Standard Chartered, one of the world’s largest banking institutions, has predicted Bitcoin to hit $50K by the end of 2023 and $120K by the end of 2024
The bank had initially published a $100K price tag forecast by the end of 2024, noting that “crypto winter” had ended.
The development comes days after Hong Kong mentioned the bank when asking financial services providers to warm up to crypto.
Standard Chartered has expressed confidence that Bitcoin will soar in price in 2024. It expects the coin to hit $50K in 2023 and $120K in 2024. Its analysis expects miners to hold more of their supply and fewer coins to be available in the market.
$800 billion Standard Chartered predicts Bitcoin to hit the $120K price by 2025
According to Standard Chartered, Bitcoin will have a stronger market cycle going into 2024. The bank had initially expected the rice of the coin to hit $100K in 2024 but has changed its mind based on growing demand predicting it to hit $120K before 2025.
According to Standard Chartered’s analysis, the surge in bitcoin prices will come with increased hoarding of the coin from major investors and bitcoin miners. It added that the increased profitability for miners per Bitcoin would allow them to sell fewer coins to maintain a steady cash flow, thus making the coin prospects even better.
Hong Kong authorities had mentioned Standard Chartered in a Q2 2023 meeting where the authorities required the banks in its area of jurisdiction to warm up to crypto. At the time, Standard Chartered was not offering any crypto services in Hong Kong, but current developments that have convinced the bank that the coin is set to gain value continually may leave the door open.
Keep watching Fintech Express for more updates on this and other fintech-related developments.
China announced its economic performance in June, with both CPI and PPI being lower than expected.
The CPI was flat year over year in June as PPI Fell by 5.4%
The economy’s growth rate of core CPI, however, narrowed to o.4%
China has been one of the strongest economies in the world in the ongoing financial crisis, and it still sends relatively strong economic data. Its CPI remained flat in June, but the PPI has fallen to the lowest levels since 2016.
China’s economy still sends strong economic data
A report from a local media house indicates that China’s drop in Producer Price Index (PPI) has fallen due to a continued decline in commodity prices. The report indicated that the drop in international oil price was also to consider in the PPI moves.
The country’s Consumer Price Index fell to 0, and the month-to-month decline in June was the same as in May. According to information from the National Bureau of Statistics on July 10, the core CPI in China rose by 0.4% Year-on-Year, a decrease of 0.2% from May.
This data comes when the US seeks to make amends with the Asian economic super economy over the continued souring of their bilateral ties. This month, two members of the U.S. Cabinet visited China in a bid to improve their business ties. On July 10, US Treasury Secretary Janet Yellen visited the nation to improve business relations.
She told journalists and media houses that she is convinced her trip has hit its aims. However, more talks are needed to improve the situation between the two countries. Keep watching Fintech Express for updates on finance and other fintech-related developments.
U.S. Treasury Secretary Janet Yellen is in China to take part in bilateral talks with the nation on their shared economic interests
Janet Yellen has become the second U.S. Cabinet member to visit the nation in a month as high-level communication continues between the two nations.
US’s Janet Yellen is in China for bilateral business talks as the relations between the two countries have become sour recently. Yellen is now the second member of the U.S. Cabinet to visit the Asian super economy in a month, among high-profile visitors who have been there for business purposes like Elon Musk and Apple’s Tim Cook.
Janet Yellen spearheads further economic talks with China despite fallouts
Janet Yellen’s visit to China will be followed by the Special Presidential Envoy for Climate, John Kerry’s in the coming days. These visits have been more frequent as the two nations seek to mend their relations which seem to have been falling further apart as days pass.
China has joined hands with Russia and other nations to form a breakaway economic bloc (BRICS+) that would see them cease using a ‘weaponized’ dollar in bilateral and multilateral trades among the member states. The US is also de-risking from China’s global supply chains and has called on its allies like the U.K. to do the same.
As such, the two nations have stood against each other, with the future looking to split them further. However, via Janet Yellen’s visit to China, the US has revealed that it doesn’t purpose to decouple from the Asian nation despite the existing hints.
Official statements from the two nations also show that there are plans for further talks between the two nations.
“Differences should not be a reason for estrangement, but rather a driver for strengthening communication and exchanges,” China’s Ministry of Finance said in a statement Monday about Yellen’s visit.
