In that case, you are just like the vast majority of other e-currency traders. It doesn’t matter if you are a novice, or an experienced old hand. The problem faces us all: how to find the best rates, without spending the whole trading day looking for them?
The good news is that there is a fast and user-friendly service available that solves the whole challenge. Simply visit us at www.BestChange.com We have been tracking movements within the e-currency market ever since 2007. Several million users have benefitted from our up-to-date monitoring to find the best rate for their exchanges during that time.
It is very easy to benefit from BestChange.com. This is what you do:
1. Select the e-currency you wish to exchange in the left-hand column
2. Select the e-currency you wish to exchange into in the right-hand column
3. You will immediately see the available, current exchange rate from top exchangers
4. Choose the best rate for you
The entire process only takes a few seconds. Obviously, this enables you to find the most profitable rate without costing any time at all.
But BestChange.com offers other benefits too. It is important to note that you can find much more information than simply get quotes for currency pairs. You also find helpful articles, and in-depth reviews covering leading online e-currency exchangers. It can be a lot to learn by taking the time to check them out. You can also rest assured that care has been taken to vet all the exchange services we include on our list. This helps reduce your risk, and increases the degree of security you can trade with.
If any further guidance is required, just get in touch. Our team of experts will be happy to answer your questions. With more than 10 years of hands-on experience, we should be able to help.
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But let’s sort out, can bitcoin be really used for money laundering?
I think there is no need to explain what money laundering is about – it is done to give criminal money legal status and to “cover the tracks”.
Cryptocurrency sphere with its decentralization, anonymity and almost instant transactions may seem to have become the favorite place for all kinds of financial fraudsters. But there are a few problems with that.
1. Volatility of most cryptocurrencies Although for traders constant price surges serve as a great opportunity to profit, for people using digital currencies as a medium, a fall by 10-20 per cent can be a very serious risk.
2. Difficulty of converting cryptocurrencies into fiat currencies. More and more often the exchangers and exchange markets follow the principles of KYC, CFT and AML. Cryptocurrencies still have a half-legal status in most countries. If a considerable amount of money is transferred into cryptocurrencies, after all the stages of laundering, these cryptocurrencies will need to be transferred back into cash money. That’s how, ironically, half-legal status of cryptocurrencies protects them from criminal activity.
3. The majority of digital currencies are not at all anonymous. All transactions made in blockchain are reflected in a public ledger, where everybody can track from which account the transaction was made, how much money was transferred, and by which account it was received. No, these accounts are not connected to names and surnames, but these are easily trackable by IP. There is a limited number of currencies the main task of which is totally anonymity of transactions (Monero, Zcash, Verge and others). But the result of this anonymity is, as a rule, longer time of transaction and its higher price, and difficulty of conversion due to lower liquidity.
It cannot be absolutely excluded that bitcoin might be used in illegal deals, as any currency in the world, in cash or in a cashless way. But incredibly much more often it is the cash, in particular, dollars, which is used when financing terrorism of laundering money, but the very thought of banning cash sounds absurd.
Notwithstanding all the novelty that comes with cryptocurrencies, the most anonymous and safe way of transaction is giving money from hand to hand. That is why the majority of illegal deals are done with the use of cash. As before, using cash remains more anonymous and complicated for tracking than most of cryptocurrencies.
And what do you think? Do you believe that cryptocurrency is only good for illegal deals?
Before money people used bartered goods as payment; for example, animal hides and teeth. Livestock was the most valuable commodity. Shells were also used; snail shells were very popular in China. Other goods used for payment were tools, beads, salt, crops, weapons and tobacco.
The first standardized coins were created in what is now western Turkey by King Alyattes around 7th century B.C. They were made of electrum, a naturally occurring amalgam of gold and silver. In Rome, coins were minted near the temple of the goddess Juno Moneta, which gave us the words "mint" and "money". Offa, an Anglo-Saxon king, introduced the first English coin known as the penny around 790 A.D. Because of a copper shortage, China introduced the world’s first paper money in the 9th century - 700 years before Europe did so. In the 1500s the St. Joachimsthal mine in what is now the Czech Republic introduced large silver coins called thaler. The Spanish version of the thaler became the first worldwide currency. The English called it the dollar, and the U.S. dollar was based on it.
