Bitcoin Tops $18,000 In Debut On Major Bourse


Bitcoin surged past $18,000 after making its debut on a major global exchange but was trading lower on Monday, highlighting the volatility of the controversial digital currency that has some investors excited but others nervous.

Trading on a futures contract began at 6:00 pm (2300 GMT) on the Chicago board options exchange (Cboe) at a price of $15,000.

Heavy traffic made the Cboe website inaccessible in the first 20 minutes, but it said that “trading runs on very separate systems and was totally unaffected by the website issues.”

Around 1000 GMT on Monday, bitcoin was trading at $17,600 per unit for the futures contract expiring on January 17 after reaching a high of $18,850, according to Cboe’s website, meaning it exceeded the highest value reached on alternative non-regulated internet platforms.

Futures expiring on February 14 and March 14 were higher, trading at $19,140 and $19,100 respectively at the same time on Monday.

A futures contract is a financial product that allows investors to bet on whether the currency’s price will rise or fall.

Bob Fitzsimmons, a futures manager at Wedbush Securities, described the opening as “quiet and steady,” as Cboe data showed around a thousand trades were made in the first two hours.

The Cboe debut is expected to be followed a week later by a rival listing on Chicago Mercantile Exchange.

READ ALSO – How To Start A Profitable Bitcoin Business

It marks the first opportunity for professional traders to invest in bitcoin on a traditional platform, even as some steer away because of a lack of regulations surrounding the currency.

“It gives it legitimacy. It recognizes that it’s an asset you can trade,” said Nick Colas, of Data Trek research.

Among those cheering the launch are the Winklevoss twins, who have been called the first bitcoin billionaires. Critics include financial commentator Jim Cramer, who warns that prices could tumble once the new trading venues open the door to “short sellers,” who bet on downward moves in assets.

The two launches were made possible after a key US regulator, the Commodities and Futures Trading Commission (CFTC), gave the green light to the exchanges on December 1, while warning “of the potentially high level of volatility and risk in trading these contracts.”

Anticipation of the first mainstream listings for the digital currency has been a catalyst for a sharp price increase in recent weeks. Bitcoin opened 2017 at around $1,000, surged past $10,000 for the first time last month and soared as high as $16,777 on Thursday before retreating somewhat.

– Going mainstream –
The actual opening of the Cboe market, an electronic trading venue, was a low-key affair, lacking the pomp of an initial public offering, which is often marked by the new entrant ringing the bell of the New York Stock Exchange.

The embrace by mainstream exchanges of bitcoin futures marks a sea change from the days when the digital currency was associated with drug dealing and other illicit activities.

The Cboe said it has taken precautions to address wild fluctuations: trading will be suspended for two minutes if bitcoin prices go up or down 10 percent, for instance.

“We are committed to continue to work closely with the CFTC to monitor trading and foster the growth of a transparent, liquid and fair bitcoin futures market,” the Cboe said.

Still, plenty of key figures in and around markets are taking a cautious approach to bitcoin, which has no central bank backing it, and no legal exchange rate.

The Futures Industry Association, which includes some of the world’s biggest derivatives brokerages, criticized the CFTC’s move in a letter to the regulator, saying contracts are being rushed through without properly weighing the risks.

“A more thorough and considered process would have allowed for a robust public discussion among clearing member firms, exchanges and clearing houses,” the association said.

Several leading financial heavyweights are still studying bitcoin and not serving as financial intermediaries. This group includes JPMorgan Chase, Bank of America Merrill Lynch, Citigroup, Barclays, Morgan Stanley and Societe Generale, said people close to the matter.

Of the larger banks, only Goldman Sachs and ABN Amro are serving as intermediaries for the trades. That means most of the terrain will be dominated by smaller entities that are typically requiring larger than usual margin requirements — funds set aside as collateral in case of losses.

The Cboe, for its part, sought to reassure investors.

“We are committed to continue to work closely with the CFTC to monitor trading and foster the growth of a transparent, liquid and fair bitcoin futures market,” it said in a statement.

Wedbush Securities has lifted its margin requirements and is only permitting trades from clients on a “selected” basis, said Fitzsimmons.

“We are commissioning only the select clients who have experience in bitcoins,” he said.

“Our risk systems are ready and we have made sure we have our customers and firm protected by increased margins and increased scrutiny.”

SEE ALSO – 10 Compelling Reasons To Join This Bitcoin Business Opportunity

What Bitcoin Is And What It Is Not?


Bitcoin is not MLM. Bitcoin is not MMM. Bitcoin is not Ponzi.

Bitcoin (BTC) is a digital currency that is generated when a computer miner completes some sets of complex equations with a secure channel on an online public ledger called Blockchain.

BTC can be exchanged directly for fiat currencies like US dollar, Euro, Naira etc on several exchanges worldwide.

READ ALSO​How To Buy And Sell Bitcoins in Nigeria

BTC can be likened to Gold and used as an asset; where you buy and hold, hoping to sell at an higher price.

BTC can be used to pay for goods and services online; it is secure, cheaper with very low transaction fees and faster.

