Category Archive : Crypto

Could Cryptocurrency Ever Surpass Traditional Banking?

In the digital era, technological advancements have proven that anything is possible. With 3D printing as well as automated machinery, there are no boundaries when it comes to the capability of technology. But could new forms of online currency ever truly surpass the user of traditional currency, even with its rise in popularity? In this article, we will be looking at whether or not cryptocurrency could over truly overtake the pound. 

Cryptocurrency And Online Security 

One of the biggest factors that lead many to think Crypto could surpass traditional banking methods is the secure deposit methods. With security at the heart of the blockchain system, this has become a popular way of banking for many. With every transaction accounted for with the utmost transparency, this decentralized form of banking seems to be a popular move for many as fintech technology continues to expand. In addition, you are met with your own wallet, this allows you to keep track of the cryptocurrency you own and begin to invest wisely. 

The Affect Of Inflation

In addition to the level of security, it is also important to note the effect of inflation on traditional banking methods. Inflation can cause the prices to fluctuate substantially, however, Bitcoin and other popular cryptocurrencies remain relatively unchanged mimicking that of gold pricings. Though they can still suffer from inflation due to supply and demand, is important to note that the prices themselves do not inflate. Therefore, they lend themselves well as a replacement for traditional currency as this can provide a consistent minimum income. 

Positives To Come From Cryptocurrency Taking Over 

Though there are many that are still sceptical as to whether or not Bitcoin could ever replace traditional currency, there are a number of benefits that could come along with the mass adoption of cryptocurrencies. These can include, a more secure rate of income due to the very minimal disruption as a result of inflation. Additionally, there is also the question of security. It is important to note that any transaction made with a cryptocurrency cannot be manipulated when the transaction has been made. This is beneficial from a security perspective as it can ensure that all payments are secure. 

Additionally, each payment can be made within a couple of minutes. Fast payments can benefit businesses as it helps to increase efficiency. In addition, international payments are made quickly. Faster payment methods can benefit businesses both large and small as payments can be processed within just a few moments rather than taking a day or two. Secure deposit options such as this are an ideal way for businesses to make transfers online and is a fintech technology that many main banks and even online gaming platforms have taken advantage of. These are a benefit to you as there are secure online deposit methods available to choose from. Should it overtake traditional banking, it could be used to prevent identity fraud and hacking of financial information in the future. 

Possible Concerns Of Crypto Replacing Cash 

Crypto News | UK Crypto Exchanges 'Low Risk' for Money Laundering : FATF

Though these are all very positive in the long term, there are also some negatives that come along with cryptocurrencies replacing traditional finance options. One of which is that traditional currencies will lose their value. The mass adoption of cryptocurrency will mean that the new infrastructure will need to be developed to allow the world to adapt to the new digital currency. Though it sounds promising it is a huge change that will take years to occur, and therefore traditional currency may be worth less in the long term. 

The sudden shift from cash to online currency has the potential to leave many without an asset. Though this is unlikely it means that there are a number of financial institutions may be left scrambling to find a solution should the traditional currency be left incompatible. 

There is the bigger issue of government control over financial assets as cryptocurrencies are largely decentralized. The lack of control will affect the government as new digital currencies will be solely dependant on third party miners to regulate the control of currency rather than governmental control.  As well as this, the fluctuations on the market still leave many hesitant to invest in the long term. Thouh it can prevent cryptocurrencies from overtalking traditional finances and therefore hinder the crypto future as many optimists see it. 

With that being said, there is potential for the popularity of cryptocurrency to increase. However, it is unlikely that this will ever overtake the traditional currency,  not only due to the hesitation to invest but also the lack of government control that comes with the worldwide adoption of online currencies.

7 Best Video Games releasing in 2020

Introduction
If you are gamer then you must have heard the news that PlayStation 5
and Xbox project Scarlett console ahs announced their date to release in
2020.
What more intriguing is that 2020 is going to be a gaming hub year with
more than 200 games releasing this year.
There are not only new games but also some of the old games are
getting their sequel.
Let’s not make you wait any longer and hop on the list of the best video
games releasing in 2020.

1. Cyberpunk 2077

Platform:
 PS4
 Xbox One
 PC
I am not being wrong if I am saying that cyberpunk is one of the
most awaited games this year.
Cyberpunk is the game that is created by the creators of The
Witcher 3. This game is one of the most intense, role-playing
science-fiction game.
This game comes with huge maps, the gameplay is smooth, and
the best part of this game is that it gives futuristic visuals.

