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What is the Kraken exchange?
Are you interested in cryptocurrencies? If you are, would you like to invest in or trade with these virtual currencies? Then you need to choose a trusted digital currency platform that is secure yet easy to use. Why not consider the Kraken Exchange?
The Kraken Exchange
Kraken is one of the earliest cryptocurrency exchanges that have been introduced in the world of virtual money. This cryptocurrency exchange started in 2011 and continues to be one of the most favored cryptocurrency exchanges to this day.
It is no wonder, then, that many traders would opt for Kraken Exchange. First of all, the Kraken Exchange is known for its well-secured platform. Hackers often pose a threat to virtual currency exchanges but have found it difficult to hack into the Kraken platform. Since its creation, no problems were encountered by both the traders and Kraken exchange itself.
Another reason for its popularity is that it helps new traders who don’t have their own cryptocurrency tokens do a trade. The platform has a special feature that allows new traders to use fiat money. Fiat money is actually the regular currencies in circulation today that includes the US and Canadian dollars, European Pounds and Japanese Yen.
Kraken had been one of the breakthroughs and the current leader in cryptocurrency trading in Europe. The Exchange was able to increase the volume of Euro to Bitcoin exchange. In 2014 alone, the platform was able to score the highest volume in trading Euro to Bitcoin.
It the same year, the platform also introduced a groundbreaking proof-of-reserves audit that was listed on the Bloomberg Terminal. Today, Kraken is now based in San Francisco, California and is ready to take in new and old traders in the US, Japan, Europe, and Canada.
A third reason why many prefer Kraken is because of its dark pool. The dark pool is a private exchange, exclusive only to the premium clients of the platform.
Opening a Kraken account
Registering to Kraken is very simple and easy. First, you have to sign up. The platform will ask for some personal details like your email address, chosen username, and a password.
Once you have filled out this part, you will receive a confirmation email to verify your identity. Make sure to open your email once you have filled out the necessary details.
When making a Kraken account, you can choose one of two types of accounts. We have Basic and Advanced accounts. The Basic account requires you to provide your personal information like your name, birthday, contact numbers, and address. The Advance account requires users to upload security details like an ID or their social security number. They also require a two-way authentication and bank details.
Kraken also offers various trading Tiers and features which are exclusive for advanced users. Basic users can upgrade their accounts through the easy verification process of the website. It may take a few days, though, before you can finally move up to the advance tiers.
Depositing funds into your account
After you have made your account, you can now deposit a certain amount of cryptocurrency or fiat money from your bank to your Kraken account. You will also be asked to give your cryptocurrency wallet address or your bank details.
How to trade on Kraken
Trading on Kraken
Once you have the funds in your Kraken Account, you can start trading. Click on the “Trade” tab on your interface and choose “New Order”. You can now trade with different types of cryptocurrency. Just indicate the amount that you’d like to trade, then choose from two different types of orders, Market and Limit. Limit orders are a type of order that allows users to set a particular amount whenever they buy trading tokens. Market orders allow traders to trade at a specific market price at that particular moment.
How much are the fees and charges?
Kraken charges fees for every transaction based on the methods and currency that you are trading, and on your current location. Each country differs in terms of deposit and withdrawal fees as well as trading fees. Countries from EEA can deposit funds for free with a €0.09 charge for every withdrawal. Bitcoin users can also deposit funds for free and charged 0.001 BTC for each withdrawal. You can check out the details in their Fee Schedule on their official website at www.kraken.com.
Good luck and have fun trading at Kraken.
Ethereum is a blockchain platform with smart contract range of capabilities and purpose. Vitalk Buterin invented Ethereum as an underlying platform for developers in 2013 to develop decentralised apps. The platform’s popularity acquired tremendous fame, and so its currency Ether.
The whole process runs on Ether which is the necessary cryptocurrency tokens. Read the article Facts We Need To Know About Ether. Ether has lots of functions including consisting of assistance in the development of dapps and system updates. So, how do you acquire on some Ether?
