Kategorie: Bitcoin News

Looking for a good cryptocurrency exchange where you can invest in cryptocurrencies, especially in Europe, can be quite a challenge. There are many scams now claiming to offer crypto exchange platforms while in actual sense they are after stealing your hard-earned money.

We have done a comprehensive review of the Coinmate exchange to find out if it is legit or not. To find out more about Coinmate’s pros and cons and how it works, please continue reading.

How Coinmate works

Coinmate is a cryptocurrency exchange that was founded in 2014. It is registered in London and focuses its operations in Europe, especially Eastern Europe.

To start out, you have to first open an account with Coinmate. You can choose to use BankID which is the fastest and safest way to sign up or choose to manually input your personal details.

Once you have an account, you can choose between “Trade” and “Quick Buy” or “Quick Sell” options.

The “Trade’ option allows you to trade various cryptocurrencies. You can access an order book, and charting containing crypto prices, the history of their transactions and an area where you can create new orders.

On the other hand, the “Quick Buy” option allows you to make easy and quick purchases of various cryptocurrencies at their market price while the “Quick Sell” option allows you to make easily and quickly sell cryptocurrencies.

Coinmate currently supports about eight cryptocurrencies. It supports Bitcoin, USDT, Ethereum, Cardano, Solana, Litecoin, Ripple, and Dash. It also allows the use of three main currencies to purchase cryptocurrencies which are EUR, CZK, and BTC.

Key features

Types of accounts: Coinmate offers three types of accounts: basic account, verified account, and VIP account.

Trading Fees: Coinmate uses the Maker/Taker model. The maker’s fee is 0.05% while the taker’s fee is 0.35%.

Withdrawal fees: The deposit and withdrawal fees depend on the payment method you choose to use. Depositing using vouchers or domestic Czech and Poland currencies is however free.

Deposits and Withdrawals: the available methods to fund your account depending on your account verification level. The first level, which is for the basic account allows the use of OkCoin, MoneyPolo, and Vouchers. For verified and VIP accounts, you can use OkCoin, MoneyPolo, Vouchers, SEPA, Sofort and standard wires.

Withdrawal limit: For the basic account, the daily withdrawal limit is €1,000. For the verified account, the limit is €5,000 while for the VIP account the limit is €12,500. You can however adjust the limit for the VIP account higher by requesting.

Customer support: Coinmate only offers one customer support method which is through email.

Security: Coinmate is quite secure since it has a three-tiered verification for all types of accounts. Depending on your verification level, Coinmate will require users to do a video call showing the authorities clicking the pictures of the necessary documents by themselves.

Coinmate Pros and Cons

Pros

It allows users to directly purchase cryptocurrencies using the EUR and CZK fiat currencies which is a great plus especially if you are from Eastern Europe.

Its trading fees are relatively low compared to some of the popular cryptocurrency exchanges.

Although it has focused more on Europe, Coinmate also allows people from other parts of the world to sign up and use its services.

It supports a wide selection of payment methods.

Coinmate’s user interface is simple to use making it a good choice even for beginners.

Cons

While Coinmate offers a great crypto trading experience, it offers a very limited list of cryptocurrencies.

The exchange does not have a dedicated mobile platform that can allow you to easily buy, sell, and trade cryptocurrencies while on the go. Its website is mobile-friendly and seamlessly fits the smaller screen of smartphones and tablets.

While Coinmate generally allows clients from any part of the world to register with them, the exchange does not accept customers from the US.

The only form of customer support on Coinmate is email, which takes about a day to get a reply. This can be quite demoralizing especially if you have an urgent issue.

Coinmate does not offer a wide selection of crypto investment options. It only allows for purchasing, selling and trading. It does not have services like staking or liquidity mining.

Why you should use Coinmate to trade crypto

If you are in Europe and want a simple crypto exchange that you can use to start investing in cryptocurrencies, then Coinmate could be a great choice. Besides, its user-friendly user interface, the exchange also offers a lot of useful information about cryptocurrencies through its blog.

You can also be able to purchase cryptocurrencies using the EUR or the CZK.

Final Verdict

Selecting a good crypto exchange can be quite challenging, especially in a market as volatile as the crypto market.

We however hope the above Coinmate review gives you some insight to help determine if Coinmate is a good fit for you.

The post Coinmate review: what you should know appeared first on CoinJournal.

Cryptocurrency prices have made a strong bullish recovery in the past few days. Bitcoin surged to over $20,000, which was the highest level since early this month. It has risen by more than 13% from the lowest level this month. Here are the best cryptocurrencies to buy as prices bounce back.

Ethereum

Ethereum price rose sharply this week. It managed to rise to a high of $1,556, which was the highest level since September 15. It has surged by more than 25% from the lowest point in September. 

Ethereum is a good cryptocurrency to buy because of its strong correlation with Bitcoin and its strong market share in key industries. For example, it has a strong stake in Decentralized Finance (DeFi) and Non-Fungible Token (NFT).

