Author Archives: Satoshi

HolyTransaction supports GAME Token Swap

Game Credits Token Swap

GAME has been upgraded from a Proof-of-Work blockchain to an ERC20 Ethereum token.

Game Credits users will retain the balance of their GAME addresses, which have been migrated to an Ethereum ERC20 token with the GAME ticker symbol. Balance totals for HolyTransaction GAME users will reflect the same GAME total that they had prior to the GAME Token Swap.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi

95% of Cryptocurrency Volumes is Fake

If you have been trading on a cryptocurrency exchange, you might have noticed how these platforms work. Buyers and sellers come together to exchange their favourite coins, in hopes of making a profit. The total volume of those transactions determines the popularity of an exchange, as well as the liquidity of cryptocurrencies.

For the longest time, the public used reported daily volumes of exchanges to determine the quality of an exchange and, as an extension of that, the best option to exchange cryptos quickly.

However, one strange thing started to happen as cryptocurrencies became more popular. The exchanges with the highest volumes were relatively unheard of and, in some cases, completely unknown.

This confused many market participants. How can an exchange with only 2000 Facebook fans and a quiet Telegram group have 3x more volume than Bitfinex?

And how can those same exchanges not create any liquidity for new coins, even though they report such massive numbers?

Long and behold, Bitwise launched an investigation to explore the causes of this issue. A short while later, in a 104-pager, they shared their findings with the world.

Most reported volumes are fake

According to the research performed, many cryptocurrency exchanges were artificially inflating their reported volumes. In fact, the numbers were so highly inflated that it is assumed that about 95% of the total volume is actually non-existent.

Why does this happen? Well, according to the same paper, it happens in order to increase the exchanges’ market position and make more profit on new coin listings. This, of course, makes it hard for new market participants to trust exchanges.

The logical thing to do then, is find platforms that you can actually trust. Exchanges that report real volumes, coherent with the activity of their users.

Paybis has created a helpful infographic to help you understand which platforms you can actually trust. Check the following infographic to better understand the findings of Bitwise.

fake-volume-infographic

As you may have imagined, the news was unpleasant for most crypto-enthusiasts. In fact, the community demanded answers from CoinMarketCap. The company that got recently acquired by Binance tackled this issue by introducing a Liquidity metric. Based on this, users are better able to distinguish between honest and “scammy” exchange platforms.

After its acquisition by Binance, the Reported Volumes metric also got a pleasant refresh. Volumes now look a lot more realistic and in line with the actual volumes being made on a daily basis.

Where do we go from here?

Cryptocurrencies, as a market, are still in their infancy. Thankfully, as the space keeps improving, so do the metrics of data collection. As such, it is expected the following year will completely eliminate irrelevant platforms that offer now value to the space.

Moreover, many new FIAT on-ramps for different countries are appearing on the market. We expect that this effort will continue and, eventually, increase the standard of requirements for the proper operation of exchange platforms.

By all means, the cryptocurrency space looks massively different than what it did two years ago. And with companies like Bitwise analyzing the market and helping its growth, we are more than confident about the next 2-5 years.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi

9 Reasons Cryptocurrencies Are So Important

classification-of-cryptocurrencies-is-an-important-issue

Image courtesy of GammaLaw

Digital currencies have created a buzz since the sudden rise of the Bitcoin price. They have, over time, become a new trend in the global money market due to their incredible benefits. Here are some of the aspects that tend to make cryptocurrencies so important.

Safety

Bitcoin and Litecoin are arguably the most trusted and safest digital currencies in the world. In a world where looters and cons are everywhere, virtually everyone wants to trade safely. Cryptocurrencies give online traders that assurance, and that’s why people consider them as a reliable means of exchange.

Policies

The recent increase in the demand for Litecoin and Bitcoin can be attributed to policies that govern cryptocurrency networks. Cryptocurrencies are a digital currency, which means traders rarely need a third-party to complete a transaction. That often gives online traders a sense of security and reassurance. Cryptocurrencies tend to allow online retailers to transact anytime and anywhere.

Cost

Bitcoin and Litecoin are considered a low-cost means of transaction. The cost of transacting with cryptocurrencies can be far less than other currencies. The fact that the cryptocurrency network is responsible for compensating miners tends to eliminate transaction fees. Low-cost transactions could mean that cryptocurrency users won’t shell out money in exchange for Bitcoin and Litecoin. All a cryptocurrency user may need to transact is knowledge of cryptocurrencies and a smart phone.