2. The legend of Zelda: Breath of the wild 2

Platform:
 Nintendo switch
Nintendo has been a great platform, launching excellent games on
after another. Nobody can predict what step Nintendo will take this

year. Will it launch a new game this year? Or it will continue with
the old game this year?
The popularity of the game “ T legend off Zelda: breath of the wild
2” has gone over the charts. This is the reason why every fan is
eagerly waiting for the next sequel.

3. Halo infinite

Platform:
 Xbox Scarlett
 Xbox One
 PC
This game was loved by many, but due to some technical issues
this game was bagged. Hoping for improvements, this game has
yet to surface again. It is considered that 2020 is the in which the
Halo infinite will regain its popularity.
It has been decided that this game will be launched alongside
Microsoft’s new project scarlet, with a new master chief in
command.

4. Ghost of Tsushima

Platform:
 Playstation 4
There are many games that are based on the PS4 but are out of
sight for many months. Ther is only two possibilities. One either
they have been transported to the newly launched PS5 or the
games are on upgrade.
One of the games that everybody is waiting for is nonother than
Ghost of Tsushima. It is an open-world game that set in the
Mongolian invasion of Japan.
In this game, you will have to take control of one of the samurai,
need to complete all the missions, stealth is utmost of importance.
If you are talking about stealthiness, you can follow the best spy
video games for a stealthier approach towards video games.

5. Diablo 4

Platform:
 PC
 Xbox one
 Play Station 4
It is getting its sequel for the fourth time. It already has a 3
predecessor sequel, each has its own uniqueness.
Diablo 4 is a mix of Diablo 2 and 3. It combines the blizzard’s
crawler dungeons of the Diablo2 and the smooth gameplay of
Diablo 3.
This game has come up with new characters having uniques skills.
It is on eof the long-awaited game this year.

6. Dragon Ball Z Kakarot

Platform:
 XBO
 PS4
 PC

Dragon Ball Z games were not that much exciting, but after a huge
success of the Dragon ball fighter Z, all other dragon ball Z games
become famous overnight.

There are many anime lovers who have grown up seeing this complete
anime (I am also one of them).
This game is published bt Bandai Namco and developed by the
developer of the naruto Shippuden series.

As the name suggests Dragon Ball fighter Z is based around the
protagonist character GOKU. In this, you can recreate all the legendary
and iconic battle that GOKU has fought. Not only that you are also free
to choose any character from the series.

7. Dying Light 2

Platform:
 XBO
 PS4
 PC
Dying light was a new sensation among gamers. The best part of this
game was that it came into the market when everybody was tired of
playing zombie games.

This game has a solid that was able to attract other gamers. It was
something new and everybody loved this game for its creative parkour
gameplay.

2020 is the year of the sequel of the Dying Light. Do you know who has
written the story of the dying light 2? It is nonother than RPG veteran
Chris Avellone. He was also the story writer of the famous game Fallout:
New Vegas, and Star Wars Jedi: Fallen Order.

This has made the gamer much more interested in this game. And are
eagerly waiting for the new changes that the game has to offer.

Take away

If you are a gaming monk and is obsessed with different kinds of games,
then you must be well aware of 2020 as the gaming year. This year
there are tons of games that are scheduled to be launched.
From action games to RPG games, 2020 has got you covered in all
aspects.

3 Ways to Minimize Your Bitcoin Taxes

If you’re like most people, you don’t enjoy the process of paying and completing your taxes every year. It’s tedious and time consuming. When the world of tax reporting is combined with bitcoin and cryptocurrency trading, this chore becomes even more painful. However, it can still pay dividends to learn the ins and outs of cryptocurrency capital gains reporting so that you can understand how to minimize your tax liability for the year. This article discusses three of the most popular ways to do so.

1. See if you can use a specific identification costing method rather than FIFO

You only need to report your crypto gains and losses on your tax return—not all of your owned crypto. You owe crypto taxes on your gains (as they are a form of income), while your losses will reduce your overall tax liability. When calculating your gains and losse for each trade, the most common approach is to use the first-in first-out method, you are selling the coins you acquired earliest first.

