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Cryptocurrency Knowledge

Top Trends in Cryptocurrency to Follow in Late 2020

The trends in cryptocurrency are changing. It’s almost a year-end and we are come up with the latest crypto trends that are going to affect businesses soon.

People have been embracing digital currencies since the launch of Bitcoin. As they become more familiar with the crypto world, the crypto industry is also blooming up.

Every month this industry comes with more opportunities for businesses. 

Let’s get on this quickly to check out what’s new?

Expanding Crypto Payments:

As more and more people began to accept crypto, which resulted in the impact of cryptocurrency on large/small businesses.

The Investments in cryptography have soared. Now that more people are using cryptocurrencies than ever before, customers will continue to expect from more companies to accept them.

This is a trend that is now at its peak to grow, such as the big billion company Facebook is also moving into crypto spaces.

It is very vital for every business in late 2020 and beyond to stay updated in the crypto world. 

By accepting crypto payments they can take their businesses to the next level. With the growing demand of crypto users, companies will have to give another payment option for their users.

Merchants can start accepting crypto payments with the Coinremitter: crypto payment gateway, that will help the business to grow, stand out from the competition, and bring more potential users from around the globe.

Global Market Improvements:

This is considered to be one of the MOST important cryptocurrency developments in its rising adoption by the government.

For example, China has already started to work on its first digital currency. As the digital Yuan sees broader use, foreign corporations may have to adapt to the use of cryptocurrencies.

The most renowned food companies like Subway and Mcdonald’s are participating in the trial of this currency.

This national support for crypto gives the cryptocurrency incredible credibility and publicity. As a consequence, digital currencies could soon become the standard for international trade.

Cryptocurrency support would have to be embraced by businesses who want to protect their international future.

Latest Rules From the Government:

This is another major one from the recent trends in Cryptocurrency.

With the rise of cryptocurrencies, authorities have imposed NEW tax rules on cryptocurrencies and their valuation. Crypto-asset firms will have to react to these latest legislative trends.

Indeed, the SEC classifies crypto tokens as securities, but some state legislation is modifying them.

Companies may take advantage of these shifting regulations and implement crypto without significant tax disruptions. These regulations could also make crypto investment a safer choice for more companies.

Most businesses were hesitant to invest in the concerns about uncertain regulations. 

Businesses may feel more comfortable adopting crypto now that governments are taking a firmer position on the matter.

Banking with Blockchain:

As crypto has accumulated more strength, similar innovations have emerged more commonly in banking.

In order to validate transactions and handle financial data, more banks are using blockchain technology these days.

Businesses out there may encounter technology more often because of the higher popularity of blockchain banking.

Moreover, banks are explaining the benefits of blockchain to the public, so the public can embark to demand in other fields.

It could mean more security and upward mobility for crypto firms, with big players investing in crypto.

Some Vital Trends in Cryptocurrency

Consider these trends which are going to elevate businesses, as well as help grow the crypto market.

DeFi:

Defi (decentralized finance) has become one of the most popular trends in the crypto world since last year.

The companies already in the field of blockchain have launched their DeFi products.

Investors who are looking for deep liquidity, varying risk-reward ratios, and exciting, affordable advanced financial tools have a whole new world of crypto opportunities.

Because of these popular protocols like Compound, Balancer, Curve, and other platforms have opened the door for them.

The role of Ethereum in the evolution of decentralized finance is once again shifting the paradigm of the blockchain.

This could affect not only the interest levels of both retail and institutional investors; technical considerations could also be affected.

In particular, as the ecosystem migrates to Ethereum 2.0 the underlying technology is undergoing a deep transformation.

Stablecoins:

It is commonly believed that rates on fiat-based stablecoin are never relevant to the underlying currency (like the dollar).

This is just a misconception, they are linked to a fixed unit, but their market prices fluctuate around that level.

This is where the arbitrage opportunities come into play. In which investors can buy at a low cost and sell at a high price. Eventually, they earn an adequate amount of revenue.

Derivatives:

After the advent of derivatives, It has become one of the key occupations of many market seekers.

The demand for derivatives has seen the evolution from equity to commodities to currency to futures of interest rates.

Derivatives derive their meaning from the underlying value. Yet, there are times when derivatives position perception would suggest a possible trend in the underlying.

Conclusion:

These are some of the popular trends in cryptocurrency in late 2020 that businesses should consider.

Let us know which trend did you find the most prominent and will be helping the businesses in the future.

Categories
Cryptocurrency Knowledge

Which Cryptocurrencies Are Offering The Fastest Transaction Speed?

