The rise of online payment gateways

The cashless payment system is growing exponentially with evolving payment methods, the growing use of e-commerce, improved broadband connectivity and the emergence of new technologies. Can the growing incidence of cyber attacks and spam hinder the growth of the online payments market or will it continue to grow rapidly?

The global digital payments industry is expected to reach the $ 6.6 trillion mark in 2021, recording about a 40% jump in two years. Cashless payment methods are evolving rapidly with revolutionary innovations such as mobile wallets, peer-to-peer (P2P) mobile payments, real-time payments and cryptocurrencies. In the growing digital age, many payment technology companies are working with traditional financial institutions to take care of the latest preferences of consumers and merchants. Thanks to improved broadband connectivity, increased mobile commerce, the emergence of new technologies such as virtual reality, artificial intelligence and rapid digitalisation, billions of people have begun to accept contactless payments in both developed and developing countries. In addition, growing companies for e-commerce, digital money transfers, digital business payments and mobile B2B payments are stimulating the ecosystem of cashless transactions.

Users of cashless transactions of different generations widely accept digital peer-to-peer (P2P) applications because they are more attractive and flexible to use. In-app payments or touch and move transactions take seconds to make payments and allow users to make payments anytime, anywhere. Tokenization, encryption, Secure Sockets Layer (SSL), etc., offer many ways to secure payments while allowing digital transactions. In addition, users do not have to fill in information every time to complete the payment process. Thus, online payment portals play a crucial role in economic growth, enabling trade in today’s economy. With the rules of social distancing, digital payments have become an obligation for contactless transactions, not just an alternative to transactions to prevent the spread of coronavirus.

Digital commerce that enables business

Electronic payment systems have become a crucial part of the business as consumers’ propensity to shop online expands. With the expansion of Internet penetration, the growing use of smartphones and the variety of e-transaction options, most consumers prefer online channels to traditional shopping stores. That’s why companies go online with an electronic payment solution to maximize their profits. The automation of the electronic payment system eliminates the range of errors and saves significant time and effort. High standards for fraud detection and prevention in digital transaction systems and artificial intelligence based fraud detection protect users from security breaches. By providing the flexibility to make payments via credit / debit cards, mobile money, e-wallet, etc., businesses can expand their customer base. The electronic payment process improves customer satisfaction, as customers do not have to count cash or deal with documents when they want to make a transaction.

Biometric authentication to increase security

Biometric authentication involves the recognition of biometric features and structural features to verify a person’s identification. The verification method may include fingerprint scanning, facial recognition, voice recognition, vein mapping, iris detection, and heart rate analysis. With the rise of identity theft and fraud, biometric authentication has become a reliable and secure alternative to digital transactions. According to a recent study, biometrically verified mobile commerce transactions are expected to account for a whopping 57% of the total biometric transaction by 2023. Biometric payment cards are also becoming popular as they support push and move payments, allowing users to make faster digital transactions. Digital payment technology provider Worldline has partnered with France’s FinTech, A3BC (Anything Anywhere Anytime Biometric Connection), to protect mobile phones from intrusion through a two-factor authentication process. The combined solution eliminates one-touch identification, but rather recognizes fingerprints through a photo of the hand. MasterCard plans to introduce FinGo’s vein scan payment solution, which makes it easier for users to authenticate transactions.

Dominance of mobile wallets

In 2019, mobile wallets overtook credit cards to become the widely accepted type of payment worldwide. Digital wallets offer the flexibility for consumers to store multiple payment methods in one digital home and to convert cash into electronic money needed for online or in-store purchases. Financial institutions have already begun to embrace the digital portfolio trend by offering virtual cards to business customers. Virtual cards stored in digital wallets consist of details such as a 16-digit card number, CVV code, expiration date and work just like a physical plastic card. Currently, only 37% of merchants support mobile payments at the point of sale, but with increasing acceptance, merchants are willing to invest in technologies that facilitate digital wallets. Virtual wallets can save money due to low processing costs, as they limit the value and frequency of transactions. Artificial Intelligence (AI) enhances the user experience with ChatBots transactions designed to perform and robotize basic exchanges according to the user’s interest. In addition, e-wallets based on cryptographic money are being adopted by new companies for small and medium-sized digital money storage organizations. Smart voice technology has contributed to the growth of smart voice portfolios since Amazon launched the principle of this platform, which is now followed by Google and Apple.

