Crypto & Hazard | Ico Involve

September 19, 2021

Cryptocurrency | Unfavorable Aspects of Bitcoin

Eija Järvinen

Crypto & Hazard, Cryptocurrency

Safety: is it really as safe as it seems?

Although the blockchain system is in principle known as a thoroughly secure system, it is of course questionable whether this is actually the case. The corresponding bitcoins must be stored in online or offline wallets. Fraud is possible with both. Nowadays everything can be hacked and you regularly hear stories about bitcoin theft and fraud with hardware wallets.

Governments want to curb it

One of the reasons cryptocurrency was developed is to minimize or even eliminate government intervention. Since the government earns a lot from things like taxes, and they have absolutely no control over cryptocurrencies, this is a reason for panic. An advantage is that it is not possible to restrict it completely, mainly because it is simply not easy and complete to trace. However, they can make it difficult by, for example, ensuring that regular currencies can no longer be converted into cryptocurrency or vice versa. As a result, entrepreneurs will not soon accept the crypto coin as a means of payment, as a result of which the entire basis of the bitcoin is gone. It is then purely an investment object based on supply and demand. But for example, you don’t have a bitcoin, you can still visit 우리카지노 to play reliable games and earn money!

Volatile product

It has been fixed from the very beginning of bitcoin: only 21 million of these digital coins are produced. However, the coin’s popularity is at an all-time high. As a result, the price is currently going up and down. This is of course nice to make profits in the short term, but this makes Bitcoin less suitable as a means of payment at the moment. After all, why spend your Bitcoins on a bicycle when you can buy a car for it a few days later.

Not guaranteed capital retention in case of problems

In the Netherlands, all banks have agreed that you will not lose your money if a bank goes bankrupt. That is when the deposit guarantee scheme comes into effect. This means that each customer gets up to €100,000 in savings back. All Dutch banks fall under this scheme, so you can save safely. However, Bitcoin is not regulated by any government. In fact, it is not regulated at all. Should something ever happen, for example, that the wallet you are using is “hacked” or somehow collapses, you will lose your money. There is no recourse from anyone except the party where you have deposited your money. However, there is a good chance that they will not give at home.

Transaction costs are getting higher

At the moment, the transaction costs of a bitcoin transaction are getting higher and higher. It is extremely busy on the network and this means that fees have to be paid so that transactions are executed (faster). The future of the Bitcoin transaction is very uncertain at the moment anyway. Now there is a reward waiting for people who make their computers available to validate transactions because bitcoins can still be mined. However, the question is who will validate bitcoin transactions when all bitcoins have been mined since in all likelihood there is no longer any reward attached to it.

Power consumption is insanely high

The computing power required to mine bitcoins and complete transactions is incredibly complex. This leads to insanely high power consumption. At the time of writing (Jan. 2018), the Bitcoin network is said to consume more power than the whole of the Netherlands. This means that in 2018 the network will probably account for 0.6% of the total energy consumption worldwide (!). This does not exactly make it an environmentally conscious and sustainable payment method.

September 16, 2021

Online Gambling Cryptocurrency Hazards

Eija Järvinen

Crypto & Hazard, Cryptocurrency, gambling

No Comments

Bitcoin is blasting in the gaming business. State controllers dread losing their control and see the danger of tax evasion or money laundering. Indeed, even Gibraltar needs to keep bitcoins out of its online club.

Any individual who has dozed through the promotion about the crypto-cash Bitcoin might in any case have the option to get up to speed with lost benefits. Basically with a ton of luck, to be exact. Since the odds of speculating the six right ones in the Bitcoin lottery, which the Gibraltar-based gaming organization Lottoland began in December, are somewhat sensible. In the event that you actually oversee it, you can win a bonanza of 1,135 Bitcoin with a stake of three and a half euros, which was what could be compared to around 15 million euros toward the beginning of December. “This is the manner by which you can undoubtedly take part in the Bitcoin blast!” Advertises Lottoland on its site.

