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We haven’t even been past the first quarter of 2020 and it has already proven itself to be quite an exciting year with unfortunately more bad news than good.

From the astronomical ecological and biological damage caused by the Australian bushfire crisis to the outbreak of the Wuhan Coronavirus or COVID-19, 2020 is shaping up to be quite a challenging year.

Of particular note, the Wuhan Coronavirus that has swept across China and parts of the world causing thousands of deaths has intensified concerns of a global economic meltdown. 

Being an industrial manufacturing hub and home to suppliers of conglomerates such as Nissan, the Coronavirus has been catastrophic for China’s economy with analysts predicting growth of only 4.5% – numbers unseen since the global financial crisis.

Further compounding this issue is the role played by China as one of the world’s key manufacturers and suppliers. For example, due to travel restrictions and the inability to meet demands, tech giant Apple has been forced to delay the launch of its new iPhone which speaks volumes as to the scale of this crisis.

With falling oil prices and fears of long-reaching economic effects that could possibly take the world years to recover from, investors and governments alike are looking to shore up their investments in anticipation of the worst.

Traditionally, precious metals such as gold have always been regarded as a safe haven investment in times of crisis. With its ability to retain value and positive price elasticity i.e. its price increase with demand, it’s easy to see why gold is a favorite amongst investors.

However, as we can see in Currency.com gold predictions for the next 5 years they seem to be rather shaky for gold and other precious metals. So, it may not exactly be the ideal haven investment. 

In this article, we take a look at cryptocurrencies such as Bitcoin and Ethereum and whether it really is digital gold.

1. Cryptocurrencies are decentralized

 If you didn’t already know, cryptocurrencies are essentially a form of digital money that are used as a medium of exchange. They work by securely encrypting financial transactions and acting as proof of a transaction.

Bitcoin, which is arguably the world’s most famous cryptocurrency, first got its start on the deep web where internet surfers and criminals freely mingled and bought and sold goods on the digital black market.

Unlike traditional fiat currencies that are issued by a government’s central financial body, cryptocurrencies like Bitcoin are not controlled or issued by any single entity. This gives cryptocurrencies a remarkable degree of freedom and anonymity which has made them so popular with criminals and individuals who prize their anonymity.

Because it is decentralized, cryptocurrencies are usually unaffected by factors such as government policy or economic downturn. As we’ve mentioned before, experts have raised comparisons between Bitcoin and gold as a safe haven investment.

However, it should also not be forgotten that cryptocurrencies are extremely volatile and have been known to appreciate or depreciate in value with no warning which goes against every rule of a safe haven investment.

2. Cryptocurrencies can be easily transferred

During times of great economic uncertainty, a situation known as a bank run may occur. Bank runs are caused by a sudden loss of confidence in a country’s financial system or government which prompts depositors to withdraw their cash en-masse which in turn causes a bank to go insolvent.

Should a crisis occur, a country’s government may even impose a temporary limit on cash withdrawals and transfers in order to prevent capital flight i.e. a mass exodus of financial assets. 

For example, during the May 1998 riots in Indonesia, ethnic Chinese Indonesian citizens were attacked and raped while their businesses were destroyed by enraged rioters. As a result, Indonesia was hit hard by the sudden outflow of capital as ethnic Chinese citizens fled the country taking everything with them.

Being in a digital form with no tangible presence, cryptocurrencies can easily be transferred from e-wallets with little-to-no fuss thus making them extremely useful in times of crisis. As we’ve seen by the implosion of the Venezuelan economy, fiat currency often becomes worthless in times of great strife.

3. Cryptocurrencies are gaining widespread acceptance

While gold may be a precious metal, chances are good that you won’t be able to pay for many goods and services with an actual bar of gold. On the other hand, cryptocurrencies like Bitcoin have been seeing a gradual increase in acceptance worldwide.

Companies like Microsoft and a variety of other retailers all over the world have begun accepting Bitcoin payments with the list growing larger by the day. This makes cryptocurrencies an extremely worthwhile safe haven investment thanks to their flexibility and use worldwide. 

Cryptocurrencies could very likely be the way forward however care must be exercised when investing. The volatile nature of crypto and the lack of regulation means that scams and theft are extremely common which inhibits their ability to be a safe haven investment. However, as the market matures anything can be possible.

When you start trading in cryptocurrency, one of your topmost concerns will always be finding a platform where you can exchange different currencies. It is not just about conversion from one cryptocurrency to your preferred fiat currency, you also need conversion between digital currencies. The need for a reliable exchange is something you cannot take for granted. 

