Category: Uncategorized

France’s AMF is Working on Formulating Its Position on ICOs

No Comments

Click here to view original web page at coinjournal.net

French ICOS
France-ICOs (1)

France is currently determining a legal framework for initial coin offerings (ICOs), according to its financial market regulator.

Robert Ophele, president of the Autorite des marches financiers (AMF), said that they are developing regulations for the market, reports business magazine Challenges.

“We want to get a quick position on the issue,” Ophele said.

At present, it’s not known when the rules will be released. However, France becomes the latest country to announce that it plans to regulate ICOs.

In a Q&A interview, Ophele said that the use of digital currencies enables cash transfers to be conducted in a ‘fast and cost-free way’ around the world. However, he balanced his views by adding:

“[Cryptocurrencies] can very easily be the receptacle of all that one wants to avoid: tax evasion, money laundering or the financing of terrorism.”

These remarks come at a time when regulators around the world are considering their own positions regarding fundraising through ICOs and the regulation of digital currencies.

In July, the U.S. Securities and Exchange Commission (SEC) released an investigative report that found DAO tokens were securities and subjected to securities laws.

At the time, Jay Clayton, SEC chairman, said:

“The SEC is studying the effects of distributed ledger and other innovative technologies and encourages market participants to engage with us. We seek to foster innovative and beneficial ways to raise capital, while ensuring – first and foremost – that investors and our markets are protected.”

Last month, the SEC reported that it was in support of ICOs that do not fall under the definition of securities. According to a report, tokens such as Filecoin, Civic and Gnosis are tokens that grant investors credit for future use. As such, they act like a type of pre-paid gift card and don’t guarantee an ownership stake in the companies or blockchain networks. As a result, they don’t fall under the SEC’s jurisdiction.

On the other hand while countries such as Canada are taking a neutral approach, the same can’t be said for China and South Korea.

In September, both countries banned the use of digital currency tokens through ICOs. Chinese authorities have also halted domestic digital currency exchanges from trading. South Korea’s financial regulator, the Financial Services Commission (FSC), also stated that margin trading of digital currencies would be illegal following its ICO ban.

What France’s position will be regarding projects and startups raising funds through ICOs remains to be seen. However, it’s clear that authorities are taking a more proactive approach to the industry.

Just recently, Russia’s president, Vladimir Putin, voiced his support of the regulation of digital currencies as they ‘bear significant risks.’ Yet, while he’s aware of the Bank of Russia’s opinion on cryptocurrencies, he’s keen ‘not to put up too many barriers.’ According to Anton Siluanov, Russia’s finance minister, digital currencies are expected to be legalised and regulated in 2018 to crack down on money laundering.

Robert Ophele, president of the Autorite des marches financiers (AMF), […]

Click here to view full article

Source: MyFeed

Categories: Uncategorized

The Positive Impact of Recent Regulatory Measures on the Global Cryptocurrency Markets

No Comments

Click here to view original web page at themerkle.com

TheMerkle Bitcoin Regulation Trading Impact

No one can deny the latest batch of cryptocurrency-related regulations has caused some interesting shifts in the world of cryptocurrency. Some things have certainly improved in this regard, as the majority of trading volume has finally moved away from China. In fact, one could argue we have seen a better Bitcoin ecosystem created because of these regulations.

Regulation Isn’t Always Negative

While a lot of cryptocurrency users aren’t big fans of regulation, the repercussions aren’t always as negative as people would assume them to be. Most forms of regulation are designed to hinder the growth of Bitcoin; that much is fairly obvious. Particularly in countries such as Russia, China, and even the United States, things have evolved in a rather awkward direction as of late. That doesn’t necessarily mean nothing good comes from these developments, though.

Perhaps the biggest example of something positive resulting from regulatory measures is China no longer being the Bitcoin trading powerhouse. Although the country is still home to most mining operations, its exchanges are no longer much of a factor. Granted, they halted all CNY trading a while ago, although that appears to have been a temporary measure first and foremost. There is no official indication as to when those services will be resumed, though.