As essentially as promoting sales interest in the Bitcoin blast, state controllers are stressed over the utilization of cryptographic money in the gaming business. Since the betting suppliers, which are now frequently working in the gray area, totally pull out their installment through Bitcoin from the control of monetary specialist co-ops. It isn’t just the German gaming administrative position that is battling with virtual cash. Even the Gibraltar administrative position, in any case not by and large queasy in managing questionable betting suppliers, doesn’t have any desire to endure bitcoins in their online clubs, casinos, or online slots.

Betting organizations are not permitted to acknowledge Bitcoins in Germany

In Germany as well, the specialists are battling with the utilization of Bitcoins in online clubs and dread an increment in tax evasion. The Lower Saxony Ministry of the Interior, which organizes the anticipation of unlawful installment streams from the online clubs, says regarding the matter of Bitcoin: “Online Gambling, for the most part, has a higher danger of illegal money laundering, as huge totals can be turned over rapidly and without any problem. The simpler it is to show up namelessly or with misrepresented characters, the higher the danger of misuse. ”

As to Bitcoin, the service additionally gripes that “the discernibility and straightforwardness of installment streams are made more troublesome by expanded secrecy in installment exchanges”. Regardless, online gambling is just permitted in Germany in extraordinary cases. Cash moves in bitcoins to player accounts in the online clubs are for the most part restricted. Since bitcoins are not permitted, betting organizations are “not permitted to acknowledge e-money”.

September 14, 2021

Top Reasons to Gamble in 온라인홀덤 Using Crypto

Eija Järvinen

Crypto & Hazard

No Comments

Paying in online casinos with crypto is on everyone’s lips

Crypto: New possibilities & advantages for 온라인홀덤 gambling

Ultimately, it is a fact that gamblers who want to play for money must also make the appropriate deposits. The money remains money, whether it is real money or bitcoin currencies. But wait, there are a few reasons that speak for the emergence of more and more Bitcoin casinos.

It doesn’t matter whether you use Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple or any other Bitcoin currency. They all have some advantages over so-called fiat currencies, i.e. real money.

Crypto for 온라인홀덤 gambling: Increased security & anonymity

Probably the most important reason why Bitcoin and Bitcoin casinos are becoming increasingly popular is the security of personal data. Because, unlike many other payment methods, you will not exchange personal data when making a deposit using the Bitcoin wallet.

So nowhere does it appear except in the Bitcoin wallet where you have transferred a payment or where a payment is coming from? Nobody can tell that you are investing your money in 온라인홀덤 gambling. It is best if you use your own Bitcoin wallet instead of a cryptocurrency exchange.

Be it a cloud-based wallet, an unregulated exchange or a software or hardware wallet, you ensure that your data cannot be exchanged or viewed by third parties one hundred percent.

Another point here is that you do not have to provide any personal data when registering in crypto casinos.

Crypto for 온라인홀덤 gambling: Overcome limitations

Another reason why bitcoin gambling is so popular is that it can be used to avoid geolocation-based restrictions. This is because a bitcoin casino, by definition, has to accept any player who brings bitcoins to play with.

This allows Bitcoin casinos to circumvent the restrictions often imposed by the authorities on geo-based player selection. Because in a Bitcoin casino bets can be accepted from anywhere in the world and at any time. At the same time, it remains the decision of the online casinos whether you really do without the imposed licensing requirements by introducing the crypto payment methods or whether you still accept the restrictions on the admission of players in order to keep your license.

September 12, 2021

The Rules Of Online Gambling

Åke Inberg

Crypto & Hazard

No Comments

Slot machines don’t have rules. Sure, you spin the reels and see what happens? That was probably true within the past, but slot games have evolved dramatically, and also, the gameplay has become somewhat more sophisticated. You should try 바카라. The games use RNGs to see the result, yet you make specific inputs to tailor the sport towards your tastes. Below, we’ve got provided a short on the foundations – and a few tips and guidelines – for online slots:

CHOOSING YOUR BET

The first and simplest step: Adjust your bet to a stake that suits your playing style. Most online slot games are often played for just pennies, but they’re ready to accept bets of many dollars per spin.

PAYLINES

It’s probably easier to search out a web coin machine with dozens of pay lines than it’s to search out one with one pay line that you would keep company with classic ‘fruit machines. With many slot games, you’ll adjust the number of pay lines. However, it’s essential to test the principles because some jackpots can only be triggered when the maximum number of pay lines are activated.