The e-commerce boom is accelerating the growth of the digital payments market

The growth of e-commerce at an exponential rate is creating shock waves and the sound boom is echoing in the FinTech sector. The growth of many e-commerce companies is driven by the type of financial services they provide. Digital transactions make it convenient for buyers and sellers to make transactions and remain loyal to the market space. The COVID-19 pandemic added a different dimension to e-commerce innovation by introducing newer trends such as alternatives to cash registers (not digital wallets), virtual cards, QR codes and other contactless transactions. In addition, the Buy Now, Pay Later (BNPL) trend dominates the e-commerce industry as it eases the financial burden for the buyer. The BNPL includes a soft credit check so that consumers can buy what they need, maintain inventory movement and pay overtime without affecting their credit rating. BNPL provides businesses with much-needed liquidity and greater cash flexibility.

Impact of the COVID-19 pandemic on the growth of the digital payments market

Digital payment systems have gone beyond their peer-to-peer (P2P) transfers and bill payments. The COVID-19 pandemic has allowed digital payment systems to show their strengths, such as a strong understanding of hyperlocal markets and their ability to establish strong local partnerships. Businesses and consumers are increasingly “switching to digitalisation” to provide and purchase goods and services online. When the pandemic struck, people did not want to touch or exchange cash because of the paranoia of catching the infection from physical currencies. Several governments around the world have introduced digital financial transfers to provide assistance to COVID. Due to the blocking measures, users have switched to online platforms, which catapults the demand for digital payment systems. Digital platforms have now become a major component of people’s lives, and consumers are more likely to continue shopping online in the aftermath of the pandemic. The dramatic change in consumer behavior is likely to further increase the demand for electronic payment systems. That’s why companies are focusing on digital media to meet new customer requirements and thrive their businesses in a changing market scenario. Organizations are rethinking customer travel to reduce friction and provide new security features. Payment companies such as PayPal and Square Cash are recruiting staff everywhere to better understand the rearrangement of public norms and to stabilize the business in the near future.

Electronic payment systems are the future

With the growing penetration of smartphones and the Internet, consumers are becoming technological, which provides endless opportunities for digital payment markets. Digital payment systems after the pandemic are expected to continue to thrive in the coming years. Although cards remain the first choice for payments worldwide, mobile wallets are rapidly gaining popularity. Traditional cash flow is declining in bank branches and ATMs, demonstrating a move towards a cashless society. China currently dominates global consumption of mobile wallets, followed by South Korea. However, there are still many countries that are highly dependent on cash due to a lack of trust in financial institutions and a lack of adequate broadband infrastructure, and so on. to become widespread in developing countries as well.

Concerns about cybersecurity and privacy with online payment solutions

Threats to cybersecurity and confidentiality have become a worrying concern with growing cases of online fraud. According to a Mastercard survey, one in four consumers suffered some form of fraud in 2020, which increased the cybercrime rate by 49%. In the first half of 2020, online fraud increased by 73.8% compared to 2019. However, the adoption of new era technologies such as multi-factor authentication, biometrics, 3D security, artificial intelligence and machine learning can help control fraud activities such as phishing, virus attacks, etc. Switching to contactless cards, QR codes and tokenization can also help mitigate the risks associated with digital payment solutions. In addition, informing end-users about the secure implementation of electronic payment solutions by stepping up efforts to build financial literacy can help prevent fraud. The advent of mobile commerce and the evolution of e-payment platforms, backed by robust security solutions, can help achieve the goal of making the economy truly cashless.

