5 Biggest Advantages of Cryptocurrency vs Fiat Money

Cryptocurrency has been making waves in the financial world for a few years now, and for good reason. The advantages of cryptocurrency over fiat money are numerous and significant, and we want to dive into the topic for those looking to gain knowledge of the space here at The Crypto Bull. In this blog post, we’ll explore five key advantages of cryptocurrency and how it is changing the way we think about money.

  1. Decentralization

One of the primary advantages of cryptocurrency is its decentralization. Unlike fiat currency, which is controlled by governments and central banks, cryptocurrency operates on a decentralized network. This means that there is no central authority controlling the currency or its value. Instead, transactions are verified by a network of users, and the value of the currency is determined by market demand.

This decentralization makes cryptocurrency more resistant to government intervention and manipulation. In countries with unstable currencies, cryptocurrency can be a more reliable store of value than fiat currency. Additionally, because cryptocurrency is not tied to any one country or government, it can be used for cross-border transactions without the need for currency conversion.

2. Security

Another major advantage of cryptocurrency is its security. Cryptocurrency transactions are secured through complex mathematical algorithms that make it virtually impossible to counterfeit or double-spend. This is in contrast to fiat currency, which can be easily counterfeited or stolen.

In addition to being more secure, cryptocurrency also offers greater privacy. Because transactions are conducted anonymously, users can make purchases without revealing their identity or personal information. This can be particularly useful for individuals who are concerned about their financial privacy.

3. Lower Transaction Fees

One of the most attractive features of cryptocurrency is its lower transaction fees. Unlike traditional banking systems, which often charge high fees for transactions, cryptocurrency transactions typically have very low fees. This is because there is no need for intermediaries, such as banks or payment processors, to verify transactions.

This lower cost makes cryptocurrency an attractive option for small businesses and individuals who may not have the resources to pay high transaction fees. Additionally, because cryptocurrency transactions are typically processed quickly, businesses can receive payments faster and more efficiently than with traditional banking systems.

4. Accessibility

Cryptocurrency is also more accessible than fiat currency. While traditional banking systems can be difficult to navigate for individuals who don’t have access to traditional financial institutions, cryptocurrency can be easily accessed from anywhere in the world with an internet connection.

This accessibility can be particularly useful for individuals living in countries with unstable currencies or limited access to traditional banking services. Cryptocurrency can provide a way for these individuals to store value and conduct transactions without relying on traditional financial systems.

5. Transparency

Finally, cryptocurrency offers greater transparency than traditional financial systems. Because transactions are recorded on a public ledger, anyone can view the details of a transaction, including the amount, the sender, and the recipient.

This transparency can help to reduce fraud and corruption by making it more difficult for individuals to engage in illegal activities such as money laundering. Additionally, it can help to build trust between individuals and businesses by providing greater transparency into financial transactions.

Conclusion

In conclusion, cryptocurrency offers numerous advantages over fiat currency. Its decentralization, security, lower transaction fees, accessibility, and transparency make it an attractive option for individuals and businesses around the world. While there are still challenges to be overcome, such as regulatory hurdles and market volatility, the potential benefits of cryptocurrency are too great to ignore. This has been evident in the steady increase of both value and number of investors who are buying into the market; particularly with Bitcoin (BTC) and Ethereum (ETH). As technology continues to evolve, it will be interesting to see how cryptocurrency continues to shape the future of finance.

Best Apps to Save Money in 2019

Bitcoin has recently spiked to above $5,000 USD, and this has given the crypto community something to get excited about after months of stagnation. Some believe that Jamie Dimon’s announcement of JP Morgan’s crypto-backed stable coin has the markets jumping while other’s believe whales are moving the needle. Although investing in crypto is an exciting and fun space, we wanted to highlight some other ways to diversify your investments and continue to earn money in 2019 and beyond.


Cryptocurrencies today make up just a small portion of the worlds total monetary wealth. While we are certainly believers in the technology and capabilities of the blockchain space, fiat money is the currency of choice today. That being said, here are a few tools that can help you build your personal wealth:

  • Robinhood is an exceptional platform that empowers you to invest in stocks, ETFs, and cryptocurrencies right from your phone or computer. The best part is that there are no fees and no commissions; and they’ll gift you a free stock when you sign up today!