Ethereum has another catalyst. The developers are working on the next big update known as Shanghai which is expected to go live in 2023. The upgrade will bring new functionalities in the Ethereum Virtual Machine (EVM). It will also implement staked withdrawals. 

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

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Skilling

Skilling is a Scandinavian based cryptocurrency broker which has a desktop website as well as apps for iOS and Android devices. It supports over 50 cryptocurrencies and it has a demo account to allow users to gain familiarity with the platform. Skilling has no hidden fees, it is an officially regulated broker and it supports a wide range of payment methods.

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Cosmos ATOM

Cosmos is one of the biggest blockchain projects in the world. It makes it possible for developers to build quality interconnectedness applications. Some of the top apps in its ecosystem are Cronos, ThorChain, and Osmosis.

ATOM price has risen by more than 20% from its lowest point in October. The next key catalyst for Cosmos will be the upcoming launch of the second version of Cosmos. This version will introduce staking in its ecosystem and more functionalities. The most important functionality will be on liquid staking, which will help to secure other platforms.

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

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Skilling

Skilling is a Scandinavian based cryptocurrency broker which has a desktop website as well as apps for iOS and Android devices. It supports over 50 cryptocurrencies and it has a demo account to allow users to gain familiarity with the platform. Skilling has no hidden fees, it is an officially regulated broker and it supports a wide range of payment methods.

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Chainlink

Chainlink is a leading oracle network that makes it possible for developers to bring data from off-chain and on-chain. As such, it is widely used in decentralized finance (DeFi), where it is used by leading platforms like Aave and Uniswap.

Chainlink price has also risen by double-digits in the past few days as cryptocurrencies and DeFi rebound. Like with Cosmos, Chainlink has a catalyst that could push its price higher. First, its developers are working with Swift, the giant payment network.

Second, Chainlink price will also react to the upcoming launch of Chainlink 2.0. The new upgrade will change Chainlink into a decentralized oracle network (DON). As a result, it will become possible to power decentralized smart contracts on any blockchain. It will also introduce staking.

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

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Capital.com

Capital.com is a global broker which offers over 200 cryptocurrencies for its users. It comes with a range of features such as; great security, 24/7 support, demo accounts and a wide variety of assets. On top of that, it also has no inactivity, withdrawal or deposit fees, which makes it stand out from other crypto brands.

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The post Best cryptocurrencies to buy as Bitcoin price rebounds appeared first on CoinJournal.

Something which is always interesting is assessing the mining activity on Bitcoin, especially in conjunction with what is happening the price and the wider market.

After all, miners are the group who receive those freshly minted bitcoins as the blockchain continues to grow. Receiving this revenue in the native coin of the network means their actions can be indicative.

Something notable is happening at the moment though. The hash rate, which means the amount of computational power being spent by the Bitcoin network – i.e. the number of miners – is rising. And it’s rising a lot.

But at the same time, price is falling.

We are printing all-time high after all-time high in hash rate. The price, however, has cratered, before trading sideways over the last few months around this $20,000 level.

This is unusual. As the chart above shows, the last time we had a violent crash – May 2021 – the hash rate fell, too. This is natural – again, the revenue of these miners is Bitcoin, so why shouldn’t mining activity drop in response to a big price drop?

Instead, the hash rate – and the difficulty of the network – remains high. Most people say this is a good thing. And they’re right – the higher the hash rate, the more secure the network. And the more secure the network, the healthier Bitcoin is.

But does this make sense? Let’s look at this from an economic perspective. Are miners not selling as much as they should be? It seems as we crab sideways following this crash, miners are not letting up. You may point towards Ethereum’s switch to proof-of-stake in September as attracting more miners to Bitcoin, but the dates don’t really line up.

Let’s check if the miners are selling (graph via arcane research).

After the capitulation in the summer, they haven’t really been selling. But could this change soon?

I wrote recently about how I believe we could be one event away from a nasty red wick for Bitcoin. In looking at the underlying mining data, I get more nervous again. Again, this is far from certain – and more a hunch – but let us check the last time we had a hash rate rising with a falling price.

Mid 2018 this happened…and it wasn’t good.

Let us zoom in a little on this time period – the above chart is a bit hectic. In peering into the 2018 window, we see exactly how this same pumping price hash rate occurred despite the falling in price. And then look what happened the price in late 2018. 

So that’s worrying. And there are people pointing this out as a bearish indicator. But as anyone who follows my analysis knows, I am not exactly comfortable with extrapolating past Bitcoin cycles to today.

Yes, this happened in 2018. But look at Bitcoin back then. Had you even heard of it? Because many hadn’t   – it was still a niche asset, not yet making noise in the trad-fi world. Not to mention, the macro climate is entirely different today, with us squarely in a new interest rate paradigm. A point that should never be forgotten in looking at past cycles: none of those cycles happened while we were in the midst of a wider bear market in the economy.