Introduction to Blockchain technology for beginners

Nowadays, technology is raising new heights of success at an incredibly fast pace. One of the latest triumphs in this direction is the evolution of Blockchain technology. The new technology has had a major impact on the financial sector. In fact, it was originally developed for bitcoin, the digital currency. But now it finds its application in a number of other things.

Getting here was probably easy. But it remains to be seen what Blockchain is.

Distributed database

Imagine a spreadsheet that is copied countless times on a computer network. Now imagine that the computer network is designed so intelligently that it regularly updates the spreadsheet itself. This is a general overview of Blockchain. Blockchain stores information as a shared database. In addition, this database is constantly being updated.

This approach has its advantages. It does not allow the database to be stored anywhere. The entries in it have a real public attribute and can be checked very easily. Because there is no centralized version of the records, unauthorized users have no means to manipulate and damage the data. Blockchain’s distributed database is hosted simultaneously by millions of computers, making the data easily accessible to almost anyone on the virtual network.

To make the concept or technology clearer, it is good to discuss the analogy with Google Docs.

Google Docs analogy for Blockchain

After the email appears, the conventional way to share documents is to send a Microsoft Word document as an attachment to the recipient or recipients. Recipients will take the sweet time to review it before sending back the reworked copy. In this approach, one has to wait until the return is received to see the changes made to the document. This is because the sender is not allowed to make corrections until the recipient has finished editing and sent the document back. Modern databases do not allow two owners to access the same record at the same time. In this way, banks maintain balance sheets of their customers or account holders.

Contrary to established practice, Google Docs allows both parties to access the same document at the same time. It also allows you to view one version of both documents at the same time. Just like a shared registry, Google Docs also acts as a shared document. The distributed part becomes relevant only when the sharing involves multiple users. Blockchain technology is somehow a continuation of this concept. Here, however, it is important to note that Blockchain is not intended to share documents. Rather, it is simply an analogy that will help you have a clear idea of ​​this cutting-edge technology.

Characteristic features of Blockchain

Blockchain stores blocks of information on the network that are identical. By virtue of this characteristic:

  • The data or information cannot be controlled by any particular entity.
  • There can be no single point of failure.
  • The data is stored in a public network, which guarantees absolute transparency in the entire procedure.
  • The data stored in it cannot be damaged.

Search for Blockchain developers

As mentioned earlier, Blockchain technology has a very wide application in the world of finance and banking. According to the World Bank, more than $ 430 billion in remittances were sent through it in 2015 alone. Thus, the developers of Blockchain have a significant market demand.

Blockchain eliminates the payment of intermediaries in such monetary transactions. It was the invention of the GUI (graphical user interface) that made it easier for the average person to access computers in the form of desktops. Similarly, the wallet application is the most common GUI for Blockchain technology. Users use the wallet to buy things they want using bitcoin or another cryptocurrency.

6 amazing advantages of cryptocurrency

In the last few years, people have been talking a lot about cryptocurrency. At first, this business sounded scary, but people began to develop confidence in it. You may have heard of ether and bitcoin. Both are cryptocurrencies and use Blockchain technology for the highest possible security. Nowadays, these currencies are available in several types. Let’s learn more about this.

How can cryptocurrency help you?

As far as fraud is concerned, this type of currency cannot be counterfeited as it is in digital form and cannot be reversed or counterfeited unlike credit cards.

Immediate settlement

The purchase of real estate involves third parties, such as lawyers and notaries. So there may be delays and additional costs. On the other hand, bitcoin contracts are designed and implemented to include or exclude third parties. Transactions are fast and settlements can be made immediately.

Lower fees

There is usually no transaction fee if you want to exchange bitcoin or another currency. To verify a transaction, there are minors who receive payment from the network. Although there is a zero transaction fee, most buyers or sellers hire the services of a third party, such as Coinbase, to create and maintain their portfolios. In case you didn’t know, these services work just like Paypal, which offers a web-based exchange system.

