quarter.

One of the analysts, Mark Li, reckons the US tariffs aim at making Chinese hardware less competitive than opponent ones produced in other countries. He also added that Bitmain’s boardship is more aware of technology arms race, where the company is falling behind

The cold trading war between China and States can last for a long time, yet no one is sure how much loss or profit it can bring, we are only able to watch and wait. Now we want to remind you

Mining Complexity: What It Is and Where It Will Get

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Bitcoin Mining: How Are the Most Popular Coins Mined Today?

How to mine BTС today?

Quite a lot of people really managed to make a fortune out of Bitcoin mining. And many still manage to do so today. In this article, The Coin Shark will tell what mining is, how the most popular cryptocurrency is mined today, when the latest Bitcoin will be mined, what are the prospects of the digital currency mining industry and other things that every crypto-enthusiast is interested in.

Content:
(please, click the topic to scroll down to it)

  1. What is mining?
  2. How is Bitcoin mined?
  3. How many Bitcoins can be mined and what’s the time period for that?
  4. Types of Bitcoin mining
  5. Prospects of Bitcoin mining
  6. Conclusion 

1. What is mining?

Today, even those who are not really familiar with cryptocurrencies have definitely heard something about mining. However, it is not always clear what it actually is.

Mining is a computing operation. In fact, this is a kind of an attempt to solve a complex mathematical problem. The particular “X” that must be found as the result of the calculations is called a hash. If it is successfully found a new block is generated in the cryptocurrency blockchain. A block is a structural unit where the information about cryptocurrency transactions is recorded. It is sometimes not that easy to get all those terms, so let`s take a look at a rather simple example: a block is a kind of a banknote. Any banknote is a legal tender only if it looks in a certain way. It has a special design, watermarks, other security features, particular density, etc. Each banknote must meet certain specified parameters, otherwise, you will not manage to buy something for it and it will be just a piece of paper. The same thing with cryptocurrencies! Transactions are confirmed by being recorded into the blocks, and the blocks must be valid, must have a particular form. To meet this form, to generate a valid block, a hash with required parameters should be found as the result of computing operations. And that is exactly what miners are responsible for!

2. How is Bitcoin mined?

Bitcoin is a Proof-of-Work algorithm-based digital currency, that is why BTC is mineable. Proof of work actually means that transactions are confirmed, and the blocks are generated only if a certain work is done – new coins are issued only when one has managed to find the hash and create a new valid block. Every new block is generated approximately once every ten minutes. The Bitcoin code is written in such a way that, depending on the computing power in the network, the difficulty of the hash varies. In other words, the more powerful the miners are, the more difficult it is for them to find the hash. That is how the system maintains the balance between the available computing power and the complexity of the calculations. It does not matter whether only several personal computers are engaged in Bitcoin mining (as it was in 2009) or huge industrial mining farms (as it is happening today) – it will always take approximately ten minutes to generate every new block.

So, when miners do their calculations successfully and manage to find the hash, they are rewarded. This reward used to be as huge as 50 BTC. However, back then the number of coins was not actually a significant fortune. According to the Bitcoin code, this reward decreases by half every 210 thousand blocks. Since each block of Bitcoin is generated in about 10 minutes, it takes about four years to get 210 thousand blocks. So, every four years the reward is reduced by half. In 2012, there was the first reduction from 50 BTC to 25. The next reduction took place in 2016. Today miners get 12.5 Bitcoins for each generated block.

3. How many Bitcoins can be mined and what’s the time period for that?

It is only possible to mine a total of 21 million BTC. This maximum amount of cryptocurrency is provided by its programming code. First of all, this limitation is designed to prevent inflation and preserve the value of Bitcoin. Actually, those things are usually valuable, that have a limited supply, and if Bitcoin had an unlimited emission, like Ethereum and some other virtual currencies, it would have been potentially subject to inflation. As of mid-October 2018, according to coinmarketcap, the number of BTC coins in circulation reached 17,332,325, which means that only a bit more than 3.5 million coins remain to be mined. It would seem not a big deal – almost all Bitcoins have already been mined! But truth is, it will take more than a century to mine the remaining coins!