Storage

Cryptocurrencies can be stored in a safe e-wallet or USB drive. Storing your bitcoin or Litecoin in either an e-wallet or USB drive may not attract any fee.

Privacy

Privacy has been a concern for most people transacting over the internet. Cryptocurrency users can expect their financial transactions to be highly confidential. You can transact using bitcoin and still be anonymous. With digital currencies, the seller and buyer don’t transfer money directly. Instead, the cryptocurrency network often serves as an intermediary, which means that users may not share their credentials with anyone. Cryptocurrencies can be used as a new measure to curb identity theft, which has become a menace in the global money market. If something seems doubtful, you are at liberty to share any information you may want with your merchant. By accepting payment in digital currencies, online traders tend to accept and welcome clients who would wish to remain anonymous. Accepting payments in bitcoin can make a brand an industry leader and increase its awareness.

Investment

Cryptocurrencies can be bought in a fraction. That means you can invest any amount of money in cryptocurrencies. For example, if you can’t afford a full unit of bitcoin, you can split it and invest in a quarter or half of it. That can help reduce the cost of investing in cryptocurrencies and avoid overspending. With a crypto converter, an investor can find out the price of any digital currency in their country.

Autonomous

Using digital currencies can make you autonomous. Cryptocurrencies tend to eliminate third-parties, so you can be sure that no fees or commissions are involved. These currencies can also allow online traders to manage their accounts.

Decentralization

Decentralization is a feature that often makes cryptocurrencies lucrative for merchants and customers alike. It means that digital currencies can’t be subservient to any authority or agency. No one owns digital currencies, which means no individual can have control over it. Digital currencies can provide online retailers with the freedom to transact without worrying about geographical barriers.

Digital currencies are considered a game-changer in the global money market. Their incredible benefits are arguably the reason behind their recent popularity. Cryptocurrencies are considered the safest and most trusted currencies around the world. You can store Bitcoin and Litecoin in the cloud or USB drive and move with them anywhere around the world. By using bitcoin, online traders can expect their transactions to be confidential. Digital currencies are also a reliable medium of exchange that can give sellers and buyers control over their accounts. The fact that Bitcoin and Litecoin can be bought in a fraction can make digital currencies an affordable investment.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi

Has The Crypto Market Bottomed After Bitcoin’s 50% Collapse?

The second half of 2019 was really difficult for Bitcoin. According to independent experts, the total volume of public digital assets has decreased by more than 50% – from $388 billion to $166 billion. However, there is other evidence. Yes, the cryptocurrency market really fell to the bottom if you look at these statistics, but let’s not forget that market conditions are dynamic. And the factor that means failure today may well mean success tomorrow.

Another Side of the Coin

There were periods of stabilization of the exchange rate, but for a long time cryptocurrency lost much in price. At one time, panic even started on the market, and Bitcoin was predicted to soon fall to zero. Against this background, the results of the year sounded quite unexpectedly: cryptocurrency turned out to be the most profitable investment. The coin rate rose from $4035 to $ 7344, providing investment growth by 82%.
bitcoin-transaction-volume-growth-2020

Crypto Market and Bitcoin in Modern Political and Economic Conditions – What to Expect in 2020?

This year will be great for Bitcoin, Wall Street analyst and Fundstrat founder Tom Lee suggested. The destabilization of relations between Iran and the United States is one of the reasons.

Plus, modern realities make it possible to add a supposedly modern coronavirus epidemic to these factors. However, at the moment there is no consensus among experts on how the coronavirus will affect the Bitcoin exchange rate. It is still unclear whether we are dealing with a real threat to people’s lives or is this another hype, a political company, or an attempt to distract investors from other, more important issues.

However, even those experts who believe that the disease can affect the main digital coin explain that this will happen only if the outbreak develops into a full-fledged epidemic.

Venture capitalist Tim Draper is also confident in the long-term growth in Bitcoin value. In an interview with FOX Business, he advised millennials to invest in cryptocurrencies, as they are on the verge of a new financial revolution. However, the explosion of the financial revolution will slow down due to the influence of the values ​​of older generations and the obsolescence of the current banking system.

Conclusion

Bitcoin exchange rates are very unstable. Cryptocurrencies have already shown that it can rapidly fall and take off at a breakneck pace. Due to this state of affairs, bitcoin does not inspire confidence among many investors who would be happy to invest big money in the development of the blockchain, but fear for their savings. In 2020, we are unlikely to have to observe the strong influence of this factor, but we should not forget about it.

