10 Best Bitcoin Tumbler and Mixer Services in 2021

The invention of Bitcoin and cryptocurrencies in general is quite likely one of the most important events of our generation.

Unlike fiat currencies, Bitcoin is entirely decentralized and unregulated. Bitcoins are not issued by central banks or governments. Instead, their supply is controlled by the Bitcoin miners and the crypto community.

Before it exploded into popularity, Bitcoin was a popular medium of exchange used by individuals on internet forums and the deep web.

When transferring funds with fiat currency, a sender would need to disclose his/her personal information along with that of the recipient. Thus, making it impossible to remain anonymous.

Because Bitcoin is decentralized, it allows funds to be discreetly transferred from one address to another. All without having to reveal any personal information. This led to the belief that Bitcoin transactions are entirely anonymous and to its acceptance as a form of currency for individuals operating on the fringes of society.

This is more of a myth as Bitcoin is actually pseudonymous – meaning that while the identity of an individual is hidden, the address associated with Bitcoin transactions can still be traced. Hence why is it that Bitcoins are still so popular despite not being entirely anonymous.

The answer, ladies and gentlemen, lies with the function of Bitcoin Mixers and Bitcoin Tumblers.

What Exactly is a Bitcoin Mixer or Bitcoin Tumbler?

Imagine trying to piece together a jigsaw puzzle where all of the pieces are neatly arranged in a single container. Sound simple enough doesn’t it?

Now imagine putting together that same puzzle with the pieces of a hundred other different jigsaw puzzles – and somebody keeps emptying the container and adding new pieces in.

That is exactly how Bitcoin Mixers and Bitcoin Tumblers work. Transactions made using Bitcoin or any type of cryptocurrency are broken down into smaller pieces and scrambled together with other transactions. Hence making it nearly impossible to track and trace individual transactions – something which allows Bitcoin transactions to be truly invisible.

Credits: CreativeMarshall

Why Do You Need to Mix Your Coins?

It is sad to say that Bitcoin has become something of a victim of its own success. Given how cryptocurrencies have exploded in popularity, governments have begun taking a closer look into their proliferation.

As blockchain technology and cryptocurrency allow funds to be seamlessly transferred from anywhere around the world anonymously, tighter regulations are no surprise. Because of this, cryptocurrencies are no longer quite so anonymous anymore.

As was seen from the takedown of the Silk Road and other high-profile scandals, authorities around the world take a dim view of unregulated transactions.

While blockchain technology has the potential to change the world, this does not mean that cryptocurrencies are without their fair share of faults. It might be necessary to look into the future of cryptocurrency, as we mentioned before in a previous article.

The Legality of Bitcoin Mixers

There is indeed nothing illegal with making use of Bitcoin Mixers – however, you should be careful as to how your funds are being used.

If said funds have been used for illegal purposes i.e. money laundering, terrorism, etc, you would likely be charged with committing a crime.

Thus if you choose to use a Bitcoin mixer, always ensure that you’re not actually doing anything illegal.

Things That You Need to Take Into Consideration

Before you get started, always be sure to do your research and ensure that you use the services of a reputable Bitcoin Mixer or Tumbler. Also make sure to understand how cryptocurrency gains value by reading this article.

As you’d be required to transfer your Bitcoins to these sites, nothing could be worse than ending up falling victim to a scam.

Again, remember that the crypto industry is largely unregulated. If you lose your cryptos, you’ll likely have little to no legal recourse whatsoever.

To help you get started, let’s take a look at the 10 Best Trustworthy Bitcoin Tumbler and Mixer Services in 2021.

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10 Best Trustworthy Bitcoin Tumbler and Mixer Services in 2021

1. Bitcoin Laundry

Minimum Deposit Requirement: Yes

Service Fees: No

Support for Multiple Addresses: Yes

Registration Required: No

Referral Program: No

Currency Supported: Bitcoin only

Bitcoin Laundry offers a good number of features and has a no logs policy. To get started, you’ll need to deposit a minimum of 0.0015 BTC with no transaction fees charged. As an added plus, Bitcoin Laundry supports multiple addresses with a maximum of 5.

You won’t have to register to use this service – which is great for those who prize their privacy. However, the site does not offer a referral program.

2. Mixtum

Minimum Deposit Requirement: Yes

Service Fees: Yes

Support for Multiple Addresses: Yes

Registration Required: No

Referral Program: No

Currency Supported: Bitcoin only

Mixtum has a deposit requirement of 0.001 BTC and supports a maximum of 2 different addresses.

Registration is not compulsory but there is a service charge of 4 – 5% on the amount being transferred. For those with a need for additional privacy, Mixtum also accepts Bitcoins with a no log policy.

3. CryptoMixer

Minimum Deposit Requirement: Yes

Service Fees: Yes

Support for Multiple Addresses: Yes

Registration Required: No

Referral Program: No

Currency Supported: Bitcoin only

CryptoMixer only supports Bitcoin transactions and requires customers to deposit a minimum of 0.001 BTC.

Transaction fees range from 0.5 to 3% depending on the amount that is being transferred. This Bitcoin mixer supports multiple addresses and custom options (max of 10). Nonetheless, confirmation is required.

CryptoMixer does not have a referral program in place.

4. BitCloak

Minimum Deposit Requirement: Yes

Service Fees: Yes

Support for Multiple Addresses: Yes

Registration Required: No

Referral Program: No

Currency Supported: Bitcoin only

Another solid Bitcoin Tumbler option, BitCloak requires a minimum deposit of 0.01 BTC to be made but makes up for this with a lower transaction fee of 2% coupled with a 0.0004 BTC network fee.

Support for multiple addresses and customer options is provided with users required to provide confirmation for only 1 address.

While there is no referral program available, BitCloak does offer users with a letter of guarantee for their peace of mind.

5. BitMix

Minimum Deposit Requirement: Yes

Service Fees: Yes

Support for Multiple Addresses: Yes

Registration Required: No

Referral Program: Yes

Currency Supported: Bitcoin, Dash and Litecoin

What marks BitMix out from the crowd is the fact that this crypto mixer is able to process transactions for Bitcoin and Litecoin. There is a minimum deposit requirement for both Bitcoin and Litecoin.

The site is able to support a maximum of 5 multiple addresses with confirmation required for all addresses.

No site registration is required and there is a referral program in place. Additionally, BitMix can provide clients with a letter of guarantee.

6. ChipMixer

Minimum Deposit Requirement: Yes

Service Fees: No

Support for Multiple Addresses: Yes

Registration Required: No

Referral Program: No

Currency Supported: Bitcoin

Compared to other Bitcoin tumblers, ChipMixer stands out from the crowd thanks to the additional anonymity offered.

Users are given the option to split and merge coins into different wallets to various addresses. Additionally, ChipMixer provides support for unlimited addresses and does not require user registration.

Although only Bitcoin is supported and there are no referral programs, ChipMixer does not charge users with any service fees. With the option to donate BTCs being made available.

7. BitcoinMix

Minimum Deposit Requirement: Yes

Service Fees: Yes

Support for Multiple Addresses: No

Registration Required: No

Referral Program: No

Currency Supported: Bitcoin and Ethereum

BitcoinMix is unique in the sense that it offers support for both Bitcoin and Ethereum. The site does not require registration and has a minimum deposit requirement of 0.2 BTC.

Transaction fees range from 2 – 5% depending on the amount that is being transferred. There is no referral program offer for BitcoinMix and multiple addresses are not supported. Finally, letters of guarantee are not provided.

8. PrivCoin

Minimum Deposit Requirement: Yes

Service Fees: Yes

Support for Multiple Addresses: Yes

Registration Required: Yes

Referral Program: Yes

Currency Supported: Bitcoin, Ethereum, Bitcoin Cash, and Litecoin 

Supporting multiple types of cryptocurrency, PrivCoin is one of the most flexible Bitcoin tumblers available today.

Besides requiring a minimum deposit, service fees are charged, and users are required to register to use this site.

Referral programs are also on offer along with support for multiple recipient addresses (max 10).

9. SmartMix

Minimum Deposit Requirement: Yes

Service Fees: Yes

Support for Multiple Addresses: Yes

Registration Required: No

Referral Program: Yes

Currency Supported: Bitcoin and Bitcoin Cash

SmartMix is a Bitcoin mixer that processes Bitcoin and Bitcoin Cash transactions. The site offers a referral program for new users and supports multiple recipient addresses.

Transaction fees start at 0.5% plus an extra 0.0001 BTC for each extra address added.

10. Bitmixer.io

Minimum Deposit Requirement: Yes

Service Fees: No

Support for Multiple Addresses: No

Registration Required: No

Referral Program: No

Currency Supported: Bitcoin only

In the past, Bitcoinmixer.io was one of the most popular Bitcoin mixers available in the cryptocurrency world.

The first of its kind, this bitcoin mixer was shut down temporarily before returning to limited service. Nowadays, Bitmixer.io is primarily used to facilitate anonymous individual transactions.

Final Thoughts

Bitcoin mixer and tumbler services provide crypto enthusiasts with a vital service. In a time where our privacy is increasingly under threat, it is more important than ever to ensure that our anonymity is protected at all costs.

To keep your anonymity don’t forget to invest in a text app that is fully encrypted and safe. That’s why Tezro app is the best option for you.

Top 12 Bitcoin Documentary Movies To Watch in 2021

The cryptocurrency revolution has taken the world by storm. With price fluctuations hitting new highs every day, even the most risk-averse of investors would be tempted to give Bitcoin a try.

However, before jumping in with both feet you may want to sit back and actually try to understand what Bitcoins and cryptocurrencies are all about.

While we could explain the principles of blockchain technology and crypto, chances are you’d have a far more enjoyable time watching a cryptocurrency documentary instead.

Forget about the thousands of self-described crypto experts on the market who claim to have finally unlocked the secrets of the blockchain. What you’re looking for are documentaries that give you the lowdown on cryptocurrency, the blockchain, and it’s potential.

Now that we’ve gotten all of that out of the way, it’s time to get comfortable and settle down with a drink and a snack because we’re delving into the 12 best bitcoin documentaries you can watch this 2021.

Credits: A Crypto Block

1. CRYPTOPIA – Bitcoin, Blockchains and The Future of the Internet

Release Date: 2020

Runtime: 1 hr 26 min

Synopsis:

Written and directed by Torsten Hoffman, this documentary explores the evolution of Bitcoin and blockchain technology over the years. Hoffman also directed the award-winning documentary; Bitcoin: The End of Money as We Know It.

