Cryptocurrency explained: Blockchain, Investments & Co.

Cryptocurrency is nothing more than digital money. Here, all the important data around the holder and transaction is encrypted and stored. Instead of storing all this on just one server, the transactions are found in a decentralized network – also called: The Blockchain. This technology makes transactions faster, more secure, and less expensive than they would be otherwise. Sounds like the future? Read our analysis here: cryptocurrency development.

No investment advice or purchase recommendation!

All information provided here does not constitute investment advice or a recommendation to buy. All statements are my general published opinion. I have obtained the information from my experience as a private investor. This experience report cannot and is not intended to replace personal investment advice from professionals.

Owning and trading cryptocurrencies brings many advantages. Transactions take place directly between the buyer and seller. It is a decentralized network. So, unlike a bank transfer, exchange and bank fees are eliminated, as are transfer limits and unnecessary waiting times. Bitcoin trading is therefore not only uncomplicated, but also anonymous and secure. Instead of the own name, all crypto assets are managed with an identification code. The blockchain technology also ensures that transactions are constantly checked in advance, making any manipulation and forgery almost impossible. Learn more about the technology, course and trade explained here: BitCoin, cryptocurrency & blockchain.

Reading tip: Which app do I use to buy and sell shares, cryptocurrency & Co. Here is the answer! My recommendation: Trading App.

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Trading with Bitcoin, Ethereum, Litecoin & Co.

The cryptocurrency Bitcoin is now a household name. It is the most popular, but by far not the only one. In the meantime, several new creations have emerged. Some of the others are Bitcoin enhancements. Thus, there are now over 4,500 cryptocurrencies. While that sounds like a large amount, only just under 100 of them achieve a daily trading turnover of $1,000 or more. Other popular cryptocurrencies are Ethereum, Ripple and Litecoin.

Cryptocurrencies – List

Here you can find a selection of interesting digital currencies:

Binance Coin (BNB)

• Binance Coin (BNB)

Bitcoin Cash (BCH)

• Bitcoin Cash (BCH)

Bitcoin (BTC)

• Bitcoin (BTC)

Cardano (ADA)

• Cardano (ADA)

Dash

• Dash

EOS

• EOS

Ethereum

• Ethereum

Ethereum Classic (ETC)

• Ethereum Classic (ETC)

IOTA (MIOTA)

• IOTA (MIOTA)

Litecoin (LTC)

• Litecoin (LTC)

NEO

• NEO

Ripple (XRP)

• Ripple (XRP)

Stellar (XLM)

• Stellar (XLM)

Tezos (XTZ)

• Tezos (XTZ)

TRON (TRX)

• TRON (TRX)

ZCASH (ZEC)

• ZCASH (ZEC)

Questions and answers: cryptocurrency

So now you know what the blockchain technology is, what cryptocurrencies there are and what advantages trading Bitcoin and Co. brings with it. Finally, you will get all the important questions about trading with cryptocurrencies answered:

Which is the best cryptocurrency?

The best cryptocurrencies include the classic Bitcoin, as well as IOTA, Ripple, EOS, Litecoin, Binance Coin and Tether.

Which cryptocurrency has a future?

According to forecasts, Bitcoin, Ethereum, Ripple and NEO have the most potential to increase in value in the future.

Are gains from cryptocurrencies tax-free?

The speculation period for cryptocurrencies is one year. If a profit of 600 euros or more is made during this period, the total profit must be taxed. So if the coins are left in the wallet for at least 12 months and only paid out after the speculation period, no taxes are due.

Should you invest in cryptocurrency?

Only invest in cryptocurrency if you are familiar with blockchain technology, different currencies and wallets. After all, this is a decentralized network based solely on demand. So always be aware of the risks and only invest if you are really sure and familiar with cryptocurrency trading.

Cryptocurrency: reading tips

1. Trading App: Recommendation
2. Trading strategies

Trading App: Recommendation

eToro App – Trade stocks, ETF, cryptocurrency, in my blog you have already learned a lot about trading. Lots of questions of course: which app do you trade with, what do I recommend? So today I want to share with you my favorite trading app, eToro. 29.88% asset growth in 12 months, with low risk through “Copy People” and “Copy Portfolios” or up to 127.35% through active trading and trading strategies. Learn about the app, fees and more here step by step.