BONUS FEATURES

Almost every slot game will now have a minimum of one particular feature. The bonus games can be seen as interactive board games or be a group of free spins added enhancements. It’s vital to grasp that these games are relative to the worth of the triggering spin, so it’s wise not to adjust your bet continually.

PROGRESSIVE JACKPOTS

Progressive jackpot games use software to create huge prizes – potentially worth millions – which any spin will trigger. The prizes are given randomly, but your chances are high and increased by playing for the next bet. You ought to consider this when playing a progressive jackpot game, perhaps by playing for a somewhat higher wager than usual (if you’ll be able to allow it).

WAGERING REQUIREMENTS

Many casinos give bonuses once you initially sign on. to test the foremost up-to-date bonuses at casino.com – click here – and you’ll be able to get an inspiration of what’s on offer. However, bonuses aren’t just free cash; they need to be played various times before they may be withdrawn. This stipulation is sometimes called wagering requirements. Slots are usually the most simple choice to meet these requirements, as table games countless to the turnover, but you ought to confirm that your chosen slot isn’t excluded.

VOLATILITY

We mentioned that slots are run on RNGs, which guarantee a good and random outcome. However, games may have different ‘temperaments.’ that’s to note that some slots are programmed to own higher wins that occur less frequently, whereas others will have smaller wins that occur more regularly.

RTP

Virtual game will have a listed RTP (Return to Player). It is the house edge for virtual contests. Independent auditors test it, then usually published it on the casino site but they have different RTP. Cinerama slot, for instance, features a high RTP at 98.4%, whereas Leprechaun’s Luck encompasses a much lower RTP. Remember, what we said about volatility doesn’t mean you won’t win, but it is often a significant part of your strategy.

KEEP IT FUN

The fundamental rule for enjoying slots is to stay a cool head: Only spend what you’ll be able to afford; take an occasion if you have got been playing along while; never bet after you are angry or frustrated; set a target for wins and losses; and, detain mind that the house (usually) always wins.

September 8, 2021

Pros and Cons of Crypto in UFA49TS Gambling

Eija Järvinen

Crypto & Hazard

No Comments

Digital currencies, also known as cryptocurrencies or crypto for short, are becoming increasingly important. Not only in online trading, as a speculative or investment object, but also in the area of online gambling such as แทงบอลสด.

Advantages of cryptocurrency in UFA49TS gambling

The nice thing about having crypto is that it is a decentralized and digital currency that has not yet been connected to the financial market. In addition, coins are now available on many wallets.

Decentralized cryptocurrencies include Bitcoin, Bitcoin Cash and Ethereum. On the other hand, it looks a little different from the tether, because this is pegged to the US dollar.

If you don’t necessarily want to trade in Bitcoin, Ethereum and other currencies, you can simply buy and hold them.

Benefits of crypto payments for online gambling

Maximum security with decentralized wallets
Payments are largely anonymous
Transactions are completed in real-time
There are almost no transaction fees in the casino
Protection of personal information during the payment process
An internet connection is not absolutely necessary
Money or coins are often insured
Accessible to everyone

Disadvantages of cryptocurrencies when playing UFA49TS casino

In fact, there is also a disadvantage, because the exchange fees are sometimes quite high. It is all the more worthwhile to compare wallets in advance and set up an account where the costs are manageable. Coinbase is currently doing its best on this issue.

The main disadvantages at a glance:

Sometimes crypto coins are not recognized as a means of payment. Acceptance in both retail and banking is heavily dependent on how well known the currency is. This makes paying with Bitcoin much easier.
There are few crypto ATMs to be found. The easiest way to get money is via crypto wallets by exchanging it for cash on an account or credit card
Due to the dangers of cybercrime, the high level of anonymity is not always beneficial. Owners of digital currencies are therefore responsible for protecting their coins themselves – for example with the help of cold wallets.
The high power consumption and the massive computing power required are rather counterproductive when it comes to environmental protection.

The casinos themselves rarely charge fees. Although these have no influence on costs that arise elsewhere namely when buying and exchanging coins.