According to a recent Bloomberg article, things are definitely shifting in different directions due to these new forms of regulation. With the Bitcoin price mounting, we have seen some pretty interesting changes introduced. In particular, the Bitcoin trading volume has shifted from the Chinese yuan to the Japanese yen and Korean won. We have seen this trend emerge over the past few weeks, and things have not changed in any significant way ever since.

The US dollar is also trying to mount a bit of a comeback in this regard, even though it will always be a tertiary market at best. For some unknown reason, none of the USD trading pairs come even close to yen or won trading right now. It will be hard to overcome these hurdles right now, given the size of the gap. Then again, the situation continues to evolve virtually every single day, and a lot of changes are still on the horizon, by the looks of things.

The same applies to Ethereum, mind you, as its trading volume mainly comes from the same markets right now. Additionally, the BTC/ETH markets are seemingly shrinking a bit as well, although that is mainly due to the ongoing bullish Bitcoin price run. This doesn’t mean we won’t see more BTC/ETH volume in the near future, though, but for now, Bitcoin is clearly dominating all trading portfolios. That is only normal, as it is the world’s largest cryptocurrency.

Although all of these changes are a direct result of regulatory decisions, most people will not see things that way. The Japanese market is pretty important to all cryptocurrencies right now, thanks to its positive regulatory stance. South Korea is still trying to figure out how it wants to handle things in this regard, but the general attitude appears to be relatively positive for the time being. Things can still change in the very near future, though, as nothing has been set in stone just yet.

Source: MyFeed

Categories: Uncategorized

Up to 40% Off Bitcoin Art Sale (7 Days)

No Comments

Click here to view original web page at www.newsbtc.com

Up to 40% off from Crypto Art For a Week

Most of my gallery reps take up to 50% of my profits from the sales of my works. Since I have the opportunity to market directly to my potential client base through News BTC, we decided to make a campaign to increase sales to raise funds for a new major international project to be announced early 2018.

Art For Crypto and Artevo are now prepping for a new project involving VR, AI and Blockchain so should you wish to collect unique art, be involved with supporting an emerging expression and be a part of something greater than the sum of its parts – here is your chance.

This article shows multiple demo images on what your space could soon look like. We have various sizes available from 50x25cm (20x10in) up to 250x125cm (100x50in).
One of my previous projects with a Bollywood actress Veena Malik reached around 300 million people and helped to change the world. You can see more about this project

here.

The new project will increase awareness regarding blockchain to the general public as well as feature insider topics.

Below you can read some of the most recent interviews regarding on what is to come

The offer during 16-23rd of October is as follows:

  • Bronze series: 10% discount
  • Silver series 20% discount
  • Gold series 30% discount
  • Platinum series 40% discount
Vesa is also open to private and company commissions involving these creative processes.
We accept both crypto as well as Fiat currency as payments.

To access the offer include NEWS BTC OFFER as the opening line of the email.

See the works & prices here: https://www.artforcrypto.com/

Sales, commissions and proposals at: info (at) artevo.fi

Vesa Kivinen
Visual Artist
London / Helsinki
www.artforcrypto.com
www.artevo.org

Vesa is a contributing art writer on News BTC. He is credited for innovating an entirely new art form Artevo and his new platform Art For Crypto, focuses on art for and about the blockchain. He is best known for his collaboration with the Bollywood actress Veena Malik, which reached over 300 million people through the BBC World, The Independent, Times of India, IBT, Helsinki Times, VICE etc.

Disclaimer: The opinions expressed in this article do not represent the views of NewsBTC or any of its team members.  NewsBTC is not responsible for the accuracy of any of the information supplied in Sponsored Stories/Press Releases such as this one.

Most of my gallery reps take up to 50% of my profits from the sales of my works. Since […]

Click here to view full article

Source: MyFeed

Categories: Uncategorized

Why Investing in Digital Currencies Is a Much Better Idea Than You Might Think

No Comments

Click here to view original web page at www.newsbtc.com

investing, bitcoin, cryptocurrency

It’s hard to ignore digital currencies these days. With headlines like “If You Bought $5 of Bitcoin 7 Years Ago, You’d Be $4.4 Million Richer” all over the internet, it’s forcing many of us to contemplate whether we should put some of our hard earned money into cryptocurrencies.

