Business News

Thu Feb 10

How to Choose a Bitcoin Trading Platform: A Comprehensive Guide

Written by NewsServices.com

Bitcoin trading platforms have been in the news a lot recently. The cryptocurrency’s volatility and sky-high prices have attracted many new investors, many of whom are actively looking for the best bitcoin trading platform to meet their needs. Unfortunately, because there is no “standard” bitcoin trading platform, making comparisons between different exchanges can be difficult.

This article will look at what you should consider when choosing a bitcoin exchange or online marketplace.

Let's take a look at these factors.

KYC on Crypto Exchanges

Know your customer (KYC) is an anti-money laundering (AML) regulation requiring a cryptocurrency exchange to know their customers. While most of the world embraces cryptos, the United States still forbids anonymous crypto trading.

They require traders to give up their name/address/social security information to be regulated and taxed by the IRS. Bitcoin Code is among the leading exchange platforms you must choose for trading bitcoin.

Currency and Mode of Payment Accepted on Crypto Exchange

Bitcoin is an online currency and payment system introduced in 2009, and it has since then increased in value exponentially. According to investment bank Goldman Sachs, the price of bitcoin could rise as high as $3,900.

While this new form of digital cash is becoming more popular daily, some are looking for international companies to accept traditional forms of payment for their products or services.

Trading Features on Bitcoin Exchange

When it comes to trading features and what you can do with your bitcoins in various functions such as placing stop-loss or taking profit orders. Most traditional bitcoin exchanges such as Coinbase will not offer advanced trading options such as margin trading, leveraging one's balance for increased profits.

This can be confusing for new investors who might want to start small and buy and sell their coins without having to worry about getting the best bang for their buck when it comes to services and fees. If an exchange offers advanced trading options such as margin trading, this indicates that the company is more experienced and might even be regulated.

Financial Services Offered by Crypto Exchanges

One of the reasons cryptocurrencies became so popular is because they allow for quick and anonymous (or as close as you can get to it as part of a decentralized system) transactions. Most exchanges provide trade services, which means that you do not directly own the coins you're trading; instead, they are stored by the exchange itself on your behalf.

Bear this in mind before depositing large sums into exchanges - if the exchange gets hacked, you'll most likely lose all of that money.

The Bottom Line

You should always be aware of your primary concerns before selecting a bitcoin trading platform. If you're mainly concerned with security, go with a long-standing and reputable company that uses cold storage and doesn't use an offsite hot wallet.

If mobile access is more important to you, make sure the platform offers it. Also, consider things like customer service availability and if there's enough liquidity to suit your needs.

Thu Feb 10

The Top Five Companies That Accept Bitcoin

Written by NewsServices.com

Bitcoin is a digital currency increasing in popularity over the past few years. Many people wonder if it is possible to use Bitcoin to purchase items online, and the answer is yes. Many companies accept Bitcoin as payment for products and services. This blog post will discuss the top five companies that accept Bitcoin.

Let's take a look at these companies.

Microsoft

Microsoft's main goal is to provide computer software and services that will advance the productivity of other businesses. In addition, they are interested in investing in internet technology companies that could become significant to Microsoft's line of business in the future. They are also one of the world's most valuable companies, with a market cap of $314 billion. Finally, they're partnered with BitPay to allow bitcoin purchases through certain accounts.

Their reasoning behind this partnership was their belief that people should pay for things online without knowing how it works or worrying about security issues. As a beginner, my suggestion for you would be to trade on the best exchange platform, Bitcoin Up.

Starbucks

There has been a lot of talk about people using Bitcoin to buy coffee at Starbucks; however, you can't do that yet. Or can you? A few months ago, Starbucks announced its interest in blockchain technology and the possibility of accepting digital currencies in the future. One cryptocurrency, PotCoin, even went so far as to create a 'promotional' coin where every purchase of their coin with Bitcoin gets you 50% off your coffee at Starbucks.

Paypal

"The reason behind PayPal's success is its ease of use. People don't want to jump through hoops in order to send and receive money," says Hill Ferguson, PayPal's chief product officer. "We've removed a lot of the friction involved in receiving or sending payments. In the same way, paying with Bitcoin is a simple and elegant experience that doesn't require a lot of advanced planning or anxiety. It's the early stages for Bitcoin, but we don't expect it to go away."

Overstock

Overstock is the first major retailer to accept bitcoin, and they have paid $124k in bitcoins so far. They started accepting bitcoins on January 9th 2014, and their stock even went up by about 10% once they announced that they would be accepting bitcoin as a payment method.

Dell

Dell is one of the largest computer companies to start accepting bitcoins as a form of payment. You can purchase everything from laptops to servers using your bitcoins at Dell.com. Their post announcing their acceptance of Bitcoin said this about their decision to take bitcoin, "Bitcoin offers customers another new way to purchase products at Dell.com, through our affiliated seller Coinbase". The company has only processed transactions worth roughly $50,000worth of bitcoins.

The Bottom Line

Bitcoin has been a powerful tool for investors and has created a multibillion-dollar industry. The popularity of cryptocurrency has made it difficult to use without understanding how it works. While many big-name companies offer limited support for Bitcoin, others accept cryptocurrencies as a means of payment from their customers.