There are currently several exchanges in the market from where cryptocurrency traders and investors can exchange different currencies. Everyone has specific needs they look out for when searching for a reliable exchange. Regardless of your personal needs and preferences, there are some features that cut across most traders and exchange platforms. Remember that the ultimate decision depends on what you wish to achieve from the exchange platform and your investment profile. With this information, let’s have a look at some of the features that you will find in BestChange.com, making it your reliable exchange partner below:

Exchange Reputation

One of the first things you look for is an exchange that is well-known in the industry. Reputation is important because you need to safeguard your investment. This is one of the benefits you get from BestChange.com. Reputable exchange platforms go out of their way to make sure that their clients are taken care of. They have security measures in place that ensure your accounts and transactions are protected and their operations transparent.

Reputation goes over and above security and user reviews. An important aspect of a good reputation is to ensure that investors are able to enjoy all services through a user-friendly service. This is one thing that Bestchange.com takes seriously. The easier it is for users to get around the platform, the smoother it is for them to exchange currency and have a seamless transaction. When you check reviews, you realize that there are many investors who appreciate this. A user-friendly interface also makes it easier for users to trust the platform because it does not have unnecessary complications. Therefore, if you perhaps, need to convert ethereum to bitcoin, you can do it smoothly.

Transaction Fees

Another important factor you need to look at in an exchange platform is the cost of transactions. There are a lot of exchange platforms out there, all which operate under different business models. One thing that investors need is transparency especially when it comes to transaction fees. You want to know upfront, what it will cost you to buy bitcoin with debit or credit card.

When it comes to online transactions, no one likes nasty surprises. Knowing how much a transaction costs, or how much you need to have to obtain a certain amount of cryptocurrencies is important. This is a level of transparency that BestChange.com emphasizes so that you can conduct exchanges comfortably.

While still on transaction fees, BestChange.com has a list of exchanges that you can choose from. This way you can see the ranking in terms of their exchange rates and select one that suits your investment threshold. As an investor, knowing transaction fees beforehand is helpful so you can make an informed purchase or selling decision. Knowing how much it costs to conduct a transaction on BestChange.com is possible thanks to the convenient calculator that is built into the platform.

Transparency and Verification

Reputable exchange companies go out of their way to make sure that all their clients’ needs are taken care of. Towards this end, it is important to focus on the integrity of the exchange platform. This transparency is also important to safeguard investors against money laundering and scammers that have infiltrated cryptocurrency platforms and other digital trading platforms online.

For users’ safety, BestChange.com uses dozens of parameters to check all exchangers before adding them to their platform to ensure that only reliable, credible and legitimate exchangers are listed on their platform. In some cases, the company verifies the exchanger owners’ data as an extra security measure.

As an investor, you are always shopping around for the best exchange rates so that you can maximize the utility in your digital assets. The fact that BestChange.com has quite a number of exchangers means that at any given point in time, you have access to different options, increasing your chances of getting the best rates.

Convenient Trading

One thing that most investors are always looking for is an affordable service when exchanging currency. There are over 240 trusted exchangers on BestChange.com, all whose profiles are verified. The ease with which you can conduct business on this exchange platform is another reason why you should consider it. There are several tools that are built into the website that will make your work easier.

First, in as far as security is concerned, you are guaranteed that your transactions and accounts are always safe. BestChange.com uses some of the best security protocols in the industry to ensure this. Building on that, you can also choose to receive information regarding your reserves amount or some exchange rate you have been monitoring. All this is information that can help you make the right choice at the right time, and invest wisely. 

You can turn on notifications on the website, or opt into the Telegram account for more information. In financial investment, getting the right information at the right time can be the difference between making profits or a loss. With all the tools available at your disposal, you should benefit from using this platform to exchange currencies.

When it comes to choosing an exchange platform, everyone has some specific needs that they hope to meet in their preferred platform. There are many platforms out there that offer a variety of services. When you have everything you need in one place, it gets easier for you to maneuver in the market and find exchange rates that suit your financial needs.

 

There are many conversations going on about machine learning and artificial intelligence in the world at the moment. We are at a point where we are increasingly integrating machines into our lives. With seamless integration, machines can take away the challenge of struggling with recurrent and repetitive tasks and let us focus on more qualitative concerns. One of the benefits of the artificial intelligence revolution is that it has seen increased automation in many fields, including finance and investment.