Along the way, Hoffman poses the question; what does the future hold for cryptocurrencies and how will a network of decentralized currencies change the way we work, play, and use the internet.

CRYPTOPIA – Bitcoin, Blockchains and The Future of the Internet has clinched numerous awards and was nominated for best cinematography at several film festivals.

Why You Should Watch This: 

Besides the excellent cinematography, director Torsten Hoffman takes a look at how blockchain technology and cryptocurrencies could possibly change the world and the future.

Find out more here about how cryptocurrency works.

2. The Rise and Rise of Bitcoin

Release Date: 2014

Runtime: 1 hr 36 mins

Synopsis:

The Rise and Rise of Bitcoin follows the journey of computer programmer and crypto enthusiast; Daniel Mross. Having discovered Bitcoin in 2011, Mross became enthralled with the digital currency strongly believing that Bitcoins are the currency of the future.

Seeking to spread awareness, Daniel and his brother Nicholas filmed this documentary in order to chronicle the rise of Bitcoin and to educate others. Throughout the course of the documentary, the two brothers meet with other crypto enthusiasts and key individuals.

Why You Should Watch This:

Although criticized for being overly optimistic, The Rise and Rise of Bitcoin is still very much worth a watch. Using animated visuals, this Bitcoin documentary helps viewers understand how blockchain transactions work.

3. Bitcoin — Shape The Future

Release Date: 2017

Runtime: 45 mins

Synopsis:

China has always been an avid adopter of new technology and Bitcoin is no exception. Produced by crypto trading services provider Bitkan, Bitcoin – Shape The Future explores the cryptocurrency revolution from China’s perspective.

Cryptocurrencies have by and large been extremely popular throughout the region despite close regulation from the authorities. This is a great watch for crypto enthusiasts eager to see how the cryptoboom has affected China.

Why You Should Watch This:

Crypto and Bitcoin documentaries in China are few and rare between. Shows such as Bitcoin – Shape the Future will give you a deeper insight into crypto tech in China and the various companies involved.

4. Bitcoin: The End of Money as We Know It

Release Date: 2015

Runtime: 1 hour

Synopsis:

From award-winning director Torsten Hoffman comes Bitcoin: The End of Money as We Know It. This Bitcoin documentary takes a look at the rise of Bitcoin and cryptocurrencies.

Along the way, Hoffman explores our relationship with money and why cryptocurrencies could actually be the future.

Why You Should Watch This:

Bitcoin: The End of Money as We Know It gives viewers a short and sharp insight into Bitcoin, how it works, and why it has the potential to change our system.

To explore further the history of cryptocurrency read our blog post about it.

6. Banking on Bitcoin

Release Date: 2016

Runtime: 1 hr 30 min

Synopsis:

Banking on Bitcoin explores the history of Bitcoin and that of its creator; the enigmatic Satoshi Nakamoto. The documentary then explores individuals involved in the crypto industry; from business owners to journalists and even former New York Superintendent Benjamin Lawsky.

Directed by Christopher Cannucciari, Banking on Bitcoin does not shy away from the darkside of the cryptocurrency revolution.

Events like the collapse of Mt.Gox and the Silk Road operation are also explored in depth. Find out more here about the greatest Bitcoin losses and collapses.

Why You Should Watch This:

Banking on Bitcoin examines the rise of Bitcoin from all angles through a neutral lens – a characteristic lacking in some Bitcoin documentaries. It also gives us insight into why cryptocurrencies have come as far as they have.

7. Bitcoin: Beyond the Bubble

Release Date: 2018

Runtime: 35 mins

Synopsis:

Looking for answers behind the curtain, Bitcoin: Beyond the Bubble explores the history of cryptocurrencies and its uses.

The documentary takes an in-depth look at the fundamentals of Bitcoin and how a decentralized currency is able to function in today’s world.

Why You Should Watch This:

Short, sharp, and direct to the point, Bitcoin: Beyond the Bubble shows us how cryptocurrencies function and challenges the long-term sustainability of a totally unregulated market.

Get the Tezro App

TEZRO is an all-in-one application for secure instant messaging and crypto payments, there is no need to have multiple chat applications or crypto wallets ever again. Your communication and finances are secure and encrypted under TEZRO. Try it now!

7. Deep Web

Release Date: 2015

Runtime: 1 hr 30 mins

Synopsis:

Deep Web takes us on a journey as we unravel the Silk Road, examine the politics of the deep web, and Bitcoin’s role in all of it.

The documentary follows the trial of Silk Road founder Ross Ulbricht and the events that led to his downfall.

Why You Should Watch This:

First of all, this documentary is narrated by the legendary Keanu Reeves. Secondly, the Deep Web goes beyond Bitcoin and instead explores the cryptocurrency’s role on the Silk Road.

How it was able to facilitate anonymous transactions and enabled for the smooth transfer of funds from anywhere around the world.

8. The Blockchain And Us

Release Date: 2017

Runtime: 31 mins

Synopsis:

Without the blockchain, there would certainly be no Bitcoins and no cryptocurrencies. In this documentary, director Manuel Stagars takes a look at the creation of blockchain technology and how it has the potential to change the world around us forever.

Stagars speaks to software developers, cryptographers, researchers, entrepreneurs and consultants to better understand what blockchain technology actually means for us.

Why You Should Watch This:

Simply put, The Blockchain and Us provides viewers with an in-depth understanding of how blockchain technology works.

It invites us to think beyond the boundaries of what we thought was possible.

9. Magic Money: The Bitcoin Revolution

Release Date: 2017

Runtime: 55 mins

Synopsis:

Since appearing on the scene, Bitcoin has raised plenty more questions then it has answered. An enigmatic founder who has never been seen in public and a decentralized currency that defies all government regulation.

Magic Money: The Bitcoin Revolution investigates the crypto revolution and Bitcoin’s latent popularity. The documentary also seeks to give us answers as to how a currency that only exists in the digital realm is quickly gaining traction all over the world.

Why You Should Watch This:

If you’ve ever had questions about how Bitcoins were developed or how the crypto economy works, this documentary is the one for you.

You’ll also gain insights into what the future holds for Bitcoins and other cryptocurrencies. Click here to read more about the future of Bitcoin.

10. Trust Machine: The Story of Blockchain

Release Date: 2018

Runtime: 1 hr 24 mins

Synopsis:

Traditionally, fiat currencies derive their value from the expectation that the issuing government will be able to fulfill its obligations. Being an entirely deregulated currency that is not issued by any one government, cryptocurrencies in theory should not be possible.

However, the crypto revolution has proven the pessimists wrong. In this cryptocurrency documentary, filmmaker Alex Winter examines how and why blockchain technology may be the answer to global problems such as poverty and hunger.

Why You Should Watch This:

While Trust Machine: The Story of Blockchain is more than a little speculative documentary, it does provide some impressive insights into the potential of blockchain and cryptocurrency technology.

Worth a watch if you want to better understand what the future could look like.

11. Bit x Bit: In Bitcoin We Trust

Release Date: 2018

Runtime: 1hr 17 min

Synopsis:

Blockchain and cryptocurrency technology is still poorly understood in our time. Because of this, sceptics and government authorities are reluctant to accept the integration of Bitcoin and other cryptocurrencies.

Bit x Bit: In Bitcoin We Trust seeks to rectify that by providing viewers with information related to Bitcoin’s development and history along with the role that it can play in the days to come. It’s not all sunshine and roses however, as the documentary also seeks to highlight the darkside of cryptocurrencies – such as the Silk Road drug marketplace and various scandals.

Why You Should Watch This:

If you’re looking for a balanced look at the pros and cons of cryptocurrency, then this is most definitely the documentary for you.

12. The Bitcoin Gospel

Release Date: 2015

Runtime: 49 mins

Synopsis:

From the ashes of the 2009 financial crisis come a new breed of investors, entrepreneurs and bankers who believe that Bitcoin can serve as a bulwark against the corruption of the previous generation.

However, this may not necessarily be the case given several high-profile scandals and thefts. Along with this, some also feel that Bitcoin also empowers criminals with the flexibility they need to commit more crimes.

In this documentary, both sides of the argument are examined and thoroughly discussed in a fair manner.

Why You Should Watch This:

Whether you’re a crypto enthusiast or detractor, The Bitcoin Gospel is a documentary that you absolutely must watch. The arguments posed by the participants will encourage you to ask questions and adopt a different view of the crypto argument.

Final Thoughts

This selection of the 12 top Bitcoin documentaries should ensure that you’ll learn everything you need to know about blockchain technology and cryptocurrencies.

It’s time to pick the popcorn and expand your knowledge on the cryptocurrency world by witnessing its greatest achievements, failures and the expectations for the future.

The best thing about these documentaries is that almost all of them are available in Youtube for free. Others are exclusives of streaming platforms such as Netflix and HBO, but still within reach.

And if you still have questions about how the whole Bitcoin and crypto world works, make sure to check out our blog articles. Plus, download Tezro app to keep your Bitcoin assets safe and to text your fellow crypto enthusiast friends in a fully encrypted service.

12 Best Bitcoin & Crypto Lending Platforms in 2021

If you have been following the current trends in the financial sphere, you have probably heard about bitcoin lending, or rather crypto lending.

This is a trend that has opened up lucrative opportunities for crypto players – big and small. Crypto lending is an alternative investment form where investors lend cryptocurrencies or fiat money to borrowers in exchange for interest payments.

What Is Bitcoin Lending?

You have probably heard people or institutions taking loans. Often, these loans are giving by banks and other financial institutions and must be repaid with some interest.

This is how lenders make money. Crypto loans work in the same way, only that anyone can make money through interests in this form of lending. Bitcoin lending allows anyone to lend crypto through various platforms and earn interest.

At the core of bitcoin lending is a simple concept: borrowers can use crypto assets as collateral to obtain loans in fiat currency, while lenders provide what is required for the loan at an agreed-upon interest rate.

This also works in the reverse where borrowers can use stablecoins or fiat currency as collateral to borrow crypto assets. Crypto loans are basically collateralized loans. Over the past few years, bitcoin lending has opened up a myriad of benefits and applications for traders, businesses, institutions, and other users across the globe.