How To Purchase Ethereum?
Here are the simple steps and guide on how to purchase an Ethereum online.
Get An Ethereum wallet
It’s apparent that you would require an Ethereum wallet to keep your Ether. The wallet is a requirement before you can purchase any Ether. There’s no lack of Ether wallets. You can find several numerous complimentary wallet apps for your phone to download the Ether wallets.
Get an Ethereum wallet
Purchase Ethereum On Cryptocurrency Exchanges
The vast majority of cryptocurrency exchanges will allow you to offer and purchase Ethereum. And even the Bitcoin perfectionists such as Coinbase have warmed to Ether. You’ll find it’s worth looking for the best rates there is.
What’s more, it’s difficult to go wrong with the most outstanding exchanges. Here are some of the transactions that offer Ether:
How To Buy Ether Anonymously
The easiest way to purchasing Ether is online; So, there are ways to buy it anonymously. Several users worry about security and data defence. It’s because some of the online exchange services require you to provide personal information to trade. And for some, it’s not their cup of tea.
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Purchasing Ether From Ethereum ATMs
Bitcoin ATMs turned out to be more and more popular. But, they’re by no means the only crypto-ATMs in the market at present. Ethereum ATMs also end up being more visible in bigger cities. When you’re able to locate the nearest Ethereum ATM, you can scan your wallet’s QR code with the machine’s cam.
Buying Ether With Money
An Ethereum equivalent appears in every Bitcoin platform. The platform gathers interested parties to transact and trade Ether.
Sign Up With An Ether Meetup Group
Are you one of those who feels uncomfortable trading with a stranger on the internet? You’re not alone. The good news is, there are several Ethereum meetup groups. The meetup groups answer fellow Ether lovers with their questions, meet face to face with fellow Ether admirers, talk and discuss over the most recent updates in the neighbourhood, and also trade tokens.
Staying Safe
How to purchase Ethereum and to make a deal are permanent. And there’s no process to recall the loan in case you made an error. So, stay safe and secure your Ether wallet by using two-factor authentication.
Which is the better between ICO vs VC competition? One of the foremost hardships startups experience is raising capital. And to solve this problem, any business can take advantage of ICO or venture capital (VC). But which ICO vs VC goals is better for any startups?
ICO Vs. VCO Competition
So in ICO vs VCO competition, which one is better for a company? There’s the option of the old and familiar venture capital (VP) and the Initial Coin Offering (ICO).
Venture Capital or VP is raising money coming from a group of venture capitalists who will take the risk of investing their money in exchange for the company equity. The Initial Coin Offering or ICO otherwise is raising money worldwide from any person who has the internet connection and enough money to purchase a token.
With the introduction of blockchain and cryptocurrencies innovation, ICO also had been present for a couple of years. The equity capital combines raising funds from several investors and has also been visible for around several years.
The basics of ICO is that it grants startups to fund themselves without any equity obligation. So ICO could be the game changer. Picture this, why should one share a per cent of the company if, at present, it’s potential to raise money without it? But, don’t rush into things because VC still has a couple of aces with it.
But why do startup entrepreneurs consider ICO as the perfect one? Reports say that there were 5.3 billion allocations be entrepreneurs who developed hundreds of ICOs launched in 2017.
Who can invest in ICOs?
Who Can Invest In ICOs And VCs?
One of the advantages in ICO is that nearly everyone can be an ICO financier as long as they have the internet connection and can access major cryptocurrencies like the Bitcoin (BTC) and Ethereum (ETH). In ICOs, the geographical place is never a barrier.
Furthermore, in ICO, you don’t even need a working item to attract investors as long as your concept is engaging. Another advantage of ICO is that the investment is open to both experts, knowledgeable and the unskilled or inexperienced investors.
Compared to venture capital investors who are often experiencing businesspeople, in ICO you can be an investor even when you have no business experiences. In VC, there should be a concrete and logistic plan and approach to everything.