Identification of theft

Your merchant receives your full line of credit when you provide your credit card. This is true even if the transaction amount is very small. In fact, what happens is that credit cards work on the basis of a “pull” system, in which the online store withdraws the required amount from the account associated with the card. On the other hand, digital currencies have a “push” mechanism, in which the account holder sends only the required amount without additional information. So there is no chance of theft.

Free access

According to statistics, there are about 2.2 billion people who use the Internet, but not all have access to conventional exchange. This allows them to use the new form of payment.


In terms of decentralization, an international computer network called Blockchain technology manages the bitcoin database. In other words, bitcoin is under the administration of the network and has no central authority. In other words, the network works on a peer-to-peer approach.


Because cryptocurrency is not based on exchange rates, transaction fees, or interest rates, you can use it internationally without suffering any problems. So you can save a lot of time and money. In other words, bitcoin and other currencies like this are recognized worldwide. You can count on them.

So, if you are looking for a way to invest your extra money, you may want to consider investing in bitcoin. You can become a miner or an investor. However, make sure you know what you are doing. Safety is not an issue, but it is important to keep other things in mind. We hope you find this article useful.

Do you need to buy bitcoin?

As a leading world leader in the cryptocurrency market, Bitcoin has made some serious headlines and some serious fluctuations in the last 6 months. Almost everyone has heard of them and almost everyone has an opinion. Some may not understand the idea that a currency of any value can be created out of nothing, while some like the idea that something without government control can be traded as a valuable entity in itself.

Where are you sitting on “Should I buy bitcoin?” The fence probably comes down to one question: Can I make money from bitcoin?

Can you make money from bitcoin?

In the last six months alone, we have seen the price rise from $ 20 per coin in February, to $ 260 per coin in April, back to $ 60 in March, and again to $ 130 in May. The price has already been set at around $ 100 for bitcoin, but what will happen next can be guessed.

The future of bitcoin is ultimately based on two main variables: its acceptance as a currency by a wide audience and the absence of excessive government intervention.

The Bitcoin community is growing rapidly, interest in cryptocurrency has spread dramatically online, and new services are increasingly accepting bitcoin payments. The blogging giant WordPress is accepting bitcoin payments, and Africa-based mobile application provider Kipochi has developed a bitcoin portfolio that will allow bitcoin payments to mobile phones in developing countries.

We have already seen how people make millions from currency. We are seeing a growing number of people experimenting to live with bitcoin for months on end, while recording the experience of watching documentaries.

You can buy home food in Boston, coffee in London and even a few cars on Craigslist using bitcoin. Demand for bitcoin increased in 2013 with the rise in April and the subsequent fall in the price of bitcoin. Last week, the first major acquisition of a bitcoin company for SatoshiDice, an online gambling site, was made for 126,315 BTC (about $ 11.47 million) from an undisclosed buyer.

This rapid growth in awareness and absorption seems to be continuing if confidence in the currency remains strong. Which leads to the second dependence. Government regulation.

Although specifically designed to operate independently of government control, bitcoin will inevitably be affected by governments in some way. This must be the case for two reasons.

First, in order to achieve high levels of utilization, bitcoin will have to be accessible to a large number of people, and this means spreading beyond the realm of hidden transactions to normal daily transactions for individuals and businesses. Second, these bitcoin transactions can become a traceable part of people’s taxable wealth, which can be declared and regulated along with any other type of wealth.

The European Union has already announced that bitcoin is not classified as a currency of fiat or money and as such will not be regulated independently. In the United States, the 50 state system and the number of bureaucrats involved have inevitably made decisions difficult, without consensus being reached so far. Bitcoin is not considered money as such, but it is considered to act as money.

The booming US bitcoin market has a more uncertain future for now, and any final US legislation could have a very positive or very negative effect on the future of bitcoin.

So, do you have to buy bitcoin?

