Though China can have a big impact on bitcoin since the largest hashrate in mining bitcoin comes from China and even the powerful mining hardware are also coming from China. The antminer series that are hot stuff on the market are made by bitmain which is located in China. Also the electric cost in mining in China is much cheaper compared to other countries. But even though that is the case even if China dumps all of its bitcoin and all miners in CHina stops mining and even if bitmain stops producing bitcoin mining hardware bitcoin will not stop. Other country will see this as an opportunity and will replace China, remember as long as there is profit companies will race to catch that opportunity.
True, China is kind of the ideal environment for Bitcoin miners in terms of electricity costs and mining pools. However, if China does dump its Bitcoin, it will negatively impact Bitcoin to such a degree that it could fail. Ultimately, this is an unlikely scenario but not completely impossible. You sound like you know a lot about crypto though. If you're into trading, you should check out Vertex.You can find loads of good offers on coins on the marketplace. |
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The Bitcoin USD market opened at $9,607 on 1st September 2019. By 30th September 2019, the price had fallen to $8,072 in what appeared to be a bearish market. This slump in price represents a significant drop since the beginning of the bullish trend of early Q2 2019. A report from the Binance research team notes that Bakkt was behind the Bearish month of September for Bitcoin. After the previous launch dates were shifted, the Bitcoin futures trading platform Bakkt finally launched on 23rd September 2019. The platform now opens shop for institutional merchants to trade Bitcoin in a secure and trusted system, according to its website. The Bakkt platform aims to offer a digital asset custody system that leverages on high level physical and cybersecurity technologies for custodial services. The platform also aims at enhancing other areas like the markets, payments systems, and compliance to provide a convenient platform for big players to enter into the Bitcoin and cryptocurrency ecosystem. What Did The Crypto Community Expect From Bakkt?The general opinion ahead of the Bakkt launch was that it will open up the industry to more adoption. The entry of institutional investors is expected to bring in some huge volume into the market. A development that most people believe will reflect in a more bullish market for Bitcoin and other cryptocurrencies. https://www.youtube.com/watch?v=4f7cMdYsuq0In contrast to what most crypto users had anticipated, a few days after the launch of Bakkt, the markets took a bearish turn from which it is struggling to stage a comeback. A section of the report by Binance Research, the exchange’s analytic arm reads: “Bakkt was touted by many "crypto-observers" as an additional primary channel to bring large institutional flows into cryptocurrency and digital asset markets. It may certainly still do so in the future, as illustrated by the CME futures sluggish start and subsequent pick-up in volumes. Short-term wise though, Bakkt’s disappointing start seems to have been a contributing factor to the recent price decline.” What Is The Prediction For Bitcoin?There is an overall bullish anticipation for Bitcoin in the coming months. A number of key factors suggest that the industry might be setting up for another significant run to the upside. https://twitter.com/vigorstablecoin/status/1180230462473719808The next Bitcoin Halving in due for May 2020 and the market behaviour has not deviated from its historical pattern. This has made many Bitcoin enthusiasts confident that holding an upside perspective is their best bet. Besides halving, other channels that would allow the influx of large volumes into the market are being lined up. An example of this is the confirmation of CME to launch Bitcoin options in Q1 2020. A lot of traders and investors, especially the very confident ones are seeing the present slump in price as an opportunity to build up their portfolios. Using a platform like Vertex.Market, buying Bitcoin and other cryptocurrencies is easy and straightforward. On Vertex, purchases can be done using bank transfer in an OTC marketplace. The platform’s high liquidity offer makes it possible to buy even high volumes of Bitcoin and other cryptocurrencies. Perhaps, what is playing out in the Bitcoin marketplace at the moment is the common market behaviour of “buy the rumour and sell the news”. In the short term, the after effect of the Bakkt launch may have given rise to a bearish market. This doesn’t take away the validity of an eagle-eye view of the market which appears to suggest an upward behaviour in Bitcoin USD price. All the same, everything seems to uphold the report by Binance Research that says Bakkt was behind the Bearish month of September for Bitcoin. https://medium.com/@official_83664/bakkt-was-behind-the-bearish-month-of-september-636d959265b5 |