You would require to have a superb idea, a clear demo, a prominent content on your documents, the best and well-prepared pitch, and a specific roadmap in VC. You should be an expert on your tone, so you have concrete answers to provide from potential capitalists. But the best about VC is that these investors will stick with your business for a long time and they’re not after fast money.
Where To Find ICO vs VC Audience?
First, let’s explain the difference of the ICO to the business consumer sales and VC to business to business sales. Also, it is crucial to note the pros and cons of venture capital vs ICO funding.
VC investors eagerly prefer local-based industries. Why? It lessens their need to study and understand several markets when it comes to competitors and guidelines.
But these kinds of funding commits to countless meetings and finalizing of several documents. Also, the geographical setting is also an essential factor to consider.
VC investors are seasoned businessmen. So, they have a lot to demand from your business and a lot to propose as well. When you don’t have the velvety pitch, an impressive demo, a hard-boiled but remarkable document, and realistically detailed roadmap, then forget VC because these investors will not buy it.
The best about the VC audiences are they’re more dependable and reliable. These investors will support your business for the long run and don’t expect a quick return on their capital. But these VC businesses at present are now also sighting on to the crypto sector to also take advantage of its benefits.
With ICO vs VC investors, the ICO is for everyone and from everywhere. Your business can have the potential to acquire a lot of money even from people living on another continent. You also don’t need to have a working product nor a track record of your business experience. As long as your idea has enough buzz, you will get the funds!
Take an important note that the nature of ICO is the “quick buy-sell process.” So, compared to the VC investors, the ICO investors will only stop by to sell the tokens for a quick profit. By the time they see you undertaking some issues, they will drop your venture without sentimentality.
What do investors look at?
What Do These Investors Look At?
These investors are enthusiastic that the ICO tokens will get high on with time granting them to generate revenues when they offer them later. ICO investors search for a strong idea that they assume will be attractive as soon as the project launched.
However, VC offers startups with several essential things on top of financing. VC financiers provide the startups with company guidelines, scalability, and consulting aside from funding. It’s because VC capitalists are the experts on these aspects. More on, these capitalists offer more business connections which are beneficial for raising the adoption of a brand-new company by the already recognized firms.
But How Do We Persuade Investors?
As an entrepreneur, it’s your foremost duty to raise capital whether through ICO or equity capital. But how to convince financiers? It’s to win the trust of the investors.
Having a stable and robust concept is enough to convince the investors to put funds in your projects. How to shorten the quantity of time you will need in looking for investors lies in how attractive your idea and plan are to the potential capitalists.
Where Can ICOs Launch?
ICOs are available across the globe as long as there’s an internet connection. The ICOs capitalists also don’t care about the geographical setting of the business using the ICO. They will only think about whether the value of their tokens will increase or not. ICOs develop the possibility of organizing together both project leaders and financiers.
Conclusion
ICO vs VC competition has several pros and cons. ICOs outpaced VCs in regards to the amounts collected by startups. ICOs interrupted the traditional investment processes and provided an even effective method of raising capital, yet, it’s still early to jump into conclusion on the fate of VCs. In summary here are the pros and cons of venture capital vs ICO funding according to Cointelegraph:
VC
• Investors Loyalty
• Business guidelines and knowledge support
• Building valuable connections
• PR credit
ICO
• Freedom, no equity required
• No working product needed
• No geographic limitations
• Rapidity – no bureaucracy
There will come a time when you will decide how to sell your Ethereum once you’ve collected some Ether through buying tokens or mining them. At present, there is a minimal number of industries that accept cryptocurrencies as a form of payment so Ether can only be beneficial to pay for stuff on the Ethereum network. Also, most of the businesses that accept cryptocurrencies as payment just welcome Bitcoin.
If you don’t have the intention of being an operating user of Ethereum, that means you bought Ether as an investment but with the plan to progress it at some point soon. This guide will include several ways of selling Ether and mention some trading points.
