XRP (CRYPTO:XRP) Price Down 3.6% Over Last Week

One XRP coin can now be bought for $0.32 or 0.00008832 BTC on popular … XRP’s official Twitter account is @Ripple and its Facebook page is …

XRP logoXRP (CURRENCY:XRP) traded 1% lower against the U.S. dollar during the one day period ending at 20:00 PM Eastern on January 16th. XRP has a total market capitalization of $12.98 billion and $377.65 million worth of XRP was traded on exchanges in the last 24 hours. During the last week, XRP has traded down 3.6% against the U.S. dollar. One XRP coin can now be bought for $0.32 or 0.00008832 BTC on popular cryptocurrency exchanges including Upbit, Bitso, Poloniex and Bits Blockchain.

Here is how other cryptocurrencies have performed during the last 24 hours:

  • Tether (USDT) traded up 0.2% against the dollar and now trades at $1.01 or 0.00028219 BTC.
  • Stellar (XLM) traded down 1.5% against the dollar and now trades at $0.10 or 0.00002851 BTC.
  • TRON (TRX) traded 0.7% higher against the dollar and now trades at $0.0264 or 0.00000737 BTC.
  • Bitcoin SV (BSV) traded down 0.5% against the dollar and now trades at $75.43 or 0.02105550 BTC.
  • Binance Coin (BNB) traded down 0.3% against the dollar and now trades at $6.50 or 0.00181232 BTC.
  • NEO (NEO) traded 1.8% lower against the dollar and now trades at $7.58 or 0.00211342 BTC.
  • VeChain (VET) traded down 2.8% against the dollar and now trades at $0.0044 or 0.00000122 BTC.
  • TrueUSD (TUSD) traded up 0.3% against the dollar and now trades at $1.01 or 0.00028224 BTC.
  • 0x (ZRX) traded 7.3% higher against the dollar and now trades at $0.31 or 0.00008602 BTC.
  • Zilliqa (ZIL) traded 4.5% lower against the dollar and now trades at $0.0217 or 0.00000606 BTC.

XRP Profile

XRP was first traded on February 2nd, 2013. XRP’s total supply is 99,991,724,864 coins and its circulating supply is 41,040,405,095 coins. XRP’s official website is ripple.com/xrp. XRP’s official Twitter account is @Ripple and its Facebook page is accessible here. The Reddit community for XRP is /r/ripple and the currency’s Github account can be viewed here. XRP’s official message board is www.xrpchat.com.

According to CryptoCompare, “The Ledger and ConsensusThe Ripple protocol is, at its core, a shared public database. This database includes a ledger, which serves to track accounts and the balances associated with them. The ledger is a distributed database — a perfect, shared record of accounts, balances, and transactions in the Ripple protocol. It is continually and automatically updated by the Ripple Transaction Protocol (RTXP) so that an identical ledger exists on thousands of servers around the world. At any time, anybody can review the ledger and see a record of all activity on the Ripple protocol. When changes are made to the ledger, computers connected to the Ripple protocol will mutually agree to the changes via a process called consensus. The Ripple protocol reaches consensus globally within seconds of a change being made. The consensus finding process is the engineering breakthrough that allows for fast, secure, and decentralized transaction settlement on the Ripple protocol. The World’s First Distributed ExchangeNo one owns or controls the Ripple protocol. It runs on computers around the world, all working together to continually maintain a perfect, shared record of accounts, balances, and transactions. Distributed networks offer many efficiencies over centralized networks. Because the network is “self-clearing”, it eliminates the need for a centralized network operator (and gets rid of the associated layer of fees). Because there is no single point of failure, distributed networks are more reliable. They also tend to be more secure, due to their open source nature.”