However, after the new IRS crypto tax guidance came out in October 2019, it clarified that specific identification costing methods outside of FIFO could be used when calculating your gains and losses for your cryptocurrency transactions provided that you had records to specifically identify your crypto. 

In using this strategy, you want to specifically identify and “sell” the cryptocurrencies that you bought at the highest price first. For anyone investing significant amounts of money, this slight change in calculations can lead to huge tax savings. Cryptocurrency tax calculators are especially good at applying these tax minimization algorithms like HIFO (Highest in first out) and LIFO (Last in first out). 

One thing to make sure of before using a specific identification method, is that you are able to actually specifically identify a unit of crypto. 

To specifically identify a unit of cryptocurrency, you must have records of the following information:

  1. The date and time each unit was acquired,
  2. Your basis and the fair market value of each unit at the time it was acquired,
  3. The date and time each unit was sold, exchanged, or otherwise disposed of, and
  4. The fair market value of each unit when sold, exchanged, or disposed of, and the amount of money or the value of property received for each unit

If you have this data for your transactions, you are able to use specific identification methods like LIFO or HIFO which can drastically lower your tax bill.

2. Invest for the long term – HODL

Similar to stocks, when you sell cryptocurrency that you’ve held for more than one year, the associated gains are taxed at the long-term capital gains tax rate, which is less than the short term capital gains rate. This incentivizes long-term investment, and it offers a great way for crypto investors to minimize their tax bill.

Take account of your cryptocurrency portfolio and look at when you first acquired each of your coins. If you have a huge capital gain in one of the assets in your portfolio, it could be wise to figure out how long you need to hold it to qualify for the long-term capital gains tax rate.

3. Move your crypto to a retirement account

Retirement accounts like IRA’s and 401-K’s are popular investment vehicles. These types of accounts come with tax incentives that can help shield profits from the tax man. By using a retirement account like a self-directed IRA to purchase cryptocurrencies, you can defer paying tax (sometimes you can even pay none at all). 

This is contrary to using a traditional cryptocurrency exchange where the income generated from selling or trading crypto is taxed during that same year. Cryptocurrency IRA’s can be an effective tax reduction tool—especially if you believe in the long term value of cryptocurrencies. 

Keep in mind that there is a deadline to open and contribute to your self-directed cryptocurrency IRA. The period in which you can make a contribution for a given tax year is from January 1 of that year until you file your tax return. Contributions cannot be made after your filing deadline (i.e., April 15 of the following year).

In conclusion

There are a lot of best practices when it comes to tax minimization. These are just a few of the options you can leverage to help reduce your overall tax liability for your crypto portfolio. It’s always important to keep as accurate of records as possible so that you can take advantage of each of these options.

JIL TOKENS Simplifies Cryptocurrency Transactions For The Non-Technical User

With the evolution of blockchain technology, cryptocurrency is becoming increasingly popular across the globe. The JIL TOKENS mission is to simplify the use of cryptocurrency and empower cryptocurrency growth. 

Every day the global economy is advancing towards the digital ecosystem and cryptocurrency has become a promising addition. Efficiency and rapid transactions are just a few features that are causing cryptocurrency to gain momentum worldwide. In order to simplify the crypto experience, JIL TOKENS offers an easy solution.

According to the official spokesperson of the company, JIL TOKENS, which is comprised of two tokens, the JILT and their main project token the J1, were developed with the aim of enabling users to buy as well as transfer cryptocurrency without unnecessary additional costs such as gas fees. The J1 token will allow individuals to use cryptocurrency in this manner. 

Through the use of blockchain technology, the main goal of the company is to offer a fast, secure, and user-friendly payment solution to users. This is the future role of the J1 token. The short definition of the J1 essentially is the tokenization of USD on the blockchain. The J1 is not like most cryptocurrency on the market because it does not have fractional value thus making its value easy to understand.  If you know how to spend an American dollar, you know how to spend a J1.

Moreover, acting as a payment solution, the J1 can help in providing an alternative to the expensive processing fees of credit cards, a bonus for merchants looking to save revenue. The J1, with its high utility uses, is destined to become a competitive payment option throughout the world. As it is accepted internationally, seamless transactions will be facilitated between merchants and consumers both online and offline. 

In addition to serving those new to the world of cryptocurrency, the maintenance of trust and a transparent relationship is a core value of the company. Trust and transparency are currently being maintained through the use of the Ethereum blockchain as their prime audit method. This ensures accountability during all transactions of their limited edition token, the JILT (JLT).

