Led 30

Japanese Yen Overtakes the US Dollar in Bitcoin Trading

The Japanese Yen (JPY) has surpassed the USD in terms of worldwide bitcoin trading in the past 24 hours. 

Japanese Yen Tops Dollar

According to data from Coinhills, the JPY has officially overtaken the USD in terms of bitcoin trading throughout the world. A total of 490,925.45 BTC were traded against the JPY over the last 24 hours.

Data shows that 49.10 percent of the entire Bitcoin 00 trading volume for the last 24 hours has been exchanged against the JPY, while the USD accounts for 45.80 percent.

Together, both currencies account for as much as 94.9 percent of all fiat currencies in BTC trading. The Korean Won, the Euro, and the British pound round off the top five Bitcoin fiat trading pairs in terms of volume. Though these are dwarfed by JPY and USD, comprising less than 2 percent of the total volume each.

JPY/BTC has grown in popularity substantially over the last two months of 2018. In November, it accounted for only 21 percent of the BTC trading, compared to a solid 50 percent for the USD. But whether it will remain in at the top remains to be seen as Bitcoin price struggles to hold above $3,000.

What Changed?

In December, Bitcoinist reported on a study which claimed that Asia has more impact on Bitcoin price than America and Europe. The study cited major developments from Asia concerning cryptocurrencies, which had impacted the market by an average of 18.61 percent.

Thing are indeed moving fast in the East. Just a couple of weeks ago, one of Japan’s largest cryptocurrency exchanges, Coincheck, was registered with the Financial Services Agency.

Additionally, a new partnership was formed between Blockstream, Digital Garage, and Tokyo Tanshi, which will serve the Japanese Bitcoin market by launching a JPY-pegged stablecoin.

Furthermore, in October last year, the country gave formal approval for the cryptocurrency industry to regulate itself, substantially increasing the capabilities of the Japan Virtual Currency Exchange Association (JVCEA), which is now authorized to punish operators which fail to conform to the stringent safety regulations put by the local authorities.

What do you think about the Japanese Yen overtaking the Dollar in Bitcoin trading? Share your thoughts below!

Images courtesy of Shutterstock

Kvě 18

Bitcoin Price Stays Put, Can Traders Finally Relax?

Source: bitcoin

Bitcoin Price

Since our last bitcoin price piece, the markets haven’t gone anywhere. Presently, the price is hovering around $455, which is relatively unchanged from where it previously held ground. Bitcoin has found a comfortable place that it evidently enjoys, so we probably shouldn’t expect dramatic change any time soon.

Also read: Bitcoin Price Stagnates, What Happens Next?

Bitcoin Price Takes a Rest

But as one source puts it, things are set for a flash of the old gloom and doom:

“A price downdraft, today, has pulled the price to $454… Given the bearish indications in the 1-day and 1-week candle charts that were explored in last week’s analysis, there is also a high probability that the market eventually declines to $430… The bitcoin market’s capacity for slow torture may see the slow, upward strain continue for several more weeks… Bitcoin’s price range is narrowing as the market progressively trades price into the high-pressure corner of a contracting wedge… The technical analysis outlook remains that price will most likely unfold a downward correction…”

One troublesome side effect that seems to come with being a Bitcoin enthusiast is that you learn to expect (and thereby prepare) for the worst. This isn’t always a bad trait; after all, it keeps us on alert. We’re ready for when things get rough, and when that day comes, we’re far from being like a family of deer in the headlights.

However, maybe the time has come to relax a little. In our previous price piece, one user explains:

‘What’s wrong with Bitcoin having a stable price? We wouldn’t like it if the value of a dollar kept jumping all over the place. A loaf of bread could be $2 one day, and $5 the next. Stability is what bitcoin needs to make it a currency and not a commodity.’

Interesting words indeed, and this user certainly has a point. Despite being eight years old, bitcoin still needs little breaks here and there to make its bones and develop a steady future for itself. Things cannot be 24-hour ascension. We’d certainly like that, but the fact is, such an idea is unrealistic. Things need time to patch themselves up. Time is necessary to heal wounds and fix mistakes, and considering the fluctuations bitcoin has endured in the past, a little stability really wouldn’t be so terrible. How can bitcoin ever truly be taken seriously as the currency of the future if it can’t learn to step back and smell the roses here and there? How can regulators ever look at bitcoin as something that’s less problematic if it can’t focus and stay still for a moment or two?

