You hear the word “cryptocurrency” almost every day, I suppose. World news, popular websites, magazines, Reddit discussions are full of it. Cryptocurrency is virtual money. Have you ever seen when in modern movies or series people send large sums through the wallet? This is the best advantage of cryptocurrency – anonymity. If you don’t want … Bitcoin Price Analysis: BTC/USD Breakthrough Is Imminent Bitcoin (BTC) has been locked in a tight range between $9,800 and $9,400 since Monday. At the time of writing, BTC/USD is changing hands below $9,700, mostly unchanged both on a day-to-day basis and since the beginning of Tuesday. On the intraday Covid-19 has affected every financial instrument, some negatively and others positively. However, cr Speaking at the JP Morgan 48th Annual Virtual TMC Conference on May 14, Visa chairman and chief executive Alfred Kelly revealed his position on the leading cryptocurrency.
You hear the word “cryptocurrency” almost every day, I suppose.
World news, popular websites, magazines, Reddit discussions are full of it.
Cryptocurrency is virtual money.
Have you ever seen when in modern movies or series people send large sums through the wallet?
This is the best advantage of cryptocurrency – anonymity. If you don’t want someone to know where and why you send money, crypto is your choice.
Least but not last, cryptocurrency trading is very popular because it allows earning money sitting in your house.
Crypto apps are so popular around the world that even healthcare app developers started to make such apps.
But still, there are a lot of arguments that crypto is not so good as our common money like EUR, USD, GBP, etc.
Cryptocurrency is better for fiat money because:
Speaking about cryptocurrency trading I need to say that many people think that it is very easy!
“Why do I need to have experience for trading here?”
Oh, believe me, you need it. 80% of newcomers lose money starting trading without experience.
Before you register on the exchange or choose a crypto trading bot, spend some time reading, searching, learning.
Also, don’t forget to choose the best bitcoin wallet for your assets, because the safety of your crypto is very important.
You need to understand that anonymity is not only the biggest advantage but the biggest disadvantage as well. There are a lot of scammers in the crypto world, and if you send money to their wallet, you will not be able to get it back.
That is why I am sure cryptocurrency trading can be profitable even for people with low experience.
The most important thing during the first year or two is to be aware of all the risks that are waiting for you and do all the best to avoid those risks.
Stay safe and good luck with trading!
Cryptocurrencies Price Prediction: Bitcoin, Ethereum & Ripple – American Wrap: 5/19/2020
Bitcoin Price Analysis: BTC/USD Breakthrough Is Imminent
Bitcoin (BTC) has been locked in a tight range between $9,800 and $9,400 since Monday. At the time of writing, BTC/USD is changing hands below $9,700, mostly unchanged both on a day-to-day basis and since the beginning of Tuesday. On the intraday charts, BTC is supported by 1-hour SMA100 (currently at $9,600), while the resistance is created by 1-hour SMA50 on approach to $9,800. The ultimate bullish target is created by a psychological $10,000.
Ethereum Price Analysis: ETH/USD Ready To Resume Recovery
Ethereum (ETH) is changing hands at $214.20, mostly unchanged since the beginning of the day. The coin has recovered from the intraday low of $209.22, but further upside seems to be limited so far.
Ethereum’s daily trading volume has exceeded $14.5 billion, while its total market value reached $29 billion.
Ripple Price Analysis: XRP Flirts With 55 Daily EMA
Ripple has moved lower on Tuesday and the price is now testing the 55 exponential moving average (EMA) once again. Historically looking at the chart, the 55 EMA has been respected on a few occasions.
If the daily candle does closer lower on the session then the 0.18 support zone could be retested again. During December the market hit the aforementioned support level and the price moved higher with dramatic effect.
Photo by Moose Photos from Pexels.
See more from Benzinga
- Bitcoin, Ethereum & Ripple – American Wrap: 5/18/2020
- Bitcoin, Ripple & Monero – American Wrap 5/13/2020
- Bitcoin, Ethereum & Ripple – American Wrap: 5/11/2020
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Author: FXStreet News
Morning Brief: Cryptocurrencies Are Here to Stay
Covid-19 has affected every financial instrument, some negatively and others positively. However, cryptocurrencies have been a beneficiary of the pandemic, with Bitcoin appreciating on a year to date basis. We speak to T.M. Lee, co-Founder of CoinGecko to find out why. He also warns of the risks, as the track record to this new store of value is short.
Download the BFM mobile app. Stay at home and stay up-to-date.
Visa CEO Says Payments Giant Supports Bitcoin (BTC) and Cryptocurrency Exchange Coinbase As Digital Currencies Take Root
Speaking at the JP Morgan 48th Annual Virtual TMC Conference on May 14, Visa chairman and chief executive Alfred Kelly revealed his position on the leading cryptocurrency and how he imagines the digital asset industry will evolve.
In a fireside virtual chat with JP Morgan securities analyst Tien-Tsin Huang, Kelly remarked that the industry has different components producing assets with very different functionality.
“So first, it’s important to distinguish between cryptocurrencies and digital currencies. Cryptocurrencies like Bitcoin continue to be more [like] commodities. If you look at Bitcoin as an example, many more people are buying Bitcoin and holding it versus actually spending on it, whereas digital currencies backed by a fiat currency are a real potential emerging payments technology that could be very interesting.
As it relates to those, we support the case for digital currencies. We actually think that digital currencies could be additive to the payments ecosystem as opposed to being any kind of replacement or negative. And we think they could potentially be really valuable in emerging market areas, where you’re bringing people out of cash dependence and into more of the financial mainstream and moving unbanked people to become ideally banked people. So we want to be there and support digital currencies, and we are.
We’ve got a relationship with Coinbase in the UK, where their cryptocurrency can be converted over to a Visa credential and a fiat currency and used at any of the merchants where Visa is accepted. And we believe over time, digital currencies can go into wallets as well, since we have relationships with a lot of wallets. That’s a good thing as well.”
In addition to Visa’s relationship with Coinbase, the payments giant has also been developing technology to expand the emerging asset class. Last week, the U.S. Patent and Trademark Office published the company’s patent application for a new system designed to create and manage a variety of digital currencies.
“So today, we deal – every day we settle in 160 different currencies around the world, and there’s no reason why we couldn’t take on digital currencies as part of that if they get accepted as a real way of – real means of exchanging goods and services by using digital currencies.”
Kelly also addressed Facebook’s crypto project Libra – which he is not ruling out as a key player in transforming global payments. Visa was named as an initial founding member when the project was first announced in June of 2019 but dropped out a few months later prior to the Libra Association’s first official meeting. However, despite losing several other key members, including PayPal, Stripe and eBay, Libra continues to appoint heavy hitters who can tackle regulatory concerns and address government officials who remain critical of the project.
“In the case of Libra, we were intrigued with Libra whenever that was, months and months ago, and we remain quite intrigued by it. At the time, we elected to not join the association because we didn’t see under that structure how regulatory requirements were going to be able to be met, and we certainly have a very strong relationship with regulators around the world, and we didn’t want to do any harm to those relationships.
But we remain engaged, we continue to talk to Libra. And I think if they continue to advance and they’re making progress – I don’t know when it was, 10 days ago … they hired a CEO – we’ve remained engaged with them. And one never says never, we continue to be very interested in what Libra is looking to do and, as I said, how they potentially could be additive to the payment ecosystem.”
The discussion coincided with revelations last week that JP Morgan Chase, the largest bank in the US, is providing banking services for leading cryptocurrency exchanges Coinbase and Gemini, its first such clients in the cryptosphere.