It has increased the amount of productive work financial assets by reallocating it from the people without an immediate use case to those with one; hence increasing the utility of those assets for all parties.

The Use Of Smart Contracts In Crypto Lending

Smart contracts are lines of code stored on a blockchain that automatically execute when certain predetermined terms and conditions are met. They are often used to enforce some form of agreement so that participants can be certain of the outcome without the involvement of an intermediary. Blockchains that support the functionality of smart contracts are referred to as blockchain 2.0.

In BTC lending, smart contracts streamline the complexity that comes with the traditional lending process that involves several intermediaries because of lack of trust among participants in a transaction.  Since the identity of the borrower is stored in the blockchain, lenders can quickly make a decision about credit.

Every crypto lending must have a well-designed smart contract that contains the initial loan amount, and the repayment terms including penalties if payments are late or defaulted. For instance, if you take a loan of $1,000 with a repayment period of 12 months at $500, the smart contract should execute the payment requests, receive all payments, and adjust the amount due without the involvement of an intermediary.

Smart contracts also make it possible for parties to embed automatic compensation functions such as adjusting credit limits, converting to a higher yield currency, or deducting percentages for every loan payment.

Smart contracts come with a wide range of benefits, including:

  • Speed and accuracy: Since smart contracts are automated, borrowers don’t have to spend time processing paperwork or correcting and reconciling errors that are often made in documents filled manually. Since they are based on code, smart contracts are also more accurate than the legalese that convectional contracts are written on.
  • Security: All blockchain transaction records are encrypted, and they are nearly impossible to hack. Since each individual record is connected to the subsequent and previous ones on a distributed ledger, the entire chain would need to be altered to change one record.
  • Trust: In crypto lending, smart contracts automatically execute all transactions following pre-determined rules, and the encrypted records of every transaction is shared among all participants. Lenders and borrowers can, therefore, trust each other as long as they are working with a reputable bitcoin lending platform.

Blockchain Types & Their Usability In Crypto Lending

A blockchain is a distributed database that is shared in a peer-to-peer network. It contains a linked sequence of blocks that hold timestamped transactions which are secured by public key cryptography and verified by the network’s community.

Even though there are no two definitions of blockchain, all blockchains are not the same. Some of the most common types include:

Permissioned/Closed Blockchains

In this type of blockchain, all nodes can read and submit transactions. However, only authorized nodes can validate transactions. Examples of permissioned blockchains include Stellar and Ripple.

Permissionless/Open Blockchains

In permissionless blockchains, all nodes can read, submit, and validate transactions.

While these types of blockchains share common characteristics such as timestamped transactions, cryptography, and a distributed network, they are different in terms of user’s ability to read and submit transactions to the blockchain.

This ability is based on their access to transactions and holds critical implications for how peer-to-peer platforms can use blockchain in P2P lending.

12 Best Bitcoin & Crypto Lending Platforms In 2021

Today, there are hundreds of peer-to-peer crypto lending platforms that are disrupting traditional debt providers. They are providing investors with amazing opportunities to achieve stable and lucrative passive income while providing a convenient way for borrowers to meet their financing needs.

Bitcoin lending is now used by thousands of investors across the world to diversify their investment portfolios.

Even though there are hundreds or even thousands of great bitcoin and crypto lending platforms, we have researched and outlined 15 of the best. We will outline how each platform is using the blockchain technology and offer a brief guide on how to get started on each of them. Read on!

1. CoinLoan

Founded in 2017 by Max Sapelov and Alex Faliushin in a bid to help investors who believe in HODling to sell their crypto assets and obtain cash, CoinLoan is one of the best crypto lending platforms. It was born as a platform for crypto-secured loans and in March 2020, it began offering fiat-to-crypto loans with the possibility of using both stablecoins and fiat as collateral.

The lending process in CoinLoan works similarly to a bank. Part of your deposit is used to create loan offers in the form of crypto-backed lending. The entry barrier in this platform is relatively low, with a minimum deposit of $100.

2. BlockFi

BlockFi was developed in 2017. Its main goal was to enable crypto holders to do more with their currency. What makes BlockFi stand out from other cryptocurrency lending platforms is that its financing did not come from Initial Coin Offering (ICO) but from institutional investors.

This platform provides crypto-backed loans to holders of Ether, BTC, and Litecoin. It allows them to access liquidity in USD without having to sell their assets. This is a great option or investors who want fiat currency but still want to maintain ownership of their crypto.

3. Nexo

Nexo has gained popularity as the first instant crypto backed loans platform in the world. On Nexo, borrowers can access loans from $1,000-$2,000,000.

So far, this platform has offered $2 billion worth instant bitcoin loans – and this makes it one of most renowned bitcoin lending sites on our list. Currently, it has some of the lowest interest rates available starting from 5.9% APR.

4. SALT

SALT is a blockchain-backed loan platform that welcomes all crypto traders to lend and borrow. One of the things that stands out on this platform is that once you borrow, your funds are deposited directly into your bank account.

So far, the platform has offered over $50 million in crypto loans. The only notable drawback about this platform is that it is not available worldwide, since its services can only be accessed from 30 jurisdictions.

5. YouHodler

YouHodler has undoubtedly one of the best crypto lending programs on the market. It has a high loan-to-value ratio that goes as high as 90%. It is compatible with most digital currencies, and this makes it a comfortable choice for most, if not all crypto investors. Additionally, this platform accepts all major cards, including American Express, Maestro, MasterCard, Visa, and more.

It also works with top payment gateways including PayPal, Skrill, Apple Pay, Qiwi, and more. When borrowing, you don’t need any credit checks. It has a simple interface that makes it possible for everyone, including newbies to interact with the platform.

6. Xcoins

Started in 2018 by Sergey Nikitin, Xcoins has grown to become one of the greatest bitcoin lending platforms of all time. This site leverages PayPal to make its operation simple and efficient. It allows people to borrow, and in return, lenders get monthly payments via PayPal at varied interest rates. On this platform, lenders set the interest rates, and borrowers choose to take them or not.

7. Binance

Known as the best crypto exchange on the market, Binance is now one of the greatest P2P crypto lending sites. Launched in March 2020, Binance crypto lending allows its customers to use their crypto assets to secure loans.

Currently, it allows users to get paid out on two Stablecoins: USDT and BUSD. This platform supports a wide range of varying loan periods and interest is calculated on a daily basis. Several coins can be used as collateral, including ETH and BTC.

8. LendaBit.com

LendaBit.com is a centralized lending platform registered in Hong Kong. It was created by experts with a unique blend of financial knowledge, global market intelligence, as well as blockchain-based project experience.

This platform has a lot to offer, including a robust collateral process and extensive security measures. It is incredibly client-focused, and features an intuitive, simple, and friendly interface.

9. Hodlnaut

Hodlnaut stands out in this list since it is the go-to place for corporate loans. Its loan limit starts at $50,000 and can have fixed or flexible loan terms for a shorter period. This platform offers flexible loan-to-value rate ranging from 25%-100%. Corporate clients can choose to be paid out in USDT, USDC, or BTC. While this platform is great for corporate clients, it is more rigorous that typical lending platforms outlined in this article.

10. Kiva

Kiva is a nonprofit organization based in San Francisco. Its main mission is to connect people and businesses through lending for economic empowerment.

Today, it has more than one million active lenders, making it one of the best P2P crypto lending platform.

This site provides loans primarily through optional donations, support from sponsors, and voluntary lenders.

In 2019, Kiva launched Africa’s first decentralized national ID system in Sierra Leone.

11. Nebeus

Nebeus is a ‘crypto bank’ that allows crypto holders to use their assets in peer-to-peer lending. People with crypto assets are allowed to use their crypto portfolio as collateral when they need loans at reasonable rates.

Crypto loans are provided in three fiat currencies including GBP, EUR, and USD. This platform has a simple and intuitive interface that makes friendly for newbie users.

12. SpectroCoin

SpectroCoin is a trusted crypto exchange that has provided crypto loans to millions of customers over the years. It allows users to use their crypto holdings as collateral to back their crypto loans. This platform supports ER, ETH, BTC, and other currencies.

The LTV ratios range from 25%-75% which is quite impressive. Choosing a crypto loan with a higher LTV is risky, but it allows you to get the biggest available loan with your crypto collateral.

FAQs

How Do I Make Passive Income With Bitcoin Lending?

Lending is one of the best ways of earning passive income with crypto assets. There are many P2P crypto lending platforms which allow you to lock up your funds for a particular amount of time and collect interest payments later. The interest rate can be fixed (set by the bitcoin lending platform) or set by you as the lender based on the current market rate.

Is Crypto Lending Safe?

Even though crypto lending can be lucrative, we cannot shun away from the fact that it carries some risks. It is not something that you should go into blindly. Some of the people who are attracted to this form of lending have a bad credit history and are often deemed to default.

However, some lending platforms allow lenders to keep up to 80% of the crypto collateral in case of a default. Also, there are security risks that come with crypto lending. If you want to become a lender, it is prudent to move your assets from bitcoin lending platforms and store them in secure online wallets such as Tezro, or better still, store them in your hardware wallet.

What Are The Advantages Of Crypto Lending?

Crypto lending comes with a plethora of benefits, including:

  • Crypto lending is more accessible and not subject to your credit score.
  • Crypto lending is faster. You don’t need to undergo a rigorous application process as it is the case in the traditional financial system.
  • Crypto lending has more flexible payment terms. Borrowers have an opportunity to customize long they want their loan to be for, the stablecoins or fiat currency they want to be paid out in, and loan-to-value-ratio.
  • Crypto loans have lower fees than traditional loans.

Get the Tezro App

TEZRO is an all-in-one application for secure instant messaging and crypto payments, there is no need to have multiple chat applications or crypto wallets ever again. Your communication and finances are secure and encrypted under TEZRO. Try it now!

What Are The Risk Levels Of Crypto Lending Compared To Traditional Lending?

Most people often consider getting loans from traditional banks because they believe they are safer. Nonetheless, most banks around the world have been involved with nearly all major money laundering scandals in one way or another.

Banks are run by humans who are naturally fallible. They also don’t have the best security measures especially in terms of technology. On the other hand, crypto lending platforms are risky since they are digital. However, modern bitcoin lending platforms are more secure than traditional banks.

The crypto industry has been actively working to be more reliable and reputable, especially in terms of security.