The Ministry of Finance indicated that China had asked the US to remove tariffs on Chinese goods and stop pressuring Chinese companies, among other things.
“My purpose is to make sure we don’t engage in a series of unintended escalatory actions that will be harmful to our economic relationship with one another,” Yellen said in an interview that aired Saturday on CBS News.’
She added that the events of the COVID-19 pandemic factored in the souring ties between the two nations. However, she believes steps should be implemented to prevent further escalation, and her trip seems to be doing much about it.
“And I think my trip has been successful in forging those relationships and creating the opportunity for a deeper set of more frequent contacts at our staff levels.”
Keep watching Fintech Express for more updates on US-China relations and other fintech-related developments.
Balaji Srinivasan, an ex-coinbase executive, has reacted to an Invesco research citing investors and Central Bankers flocking into gold.
The research spans 85 sovereign wealth funds, and 57 central banks, all collectively managing $21T in assets.
Balaji Srinivasan has reflected on central banks buying gold as fiat money continues to weaken globally as economic factions grow, showing worrying times ahead that inflation may continue for a while longer. He claims that the cited central bankers are relocating funds from riskier investments as a strategy to brace against a de-dollarisation impact.
Balaji Srinivasan sheds light on central banks flocking to gold
In his summary, Balaji Srinivasan cites ten points on central bankers’ actions.
1) Flight to gold. “Amid volatile [bond] yields, 2022 saw a flight to gold, questions around the US dollar’s future as the world’s reserve currency, and increased diversification of currency holdings.”
2) Gold hedges inflation. “Reserve portfolio managers identified inflation as a key risk…69% of central banks countering global inflation through gold allocations.”
3) Gold as a safe-haven. “96% of central banks increasing gold allocations cited its status as a ‘safe-haven’ asset”
4) Sanctions are a major factor. “A substantial percentage of central banks are concerned about the precedent set by the US freezing of Russian reserves, with the majority (58%) agreeing that the event has made gold more attractive.”
5) Physical gold in vaults only. “Consequently, central banks now prefer to hold physical gold rather than gold ETFs or derivatives…”
6) Not even London is trusted. “We…had it held in London…but we’ve now transferred our gold reserves back to our own country to keep it safe – its role now is to be a safe-haven asset” said one central bank based in the West.
7) Yuan rising as a trade currency, not a ‘reserve’ currency. “A considerable proportion do expect a shift towards renminbi (27% of central banks), but expectations differ based on the region.”
8) India now the #1 emerging market to invest in, over China. “India has now overtaken China as the most attractive Emerging Market for investing in Emerging Market debt.”
9) Dollar is being hedged with EM currencies (!). “While the US dollar is expected to retain its dominance, central banks are increasingly exploring diversification into Emerging Market currencies to hedge against volatility.”
10) Everyone wants to de-dollarize. “People have been looking for alternatives to the dollar and euro for a long time and they would’ve gone to them already if there were any suitable alternatives.”
CENTRAL BANKS ARE BUYING GOLD
Invesco just released its annual global survey of 85 sovereign wealth funds and 57 central banks, collectively managing $21T.
And what does it say?
1) Flight to gold. "Amid volatile [bond] yields, 2022 saw a flight to gold, questions around the US… pic.twitter.com/w3TPre6OKI
This report comes when the tension between economic powers is increasing. The United States has been under fire for their continued misuse of money and overprinting. As a result, nations are rising against the dollar, believing it is no longer the strong world reserve currency.
In June, the US hit its debt ceiling, resulting in emergency house proceedings to suspend it. That means the underlying problem was not addressed. A month later, the US spending has risen by a trillion dollars pushing the total debt to over $32.67T.
This debt trend has been discouraging to international economic powers. It has also worsened as the US has long been weaponizing the dollar against nations like China and Russia. As a result, these two nations and other 25+ interested ones have allied to develop the BRICS+ economic bloc.
BRICS+ will unveil a gold-backed currency that will replace the US dollar when the member states trade. The new report from Invesco shows that the reserve power that the US Dollar shortly held is being taken up by hard assets like gold and its alternatives (Bitcoin, now that even BlackRocks admits Bitcoin is a digital gold).
According to Balaji Srinivasan:
“The dollar is getting unbundled. When there’s an alternative in every situation, much of the dollar’s coercive power goes away. And that’s the theme of this report — sovereigns are seeking an exit from the dollar, and a hedge against its uncertain future”
Keep watching Fintech Express for more updates on finance and other fintech-related developments.