But then, just as you are about to take the plunge, your eye catches “Bitcoin is a fraud” or “ICO’s are an absolute scam”. I don’t blame you if it’s making your head spin.

The truth is that many of the concepts or objects we can’t live without today were completely ridiculed when they first became popular.

Influential scientists and supposed experts, like top engineers, thought the lightbulb was an absolute sham when Thomas Edison was developing the first practical light bulb. Similarly, the first person to walk around with an umbrella in British streets was hurled with trash, and for a long time, many people had an actual fear of personal computers.

It’s a similar story with crypto coins. We’ll look at two aspects of investing, namely price volatility and risk, which many investors consider when sizing up investment opportunities, to see why investing in digital currencies is a much better idea than you might think.

Price volatility

The first thing all opposers to cryptocurrency investing will tell you is that it’s too volatile. But compared to more settled commodities like gold, in the long run, it’s not as volatile as the naysayers would have you believe.

At its lowest point in 2017, Bitcoin traded at just below $800. This is compared to the highest every $5,770 of today, October 13, which is a difference of about 720%. Saying that Bitcoin hasn’t traded below $1,000 in 7 months, and even then it was just for 4 short days. It has its ups and downs but overall, in the long run, it’s on an upwards trajectory, slowly climbing back to that all-time high and beyond.

It is important to remember that in the short-term, all investments will show some sort of volatility. What the price does in the long-run is what matters most to serious investors.

If we look at the price of Gold (which some would suggest is one of the best long-term investments), it paints a far more volatile picture over the last year.

Ethereum traded at $7.98 on the 1st of January 2017. At its highest in June, it reached $410, that’s a 5,137% difference. Like Bitcoin, Ethereum has its ups and downs but again, it’s on an upwards trajectory overall in the long-run.

Granted, these are just two of the more than 1,000 cryptocurrencies on the market today, but if you are new to investing in digital coins, this is likely where you’ll start.

Risk

When investors look at risk, they’ll often compare it to the potential reward to see if the investment is worth it. Also remember, there’s not one investment on this planet that doesn’t carry some sort of risk.

Saxo Bank analyst, Kay Van-Petersen, predicts that in 10 years’ time cryptocurrencies will account for 10% of the average daily volume of fiat currency trade and that the price of Bitcoin will hit $100,000. That means if you invest in one Bitcoin today at $4,800, your investment will increase by more than 2,000% in 10 years. No other investment can come close to this kind of potential return.

Investing Haven predicts Ethereum will to rise to $1,000 for 2018 and beyond. That means you can potentially more than double your return in a few short months, with a steady increase predicted over the long run.

In both instances, the risk is well worth the potential return.

If in doubt, look at what the people in the know are doing

If you’re still on the fence and unsure whether or not investing in cryptocurrencies are a good idea, take the emotion out of it and look at what the experts are doing. These people are known for making wise investment choices.

Richard Branson, for example, is a big supporter of Bitcoin and the underlying technology, Blockchain, while Bill Gates has long been shouting the praises of digital coins, calling it “better than currency.”

Billionaire, Tim Draper has said to have made more than $110 million with his Bitcoin investments and hedge fund manager, Michael Novogratz, said he’d happily invest 10% of his net worth in digital currencies, including Bitcoin and Ethereum.

Conclusion

Of course, as with any investment, it’s never wise to put all your money into one basket but as part of a balanced portfolio, cryptocurrencies are a worthwhile consideration.

Campbell Harvey, a professor of finance at Duke University, said: “For me, though, I look at Bitcoin not just as a currency, but what it could do in the future in other applications.”

And that’s the unique selling point of digital coins, and why it’s likely to increase in value over time. It goes beyond just a currency. It has the potential to revolutionize all industries as we know it.

