31 October 2022 marked exactly 14 years since Satoshi Nakamoto first described his new idea for peer-to-peer electronic cash in the Bitcoin white paper, which he announced with a post on the Cypherpunks Mailing List. Since then, blockchain technology has grown into a thriving, trillion-dollar industry. But how did it all get started, what have been some of the milestones along the way – and what might the future hold?
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If you’ve spent any time at all in the crypto world, you’ll know that trading and price speculation is a huge part of the ecosystem. After all, cryptocurrency is a new class of financial asset. Bitcoin has arguably been the best-performing asset of the last decade, and is responsible for minting tens of thousands of new millionaires. Some of these people have made their money by short-term trading, some by carefully positioning themselves and holding for the long run. So, what do you need to know about markets, exchanges, trading and investing to build wealth in crypto?
2022 has been a brutal year for bitcoin. Following the all-time high of $69,000 on 10 November 2021, BTC has crashed to a low of $17,593 – losing almost 75% of its value. Along the way, it has suffered its worst month (June: -45%), worst quarter (Q2: -56%), and worst half-year (H1: -59%) ever. So, why would anyone want to buy bitcoin in 2022? While the world's biggest cryptocurrency failed to impress so far this year, this might be the perfect opportunity to buy Bitcoin.
In the early hours of Thursday morning (UTC), Ethereum hit a long-awaited milestone as mainnet merged with the Beacon Chain, completing the network’s transition from proof-of-work to proof-of-stake. The Ethereum Foundation has described the Merge as "the most significant upgrade in the history of Ethereum", and it does have huge implications for the future of the world’s first and largest smart contract platform. However, equally important is what changes the Merge does not bring – and what development goals still lie ahead.
Launched in 2015, Ethereum is now home to the largest ecosystem of decentralised financial applications and other projects in the blockchain space. But despite its capabilities, Ethereum has limitations that prevent its widespread usage. Thus, Ethereum is preparing a far-reaching series of improvements to the network that will see it move to a proof of stake (PoS) consensus model as it merges with the Beacon Chain, or Consensus Layer, which will in turn enable future upgrades. Here is everything you need to know about the upcoming Ethereum Merge and future upgrades.
Digital nomads combine remote work – whether freelance or permanent – with travel, making the world their office. Cryptocurrencies offer particular benefits to these digital nomads, giving rise to a new trend of ‘crypto nomads’, who work in the blockchain sector and rely on digital cash to fund their lifestyles – helping them enjoy the freedom of working away from home without the downsides.
Altcoin Season is the name given in crypto circles to a period of time when altcoins make significant gains against bitcoin. It’s typically a point in the market cycle when large profits are generated for lucky or savvy holders, with some alts making gains of 10-50x in a matter of weeks. Alt Season isn’t always easy to spot in advance, but it’s well worth keeping your eyes open for signs that the market might be turning in favour of smaller-cap coins.
When buying and selling crypto on an exchange, there are generally two types of order you can place: Limit orders or Market orders. If you’re using TimeX’s Convert feature, there’s no need to worry about these order types. But if you’re using Advanced mode, you’ll need to understand the differences between Limit and Market orders and place the right one for your needs. The basic difference between the two options is that a limit order gives you a guaranteed price, while a market order gives you guaranteed completion.
Crypto has a reputation for facilitating money laundering and illegal activity. While, like any currency, cryptos can be used for illicit purposes, the problem has been significantly overstated – and there are good reasons why criminals would want to avoid using the blockchain, which provides a permanent and transparent record of all their transactions.
Web3 operates on a completely different model to Web2, which is run and owned by corporate behemoths like Facebook and Google. The decentralised paradigm puts users in full control and cuts out the middlemen who hold so much power. But these differences also bring significant challenges, with users solely responsible for their own data and no authorities who can reset your password or reverse transactions made in error. Follow these five principles to keep your crypto safe when using Web3.
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