XRP Coin Trading

XRP can be purchased on these cryptocurrency exchanges: Bits Blockchain, OKEx, Stellar Decentralized Exchange, Cryptohub, Coinone, FCoin, ABCC, CoinEgg, DigiFinex, Fatbtc, Altcoin Trader, BTC Markets, Bitfinex, Binance, Poloniex, Vebitcoin, CEX.IO, Coinrail, OTCBTC, Independent Reserve, Instant Bitex, Coinbe, Liquid, BCEX, Upbit, MBAex, LiteBit.eu, Huobi, Bitstamp (Ripple Gateway), Bitbns, CoinFalcon, Gate.io, Covesting, Stellarport, ZB.COM, Bitinka, Tripe Dice Exchange, GOPAX, LakeBTC, BtcTurk, Cryptomate, BitFlip, Exmo, BitMarket, Bitsane, Zebpay, BX Thailand, HitBTC, Coinhub, BTC Trade UA, RippleFox, CoinBene, Kuna, Indodax, Bitlish, OpenLedger DEX, Bitstamp, Korbit, Bitso, Exrates, WazirX, Coindeal, Koinex, Coinsquare, Bitbank, DragonEX, Braziliex, B2BX, C2CX, Gatehub, Bittrex, Sistemkoin, Coinsuper, Kraken, BitBay, Ovis, Bithumb, Koineks and Ripple China. It is usually not presently possible to buy alternative cryptocurrencies such as XRP directly using US dollars. Investors seeking to acquire XRP should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Coinbase, Changelly or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to buy XRP using one of the exchanges listed above.

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South Korea’s Largest Bitcoin Exchange May Go Public on US Stock Market, Will Anyone Care?

No, Silicon Valley darling and cryptocurrency unicorn Coinbase hasn’t decided to go public, but Bithumb — the largest bitcoin exchange in South …
bithumb bitcoin crypto exchange south koreabithumb bitcoin crypto exchange south korea
US investors may soon be able to purchase shares in the company that owns South Korean bitcoin exchange Bithumb. But should they? | Source: REUTERS/Kim Hong-Ji/File Photo

By CCN.com: US investors may soon be able to invest in one of the world’s largest bitcoin exchanges following its listing on the over-the-counter (OTC) US stock market.

No, Silicon Valley darling and cryptocurrency unicorn Coinbase hasn’t decided to go public, but Bithumb — the largest bitcoin exchange in South Korea and one of the world’s highest-volume crypto trading platforms — could soon find its shares available to retail and institutional investors alike, albeit in a nontraditional way.

Bithumb Will Use Reverse Merger to List Shares in US

According to documents filed with the Securities and Exchange Commission (SEC), US holding company Blockchain Industries has signed a “binding letter of intent” to merge with BTHMB, the Singaporean company that controls Bithumb.

From the announcement:

On January 16, 2019, Blockchain Industries, Inc. (the “Company”) entered into a binding letter of intent (the “Letter of Intent”) with BTHMB Holdings Pte. Ltd., a Singapore corporation (“BTHMB”). The Letter of Intent provides that the Company and BTHMB will negotiate the terms of a certain stock purchase whereby the Seller shall sell that certain number of shares of the Company’s Common Stock (the “Sale Shares”) representing a super majority of the Company’s outstanding shares of Common Stock. At the consummation of the transaction, the Company shall become a subsidiary of BTHMB.

South Korea bitcoin cryptocurrencySouth Korea bitcoin cryptocurrency
The proposed reverse merge would allow US investors to purchase shares in the company behind South Korea’s most prominent cryptocurrency exchange. | Source: Shutterstock

The move will see the new entity — dubbed Blockchain Exchange Alliance (BXA) — listed on an OTC market in the US, where its shares will be publicly-quoted. In short, Bithumb will use the “reverse merger” to go public with less scrutiny and red tape than accompanies an ordinary public listing, much as the Mike Novogratz-led Galaxy Digital did in Canada.

“We are thrilled to be part of this important initiative that is expected to bring liquidity, accessibility and expansion to the blockchain industry,” said Patrick Moynihan, CEO of Blockchain Industries. “By working with BXA, we expect to bring more advanced technology and better compliance practices into the public marketplace via a consolidated focus.”

“BXA is a global exchange alliance and the United States is a key factor to any global initiative,” said Byung Gun Kim, CEO of BXA.

By unifying our businesses, we benefit from the focused expertise of Blockchain Industries. As a result, we have tremendous growth opportunities in this region, and we expect quality results from this in North America.

It’s not clear how much BXA shares will be worth once they begin trading on the OTC market. Last October, Kim’s company purchased a 50 percent plus one stake in Bithumb for around $350 million. Since then, the bitcoin price has declined another 45 percent, though global trading volumes have seen a moderate uptick.

Bithumb Wanted to IPO But Didn’t Want to Wait

Per anonymous sources cited by CNBC, Bithumb had wanted to hold a traditional initial public offering (IPO) in Singapore but was too impatient to wait the one or two years the listing process would take.