How To Sell Ethereum
When you have accumulated several Ether coins, you might be asking yourself now on how to sell Ethereum. On recent articles, we revealed how to acquire some Ether coins. So, now we will include how to get rid of your Ether coins and earn.
The good news is the channels where you purchased your Ethereum are the same channels you can take advantage of the best way to sell Ethereum. So, when you have experienced the benefits of purchasing Ethereum on these channels, here are the several methods you can also sell them:
- Cryptocurrency exchanges
- Ethereum ATMs
- Peer-to-peer trading platforms
- Cash
- Ether Meetup Groups
Purchase Ethereum on cryptocurrency exchanges
There are several tradings available for you to trade in Ether as Ethereum’s status is the second most popular cryptocurrency. Most of the exchanges will have, but most are similar. Here are again the few of the transactions that note Ether as a tradeable token.
These different ATMs grant you to both purchase and sell Ethereum. Bring along your Ether wallet and scan the QR code on the ATM to sell your Ether.
Selling Ethereum With Money
Local Ethereum is the go-to spot when it comes to peer-to-peer trading. As an Ether owner, you can link directly with interested buyers on this platform. Moreover, you can also negotiate a market price. As a seller, you can ask for cash, bank transfer, charge card transfer, PayPal, and other cryptocurrencies as payment for you Ether selling.
Signing Up With AN Ethereum Meetup Group
As an Ether holder, you can also meet like-minded people in your local area. Meetup.com has an entire section devoted to Ethereum-related groups. These meetup groups make it simpler to search for both sellers and buyers of Ethereum.
Methods To Sell Ethereum
There are a lot of different ways to sell Ethereum as much as there are numerous channels to set it about. So, when you’re offering Ether for profit, you might want to search at some of the trading strategies on how to do it.
Holding And Keeping Your Ether
The best recommendation is to stay and keep your Ether until the time is ideal for selling. One of its benefits is that you don’t have to maintain up-to-date on the minute about the cryptocurrency market.
Margin Trading
You might also consider margin trading on how to sell Ethereum especially when perseverance is not a strong point for you. It’s crucial to note that the value of Ether can change during a day. So, you can offer and sell Ether at the right time when the price goes up by checking and monitoring the cost fluctuations closely.
Are you trying to learn what desktop wallet is? Look no further. This is a program that can be downloaded to a desktop computer or laptop. Access to the wallet is only from the device where it is installed. They can be used to store bitcoins and other types of cryptocurrency and depending on your level of activity and how safe your bitcoins are. You can also use a specific wallet, depending on how often you access your funds and how much money you want to keep in your wallet.
The wallet is needed to store, exchange and conduct transactions with digital currencies. The sender gives you the ownership of the coins. To access them, the private key that is stored in your wallet must match the public key to which the digital currency is attached. After this happens, a record appears in the blockchain that the transaction has been completed.
Are desktop wallets secure?
Using a desktop wallet helps users to get rid of third parties and are considered more secure than online wallets, mobile or hardware wallets. Meaning that user can receive and send money, exchange directly in the wallet for other currencies. If, when using an online wallet, there is a high probability that coins can be stolen by service owners, then this is not possible with a software wallet, because it has only one owner. The client has the right to create a backup copy, or several, to protect themselves from loss of funds.
Let’s imagine for a moment that another unpleasant situation has occurred. Maybe an operating system crashed on your computer or someone stole your laptop … In other words, the wallet has disappeared! Thanks to two-factor authentication and multi-signatures, neither hackers nor thieves will be able to regain access to your bitcoins – just like you! Unless, of course, you have no backup (safety net).
What are public and private keys?
The private key (also known as private) is a 256-bit digit encoded in various formats. Visually, it looks like a set of letters and numbers. The type of private key depends on the format. At the same time, a public (public) key is a unique address used in the blockchain, accessible to all network participants. A public key consists of a set of letters and numbers generated from a private key. It is used to identify the user. To receive a cryptocurrency transfer, the public key is provided to the sender.