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When did the People’s Bank of China prohibit Bitcoin transactions for Chinese banks, causing the BTC price to almost halve? (Hint: not to be confused with the ICO ban) a.) February 2016 b.) September 2017 c.) December 2013 d.) February 2018  |
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Many Bitcoin enthusiasts are of the opinion that cryptocurrency is unstoppable. The basis for this belief stems mainly from the decentralized protocol that maintains the Bitcoin network. From its original design, the distributed ledger of Bitcoin is maintained by participating computers from different parts of the world. A perceived alteration of this system is what has generated fear among many Bitcoin users. Some people even believe that the reason behind this fear is the one thing that could stop Bitcoin. There is a perceived original structure of the Bitcoin network, at least by the early adopters. This perception is that individuals across the globe will be able to run Bitcoin nodes and mine the cryptocurrency on their personal computers. This was the system in Bitcoin’s early days. However, because Bitcoin mining is now a competitive exercise, specialized equipment began to find their way into the industry. Can I Still Mine Bitcoin As An Individual?Gradually, mining Bitcoin with a regular PC became a wild goose chase. Within one decade of Bitcoin’s existence, miners have moved from PC, to GPUs, FPGAs, and today ASIC miners have dominated the industry. With time, what was expected to be a level playing ground with minimal entry requirements became more and more sectionalized. Unless you have an ASIC miner, it has become almost impossible for you to compete in the mining network. The competition did not stop there, as even among the ASIC hardware users, the bar has been raised. The fear of many Bitcoin users is that the regional balance of mining power has become chronically one-sided. Because of infrastructural availability and other fundamental factors, over two-thirds of the mining hashrate emanates from China. What this means is that most of the mining equipment within the Bitcoin network is installed in and around the Chinese region. Is China the one thing that could stop Bitcoin? https://twitter.com/PlattsburghBTC/status/1175970888006733826?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed&ref_url=https%3A%2F%2Fcdn.embedly.com%2Fwidgets%2Fmedia.html%3Ftype%3Dtext%252Fhtml%26key%3Da19fcc184b9711e1b4764040d3dc5c07%26schema%3Dtwitter%26url%3Dhttps%253A%2F%2Ftwitter.com%2Fplattsburghbtc%2Fstatus%2F1175970888006733826%26image%3Dhttps%253A%2F%2Fi.embed.ly%2F1%2Fimage%253Furl%253Dhttps%25253A%25252F%25252Fpbs.twimg.com%25252Fprofile_images%25252F638232680639823873%25252FZ60ZA2Of_400x400.png%2526key%253Da19fcc184b9711e1b4764040d3dc5c07Why Are Most Bitcoin Miners Located in China?Although Bitmain, the main manufacturers of ASIC miners, is based in China, other factors that attract most of the Bitcoin mining to the region include the cold weather and cheap electricity. While these are the infrastructural reasons for locating Bitcoin mining equipment in China, it only halfway explains why so much hashrate is concentrated within the region. The majority of the hashrate (over 70%) is shared among just a few mining pools and many consider this so contribute to why China could be the one thing that could stop Bitcoin. Here is why: Since Bitcoin mining has become very competitive, many independent miners find it difficult to carry out Bitcoin mining activities profitably. It became common that individual miners were running their equipment and consuming electricity without getting any rewards. The more efficient machines seemed to be taking all the money in the network. This gave rise to what we know today as Bitcoin mining pools. Individuals or groups are now pulling resources together to build gigantic mining farms. This results in more efficient machines that can mine blocks more frequently and the rewards are shared among the participants. https://www.youtube.com/watch?v=K8kua5B5K3IThe Bitcoin mining pool system has become so organised that an individual from any part of the world can simply subscribe to a Bitcoin mining company and their mining exercise. What interests us here is that the biggest of these companies and their Bitcoin mining farms are located in China. Technically, this looks like a structure that defeats the original design of a decentralized network. To worsen the case, it is happening in a region that is spontaneous with regulations and sanctions, as we’ve seen before. Why Is China So Powerful In The Bitcoin Industry?China has had a strong presence in the Bitcoin ecosystem, especially from the early days. Most of the big exchanges had strong bases in China, and the