So, let’s see how long will it take for miners to get all Bitcoins. To calculate this, we should make several mathematical operations. Of course, these operations are not as complicated as those required to find Bitcoin hash. The computing power of your calculator will be enough! So that is what we have:

The reward is reduced by half every 210 thousand blocks (approximately once every four years). Accordingly, the number of coins issued will decrease every four years. So, 10.5 million BTC was issued during the first “four-year cycle”, when the reward for each block was 50 BTC. Then the number of coins is reduced by half with each cycle. According to this formula, the very last BTC will be mined about the year 2140! Interestingly, in the first seven “four-year cycles”, miners will extract 99% of the coins, and it will take more than a century to get the remaining 1%.

4. Types of Bitcoin mining

About ten years ago, when the first peer-to-peer decentralized payment system with a cryptographically protected digital cash (yep, it’s all about Bitcoin) was launched, there was only one, or perhaps several miners, in the network. Probably it was an ordinary PC or laptop owned by Satoshi Nakamoto – the mysterious Bitcoin developer – and maybe some other PCs owned by those involved in the development of Bitcoin. So initially users were able to mine Bitcoin using their own devices. The computing power of their processors was enough to perform necessary calculations and find Bitcoin hash. This type of mining was called CPU-mining. However, with the growing popularity of Bitcoin, more and more people joined the system, the load and difficulty increased, and eventually, it became clear that even the most powerful PC had not enough power to mine Bitcoin effectively. A casual user with his laptop was left behind. And the reason is that a probability of getting a reward is equal to the ratio of your individual computing power to the power of the entire network. So a new solution was found – users started mining Bitcoins using the computing power of video cards. That new type of mining was called GPU-mining. Several video cards were connected to a computer and the entire powerful device used special software to mine BTC. Today, a number of cryptocurrencies can still be mined using processors or video cards, but this is not working out with Bitcoin. To be able to find Bitcoin has users should make really complex calculations and special high-performance devices are required. These are ASIC-miners – a special equipment with high computing power and price.

Today users who have special equipment for BTC mining combine their computing power in special mining pools. Pools are groups of miners who use their computing power together and jointly perform the operations necessary to obtain Bitcoin hash. The probability of getting a reward is much higher than if users mine the cryptocurrency solely. This reward is then distributed in proportion to the computing power “invested” by each individual miner.

Moreover, cloud mining is also relatively popular. This, in fact, means that a user simply rents computing power from owners of large mining farms, who are often the manufacturers of mining equipment. Despite the fact that today this type of mining is gradually becoming less attractive, it still has its advantages – users do not need to buy equipment, place it, set up, maintain its operation, update hardware, pay for electricity, etc.

5. Prospects of Bitcoin mining

Many believe that the mining era is almost over and there are some reasons for this. After all, as we have already figured out, even the cryptocurrency code itself provides a reduction of the reward. If Bitcoin rate does not increase significantly, nobody will be interested in running expensive mining equipment and earning a couple of thousand satoshi (1 satoshi is 0.00000001 BTC).

Today mining is a fairly centralized industry with and it is rather difficult for beginners to join it. Especially for those who do not have a lot of money. Even owners of huge industrial mining farms experience some problems. For example, some of them realize that the equipment they used in 2017 cannot provide the same profitability in 2018. Today BTC mining is largely controlled by mining pools one hand and owners of huge industrial mining farms on the other and this tendency for mining to become more centralized is likely here to stay.