The reverse merger, in contrast, will provide the company with immediate liquidity in the OTC market, as well as the opportunity, in the future, to fulfill the requirements necessary to list its shares on the New York Stock Exchange (NYSE) or Nasdaq.

However, regulators may have serious questions about Blockchain Exchange Alliance’s plans to allow US retail investors to invest in Bithumb, given that the South Korean trading platform was one of a number of exchanges to suffer hack-related thefts in 2018. Though the $31 million in stolen funds was relatively minor compared to the $530 million hack suffered by Coincheck, Bithumb’s June 2018 breach raised questions about its security policies.

Bithumb has also faced allegations of inflating its reported trading volumes. Last December, a research firm called CryptoExchangeRanks published a report concluding that the firm’s reported volumes are highly irregular, with an unusually large number of trades clustering around the same time period every day.

Bitcoin Exchanges Finally Feel Pinch of Bear Market

bitcoin pricebitcoin price
Cryptocurrency exchanges, once impervious to the bitcoin price decline, have begun to sweat a bit in 2019.

Exchanges were the segment of the cryptocurrency industry that seemed most impervious to the bear market since they could make money whether the bitcoin price was going up or down. However, the duration of the downturn has caused daily trading volumes to plunge, forcing even crypto exchanges to think more carefully about their bottom lines.

On Tuesday, CCN reported that Huobi — another of the world’s largest bitcoin exchanges — had confirmed that it had laid off around 100 employees as declining trading volumes threatened profit margins. CEO Weng Xiaoqi stressed that the company remains profitable right now but said that he doesn’t “know how long the bear market will last, so it is still possible that we will struggle to survive.” Huobi, he said, must “plan in advance and spend money carefully.”

Nexon Deal Would Net Tencent Two Crypto Exchanges

tencent nexon nxc bitcoin exchangetencent nexon nxc bitcoin exchange
Chinese gaming giant Tencent could acquire Nexon, which owns multiple bitcoin exchanges. | Source: REUTERS/Kim Kyung-Hoon/File Photo

Notably, Bithumb isn’t the only cryptocurrency exchange whose parent company’s shares could soon be available to US investors.

As CCN reported, Chinese tech conglomerate Tencent is actively considering a bid for NXC Corp., the South Korean holding company that controls Asian gaming giant Nexon. Through its subsidiaries, NXC owns majority stakes in two cryptocurrency exchanges, the Korea-based Upbit and European trading platform Bitstamp, which is also the world’s oldest bitcoin exchange.

Those exchanges would comprise a minuscule portion of Tencent’s nearly $400 billion valuation, but the potential purchase would nevertheless provide investors with low-risk exposure to the cryptocurrency industry.

Do Investors Still Want to Invest in a Crypto Exchange?

Given the hype surrounding Long Blockchain, Riot Blockchain, and other public companies that made dubious blockchain rebrands in late 2017, the report that a major cryptocurrency exchange was going public in the US would have set the market on fire during the historic crypto bull run, perhaps carrying the bitcoin price even further then its current all-time high near $20,000.

However, 13 months into Crypto Winter, is anyone even going to care?

Featured Image from REUTERS / Kim Hong-Ji. Price Charts from TradingView.

How to Invest in Bitcoin: Complete Beginner’s Guide

Bitcoin’s arrival into the mainstream was accompanied by massive evaluations of altcoins, a short-lived ICO craze, and many misunderstandings about …

Bitcoin’s arrival into the mainstream was accompanied by massive evaluations of altcoins, a short-lived ICO craze, and many misunderstandings about the vision and potential of Bitcoin. Over the last year, numerous developments have unfolded that give more access to investing in Bitcoin and interacting with the legacy cryptocurrency than ever before.

While access to Bitcoin is still far from being ideal, options for investing in it are significantly greater than they were only several years ago. From the proliferation of exchanges to alternative means of acquiring it, evaluating various ways to invest in Bitcoin is worth your time and effort.

How to Invest in Bitcoin

Bitcoin Price & Market

Bitcoin’s price has been volatile since its inception. Starting from the first purchase of a good or service using 10,000 bitcoins to buy a pizza, Bitcoin’s value has been a rollercoaster ride. Bitcoin’s price skyrocketed towards the end of 2017 and peaked at roughly $20,000 in January 2018, causing a flurry of mainstream media coverage and questions about what precisely the novel digital currency was.