Another core value of the JIL TOKENS team is providing support to their users. Individuals who have little or no technical experience in blockchain and cryptocurrency have access to help with understanding these topics as well as with the operational process of JIL TOKENS.  The company has been successfully providing support and solutions for their users since the beginning of its online presence. 

JIL TOKENS has a team of experts who are dedicated to making the project a great success. The highly proficient team is available day or night regardless of what time zone an individual may reside in offering valuable and simple crypto solutions around the clock, thereby enabling a top-notch personalized user experience. 

About the Company:

JONES INDUSTRIES LLC was established in 2008.  Jones Industries is a holding company whose interests include cryptocurrency, book publishing, and fashion. The company has successfully developed the JILT, for fundraising purposes and liquidity for their main project, the  J1 token which enables easy transference of crypto p2p. The J1 does not possess any volatility,  is user-friendly, and is a secure payment solution. It enables new users in understanding the cryptocurrency process and gives open access to a complex ecosystem. The J1 was developed in late August 2018 with the purpose of causing worldwide mass adoption of cryptocurrency. 

Media Contact:
Name- Jil Tokens
Email- [email protected]
Website- https:/ /www.jiltokens.io/
City & Country- Ohio, United States

 

A decade of Bitcoin: Celebrating ten years of cryptocurrencies

It’s hard to believe but Bitcoin has been in the public domain for a decade now. Boy, has it been a rocky ride, but the original cryptocurrency has helped pave the way for secure, decentralised digital transactions covering all aspects of everyday life. It all started back in 2009, when the cryptographic concept of Bitcoin was unleashed into the ether by an individual or collective that went by the pseudonym of Satoshi Nakamoto.

We’ll never truly know whether Satoshi is a real person or whether Nakamoto represents a group of cryptography experts. Nevertheless, Bitcoin was unveiled to very little fanfare back in 2009, taking little time for people to take it seriously and have faith in using it as a secure, legitimate form of payment.

It was a snowball effect for Bitcoin from the moment the first real-world Bitcoin transaction was completed in May 2010. An individual used 10,000 Bitcoins to purchase two Papa John’s takeaway pizzas, with 10,000 Bitcoins thought to be worth just $40 at the time. Had that person held onto those 10,000 Bitcoins, they would have been worth $190 million at their peak value. More on that shortly.

Bitcoin managed to overcome a major hack later that summer, which almost threatened its very existence. Its reputation strengthened further in early 2011, when its value hit parity with the US dollar, pricking the ears of investors worldwide. Its value soared even faster once businesses and industries began to accept it as a genuine form of payment.

While Bitcoin’s success also encouraged the development of additional cryptocurrencies, known as altcoins, such as Ripple (2013) and Ethereum (2015), it also spawned a host of ingenuous altcoins. According to recent research by Betway into the most ridiculous altcoins, OneCoin saw the creator, Dr Ruja Ignatova, charged with wire and securities fraud, as well as money laundering through the OneCoin platform.

These failed altcoins only further served to cement Bitcoin as the number-one cryptocurrency of choice; a decentralised digital payment option that could offer security and transparency. By December 2017, Bitcoin’s value reached its all-time high of $19,783.06. A-list celebrities such as 50 Cent were rumoured to have made $8 million from a Bitcoin account he created in 2014 but forgot all about.

However, the ‘boom’ era of Bitcoin was quickly followed by a period of ‘bust’. In early 2018, Bitcoin’s value fell by as much as third overnight, sparking mass panic among investors and glee among those who called Bitcoin a ‘bubble’. Fortunately, the value of Bitcoin settled in 2019, as the regulatory climate around the world continued to embrace Bitcoin’s potential. What’s in store for Bitcoin in the next decade? Fighting off new altcoins such as Facebook’s Libra coin will be its number-one target, which could help its value scale new heights.