Given the increasing use of artificial intelligence in conventional financial investments, it was only a matter of time before the cryptocurrency market would follow suit. This concept has been exemplified by World Markets by creating trading accounts that are managed by AI. One of the leading names in finance and investment, JP Morgan has been a champion for integrating machine learning in managing operations and from their success, many other entities are fast embracing AI. With more than 75% of trades accounted for through algorithms, it is fair to admit that AI is the future of financial investment.

Managing Emotionalism

If there is a characteristic that is native to the cryptocurrency market, it is high emotionalism. There are many people who have invested in the market driven by sentimentalism. This was particularly evident in the Bitcoin chase in 2017-2018. Speculative traders are present in every market. Developers found it relevant to come up with solutions that would assist such traders and increase their chances of getting profits from their returns. 

In as much as there is a lot of interest in the market about cryptocurrency, many of the investors do not really understand the ins and outs of cryptocurrency. They do not understand the technology behind it, let alone the financial aspect. Such traders, whose sole aim is to make profits, benefit from using artificial intelligence in their trades because it takes away the challenge of dealing with valuation predictions.

Companies like World Markets have since invested in systems that can understand and make decisions in the global financial markets, making it easier for clients to earn profits. The AI systems deployed by World Markets are built to be aggressive, intuitive and innovative enough to outclass the traditional trading systems or decision-making process of a conventional investor in the cryptocurrency market.

Many people struggle with sentimentalism when investing in cryptocurrency. This clouds their judgment, making them buy into currencies without proper research. AI effectively eliminates this problem, giving the traders a good footing in cryptocurrency investment, and making it easier for them to earn revenue.

Transparency in Investment

One of the benefits of using AI in cryptocurrency trading is the huge savings in terms of fees. Most managed investment accounts charge around 30% in fees. On the other hand, AI managed accounts charge around 20%, allowing the investor more savings. Other than that, a lot of traditionally managed accounts come with upfront fee requirements which have proven a challenge for many investors. This is not the case with World Markets trading accounts. There are many other investment instruments available at World Markets that do not attract upfront fees, making this a good investment platform for investors who worry about the traditional costs of investment transactions.

Transparency is one area where many investors struggle to find a reliable partner. There are a lot of trading companies that promise one thing but when you read the fine print, you realize that there are many loopholes through which your earnings potential can be exploited. With World Markets, this is something you don’t have to worry about anymore. Transparency is important in that it creates a level of trust in the business. You don’t have to worry about your account being abused by management as has been the case with many investment companies in the past.

The only fees applicable to your account are charged on your profits. This also means that your account is not charged when you lose a trade, not before the equity is earned back in the market. This is the kind of transparency that many investors seek but is elusive in conventional trading companies.

Securing Your Account

Security is another important feature that you will come to appreciate when dealing with World Markets. Security for World Markets goes beyond protecting your account from abuse. It is also about safeguarding your earnings potential. There are systems in place to mitigate losing positions in the market as much as possible. While it is easy to get into a winning position, maintaining that position with a credible risk level proves a challenge for many investors. Through AI, World Markets is able to do this for you and assure you of significant returns on your investment.

World Markets has intuitive risk management procedures in place to ensure that the systems can determine the risk profile of any position before executing it. Therefore, by the time your account enters into any position, the risks are already weighed and mitigated, such that your exposure is reasonable.

If you have been keen on the happenings in the financial markets over the past few months or years, you will notice that there has been an increase in account breaches. Oblivious of the threats lurking around the internet, many investors have lost a lot of money from account breaches. To mitigate this problem, World Markets has in place military-level encryption to protect client accounts. Other than that, all accounts feature 2-Factor Authentication, so you will always be ahead of the threat.

The management team and traders who handle your account are only allowed Trade-Only access. This means that the only thing they can do with your account is to trade. They cannot transfer funds or execute any other transaction. 

In retrospect, the cryptocurrency and AI are made for each other. Decentralized currencies are traded on the blockchain, so when it comes to profitable trading in cryptocurrency, you can always count on AI to execute thousands of calculations efficiently. This will also help you in as far as analytics needs are concerned. The fact that all this can be done faster than any human can, makes AI your best bet for cryptocurrency investment going forward.

 

Investors have predicted in the coming years it is time for a recession.  This is when the economy does a downturn that affects investments. Many investors during this time will seek shelter or more stable safe havens to ride out the downturn.  And, that tried and true option in the past has always been gold. According to Lear, when investments soar, gold doesn’t soar along with it, but when there is a drop, gold usually will steadily increase.  However, in this new and digital age, we are seeing investors looking at Bitcoin as a safe haven option as well. This is due to the fact that there is a limited supply, like gold which makes it the digital gold of the future.

