The emergence of Bitcoin (BTC) in 2009 as the first cryptocurrency and a payment solution initially came with mixed feelings among financial and economic experts. However, the success and acceptance of Bitcoin have led to the emergence and development of new crypto projects, such as Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Ripple's XRP, Monero, and more.
A critical aspect of this digital currency is its storage, usage, and acceptability. Crypto assets have been seen as the currency of the future. Hence, the extent of its influence and relevance in the world economy remains unknown. Crypto assets are the best alternative to the conventional and traditional [...]
A cryptocurrency is a form of money whose value overshoots the value of many traditional forms of currency. Cryptocurrencies invention dates back to 2008 when Bitcoin, the first Cryptocurrency, was created by a person named Satoshi Nakamoto.
Bitcoin (the first Cryptocurrency) was almost entirely worthless at the time of its creation; in-fact, someone referred to in the crypto trading world as “the pizza guy” traded ten thousand units of Bitcoin for Pizza at that time. Like most people, the Pizza guy wasn’t stupid enough to recognize the value of the currency and trade it off at that time; he was short-sighted about the future holdings of [...]
Currently, there are over 5000 altcoins in the crypto market, and they accounted for more than 34% market capitalization of the crypto market in February 2020. Altcoins compete for market dominance and create fierce competition in the market. Some of them like Ether, Litecoin and Ripple have, over the years, increased in popularity and value.
However, the value of a coin is hinged to many factors (e.g. price trends and fundamental analysis). While other factors may be inconsistent sometimes, one always remains consistent: Bitcoin. No matter the potential of a coin, its value must be impacted by the current price movement of Bitcoin.
We saw this happen with [...]
I try to use crypto often when paying stuff online. I found some great online shops where you can pay with crypto, and I like doing it to support the idea as a whole. Recently, however, I was checking the conversion prices against the Bithumb price and became a bit surprised. The retailer added a substantial premium for paying with Bitcoin. I found it weird, the payment provider advertised low fees. Was it retailer adding a premium to the price? I had to look deeper.