Adam Back, a highly ranked computer scientist who some believe could be affiliated with the pseudomonas name Satoshi Nakamoto has expressed interest in seeing Bitcoin getting upgraded.
He tweeted that a Bitcoin network upgrade that maintains security could be acceptable.
Adam Back is open to seeing Bitcoin get a network upgrade that could increase its bandwidth and storage and push the CPU cost of pool (or solo/stratum v2) full nodes to be 10X higher than full nodes while ensuring that the Bitcoin validating nodes remain unaffected.
Bitcoin developer and high-ranking Satoshi Nakamoto identity, Adam Back open to Bitcoin network upgrades
Adam Back is a Ph.D. holder in computer science and a renowned Bitcoin developer. He was one of the first cryptographers to build a digital electronic monetary system. Adam Back developed hash cash, a proof-f-work-based algorithm cited by Satoshi Nakamoto, the pseudomonas name behind Bitcoin.
Due to these connections with interest in digital electronic monetary systems, Adam Back is believed to have some ties with Satoshi Nakamoto. Nevertheless, he has never claimed to be Satoshi Nakamoto, nor has the real identity behind the pseudomonas name been revealed.
On July 9, he expressed interest in seeing Bitcoin get a valuable network upgrade amid the rollout of next-generation scaling solutions like ZKsync. Adam Back’s interest comes when Bitcoin gets more use cases via the support of inscriptions and the ability to harbor other digital assets. As such, the Bitcoin network would need scaling solutions sooner than later to avoid congestion.
So is it an ok tradeoff, if it improves Bitcoin for the bandwidth, storage, CPU cost of pool (or solo/stratum v2) full nodes to be 10x higher than a fullnodes, provided that Bitcoin validating nodes are unaffected, or even helped by this. I'd think … maybe yes.
In his tweet, he gave an instance of committed snapshots, snapshot validity ZKPS, Zerosync, utreexo-related things, sidechains, indexes,in-block comparison/coordinations signature aggregation, verifiable history compaction nimble wimble, power user workable 10X overhead, not 100-1000X data center only as the possible upgrades that could be done to the network.
He explained that such an upgrade on full nodes bandwidth, storage, or CPU load to construct blocks would ensure that they remain cheap and thus more decentralized.
Keep watching Fintech Express for more updates on Bitcoin, cryptocurrencies, and other fintech-related developments.
With fuel costs representing a significant portion of household budgets, finding ways to save on gas consumption can make a notable difference in overall expenses. By adopting fuel-saving strategies and making conscious choices, you can reduce your reliance on gasoline, save money, and contribute to a more sustainable future. In this comprehensive guide, we will explore various tips and techniques to help you maximize fuel efficiency and cut down on gas expenses.
Maintain Your Vehicle
Regular vehicle maintenance is crucial for optimal fuel efficiency. Follow these practices:
Replace air filters: Dirty air filters can restrict airflow to the engine, negatively impacting fuel efficiency. Replace them according to the manufacturer’s recommendations.
Use the recommended motor oil: Opt for the recommended viscosity grade of motor oil for your vehicle. The right oil reduces friction and enhances fuel economy.
Plan Efficient Routes
Proper route planning helps minimize unnecessary driving and saves fuel:
Combine errands: Group multiple errands into a single trip to reduce mileage and avoid unnecessary backtracking.
Utilize navigation apps: Utilize navigation apps to find the most efficient routes and avoid traffic congestion whenever possible.
Drive Smartly
Your driving habits play a significant role in fuel consumption:
Accelerate and decelerate smoothly: Avoid aggressive acceleration and sudden braking, as they waste fuel. Maintain a steady and consistent speed.
Observe speed limits: Higher speeds lead to increased aerodynamic drag, reducing fuel efficiency. Adhere to posted speed limits for better fuel economy.
Avoid idling: Turn off your engine if you anticipate a wait longer than 30 seconds. Idling consumes unnecessary fuel.
Use cruise control: When driving on highways or long, steady stretches, engage cruise control to maintain a constant speed and improve fuel efficiency.
Reduce Vehicle Weight
Reducing the weight of your vehicle helps improve fuel efficiency:
Remove excess items: Remove unnecessary items from your trunk or cargo space, as extra weight increases fuel consumption.