awareness of the technology in the region was second to none. The regulatory stampede on exchanges in the country in 2017 was a sudden move that did not necessarily come as a surprise. The socio-political atmosphere of China and the way its government executes economic policies is giving Bitcoin users reasonable concern. With about two-thirds of the Bitcoin mining hashrate based in China, it technically leaves the entire network at the mercy of the government’s policy makers. F2Pool, AntPool, BTCC, BW Pool are some of the biggest Bitcoin mining pools in the Bitcoin network, and are all located in China. It is also suspected that a reasonable share of the unknown pools within the network are also situated there. Although many Bitcoin users do not care too much about where the Bitcoins are mined, their concerns remain mainly on where to buy the mined Bitcoins. Platforms like Vertex.Market ( https://vertex.market) which offers peer-to-peer trading allows traders to stay within the original protocol of the network, and trade Bitcoin seamlessly with traders around the world. And the network’s protocol must not be neglected. Bitcoin is created as a decentralized peer-to-peer network. Anything that threatens this protocol will not be good for the cryptocurrency. Although many people seem not to be distracted by the lopsided regional hashrate allocation, there are those who really think that it is one thing that could stop Bitcoin. https://medium.com/@official_83664/the-one-thing-that-could-stop-bitcoin-3bb9da7c0772 |
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From the beginning, the Bitcoin network created by Satoshi Nakamoto was designed to be improved on with time. This is the major reason why it was released as an open source code. This is also why, down the road, we have had several forks of the original Bitcoin code, giving us many new cryptocurrencies. The essence of carrying out a Bitcoin fork is usually to create something new that addresses certain issues that the original network may not cover adequately. Here is the history of all the BTC hard forks that have been carried out since the creation of Bitcoin. What Is A Bitcoin Fork?The term fork is commonly used in the cryptocurrency industry. It describes the process where changes are made to an existing blockchain. The reason for making such changes could vary. In some cases, it is implemented to protect against a hack, and in other cases it is used to enable some unique qualities. There are two kinds of forks in the blockchain industry, soft fork and hard fork. These forks are individually defined by how they are executed and how much a blockchain is affected afterwards. https://www.youtube.com/watch?v=6LxsofIujcwA soft fork involves the modification of an existing blockchain. It requires a consensus agreement from the majority of the participating nodes in the blockchain network. This implies that all the participating nodes will update their software to remain relevant. After a soft fork, the blockchain continues to record transactions on the same chain. Past history is retained and the new protocol continues. A hard fork on the other hand creates a new blockchain altogether. Very often, this happens when the community of an existing network fails to agree on a particular proposal. Anybody or group can implement a hard fork. It does not require a consensus opinion, and there are several of such cases in existence today. With this in mind, let us now take a look at the history of all the BTC hard forks. Bitcoin XTThis is the first notable hard fork of the Bitcoin blockchain. It was initiated by Mike Hearn in 2014 with the purpose of increasing the network transaction speed. The feature added by Hearn was to make Bitcoin more scalable. While the original blockchain has the capacity of executing 7 transactions per second, Bitcoin XT was proposed to perform up to 24 transactions per second. To achieve this implementation the block size of Bitcoin XT was increased to 8MB, as opposed to Bitcoin’s 1MB. This fork gained some reasonable traction at the initial stage, but ran out of steam in a matter of months. Bitcoin ClassicNot too long after Bitcoin XT went quiet, a part of the Bitcoin community came up with another fork with a similar aim. Bitcoin Classic was forked out of Bitcoin Core in early 2016. The difference between this fork and the defunct Bitcoin XT was in terms of block size. Bitcoin Classic proposed a smaller block size of 2MB in comparison to the 8MB of Bitcoin XT. Just like the previous fork, after some early signs of success, Bitcoin Classic also faded in terms of popularity. The protocol still remains in existence, but with a diminished adoption level. Bitcoin UnlimitedDuring the period in the life of Bitcoin when the scalability argument was at its peak, a number of options were thrown into the mill. Bitcoin Unlimited became one of those forks. It is a proposal that did not