Ironically, this user’s words also seem to bear a sense of foreshadowing. One of today’s biggest headlines is rising inflation rates in the United States. In fact, they’re the highest they’ve been in about three years. Maybe USD can learn a thing or two from Bitcoin after all…

Will Bitcoin stay as it is for a little while? Post your thoughts and comments below!

Images courtesy of City A.M., Bitcoinist.net.

The post Bitcoin Price Stays Put, Can Traders Finally Relax? appeared first on Bitcoinist.net.

Bitcoin Price Stays Put, Can Traders Finally Relax?

Úno 16

BTCBear: Trade Bitcoin With Security and Ease

Source: bitcoin


BTCBear is an international bitcoin exchange platform based in London. The company was founded by Casey Rush in August 2015 with the goal of providing a secure, high quality bitcoin trading experience. 

Disclaimer: This is a sponsored story. Bitcoinist is not responsible for this company’s products and/or services. 

Secure Trading With BTCBear

BTCBear offers a web-based trading service with  two advanced order forms: Market Order and Limit Order.

Market Orders are executed as soon as they are placed, allowing customers to buy or sell immediately at current market prices.

The two different kinds of Limit Orders customers can use on BTCBear are Take-Profit and Stop-Loss. The Take-Profit order automatically closes an open order when the exchange rate reaches a specified threshold. These orders are used to lock in profits when customers are unavailable to monitor their open positions. The Stop-Loss order is a defensive mechanism, helping protect against further losses, as well as avoiding margin closeouts. This order type automatically closes an open position when the exchange rate moves against the customer, falling to the levels specified by the trader.

BTCBear says:

“Your trading style will dictate the order type that best suits your needs, you can use Market Orders, Limit Orders (Stop-Loss and Take-Profit). A Market Order is executed immediately when placed, It is priced using the current spot, or market price. A limit order is an order to buy or sell a currency pair, but only when certain conditions included in the original trade instructions are fulfilled.”

In addition to advanced order forms, BTCBear has other interesting features. The first is called the “Redeem Code,” which lets users transfer USD and EUR to other people with an account with the exchange. Secondly, the company provides the “BTCBear eCode,” allowing its customers to send money to “friends, family and sellers,” making the process “easier than ever from [a] Bitcoin exchange platform!”

The bitcoin exchange also prides itself on providing its customers with a secure trading experience, using a combination of cold storage and two-factor authentication. According to BTCBear, 95% of all their bitcoins are kept in a cold storage wallet, and their database is backed up multiple times per day. Also, to protect customers, all member accounts are secured using Google two-factor authentication, which adds an extra layer of security against hackers trying to access someone’s account. Furthermore, people can make an account with BTCBear without any proof of address or identity verification, making this exchange more privacy-oriented than most of its competitors.

These features combine to form 4 selling points that BTCBear believes should make anyone want to choose their international bitcoin trading platform over anyone else:

  1. Secure offline Bitcoin cold storage
  2. Open an account quickly and easily. You won’t have to spend a lot of time filing agreements and sending documents to open an account. You can use BTCBear’s trading software to send and receive bitcoins without any proof of address or identity verification
  3. Easily deposit and withdraw money into an account with different methods with direct deposit buttons. Deposit money to an account anytime via online payment services such as Perfect Money, AdvCash, Payeer. BTCBear will also be adding OKPay, Payza and WebMoney to their list of supported payment services very soon.
  4. Different trading types.

The exchange accepts USD, EUR, bitcoin and litecoin for these services.

BTCBear believes that these mixture of secure and high quality trading features makes their platform a contender in the world of bitcoin trading. If you would like to learn more about BTCBear or possibly open an account with them, you can visit their website here.

What do you think about BTCBear? Let us know in the comments below!

The post BTCBear: Trade Bitcoin With Security and Ease appeared first on Bitcoinist.net.

BTCBear: Trade Bitcoin With Security and Ease