Crypto lending platforms clearly outline their security measures on their websites. As long as you do your part and use secure wallets like Tezro or cold wallets, all the platforms outlined in this article have lower risk levels than traditional banks.

Conclusion

In the short term, we can confidently state that crypto lending has provided a myriad of unique opportunities for crypto participants to gain liquidity, earn yield, and boost the productivity of their assets.

As this ecosystem continue to grow, experts project that it will remain a pivotal piece in shaping the future of cryptocurrency – and will impact its adoption as a mainstream currency.

To keep your crypto assets in good hands, don’t forget to download the Tezro app. With Tezro you can have your chat and your bank in the same app.

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Top 15 Highest Paying Crypto & Bitcoin Faucets

If you are a cryptocurrency enthusiast, you have probably heard about Bitcoin faucets. Bitcoin faucets are a popular theme within different crypto communities across the world. Over the years, they have received both praise and backlash.

There are people who love them and treat them as opportunities for profits, while there are others who believe they are scams. In this comprehensive article, we are going to uncover which group is right, and also look at some of the best crypto faucets in 2021.

First…What Is A Bitcoin Faucet?

A Bitcoin faucet is a website that provides you with small amounts of BTC in exchange for doing simple tasks such as watching ads or solving captchas. In simple terms, crypto faucets are reward systems which dispense rewards in form of tiny fraction of BTC for visitors to claim.

The name of the Bitcoins that these sites offer are known as satoshis. A satoshi is the smallest imaginable amount of BTC. One Bitcoin is equal to 100 million satoshis.

How Do Faucets Work?

In Bitcoin faucets, rewards are in place to attract visitors. Faucet owners normally deposit some amount of BTC into their cryptocurrency wallet (they use reliable and secure wallets such as Tezro). The wallet is connected to their faucet sites.

Usually, users need to register on a crypto faucet. To do this, they need to enter their personal details as well as their wallet address. After completing a task on a website, rewards earned are channeled to a micro wallet.

This wallet is similar to traditional wallets, only that it is capable of holding smaller amounts of BTC. For the best Bitcoin faucets, you don’t have to sign up for a micro wallet. It is automatically created upon registration.

When micro wallets are filled with rewards earned, they are then sent out to the user’s main wallet. Always make sure you use the most reliable and secure wallets such as Tezro to avoid losing or compromising the security of your hard-earned rewards.

Note: The reward amount paid on various tasks on different faucets depends on an array of factors including:

Frequency of action: The more often you can repeat actions, the lower the reward.

Difficulty of action: The more difficult and time consuming a task is, the higher the reward.

The Idea Of Bitcoin Faucets

The idea of Bitcoin faucets was born in 2010 by American Software Developer Gavin Andresen as way of promoting Bitcoin to the broader public. 11 years later, the primary purpose of creating cryptocurrency faucets has changed. Faucet owners use it to make money from ad placement. Nonetheless, they still carry some sense of promotional and informational functions.

Are Bitcoin Faucets Worth It?

To be honest, earning profits through Btcoin faucets is not as easy as it sounds. You could have the best Bitcoin faucet apps, but still struggle to make ends meet. However, this doesn’t mean that cryptocurrency faucets are not worth it. As long as you are patient and you use multiple faucets to complete tasks and earn, you might end up making a kill out of them.

If you want to become a faucet owner, you need to remember that you will not start making profits immediately. You must come up with something original and unique so that you can achieve success.

New Bitcoin faucets are sprouting every day (both as apps and websites), and the market has become overly competitive. Only the best ideas can stick out from the crowd. Some of the options that could help your faucet succeed include aggressively promoting your products or services, offering aid competitions and prize wheels, crowdfunding, hosting more advertisers, and more.

Best 15 Highest Paying Crypto & Bitcoin Faucets

1. Bitcoin Aliens

Bitcoin Aliens is, without a doubt, one of the best crypto wallets that is both unique and effective. It provides crypto enthusiast with an opportunity to play games in exchange for BTC. The way it works is simple – you install an app on Android or iOS device, register for an account, and start playing.

As you do this, the faucet generate certain amounts of Bitcoin in the background depending on the actions you perform and the types of games you play.

Bitcoin Aliens is regarded as one of the highest paying Bitcoin faucets. A single payment on this site is said to be 4000 satoshis, which is quite impressive for simple tasks. If you are looking for a fun-filled yet lucrative Bitcoin faucet, you may consider giving Bitcoin Aliens a chance.

2. Moon Bitcoin

Another great crypto faucet we cannot ignore is Moon Bitcoin. It is an established faucet with a dedicated user base, and is regarded by many quotas as one of the most reputable and effective faucet on the modern market.

The main aim of this faucet is to attract new users by providing them with a broad array of different cryptos to attain and featuring daily login rewards. Additionally, this faucet issues its payments every few minutes; hence you can watch a movie or an ad, and claim your satoshis as soon as you finish.

This site provides users with consistency rewards. This means that if you start claiming satoshis at least once every day, you increase your chances of getting even more profits. Just like other established Bitcoin faucets, Moon Bitcoin also gives its users affiliate bonuses. If you bring a new user to the site, you could earn up to 10% with your claims.

3. CoinPayu.com

Coinpayu.com was developed out of the need for quality. What makes this faucet unique is that it is updated with new content quite often, and this gives crypto enthusiasts with amazing ways to earn extra income.

The way the faucet works is that users need to register, and once they log in, they can feed earn crypto by doing basic things such as viewing ads and doing offers.

If this site keeps running as it does and continue getting new content regularly. It has the potential to become one of the best crypto faucets out there.

4. Robinhood

From its name, Robinhood is known as the friendliest Bitcoin faucet out there. Truthfully, FamilyBTC is one of the less known BTC faucets, but its user base is constantly growing and is starting to gain recognition in the crypto space.

What makes this faucet stand out is that it provides users with various plans they can choose to increase their profit speeds. Additionally, the site has an impressive referral bonus that is worth checking out.

5. Cointiply

Founded at the beginning of 2018, Cointiply has grown to become one of the most popular Bitcoin faucets on the market. It features multiple methods of claiming rewards, various opportunities for rewards, as well as a sleek and easy-to-use interface.

On this site, you can claim an average of 200 satoshis every hour. Some of the methods of earning Bitcoins on this site include:

  • Offer walls
  • Playing browser games
  • Watching Pay to Click Ads

There is also a coin multiplier unction within the site for those who want to try their luck on higher winnings. This faucet is relatively stable and has a 100% uptime according to FaucetHub.

Users can withdraw their winnings once they accumulate 35,000 satoshis. You can withdraw your rewards directly into your Bitcoin wallet once you hit 100,000 satoshis.

6. BonusBitcoin

This Bitcoin faucet list cannot be complete without mentioning BonusBitcoin, which is one of the oldest faucets on the market. This faucet is unique in its making, and allow users to claim an average of 24 satoshis in 15 minutes. It also features a coin multiplier function and a surveys section, which provide an opportunity for higher earnings.

BonusBitcoin is connected to CoinPot – a micro earnings wallet which accumulates user’s payouts. Some users have claimed that CoinPot has some bugs that compromise its functionality at times, but works in the end.

When you accumulate 10,000 satoshis in your CoinPot, you can make a withdrawal at a fee. Once you accumulate 50K, you can make a withdrawal without any fees.

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7. Coinbase

Coinbase is one of the largest cryptocurrency companies in the world, supporting over 100 countries and serving over 100 million clients across the globe. This company has an array of services, including brokerage services, crypto wallets, merchant solutions, and more.

Interestingly, Coinbase is also a crypto faucet. It allows its customers to earn crypto rewards when they complete various tasks. Additionally, it has an enticing referral bonus.

8. Gemini

Gemini is a cryptocurrency exchange that is widely known for its robust security. Despite being in the market or a while, Gemini stands out from exchanges of its caliber as a platform that has never been hacked.

Thanks to its industry-leading standards and unrivaled reputation, Gemini is one of the best crypto faucets you should consider when looking for ways to earn some extra income.

9. BlockFi

BlockFi is known as a reliable crypto lending platform. Nonetheless, this platform has expanded its services, and is now a renowned Bitcoin faucet offering users with tons of peaks, including a referral bonus as well as a signup bonus of $250 in Bitcoin after sending $3,000 or more on it’s newly released credit card.

10. eToro

eToro has become a go-to investment option for crypto traders. This platform provides a wide array of opportunities for those who want to invest in the crypto space.

Also, it offers crypto enthusiast with an opportunity to earn extra income by completing simple tasks such as viewing ads, or simply referring others to the platform.

11. Bitcoin IRA

Bitcoin IRA is a revolutionary digital asset IRA Tech Company that allows its clients to buy cryptos or their retirement accounts. This platform also features many peaks for its clients, including a referral bonus.

Once you invite someone in the platform and they invest, you both get rewarded. This company also provided clients with a chance to get up to 6% interest rates on crypto holdings on cash in its self-directed retirement program.

12. Binance

Binance P2P is not only a P2P marketplace that allows crypto enthusiasts to trade in crypto at zero fees, but also brings business opportunities for them to earn some extra income.

It allows businesses to share ads on their platforms, and when their users click and view those ads, they earn rewards in terms of crypto assets.

13. Kraken.com

Kraken.com is a reputable crypto exchange. Apart from this, it is also a crypto faucet that offers its users with a chance to earn extra satoshis by completing simple tasks like taking surveys and watching ads. The rewards are deposited into a user’s wallet once the pre-determined target is achieved.

14. Coinmama.com

Coinmama is a trusted crypto exchange with over 2.6 million users across 188 countries. It gives its clients a chance to earn 15% commission on referral purchases including future purchases.

The more customers you refer to the platform, the more Bitcoin you earn. You can also earn BTC by completing a wide array of tasks that appear on a regular basis.

15. Hitbtc.com

HitBTC is a secure, fast, and feature-packed crypto exchange that is trusted by millions of users across the world.

It is also one of the most exciting Bitcoin faucet apps where you can earn satoshis by completing tasks and referring friends.

FAQs

How Do I Earn With Bitcoin Faucet?

There are many ways to earn with Bitcoin Faucets. They include:

  • Playing games
  • Watching ads
  • Taking surveys
  • Referring others to a faucet

What Is The Highest Paying Bitcoin Faucet?