restrict miners to a particular block size. Rather they could decide the size of their blocks, up to 16MB. This particular fork seemed to float in the background for a while without making any significant impact. It also sailed past without being significantly accepted. Segregated Witness (SegWit)In the history of all Bitcoin forks, it is important to note that almost all of the proposals revolve around making Bitcoin scalable and reducing transaction fees. These attributes are key towards Bitcoin and cryptocurrency becoming adopted in the mainstream. Segregated Witness (SegWit) is a proposal that suggested the separation of transactions on the Bitcoin network from the actual data. This proposal would allow transactions to occur more quickly, and their data updated later when the block is filled. SegWit was proposed as a soft fork, but the role that it played over the period when scalability was a big issue within the Bitcoin community, earns it a mention in this article. It led to other hard forks that followed. Bitcoin CashAfter SegWit was proposed, a segment of the community that opposed the proposal came up with what is known today as Bitcoin Cash. This particular proposal, among other features, allowed the blocksize to be increased to 8MB. The rate of transaction was also increased to 60 transactions per second, as opposed to Bitcoin’s 7 transactions per second. https://twitter.com/HoloIslandNews?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed&ref_url=https%3A%2F%2Fcdn.embedly.com%2Fwidgets%2Fmedia.html%3Ftype%3Dtext%252Fhtml%26key%3Da19fcc184b9711e1b4764040d3dc5c07%26schema%3Dtwitter%26url%3Dhttps%253A%2F%2Ftwitter.com%2Fholoislandnews%2Fstatus%2F1100048467781660675%26image%3Dhttps%253A%2F%2Fi.embed.ly%2F1%2Fimage%253Furl%253Dhttps%25253A%25252F%25252Fpbs.twimg.com%25252Fmedia%25252FD0Qn6KWW0AADTur.png%25253Alarge%2526key%253Da19fcc184b9711e1b4764040d3dc5c07Bitcoin Cash remains the most successful fork of Bitcoin at the time of writing. It is also the 4th biggest cryptocurrency in terms of market capitalization. The Bitcoin Cash project is championed by Roger Ver (a.k.a the Bitcoin Jesus) and a number of developers. Bitcoin GoldBitcoin has been criticized for becoming centralized. The main reason for this is because it has become extremely difficult for anyone to independently mine Bitcoins using a CPU or GPU. With specialized mining equipment, most miners pool assets together to form gigantic pools, with statistics showing that the majority of the pools are located in China. Bitcoin Gold was forked out of the Bitcoin Core blockchain in 2017 to return the industry back to its perceived original structure. Another improvement in the Bitcoin Gold network is that transactions are confirmed in 2.5 minutes. Four times faster than Bitcoin which has a 10 minutes transaction confirmation time. ConclusionBitcoin was created in 2009 as an alternative payment system. As stated in the beginning of this post, the original creator of Bitcoin did not insist that is was a finished product. Since then, the Bitcoin Core blockchain has experienced a couple of modifications, while many independent cryptocurrencies have been created. The adjustments and new creations all point towards an improved system that will encourage peer-to-peer transactions that do not rely on third parties. What we have covered so far are the first generation forks of the Bitcoin Core blockchain. There are second generation forks that have come to life from cryptocurrencies that were forked from Bitcoin Core. Examples are Bitcoin SV and Bitcoin ABC, both of which are forks of Bitcoin Cash. All of these forks and those of other unrelated blockchain can be purchased on trading platforms like Vertex.Market. We expect to see more hard forks happen down the road to add to the history of all the BTC hard forks that we already have. All of this will either be in the attempt of improving the existing products or the creation of purpose specific cryptocurrencies that will serve the community. https://medium.com/@official_83664/the-history-of-all-the-btc-hard-forks-8d8e43fabdb1 |
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Bitcoin has developed over a series of repetitive events, paramount among which is halving. The Bitcoin halving occurs roughly once every 4 years. It is an event designed to combat inflation, where the block reward for mining a block reduces by 50% from the previous cycle. The next Bitcoin halving event is a couple of months away and users are asking why Bitcoin is in short term accumulation stage before halving FOMO. https://youtu.be/p3K44SKfmNgWhat is the relationship between Halving and FOMO?The acronym FOMO is as popular among Bitcoin and cryptocurrency users as it is college students. It means “Fear Of Missing Out”. In the crypto sense, it is used to explain the behaviour of Bitcoin and cryptocurrency traders who attempt to position themselves ahead of an anticipated