The answer depends mostly on how prone you are to risk. Bitcoin will certainly not be a problem-free investment, but the potential of this currency is huge.

Good reasons to use the cryptocurrency Bitcoin

Bitcoin is a relatively new type of currency that has just begun to appear on the mass markets.

Critics say the use of bitcoins is not safe because –

  • They have no authentic value

  • They are not regulated

  • They can be used to make illegal transactions

All the major players in the market are still talking about bitcoins. Below are some good reasons why it is worth using this cryptocurrency.

Fast payments – When payments are made using banks, the transaction takes several days, similarly bank transfers also take a long time. On the other hand, bitcoin transactions with virtual currency are usually faster.

“Zero Confirmation” transactions are instantaneous when the trader assumes a risk that has not yet been approved by the Bitcoin blockchain. If the merchant needs approval, the transaction takes 10 minutes. This is much faster than any interbank transfer.

Cheap – Credit or debit card transactions are immediate, but you will be charged for using this privilege. Bitcoin transactions are usually low and in some cases free.

No one can take it away – bitcoin is decentralized, so no central authority can take a percentage of your deposits.

No refund – Once you trade bitcoins, they are gone. You cannot request them back without the consent of the recipient. This makes it difficult to commit a fraud with a refund, which is often encountered by people with credit cards.

People buy goods and if they find that they are defective, they contact the credit card agency to cancel the payment, effectively returning the transaction. The credit card company does this and charges you an expensive refund fee ranging from $ 5- $ 15.

Secure personal data – Credit card numbers are stolen during online payments. Bitcoin transaction does not require any personal data. You will need to combine your private key and bitcoin key together to complete the transaction.

You just need to make sure that your private key is not accessible by strangers.

Not inflationary – The Federal Reserve prints more dollars as the economy disperses. The government injects the newly created money into the economy, which reduces the value of the currency, thus causing inflation. Inflation reduces people’s ability to buy things because commodity prices rise.

Bitcoins are in limited quantities. The system is designed to stop digging for more bitcoins when it reaches 21 million. This means that inflation will not be a problem, but deflation will be triggered, in which commodity prices will fall.

Semi-anonymous operations – Bitcoin is relatively private but transparent. The bitcoin address is revealed in the blockchain. Anyone can search your wallet, but your name will be invisible.

Easy micropayments – Bitcoins allow you to make micropayments like 22 cents for free.

Substitute for fiat currencies – Bitcoins are a good option for holding national currencies that are experiencing capital controls and high inflation.

Bitcoins are becoming legitimate – Large institutions such as the Bank of England and the Fed have decided to take bitcoins for trading. More and more retailers such as Reditt, Pizza, WordPress, Baidu and many other small businesses are now accepting bitcoin payments. Many binary traders and Forex brokers also allow you to trade bitcoins.

Bitcoin is the pioneer of the new era of cryptocurrency, a technology that gives you a glimpse into the future currency.

A step-by-step guide to digging bitcoin for beginners

Bitcoin mining is the act of verifying transactions that take place in each blockchain. This validates each transaction and then shares the transaction publicly on a peer-2-peer network so everyone can see. Bitcoin miners are the people responsible for verifying and validating each transaction before it is added to a blockchain creation block. After a miner places the next block in the blockchain, he / she can request a reward, which is usually in the form of bitcoins. The more mathematical calculations you solve, the greater the reward.

You do not need to be a professional software developer or encoder to participate in bitcoin mining. Below is an easy-to-follow step-by-step guide for a beginner in bitcoin digging.

Get bitcoin digging hardware

Bitcoin digging hardware

The world of mining is becoming more complex as mining uses higher computing power. The higher the level of digging, the harder it is to make a profit, because the investment in hardware is so high. Bitcoin mining is very competitive and you need to do adequate research before investing in hardware. It used to be possible to use your personal bitcoin digging processor, but due to the complexity of digging, this method is no longer viable. You need to buy a specially built computer whose main purpose is to dig up bitcoins.