Bitcoin Price Chart

You can use our Bitcoin Price Chart page to view historic prices of BTC

To the majority of the mainstream, Bitcoin’s volatility bears too much risk to invest in it, although millennials have shown a favorable disposition towards swapping their hard earned money for some Bitcoin. Following the meteoric rise in price, Bitcoin — along with the broader crypto market — has been undergoing an extended bear market, where the price currently sits around $3,600.

Investing in Bitcoin has inherent risks that investors need to be aware of before purchasing it, and you can find extensive information on the original cryptocurrency all over the web today. If you’re interested in Bitcoin, the prudent approach is to do your own research and discover whether or not you are willing to enter an emerging market of digital assets that has no precedent. Making small investments is a great way to start and learn about how to interact with wallets without overexposing yourself to the market’s volatility.

If you’re looking to invest in cryptocurrencies in general, choosing Bitcoin should be your first option. Its robustness is unparalleled in the industry and is one of its greatest, if not its cardinal, strength.

The general narrative around Bitcoin that has been molded over the years is that of ‘digital gold,’ where its predetermined issuance rate — controlled by its mining difficulty adjustment and decentralized network — provides significant advantages over fiat currencies in knowing that your investment will not be diluted through arbitrary inflation.

If you’re a newcomer to the Bitcoin and cryptocurrency space, seeking monetary refuge from hyper-inflationary economies, or an advanced user who believes in the ideological aspects of Bitcoin, there are several areas that you need to evaluate when investing in Bitcoin.

What is Bitcoin? Complete Guide

Take a look at our Complete Guide to Bitcoin if you need a primer on the History

Long-term Investing or “Hodling”

Many long-term ‘hodlers’ view Bitcoin as the hardest money available, and choose to store large amounts of their earnings in the cryptocurrency. Doing so presents risks, but from their perspective, it is one of the greatest investment opportunities in history and a legitimate means of value storage and transfer outside of the traditional financial world.

Their belief in Bitcoin as digital gold with a high stock-to-flow ratio is well-founded, and advances like Bitcoin’s LN may eventually enable the network to scale as the P2P digital cash originally envisioned by Satoshi Nakamoto.

Bitcoin Wallets

If you’re looking to store Bitcoin as a long-term investment, the best method to safeguard your coins is using a cold storage hardware wallet. Popular cold storage wallet brands include Trezor and Ledger, and they also offer support for other cryptocurrencies. Cold storage can even be beefed up with multisig services like Casa where signatures from multiple physical devices are required to unlock your stored Bitcoin.

Full Bitcoin clients are also viable means for long-term storage of bitcoins, but not as secure as cold wallet solutions. Besides purely investing in Bitcoin, you can support the decentralization and connectivity of the network by running a full node, which incorporates yourself into the Bitcoin core protocol that stores the entire blockchain.

Short-term holders who are looking to invest in Bitcoin in small amounts out of curiosity or for experimenting with sending/receiving it can opt to use hot and custodial wallets. Third-parties control these wallets, so they are not ideal for security assurances, but are convenient to use and offer excellent user-interfaces for using Bitcoin. Popular custodial wallets include Blockchain Wallet, Copay and BreadWallet.

Bitcoin Paper Wallets

Read our Complete Guide to Bitcoin Wallets for More information

Mining Bitcoin

In the early days of Bitcoin, users could mine Bitcoin on laptops and desktop computers, earning copious amounts of Bitcoin at drastically lower values than what they are today. As such, early mining in Bitcoin turned out to be one of the most lucrative investments ever. However, mining has evolved into a giant industry, where outsized companies like Bitmain and large mining pools like F2Pool and BTC.com dominate the market.

ASIC miners are really the only feasible way to mine Bitcoin today, and hosting your own ASIC rig is a serious investment that requires hardware costs, operating time and electricity. Further, small, independent miners using home-based rigs often have to operate at losses during extended depreciations of Bitcoin’s spot price as profit margins are diminished. However, if you wish to try your hand at Bitcoin mining, there are numerous tutorials for discerning which hardware and software suit your needs and budget.

Cloud mining services also enable users to purchase contracts for ASIC mining rigs within extensive mining warehouses that are operated by a third-party mining company. These companies offer regular returns based on your investment and can be convenient if you wish to earn Bitcoins through mining but do not want to go through the hassle of setting up your own rig. Hashflare and Genesis mining are two popular cloud mining services.

Bitcoin’ mining market is a fascinating component of its broader ecosystem, and adequately understanding how it works, as well as watching its future development is vital to comprehending the legacy cryptocurrency’s larger economics.