July 16, 2021

Assessment Of Gambling-Cryptocurrency Market

Eija Järvinen

Crypto & Hazard

No Comments

Several gambling companies worldwide integrate successfully Blockchain technologies. The online gambling sector is the area most exposed to these changes due to these technological developments. In fact, players use cryptocurrencies to make deposits and withdrawals in online casinos such as ufabet.

Unfortunately, there is no global regulatory unit and this will harm both the players and the industries themselves in the long run. There are countries that have begun to think of legislative regulations and regulatory and control institutions regarding cryptocurrencies and the blockchain. Other states have even scheduled launches of national virtual currencies while other states are not even thinking of joining.

Cryptocurrencies for the UFABET gaming industry are attracting more and more users

Cryptocurrencies used in the field of gambling remain popular among crypto users. The combined market value of the top 25 cryptocurrencies used in the global gambling industry was estimated at the end of 2020 at more than $ 150 million.

Today, after the spectacular growth of virtual currencies around the world, the top 25 cryptocurrencies used as a form of payment in the global online gambling industry have a market value of 1.55 billion dollars, with turnovers of $ 380 million daily.

According to research, tens of thousands of customers play in blockchain casinos every week worldwide.

https://www.youtube.com/watch?v=Wz_eUgUaxB8

The advantages of cryptocurrencies for casino players

One of the key advantages of this option would be that this type of online entertainment paid for in this way offers privacy. Players participate anonymously in the game. This allows them to focus exclusively on how their game is progressing, rather than on what other players may or may not see about what they are doing.

Moreover, blockchain technology guarantees the security of online casinos. As anybody aware of cryptocurrency technology will know, all trades transacted during the game will be recorded. They will assign codes to all transactions.

If you are lucky enough to win, the money can be instantly transferred to your own wallet. You can use this for other cryptocurrency transactions or convert it into cash. You can convert this without having to link to any bank or financial institution. This minimizes any transaction fees applied to the player’s winnings. Bitcoin has the advantage over other cryptocurrencies because it is easy to split into smaller fragments. Small bets are not hard to place on certain games, such as a poker game, which makes it especially appealing.

June 15, 2021

What to Know before Investing in Crypto?

Klimor Napos

Crypto & Hazard, Cryptocurrency

No Comments

Between cameos of Dogecoin on US TV as well as the ever-growing popularity and acceptance of Bitcoin on Wall Street, cryptocurrency is starting to reach a broader audience than before. Prices are skyrocketing and definitely temps newcomers to invest without actually thinking it through. Just a little thought, investing in Bitcoin or cryptocurrency, in general, is synonymous with gambling like in Mega888.

It is imperative to know what you are doing, understand the concept of the game, or in this case, the investment you are about to make, and learn how to control your emotions. Of course, on top of that, you need to have discipline in everything you do.

A General Consensus in Cryptocurrency

Whether you are a newbie or pro, you definitely know someone who is curious enough about cryptocurrency after reading it online or hearing it on TV. If you or you know someone who is interested, let them know about the following first.

Only Invest the Money You Comfortable to Lose

Cryptocurrency is just riskier compared to other forms of investment. There’s no guarantee into it aside from its volatility. In addition to that, it is unregulated. The prices of every coin wildly swing every minute. While the market basks in bull runs, it endured protracted and even painful corrections.

Perform thorough Research

Before investing a large sum of money in crypto, you’ve got to spend hours after hours of research. This is the only way that you can better understand the risks and value proposition. Read everything that you could about this topic. After all, there are lots of sources that you can use such as the “Learn Section” from CoinDesk.

If needed be, check out developer mailing lists and community forums. Subscribe to podcasts, scan the internet, and everything you can do to expand your knowledge in cryptocurrency.

Resist the Fear of Missing Out

If the sole reason why you are investing in something is just to avoid the feeling of missing out, then it is best to pause and take a break. Fear of missing out or FOMO as what others call it is a surefire way of destroying whatever wealth you might have accumulated throughout the years. In cryptocurrency, you need to know what you are buying.

Investing in cryptocurrency is a combination of the tips mentioned in this article. You don’t have to rush as there are many opportunities that you can take. Once again, this would be possible if you have done in-depth research.