When looking to invest in cryptocurrencies, look a bit further than the surface facts that most skeptics will happily shout about and realize that investing in digital currencies is a better idea than you might think. Also, make sure you’ve chosen the right platform to do so.To find out more go to https://tokenbox.io

About the author:  Vladimir Smerkis, the managing partner of Tokenbox

Source: MyFeed

Categories: Uncategorized

ICO — обзор проектов

No Comments

Крипто-индустрия развивается крайне стремительно — все больше компаний хотят внедрить в свои процессы технологию блокчейн, и все больше стартапов уходят в эту отрасль. А на место венчурных инвестиций и краудфандинга приходит ICO. Первичное предложение монет позволяет собрать средств больше и быстрее, чем любые другие аналоги фандрайзинга. Вряд ли какой-нибудь инвестор может позволить себе единовременно передать стартапу инвестиций на $50–150 млн. Однако, вместе с этим растет и количество мошенничества в сфере ICO, которое приводит к потере денежных средств людьми, инвестировавших в блокчейн-стартап.

Мы довольно часто пишем о тех или иных компаниях, которые вышли на ICO, однако зачастую после пика рекламной кампании, они выпадают из информационного поля. Поэтому мы решили создать новую рубрику, которая будет полностью посвящена предстоящим или уже прошедшим ICO. Календарь ICO поможет вам быстро узнать о новых проектах, отследить динамику сбора средств, найти контактные данные и всю основную информацию.

Для сегодняшнего выпуска были отобраны самые интересные ICO, о которых мы упоминали в течение прошедшего месяца.

Блокчейн-платформа, разработанная стартапом из Швейцарии, для создания умных, безопасных и динамических цифровых активов. Основная задача сервиса — расширение возможностей существующих блокчейн-платформ за счет предоставления разработчикам и предпринимателям возможности создавать собственные цифровые токены на базе уже существующих решений.

Токен: VEE (1 токен = max $0.02)
Эмиссия монет: 1 млрд
pre-ICO: 18.09–10.10 ($20 млн)
ICO: 19.10–24.10 ($20 млн)
Whitepaper: https://blockv.io/documents/whitepaper.ru.pdf (RU)
Сайт: https://blockv.io (RU)
Оплата: ETH

Децентрализованная площадка для организации турниров по видеоиграм, которая позволит в том числе и не профессиональным геймерам принимать участие в турнирах и бороться за призовые фонды. Это уже существующий проект, который был создан еще в 2015 году.

Токен: ELT (1 ETH = 10 000 ELT)
Эмиссия монет: количество будет известно перед стартом токенсейла (min — $3 млн, max — $12 млн)
ICO: 16.10–15.11
Партнеры: Forklog, юридическая фирма Bright, Synergis, AdEx, Wings, Profit Gid, Bancor
Whitepaper: https://ico.eloplay.com/docs/ru/eloplay_whitepaper_ru_1.pdf (RU)
Сайт: https://ico.eloplay.com/ru (RU)
Оплата: ETH

Блокчейн-платформа, предлагающая “зеленый” облачный майнинг. Токен дает право на получение дивидендов от майнинга криптовалюты. Планируется строительство “зеленой” майнинг-фермы Aldostation.

Токен: ALDO
Эмиссия монет: 50 млн
ICO: 23.08–31.10 в 10 раундов, 1 раунд — 5 млн ALDO по $0.9 USD (не закрыт)
Партнеры: ICO Tracker, ICO Watchlist, CoinGecko, ICO Rating, Bitcointalk Org
Whitepaper: https://aldoin.com (RU)
Сайт: https://aldoin.com (RU)
Оплата: BTC, ET

Криптовалютная биржа с комиссией в 0%.

Токен: COB (1 ETH = 4000 COB)
Эмиссия монет: 1 млрд
ICO: 13.09–22.10 (собрано на данный момент — 38 873,5 ETH, выпущено 219 248 198 токенов из 500 000 000 на ICO)
Whitepaper: https://cobinhood.com/assets/whitepaper/whitepaper_en.pdf (ENG)
Сайт: https://cobinhood.com/ru-ru/ (RU)
Оплата: ETH

Это блокчейн-платформа лояльности, созданная для поддержки “зеленой экономики”. BioCoin будут приниматься 3000 компаний уже в 2018 году, что поможет поддерживать и развивать местные сообщества, фермеров, производителей и продавцов чистой натуральной продукции. Проект вышел под патронажем известной сети розничных магазинов экопродуктов LavkaLavka.