Bitcoin and Gold Comparison

Bitcoin and Gold have a lot in common.  There are limited amounts available in the world.  The creator of Bitcoin ensured that there would only be 21 million Bitcoins.  Bitcoin, like gold, is not issued by some central banking system. Gold and Bitcoin are both not regulated by the economy of just one country either.  They are both very much a global trade. Bitcoin and Gold are very common in that they are rare to obtain and they both are hard to corrupt. This means that you cannot “fake” the system with “fake” gold or Bitcoin easily, as you can with traditional currencies.  

Gold is far more liquid than that of Bitcoin.  This means that more people are willing to give cash quickly for some gold than they are for bitcoin.  The exchanges for Bitcoin can have withdrawal daily limits that are imposed on the owner amongst other things that make it harder to liquidate fast.  

Bitcoin’s Nature

Bitcoin is far more volatile in recent years with the spike in 2018 at $20K and then dropping to around $4k per coin.  It has since recovered some, but the growth is more slow and steady, similar to what you would expect with Gold. Because of this, some alternative coins that are backed by gold have popped up on the financial option horizon.  And, there are other coins that are linked to the US dollar, these coins are known as stablecoins. These coins are similar to the idea of gold backing up the US dollar before the 70s. This is a great option for those that are not so impressed with the volatile nature of the Bitcoin.

Both Gold and Bitcoin have amazing baseline values.  From the beginning of time Gold has always had value and was traded across countries and even used as its own currency for some civilizations.  Bitcoin also brings a lot of value to people that don’t have the proper banking structures. In fact, there are many parts of the world that don’t have proper banking systems and Bitcoin makes banking possible for them with very little fees.  

Gold and Bitcoin are great safe haven investments

Gold is a great safe haven option.  It offers limited amounts just like Bitcoin.  This means that we cannot simply go and “print” more or make more gold or bitcoin.  Whatever the amount of the mineral is here on Earth is all we have. It is very valuable in manufacturing and offers all kinds of uses.  Bitcoin is very similar in that it offers many people around the world a way to safely bank and brings value to the table with its ease of use.  It too is recognized around the world as something of value. Because of these reasons, Gold and bitcoin are both pretty great places for a safe haven investment.

Whether you’re new to Bitcoin or just want to brush up on your knowledge, it all starts with a wallet. Without a Bitcoin wallet, there’s nowhere for you to keep your cryptocurrency. 

In this guide, we’ll walk you through… 

• What a Bitcoin wallet is and how it works. 
• The different types of wallets you can use. 
• What cold storage is and how it works. 
• What multi-signature means and how it works. 
• Where you can find the safest and most convenient Bitcoin wallet. 

If you’d rather skip the intro and learn more about the best solution, then check out NordikCoin right now and find out how you can get a safe Bitcoin wallet and start trading in minutes. 

What Is A Bitcoin Wallet? 

A Bitcoin wallet is simply a place where you can store your Bitcoins. It’s made up of multiple public and private keys that are used to conduct transactions and access your money. 

A public key is also known as a Bitcoin address, and it works like a bank account number and sort code for your wallet. People can use your public key to send you Bitcoins. 

A private key is what you use to access your funds. It works like the PIN number for your bank account. Only you should have access to it, otherwise, you could lose your Bitcoins. 

Since a Bitcoin wallet is simply strings of code, it comes in many shapes and sizes: 

• Desktop wallets. 
• Hardware wallets. 
• Mobile wallets. 
• Online wallets. 
• Paper wallets. 
• Steel wallets. 

What Are the Different Types of Bitcoin Wallets? 

There are many kinds of Bitcoin wallets and many brands that make them. Not all of them are equally safe, but the safest wallets typically come at the price of convenience. 

It’s also worth noting that not all wallets support every type of cryptocurrency. Most wallets support Bitcoin, but it’s a good idea to shop around if you need to store other coins and tokens. 

1. Desktop Wallets 

A desktop wallet is an app you can install and access on your desktop (or laptop) computer. You can use it to send and receive Bitcoin and can require different levels of passwords and security. 

Here are some of the most popular desktop wallets: 

• Armory. 
• Electrum. 
• Exodus. 
• Guarda. 
• Jaxx. 

A desktop wallet is one of the safer options when it comes to Bitcoin wallets since you can disconnect your computer from the Internet. 

2. Hardware wallets 

A hardware wallet is a real, physical device you can use to store your private keys. Many of them come with their own software and use two-factor authentication to protect your Bitcoins. 

