The global pandemic has plunged the world into uncertain times, especially in all regimes’ economic avenues. The economy has suffered, but cryptocurrencies have come out better than before with investor confidence high and a surge in valuations expected. There has even been a forecast of a bull run in the likes of the one in 2017, which had made the whole world mad about Bitcoin. The most noteworthy thing though is the slowly growing tie-up between cryptocurrencies and conventional financial resources. This means that those who previously were unwilling to deal with bitcoins due to its exclusivity now may find it appealing with greater accessibility about fiat and other asset forms.
Advice from Industry Experts:
Two pro-traders revered in the crypto community for their wisdom regarding digital assets will be conducting a lively new session on their weekly video channel on the relationship of Bitcoin with other forms of assets and how to handle them the transition. The video will be interactive, where watchers can ask any queries they deem necessary and find the answers they are looking for life as the video ensues.
Discussion Points:
The video will cover Bitcoin’s basics, such as its glorious history and the mysterious origins of the anonymous Satoshi Nakamoto. The recently predicted Bull Run and the necessary precaution it will require will also be discussed with emphasis on trading with caution and paying heed to advise from conservative experts instead of the running head-long as everyone did back in 2017. But as promised, the main topic would be about the burgeoning popularity of Bitcoin among the common masses and what its recently developing association with traditional forms of assets will mean for the finance world.
The world has been catapulted into chaos, and Bitcoin seems to be the only thing that has come out of it thriving. This is in the character of its volatile nature, and investors seem greedy to jump into its fertile waters. While the market does seem to be burgeoning with brighter horizons up ahead, one must remain cautious and refrain from investing all of their life’s earnings into its tumultuous tides. This is a fun new trading opportunity where one should only focus on learning the patterns and trading with the money that they have to spare. Please do not go into it as a last-ditch effort to solve your financial problems but rather as a side hobby with a potential benefit of maybe making you rich.
This piece elucidates facts about the report that says that the servers of 2gether were under attack by some anonymous hackers who also robbed more than 1.39 million USD from accounts of cryptocurrency investments.
The Theft
2gether is a European crypto trading organization. It was very unfortunate for them to face a massive problem as it became the target for a bunch of hackers. They stole over more than 1.183 million Euros which is equivalent to 1.36 million USD. The CEO of 2gether named Ramon Ferraz Estrada revealed this terrible news through a Twitter post series.
He also mentioned in his posts that the Euro wallets and accounts are still completely safe. To cope up with the major loss, the company came up with the offer to its clients to sell its classic 2GT token with the cost of 5 cents (each) only. The team of 2gether also made a decision to grant an extra fund for covering any further losses they might have faced through this event.
More Details on this Occurring
This particular crypto trading institution made some other statements to the public. The team stated that the application software of 2gether will get rebuilt once again as quickly as possible along with the availability of all security facilities. The customers will get a new benefit of asking about any sort of problem they might face with this application through an Ask Me Anything or AMA session that will be organized on Reddit.
Similar Incident with Cashaa
Cashaa, a United Kingdom-based cryptocurrency trading company, made a report that a little more than 336 bitcoins were stolen by a bunch of hackers just like the event happened with 2gether. Both the happenings were very much similar to each other and causing a heavy suspicion that they might be connected together.
Right after this awful incident happened with Cashaa, it stopped all the transactions linked with cryptocurrencies. With this sudden cease, the clients did not go through any issues to be specific as per the reports say.
The Whale Alert Twitter Update
On the 27th and 28th of July, Whale Alert posted a Twitter series that signified that wallet addresses linked with the current hack of Bitfinex exchange moved 3503 Bitcoins that have approximately held a value of 38.7 million USD, more than 12 transactions.
Obtaining Bitcoin is not as simple as purchasing fiat currency. There are several things you need to know to secure such a purchase. The first thing you need to know becomes where to store the Bitcoin you buy. Since it is a digital currency, you need a digital storage area, known as a wallet in the cryptocurrency world. The wallet essentially stores private keys you use to access your funds when you need to spend them. The keys are like your ATM card pin, without which you cannot access your money.
You can then go ahead to buy your digital currency once you have your wallet in place. There are currently six secure places where you can purchase Bitcoin.
ATM
Automated teller machines designated for Bitcoin dispensing are a completely new concept. They offer the most private purchasing experience and will quickly gain ground across the world. You get charged a 3-8 percent commission on your purchase above standard exchange price. And all you have to do is feed the machine funds then scan your wallet’s QR code to get the digital currency deposited. You can optionally get the systems in paper form with directions on how to collect the BTC. These ATMs can never get found in countries that have outlawed Bitcoin or digital currencies.
Gift Cards
Gift cards often get purchased by Bitcoin, and the reverse is also true. You can buy Bitcoin using gift cards as several Bitcoin exchanges have sellers who deal in this particular exchange type. You purchase a gift card from a retail store and log into a Bitcoin exchange service. You may need to send an image of the gift card’s code plus the receipt of purchase or send an e-code. The difference depends on the seller with whom you connect. Gift cards tend to save you money as you can purchase them at even 60 percent of their actual value, making them one of the most affordable ways to buy Bitcoin.