Bitcoin Mining Software

Read our guide to the Best Bitcoin Mining Software

Exchanges for Investing in Bitcoin

Exchanges are the most straightforward and popular method for acquiring Bitcoin. There are well over 100 operational Bitcoin exchanges worldwide, but steering clear of exchanges that are known for wash trading and sticking with major reputable exchanges is the most prudent move.

There are several types of exchanges in the cryptocurrency market, including centralized exchanges, decentralized exchanges (DEXs), P2P marketplaces, crypto-to-crypto exchanges, and fiat-to-crypto on-ramps. Adequately understanding the advantages and disadvantages of each is crucial.

Buying Bitcoin with Fiat Currency

First, the difference between crypto-to-crypto and fiat-to-crypto exchanges stems from their regulatory jurisdictions and whether or not they can offer direct trading pairs of Bitcoin with fiat currencies. Coinbase is the most popular fiat-to-crypto on-ramp in the U.S. and requires that users go through regulated KYC/AML processes.

Further, exchanges like Coinbase are centralized and custodial platforms, meaning that when your bitcoins are stored on the platform, they are technically not yours as they can be frozen like with a bank account. Other popular fiat-to-crypto exchanges include Kraken, Gemini, BitMEX (not available to U.S. customers), and Bitstamp.

Exchange Reviews

How to Buy Bitcoin Instantly using a Credit or Debit Card

Read our guide on How to Buy Bitcoin with Debit or Credit Card

Crypto to Crypto Exchanges

Crypto-to-crypto exchanges solely offer trading in and out of different cryptocurrencies, with prices of altcoins pegged to Bitcoin or stablecoins like Tether or USDC. These exchanges have been referred to as ‘altcoin casinos’ as they are essentially gambling on price swings of many of the more obscure altcoins available. However, these exchanges sometimes offer excellent trading experiences and can be used to access other cryptocurrencies widely not available on fiat on-ramps. Binance is one the leading cryptocurrency exchanges in the world and is a centralized crypto-to-crypto platform.

Crypto to Crypto Exchange Reviews

Decentralized Exchanges

The differences between centralized and decentralized exchanges are essential for several reasons. First, centralized exchanges have custody over your Bitcoin, just as a bank retains custody over your fiat funds. Second, these exchanges are prone to targeting by hackers, and the sheer scale of hacks on exchanges in 2018 was astounding. It is best practice never to store your Bitcoin on an exchange, even a decentralized one.

Conversely, DEXs are useful for direct exchanges between counterparties, without an intermediary. They do not take custody of funds and also do not require KYC/AML processes for users. Unfortunately, many DEXs do not have enough trading volume to be as liquid as their centralized counterparts, and recent directives by the SEC towards EtherDelta may discourage operators from continually running DEXs outside of legal jurisdictions. Moreover, most DEXs only enable trading between Ether and altcoins that are ERC-20 compatible, not offering Bitcoin functionality. The future growth of atomic swaps should help expand Bitcoin’s prevalence among DEXs, however.

Dex Reviews

Marketplace Exchanges

Other decentralized options for trading Bitcoin for fiat or altcoins include P2P marketplaces such as Bisq, Paxful, HodlHodl, and OpenBazaar. OpenBazaar and Bisq are open-source marketplaces without registration and an emphasis on privacy and security. OpenBazaar also enables users to set up e-commerce stores for listing physical and digital goods/services with payments directly between counterparties in crypto. HodlHodl even offers TESTNET trading without risking actual money.

Volumes on decentralized marketplaces are substantially lower than their centralized counterparts, but they are rapidly gaining traction among privacy proponents and users seeking better security assurances. Similarly, Bitcoin volume metrics sites like CoinDance indicate that decentralized exchange platforms are growing in use in countries with problematic inflation and economic conditions, especially Venezuela.

These platforms offer censorship-resistant avenues for citizens in countries like Venezuela to buy into crypto and fiat currencies that are much more stable than their local currencies.

Alternative Methods for Increased Access Around the World

Access to investing in Bitcoin has never been more abundant, but there are still significant strides that need to be made for access to reach its ideal levels that support a global, decentralized value system. In particular, the primary avenues for acquiring Bitcoin with fiat currencies — through centralized exchanges — are tightly regulated and subject to KYC/AML processes. Decentralized exchanges simply don’t have the volumes or widespread popularity to rival centralized exchanges at the moment.