Here are some of the biggest hardware wallet brands: 

• ColdCard 
• Corazon 
• KeepKey 
• Ledger 
• Trezor 

Hardware wallets are often touted as the most secure way to store your Bitcoin because they’re not connected to the Internet. 

3. Online Wallets 

An online wallet is any Bitcoin wallet that you can access via a web browser. Although some websites offer online Bitcoin storage, there’s rarely a need to use such third-party providers. 

You’ll automatically be assigned an online wallet when you create a trading account on a cryptocurrency exchange or when you sign up for a Bitcoin debit card. 

Online wallets are easy to set up and access, but they’re also the biggest security risk. That’s why many exchanges have been hacked and traders have lost their Bitcoin. 

NordikCoin is one of the few Bitcoin exchanges that use a multi-signature cold storage system to keep your Bitcoin safe. That way, you can enjoy the convenience of an online wallet with the added security of a hardware wallet. 

4. Mobile Wallets 

A mobile wallet is an app you can download to your phone or tablet. They’re pretty similar to desktop wallets, except they’re not as secure because smart devices usually are online. 

Here are some popular mobile wallets to check out: 

• Breadwallet 
• DropBit 
• Edge 
• Mycelium 
• Samourai 

You can easily find a mobile Bitcoin wallet by searching for “Bitcoin wallet” on the App Store or Google Play. 

5. Paper and Steel Wallets 

Finally, it’s possible to keep your Bitcoins safe… on a piece of paper. You can write down your private key on a piece of paper and keep it safe there. Alternatively, you can use a service like BitAddress to generate a private key and print out as many copies as you want. 

The problem with paper wallets is that paper can wear, tear, get wet or burn up. 

That’s why steel and titanium wallets are becoming popular. With these wallets, your private keys are either etched, engraved, or hammered into a virtually indestructible material. Not only can they withstand the heat if your house burns down, but they’re also water- and corrosion-proof. 

What Is the Best Bitcoin Wallet? 

That depends on your individual needs. If you value convenience, then you should use an online or mobile wallet, since they’re easy to access and use to send and receive Bitcoins. 

However, any wallet that is connected to the Internet is susceptible to attacks. If you’re very concerned about security, then your best bet is a hardware or steel wallet. 

Fortunately, there is a third way. 

NordikCoin is a Bitcoin exchange that combines convenience and security. When you use our exchange, you enjoy the benefits of an online wallet, which means you can access your funds quickly and easily. But you’re also protected by our multi-signature cold storage solution so hackers can’t get to your Bitcoin. 

What Is Cold Storage? 

Wallets that are connected to the Internet are usually referred to as “hot wallets,” because you’re able to send and receive funds instantly. 

Cold storage is the practice of disconnecting your wallet from the Internet, which typically means the private keys to your Bitcoins are stored on a hardware device or physical objects like paper or steel. 

Cold storage solutions are therefore the safest way to store your Bitcoins, which is why we’ve opted for that system at NordikCoin. 

What Is A Multi-Signature System? 

Cold storage solutions can still be accessed by third parties if they have the key, which is why it’s good to add a multi-signature system as an extra layer of protection. 

So how does that work? 

Imagine that you have three keys for your wallet instead of just one. You need two of the keys to access the Bitcoins in your wallet. One key is stored in your smartphone, another key is stored in your safe at home, and the third key is with your multi-signature provider. 

When you head down to the store to make a purchase, you use the key on your phone by typing in your password. A message is sent to the multi-signature provider, who then checks that the password is correct, your location makes sense, and that it seems like a legitimate transaction. 

In a way, it works similarly to when credit card companies verify transactions. 

We use a multi-signature system along with cold storage to protect the Bitcoin you store with us at NordikCoin. That way, you’re sure that nothing can happen to your hard-earned cash. 

Ready to Create A Bitcoin Wallet? 

As you can see, the options are many when it comes to creating a Bitcoin wallet. We hope that you know have a better understanding of how it works and which option is the right one for you. 

Here’s a quick recap of what we’ve covered: 

• Bitcoins wallets consist of public and private keys. 
• Public keys are used to receive Bitcoins. 
• Private keys are used to send and spend Bitcoin. 
• Desktop, online, and mobile wallets are convenient but less secure. 
• Cold storage and multi-signature systems are the safest options. 
• NordikCoin combines the convenience of online wallets with the security of cold storage and multi-signature systems. 

If you can’t wait to get started with buying and selling Bitcoin, then head over to NordikCoin now and create an account in less than five minutes. Once you’re all set up, it’s just a matter of seconds before your first Bitcoins are in your secure wallet. 

Happy trading!