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Bitcoin

Bitcoin Gains India Fraud

India is one of the most populated countries in the world with high poverty rates that make it ripe for the taking by Bitcoin scammers. The country has seen the Bitcoin currency gain popularity, and this presents hope to the people trying to get out of poverty; a hope that they could make money through the cryptocurrency. This free cryptocurrency course will help you understand what Bitcoin is all about and how you can keep yourself safe from bitcoin thefts and frauds.

On the other hand, it promotes Bitcoin fraud with fraudsters ready to take advantage of the hopeful masses. In India, where traditional currency fraud is still less regulated and monitored as in countries such as the USA, Bitcoin digital currency is bound to present an even more difficult challenge for law enforcement agencies and regulatory bodies, and hence, fraud could be rampant and go largely unchecked within the Bitcoin community.

OneCoin Moves Forward

Besides Bitcoin, Onecoin, a virtual crypto coin by Onecoin Ltd is also moving towards setting up a shop in India, and hence it’s bound to attract a lot of attention as its popularity grows. Unlike Bitcoin, OneCoin is transparent and centralized. Its blockchain is one of the most secure as it uses the Know Your Customer (KYC) policy.

As Bitcoin gains traction in India, the country’s regulatory agencies and citizens should be high on alert on the possibility of fraud using Bitcoin. Already, the locals are feeling the impact. GBMiners and GainBitcoin are supposedly Bitcoin cloud mining schemes in India have been described to be Ponzi schemes. The latter offers a 10% monthly return on investment an absurd claim. The so-called mining company operates on a multi-level marketing arrangement relying heavily on referrals.

In December last year, Lucknow city in Northern India experienced its first case of Bitcoin fraud where a citizen reported that he had been scammed in a Bitcoin transaction. When asked to transfer 1.5 Bitcoins worth about 63,450 Indian Rupees, the money exchange did not come through for the complaint, Shailendra Shukla.

Peer-to-peer Bitcoin trading as in the case of Mr. Shukla has increased because Bitcoin currency is in a way beyond the reach of government and regulatory authorities. As a result, cases of fraud and dishonored promises have been on the rise. The fraud seems to be more widespread and varied as the Bitcoin craze continues to tempt Indian citizens.

Onecoin – Massive Success in India

The prevalence of this cryptocurrency in India is partly due to the demonetization of 86% of currency in November 2016 which according to India Today contributed to a 250 percent rise in the Bitcoin user base. New users joining the digital currency foray are hence likely to encounter unscrupulous experts who are looking for an opportunity to scam them or engage in criminal activities.

Because the Reserve Bank of India does not recognize the currency, Bitcoin companies are launching themselves as a self-regulatory body. The more the bank chooses to bury its head in the sand, the more it is breeding an environment for Bitcoin fraud.

When it comes to cryptocurrency trading, consumers need a currency they can trust. This transparency can be achieved by only having a secure blockchain, such as OneCoin’s.

Bitcoin

Before Investing, Scrutinize Quick 10 Tips for Cryptocurrency Trading

Trading through a digital medium is Cryptocurrency, this trading process typically didn’t exist like paper money, and it doesn’t have any hands of the central authority. It is, however, a very risky medium for investing and transaction processes.

Some fast 10 Tips for Cryptocurrency: 

  • Clear mindset before the entrance to each trade Having a business with e-currencies is a zero-sum game, so here lies a parallel loss to every possible victory. The large whales in this trading process are controlling the Cryptocurrency market and are helping hundreds of Bitcoins.
  • Setting proper targets- Individuals need to be in the trade as long as he is making a profit and should walk away while predicting losses. And setting a clear stop loss level can help in this process.
  • Don’t allow FOMO to kill you: You should never allow FOMO, which is Fear Of Missing Out controlling your mind. Nobody likes to see people with massive profits. But never follow the FOMO formula; it’s like the green candle screaming for you jumping inside the trap.
  • Risk Management: Taking small and sure steps is good for profit gaming rather than massive losses.