6. Conclusion

So, Bitcoin mining is not a “gold rush” anymore. The increased difficulty made it way more centralized and way less available for casual users. Today, mining still provides big profit for those who own huge mining farms or at least some high-performance equipment. The Bitcoin rate is far from the historical maximum, but nevertheless, it remains quite significant, and most importantly, according to many experts, has prospects for an even greater increase. However, today it is practically impossible to make money on mining without big preliminary investments. Mining prospects depend on the rate of cryptocurrency, and on the other hand, are also predetermined by the Bitcoin programming code itself. However, this predetermination can be defined differently. Yes, the reward is reduced every four years, so mining can become less appealing in the future. But this reduction can be compensated if Bitcoin price increases. Anyway, today many crypto enthusiasts consider other mining options. Sometimes it is easier to mine other coins, and then, if desired, exchange them for Bitcoin. One thing is clear – the mining industry has been changing, and the time will tell,  what will happen to it in the medium term.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Dollar-Pegged Stablecoins Exceeded the Price Point of $1

Stablecoins (cosmonaut)

Although the main feature of stablecoins should be their unchanged price (namely, 1 unit of the currency they are backed up by), it seems like cryptocurrency is just not meant to stay stable.

Here is the chart of how much the major US-tied stablecoins are currently worth:


Source: CoinDesk

As we can see, all of the stablecoins went up the actual 1-dollar price limit, only Tether dropped a little bit.

Given the fact, that stablecoins are influenced by many factors, including volume in circulation, it seems like they will never be able to be fixed at one particular price. Thus, Roger Ver was right in his assumptions.  

We remind you:

Roger Ver: Stablecoins Aren’t Stable

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

A Church in Russia Was Mining Crypto Illegally

A protestant church in Siberia was accused of illegitimate cryptocurrency mining which resulted in the huge volume of electricity consumption. The church was fined by the court and forced to pay over 1 million roubles (around 16.5 thousand dollars).

The church “Grace” received electricity at a subsidized price and used the excess power for mining. The illegal activities continued from May to August of 2018.

Despite all the evidence that the police have, the church representatives deny all the accusations and claim that such an amount of electricity was required to heat the building of the church and print out religious hand-out materials.

We remind you:

Google Chrome Will Launch Extensions for Protection from Illegitimate Mining and Cryptocurrency Theft

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Bitcoin Is in Danger: Chinese Hegemony Over the Industry

In June, we mentioned that according to the Ripple’s CEO, China owned about 50% of Bitcoin as there were 4 major mining pools which produced them. As the time has passed, the figures have also raised quite impressively.

As the research of Princeton University and Florida International University shows, now China account for 75% of the whole mining activity of Bitcoin, i.g. #1 cryptocurrency now has large geographical centralization. The biggest threat is that the Chinese authorities may start controlling it or even influencing its stability and security.

The study reports, since 2015, more that a half of total hash power has been composing by the mining pools based in China. One of those is an infamous company – Bitmain. Moreover, the research tells about the ways China can harm Bitcoin.

China adopted a nasty attitude towards Bitcoin long ago, thus nothing can prevent it from attack Bitcoin, thought hegemony over the network still does not allow the Chinese government to destroy it. Bitcoin is a decentralized network, but Chinese authorities spare no effort to control it, as it does to the whole China.

The report has summed up that China brings danger to Bitcoin. We remind you

Founders of Alibaba, Bitmain, Binance, Huobi, OkCoin Got On the List of 2018 China’s Richest Businessmen

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Bitcoin Investment: Should I Invest in Bitcoins?

Bitcoin currency has already been used as a kind of a fiat money alternative for about 9 years. It is relatively popular all around the world. The first digital currency has made many people go nuts following the impressive ups and dramatic downs of its exchange rate.

Today, in October 2018, the whole cryptocurrency industry is looking forward to observing a new crypto-“miracle”. Search engines are overflowed with all those “How to invest in cryptocurrency?”. And this is not particularly surprising. Traders and different investors who own a significant capital expect cryptocurrency to be a promising investment tool in the long term. And if we talk about cryptocurrency, that basically means Bitcoin. Well, of course, there is a number of altcoins that can be worth making investments, but the first digital currency is definitely the most popular one.  

People still talk about investing in Bitcoin and this topic is interesting for many traders, investors and casual users. So, let’s take a closer look at this issue.