  • Acorns is a nifty application that helps you save money everyday by rounding up loose change from your purchases and investing it directly into an ETF for you. You can also choose to set monthly investments to continue to build your personal wealth. Acorns is even offering $5 USD for free just to get started! (Learn More)

  • Titan is a cool new app that offers access to invest in their hedge fund for any and all investors. Typically, hedge funds offer sophisticated high risk, high reward investing strategies; but access for average joe investors has not been easily available until Titan. They’ll even reduce your fees by 25% to join the platform .

  • Chase Bank is one of the largest banks in the United States, and they offer a full range of banking services from checking accounts to savings accounts and beyond. Chase has an easy to use and highly functional banking app, and they are offering $200 to anyone who opens a new account or switches over to Chase. (Learn More)

Many of these offers are for a limited time only, so make sure to sign up soon if you are looking to build your wealth. These tools offer intuitive and enjoyable ways to invest and protect your money, and we hope you will enjoy using them! Here is to a bright 2019!

To keep up to date with the financial markets of the fiat universe, The Morning Brew is an excellent daily brief. It’s totally free and will help you to stay informed with an easy to digest daily email. Feel free to sign up here if that sounds useful to you.

The Top Google Trends around Bitcoin and Cryptocurrency

Over the past year, Bitcoin and Cryptocurrency trading exploded onto the scene. Crypto millionaires were made overnight, memes of crypto traders flooded the internet, and many foresaw no end in site. A plethora of cryptocurrencies rose to prominence including Ethereum, Neo, IOTA, Cardano, NANO, and many more; all touting unique capabilities and keen differences in the decentralized movement. Popular cryptocurrency exchanges such as Bittrex and Binance also rose to prominence during this time.

During the month of December in 2017, the total cryptocurrency market cap doubled from ~$300bn USD to over $600bn USD. Since this time, the hype has died down, and prices of Bitcoin and other cryptocurrencies have come back to earth. Many ‘no coiners’ have exclaimed that the bubble has burst, and the total market cap of all cryptocurrencies has hovered around $250bn USD the past 3 months. Bitcoin’s current price is $6,684 USD, which is still a massive %1,012 increase from it’s price of $601.71 USD two years ago today.

At Crypto Bull, we wanted to try and gauge the global interest in Bitcoin and other cryptocurrencies over the past year. Naturally, we turned to Google to find out just how interested people were. Using Google Trends, we can take a look at some of the global search volume on a variety of topics below:

Google Trends Results comparing global search volume of Bitcoin, Cryptocurrency, and Ethereum.

Google Trends Results comparing global search volume of Bitcoin, Cryptocurrency, and Ethereum.

It’s pretty clear from the results above that the hype which gained momentum through the second half of 2017 has since faded. It is also not surprising to see that far more people are Googling ‘Bitcoin’ than either '‘Ethereum’ or ‘Cryptocurrency’; regardless of the timing. We were curious to see which global regions were searching for Bitcoin the most, and below you can see this data:

Interest by region for Google Queries of Bitcoin, from Google Trends.

Interest by region for Google Queries of Bitcoin, from Google Trends.

The top 5 above are interesting, and each of these countries certainly qualify as being hotbeds for Bitcoin interest. Some other popular cities that appear on the list of regions that have often Googled Bitcoin over the past year include Canada (8), United States (12), United Kingdom (17), Germany (18), Israel (23), Hong Kong (29), India (37), Brazil (41), South Korea (51), and Russia (60). It is important to remember that not every country uses Google as their primary search engine. For instance, a leading search engine in China is Baidu, Japan uses Yahoo! Japan for a large portion of their queries, and the Yandex is more popular than Google in Russia (statistics from www.returnonnow.com).

Although the trends behind internet searches of Bitcoin and Cryptocurrencies have slowed since the cryptocurrency frenzy, one thing is for sure: more people are aware of Bitcoin’s existence today than they were a year ago today. This is an important accomplishment in the movement towards more decentralized global economic system. Many Fortune 500 and Global 1000 companies around the world have announced blockchain initiatives, and Amazon’s AWS now support blockchain templates for developers. No one knows what the future of Bitcoin is, but there is a growing number of people around the world who see value in blockchain technology and decentralization. What a year it has been, and it will be exciting to see what the coming year has in store!

🇬🇧Looking for a safe cryptocurrency broker in the United Kingdom? Check out the UK’s most trusted broker, BC Bitcoin! BC Bitcoin caters to traders of all sizes and represents the interests of an extensive network of Institutional, Professional and Retail investors!