Avoid roof racks: Roof racks and cargo carriers create wind resistance and reduce aerodynamic efficiency. Use them sparingly.
Use Climate Control Wisely
Heating and cooling can impact fuel efficiency:
Park in shade: Park in shaded areas or use windshield sunshades to keep the interior cooler, reducing the need for excessive air conditioning.
Use air conditioning selectively: Use air conditioning at higher speeds and on highways, but consider opening windows at lower speeds to reduce fuel consumption.
Consider Carpooling and Public Transportation
Reducing the number of vehicles on the road is an effective way to save on gas:
Carpool: Share rides with colleagues, neighbors, or friends who have similar commuting routes.
Utilize public transportation: Explore public transportation options in your area, such as buses, trains, or light rail systems.
Embrace Alternative Transportation
Consider alternative modes of transportation for short trips:
Walk or bike: For short distances, opt for walking or biking instead of driving, promoting personal health and reducing fuel consumption.
Conclusion
By implementing these fuel-saving strategies, you can significantly reduce gas consumption and save money. Consistent vehicle maintenance, efficient route planning, smart driving habits, weight reduction, and mindful use of climate control contribute to increased fuel efficiency.
Additionally, exploring alternative transportation options and embracing carpooling or public transportation can further minimize reliance on gasoline. By adopting these practices, you not only save on gas expenses but also contribute to a greener and more sustainable future.
Grocery shopping is a necessity, but it can also be a significant expense for many households. However, with the right strategies and mindful planning, you can save money while still enjoying nutritious meals. In this comprehensive guide, we will explore thirty budgeting tips for grocery shopping, helping you stretch your dollars, make smart choices, and reduce food waste.
30 Tips for Budget-Friendly Grocery Shopping Experience
1. Create a Budget:
Start by setting a realistic budget for your grocery expenses. Consider your income, household size, and dietary needs to determine an appropriate allocation.
2. Plan Meals in Advance:
Map out your meals for the week, including breakfast, lunch, dinner, and snacks. This will help you create a grocery shopping list and avoid impulse purchases.
3. Make a Shopping List:
Write down all the items you need before heading to the store. Stick to your list and resist the temptation to buy unnecessary items.
4. Shop with a Full Stomach:
Avoid shopping on an empty stomach, as hunger can lead to impulsive and unhealthy purchases.
5. Compare Prices:
Compare prices across different stores or online platforms to find the best deals. Consider using price comparison apps or websites.
6. Shop in Bulk:
Buying non-perishable items in bulk can save you money in the long run. Be mindful of expiration dates and storage space.
7. Embrace Seasonal Produce:
Seasonal fruits and vegetables are often more affordable and fresher. Plan your meals around what’s in season to cut costs.
8. Clip Coupons and Use Apps:
Search for coupons in newspapers, magazines, and online platforms. Utilize grocery shopping store apps that offer digital coupons or rewards programs.
9. Purchase Generic Brands:
Generic or store brands often offer comparable quality to name brands at a lower price. Give them a try and see if you notice a difference.
10. Shop at Local Farmers’ Markets:
Support local farmers and find fresh produce at reasonable prices by visiting farmers’ markets. You might discover unique items and reduce transportation costs.
11. Avoid Prepackaged Foods:
Prepackaged and convenience foods tend to be more expensive. Opt for whole ingredients and prepare meals from scratch.
12. Minimize Food Waste:
Plan meals according to what you already have in your pantry and fridge. Properly store leftovers and use them in future recipes.
13. Take Advantage of Sales:
Keep an eye on weekly sales and stock up on items when they’re discounted. Just ensure you’ll use them before they expire.
14. Use Cashback Apps:
Explore cashback apps that offer rebates on specific grocery items. Scan your receipts and earn cashback rewards.
15. Shop at Discount Stores:
Consider doing grocery shopping at discount stores or warehouse clubs where you can find items at lower prices. Be cautious about bulk purchases and compare prices to ensure savings.
16. Don’t Shop Impulsively:
Avoid last-minute grocery shopping trips or wandering the aisles without a plan. Stick to your list and resist impulsive purchases.
17. Skip Packaged Snacks:
Snacks like chips, cookies, and prepackaged granola bars can be expensive and unhealthy. Opt for fresh fruits, nuts, or homemade snacks instead.