Each wallet is managed by a piece of code that allows you to receive or send coins, as well as store them with varying degrees of reliability. The public and private keys that your wallet generates and stores are necessary for you to “sign” (approve) each new transaction of money to another wallet. A user without a digital signature can not transfer coins from one wallet to another. It must be remembered that the public key can be extracted from the private key. It turns out that if someone knows your private key and extracts a public key from it, he can also “sign” a transaction – and you will lose money. Do not confuse the public key with the public address. Public address is given to anyone who wants to transfer money to you. Since your private key is a string consisting of letters and numbers, you can print it, copy it to a USB flash drive and send it to your wallet in your phone or computer.
It is unsurprising that recently mobile wallets are now more and more popular. As opposed to hardware, which requires a computer, you can with mobile wallets access digital media from anywhere. ICOFriends selected the TOP five mobile cryptocurrency wallets for iOS and Android and prepared their comparative review.
1. Coinomi Mobile Wallet
Coinomi is of the most popular choices for Android and iOS users. It’s an excellent fusion of security and support for different coins. Wallet supports a large number of different cryptocurrency. BTC, ETH, LTC, and DASH are some of the most popular ones. For sending money to the wallet, you have to tap in the address of the wallet when you send from an exchange or exchange service.
2. Jaxx Mobile Wallet
Initially, it was an extension of Chrome, it has mobile applications for Android and iPhone, which make it possible to carry out any operations with funds on the wallet, just having a mobile device at hand and being in any country in the world. Also, the wallet supports a large number of cryptos. These include BTC, ETH, DASH and LTC, and tokens. These include QTUM and EOS, as well as and many others. In order to exchange some tokens for others, Jaxx users need not go out of their wallet and switch to services that allow them to acquire the necessary tokens because one of these popular ShapeShift services is already available to them directly from the application. Fast, easy and very convenient.
3. Bitcoin Mobile Wallet
Bitcoin Mobile Wallet offers a powerful solution to users for whom security and privacy are paramount in a wallet. The Bitcoin Mobile Wallet interface is intuitive: on the main screen of the application, user funds are displayed, and in its lower part there are buttons for requesting, sending coins and cryptocurrency exchange. At the moment, Bitcoin Mobile Wallet only supports Bitcoin currency, this can be considered the only drawback of this wallet. In our opinion, Bitcoin Mobile Wallet is suitable for users looking for security and anonymity, coupled with ease of use.
4. Airbitz
“Young” service does not always mean “low-functional”, which once again proves the Airbitz mobile wallet. If you need a high level of bank security, then you should pay attention to the Airbitz online wallet. It is also mainly used for storing and managing bitcoins. Although the wallet allows you to work only with Bitcoin, the Airbitz can entice users with its easy-to-use interface and privacy. Users can also have multiple wallets in one application and account, which eliminates the need to store multiple sets of credentials.
5. Infinito Wallet
This is one of the newest mobile wallets with support for multiple digital currencies. Wallet Infinito Wallet can work with multiple platforms and offers strong customer support. It does not record your transaction data, as it provides flexible storage mechanisms to ensure the safety of the coins. The only drawback of the Infinito Wallet is the lack of two-factor authentication (2FA). If you pay special attention to the security of coins, then perhaps this wallet does not suit you. However, Infinito Wallet is one of the most convenient wallets that can be found on the market.
Conclusion
Today it is the 5 most reliable and quite convenient cryptocurrency mobile wallets in the world. To get the maximum benefit from them, you should definitely find out how they work, what are their pros and cons, and, of course, experiment with them. You can check out more on the leading five mobile wallets and newest crypto news here.
What is CoinEgg?
CoinEgg is a cryptocurrency exchange based in the United Kingdom. Does not support fiat currency pairs. It’s known for having a large range of pairs with altcoins. These include several less-known cryptos. You should be aware that such pairs, as a rule, are characterized by low liquidity. The advantages also include the fact that the CoinEgg Exchange has been operating for a while. Since 2013, in fact, and during this time it has never been hacked or been mentioned in similar incidents.