All Bitcoin faucets are not created equal. Some pay more than others – and those are the ones you should focus on. Some of the highest paying Bitcoin faucets include Bitcoin Aliens, Cointiply, and Coinbase.

What Are The Best Bitcoin Faucets With The Highest Payouts?

On this list, we have outlined some of the best Bitcoin faucets with the highest payouts. Therefore, you don’t have to choose!

To increase your chances of making more profits, signup for multiple faucets and complete as many tasks as you can. Faucets are undoubtedly a no-brainer method of claiming crypto assets.

How Much Money Can You Make With Bitcoin Faucets?

Honestly, you can make as much or as little as you want with Bitcoin Faucets. All that matters is how much time and energy you are willing to use as well as your patient levels.

How Do Bitcoin Faucets Make Money?

Faucet owners place ads on the website in the form of videos, banners, or trial games. They then promote the faucet by publishing links on forums related websites, and blogs.

When visitors come to the webpage and perform certain actions, they get rewards while the owners get paid by advertisers or get converting traffic to their webpages.

Conclusion

There are thousands of websites claiming to be “the best Bitcoin faucets in 2021.” When looking for the best sites, you might find yourself at a crossroad – confused and not knowing the ones you should trust and the ones you should avoid.

It takes time, effort, and critical thinking skills to pick out ones that will increase your chances of making profit.

In this article, you have learned what Bitcoin faucets are, how they work, and why they exist in the first place. You have also come across 15 of the best crypto faucets. While all faucets mentioned here are reputable and legit, this guide barely scratches the surface.

There are chances that the faucet that perfectly suits your needs is not mentioned here. Therefore, always use this article as a guide, but also do your homework and look for other faucets that might work great for you.

Remember, don’t limit yourself to one faucet. Maximize your potential earnings by utilizing as many as you can. And don’t forget to download Tezro app and keep your crypto assets safe.

How Does Cryptocurrency Gain Value?

How does cryptocurrency gain value? This is one of the overarching questions that most, if not all, digital currency fanatics ask themselves. To answer this question, you first need to know that cryptos are volatile.

Often, we get news about their highs and lows – and this gives the impression that they are tricky assets to deal with.

However, investing in them is highly lucrative if you understand what causes cryptocurrencies to rise and fall.

This comprehensive piece sums up how cryptos gain value and the key determinants of their ever-changing prices. Read on!

Fiat Currency vs. Cryptocurrency

Today the way we spend money has evolved significantly. Only 8% of the money in the world is represented in physical notes – which simply means that the globe is swiftly progressing towards a cashless economy.

Experts believe that in the near future, fiat currency will be wiped out and will be replaced by digital currencies. Nonetheless, there is still a big debate between fiat currencies vs. cryptocurrency.

Over the past few years, there has been a heated debate on the differences between fiat currency and cryptocurrency. There are some who argue that cryptocurrency is fiat money in digital form, while others say cryptocurrency is the future and will soon wipe out traditional banknotes completely.

To understand these two currencies, let us look at what they are.

Credits: FinanceSecond.com

Fiat Currency

A type of currency given by the government, fiat money is regulated by a central body such as the central bank. Fiat currencies act as legal tender and are based on the credit of the economy. Examples of fiat currency include the US dollar, Euro, and pound.

These currencies derive their value from the market forces of supply and demand. They are not in any way linked to physical reserves such as commodities, and this places them at a high risk of becoming worthless due to hyperinflation.

Cryptocurrency

A cryptocurrency is basically a form of virtual or digital currency that often works as a medium of exchange. Since they are not physical in nature, they utilize cryptography technology to process, verify, and secure all transactions.

Unlike fiat money, digital currencies are not offered by the government and are not controlled by a central authority.

Rather, they are based on limited entries in databases such as blockchain, which cannot be altered or manipulated unless certain conditions are fulfilled.

What are the Main Differences Between Fiat Currency and Cryptocurrency?

Truthfully, fiat currency and cryptocurrency differ in their definitions.

They also have a myriad of other differences, which we list below.

1. Divisibility

Divisibility is an essential aspect of any currency, whether fiat, commodity or cryptocurrency.

Look – if you want to exchange goods across varying values, you must use a currency that can be broken into multiple small units.

Similar to the way fiat currency can be divided into smaller units such as cents, cryptocurrencies can also be broken down to make it feasible for micropayments.

For instance, one Euro can be divided into 100 euro cents. Similarly, bitcoin –which is the largest digital currency by market cap can be divided into 0.00000001 BTC.

The smallest Bitcoin unit is known as Satoshi. One Bitcoin can be broken down into 100,000,000 satoshis.

Just like Bitcoin, other digital currencies can be broken down into smaller units.

The main difference between fiat currency and cryptocurrency in terms of divisibility is that the latter have a two-decimal precision, meaning it has larger divisibility than the former.

Credits: CoinTelegraph.com

2. Counterfeitability

In order for any currency to remain effective, it must be difficult to counterfeit.

If a currency is easy to counterfeit, it allows malicious parties to thrive by flooding the economy with fake bills. This has an adverse effect on the currency’s value.

Due to its complex, decentralized blockchain ledger system and other technologies used by different cryptocurrencies, it is virtually impossible to counterfeit them.

Counterfeiting digital currency would require one to manipulate the entire system and confuse all participants in a network, which is not a small feat.

Meanwhile, Counterfeiting fiat currency doesn’t require an overwhelming amount of effort, resources, and computing power. This makes digital currencies a safer alternative.

Counterfeit Dollar Bills apprehended by the Ashland Police, in the state of Virginia.
Credits: NBC12.com

3. Utility

One of the selling points of digital currencies is the use of blockchain technology.

This is a distributed ledger system that is trustless and decentralized, which means those participating in the crypto market must establish trust in each other for the system to work.

The system is highly flexible, and it makes cryptocurrencies have utility outside the digital currency space.

4. Durability

Durability is one of the key differences between cryptocurrency and fiat currencies. A dollar or euro bill in its physical form can be, for some reason, rendered unusable if it’s torn, burnt, or destroyed, for example.

Digital currencies are not prone to any form of physical damage. This is what makes cryptocurrencies valuable. Nonetheless, this doesn’t mean that digital currencies cannot be lost.

If, for instance, you own some bitcoins and you lose your cryptographic key, the coins in the corresponding wallet can be rendered unusable. This does not mean that the bitcoins will be destroyed. They will still reflect on the blockchain’s records.

In 2013, Canada’s money was said to snap during freezing weather. Source: HuffPost Canada

5. Transportability

Wallets, cryptocurrency exchanges, and a host of other tools and technologies make cryptocurrencies easily transferrable from one party to another within minutes or even seconds.

Transaction costs in the crypto world are extremely low, regardless of the size of the transaction.

Transferability is one of the most critical aspects that differentiates fiat currency vs. cryptocurrency.

6. Scarcity

Fiat currencies are overtaken by cryptocurrencies in terms of scarcity. Governments are allowed to create as much money as they need at any time.

Even though you might be tempted to treat this as an advantage, it is an aspect that devalues this currency. With cryptocurrencies, there is a defined number of coins that can be put into circulation.

The number of bitcoins that can be put into circulation, for instance, is 21 million.

This limitation guarantees digital currency users that 1 BTC in 2020 will be worth 1 BTC in 2050. Since there is no limitation on fiat currency, 1 US dollar in 2020 will not be worth 1 US dollar in 2050.

7. Inflation of Fiat Currency

Cryptocurrencies are a virtual medium of exchange between two or more parties. They permit direct transactions between parties without the influence or intervention from an intermediary such as a financial institution.

Something worth noting is that there is a limit placed on cryptocurrencies, which means they cannot be over-mined. This reduces the chances of inflation.

For fiat currency, a government may decide to print more currency, and this results in inflation. In case a government chooses to print too much currency, this can result in hyperinflation.

Credits: CATO Institute

What Causes Fluctuations in Price of Cryptocurrency?

To answer the question of how does cryptocurrency has value, we need to first understand why cryptocurrencies fluctuate. When it comes to cryptocurrencies, prices can change drastically within a short time.

The price fluctuation in digital currencies is quite rampant and occurs due to a number of factors.

1. The Perceived Value

One of the main reasons why cryptocurrencies see a huge change in their prices is because of the store value they are perceived to have over fiat currencies.

When we look at the differences between fiat currencies vs. cryptocurrencies, we find that fiat currencies are controlled by governments.

These authorities seek to maintain high employment levels and keep inflation levels low. This simply means that the economies built with Fiat currencies can either be strong or weak.

When it comes to cryptocurrencies, people are motivated to invest more or less based on how much value they feel the digital currency has. Therefore, perceived value is what affects cryptocurrency prices.

Credits: AppInventiv

2. Bad Press and Poor Adoption Rates

Even though Bitcoin and other cryptocurrencies have gained massive popularity around the world thanks to their decentralized nature, there are some mal practitioners who have maligned their good reputation.

The press also instills fear in people, and this has caused a shift in the value of cryptocurrencies.

3. High Profile Losses

How does cryptocurrency value increase? Well, the value of cryptocurrencies increases when high profile profits are recorded.

Though, when high-profile losses are made, prices fluctuate, and adoption rates decrease.

The losses that investors make and the subsequent news about them increases the effect of the volatility in crypto prices.

4. Security Breaches

When you ask crypto enthusiasts questions like “why do cryptocurrencies have value?” they will be quick to answer that cryptocurrencies are highly secure.

However, there are many instances when some people have pointed out vulnerability issues in some networks, and this has led to massive price fluctuations.

Cryptocurrencies have revolutionized the financial world to a large extent. They promise a frictionless transfer of value, and their volatility is expected to simmer down with time.

When this happens, adoption rates will increase, and massive fluctuations might be a thing of the past.

5. Increasing Demand

The increase in the number of digital currency exchanges has enhanced the usability of digital currencies. Today, it is easy to convert cryptocurrency to Fiat currency.

Plus, the massive adoption and popularity of cryptocurrencies have resulted in an increase in demand, hence a notable gain in the value of these digital coins.

Governments are also trying to find ways to implement the use of virtual currencies and leverage their exceptional benefits. Increasing demand is one of the key factors that answer the question ‘how does cryptocurrency gain value’.

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TEZRO is an all-in-one application for secure instant messaging and crypto payments, there is no need to have multiple chat applications or crypto wallets ever again. Your communication and finances are secure and encrypted under TEZRO. Try it now!

