Category Archives: Cryptocurrency

Are You Ready To Invest In Crypto? Check Out 5 Reasons Why You May Not Be!

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With all the prevalent cryptocurrency investment frenzy spreading worldwide, people need to take a step back and reassess their financial plans. The mainstream media & governments across the countries gave a mixed response to the prevalence of cryptocurrencies. Does that mean that the latest bitcoin buyer website should be taken with a grain of salt? Am I risking my assets if I am planning to put my time, efforts & resources into cryptocurrency? However, investors would like to differ because of the unfathomable & unprecedented returns that they received in recent years. Many of them even look forward to making quick returns on the investments that they make.

reasons to invest in crypto

Bitcoin Era will help you to see through the intricacies of the crypto industry that you must be aware of. Here are 5 reasons that you need to watch out for:

1. Unprecedented Volatility

It is of no surprise that investing in cryptocurrencies is bound to have unprecedented volatility, nothing like you’ve seen before. It involves greater risks due to the fact that the prices are always volatile. Experts feel that investing in Bitcoin is a highly debatable topic because you have nothing specific to hold onto. To carry out a fundamental analysis of Bitcoin and the associated investments is a taxing task even for the fundamental analysts.

People are constantly investing in such cryptocurrencies based on the limited or totally unpredictable information that is being floated on the internet. Considering that the entire cryptocurrency ecosystem is highly unregulated, people are flocking into it which is pushing its prices way higher than normal which is yet another red flag.

2. Element of uncertainty

Cryptocurrency does not have a definitive origin to base the facts on. The history is also not so much detailed around the topic that it becomes difficult to assess the situations & conduct research. Cryptocurrencies do not fall in the category of “Currency” as it is certainly not supported by any sort of tangible asset. With a complete elimination of government control from the entire mechanism, it is not safe for people to trust the mediums that governments clearly mandate to keep themselves from. It is undeniably a risky business for people to trade in and piles their hopes even further in this digital currency landscape.

3. Half information will cost you a fortune

Cryptocurrency is being treated as a mere bubble that can implode anytime to bring you a host of unfavourable news if you’re already too deep into it. Global bankers consider this reason as one of the predominant causes that people have lost a significant amount of money in trading and earned meagre interest/returns on them. Hence, it is quite prudent to stay away from something that you know is out of your reach. It is better to not know things than to know it all and lose it all. Even retail investors have begun to realize that the entire concept of crypto relies on uncertainty.

4. Regulation out the window

Cryptocurrency is a decentralized format that is susceptible to risks and dangers at any given time. People invest in cryptocurrency just because they get to evade the transaction fees that financial intermediaries usually charge people. There is particularly no governance system like SEBI or grievance redressal platform where you can go to seek help in case of any unfortunate event that you encounter or come across.

bitcoin-trading

If you buy something but the product doesn’t work well, you can always go back to the retailer to claim your loss but that is not the case with cryptocurrency or bitcoin transactions and your money has gone down in the dumps. Moreover, you don’t have anyone to help you out in such dire circumstances.

5. Den of thieves

The crypto industry has evolved into a hub of illegal activities where underground activities run rampant without being accountable to anyone. You also won’t have to reveal your identity while executing a transaction, so technically you won’t even know who are you entering into a contract with. This is the favorite part of cybercriminals that they can always leverage and continue committing crimes undetected.

Adoption of Cryptocurrency into World Markets and Role Played by Government Regulations

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The adoption of digital currency is undoubtedly a topic worth ruminating upon. The technology took off like anything in the recent past leaving a lot of experts & speculators stunned with the unprecedented benefits that industries across the world yielded through it. The overall rate of growth is also dynamic which can be attributed to the fact that companies look forward to implementing the latest technologies that can entail significant innovations at thebitcoincode.io.

Reasons Why Popularity Of Bitcoin Is Getting On Its Peak

Has it all been hunky-dory since the beginning?

Bitcoin era brings you the latest trends that are reshaping the entire landscape of the financial systems in economies worldwide. A cryptocurrency is a form of blockchain technology that not only received significant acceptance from countries worldwide but also transformed the whole digital finance ecosystem. But was this as smooth & seamless in the beginning as it is now? Well, the answer to that is a “BIG NO”. The advent of cryptocurrency was met with substantial opposition from seasoned speculators, investors & economists. However, there were still some prominent proponents of cryptocurrency that never gave in to the naysayers and backed the crypto industry quite ardently.

Governments, on the other hand, couldn’t afford to let such an aerodynamic technology make inroads into their ecosystem since the technology was being considered highly disruptive. The incumbent financial system in place sensed the threat and tried to keep up with dynamic trends but it was quite too late. Users & participants had already begun to switch to digital currency systems as it entailed greater benefits than traditional methods could ever offer.

Why has crypto gained relevance over traditional means?

Needless to say that the adoption of cryptocurrency has skyrocketed in the last decade and continues to set an example for traditional systems in place. Emerging markets have already acknowledged the unfathomable potential of the crypto industry and countries like Kenya, Venezuela, Vietnam, Nigeria are witnessing a significant rise in the overall transactions being conducted on peer-to-peer platforms.