Most investors in Bitcoin reside in countries where Bitcoin is more of a speculative investment or part of a professional focus rather than stemming from direct needs for an alternative medium of value. In countries like Venezuela, Zimbabwe, and Argentina, the situation for investing in Bitcoin hinges more on a legitimate need to seek alternative currencies due to adverse economic conditions.

Increasing access to such areas of the world is an important initiative, and several developments may broaden access outside of solely the proliferation of decentralized marketplaces.

Bitcoin ATMs

Bitcoin ATMs are one avenue to grant easier access in localities, often available in convenience stores and supermarkets. According to CoinATMRadar, there are more than 4,200 crypto ATMs in the world, dispersed over 76 countries. Leading crypto ATM manufacturers include Genesis Coin and General Bytes. Many ATM services also offer bi-directional buying/selling of cryptocurrencies for fiat currencies. You can even buy Bitcoin at Coinstar machines in select locations in the U.S. now. However, the regulatory frameworks for these services are complicated, and unclear in the U.S. at this point due to cross-state money transmission laws.

Other alternative means for investing in and using Bitcoin include emerging projects focusing on Bitcoin vouchers and credit sticks. Azte.Co — a Bitcoin voucher service — enables people to buy Bitcoin at convenience stores in cash or with debit/credit cards using the Azteco voucher. You can top up a Bitcoin account by simply using the Azteco voucher like you would for topping up a phone, and the details are available on their website.

Other Methods

Similarly, OpenDime is a service where users can physically exchange Bitcoin credit sticks. The credit sticks are secure USB sticks that contain the private key within the device itself. Such functionality enables Bitcoin to be transferred between parties locally with assurances that the private key is not compromised as long as the stick is sealed. Users can even pass around the stick multiple times. OpenDime has some intriguing long-term implications, and its emergence in economies with weak economic conditions will be something to watch closely.

Financial instruments using cryptocurrencies are also on the rise, with services like Celsius Network and BlockFi permitting users to take out loans with their crypto holdings as the underlying collateral. Moreover, lenders on Celsius Network can earn interest through their P2P lending pool that is paid by the borrowers, paid out directly in the crypto that their deposit was made in, including Bitcoin.

Lightning Network

More advanced Bitcoin users who are familiar with its second layer — the Lightning Network — also have the future potential to earn BTC through relay fees and watchtowers. Watchtowers are services that monitor the Bitcoin blockchain for their clients to identify transaction breaches on the LN and issue penalty transactions. Relay fees can be acquired by LN nodes that connect to numerous peers and help route payments through the mesh network for users who are not directly connected with a channel to a party they wish to exchange BTC with. These developments are still in their very early stages, but they offer useful mechanisms for users willing to provide services to LN users to accumulate BTC in fees.

Spending Bitcoin

Numerous avenues for merchants to accept Bitcoin as payment are also available, including Coinbase Commerce that is integrated with major e-commerce platforms like Shopify and WooCommerce. Merchants can opt to retain their BTC as an investment or exchange it directly for fiat.

Open-source projects like Lightning Charge — part of Blockstream’s Elements — are also available for merchants to accept LN BTC payments using a drop-in solution. The LN’s huge design space and its rising number of applications should also further help the network to grow as a means of payment for online purchases over the coming years.

Other more obscure methods for acquiring Bitcoin include Bitcoin puzzles. Bitcoin puzzles are digital art that individuals post to the Internet which contain the private keys to access bitcoins that are locked as the reward for solving the puzzle. They are not exceedingly prevalent, but some of the rewards have been highly lucrative, including a $2 million prize for a puzzle containing 310 BTC late last year.

Traditional Financial Instruments for Investing

Outside of the emerging alternatives for investing in Bitcoin, the convergence of traditional finance and blockchains is also set to create more opportunities for increased exposure to the asset.

Bitcoin ETFs

Bitcoin ETF proposals have been denied by the SEC several times already, but some key decisions are coming up — specifically the VanEck-SolidX Bitcoin ETF proposal decision that was pushed to February. ETFs are investment vehicles for individual or groups of assets that enable investors to speculate on the market price without having to actually own the asset. Bitcoin ETFs would allow more mainstream investors to access Bitcoin through investing in an ETF that is on a regulated exchange without having to purchase Bitcoin directly from a crypto exchange.