What are the Biggest Determinants of Cryptocurrency Prices?

There are several factors that affect cryptocurrency prices. Among those the most important are listed below.

1. Cost of Mining

Cryptocurrencies don’t come from anywhere. Some, like Bitcoin and Bitcoin Cash, are extracted by solving complex mathematical problems through a process known as mining.

This is a process that requires a lot of time, energy, and resources. In case the process of mining cryptocurrencies becomes difficult and its cost increases, this will undoubtedly affect their price.

2. Demand and Supply

When looking for what affects cryptocurrency prices, demand, and supply are factors that must be considered. The higher the demand and the lower the supply, the higher the prices.

The vice versa is also true. In case the demand is low, and the supply is low, then the prices will decrease. Simply put, the forces of demand and supply are what give cryptocurrency value.

However, it’s worth noting that the supply of cryptos is lower compared to fiat currencies. Also, their supply gradually slows down over time. This means that demand will continue to exceed supply, and this will maintain the value of these digital assets.

3. Rules and Regulations

Even though cryptocurrencies are decentralized in nature, governments around the world have introduced a set of rules and regulations to govern them. In some cases, the rules are positive and are meant to protect investors from breaches.

These friendly rules act as a catalyst for strong price increases. In other cases, the rules are highly repressive and restrictive and could lead to a significant fall in the value of any digital currency.

Credits: BITIra.com

4. Financial Crises

Cryptocurrency valuation largely depends on the economic situation in a particular country. In case the traditional financial system collapses, people naturally consider other assets.

They choose cryptocurrencies as a better form of capital security than inflationary fiduciary money.

Financial crises have a strong connection with the price of digital currencies. The more investors penetrate the market, the greater its capitalization.

5. Power of the Press

You cannot answer the question of how does cryptocurrency gain value without mentioning the media.

Without a doubt, the press can make or break cryptocurrencies. The media is the reel that drives motivations and moods among investors.

The way it writes or presents cryptocurrencies affects their demand. If the media disseminates positive news, the price of virtual currencies will increase.

Nonetheless, if the media decides to send out bad news, it will cause panic among potential investors and might even lead to a quick escape of existing investors from the market. This may lead to massive falls.

If the media educates the public about cryptocurrencies, it will go a long way in enhancing a greater understanding and boosting their adoption. In turn, this will result in a significant increase in prices.

Key Takeaways:

  • Cryptocurrencies are so valuable because they enjoy increased popularity and adoption – which means they are in high demand.
  • Cryptocurrencies are different from Fiat currencies in terms of divisibility, counterfeit ability, scarcity, transportability, scarcity, utility, and scarcity.
  • If the prices of fiat currencies fall due to inflation, the value of cryptocurrencies will go up.

Conclusion

Cryptocurrency presents salient features that provide a solution to challenges associated with fiat currencies.

As a result, they have attracted millions of people, hence increasing demand.

As mentioned throughout the article, only by increasing the demand we can expect cryptocurrency to gain value.

Due to their scarcity and promising future, digital currencies are expected to keep growing in many economies across timelines.

In Tezro we believe in the future of digital currencies. Download Tezro App now to experience a fully encrypted message service that allows you to exchange crypto assets, from Bitcoin to Ethereum.

Read more here about all the features of Tezro app.

How Many Bitcoins are There in the World Right Now?

Bitcoins being digital-assets exist virtually on a public ledger, better known as the blockchain. And, every blockchain thrives on rules or protocols which all users follow whenever they update any records. 

Every blockchain has several metrics, and the protocols guide those agreed unanimously by the developers. Other metrics are relative and keep fluctuating concerning market variables. 

This post will be constructive towards helping you refresh your knowledge regarding the critical questions with how many bitcoins there are. 

As of now, the figures keep changing every other minute. So, how many bitcoins are there in circulation? Looks like a ridiculous question, but surely you asked yourself this before. Read on to grasp the critical notes around the entire scenario. 

How many Bitcoins are there in circulation as of 2020?

According to Statista.com, records closing in quarter 2 of the year 2020 show a total of 18.52 Million in circulation.  Therefore, with mining capping at 21 million, how many bitcoins are left? Only 2.48 million to mine. 

Bitcoins in circulation is a relative figure. Why? 

Of the entire total of Bitcoins in circulation, part of it is lost, since owners have lost its public keys. A portion of it goes away through theft. 

Why do These Limits Exist?

Blockchains have upper limits beyond which mining halts.  For Bitcoin, the limit is 21 Million coins. Those limits exist to give legitimacy to a digital asset. And the legitimacy arises by creating scarcity- where ordinary money is ever scarce in supply. 

The opposite scenario would create oversupply situations, meaning Bitcoin would practically be worthless since everybody can mine it. 

Where do we currently stand with Bitcoin mining?

The total Bitcoin mined as of Month 3 of Quarter 3 of 2020  stands at 88.1%. Inference from data collection and analysis by the University of Cambridge credits 65% of bitcoin hashing or mining power to China.  Therefore, China alone contributes to 585 Bitcoins mining out of a total of 900 bitcoins daily. 

How many Bitcoin blocks are there today?

Data from blockchain.com indicates the total tally of blocks of the Bitcoin blockchain standing at 649,955. The figure increases on a day to day basis as more Bitcoin mining completes.  The site captures other details like the hash codes,  miner names, and the block’s size in bytes. 

How many Bitcoin users are there?

According to claims by Bitcoinmarketjournal, there are an estimated 7.2 Million Bitcoin users. And closing December 2019, the total number of wallets estimated was 42 Million.  

There are multiple occurrences that any single user can hold several wallets at a go. While it’s also hard to estimate the average amount each may have/own. 

How many Bitcoins have been lost?

Bitcoins get lost for specific reasons. Chainalysis gives an estimated 3.79 Million of BTC as lost. The entire effect with that is, of the 21 Million mineable bitcoins, the whole total available after 2040 (when mining of all Bitcoins will end) will be significantly lower. 

Loss of Bitcoin arises for many reasons, like the fact that public keys are non-transferable. 

What are the Worst Bitcoin Losses Ever?

  1. First is Mt Gox with the 2014 incident – hackers took off with $500 million – which is estimated to be $5 Billion as of date. 
  2. Second is James Howells, with a lost hard drive with 7,500 Bitcoins worth. The drive was disposed into a landfill somewhere in Wales. 
  3. Chris Larsen (the founder of Ripple cryptocurrency) lost an estimate whopping $44 Million. 
  4. Winklevoss Twins – won a case but failed to cash out on $1.62 Billion possibilities. 
  5. Derek Rose, an Australian Journalist whose $7 Million was lost due to poor leveraging. 

Kolin Burges, cryptocurrency trader, in a protest in Tokyo in 2014 after the collapse of Mt Gox. Credits: Reuters/Toru Hanai 

How many bitcoins are mined per day?

Past May 2020, Bitcoin halving reduces bitcoin mining per day from 1800 to 900 bitcoins. And towards 2040, the difficulty keeps increasing.   

The harder the mining, the lesser lucrative mining of bitcoin gets. You can keep tabs with bitcoin mining in block/ledger history by looking up the tables at blockchain.com. 

How many Bitcoin can be mined?

According to the Bitcoin blockchain protocol released in 2009, mining the upper limit is 21 Million bitcoins.  There’s ranging debate around this, bearing in mind that, by consensus, miners can unanimously agree to increase the capping. 

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TEZRO is an all-in-one application for secure instant messaging and crypto payments, there is no need to have multiple chat applications or crypto wallets ever again. Your communication and finances are secure and encrypted under TEZRO. Try it now!

What happens when all Bitcoins are mined?

Bitcoin miners earn rewards when it’s over; their income will be limited to transaction fees. Skeptics cite that lack of rewards may phase out miners and lead to the collapse of the entire system. On the other hand, enthusiasts view that Bitcoin’s widespread use for transacting may increase fees per transaction to maintain the miners. 

How Many Bitcoins Have Been Stolen?

As early as last year, Bitcoin still gets lost with huge portions going away from the exchange. To date, cryptotips cites that more than 4 Million Bitcoins lost and in irrecoverable states.  Theft of bitcoin has been a huge topic around. Unlike the values in banks and under regulators’ control, losers have no substantial recourse whenever bitcoin disappears into thin air. 

How many bitcoin billionaires are there?

Forbes documents around only 3 Bitcoin BillionairesFrom the list of billionaires on Forbes in 2020, Micree Zhan, the founder of Bitmain tops the list, as the 690 wealthiest person in the world with a fortune of $3.2 billionIts co-founder Jihan Wu also comes up on the list. Bitmain is a company focused on Bitcoin mining. 

Micree Zhan and Jihan Wu at the back, are currently in a legal battle. 

Finally, the owner of Coinbase, one of the most famous cryptocurrency trading business, also is included in the list. Brian Armstrong has a net worth of $1 billion. 

Important to mention that the founder of one of Bitcoin competitors, Ripple, Chris Larsen, also is included in the ranking, with a total worth of $2.6 billion. Despite that, Ripple still ranks third on the list of most used cryptocurrencies, behind Bitcoin and Ethereum. 

On an honorary note, Bitcoin ‘ghost’ founder, Satoshi Nakamoto, does not makes it into the list of Bitcoin billionaires.  

Initial investors hit luck after locking good portions when bitcoin was selling at low prices. Therefore, their value towards being billionaires arises from appreciating the value of bitcoin with time. 

Parting Notes

Bitcoin metrics conform to those of other financial assets. They keep fluctuating with time alongside significant variables like supply and demand. With bitcoin, it is the whole equation of mining difficulty as the percentages inch towards 100%. 

As much as clarity exists regarding how many bitcoins are left for coins miners to work on, other relative metrics keep emerging: 

  • Can bitcoins blockchain allow miners to alter protocols to increase the number of bitcoin mining above 21 Million? 
  • What would happen in case a successful hard-fork takes effect to increase the mining cap? 
  • Quite a significant portion of Bitcoins is lost or stolen. Can it ever be recovered? 

The reality is bitcoins will keep increasing and so will the total mining capability. Ideally, the metrics keep changing day by day and you should maintain yourself updated to know about the flutuation of the currency. 

Most metrics come up from studies based on estimations without any party holding primary and credible details. Remember, there’s no holder of single-source data regarding bitcoin.  