How to invest in Bitcoin

Before making an investment, one should obviously choose the way he or she wants to get some BTC. First of all, it depends on financial capacities. There are indeed many different options to invest in Bitcoin, but we will focus on two main ways that are currently the most popular and probably also the most effective.

Option №1: Taking advantage of the rate differences as a way of BTC investing

You might have already come up with the question, why people are still interested in making investments in Bitcoin when it costs less than $7 thousand per a coin? Well, influencers, opinion leaders, independent experts, and different analysists are confident that we will soon observe another sustainable increase of Bitcoin rate. And that is why many people start thinking about investing in cryptocurrency to make money out of the rate differences.

But what is the way to do that? It is actually pretty simple. All you need is some basics of math. In fact, investors are not really sad about the fall of Bitcoin. Many of them are even happy, especially those who believe that the cryptocurrency has a great future ahead. Today, if a trader purchases a BTC for $6,5 thousand, he or she will manage to make a good profit, in case BTC rate increases. Some really expect it to rise up to $30 thousand, and in this case, it will really be a good bargain. The key point here is whether the rate increases or not, of course.

Option №2: BTC mining

Besides, users can invest the special equipment that is used to mine Bitcoin. You may already know, that each BTC is actually a kind of a reward, given for the performance of certain calculations, necessary to issue new coins. Today these calculations are rather complex and require special high-performance equipment called ASIC-miners. The more users are there in the system, the more difficult are these calculations. This is called Bitcoin difficulty and it ensures that it always takes around 10 minutes to create a new Bitcoin block.

Investing Bitcoin this way means that you can get a certain number of BTC and store it till the rates grow or exchange it for another digital currency like Ethereum.

However, you’d better do not think that these two investment options will bring you fast and easy profit. This is possible only if the cryptocurrency rate increases significantly and in the case of mining, if your equipment has enough performance.

By the way, here is one more option of BTC investing. It`s actually difficult to say that it is a comprehensive way to invest in the cryptocurrency, but, anyway, many people use it today.

Bitcoin faucets

These are special websites, where users can get a reward for making certain easy tasks, usually related to online advertising. These rewards are paid in satoshi. The thing is, that one BTC includes as many as 100 000 000 satoshi, so one satoshi is only 0,00000001 BTC. So it`s actually a tiny piece of the market`s largest cryptocurrency. Investing BTC using Bitcoin faucets is not really effective, as you may never manage to collect at least one single coin.

Is Bitcoin a good investment

Well, if you have already decided to invest in digital currencies then Bitcoin will probably be the best option. Not only this cryptocurrency is a market leader and the most popular digital coin, but also it has relatively good liquidity as compared to other virtual assets. Many cryptocurrency followers believe that Bitcoin has a potential to become the main means of payment in the future. However, there are also those who bet on other digital currencies, as well as those who do not consider virtual coins as an investment option at all.

By far it seems that the question is it worth investing in Bitcoin remains undetermined, so let’s make it a little bit more clear. Bitcoin is relatively anonymous, decentralized and has a limited number of coins available for mining. This is, in fact, why hundreds of thousands of cryptocurrency followers made their decision in favor of BTC.

Anonymity

Investors do not have to disclose their personal data. The information about each transaction is public and everyone can see the address of the cryptocurrency wallets of a sender and a receiver, as well as how many BTC were transferred. However, the information related to owners of cryptocurrency wallets is not disclosed, so the whole system is relatively anonymous.

Decentralization

Bitcoin worth investing, as it has a decentralized management, which means there is no single administrative center. Transactions are carried out directly between users in a peer-to-peer network. However, Bitcoin users still have to pay certain commission fees for transfers of their virtual assets, because every transaction is confirmed and recorded in the blockchain by miners who receive rewards for this. Today small transactions are often not effective at all, as the commission fee is rather big. However, if a transaction is large, the commission fee will be relatively low.

Limited number of coins

Is Bitcoin a safe investment –  “yes” is the answer of many people, who believe that a limited number of Bitcoins to be mined is a strong advantage of the digital currency. It will prevent BTC from inflation.