What can you trade on CoinEgg?
The platform is very easy for users who have just started to trade. In the Trade section, you will see a full list of trading pairs that are distributed between the markets: BTC, ETH and own USC. To facilitate the search process, you can use the filter. After selecting the desired pair, you will find yourself in a trading terminal, in the center of which is the Trading View chart with all the necessary tools for analyzing the market situation. Traders note a fairly low trading commission, a large selection of available cryptocurrency pairs and a good security system. On the other hand, not everyone is satisfied with the absence of fiat at auction.
What are the fees on CoinEgg?
Unlike other exchangers, CoinEgg does not charge users any fee for depositing but it also does not take any responsibility for a fee charged by banks for the transaction. All transactions on the platform are charged by 0.1%, it is considered lower than the market average.
What is CoinEgg’s customer service like?
As most platforms CoinEgg online customer support on their website and email address in the Contacts section. Both options are available all clock round but lately, users were unsatisfied by the longer time it took to solve each individual requests. To overcome that issue platform created fixed FAQ section in the Support area of the website.
CoinEgg security
The administration of the exchange is serious about the security of assets and personal data of users. When you first log into your account, the client needs to select three questions and indicate the answers to them. This is necessary in order to restore access to the account. Also, be sure to install a pin for trading. To increase the security of your account, you should enable two-factor authentication. Users can set up sending emails every time they sign in or withdraw funds. Large traders who are interested in raising the daily limit on withdrawal up to 50 BTC and more should pass an additional test. To do this, you need to contact the support and record a video of a certain length with your ID, and other documents that will be required.
Summary
The platform provides a high level of client protection and works with a large number of cryptocurrencies. At the same time, couples with fiat are not traded on the stock exchange. The exchange provides traders with access to market information, charts, price changes, which will help to make an even more accurate trading forecast.
How To Buy ICO Tokens
In recent years, there has been a real boom in ICO projects – almost every startup seeks to raise funds for its needs by offering coin. However, this sphere is not regulated by anyone and generates numerous HYIPs with clearly fraudulent intentions. Many of them even successfully disguise themselves as a serious start-up, for some time they lead the public with enticing promises, and then simply evaporate. Depending on the dynamics of development and economic strategy, a specific cryptocurrency network can combine different types of tokens. For example, many ICO projects issuing their coins (altcoins) today use several categories, and the classic Bitcoin only one.
What you need to know about ICOs
It is also important to know that some ICO startups accept donations in the form of fiat money. Others take only bitcoins as payment or the cryptocurrency on which they are going to build their own blockchain. Most often, investors pay esters. How much ETH is worth paying and how many tokens to buy – you decide. However, at the initial stage, ICO tokens cost a penny, so you can recruit a lot.
How long before you get ROI?
ICO-projects have recently become very popular because they allow you to make new profits or any valuable service using the blockchain technology and existing cryptocurrency systems. It is convenient for both developers and investors: some quickly find money for their project, others – profits. The release of ICO’s own tokens allows investors to rely on earnings in the future, provided that the project is proven and reliable, and not just another scam, which, unfortunately, are many in the market.
Bitcoin and Ethereum are still the best bets
It is easy to buy coins on one of the well-known cryptocurrency exchanges for example in Coinbase – you can also make a wallet in the same place. Connect your bank account or credit card, buy a currency, but keep in mind that this must be done at least a week before the ICO since it takes several days to conduct such transactions involving traditional banks. Also note that at Coinbase, the credit card fee is higher than the bank transfer (3.99% and 1.49%, respectively). If you plan to store purchased Bitcoins (Bitcoin) or ethers (ETH / USD) here, move them to the storage. We do not recommend using two-factor authentication via SMS.