May 9, 2021

Cryptocurrency Became Famous In Online Casino

Eija Järvinen

Crypto & Hazard

No Comments

The curiosity in Bitcoins and the like is growing all the more. The well-known cryptocurrencies can be found everywhere today when it comes to paying on the Internet. They have long since found their way into everyday life and are used to buy services and goods.

So it’s no wonder that the gaming industry also uses the advanced currency system. Bitcoin casinos are becoming increasingly popular and players want to deposit and withdraw using crypto.

Bitcoin payment request in online casinos

Only offering Bitcoin as a payment option is not enough for the players and many online casinos have adapted to this.

They offer the following additional digital currencies:

Bitcoin – BTC
Ethereum – ETH
Bitcoin Cash – BCH
Dogecoin – DOGE
Dash – DASH
Litecoin – LTC

Before you start your gaming fun in situs togel terpercaya with real money, you should create an account for your cryptocurrency with a Bitcoin wallet provider or with a swap exchange. Then you look for the best Bitcoin casino, register and choose your cryptocurrency as a payment method and the desired amount.

Then you transfer the first deposit with Bitcoin or another cryptocurrency from your own wallet to the wallet of the online casino with real money. This works conveniently using the address line and the fastest using a QR code. The deposit only takes a few seconds and nothing stands in the way of having fun.

The advantages of cryptocurrency when playing in casinos with real money

Convenient and comfortable
Anonymous transactions
Lower cost
Complete security
Worldwide usage
Money transactions not traceable
No verification necessary

The online casino player’s point of view about cryptocurrencies: More advantages than disadvantages

Cryptocurrencies have more advantages than disadvantages, which make their gaming fun safe, and lucrative for players. Many extensive bonuses and cashback offers are offered in the Bitcoin casinos when using cryptocurrencies. These rewards should be used in any case, as they are ideal as increased start-up capital for lots of opportunities to win.

However, in online casinos with real money, it is not enough to only offer Bitcoin transactions. Players want to be able to fill their casino accounts with a variety of different cryptocurrencies to play.

May 6, 2021

Cryptocurrency Accepted Means Of Payment Even On Online Casinos

Eija Järvinen

Crypto & Hazard, Cryptocurrency

No Comments

Since its introduction in 2009, the financial world has been discussing the opportunities and risks of bitcoin. Meanwhile, digital currencies have evolved from a marginal phenomenon and a speculative object for outsiders to a serious size in the financial market. It has also penetrated the betting industries from which you can use bitcoins to play on online casinos like play88 casino.

In the recent past, bitcoin has seen huge increases in value but has suffered almost as much declining value. The question, therefore, arises whether Bitcoin and Co. have the potential to secure a reliable place in the financial market and thus also offer an investment alternative for newcomers and smaller investors.

From nerd currency to international means of payment The original idea of a cryptographic currency goes back to Satoshi Nakamoto and a white paper he wrote. Since the name is a pseudonym, it is not yet clear whether an individual or a team of programmers is behind the development of the idea.

The first 50 cryptocurrencies were “created” in January 2009, bitcoin is considered the oldest digital currency in the world. To date, the cryptocurrency has the highest market capitalization and the largest trading volume of all Internet currencies.

However, more than 2,100 other Internet currencies (as of March 2019) have developed with an estimated total market capitalization of about 131 billion US dollars. In addition to Bitcoin (BTC, XBT), the most well-known coins or tokens include:

Ethereum or Ether (ETH)
Ripple (XRP)
EOS (EOS)
Litecoin (LTC)
Bitcoin Cash (BCH)
Tether (USDT)

How cryptocurrencies work

The basis of bitcoin is the so-called blockchain, open-source software that works with a continuously expandable list of tamper-proof data sets. They are connected to complex data sequences in the form of successive blocks, making them almost tamper-proof.

A special feature of the technology is that bitcoins are generated not centrally, but decentrally using a network. Since a maximum of 21 million coins can be mined and the so-called bitcoin mining requires high computing power, value stability is guaranteed, which protects bitcoin from both counterfeiting and excessive inflation.