But at the same time, it is not merely the fact this has happened before. For me, I am just a little puzzled that the selling of miners isn’t a bit higher here, or why the hash rate is mooning so aggressively.  

So, in conclusion, this indicator is not causing me to run for the SELL button. But I do like using mining data in conjunction with my wider analysis, and it is a curious happening. And as I wrote last week, I do fear that this crab motion around $20,000 could end with a red wick. It’s a psychologically important level, and once we break hard below it, there is not much resistance.

There are too many variables in the wider market that could easily go south, and Bitcoin has not given up too much since the contagionary wave of the summer – stocks have actually been worse. This underlying mining activity is not quelling those concerns, even if it is not accentuating it.

The post Are Bitcoin miners about to capitulate? appeared first on CoinJournal.

Bitcoin (BTC/USD) trades at $20,660 as of press time, the highest level in 6 weeks. The cryptocurrency had added an intraday of 7%. The gains were accompanied by a 157% jump in trading volumes.

Wednesday’s gains in Bitcoin come when investors have been calling for reversals at $19,000. That was after BTC looked to have bottomed at the level. There have been bull calls, going by insights data and analysts’ thoughts.

One factor used as a bullish indicator for Bitcoin is the US dollar index or DXY. In a session with his 278,000 YouTube followers, crypto analyst Jason Pizzino says DXY shows signs of exhaustion. The fatigue comes after a rally of more than 16% this year.

Pizzino says that DXY closed below the 50%-mark last week, an indication of bullish exhaustion. The analyst has earmarked 109 (points) as the probable lower top for DXY. The level will be the first lower top for DXY for a year. How will this point to a bullish market for Bitcoin?

Investors look at DXY as a gauge of the overall market. When the index weakens, it suggests that investors are developing a risk-on sentiment. As a result, they are moving their capital from the defensive dollar to risky assets like crypto.

Bitcoin pushes above moving averages as price overcomes tight trading

Source – TradingView

On the daily chart, Bitcoin has been trading within a tight range prior to Wednesday’s breakout. The breakout has seen the cryptocurrency break above the 20-day and 50-day MA, which trapped it.

An RSI reading of 65 shows that there are more buyers for the cryptocurrency. However, we are approaching the overbought level, which could usher in a correction.

Will Bitcoin continue to go higher

The current momentum looks sustainable for Bitcoin to the next resistance at $21,500 and further at $22,500. However, it must overcome the immediate and higher-up resistance zones for a sustained surge. An improved crypto sentiment could do much to help. Nonetheless, BTC price looks attractive for dip buyers at the current valuation.

Where to buy BTC

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

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Skilling

Skilling is a Scandinavian based cryptocurrency broker which has a desktop website as well as apps for iOS and Android devices. It supports over 50 cryptocurrencies and it has a demo account to allow users to gain familiarity with the platform. Skilling has no hidden fees, it is an officially regulated broker and it supports a wide range of payment methods.

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The post Bitcoin rallies to $20,000. Here is the next potential target appeared first on CoinJournal.

Bitcoin is trading above $19k, but Peter Brandt believes it will reach $13k in the near term before setting a new all-time high three years from now.

Peter Brandt, founder and CEO of proprietary trading firm Factor LLC, told CoinDesk TV in a recent interview that he believes Bitcoin will set a new all-time high in three years.

However, before it does that, Bitcoin will trade for around $13,000 first. Bitcoin has been underperforming since the start of the year.

Since reaching the $69k all-time high in November 2021, Bitcoin has lost more than 70% of its value. It has been trading below $20k in recent weeks but has maintained its price around the $18k-$19k level. Brandt said;

“We [will] just chop between … let’s say $17,000 and $23,000,” said Brandt. “I think we will bottom here at some point in time, maybe early next year, but then I’m not looking for bitcoin really to become exciting again for another couple of years.”

Peter Brandt is a technical trader that has been around since 1970. According to his predictions, it would take Bitcoin 32 months before it reaches a new all-time high again. 

There have been talks that the US Federal Reserve will halt its interest rate hiking. However, Brandt doesn’t see that happening and expects a 75-basis point increase on Nov. 2. This would be followed by another 75 bps increase on Dec. 14. He said;

“I think that the Fed knows that inflation is a killer. The Fed needs to regain its credibility. And to do that, I think the Fed really needs to bring inflation rates back down to at least 4%.”

The cryptocurrency market has been mirroring other traditional financial markets, including stocks and commodities, in recent months. However, Brandt said he believes Bitcoin’s performance will be unique in the long run. He added that;

“Bitcoin is going to be correlated with bitcoin eventually.”

The $13k bottom suggested by Brandt differs from his opinion two months ago. In August, he suggested that Bitcoin could have reached its possible bottom, with BTC trading at around $21k at the time.

The post Bitcoin will hit $13k before reaching a new all-time high in three years, says Peter Brandt appeared first on CoinJournal.