Get a bitcoin wallet

Bitcoin wallet

You need to have a wallet that is local or online based to store your digital currency. The wallet comes with a public wallet address and a private key or password, which are the most important details to note. If your wallet is hosted on its own, you need a copy of the wallat.dat file to prevent losing your investment. It acts as a backup wallet if something unfortunate happens to your machine. One can even get wallets for their mobile devices. The highly recommended wallet is the self-hosted or locally produced wallet.

Find a pool to join

Mining pool

It is advisable to join a digging pool or choose to dig yourself. The digging pool is a group of miners who come together to share resources and share rewards. The pool guarantees you a faster return while combining your computing power for better results. Each pool has its own rules, method of remuneration and fee charged for digging. You need to find one that best suits your needs. Digging itself is complicated and you may never get a return on investment.

Get digging software for your computer

Mining pool

There are different free digging programs depending on the hardware you use. The digging program helps monitor and control your hardware. Some common digging programs are CGminer, BFGminer and EasyMiner. If you are in a pool, it is recommended that you consult with them while connecting your pool to your program. Programs run on the command line and may require a batch file to run properly.


After all this, you are ready to go. Start your digging program and get started by entering your username and password. You will notice that your machine slows down while the miner is running.

It is very important to monitor temperatures carefully, as the software causes your hardware to heat up. Some programs such as SpeedFan can keep the temperature under control. You don’t want to risk literally blowing up your investment before you even start working. After a while, you need to check how much you are doing to see if your investment is worth working on.

What is the meaning of Blockchain?

The blockchain is a unique invention: the offspring of a person or group of people known as Satoshi Nakamoto. But since then it has become something more significant and the central question everyone asks is: What is Blockchain?

By allowing digital but not copied data to spread, blockchain technology has created the backbone of a new type of Internet. Originally designed for the digital currency, the Buy Bitcoin community technology now finds other potential benefits of the technology.

Bitcoin is called “digital gold” and for good reason. So far, the total value of the currency is nearly $ 9 billion. And blockchains can make other types of numeric values. Like the Internet (or your car), you don’t need to know how the blocker uses it. However, basic knowledge of this new technology shows why it is considered revolutionary.

Blockchain durability and strength

Blockchain technology is like the Internet to have integrated resilience. By storing identical blocks of information on your network, blockchain cannot:

1. There is no point of failure.

2. Be controlled by each subject.

Bitcoin was invented in 2008. Since then, the Bitcoin blockchain has been operating without significant disruption. (So ​​far, all bitcoin problems are caused by hacking or mismanagement, in other words, these problems arise from evil intentions and human error, not from imperfections in basic concepts).

The Internet itself is almost 30 years old. This is a record that is good for blockchain technology because it is still evolving.

Who will use the blockchain?

As a web infrastructure, you don’t need to know the chain of blocks to be useful in your life.

Currently, finance offers the most influential uses of technology. For example, international payments. The World Bank estimates that more than $ 430 billion in remittances were sent in 2015. And so far there is a great demand for development engineers.

Blockchain potentially reduces intermediaries for this type of transaction. Personal computers have become more accessible to the general public with the inventory of the graphical user interface (GUI), which formed the “desktop”. Also, the most common graphical interfaces designed for Blockchain are called so. Wallet applications used by people to buy things with bitcoin and store them with other cryptocurrencies.

Online transactions are closely linked to authentication processes. It is easy to imagine that portability applications will change in the coming years to include other types of identity management.

How to make your own cryptocurrency in 4 easy steps

Okay, so cryptocurrency this, bitcoin that!

Enough, there was so much noise from the boom created by virtual currencies that the Internet was overloaded with information on how you could make more money by investing in those currencies. But have you ever wondered how cool it would be if you could create your own cryptocurrency?

I never thought about that, did I? It’s time to think, because in this post we will provide you with a four-step guide to creating your own cryptocurrency. Read the post and then see if you can do it yourself or not!