When it comes to transaction speed, each of us has experienced the fastest transaction speed with fiat currencies. However, with cryptocurrencies, you can’t expect the same.

What does transaction speed mean? 

It refers to the rate at which data transmission occurs from one person’s account to another. Moreover, the transaction speed is deemed high if a transaction gets verified immediately, within the shortest period of time.

If we talk about the current banking systems, then it will be a complete nightmare, because it takes around 4-5 days to validate the transaction. Whilst, the cryptocurrencies have the SOLUTION.

Moreover, the speed of cryptocurrencies varies, many are the slowest ones and yet they are lightning-fast compared with conventional payment portals. 

Let’s take an example, the Bitcoin transaction speed is comparatively slower among the other cryptocurrencies which are insanely faster than Bitcoin.

However, regardless of the amount size, your transaction will be verified within 60 to 85 minutes. Nevertheless, it is still faster than the traditional banking systems that take a few days.

Why is transaction speed important?

The transaction speed does matter because customers come onto the crypto platform with the expectation of fast transactions to get verified within seconds with the highest security from a particular crypto-coin.

However, merchants can list out the cryptocurrencies on their website in order to offer their customers a fast and secure checkout option.

It does not only helps the company to expand but it also extends its reach to many potential customers around the world.

So, every year developers come up with numerous new developments allowing both the speed and transaction cost on the negligible side of the continuum.

Transaction speed straight impacts the transaction cost on a network. For instance, Bitcoin has already mined 85% of its total block, so the mining difficulty is extreme and the fixed block period of 10 minutes makes it one of the most costly networks as per the present day scenario in crypto space.

On the flip side, other altcoins such as ripple have concentrated on offering blazing fast banking solutions, and a transaction time of seconds definitely helps.

Transaction speeds have been so essential for any system that many hard bends in decentralized space have been a cause for this.

List of cryptocurrencies with the fastest transaction speed

The Bitcoin handles around 5-6 transactions per second which are nowhere near to its counterpart “fiat currencies” which handles a few thousand transactions per second with a scale capability of up to 24,000 transactions per second (tps).

However, there are some of the popular cryptocurrencies that are much faster than Bitcoin and manage adequate transactions well enough.

So, here are some of the fastest crypto coins that you can consider, particularly when making payments to other parties. Moreover, faster transaction times eliminate friction from the process and make cryptocurrencies more attractive.

  1. Ripple:
    Capacity: 1500 (TPS) Transactions per second
    Reference link:
    1. https://ripple.com/xrp/
    2. https://blockchair.com/ripple
  2. DogeCoin:
    Capacity: 33 (TPS) Transactions per second
    Reference link:
    1. https://blockchair.com/dogecoin
    2.https://www.reddit.com/r/dogecoin/comments/2vvzqz/how_many_transactions_per_second_can_be_processed/
  3. Dash:
    Capacity: 56 (TPS) Transactions per second
    Reference link:
    1. https://www.dash.org/
    2. https://coinsutra.com/transaction-speeds/
  4. Monero:
    Capacity: 1700 (TPS) Transactions per second
    Reference link:
    1. https://www.daytrading.com/monero
    2. https://www.bitdegree.org/tutorials/zcash-vs-monero/
  5. Ethereum:
    Capacity: 12.91 (TPS) Transactions per second
    Reference Link:
    1. https://blockchair.com/ethereum
    2. https://coinsutra.com/transaction-speeds/
  6. Litecoin:
    Capacity: 56 (TPS) Transactions per second
    Reference Link:
    1. https://bitcoinexchangeguide.com/top-10-cryptocurrencies-with-the-fastest-transaction-speeds/
    2. https://currency.com/what-is-better-litecoin-or-bitcoin
  7. Bitcoin:
    Capacity: 3-4 (TPS) Transactions per second
    Reference Link:
    1. https://en.wikipedia.org/wiki/Bitcoin_scalability_problem
    2. https://www.snapperbuzz.com/blockchain-scalability
  8. Bitcoin Cash:
    Capacity: 116 (TPS) Transactions per second
    Reference Link:
    1. https://coinanalysis.io/how-many-transactions-per-second-bitcoin-cash
  9. Bitcoin SV:
    Capacity: 5 (TPS) Transactions per second
    Reference Link:
    1. https://medium.com/two-hop-ventures/bitcoin-sv-growing-exponentially-likely-to-permanently-overtake-ethereum-in-q1-2020-3747f42729cf
  10. EOS:
    Capacity: 4000 (TPS) Transactions per second
    Reference Link:
    1. https://cointelegraph.com/news/who-scales-it-best-inside-blockchains-ongoing-transactions-per-second-race
    2. https://thenextweb.com/hardfork/2018/11/01/eos-blockchain-benchmark/
  11. Cardano:
    Capacity: 1000 (TPS) Transactions per second
    Reference Link:
    1. https://www.crypto-news-flash.com/cardano-one-million-transactions-per-second-hydra-paper-published/
  12. Stellar:
    Capacity: 1000+ (TPS) Transactions per second
    Reference Link:
    1. https://www.lumenauts.com/blog/how-many-transactions-per-second-can-stellar-process
    2. https://medium.com/lendledger/why-lendledger-is-a-stellar-project-2403724b91d2
  13. TRON:
    Capacity: 2000 (TPS) Transactions per second
    Reference Link:
    1. https://tron.network/
    2. https://en.wikipedia.org/wiki/TRON_(cryptocurrency)