Токен: BIO
Эмиссия монет: 1 млрд с возможностью увеличения
pre-ICO: в два этапа 25.09–08.10 (50 BIO = 1 USD) и 9.10–31.10 (45 BIO = 1 USD)
ICO: в два этапа 01.11–02.11 (40 BIO = 1 USD) и 03.11–01.12 (35 BIO = 1 USD)
Партнеры: LavlaLavka, UAZ, международная сеть кофеен Даблби, сеть магазинов “Республика”, фермерский кооператив “Марк и Лев”, Brotech Fermentation Technology, Zhitz, Marvel Organics, Horeca и др.
Whitepaper: https://biocoin.bio/files/Whitepaper.pdf (RU)
Сайт: https://biocoin.bio/ru (RU)
Оплата: BTC, ETH, Waves, SIB, USD, EUR, RUB, MasterCard, Visa, QIWI, Yandes.Money

Это криптовалюта обзорной площадки представителей стоматологической индустрии в Европе. До старта ICO этот проект поддержали 5 криптовалютных бирж, и более того, ей можно было оплачивать услуги стоматологов.

Токен: 0.00011723 USD / DCN
Эмиссия монет: 8 трлн
pre-ICO:
8 трлн токенов по цене 0.00003521 USD / DCN
ICO: 1.10–1.11 240 трлн токенов по цене 0.00011723 USD / DCN (собрано почти 87%)
Партнеры: Cruisaider, Bredent, Salesforce, Swiss Dentaprime, 3Shape, Microsoft Dynamics
Whitepaper: https://www.dentacoin.com/white-paper/Whitepaper-en1.pdf (ENG)
Сайт: https://www.dentacoin.com (ENG)
Оплата: ETH, BTC

Сервис для распознавания речи на блокчейне. Это уже существующая компания, которая ранее уже получила $130 000 инвестиций через инвестиционный фонд Starta Accelerator.

Токен: RYZ (1 RYZ = $0,02)
Эмиссия монет: 300 млн с максимальной капитализацией в $6 млн (минимальная капитализация была установлена на уровне $1,6 млн)
ICO:
закончено, проект собрал $1 759 130
Партнеры: Starta Accelerator, Waves Platform, Phenom Team, Forklog
Whitepaper: https://tokensale.anryze.com/assets/file/Anryze%20Distributed%20Network_RU.pdf (RU)
Сайт: https://tokensale.anryze.com/index_ru.html (RU)
Оплата: BTC, ETH, LTC, ETC, Waves, EUR, USD

Блокчейн-платформа для хранения и обмена файлами, которая позволит пользователям зарабатывать токены, загружая и скачивая контент.

Токен: UFR (1 ETH = 15 000 UFR)
Эмиссия монет: 1 млрд
ICO:
3.10–31.10 (максимальная сумма сбора $12 млн)
Whitepaper: https://www.upfiring.com/Upfiring_Whitepaper.pdf (ENG)
Сайт: https://www.upfiring.com (ENG)
Оплата: BTC, ETH, LTC

Блокчейн-платформа для организации эффективного рынка недвижимости, которая будет позволять покупать токены, представляющие собой акции в активе недвижимости. При помощи токенов и смарт-контрактов платформы можно будет приобрести или арендовать недвижимость.

Токен: ATL (1 ETH = 505 ATL)
Эмиссия монет: до максимальной суммы в $6 млн
ICO:
7.09–31.10 (на данный момент собрано $5 546 858)
Партнеры: YObit, Tidex, EtherDelta, IDEX, Blockfolio, Coinomi, MyEtherWallet, SOFTLaunch, ESR
Whitepaper: https://atlant.io/assets/documents/ru/Atlant_WP_publish.pdf (RU)
Сайт: https://atlant.io/ru/ (RU)
Оплата: BTC, ETH, LTC, ZEC, BCC

Блокчейн-платформа, представляющая новый формат фриланс-биржи, где нет огромных комиссий, а спорные ситуации разрешаются благодаря распределенному механизму голосования Freelancer Tribunal.