Modern Money. The first U.S. government-backed paper bills were introduced during the Civil War. The term "greenback" comes from the intricate designs on these bills, meant to prevent counterfeiting. The largest bill in history was the 1946 Hungarian 100 million Pengo; the name was spelled out on the bills since so many zeroes couldn’t fit on the banknote, but it was only worth $0.25! The $100,000 1934 Gold Certificate was the largest bill ever made in the U.S. It was used for Federal Reserve transactions and not released to the public. The largest coin ever minted was in Australia in 2011 weighs about a ton. A U.S. nickel weighs just 5 grams—roughly as much as a hummingbird. As of 2018, there are 180 different currencies used around the world.
Bitcoin, invented in 2009 by the pseudonymous Satoshi Nakamoto, became the gold standard--so to speak--for virtual currencies. Virtual currencies have no physical coinage. The appeal of virtual currency is it offers the promise of lower transaction fees than traditional online payment mechanisms and is operated by a decentralized authority, unlike government issued currencies.
Despite many advances, money still has a very real and permanent effect on how we do business today.
But the service was succeeded by one of the largest cryptocurrency exchanges Coinbase. The representatives of the exchange announced launching debit Visa cards with a possibility of payment with cryptocurrencies from the exchange account of the user.
It is announced that Coinbase Card will support all cryptocurrencies available at the exchange, and the users will be able to spend them on any purchases, whether it would be food in supermarkets or public transport tickets. The conversion process will be automatic and instant at the moment when the user makes a transaction using the card.
The exchange’s clients will be able to choose the cryptocurrency they are planning to spend on purchasing goods with the help of a special mobile app. Moreover this app features an option of receiving a check, viewing transaction and purchases categories.
The British payment operator PaySafe will be issuing the cards. For the time being only the UK citizens can use the service, but in a few months Coinbases is going to implement their innovation in other European countries.
And what about you – would you like to have such a card? Is there a sense in such cards?
Blockchain technology differs from a traditional data base by the principle of organizing information. Classical data base is hosted on servers specially designed for it and these servers are controlled by organization that owns this data base. Blockchain is not controlled by a person or organization and its security is ensured by its distributed architecture.
Block technology allows different sides not having trust for each other to exchange data without the central server. Processing and storage of transactions is carried out by all users at once. After adding data to the network by one of the participants, all other nodes of the network are used to check and confirm the correctness of these changes. In a decentralized blockchain the information is stored on all computers of all users at once, and not on a single server, which protects the network from hacking and data spoofing.
The more network participants and nodes, the more data copies. To change data in this situation one need to hack every single node in the network and modify all data simultaneously. Every block in a chain has a certain block of data, and when this block gets filled, the data gets encrypted and written in the network forever. To change data in any transaction, hackers would need not only the current block, but also all the next ones which is not only practically impossible, but also too expensive.
Adding blocks is carried out using cryptographic methods of protection and this guarantees the reliability of data without a universal processing center. However, constantly growing size of the chain of blocks can make its storage and synchronizing more difficult.
If data that is relevant only for the current time, is recorded in the usual database, the blockchain stores operations for the entire history of its existence. The system is designed in such a way that all transactions remain unchanged - they cannot be deleted.
Given its characteristics, the blockchain technology offers the ability to create enterprises and carry out operations that are quite flexible and safe. Today, the blockchain is beginning to be actively introduced into banking systems, property registration systems and various state registries, supply chain management, and in such areas as digital identity, energy, voting, games, the Internet of things and other.
You can find a good exchange rate for buying any cryptocurrency on our website BestChange. com.
Would you like to know more about this technology? Maybe you’ve got some questions about blockchain? Please ask in the comments and we will find the answers together.
