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Wednesday, 22 November 04:40 (GMT -05:00)



Foreign exchange market

Cryptocurrency for Investors: Vulnerability Overweighs Profitability?


Cryptocurrencies have been dominating international headlines over the last few months. Unfortunately, there are some unpleasant speculations and manipulations seen in the market despite the continuous growth shown by Bitcoin, Litcoin, Ethereum and other popular digital currencies. After Bitcoin, which is the leading cryptocurrency, saw a 20% drawdown, Ethereum, which is the second-biggest digital currency in terms of market capitalization, followed its senior brother. While Bitcoin retraced for objective reasons, Ethereum crashed on rumors about the its founder’s death, which turned out to be a lie. The founder is safe and sound. So, later on, the digital currencies managed to recover, but then plunged again. Moreover, this has been a continuous roller coaster ever since digital currencies came into existence.

 

 

 

 
The thing is that crypto currencies has been vulnerable and sensitive about many external and internal factors, which is why they have been so volatile. And that’s something that worries international investors and has a negative impact on the entire sector and its market capitalization.
 
However, all of that is just one side of the coin, and it’s purely financial. However, cryptocurrency trends have been heavily influenced by other news beyond the financial scope. This has to do with revealing fraudulent schemes, which in its turn creates concerns and discussions. All of a sudden, investing in cryptocurrencies doesn’t look that secure. The thing is, those currencies are anonymous, and that’s why they have been heavily used for money laundering and making dirty money of criminal nature.
 

 

Why do they send cryptocurrency exchange owners to jail?

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So, some of those drawdowns in the market were triggered by the news associated with criminality. The owner of Coin.mx was sentenced to 5 years in jail for money laundering schemes involving digital currencies. Apparently, the exchange is now closed.
 
Some members of the international community also claim that he was involved in big-scale hacker attacks, including the attack on JPMorgan Chase. And the list of such cases is rather long.
 

Chinese cryptocurrency exchanges are under pressure

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China is one of the first who declared war on those who use digital currencies for illegal purposes. By the way, China punishes frauds really seriously – life-term imprisonment or even death sentence. Probably, that’s one of the reasons why all of the local cryptocurrency exchanges are willing to cooperate with the People’s Bank of China behind the closed doors, especially as the Chinese government changed their attitude towards digital currencies earlier this year.
It’s should be noted that the People’s Bank of China started an investigation against Chinese cryptocurrency exchanges to check them for involvement in money laundering. As a result, they had to quit using leverage and introduced transaction fees. Apparently, those changes affected the local segment of the cryptocurrency market. The transaction volume dropped considerably while the central bank promised to go on with their investigation.
 

 

Bitcoins for Petya and scams

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When it comes to scams, we cannot but recollect the virus called Petya. This was a devastating virus attacking major corporations, networks, and even smaller firms worldwide, including, Spain , the UK, India, Belarus, Norway etc. However, Russia and Ukraine suffered most of all.
 
The hackers demanded $300 in Bitcoins to get the information unblocked. And many of the victims agreed to pay. Over the first day of hacker attacks, the victims paid over $5500. Yet, this is not the first case of successful blackmailing related to cryptocurrencies.
 
Another case has to do with Freewallet, which is a service designed to store various cryptocurrencies like Bitcoin, Ethereum etc. A lot of Freewallet users complained that someone had stolen their money. Ethereum Blockchain analytic insruments showed that someone had really stolen 21000 Ethereum coins, which was equal to 8 million dollars back then. The thief had chosen the victims randomly.
 
Since Freewallet developers still haven’t commented on the matter, the victims are afraid that Freewallet is a scam itself.
 

 

Investors’ thoughts on the risks of investing in cryptocurrencies

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It’s interesting to note that all of those facts still haven’t made some investors change their attitude to digital currencies in general. They still think that investing in cryptocurrencies is safe and the blockchain technology is the future of global finances and investing.
 