Bitcoin ETF

Read our complete guide – What is a Bitcoin ETF?

Bitcoin Futures

Similarly, Bitcoin futures are already available, and investors can long or short the legacy cryptocurrency on regulated futures exchanges, including CBOE and the CME. Bitcoin futures and ETFs are excellent ways for mainstream investors to speculate on the price of Bitcoin while reducing their direct interaction with the cryptocurrency, which often requires technical knowledge to store and use securely.

Increasing regulation of Bitcoin in developed countries is likely to continue at an accelerated pace, and open up broader access to investors hesitant to touch the cryptocurrency using alternative means or unregulated exchanges. Conversely, the hesitation of many other countries to adopt regulatory frameworks for digital assets indicates that alternative means of investing in Bitcoin need to garner more widespread adoption to circumvent any censorship of access to the asset.

Proposals for Bitcoin and other digital asset trading on regulated platforms are already underway in several countries, including Thailand’s TSE which would become one of the first platforms to offer digital asset trading on a major regulated exchange. Eventually, Bitcoin should be offered side-by-side with other conventional financial instruments including CFDs, derivatives, futures, and multiple fiat currency trading pairs on comprehensive platforms.

Binary Options & Contracts for Difference

A large number of brokers now offer Binary Options and Contracts for Difference on a range of Cryptocurrencies, including Bitcoin. If you have traded using one of these types of broker before, you can also use them to trade Bitcoin. The difference between these and a typical exchange is that you do not own the underlying asset, you are merely trading based on price differences.

We have reviewed a lot of brokers here on Blockonomi:

Broker Reviews


Looking back at Bitcoin’s humble origins reveals just how far the cryptocurrency has come. Access for investing in Bitcoin has never been better, and although it comes with inherent risks and a high-barrier to entry, it is slowly cementing itself as a viable means of value transfer and storage outside of the traditional financial realm.

Investing in Bitcoin always requires that you do your own research, and prudently evaluating your options for acquiring it based on your situation will allow you to make the optimal choice for joining a growing community of users, businesses, investors, and developers.

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China: Gaming giant Tencent may acquire parent company of Bitstamp, Korbit Crypto Exchanges

The company bought a stake in Bitstamp in 2018, took over ownership of Korbit in 2017, and owns soul license to operate Dungeon & Fighter in China …

The Chinese gaming giant, Tencent Holdings Ltd. is contemplating a bid for the gaming company in South Korea that hold Nexon, reported Reuters. The company is not only considering a deal but also making the company private.

According to the publication, the founder of the South Korean company, Kim Jung-ju is also planning to sell a controlling 98.64% stake in NXC Corp, Nexon’s holding firm. The 98.64% stake is held by Jung-ju himself and other related parties including his wife, as per the Korea Economic Daily. The stake is worth between $7.1 billion and $8.9 billion.

According to the sources of Reuters, Deutsche Bank and Morgan Stanley are running the sale, however, the two denied to comment. Goldman Sachs is chosen by Tencent to be its adviser, and other potential bidders as per reports are, KKR & Co Inc, TPG Capital, Calyle Group, and MBK Partners.

Nexon has developed more than 80 live games in over 190 countries since it was founded in 1994. The hit games of the company include IP-franchise like MapleStory, Dungeon & Fighter, Sudden Attack, and KartRider. The company bought a stake in Bitstamp in 2018, took over ownership of Korbit in 2017, and owns soul license to operate Dungeon & Fighter in China.

The growing criticism of video games for being violent and causing problems like myopia and addiction among young users resulted in the crackdown from Chinese authorities. The authorities stopped approving titles from March to December. In this brief interval, Tencent had lost billion in its market value. The report states that even after authorities started greenlighting a limited number of games this month, Tencent’s offering is notably absent from the approval list.

However, the NXC purchase might give Tencent a foothold int he crypto-world and enable it to expand. According to a report from CCN, the famous gaming company Tencent, will be owning two major bitcoin exchanges.

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Bitcoin Cash (BCH) Trading Down 5.8% Over Last 7 Days

Bitcoin Cash (CURRENCY:BCH) traded up 0.6% against the dollar during the one day period ending at 9:00 AM Eastern on January 22nd. Bitcoin …

Bitcoin Cash logoBitcoin Cash (CURRENCY:BCH) traded up 0.6% against the dollar during the one day period ending at 9:00 AM Eastern on January 22nd. Bitcoin Cash has a market cap of $2.17 billion and approximately $207.95 million worth of Bitcoin Cash was traded on exchanges in the last 24 hours. One Bitcoin Cash coin can currently be purchased for approximately $123.68 or 0.03436983 BTC on popular exchanges including Kucoin, Buda, Bit2C and Exrates. In the last week, Bitcoin Cash has traded down 5.8% against the dollar.