18. Prepare a Price Book:
Keep a record of commonly purchased items and their prices at different stores. This will help you identify the best deals and spot price fluctuations.
19. Freeze Excess Produce:
If you have surplus fruits or vegetables, freeze them before they spoil. Frozen produce can be used in smoothies, soups, or other recipes later on.
20. Join a Community Supported Agriculture (CSA) Program:
CSA programs allow you to receive fresh produce directly from local farmers on a regular basis. This can save you money while supporting sustainable agriculture.
21. Avoid Grocery Shopping on Busy Days:
Shopping during peak hours or weekends can be stressful and lead to rushed decisions. Choose quieter times to shop when you can take your time and make thoughtful choices.
22. Check Unit Prices:
Compare unit prices (price per ounce, pound, or liter) to determine the best value for money. Sometimes larger packages are more cost-effective, but not always.
23. Cook in Bulk and Freeze Meals:
Prepare larger portions of meals and freeze the leftovers in individual portions. This way, you’ll have ready-to-eat meals for busy days, preventing the need for takeout.
24. Try Meatless Meals:
Meat can be one of the most expensive items in your grocery budget. Incorporate more vegetarian or plant-based meals into your rotation to save money.
25. Utilize Loyalty Programs:
Sign up for loyalty programs offered by grocery stores to access exclusive discounts, promotions, or personalized deals.
26. Bring Your Own Bags:
Many stores charge for plastic bags or offer incentives for bringing your own reusable bags. Make it a habit to bring your own to save money and reduce waste.
27. Avoid Impulse Buys at the Checkout:
The checkout area is filled with tempting snacks and items. Stay focused on your list and avoid last-minute purchases that can quickly add up.
28. Monitor Expiry Dates:
Keep an eye on expiry dates to ensure you consume perishable items before they go bad. Properly organize your pantry and fridge to avoid waste.
29. DIY Cleaning and Personal Care Products:
Consider making your own cleaning supplies or personal care products using simple ingredients. This can save you money and reduce exposure to harmful chemicals.
30. Stay Mindful and Flexible:
Budgeting for grocery shopping requires discipline and adaptability. Be mindful of your spending habits, regularly review your budget, and make adjustments as needed.
Conclusion:
With these thirty budgeting tips for grocery shopping, you can take control of your expenses, save money, and make smarter choices. By planning meals, creating a shopping list, seeking out deals, and being mindful of waste, you’ll develop effective strategies to maximize your grocery shopping budget. Remember, small changes and conscious decisions can lead to significant savings in the long run, allowing you to maintain a healthy and economical lifestyle.
Non-Fungible Tokens (NFTs) have emerged as a significant phenomenon within the digital asset space, revolutionizing the way we perceive and trade unique digital assets. As the NFT market continues to expand, it is essential for investors to understand the various types of NFTs available and the factors to consider before diving into the NFT industry. In this comprehensive guide, we will explore different categories of NFTs and provide insights into key considerations for successful NFT investing.
Part 1: Understanding Different Types of NFTs
1. Art NFTs:
Art NFTs are digital representations of visual artwork, encompassing various forms such as paintings, illustrations, digital art, and sculptures. These NFTs enable artists to tokenize and sell their creations directly to collectors, providing provenance and ownership verification.
2. Collectibles NFTs:
Collectibles NFTs are digital items that replicate the concept of physical collectibles. They include virtual trading cards, in-game items, virtual real estate, and rare virtual assets. Collectibles NFTs often hold sentimental value and can appreciate in rarity and value over time.
3. Gaming NFTs:
Gaming NFTs refer to in-game assets, characters, skins, and virtual land that can be bought, sold, and traded. These NFTs enhance gaming experiences, enabling players to own and monetize their virtual possessions across different games and platforms.
4. Virtual Real Estate NFTs:
Virtual Real Estate NFTs represent ownership of digital land or virtual spaces within metaverses. These Non-Fungible Tokens (NFTs) enable individuals to build, create, and monetize virtual environments, attracting businesses and communities within the digital world.
5. Domain Names NFTs:
Domain Names NFTs tokenize internet domain names, making them unique digital assets that can be bought, sold, and traded. They provide ownership and authenticity verification of digital addresses.
6. Music NFTs:
Music NFTs represent ownership or rights to music tracks, albums, concert tickets, and other music-related assets. These Non-Fungible Tokens (NFTs) offer new avenues for artists to monetize their work, connect with fans, and provide unique experiences.