5 Interesting Ways You Can Make Yourself A Fortune With A Help Of Bitcoin

Cryptocurrency has enjoyed a steady growth in recent years and it seems to have infiltrated the different aspects of the lives of people that have invested in it. Many big corporations and businesses have adapted their operations in a way that allows them to integrate blockchain technology and digital currency and use it maximally. Common cryptocurrencies are Bitcoin, Ethereum, Bitcoin Cash, Ripple XRP, NEO, etc. There are many advantages that come with these digital currencies such as unparalleled transparency, 24-hr accessibility, and absolute anonymity. But like every other thing with merits, it also has its own demerits, including problems with market fluctuations, absence of security for its loss, and the fact that you might experience difficulty understanding it. However, as it stands, cryptocurrencies are not going anywhere anytime soon. The earlier you take that to heart, the faster you can learn to take advantage of it to make some money. 

To help you out, here are 5 interesting ways you can make huge money with bitcoin

Bitcoin affiliate programs 

Every industry has its affiliate program. It is a common concept among big brands and businesses especially. You refer a customer or client to them and they pay you a certain percentage as commission. Cryptocurrencies also have affiliate programs like these. 

You will naturally get paid in BTC if you join such a program. You can use your social media platforms, youtube channel, or your blog to promote bitcoin as an affiliate. Share the links, and make money with each person that buys through your link. 

If you are not a content producer and also not into paper service, which means that you don’t have a youtube channel or blog, then start sharing it with your families and friends and encourage them to share with others, post it on your social media accounts as well even if you don’t have much following. This way you will be earning bitcoin for yourself.

To join a bitcoin affiliate program, you have to open an account with a site offering the affiliate program and share your link. Examples of such sites are ByBit, which offers you a 30% commission on the revenues you generate through referral and CommissionKings, which can offer between 20-50% commissions. 

Get employed in the industry 

There is a lot more than monetary gains for you being an employee in the bitcoin industry. For a start, you are working directly with bitcoin and you have a chance to learn first-hand how to make money with it. All you need is discipline and your time. 

If you can learn how cryptocurrency works and you can bring this expertise and knowledge into the cryptocurrency industry, you can be rest assured that you will be very well sought after. 

There are many people who know next to zero about mining, crypto-economics, and blockchain technology and how they work. With your knowledge and ever-increasing demand, you can make $90,000 upwards easily, depending on your level of experience and expertise. 

The best part is that you can work remotely from any part of the world and make as much as $90,000 yearly. They may even offer to pay you bitcoin directly as payment, and that will help you learn more about making money with bitcoin. 

You can get the opportunity to work as a community manager, blockchain developer, or content writer which will require you to write blog posts, white papers, web copy and assignment help on cryptocurrency. 

Invest in bitcoin

How do we talk about making money with bitcoin and not mention investing in bitcoin, which is probably the easiest and most direct answer to the problem? 

Investing in bitcoin is basically buying the currency and keeping it. In 2009, when the exchange rate was first made, 1,309 bitcoin sold for $1. In 2011, 1BTC peaked at $32. In 2012, it peaked at $1,300. By 2017, it went as high as $19k. So, you can easily cash out on your bitcoin at points where it rises for some profit. 

It is easy when you understand the basics. 

Bitcoin lending 

This is an underutilized way to make money with bitcoin and it needs to be emphasized more. This even makes more sense if you are someone who just buys and holds. You can choose to join a site that enables you to lend the bitcoin out to others and you gain more interest from there. 

The best part is, these platforms for lending bitcoin are insured (if you find the right ones). So, even if something happens, you’re surely going to get your money bitcoin back. 

Trade bitcoin

This is a popular way people use to make money with bitcoin. It is easy to think you will definitely be rich from trading bitcoin, and there is a big possibility. But it requires serious dedication and hard work for you to make profits from trading bitcoin. 

Unlike people who just buy and hold, a trader flips the coins hoping to make profits worth hundreds and thousands daily. Trading requires an understanding of the fundamental and technical analysis, and you need to have certain trading tools as well.  

There are different strategies as well that you might employ to trade bitcoin successfully. Some of them are leverage trading or margin trading or shorting trading. It depends on your analysis of the currency. If you think it will fall, then you can use short trading, and if you think it will rise, you can use margin trading. 

Conclusion

There are a lot of ways to make money with bitcoin and these are just a few of them. Other methods are bitcoin mining, gambling with bitcoin, etc. you just need to understand how it works and go ahead with it. 

Author Bio:

Michael Gorman is a highly skilled freelance essay writer and proofreader from the UK who currently works at UK writers where he is tasked with providing assignment service with various blog posts. He has a strong interest in daily development and loves to discover new aspects of human existence every day. Feel free to contact him via Facebook or check his Twitter.