To Sum Up

Cryptocurrencies offer a much faster transaction speed than conventional payment mode.

It offers better security, speed, and convenience. Though, you can choose the cryptocurrency from this list as per your preference.

Listing these crypto coins onto your website, you can offer a secured and fast checkout system to your consumers.

This makes your business sets apart from your competitors.

Categories
Crypto Tutorials

How Do I Choose a Crypto Payment Gateway?

When Bitcoin first released, cryptocurrencies became a popular subject among everyone. Now the crypto payment gateway has been used by millions of people such as business owners, merchants, banks, etc.

Anything that serves quicker, faster, safer, and productive payments will remain a key priority for all businesses.

This is where the crypto payment gateway provider comes into the picture to offer an error-free solution.

The Best Crypto payment gateway promises security, reliability, speed, and lower transaction costs for businesses.

We’ll talk about what criteria you need to consider while choosing a crypto gateway for your business.

Let’s get started…

What is Cryptocurrency Payment Gateway?

The crypto gateways controlled by a decentralized gateway or an ecosystem of blockchains. It is a dynamic platform where more people are willing to accept digital currencies and process crypto payments.

Customers can make a payment by scanning the QR code or sending the crypto payments straight to the wallet address. However, the blockchain platform records all transactions.

Decentralized cryptocurrency gateways ensure that any transaction is encrypted, and nearly impossible for hackers or online fraudsters to modify a payment method.

For instance, coinremitter is a completely functioning global cryptocurrency payment gateway, which provides quality services to merchants, and small/large enterprise owners.

How Crypto Payment Gateway Works?

A cryptocurrency payment gateway has the primary purpose of providing a faster, secure, and hassle-free connection between vendors and consumers for easy transactions with each other.

crypto gateways work the same as the normal payment gateway, but only the difference is that transactions are done in cryptocurrencies.

With a cryptocurrency payment gateway, a customer will pay via a digital wallet, not with a credit/debit card. There will be cryptocurrencies, not fiat currencies such as USD, AUD, CAD, EURO, DINAR, etc.

When it comes to crypto, you can be sure of a proper response in less time, and also optimize transactions at any point.

Consider the Coinremitter which uses a different technology than standard gateways. It doesn’t HOLD any transaction, the received payments will automatically forward to the vendor’s external wallet addresses within the next 60 minutes.

What You Should Consider While Choosing a Crypto Payment Gateway?

It is essential for every business to first understand their business requirements and what kind of features a payment gateway has available, which not only benefits the business but also makes the business presence different from the market.

Here are some factors that you must take into account:

1. Security:

The first thing you need to look for the security of the gateway, the payment gateway you select should be completely safe for you and your customers.

The transactions should be extremely secure and confidential as the transactions happen wallet to the wallet so there will be no third party who can access your information.

As the coinremitter provides an additional two-factor authentication feature to its users that can double the protection.

2. Transaction Fees:

The second thing you need to make sure that the transaction cost should be minimal.

Do research on your own and compare the cost with different crypto gateways and check which one gives you the value for the money. In addition, there should be no hidden costs.

However, the coinremitter offers low transaction costs, which ultimately helps small business owners to take their business globally.

3. Website Integration:

User-friendliness is the most important part of a payment gateway. Choose a gateway that offers merchant-friendly integration with a documentation guide on their website.

Also, consider which crypto coins and open-source plugins they’re providing.

Check the responsiveness of their technical integration teams, which will help you accelerate the integration and start accepting crypto payments immediately.

4. Customer Support:

It is important to really look at the type of support being provided by a gateway. This is essential to your business as issues could hinder your sales processing capacity.

A satisfactory response to your questions is an integral part of what you should expect from a crypto payment provider.

The gateway should provide you the 24/7 customer support help or an immediate response.