 Don’t be greedy with low prices

    1. Whether to invest in a coin doesn’t depend on affordability but depends on the market cap.
  • Hint about Crowd sales/ICOs

ICOs can be either boon or a burden. Therefore, one should be aware of while investing in any ICOs.

  • Now for Altcoin investors: If going for long-distance Cryptocurrencies then the following coins are best like Ethereum(ETH), Factor(FCT), Montero (XRM), and Dash. These are impressive across the world.
  • Diversification of Investment: To make money people should invest in other platforms apart from cryptos, in real estate, mutual funds, stocks, and various other platforms.
  • Basic liability creates explosive market conditions: The growing value of Bitcoins increases the value of altcoins.

Master Plan

  • Now at last! The master trick which legends follow. All wise men use his inbuilt trait of cooling temperance and have the patience for the best time.

In conclusion, It can be argued that all experts in the field of e-trading didn’t become overnight but by following some tricks, and these 10 Tips For Cryptocurrency Trading can help you to lead in that direction.

Bitcoin

Bitcoin- Benefits and Limitations in Simple Language

This article would not need an introduction as it is quite well known all around the world but still there are many people who are interested to know more about it due to the temptation it arouses.

The topic is about bitcoin, the largest branch of cryptocurrency and one that has pushed the boundaries of success much further than any other invention till now and there have been many since time immemorial.

Bitcoin is the current generations obsession and why not? It is the medium which has acquired the merit of turning paupers into princes and it is due to this invention that there are numerous rags to riches stories that only exist in fairy tales.

DNA Test

There have been many rumors and theories circulating regarding bitcoin where some articles have praised it and others have condemned it with choicest abuses and expletives and not without good reason mind you.

Therefore, let us conduct a DNA test and highlight the advantages and disadvantages of bitcoin:

Advantages:

  • The biggest plus point of bitcoin is that it enables ease of payment as it follows a peer to peer technique where you can send and receive payments both at home and abroad
  • The Bitcoin system cannot put constraints on you as you are the sole owner of your savings
  • Transactions can be easily verified through Blockchain

Disadvantages:

  • The wide network of Bitcoin is limited and cannot be accessed by non users
  • The Bitcoin Loophole Review 2020 states that bitcoins are decreasing in number while its demand is increasing at a rapid pace
  • It is held with skepticism due to its reputation being marred after people started doubting its credibility as a result of which its numbers fell due to market diktats

Whatever the numbers may say, it is still a thriving venture that continues to be in demand even after setbacks.

Bitcoin

Bitcoin Trading – Learn Basics Of It!!!

No doubt, technology is continually getting the hype with leaps and bounds. A lot of people are investing money digitally. Here we are talking regarding Bitcoin that is one of the most popular Cryptocurrency. Almost 21 million bitcoins have been mined. It is peer to peer network where one will able to invest the money.

 Before investing the money in Bitcoin, one has to consider lots of important things.  There are a lot of Bitcoin exchanges applications are available that you can download in the Smartphone. It is fairly one of the great platforms which are completely decentralized.  Such fantastic trending platform isn’t regulated by banks and government. If you don’t have sufficient amount of knowledge related to the Bitcoin Trading then you should check my review here. Here are some basics that you need to learn regarding the Bitcoin.

  • Eradicates the Fraud

Bitcoin is one of the most popular platforms where you will able to send the payment to recipient within fraction of seconds. It is completely different from the traditional investment where one can easily earn considerable amount of money. You will surely able to invest money in Bitcoin without requirements of middle man and centralized institutions as well. If you are paying close attention on the constant changes then you will surely able to earn considerable amount of profit.

  • Two keys

Bitcoin have associated with two keys like public and private.  It is considered as one of the great system because one will able to transfer the payment anytime and anywhere within fraction of seconds. You will not have to share secret information with anyone.

Final saying

Lastly, Bitcoin is one of the great platforms that are already used across the globe. A lot of merchants are already accepting such payment method.