To keep in touch with the blockchain and crypto industries, download Tezro app and enjoy its fully encrypted text message feature. 

What is a Cryptocurrency Wallet: 5 Different Types & How They Work

On its own, the very idea of cryptocurrency should not make any sense at all – a digital form of currency that has no tangible value whatsoever. Unlike fiat currencies i.e. paper money, cryptos cannot be held or stored physically.

The lack of a physical form and the ability to transfer value digitally is what has made Bitcoin and a selection of other cryptocurrencies so popular during the early 2000s.

Essentially, cryptocurrencies function as a store of value that can be anonymously transferred between individuals. This was why Bitcoins were first used on the deep web in order to facilitate sometimes illegal transactions.

The anonymity offered by Bitcoins and the ease of transference has made it a favorite of individuals operating on the fringes of society. In recent times however, Bitcoin has also been seen as a solid investment and an excellent store of value.

With all of that in mind, you may be wondering; how do you actually buy things with Bitcoin? After all, Bitcoin exists only in the realm of the digital and lacks any tangible presence.

By answering these questions, you’ll be able to determine which crypto wallet would be suitable for you.

That is indeed a good question, which brings us to the topic of wallets. Cryptocurrency wallets to be precise.

What is a Cryptocurrency Wallet?

So, let’s get crypto wallet explained correctly. Cryptocurrency wallets are software programs or apps that enable users to store and retrieve both public and private keys. These keys communicate with other blockchains in order to help you monitor your balance, send and receive funds and perform a variety of other functions.

The blockchain is essentially a directory that stores a record of all your transactions. Keys are used to authorize the transfer of Bitcoin ownership between users.

For example, you buy a pair of shoes from Frank over the internet with Bitcoin. When paying for your purchase, the public key stored on your wallet is unlocked by the public key on Frank’s wallet.

This authorizes Frank to transfer the ownership of Bitcoins in your wallet thus allowing him to access said funds. From here, the balance in your wallet is decreased while the balance of coins in Frank’s wallet rises.

When transactions are made with Bitcoins, no actual transference actually occurs. What goes on is essentially a change in ownership which unlocks said funds and allows for them to be used.

Why do you need a wallet for Cryptocurrency and how does it work?

While you won’t need a wallet to buy things with cryptocurrency, wallets are an excellent way of storing cryptocurrencies. They allow you to store all of your cryptos in a single, secure location.

Given the nature of the crypto industry, security should always be at the back of your mind. This is why people often ask the question; are crypto wallets safe?

Dealing with unscrupulous individuals over the internet can easily result in you being scammed of your cryptocurrencies with little to no recourse. This is why it’s important that you understand the types of crypto wallets that are available to you.

How to get a Crypto wallet?

There are plenty of different ways that you can get a crypto wallet. Given the popularity of Bitcoin and other cryptocurrencies, many people want to know how do crypto wallets work. To sum up, they have exploded in popularity in recent times.

The simplest way to get a cryptocurrency wallet would be to sign up for one online. These wallets are usually available for free and can easily be obtained.

For more advanced users, you may want to take a look at the different types of crypto wallets available to you.

Get the Tezro App

TEZRO is an all-in-one application for secure instant messaging and crypto payments, there is no need to have multiple chat applications or crypto wallets ever again. Your communication and finances are secure and encrypted under TEZRO. Try it now!

What are the different types of Cryptocurrency Wallets?

Now that you know how cryptocurrency wallets work, let’s take a look at the types of wallets available to you. For starters, wallets can be defined as being either hot or cold types.

1. Hot wallets

Hot wallets are online or web-based storage solutions. These are the most common types of wallets that are utilized by most crypto enthusiasts and exchanges.

Pros of using Hot Wallets:

  • Allows for easy accessibility to funds
  • Most popular type of wallet
  • Usually offered as free cryptocurrency wallet

Cons of using Hot Wallets:

  • Vulnerable to malicious/hack attacks
  • Requires a full-time internet connection

Types of Hot Wallets:

Desktop: these wallets are downloaded and installed on either a desktop PC or a laptop. They offer a higher degree of security as the wallet can only be accessed on the PC that it has been installed on. One drawback of the desktop wallet is its susceptibility to hack attacks and outright theft.

Online: online wallets are cloud-based solutions that enable users to access their funds from just about anywhere. From smartphones to laptops, online wallets are one of the most flexible wallet solutions.

Because they are managed by a third-party service provider, this leaves them vulnerable to hacks and digital heists.

Mobile: true to their namesake, mobile wallets are apps installed on a smartphone. This provides users with a high degree of mobility. With the widespread acceptance of Bitcoin, mobile wallets allow users to make payments on the go thus answering the long-asked question; what can you buy with cryptocurrency?

However, mobile wallets are also one of the least secure methods for storing cryptocurrencies. The tendency for smartphones to be lost or stolen presents a major security risk. Hence mobile wallets should only be used to store a limited quantity of cryptocurrencies.

2. Cold wallets

Where hot wallets allow for quick and easy access to cryptocurrencies, cold wallets are the direct opposite.

Pros of using Cold Wallets:

  • Safe and secure way of storing cryptocurrencies
  • Allows you to manage your crypto security personally
  • Able to add a physical barrier to protect your assets i.e. safes

Cons of using Cold Wallets:

  • Can make funds difficult to access
  • Difficult to process payments
  • Not entirely free of security risks

Types of Cold Wallets

Hardware: allows for crypto keys to be stored on either a hard disk or USB stick which in turn can be kept in a secure location. In order to access the keys stored, users will be required to input a password or pin number thus providing an additional layer of security.

While significantly less flexible, cold wallets offer a significantly higher level of security as they are immune from hackers and other malicious attacks.

Paper wallets: Besides making use of external hardware, paper wallets are another means of storing cryptocurrency assets offline. This is done by printing out your crypto keys onto a sheet of paper or some other type of printable material – an approach which offers equal amounts of security and mobility to the user.

It should be noted that paper wallets are risky in the sense that the sheet of paper could easily be stolen or misplaced thus allowing a stranger to gain access to your funds

Multi-currency or single use?

It goes without saying that Bitcoin is by far, the most widely traded type of cryptocurrency available on the market today. However, you may have your reasons for trading in other cryptocurrencies i.e. investment or diversification.

Thus, when choosing a crypto wallet, ask yourself if you’ll be looking to trade in multiple currencies or just one-type. Most wallets cater for a variety of different currency types – so you’ll have the freedom to choose between a multi currency crypto wallet or a single currency one.

Are there any fees to use a Crypto Wallet?

Most of the time, crypto wallets do not charge fees of any kind – so you won’t need to worry about being hit with transactional fees.

Given the nature of blockchain transactions, you may sometimes be required to pay a small service fee should you wish for your transaction to be given a higher priority.

Usually, the costs come up to approximately $0.12 – a tiny amount to pay in exchange for a near instantaneous transfer.

Are Cryptocurrency Wallets secure?

The crypto industry has improved significantly in terms of security and accountability in recent years. However, given the unregulated nature of the industry, there is still an element of risk involved.

Hence if you’re looking to safeguard your assets, it would be best to store the bulk of your cryptocurrency holdings in a cold wallet where it is significantly safer.

How to keep your Cryptocurrency Wallet safe and secure?

As a rule of thumb, practicing good internet safety hygiene is a must if you are to keep your crypto wallet out of the wrong hands. First, learn how to set up a crypto wallet safely and avoid using shady providers. Also, whether you’re using a mobile or paper wallet, always be aware of your surroundings and always keep track of your transactions.

When using a desktop wallet, avoid visiting questionable websites and do not leave your device on for extended periods of time. Failing to do so will provide hackers with the opportunity to hack into your crypto wallet and steal your funds.

Are Cryptocurrency wallets anonymous?

While the biggest draw of cryptocurrencies was the anonymity offered to users, this assumption has lulled many into a false sense of security.

While your crypto wallet may not be tied directly to your identity, you would do well to remember that your transactions are stored and recorded on the blockchain. This is a form of pseudo-anonymity that offers you a certain degree of privacy.

However, with some effort it can be possible for you to be linked to your crypto wallet. So the answer is a mix of yes and no.

While your identity is protected to a limited extent, it can still be found out by a dedicated investigator.

How to choose the best Cryptocurrency wallet?

When choosing the best cryptocurrency wallet, you need to ask yourself the following questions:

  • How often will I be transacting in cryptocurrencies?
  • Should I use multiple currencies or a single one only?
  • Are my cryptocurrencies an investment or for more practical purposes?

By answering these questions, you’ll be able to determine which crypto wallet would be suitable for you.

Will Cryptocurrency Replace Fiat Money in the Future?

Will cryptocurrency replace fiat money in the future? This is one of the biggest questions people ask, considering that the use of cryptocurrencies has significantly grown over the years. Without a doubt, the use of cryptos has the power to overcome fiat currency usage in everyday life.

Experts project that in a few years, these digital currencies may supersede traditional currencies as the prominent medium of exchange.

Look – block-chain-powered cryptocurrencies such as Bitcoin remove the influence of governments and central banks, thus taking control of money away from authorities and institutions and handing it back to the people.

However, despite the inherent potential, cryptocurrencies have suffered a reputational nightmare during their first decade of existence.

 

Institutional reticence, insalubrious investors, and enterprising criminals have tarnished the public perception of these digital assets. But with its ever-increasing popularity, will Bitcoin replace cash? Read on to find out!

 

Cryptocurrency vs. Fiat Money

The fact that many people around the globe transact through electronic money continues to affirm that digital currencies could be the currency of the future.

 

Nonetheless, before we dig deeper and answer the question, “would cryptocurrency replace cash?” let us look at some of the key differences between cryptocurrency and fiat currency.

 

What Is Fiat Currency?

Fiat currency is a type of currency that is issued by a central authority like the central bank. Fiat currencies act as legal tender and are often not backed by a physical commodity.

This means that they are at a high risk of becoming worthless due to hyperinflation. Fiat currencies such as Euro, US dollar, and Pound derive their value from forces of demand and supply in the market.


What Is Cryptocurrency?

A cryptocurrency is a type of virtual or digital currency that works as a medium of exchange. By being virtual in nature, they utilize what is known as cryptography technology to process, verify, and secure transactions. Unlike fiat currencies, cryptos are not issued or controlled by a central authority.