About the author: Gregory is passionate about researching new technologies in both mobile, web and WordPress. Also, he works on Best Writers Online the best writing services reviews. Gregory in love with stories and facts, so Gregory always tries to get the best of both worlds.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi

Universal Cryptocurrency Wallet HolyTransaction Adds Digibyte to Its Crypto Collection

DigiByte Logo

Once again, we recently listed Digibyte and expanded our collection.

In case you are searching for a reliable and easy to use digital wallet, then HolyTransaction Cryptocurrency Wallet is perfect for you. A digital wallet is ideal for cryptocurrency traders who are looking to store, trade, and send, as well as access their cryptocurrencies through a single account. This way users can easily convert the supported cryptocurrencies without having to transfer their coins to other exchanges.

HolyTransaction Wallet for DGB

As a HolyTransaction customer, you can create a new address for DGB (Digibyte) and use the HolyTransaction Web Wallet to send as well as receive coins. You can also use the wallet to convert them into any other cryptocurrency conveniently. Thus, HolyTransaction users can send cryptocurrency, receive transactions, as well as exchange DGB with other supported cryptocurrencies, with Digibyte being one of the latest coins to be included.

What is Digibyte (DGB)?

Digibyte is a rapidly-growing, public, decentralized blockchain project, which features a cryptocurrency of the same name. The project has been around for a long time, with some of the fastest transaction speeds in the industry composed by an active development team which has been consistently working on it for over 5 years.

Digibyte has also always been transparent, with its team and founder never hiding their identities. DGB can be obtained through mining, purchased on HolyTransaction, or received as payment. In addition to that, the Digibyte team has been making an effort to reach out to merchants without waiting for them to come to cryptos, in an attempt to provide more options to its users as possible.

DigiByte has been active for over 5 years now with a market cap of $69.8 million, which makes it at least as old as Ethereum while DGB itself ranks as the 70th-largest crypto.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi

Basic terminology for beginners in regards to Bitcoin trading

For those interested in digital currencies, It has changed the way we do business and the way investors invest in a company. Employers are offering crypto as pay and others, such as music artists, are accepting them in exchange for singles. The attention crypto has attracted made it popular among many. One the biggest reason why many are attracted to crypto is that many of them sit on a decentralised network. This means an organisation or a government does not control them, unlike Fiat currency. Ther is also no physical form of cryptocurrency, but it can be converted into the more familiar notes and coins we know and love.

three round silver and gold colored cryptocurrencies

The introduction of Bitcoin brought with it new technology such a blockchain. The nature of blockchain makes it a secure way of working, and we will go into more detail about it below. It is essential to mention, however, that not all countries share standard consensus o what crypto is. Some view Bitcoin as exchange tokens. Others view crypto in the same light as hard cash. These anomalies in the crypto world mean taxes for Bitcoin differ from country to country which why before investing, purchasing or dealing with crypto, it would be wise to find out the countries views on it. 

A big part of making an investment in Bitcoin and other cryptocurrencies and being successful at it means learning the lingo. Here are some of the underlying crypto trading terms that are commonly used. Knowing these terms will help you navigate your way through the world of crypto in ease. 

Blockchain

Blockchain is a decentralised and distributed public ledger which means it is a database that is validated by a vast community of people rather than a central authority. In most cases, blockchain refers to the bitcoin blockchain, which is made up of blocks. It allows data to be stored globally on thousands of servers and lets individuals enter the networks to see all the entries in real-time. By doing this, it makes it hard for users to gain control of the system. The immense reach of blockchain makes it harder to hack as all transactions are transparent for all to see. Falsifying a single record in the chain means you would need to forge the entire chain. Bitcoin transactions sit on a blockchain. 

Wallet

A wallet is a secure digital wallet that is used to store, send and receive digital currency like bitcoin. It is typically a string of numbers and letters. Many official coins like bitcoin have official wallets, but you can find wallets which hold different types of currencies in one place. 

To use a crypto wallet users will usually be given an ID as a way to identify the wallet along with its own private key which will help to authenticate and prove possession of the wallet by the person who owns it. 

Private Key

To carry out a transaction with digital currency, you will need two things. The first is a wallet which acts as your address and a private key. The private key is a string of random numbers, but unlike address, the private key must be kept secret. The private key gives users authority to digitally sign and authorise different actions that are done by the digital identity when used with the public key.

The main priority when dealing with cryptocurrencies is to keep the private key secure. It the key gets lost or stolen; there is no means to recover it.