rise in price. Based on the historical behaviour of the Bitcoin price, users appear to behave in a certain way ahead of the Bitcoin halving. As mentioned above, every Bitcoin halving event reduces the amount in block reward by 50%. This happens roughly every 4 years and the ecosystem is getting set for the 4th halving in the life of Bitcoin. The estimated date for this is May 24th, 2020, at block number 630,000. Since the recovery of Bitcoin from the crypto winter of 2018, the Bitcoin price has spent a lot of time around the $10,000 region. The up and down movement has remained in a side-ways channel that is a typical characteristic of an accumulation. Analysts and experienced traders describe this behaviour as something natural for the pre-halving season. The price seems to stall, before embarking on a major rally during such periods. What Is The Implication Of The Bitcoin Halving?Several factors come into play when considering this behaviour, particularly the “Fear Of Missing Out (FOMO)”. This brings up the question: the Fear Of Missing Out on what? When the Bitcoin halving occurs, it means that the rate of introducing new Bitcoins into the marketplace drops by as much as 50%. From an economic perspective, this means a drop in supply which creates scarcity. The implication of this is that there will be a rise in demand, the result of which would mean a surge in price. Currently, the block reward for miners in the Bitcoin network is 12.5 BTC. By the next halving, it will become 6.25 BTC. Therefore, assuming that everything else remains the same, the demand will be expected to rise by 50%. But then, a lot of people expect that the demand of Bitcoin would be even greater, due to increasing awareness and adoption. Bitcoin Price PredictionsThere are bullish predictions already from top analysts suggesting that Bitcoin is in short term accumulation stage before halving FOMO. Rekt Capital predicts an increase within the range of 12,000% and 13,000% for Bitcoin after the next halving. This suggests that by the end of 2024, the Bitcoin price would be around $400,000. Another popular analyst known as Crypto Michael recently shared his opinion on his Twitter handle about what he thinks about the current Bitcoin price behaviour. He also made a prediction about how the next Bitcoin halving will affect the price of the leading cryptocurrency. https://twitter.com/CryptoMichNL/status/1171075957928710149?Based on his analysis, the next stop for Bitcoin will be around the $25,000 region, a price that he thinks will be achieved by May 2020. Hence, most traders are currently sitting on their hands and avoiding any form of selling pressure in a FOMO situation. Rather, traders are accumulating Bitcoin on platforms like Vertex.Market that make purchases easy and seamless. The peer-to-peer platform provides liquidity and a flexible trading environment for users to buy Bitcoin. At the moment, Bitcoin accumulation is very clear and obvious. The pioneer cryptocurrency is trading within a narrow horizontal channel, reflecting typical pre-halving behaviour. Many participants seem reluctant towards letting go of their holdings. For anyone willing to get into the market, the last quarter of 2019 appears to be a perfect opportunity in anticipation of the impending halving event. This also gives us an explanation as to why Bitcoin is in short term accumulation stage before halving FOMO. https://medium.com/@official_83664/why-bitcoin-is-in-short-term-accumulation-stage-before-halving-fomo-6dcf8ab27316 |
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You have a good list mate but honestly, I didn’t experience to buy bitcoin on all the things you’ve mentioned. Coins.ph is very popular here in my place and maybe you can also include this platform, its great and very easy to buy bitcoin. So many ways for newbies to buy bitcoin, i hope they see those platforms.
Coins.ph is a great suggestion. However, only as your first step into the world of cryptocurrency. For example, did you know that on vertex.market, once you have registered, you can create a sell offer for any cryptocurrency of your choosing with a custom premium or margin? You can buy Bitcoin and sell it on vertex.market for 10% profit (for example), no matter the market price volatility, vertex will automatically correct your selling price |
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I simply do not use any of the method mentioned above to buy Bitcoins. Buying and selling Bitcoin is most easy and secure on any P2P exchange for me. Localbitcoins is the most trusted P2P exchange for me to buy and sell Bitcoins. It provides me the facility of buy on sellers price or place my own bid to buy Bitcoins and vice- versa for selling BTC. It also provides with the trust ranking of all the users there to chose from and also payment is instant. I believe P2P exchanges are the most easiest way to buy and sell BTC currently.