Step 1 – Community

No, you don’t have to build a community like you do when planning to run social media. Here the game is a little different. You need to find a community of people who you think would buy your currency.

Once you identify a community, it becomes easier for you to take care of their needs, and therefore you can work to build a stable cryptocurrency instead of doing what you want to achieve.

Remember that you are not here to be part of the spectator sport – you are in it to win it. And having a community of people who would like to invest in your currency is the best way to do it!

Step 2 – Code

The second important step is coding. You don’t have to be a master coder to create your own cryptocurrency. There are many open source codes available that you can use.

You can even go ahead and hire professionals who can do the work for you. But when coding, remember one thing – explicit copying won’t get you anywhere.

You need to bring some uniqueness to your currency to distinguish it from those that already exist. It must be innovative enough to create waves in the market. This is the reason that just copying the code is not enough to be on top of the cryptocurrency game.

Step 3 – Miners

The third and most important step in the process is to attract some miners who will actually dig up your cryptocurrency.

This means that you need to have a certain set of people connected to you who can actually spread the information about your currency in the market. You need to have people who can raise awareness about your currency.

This will give you an advantage. And as they say – well started is half done; miners can ultimately lay the groundwork for a successful journey for your cryptocurrency in ever-increasing competition.

Step 4 – Marketing

The last thing you need to do as part of the work here is to contact merchants who will eventually trade the virtual coins you have built.

Simply put, you need to put these coins on the battlefield where real people would be interested in investing in them. And this is by no means an easy feat.

You need to gain their trust by telling them that you have something to offer.

How do you get started? The best way to market your coins initially is to identify the target audience that knows what a cryptocurrency is.

After all, there’s no point in trying to sell your stuff to people who don’t even know what a cryptocurrency is.


So, you can see that building a successful cryptocurrency is more about being aware of market trends and less about being a hardcore technician or cutting-edge coder.

If you have this consciousness in you, then it’s time to flourish while the sun shines in the niche of cryptocurrency. Continue and plan to build your own cryptocurrency by following these simple steps and see how it turns out for you!

What is bitcoin and why is cryptocurrency so popular?

Bitcoin is a popular word in the financial space. In fact, bitcoin has exploded the scene in the last few years, and many people and many large companies are now jumping on bitcoin or cryptocurrency, wanting some of the action.

People who are completely new to the realm of cryptocurrencies are constantly asking this question; What exactly is bitcoin?

Well, for starters, bitcoin is actually a digital currency that is beyond the control of any federal government, used around the world, and can be used to buy things like your food, drinks, real estate, cars, and more.

Why is bitcoin so important?

Bitcoin is not susceptible to things like government control and fluctuations in foreign currencies. Bitcoin is supported by the full faith of (you) the individual and is strictly equal.

This means that everyone makes bitcoin transactions, the first thing they realize is that it is much cheaper to use than trying to send money from bank to bank or using other services that require sending and receiving money internationally.

For example, if I wanted to send money to, say, China or Japan, I would have to have a fee from a bank and it would take hours or even days for that money to get there.

If I use bitcoin, I can do it easily from my wallet, mobile phone or computer instantly without any of these fees. If I wanted to send, for example, gold and silver, it would require a lot of guards, it would take a lot of time and a lot of money to move the bars from point to point. Bitcoin can do it again with the touch of a finger.

Why do people want to use bitcoin?

The main reason is that bitcoin is the answer to these destabilized governments and situations where money is no longer as valuable as it used to be. The money we have now; the paper fiat currency in our wallets is useless and will cost even less in a year.

We even see large companies that are interested in blockchain technology. A few weeks ago, a survey was conducted among a handful of Amazon customers to see if they would be interested in using cryptocurrency if Amazon created one. The results of this showed that they are very interested. Starbucks even hinted at using a blockchain mobile app. Walmart is even applying for a “smart package” patent that will use blockchain technology to track and authenticate packages.