However, the anonymity resulting from the decentralization of the blockchain and the lack of a central supervisory and regulatory authority also gives reason to believe that cryptocurrencies are also used for opaque and illegal transactions.

Why invest in cryptocurrencies?

In addition to purely financial reasons, there are many other reasons why people invest in cryptocurrencies. In this section, we’ve compiled a small selection of the most popular reasons why people are increasingly daring to go to the crypto exchange or crypto broker in 2021.

More convenient: Cryptocurrencies can be shipped at minimum transaction costs within seconds. Popular cryptocurrencies such as Bitcoin are accepted all over the world and are already regarded in many places and can be used as a means of payment.

Anonymity: Our digital footprint is getting bigger and bigger. Man in the 21st century is as glassy as ever. Digital currencies provide some redress because the transaction between two parties does not have to be handled by a third instance such as a bank.

Support for the decentralized financial system: Many people have not only believed since the Great Depression that the traditional banking system is no longer up-to-date. Digital currencies are completely independent of central banks, which is actively supported by many people.

Profitability: If you look at the rise of bitcoin, you will quickly see how profitable some digital currencies have become today. If you enter the trade in time, you can hope for a multiple of the investment.

May 6, 2021

Cryptocurrencies for Online Sports Toto

Eija Järvinen

Crypto & Hazard

No Comments

Online gambling is very much in vogue right now just like cryptocurrencies like Bitcoin, Litecoin and others. Whether you bet on the gaming tables or speculate on the crypto exchanges, the thrill and the dream of fast money beckon here.

It is hardly surprising that more and more casinos like 토토사이트are accepting payments with cryptocurrencies.

https://www.youtube.com/watch?v=EwcnzYnlq8U

How do cryptocurrencies work in online Toto Sports?

Cryptocurrencies have not only developed quickly in terms of rates. A lot has also changed in terms of usability. Until recently, Bitcoin was reserved for technically savvy people, but today it is completely uncomplicated to open a coin wallet and purchase Bitcoins.

Anyone who deals with gambling knows that casinos have always adopted new technologies for their purposes. The first online casino, for example, opened its doors back in 1994, when the Internet was still in its infancy. The first crypto online casino is now few years old.

The Malta Gaming Authority (MGA) played a key role in the spread of cryptocurrencies in online casinos. This gambling regulator is responsible for hundreds of different casinos and officially allowed its licensees to use Bitcoin and other selected cryptocurrencies in 2018.

Since then, you can deposit and even play with crypto in many casinos with an MGA license. This payment method has a number of advantages – for example in terms of security and anonymity.

How do limitless Toto casinos treat cryptocurrencies?

A casino provider without a limit can decide much more freely which payment options they want to offer. Therefore, cryptocurrencies are also being accepted more and more often in order to make it even easier and more convenient for players to deposit funds. Depending on the provider, the deposit is either converted into dollars or you can play with Bitcoin directly in the casino.

Of course, you never really remain anonymous in these online casinos, even with crypto, as the operators still have to determine the identity of the players. This is due to the strict money laundering regulations that these providers have to meet. At least the operator always knows who is playing with him. Nevertheless, cryptocurrencies offer a high level of security. For example, a payout is only possible back to your own coin wallet. This makes theft or fraud extremely difficult.

March 27, 2021

Why Should You Avoid Investing In Bitcoin?

Eija Järvinen

Crypto & Hazard, Cryptocurrency

No Comments

The value of digital currencies such as bitcoin and ethereum is shooting through the roof. You could just buy a pizza for a few bitcoins in 2007, now a bitcoin is already worth 2300 euros. The first crypto millionaires have already been born. Enough reason to put your savings into these digital coins, or not?

Web developer Menno Pietersen invests in various digital currencies and can almost make a living from them. “I’m not yet a crypto-millionaire, but I make more money with it than with my own company,” he says. Menno explains that it can be very lucrative to trade bitcoin or ethereum. “The chance of a loss is great, but so is the chance of a profit. I’ve had a return of 1600 percent.” Just compared to a savings account: you have to be happy with a 0.5 percent return.