Order Book

The order book displays current prices with volumes in real-time of current order from buyers and sellers.

Bid Price

The price at which a person is trying to sell an asset is known as the Bid Price.

Ask Price

The ask price is the price individuals are trying to buy an asset for.

Bull Market

A period during which asset prices consistently keep rising is known as a Bull Market. To get the most out of investments, users are likely to enter the market at the beginning or just before the start of a Bull market. This is so the assets they buy become more valuable.

Bear Market

In the flip side to the Bull market, a bear market is a period during which the prices of assets consistently fall. The silver lining to this si that the drop in prices means that entering the market becomes cheaper, and it becomes possible to buy the same amount of assets for a lower price. Generally, Bear markets are not specific to cryptocurrencies, and any tradeable asset can go through the same life cycle.

Spread

Spread is referred to as the price difference between the buy price and the sell price of an asset. The exchange between the individuals defines them.

Buy order

When an individual wants to purchase an asset at a designated price, buy order or bids are created. When an individual wants to sell an asset at a selected amount, sell orders, or asks are created.

High and Low

In a 24-hour trading cycle, high means the peak price Bitcoin or other assets have reached in 24 hours. And so low means the lowest price the particular assets has become in the 24-hour trading cycle.

Slippage

The difference between the price a trader expects and the trade to execute at, and the price it eventually executes at known as Slippage.

Execution

The official completion of a trading process is known as Execution.

Cold storage

Storing digital money in an offline wallet is known as cold storage and usually stored on a platform that has no connection to the internet. There are many Blockchain smartphones which now have cold storage capabilities.

Satoshi

Satoshi, named after the creator of Bitcoin, is the smallest unit of Bitcoin (BTC) recorded on the blockchain.

Confirmation 

The act of a transaction which is included in a single block within the Bitcoin blockchain is known as confirmation.

Digital signature

Like a fingerprint, a digital signature is an e-signature which is created by using the Publick Key Cryptography (PKC). The digital signature associates securely, a signatory with a document in a recorded transaction. Every transaction has a different digital signature that depends on the users private key.

Transaction Fee

Each Bitcoin transaction incurs a fee. It is processed by a miner who is paid for their services, and the Bitcoin network confirms the results.

Author: Yasmita Kumar

A little bit about me: I am a writer and have been writing about various topics over many years now. I enjoy writing about my hobbies which include technology and its impact on our everyday life. Professionally I write about Technology, Health and Fashion and previously worked for the NHS.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi

5 Reasons Why Cryptocurrencies Should Be Taught For Students

Crypto Student

Cryptocurrency has been impacting lives, no doubt, and Bitcoin has now become quite popular among the youth and even the adults, making smart investors extremely rich.

 Cryptocurrency has been in existence for more than 10 years now. There is hardly a developed country, a civilized geographical location, or an economy of significance around the world still ignorant of the word “cryptocurrency.”

The fact is that even if one does not know what cryptocurrency is all about. Then definitely, you have heard about it from the news, colleagues, neighbors, friends, internet, newspapers, handouts, and souvenirs, and so on.

Bitcoin is taking the lead as the most popular and the most utilized cryptocurrency with billions of dollars of transactions being carried out with it daily. Now, this begs the question, why is cryptocurrency still not taught to students?

Schools are institutions for educating people. Thus, it is of great importance and a matter of necessity that courses or subjects related to cryptocurrency be taught in school systems. This initiative will serve as a means of equipping our young generations for the future to come since cryptocurrency symbolizes a new viewpoint on finance and, primarily, the economy.

In lieu of these, it is worthy of mention that schools should also consider teaching online academic translation services as provided by The Word Point. Nowadays, such skills are essential in virtually all spheres of life.

Why not read on as you discover the five(5) essential reasons why cryptocurrency should be taught to students.

#1 Changes in Valuation Overtime

The knowledge of cryptocurrencies have increased in the general population of the world and have undertaken a new shape over time. According to BitcoinWiki, in 2009, there was no cryptocurrency exchange; the users at that time were majorly cryptography fans who transferred bitcoin mainly as a hobby. 

In 2010, a user, known as “Smoke too much,” auctioned 10,000 BTC for $50 without any buyer. Lazlo Hanyecs was also reported to have successfully bought two pizzas at Jacksonville, Florida, on the 22nd of May, 2010. This was the first recorded successful bitcoin transaction. On the 26th of June, 2019, Bitcoin hit $13000, which notable experts attributed to the development of the cryptocurrencies technology industry. This is to enlighten you concerning the history of the significant changes of Bitcoin as a major cryptocurrency. To open your minds to a new life-changing experience, and for you to reason and agree with me as per why cryptocurrency should be taught to students.