Research the ICOs and register with one
It is easy to buy coins on one of the well-known cryptocurrency exchanges for example in Coinbase – you can also make a wallet in the same place. Connect your bank account or credit card, buy a currency, but keep in mind that this must be done at least a week before the ICO since it takes several days to conduct such transactions involving traditional banks. Also note that at Coinbase, the credit card fee is higher than the bank transfer (3.99% and 1.49%, respectively). If you plan to store purchased Bitcoins (Bitcoin) or ethers (ETH / USD) here, move them to the storage. We do not recommend using two-factor authentication via SMS.
Send your contribution to the ICO team
Register on a cryptocurrency exchange (for example, Coinbase) and have a wallet on it. Then buy some coins bitcoin or ether. Most often, ICO startups use the ETH trick, since they are based on the Ethereum ecosystem. However, to participate in the ICO will not work, using only an account on the exchange. With a purse on a resource, you do not have private keys, so all tokens will come to the address of the exchange, and not to your own. MyEtherWallet should be tied to it if ethers are used, or your software wallet for bitcoins. As an option – a wallet on the service Blockchain.info. Send your cryptocurrency to the address of the organizers. Make sure that the address is correct and is not fake. Often fraudsters exploit this vulnerability and quietly steal the output bitcoins and ethers.
How to store your ICO tokens
In the process of transferring and storing tokens are similar to cryptocurrencies. To do this, use special applications-wallets that implement the storage and processing of keys, as well as the formation and signing of transactions. Typically, these applications are part of the tokenization framework infrastructure.
There is no doubt that Bitcoin is the most popular token in the world, well basically it is the oldest one and as well for now it is the largest one. Why for now? Because of Ripple and other newer cryptocurrencies, more on that later. Ripple is a San Francisco based company that found XRP token in 2015, it is mostly referred as “ next Bitcoin” and for now it holds second position in valuation just after Bitcoin.
Why was Ripple created?
The differences between those two main coins start right in the main idea of existing. Bitcoin was meant to change the way people make payments and ultimately replace normal currencies, so as definition Bitcoin saw banks as enemies. On the other hand XRP does not aim to revolutionize and change existing system, it just wants to improve it. Ripple mainly helps to transfer loans worldwide, and it was developed in cooperation with other entities so banks and corporations often use XRP to transfer loans.
Ripple is not decentralized
Differences continue along with the management and governance of the coins; Bitcoin is very decentralized and not under control of any company or government of any country. But XRP is a company owned and controlled currency, Ripple has headquarter in San Francisco and local offices in New York, Luxemburg, Singapore, India, Sydney and London. Company has more than 100 customers all over he world.
Ripple is the second largest cryptocurrency
Coming to sizes of coins, as mentioned before Bitcoin is the biggers currency and has market capitalization over $67,789,694,922 and its coins are one of the priciest coins on the market with each costing around 3,888 USD for the moment of article being written. Ripple is smaller than that but is is second by market capitalization with over fourteen billion USD according to coinmarketcap.com. The price of each XRP coin is much lower that Bitcoin and is traded at 0.3586 USD. That makes that there are more XRP coins on the market than Bitcoins.
Ripple transactions are much faster than Bitcoin
Advancements of XRP may be seen right from the most used function – transactions. The win for performance match goes to XRP with average verification of transaction under 5 seconds whereas Bitcoin has average verification period of 10 minutes. It is because of ability of handling transactions, namely Bitcoin can procedure on average 7 transactions per second and Ripple can procedure more than 1,500 transactions at the same second. Price-wise XRP also have advantage with 0.01 USD per transaction.
Ripple has a larger supply and is easier to mine
There are ultimate number of Bitcoins that can be produced and it equals to 21 million coins, and there are over 17 million of coins in use now it is over 83%. Coins are produced by mining using computer power for calculation of transactions, and each coin is harder to mine than previous one making it very hard to mine after some time. Many ecologists say that Bitcoin is harming environment by its very power consuming mining affecting global warming. Unlikely Ripple has five times more coins around 100 million and users do not have to mine them as they are all pre-mined by company which holds 60% of coins in use. Being pre-mined coin gives many advantages to XRP like less power requirements.