Another predominant reason for such a considerable surge in peer-to-peer transactions can be attributed to the fact crypto is a decentralized platform that can be accessed by anyone. People don’t need to have a designated bank account to be able to conduct the transactions. Hence, centralized exchanges are being overlooked for far better options and crypto is one such emerging example in such countries.

Ways that people adopt to circumvent restrictions

Emerging markets are bound to have currency devaluation which stimulates the citizens of the country to resort to ever-expanding peer-to-peer platforms. They can easily buy the cryptocurrency through such platforms which also enables them to keep their savings intact. In addition to this, international transactions can also be carried out easily in such areas which can vary in nature i.e., commercial use or individual remittances. For instance: purchase of products/goods so that they can be imported or sold later.

However, emerging markets also put a specific limit on the designated amount which can be moved out of the geographical boundaries of the country. Hence, this is where cryptocurrency comes in handy for people who want to move the larger sum of money out of the country by circumventing the imposed regulations. This method easily facilitates such people in meeting their respective financial needs quite seamlessly.

Peer-to-peer platforms are redefining the trends

China is one of the largest markets in the world that was recently ranked fourth in terms of cryptocurrency adoption globally. On the other hand, The United States of America was also featured in the list at 6th spot. Now, here’s the catch, the ranking witnessed a significant shuffle when USA’s rank went down to the 8th spot, while China’s rank slipped to the 13th spot.

10 Trending Crypto Exchanges

The main reason that can be attributed to such a great fall is their exclusive rankings in the volume of trade on peer-to-peer platforms. However, other countries are also catching up with the trends now and the sky is the limit for all adopters of the latest technology.

The regulations imposed by the government had to be complied with but they did not impact the proliferation of cryptocurrency under any circumstances.

Why Has Armenia Invited Crypto Mining and Installation of Coin Minting Hardware

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The Armenian government authorized leasing an old space heating facility during a meeting on January 19. Since it generates expensive electricity power, the authorities have considered the equipment just at Hrazdan thermoelectric power project obsolete and ineffective. Hrazdan is one of Armenia’s most important sources of energy plants. The administration has decided that the ancient radiative heat facility would be shut down eventually. The TPP will be swiftly deactivated, and the national administration believes in leasing it to profitable business operations. Known as the bitcoin-profitapp.com, today’s world might have specific objections owing to the mining of crypto assets because it has a particularly harmful effect on the atmosphere and environment.

crypto mining in Armenia

The Hrazdan heating facility’s buildings may be leased to other enterprises, including equipment comprising power lines, electric and sewer connections. In this sense, the administration would encourage miners to install unique fiat currency technology inside the decommissioned thermal system. The mining has also praised the decision to build data centers on the country’s old steam-generating station.

Reasons behind Armenia inviting crypto miners

Crypto mining refers to the process of adding new bitcoins into circulation. It is a process of giving the nod to recent transactions and settlements to maintain and develop the ledger of a new distribution chain. However expensive and detailed the procedure of crypto mining may be, it is highly lucrative due to the constant creation of new rewards, which is why so many digital currency investors are drawn to it nowadays.

In recent trends, bitcoin mining has been banned across various countries because of its detrimental effects on the economy. It also severely impacts good governance and public goodwill, which is why it is increasingly being touted as illegal. Constant crypto mining creates a vicious chain of overall increased prices. This is why it is negatively impacting countries’ economies where crypto mining is rampant.

bitcoin servers

Recently, Armenia was dragged into controversy since it invited crypto-mining and coin installation hardware. Here are some key takeaways from this issue:

  1. In Armenia, an old thermal power plant was shut down in January 2022. Instead, it was converted into a hosted zone for digital mining currency, i.e., bitcoin. Crypto mining was legalized in 2018, so it was easy to set up this economic zone.
  2. The infrastructures involved in the mining business will have complete access to sources of electrical energy
  3. Hrazdan Thermal Energy Plant is the name given to the plant where crypto mining will take place. It is said that the electricity generated in the crypto mining in Armenia will be more expensive than the one it uses.
  4. The Thermal Energy Plant is likely to be decentralized, and the Central Government may try to disinvest it to crypto mining businesses and lucrative industrial houses.
  5. The Thermal Energy Plant will also host certain knowledge facilities.
  6. There are multiple reasons why Armenia deemed it fit to invite crypto mining. Even though it may be harmful to the economy, bitcoin mining may be profitable to the individuals undertaking it, provided it is done correctly.
  7. Also, digital currency is now becoming part and parcel of modern economies. To catch up with the pace of these economies, Armenia may have invited crypto mining and set up coin-installation hardware to ensure smooth creation and circulation of the digital currency. This will also actively encourage individuals to invest in cryptocurrency and gain from the transaction.
  8. Cryptocurrency also contributes to industry growth in multiple ways. A country like Armenia must actively invest its resources in building all possible industrial bases, and crypto mining is an excellent way to start.

The final takeaway

Reading the article above, you might have got acquainted with one thing. Armenia has allowed crypto miners to mine and process the procedure for the number of reasons listed above. Whatever the points to consider might have paved the way towards the mining at Armenia, one thing to focus on is crypto mining poses several disadvantages to the environment.