All our lives we have seen many changes in the way we shop, the way we watch movies, the way we listen to music, read books, buy cars, look for homes, now how we spend money and banking. The cryptocurrency is here to stay. If you haven’t done so yet, it’s time for everyone to fully explore the cryptocurrency and learn how to take full advantage of this trend, which will continue to thrive over time.

The best bitcoin trading platforms

Cryptocurrency has not only provided the fastest way to transfer money, but also a new object with which to trade and earn money, in addition to stocks and other goods. Although you can sell and buy bitcoin directly, you can also use bitcoin exchanges to continue your cryptocurrency transactions. There are many exchanges where bitcoin trading is safe and secure, and customers are also facilitated with many advanced services. As an investor or cryptocurrency trader, you can choose one of the exchanges for your convenience. However, it is advisable to take a look at the reviews of some before giving up on this one. Below is a brief overview of the best bitcoin exchanges in the world.

CoinBase: Probably one of the most reputable and largest exchanges for bitcoin trading with double trading directly and through the portfolio. CoinBase was founded in 2012 by opening a Y-Combinator company and has grown rapidly since then. There are many lucrative services such as multiple deposit and withdrawal options, money transfers between two CoinBase are instant, a wallet with multiple signature options for more secure transfers, bitcoin deposits are insured for any loss, etc. CoinBase has a wide variety of payment partners in Europe and the US that seamlessly allow transactions to be made through them. It has relatively low transaction fees and offers bitcoin trading, along with a large number of altcoin trading.

CEX.IO: One of the oldest and most reputable exchanges, launched in 2013, London as a bitcoin exchange and also as a cloud mining assistant. Later, its production capacity increased so much that it held almost half of the network’s production capacity; however, it is now closed. CEX.IO allows customers to expand to a much larger number of bitcoin transactions and has the ability to immediately provide bitcoin at a asking price. However, this exchange is charged a slightly higher amount for exchange, but this is offset by the security and ability to allow multi-currency transactions (dollar, euro and ruble) to purchase bitcoin.

Bitfinex: This is one of the most modern trading exchanges and is especially suitable for experienced cryptocurrency traders. With high liquidity for Ethereum as well as Bitcoin, this exchange has better options such as leverage, margin financing and multi-order trading. In addition, Bitfinex offers custom GUI features, many types of orders, such as limit, stop, trailing stop, market, etc. This exchange also provides about 50 currency pairs that can be traded and easily withdrawn for everyone. One of the largest exchanges in terms of trading volume, Bitfinex offers pseudonym for transactions and requires identification for only some of the services. The only drawback of this exchange is that it does not support the purchase of bitcoin or other altcoins through fiat transactions.

Bitstamp: Founded in 2011, it is the oldest exchange that offers cryptocurrency and bitcoin trading. The most respected, because although he is the oldest, he has never been under threat to security until recently. Bitstamp currently supports four currencies, Bitcoin, Ethereum, Litecoin and Ripple, and is also available with the mobile app, in addition to a trading website. It has great support for European consumers or merchants who have a Euro Banks account. Security has also been improved by cold storage, which means that coins are stored offline. So you can say that it is completely impossible for a hacker to break in. Finally, its sophisticated user interface suggests that it is not for novice users but for professionals, and offers relatively low transaction fees.

Kraken: This is one of the largest exchanges for bitcoin trading in terms of liquidity, cryptocurrency volumes in euros and trading data in Canadian dollars, US dollars and yen. Kraken is the most respected exchange, managed during the turmoil of cryptocurrency trading and managed to keep the quantities of customers safe, despite other exchanges that were hacked at the same time. With 14+ cryptocurrency trading facilities, the user can deposit fiat as well as cryptocurrency along with similar towing capacity. However, it is not suitable for beginners, but has better security features and lower transaction fees compared to CoinBase. The most important factor for Kraken is that it has trust in the community and is the first to show the volumes and prices of Bloomberg Terminal.