If you are a fan of using LocalBitcoins, then vertex.market is defininatly an option you should be looking into. Picture using LocalBitcoins for not only Bitcoin, but 1200 additional cryptocurrencies, that is Vertex! If you dont like the fact that you have to connect on a personal level with every trader on LocalBitcoins, you will enjoy the streamline services Vertex provides, everything is handled automatically. |
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According to CoinmarketCap, Bitcoin dominance stands at exactly 69.7% at the time of writing. However, more critical analysis suggests that Bitcoin dominance is actually over 90%. This piece of information may come as a surprise to many, but let’s take a closer look and find out how this figure was arrived at. Bitcoin dominance refers to the ratio of Bitcoin capitalization to the overall market capitalization of cryptocurrencies. During the altcoin boom that characterized the days when ICOs were popular, Bitcoin dominance was much lower than what we have today. Until the beginning of 2019, Bitcoin dominance was around 33%. The turnaround in fortune suggests that funds are moving away from altcoins into Bitcoin. At least for the time being. https://www.youtube.com/watch?v=PRPp9nRZpqIBitcoin Dominance Is A Tool For Technical AnalysisThis price and market capitalization behaviour is a tool used by a lot of traders in the marketplace. Sometimes, it serves as a pointer towards what direction the big monies are moving. It is assumed that it is always safe to stay with the big monies when navigating the trading environment. Some traders put it this way: “The Whales control the Wave”. The idea that Bitcoin dominance is actually over 90% comes from a more critical analysis of the factors that determine valuation. Most crypto users derive their information about price, volume and market capitalization from websites like CoinmarketCap. The formula used by these platforms is simply a multiplication of price and circulating supply. A closer look will tell you that this system can be flawed because anyone can simply trade a premined coin for any price. Multiplying the price by the total supply will not give us a realistic value, since the coins aren’t serving any utility yet. Liquidity Is More Critical Than PriceThe argument for a different method of calculating market capitalization suggests that the liquidity of the cryptocurrency in question must be considered. This is the basis of the assumption that Bitcoin dominance is actually over 90%. Here is a summarized explanation of this idea: It is safe to say that every token that is being traded in the cryptocurrency market today depends on Bitcoin for a large percent of its liquidity. Almost all, if not every single token that is listed on an exchange has a Bitcoin trading pair associated with it. This places Bitcoin as a universal cryptocurrency. It is the lubricant that makes it possible to exchange many altcoins in the market. Take for instance, when trying to trade between altcoins that are not directly paired against each other in an exchange. What most traders do is to exchange the initial altcoin with Bitcoin, and then secondarily use the Bitcoin to purchase the second altcoin. This is a very regular occurrence on normal exchanges. This practice puts Bitcoin everywhere and contributes immensely to the high liquidity level. https://twitter.com/codeyisfun/status/1169621923812335616? Volume Provides Better Information Than PriceThe only platforms that provide direct exchange between altcoins are the more unconventional peer-to-peer platforms like Vertex.Market. Here, you wouldn’t need to go through multiple stages to fulfill your altcoin trades. It could even save you value in terms of time and fees. Considering how complex it could be to measure liquidity, the closest index that can be used is volume. Therefore, the trading volume of a given cryptocurrency, factored with the current supply should produce a better valuation. This method puts Bitcoin dominance over 90%, in comparison with the rest of the market. Bitcoin is known as the “Big Brother” of cryptocurrencies. It has sustained its leadership despite the various challenges that it has encountered along the way. As mentioned above, a significant part of Bitcoin’s huge demand is because other cryptos need it to survive. When this is put into consideration, we will tend to agree that Bitcoin dominance is actually over 90%. https://medium.com/@official_83664/bitcoin-dominance-is-actually-over-90-cdf244989368 |
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Have you tried to buy Bitcoin on Vertex 2.0 yet? Connecting you with traders around the world, Vertex is delivering a global peer-to-peer trading platform for your convenience. https://vertex.market/united-kingdom
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There used to be a time when buying Bitcoin was one of the most complicated processes on the internet. Then, you had to know the seller directly, or know an in-between who can carry out the trade with cash or pay to a bank account. The process used to be very manual and cumbersome. Despite all that, people still made efforts to acquire Bitcoin. Today, platforms like Vertex.Market have simplified the process by providing several automated options for users to buy Bitcoin and other cryptocurrencies. Listed below are the most popular payment methods to buy Bitcoin in 2019. Vertex has created a simplified process whereby Sellers can sell Bitcoin and other cryptocurrencies, accepting payment only through their preferred payment method. Likewise, Buyers can choose offers based on their preferred payment method. Therefore, the list below which shows the most popular payment methods to buy Bitcoin in 2019 includes the offers that are well represented on Vertex. PaypalPayPal is one of the most popular online payment systems. It is well adapted to suit online merchants and can be connected to users’ credit/debit cards. Paypal is widely used, but is restricted in some countries around the