You do not need to HAVE any money to start.

At least, you need to know first.

There are 3 main parts to get started:

Part 1: BTC wallet.
Part 2: Buying BTC (in Nigeria from the comfort of your home).
Part 3: Get returns on your BTC using an online trading system, tested and trusted like this one.

It’s when you get to the 3rd part that you will ever need money.

Information is power. Get informed. Get empowered!

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Download Our Free Report: How To Make Money With Bitcoin

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Expectedly, a lot of people are sceptical about what Bitcoin is and what is not.

Bitcoin started out as a digital currency but it’s gradually becoming a store of value.

Due to the massive adoption by merchants and companies creating solutions around it, more and more people are demanding to get their hands on the king of all cryptocurrencies – Bitcoin.

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All You Need To Know About Bitcoin

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This article gives you all the details you need to know about Bitcoin.

You probably have heard of the recent craze in town called Bitcoin. In town? No, it’s actually all over the world.

But you still do not understand what Bitcoin is and why it is important.

What is Bitcoin?

Bitcoin is a cryptocurrency. And it’s the earliest cryptocurrency. The whitepaper that detailed what Bitcoin was about was released in 2009 by someone with the online name – Satoshi Nakamoto. Bitcoin is not the only cryptocurrency available, there are over 900 cryptocurrencies in the market as at July 2017. By market capitalization, Bitcoin is currently the largest blockchain network.

Bitcoin is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. From a user perspective, Bitcoin is pretty much like cash for the Internet. It is a consensus network that enables a new payment system.

What is a Cryptocurrency?

Cryptocurrency is a medium of exchange like normal currencies such as USD (United States Dollars), but designed for the purpose of exchanging digital information (i.e. products and services for value) through a process made possible by certain principles of cryptography. Cryptography is used to secure the transactions and to control the creation of new coins.

Other cryptocurrencies with huge market capitalization include Bitcoin Cash, Ethereum, Ripple, and Zcash.

How is one Bitcoin formed?

Bitcoins are created as a reward for a process known as mining. Mining is the processing of transactions on the blockchain network using the computing power of specialized hardware.

The Bitcoin network is sharing a public ledger called the “block chain”. This ledger contains every transaction ever processed, allowing a user’s computer to verify the validity of each transaction. The authenticity of each transaction is protected by digital signatures corresponding to the sending addresses, allowing all users to have full control over sending bitcoins from their own Bitcoin addresses.

How Do I Get 1 Bitcoin?

1 Bitcoin costs around $7,464 (or NGN 2,688,984) as of the time of writing this article. You can a whole one or buy a part of it. Depending on the country you are, you can buy directly with an exchange service like Coinbase or Luno or you can use a dealer in your local country.

Here is a list of exchanges.

You can also offer a service and be paid in Bitcoin. There are now several global merchants receiving payments in Bitcoin. Here is a list of companies that accepts Bitcoin as payment.

You can also buy from someone near you.

You can invest in a fund or business that has invested in Bitcoins such as this one.

You can take the long route by investing in mining equipment and be rewarded through competitive mining as described above.

Final thoughts:

Bitcoin is here to stay even though a lot of people may not believe in it. Blockchain technology has more important uses beyond payment, which will further increase the popularity of Bitcoin and other cryptocurrencies.

As internet companies were suspected and not given much of a chance in the late 90s and early 2000s, the same is Bitcoin and the technology behind it today.

Now, internet companies like Amazon, Alphabet (Google’s parent company) and Facebook are generating insane amounts of money and commanding such great influence around the world today.

Bitcoin can also be seen as an investment.

Why? There are only 21 million Bitcoins that can ever be mined. As of 2017, 17 million Bitcoins have already been mined. Do you understand what this means? It means that once the 21 million Bitcoins has been mined, the demand we will see will be more overwhelming than what it is now. This demand will equivalently drive the price up.

The demand will increase because more Bitcoins can not be mined and it will now be only circulated.

Investors typically use Gold (with just about 155-171 kilotons ever mined) to hedge their bets when economies are getting derailed. Now, they are gradually turning to Bitcoins. This will further drive the price up.

Now, is the best time to buy into Bitcoin and increase your chances of getting out of the rat race, FAST!

Bitcoin Hits New All-Time Highs And How You Can Get In The Game


In the early hours of Thursday, October 12, 2017, the price of Bitcoin hits new all-time highs. The pioneer crypto coin climbed to $5,220 in early hours trading.

Crypto coin News previously reported late on Wednesday that the price levelled at $4,780 from its recent high of $4,900.

What’s driving the price?

According to Crypto coin News and based on several industry discussions, there are no major particulars but these are the basics:

It is difficult to pinpoint one single driving factor behind the Bitcoin Price surge because through the exit of the Chinese market, the global Bitcoin exchange market has restructured and the Japanese market has evolved into the largest Bitcoin market overtaking the US.

Three major factors that have contributed to the recent price surge of Bitcoin most likely are the SegWit2x hard fork in November, introduction of national licensing program for cryptocurrency exchanges in Japan, and the rise in demand for Bitcoin in the US market by institutional investors.

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