Токен: CL ( 1CL = 0.25 USD)
Эмиссия монет: 300 млн
pre-ICO: 4.10–13.10
ICO: 14.10–15.11
Партнеры: Attic Lab, Blockchain Law Group, Lemon Digital, Ambisafe, ShapeShift, Launch my ICO
Whitepaper: https://www.coinlancer.io/Coinlancer_Whitepaper.pdf (ENG)
Сайт: https://www.coinlancer.io (ENG)
Оплата: BTC, BCH, LTC, ETH, DASH

Disclaimer: перед тем, как вложить какие-либо средства в ICO или любые другие инвестиционные проекты, убедитесь в том, что вы инвестируете в надежный стартап, который честно отработает вложенные в него деньги. Проверьте документацию проекта, команду, просмотрите упоминания о проекте в надежных медиа-источниках, а также оцените перспективы самой идеи.

ICO — обзор проектов was originally published in Криптожурнал on Medium, where people are continuing the conversation by highlighting and responding to this story.

Source: MyFeed

Categories: Uncategorized

Woo’s Law: Bitcoin Users Double Every 12 Months; Major Factor For Long-Term Price Surge?

No Comments

[…]
The post Woo’s Law: Bitcoin Users Double Every 12 Months; Major Factor For Long-Term Price Surge? appeared first on CryptoCoinsNews.

Read more –> click here all content is copyright CryptoCoinsNews.

Need Bitcoin marketing and PR? Bitcoin PR Buzz has been proudly serving the PR and marketing needs of Bitcoin and digital currency tech start-ups for over 2 years. Get your own professional Bitcoin or cryptocurrency press release CLICK HERE.

Powered by ABITCO.IN

Source: MyFeed

Categories: Uncategorized

How to Send a Bitcoin Transaction for Under Ten Cents

No Comments

One of the biggest issues emerging in the Bitcoin space over the last few months is the monstrous transaction fees that users have to pay in order to transfer funds from one address to another. This week we’ll show you how to send a Bitcoin transaction for less than ten cents.

As Bitcoin rises up above $5000 for the second time, Bitcoin fees for a single transaction have gone up as high as $10. Therefore, new cryptocurrencies like Litecoin and Dash have taken over as the standard for micropayments – transactions can be sent for as little as a few cents. While it is true that Bitcoin fees will always be higher than that of altcoins owing to higher demand and smaller block sizes, with a small bit of research you can cut that down tremendously – possibly to similar levels as that of other cryptocurrencies.

Finding Ideal Transaction Fees 

The best way to strike a compromise between low transaction fees and decent confirmation times is to use an online tool you can find here. The page shows different Bitcoin fees with the approximate confirmation time of the transaction. Please note that by default, the fees are shown in Satoshis/byte, where 1 Satoshi is 0.00000001 BTC.

Finding Ideal Transaction Fees

Now, have a look at the chart and look at the “time column” on the right. This shows the approximate time that your transaction will take to receive 6 confirmations, which is usually how many are needed to mark your transaction as final or confirmed. In the picture above, for example, most people would consider a confirmation period of 3 hours perfectly okay, which correlates to 1-10 satoshis/byte in fees. If you do require a faster time, you can make your choice according to the chart.

Calculating Transaction Fees

Note: This guide explicitly gives instructions for Electrum users as it is one of the most popular Bitcoin clients. The same steps can be applied to other wallets, provided that they offer the ability to use custom network fees.

Open Electrum and fill in your transaction as you normally would. Preview your transaction, but do not broadcast it. You will find the size of your transaction in bytes on the preview page.

Calculating Transaction Fees

Now convert the satoshi value you found in the previous step to BTC using this calculator. Multiply the Bitcoin value by your transaction size to arrive at your final transaction fees. Fill in this amount as your fees amount. You’re done! 