Part 2: Factors to Consider for Non-Fungible Tokens (NFTs) Investing
1. Rarity and Scarcity:
Consider the scarcity and rarity of the NFT you are interested in. Items with limited supply or unique attributes often have higher value potential.
2. Authenticity and Ownership:
Verify the authenticity and ownership of the NFT by examining the blockchain records, verifying the creator’s identity, and ensuring proper rights and licensing.
3. Artist Reputation and Market Demand:
Assess the reputation and popularity of the artist or creator behind the NFT. Artists with established profiles and high demand often attract more attention and potential value.
4. Utility and Interoperability:
Evaluate the utility and interoperability of the NFT within various platforms, metaverses, or ecosystems. Non-Fungible Tokens (NFTs) with broader applications and usability may have increased long-term potential.
5. Community and Engagement:
Consider the community and engagement surrounding the NFT project. Active communities, collaborations, and ongoing development efforts can contribute to increased demand and value over time.
6. Market Trends and Liquidity:
Stay informed about market trends, price movements, and liquidity within the NFT space. Understanding market dynamics and timing your investments wisely can be crucial for maximizing returns.
7. Legal Considerations:
Be aware of legal implications and potential risks associated with NFT investments, including intellectual property rights, licensing, tax obligations, and regulatory changes.
8. Technology and Blockchain Scalability:
Assess the underlying blockchain technology and its scalability. Consider the efficiency, transaction costs, and sustainability of the blockchain network
to ensure long-term viability and growth of the NFT ecosystem.
9. Due Diligence and Research:
Conduct thorough research on the NFT project, its team, roadmap, partnerships, and any associated risks. Stay informed through reputable sources, forums, and communities to make informed investment decisions.
10. Risk Management and Diversification:
As with any investment, practice risk management and diversification. Consider allocating a portion of your portfolio to Non-Fungible Tokens (NFTs) while maintaining a balanced investment strategy across different asset classes.
Conclusion:
The NFT industry offers a wide range of opportunities for investors seeking unique digital assets with potential value appreciation. Understanding the various types of Non-Fungible Tokens (NFTs), from art and collectibles to gaming and virtual real estate, is essential for navigating the market successfully.
Additionally, evaluating factors such as rarity, authenticity, utility, market demand, and legal considerations is crucial when making informed investment decisions within the NFT industry. By conducting thorough research, staying informed, and exercising prudent risk management, investors can position themselves for potential growth and success in the dynamic world of Non-Fungible Tokens (NFTs).
The Bitcoin Lightning Network has emerged as an innovative solution to address the scalability and transaction speed limitations of the Bitcoin network. By enabling faster and cheaper micro-transactions, the Lightning Network has gained significant attention from the Bitcoin community and businesses worldwide. In this comprehensive guide, we will explore the Bitcoin Lightning Network, its core features, benefits, and showcase companies that have embraced its potential for efficient and scalable payment solutions.
Part 1: Understanding the Bitcoin Lightning Network
1. What is the Lightning Network?
The Bitcoin Lightning Network is a second-layer protocol built on top of the Bitcoin blockchain. It aims to facilitate faster and cheaper transactions by creating a network of payment channels that can process transactions off-chain.
2. How Does the Lightning Network Work?
The Lightning Network utilizes multi-signature wallets and smart contracts to establish payment channels between users. Transactions can occur directly between these channels without being recorded on the main Bitcoin blockchain, allowing for instant and low-cost transactions.
3. Core Features and Advantages of the Lightning Network:
a. Instant Transactions: Lightning Network enables near-instantaneous transactions, reducing confirmation times from minutes or hours to milliseconds.
b. Scalability: By processing transactions off-chain, the Lightning Network significantly increases the scalability of the Bitcoin network, accommodating a high volume of transactions.
c. Lower Fees: Lightning Network transactions incur minimal fees compared to on-chain Bitcoin transactions, making micro-transactions economically feasible.
d. Privacy: The Lightning Network offers enhanced privacy since only the opening and closing transactions are recorded on the Bitcoin blockchain.
Part 2: Companies Utilizing the Bitcoin Lightning Network
1. Bitfinex:
Bitfinex, a popular cryptocurrency exchange, has integrated the Lightning Network to enable faster and cheaper Bitcoin deposits and withdrawals for its users.