#2 Promising Career Opportunities

Taking into consideration, the rate at which cryptocurrency is growing concerning its wide acceptance, thousands of career opportunities are bound to manifest within the years to come.

Concerning a report by Coinbase, it was brought to public knowledge that the population of students from various departments who have become interested in cryptocurrency is growing so fast.

Some companies today are on the lookout for job-seeking graduates who are progressive-minded and are interested in fast-growing technologies. Likely, most of these employers are not well-grounded in the knowledge of cryptocurrency themselves. Hence, they need workers who are capable of bringing this knowledge to an organization.

In the world of crypto, Many opportunities abound, and the possibilities are limitless. Cryptocurrency and digital currency go hand in hand, such that a wide range of opportunities are opened for young scholars. The lists of potential careers for cryptocurrency lovers are virtually enormous. 

Here are some few potential career opportunities you should look forward to:

  • Cryptocurrency developers and miners
  • Cryptocurrency traders
  • Cryptocurrency analysts
  • Cryptocurrency-based software engineer
  • Cryptocurrency developers, and so on.

#3 Encompassing all Industries

According to the SI News blog, Cryptocurrencies have been forecasted to be utilized extensively in industries like Agriculture. Going by this report, it becomes evident that cryptocurrency technology is here to revolutionize the way we run our businesses.

In current times, workers are highly required by employers to collaborate and work across different departments. Several Interdisciplinary research is also growing in popularity in various universities in most developed countries. 

For instance, the University of California-Berkeley started delivering a cryptocurrency class called “Blockchain, Crypto economics, and the Future of Technology, Business and Law” which has become quite popular among students.

#4 It is a Great Investment Opportunity

Investment in cryptocurrency is highly encouraged for every business person or investor looking to make it big within a short period. It is indeed an excellent Investment platform given the astronomic rise in bitcoin rate in the year 2007 when it rose to its highest-ever to about $20,000, by which investors made a whole lot of money as a result of their investment. 

Even though some investors or individuals will argue that Bitcoin is highly volatile and full of risk, the same principles that apply to businesses and investment opportunities are still applicable to an investment in cryptocurrency.

#5 The Impacts of Cryptocurrency are Enormous

Following the growing trend of cryptocurrency, the impacts are becoming greater and more significant over time. This further stresses the reason why the course should be taught to students. Students need to be prepared for the crypto revolution to come.

Jake Gardner, a crypto analyst once said that “the impact of cryptocurrency is omnipotent considering the huge amount of benefits attached to it”. He also gave some notable advantages of cryptocurrency, which includes:

  • It reduces the cost of health-care services.
  • It guarantees a secured record-keeping.
  • It produces an extensive adoption of cryptocurrency technologies in the next 2-3 years.
  • It helps to reduce the cost of operations as well as minimizes the cost incurred from cross-border payments and many more.

Final Thoughts

There is a strong need for cryptocurrency classes to be held in various schools, and it should not be handled with levity. Students should be well equipped and fortified with the knowledge of cryptocurrency to be economically relevant towards its full implementation in a few years to come. Given the reasons above, should cryptocurrency be taught in schools or not? I leave you with this question to ponder on.

About the author: Frank Hamilton is a blogger and translator from Manchester. He is a professional writing expert in such topics as blogging, digital marketing and self-education. He also loves traveling and speaks Spanish, French, German and English.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi

20 surprising things you can buy with Bitcoin

BTCPlayMania prepared this infographic which highlights twenty ways to spend bitcoins you might have not known about.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi

HolyTransaction supports Multi-Collateral DAI

DAI users will retain the balance of their DAI addresses, which will be migrated to a new multi-collateral contract with the DAI ticker symbol. Balance totals for HolyTransaction DAI users will reflect the same DAI total that they had prior to the contract swap.

DAI has been upgraded from a single-collateral token to a Multi-Collateral DAI token.

SAI (single-collateral token) will no longer be supported or traded on HolyTransaction.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi

Update for Customers With Tether Stored on HolyTransaction

Please note that we have migrated your Tether balance to USDT on Ethereum (ERC20). Thank you for your continued support for HolyTransaction. If there are any doubts or questions, please don’t hesitate to contact us.

Stay tuned!

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Satoshi