Wednesday, January 8, 2020

Binance Cryptocurrency Exchange

Sign up to Binance Cryptocurrency Exchange 

Cryptocurrency is the worlds most recent and advanced form of money and investing today as we know it. Ever since the launch of its biggest counterpart Bitcoin, created in 2008 and launched in 2009, other forms of this virtual money have adopted to be established known as cryptocurrency. Currently there are around 1658 cryptocurrencies all adapting from the one that started it all, Bitcoin. Many of the major cryptocurrencies today only have a limited supply of how many can be produced or created in existence. Unlike other forms of stock, money, or investments which the amount of supply can be manipulated to create more and more, similar to the idea of inflation, many of these virtual tokens cannot be recreated or duplicated. Bitcoin has a max supply of 21 million tokens, even though they can be broken into what is known as satoshi or a one hundred millionth (0.00000001 BTC) of a single bitcoin. This is one of the reasons to believe these cryptocurrencies will one day become so valuable since they cannot be reproduced and are only valued at the maximum supply in their existence. Around 4 million of these bitcoins will be lost or unrecoverable forever due to user error or transaction mistakes, and one of the most important concepts is to keep these cryptocurrencies as secure as possible once they are obtained, and like any investment only trade or risk what we are willing to lose. From what I have learned as with other forms of investing is to save and hold the majority of them and to only risk trading to try to make more only of what I would not be willing to lose. I believe these cryptocurrencies despite being a decade old are still in their infant or baby stages of life and will not become extremely valuable until more people learn to use and understand their concept. They are extremely scarce and will only continue to be more and more as we all get to closer to the maximum, limited supply of these cryptocurrencies. They probably won't become extremely valuable until more people start to take adoption and use them, however at that point they will be even more scarce and limited in supply.

Binance is one of the cryptocurrency exchange with the lowest trading fees that I have found, even though like stated before I recommend to hold on to the majority of them and only risk trading a minimum amount until trading with them has deemed profitable because I believe their value will be astronomically greater later on when their total circulating supply and amount of them to exist are more scarce. An even more secure way of storing these cryptocurrencies are not even on online wallets or exchanges but with hardware wallets like the Trezor or Ledger models or in cold storage with only offline access. So far though as long as password strength and 2 factor authentication is met, storing them online has been reasonably secure in the years i had experience with them. I see it as either way a hardware wallet can always have a single point of failure,the hardware can malfunction or a pass code forgotten even though for people with a large amount of the cryptocurrencies the hardware and cold storage forms of securing them are the most recommended ways.

Binance also allows users to buy cryptocurrencies and bitcoins with credit and debit cards even though selling them back to fiat (paper) money would require a different exchange with a linked bank account for them to be sold after they are transferred to the address of the exchange linked with your bank. I would also recommend only selling a minimal amount for fiat money because of how much i believe and even others see the potential for their values to one day skyrocket since unlike paper money and regular stocks there are only so many of these cryptocurrencies that can be created or even exist, no more and no less.

If you want to learn more about the Bitcoin and Cryptocurrency exchange that the company Binance is operating please sign up under my referral link above or below, getting referrals and other people to sign up under your link is also a way to earn cryptocurrency on Binance and other exchanges just like other websites in general. Binance offers a regular wallet to store Bitcoins and a lot of other cryptocurrencies, lending to earn interest on cryptocurrencies you loan, margin trading, and a futures account for leverage trading (more risky because they will spot you up to 125x of what you trade with) for instance 10 usd they will give you 1250 usd max to trade with even though leverage trading has the most reward vs risk. If you are willing to sign up under my referral or sign up in general make sure to create a secure password that is not forgotten and enable 2FA (2 Factor Authentication, 2nd password) with phone apps Google Authenticator or Authy to make sure your account is as secure as it possibly can. They offer SMS or text message authentication even though my recommendation is to use the authentication phone applications as a better way of keeping accounts secure in my own experience over the years of knowledge in Information Technology.

Thank You.