Trading with cryptocurrency is a form of investment in today’s world. Australians embraced the new cryptocurrency trend, and in a research study done by Bitcoin.com.au, most of the traders consider the Bitcoin as an asset. If you are buying or selling cryptocurrency on the virtual exchanges, you should follow the Bitcoin with a BTC to AUD converter.
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Blockbid – Bitcoin to AUD converter
Blockbid is a secure, virtual exchange platform based in Australia, which features a Bitcoin to AUD converter. When you start trading with cryptocurrency, you will need a verified local exchange to facilitate the transactions, which is where Blockbid comes in.
The features of this virtual exchange include the following:
- Support for mainstream fiat and cryptocurrencies
- More crypto-coins on a single platform than any other exchange in the world
- Friendly interface and elegant design
- Intuitive and convenient for all level traders
- Flat 0.1 percent transaction fees
- Full cybersecurity insurance
- Up to 1 million transactions per second
- Compliant with the AML/CTF guidelines
- Registered with AUSTRAC
- Offline multi-signature hardware vault for storage of 95 percent of the crypto-assets
- BTC to AUD converter
On Blockbid, you can exchange Bitcoins to AUD, Litecoin to AUD, Ethereum to AUD, and all other popular Altcoins.
Convert Bitcoin to AUD
The benefits of converting Bitcoin to AUD or vice versa to avoid additional costs are familiar to every Australian trader. The price of the Bitcoin as of the writing of this article is 12,613 AUD, with a market capitalisation of 214,589,938,610 AUD. The current circulating supply is 17 million coins with a total volume exchanged of 1,590,470,980 AUD.
Bitcoin trends for 2018
If you combine the market capitalisation of active cryptocurrencies, you will get around 830 million USD as of the beginning of 2018. After the record high in December 2017, of 20.000 USD for the price of one Bitcoin and then the sudden drop in price, the cryptocurrency market and its crypto-coins were the subjects of worldwide speculation. It was guessed, approximately for a seventh time so far, that the market will crash, and the market is still standing.
What happened to the cryptocurrency market, which is what eventually happens to every market and every commodity traded on an exchange, is that it shifted in a slightly different direction. These are the new Bitcoin trends at the beginning of 2018.
Popularity of ICOs
ICOs changed the game when they first “showed up” in 2017, and they ultimately revised the old venture capital model. With ICO crowd sales, the Blockchain project got three to four times more capital than before, and it made the investors and the founders happy because everybody was getting something in return.
In 2018, ICOs are still gaining traction, providing ordinary people with the chance to invest early on in a Blockchain startup or software project (think about Ethereum).
The time of Pre-ICOs
What happens if an ICO doesn’t sell out? The price of the crypto-coin drops as soon as it hits the market and becomes tradable. The way around that is the pre-ICO or known as the “presale” period of a project when a large percentage of the tokens are sold at a significant discount. Most of the funds in a Pre-ICO sale come from private investors and syndicate groups.
So when the ICO is open on the market, it already has a 50 percent sold-out tokens. This is more of a marketing trick than anything else, but it is gaining traction this year
A legal frame regarding ICOs
ICOs are not strictly regulated as they are relatively new to the market, but since the concept gained popularity, China and Korea banned ICOs. In the USA, the SEC declared that ICOs would be subject to US Securities laws, which means a legal action for failure to comply. What is to be expected on that front is that ICOs will start using more legally flexible countries, like Switzerland (home to the Ethereum foundation).
Ethereum and ICOs
It’s known that 70 percent of all ICOs are held on the Ethereum network, and it also helps that the Ethereum network is based in Switzerland. However, one of the problems is that the platform itself has some scaling issues, which might drive investors away.
As we mentioned above, Pre-ICOs are going to become a huge trend in 2018 because the risk of a failing ICO is going to become too dangerous for the founders and the investors, so a more functional network or a viable alternative to Ethereum might show up on the market, like NEO.
Platforms still have the highest value
If you want an investment instead of fast trading for profit, then you should participate in platform development. Virtual platforms that run on the Blockchain network are regarded as virtual assets, and they are valuable and have more potential down the line. Investing in platforms is the safest and most cost-effective way to turn a profit and diversify your portfolio in 2018. This is the sector in the crypto realm that hasn’t even started fulfilling its prospect (Smart contracts, Ripple Protocol and more).
Furthermore, decentralised applications are still not mainstream accepted, but they are performing their functions and gaining more traction with each passing month. As with any investment, the most valuable thing about it is going to the technology, which drives the price on the market.
Bitcoin’s Lightning Network
The Bitcoin’s Lightning Network is the most praised solution to Bitcoin’s scalability limitations, and it’s going to be one of the top subjects of interest in 2018. It was first proposed by Thaddeus Dryja and Joseph Poon in a 2015 white paper. The idea behind it is to let two counterparties interact with each other (like through a multisig wallet) for an unlimited number of transactions, and when they are done with the transactions, the block of data is added on the Blockchain ledger.
Use Blockbid’s BTC to AUD converter and follow the Bitcoin price on the exchange. Moreover, if you want to know more about cryptocurrency and how to trade on the exchange, read Blockbid’s Bitcoin guide.