Very risky
Investing in crypto coins carries a lot of risks, says Menno. “But if you have a thousand dollars to lose, why not? Savings don’t pay off. This market is exploding.” Lars Eckardt can talk about that bitcoin explodes. “I had bought a bitcoin for 42 euros. It would now be worth about 2300 euros.” Until he lost the key. He lost access to his bitcoins when he emptied his phone without backing it up. “The bitcoin keys that I still have don’t work. I find it very tricky. You only need to do something, and you have lost everything.” He immediately quit bitcoin.

Even the bank
Because that is the danger of crypto coins: there is no regulator and no intermediary. You are entirely responsible for the management of your digital money and for the payment with it. If you send your money to the wrong one, there is no one who can get it back. If you have decided to buy crypto coins, then you want to make money with them. For that, you have to go to a bitcoin exchange. That comes with its own risks. The most obvious is that the value of your currency can fluctuate very widely. “One day a coin can drop as much as 20 or 30 percent,” explains Menno.

Hack? Money gone
But another big danger: hacks. “It is very important that you do not leave your money on this exchange. If it is hacked, you will lose everything”, Menno explains. His tip: always get your money back to your wallet when you are finished. Randal Peelen lost money in such a hack. He had 3 bitcoins (now worth $ 6,400) on the Mt. Gox. It was hacked in 2014 and declared bankrupt shortly afterward. During the hack, 850,000 bitcoins were stolen by the hackers. “I had all my coins there. When I wanted to deposit a thousand euros into my own account, it didn’t arrive.” Despite the fact that Randal lost his Bitcoins, he continues to see it as a good investment. “I’m like: it is not impossible that bitcoin will be worth a hundred thousand euros. It is not impossible that it will be worth zero. There will only be 21 million bitcoin in the history of mankind. So it will by definition become worth more. The supply cannot increase, but the demand is increasing.” Due to the many risks, the Netherlands Authority for the Financial Markets advises against consumers diving into crypto coins. But do you want it anyway? Then do it wisely. Before converting your savings into bitcoin, both the AFM and Menno recommend that you read carefully. “And never invest more money than you are willing to lose,” adds Menno. “Getting in now is very risky. There are a bitcoin and ethereum bubble. It is going to burst. If you invest, you spread opportunities and buy a few smaller crypto coins in addition to bitcoin and ethereum.”

February 20, 2021

Trading cryptocurrencies: Opportunity and risk

Eija Järvinen

Crypto & Hazard

No Comments

In addition to the chances of high profits, crypto trading also entails major risks, in particular, due to a lack of regulation and the fact that numerous critics are currently pointing out that a speculative bubble has already formed.

Online gambling like judi bola can also provide high profits but involves risks as well.

High volatility in the cryptocurrency market

First of all, there is one thing that must be stated in an unbiased way: the market for cryptocurrencies, such as Bitcoin, Ethereum or Litecoin, is extremely volatile. This has been shown several times in the past few years because Bitcoin alone was subject to large fluctuations.

What looks like a relatively uniform development in the form of a steady upward trend, however, has shown itself completely different in detail.

What chances do Bitcoins and others have from a fundamental point of view?

When it comes to assessing the opportunities and risks of Bitcoins and other cryptocurrencies, a crucial question is what, from a fundamental point of view, actually speaks for good chances that the value of cryptocurrencies will continue to rise. In fact, from a fundamental point of view, the fact that Bitcoin and other digital currencies could become much more popular as a means of payment could give a significant boost to further price increases. Originally, the original goal of Bitcoin and the other cryptocurrencies is to act as an alternative to central bank money and thus represent a means of payment on the market.

What are the risks when trading cryptocurrencies?

When trading cryptocurrencies, the main risk for every actor is of course that the value of the individual coin falls and the invested capital results in losses. A total loss is rather unlikely, especially in the case of cryptocurrencies with a very large market volume, but capital losses of 10, 30 or more than 50 percent cannot be ruled out. In addition to the general price risk, there are still some negative aspects that ultimately count among the risks of speculating with cryptocurrencies, such as:

Possible speculative bubble
No regulation
Any security gaps

It should be noted that trading in cryptocurrencies brings great opportunities for further price increases and thus profits. On the other hand, there are also significant risks, so trading digital currencies is definitely pure speculation.