5. Functionalities:

The very important part is to check the features. You need to check out all the necessary features that a crypto payment gateway should have.

You can opt according to what goes best with your business needs.

Some of the features that you might need to focus such as currency swap, digital wallet, multi-currency support, low transaction cost, accept major cryptocurrencies, etc.

Coinremitter comes with all those features that the merchants can’t go wrong with.

In Summary

Using the right payment gateway allows you to accept crypto payments smoothly and without any problems.

You will need to make sure it suits the needs of your company, will allow you to accept payments internationally, and will ideally come at a reasonable price.

We’ve made the work easy for you to what should you consider while choosing a crypto payment gateway.

Categories
Knowledge

Understanding Blockchains and how cryptocurrencies work

What is blockchains?

To understand blockchain technology, a blockchain Is usually known as a group of blocks that are bound to each other by using cryptography. Computer networks can maintain all of these blocks that call peer to peer networks. These networks are either centralized or decentralized.

The main purpose of blockchain technology is to contain information in every block. There is a digital key that protects the block. 

Since the crypto-coins market commands its peak these blockchains are principally used among these markets. Moreover, the decentralized cryptocurrency market means there aren’t many Influences of centralized agencies like banks and central government.

Sometimes to perceive Blockchains may become delicate for folks. However, in exceedingly traditional words centralized agencies open largely Information that might be simply accessible to everyone. 

There are ample crypto payment gateways accepted blockchain technology to send/receive coins, save invoices, and alternative details to store.

What is transaction fees? Or withdrawal fees?

Transaction fees are basically a charge you have to pay if you transfer coins from your wallet to someone else’s wallet.

There are many crypto coins gateways that charge withdrawal fees according to their circumstances. Some of them take charges individually according to multifarious countries also payment gateway like Coinremitter takes only one charge in order to send coins across the border and no matter where that user is from.

In addition, these transaction fees are the main revenue of some gateways. in contrast, it doesn’t apply on other gateways because they have also found other ways to earn more than their revenue.

The individuals are paid to those minors who make transactions possible. Eventually, they paid them from revenue.

However, each and every transaction history will be saved in blockchains whenever users made their transactions within the border or across the border.

Minors can see all these transactions to avoid errors which create resistance when transfers between the process.

What is cryptocurrency wallet? – Where to store crypto coins?

What is the crypto wallet?

A crypto wallet/crypto coin wallet is a function that every crypto coin holder can use to sends/receives coins into their wallet. In addition, it only accepts that one coin in a wallet, which that wallet would make from that coin.

Each wallet holds its private keys and the only owner of that wallet would have accessibility in order to open wallet. It also holds a public address in order to send coins within their wallet.

If someone accidentally deletes their wallet, then all the remaining funds from that deleted wallet will not transfer because users have the full authority about what to do with the wallet.

Moreover, blockchain technology can save all your funds and wallet information securely.

How to accept coins on websites?

The types of services provided by Individuals are subtle sometimes. There may have one route to accept crypto coins within the website is to create a wallet of crypto coins.

Coinremitter provides the simplest way to create a wallet and start accepting or sending coins on individuals’ wallets.

You can click here to see more about how to accept coins in your websites (how to create a wallet on coinremitter)

This is the easiest way by far everyone knows.

How many types of crypto coin wallets are available on the internet?

There are eventually 5 types of cryptocurrency wallets available on the internet.

1) Hardware wallets

2) Paper wallets

3)Desktop wallets 

4)Mobile wallet

5) Web wallets

From the starting of hardware software, this type of wallet is mainly unique because it comes in the form of a USB device that contains an LED screen on it where it displays a kind of native desktop. It cost money but it’s worth it.

Paper wallets are basically not for every cryptocurrency user. In general, it requires some of the high cautions in order to make transactions. On this wallet, your private keys and public address will go to print on a piece of paper yet this may be a good way in order to protect your data. Thus, all private keys are offline while utilizing it.

A desktop wallet is one of the most trustworthy and needlessly, far more superior wallets among these wallets because users have all the rights to operate this wallet including their private keys to keep an eye on every transaction. However, there is one desktop wallet available called coinremitter is the most valuable wallet across all its users.

In today’s world making an online payment through mobile is at its peak. Moreover, mobile wallets are easy to operate this wallet supports Android and iOS so sleekly. Nevertheless, it contains a lot of caution because the security would become less to protect users’ information in order to make the quickest transaction and cut the most time. Therefore, it’s optionable for users.

Web wallets are always connected to the internet and can be simply accessed through web browsers. This wallet also called a hot wallet. These wallets are not for all users so it’s good to maintain a distance from this and stick to the trustworthy wallets.