For example, some of them think that using cryptocurrencies as payment means is just the first step in the process of abolishing taxes through inflation. The next step is creating an alternative blockchain-based investment ecosystem. This decentralized financial system will be designed to back security for all assets, including, stocks, bonds, options etc. thanks to cryptography tools, investment assets can be emitted by anyone without the necessity to trust third-party issuers. Everything is going to be done through mining, the way it’s done today with Bitcoin. The question is, will this innovative protocol secure the users against hackers, who are getting increasingly interested in the decentralized and unregulated cryptocurrency environment?

 

 

 

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Bitcoin Nears $8000

Bitcoin closed the past trading week with an attempt to test the next major level – 8000 USD/BTC. In particular, the world’s first and biggest cryptocurrency has come close to the threshold on November 17th by setting a new all-time high at 7997,17 USD/BTC. However, this was a short-term attempt and the price retraced a bit shortly after setting the record.

Publication date: 19 November 09:18 AM

Masterforex-V Expo Names Best Forex Brokers for Beginners in November 2017

Sooner or later, each and every forex trader out there faces the same challenge – choosing the right forex broker. Their future performance will depend on that choice. The thing is, forex brokers may differ in a number of aspects, including the trading conditions they offer their clients.


Publication date: 06 November 04:26 AM

Bitcoin: Long-Term Prospects

Market participants, including traders, investors and regulators, have been watching cryptocurrencies getting more and more popular over the last few years. Some experts say that central banks will start regulating digital currencies at some point in the near future.

Publication date: 30 October 07:48 AM

Bitcoin Gold Crashes on the First Trading Day

 Yesterday, on October 25th, Bitcoin Gold became available for public trading. However, the first trading day turned out to be a nightmare for the founders. BTG crashed by roughly 70% over the first trading hours. According to Coinmarketcap, shortly before the launch, the exchange rate was 480 USD/BTG, but a few hours later it crashed all the way down to 157 USD/BTG.

Publication date: 26 October 12:59 AM

Bitcoin Has Got a Younger Brother – Bitcoin Gold

In October, the list of cryptocurrencies got longer thanks to a new digital currency. Bitcoin developers announced Bitcoin Gold (BTG), and they promise that mining it will be much easier than mining the conventional version of Bitcoin. So, Bitcoin is going to get another younger brother in the coming days. Actually, the corresponding fork (separating Bitcoin chains in the blockchain) was scheduled for October 26th. If everything goes right, BTG may reach the same success that Bitcoin Cash got not so long ago. For those of you who don’t know, Bitcoin Cash also came into existence as the result of forking in August 2017. Later on it became the world’s 4th biggest cryptocurrency in terms of market capitalization.

Publication date: 26 October 12:00 AM

Duckascopy Offers Most Favorable Trading Conditions to Forex Traders

Profitable forex trading has become something usual for thousands of people all over the world. Having decided to change their lives for the better one day, they started valuing the active lifestyle of daily trading while listening to those market signals. Keeping in mind all the risks and potential benefits of trading forex, they dared take their first step.

Publication date: 19 October 10:36 AM

Bitcoin Sets Another All-Time High

Bitcoin has completely recovered from September’s downtrend and is now moving higher. Moreover, the world’s first and most popular cryptocurrency has just set a new all-time high, Market Leader reports.

Publication date: 14 October 03:28 AM

Billionaire Cuban Calls Cryptocurrencies and Blockchain the Future of Financial Markets

American billionaire Mark Cuban thinks that cryptocurrencies and the blockchain technology is the future. He shared his opinion with the public during his interview with Bloomberg. He talked about Bitcoin and the development prospects for the entire industry of digital currencies.

Publication date: 10 October 10:10 PM

Miners Start Panicking as Some Cryptocurrencies Start Going Down in Value

Bitcoin is making everyone nervous again. Bitcoin miners start panicking, and the panic is driven by the news that Bitcoin Cash and some other cryptocurrencies are crashing again, Market Leader reports.

Publication date: 08 October 01:34 PM

Bitcoin Exchange Rate Retraces Before Another Rally, Expert Says

These days, new financial assets are being added to the list of forex assets. Those are highly volatile assets like cryptocurrencies, for example. Cryptocurrencies have been getting increasingly popular with international forex traders. This holds especially true for Bitcoin, which is the world’s first and most popular digital currency.

Publication date: 08 October 05:40 AM