Summing It All Up

As you have seen, just 5 minutes of research can cut down your transaction overheads to such an extent that paying $5 for coffee in Bitcoin doesn’t really seem like a far-fetched idea. Most clients wouldn’t worry about a 3-4 hour confirmation time, and 99% of the time you’ll have your first confirmation within a few minutes. And once you have a 1 confirmation, it’s almost completely certain that your transaction will receive another 5 without any issues. Enjoy!

How low are you able to bring down your Bitcoin transaction fees using this method? Let us know in the comments below.

Images courtesy of BitcocinFees21.co, Electrum

The post How to Send a Bitcoin Transaction for Under Ten Cents appeared first on Bitcoinist.com.

Source

Source: MyFeed

Categories: Uncategorized

How to Send a Bitcoin Transaction for Under Ten Cents

No Comments
Aman Ladia · October 14, 2017 · 12:00 pm<!– Excerpt

One of the biggest issues emerging in the Bitcoin space over the last few months is the monstrous transaction fees that users have to pay in order to transfer funds from one address to another. This week we’ll show you how to send a Bitcoin transaction for less than ten cents. As Bitcoin rises up above $5000 for the second time, Bitcoin fees for a single transaction have gone up as high as $10. Therefore,

Read More

End Excerpt –>

One of the biggest issues emerging in the Bitcoin space over the last few months is the monstrous transaction fees that users have to pay in order to transfer funds from one address to another. This week we’ll show you how to send a Bitcoin transaction for less than ten cents.

As Bitcoin rises up above $5000 for the second time, Bitcoin fees for a single transaction have gone up as high as $10. Therefore, new cryptocurrencies like Litecoin and Dash have taken over as the standard for micropayments – transactions can be sent for as little as a few cents. While it is true that Bitcoin fees will always be higher than that of altcoins owing to higher demand and smaller block sizes, with a small bit of research you can cut that down tremendously – possibly to similar levels as that of other cryptocurrencies.

Finding Ideal Transaction Fees 

The best way to strike a compromise between low transaction fees and decent confirmation times is to use an online tool you can find here. The page shows different Bitcoin fees with the approximate confirmation time of the transaction. Please note that by default, the fees are shown in Satoshis/byte, where 1 Satoshi is 0.00000001 BTC.

Finding Ideal Transaction Fees

Now, have a look at the chart and look at the “time column” on the right. This shows the approximate time that your transaction will take to receive 6 confirmations, which is usually how many are needed to mark your transaction as final or confirmed. In the picture above, for example, most people would consider a confirmation period of 3 hours perfectly okay, which correlates to 1-10 satoshis/byte in fees. If you do require a faster time, you can make your choice according to the chart.

Calculating Transaction Fees

Note: This guide explicitly gives instructions for Electrum users as it is one of the most popular Bitcoin clients. The same steps can be applied to other wallets, provided that they offer the ability to use custom network fees.

Open Electrum and fill in your transaction as you normally would. Preview your transaction, but do not broadcast it. You will find the size of your transaction in bytes on the preview page.

Calculating Transaction Fees

Now convert the satoshi value you found in the previous step to BTC using this calculator. Multiply the Bitcoin value by your transaction size to arrive at your final transaction fees. Fill in this amount as your fees amount. You’re done! 

Summing It All Up

As you have seen, just 5 minutes of research can cut down your transaction overheads to such an extent that paying $5 for coffee in Bitcoin doesn’t really seem like a far-fetched idea. Most clients wouldn’t worry about a 3-4 hour confirmation time, and 99% of the time you’ll have your first confirmation within a few minutes. And once you have a 1 confirmation, it’s almost completely certain that your transaction will receive another 5 without any issues. Enjoy!

How low are you able to bring down your Bitcoin transaction fees using this method? Let us know in the comments below.

Images courtesy of BitcocinFees21.co, Electrum

bitcoinBitcoin Transaction Fees‘);”>
Show comments

Let’s block ads! (Why?)

Source: Bitcoinist

The post How to Send a Bitcoin Transaction for Under Ten Cents appeared first on CoinVedi – CryptoCurrency Latest News – Daily Bitcoin & Altcoin Buzz.

Source: MyFeed

Categories: Uncategorized