Let’s elaborate on what is known so far. The first step was taken in 2007 with the writing of Bitcoin code. In November 2008, a programmer, or a group of programmers, using the name of Satoshi Nakamoto published the whitepaper on the Cryptography Mailing list. It was titled “Bitcoin: A Peer-to-Peer Electronic Cash System” and paved the way for the Bitcoin protocol.
On January 3rd, 2009, the first Bitcoin block ever was mined. A few days later Nakamoto released the updated 0.1 version of Bitcoin software with some minor bug fixes.
In the beginning, a person calling himself Satoshi Nakamoto was heavily involved with the Bitcoin community and helped them modify the underlying bitcoin protocol on the website Bitcoin.org, he – or she – had created. Satoshi remained a mystery, as the person behind this name did not reveal any personal information during the entire time of cooperation with other developers. After two years of active collaboration, Nakamoto handed the reins to Gavin Andresen, and ceased any involvement with the Bitcoin project in December of 2010.
In April 2011, Nakamoto emailed a software developer that he had “moved on to other things,” and that Bitcoin was “in good hands with Gavin and everyone.” From then on nobody has heard anything from Bitcoin’s secretive creator.
The mystery behind Nakamoto’s identity has only grown, as the Bitcoin community eagerly speculates who it could potentially be. Satoshi Nakamoto claims to be Japanese, born on April 5, 1975. To this day, it is unknown whether Nakamoto is male or female, or whether Nakamoto is even a single person or a group of individuals. Satoshi is quite a common Japanese name, and Nakamoto, though not being a top popular surname, still isn’t rare.
But the fact that his Bitcoin documentation hasn’t been published in Japanese and his perfect knowledge of English, with a twang of British English, created some suspicions among other Bitcoiners.
Some community members analyzed Nakamoto’s activity on the bitcoin forum, and their findings reveal that the chart of timestamps would suggest an unusual sleeping pattern for Japan, but be more characteristic of that of in the UK, hence giving away possible location of the posts’ author. The media has also done its digging in looking for the person behind the name Nakaomto. But the candidates they have dug up have rejected any credit for the invention of Bitcoin so far.
One thing is clear, the key to his disappearance and secrecy is possibly his huge wealth. Imagine holding 7.5 per cent of the world’s bitcoin and not being able to spend any of it.
Spending this Bitcoin on an open and transparent blockchain would be akin to coming out. Not only would every government in the world know who you are but also some very unsavoury elements who could cause you real potential harm.
The mystery of the inventor of Bitcoins remains unsolved today, but his cause is continued by the many brilliant developers of the Bitcoin community.
As always, we at BestChange.com are trying to be interesting and useful for you, that is why your opinion matters. Please tell us if you find this information useful and what other topics would you like us to cover?
Of course, the received data cannot be absolutely accurate — otherwise we would have needed to get an access to all transactions of exchanging, appearance and disappearance of all existing during this time exchanges and exchange offices, information about private exchangings.
Our method is based on comparison of all possible options of purchase and sell for the last 1963 days (during the period between 27/12/2013 and 12/05/2019). We took all 1'925'703 possible options of purchase and sell at the average price on this day and multiplied it on the probability of making a transaction on this or that day. We established probability based on trading volume in this pair of days as relating to all trading volume for 5,5 years. We did not take into account trading within the day and possible private exchange operations. All data is available publicly and can be viewed on the site coinmarketcap.com
According to our calculations, if the number of investors will tend to infinity, then on average all these investors that bought and sold bitcoin on random days for the past 5,5 years, have earned 180 per cent of their capital. It does not mean that you can earn the same in the future, or that the majority of investors have earned, and not lost, on bitcoin in the past. This is just an approximate number the investors could have earned on average during this time (somebody lost 80 per cent, when another earned 1000 per cent).
Currently bitcoin shows remarkable results again and has already overcome the $8000 mark. If you decide to buy bitcoin at the best rate, you can always find the most profitable option with the help of our monitoring BestChange.com.
Would you find interesting calculations for other cryptocurrencies? Maybe you have advice or wishes how to improve our method?
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