• Trading App

Trading strategies

Whether it’s crytocurrency, currency trading, stocks, commodities or precious metals, these 3 strategies will help you understand the basic stock market game. I developed these 3 strategies to help beginners and novices understand the mechanics in a nutshell. Since I grew up with Bitcoin rather than stocks, here in particular a strong reference to digital currencies. But the mechanisms or strategies are the same for these 5 investment types: crytocurrency, currency trading, stocks, commodities or precious metals. I would exclude ETFs and index funds, as the risks and price fluctuations are significantly lower here.

• Trading strategies

Did you already know? Open transactions in the blockchain

Cryptocurrency itself is, simply put, a coded chain of data. The so-called blockchain.

How does cryptocurrency work?

Everything is set up as a P2P network (peer-to-peer). Data is therefore stored in a decentralized manner. All data blocks are linked to that of the predecessor. Within this distributed database, all transactions are actually known!

The whole thing is therefore a network in which cryptographically signed messages are published – technical term: blockchain. You want to have a look at these transactions? Here you can see live how individual trades sometimes sell up to 100 Bitcoins and how sums in the millions go over the table:

• Bitcoin transactions – live on blockchain.com
• Ethereum transactions – live on blockchain.com

Conclusion of contract online – right of withdrawal

What is the right of withdrawal for online contracts? If you search for a property on the Internet, you will usually find offers from real estate agents. In this respect, many prospective buyers ask themselves at what point they enter into a contract and place an order with the estate agent commissioned by the owner. Before you receive further data far from the information published on the Internet, you will be sent a cancellation policy by the real estate agent.

Only when you confirm it, which is done online with one click, the broker will act for you. You should know that at this moment you are entering into a contract and agree to pay the commission demanded by the agent if you decide to buy the property.

Financial commitments

If you are not convinced by the property after receiving further information or even after a viewing, you will not incur any costs. In this case, the contract is not concluded, so you have no financial obligation to the real estate agent. The situation is different if you decide to buy the property. Should you wish to negotiate the commission and lower it, for example, speak to the estate agent before accepting the cancellation notice. Once you have concluded the contract with one click, subsequent negotiations are usually not crowned with success.

Commission payer has 14-day right of withdrawal

In general, you can revoke the contract within 14 days without giving any reason. The revocation requires that you inform the broker in writing or by e-mail that you do not want any further services. The revocation instruction is basically directed to the contractual partner who is responsible for the payment of the commission.

Ifyou commission a real estate agent to find a solvent tenant, the right of withdrawal applies to you as the owner. If you want to buy a property, you are obliged to pay commission when the sale is concluded, so in this case you are the party entitled to revoke. In general, either party can revoke the contract if there are concise errors in the right of revocation or if the revocation instruction was not sent correctly and in written form.

Broker contract: tips and help

You want to sell a house or an apartment, have no experience in the real estate market and want to avoid mistakes at all costs? Then you are well advised to use the comprehensive services of an estate agent and simplify the time-consuming and complex sale of your residential property. When you hire an agent, you don’t have to factor the sale of your property into your schedule, as all tasks are handled directly by your real estate agent and carried out in your best interest.

Tasks of a broker

Basically, a real estate agent fulfils all tasks that are important before and during the sales and rental phase. He creates an exposé, determines the market value of your property, advertises your property and is then the interface between you and interested parties. While the creation and publication of an advertisement is a time-consuming but unique task, answering customer enquiries is part of the daily business of an estate agent.

• Here you can find more information about the tasks of a broker.

Commission for the broker – The most important regulations

More than 80 percent of all properties for sale or rent are brokered. This means that the owner commissions a real estate agent to advertise the offer and to carry out all tasks up to the conclusion of the contract on his behalf. Professional brokerage is a service that is agreed between the client and the real estate agent. After the service has been rendered, a commission, the so-called brokerage fee, is due. Who pays the commission depends on the type of commission and the reason for the commission. If you sell your property through an estate agent, the buyer usually pays. In the case of lettings, the buyer principle has applied since 2015, so that the invoice recipient and commission payer is identical to the person who has commissioned a brokerage service.

• Here you can find more information about the broker commission.