world. AlipayThis is an electronic wallet that enables fiat payments. It is also well adapted with online merchants. Most users of Alipay simply use the app on their devices to scan QR codes when making payments. Same applies when using it to buy Bitcoin. Wechat PayThis is a popular kind of electronic payment system in China. Wechat Pay has an eWallet similar to Alipay, only that this one is connected to the Chinese bank account of the user. This makes it somehow restricted to Chinese users only, or users that are affiliated to China. TWINTThis is a mobile payment app of Swiss origin. The TWINT app enables you to pay for products and services using your smartphone. All you need in order to buy Bitcoin using TWINT on platforms like Vertex is the ability to scan the QR Code, and a five-digit payment code. Others are your personal security settings like your password and PIN. Here is a short video of how to use TWINT: https://m.youtube.com/watch?v=WwerVn7ajbwPayTMThis is another system that made it onto our list of the most popular payment methods to buy Bitcoin in 2019. PayTM originated in India and remains a popular means of making payments over the internet in the Asian country. It is a versatile payment system that is being used in the region to settle all kinds of bills. People can now use it buy Bitcoin (on Vertex). NetellerThis is a payment method that is better known as an online transfer system. Many people use Neteller to send money across the globe. It is widely accepted in many countries and is one of the most popular methods to buy Bitcoin in 2019. SkrillLike Neteller, Skrill is also known as an online money transfer system. Over 20 million people are using Skrill around the world to send money. It is also adaptable as a payment system by merchants. It is common to find sellers requesting Skrill as a method of payment when selling Bitcoin. PayoneerHere is another electronic payment system that has grown in popularity recently. Many online transactions use Payoneer today as it is versatile and good for business. Many Vertex users advertise their sales to include their preferred payment method as Payoneer when selling Bitcoin. WebMoneyWebmoney was founded in 1998 and has sustained its relevance as an online payment system ever since. The platform was able to achieve this due to its ability to adapt to technological changes and evolve with the trend. The payment system was founded in Russia, but is popular in almost every part of the world. PayzaPayza was founded in 2012 in Montreal, Canada. Right now, the headquarters of Payza are in London. This payment system has spread to many parts of the world, including Africa and Asia. It has become a very popular payment method on Vertex for buying and selling Bitcoin. TransferwiseThis is one of the solutions that has encouraged borderless payment. With Transferwise, you can pay sellers in your local currency, and they get settlement in their own local currency. It is used by many people today to buy Bitcoin or any other cryptocurrency. RevolutThis is a payment method that is a little over 4 years. It seems like a purpose built system for a time like this. It is a UK fintech platform that offers banking services that extends even to cryptocurrency exchange. The platform’s mobile app supports spending and ATM withdrawals in 120 different currencies. Yandex MoneyThis is another product out of Russia. It has been around since 2002, and in 2016 a survey by TNS classified it as the largest electronic payment service. Yandex money serves for both individual and merchant payment. Many people are using this payment system to buy Bitcoin. Apple Pay CashThis is the native money of the Apple brand. However, its use goes way beyond the Apple platform. This kind of money is stored in the user’s Apple wallet and can be used to make payments online. People are using this payment method to buy Bitcoin. https://twitter.com/Vertexplatform/status/1168906430822453248Google PayThis is another payment method that was developed by one of the most popular brands on the internet. Also in this case, using Google Pay extends beyond the brand’s circle. It can be used to make payments on websites or through its mobile app. Again, many people are adopting this as a payment system to buy Bitcoin. VenmoVenmo is a mobile payment system that can only be used by people in the US. To be able to use Venmo to buy Bitcoin, both you and the seller must be based in the US. The payment app is a product of PayPal and is responsible for huge volumes of transactions that are taking place over the internet. Local Bank TransferThis is one of the most traditional systems for making transactions. Many Bitcoin sellers who want to be paid in fiat would use the local bank transfer system. It is a system that is popularly used on the Vertex platform. STC PayThis is an app that is used for transferring funds. It works in the UK and Saudi Arabia. If you want to buy Bitcoin and you are in any of these two countries mentioned above, the STC Pay could be a viable option for you. CryptocurrencyUsing other cryptocurrencies to buy Bitcoin is one of the most popular transactions that happens across exchanges. It happens during speculative trading and also when building a portfolio. Many people also follow this route when they want to extract value from those altcoins that cannot be traded with fiat directly. They use such an altcoin to buy Bitcoin first, and then sell the Bitcoin for fiat. ConclusionPlatforms like Vertex, an peer-to-peer marketplace, provide avenues to buy Bitcoin using any of the above listed methods. No matter your means of payment, or in what form your money is, chances are that you will find a suitable method that fits your circumstances among the list above. Very large volumes of Bitcoin change hands every day, and the methods of transactions that are used to execute these trades vary. The list above gives us a comprehensive compilation of the most popular payment methods to buy Bitcoin in 2019. |
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