2. Fold:
Fold is a platform that allows users to make Bitcoin payments and earn rewards at popular retailers. Fold’s integration with the Lightning Network enables instant, low-cost Bitcoin transactions at participating merchants.
3. Bitrefill:
Bitrefill is a service that enables users to purchase gift cards, mobile top-ups, and other digital goods using Bitcoin. The company leverages the Lightning Network to provide near-instant payment settlements and minimize transaction fees.
4. OpenNode:
OpenNode is a payment processor that facilitates Bitcoin payments for businesses. By utilizing the Lightning Network, OpenNode offers merchants fast and affordable payment solutions, enabling them to accept Bitcoin seamlessly.
5. Casa:
Casa, a Bitcoin self-custody provider, has integrated the Lightning Network into its services. Users can transact Bitcoin quickly and securely within the Casa ecosystem using Lightning channels.
6. BTCPay Server:
BTCPay Server is an open-source, self-hosted payment processor that allows businesses to accept Bitcoin payments. It supports Lightning Network payments, providing merchants with efficient and cost-effective payment processing.
Conclusion:
The Bitcoin Lightning Network represents a promising solution for addressing the scalability and efficiency challenges of the Bitcoin network. By enabling faster, cheaper, and more private transactions, the Lightning Network has attracted the attention of various businesses and industry players.
Companies like Bitfinex, Fold, Bitrefill, OpenNode, Casa, and BTCPay Server have embraced the Lightning Network’s potential, integrating it into their services to provide users with enhanced payment solutions. As the Lightning Network continues to evolve, we can expect more companies and platforms to adopt this technology, unlocking the full potential of Bitcoin as a scalable and efficient digital currency.
eToro is a popular online trading platform that allows users to buy, sell, and trade various cryptocurrencies, including Bitcoin. Here’s a short but detailed guide on how to buy Bitcoin on eToro:
Step 1: Sign up for an eToro Account
Visit the eToro website and sign up for a new account by providing the required information. Complete the registration process, including verifying your email address.
Step 2: Complete the Account Verification
To comply with regulatory requirements, you’ll need to verify your identity on eToro. Follow the instructions provided on the platform to submit the necessary documents for verification, such as a valid government-issued ID and proof of address.
Step 3: Deposit Funds into Your eToro Account
Once your account is verified, you’ll need to deposit funds to start buying Bitcoin. Click on the “Deposit Funds” button and select your preferred payment method, such as bank transfer, credit/debit card, or e-wallet. Follow the prompts to complete the deposit process.
Step 4: Search for Bitcoin (BTC) on eToro
On the eToro trading platform, use the search bar to find “Bitcoin” or the BTC ticker symbol. Click on the Bitcoin listing to view its details and performance.
Step 5: Place a Buy Order
After selecting Bitcoin, you’ll be taken to the Bitcoin trading page. Click on the “Trade” or “Buy” button to initiate a buy order.
Step 6: Specify the Investment Amount
Enter the amount of Bitcoin you wish to purchase or the amount of funds you want to invest. eToro allows you to buy fractional amounts of Bitcoin, so you can invest as much or as little as you desire.
Step 7: Review and Confirm the Trade
Double-check the details of your trade, including the investment amount, fees, and any additional options. Take a moment to review everything before proceeding. If you’re satisfied, click on the “Open Trade” or “Buy” button to confirm the purchase.
Step 8: Monitor Your Bitcoin Holdings
Once your buy order is executed, you’ll be able to see your Bitcoin holdings in your eToro portfolio. You can track the performance of your investment and sell your Bitcoin whenever you decide.
Important Considerations:
– eToro charges fees for trades and transactions, so be sure to review and understand the fee structure on the platform.
– Cryptocurrency investments, including Bitcoin, can be highly volatile and carry risks. It’s essential to do your own research and understand the potential risks involved.
– Consider utilizing eToro’s additional features like stop-loss orders or take-profit orders to manage your Bitcoin investment effectively if you plan on trading derivatives and other similar options.
Conclusion:
Buying Bitcoin on eToro is a straightforward process. Following this short guide, you can learn how to buy bitcoin on eToro step by step, sign up for an account, deposit funds, search for Bitcoin, and place a buy order. Remember to conduct your own research, be aware of the risks associated with cryptocurrency investments, and make informed decisions based on your investment goals and risk tolerance.