Crypto Bull cannot be held responsible for any losses incurred in investments. The content of this site is not meant to be financial advice and is only opinion. Any transactions made in the space should be carefully approached and considered.

The Beginners Guide to Buying Cryptocurrencies

So, you are tired of sitting on the sidelines during the Cryptocurrency frenzy while your friends are constantly bragging about how much money they are making in Bitcoin, Ethereum and hundreds of other Cryptocurrencies…. but you just don’t know where to start?

You have come to the right place, this is a beginners guide on how to purchase Cryptocurrencies!

Before you proceed, make sure you don’t put any more money into this than you are willing to lose. Research the technology, understand the importance of it and it’s potential to change the world... but also understand the fact that this is still a highly speculative investment that is often considered a bubble.

STEP 1: USD → Cryptocurrency

The process starts by transferring USD into Bitcoin(BTC), Ethereum(ETH) and Litecoin(LTC). The fastest way to do this is via Coinbase. You can download the Coinbase App or create an account on their website. BEWARE, there is a 5% fee on all transfers you make from USD to Coinbase. The solution to avoiding this fee is Gemini, but it will take you a couple of days to get set up, as Gemini takes a bit longer to verify your ID. Gemini is an FDIC insured platform and to get started,  you can go online and set up an account, allowing you to buy in with no fees. You need to input identification verification to set up your account which will limit to $500 a day. If you further the ID verification and add your license in settings, you can get much higher limits. These are solid coins to hold for novice investors. If you are looking to trade Altcoins, you will need to transfer to an exchange, like Bittrex for example. This requires more technical know how and you should proceed with caution...

STEP 2: Cryptocurrency → Cryptocurrency Exchange

First, you need to create a Bittrex account, when you are making this account be sure to remember your password, if they give you any other info that they say to keep, document it (don't want to forget password or account details).  Also, after making an account It is recommended that you go to your settings and enabling 2-factor Authentication, for added security. You can do this in account settings on Bittrex and just have to download Google Authenticator on your phone to do so. Make sure to save your backup key when you set this up as well, or else losing your phone will make a headache for you.

After this, you need to send your cryptocurrencies from your wallet to Bittrex, let’s say you are using Coinbase. You can do this by sending Bitcoin, Ethereum, or Litecoin from your Coinbase wallet to your Bittrex wallet. Ensure that you send the same coin to the same wallet address on Bittrex (Ex: you must sent ETH to an ETH wallet, BTC to a BTC wallet, and LTC to an LTC wallet. If you send BTC to your ETH wallet, it will be lost, etc...)  Same coin → same wallet. Got it?

Here are instructions on how to deposit coins into Bittrex (from Bittrex website):

"In order to deposit coins to Bittrex please follow these steps.

  1. Login and Click Wallets in the upper right hand of the site.

  2. Search for the wallet you are going to deposit to

  3. Click the + next to the wallet

  4. Click "new Address" to generate your address

  5. Please make sure to read the coins deposit instructions if they are available.  Some coins require a minimum amount to be sent before they are credited.  Some coins will require a message/payment/tag/memo.  This means you must send the coins to the address we provide and attach this message/payment/tag/memo to the deposit so we can route the coins to your account.  If you do not attach this, you will risk losing these funds

  6. You can now send your coins to this address.  Please make sure that you only send the same type of coins to this address.  This means if you generated a BTC address you deposit BTC to it and not some other coin.  if you deposit a different coin then what the address was generated for you risk losing these coins permanently"

Transfers can take a while sometimes, so don't fret because it wont go into the wallet immediately. It is recommended that you use Ethereum, as it is fast and all transactions on the Ethereum Blockchain can easily be viewed on etherscan.io. It is also recommended that you transfer a small amount before the whole amount, to ensure you are doing so correctly. Once your Ethereum arrives in your Bittrex wallet, you can begin to trade.

STEP 3: Proceed with Caution

Be warned, although Altcoins offer higher returns and the chance to ‘hit a moon’ they also present an opportunity to lose a lot of money, risk is a two way street. You should research projects heavily and invest in ones you believe in that have teams you believe in, judge results and progress on roadmap, read reddit...a lot (good advice lay deep in the comments section). Learn to HODL (Google search hodl) through the valleys and remember you never lose money taking profits. NEVER put more money into an account than you are willing to lose, and most of all - GOOD LUCK (:

 

Crypto Bull cannot be held responsible for any losses incurred in investments. The content of this site is not meant to be financial advice and is only opinion. Any transactions made in the space should be carefully approached and considered.