Exchanges
Exchanges offer the most open platform for traders to purchase cryptocurrency. They get regulated by the country’s government and require that their clients give their details before engaging in trade. They also need clients to connect active bank accounts to their exchange accounts before they can begin transactions.
Giving details can be a deterring factor to some individuals as it takes away anonymity from Bitcoin trading. The advantage exchanges bring to provide a variety of options to traders and allow fair competition among sellers.
Exchanges also offer Bitcoin storage facilities. The downside to that is they are prone to hackers or even shutting down suddenly, making them unfavorable for cryptocurrency storage. Such incidents have happened before with traders undergoing irreversible losses.
P2P
Peer to peer involves buying Bitcoin from an individual seller. The advantage of this kind of purchase is you can keep the transaction anonymous. You have the option of meeting face to face, meeting in a group setting, or transacting online. The most secure of this becomes the group setting, with several buyers and sellers coming together for mutual benefit. You get to learn a lot from those who have gone before you and gain exposure from different approaches to Bitcoin trading.
Take utmost precaution while transacting online or face to face with a seller as many have been duped this way by fraudsters. Always have a witness with you if meeting physically with a seller. Meet in an open and public space where you can raise the alarm if something goes wrong. For online deals, try to get trusted sellers who have a proven track record in the trade. Referrals work better in such transactions where you are referred to a seller by a friend.
Bitcoin Investment Trust
This investment body is one-of-a-kind. You get to invest in Bitcoin without purchasing any cryptocurrency. You save your money in the trust, which pools the funds sent by investors and funds on your behalf. It currently has an investment pool of $1.8 billion with an appreciation of 1,600 percent from its inception.
The ingenuity of this approach ensures you never have to buy Bitcoin yourself. You also learn about cryptocurrency without the fear of undergoing losses or being duped in a deal.
Final Take
While Bitcoin has been around since 2009, it is still evolving. Because of this, some governments are still wary of it. Sellers prefer hard cash or direct deposit from the bank to sell you the digital currency, so they don’t get the transaction reversed after transferring Bitcoin. Bitcoin currently has no reverse option in its system.
Remember also to be cautious when buying the cryptocurrency as there are many fraudsters out there. Use trusted sellers as much as possible. The digital currency world is a continually evolving space, and there will be other avenues created for accessing Bitcoin in the future. Security measures will get better and digital currency will continue to get embraced globally.
The traditional perception of Turkey as a crystal-learning nation seems to be discarded in a recent survey. Paribu had the clear goal of locating 1,000 Turkic people who knew something about crypto. Paribu was a major Turkish financial analyst. In order to accomplish this aim, it took more than 6,000-panel discussions in 12 cities in Turkey, mostly during COVID-19 surge. An important myth regarding the Turkish crypto ecosystem has been refuted by the tests. In a previous survey one-fifth of the Turkish people used or used cryptocurrencies, other foreign bitcoin-players have attracted a lot of attention. The Statista worldwide survey, performed in 18 countries by online polling of 1,000 survey participants in the first half of 2019, named Turkey as the world’s leading cryptography firm .. This remarkable approval rate is the highlight of the many specifications provided since the first article was written about Turkey and the part of the country.
The latest Paribu poll, released on the 23rd of July, contrasts dramatically with previous foreign reports that cryptography is less than 1 per cent between Turkish citizens.
Akademetre market research firm performed the investigation on behalf of Paribu itself, and the findings were published in the study on crypto-monetary consciousness and understanding.
The study reveals that of 6,253 respondents, only 44 have been traded in some form of controlling ownership. This means that only 0.7% of Turks have ever purchased tokens or trade in them. However, 97 per cent of respondents had little awareness that cryptocurrency is managed using blockchain technology. Roughly 85 % of the respondents never learned about Bitcoin ( BTC) or crypto-currency.
This led to a second section of the survey. As 44 is too small to carry out accurate testing, Akademetre and Paribu used another sample afterwards. This time, 300 frequent users of cryptographic products were developed. This latest research extensively explored Turkish crypto users’ experiences for the current sample selection. 34% have shared their faith in crypto among this latest group among 300 participants. It was also observed that the Internet (33.3 per cent) and social media (17.7 per cent) are the top two ways to check for knowledge about crypt on social media platforms.
Crypto is primarily used as an exchange or capital expenditure tool with less than one out of three interviewees utilizing cryptocurrencies to move capital. No matter the way it is used, 72.7 per cent of Turkish public are strongly pleased with crypto. Bitcoin with a 68% supremacy is the top alternative for Turkish crypt clients. Ether (ETH) and Bitcoin Cash ( BCH) respectively pursue BTC from a gap of 14.7 and 9.7%. Paribu CEO Yasin Oral elaborated on the survey findings and highlighted the weak crypto acceptance rate in Turkey by adding.
“The viewership in Turkey is immense.