Here’s how other cryptocurrencies have performed in the last 24 hours:

  • Bitcoin (BTC) traded up 0.5% against the dollar and now trades at $3,598.21 or 1.00000000 BTC.
  • Steem (STEEM) traded 4.2% higher against the dollar and now trades at $0.40 or 0.00011153 BTC.
  • Unobtanium (UNO) traded down 6.1% against the dollar and now trades at $69.33 or 0.01927495 BTC.
  • Namecoin (NMC) traded 0.7% lower against the dollar and now trades at $0.70 or 0.00019392 BTC.
  • Counterparty (XCP) traded up 6.9% against the dollar and now trades at $2.23 or 0.00062031 BTC.
  • Crown (CRW) traded down 0.2% against the dollar and now trades at $0.11 or 0.00003047 BTC.
  • CHIPS (CHIPS) traded down 0% against the dollar and now trades at $0.0430 or 0.00001200 BTC.
  • Terracoin (TRC) traded up 1.8% against the dollar and now trades at $0.0190 or 0.00000529 BTC.
  • ATBCoin (ATB) traded 0.3% lower against the dollar and now trades at $0.0085 or 0.00000237 BTC.
  • UnbreakableCoin (UNB) traded flat against the dollar and now trades at $0.11 or 0.00001757 BTC.

Bitcoin Cash Profile

BCH is a proof-of-work (PoW) coin that uses the SHA-256 hashing algorithm. It launched on August 1st, 2017. Bitcoin Cash’s total supply is 17,580,300 coins. The Reddit community for Bitcoin Cash is /r/Bitcoincash and the currency’s Github account can be viewed here. The official website for Bitcoin Cash is www.bitcoincash.org. Bitcoin Cash’s official Twitter account is @bitcolncash and its Facebook page is accessible here. Bitcoin Cash’s official message board is bitcointalk.org.

Buying and Selling Bitcoin Cash

Bitcoin Cash can be traded on the following cryptocurrency exchanges: BitBay, Cryptohub, Bitstamp, DSX, Coinsquare, Instant Bitex, Bleutrade, Coinroom, QuadrigaCX, Vebitcoin, Altcoin Trader, Crex24, YoBit, Huobi, Coinnest, Mercado Bitcoin, Poloniex, Mercatox, Coinrail, Independent Reserve, Cryptomate, Koinex, OKEx, Bitinka, Upbit, MBAex, Trade By Trade, Coindeal, Livecoin, Bittylicious, HitBTC, Koineks, BitMarket, RightBTC, OTCBTC, Ovis, CEX.IO, BigONE, Bit-Z, CoinEgg, Allcoin, Coinsuper, bitFlyer, Bitfinex, Bittrex, Graviex, Indodax, Stocks.Exchange, Bithumb, Trade Satoshi, DragonEX, Stellar Decentralized Exchange, Korbit, CoinTiger, Cobinhood, QBTC, CoinExchange, Coinone, Sistemkoin, Kuna, Bitbns, Kraken, Bisq, Zebpay, xBTCe, ACX, BiteBTC, TOPBTC, Iquant, CoinBene, ChaoEX, Tidex, CryptoBridge, CoinFalcon, EXX, Coinfloor, Exrates, BTCC, Exmo, Coinhub, B2BX, BX Thailand, Coinbase Pro, SouthXchange, Liquid, Gate.io, ZB.COM, Cryptopia, cfinex, Gatecoin, BTC Trade UA, Negocie Coins, Bitsane, WazirX, Kucoin, FCoin, Bibox, Buda, Bit2C, BTC Markets, Liqui, Zaif, Waves Decentralized Exchange, Fatbtc, HBUS, OKCoin International, GOPAX, IDCM, Coinbe, CoinEx, Bitbank, UEX, Braziliex, C2CX, BitForex, COSS, WEX, Binance, Bitso, ABCC, CPDAX, BtcTrade.im and Koinim. Investors seeking to trade Bitcoin Cash using U.S. dollars directly can do so using Coinbase, Gemini or Changelly.

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