Ripple is more popular among banks
Bitcoin was created by the person or group of persons under the name of Satoshi Nakamoto, real identity of founder\s are not known till today. Similar to XRP the founder of Bitcoin holds significant amount of coins around 980 thousand BTC. The company that owns coin XRP Ripple also holds around 60 billion coins and maintain 60% of the main supply. Unlike Bitcoin Ripple constantly launches new parties of coins into market.
Ripple has a much larger reserve than Bitcoin
TBitcoin is being used as the main transaction con by individuals and enterprises worldwide. It is preferred for being less expensive and easier to use for transferring money across world like in India. Also many companies started to accept Bitcoin as payment option for their products and services. XRP is more preferred by large users like banks like Japanese Fidor Bank or American Express. Ripple uses for its SWIFT system to minimize price and period for transaction and this is the main reason for Ripple having fewer customer numbers.
Bitcoin is more accessible on exchanges than Ripple
One of the points where Bitcoin is much ahead of XRP is exchange since investing in Bitcoin is much easier and convenient. Its popularity makes it easier to find it and buy for fiat or crypto currencies. However very few exchange platforms allow users to trade XRP and it is even harder to acquire it with normal money. Mostly Ripple coins are purchased for other popular coins like Bitcoin and Ethereum.
Conclusion
Even if Bitcoin is dominating market right now it is very likely to change since XRP has more advantages and supported by different financial structures. More and more individual traders are becoming more comfortable with using XRP in a row with organizations.
UpBit Review
UpBit is an South Korean exchange platform that was founded in late 2015, interestingly it boomed among the Korean trades and in short period of one year became the biggest platform in home country on daily transaction value. Growth rates as such are not very common in that industry and such success stories are observed very few times in history.
What is Upbit?
For now it is a bit and for international trader to get registered on UpBit because platform only operates in Korean language and does not support English. Only way for international users to navigate on website is to translate it with different utilities like Google Translate. There is only one path to register to UpBit, users first need to have account on Kakao platform. After that they need to pass ID verification on UpBit since it is a part of local legislation. meaning users can not use any part of platform without passing this officially required step.
How to open an account on Upbit
Exchange platform can boast of with the very large range of supported tokens over 100 different cryptocurrencies. Most of those coins add up by enlisting new coming coin since the launching of the platform in 2015. The exact number of supported tokens may be found on the Reddit or users may follow any new enlistment or delisting of symbols on the official page of the platform on Twitter. Being major player on the market gives UpBit ability to delist some of the tokens, for example, a few months ago platform delisted one popular token MTL and trade on this platform accounted as 20% of global trade of MTL, so the users were forced to look for another place to trade MTL.
How to trade on Upbit
Users are strongly recommended to follow all fluctuations of altcoins on the charts located on the bottom of interface. It is very easy since users can do it buy or sell their tokens both from web platform or from their mobile phones using the app that is available on many OS markets like Appstore or Playstore. Unfortunately UpBit do not support leverage trading, meaning users wont benefit from trading in big scales although platform gives all the advantages for selling or buying.
What are the fees on Upbit?
Similar to other platforms UpBit makes money on charging fees on users trade, and the minimal transaction value start with 500 won equaling to 0.45 USD. It is considered as standard in the market so exchange platform keeps it in that level to be competitive. Depositing to platform is not surprisingly free on any charge. And withdrawals have fees depending on the currency and also rates differ for amount. The convenient part of withdrawal is that users may withdraw their funds in local money to local banks. Similar to most other platforms UpBits trade commission fee equals to 0.25%.
Upbit security
As mentioned before exchange does accept only Kakao users so consequently it has close working relations with Kakao. For the moment, Kakao is biggest fintech giant in country and has extensive cybersecurity department. So security of all UpBit users are guaranteed by Kakao and reputation of Kakao depends on being able to secure its partner.