“Why should i invest in bitcoin?– you may ask. The answer will probably contain both pros and cons. And that`s because Bitcoin has some special features, which are:

  • 24/7 trades, that allow making investments at any time;
  • most indicators have a rather good quality;
  • high volatility;
  • possible positive prospects of cryptocurrencies and, as follows, positive expectations related to Bitcoin investments.

Bitcoin investment trust

The risk remains here almost all the time and no one can guarantee that your money is 100% safe. Here are several examples why it can be rather risky to make investments in the largest cryptocurrency by market capitalization. Yes, Bitcoin still has a decentralized management, however, in a certain way the system is getting more and more centralized. This risk of investing in cryptocurrency is related to the fact that BTC rate starts depending on cryptocurrency exchanges.

Moreover, the significant part of all Bitcoins is owned by those who are engaged in mining or lease out high-performance mining equipment. Making new Bitcoins requires really a lot of computing power and gets more and more expensive. The competition within the system increases and it is almost impossible for casual users to join Bitcoin mining. That is why many people have already switched for other digital currencies that are easier to mine and can be later exchanged for BTC.

In some cases, Bitcoin`s anonymity is also a risk. Anonymous deals can be used for money laundering, as there is no effective state regulation of cryptocurrency transactions.

How to invest in Bitcoin stock

There are special cryptocurrency funds, similar to mutual funds that exist in the world of bonds and stocks. These funds are managed by private parties and it influences the interest rate. For instance, some cryptocurrency funds provide 1-2% per day.

Bitcoin investment strategy

There are two main types of cryptocurrency investment strategy.

The first one: investors buy BTC and sell the cryptocurrency when its rate increases.

The second one: Bitcoin holders trade their digital assets on cryptocurrency exchanges. This strategy is very similar to Forex trading.

Minimum Bitcoin investment

Many people decide to invest in Bitcoin because they hope to get huge profits in the long term. So, even a small investment is considered to be rather promising by many cryptocurrency followers. Eventually, the smaller is an investment – the lower is the risk. But, on the other hand, a really small investment can just be useless. Anyway, how much to invest in Bitcoin remains an open question and everyone has their own opinion.

Who said users can only invest their money? It is also possible to get BTC for free by investing one`s intellectual work. Well, just a bit of BTC, to be honest. Special websites offer users the opportunity to earn satoshi – the smallest fraction of Bitcoin – for the performance of different easy tasks, usually related to advertising. These websites are called Bitcoin faucets.

The main advantage of such an option is that users do not have to invest a single penny to get a piece of BTC, however, the drawback is also rather significant – it will take a really long time to get at least one BTC.

Invest in Bitcoin mining

Mining is actually how new digital currency is issued. Making investments in Bitcoin mining means buying special mining equipment or renting it from different providers. Cloud cryptocurrency mining is also possible. These services lease out their mining equipment for users to rent a particular amount of processing power.

There are some experts who think that cloud mining is actually the best way to invest in Bitcoin, as users don`t have to purchase, set, maintain and update expensive mining equipment.  

Anyway, both traditional and cloud mining still require preliminary investments.

Bitcoin investment sites

Before making investments in Bitcoin, basically, before purchasing it, you should have a cryptocurrency wallet to store your digital assets. Today Bitcoin holders and those who want to join them are lucky to have a large variety of different cryptocurrency wallets. These are, for example, mobile, hardware, online, desktop, cold, and even paper wallets.

If you are planning regular digital currency investment, we recommend having a local hardware wallet. However, it actually depends on what is more convenient for you and what meets all your requirements and there is really a number of options you can choose from. Do not forget to activate your cryptocurrency wallet.  

Usually, Bitcoin is purchased on cryptocurrency exchanges. It is really important to choose the right one, so we recommend taking the following criteria into account:

  • a region, where the exchange is registered;
  • input and output, exchange, transfer options, etc. – basically, what you can do with your funds in a digital wallet;
  • commission fee level;
  • reputation;
  • security level.

This will help you figure out whether is it safe to invest in Bitcoin.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/