Rather, they are limited entries in a complex technology such as blockchain, which cannot be changed or manipulated, unless outlined conditions are met.

Cryptocurrencies are a side product o Satoshi Nakamoto, the anonymous individual who is regarded as the brainchild behind Bitcoin.

This person, or persons, didn’t intend to create a cryptocurrency but a peer-to-peer electronic cash system that would enhance typical transactions without oversight from a central authority.

The decentralization aspect of cryptocurrency means that there is no central authority or central server where transactions are hosted. In decentralized networks, all transactions are displayed for everyone to see.

However, the identities of the participants in a transaction are concealed, and only their public keys are shown.

As long as you use secure wallets such as Tezro to store and send and receive cryptocurrencies, it is nearly impossible for anyone to trace your truncations.

 

Read more in this article about how cryptocurrency gains value.

 


What Are Some Of The Key Differences Between Fiat Vs. Cryptocurrencies?

 

Below are some of the main differences between fiat and cryptocurrencies:

 

1. Tangibility

It is impossible to have a physical feel of cryptos since they operate virtually. On the other hand, fiat currencies can exist as notes or coins; hence it is possible to have a physical feel.

 

The tangibility of fiat currencies sometimes poses a challenge because it can be a nuisance and a security threat to walk around with huge chunks of cash.

 

2. Storage

The virtual aspect of cryptocurrencies means that they only exist online and can only be stored in cryptocurrency wallets. However, not all crypto wallets are secure. Some of them have been hacked in the past, and investors have lost a substantial amount of holdings.

Therefore, before you choose a crypto wallet, make sure you do your due diligence and ensure you choose the best you can find. Experts recommend that investors choose cryptocurrency wallets that eliminate the need for multiple wallets such as Tezro.

 

Fiat currencies are versatile in nature. This means that they can be stored in different forms. They can be stored in the bank, or you can use services such as Skrill and PayPal that allow you to store them as digital currencies.

 

3. Divisibility

Divisibility is one of the most important aspects of any form of currency, be it fiat, crypto, or commodity. This is because divisibility makes something of value or use into exchangeable money.

Both cryptocurrencies and fiat currencies can be divided into smaller units. For example, one dollar can be divided into 100 cents. Similarly, Bitcoin can be divided into smaller units.

The main difference between these two currencies is that cryptocurrencies are more feasible or micropayments than fiat currencies.

 

Bitcoin can be divided into units as small as 0.00000001 BTC. This smallest value is known as Satoshi. This value simply means that one BTC can be divided into 100,000,000 satoshis.

 

4. Deflationary vs. Inflationary factor

When it comes to fiat currencies, a central authority or the government can print as much money as they want. Due to this, fiat currencies are inflationary.

To understand this, let’s look at this example. If you keep $10,000 in the bank today and wait for 10 years, you will withdraw $10,000 in 2030, but the value of this currency will be different.

This means you won’t be able to buy what is worth ten thousand bucks today in 2030 because the value of the dollar will have dropped significantly.

 

Cryptocurrencies are not controlled by any central authority. This means there is no one constantly controlling the monetary policy. This crypto runs on an algorithm that runs out. Once it hits 21 million coins, mining will come to a halt. This means that 1BTC of today will be equal to 1BTC 10 years from now.

 

5. Legality

Governments issue fiat currencies, which are regulated by the central bank. Fiat currency is regarded as the legal tender and is the official means of finalizing transactions. Laws are constantly enacted to control the supply of fiat currencies, and this affects their value.

 

Cryptos, on the other hand, is digital assists that act as a medium of exchange that no central authority has control over. In some countries, cryptocurrencies are illegal because they are believed to fuel activities such as money laundering and terrorism.

 

Benefits of Cryptocurrencies

Will cryptocurrency replace cash?

 

Well, for a fact, we cannot answer this question without first understanding the benefits cryptos have over other currencies. Here are a few benefits you should know:

 

1. Easy Transactions

When dealing with legal representatives, brokers, or doing business with fiat currencies, there are lots of transaction fees involved. Additionally, there is a lot of commissions, brokerage fees, and paperwork that must be done.

However, when you use cryptocurrency, you eliminate the need for middlemen. All transactions take place on a peer-to-peer networking structure.

This enhances clarity and accountability since, on a blockchain network, there is no confusion on who should pay who.

The parties involved in a transaction know who they are and clearly understand their responsibilities.

2. More Confidential Transactions

Under cash systems, your transaction history can be used as a reference document every time you make a transaction. A third party can even check your account and see the funds available.

One of the biggest benefits of cryptocurrencies is that every transaction made on the blockchain network is unique between the parties involved.

 

All exchanges are made on a ‘push’ basis, which means you can send exactly what you want to send to the recipient and nothing else. This protects investors’ financial history and safeguards them from the threat of identity or account theft, which is rampant in traditional systems.

 

3. You Can Take Cryptos Anywhere

Since cryptos are stored in digital wallets, you can carry them wherever you go.

Most wallets can be managed via mobile devices, meaning you can use cryptocurrencies to buy commodities and make payments when on the go.

 

We recommend the Tezro app, which allows you to exchange crypto through your mobile and also includes a fully encrypted text message app. Click here to know more.

 

4. Complete 24/7 Traceability of Transactions

All transactions on the blockchain are verified by a decentralized network of devices known as nodes. They are stamped on time and linked to previous transactions, hence creating a chronological series of transactions.

These successive transactions are irreversible and are continuously updated on devices participating in the blockchain network.

 

On this network, third-parties cannot manipulate the system, and senders cannot reverse payments. Everyone is also allowed to continuously verify if a transaction has taken place.

 

Is Bitcoin the Best Cryptocurrency to Replace Cash?

Will Bitcoin replace money? This is one of the biggest questions crypto enthusiasts and investors ask. The blockchain industry sees Bitcoin as the future of currency.

Thanks to Bitcoin’s high liquidity and limited supply, we have seen mass adoption of Bitcoin wallet holders, following a decline in cash use.

 

People around the world have wavering distrust in the fragile fiat system and modern-day banks, and this is why the popularity of Bitcoin continues its skywards trajectory.

 

 

Some of the reasons why Bitcoin could be the best cryptocurrency to replace cash include:

 

1. Bitcoin Has Greater Liquidity Relative To Other Cryptos

Since it is the most popular cryptocurrency, Bitcoin has far much greater liquidity than other cryptos.

This enables users to retain their inherent value when converting it to fiat currencies.

2. Increasing Wide Acceptance As a Payment Method

One of the biggest reasons why Bitcoin could replace fiat currency is because of its wide acceptance. Thousands of merchants accept Bitcoin as a form of payment.

Plus, around the world Bitcoin ATMs are becoming more and more common. According to CoinRadar, there are over 10000 Bitcoin ATMs installed in the US, with Florida being the state with a higher number of these machines installed.

 

Also in Europe, they are becoming more mainstream, as you can witness by the following graph provided by Statista.

 

3. International Transactions Are Easier With Bitcoin

Making Bitcoin payments overseas is not any different from making payments in-country.

Unlike other international cash transfer methods, you don’t have to pay huge international transaction fees to send money to another country.

4. Built-in Scarcity

 

Bitcoin has a built-in scarcity feature that cannot be found in other cryptos. Only 21 million coins will ever exist, and this is likely to support long-term value against fiat currencies.

 

What Will Happen if Cryptocurrency Replace Cash?

From the information above, we have answered the question, “will cryptocurrency replace fiat currency in the affirmative. However, there are significant concerns and challenges when this happens.

Also, when cryptocurrencies take over, countries around the world will be forced to put up the infrastructure for them to adapt.

In case cryptos outpace traditional money in terms of usage, fiat currencies will lose their value significantly without any means of recourse.

There would inevitably be challenges with this transition, as fiat currency could become incompatible rather swiftly and leave many people with lost assets.

 

Additionally, established financial institutions will be forced to scramble to change their ways while smaller institutions will close business.

 

Get the Tezro App

TEZRO is an all-in-one application for secure instant messaging and crypto payments, there is no need to have multiple chat applications or crypto wallets ever again. Your communication and finances are secure and encrypted under TEZRO. Try it now!

How Digital Currency Can Replace Cash?

For cryptos to replace cash, the crypto industry must overcome three hurdles. They include:

Experts believe that once a regulatory framework is put into place in key regions around the globe and the government-backed move towards cashless systems continues, cryptocurrency has a great potential to replace cash in the next few years.

 

  • The need for a robust virtual financial system that can contain cyber-attacks and other potential risks.
  • Building alliances with the wider payment industry
  • The Acquisition of legitimacy in the eyes of governments

Could Cryptocurrency Replace Fiat Currency?

Cryptocurrencies are slowly defying the ancient monopoly of central banks issuing money. With central authorities threatened by the prospect of cryptos replacing fiat money, they are now exploring the idea of digital currencies issued by central banks.

These currencies, known as Central Bank Digital Currencies (CBDC), are currencies that are guaranteed or backed by a reserve bank and can be used as a unit of account and mode of payment.

You can see in the chart below, provided by Statista, how Bitcoin is already competing with mainstream payment networks, having already surpassed Western Union and closing the gap to PayPal.

With CBDC in place, there is nothing preventing fiat currency from being replaced. Therefore, the next time anyone asks, “Can cryptocurrency replace fiat currency?” answer with a resounding yes!

Key Takeaways

  • Cryptocurrencies could replace Fiat currencies in the next few years.
  • Cryptocurrencies are not owned or controlled by governments. This means that they can remain stable, unlike fiat currencies.
  • Cryptos are not affected by inflation and interest rates. This makes them a great alternative to fiat currencies.
  • Cryptos are scarce in nature, and they don’t lose as much value over time as fiat currencies.

Conclusion

Will cryptocurrency replace cash? Well, yes, it will! Surprisingly, this is a prediction that has been echoed by many people across the world, including Deutsche Bank – one of the largest financial services companies in the world.

According to this company, cryptocurrency could replace fiat currency in the near future due to the fragility of the current system.

In its latest report dubbed “Imagine 2030,” Deutsche Bank argues that the system that holds traditional currency could crumble and lead to the rise of cryptocurrencies.

The rise of many well-established cryptocurrencies, including CBDC, means we should prepare ourselves for a cashless future!

To be prepared for that eventuality, don’t forget to download Tezro app. You will be able to make crypto transactions, knowing that your data is completely private and secure.